“Most Americans have felt the pain of inflation in recent years. However, what they don’t often see is that inflation also erodes financial privacy. The Financial Crimes Enforcement Network (FinCEN) adjusts its penalties for inflation, but it does not adjust reporting thresholds. In the most egregious case, the $10,000 reporting threshold now used for currency transaction reports (CTRs) has not been changed since the number was first established in 1945 by an executive order. That’s equal to around $180,000 today. When the Bank Secrecy Act was ultimately passed in 1970, you could buy two new Corvettes for $10,000. Today, you could spend all of that on just the engine. In practice, that means the Bank Secrecy Act regime is swallowing up more transactions every year as inflation decreases the value of the dollar. No bills are passed; no regulations are open to the public. Yet, the wheel is turning, and financial surveillance increases without any checks or balances.” (06/01/26)
“A United States court of appeals has ruled that a policy under President Donald Trump to expel transgender troops from the military was a violation of the Constitution. But Monday’s decision was a split one among the three-judge panel of the US appeals court for the District of Columbia. One judge, Robert Wilkins, an appointee of former Democratic President Barack Obama, upheld a lower court ruling rejecting the Trump administration’s policy as it pertains to already enlisted service members. A second judge – Judith Rogers, who was picked by former Democratic President Bill Clinton – agreed with his opinion, but only in part. She felt it should extend to those who seek to enlist, too. And the third judge, Trump pick Justin Walker, issued a dissent questioning the court’s ability to second-guess US military policy.” (06/01/26)
“The Justice Department issued a statement Monday saying it will abide by a district judge’s ruling last week that ordered the temporary freezing of the Trump administration’s $1.8 billion ‘Anti-Weaponization Fund.’ The statement came amid reports that the administration was backing away from the controversial fund. … Both Senate Majority Leader John Thune and Minority Leader Chuck Schumer said Monday that they not only want the White House to drop the fund, but also provide assurances that it won’t be revived later. … The judge in the Eastern District of Virginia had only ordered the department to temporarily freeze the fund, and barred it from making any payments while the judge considered legal arguments in a lawsuit brought against the fund. President Donald Trump, speaking with ABC News'[s] Jonathan Karl on Monday, said he will respect the court’s ruling.” (06/01/26)
Source: Foundation for Economic Education
by Walter Block
“If you are in sync with meddlesome government bureaucrats, you probably believe that price gouging is profoundly evil. That charging higher prices than normal, especially during emergencies, is an economic abomination. That any seller who does this is taking advantage of people who are in precarious economic circumstances. When a storm hits, or a flood, or a tornado, heavy snow, ice, the closing of the Hormuz Strait, many of us will be without gas for our car, food, medical help, or other such necessities. Yet we face jacked-up prices to fulfill these needs. Just when we need them the most, these things are more expensive. To anyone who doesn’t understand basic economics, this seems outrageous and unfair. But to those who do understand supply and demand, it makes sense.” (06/01/26)
“Nigerian politician Peter Obi said he would run for president again in January after winning his party’s nomination, setting up another contest between incumbent Bola Tinubu and a divided opposition. Obi was declared winner of the Nigeria Democratic Congress primary on Sunday, less than a month after quitting an alliance that had tried to set up a single opposition challenger. The acceptance from Obi — who came third in the last election after galvanizing young voters — hit hopes among some opposition backers that he might return to the coalition. It prepares the ground for a re-run of 2023’s three-way contest that is likely to test whether public anger over rising living costs and insecurity can translate into votes against Tinubu, or whether the anti-government vote will once again be split.” (06/01/26)
“The common thread is that the hardest problems, those involving scale, complexity, or speed beyond human capacity, are exactly those where computation, AI, sensors, and biotech tend to have the most leverage.” (06/01/26)
“Strategy has sold some of its Bitcoin holdings. It marks the first time that the crypto treasury firm led by Executive Chairman Michael Saylor has sold any Bitcoin in four years. A regulatory disclosure shows that Strategy sold 32 Bitcoin over the past week for proceeds of $2.5 million U.S. The amount is small considering that Strategy owns more than 840,000 Bitcoin but is still significant as it suggests potentially larger sales in coming weeks and months. Strategy is under pressure to fund dividend payments on its high-yielding preferred stoc, which currently yields 11.5%. Already sinking, Bitcoin fell below $72,000 U.S. on news of Strategy’s sale.” (06/01/26)
