Zelle, the Banks’ Answer to Venmo, Proves Vulnerable to Fraud
"Interviews with more than two dozen customers who had their money stolen through Zelle illustrate the weaknesses that criminals are using in targeting the network."
India bank run underway after $2B scam at state-run bank prompts bailout bill
"Indians are concerned that a proposed bill, which gives regulators the option to use public deposits to bail out a bank that goes bust, is pushing individuals to hoard cash. The government has repeatedly issued statements to assure the public that their money would be safe. These concerns are heightened by news that emerged in February of a $2 billion fraud at state-run Punjab National Bank, where a jeweler allegedly colluded with a bank employee to siphon off money before leaving the country."
DHS Confirms Presence of Cell-site Simulators in U.S. Capital
"Cell-phone tracking technology known as cell-site simulators (CSS) are being operated by potentially malicious actors in our nation's capital. DHS doesn't know who's operating them or why, or whether these fake cell towers are installed elsewhere in the country."
Welcome to the Welfare-Warfare State
"As Woodrow Wilson and LBJ knew well, the rush of power felt when America engages in a foreign crusade is effortlessly converted to a domestic crusade."
Venezuela Tackles Economic Crisis by Deleting 3 Zeros From its Currency
"The ineffable leader of the Bolivarian Revolution has recently announced the launching of a new currency, the so-called Sovereign Bolivar, which will replace the bolivar as the official medium of exchange starting in June."
The Ongoing Implosion of Venezuelan Statism
"The Socialist Party of Great Britain has a ready-made answer to all those questions. The misery is the fault of capitalism. I’m not kidding."
From Eye-Bleeding To Eye-Gouging: Thanks, War On Drugs
"In all of human history there has never been a single recorded death from the use of cannabis. However, the side-effects of this chemical that filled the void created by the prohibition of this safe plant include death."
China: We would fight a trade war ‘to the end’
"The statement from the Chinese embassy said Trump's trade action was 'self-defeating' and would hurt American companies, consumers and financial markets. The administration said it would announce in the next 15 days which products would be subject to tariffs."
Buffett to Berkshire Shareholders: Be Prepared to Lose Half Your Money
"Rather than giving into the prevailing attitude among market participants that the nine-year-old bull market could continue indefinitely, Buffett's latest annual letter to shareholders warns Berkshire investors that losses of 50% or more are not only possible but inevitable in the future."
Trump Readies Sweeping Tariffs and Investment Restrictions on China
"The breadth of the tariffs remains a contentious topic in the business sector and the White House, with some industries fretting about retaliation and increased costs to American companies and consumers."
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