Gold Surge Bodes Ill for Economy

The recent increase in gold prices suggest investors are increasingly worried the Federal Reserve may soon back off its current policy of quantitative easing in which it has bought billions of dollars of U.S. treasury debt and mortgage backed securities over the past few years.

In an article published Monday, Tyler Durden of ZeroHedge.com noted investors last week covered an enormous number of options contracts going short on gold futures prices, 23,518 futures contracts in total, suggesting a short-squeeze on gold is starting to solidify.

Short positions on gold futures contracts involve bets an investor makes that the price of gold will drop in the future. If the price of gold does not drop as anticipated, the investor owning a short contract must take a loss by purchasing gold at current prices to close out the contract on the expiration date.

When gold prices increase, investors owning gold futures short contracts risk losing money on the bad bet that the price of gold would have declined between the date the contract was purchased and the expiration date of the contract.

Durden noted the covering of gold shorts occurred last week at the fastest pace seen in the past 13 years.

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Breitbart News Interview: Mark Levin and The Liberty Amendments

Photo Credit: CNS NewsBreitbart News: With The Liberty Amendments, you’re attempting to launch a movement to amend the Constitution. Do you expect to be successful, and how long would it take?

Levin: What I hope to do, at least in some small way, is begin a discussion among those of us who believe the Republic is unraveling, and find a way to re-establish the Constitution and reclaim our heritage. When you look at the massive debt and reckless monetary policies of the federal government; the ability of five Supreme Court justices to pervert the Constitution and impose via fiat their personal policy preferences on the whole of society without any recourse; Congress’s legislating, through massive bills, outside its enumerated powers and its delegation of unchecked power to a massive and growing bureaucracy, which legislates thousands of times each year by regulatory fiat; and the increasing authoritarianism of presidents who issue executive orders to create their own law and also blatantly rewrite statutes by interpretation and execution (or not) based on whether they agree with them or not; I think this and much more evinces the growing and steady decline of constitutional republicanism.

And I’ve concluded that Washington is incapable of reforming itself, which should seem fairly obvious. After all, it has designed the federal Leviathan, which is getting bigger and more aggressive. And I was thinking: What has this federal government become? It is not a constitutional, federal, or representative republic, as our Framers understood those institutions. I believe the federal government is increasingly operating outside the Constitution and that we are in a post-constitutional period. This is how justices, presidents, and members of Congress are able to concoct and then impose such monstrous laws as Obamacare and Dodd-Frank, among thousands of other laws and rules every year, on an unwitting population.

This book is written for those of us who fear what is happening to our nation–the increasing authoritarianism and abuse of the individual–and refuse to accept these events either by pretending they are not serious or as the inevitable decline of a great republic. This has been building for decades, since at least the advent of the Progressive era, and, in my view, requires a resolute, decades’-long effort to reverse course. So, the question arises, what do we do? For those of us who care, my book explores some of the possibilities. And they are provided in the Constitution itself.

The Framers knew better than others what it was like to confront actual tyranny. So why wouldn’t we look to these greatest men for answers? So, that’s what I did. If you look at Article V of the Constitution, it includes, among other things, two processes for amending the Constitution. The first process has resulted in twenty-seven amendments: two-thirds of both Houses of Congress propose an amendment, and three-fourths of the states are required to ratify it. In the second process, which is every bit as legitimate, two-thirds of the states decide to convene a meeting for the purpose of proposing amendments, which are then sent to the states for three-fourths ratification. It is a process that essentially bypasses Congress. Let me be as clear as I can: this second amendment process provides for a convention of the states to propose amendments, which in turn must be ratified by three-fourths of the states; it does not provide for a Constitutional Convention. Furthermore, because three-fourths of the states must ratify proposed amendments, there would be no “runaway convention” overturning the entire Constitution, as some might fear monger. I fully expect the most vociferous critics of this constitutional process to be among those who support or have contributed to all manner of constitutional evasions and distortions in favor of the increasing centralization and concentration of power, which is precisely what the Constitution was established to prevent.

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North Carolina Governor Signs Extensive Voter ID Law

North Carolina Gov. Pat McCrory (R) on Monday signed into law one of the nation’s most wide-ranging Voter ID laws.

The move is likely to touch off a major court battle over voting rights, and the Justice Department is weighing a challenge to the new law, which is the first to pass since the U.S. Supreme Court struck down part of the Voting Rights Act.

The measure requires voters to present government-issued photo identification at the polls and shortens the early voting period from 17 to 10 days. It will also end pre-registration for 16- and 17-year-old voters who will be 18 on Election Day and eliminates same-day voter registration.

Democrats and minority groups have been fighting against the changes, arguing that they represent an effort to suppress the minority vote and the youth vote, along with reducing Democrats’ advantage in early voting. They point out that there is little documented evidence of voter fraud.

Republicans say that the efforts are necessary to combat such fraud and that shortening the window for early voting will save the state money. They also note that, while the North Carolina law makes many changes to how the state conducts its elections, most of its major proposals — specifically, Voter ID and ending same-day registration — bring it in line with many other states. More than three-fifths of states currently have some kind of Voter ID law, and even more have no same-day registration. Not all states allow in-person early voting.

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Proposed New Federal Rule Could Put ‘Big Brother’ in Your Driver’s Seat

A proposed federal rule that would require black boxes or event data recorders (EDRs) in every U.S. automobile may mean “Big Brother” could be in your passenger seat for every drive.

The National Highway Traffic Safety Administration rule requires all light passenger vehicles be equipped with an EDR by Sep.1, 2014. Ninety-six percent of new cars already have them – measuring such inputs as speed, lateral acceleration, pedal effort, seat belt use, wheel spin, steering wheel turn and direction.

Black box data retrieved from U.S. car accidents in a single day would provide more information than a year’s worth of crash testing, says Tom Kowalick, who heads the design team that is standardizing the devices for automakers worldwide.

But he also said he fears that for all their potential good, the EDRs present a massive privacy dilemma, and an opportunity for fraudsters.

“They can take that odometer and roll that odometer back to zero,” he said. “They can change the Vehicle Identification Number (VIN), which is in the computer. And once they do that, then it’s okay for them to very simply steal the motor vehicle and move it away.”

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Update: Mo. State Fair Bans Rodeo Clown Who Mocked Obama

Photo Credit: YahooThe Missouri State Fair on Monday imposed a lifetime ban on a rodeo clown whose depiction of President Barack Obama getting charged by a bull was widely criticized by Democratic and Republican officials alike.

The rodeo clown won’t be allowed to participate or perform at the fair again. Fair officials say they’re also reviewing whether to take any action against the Missouri Rodeo Cowboy Association, the contractor responsible for Saturday’s event.

The entertainment during the bull riding contest featured a clown wearing a mask of Obama with an upside down broomstick attached to his backside. Spectators were asked if they wanted to see “Obama run down by a bull.” Many in the audience responded enthusiastically.

Numerous Missouri officials denounced the act after video and photos were posted online. Some Democratic Missouri lawmakers suggested Monday that there should be financial consequences for the fair.

The fair said in a written statement announcing the clown’s ban that he had engaged in an “unconscionable stunt” that was “inappropriate and not in keeping with the Fair’s standards.” The fair’s press release did not identify the clown.

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Poll: Only 11 Percent Believe Obama’s NSA Promises

Despite President Obama’s pledge to increase transparency and curb certain aspects of the National Security Agency’s surveillance program, a new Rasmussen poll shows the vast majority of Americans still need some convincing.

Only 11 percent of 1,000 likely voters polled believe the “president’s new policy” will make it less likely that the NSA will monitor the private phone calls of ordinary Americans.

Thirty percent actually believe the government is now more likely to spy on domestic phone calls, while a whopping 49 percent feel Friday’s announcement will do little to change the surveillance program.

On Friday Obama outlined a number of new steps designed to ease American fears after the June disclosure of NSA domestic spying programs by disillusioned contractor Edward Snowden.

Among those was a push to revise and clarify Section 215 of the Patriot Act, the controversial provision that the NSA uses to justify the boundless collection of cellphone metadata.

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Jihadist Leader to U.S.: ‘Islam is Coming’

Photo Credit: WNDDuring a radio interview Sunday, a representative of al-Qaida in the Gaza Strip sent a message to the United States: “Islam is coming and there is no other choice.”

That sentiment was expressed by Abu Saqer, leader of Jihadiya Salafiya in the Gaza Strip, speaking on “Aaron Klein Investigative Radio” on New York’s WABC Radio.

Jihadiya Salafiya represents al-Qaida in the Gaza Strip.

Saqer further stated that after battling Syrian President Bashar al-Assad, the thousands of foreign jihadists currently in Syria could turn their ire on what he called the many other “enemies of Islam,” including Israel and the United States.

Saqer did not say the spread of Islam in the U.S. will come through violence.

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The NSA is Turning the Internet into a Total Surveillance System

Photo Credit: Roger ToothBy Alexander Abdo and Patrick Toomey

Another burst of sunlight permeated the National Security Agency’s black box of domestic surveillance last week.

According to the New York Times, the NSA is searching the content of virtually every email that comes into or goes out of the United States without a warrant. To accomplish this astonishing invasion of Americans’ privacy, the NSA reportedly is making a copy of nearly every international email. It then searches that cloned data, keeping all of the emails containing certain keywords and deleting the rest – all in a matter of seconds.

If you emailed a friend, family member or colleague overseas today (or if, from abroad, you emailed someone in the US), chances are that the NSA made a copy of that email and searched it for suspicious information.

The NSA appears to believe this general monitoring of our electronic communications is justified because the entire process takes, in one official’s words, “a small number of seconds”. Translation: the NSA thinks it can intercept and then read Americans’ emails so long as the intrusion is swift, efficient and silent.

That is not how the fourth amendment works.

Read more from this story HERE.

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N.S.A. Said to Search Content of Messages to and From U.S.

By Charlie Savage

The National Security Agency is searching the contents of vast amounts of Americans’ e-mail and text communications into and out of the country, hunting for people who mention information about foreigners under surveillance, according to intelligence officials.

The N.S.A. is not just intercepting the communications of Americans who are in direct contact with foreigners targeted overseas, a practice that government officials have openly acknowledged. It is also casting a far wider net for people who cite information linked to those foreigners, like a little used e-mail address, according to a senior intelligence official.

While it has long been known that the agency conducts extensive computer searches of data it vacuums up overseas, that it is systematically searching — without warrants — through the contents of Americans’ communications that cross the border reveals more about the scale of its secret operations.

It also adds another element to the unfolding debate, provoked by the disclosures of Edward J. Snowden, the former N.S.A. contractor, about whether the agency has infringed on Americans’ privacy as it scoops up e-mails and phone data in its quest to ferret out foreign intelligence.

Government officials say the cross-border surveillance was authorized by a 2008 law, the FISA Amendments Act, in which Congress approved eavesdropping on domestic soil without warrants as long as the “target” was a noncitizen abroad. Voice communications are not included in that surveillance, the senior official said.

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Tea Party Returns to More Solid Ground, Midterm Challenges to Democrats and Republicans

Photo Credit: APThe Tea Party is getting back on more solid ground — midterm elections where in 2010 the fledgling, grassroots movement unseated so-called “Washington insiders” and helped Republicans win control of the House.

The loosely-knit coalition of groups has already targeted some of the Republican Party’s most established candidates, accusing them of compromising their conservative principles in negotiating with Democrats.

The Tea Party Express even boasted this winter that promising to mount a primary challenge against Georgia Republican Rep. Saxby Chambliss forced him to retire instead of seeking a third term.

“Lest anyone think this decision is about a primary challenge, I have no doubt that had I decided to be a candidate, I would have won re-election,” responded Chambliss, who was part of a bipartisan Senate group that tried to reduce the national debt.

One of the most recent, high-profile Tea Party challenges is in South Carolina, where Nancy Mace, the first female graduate of The Citadel, is trying to unseat two-term Republican Sen. Lindsey Graham, whose efforts to pass immigration-reform legislation appears most upsetting to the movement.

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NSA and DOJ Mum on Investigation into al-Qaida Conference Call Leak

Photo Credit: Daily Caller Neither the National Security Agency nor the Department of Justice will say whether the government plans to investigate intelligence leaks about al-Qaida’s so-called Legion of Doom conference call.

The NSA declined The Daily Caller’s request for comment about whether an internal investigation into the leaks had been initiated. The DOJ did not respond to the Daily Caller’s multiple requests for comment by the time of publication.

There is currently little indication, however, that the federal government is investigating the three anonymous U.S. intelligence officials who spoke to The Daily Beast, or the anonymous U.S. official who spoke to McClatchy, about the intercepted Internet al-Qaida conference call.

The U.S. government ordered the closing of 22 embassies across the Middle East and Africa due to national security threats made during an intercepted Internet conference call between over 20 al-Qaida representatives, including al-Qaida leader Ayman al-Zawahiri.

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