sound money

Bill Bonner: Americans pose a bigger threat to themselves

"With the numbers before us, you'd think we would at least stop wasting time and money protecting ourselves from terrorism and other bugaboos. The US 'security' budget, all in, is a fabulous sum -- about $1 trillion a year. It seems foolish. The return on investment is paltry. By comparison, suicide prevention - as near as we could make out - is barely a footnote in the federal budget, only about $56 million a year. This despite the fact that the risk to the typical reader posed by himself is about 1,000 times greater that the risk from 'terrorists.'" Continue reading →

Continue ReadingBill Bonner: Americans pose a bigger threat to themselves

The Internet Sales Tax: Taxation Without Representation

"Why should a taxation principle which is obviously preposterous when applied to tax jurisdictions around the world be regarded as tax fairness when applied inside the jurisdictional limits of the United States government? We are talking about invisible lines that separate tax jurisdictions. If the sales tax principle is legitimately applicable between states inside the United States, then the principle ought to be equally applicable between states inside the United States and states outside the United States. If the principle is preposterous when we cross national borders,then it should be equally preposterous when we cross state jurisdictions inside the United States." Continue reading →

Continue ReadingThe Internet Sales Tax: Taxation Without Representation

Internet Sales Tax Passes the Senate, 69 to 27

"Republicans in the U.S. Senate caved in. They voted to force businesses located in one state to serve as unpaid tax collectors for 45 other states. (Five states have no sales tax.) The RINO Party Line is that this is not a tax increase. It is a huge tax increase. Voters will pay it. Businesses will pay it. The nightmare of complying will kill tens of thousands of online businesses. This is a subsidy to Walmart, which pays sales taxes because it is physically located in all states. Amazon has also joined in — same reason. It has delivery centers in several states, and it plans to add lots more. These companies want small businesses to pay. They do not want competition." Continue reading →

Continue ReadingInternet Sales Tax Passes the Senate, 69 to 27

America’s 14 Most Pissed-Off Comments on the TSA’s Airport Body Scanners

"TSA is getting rid of the most controversial scanners by this summer because the company that made them wasn't adequately protecting passenger privacy. The replacement scanners are supposed to offer more privacy by only showing a generic outline of passengers. Since late March, Americans have submitted over 3,000 comments to the TSA about the existing scanners and the planned change. Here are 14 of the most pissed off public comments submitted to TSA…and the one guy who loves them." Continue reading →

Continue ReadingAmerica’s 14 Most Pissed-Off Comments on the TSA’s Airport Body Scanners

Cop Attacks Special Needs Student For Not Having Shirt Tucked In

"A police officer slams a special needs student to the ground and puts him in a life threatening hold for not having his shirt tucked in. This is a perfect example of why we should never put police officers in our schools as suggested by the NRA." Continue reading →

Continue ReadingCop Attacks Special Needs Student For Not Having Shirt Tucked In

Karzai Says He Was Assured C.I.A. Would Continue Delivering Bags of Cash

"The use of the C.I.A. cash for payoffs has prompted criticism from many Afghans and some American and European officials, who complain that the agency, in its quest to maintain access and influence at the presidential palace, financed what is essentially a presidential slush fund. The practice, the officials say, effectively undercut a pillar of the American war strategy: the building of a clean and credible Afghan government to wean popular support from the Taliban. Instead, corruption at the highest levels seems to have only worsened." Continue reading →

Continue ReadingKarzai Says He Was Assured C.I.A. Would Continue Delivering Bags of Cash

Small-Town Mayor’s Millions as Exhibit A on Graft in Spain

"Investigators calculate that she and other family members accumulated about $24 million, mostly from shady land deals during Spain’s boom years. Searching her property, the police had to borrow a bill-counting machine from a local bank to help total up all the cash: $485,000. At a time when Spain, Italy, Greece and Portugal are imposing deficit-cutting austerity plans on their hard-pressed citizens, these revelations of widespread political corruption are stoking bitter resentment, destabilizing governments and undermining the credibility of the political class as a whole." Continue reading →

Continue ReadingSmall-Town Mayor’s Millions as Exhibit A on Graft in Spain

Draghi Says ECB Ready For Negative Interest Rates If Needed

"European Central Bank President Mario Draghi said policy makers are ready to cut interest rates again if needed after reducing them to a record low last week. The euro fell half a cent on the comment to $1.3057 and European stocks pared losses. The Frankfurt-based ECB on May 2 cut its benchmark rate by a quarter point to 0.5 percent, and Draghi said then that officials have an 'open mind' about taking the deposit rate, currently at zero, into negative territory." Continue reading →

Continue ReadingDraghi Says ECB Ready For Negative Interest Rates If Needed

Policy battle rages in China as slowdown feeds ‘sense of crisis’

"China's Caixin Magazine reports that there is a growing 'sense of crisis' not felt since the depths of the global banking crash in 2008-2009. The State-owned Assets Supervision and Administration Commission (SASAC) has assembled a team to 'protect economic growth' and pressure state companies to boost jobs at all costs. SASAC is the bastion of vested interests and controller of 115 state behemoths with assets above $6 trillion and lock on much of the economy. The move comes amid further signs that growth is faltering across all fronts. HSBC's gauge of Chinese services fell three points to 51.1 in April, the lowest in almost two years." Continue reading →

Continue ReadingPolicy battle rages in China as slowdown feeds ‘sense of crisis’