The usual gang of suspects is afoot today spreading their brand of joy and ‘liberty’. Currency manipulation to monetary meltdown will be solved by the Governments around the world and at home. Only problem is they’re the ones who caused the troubles. Of course free speech can’t be unpunished either.
Policing our financial well-being is job #1 at DoJ. These stalwart ferrets will uncover and expose to sunlight the hooligans with the same alacrity as the Russian probe.
DOJ launches investigation into bitcoin price manipulation: report
The U.S. Department of Justice has opened a criminal investigation into whether traders are manipulating the price of bitcoin and other cryptocurrencies, said a Bloomberg report on Thursday citing unnamed sources. Investigators are focused on illegal moves that can affect prices, such as spoofing, which refers to flooding a market with fake orders. Bitcoin BTCUSD, -2.86% recently was changing hands around $7,388, after falling sharply Wednesday.
We here at Loon Watch are observing the workings of our highly esteemed and incorrigible DoJ. After seeing them root out the Russian infiltration of the Trump Administration We rest easy that they’ll find the culprit for these shenanigans.
This is quite interesting since Islam forbids collection of interest. But as we have seen in the past, political choices brush such things aside.
Turkey’s Currency Meltdown
Investing in emerging markets is like watching the tides without the moon as a guide. Capital flows in and out in surges, and woe to the country that gets caught with bad policies when the tide suddenly goes out. Argentina has been getting that re-education of late, and now Turkey is watching capital flee for safer climes.
Turkey’s lira fell as much as 5% on Wednesday, and it’s lost more than a fifth of its value this year, adding to a long decline that is forcing extreme monetary measures to compensate. Much of the blame lies with President Recep Tayyip Erdogan, as Turkey has been running a current-account deficit that is on trend to exceed 6% of GDP. Turkey has been growing rapidly but the growth has been heavily financed by dollar-denominated investment.
Meanwhile, Mr. Erdogan has been beating the central bank like it’s Syria’s Bashar Assad. In Ankara this month, he called high interest rates “both the mother and father of all evils.” Investors took this to mean he’s exerting political control over Turkey’s central bank even as inflation has reached nearly 11%.
With capital fleeing, Mr. Erdogan is getting higher interest rates in any case as the central bank tries to stem the lira panic. On Wednesday the bank lifted a key lending rate to 16.5% from 13.5%. Consider this the price of the lost credibility of Turkish institutions under Mr. Erdogan’s increasingly authoritarian rule. Dictators are rarely good economic managers because they want to dictate fiscal and monetary policy as much as they do every political choice. [snip]
From the “How come department” the question presented is why do all tyrants wind up in the same place. Well, this is just another show to enjoy as the curtain rises on Act II of “Schadenfreude, how do I love thee”.
Again, the Progressive “Policy of Tolerance” graces us with it’s benevolence.
He was suspended for wearing a Trump shirt. Now, he’s suing his Oregon school district
An Oregon high school student is suing his school, saying it violated his First Amendment rights when it suspended him for wearing a Trump T-shirt.

The student, 18-year-old Addison Barnes, told FOX 12 that he was asked to cover up a T-shirt he was wearing that said “Donald J. Trump Construction Co.” on it, or leave school. The shirt also included a Trump quote: “The wall just got 10 feet taller.”
According to KGW, Barnes wore the shirt to his People and Politics class at Liberty High School in Hillsboro in January, and he told the TV outlet he knew they’d be discussing immigration in class that day.
The school official who pulled Barnes out of class to ask him to cover the shirt also told him at least one student and one teacher had been offended by the shirt, The Associated Press reported. [snip]
“The high school, ironically named Liberty High School, had violated his free speech rights,” Barnes’ attorney, Mike McLane, told KGW. The Associated Press reports that McLane is also the leader of the Republican minority in Oregon’s House of Representatives. [snip]
Left unsaid was the condition of the offended student and teacher. Did they need counseling or a trip to the mental trauma center.
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