Mr. Koskinen was not even in government when the I.R.S. admitted to singling out the tax-exemption applications of Tea Party groups for scrutiny. Organizations on the I.R.S.’s “lookout lists” went beyond conservative groups to include groups like Palestinian rights activists and open-software developers, but the scrutiny of hundreds of Tea Party applicants infuriated congressional Republicans.
Fear the U.S. Dollar Kill Switch (Tiffany D.)
The total stock of cash is known as M0. It includes the bills and coins in people’s pockets and mattresses, money stored in bank vaults and all bank deposits in the Federal Reserve System. There’s $1.45 trillion in M0 right now — $1.4 trillion in actual notes and coins, the rest in Fed deposits. Additionally, at any given time, between one-half and two-thirds of U.S. dollars in the M0 money stock are held overseas.
The rest of the U.S. money supply, called M1 and M2, resides in bank accounts of various types. M1 represents M0 plus all of the “virtual” money in checking and other transaction accounts. The current M1 money supply for U.S. dollars is about $3.2 trillion. M2 is M1 plus all of the “virtual” money on long-term deposit. It’s about $12.6 trillion.
The transcripts contain two extraordinary revelations that should lead all media outlets to seriously consider whether they should call what took place in Brazil a “coup”: a term Dilma and her supporters have used for months. When discussing the plot to remove Dilma as a means of ending the Car Wash investigation, Jucá said the Brazilian military is supporting the plot: “I am talking to the generals, the military commanders. They are fine with this, they said they will guarantee it.” He also said the military is “monitoring the Landless Workers Movement” (Movimento dos Trabalhadores Rurais Sem Terra, or MST), the social movement of rural workers that supports PT’s efforts of land reform and inequality reduction and has led the protests against impeachment.
By the late 1990s, the Buckley compromise had begun to fray. In a string of divided decisions, from 2000 through 2003, the Court deferred to legislative regulation of political contributions and spending. Though those decisions purported to follow Buckley, conservatives believed that they strayed far from Buckley’s rationale. The appointment of Chief Justice John Roberts and Justice Samuel Alito to the Court, however, flipped the majority. Since then, major cases striking down campaign-finance laws have included McCutcheon v. Federal Election Commission, holding aggregate caps on contributions to candidates unconstitutional; Arizona Free Enterprise Club v. Bennett, striking down government financing systems that award funds unequally based on private fundraising and outside spending; and finally Citizens United, which overruled Austin and struck down limits on corporate political spending.
The organization is designing biointensive garden beds for the grounds of the Paulo XII school. Such gardens, which use no chemical fertilizer, rely on raised aerated beds to achieve high crop yields from a minimal amount of land. The soil has greater drainage and aeration because of the beds’ design and their organic material. The roots grow deeper and reach more nutrients in the ground. Water is used efficiently, with less of it lost to evaporation.
The official answer is to limit money-laundering by drug traffickers and criminals. But laundering money through official banking channels is not that difficult, so cash is not necessary for laundering.
Another official reason is tax evasion. But tax evasion is now so easy, once again cash is not required: The World’s Favorite New Tax Haven Is the United States: Moving money out of the usual offshore secrecy havens and into the U.S. is a brisk new business.
What Caused The Great Depression? (Arthur Robey)
In the aftermath of the Stock Market Crash of October 1929, financial panic gripped the United States of America. The Great Depression (1929-1941) was the longest-lasting sustained economic downturn in the history of the Western industrialized world.
Oil Heads Lower As Supply Concerns Abate (Josh O.)
Chinese customs data show that Russian crude imports in April reached a record high at 1.17 million barrels per day. We can see in our ClipperData that waterborne Russian imports reached a record high last month, and volumes are continuing to arrive at the same pace so far in May; independent teapot refiners are likely continuing to fill their boots with crude locked in at lower prices earlier in the year. As the chart below illustrates, Chinese waterborne imports continue to rip higher…
Indoor Farms Could Revolutionize Agriculture (richcabot)
AeroFarms plans to open facilities on four continents in the next five years. However, it’s one of several popping up around the globe. In Miyagi Prefecture, Japan, for example, the indoor farm Mirai was created in response to a food shortage after the 2011 Tōhoku earthquake and tsunami. Mirai now produces 10,000 heads of lettuce per day.
Gold & Silver
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