Colorado Politicians Lend Lies to Pot Prohibitionists in Arizona and California

In an interview with 60 Minutes on Sunday, Colorado Gov. John Hickenlooper conceded that marijuana legalization so far has turned out better than he expected but suggested that other states should wait for more data before they follow Colorado’s example. “I urge caution,” he said a week before voters in five states decide whether to legalize marijuana for recreational use. “My recommendation has been to go slowly and probably wait a couple years and let’s make sure we get some good vertical studies to make sure that there isn’t a dramatic increase in teenage usage, that there isn’t a significant increase in abuse like while driving. We don’t see it yet…but we don’t have enough data to make that decision.”

That’s a perfectly reasonable position, if you assume that continued prohibition imposes no costs and that there is no moral problem with punishing people for actions that violate no one’s rights. Hickenlooper opposed Amendment 64, Colorado’s legalization initiative, on the grounds that his state should not be the first to take the risk of tolerating cannabis consumption without a doctor’s note. But he admits that the sky has not fallen as a result, while reserving the possibility that it may yet fall. Last May, after repeatedly saying he would reverse legalization if he had “a magic wand,” Hickenlooper told the Los Angeles Times, “If I had that magic wand now, I don’t know if I would wave it. It’s beginning to look like it might work.”

Hickenlooper is a model of intellectual honesty compared to former Colorado Gov. Bill Owens and and former Denver Mayor Wellington Webb, who appear in a TV spot urging Arizona voters to oppose Proposition 205, the legalization initiative on the ballot in that state next week. “Four years ago, Colorado voted to legalize marijuana,” Owens says in the ad. “Colorado now leads the nation in teen use of marijuana.” Since that was also true before legalization, Owens’ implication is more than a little misleading. Owens also claims that “marijuana edibles are marketed to children,” which is simply not true, since a minimum purchase age of 21 is strictly enforced and regulations prohibit adverising, packaging, and even product shapes that might appeal to kids.

Owens adds that “marijuana-related traffic deaths have increased 62 percent.” The source for that figure is a recent report from the Rocky Mountain High-Intensity Drug Trafficking Area, which counted “fatalities involving operators testing positive for marijuana.” That number includes drivers who tested positive for inactive metabolites or THC levels too low to affect their performace. The fact that a driver “test[ed] positive for marijuana” therefore does not mean he was under the influence of marijuana at the time of the crash, let alone that marijuana contributed to the crash. Contrary to what you might assume, “marijuana-related traffic deaths” are not necessarily traffic deaths related to marijuana.

Next up in the ad is Webb, who says, “We were promised new money for education. Instead that money is going to marijuana regulation and the pot industry.” As three Colorado legislators pointed out yesterday in an email to the leaders of the No on 205 campaign, the Colorado Department of Education got about $138 million in marijuana tax money in the two most recent fiscal years, which “far exceeds the amount that was distributed for the purposes of regulating marijuana” (about $21 million).

Also contributing to the confusion is Denver District Attorney Mitch Morrissey, who last month wrote a letter for opponents of legalization in California that claims “the Denver Police Department is busier enforcing marijuana laws and investigating crimes directly related to marijuana, including murderers [sic], robberies and home invasions, than any other time in the history of the city.” As The Denver Post notes, “The Denver Police Department’s own analysis [of] the city’s rising crime rates could not pin blame on marijuana. While some major crimes such as homicides, aggravated assaults and auto thefts have risen since pot was legalized, population growth is more likely the cause, the report said.” John Hudak, who studies marijuana policy at the Brookings Instititution, called the letter “a pretty strategic use of data that ends up being insulting to the public.”

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Gasoline Prices Spike Most Since 2008 After Pipeline Explosion

Following last night’s Colonial Pipeline explosion which killed 1 and injured several more, Wholesale gasoline prices have spiked most since Dec 2008 to 16-month highs as the closure of the largest fuel pipeline in America forces traders to book cargoes from Europe.

Prices spiked almost immediately – flash-smashing 15% higher before fading back… only to drift back to the highs this morning as reality sinks in…

 

Dramatically decoupling from Crude prices…

 

Leaving Gasoline prices at 16 month highs…

 

As Bloomberg reports, a spill in September closed the Colonial pipeline for 12 days, cutting supplies to 50 million Americans in the Southeast.

Gasoline traders responded immediately to the possible shortages, rushing to book extra tankers for replacement fuel supplies from Europe, according to two shipbrokers directly involved in the trade. Freight costs for cargoes across the Atlantic surged to the equivalent of about $17 per metric ton from about $12.40, according to data compiled by Bloomberg.

 

The southeastern U.S. is “highly dependent on pipeline supplies from Colonial, and, ultimately, Colonial flows form the baseline of U.S. East Coast supply,” Robert Campbell, head of oil products research at Energy Aspects Ltd. in New York, said in a note. The longer the mainlines are offline, “the more upward pressure will be placed on U.S. East Coast fuel prices, while downward pressure will be exerted on U.S. Gulf Coast product prices.”

 

The pipeline’s outage in September triggered fuel shortages across the region, causing motorists in cities such as Nashville, Tennessee, and Raleigh, North Carolina to rush to stations to fill their tanks. The shutdown altered international trade flows for fuel deliveries and led to a federal waiver of gasoline-grade rules. The governor of Georgia issued an executive order to reiterate a state law that prevents price gouging.

 

For the moment, retail regular-grade gasoline prices in states including Alabama, Georgia, South Carolina and Virginia are below the U.S. average of $2.206 per gallon, according to the U.S. motorist organization AAA. The data are from 3:39 a.m. Eastern Time.

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Clinton’s Final Test, Paul Ryan Votes Trump, Iraqi Forces Approach Mosul: A.M. Links

  • Hillary Clinton‘s final test.
  • Paul Ryan says he’s voted “for our nominee.”
  • U.S. futures dip ahead of the next meeting of the Federal Reserve.
  • A woman in North Dakota accused of shooting at officers during the pipeline protests is charged with attempted murder.
  • Iraqi forces approach Mosul.
  • Two busses collide in Baltimore, killng at least six.

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Podesta Part 25: Wikileaks Releases Another 2,460 Emails, Total Is Now 41,969

It is now exactly one week until the election, and what until recently seemed impossible, is suddenly all too real: the latest ABC/WaPo shows that Trump has a one point lead over Hillary, his first since May, and much of its thanks to the ongoing Wikileaks release of highly damaging Podesta emails. So, in the final stretch of the presidential race which has just a few days left, Wikileaks continues its ongoing broadside attack against the Clinton campaign with the relentless Podesta dump, by unveiling another 2,458 emails in the latest, Part 25 of its Podesta release, bringing the total emails released so far to exactly 41,969.

The release comes one day after Wikileaks warned that it was launching its “Phase 3” of election coverage this week, raising questions what else – if anything – Julian Assange has up his sleeve.

As usual we are parsing through the latest release and will bring readers the more notable emails.

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Wikileaks Reveals Google’s “Strategic Plan” To Help Democrats Win The Election, Including Tracking Voters

Among the latest set of Podesta releases, was the following email sent on April 15, 2014 by Google’s Eric Schmidt titled “Notes for a 2016 Democratic Campaign” in which the Google/Alphabet Chairman tells Cheryl Mills that “I have put together my thoughts on the campaign ideas and I have scheduled some meetings in the next few weeks for veterans of the campaign to tell me how to make these ideas better.  This is simply a draft but do let me know if this is a helpful process for you all.

 

While there are numerous curious nuances in the plan, presented below in its entirety, the one section that caught our – and Wikileaks’ attention – is the following which implicitly suggests Google planned the creation of a voter tracking database, using smart phones:

Key is the development of a single record for a voter that aggregates all that is known about them.  In 2016 smart phones will be used to identify, meet, and update profiles on the voter.  A dynamic volunteer can easily speak with a voter and, with their email or other digital handle, get the voter videos and other answers to areas they care about (“the benefits of ACA to you” etc.)

As a reminder, two days ago it was revealed that just days prior to the April 15, 2014 email, Schmidt had sent another email in which he expressed his eagerness to “fund” the campaign efforts and wants to be a “head outside advisor.” In the email from John Podesta to Robby Mook we learned that:

I met with Eric Schmidt tonight. As David reported, he’s ready to fund, advise recruit talent, etc. He was more deferential on structure than I expected. Wasn’t pushing to run through one of his existing firms. Clearly wants to be head outside advisor, but didn’t seem like he wanted to push others out. Clearly wants to get going. He’s still in DC tomorrow and would like to meet with you if you are in DC in the afternoon. I think it’s worth doing. You around? If you are, and want to meet with him, maybe the four of us can get on t

Another email from February 2015 suggested that the Google Chairman remained active in its collaboration with the Clinton campaign: John Podesta wrote that Eric Schmidt met with HR “about the business he proposes to do with the campaign. He says he’s met with HRC” and adds that “FYI. They are donating the Google plane for the Africa trip”

The remainder of Schmidt’s proposed plan, presented in its entirety below, is just as troubling.

Notes for a 2016 Democratic Campaign
Eric Schmidt
April 2014

DRAFT DRAFT DRAFT DRAFT

Here are some comments and observations based on what we saw in the 2012 campaign.  If we get started soon, we will be in a very strong position to execute well for 2016.

1. Size, Structure and Timing

Lets assume a total budget of about $1.5Billion, with more than 5000 paid employees and million(s) of volunteers.  The entire startup ceases operation four days after November 8, 2016.  The structure includes a Chairman or Chairwoman who is the external face of the campaign and a President who is the executive in charge of objectives, measurements, systems and building and managing the organization.

Every day matters as our end date does not change.  An official campaign right after midterm elections and a preparatory team assembled now is best.

2. Location

The campaign headquarters will have about a thousand people, mostly young and hardworking and enthusiastic.  Its important to have a very large hiring pool (such as Chicago or NYC) from which to choose enthusiastic, smart and low paid permanent employees.  DC is a poor choice as its full of distractions and interruptions.  Moving the location from DC elsewhere guarantees visitors have taken the time to travel and to help.

The key is a large population of talented people who are dying to work for you.  Any outer borough of NYC, Philadelphia, Atlanta, Boston are all good examples of a large, blue state city to base in.

Employees will relocate to participate in the campaign, and will find low cost temporary housing or live with campaign supporters on a donated basis.  This worked well in Chicago and can work elsewhere.

The computers will be in the cloud and most likely on Amazon Web services (AWS).  All the campaign needs are portable computers, tablets and smart phones along with credit card readers.

3. The pieces of a Campaign

a) The Field

Its important to have strong field leadership, with autonomy and empowerment.  Operations talent needs to build the offices, set up the systems, hire the people, and administer what is about 5000 people.  Initial modeling will show heavy hiring in the key battleground states.  There is plenty of time to set these functions up and build the human systems.  The field is about organizing people, voter contact, and get out the vote programs.

For organizing tools, build a simple way to link people and activities as a workflow and let the field manage the system, all cloud based.  Build a simple organizing tool with a functioning back-end.  Avoid deep integration as the benefits are not worth it.  Build on the cloud.  Organizing is really about sharing and linking people, and this tool would measure and track all of it.

There are many other crucial early investments needed in the field: determining the precise list of battleground states, doing early polling to confirm initial biases, and maintaining and extending voter protection programs at the state level.

b) The Voter

Key is the development of a single record for a voter that aggregates all that is known about them.  In 2016 smart phones will be used to identify, meet, and update profiles on the voter.  A dynamic volunteer can easily speak with a voter and, with their email or other digital handle, get the voter videos and other answers to areas they care about (“the benefits of ACA to you” etc.)

The scenario includes a volunteer on a walk list, encountering a potential voter, updating the records real time and deepening contact with the voter and the information we have to offer.

c) Digital

A large group of campaign employees will use digital marketing methods to connect to voters, to offer information, to use social networks to spread good news, and to raise money.  Partners like Blue State Digital will do much of the fund raising.  A key point is to convert BSD and other partners to pure cloud service offerings to handle the expected crush and load.

d) Media (paid), (earned) and (social), and polling

New tools should be developed to measure reach and impact of paid, earned and social media.  The impact of press coverage should be measurable in reach and impact, and TV effectiveness measured by attention and other surveys. 

Build tools that measure the rate and spread of stories and rumors, and model how it works and who has the biggest impact.  Tools can tell us about the origin of stories and the impact of any venue, person or theme.  Connect polling into this in some way. 

Find a way to do polling online and not on phones.

e) Analytics and data science and modeling, polling and resource optimization tools

For each voter, a score is computed ranking probability of the right vote.  Analytics can model demographics, social factors and many other attributes of the needed voters.  Modeling will tell us what who we need to turn out and why, and studies of effectiveness will let us know what approaches work well.    Machine intelligence across the data should identify the most important factors for turnout, and preference.

It should be possible to link the voter records in Van with upcoming databases from companies like Comcast and others for media measurement purposes.

The analytics tools can be built in house or partnered with a set of vendors.

f) Core engineering, voter database and contact with voters online

The database of voters (NGP Van) is a fine starting point for voter records and is maintained by the vendor (and needs to be converted to the cloud).  The code developed for 2012 (Narwahl etc.) is unlikely to be used, and replaced by a model where the vendor data is kept in the Van database and intermediate databases are arranged with additional information for a voter.

Quite a bit of software is to be developed to match digital identities with the actual voter file with high confidence.  The key unit of the campaign is a “voter”, and each and every record is viewable and updatable by volunteers in search of more accurate information.

In the case where we can’t identify the specific human, we can still have a partial digital voter id, for a person or “probable-person” with attributes that we can identify and use to target.  As they respond we can eventually match to a registered voter in the main file.  This digital key is eventually matched to a real person.

The Rules

Its important that all the player in the campaign work at cost and there be no special interests in the financing structure.  This means that all vendors work at cost and there is a separate auditing function to ensure no one is profiting unfairly from the campaign.  All investments and conflicts of interest would have to be publicly disclosed.  The rules of the audit should include caps on individual salaries and no investor profits from the campaign function.  (For example, this rule would apply to me.)

The KEY things

a) early build of an integrated development team and recognition that this is an entire system that has to be managed as such
b) decisions to exclusively use cloud solutions for scalability, and choice of vendors and any software from 2012 that will be reused.
c) the role of the smart phone in the hands of a volunteer.  The smart phone manages the process, updates the database, informs the citizen, and allows fundraising and recruitment of volunteers (on android and iphone).
d) early and continued focus of qualifying fundraising dollars to build the field, and build all the tools.  Outside money will be plentiful and perfect for TV use.  A smart media mix tool tells all we need to know about media placement, TV versus other media and digital media.

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Tronc Trumbles After Gannett Terminates Acquisition

Ultimately, Tribune’s, pardon, Tronc’s management and shareholders turned out to be too greedy for their own good.

After Gannett had made two previous offers to acquire Tronc, the publisher of such newspapers as the Los Angeles Times, the Chicago Tribune and the Baltimore Sun, one in April for $12.25 a share and a second in May for $15 a share – both of which were rejected by Tronc’s board rejected both as too low and not in shareholders’ best interests – the two companies ultimately agreed on a $18.75 take out price.

Alas, it was not meant to be and as we reported last week citing a Bloomberg article, the banks that were supposed to provide the debt financing for the transaction, pulled out “over concerns about the health of the two companies’ businesses at that valuation.”

So, after Gannett had been trying to buy Tronc for months to create a company with the scale to compete more aggressively with online news sites for national readers and advertisers, moments ago Gannett announced in a tersely worded press release that its was terminating discussions to acquire Tronc.

Gannett Co., Inc. Terminates Discussions to Acquire tronc, Inc.

 

MCLEAN, Va.–(BUSINESS WIRE)–Gannett Co., Inc. (NYSE:GCI) (“Gannett” or the “Company”) today confirmed that the Company has been engaged in discussions with tronc, Inc. (NASDAQ:TRNC) (“tronc”) regarding a potential transaction and has determined not to pursue an acquisition of tronc.

Tronc’s stock was down 30% in the premarket, down to just $8.50, far below Gannett’s first bid for the company.

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Peso Pounded As Trump Takes Lead In National Poll

Within seconds of the release of this morning’s ABC/WaPo poll showing Trump taking the lead in the national polls, the Mexican Peso has been dumped back near 19.00 against the dollar…

 

 

The peso is now seemingly the most sensitive election tracker but for now 19.00 remains a line in the sand that Democrats will be defending aggressively.

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Silver Krugerrands By South African Mint Coming Soon – New Source Of Demand For Silver Coins

Silver Krugerrands Produced By South African Mint – New Source Of Demand For Silver Coins

As interest in silver investment expands throughout the world, the South African Mint will produce its first Silver Krugerrand (1 oz ) which will be released this November.

silver-krugerrands

Silver Krugerrands (1 oz) 2017 (Source: SRSrocco)

As reported by Steve St. Angelo on Silver Seek:

“This is quite remarkable as the South African Mint has been producing Gold Krugerrands since 1967.

Matter-a-fact, the South African Mint has produced over 50 million oz of Gold Krugerrands over the past 49 years. It is the largest Official Gold coin producer in the world. The U.S. Mint’s Gold Eagle comes in second with over 22 million oz produced since the program started in 1987.

With the 50 year anniversary of the minting of the Gold Krugerrand in 2017, the South African Government will also release a new 1 oz Platinum Krugerrand along with its new silver coin. They also plan on adding some addition sizes of the Gold Krugerrand, such as a 1/20th, 1/50th oz variants as well as a 5 oz coin.

However, the big deal for the silver investor will be the new 1 oz Silver Krugerrand. The South African Mint plans on releasing 500,000 of the 1 oz 2017 Silver Krugerrand next year, along with 15,000 proofs.”

Read full article by Steve St. Angelo on Silver Seek here

 

Gold Krugerrands (1 Oz) – Massive Clearance Offer

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Gold and Silver Bullion – News and Commentary

Gold prices up in Asia as China PMIs lift demand views (Investing.com)

Gold steady; investors await cues from Fed (MoneyControl.com)

Gold sheds 3% for October but still underpinned by election jitters (MarketWatch.com)

Gold sits above 200-DMA despite strong China data (FXStreet.com)

Largest U.S. Fuel Pipeline Shuts After Work Blast – Gasoline Surges 12% (Bloomberg.com)

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US elections will push gold to hit $1,500: Technical analyst (CNBC.com)

Why Most Analysts’ Gold And Silver Price Forecasts Are Wrong (GoldSeek.com)

Net long gold COMEX positions up 10%, first increase in four weeks (Platts.com)

World to face stress test as dollar Libor spikes and bond rout deepens (Telegraph.co.uk)

Venezuelans give up on counting piles of cash and start weighing them (Bloomberg.com)

Gold Prices (LBMA AM)

01 Nov: USD 1,284.40, GBP 1,048.58 & EUR 1,167.52 per ounce
31 Oct: USD 1,274.20, GBP 1,046.25 & EUR 1,163.22 per ounce
28 Oct: USD 1,265.90, GBP 1,042.47 & EUR 1,160.96 per ounce
27 Oct: USD 1,269.30, GBP 1,038.29 & EUR 1,162.93 per ounce
26 Oct: USD 1,273.90, GBP 1,043.45 & EUR 1,166.13 per ounce
25 Oct: USD 1,269.30, GBP 1,037.53 & EUR 1,165.85 per ounce
24 Oct: USD 1,267.00, GBP 1,034.89 & EUR 1,163.61 per ounce

Silver Prices (LBMA)

01 Nov: USD 18.24, GBP 14.91 & EUR 16.54 per ounce
31 Oct: USD 17.76, GBP 14.59 & EUR 16.22 per ounce
28 Oct: USD 17.61, GBP 14.51 & EUR 16.13 per ounce
27 Oct: USD 17.66, GBP 14.41 & EUR 16.16 per ounce
26 Oct: USD 17.66, GBP 14.46 & EUR 16.17 per ounce
25 Oct: USD 17.73, GBP 14.49 & EUR 16.30 per ounce
24 Oct: USD 17.64, GBP 14.41 & EUR 16.19 per ounce


Recent Market Updates

– Trump “Will Probably Win” and Gold “May Rise $100” Overnight – Rickards
– World Is Out of Weapons
– Gold Is The “Kardashian of Commodities” – Herbert & Keiser Interview Skoyles
– Value of Gold – Unlike Paper Currency Gold Maintained Value Throughout Ages
– Fed Risks Lehman Crisis As US Recession Storm Gathers
– Silver Eagle Demand ‘Returned with a Vengeance’
– Cashless Society – War On Cash to Benefit Gold?
– “Higher Gold Prices” On Global Trade Slowdown – HSBC
– Euro “Will Collapse” As Is “House of Cards” Warns Architect of Euro
– Property Bubble In Ireland Developing Again
– “Gold Is A Great Hedge Against Politicians” – Goldman
– Sell Gold Now – Time To Liquidate Gold ETF, Pooled and Digital Gold
– Gold In GBP Up 43% YTD – “Massive Twin Deficits” To Impact UK Assets

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NYU Professor Criticized Trigger Warnings. Now He’s on Leave for the Semester.

NYUNew York University liberal studies professor Michael Rectenwald is on paid leave for the rest of the semester, and his vociferous criticisms of trigger warnings and far-left social justice activism may have something to do with it.

Back in September, Rectenwald created a Twitter account—Deplorable NYU Prof—in order to anonymously tweet attacks on PC culture.

“Why don’t you go to a safe space and tend to your obvious psychic wounds?” he wrote, directing the question to “social justice warriors.”

“The scariest thing about Halloween today is now the liberal totalitarian costume surveillance,” he also observed (not incorrectly).

Last week, Rectenwald succumbed to temptation and outed himself in the pages of Washington Square News. He maintained that he was neither a sincere member of the alt-right, nor an actual Trump supporter. In fact, he described himself as a left communist:

I don’t support Trump at all. I hate him — I think he’s horrible. I’m hiding amongst the alt-right, alright? And the point is, this character is meant to exhibit and illustrate the notion that it’s this crazy social-justice-warrior-knee-jerk-reaction-triggered-happy-safe-space-seeking-blah, blah, blah, blah culture that it’s producing this alt-right. Now, I’m not dumb enough to go there. And my own politics are very strong — I’m a left communist. But I think that in fact, the crazier and crazier that this left gets, this version of the left, the more the more the alt-right is going to be laughing their asses off plus getting more pissed. Every time a speaker is booed off campus or shooed off campus because they might say something that bothers someone, that just feeds the notion that the left is totalitarian, and they have a point.

His comments quickly drew the attention of something called the Liberal Studies Diversity, Equity, and Inclusion Working Group at NYU. The group published a letter critical of Rectenwald: it’s members contended that he was guilty of “illogic and incivility.”

And that’s fine. Rectenwald gets to say what he thinks, and his critic get to say what they think.

But according to The New York Post, Rectenwald was also summoned to appear before his department head and an HR representative. He told The Post that the administrators accused him of having mental health problems and gave him no choice but to take a leave of absence.

A spokesperson for the university denied Rectenwald’s account, telling the Gothamist that his leave was “voluntary.”

“We look forward to having him back when he’s ready,” said the spokesperson.

Rectenwald is a popular teacher, according to ratemyprofessor.com.

I don’t know whether Rectenwald embellished his tale of persecution, or whether NYU is being dishonest about punishing him. But it’s concerning to see an academic complaining about safe space culture one moment and run off campus the next. Perhaps Rectenwald’s exile is his own doing, but if the university permits no criticism of the regime of coddling its far-left students demand, it’s just as illiberal as he claims.

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