Mainstream News

Bitcoin Now Buys You Citizenship in Pacific Nation of Vanuatu

"The Pacific island nation of Vanuatu has become the world’s first county to accept the virtual currency bitcoin for its citizenship program. The Vanuatu Information Centre (VIC) announced that its Development Support Program (DSP) will allow foreigners to qualify for Vanuatuan citizenship through a one-time payment of $200,000 – or its cryptocurrency equivalent. At current market prices, this puts the price of citizenship for the so-called Paradise Islands at slightly more than 43 bitcoins."

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New York cops’ massive salaries are robbing taxpayers blind

"Local cops in towns and counties around New York state are robbing taxpayers blind with astronomical yearly salaries — including one officer who pulled down $442,000, a new report shows. Tom Donnelly, who retired as a Ramapo school safety officer in August, earned the investment-banker-sized paycheck over a 12-month period ending in March — making him the highest paid local cop anywhere outside New York City, according to a report from the Empire Center. The study showed that local cops like Donnelly are the highest-paid group of government employes in municipalities excluding the five boroughs."

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No compensation for innocent man who lost spleen in SWAT raid

"The raiding cops brought the wrong-sized battering ram, making it difficult for them to get inside quickly. One of the officers shot Ferreira within seconds, despite the fact that he was unarmed. They had no layout of the house. They weren’t aware of the fact that Ferriera was a guest on the night of the raid, which is at least suggestive of little or no surveillance. The city, of course, appealed the finding against it, and Ferreira appealed the jury’s finding that the officer who shot him wasn’t liable for his injuries. Late last month U.S. district court judge Thomas McAvoy issued his decision. Ferreira is out of luck. McAvoy first upheld the finding of no liability for the officer. He then found that the City of Binghamton isn’t liable, either."

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India Central Bank Governor Warned Against Cash Ban Before Resigning

"Raghuram Rajan left the central bank last September after unnerving political leaders with his outspoken nature. Several months later, Modi blindsided the nation by scrapping 86 percent of currency in circulation, saying the move was essential to unearth unaccounted wealth and fight graft. Since then, speculation has raged over who thought up the policy, with the debate getting more divisive last week as a slew of data showed demonetization contributed to a growth slump without meeting its targets."

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India Demonetization Loses Credibility; 99% of Banned Notes Returned

"Indians have deposited nearly all the currency bills voided by Prime Minister Narendra Modi, denting the central bank’s profit and dealing a blow to his drive to unearth unaccounted wealth. The cash ban prompted the central bank to print new currency, reducing its profit and cutting annual dividend payout to the government by half."

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Google warns that govt is demanding more of your private data than ever

"Google received 48,941 requests for data from 83,345 accounts and produced user information for 65 percent of requests. About half the requests come from the US government. Other major sources of requests include Germany, France, and the UK."

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Trump to courts: Stop opposing my travel ban, because here’s another one

"If the administration succeeds in wiping the record clean, it will need to defend only Trump's latest ban, which followed a three-month review of immigration procedures. Keeping the lower court rulings on the books would give opponents more support for claims that the new ban exceeds the president's authority and discriminates against Muslims. The U.S. Court of Appeals for the 9th Circuit had ruled that Trump lacked proof the earlier ban was needed, and the 4th Circuit appeals court said it discriminated based on religion."

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Governments turn tables by suing public records requesters

"Government bodies are increasingly turning the tables on citizens who seek public records that might be embarrassing or legally sensitive. Instead of granting or denying their requests, a growing number of school districts, municipalities and state agencies have filed lawsuits against people making the requests – taxpayers, government watchdogs and journalists who must then pursue the records in court at their own expense."

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U.S. household stock wealth at highest level since dotcom bubble

"Currently, according to Ned Davis Research, stocks represent 40% of total household financial assets, much higher than the 28.2% average allocation since 1951. There’s been only one other occasion since 1951 in which stock allocation was higher than it is today — at the top of the late 1990s internet bubble, when it rose to 47.5%. Every other major stock market top of the last seven decades, in contrast, occurred when households’ equity allocation was lower than today’s level. At the 2007 stock market top, for example, the allocation peaked at 37.1%."

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