Guns And Schools: Can The Market Do Better?

Authored by Jeff Deist via The Mises Institute,

There is no epidemic of gun violence in America; quite the opposite in fact. But last week’s shooting at a high school in Florida was a grim and jarring reminder of deep cultural problems lurking just beneath the veneer of our materially comfortable society. Those problems are beyond the scope of libertarianism per se, but again we see that greater liberty will require a renaissance in civil society: nihilism and hopelessness among any segment of the population is far more dangerous than “assault rifles.” The less we are governed internally, the more we invite external governance from the state.

Millions of guns already exist everywhere in American households, so enacting laws “like Europe” won’t work. Voluntary turnovers of guns to police won’t even scratch the surface, much less entice criminals. Involuntary confiscation is both a political and practical nonstarter.  

There are no top-down political solutions available from Washington. Gun control doesn’t actually prevent crime, but it does provide the political class and media with another diversionary bitter cultural debate. Americans are deeply divided on guns, just as they are deeply divided on abortion and climate change and scores of other issues. And why should we expect otherwise, in a far-flung country of 320 million people with wildly diverse geographies, economies, and cultures?

Real federalism, long abandoned by progressives and conservatives alike, is one approach with the potential to reduce political conflicts over guns. Manhattan and Montana might have different perspectives here, and both can manage things without Congress. Contrary to popular belief, the Second Amendment neither “federalized” gun laws nor created a right to private ownership of firearms. It simply enshrined the notion that “the people” need to be armed to defend themselves potentially against the state itself.

We don’t need a constitution to recognize all humans have an innate and pre-existing right to self-defense. To make that right effective (especially for weaker members of society) tools must be employed. Guns are simply those tools, inanimate objects that cannot be imbued with innate qualities of good or evil. The right to own guns flows naturally from self-ownership of our bodies.

The libertarian response to mass shootings, in particular school shootings, is to allow teachers and other personnel to carry weapons on campus. In fact, the broader libertarian program is to have most people armed, or at least potentially armed, to create a safer (not to mention more polite) society. If we cannot snap our fingers and produce crime-free cities and neighborhoods where nobody needs to carry a gun, then at least we allow everyone the ability to dissuade or defend against criminal shooters.

This is all well and good, but ignores the market impulse to outsource services to specialists. This is why neighborhoods hire private security patrols, and why celebrities hire professional bodyguards. Not everyone wants to carry a gun or train themselves in gun proficiency. And there is the issue of scale, where individuals might find themselves arrayed against organized criminal gangs.     

Rather than endlessly debate the fraught political process of crafting illiberal gun control laws, we ought to think about private-market solutions that focus on controlling crime. We should think in terms of market economics, where private property and correct incentives give us what government and laws cannot: a mechanism to determine possible harms and the cost of protecting against or preventing those harms. People want safe neighborhoods and schools, which is just another way to say there is a market for them.

Generally speaking, the US legal system imposes premises liability on property owners whose negligence (or willful conduct) results in someone getting injured on that property. This arose conceptually through common law courts and juries applying general negligence concepts,

We accord different degrees of legal responsibility (“duty”) to landowners based on the identity of the injured party: a trespasser, for example, has less recourse to sue for injury than a business invitee (i.e., a customer). The law considers whether the injured party had a legitimate purpose being there, and in some cases whether they contributed to their injury through their own negligence.

The duty to make one’s property safe from a particular harm relates to, and in a sense hinges on, the foreseeability of that harm. Leaving spilled milk in a grocery aisle too long could well subject the owner to paying damages for a shopper who suffers a fall — a fall that was quite predictable and clearly caused by the wet floor. But intentional criminal acts by a third party, much like acts of God, generally absolve the property owner of liability. After all, no shooter ever entered the grocery before, so why must the owner guard against this most unlikely event?

But should a public school district have a higher duty to keep students safe than the grocer has for shoppers? Arguably yes, in that society values children’s lives, well-being, and innocence perhaps more than adults. And we force children into school attendance via truancy laws and meddling protective services agencies.

Furthermore, are school shootings now foreseeable even though they remain exceedingly rare? Does the media attention and notoriety given to such shootings change the calculus? At some point, perhaps today, school shootings could become foreseeable in the eyes of a jury.

We can’t necessarily draw conclusions here, but the question is whether the owners of public schools — generally municipal or county school districts — should be immune from lawsuits for school shootings simply because they are political subdivisions of states? Should sovereign immunity apply to them, or should they be forced to consider security measures just as private owners must? After all, it seems clear that a mass shooting at a prestigious private school would result in litigation.

It seems clear that imposing tort liability on school owners and operators, even government owners, would both improve security and provide a ready source of compensation for the families of victims. Private security agencies, which have a market reputation to develop or protect, almost certainly would provide more efficient service than government police — for the simple reason that more crime punishes their bottom line, while it often creates calls for increased police budgets. And private security models like Disneyland benefit from wanting to create a peaceful and happy environment, where security forces have every incentive not to escalate situations or incur liability.

Furthermore, private insurance models could help schools rationally allocate funds relative to the risks involved. Since school shootings are rare, premiums to cover such an event should be constrained. But other lesser types of crime in schools could be insured against as well, helping administrators better understand what they’re up against. And insurance companies would bend over backward to offer advice on avoiding shootings, since they would bear the cost of liability payments.

Admittedly, public schools using taxpayer funds to hire private security and pay insurance premiums muddies the waters. But at least it moves all of the parties involved — school districts, administrators, teachers, security providers, and parents — toward a market-based approach to safer schools. Tort liability, however imperfectly administered by government courts, offers one way to align the interests of parents and school owners in preventing further horrific events.

A rational system of private security and criminal control would focus on market solutions that actually reduce crime generally and provide meaningful compensation to victims. In other words, it would focus on prevention and restitution. The marketplace can provide both far better than the state, with its amorphous and broken system of criminal justice and mass incarceration — paid for by the taxpayers it claims to represent as “the people” in criminal cases. 

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Trump Admin Considering Student Loan Bankruptcy Options

The Trump administration is looking to clarify the rules which govern whether a person can discharge student loans in bankruptcy, according to a public notice issued by the Department of Education. The agency is seeking input in order to determine “whether there is any need to modify” how bankruptcy claims are evaluated.

Under current law, student loans cannot be discharged unless a borrower has filed for bankruptcy and can prove an “undue hardship” which prevents repayment. Circumstances which constitute undue hardship have never been defined by congress, leaving it to bankruptcy judges to decide on a case by case basis – typically setting extremely the bar extremely high.

As a result, very few borrowers are allowed to expunge their debt.

The Department of Education’s notice reads:

The U.S. Department of Education (Department) seeks to ensure that the congressional mandate to except student loans from bankruptcy discharge except in cases of undue hardship is appropriately implemented while also ensuring that borrowers for whom repayment of their student loans would be an undue hardship are not inadvertently discouraged from filing an adversary proceeding in their bankruptcy case. Accordingly, the Department is requesting public comment on factors to be considered in evaluating undue hardship claims asserted by student loan borrowers in adversary proceedings filed in bankruptcy cases, the weight to be given to such factors, whether the existence of two tests for evaluation of undue hardship claims results in inequities among borrowers seeking undue hardship discharge, and how all of these, and potentially additional, considerations should weigh into whether an undue hardship claim should be conceded by the loan holder.

Considering that nearly 40% of student loan borrowers from the mid 2000’s may default by 2023 according to Brookings, it’s clear something is going to need to be done, especially since the alternative is a wholesale taxpayer bailout.

Trends for the 1996 entry cohort show that cumulative default rates continue to rise between 12 and 20 years after initial entry. Applying these trends to the 2004 entry cohort suggests that nearly 40 percent may default on their student loans by 2023.

Debt and default among black college students is at crisis levels, and even a bachelor’s degree is no guarantee of security: black BA graduates default at five times the rate of white BA graduates (21 versus 4 percent), and are more likely to default than white dropouts. –Brookings

Meanwhile, Brookings released another study on Friday revealing that most borrowers who left school owing at least $50,000 in student loans in 2010 had failed to pay down any of their debt four years later. For those with floating rate loans, the pool of those “drowning in debt” will only get worse as the Fed continues to hike.

And as we showed earlier this month, auto loans and student loans just hit a new all time high to close 2017.

Roughly $1.38 Trillion in outstanding student loan debt is owned by over 40 million Americans – most of it secured from the federal government, according to the NY Federal Reserve. 11% of it is over 90-days delinquent, while over half of student loan debt is held by borrowers who don’t have to pay because they’re still students, unemployed, or for other reasons. According to the Wall Street Journal, “Strike out those instances and the share of delinquent student debt is more like 22%” based on federal figures. 

A Wall Street Journal analysis found that fewer than 500 people attempted to extinguish student debt last year, when roughly 766,000 individuals and couples filed for bankruptcy. The number of cancellation attempts has fallen by 45% since 2010 as fewer people filed for bankruptcy and as repayment programs for federal student loans grew in popularity.

Meanwhile, more and more borrowers are taking on far bigger debt-loads than in prior years – since those pizza parlor jobs don’t exactly pay for college anymore – and as the auto loan chart above shows, kids these days aren’t really into taking public transportation.

We wonder if newly minted Fed Chairman Jerome Powell has been reading the owner’s manual on that shiny helicopter Ben Bernanke loved so much. After all, it’s got that cool new “corporate bonds” and “equities” add-on package that’s sure to maintain market order in even the roughest conditions. 

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“He Never Went In”: Officer On Duty Filmed “Doing Nothing” During Florida Shooting

Video evidence reveals that an armed Broward County resource deputy stationed at Stoneman Douglas High School during the Valentine’s day massacre did “nothing” during the shooting – instead waiting outside as a gunman opened fire on students and teachers, killing 17. 

The uniformed officer, identified as Scot Peterson, was been suspended without pay pending an investigation, according to Broward County Sheriff Scott Israel – however he has since filed for retirement from the department. 

Israel said he was “devastated” after watching the video showing the deputy taking a position outside the Western side of Building 12 while shots rang out, never going in despite having a clear view of the entrance.

“I think he remained outside upwards of four minutes,” Israel said.

“These families lost their children, we lost coaches. I’ve been to the funerals. I’ve been to the homes where they’re sitting shiva. I’ve been to the vigils. It’s just, there are no words.”

When asked by a reporter what the deputy should have done, the Sheriff replied “Went in. Address the killer. Kill the killer.” 

The shooting lasted approximately six minutes before the suspected gunman, Nikolas Cruz, dropped his rifle and exited the school – blending in with fleeing students. 

The Sheriff also noted that his office was involved in 23 calls regarding suspect Nikolas Cruz and his brother, and has placed BSO Col. Jack Dale and deputies Edward Easton and Guntis Treijis on restrictive duty as investigators look into whether more could have been done to prevent the shooting.

“Some of the calls we responded out and met with his mother,” said Israel.

“I’ve restricted two of our deputies as we dig deeper into this, take statements and make a decision to see whether or not they could have done more, should’ve done more,” said Israel. 

Total Failure

Last week, the FBI agent in charge of the Florida shooting probe admitted that the Bureau had investigated a school shooting threat made on YouTube last year but could not identify person behind it – despite Nikolas Cruz using his real name to sign the threat.

The man who reported Cruz, Ben Bennight, spoke with the FBI last year for about 20 minutes, and there was no follow-up from the FBI after that initial conversation.

Then, Bennight told CBS that he again spoke with the FBI on Wednesday night for about 20 minutes. They wanted to know if he knew anything more after first reporting the YouTube video last year. He said the same agent/agents he spoke with last year came to his home Wednesday.

And last month, the FBI was warned a second time about Cruz: 

“A person close to” Cruz called the agency’s tipline on Jan. 5 and reported the 19-year-old had a “desire to kill people, erratic behavior, and disturbing social media posts” and there was “potential of him conducting a school shooting,” the FBI said in a statement. –NY Post

Furthermore, as we reported earlier today, CNN’s FOIA of Broward County 911 records has produced a steady stream of scoops about Parkland, Fla. school shooter Nikolas Cruz fleshing out much of what is publicly known about Cruz’s background and the various reports made warning the FBI and other authorities about his threatening behavior.

The police were warned about Cruz’s violent past – that he’d “used a gun against people before” and had “put the gun to others’ heads in the past” – but still they did nothing.

No wonder Sheriff Israel is beside himself – both the FBI, the Broward County Sheriff’s office, and the armed school resource officer did absolutely nothing to prevent the deaths of 17 students. And now, back to blaming guns.

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Uranium One: Undercover FBI Informant’s Attorney Demands DOJ Inquiry Into Coordinated Smear

The attorney for an FBI informant who was deeply embedded in the Russian nuclear industry is demanding that Attorney General Jeff Sessions investigate a coordinated smear campaign against her client. After several decades working for the CIA and the FBI, William Douglas Campbell uncovered two related bribery schemes involving Russian nuclear officials, an American trucking company, and efforts to route money to the Clinton Global Initiative through an American lobbying firm in order to overcome regulatory hurdles, according to reports by The Hill and Circa.

After details of Campbell’s undercover work for the FBI first emerged in an October 2017 report by The Hill – which did not divulge his name, Michael Isikoff of Yahoo News and Joel Schectman of Reuters published articles smearing Campbell, saying he was “so unreliable that prosecutors dropped him as a witness” in a case unrelated to his undercover work – while two “senior officials” within the Justice Department fed Congressional investigators the same thing during a December 15 briefing. 

Both statements were lies, as the case was related to Campbell’s undercover work, and he was dropped as a witness after the Baltimore U.S. Attorney’s office botched their case, which Campbell’s testimony would have weakened.

(Isikoff’s name may ring a bell, as a Yahoo News article he wrote after being fed information by former UK spy Christopher Steele was used as supporting evidence alongside the “Steele Dossier” in a FISA warrant application to surveil the Trump campaign). 

As part of the smear, Campbell’s name was also divulged in a public filing by the DOJ, “making him unemployable in the industry and leaving him to survive on Social Security” after decades of loyal service to both the CIA and the FBI. 

Campbell testified to Congressional investigators in February after an “iron-clad” gag order was lifted. 

Campbell’s lawyer Victoria Toensing, a former Reagan Justice Department official and former Chief Counsel to the Senate Intelligence Committee, fired off a letter to Attorney General Jeff Sessions on Tuesday demanding an investigation into Campbell’s character assassination – CC’ing DOJ Inspector General Michael Horowitz, along with several Congressional Investigators and others involved in the matter. 

The letter reads: 

“We write on behalf of our client, William Douglas Campbell, to request an investigation of disclosures by anonymous “federal officials” to the media and of Congressional briefings by “senior officials” of the Justice Department. The former provided false information about Mr. Campbell to the media. The latter provided false information about Mr. Campbell to Senate and House committees.”

Cloak and Dagger

After Campbell spent decades working for the CIA, he was “turned over” to the FBI for counterintelligence work due to relationships he had forged deep within the Russian uranium industry. While undercover, Campbell was required by the Russians – under threat, to launder large sums of money, allowing the FBI to uncover a massive Russian “nuclear money laundering apparatus.” 

The Russians forced Campbell to deliver bribes from Maryland transportation company TLI in $50,000 increments to Russian nuclear official Vadim Mikerin of Russian state-owned uranium subsidiary, Tenex. Campbell did so under the direction of the FBI in order to maintain his cover, fronting hundreds of thousands of dollars he says he was never reimbursed for.

While undercover, Campbell collected over 5,000 documents and briefs over a six-year period beginning in 2009, some of which are said to detail efforts by Moscow to route money to the Clinton Global Initiative (CGI) through lobbying firm APCO Worldwide – including video evidence of bribe money related to the Uranium One deal being stuffed into suitcases. 

“The contract called for four payments of $750,000 over twelve months. APCO was expected to give assistance free of charge to the Clinton Global Initiative as part of their effort to create a favorable environment to ensure the Obama administration made affirmative decisions on everything from Uranium One to the U.S.-Russia Civilian Nuclear Cooperation agreement.“ -William Campbell

Officials with APCO – the lobbying firm accused of funneling the money to the Clinton Global Initiative, told The Hill that its support for CGI and its work for Russia were not connected in any way, and involved different divisions of the firm.

As a result of Campbell’s work, the FBI pieced together evidence of a “Russian uranium dominance strategy” involving Tenex, TLI, and a pay-for-play scheme to route money to the Clinton charity to obtain approval from the Obama administration for the purchase of Uranium One, while Hillary Clinton was Secretary of State. 

In January, TLI co-president Mark Lambert was charged in an 11-count indictment in connection with the scheme, while Vadim Mikerin, who resides in Maryland, was prosecuted in 2015 and is halfway through a four-year sentence.

Despite the FBI’s knowledge of the money laundering scheme – while Robert Mueller was the Director, the Obama administration approved the related deal for Tenex to purchase Uranium One. 

When Campbell asked the FBI why all of the illegal schemes he uncovered weren’t being prosecuted, he was explicitly told it was political: 

“I remember one response I got from an agent when I asked how it was possible CFIUS would approve the Uranium One sale when the FBI could prove Rosatom was engaged in criminal conduct.  His answer: ‘Ask your politics,’ ” Campbell said.  

To thank him for his service, the FBI presented Campbell with a check for $51,000 at a 2016 celebration dinner in Chrystal City, VA. This was, of course, before the 2016 election – and before Congress began digging into relationships involving Russia.

“My FBI handlers praised my work,” testified Campbell. “They told me on various occasions that details from the undercover probe had been briefed directly to FBI top officials. On two occasions my handlers were particularly excited, claiming that my undercover work had been briefed to President Obama as part of his daily presidential briefing,” Campbell told Congress.

Railroaded

In a move which can only be interpreted as an effort to protect the FBI, the Obama administration and the Clintons, AG Jeff Sessions and Deputy AG Rod Rosenstein originally tried to suggest the nuclear bribery case uncovered by Campbell is not connected to the Uranium One deal

Via John Solomon of The Hill last November: 

Attorney General Jeff Sessions in testimony last week and Deputy Attorney General Rod Rosenstein in a letter to the Senate last month tried to suggest there was no connection between Uranium One and the nuclear bribery case. Their argument was that the criminal charges weren’t filed until 2014, while the Committee of Foreign Investment in the United States (CFIUS) approval of the Uranium One sale occurred in October 2010.”

In response, several congressional republicans pushed back:

Attorney General Sessions seemed to say that the bribery, racketeering and money laundering offenses involving Tenex’s Vadim Mikerin occurred after the approval of the Uranium One deal by the Obama administration. But we know that the FBI’s confidential informant was actively compiling incriminating evidence as far back as 2009,” Rep. Ron DeSantis, (R-Fla.) told The Hill.

“It is hard to fathom how such a transaction could have been approved without the existence of the underlying corruption being disclosed. I hope AG Sessions gets briefed about the CI and gives the Uranium One case the scrutiny it deserves,” added DeSantis, whose House Oversight and Government Reform subcommittees is one of the investigating panels.

Senate Judiciary Committee Chairman Chuck Grassley (R-Iowa) sent a similar rebuke last week to Rosenstein, saying the deputy attorney general’s first response to the committee “largely missed the point” of the congressional investigations.

“The essential question is whether the Obama Justice Department provided notice of the criminal activity of certain officials before the CFIUS approval of the Uranium One deal and other government decisions that enabled the Russians to trade nuclear materials in the U.S,” Grassley scolded.”

This is not just about bribery and kickbacks but about a U.S. company that was transporting yellow-cake for the Russians with our approval,” an unnamed U.S. Intelligence official told journalist Sara Carter in December, adding “This should raise serious questions.

Following the outcry, Sessions ordered Justice Department prosecutors to begin asking FBI agents to explain what they did with Campbell’s evidence, and why it didn’t factor into the Uranium One deal, according to NBC news. Where that investigation has gone, one can only imagine.

A senior law enforcement official who was briefed on the initial FBI investigation told NBC News there were allegations of corruption surrounding the process under which the U.S. government approved the sale. But no charges were filed.

And now, Victoria Toensing has another serious question for Jeff Sessions; will he get to the bottom of the coordinated effort to smear William Douglas Campbell – a man who dutifully served the CIA and FBI for decades until he chose an opportune moment to reveal a monumental corruption? We aren’t holding our breath, but hey – Inspector General Michael Horowitz was CC’d on the letter, so there’s hope. 

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Ron Paul Exposes The Truth About Inflation: “It’s The Fed’s Fault”

If the creation of new money affected everyone evenly, there would be no point in government granting monopoly privileges to a central bank, and as Ron Paul explains, “it’s precisely because some benefit at the expense of others, that monetary inflation is so intoxicating.”

In this brief clip, the libertarian details the tough times that lie ahead, and pins the blame ‘tail’ on the elephant-hiding-in-the-room…

“The Federal Reserve is the beating heart of big government, military empire, and the welfare state,”

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Disabled, Transgender Ex-Google Engineer Sues Tech Giant For Not Being Liberal Enough

Authored by Aman Jain via Valuewalk.com,

Google has again been accused of discrimination, retaliation and harassment by an employee. Tim Chevalier, a software developer and former site-reliability engineer at the search giant, filed a lawsuit on Wednesday in San Francisco County Superior Court.

Just last month a similar lawsuit was filed by an ex-Google engineer James Damore, who was sacked after he circulated the misogynist iniquitous 33,000-word memo talking about diversity at the company. The lawsuit argued that the search engine giant discriminates against white conservative men.

This recent lawsuit is another glimpse into the working culture of Google. According to Chevalier, Google fired him for his posts and memes on racism and sexism at the company, and for commenting on the infamous Damore memo.

Chevalier, a transgender and disabled, in a lawsuit stated that Google could not protect its minority, female and LGBTQ employees who are subjected to continuous harassment on internal forums. On the other hand, it took instant actions against the employees who encountered racism, homophobia and sexism at work.

“It is a cruel irony that Google attempted to justify firing me by claiming that my social networking posts showed bias against my harassers,” Chevalier said in a statement to The Verge.

Chevalier mentioned in the lawsuit that a Google HR representative met with him last year in September to discuss about his posts on the internal forums. Further, the lawsuit said that a common point in the offending posts was applying “politically liberal views to the ongoing political debates between Googlers.” The ex-Googler stated that six months after the conversation, he was fired.

In his complaint, Chevalier stated that according to HR, the term “White Boys” could be perceived as the generalization about the race or gender. Further, HR was also not happy with the internal Google+ post, where Chevalier criticized Republicans for associating themselves with protesters at the White-supremacist rally in Charlottesville, Virginia.

There are three other employees apart from Chevalier, who alleged that Google disciplined the employees from raising a voice against the discrimination. One of the employees spoke to Gizmodo on the condition of anonymity as they are not allowed to speak publicly about their work experience at Google.

In response to the latest lawsuit, a spokesperson from the company said:

“An important part of our culture is lively debate. But like any workplace, that doesn’t mean anything goes. All employees acknowledge our code of conduct and other workplace policies, under which promoting harmful stereotypes based on race or gender is prohibited.”

Further, the spokesperson stated that this it is a very standard expectation that most employers expect from their employees, and that the majority of Google employees express their opinion and get involved in discussions within the boundaries that have been appropriately drawn up by Google. However, when an employee defies it, the search giant takes the matter seriously.

“We always make our decision without any regard to the employee’s political views,” the spokesperson said in a statement.

Meanwhile, last week, the U.S. National Labor Relations Board clarified that the search giant did not break any rules by firing Damore. The agency believes that Damore was not ousted because he criticized the policies of Google, but over “unprotected discriminatory statements” in his memo.

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The True Nature Of The “Viral” #OneLess Movement – And The Real Danger Behind It

Authored by Jon Hall via Free Market Shooter blog,

After the recent school shooting in Parkland, Florida, the mainstream media has been on a righteous crusade against firearms.

Only a week after the heinous incident that left 17 dead, the legacy media has been mobilized to decry and demonize guns – using the students of Marjory Stoneman Douglas High School as their own political pawns. However, on Tuesday nightNBC Nightly News took the effort to vilify firearms to an entirely new level with the #OneLess movement.

In the NBC report, they highlight Scott Pappalardo – a gun-owner who uploaded a Facebook video showcasing him destroying his AR-15 and igniting the “viral” movement. In the video, as he destroys the gun, Pappalardo can be heard saying:

I’m going to make sure this weapon will never be able to take a life. Now, there’s one less.

NBC’s Savannah Guthrie even talks up the #OneLess movement at the beginning of the report, boasting that the movement is “going viral” – even though mainstream media can only find four confirmed cases of firearm owners actually destroying their weapons (which they have broadcasted repeatedly as evidence of the “viralness” of #oneless).  

For the most part, the #OneLess hashtag has been an exercise in trolling and/or virtue-signaling.

For instance, we have one user claiming to have “destroyed” his AR-15 when in reality, it’s just disassembled:

https://twitter.com/Alefantis1488/status/965815937223024641

Another user virtue-signals (or trolls) by showing a handgun that’s supposedly been “destroyed” but has only been field-stripped:

https://twitter.com/TrippyMcGuire56/status/966190679746600961

Yet another user simply either virtue-signaling (or trolling) with an image of another “destroyed” gun that’s just been disassembled:

https://twitter.com/HeyefoWyatt/status/966148635993001984

Perusing the #OneLess hashtag, it’s obvious that – amongst the sole few who actually did destroy their guns – the rest are in it for the notoriety and retweets. Even with the 17 million views amassed by Pappalardo’s original video, #OneLess has far more trolls than it does destroyed firearms.

Furthermore, the concept behind the movement is fundamentally flawed. Although the mainstream media acts like they are, guns aren’t conscious beings and cannot sneak out of the house and shoot someone – a finger has to be pulling the trigger to fire. Unless Pappalardo and any others who destroyed their rifles were planning a mass-shooting and kept their firearms secured, the #OneLess call-to-action accomplishes absolutely nothing.

Going even further, a gun might be your last defense between life and death if push comes to shove. If a maniac opens fire in a school, church, or any other “gun-free” public setting, the only thing that can incapacitate them and effectively end their killing spree is another gun. “#OneLess” gun means one less firearm to defend yourself or your family with in a potential time of dire need.

 

Bear in mind, criminals and felons aren’t destroying their guns to show how progressive they are. However, virtue signaling peddled by the anti-second Amendment mainstream media is being used in an attempt to turn law-abiding gun owners into criminals.

*  *  *

Editor’s note: A couple very major facts have been omitted by not just mainstream media, but by firearms writers/bloggers, who have rightfully pointed out that Pappalardo improperly dismantled his firearm, and may have illegally created an SBR in the process.  

Pappalardo’s rifle clearly has an “A1” grip that is common of the earliest AR-15s produced in the Vietnam War era.  Unless Pappalardo’s rifle was a collector’s item or a pre-ban Class III full-auto, he was destroying a very old AR iteration that likely had very little (if any) resale value.  

The stunt is even more suspect when you consider that Pappalardo lives in New York State.  Under the NY SAFE Act, all new AND existing “assault weapons” had to have been registered with the state no later than April 15th, 2014.  Pappalardo’s rifle clearly has a pistol grip and a muzzle brake (or flash hider, barrel shroud, or compensator, if you want to be specific), making it a “banned” item.  New York State’s rate of compliance with the SAFE Act is about 4%, making the odds very high that Pappalardo was illegally owning and possessing his rifle in the first place.  

If he wanted to get rid of this old weapon because he was owning it illegally, this would be one novel way to do so without facing risk of prosecution.  That is, if he didn’t dismantle it illegally in the first place.  

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Mueller Files New Tax And Bank Fraud Charges Against Manafort

Special Counsel Robert Mueller announced late Thursday that a Virginia grand jury has approved a slate of new charges against former Trump campaign executive Paul Manafort and Manafort’s former deputy, Rick Gates – a move that has been widely anticipated for weeks.

The two men are now facing 32 charges – that’s 20 more than the original 12-count indictment.

In October, Manafort and Rick Gates were indicted for laundering millions of dollars earned while purportedly acting as unregistered agents of the Ukrainian government. In the superseding indictment filed on Thursday in federal court in Washington, they face new charges of tax evasion and bank fraud, as Bloomberg pointed out.

“Manafort and Gates generated tens of millions of dollars in income as a result of their Ukraine work,” the new indictment said. “From approximately 2006 through the present, Manafort and Gates engaged in a scheme to hide income from United States authorities, while enjoying the use of the money.”

The charges were likely approved earlier this month, and have been under seal until today. The new indictment claims Paul Manafort laundered more than $30 million in income, with Gates’ assistance, and disguised more than $10 million in income from Cypriot entities by disguising them as loans. It also claims Manafort obtained millions of dollars in financing through “false and fraudulent” representations.

Mueller

Thanks to legal wrangling over Manafort’s $10 million bail package, observers were given a hint of the charges late last week. NBC News reported yesterday that at least some of the bank fraud charges hinge on whether Manafort promised Stephen Calk, a Chicago Banker and president of the Federal Savings Bank, a position on Trump’s Council of Economic Advisers in August 2016. Manafort received three loans in total from Calk’s bank. Manafort borrowed nearly $18 million from the bank in 2016 and 2017.

Here’s NBC:

Special counsel Robert Mueller’s team is now investigating whether there was a quid pro quo agreement between Manafort and Calk. Manafort left the Trump campaign in August 2016 after the millions he had earned working for a pro-Russian political party in Ukraine drew media scrutiny. Calk did not receive a job in President Donald Trump’s cabinet.

The sources say the three loans were questioned by other officials at the bank, and one source said that at least one of the bank employees who felt pressured into approving the deals is cooperating with investigators.

In court filings Friday related to Manafort’s bail, federal prosecutors said they have “substantial evidence” that a loan made from the bank to Manafort using the Virginia and Hamptons properties as collateral was secured through false representations made by Manafort, including misstatements of income.

This isn’t the only bad news for Manafort: A judge rejected a motion by Manafort’s legal team to modify the terms of his bail agreement.

According to the Hill, US District Court Judge Amy Berman Jackson wrote in court documents that Manafort’s proposal to pledge his property in Alexandria, Va., as part of his $10 million bond was “unsatisfactory,” as the property is already pledged as collateral for a loan on one of Manafort’s other properties. Manafort must prove he is current with his mortgage payments on another property located on New York’s Fifth Avenue in order for it to be pledged as part of his bond.

The charges were first filed under seal Wednesday afternoon.

Rumors have circulated that Gates is preparing to cooperate with the government and testify against Manafort, his former boss. Gates’ legal team is scheduled to hold a sealed court hearing in Washington on Friday on a request by Gates’ lawyers to withdraw from the case – a sign that Gates might be preparing to turn against his old boss, according to CNBC.

Though the Daily Beast is now reporting that Gates has fired his lawyer.

The new charges, which carry potentially lengthy prison sentences, could increase the pressure on both men to cooperate in the probe.

Read the superseding indictment below:

 

2 22 18 US Status Report by Anonymous JJ6eerL on Scribd

 

via Zero Hedge http://ift.tt/2EYx6gg Tyler Durden

“We’re Human, Too” – Winter Olympics Heat Up As Tinder, Pornhub Report Spike In Usage

Olympic athletes’ fondness for hookup apps like Tinder has been, uh, well-documented by the mainstream press…

So it’s hardly a surprise that Tinder has reported a massive usage spike in PyeongChang, South Korea since the Winter Games began on Feb. 9…

Figureskating

…Tinder usage has risen 348% since the start of the Games…

Tinder, that great facilitator of modern romance, has reported that the action has been heating up as many athletes from around the world look for some constructive activities to fill their downtime following the conclusion of their events.

Usage of Tinder in Pyeongchang has spiked 348 percent since the start of the Olympics, according to the company. Not surprising with so many fit and attractive athletes on hand.

“Every Olympics we hear that Tinder is ‘on fire’ in the Villages and we notice our usage increase significantly when people from around the world gather for an event,” a spokeswoman told Reuters.

Expect things to get even more fiery as the Games head towards their conclusion on Sunday and more athletes find themselves stuck in a strange place with time to spare…

But for those athletes who can’t – or won’t – find the time to arrange a steamy foreign hookup, there’s always Pornhub, which unsurprisingly has also reported a usage spike of its own of the magnitude that has previously been measured in the aftermath of a ballistic missile scare.

Traffic to PornHub in the Gangwon-do area, where the Olympic village was located, had increased by 85% on Feb. 12, according to the website. The company attributed the surge to “the influx of Olympic athletes, press and spectators.”

For whatever reason, USAToday’s sports section decided to investigate why anybody would watch porn in an area teeming with young, toned athletes…

What they learned might surprise you…

When quizzed about why pornographic assistance would be needed when the Village is reportedly a hotbed, literally, of inter-mingling, the response was to the point.

“Before competing, it is online stuff,” the male athlete said. “Afterwards is when it’s time for the real thing.”

PornHub is nothing if not detailed. They took a look at the most popular searches and found that “threesomes” were the most searched item on their site during the Games.

“And you’re surprised by that?” a female athlete laughed. “It makes perfect sense. For guys, they like being part of a team. For women, it is about efficiency. You’re trying to get as much as you can in the shortest time possible.”

…Of course, not everybody appreciates being asked probing questions about their sex lives…

“Dude, are you serious?” one United States male athlete responded to USA TODAY Sports when told the increased activity. “You want to talk about porn? Okay, well yeah, we’re human and we have needs too, just like anyone else.”

With the proliferation of apps, young people have grown accustomed to hooking up with people they meet online. But the apps have only changed the face of dating at the Olympics – the Games were notorious for being a hotbed for hookups even before the Internet age. Case in point: The press has been keeping record of the Games’ latex supply since the late 1980s…

via Zero Hedge http://ift.tt/2omSHoi Tyler Durden

Why The Most Recent Sell-Off Was Just The Beginning

Authored by Simon Black via SovereignMan.com,

On October 19, 1987, the Dow experienced its biggest one-day percentage loss in history – plunging 22.6%.

It was “Black Monday.” The selloff was so fast and so severe, nothing else even comes close.

The second worst percentage loss for the Dow was October 28, 1929 (also Black Monday) when the exchange fell 12.82%. It fell another 11.73% the next day (you guessed it… “Black Tuesday”). Then the Great Depression hit.

A lot of people blame portfolio insurance for the market drop in 1987.

Portfolio insurance was a popular product for large, institutional investors. It would “hedge” portfolios by selling short S&P 500 futures (which profit when the market falls) when stocks fall… the idea was, gains from selling the S&P futures would offset losses from falling stock prices.

If stocks fell more, the big investors would sell more futures.

The problem with portfolio insurance is it was programmatic. And when the losses inevitably came, it created a feedback loop. Selling begot selling.

But what initially ignited that selling back in 1987?

Matt Maley is a former Salomon Brothers executive who was on the trading floor for Black Monday. He shared his thoughts with CNBC last year to mark the 30th anniversary of the event.

Maley reminded us of the popularity of another strategy in those days – merger arbitrage. This was the time of Gordon Gekko, when corporate raiders would borrow tons of money – typically via high-yield bonds – to buy other firms.

Merger arbitrage is simply buying shares of the takeover candidate and shorting shares of the acquiring firm. It’s a speculative strategy that tries to capture the spread between the time the deal is announced and when it (hopefully) closes.

The merger arb guys were already on edge because interest rates had been rising, making risky takeover deals even harder to complete.

Then, out of nowhere, the House Ways and Means Committee introduced a takeover-tax bill on the evening of October 13 that, simply put, would repeal lots of tax breaks related to M&A activity.

The next day, Wednesday, shares of the takeover stocks plummeted and caught the already edgy traders off guard.

The selling continued through Friday. Margin calls were triggered, forcing investors to sell even more.

Then came Black Monday.

After a turbulent week, mutual funds were facing massive redemptions. They were forced to start selling stock along with the merger arb guys… only in much larger size.

The plummeting stock market triggered portfolio insurance to step in and start selling tons of futures short, which only worsened the selloff.

That scared individual investors, who redeemed even more mutual fund shares.

It was the feedback loop from hell.

The point is… an unexpected bill from congress helped to push an already nervous market over the edge.

And that brings us to today…

Earlier this month, the market dropped a very speedy 10% from its all-time high.

The selloff occurred because higher-than-expected wage growth stoked inflation fears. Higher inflation means the Fed may have to raise interest rates sooner than expected. All else equal, higher interest rates mean lower stock prices.

And this panicked selling was based only on the fear of higher interest rates.

To be fair, this market has gone nowhere but up since 2010. And volatility has scraped along the bottom that entire time. People have been lulled into this false sense of security that the stock market is a safe place that guarantees healthy returns.

In short, the market doesn’t know what to do with negative inputs today… much less some really bad news.

And, just like in 1987, there is a massive amount of programmatic trading taking place. Only today, brokers don’t have to pick up the phone to place a sell order when a certain price level is breached.

Instead, we have supercomputers that trade at lightning fast speeds and process market information almost instantaneously. The automatic selling – or buying, for that matter – happens quickly. The feedback loop has sped up exponentially.

That’s paired with more and more money that has flowed into backward-looking strategies that only work during times of low to no volatility. But, as we saw earlier this month, these strategies are utterly useless when the environment changes.

Take volatility targeting for example… it’s when portfolio managers change allocations based on volatility. Coming into the recent shock, with volatility near record lows, these funds were as long as they could possibly be.

That strategy had worked great for years as the market steadily rose higher.

But when the selloff started on February 5, the VIX jumped 116% in one day (the largest move ever). And the volatility targeting crowd ran for cover, selling potentially hundreds of billions of dollars in equities.

People have also been betting outright against volatility, which again, has been a profitable strategy for years. The VelocityShares Daily Inverse VIX Short-Term ETN (XIV), which moves inversely to the VIX, was one of the most popular tools for this.

But, when the VIX jumped 116% in a day, that fund lost about 95% of its value. Then XIV announced it would liquidate (the fund had $1.8 billion at its peak). Investors were wiped out.

And it wasn’t just individual investors using this strategy… Even pension funds and sovereign wealth funds were getting in on the action as a way to generate income, which is totally absurd. These are supposed to be the safest and most conservative investors around.

In addition to all of this money chasing volatility-linked strategies, we’ve also seen a massive amount of money flow into passive strategies (which buy indexes regardless of price or value)… a lot of that money has been in the form of exchange-traded funds (ETFs).

But trillions of dollars are now deployed in this value-agnostic strategy, which means people are allocating capital simply because the trend is up. More than that, it’s in the form of highly liquid ETFs… so these investors, who don’t have high conviction in the first place, can quickly dump their position when the tides turn.

Finally, there’s more than $300 billion managed by trend-following hedge funds. And their computers sell furiously on the way down.

So all of this money has been invested on the premise that volatility won’t return to the market. The Volatility Index (VIX) had its biggest one-day move ever this month and investors panicked.

But that’s just a taste of what’s to come. Imagine the selling we’ll see when there’s actually bad news.

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via Zero Hedge http://ift.tt/2EMbEaQ Tyler Durden