Trinity Prof.: “Whiteness Is Terrorism”, Slams Obamas As “White ‘Kneegrows”

Authored by Brittany Slaughter via Campus Reform,

Trinity College professor is in hot water after tweeting “whiteness is terrorism.” 

Professor of Sociology Johnny Eric Williams followed that tweet with another saying, “all self-identified white people (no exceptions) are invested in and collude with systematic white racism/white supremacy.”

The professor has since made his account private but the tweets can be seen on The Hartford Courant.

Williams also called out former President and First Lady Barack and Michelle Obama. According to the Hartford Courant, he said,

“I’m referring to [Turning Point USA leader Candace Owens’] other and less brazen but more insidious dangerous ‘white’ kneegrows like Barry and Michelle Obama and many other white kneegrows you encounter daily.”

Campus Reform spoke with a member of the Trinity College Republicans regarding the professor, his most recent comments, and his past.

“Everyone really questions, even liberals, why is he still here?” the student, who wished to remain anonymous, said.

“I think that’s kind of a question a lot of people are asking is, he advocated for white genocide, why is he still here?” 

The College Republicans member said students are generally apathetic at the college, but that Williams has changed that.

I think if you ask anyone on campus that is not as radical as he is, they will be like ‘he needs to go,’ which is interesting because at Trinity College, most students are pretty apathetic toward really everything, so to have such a high defensive that an individual needs to go, that really says something.”

According to the student, who said they have taken a class with the professor before, Professor Williams is known for failing students for no reason and requiring students to sign a waiver stating they may not discuss or email about what is said in class.

“He tells students all the time [that] he doesn’t care about their grades, he’ll fail students just to fail students,” the College Republicans member said.

“Most students, even students of color, do not like Professor Williams. I’ve talked to many students that either have him or have had him. He’s a terrible professor. He makes students sign a waiver as they take his class where they’re not allowed to send emails, they’re not allowed to talk about what he says in class because he knows what he says will get him in trouble.”

The source told Campus Reform that the professor has a right to say what he wants under free speech, but as a professor and representative of the college, he should be professional. According to the student, though, Williams’ rhetoric is far from that.

“His behavior is horrible and that needs to be checked by the administration.”

“Trinity College supports academic freedom and free expression and inquiry, which are hallmarks of academia and democratic society,” Trinity College President Joanne Berger-Sweeney told Campus Reform. “When speech proves controversial, our responsibility as educators is to promote more debate and discussion, not less. Twitter is a challenging place for a thoughtful discourse, which is clear from this example.”

The student who spoke with Campus Reform, however, says there is more to it than free speech, saying that the administration is either afraid of the professor or agrees with what he says.

“It’s either you’re so terrified of the vocal minority that just screams, that you’re so terrified of that that you don’t know what to do, or you actually agree with them and you want to keep these opinions being heard,” the College Republicans member told Campus Reform

As Campus Reform previously reported, Williams was placed on leave in 2017 after posting on Facebook that whites were “inhuman assholes” and suggesting that first responders to the congressional baseball shooting should have “#LetThemF*ckingDie.” 

Williams did not return a request for comment in time for publication. 

via ZeroHedge News http://bit.ly/2Wd9ji4 Tyler Durden

Top Guantanamo Bay Commander Fired Following Investigation

The top military commander in charge of the detention facilities at Naval Station Guantanamo Bay in Cuba was relieved of his command over the weekend by SOUTHCOM commander Adm. Craig Faller due to a loss of confidence in his ability to command, officials said in a release. 

U.S. Navy Rear Adm. John Ring, Joint Task Force Guantanamo Commander, pauses while speaking during a roundtable discussion with the media on April 17, 2019. ALEX BRANDON/AP

Navy Rear Adm. John Ring was fired on Saturday as the commander of Joint Task Force Guantanamo Bay, after leading some 1,700 personnel responsible for the oversight of 40 ‘law of war’ detainees captured in Iraq and Afghanistan almost two decades ago, according to Stripes. Ring took command of JTF-GTMO in April, 2018, and was fired following a monthlong investigation that concluded in mid-April. 

Faller’s decision came at the conclusion of a monthlong investigation that was completed in mid-April, said Jose Ruiz, a SOUTHCOM spokesman. He declined to provide additional information about that probe, including the reason it was launched. Ring will soon be assigned temporary duties elsewhere within SOUTHCOM.

Army Brig. Gen. John Hussey, who had been serving as Ring’s deputy, was named the acting commander of Joint Task Force Guantanamo Bay, according to the statement. –Stripes

“This change in leadership will not interrupt the safe, humane, legal care and custody provided to the detainee population” at Guantanamo Bay, according to the statement by SOUTHCOM. 

Ring had been pushing for new facilities at the detention center located on the southeastern coast of Cuba. Last year he described the classified Camp 7 facility as ‘deteriorating’ according to Stripes. Ring has also said that he wanted more funding to care for the aging population of enemy combatants – some of whom are in their 70s. 

The admiral made similar pitches to reporters visiting the base this month, according to news reports in the New York Times and Defense One. A SOUTHCOM official told the Times that Ring’s removal was not related to those news reports.

Ring was commissioned into the Navy in 1988. His past commands include Carrier Airborne Early Warning Squadron 113, the USS Comstock dock landing ship and the USS Nimitz aircraft carrier. –Stripes

Army Brig. Gen. John Hussey – who has been the deputy commander of JTF-GTMO, will serve as its acting commander until a permanent replacement is chosen. He is a veteran of Operation Desert Storm and has seen action in Iraq and Afghanistan. 

via ZeroHedge News http://bit.ly/2GIStRz Tyler Durden

Paul Krugman: Economic Extremist?

Authored by Andrew Moran via Liberty Nation,

Our favorite failed prophet just keeps getting it wrong

There is no other mainstream economist who has the propensity to dismiss everything he disagrees with as malevolent, macabre, and meretricious than the first-ever fake news award winner, Paul Krugman.

In today’s toxic political environment, the left takes great pride in declaring everyone right of Senator Elizabeth Warren (D-MA) and everything right of the Green New Deal as Hitlerian. But Krugman adopted this shtick before it was cool to sound like a paranoiac who runs around parking lots in the nude screaming about socialism. Sound money? Hitler. Austerity? Nazism. Deflation? The Third Reich. (It’s ironic that he complained about the right comparing former President Barack Obama and his administration to Hitler.)

Krugman has ostensibly gone all in on the worst possible descriptors of President Donald Trump and the Republican Party. In his latest New York Timesblog post, titled “Republicans Are the Real Extremists,” he described the GOP as extremists, conspiracy theorists, enemies of democracy, white nationalists, and sexists. It was as if he binge-watched the Counterfeit News Network the night before and just finished a brainwashing session at the Southern Poverty Law Center. But that wasn’t all.

Trumponomics: Yea Or Nay?

Krugman begins his recent opinion piece by disparaging President Trump and his policies, calling them a “failure” and “unpopular.” It’s unclear which policies he’s referring to, though he makes a passing reference to the tax cuts. Let’s use that as a barometer.

It is true that polls show the 2017 tax reform legislation has been largely unpopular among the American people, likely due to the mostly negative press from the mainstream media. But should polls serve as a measurement if something is effective or not? When someone is asked what they want to see more in a newspaper, they will typically say business, foreign news, and crosswords, but they really prefer more sports, entertainment, and word searches. The same can be said of politics.

When one half of the country detests the president, there is no way they’re going to concede an inch to Trump.

The better way to determine if the tax cuts worked is using real life examples and data. In the aftermath of the tax cuts, Corporate America decided to go on an investing binge, raising their minimum wages, offering bonuses, improving workplace infrastructure, and enhancing or introducing benefits. Moreover, job creation is averaging 200,000 per month, wages keep climbing, and the personal savings rate is hovering around 8%.

Krugman later mentions in his op-ed that the majority of the country thinks the rich pay too little in taxes. Sure, they can believe this, but it’s not true. The wealthy pay most of the nation’s tax bill.

Does Krugman really believe that the tax cuts are not working, or is he just being a partisan hack?

Fox News Propaganda

For years, Krugman and his left-leaning brethren have been on a constant barrage against the Fox News Channel, claiming that it is a mouthpiece for the Republicans. Krugman was at it again, accusing the GOP of “commanding a powerful propaganda machine.” He also complained how Fox News and its sister station, the Fox Business Network, apparently referred to Rep. Alexandria Ocasio-Cortez (D-NY) 6,000 times in a six-week period.

What is often omitted from the handwringing against Fox News is that the network’s right-wing slant is nothing compared to the force of the left-wing bias of ABC, CBS, CNN, MSNBC, and NBC. Although Fox is a ratings juggernaut, if you combine the viewership of these leftist networks, then the home of Tucker Carlson and Laura Ingraham is a drop in the bucket.

Fox News is exposing Rep. Ocasio-Cortez, but this reportage is only offsetting the favorable coverage that she receives from the other bewitched and infatuated major players in cable news.

Criticism Is [Insert Ism Here]

According to Krugman, any concerns over the extremism of AOC and Representative Ilhan Omar (D-MN) “are just a cover for sexism and white nationalism.” He further states – one can only hope in jest – that neither women are “staking out policy positions that are extreme.” As William F. Buckley said, “I won’t insult your intelligence by suggesting that you really believe what you just said.”

Does the Nobel Prize recipient really think that criticizing someone’s policies is sexist and racist? By this admission, he possibly subscribes to Rep. Ocasio-Cortez’s idea that requesting a debate is akin to “catcalling.” Krugman is likely trying to avoid debate over their vacuous proposals. And, does he also genuinely believe the Green New Deal, Modern Monetary Theory (MMT), 70% tax rates, and open borders are not extreme? If a politician is advocating abolishing the combustion engine, handing over the printing press to Congress, and guaranteeing an income even for those “unwilling to work,” then common sense would dictate that that is extreme.

Moore Extremism

But do you know who is the real extremist? Why, none other than Stephen Moore, the president’s conservative pick to serve on the Federal Reserve Board of Governors. According to Krugman:

“What’s coming out only now, however, is the extent of Mr. Moore’s political extremism. Many of his past statements — like his assertion that ‘capitalism is a lot more important than democracy’ — sound like a liberal caricature of conservatism. But it’s not a caricature; Mr. Moore shows us what the right actually thinks.”

So, what makes Moore an extremist and not someone like Rep. Omar? He disagrees with Moore’s stances, such as swapping an income tax with a sales tax, privatizing Social Security, and eliminating hundreds of jobs from the Federal Reserve. A lot of people would dispute Moore’s recommendations, but they’re far from being extreme. Many tax reformists are in favor of a general consumption tax, Sweden has privatized its version of Social Security (Krugman has writtenmany love letters to Scandinavia), and the Fed is a monstrosity that has done more harm than good.

However, to the mind of Krugman, giving everyone a pot of cash is sensible and changing the tax structure is destructive.

Paul Krugman: Economic Extremist?

Using the same criteria as Krugman would leave you asking: Is Paul Krugman an extremist? Let’s be candid: The principles of Keynesianism — such as money-printing will create prosperity, broken windows will stimulate the economy, and economies need bubbles to generate new wealth – are extreme. As we have learned in just the last decade, easy money has indebted more Americans, war and natural disasters destroy lives, and the housing crash left behind reckless abandon. What’s next? A space alien invasion to spur economic growth? Oh, wait. Never mind.

via ZeroHedge News http://bit.ly/2IN0okt Tyler Durden

Planned Lone-Wolf (?) Jihadist Attack in L.A. Thwarted

From the Justice Department:

Mark Steven Domingo, 26, of Reseda, California, [a former U.S. Army infantryman with combat experience in Afghanistan,] was arrested Friday night after he received what he thought was a live bomb, but in fact was an inert explosive device that was delivered by an undercover law enforcement officer as part of an investigation by the FBI’s Joint Terrorism Task Force….

In a criminal complaint filed by federal prosecutors on April 27, 2019, and unsealed earlier today, Domingo was charged with providing and attempting to provide material support to terrorists. … According to a 30-page affidavit in support of the complaint, since early March, Domingo “planned and took steps to manufacture and use a weapon of mass destruction in order to commit mass murder.”

In online posts and in conversations with an FBI source, Domingo expressed support for violent jihad, a desire to seek retribution for attacks against Muslims, and a willingness to become a martyr, according to the affidavit.  After considering various attacks – including targeting Jews, churches, and police officers – Domingo decided to detonate an IED at a rally scheduled to take place in Long Beach this past weekend. As part of the plot, Domingo asked his confederate – who actually was cooperating with the FBI as part of the investigation – to find a bomb-maker, and Domingo last week purchased several hundred nails to be used as shrapnel inside the IED.

“Domingo said he specifically bought three-inch nails because they would be long enough to penetrate the human body and puncture internal organs,” the affidavit states.

After Domingo provided the nails to the undercover operative for use in the construction of the bomb, Domingo sent a message on Thursday indicating that the operation was to proceed, according to the affidavit.  On Friday evening, the undercover operative delivered multiple inert devices, which Domingo believed were weapons of mass destruction.  After inspecting the devices and travelling to a park in Long Beach to surveil the location of the planned attack, Domingo was taken into custody.

According to the criminal complaint, Domingo posted an online video professing his Muslim faith on March 2, and the next day made another posting in which he said “America needs another vegas event” (referring to the October 2017 mass shooting in Las Vegas, Nevada) that would give “them a taste of the terror they gladly spread all over the world.”  Following an attack on a mosque in New Zealand on March 13, Domingo posted, “there mustbe retribution.”

In response to the postings, an FBI “confidential human source” (CHS) began an online conversation that resulted in a series of in-person meetings with Domingo.  During the first meeting, on March 18, “Domingo discussed with the CHS different targets for an attack, including Jews, police officers, churches, and a military facility,” according to the affidavit.

During subsequent meetings outlined in the affidavit, Domingo continued to express his desire to commit a terrorist act, at points contemplating a drive-by shooting with a modified AK-47-style rifle he owned, and at other points considering the use of an IED.  During an April 3 meeting, Domingo allegedly expressed support for ISIS and said “if ISIS ‘came here,’ he would swear allegiance to ISIS,” according to the complaint.

The plan to target the rally came into shape during an April 19 meeting, when Domingo arrived to a meeting with the CHS armed with an AK-47-style rifle “to show you that I’m serious,” according to the complaint.  During that meeting, Domingo referenced the Boston Marathon bombing and asked the CHS to find a person to construct an IED that he said could cause 50 casualties….

According to ABC-7 (Carlos Granda & Rob Hayes),

“At times, Mr. Domingo said he wanted to kill Jews as they walked to synagogue. At other times, he said he wanted to kill and target police officers, attack a military facility or attack crowds at the Santa Monica Pier.”

The Pier is less than four miles from our house, and we used to go there often with our boys. Cuts close to home ….

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Unusual Conspiracy Theories Erupt After Fort Bragg Fake Cyber Attack Drill

Fort Bragg in North Carolina conducted a cyber-attack military exercise last week that simulated how personnel would respond to an attack that paralyzed the base’s power supply. Fort Bragg officials issued an apology late Thursday, after realizing the unannounced drill sparked fear on the post and created unusual conspiracy theories in the surrounding community, reported The Charlotte Observer.

Some conspiracy theories said it was a terrorist attack… or a secret Army research project involving electromagnetic pulse weapons.

The electricity at the world’s largest military base, home to 50,000 active duty personnel, was intentionally turned off by base officials around 10:30 PM Wednseday as part of an exercise “to identify shortcomings in our infrastructure, operations and security” in a rolling blackout.

“This exercise was not announced in order to replicate likely real-world reactions by everyone directly associated with the installation. In today’s world, cyber-attacks are very likely. This exercise is exactly what we needed to do to identify our vulnerabilities and work to improve our security and deployment posture,” the fort’s Facebook page explained.

By Thursday afternoon (just as the power was restored), the fort’s Facebook page published a Dr. Evil meme that stated: “Don’t Worry It’s Just A..”MILITARY EXERCISE.”” So within the 12-hour time period of no electricity, base officials neglected to brief base personnel or the surrounding community about the drill, which allowed conspiracy theories to run wild.

“Good afternoon all! We understand the exercise conducted caused concern for many within our community and surrounding areas…for that, we apologize. However…we had to identify ways to keep #FortBragg mission capable,” said a statement posted late Thursday on the Fort Bragg Facebook page.

“Department of Defense requires military installations to conduct readiness exercises on an annual basis. The intent is to determine the readiness and resiliency of the installation in a real-world scenario. With that said, our objectives have been met and as many of you know, everything is back to normal.”

Residents of the base wrote on Facebook that their power was out for six to twelve hours. Base officials said operations returned to 100% around 4 PM Thursday.

Among the oddest conspiracy theories that circulated on social media, someone thought a Stargate space portal was opened, causing it to drain the base’s energy.

“So is it true the power outage was Fort Bragg attempting to dial the 2nd Stargate?” asked someone named Bet JL. “I’m not buying this whole it was a training exercise thing.”

Others were angry, claiming base officials “endangered the people you are supposed to protect.”

“Does DOD standards recommend killing power to civilian housing?” asked Andrew Diaz in the fort’s Facebook page. “How many people on CPAP machines could have suffocated because you targeted an area normally off limits for that very reason. How many carbon monoxide and fire detection systems were knocked offline?”

“What about all the spoiled food?” asked Breanna Lynn Copfer, who says her power was out for more than 10 hours. “Renters insurance is saying Fort Bragg is responsible for reimbursement since it was a planned outage? We literally bought groceries yesterday.”

“I know (someone who) was hooked up to a CPAP and woke up gasping for air,” wrote Ryan DeRocker. “He could have died because of the ignorance and poor planning with this exercise. You guys messed up big time.”

For base officials to conduct an unannounced exercise and understand the potential blowback would be severe, suggests they’re preparing for imminent threats. 

via ZeroHedge News http://bit.ly/2GIixMO Tyler Durden

Planned Lone-Wolf (?) Jihadist Attack in L.A. Thwarted

From the Justice Department:

Mark Steven Domingo, 26, of Reseda, California, [a former U.S. Army infantryman with combat experience in Afghanistan,] was arrested Friday night after he received what he thought was a live bomb, but in fact was an inert explosive device that was delivered by an undercover law enforcement officer as part of an investigation by the FBI’s Joint Terrorism Task Force….

In a criminal complaint filed by federal prosecutors on April 27, 2019, and unsealed earlier today, Domingo was charged with providing and attempting to provide material support to terrorists. … According to a 30-page affidavit in support of the complaint, since early March, Domingo “planned and took steps to manufacture and use a weapon of mass destruction in order to commit mass murder.”

In online posts and in conversations with an FBI source, Domingo expressed support for violent jihad, a desire to seek retribution for attacks against Muslims, and a willingness to become a martyr, according to the affidavit.  After considering various attacks – including targeting Jews, churches, and police officers – Domingo decided to detonate an IED at a rally scheduled to take place in Long Beach this past weekend. As part of the plot, Domingo asked his confederate – who actually was cooperating with the FBI as part of the investigation – to find a bomb-maker, and Domingo last week purchased several hundred nails to be used as shrapnel inside the IED.

“Domingo said he specifically bought three-inch nails because they would be long enough to penetrate the human body and puncture internal organs,” the affidavit states.

After Domingo provided the nails to the undercover operative for use in the construction of the bomb, Domingo sent a message on Thursday indicating that the operation was to proceed, according to the affidavit.  On Friday evening, the undercover operative delivered multiple inert devices, which Domingo believed were weapons of mass destruction.  After inspecting the devices and travelling to a park in Long Beach to surveil the location of the planned attack, Domingo was taken into custody.

According to the criminal complaint, Domingo posted an online video professing his Muslim faith on March 2, and the next day made another posting in which he said “America needs another vegas event” (referring to the October 2017 mass shooting in Las Vegas, Nevada) that would give “them a taste of the terror they gladly spread all over the world.”  Following an attack on a mosque in New Zealand on March 13, Domingo posted, “there mustbe retribution.”

In response to the postings, an FBI “confidential human source” (CHS) began an online conversation that resulted in a series of in-person meetings with Domingo.  During the first meeting, on March 18, “Domingo discussed with the CHS different targets for an attack, including Jews, police officers, churches, and a military facility,” according to the affidavit.

During subsequent meetings outlined in the affidavit, Domingo continued to express his desire to commit a terrorist act, at points contemplating a drive-by shooting with a modified AK-47-style rifle he owned, and at other points considering the use of an IED.  During an April 3 meeting, Domingo allegedly expressed support for ISIS and said “if ISIS ‘came here,’ he would swear allegiance to ISIS,” according to the complaint.

The plan to target the rally came into shape during an April 19 meeting, when Domingo arrived to a meeting with the CHS armed with an AK-47-style rifle “to show you that I’m serious,” according to the complaint.  During that meeting, Domingo referenced the Boston Marathon bombing and asked the CHS to find a person to construct an IED that he said could cause 50 casualties….

According to ABC-7 (Carlos Granda & Rob Hayes),

“At times, Mr. Domingo said he wanted to kill Jews as they walked to synagogue. At other times, he said he wanted to kill and target police officers, attack a military facility or attack crowds at the Santa Monica Pier.”

The Pier is less than four miles from our house, and we used to go there often with our boys. Cuts close to home ….

from Latest – Reason.com http://bit.ly/2GRFRJd
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NASA Prepares For “Asteroid Apocalypse” With “Planetary Defense” Simulation

Authored by Mac Slavo via SHTFplan.com,

NASA is going to be using a simulation of an “asteroid apocalypse” in order to help the space agency prepare for the cataclysmic event. And they are taking it seriously, as disaster planners from FEMA will join NASA for a dress rehearsal of doomsday.

International partners, including the European Space Agency (ESA), will also be a part of the simulation. The drill is said to be a  “tabletop exercise” that will simulate just how a planetary asteroid emergency would play out in real time. Although an emergency on this scale has never happened, and factors such as the location of impact will have a massive effect on the response to such a globally catastrophic event.

According to the Metro UK, disaster planners from Federal Emergency Management Agency (FEMA) will join with NASA to hold a “make-believe apocalypse” intended to “inform involved players of important aspects of a possible disaster and identify issues for accomplishing a successful response.” The scenario will begin with the fictional premise that on March 26, astronomers “discovered” a near-Earth object (a comet or asteroid which comes within 30 million miles of Earth and one they consider potentially hazardous to Earth), NASA wrote.

At first, scientists said there is only a one in 50,000 chance this thing will hit us. Within weeks, those odds become one in 100, reported Science Alert. There are bits of good news and bad news about this approaching object, dubbed 2019 PDC. The good news is 2019 PDC doesn’t exist at all. It’s a completely fictional, imaginary apocalypse. The chance of impact, in actuality, is zero. But it makes for a good simulation and practice for an asteroid apocalypse.

Participants (NASA and FEMA) in this exercise will discuss potential preparations for asteroid reconnaissance and deflection missions and planning for mitigation of a potential impact’s effects.

NASA’s been running these simulations for years, and with good reason: Earth, as it happens, is in the midst of an epic asteroid surge compared to the relative peace and quiet the planet experienced many millions of years ago.

When unexpected space rocks do appear on our scopes, sometimes we only get hours’ notice of their existence before they streak past. While the chances of a catastrophic impact are exceedingly slim, we’re nonetheless unprepared for surprise asteroid strikes, which is why NASA is continually working on plans to help improve our NEO detection and mitigation capabilities. –Science Alert

“The first step in protecting our planet is knowing what’s out there,” says the ESA’s Head of Planetary Defence, Rüdiger Jehn. “Only then, with enough warning, can we take the steps needed to prevent an asteroid strike altogether, or to minimize the damage it does on the ground.”

via ZeroHedge News http://bit.ly/2GUHcix Tyler Durden

Help Wanted: Saudi Arabia Is Running Out Of Executioners

Saudi Arabia is preparing to decapitate so many people in 2019 that the kingdom is looking to hire eight more executioners, who will be tasked with publicly lopping off convict’s heads with a giant, curved sword, according to the Sun.

Human rights groups are still outraged about the execution of 37 people in a single day last week, some of whom were murdered in extremely brutal ways (the head of one victim was impaled on a spike, while another’s headless body was crucified). One of the men who was executed, a member of the Shiite minority, was just 16 when he was arrested. He was killed on charges of ‘terrorism’ over messages he sent about a peaceful anti-government demonstration.

Sword

The Kingdom is on track to set a new record this year, as more than 170 people are set to be put to death in 2019, up from 150 last year. The country has carried out some 600 executions since 2014. Already, the kingdom has executed about 100 people this year.

According to a job posting on Saudi’s civil service website, executioners will be tasked with carrying out the beheadings, but they must also be prepared to cut off extremities like hands, a common punishment for more minor offenses.

Saudi Arabia has one of the highest execution rates in the world: suspects can be put to death after being convicted of terrorism, homicide, rape, armed robbery and drug trafficking. Executioners use a sword known as a sulthan to remove the condemned man’s head from his neck. Public executions typically take place around 9 am, after the convict is led into a public square. Crowds often cheer as the man is killed.

To be sure, not all of the people executed on terrorism charges were convicted of minor offenses; the man who had his head impaled on a spike was said to be a jihadist whom the kingdom made an example. Though 11 of the men had been convicted of spying for Iran during trials that amnesty groups described as ‘grossly unfair.’ Another 14 were killed over their participation in anti government demonstrations in Shiite areas.

Last week’s killings were carried out in Riyadh, the Muslim holy cities of Mecca and Medina, central Qassim province and Eastern Province, home to the country’s Shiite minority, according to the government.

via ZeroHedge News http://bit.ly/2PDOSIq Tyler Durden

What’s new in blockchain regulation

In Episode 261, blockchain takes over the podcast again. We dive right into the recent activity from the SEC, namely, the Framework for “Investment Contract” Analysis of Digital Assets and the No-Action Letter issued to TurnKey Jet, Inc. (TurnKey) for a digital token. Gary Goldsholle noted this guidance has been eagerly anticipated since July 2017 when the SEC first applied the Howey Test to a digital token with the DAO report. The current framework focuses primarily on the reasonable expectation of profits and efforts of others prongs of the Howey Test. While the framework lays out a number of factors to consider when determining whether a token is a security, the practicality of those factors is still up for debate.

Will Turner explained that the TurnKey No-Action Letter was most useful for parties interested in structuring a private, permissioned, centralized blockchain, but believes the guidance in the Framework would allow for alternative structures. The key from the SEC’s perspective is that there is no expectation of profits for token holders, since the token is a stablecoin pegged to the value of USD and there is no use of the token outside of TurnKey’s network. Jeff Bandman noted the irony that the first No-Action Letter related to blockchain and cryptocurrency involves private jets, particularly since “Mr. and Ms. 401(k)“—the retail investors SEC Chairman Jay Clayton is focused on protecting—are not likely to become private jet users anytime soon.

Jeff emphasized the importance of network functionality and observed that the network for private jet use was already established. Alan Cohn highlighted this tension between the need for centralization to achieve functionality, and need for decentralization as a means to avoid meeting the “derived from the efforts of others” prong of the Howey Test.

Gary then turned to Blockstack’s Regulation A filing, the most comprehensive effort to register a token under Reg. A that we have seen to date. Blockstack is seeking to be a Tier 2 issuer, meaning they can raise up to $50 million in 12 months, which comes with heightened disclosure obligations and requires audited financials. While they seek to raise capital as a security today, their ultimate goal – and a central risk factor in their offering circular – is to achieve the requisite level of decentralization such that they no longer would meet the definition of a security.

Meanwhile, in Congress, the recently reintroduced Token Taxonomy Act of 2019 would exempt a newly defined category of digital tokens from the definition of a security, as well as provide some clarity on tax issues for cryptocurrency users and exchanges. Jeff observed that these amendments might contribute further to a gap in federal regulation over spot trading markets. While the CFTC has enforcement authority, they do not have the authority to directly supervise the bitcoin trading market.

Turning to the interview, Jeff describes how he co-founded Global Digital Finance (GDF), along with other co-founders in Europe, Asia, and the United States, in order to address the lack of international standards surrounding the blockchain industry – or even a general consensus of terminology. Jeff describes how GDF has a number of working groups focused on developing high-level principles and standards on a range of topics, including stablecoins, custody, tax, and security tokens. GDF is trying to fill in some of the gaps that appear when jurisdictions regulate cryptocurrencies and crypto-assets differently.  As an example of its work, GDF’s KYC/AML/CTF group recently commented on FATF’s standards, issuing two comments in October 2018 and April 2019.

Jeff is also in the process of launching a new transfer agent service, Block Agent, focused on enabling and supporting SEC-regulated issuances. As markets mature, it is increasingly important to have the necessary post-trade infrastructure, and he is committed to offering services that recognize the novel features and efficiencies around these new technologies.

For our listeners in the DC area, Steptoe is hosting a half-day complimentary regulatory symposium this Thursday, May 2, in our DC office. Our plenary speakers include current and former commissioners and high-level officials with agencies such as the Federal Energy Regulatory Commission, the Surface Transportation Board, and the Environmental Protection Agency. We will also have breakout panels focused on four separate topics: Deference, Globalization, Regulatory/Legislative Approach, and Preemption. To register, click here.

Download the 261st Episode (mp3).

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As always, The Cyberlaw Podcast is open to feedback. Be sure to engage with @stewartbaker on Twitter. Send your questions, comments, and suggestions for topics or interviewees to CyberlawPodcast@steptoe.com. Remember: If your suggested guest appears on the show, we will send you a highly coveted Cyberlaw Podcast mug!

The views expressed in this podcast are those of the speakers and do not reflect the opinions of the firm.

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The Slow Death Of Californian Oil & Gas

Authored by Vanand Meliksetian via Oilprice.com,

Entrepreneurs in California were pioneers of the American oil industry in the 19th and the beginning of the 20th century. One of the oldest still producing oil fields in the U.S. is located in the Golden State in which in 1901 the Midway-Sunset field was discovered.

California was one of the pillars of American energy security. That, however, has changed due to declining production. Since its peak in 1985, production has plunged almost 60 percent to 460,000 barrels per day. Next to this, the Golden State’s oil reserves have declined 25 percent to 2.2 billion barrels. This reversal doesn’t only impact the state’s economic situation, but also its position towards foreign producers who are increasingly required to supply the necessary oil.

California’s demise as an essential producer of hydrocarbons is especially staggering due to the transformation of the American fossil fuel industry. The shale revolution has propelled the North American country into becoming one of the world’s largest producers of fossil fuels. U.S. crude oil production has soared to record heights, rising 140 percent in a couple of years to 12.1 million bpd. North Dakota has become the second oil producing state in the U.S. due to the shale revolution. Fracking technology has unlocked previously unreachable resources which have doubled U.S. oil reserves to 45 billion barrels. 

Image courtesy: Jude Clemente, Rigzone.com

Ironically, California is the second biggest consumer of oil in the U.S. after Texas. Approximately, 40 million gallons of gasoline, 8 million gallons of diesel, and 20 percent of the country’s jet fuel are consumed in the Golden State each day. Notably after Alaska’s production decreased significantly over the years, California has become more dependent on Middle Eastern oil due to stringent environmental rules. The Low Carbon Fuel Standard (LCFS) has hampered the prospect of using heavier crude which is produced locally and in Canada. Instead, lighter oil that is supplied by OPEC’s member states, for example, makes up for 37 percent of California’s oil imports.

The state’s predominantly Democratic electorate and leadership generally opposes pipelines that could pump high-quality, lower cost shale oil from other U.S. states. California does hold some promising shale formations in its central and southern parts which could hold at least 20 billion barrels of recoverable oil and gas. Current Governor Gavin Newsom, however, is not supportive of the shale industry. According to a study by the Price School of Public Policy at the University of Southern California, fracking could add millions of jobs and tens of billions in tax revenues. California, however, has chosen a different path when it comes to energy policy.

Despite President Trump’s unilateral withdrawal from the Paris Climate Agreement, the Golden State has declared its commitment to combatting climate change. California’s geography is highly favorable for wind and solar energy production. In addition, the state has set itself the goal of having at least 5 million electric vehicles on the roads by 2030. Although this sounds impressive, it adds up to only 15 percent of the entire car fleet which means that the majority of vehicles would still be running on fossil fuels.

Despite the energy transition, natural gas is still the most important source in the energy mix in the Golden State. In the short term, California could be even worse of when it comes to gas due to declining regional production and reluctance to allow fracking. Already, 95 percent of the consumed gas is imported while neighboring states are increasing their share of natural gas in the energy mix due to environmental and cost-efficiency reasons. Growing competition could lead to an undersupplied market and relative scarcity which increases costs and dependency on foreign suppliers. Fortunately, that doesn’t seem to be the case anytime soon due to the massive influx of fracked natural gas which has lowered energy prices significantly in the U.S.

However, ‘continued decline’ instead of ‘collapse’ are more appropriate words to describe the Californian oil and gas industry. The state’s energy outlook isn’t promising due to the decreasing local production and continued dependence on foreign suppliers which could affect the state’s economic and strategic position without a significant impact on the environment.

via ZeroHedge News http://bit.ly/2UNFeEd Tyler Durden