WASHINGTON (Reuters) - State and local police in the United States will no longer be able to use federal laws to justify seizing property without evidence of a crime, U.S. Attorney General Eric Holder said on Friday.
The practice of local police taking property, including cash and cars, from people that they stop, and of handing it over to federal authorities, became common during the country's war on drugs in the 1980s.
Holder cited "safeguarding civil liberties" as a reason for the change in policy.
The order directs federal agencies who have collected property during such seizures to withdraw their participation, except if the items collected could endanger the public, as in the case of firearms.
Holder said the ban was the first step in a comprehensive review the Justice Department has launched of the program.
(Reporting by Julia Edwards; Editing by Bernadette Baum)
he meant 1275. i think. nobody can be that stupid. read the rest of his post on this thread. if gold can continue, and i think it will, nugt should pop. many of the miners are profitable again, and coupled with cheap oil, operational expenses have taken a dive. this is going to be great for miners.
Did you deliberately misspell "Marriage", twice?
I am not questioning your English, I just want to make sure your statement is sincere.
Fact is IMO, This is just the insurance company's not wanting to pay out to the beneficiary. No, I am not gay. We live in different times and I support gay Marrage. Why? Because it's fair to treat everyone equal. No matter what race, creed, religion, or sexual preference. End of rant.
Agreed. There is a reason why so many National Parks are in Califorina. Death Valley, Yosemite, King's Canyon, Sequoia, just to name a few.
Very true.. interesting article.. thanks for sharing.
It's a semi-auto with a 10 round magazine. 100% legal. I live in CA., I have the scout squad version in walnut stock and I shoot it all the time. This will be my next rifle for sure! This one I will scope for long range targets.
any sense of reality falls on deaf ears on this board. they all sold and some went short. too funny. they believe in CHARTS! LOL!
Congrats! Now order one of these.
Loaded M1A™ from Springfield Armory®.
MP9826 Coming SoonPrecision Adjustable Stock w/ Medium Wt. N.M. 22" stainless steel barrel.
Don't forget lots of ammo!
If you have $100 and put it in the bank with a negative 1% interest rate—at the end of the year you can withdraw $99. But, gold could be at the same level that you purchased it.
Gold is a "non-liability backed currency," explained Bill O'Grady, chief market strategist at Confluence Investment Management. "Every other currency in the world is created by debt. Gold is not —that is its allure."
The Swiss National Bank (SNB) dropped a bombshell on the markets this week as it abandoned its currency peg at 1.20 francs per euro. The Swiss initiated this peg back in 2011 in order to support the competitiveness of Swiss industry, amid a rising tide of flight-to-quality and safe-haven flows into the Swiss franc.
So, why did the SNB pull the plug now and what does it mean for gold?
"I honestly think the reason they did this is they were tipped off that the ECB was going to something big next week and they just didn't want to expand their balance sheet anymore," said O'Grady.
The SNB has spent billions defending the currency peg in recent years. The European Central Bank is widely expected to announce an asset purchase program on January 22, in its efforts to fight a deflationary and slow growth environment in the euro zone. Part of the SNB's policy shift this week included a decrease in its negative interest rate policy. The SNB lowered its target range for the three-month Libor rate to minus 1.25% to minus 0.25%.
This in turn is positive for gold.
"When you end up with negative nominal rates in a deflationary environment, it reduces the carrying costs for gold," explained O'Grady. "The lower interest rates go, the more attractive other stores of value become. Quantitative easing and zero-interest rate policy have effectively destroyed cash as an asset class," he added.
Gold has been rallying since early November, alongside a strengthening U.S. dollar. That is unusual. Generally, gains in the U.S. dollar are a negative factor for gold. But, not this time. O'Grady.