“Cash is not a very convenient store of value.” – Janet Yellen (What?!)

Well this is pretty interesting. I think most of us who are paying attention have lost a lot of faith in cash over the past few years, but it sure is something when the head of the Federal Reserve admits on camera that the dollar isn’t a “convenient” store of value.

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Washington is coming for your personal data (And it’s not just the NSA)

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Of course it is.

Please please please tell me how the below action is constitutional.

We are citizens. The government needs probable cause and then a warrant to go through our stuff and even then it is to be limited. That is the LAW. Yet law enforcement wants this cyber dragnet.

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Some people just want to be ruled, and some just don’t

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The truth is some (many) people just want someone to make decisions for them. I am unsure if it is a genetic disposition or whether it is socialization or whether it is both. All I know is some people do not want to control their own lives. They are more comfortable with someone at the helm. They are comforted by a horizon which is limited and defined by others.

Strangely these same people also want to limit the lives of those who prefer to be free.

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Another Oligarch Preaches to the Peasants – Charlie Munger Says “Prepare for Harder World”

I’m not a fan of Charlie Munger, Warren Buffett’s right hand man. I haven’t been a fan for a long time but this statement back in 2012 really annoyed me.

Such arrogance. I’m sorry Mr. Munger but not all of us get to drink from the Fed’s fire hose of easy money. For many of us gold is a last resort. Not an investment per se, but a hedge against guys like you. Of course you know that and that’s why you said what you said.

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Politico: 2016 brawl breaks out on Senate floor (Rand versus Rubio, Cruz, and ahem, Graham(?))

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Yeah, Senator Graham somehow inserted himself into this story.

This has been one weird day in the Senate and this is the 3rd post we’ve done today on Rand Paul and his military funding proposal.

Though we have said that we were not pleased with Rand Paul’s amendment, at least it called for cuts (if future cuts) to other spending. Rubio just wanted to spend money on defense whatever the cost to taxpayers and future generations. Cruz sided with Rubio. But in the end neither Rand’s or Rubio’s proposals got past the Senate floor.

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DEA agents held ‘sex parties’ with prostitutes paid for by drug cartels

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Columbia it appears is the place to be if one wants to party hardcore on the US taxpayer dime. Forget Cancun kids. Medellin is where things are really going down.

Hey, when in Columbia…But one shouldn’t be doing it with taxpayer money. Oh, wait, in the case of the DEA parties it was the drug cartels who paid for everything. So I guess that’s cool.

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Is the stock market really “rigged?”

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I remember sitting in my car in college listening to Howard Stern on the radio before class sometime in 2000. Howard and his crew were talking about the stock market which was roaring. The Tech Bubble was in full effect. The sky was the limit. If you weren’t in the market you were losing out. It was a similar vibe to the Housing Bubble which would emerge only a few years later.

Stern took a call from a listener.

The caller, who sounded like he might have been on the tail end of a serious bender explained in candid terms that he was affiliated with some unsavory characters and that he and his unsavory friends were manipulating the market up. He said there was little under the prices of many of the stocks which were rising at breakneck speed.

In a few months we would see how right that caller was.

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