Monthly Archives: May 2015

New law forces Little League chapter to pay for concession stand permit

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“The Genesee County health department is requiring the Batavia Little League to get a permit to operate its concession stand.  The Little League tells us it can’t afford it. It all comes down to a new law requiring any organization that serves food to have a permit. We spoke with the vice president of the Batavia Little League. The Batavia Little League says it was thrown a ‘curveball.’ The Genesee County health department is requiring the league to get a permit to continue selling food.  ‘It’s no different than the little six-year-old kid having a lemonade stand,’ says Reinhart. ‘Are they going to go and kick those kid’s stands down and ask them for $175?'”

http://www.whec.com/article/stories/s3802762.shtml

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Permissionless Innovation: Do you need government approval to invent?

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“In cities across the country, taxicab commissions have appealed to government to stop Uber, Lyft and other such ride-sharing programs.  New York City has threatened Airbnb, a home rental company fueled by connecting homeowners with potential renters via the Internet.  What about things such as smart cars, drones delivering goods, biomedical devices and 3D printers — things just entering the mainstream?  These and other emerging technologies are facing intense scrutiny and disrupting established business models, but at the same time they’re providing consumers with faster service, more choice and lower prices.”

http://watchdog.org/219116/permissionless-innovation-government/

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Icelanders Demanding Up to 50% Pay Rise Show Crisis Ripples

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“Icelanders representing about one-third of the workforce are demanding pay rises as high as 50 percent in some industries, threatening to cripple the island’s recovery just as policy makers move closer to removing capital controls. The development is unsettling some of the island’s biggest businesses, who say industries will struggle to turn a profit.  Meanwhile, Iceland is struggling to unwind capital controls in place since its biggest banks defaulted on $85 billion in debt almost seven years ago. The central bank on May 13 warned that wage increases could jeopardize the process, which the government had hoped to push forward this year.”

http://www.bloomberg.com/news/articles/2015-05-18/icelanders-demanding-up-to-50-pay-rise-reveal-crisis-ripples

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‘High likelihood’ of Greek capital controls, bank deposit freeze: Moody’s

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“Moody’s Investor Service downgraded its outlook for the Greek banking system to negative from stable, which it said reflected: ‘the significant deterioration in banks’ funding and liquidity since December 2014, with deposit outflows estimated at more than 30 billion euros ($33.3 billion), or 18 percent of total deposits, over the past five months.’  These pressures are unlikely to ease over the next 12-18 months, Moody’s said, ‘and there is a high likelihood that capital controls and a deposit freeze will be imposed.’  The credit ratings agency said the negative outlook also took into account the downward revision of Moody’s 2015-16 GDP (gross domestic product) forecasts for the country.”

http://www.cnbc.com/id/102693901

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Cop Unions Say Demilitarization Threatens Police. They’re Wrong.

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“Predictably, the unions are howling, accusing the president of ‘politicizing cop safety.’  ‘The [Fraternal Order of Police] is the most aggressive law enforcement advocacy group in Washington, and we will be at our most aggressive in asserting the need for officer safety and officer rights in any police changes that are to be effected,’ said FOP executive director James Pasco.  It’s a little disturbing to see the unions blandly assert that police have ‘rights’ to free military aircraft, grenade launchers, and turret-mounted .50-caliber machine guns. Some of those weapons can send rounds through a city block — how’s that for ‘community policing’?”

http://fee.org/anythingpeaceful/detail/police-unions-say-demilitarization-puts-cops-at-risk-theyre-wrong

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Obama Bans Certain Military Gear From Local Police

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“In a surprise move aimed at tamping down the backlash against military tactics by local police forces, President Obama today announced he is banning the transfer of certain military gear considered ‘not appropriate’ for local policing. The ban will include tracked armored vehicles, grenade launchers and bayonets. Obama said his working group had concluded there was a ‘substantial risk of misusing’ such gear.  ‘We’ve seen how militarized gear can sometimes give people the feeling like there’s an occupying force as opposed to a force that’s part of the community,’ Obama added in comments later in the day.”

http://news.antiwar.com/2015/05/18/obama-bans-certain-military-gear-from-local-police/

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St. Louis Federal Reserve Suffers DNS Breach

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“The St. Louis Federal Reserve today sent a message to those it serves alerting them that in late April 2015 attackers succeeded in hijacking the domain name servers for the institution. The attack redirected Web searches and queries for those seeking a variety of domains run by the government entity to a Web page set up by the attackers in an apparent bid by cybercrooks to hijack online communications of banks and other entities dealing with the regional Fed office. Requests for comment from the St. Louis Fed so far have gone unreturned.”

http://krebsonsecurity.com/2015/05/st-louis-federal-reserve-suffers-dns-breach/

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Rand Paul: ‘Whatever it takes to stop’ Patriot Act reauthorization

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“A handful of powerful Senate Republicans are pushing to reauthorize the Patriot Act without any reforms. Others in the Senate are pushing the USA Freedom Act, which would reform the Patriot Act’s Section 215 and effectively end bulk data collection. The House quickly passed that bill last week.  But Paul and other privacy hawks want more reforms than those included in that bill, and Paul is calling for the end of that section of the Patriot Act, which is set to sunset at the end of the month.  Paul previously stood for a nearly 13-hour filibuster to call attention to the U.S.’s drone strike policies.”

http://www.cnn.com/2015/05/19/politics/rand-paul-patriot-act-filibuster/

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Record $150m in gold seized by Indian police in 10 months

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“Officials and industry insiders attribute this spike to a ‘high’ import duty of 10 per cent from 2013, a booming demand pegged by the World Gold Council at around 840 tonnes in 2014 – 191.7 tonnes in the first quarter of fiscal 2015 alone, up 15 per cent from the same period last year — and a low prosecution rate of those caught smuggling gold.  At a time when the NDA government announced a monetisation scheme in this Budget to unlock the value of a part of the 22,000 tonnes of gold (US$1trn) in private hands, a big chunk lies with its own Customs departments – over 2,000 kg seized over the past 10 years.”

http://indianexpress.com/article/india/india-others/why-the-gold-rush-record-150mn-seized-in10-months/

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Why you need offshore gold storage

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“If you choose to store your gold in a private vault facility, you add a layer of privacy to your assets. At least as I write this, precious metals held in non-bank facilities are not subject to government reporting in the United States.  There are gold storage facilities in more privacy-friendly countries from Switzerland and Austria to Singapore and Hong Kong. Austrians love for secrecy gave birth to one of the world’s only anonymous gold storage facilities, located in Vienna.  Asians love gold and the economic centers of the continent are making it easier to buy and store metals. I recently wrote about how to get secure offshore gold storage in two different Singapore vaults with ease.”

http://nomadcapitalist.com/2013/05/06/why-you-need-offshore-gold-storage/

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