statism

80% dip in India gold imports linked to rampant smuggling

"Customs officials recently apprehended a gold consignment at Delhi's IGI Airport coming from Dubai where the smuggler had converted gold bars into staple pins with silver coating. These pins were stapled on the boxes of TVs he was legally importing. In another case, DRI officials apprehended a consignment where capacitors of picture tubes of TV sets were made of gold. 'Unless you have specific information you can't catch such consignments. Who would break open a TV and look at the capacitor of its picture tube for smuggled gold. Though we have had good success, we believe a lot of consignments are finding their way into the country,' said the officer." Continue reading →

Continue Reading80% dip in India gold imports linked to rampant smuggling

India witnesses spurt in Gold smuggling

"Customs officials foiled the attempt by a passenger hailing from Koyilandy to smuggle 3.99 kg of gold concealed in his baggage. The gold, in the form of gold bars, was hidden in a metal box in the rear side of a TV. The gold bars were detected during the X-ray scan. Assistant commissioner Rohit Kumar led the search and seizure operation. Meanwhile, some of the airports have upgraded the scanners and x-ray machines to detect gold smuggling which has risen following the increase in import duty to 8% and differential in gold prices in India and abroad, market analysts said." Continue reading →

Continue ReadingIndia witnesses spurt in Gold smuggling

India Department of Post to stop gold coin sales

"Following the Centre's decision to halt the import of gold coins and bars in the country, the department of post will stop their sales from its counters from August 1. So, if you want to buy 24-carat gold coins with India Post logo, better hurry up. Otherwise, you will miss the last chance - for the time being - to buy them. The department has so far been selling gold coins from 0.5gm to 50 gm in weight. India Post had entered into a tie-up with a private sector company to sell gold Suisse which were certified by the Switzerland-based International Gold Council. The government has asked India post, banks and other financial institutions to stop the supply of gold." Continue reading →

Continue ReadingIndia Department of Post to stop gold coin sales

Liberty Slipping: 10 Things You Could Do in 1975 That You Can’t Do Now

"1. You could buy an airline ticket and fly without ever showing an ID. 2. You could buy cough syrup without showing an ID. 3. You could buy and sell gold coins without showing an ID 4. You could buy a gun without showing an ID 5. You could pull as much cash out of your bank account without the bank filing a report with the government. 6. You could get a job without having to prove you were an American. 7. You could buy cigarettes without showing an ID 8. You could have a phone conversation without the government knowing who you called and who called you. 9. You could open a stock brokerage account without having to explain where the money came from." Continue reading →

Continue ReadingLiberty Slipping: 10 Things You Could Do in 1975 That You Can’t Do Now

Daniel Hannan on Statism and Detroit: My Analysis

"In December 1991, one block from my home, a man twice my size tried to stuff me into the back of a Chrysler New Yorker that was occupied by three other co-crazies blanked out on dope. My husband and I packed our bags and left the city the following spring. After ten years, we were done with The Experiment. The Marxism, crime, anti-white racism, tax rates, and lack of stable neighborhoods chased us out of town. In reality, the city died in 1967, with the riot that changed the city for decades. The decomposition occurred immediately thereafter. My father, a firefighter, worked a 72+ hour shift during the riots, putting out fires while being shot at by rioting civilians." Continue reading →

Continue ReadingDaniel Hannan on Statism and Detroit: My Analysis

FEMA caught using old flood map data that cost homeowners untold extra insurance premiums

"From Maine to Oregon, local floodplain managers say FEMA’s recent flood maps - which dictate the premiums that 5.5 million Americans pay for flood insurance - have often been built using outdated, inaccurate data. Homeowners, in turn, have to bear the cost of fixing FEMA’s mistakes. It’s unclear exactly how many new maps FEMA has issued in recent years are at least partly based on older data. While FEMA’s website allows anybody to look-up flood maps for their areas, the agency’s maps don’t show the age of the underlying data. Congress has actually cut map funding by more than half since 2010, from $221 million down to $100 million this year." Continue reading →

Continue ReadingFEMA caught using old flood map data that cost homeowners untold extra insurance premiums

Ingham County judge rules Detroit bankruptcy be withdrawn

"Ruling the governor and Detroit’s emergency manager violated the state constitution, an Ingham County Circuit judge ordered Friday that Detroit’s federal bankruptcy filing be withdrawn. 'It’s absolutely needed,' said Judge Rosemary Aquilina, observing she hopes Gov. Rick Snyder 'reads certain sections of the (Michigan) constitution and reconsiders his actions.' Prior to her ruling, the judge criticized the Snyder administration and Schuette’s office over their hasty move. 'It’s cheating, sir, and it’s cheating good people who work,' the judge said. 'It’s also not honoring the (U.S.) president, who took (Detroit’s auto companies) out of bankruptcy.'" Continue reading →

Continue ReadingIngham County judge rules Detroit bankruptcy be withdrawn

Ingham County judge rules Detroit bankruptcy be withdrawn

"Ruling the governor and Detroit’s emergency manager violated the state constitution, an Ingham County Circuit judge ordered Friday that Detroit’s federal bankruptcy filing be withdrawn. 'It’s absolutely needed,' said Judge Rosemary Aquilina, observing she hopes Gov. Rick Snyder 'reads certain sections of the (Michigan) constitution and reconsiders his actions.' Prior to her ruling, the judge criticized the Snyder administration and Schuette’s office over their hasty move. 'It’s cheating, sir, and it’s cheating good people who work,' the judge said. 'It’s also not honoring the (U.S.) president, who took (Detroit’s auto companies) out of bankruptcy.'" Continue reading →

Continue ReadingIngham County judge rules Detroit bankruptcy be withdrawn

Europe Continues to Circle the Drain

"Where is the austerity? The cuts Keynesians are complaining about are mere reductions in increase. 'Despite austerity rhetoric,' wrote Frank Karsten, 'government debts keep rising in most democratic countries. ‘Austerity’ is a code word for ‘spending less than we had wanted, but more than in the past.’ In the end, they wind up raising taxes, rather than lowering expenditures to cut deficits.' As we reported last week, central banks around the world continue to cut their euro holdings for the third straight year. The Old World’s scrip now accounts for only 23.3% of foreign reserve holdings. If central banks are wary of euros… you should be as well." Continue reading →

Continue ReadingEurope Continues to Circle the Drain

Europe Continues to Circle the Drain

"Where is the austerity? The cuts Keynesians are complaining about are mere reductions in increase. 'Despite austerity rhetoric,' wrote Frank Karsten, 'government debts keep rising in most democratic countries. ‘Austerity’ is a code word for ‘spending less than we had wanted, but more than in the past.’ In the end, they wind up raising taxes, rather than lowering expenditures to cut deficits.' As we reported last week, central banks around the world continue to cut their euro holdings for the third straight year. The Old World’s scrip now accounts for only 23.3% of foreign reserve holdings. If central banks are wary of euros… you should be as well." Continue reading →

Continue ReadingEurope Continues to Circle the Drain