Have US police forces become too militarised?
"From assault rifles to armoured trucks, even drones. Since the 9/11 attacks the US police have becoming increasingly militarised. But does that mean more safety for Americans?" Continue reading →
Supreme Court to decide whether police can take your blood without your permission
"'It comes down, basically, to are you going to see blood draws every single time someone gets pulled over for a DUI,' said Michael A. Correll, a litigator with the international law firm Alston & Bird, who examined the legality of blood draws in the West Virginia Law Review last year. Because drunk-driving stops are such an everyday occurrence, 'it's going to affect a broad area of society,' he told NBC News, adding: 'This may be the most widespread Fourth Amendment situation that you and I are going to face' for the foreseeable future." Continue reading →
French budget minister under probe for tax fraud
"French Budget Minister Jerome Cahuzac is under investigation for tax fraud after a media report that he had an undeclared UBS account in Geneva which he then moved to Asia, prosecutors said Tuesday. Cahuzac, who is in charge of battling tax evasion, has denied the report by the respected Mediapart investigative website that he had an undeclared Swiss account which he then transferred to Singapore." Continue reading →
Gold Lures Japan’s Pension Funds as Abe Targets Inflation
"Japanese pension funds, the world’s second-largest pool of retirement assets after the U.S., will more than double their gold holdings in the next two years as the new government pushes for a higher inflation target, according to an adviser to the funds. New Prime Minister Shinzo Abe’s pledge to spur inflation to 2 percent and end the yen’s appreciation means Japanese pension funds now have to hedge against rising prices and a currency decline after two decades of stagnation. Gold priced in yen reached a record a week ago." Continue reading →
With Eye On China, Japan Weighs Raising Military Spending
"Japan’s new conservative government announced a review of national military strategy on Monday that analysts said was aimed at offsetting China’s growing military power and that may increase defense spending for the first time in a decade. Mr. Abe had promised during the election campaign to strengthen the military to defend Japan’s control of islands in the East China Sea that are also claimed by China." Continue reading →
Term limits for Congressional ethics investigators removed
"Congress has voted to keep intact an independent office that polices the behavior of House members. Lawmakers approved the Office of Congressional Ethics as part of a package of rules that will govern the new Congress, which convened Thursday. The terms of four of the six members of the office's board were set to expire this week — raising concerns among congressional watchdogs that the office would lose its investigative powers. The new rules drop term limits for board members, allowing top congressional leaders to reappoint current members." Continue reading →
Swiss bank Wegelin, founded in 1741, to close after US tax evasion fine
"Switzerland's oldest bank is to close permanently after pleading guilty in a New York court to helping Americans evade their taxes. Wegelin, which was established in 1741, has also agreed to pay $57.8m (£36m; 44m euros) in fines to US authorities. It said that once this was completed, it 'will cease to operate as a bank'. Wegelin, based in the small Swiss town of St Gallen, started in business 35 years before the US declaration of independence. It becomes the first foreign bank to plead guilty to tax evasion charges in the US." Continue reading →
Rocky Mountain high: Pot a $200M industry in Colorado
"Vigorous regulation of a thriving medical-marijuana industry in Colorado offers the best glimpse of what is coming to Washington when it launches its voter-approved social-use market. With continuous surveillance, bar-coded plants and strict financial background checks, Colorado's rules allowed capitalism to be unleased, creating an instant $200 million industry." Continue reading →
Iraq unearths 1,400-year-old gold coins
"Iraqi archaeologists have found 66 gold coins that are at least 1,400 years old, officials said on Monday, adding that they hope to put them on display in Baghdad’s National Museum. Many of Iraq’s archaeological sites have been vandalised and encroached upon in recent decades, but especially in the years following the US-led invasion of 2003. The capital’s National Museum was also looted in its aftermath. At the time, nearly 32,000 pieces were stolen from 12,000 archaeological sites across Iraq, and 15,000 others disappeared from the National Museum in Baghdad, according to official figures." Continue reading →
IMF OK With Capital Controls, Inflationists Shrug
"The International Monetary Fund endorsed nations’ use of capital controls in certain circumstances, making official a shift, which has been in the works for three years, that will guide the fund’s advice. In a reversal of its historic support for unrestricted flows of money across borders, the Washington-based IMF said controls can be useful when countries have little room for economic policies such as lowering interest rates or when surging capital inflows threaten financial stability." Continue reading →
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