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Hillary Clinton’s Full ‘Speech’ To Goldman Sachs

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By Tyler Durden

Given the fact that a snowball has a better chance in hell than the American public ever seeing a transcript of Hillary Clinton's various million-dollar speeches to Goldman Sachs employees, K.J. Noh, Counterpunch's resident satirist in chief, unleashes his best guess at what was said.. and if not, what was implied…

did:

CLINTON: Thank you. Thank you so much. Thank you very much, Lloyd [Blankfein], and thanks to everyone at Goldman Sachs for welcoming me today. I’m delighted to be back among friends, colleagues, collaborators, supporters, kindred spirits…

Let me jump right in. You know, over the past few months, there have been popular concerns about an economy that still isn’t delivering for the majority of Americans. It’s not “delivering” the way that they feel it should, that they feel entitled to. Most Americans that you speak to, speak a populist rhetoric that claims it is stacked for those at the top, that those of you here have it too good.

(Laughter)

But we know the hopes that the little people have for their future — things like school, job, food, clothing on their backs– all of those little things would not be possible without your leadership and innovation. Since the time of the Medicis, even before, and the financing of the first joint stock companies in the transatlantic slave trade, we know that finance and banking is what makes our capitalist economy not just grow but tick…

Previous generations of Americans built this economy and a middle class on a collective illusion: that they do productive work, this creates wealth, and that this builds the economy. We all know how misguided that is. We know that it’s really due to your investing, credit, and economic stewardship, that they have been able to work at all, that they are able to put food on their tables. It’s due to you and other banking, trading, investment houses that we have an economy that works at all. You are why we are a truly 21st century economic power.

(Applause)

For decades, people have argued that if we give more wealth to those at top by cutting taxes and letting you and other corporations write the own rules, it will trickle down, it will trickle down to everyone else. And it has! My speech here is an example!

(Cackles, Waves Check)

(Laughter).

Some will say that you are simply parasitic on those who labor at menial physical production—these are people who still subscribe to 18 Century notions of value production–and that you skim off profit without doing anything meaningful or of value. Those people are misguided: we know that if money never sleeps, that’s because you keep it awake! You have—if I may use a metaphor–injected money with caffeine, Adderal, crack, meth, with LSD so that it can dance the crazy dance and grow a crazy thousand psychedelic feet tall in a rainbow minute! Money was a lazy b*tch, until you put it to work! And look how it works! …read more

Source: Hillary Clinton’s Full ‘Speech’ To Goldman Sachs

    

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White House Set To Release Secret Pages From Sept 11 Report

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By Tyler Durden

Over the past several weeks, the White House has been very vocal about its opposition to both the Bipartisan Bill that would allow families of Sept 11 victims to sue Saudi Arabia for its involvement in the WTC attack, as well as stonewalling when it comes to releasing the confidential “28 pages” that have been withheld from the Congressional inquiry report into 9/11 and which allegedly provide damning evidence about the the perpetrators of the worst terrorist attack on US soil.

As reported last weekend, none other than Saudi Arabia made its displeasure with any potential revelations quite public when it threatened it would sell up to $750 in US assets held by the kingdom should the White House allow more public scrutiny into Saudi involvement in Sept 11.

Perhaps in response to the spike in public interest following the resurgence to prominence of “Document 17”, Obama appears ready to make concessions. Recall that as we reported last week, according to a 47-page US memo known as document 17, written in 2003 and quietly declassified last year, the FBI learnt that the flight certificate of one of the Sept 11 pilots was in an envelope from the Saudi embassy in Washington.

Saudi Arabian embassy in Washington, AP Photo

And now, as AP reports this morning, the Obama administration will likely soon release at least part of a 28-page secret chapter from a congressional inquiry into 9/11 that may shed light on possible Saudi connections to the attackers.

The documents, kept in a secure room in the basement of the Capitol, contain information from the joint congressional inquiry into “specific sources of foreign support for some of the Sept. 11 hijackers while they were in the United States.”

Bob Graham, who was co-chairman of that bipartisan panel, and others say the documents point suspicion at the Saudis. The former Democratic senator from Florida says an administration official told him that intelligence officials will decide in the next several weeks whether to release at least parts of the documents. The disclosure would come at a time of strained U.S. relations with Saudi Arabia, a long-time American ally.

Tim Roemer, who was a member of both the joint congressional inquiry as well as the 9/11 Commission and has read the secret chapter three times, described the 28 pages as a “preliminary police report.”

“There were clues. There were allegations. There were witness reports. There was evidence about the hijackers, about people they met with — all kinds of different things that the 9/11 Commission was then tasked with reviewing and investigating,” the former Democratic congressman from Indiana said Friday.

Fifteen of the 19 hijackers were citizens of Saudi Arabia.

Naturally the Saudis are less than thrilled: its government says it has been “wrongfully and morbidly accused of complicity” in the attacks, is fighting extremists and working to clamp down on their funding channels. Still, the Saudis have long said that they would welcome declassification of the 28 pages because it would “allow us …read more

Source: White House Set To Release Secret Pages From Sept 11 Report

    

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Turkey’s Erdogan Goes Full-Dictator: Arrests Dutch Journalist For Critical Tweet

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By Tyler Durden

One month ago, we cited Turkey’s president Tayyip Recep Erdogan who said that “it is not only the person who pulls the trigger, but those who made that possible who should be defined as terrorists, regardless of their title,” when was urging parliament to include journalists, politicians, academics, and activists under the country’s anti-extremism laws.

Erdogan’s comments came a day after the latest in a string of suicide bombings ripped through Ankara, killing 34 and wounding more than 100 in Kizilay. Since then, Turkey has arrested nearly 50 people with “suspected ties” to the PKK against which Erdogan is waging a highly personal crusade.

However, Turkey’s President didn’t think parliament was moving fast enough on his “request” to expand the definition of “terrorist” because in a speech on Wednesday, he effectively instructed lawmakers to get moving before also urging parliament to deal with “the issue of immunities.

True to form, Erdogan didn’t wait on parliament to expand the “terrorist” definition before he went ahead and arrested three academics for “terrorist propaganda” after they made the mistake of publicly asking the government to stop the siege on Cizre and other cities in the predominantly Kurdish southeast.”

Then, when a British citizen who teaches at Bilgi University showed up at the courthouse to support the lawyers, he was also arrested. His crime, in his own words: “I am accused because I had several invitations to Kurdish new year (celebrations on March 21) published by the HDP – the third-largest party in the Turkish parliament – in my bag.”

It has gotten so bad, and Turks are so terrified of their despotic “leader” that two months ago, a Turkish truck driver literally sued his own wife for cursing at Erdogan when he spoke on television. “I warned her,” the man later said.

Understandably, the “developed world” (of which Turkey is supposedly part of) has repeatedly closed its eyes to Erdogan’s unprecedented human rights violations: after all Europe needs Turkey now more than ever to halt the mass flow of Syrian refugees within its borders or else virtually all ruling parties in Europe are threatened with being replaced in any upcoming elections. As such, if the country became a despotic tyranny under Erdogan, oh well: after all Europe has not only turned a blind eye to his dictatorial actions but also paid him billions of dollars to “halt” the flow of refugees… and he knows it.

However, this morning Erdogan may have finally gone too far following the arrest of a Dutch-Turkish journalist, Ebru Umar, who was detained early on Sunday at her home in Turkey for tweets deemed critical of the Turkish president according to her Twitter account.

“Police at the door. No joke,” wrote Ebru Umar, a well-known atheist and feminist journalist of Turkish origin.

Oké. Politie voor de deur timeline. Geen grap.

— Ebru Umar (@umarebru) April 23, 2016

IK BEN NIET VRIJ. IK MOET MEE NAAR HET ZIEKENHUIS

— Ebru Umar (@umarebru) April 23, 2016

According to <a target=_blank rel="nofollow" …read more

Source: Turkey’s Erdogan Goes Full-Dictator: Arrests Dutch Journalist For Critical Tweet

    

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Kim Jong Un Forces Starving North Koreans To Watch Gourmet Cooking Competition

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By Tyler Durden

One way to deal with bouts of projectile dysfunction is either to launch even more ballistic missiles, or just to call in a thousand of your country’s top cooks and have them make comfort food for you.

According to the Post, North Korean leader Kim Jong Un broadcast a “master chef” style competition to find the country’s top chef, as well as to gorge on food as millions of starving viewers looked on.

More than 1,000 people entered the competition, with the Pyongyang Times reporting: “The festival was comprised of the exhibitions of gastrological [sic] hits, famous and local special dishes and compulsory dishes and the technical contest and demonstration of top chefs and waiters and waitresses.

“The participants presented famous local and foreign dishes and specialties of their units and local areas.” The TV menu included some European dining options including pizza and spaghetti as well as a five-pheasant dish and “broccoli five ways.”

The ultimate arbiter of the food was the tubby tyrant, who by sampling the wares was one step closer to his esthetic ideal: according to defectors from the Communist country he is fattening himself up to look like his grandfather, Eternal President Kim Il-sung, who is still the reclusive county’s head of state despite having been dead since 1994.

And while young Kim was pointing and looking at machines that do “stuff” and deciding between five-pheasant dish and “broccoli five ways” or to go straight to desert, he conveniently forgot yet again that his country remains on the verge of a famine.

…read more

Source: Kim Jong Un Forces Starving North Koreans To Watch Gourmet Cooking Competition

    

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Is This The End Of The U.S Dollar? Geopolitical Moves "Obliterate U.S Petrodollar Hegemony"

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By Tyler Durden

Submitted by Mac Slavo via SHTFPlan.com,

It seems the end really is nigh for the U.S. dollar.

And the mudfight for global dominance and currency war couldn’t be more ugly or dramatic.

The Saudis are now openly threatening to take down the U.S. economy in the ongoing fallout over collapsing oil prices and tense geopolitical events involving the 9/11 cover-up. The New York Times reports:

Saudi Arabia has told the Obama administration and members of Congress that it will sell off hundreds of billions of dollars’ worth of American assets held by the kingdom if Congress passes a bill that would allow the Saudi government to be held responsible in American courts for any role in the Sept. 11, 2001, attacks.

China has been working for years to establish global currency status, and will strengthen the yuan by backing it with gold in moves clearly designed to cripple the role of the dollar. Zero Hedge reports:

China’s shift to an official local-currency-based gold fixing is “the culmination of a two-year plan to move away from a US-centric monetary system,” according to Bocom strategist Hao Hong. In an insightfully honest Bloomberg TV interview, Hong admits that “by trading physical gold in renminbi, China is slowly chipping away at the dominance of US dollars.”

Putin also waits in the shadows, making similar moves and creating alliances to out-balance the United States with a growing Asian economy on the global stage.

Luke Rudkowski of WeAreChange asks “Is This The End of the U.S. Dollar?” in the video below.

He writes:

In this video Luke Rudkowski reports on the breaking news of both China and Saudi Arabia making geopolitical moves that could cause a U.S economic collapse and obliteration of the U.S hegemony petrodollar. We go over China’s new gold backed yuan that cannot be traded in U.S dollars and rising tension with Saudi Arabia threatening economic blackmail if their role in 911 is exposed.

Visit WeAreChange.org where this video report was first published.

The Federal Reserve, Henry Kissinger, the Rockefellers and their allies created the petrodollar and insisted upon the world using the U.S. dollar to buy oil, placing debt in American currency and entire countries under the yoke of the West.

But that paradigm has been crumbling as world order shifts away from U.S. hegemony.

It is a matter of when – not if – these events will change the U.S. financial landscape forever.

As SHTF has warned, major events are taking place, and no one can say if stability will be here tomorrow.

Stay vigilant, and prepare yourself and your family as best as you can.

…read more

Source: Is This The End Of The U.S Dollar? Geopolitical Moves "Obliterate U.S Petrodollar Hegemony"

    

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Hybrid War Hyenas Are Tearing Brazil Apart

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By Tyler Durden

Authored by Pepe Escobar, Op-Ed via RT.com,

The gloomy and repulsive night when the female president of the 7th largest economy in the world was the prey of choice fed to a lynch mob of hyenas in a drab, provincial Circus Maximus will forever live in infamy.

By 367 votes for and 137 against, the impeachment/coup/regime change-light drive against Dilma Rousseff cleared the Brazilian Congressional circus and will now go to the Senate, where a “special commission” will be set up. If approved, Rousseff will then be sidelined for 180 days and a low-rent tropical Brutus, Vice-President Michel Temer, will ascend to power until the Senate’s final verdict.

This lowly farce should serve as a wake-up call not only to the BRICS but to the whole Global South. Who needs NATO, R2P (“responsibility to protect”) or “moderate rebels” when you can get your regime change just by tweaking a nation’s political/judicial system?

The Brazilian Supreme Court has not analyzed the merit of the matter – at least not yet. There’s no solid evidence anywhere Rousseff committed a “crime of responsibility”; she did what every American President since Reagan has done – not to mention leaders all across the world: along with her vice-president, the lowly Brutus, Rousseff got slightly creative with the federal budget’s numbers.

The coup has been sponsored by a certified crook, president of the lower house Eduardo Cunha; reportedly the holder of several illegal accounts in Switzerland, listed in the Panama Papers and under investigation by the Supreme Court. Instead of lording over near-illiterate hyenas in a racist, largely crypto-fascist circus, he should be behind bars. It beggars belief that the Supreme Court has not launched legal action against Cunha. The secret of his power over the circus is a gigantic corruption scheme lasting many years, featuring corporations contributing to his and others’ campaign financing.

And that’s the beauty of a regime change-light/color revolution of Hybrid War when staged in such a dynamically creative nation such as Brazil. The hall of mirrors yields a political simulacrum that would have driven deconstructionists Jean Baudrillard and Umberto Eco, if alive, green with envy; a Congress crammed with fools/patsies/traitors/crooks, some of whom are already being investigated for corruption, has conspired to depose a president who is not under any formal corruption investigation – and has not committed any “crime of responsibility”.

The neoliberal restoration

Still, without a popular vote, the massively rejected tropical Brutus twins, Temer and Cunha, will find it impossible to govern, even though they would perfectly incarnate the project of the immensely arrogant and ignorant Brazilian elites; a neoliberal triumph, with Brazilian “democracy” trampled down six feet under.

It’s impossible to understand what happened at the Circus Maximus last Sunday without knowing there’s a gaggle of Brazilian political parties that are seriously threatened by the non-stop overspill of the Car Wash corruption investigation. To ensure their survival, Car Wash must be “suspended”; and it will, under the bogus “national unity” proposed by lowly Brutus Temer.

But first, Car Wash must produce a high-profile scalp. …read more

Source: Hybrid War Hyenas Are Tearing Brazil Apart

    

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Beware The Bubble In China’s Domestic Commodity Market

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By Tyler Durden

price change

Via PandaHedge.com,

We just see another bubble building up in China, aka the domestic commodity market. On April 21st, led by bellwether Rebar Steel futures, other 7 commodities were lifted to the up limit (5% to 7%), including iron ore, HRC steel, met coal, asphalt, methanol, cotton, and egg (yes, it’s egg! No one has idea why even eggs go up together with other commodities). The endless money just flood everywhere in the domestic commodity market, especially for those lagged behind, and fundamentals do not matter here. The case of Rebar major contract RB1610 (settle in Oct 2016) can tell you how crazy the market is. On April 21st, RB1610’s trading volume is 22M contracts (equal to 220M tn of rebar steel), but China only produces 200M tn rebar in 2015 (China total steel production is around 850M tn per year). So the Chinese trades one year production volume for the underlying commodity in a single day, for a specific contract (Oct 2016) only!

Below is the YTD performace of the major commodities trading in the China domestic futures market.

The bulls talk about inflation trade, while the bears talk about deteriorating fundamentals. Apparently, both side speak in different languages, and in the short term, the side with stronger fire power (money) wins. The Shanghai Chaos Fund, which was famous for shorting big in copper in 2015, is reported to lose around $80M a day on April 20th as it holds 120k contracts short position in Rebar. One of its flagship funds, Chaos Value I which invests in A share and commodities, has declined 19% YTD.

We all know China created $1 tn credit in Q1 to stimuluate the economy, and apparently part of the money flows into the commodity market (the infamous A share equity market is deemed as “bear market” now and the speculators don’t even bother to trade there). As indicated by the chart below, the total China domestic commodity daily trading amount is RMB1.4tn per day in 2016 (YTD), compared to RMB1.1tn per day in 2015, a 27% increase. On Apirl 20th, its trading amount hits RMB2.9 tn, compared to the A share market’s RMB0.5tn amount.

Trading amount in Chinese domestic commodity market (value in RMB100M)

Seeing the great “opportunities” of the fantasty commodity bull markets, Chinese retails investors rush to the brokers to open new accounts. It’s reported that the new accounts number in April is double or triple of the normal days. Does it smell the same as 2015’s A share market?

But wait, the leverage in the commodities market (easily 10x) is much higher than that in the A share market (normally 2-4x). If the investors still remember the lesson in 2015, they should pay extra attention now. When the music stops, the collapse of price can be faster and steeper than the pace of going up. 2009 already showed us a real example in …read more

Source: Beware The Bubble In China’s Domestic Commodity Market

    

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One Reader Tried To Get A Transcript Of What Obama Said To Yellen; This Is What The Fed Replied

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By Tyler Durden

One month ago we showed something curious: literally, the very hour the market was hitting its February lows, Janet Yellen was on the phone with Bank of England governor (and former Goldman Sachs employee) Marc Carney, followed the very next day by a conversation with ECB president (and former Goldman Sachs employee) Mario Draghi.

One reader tried to get to the bottom of the content of these phone calls and sent a FOIA to the Fed in which he requested the audio file or any documentation of the nature of the telephone call between Yellen and Carney and, subsequently, Draghi.

The Fed’s response: a resounding “no”, for the following reason: “the responsive document contains nonpublic commercial or financial information” and while “the document containing the exempt information was reviewed… no reasonably segregable nonexempt information was found.” Case closed.

This came from the “most transparent Fed ever.”

A few days later, another very important and once again “behind closed doors” event took place: Yellen met with both Obama in the afternoon of April 10, just hours after the Fed held an emergency meeting under expedited procedures to discuss “rates.” That meeting too was confidential.

While clearly the detailed contents of the meeting would not be revealed, the White House was kind enough to issue the following three sentence summary:

The President and Chair Yellen met this afternoon in the Oval Office as part of an ongoing dialogue on the state of the economy. They discussed both the near and long-term growth outlook, the state of the labor market, inequality, and potential risks to the economy, both in the United States and globally. They also discussed the significant progress that has been made through the continued implementation of Wall Street Reform to strengthen our financial system and protect consumers.

This in turn came from the “most transparent administration ever.” Sarcasm aside, the above was far more “transparent” than what the Fed provided following Yellen’s meeting, which was nothing.

Which is why one reader decided to once again give it a try, and get to the bottom of what was said during the Yellen-Obama meeting asking for the minutes from said meeting.

The Fed’s response: “we don’t keep those.”

And that, dear readers, is how fully and thoroughly accountable to the public both the White House and the Federal Reserve truly are.

…read more

Source: One Reader Tried To Get A Transcript Of What Obama Said To Yellen; This Is What The Fed Replied

    

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Switzerland Readies Military In Preparation For A New Wave Of Migrants

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By Tyler Durden

According to The BBC, the most asylum claims in 2015 occurred in Germany, which saw >500,000…

With the main route (reportedly shut down) being from Turkey to Greece, and up through the Balkans…

With Syrians making up the bulk of migrants trying to enter Europe.

But now, in response to Balkan countries closing down traditional migrant routes to Europe, Switzerland's military is taking steps to prepare for a potential new wave of immigrants in case it becomes part of a new route.

As such, Switzerland has put together a formal emergency preparedness plan, which outlines three scenarios, one of which would call for military intervention.

The three scenarios outlined by the Swiss government are as follows:

Scenario 1: 10,000 applications for asylum in 30 days

Scenario 2: 10,000 requests a month for three consecutive months

Scenario 3: 30,000 entries in the space of a few days

The third scenario is a worst case situation that would call for 2,000 troops to be mobilized in order to secure the border and guard against terrorist threats. Being that it's also more than three times the number of immigrants that came into the country during the height of the Kosovo crisis in 1999 (which reached 9,600 a month), one can begin to understand the magnitude of the current situation.

From the release [Google translated]

Bern, 04.20.2016 – On 14 April, the Federal Department of Justice and Police (DJP), the Federal Department of Defence (VBS), the Federal Department of Finance (FDF) the cantons, cities and municipalities have set the reference values ??of a common emergency planning in the field of asylum. In this context, various measures have been agreed and planned. The Federal Council took note Wednesday and instructed the DDPS to take all necessary steps for the army to be able, where appropriate, to provide support to civil authorities, including the Corps of border guards (BGC) in accordance with the contingency planning.

For now, the Federal Council considers that such intervention is not necessary. With Wednesday's decision, it nevertheless provides power, if necessary, order quickly. According emergency planning of the Confederation, cantons, cities and municipalities, a military intervention would be necessary in scenario 3, that is to say, with 30 000 entries in the territory in space a few days. In scenario 1 (10 000 applications for asylum in 30 days) and Scenario 2 (10 000 requests a month for three consecutive months), the BGC may need to seek the support of the army in case of aggravating circumstances such a terrorist threat of considerable magnitude. Such scenarios have never produced in Switzerland. At the height of the Kosovo crisis, in June 1999, some 9,600 asylum applications were registered. The current figure for March 2016, is about 2,000 requests.

Operational mandates the DDPS: legal bases exist

Specifically, the Federal Council instructed the VBS Wednesday to ensure that, if necessary, military in 2000 are available for a support service in connection with the migration situation. All …read more

Source: Switzerland Readies Military In Preparation For A New Wave Of Migrants

    

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The ‘Terrorist iPhone’ Snow Job

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By Tyler Durden

Submitted by Adam Dick via AntiWar.com,

It all started so “harmless.” The Federal Bureau of Investigation (FBI) wanted to access the information of a person being investigated for mass murder so, the FBI said, it could try to prevent more terrorist attacks.

A couple months later this has morphed into a situation where the FBI is offering to help police departments across America access secured information of any electronic device connected to criminal investigations and where members of the United States Senate are moving forward with legislation to force technology companies to give the government access to secured, including via encryption, electronic devices information.

First, the FBI’s bumbled handling of an iPhone connected to a mass killing in San Bernardino provided an opening for the FBI to seek a precedent-setting court order to require Apple to assist the government in overcoming the phone’s security. Rather convenient, one might say, for a government agency determined to search and seize with the minimum possible constraint. Then, when Apple resisted the court’s order that was obtained ex parte (without Apple being afforded an opportunity to present its opposing arguments), the FBI dropped the case, claiming it found people who helped it bypass the iPhone’s security. This is after the FBI had told the magistrate judge that the FBI needed Apple’s help to accomplish the task.

Now, a “law enforcement source” has told CBS News that “so far nothing of real significance has been found” on the San Bernardino iPhone. This latest development should come as no surprise. There were plenty of indications early on that the San Bernardino iPhone likely had very little to no information that would be helpful for pursuing the mass murder investigation or for protecting people from any potential terrorist attack.

Jenna McLaughin summed up in a February 26 The Intercept article what seemed to be the FBI’s real motivation in seeking the court order: “It’s becoming increasingly clear that law enforcement doesn’t really think there’s any important data on San Bernardino killer Syed Rizwan Farook’s iPhone and that it has more precedent-setting value than investigative value.” McLaughlin then proceeds in her article to detail several reasons to believe there would be little to no investigative benefit gained from overcoming the iPhone’s security. Among other reasons, McLaughlin notes that the FBI already had “plenty of phone data, none of which indicated any overseas terror connection;” that the local police chief had said there was “a reasonably good chance that there is nothing of any value on the phone;” and that the iPhone was Farook’s employer-owned work phone that — unlike his laptop computer and two personal phones — he had not bothered to demolish.

The FBI’s effort to force Apple to overcome the San Bernardino iPhone’s security was never about one phone of one terrorist. Instead, it was about expanding the ability to overcome privacy protections of electronic devices via the courts after the executive branch had tried and failed in its effort to help bring through Congress legislation that …read more

Source: The ‘Terrorist iPhone’ Snow Job

    

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