Monthly Archives: May 2015

Hackers Hit the IRS and Make Off With 100K Taxpayers’ Files

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“Few government agencies routinely collect more information on every law-abiding American than the Internal Revenue Service. And by targeting the IRS, a group of seemingly sophisticated hackers has now collected their own chunk of that detailed data.  On Tuesday the IRS admitted that it had been the target of a breach that compromised 100,000 taxpayers’ files between February and the middle of this month. And though that may seem like a relatively small set of victims, the IRS says the attackers gained the full tax return transcript of the affected taxpayers, which could included a detailed dossier of their personal information including income and social security numbers.”

http://www.wired.com/2015/05/hackers-hit-irs-access-100000-taxpayers-files/

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IRS sets up dedicated cybercrime unit to combat identity theft

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“The US Internet Revenue Service has launched a new unit dedicated to tackling the rising rate of identity theft through hacking.  The US agency’s unit comprises of roughly a dozen agents, as reported by the Wall Street Journal. The agents, based in Washington, will focus on cybercrime related to tax fraud, including the theft of data which is then used to collect victim tax refunds without their consent.  IRS data suggests that within the last fiscal year, over 1,000 cases of identity theft involved the loss of data through digital means.”

http://www.zdnet.com/article/irs-sets-up-dedicated-cybercrime-unit-to-combat-identity-theft/

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Feds to return $107K they seized from NC business owner

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“McLellan is just one of thousands of Americans the IRS has seized money from, supposedly for ‘structuring’ funds to avoid a law requiring banks to alert the government of deposits over $10,000. The law was instituted to help the government ferret out drug dealers, terrorists or other criminals — but the IRS occasionally flags deposits of just under $10,000 as suspicious even if there’s no evident criminal wrongdoing, in turn ensnaring people who may be innocent.  That’s what allegedly happened in McLellan’s case. His convenience store in North Carolina was raided in October by IRS agents who said he made a series of just-under-$10,000 deposits in a 24-hour period.”

http://www.foxnews.com/politics/2015/05/15/attorneys-feds-will-give-nc-man-his-seized-107gs-back/

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Creator of PGP explains why he moved his company to Switzerland

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“When Philip Zimmermann was campaigning for nuclear disarmament in the 1980s, he kept an escape plan in his back pocket. The inventor of the world’s most widely used email encryption system, Pretty Good Privacy – more commonly known as PGP – was ready to move his family from Colorado to New Zealand at a moment’s notice.  The button was never pressed and the Zimmermanns stayed put. Until this year, that is. At 61, the Internet Hall of Fame inductee and founder of three-year-old mobile encryption startup Silent Circle has just left the US for Switzerland. In the end, it was not the nuclear threat that convinced him to leave his homeland, but the surveillance arms race.”

http://www.theguardian.com/technology/2015/may/25/philip-zimmermann-king-encryption-reveals-fears-privacy

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Surveillance Back Door Worse Than No Door

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“Tech industry giants say they are alarmed the federal government would demand back-door access to the encryption built into their products. Are they crying crocodile tears? Maybe, but the point is still a good one.  Imagine if, instead of memory chips, we were talking about your home’s back door. It most likely contains a lock. Your family members have keys. They can come and go freely while others cannot. This is how locks should work.  The FBI says it can’t do its job unless it has unimpeded access to your house, so it asks you to give it a spare key. The FBI further promises it will only use the key to enter your home in emergencies. Would you give it to them?”

http://www.thedailybell.com/news-analysis/36308/Back-Door-Worse-Than-No-Door/

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Robert Ringer: Why Slavery Is Here to Stay

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“Dear reader, I suggest that you sit back and enjoy the upcoming campaign festivities for the next year-and-a-half. They promise to be reality TV at its best.  Your biggest challenge is to not get so caught up in the playacting that you begin to take it seriously. After all, no matter which scoundrel ends up winning the throne in 2016, you already know, based on past history, that there will be no fundamental changes in the way government operates. Guaranteed! And if you’re wondering about the fate of shrimp on treadmills and obese lesbians, rest assured that they will once again become important political projects right after the current presidential soap opera comes to an end.”

http://robertringer.com/why-slavery-is-here-to-stay/

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IOU’s: China Buys Treasury Debt

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“China, meaning China’s central bank — the People’s Bank of China — started buying Treasury IOU’s again in March. It purchased $36 billion worth. It now holds over $1.2 trillion in Treasury IOU’s.  China has now leaped ahead of Japan as the #1 foreign holder of U.S. government debt. Add Hong Kong to this: another $180 billion. In short, the Communists are subsidizing American consumers (cheap goods) and American politicians (low interest rates/more debt). The Chinese masses are paying for this: reduced wealth. Americans get this wealth.  Communist politics + mercantilist economics = stupidity.  It won’t go on forever. Enjoy it while you can.”

http://teapartyeconomist.com/2015/05/16/ious-china-buys-treasury-debt/

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Bank Of England Outs Itself Lying About EU Referendum

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“The Bank blew its cover on Friday when it accidentally emailed details of the project – including how the bank intended to fend off any inquiries about its work – direct to the Guardian. According to the confidential email, the press and most staff in Threadneedle Street must be kept in the dark about the work underway, which has been dubbed Project Bookend. It spells out that if anyone asks about the project, the taskforce must say the investigation has nothing to do with the referendum, saying only that staff are involved in examining ‘a broad range of European economic issues’ that concern the Bank.”

http://www.thedailybell.com/news-analysis/36313/Central-Bank-Caught-Lying/

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ECB Money Printers Tip Hedge Funds In Private Meeting

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“Shortly after 6pm London time yesterday, The ECB’s Benoit Coeure told a non-public audience of hedge funds in London that ‘the central bank would moderately front-load its purchases in its quantitative easing program because of the seasonal lack of market liquidity in the summer.’ The reaction was a 50 pips drop in EURUSD… but this was inside information was not released to the trading public until around 8am London time – and resulted in a 150 pip plunge. Translation: a select private group of head funds in London were leaked ECB front-loading news 14 hours before The ECB deemed it ‘correct’ to publicly release the comments.”

http://davidstockmanscontracorner.com/the-ecb-money-printers-are-dangerous-incompetent-and-corrupt-tip-hedge-fund-in-private-meeting/

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Australian banks put brakes on investor lending

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“Under huge public and private pressure from regulators, the big banks are effectively raising interest rates for many new property investors by scrapping or scaling back lucrative discounts routinely offered.  The industry is also considering a tougher stance on deposits, after a subsidiary of the Commonwealth Bank of Australia said investors’ mortgages would get a maximum of 80 per cent of the value of the property – a decision that creates a 20 per cent buffer for the bank if there is a property crash. CLSA banking analyst Brian Johnson said it could lead to a period of no increases in house prices. National house prices rose more than 10 per cent last led by Sydney and Melbourne.”

http://www.smh.com.au/business/banking-and-finance/banks-put-brakes-on-investor-lending-20150521-gh6imi.html

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