Archive - Jul 20, 2013

It wasn't exactly like rubbing salt into the wounds of a US population that over the past month has learned it has no electronic communication privacy left, but it was close, when last night the US government's Office of the Director of National Intelligence announced that it was granting the secret FISA court - the same 11 people who decide behind closed doors whose email, phone or browser history is of national interest and thus subject to further "examination" - an extension of its telephone surveillance program. This is one of the two data surveillance efforts by the US (in conjunction with all major private telecom and internet companies) that Snowden leaked about. Why do we know this? Because the Obama administration is suddenly serious about being the most transparent ever: "The ODNI said in a statement it was disclosing the renewal as part of an effort at greater transparency following Snowden's disclosure of the telephone data collection and email surveillance programs." In short: "we will continue spying, but at least we are fully transparent about it."

Overview of currency market outlook.