Monthly Archives: June 2013

NYPD ‘Hunting Of Man’ T-Shirts Seen On On-Duty Officers In Queens

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“On-duty members of the NYPD’s Queens Warrant Squad were spotted outside a city courthouse last week wearing T-shirts imprinted with a Ernest Hemingway quote, that in the context of the officers’ work, could be considered very disturbing: ‘There is no hunting like the hunting of man, and those who have hunted armed men long enough and liked it, never care for anything else thereafter.’  Tipsters, who passed along the photo below, told Gothamist and SocialistWorker.orgthat the cops had badges around their necks, and that words on the front of their T-shirts read, ‘Fugitive Enforcement NYPD.'”

http://www.huffingtonpost.com/2013/06/18/nypd-t-shirt_n_3460781.html

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Throwing children in prison turns out to be a really bad idea

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“The United States still puts more children and teenagers in juvenile detention than any other developed nations in the world, with about 70,000 detained on any given day in 2010. And as it turns out, this is very likely a bad idea.  A new paper by economists Anna Aizer and Joseph J. Doyle, Jr. offers strong evidence that juvenile detention is a really counterproductive strategy for many youths under the age of 19. Not only does throwing a kid in detention often reduce the chance that he or she will graduate high school, but it also raises the chance that the youth will commit more crimes later on in life.”

http://www.washingtonpost.com/blogs/wonkblog/wp/2013/06/15/throwing-children-in-prison-turns-out-to-be-a-really-bad-idea/

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Brazilian authorities face fresh protests against government corruption despite concessions

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“Authorities in Sao Paulo and Rio, Brazil’s two biggest cities, canceled the transit fare hikes that had been the initial spark for two weeks of nationwide protests. But there is no sign that the movement, which has no political coloration and no clearly identified leadership, is about to lose steam. Initially ignited by the fare increases, the protest fed on widespread resentment at the billions of dollars the government is spending on the Confederations Cup, the World Cup and the 2016 Summer Olympics. The demonstrators instead want higher funding for education and health and a cut in salaries of public officials, railing against rampant corruption within the political class.”

http://www.rawstory.com/rs/2013/06/20/brazilian-authorities-face-fresh-protests-against-government-corruption-despite-concessions/

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This Graph Shows How Bad the Fed is at Predicting the Future

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“Ben Bernanke and the Fed are out with their latest happy talk economic projections. They project the economy will grow by 2.3 to 2.6 percent, in real terms, in the fourth quarter of 2013 relative to the fourth quarter of 2012. That speeds up to 3.0 to 3.5 percent in 2014 and 2.9 to 3.6 percent in 2015. Unemployment also is projected to fall, hitting 5.8 to 6.2 percent in 2015, all while inflation stays below 2 percent.  The chart put together by WaPo shows how abysmal the Fed’s actual forecasts have been (and this is not counting the Fed missing the housing crash or the overall financial crisis).”

http://www.economicpolicyjournal.com/2013/06/this-graph-shows-how-bad-fed-is-at.html

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Belgium opens beer temple in former stock market building

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“Beer has always been one of Belgium’s biggest money-spinners but now Brussels is going a step further, announcing plans Thursday to open a temple to the amber nectar in its old stock exchange building.  The ‘Temple of Belgian Beer’ project finds a use for the grand 19th century building near the Belgian capital’s famed Grand Place, which is fronted by corinthian columns and resembles a classical temple.  The Brussels Bourse was abandoned by stockbrokers in 1996 after the computerisation of the financial markets and then became a site for temporary exhibitions.”

http://www.rawstory.com/rs/2013/06/20/belgium-opens-beer-temple-in-former-stock-market-building/

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Conference Board Fears Front Running Ahead of Its Economic Data; 250 Millisecond Edge

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“The Conference Board will no longer provide its economic reports in advance to news organizations because it suspects the data is being diverted early to computer-driven trading systems, reports AP.  The private research group has provided its monthly data to reporters 30 minutes before the information is publicly released. The early access to the data has allowed journalists to prepare news reports ahead of the information’s public release at 10 a.m. Eastern time.  Starting Tuesday, the Conference Board’s data will be released to everyone simultaneously.”

http://www.economicpolicyjournal.com/2013/06/conference-board-fears-front-running.html

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CME Hikes Gold Margins By 25%

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“How very unexpected. And how, judging by today’s massive selloff, it is almost as if someone knew in advance this would happen. Can JPMorgan just restock its vault with whatever gold it needs to meet its massive delivery demands (at three year low prices) so some normalcy can return to the market?”

http://www.zerohedge.com/news/2013-06-20/cme-hikes-gold-margins-25

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Ron Paul’s Choice for Fed Chairman James Grant on Gold & Silver’s Latest Sell-Off

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Ron Paul’s Choice for Fed Chairman James Grant on Gold & Silver’s Latest Sell-Off

“As gold & silver prices tumble to 2.5-year lows in a wake of panic selling following a disappointing Fed Outlook & statement by Bernanke, as well as less-than-ideal Chinese economic data, Kitco News speaks with James Grant, editor of “Grant’s Interest Rate Observer” about the carnage in gold & silver markets. In a previous interview, (then U.S. Congressman) Dr. Ron Paul told Kitco News that he would appoint Grant as Fed chairman; hear what Grant would do differently than Bernanke to help the US economy. Kitco News, June 20, 2013.”

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Federal Auditors, IRS Pan Tax Regulations For Bitcoins

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“Federal auditors are recommending that the IRS not issue regulations for taxpayers on filing returns for the money earned through the exchange of virtual currencies.  The tax agency has neither the money nor the time to craft compliance rules for the emerging market, according to a new report from the Government Accountability Office.  GAO officials acknowledged the government might be missing out on tax revenue as a result of not publishing Bitcoin-specific rules, but it is unclear how much. ‘Given the uncertain extent of noncompliance with virtual currency transactions, formal guidance, such as regulations, may not be warranted,’ the auditors concluded.”

http://www.nextgov.com/cybersecurity/2013/06/auditors-and-irs-pan-tax-regulations-bitcoin/65051/

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Internet Archive Federal Credit Union Backed by Internet Pioneer Brewster Kahle

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“Jordan Modell has experience working with Citibank,  American Express and the Bank of New York. Brewster Kahle is an Internet pioneer who helped develop precursors to the World Wide Web and Amazon.com and sold them for millions of dollars that he has used to form a foundation that supports the Internet Archive, an effort to digitally record everything that has been on the Internet since 1996.  The pair decided to found a credit union after coming to the conviction that the existing financial services industry has largely stopped working for low-income and middle-class people and that a bank was not the best vehicle to meet the needs of those populations.”

http://www.cutimes.com/2012/09/02/newest-credit-union-backed-by-internet-pioneer

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