Wasn’t The EU Crisis Solved?

The markets continue to operate based on total delusion regarding to Europe.

 

We’ve been told dozens of times that the EU Crisis was solved in 2012. This is the theme that has been pounded out first by the political elite and then by the mainstream media month after month after month.

 

Unfortunately, all of them were either ignorant or liars. Neither should make investors confident in their ability to protect their capital.

 

Yesterday’s market wipeout was blamed on the troubled of a Portuguese bank. It’s rather striking that the bank’s problems first became apparent TWO MONTHS AGO. Where was the media on that one? Where were the warnings?

 

We’ve been through this mess multiple times in the last three years. The most notable cases involved Spain and Cyprus. And the formula is as follows:

 

1)   A problem first emerges.

2)   Various political and financial officials state that the problem is contained and there’s nothing to worry about.

3)   Months later, the market and mainstream media catch on… usually when the problem is already a massive crisis and a bank holiday needs to be declared.

4)   Individual investors lose a LOT of money while the same folks who cause the problem A) are not fired, fined or jailed B) never come clean about the full scope of the problem and C) claim that they can solve the problem and have all the answers.

 

Consider the story of Bankia in Spain.

 

Bankia was formed by merging seven bankrupt regional Spanish banks in 2010.

 

The new bank was funded by Spain’s Government rescue fund… which received “preference shares” in return for over €4 billion in funding for the bank (all provided by taxpayers of course).

 

These preference shares were shares that A) yielded 7.75% and B) would get paid before ordinary investors if Bankia failed again. So right away, the Spanish Government was taking taxpayer money to give itself preferential treatment over ordinary investors (including said taxpayers).

 

Indeed, those investors who owned shares in the seven banks that merged to form Bankia lost their shirts. They were wiped out and lost everything when the new bank was created.

 

Bankia was taken public in 2011. Spanish investment bankers convinced the Spanish public that the bank was a fantastic investment. Over 98% of the shares were sold to Spanish investors.

 

One year later, Bankia was bankrupt again, and required the single largest bailout in Spain’s history: €19 billion. Spain took over the bank (again) and Bankia shares were frozen on the market (meaning you couldn’t sell them if you wanted to).

 

When the bailout took place, Bankia shareholders were all but wiped out and forced to take huge losses as part of the deal. The vast majority of these were individual investors, NOT Wall Street or its European equivalent (Bankia currently faces a lawsuit for over 140,000 claims of mis-selling shares).

 

So that’s two wipeouts in as many years.

 

The bank was taken public a second time in May 2013. Once again Bankia shares promptly collapsed, losing 80% of their value in a matter of days. And once again, it was ordinary investors who got destroyed.

 

Indeed, things were so awful that a police officer stabbed a Bankia banker who sold him over €300,000 worth of shares (the banker had convinced him it was a great investment).

 

Bankia is hardly an isolated incident. Consider what happened in Cyprus with the Bank of Cyprus.

 

Here’s the timeline:

 

·      June 25, 2012: Cyprus formally requests a bailout from the EU.

·      November 24, 2012: Cyprus announces it has reached an agreement with the EU the bailout process once Cyprus banks are examined by EU officials (ballpark estimate of capital needed is €17.5 billion).

·      February 25, 2013: Democratic Rally candidate Nicos Anastasiades wins Cypriot election defeating his opponent, an anti-austerity Communist.

 

The initial stage of this took over six months to develop. But once things got hairy, the seizure took place over the course of ONE WEEKEND.

 

·      March 16 2013: Cyprus announces the terms of its bail-in: a 6.75% confiscation of accounts under €100,000 and 9.9% for accounts larger than €100,000… a bank holiday is announced.

·      March 17 2013: emergency session of Parliament to vote on bailout/bail-in is postponed.

·      March 18 2013: Bank holiday extended until March 21 2013.

·      March 19 2013: Cyprus parliament rejects bail-in bill.

·      March 20 2013: Bank holiday extended until March 26 2013.

·      March 24 2013: Cash limits of €100 in withdrawals begin for largest banks in Cyprus.

·      March 25 2013: Bail-in deal agreed upon. Those depositors with over €100,000 either lose 40% of their money (Bank of Cyprus) or lose 60% (Laiki).

 

Now get ready for the real kicker… the Bank of Cyprus, the bank that imploded in 2013 and STOLE clients’ funds was voted Best Bank for Private Banking in Cyprus by EUROMONEY magazine in 2012.

 

No joke…

 

Bank of Cyprus has been named as the Best Bank for Private Banking in Cyprus, by the internationally acclaimed magazine EUROMONEY

 

Bank of Cyprus Private Banking ranked first among Cypriot, Greek and other international financial institutions operating in Cyprus in the Private Banking sector. This accolade classifies the Bank among the leading financial institutions offering Private Banking services and is yet another important international distinction for the Bank of Cyprus Group…

 

This recognition by EUROMONEY is ever more important in today’s macroeconomic environment as it reaffirms the Bank’s ability to safely and successfully respond to its clients’ financial needs and emphasizes its clients’ loyalty and trust.

 

http://ift.tt/10vGY1q

 

So… just WHO actually has a CLUE about the true state of the banks in Europe? More importantly, who will actually bother WARNING investors about the risks therein?

 

As Jean-Claude Juncker openly stated, "When it becomes serious, you have to lie."

 

Now we’re going through another round of this game with Portuguese bank Banco De Espirito Santo. We wonder what will happen…

 

This concludes this article. If you’re looking for the means of protecting your portfolio from the coming collapse, you can pick up a FREE investment report titled Protect Your Portfolio at http://ift.tt/170oFLH

 

This report outlines a number of strategies you can implement to prepare yourself and your loved ones from the coming market carnage.

 

Best Regards

 

Phoenix Capital Research

 

 

 

 

 

The markets continue to operate based on total delusion regarding to Europe.

 

We’ve been told dozens of times that the EU Crisis was solved in 2012. This is the theme that has been pounded out first by the political elite and then by the mainstream media month after month after month.

 

Unfortunately, all of them were either ignorant or liars. Neither should make investors confident in their ability to protect their capital.

 

Yesterday’s market wipeout was blamed on the troubled of a Portuguese bank. It’s rather striking that the bank’s problems first became apparent TWO MONTHS AGO. Where was the media on that one? Where were the warnings?

 

We’ve been through this mess multiple times in the last three years. The most notable cases involved Spain and Cyprus. And the formula is as follows:

 

1)   A problem first emerges.

2)   Various political and financial officials state that the problem is contained and there’s nothing to worry about.

3)   Months later, the market and mainstream media catch on… usually when the problem is already a massive crisis and a bank holiday needs to be declared.

4)   Individual investors lose a LOT of money while the same folks who cause the problem A) are not fired, fined or jailed B) never come clean about the full scope of the problem and C) claim that they can solve the problem and have all the answers.

 

Consider the story of Bankia in Spain.

 

Bankia was formed by merging seven bankrupt regional Spanish banks in 2010.

 

The new bank was funded by Spain’s Government rescue fund… which received “preference shares” in return for over €4 billion in funding for the bank (all provided by taxpayers of course).

 

These preference shares were shares that A) yielded 7.75% and B) would get paid before ordinary investors if Bankia failed again. So right away, the Spanish Government was taking taxpayer money to give itself preferential treatment over ordinary investors (including said taxpayers).

 

Indeed, those investors who owned shares in the seven banks that merged to form Bankia lost their shirts. They were wiped out and lost everything when the new bank was created.

 

Bankia was taken public in 2011. Spanish investment bankers convinced the Spanish public that the bank was a fantastic investment. Over 98% of the shares were sold to Spanish investors.

 

One year later, Bankia was bankrupt again, and required the single largest bailout in Spain’s history: €19 billion. Spain took over the bank (again) and Bankia shares were frozen on the market (meaning you couldn’t sell them if you wanted to).

 

When the bailout took place, Bankia shareholders were all but wiped out and forced to take huge losses as part of the deal. The vast majority of these were individual investors, NOT Wall Street or its European equivalent (Bankia currently faces a lawsuit for over 140,000 claims of mis-selling shares).

 

So that’s two wipeouts in as many years.

 

The bank was taken public a second time in May 2013. Once again Bankia shares promptly collapsed, losing 80% of their value in a matter of days. And once again, it was ordinary investors who got destroyed.

 

Indeed, things were so awful that a police officer stabbed a Bankia banker who sold him over €300,000 worth of shares (the banker had convinced him it was a great investment).

 

Bankia is hardly an isolated incident. Consider what happened in Cyprus with the Bank of Cyprus.

 

Here’s the timeline:

 

·      June 25, 2012: Cyprus formally requests a bailout from the EU.

·      November 24, 2012: Cyprus announces it has reached an agreement with the EU the bailout process once Cyprus banks are examined by EU officials (ballpark estimate of capital needed is €17.5 billion).

·      February 25, 2013: Democratic Rally candidate Nicos Anastasiades wins Cypriot election defeating his opponent, an anti-austerity Communist.

 

The initial stage of this took over six months to develop. But once things got hairy, the seizure took place over the course of ONE WEEKEND.

 

·      March 16 2013: Cyprus announces the terms of its bail-in: a 6.75% confiscation of accounts under €100,000 and 9.9% for accounts larger than €100,000… a bank holiday is announced.

·      March 17 2013: emergency session of Parliament to vote on bailout/bail-in is postponed.

·      March 18 2013: Bank holiday extended until March 21 2013.

·      March 19 2013: Cyprus parliament rejects bail-in bill.

·      March 20 2013: Bank holiday extended until March 26 2013.

·      March 24 2013: Cash limits of €100 in withdrawals begin for largest banks in Cyprus.

·      March 25 2013: Bail-in deal agreed upon. Those depositors with over €100,000 either lose 40% of their money (Bank of Cyprus) or lose 60% (Laiki).

 

Now get ready for the real kicker… the Bank of Cyprus, the bank that imploded in 2013 and STOLE clients’ funds was voted Best Bank for Private Banking in Cyprus by EUROMONEY magazine in 2012.

 

No joke…

 

Bank of Cyprus has been named as the Best Bank for Private Banking in Cyprus, by the internationally acclaimed magazine EUROMONEY

 

Bank of Cyprus Private Banking ranked first among Cypriot, Greek and other international financial institutions operating in Cyprus in the Private Banking sector. This accolade classifies the Bank among the leading financial institutions offering Private Banking services and is yet another important international distinction for the Bank of Cyprus Group…

 

This recognition by EUROMONEY is ever more important in today’s macroeconomic environment as it reaffirms the Bank’s ability to safely and successfully respond to its clients’ financial needs and emphasizes its clients’ loyalty and trust.

 

http://ift.tt/10vGY1q

 

So… just WHO actually has a CLUE about the true state of the banks in Europe? More importantly, who will actually bother WARNING investors about the risks therein?

 

As Jean-Claude Juncker openly stated, "When it becomes serious, you have to lie."

 

Now we’re going through another round of this game with Portuguese bank Banco De Espirito Santo. We wonder what will happen…

 

This concludes this article. If you’re looking for the means of protecting your portfolio from the coming collapse, you can pick up a FREE investment report titled Protect Your Portfolio at http://ift.tt/170oFLH

 

This report outlines a number of strategies you can implement to prepare yourself and your loved ones from the coming market carnage.

 

Best Regards

 

Phoenix Capital Research

 

 

 

 

 

 




via Zero Hedge http://ift.tt/1jyeAfb Phoenix Capital Research

Mom Charged for Letting Her Daughter, 11, Wait in Car

CryingA mother in Bristol,
Connecticut, was charged
with leaving a child unsupervised
 in a car Wednesday.
How old was the helpless tyke?

Eleven.

Why was she in the car? She asked her mom if she
could stay there.

Was she in danger of boiling to death? According to
WFSB:

When officers opened the car doors, they said the child
was responsive and not in distress, and that the car was not
“excessively hot.”

In other words, the 11-year-old girl was indisputably fine. Not
overheated, not abandoned, not upset—nothing. 

So don’t just ask why the mom was charged with a crime, ask why
is this a crime? Why does the law get to decide how a
mom should raise her kids? Why does the law treat a self-sufficient
11 year old as a helpless forsaken baby? Why does the law allow
cops to harass tweens and moms just going about their
day? 

free-range-kidsThe answer: Our laws
leap to the very worst case scenario first—a child could die!—and
refuse to make any distinction between an infinitesimal risk and a
huge one. Everything is dangerous when it comes to kids. Even a
normal wait in a car.

The mom is scheduled to appear in court on July 21.

Meanwhile, another mom was just charged with a similar
crime. Read
about it here
. Among the interesting details in this
case: The mother had her sister-in-law watching the car and
the kids the entire (short!) time she ran the errand, and now
she’s terrified the state will take her children away.

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The World’s Two Most Expensive Cities For Expats Are Located On This Surprising Continent

America, Europe or Asia: those are the usual continental suspects which come to mind when asked where the world’s most expensive cities for expats are located. They are also incorrect.

According to the most recent study conducted by Mercer consultants not only the world’s most expensive city, but also the second most expensive place for foreigners to live at this moment, are located in the one continent which we predicted two years ago, would become a Chinese colonial feeding ground. Africa.

According to the FT, “the tight supply of international standard housing in Luanda has put the Angolan capital top of the list of the most expensive cities in the world, according to a survey by consultants Mercer of the costs of living abroad. It held the same position last year as the oil boom continues to suck in expats.The rush for hydrocarbons has similarly pushed N’Djamena, Chad’s largest city, up into second place as some of the cities more commonly associated with the high cost of living have dropped down the rankings.”

More:

Moscow has fallen from second to ninth, while Tokyo slips four places to seventh. In the absence of any large inflationary pressures, the biggest single reason for the realignment over the last year – Mercer compared the cost of a basket of items from housing to the a cup of coffee in February this year to the same month in 2013 – is exchange rates.

 

Most of the movements in the rankings this year have been driven by the movement of the local currency against the US dollar,” explains Kate Fitzpatrick, a consultant at Mercer.

 

The survey uses New York as its base city to compile the rankings and the relative strength of the US currency has had a big impact on the league table, she says.

Some examples: A cup of coffee in Moscow and Tokyo will still set you back more than $6, compared to just $1.81 inNew York, the 17 per cent jump in the value of the dollar against the Russian ruble and its 10 per cent rise against the yen, rather distorts the picture.

As for just renting, Hong Kong moved up to third in the rankings, from sixth last year, lifted by its high rental prices with a two bedroom international standard apartment costing $6,960 per month. Australia also looks more alluring given the fall of its currency against the greenback. Sydney has tumbled out of the world’s top 10, falling from ninth to 26th place in the rankings, while Melbourne slipped from the 16th spot all the way down to number 33.

It’s not all doom and gloom for expats. One can live cheaply in, for example, Pakistan:

The cheapest place for a company to send its staff remains Karachi ranked 211th, because of the very low cost of accommodation. Rent for a two bedroom unfurnished apartment of “international standards” in Pakistan’s largest city costs just $304 per month, compared to $6,600 in Luanda.

Somehow we doubt this “value trap” will have much of an impact on expat’s residency plans.




via Zero Hedge http://ift.tt/1m0Cb2E Tyler Durden

The “War on Meat” Will Make the “War on Coal” Look Tame.

NoMeatPut down that burger you
irresponsible carnivores! Why? Because munching steaks, burgers,
and chops significantly increases the carbon footprint of
meat-eaters and thus their contribution to man-made global warming.
So says a new study, “Dietary
greenhouse gas emissions of meat-eaters, fish-eaters, vegetarians
and vegans in the UK
,” in the journal Climatic Change.
By how much? The researchers conclude:

We have shown that dietary GHG emissions associated with
self-selected diets in the UK are strongly associated with the
amount of animal-based products in the diet. After adjustment for
sex and age, an average 2,000 kcal high meat diet had 2.5 times as
many GHG emissions than an average 2,000 kcal vegan diet…

Assuming that the average daily energy intake in the UK is 2,000
kcal, then moving from a high meat diet to a low meat diet would
reduce an individual’s carbon footprint by 920kgCO2e every year,
moving from a high meat diet to a vegetarian diet would reduce the
carbon footprint by 1,230kgCO2e/year, and moving from a high meat
diet to a vegan diet would reduce the carbon footprint by
1,560kgCO2e/year…

A family running a 10 year old small family car for 6,000 miles
has a carbon footprint of 2,440kgCO2e, roughly equivalent to the
annual carbon saving of two high meat eating adults moving to a
vegetarian diet…

Analysis of observed diets shows a positive relationship between
dietary GHG emissions and the amount of animal-based products in a
standard 2,000 kcal diet. This work demonstrates that reducing the
intake of meat and other animal based products can make a valuable
contribution to climate change mitigation. Other work has
demonstrated other environmental and health benefits of a reduced
meat diet. National governments that are considering an update of
dietary recommendations in order to define a ‘healthy, sustainable
diet’ must incorporate the recommendation to lower the consumption
of animal-based products.

Look for the EPA to launch its War on Meat shortly!

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The Price of Pot Peace Looks Pretty Cheap So Far

While state-licensed pot stores began selling
marijuana only this week in Washington, they have been open for
business in Colorado for six months. Possession and consumption of
marijuana have been legal in both states for 18 months. In my
latest Forbes column, I consider the consequences so
far. Here is how it starts:

In 2012 John Larson, a retired high school math and science
teacher, voted against I-502, the initiative that legalized
marijuana in Washington. Yet this week Larson was one of the
first government-licensed marijuana merchants to open a
store in that state: Main Street Marijuana in Vancouver. “If people
were dumb enough to vote it in, I’m all for it,”
he told The New York Times. “There’s a demand,
and I have a product.”

Colorado Gov. John Hickenlooper also seems to have had a change
of heart about marijuana. The former brewer, who opposed Amendment
64, his state’s legalization initiative, is not about to become a
budtender. But in a recent interview with Reuters,
Hickenlooper conceded that the consequences of letting people grow,
sell, and consume pot without fear of arrest have not been as bad
as he feared.

“It seems like the people that were smoking before are mainly
the people that are smoking now,” Hickenlooper said as Colorado
marked six months of legal recreational sales last week. “If that’s
the case, what that means is that we’re not going to have more
drugged driving, or driving while high. We’re not going to have
some of those problems. But we are going to have a system where
we’re actually regulating and taxing something, and keeping that
money in the state of Colorado…and we’re not supporting a corrupt
system of gangsters.” Hickenlooper sounds cautiously optimistic,
and there are good reasons for that. 


Read the whole thing.

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Miami-Dade Police Union Boss Tells Residents to Buy Guns for Protection If the Mayor Cuts Budget—They’re Both Good Ideas on Their Own

feeling safer yet punk?Wherever there’s a budget cut being
proposed or implemented somewhere in this country, there’s someone
who benefits personally from that spending ready to make any kind
of claim and engage in any kind of fearmongering that could
possibly keep his gravy train from getting derailed.

In Miami-Dade, Florida, the mayor has proposed cutting $64
million in police funding
in his latest budget
(PDF). The cut is projected to cost 250
police jobs, provided the union isn’t willing to compromise with
the government. It would involve disbanding units including
tactical narcotics, special response, and something called a “Sport
Unit.”

The union boss, naturally, is not interested in compromising
with the county government. Instead he’s warning residents of
lawlessness (and not from his cops).


Via WSVN in Miami:

John Rivera, president of the Miami-Dade Police Benevolent
Association, said, “If the mayor’s not going to provide security,
then my recommendation, as an experienced law enforcement officer
for nearly 40 years, is either buy yourself an attack dog, put bars
on your windows and doors and get yourself some firearms because
you’re going to have to protect yourselves. We won’t be able
to.”

Rivera inadvertently gave good advice whether or not the mayor
goes through with the cuts. The Supreme Court has ruled
previously
that police officers don’t have any specific
obligation or duty to protect any specific person. As seen by the
variety of specialized units under threat from the cuts, the police
in Miami-Dade appear to spend a lot of time doing the kind of
police work that doesn’t specifically relate to maintaining
anyone’s personal safety—things like narcotics unit actually have
the opposite effect.

A few years ago Michael Bloomberg suggested cops go on strike
until the gun control laws in this country become stricter, as if
police violence wasn’t a problem. Mike Riggs’ response
works here too
.

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Obamacare’s Unknowable Price Tag

This much we know: There is no way of figuring out whether (or
by how much) the Affordable Care Act is going to cost compared to
the estimates used to push the program through Congress.
Back in 2009
, it was really important to President Obama that
people understand he “not sign a plan that adds one dime to our
deficits—either now or in the future. Period.” He sold the plan as
costing about $938 billion in its first decade of operation.

Nowadays, the Congressional Budget Office (CBO), the agency
originally charged with tallying up Obamacare’s costs and revenues,
says there’s no way it can figure out how much the law will cost
compared to earlier estimates. There have been too many delays,
postponements, modifications, you name it, to the original bill.
“Isolating the incremental effects of those provisions on
previously existing programs and revenues four years after
enactment of the Affordable Care Act is not possible,”
the CBO concludes

Obamacare Estimate

Yet if past experience with massive government-run health care
programs is any indicator, the odds are high that Obamacare will
end up costing way more than it was supposed to. Here are
three examples to think about as the health care reform law gears
up for its second year of sign-ups (for more information,
go here
).

1. Massachusetts Commonwealth Care. This is the
plan supported by Gov. Mitt Romney that provided the very model for
Obamacare. It guaranteed universal coverage and subsidized
insurance premiums for low-income residents. Initial cost estimates
came in at $472 million while actual costs were closer to $628
million for an error ratio of 1.2:1.

Masscare Estimate 

2. Medicare. In 1967, Congress estimated that
the nation’s single-payer system for the elderly, Medicare, would
cost $12 billion in 1990. The actual price tag was $110 billion,
for an error ratio on 9.17:1.

Medicare Estimate

3. Medicaid DSH program. Medicaid pays for
health insurance for the poor (its expansion represents the main
way Obamacare in enrolling new beneficiaries). The
“disproportionate share hospital program” (DSH) gives money to
facilities that serve a large number of poor patients. In 1987,
Congress figured DSH payments would be less than $1 billion in
1991. Instead, they totaled $17 billion, creating an error ratio of
17:1.

Medicaid DSH Estimate

Read more about phony-baloney health care accounting
here
and
here
. And check out Reason‘s special collection of new
stories about “The Sad Story
of Obamacare
.”

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The Secret Language of Millennials (And Why Boomers and Gen Xers Just Don’t Understand)

Meet the new Generation
Gap, same as the old Generation Gap. Except this time, the baby
boomers are playing the role of angry, non-comprehending
parents:

Millennials use language differently than Boomers and Gen Xers
(born between 1965 and 1980). In the Reason-Rupe poll, about 62% of
Millennials call themselves liberal. By that, they
mean the favor gay marriage and pot legalization, but those views
hold little or no implication for their views on government
spending. To Millennials, being socially liberal is being liberal,
period. For most older Americans, calling yourself
liberal means you want to increase the size,
scope, and spending of the government (it may not even mean you
support legal pot and marriage equality). Despite the strong
liberal tilt among Millennials, 53% say they would support a
candidate who was socially liberal and fiscally conservative (are
you listening, major parties?).

There are other areas where language doesn’t track neatly with
Boomer and Gen X definitions. Millennials have no first-hand
memories of the Soviet Union or the Cold War. Forty-two percent say
they prefer socialism as a means of organizing society but only 16%
can define the term properly as government ownership of the means
of production. In fact, when asked whether they want an economy
managed by the free market or by the government, 64% want the
former and just 32% want the latter. Scratch a Millennial
“socialist” and you are likely to find a budding entrepreneur (55%
saying they want to start their own business someday). Although
they support a government-provided social safety net, two-thirds of
Millennials agree that “government is usually inefficient and
wasteful” and they are highly skeptical toward government with
regards to privacy and nanny-state regulations about e-cigarettes,
soda sizes, and the like.

That’s from latest column in Time, which draws off the
great Reason-Rupe Poll of Millennials that was released
yesterday.

Read the whole column
here
.

Read the Reason-Rupe Poll and polling director Emily Ekins’
analysis here.

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Let the Kids Stay: The Drive to Deport Unaccompanied Minors, Refugees of America’s Drug War, is Immoral

So let’s get this straight: Like a marauding elephant, America
sticks its trunk in Latin America, snorts out Border Kidsone-trillion in
military and other aid to stop the flow of drugs that Americans
want, gives a huge push to drug cartels in these countries who
unleash all kinds of unspeakable atrocities on innocent civilians,
and now, when these civilians desperately try and get their
children out of harm’s way by grasping at a Bush-era law that is
required to give them a hearing, nativists march on the street
blathering about America’s national sovereignty?

Where were they when their guvmint (which is about to authorize
nearly
$4 billion
in emergency funding to deport these kids
immediately) was violating the sovereignty of Honduras, El Salvador
and Guatemala — the three countries from where most of
the  unaccompanied minors are coming from?  These
countries enjoy the highest murder rate in the world, thanks, in
part, to our drug war.

 Yet nativists shamelessly march on the streets demanding
that these kids be “Returned to Sender.”

America is arguably experiencing its worst spasm of nativism
since the early 20th Century, I note in my Washington
Examiner column:

 Then, magazines such as Judge ran cartoons depicting a
Statue of Liberty with a Chinese face welcoming crime-prone and
diseased immigrants. Now, protesters in towns like Murrieta,
Calif., are turning away buses carrying these kids to shelters,
accusing them of being scabies-infected lawbreakers.

But just as the argument that blacks be kept in chains because
slavery was the law of the land lost, so will nativism. That’s
because it’ll run into the Huckleberry Finn Problem.

What is that? Go
here
to find out.

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DOJ Backs Off CIA/Senate Snooping Slap Fight

Who will watch the watchmen who watch the watchmen watching the watchmen?The Justice Department will not
be getting involved in the feud between the CIA and the Senate
Intelligence Committee over accusations that the CIA illegally
snooped on Senate staffers preparing a report on torture and
counter-accusations that the staffers illegally got their hands on
unreleased classified CIA documents during the process. The feud
was so bad that it actually caused security state worshipper Sen.
Dianne Feinstein (D-Calif.) to publicly declare that government
surveillance is a terrible thing and the Fourth Amendment
matters—when applied to the Senate, of course. From
McClatchy’s Washington bureau
:

“The department carefully reviewed the matters referred to us
and did not find sufficient evidence to warrant a criminal
investigation,” said Justice Department spokesman Peter Carr.

The news marks an apparent end to an extraordinary feud that
spilled into the public forum in early March over the committee’s
report on the agency’s post-9/11 enhanced interrogation program.
The dispute included competing Justice Department referrals, with
both the CIA and the Senate Intelligence Committee accusing the
other side of criminal conduct throughout the course of the
interrogation study.

I explained the
details of the fight
back in March. This Senate report
analyzing CIA interrogation methods during the Iraq war is known to
be very critical of the methods used by the CIA during the Bush
administration. Senate staffers were given access to CIA documents
through a special computer network at the CIA’s offices. CIA
employees, other than IT workers, were not supposed to have access
to the machines. During the preparation of the report, staffers
discovered documents disappearing out of the system, deleted by the
CIA. Later they discovered an internal CIA report (called the
Panetta Review) analyzing their interrogation methods. Feinstein
said the report validated her committee’s concerns about
interrogation methods.

Later the report disappeared from the computer system. The CIA
claims that Senate staff illegally gained access to the report
somehow, and it should not have been accessible to them. Feinstein
responded that it was the CIA that provided access to this report
in the first place and that it was a violation of the Fourth
Amendment for CIA to search Senate staff computers without a
warrant. The CIA, in turn, went to the Justice Department, accusing
Senate staffers of illegally removing classified information. But
the Justice Department apparently wants nothing to do with it.

The Senate’s
report on torture
still has not been released. The Senate
Intelligence Committee has voted to declassify parts of it, but the
CIA gets to review it first to determine whether any of the
information would threaten national security if made public.

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