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FBI Wins Lawsuit Forcing Apple To Install Spyware On iPhone Devices

The FBI have won a lawsuit that will force Apple to develop security software designed to override encryption security features embedded in the iPhone.  The court decision was arrived at utilizing an old antidemocratic law from the 18th century – allowing the government to expand its police-state powers of surveillance on American citizens.

Frontrunning: February 19

  • Stocks knocked back as oil rally falters (Reuters)
  • Still no deal for Britain on EU reforms after all-night talks (Reuters)
  • Oil Falls Near $30 as Rising U.S. Crude Stockpiles Expand Glut (BBG)
  • PBOC to Raise Reserve Ratios for Banks That Don't Meet Criteria (BBG)
  • China’s Top Securities Regulator to Step Down (WSJ)
  • Excessive loosening of China's monetary policy would increase yuan pressure (Reuters)
  • Tough road for Venezuela after dire data, inadequate measures (Reuters)

Futures Sink To Session Lows, Europe Slides Following Chinese RRR Hike Confusion, Brexit Concerns

Not even this morning's mandatory European open ramp has been able to push US equity futures higher, and as a result moments ago the E-mini hit session lows on rising concerns about Brexit as talks drag on in Brussles, but mostly as a result of overnight confusion about China's loan explosion and whether the PBOC has lost control over its maniacally-lending banks.

Crypto-Wars Escalate: Congress Plans Bill To Force Companies To Comply With Decryption Orders

Seemingly angered at the temerity of Apple's Tim Cook's defense of individual's privacy and security, Congress has escalated the 'crypto-wars' that are dividing Washington and Silcon Valley. In its most directly totalitarian move yet, WSJ reports that Senate Intelligence Committee Chairman Richard Burr (R., N.C.) is working on a proposal that would create criminal penalties for companies that don’t comply with court orders to decipher encrypted communications.

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