Month: October 2016

US Taxpayers Pay AT&T Millions A Year For The Privilege Of Being Spied Upon

On Monday, The Daily Beast published a hugely important story about AT&T’s in-house, for-profit surveillance operation called Project Hemisphere. The program has nothing to do with information sharing legally required under a warrant, but rather consists of a business line through which the telecom giant stores customer data longer than peers in order to turn around and sell it to government agencies (no warrant required). This allows law enforcement to use secret and never disclosed evidence to build cases against citizens via a shady and unaccountable practice known as parallel construction.

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Venezuela Throws In The Towel On Hyperinflation: Will Print 200x Higher-Denominated Bills

Venezuela’s highest denomination bill in circulation, 100 bolivars, is worth approximately 8 cents on the black market now. And though Maduro and the local government sternly refused to admit reality they are now having to change their tune. They are planning to issue new bills in December with larger denominations—up to 200 times higher than the current biggest bill. The new coins and notes will go up to 20,000 bolivars, making the biggest note worth about $15 on the black market.

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