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If We Don’t Change the Way Money Is Created and Distributed, Rising Inequality Will Trigger Social Disorder

November 13, 2015

If We Don’t Change the Way Money Is Created and Distributed, Rising Inequality Will Trigger Social Disorder

Centrally issued money optimizes inequality, monopoly, cronyism, stagnation, low social mobility and systemic instability.

If we don’t change the way money is created and distributed, wealth inequality will widen to the point of social disorder.

Everyone who wants to reduce wealth inequality with more regulations and taxes is missing the key dynamic: the monopoly on creating and issuing money necessarily widens wealth inequality, as those with access to newly issued money can always outbid the rest of us to buy the engines of wealth creation.

Control of money issuance and access to low-cost credit create financial and political power. Those with access to low-cost credit have a monopoly as valuable as the one to create money.

Compare the limited power of an individual with cash and the enormous power of unlimited cheap credit.

Let’s say an individual has saved $100,000 in cash. He keeps the money in the bank, which pays him less than 1% interest. Rather than earn this low rate, he decides to loan the cash to an individual who wants to buy a rental home at 4% interest.

There’s a tradeoff to earn this higher rate of interest: the saver has to accept the risk that the borrower might default on the loan, and that the home will not be worth the $100,000 the borrower owes.

The bank, on the other hand, can perform magic with the $100,000 they obtain from the central bank. The bank can issue 19 times this amount in new loans—in effect, creating $1,900,000 in new money out of thin air.

This is the magic of fractional reserve lending. The bank is only required to hold a small percentage of outstanding loans as reserves against losses. If the reserve requirement is 5%, the bank can issue $1,900,000 in new loans based on the $100,000 in cash: the bank holds assets of $2,000,000, of which 5% ($100,000) is held in cash reserves.

…click on the above link to read the rest of the article…

An Almost Perfect Storm of Incompetence and Felony

November 11, 2015

An Almost Perfect Storm of Incompetence and Felony

“People of privilege will always risk their complete destruction rather than surrender any material part of their advantage. Intellectual myopia, often called stupidity, is no doubt a reason.

But the privileged also feel that their privileges, however egregious they may seem to others, are a solemn, basic, God-given right.”
John Kenneth Galbraith, Age of Uncertainty

“Misdeeds, once exposed, have no refuge but in audacity. And they have accomplices in those who are fearful in their complicity.”
Tacitus, Annals

I was discussing the markets this morning with my friends Dave and Bill Murphy as we generally do. This is what I just wrote back in response to a question from Bill.

I read his columns at LeMetropoleCafe.com every day. His is an amazing crossroads for discussion of things that are interesting about precious metals. I have been a subscriber since 2000. Dave has a new site at Investment Research Dynamics that is quite good and different since he has a very different background in the heart of darkness as a NYC bond trader from mine as a Bell Lab rat and Silicon Valley roustabout.

We just saw a very historically significant decline in the precious metals in terms of days lower without relief. And we have seen a remarkable rise in the US dollar index against the Euro and the Swiss franc that cannot possibly be good for the real economy of the US, when every other developed nation is trying to devalue their currencies to stimulate their exports and inhibit imports.

I believe that a portion of the gold selling in particular is an effort to knock down the open interest in gold for December. If there was any serious attempt for holders of those contracts to stand for delivery, even JPM, which has been obviously building up its stores of gold to act as the ‘fixer’ in that market, would not be able to cover the demand.

JPM was consistently taking delivery for their house account in gold, and just transferred 70,000+ ounces over from Nova Scotia’s warehouse, from whom they had been taking delivery.

As we know, in the last big delivery month, JPM stepped up with an enormous amount of their gold, 400,000+ ounces, to provide enough real bullion to satisfy the contracts standing for delivery. Even now their inventories remain somewhat depleted.

The dollar has also been soaring, because the Fed is trying to pretend that the US is recovering so that they can raise rates. A strong dollar and higher rates are very harmful to what is almost undoubtedly a fragile economic recovery in the US.

And it is fantasy to think that the US can somehow go it alone, and continue to improve while the rest of the world is cutting rates because their economies are slowing.

The Fed wants to raise rates for their own policy purposes, so they can cut them, without going overtly negative, when their latest financial bubble starts to collapse, which it may already be doing. They cannot really raise rates in a Presidential election year past June, so they will push ahead, to serve their own purposes, even as they harm the real economy.

There will be another financial crisis as the IMF warned today. There will be a serious dislocation in several financial markets, including the precious metals and the bonds at some point, that will rock the current system to its foundations.

It is a portion of the credibility trap which inhibits any meaningful remedy and reform.

It is an almost perfect storm of incompetence and felony.

Methods For Fighting Back Against Collectivist Tyranny

November 11, 2015

Methods For Fighting Back Against Collectivist Tyranny

In any examination of historical precedence, it is easy to see that the sheer number of collectivist and tyrannical systems have far outweighed any experiments in individual liberty. I have explored the reasons for this in numerous articles, including recent pieces such as “How To Stamp Out Cultural Marxism In A Single Generation” and “The Tools Collectivists Use To Gain Power.” To summarize, there is a driving desire among weaker-minded people to seek control over other people in the name of arbitrary standards of safety as well as arbitrary standards of “civil” conformity. While such people proclaim publicly that they do what they do for the “greater good,” in reality they seek only to satiate a private lust for power.

In the darkest corners of their souls, many people have personal aspirations to attain godhood in their own little worlds. And if they cannot achieve such godhood outright on their own, then they will join a mob with similar aspirations so that they can at least feel omnipotent through vicarious tyranny.

This is why collectivism and individualism are mutually exclusive. A collectivist uses force or manipulation to compel the masses to accept a society that follows his personal ideology. An individualist adheres only to the tenets of natural law and the non-aggression principle. He believes force is justified only when the personal liberties of an individual are threatened by others. And he demands that if he participates in any society, it be voluntary. Collectivism is society through coercion. Individualism promotes society through voluntary cooperation. The two philosophies cannot coexist.

I’ll say it again because there are some people out there with severe reading comprehension issues; the definition of collectivism requires the prioritization of the group over the rights of the individual. Collectivism by its very nature denies or destroys individualism and individual choice in this prioritization.

…click on the above link to read the rest of the article…

2.1 Million Greeks Face Blackout As Public Power Company Unpaid Bills Soars

November 5, 2015

2.1 Million Greeks Face Blackout As Public Power Company Unpaid Bills Soars

Greece’s Public Power Company is angry. The amount of unpaid bills by its customers has reached the astronomic EUR 2.5 billion. The PPC is so angry that it plans to cut the power to those without outstanding debts as soon as possible – a whopping 2.1 million Greeks face darkness.

As KeepTakingGreece reports, many Greeks cannot afford to pay the bi-monthly bill mostly because the amount to be paid doubles due to added extra fees like emissions, green-whatever, municipality fees, state tv fees, etc.

For example bi-monthly electricity consumption is estimated by DEH to be €52 but i am asked to pay €100 becausee of the extra charges. The bill includes 13% Value Added Tax but also “interest” of €0.44 although I pay per monthly bank order and I am never late. Every 4 months I receive a bill based on my real consumption – and not just an ‘estimation’ – and then I find my self in a state of passing out. Summer months are more expensive due to the use of A/C, winter months are also expensive due to the use of electric devices like A/C to heat the apartment. Bills explode to several hundred euros.

I am not alone in my struggle to pay the bill. But many cannot even afford it.

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According to Greek media reports, 2.1 million consumers have outstanding debts to the Greek PPC. They are private households, businessmen of small and medium enterprises, merchants, craftsmen.

Now the PPC plans to “turn the power off” and leave them in the dark. Not without previous notice, though. It will send consumers a warning and if they won’t comply, they will desperately seek to turn on the lights in the evening, cook for their kids, keep the cheese in the fridge, use their wireless phone, watch tv, heat their homes opr complain about their situations on the internet.

The business debts are reportedly 1.8 billion euro.

…click on the above link to read the rest of the article…

When Collapse Is Cheaper and More Effective Than Reform

November 5, 2015

When Collapse Is Cheaper and More Effective Than Reform

Collapse begins when real reform becomes impossible.

We all know why reforms fail: everyone whose share of the power and money is being crimped by reforms fights back with everything they’ve got.

Reforms that can’t be stopped by the outright purchase of politicos are watered down in committee, and loopholes wide enough for jumbo-jets of cash to fly through are inserted.

The reform quickly becomes “reform”–a simulacrum that maintains the facade of fixing what’s broken while maintaining the Status Quo. Another layer of costly bureaucracy is added, along with hundreds or thousands of pages of additional regulations, all of which add cost and friction without actually solving what was broken.

The added friction increases the system’s operating costs at multiple levels.Practitioners must stop doing actual work to fill out forms that are filed and forgotten; lobbyists milk the system to eradicate any tiny reductions in the flow of swag; attorneys probe the new regulations for weaknesses with lawsuits, and the enforcing agencies add staff to issue fines.

None of this actually fixes what was broken; all these fake-reforms add costs and reduce whatever efficiencies kept the system afloat. Recent examples include the banking regulations passed in the wake of the 2008 meltdown and the ObamaCare Affordable Care Act (ACA).

Back in 2010 I prepared this chart of The Lifecycle of Bureaucracy: as bureaucracies expand, they inevitably become less accountable, less efficient, more bloated with legacy staffing and requirements that no longer make sense, etc.

As costs soar, the bureaucracy’s budget is attacked, and the agency circles the wagons and focuses on lobbying politicos and the public to leave the budget untouched.

…click on the above link to read the rest of the article…

Twenty-First-Century Fascism

October 21, 2015

Twenty-First-Century Fascism

Globalization of trade and central banking has propelled private corporations to positions of power and control never before seen in human history. Under advanced capitalism, the structural demands for a return on investment require an unending expansion of centralized capital in the hands of fewer and fewer people. The financial center of global capitalism is so highly concentrated that less than a few thousand people dominate and control $100 trillion of wealth.

The few thousand people controlling global capital amounts to less than 0.0001 percent of the world’s population. They are the transnational capitalist class (TCC), who, as the capitalist elite of the world, dominate nation-states through international trade agreements and transnational state organizations such as the World Bank, the Bank for International Settlements, and the International Monetary Fund.

The TCC communicates their policy requirements through global networks such as the G-7 and G-20, and various nongovernmental policy organizations such as the World Economic Forum, the Trilateral Commission, and the Bilderberger Group. The TCC represents the interests of hundreds of thousands of millionaires and billionaires who comprise the richest people in the top 1 percent of the world’s wealth hierarchy.

The TCC are keenly aware of both their elite status and their increasing vulnerabilities to democracy movements and to unrest from below. The military empire dominated by the US and the North Atlantic Treaty Organization (NATO) serves to protect TCC investments around the world. Wars, regime changes, and occupations performed in service of empire support investors’ access to natural resources and their speculative advantages in the market place.

When the empire is slow to perform or faced with political resistance, private security firms and private military companies (PMC) increasingly fulfill the TCC’s demands for the protections of their assets.

…click on the above link to read the rest of the article…

Buying Power

October 11, 2015

Now they are deploying their vast wealth in the political arena, providing almost half of all the seed money raised to support Democratic and Republican presidential candidates. Just 158 families, along with companies they own or control, contributed $176 million in the first phase of the campaign, a New York Times investigation found. Not since before Watergate have so few people and businesses provided so much early money in a campaign, most of it through channels legalized by the Supreme Court’s Citizens United decision five years ago.

These donors’ fortunes reflect the shifting composition of the country’s economic elite. Relatively few work in the traditional ranks of corporate America, or hail from dynasties of inherited wealth. Most built their own businesses, parlaying talent and an appetite for risk into huge wealth: They founded hedge funds in New York, bought up undervalued oil leases in Texas, made blockbusters in Hollywood. More than a dozen of the elite donors were born outside the United States, immigrating from countries like Cuba, the old Soviet Union, Pakistan, India and Israel.

But regardless of industry, the families investing the most in presidential politics overwhelmingly lean right, contributing tens of millions of dollars to support Republican candidates who have pledged to pare regulations; cut taxes on income, capital gains and inheritances; and shrink entitlement programs. While such measures would help protect their own wealth, the donors describe their embrace of them more broadly, as the surest means of promoting economic growth and preserving a system that would allow others to prosper, too.

…click on the above link to read the rest of the article…

The Curse of Totalitarianism and the Challenge of an Insurrectional Pedagogy

October 2, 2015

The Curse of Totalitarianism and the Challenge of an Insurrectional Pedagogy

Introduction

The forces of free-market fundamentalism are on the march ushering in a terrifying horizon of what Hannah Arendt once called “dark times.” Across the globe, the tension between democratic values and market fundamentalism has reached a breaking point. [1] The social contract is under assault, neo-Nazism is on the rise, right wing populism is propelling extremist political candidates and social movements into the forefront of political life, anti-immigrant sentiment is now wrapped in the poisonous logic of nationalism and exceptionalism, racism has become a mark of celebrated audacity, and a politics of disposability comes dangerously close to its endgame of extermination for those considered excess. Under such circumstances, it becomes frightfully clear that the conditions for totalitarianism and state violence are still with us smothering critical thought, social responsibility, the ethical imagination, and politics itself. As Bill Dixon observes:

[T]he totalitarian form is still with us because the all too protean origins of totalitarianism are still with us: loneliness as the normal register of social life, the frenzied lawfulness of ideological certitude, mass poverty and mass homelessness, the routine use of terror as a political instrument, and the ever growing speeds and scales of media, economics, and warfare. [2]

In the United States, the extreme right in both political parties no longer needs the comfort of a counterfeit ideology in which appeals are made to the common good, human decency, and democratic values. On the contrary, power is now concentrated in the hands of relatively few people and corporations while power is global and free from the limited politics of the democratic state. In fact, the state for all intent and purposes has become the corporate state. Dominant power is now all too visible and the policies, practices, and wrecking ball it has imposed on society appear to be largely unchecked.

…click on the above link to read the rest of the article…

Forget the New World Order, Here’s Who Really Runs the World

September 25, 2015

Forget the New World Order, Here’s Who Really Runs the World

For decades, extreme ideologies on both the left and the right have clashed over the conspiratorial concept of a shadowy secret government pulling the strings on the world’s heads of state and captains of industry.

The phrase New World Order is largely derided as a sophomoric conspiracy theory entertained by minds that lack the sophistication necessary to understand the nuances of geopolitics. But it turns out the core idea — one of deep and overarching collusion between Wall Street and government with a globalist agenda — is operational in what a number of insiders call the “Deep State.”

In the past couple of years, the term has gained traction across a wide swath of ideologies. Former Republican congressional aide Mike Lofgren says it is the nexus of Wall Street and the national security state — a relationship where elected and unelected figures join forces to consolidate power and serve vested interests. Calling it “the big story of our time,” Lofgren says the deep state represents the failure of our visible constitutional government and the cross-fertilization of corporatism with the globalist war on terror.

“It is a hybrid of national security and law enforcement agencies: the Department of Defense, the Department of State, the Department of Homeland Security, the Central Intelligence Agency and the Justice Department. I also include the Department of the Treasury because of its jurisdiction over financial flows, its enforcement of international sanctions and its organic symbiosis with Wall Street,” he explained.

Even parts of the judiciary, namely the Foreign Intelligence Surveillance Court, belong to the deep state.

How does the deep state operate?

A complex web of revolving doors between the military-industrial-complex, Wall Street, and Silicon Valley consolidates the interests of defense contracts, banksters, military actions, and both foreign and domestic surveillance intelligence.

According to Mike Lofgren and many other insiders, this is not a conspiracy theory. The deep state hides in plain sight and goes far beyond the military-industrial complex President Dwight D. Eisenhower warned about in his farewell speech over fifty years ago.

…click on the above link to read the rest of the article…

Preparedness Tip: Cooking Without Power, Part 1

September 20, 2015

Preparedness Tip: Cooking Without Power, Part 1

Thanks to a reliable power grid Americans aren’t used to the “lights going out” often, but when they do many are surprised to also lose their cooking means—stovetop elements, ovens, microwaves, toasters, and coffeemakers. Everything Americans use on a daily basis for food preparation needs a plug. Even gas stoves rely on power to light the burners (a few gas ranges have battery-powered igniters). In the coming hard times power will be down for at least several months and possibly several years depending on your area.

Worse, the best retreat sites are in rural areas which won’t merit priority for restoring power. Even natural gas, which relies on electric power to operate its pipelines and distribution, will fail—unless your service is one of the few that use natural gas generators to keep pumps going.

A 1000 gallon propane tank is the easiest way to store a lot of cooking fuel: it is cheap, lasts indefinitely and is easy to put in and have filled. Propane is cheapest in the summer so get enough propane on-site that you can go a whole year without having to dip into your reserves—preferably several hundred gallons.

If you need to get another tank as backup now is a good time—propane prices have been so cheap recently, you can install another tank for 1/3 the cost. Connect both tanks together with an isolation valve between them so a leak in one doesn’t empty both tanks.

Even if you have natural gas, it is worth getting propane as a backup. You can buy replacement jet nozzles for all your natural gas appliances like the stove, oven, dryer and water heater and convert to run on propane. Many modern gas appliances already also have an “LP” (liquid propane) attachment point and have two sizes of jets inside, so switching over is easy.

…click on the above link to read the rest of the article…

War is the Health of the State

September 17, 2015

War is the Health of the State

The Misfortune of Being Born Into a State

In an essay titled “The State”, Randolph Bourne, an American writer, made a distinction between a country and a state that I find crucial. He described one’s country as “an inescapable group into which we are born”. In his view, a country is “a concept of peace, tolerance, of living and letting live. But the State is essentially a concept of power, of competition; it signifies a group in its aggressive aspects. And we have the misfortune of being born not only into a country but into a State, and as we grow up we learn to mingle the two feelings into a hopeless confusion”.

Randolph Bourne Randolph Silliman Bourne: a lifelong enemy of the State and war. His great unfinished work “The State” was discovered after his death. Bourne’s odd physical appearance owed to tuberculosis of the spine, which he suffered in childhood. Jeffrey Riggenbach has published a great paean on the brilliance of Randolph Bourne at the Mises Institute.

Photo credit: Rare Book and Manuscript Library, Columbia University

Bourne continues to say:

“It cannot be too firmly realized that war is a function of States and not of nations. Indeed, that it is the chief function of States. War is a very artificial thing. It is not the naïve spontaneous outburst of herd pugnacity; it is no more primary than is formal religion. War cannot exist without a military establishment, and a military establishment cannot exist without a State organization. War has an immemorial tradition and heredity only because the State has a long tradition and heredity. But they are inseparably and functionally joined. We cannot crusade against war without crusading implicitly against the State. And we cannot expect, or take measures to ensure that this war is a war to end war, unless at the same time we take measures to end the State in its traditional form.”

…click on the above link to read the rest of the article…

Undamming Rivers: A Chance For New Clean Energy Source

August 7, 2015

Undamming Rivers: A Chance For New Clean Energy Source

Many hydroelectric dams produce modest amounts of power yet do enormous damage to rivers and fish populations. Why not take down these aging structures, build solar farms in the drained reservoirs, and restore the natural ecology of the rivers?

Hydroelectric power is often touted as clean energy, but this claim is true only in the narrow sense of not causing air pollution. In many places, such as the U.S. East Coast, hydroelectric dams have damaged the ecological integrity of nearly every major river and have decimated runs of migratory fish.

This need not continue. Our rivers can be liberated from their concrete shackles, while also continuing to produce electricity at the site of former hydropower dams. How might that occur? A confluence of factors — the aging of many dams, the advent of industrial-scale alternative energy

American Rivers

If Maryland’s Conowingo Dam were removed, large-scale solar projects could be built on the site of its drained 9,000-acre reservoir.

sources, and increasing recognition of the failure of traditional engineering approaches to sustain migratory fish populations — raises fresh possibilities for large rivers to continue to help provide power and, simultaneously, to have their biological legacies restored.

The answer may lie in “sharing” our dammed rivers, and the concept is straightforward. Remove aging hydroelectric dams, many of which produce relatively small amounts of electricity and are soon up for relicensing. When waters recede, rivers will occupy only part of the newly exposed reservoir bottoms. Let’s use these as a home for utility-scale solar and wind power installations, and let’s employ the existing power line infrastructure to the dams to connect the new solar and wind power facilities to the grid. This vision both keeps the electricity flowing from these former hydropower sites, while helping to resurrect once-abundant fish runs, as has recently happened in Maine.

…click on the above link to read the rest of the article…

Stephen Harper, Serial Abuser of Power: The Evidence

August 5, 2015

Stephen Harper, Serial Abuser of Power: The Evidence

An omnibus of sins, topping 50. Tell us ones we’ve missed, we’ll add to the PM’s rap sheet.

Stephen Harper and his Conservatives have racked up dozens of serious abuses of power since forming government in 2006. From scams to smears, monkey-wrenching opponents to intimidating public servants like an Orwellian gorilla, some offences are criminal, others just offend human decency.

To spare you abuse fatigue, we’ve divided our list into two parts. The second one runs Thursday. Please help us out. As you read, if any abuses we’ve forgotten come to mind, either make a note in the comments thread after this piece or send us an email at editor@thetyee.ca, subject line Harper Abuse List. We will fold what we get into a final version as a handy reference for the campaign.

A thanks, by the way, to a few friends of The Tyee who researched and helped with this list.

ELECTION ABUSES: SCAMS, SLIMES, STINGS AND CROOKED SPENDING

Stephen Harper having called an election, we enter familiar territory. In the Conservative gladiators’ arena just about anything goes — unless and until you are caught, that is. Kicking off The Tyee’s list of Harper abuses of power are 14 times his team violated election laws or ethics:

Conservative Convicted on Robocalls Scam

Tory operative Michael Sona was given jail time for his role in the robocalls scam. The judgeindicated more than one person was likely involved. In another court judgment in a case brought by the Council of Canadians, the ruling said the robocalls operation was widespread, not just limited to the Guelph riding. Donald Segretti who did dirty tricks for the Nixon White House told a Canadian reporter his skullduggery didn’t go so low as to run schemes sending voters to the wrong polling stations.

…click on the above link to read the rest of the article…

The Soft Power Hoax

August 3, 2015

The Soft Power Hoax

U.S. officials love the idea of “soft power,” a concept that applies non-violent means – from propaganda to culture – to induce foreign countries to conform to Washington’s wishes. But the arrogance of the approach has alienated, rather than attracted, many people around the world, writes Mike Lofgren.

A recurrent buzz phrase of the Washington mandarinate in the last two decades has been “soft power.” The term was coined by Joseph Nye, a Harvard academic, in his 1990 book, Bound to Lead: The Changing Nature of American Power. What he meant by the term is that “when one country gets other countries to want what it wants [it] might be called co-optive or soft power in contrast with the hard or command power of ordering others to do what it wants.”

Soft power he defined as the putatively attractive political, social and cultural traits of a country that induce admiration in a target people, and, presumably, a desire both to emulate those traits and to willingly comply with the wishes of the country projecting the soft power.

The term has gotten a workout by American politicians and national security bureaucrats, particularly since the manifest failure of military power to make Iraqis love us. Former Secretary of Defense Robert Gates has used the term, saying he would like to augment U.S. soft power by “a dramatic increase in spending on the civilian instruments of national security – diplomacy, strategic communications, foreign assistance, civic action and economic reconstruction and development.”

…click on the above link to read the rest of the article…

The Terrorism Pretext: Mass Surveillance is About Money and Power

July 20, 2015

The Terrorism Pretext: Mass Surveillance is About Money and Power

“We are under pressure from the Treasury to justify our budget, and commercial espionage is one way of making a direct contribution to the nation’s balance of payments”

-Sir Colin McColl, former MI6 Chief

For years public figures have condemned cyber espionage committed against the United States by intruders launching their attacks out of China. These same officials then turn around and justify America’s far-reaching surveillance apparatus in terms of preventing terrorist attacks. Yet classified documents published by WikiLeaks reveal just how empty these talking points are. Specifically, top-secret intercepts prove that economic spying by the United States is pervasive, that not even allies are safe, and that it’s wielded to benefit powerful corporate interests.

At a recent campaign event in New Hampshire Hillary Clinton accusedChina of “trying to hack into everything that doesn’t move in America.” Clinton’s hyperbole is redolent of similar claims from the American Deep State. For example, who could forget the statement made by former NSA director Keith Alexander that Chinese cyber espionage represents the greatest transfer of wealth in history? Alexander has obviously never heard of quantitative easing (QE) or the self-perpetuating “global war on terror” which has likewise eaten throughtrillions of dollars. Losses due to cyber espionage are a rounding error compared to the tidal wave of money channeled through QE and the war on terror.

When discussing the NSA’s surveillance programs Keith Alexander boldly asserted that they played a vital role with regard to preventing dozens of terrorist attacks, an argument that fell apart rapidly under scrutiny. Likewise, in the days preceding the passage of the USA Freedom Act of 2015 President Obama advised that bulk phone metadata collection was essential “to keep the American people safe and secure.” Never mind that decision makers have failed to provideany evidence that bulk collection of telephone records has prevented terrorist attacks.

…click on the above link to read the rest of the article…

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