Why the US needs to get rid of the federal reserve

The U.S. Federal Reserve has created plenty of controversy over the years. The office has the power to change the federal interest rate and influence many private banks. People on both sides of the aisle have moved to diminish the power of the Federal Reserve. That would prevent the Federal Reserve from interfering with the U.S. economy today. The supporters of that motion have introduced a lot of motions to prevent the Fed from conducting their own initiatives. Learn more about how the U.S. can end the federal reserve. That could change opinions and make the initiative a lot more popular with citizens today.

President Donald Trump made headlines when he claimed to have authority over the Federal Reserve. He issued a statement claiming that he could remove Chairman Jerome Powell from his office. Chairman Powell is scheduled to stay in office until 2022. But President Trump says that the Executive Office has the power to demote a sitting chairman. That would show that the U.S. Government still has authority over the Federal Reserve as of today. Critics are derailing the idea and questioning whether it is true. But President Trump is standing by his word and wants to make a move soon.

The Federal Reserve has changed the interest rate nine times since 2015. That includes seven rate hikes since 2017 as well. Chairman Powell has been responsible for four of these rate hikes during his tenure. Eliminating the Federal Reserve could be the next smart move for citizens to take. The Dow Jones has recently plunged by over 9000 points in the past month. That is an alarm bell for investors who want to see some economic progress. The Dow Jones is important and might signal a new economic era very soon. The Great Recession of 2008 could just be the first sign of problems too.

The Federal Reserve Act of 1913 has recently come under attack. That Act enabled the Federal Reserve to assume power over monetary growth in America. It gave the Federal Reserve the authority to create new money and increase inflation along the way. Some critics want to overturn that Act and return power to everyday citizens like us. That would restore power to the people and help change the way money is handled. A new Congressional Act or Supreme Court decision might be required for that to happen. But it also takes a lot of effort among those in the know as well.

Finally, citizens should think about the end of the Gold Standard. The Gold Standard ended on August 15th, 1971 in the United States. That removed ties between American dollars and the existing gold supply of the United States. Economists warn that the Gold Standard once kept inflation at bay in the United States. Restoring the Gold Standard would prevent the Fed from mishandling the dollar. It would eliminate Fiat currency and keep the Fed from just printing more money. The Gold Standard once protected the dollar and could be used again.

The Biggest Lawsuits Currently Pending Against Social Media Giant Facebook

The first popular Social Media Network was launched in 1997 and was called ‘Six Degrees’ and it was a simple website where users could upload pictures of each other and talk to other users. 3.484 billion people are now active on social media, a rise of 10% from the previous year. With 88% of 18 to 29-year-olds in America using social media, it is now an essential part of all young people’s life. However, social media is now a victim of its own success, with billions of users it is impossible for companies like Facebook and Twitter to hire enough employees to check every image, video and live stream being posted on their platform.

Currently, Washington D.C state is suing Facebook for allowing a private political consultancy company Cambridge Analytica to access to the data of millions of Facebook users without their permission. This litigation against Facebook may become a trend with other states in the United States and other countries in the world starting to sue Facebook which will put a lot of pressure on the social media platform financially due to the cost of defending itself in the courts but also the potential concessions they will need to give that will involve collecting fewer data. This will hurt Facebook as user data allows for advertisers on Facebook to target people more precisely which is why Facebook recorded $55 billion advertising revenues just in 2018.

But Facebook is not the only social media company to be sued, Twitter is currently being sued by Republican politician Devin Nunes for $250 million for “defamation, negligence and conspiracy” caused by user-generated content on the Twitter platform. This shows another issue with social media is that despite platforms not generating such content themselves they are hosting it, and its circumstances such as these when an individual feels like their image is being tarnished by false information the platforms get dragged into the courts too.

Apart from the Cambridge Analytica controversy, Facebook and other social media platforms have been in the spotlight for the wrong reasons after the Christchurch mosque shootings in New Zealand that saw the perpetrator livestream the whole shooting on Facebook for close to 20 minutes without the video being taken down, it was subsequently downloaded and shared all around the internet. This event has led former Facebook CEO Charmath Palihapitiya to say that Facebook should consider a livestreaming ban as it is too hard to regulate and stop if someone decides to do something against Facebook terms and services on the livestream. In March 2019, Mark Zuckerberg said that governments around the world should fund regulation of social media platforms like Facebook as it is too expensive for Facebook itself to hire enough staff to double check every new post on the platform. However, this raises questions about government surveillance and censorship.

Despite the countless faults of social media platforms, the majority of the issues apart from not asking users for permission to use their data are caused by the users. The success and popularity of all social media platforms are down to users having the freedom to post whatever they want without worrying about being censored. There will always be ‘a few bad apples’ but in order to have a free and open society, we cannot allow for one deranged white supremacist, for example, to prevent all the other hundreds of millions of law-abiding citizens from livestreaming.

How Trump’s Tariff Raises Are a Good Thing

It is crucial to understand the history of the two major world economies to find out how the president of the United States, Mr. Donald Trump is doing good by increasing tariff on imports from China and other countries. In an economic system, a benefit to one entity can be a disadvantage to another.

There are two characters which drive the world forward a leader and a challenger. Before the end of the cold war and dissolution of the USSR, there was a struggle between the United States and the Soviet Union to be called as the world leader.

After the 1991 dissolution, United States emerged as the world leader and no other country posed as a tough challenger to the supreme world power. As the Millenium began China which opened its door for the world market in late 20th century started making big leaps of growth and evolved as a challenger to the United States.

Being a leader of the world and the world’s richest country, the United States became less attractive as an investment destination as compared to China. The population dividend helped China in becoming one of the world’s cheapest manufacturing hub.

Those who understand economics know that as a country becomes rich, the growth rate slows down. Thus, China continues to be among the fastest growing economies whereas the growth rate of the United States has remained below 4% in the last one decade.

The 2009 sub-prime crises turned the thing worse for the United States. The growth rate went negative.

“What does a negative growth rate mean?”

Negative growth rate represents a decline in the gross domestic product of a country. Thus, the loss in earnings.

“What happens when a company earns less?”

The company recruits fewer or no people. Perhaps, it also reduces the hired staff to sustain in the market. It results in increased unemployment and further consequences are predictable.

The United States faced quite a similar situation in 2009, and it is still meeting the impact that your mind is mapping after reading the information provided above. On the other hand, cheap labor and abundance of raw materials are helping China to produce more, thus export goods to other countries.

The cheap labor and raw material make the goods produced in China far less expensive than the locally manufactured goods of some countries. The best example is a smartphone, a smartphone made in China excessively cheaper than a smartphone constructed in the US.

When Mr. Trump became the president of the US, the situation was the same as it is discussed above. Now he talks about ‘making America great again.’

“How?”

By securing the market of America for Americans.

He believes that other countries which trade with the US are not fair with their tariffs and trade rules.

China is a communist country. It is controlled centrally by one party. China has put a lot of restrictions on the
product and services supplied by international providers. The most popular limitation is the use of social media giant Facebook. Similarly, there are other Silicon Valley service providers who are not allowed by China in its territory.

While, on the other hand, the United States imports most of the hardware of the industry whose tech-giants are not allowed to carry out business in China.

The services sector is one example, the other industries are also biased towards China. Thus, the trade deficit that the US suffers is humongous, $375.2 billion in 2017.

In simple terms, the US doesn’t earn enough to balance trade with China. And, China is making huge profits.

Now, let us come again to the leader and challenger roles. If you were a leader, would you allow your challenger to take advantage of yourself?

Mr. Trump is doing the same. He doesn’twish to make policies that allow China to leverage inconsistency in the trade and pose as a threat to the dominance of the United States in the world.

Peter Schiff Calls For A Return To The Old Monetary Policy

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Productivity in the US economy has been sluggish this past quarter – it rose by only 0.4%, a minor improvement over the 0.3% in the last quarter of 2017. There isn’t a lot of discussion about a sluggish economy but according to Euro Pacific Capital CEO Peter Schiff, the monetary policies being pushed by the Fed to create “easy money” could have a damaging effect on our economy in the long-term.

The Federal Reserve is printing money to provide air for financial bubbles in real estate and stocks instead of genuinely supporting the real economy. According to Schiff, the Fed is trying to support the growth of the economy, at the risk of stifling legitimate economic growth that would help develop Main Street.

This is causing a phony recovery that is perfect for people who own a lot of stocks but does very little for anybody who works for a living. Wages have not kept pace with the rising cost of basic necessities and quite a number of people have lost full-time employment and are working part time; and this leaves them with a lot less purchasing power.

Inflation is a looming threat and if the Fed continues to dish out easy money, then its only a matter of time before we start to experience the pinch of modern inflation. According to Schiff, the flow of money will continue to expand, and one of the effects will be rising prices. Rising productivity levels might keep prices from rising too fast but not for long.

Should we return to the constitutional monetary policy?

Before President Nixon broke the dollar’s link with gold, every single dollar was backed by gold, and any central bank in the world could go to the Fed and present US dollars for gold (the value in 1971 was $35 for 1 ounce of gold). However, all this changed when the government reneged on the promise to back up our dollars with gold. Since then, our system of credit has been under the control of the Fed.

Without the backing of gold, the US dollar has been in decline in the ensuing 45 years and we’ve seen a lot of crises in the recent American economic history. Credit inflation has come about as a result of this change, and now as the Fed induces inflation, the average worker doesn’t realize that even if their wages rise, their salaries won’t purchase as much as they used to.

When prices of goods are measured in terms of a person’s income, we see that today’s incomes have risen much higher than they used to be. It demonstrates the fact that the blue collar worker – who’s also the backbone of the economy – has been falling behind since the late 1960s and the monetary mismanagement and failures of the Fed will only continue to create a rift between the wealthy upper class and the average Joe.

The US dollar has failed to serve as a unit of economic measure over the last few decades and this in itself is evidence of the negative impact resulting from the years of the Federal Reserve being shortsighted and serving up monetary policies that make life harder for most Americans. When inflation robs workers from the benefit of higher productivity, it’s still a form of inflation tax – and it’s bad for the economy.

The Growth of the Financial Technology Sector and What is Invoice Financing?

It’s a new wave of how things get done – how business solutions are found, handled, and executed for the betterment of potentially surging companies – asset based lending, invoice financing, is a unique platform that provides the ability to procure and access funds not initially available to businesses due to or because of lethargic payouts, thus making receivable funds through sales and exchange.

Invoice Financing is a painless venture that bolsters a wherewithal opportunity for businesses as a legitimate business solution and timely answer to a potential problem. Here’s how it can work: Prospective sellers can usually go online and register by providing the appropriate details of the business. This first part will include documents that support what the business is doing and is about.

Next, once qualified, the business will then be able to upload invoices through the platform provided by the host and then verification of invoices takes place; a discount rate is then set. Again, painless. From there investors can bid on the invoices and provide cash advances for needed businesses.

Once done, the seller will receive a cash advance within twenty-four hours – it really doesn’t get any simpler than that. Right? Painless platforms and simple solutions at hand, fingertips really, and ready.

With the struggle of cash flow that is systemic in SME’s, much needed innovations were a necessity before entities ultimately fell victim to debtors and the pain-staking slow drawl of receiving much needed revenue. Contactless payments and crypto currencies are examples of how technology is making financial services more efficient.

See, the problem that lies within SME’s is that they do not and cannot necessarily wait to be paid for a job in order to do a new job – that cash flow from a previous job or order, service or work, may be needed to procure the next. This is the rub of the situation, the hiccup to the financial strand of seamless revenue that hinders SME’s. Fortunately, financial technology has come along to aid where the normal and more common means of bank assistance consistently has fallen short, this is why whether it’s small business or an SME, services such as Trade Finance are an absolute necessity, it’s the best way for a business to improve their cash flow.

Banks are unwilling, and thus the growth of SME’s are either halted or stunted. Another potential source of revenue and cash flow is through crowdfunding and crowd sourcing. More and more companies, as well as individual entities, are turning to “funding” as a way of producing their product or offering their service.

Crowdfunding is an interesting combination of the old and new as the “old world” idea of a patron is meshed with the limitless capacity of the internet and online world/platforms to create a “crowd” that given the idea and product and possibility, may very well want to provide the means by which the venture comes to fruition.

That’s what this modern era is about – the openness of the free market and how there are so many vast and varied ways of finding the best financial solutions for business endeavours. The financial tech sector in general is a booming entity bustling with opportunity and potential – ways to improve matters of finance ranging from accruing monies to lending to investing – all ways that foster growth financially.

The Kim Dotcom Case: The Good, the Bad and the Neutral

The Kim Dotcom Case:

The Good, the Bad and the Neutral.

When the government declared that it will seize back its protections against net neutrality, many
were left confused and concerned about the future of the internet. The media coverage was vast.. Many were concerned and for good reason. Net neutrality allows for individuals to access information on the internet indiscriminately without having to worry about having their websites monitored by service
providers. When the news story of Kim Dotcom was released, it was not surprising to find that the Megaupload entrepreneur built his incredible fortune through copy infringement of movies and other entertainment outlets. Information about his properties and exclusive lifestyle were brought to the
light after it was found that he was arrested for the charges that were previously mentioned.

But I mean is it really surprising? In today’s modern times, it is not difficult to find and reproduce
content without the permission of the original content creator. The problem has always stemmed from our culture’s infatuation with obtaining the unreachable and seeking to have the latest technology, information and gadgets.

Removing net neutrality won’t make these problems go away, the only thing that it will succeed in doing
is providing people with an alarming sense of control. Which is exactly why Dotcom is seen as some kind of bold and audacious human being that has allowed us to have some of the things that for
one reason or another are unattainable for many of us. It’s like the fun uncle who wants to provide you with the sweets that you are rarely allowed to have.

Interesting enough, Dotcom is also amongst the super rich companies that influence the internet in
order to be and stay ahead of the competition. It is necessary to realize that this person is in many ways a part of the problem. He made easy money manipulating content in order to profit enormously from it. Excusing this kind of behavior for whatever reason only encourages others to do the same whether it’s internet rebels seeking to provide cheap goods to consumers or high end companies and businesses that seek to manipulate people into buying their products online.

Although Dotcom is adored by the public and held in high regard by many, the major media outlets
portray him as a calculating and highly intelligent person. His rich lifestyle and his ability to break the law has gained him much fame and speculation.

But neither speculation nor the end of net neutrality will fix the main issue here. It is important to
stop making our conversation about money and fame and focus on the bigger picture. We need to educate our social system and understand the consumers expectation. We need to refrain from seeking the easy way out and establish boundaries that protect the privacy of both the consumer and the seller. These boundaries will allow for a better quality of life online and in the outside world.

According to The Hill, net neutrality would have a huge impact on low income individuals as well as
minorties who depend on an open internet in order to facilitate aid to them whether it be healthcare access or activists websites that are just growing.

What is the future of shipping goods to customers?

Back in the nineteenth century, shipping took a long time. Mail shipped (quite literally in a ship) from the US could take up to 14 weeks to reach Europe, and the Atlantic crossing was subject to the vicissitudes of wind and weather. In addition, historians of this era have found that in general mail ships would take a fortnight longer to make any kind of long journey when compared to the more streamlined merchant ships. In sum, just 200 years ago, you would be waiting a very long time for any package.

Nowadays, the story is very different. Transatlantic airmail can take just 3 days in total, whilst many interstate services ship on a same day basis provided that the customer has ordered early enough in the morning. Streamlined freight routes, the powering of container ships using a combination of efficient technology and fossil fuels and (of course) the invention of aircraft for airmail have all contributed to this dramatic reduction in shipping times across the world. Shipping times have gone from weeks or months to days or even hours thanks to advancements in human technology. But what is the future of shipping goods to consumers? There may well be a few changes on the horizon.

Factors driving changes in shipping times and methods.

In 2016, we saw the first container shipping company to file for bankruptcy since 1986. This company was South Korea’s Hanjin Shipping. This is part of a wider pattern of decline in the container shipping industry, which is partly driven by environmental factors. Many recent articles have been published citing the statistic that 9 container shipping companies are responsible for most of the fossil fuel driven pollution in the world today. With the aviation and container shipping industries facing increasing pressure both from dedicated environmental groups and from ordinary consumers, many companies are seeking alternative shipping methods for their goods.

What does the future of shipping look like?

Many commentators believed that the advent of the internet would spell the end of conventional mail and shipping. Why would people post letters and mail each other packages when they could just communicate online, instead? These commentators were proved wrong: the lure of the handwritten letter or special birthday package remains as strong as it ever was and the web has facilitated a growth in the shipping industries as more and more people order goods online. As a result, advertising companies spent 13.9% more on direct mail in 2017 than they did in 2016. The future of shipping thus looks larger than ever before.

Shipping by drone?

Using large numbers of drones to ship goods to customers could be an excellent way to deal both with the increased demand for shipping and with the increased consumer desire for shipping services that are both efficient and eco friendly. It has recently become known that Amazon has been piloting a drone delivery scheme for some time now, and we could soon see it rolled out onto our streets.

De-centralization.

Another option to increase shipping efficiency and environmental friendliness in the future is one which is already being rolled out by companies such as Amazon. This scheme involves using several different warehouses dotted throughout a given region rather than relying on one central warehouse.

Are Saudi Arabian Women Catching Up in Equal Rights?

Saudi Arabian women can now drive. The fact that they were previously banned from getting a driver’s license sounds absolutely outrageous.

It came as a surprise when King Salman Abdul-Aziz Al Saud issued a decree saying women would be allowed behind the wheel starting June 2017. Interpretation to this unprecedented Royal decree is varied.

The oil rich state is governed by Islamic Sharia law which is in effect its constitution. A traditionally conservative stance has been the route used to curb women empowerment on many aspects of their daily life. For instance a female has to be in the company of a related male guardian or spouse when leaving the home.

Such laws, prohibitions and outright bans are passed and adhered to strictly. Violators face serious punishments for any breaches.

Law enforcement is there to ensure that strict codes are followed by women at all times. Incidences where a woman is found wanting in regards to this has some undesirable consequences. Religious police have been known to harass and even arrest offenders on sight.

With this repressive environment few women have dared to go defy these laws. Public shows of defiance are met with stern action where the perpetrator is in for detention or jail time depending on the incidence.

Social pressure

Saudi Arabia is seeking to change its image as one of the most regressive societies in the world. Human Rights Watch has been at the forefront of campaigning against the fundamental rights that its women are denied.

Change can be a strong motivation that can bear down on the society’s hardliner stance. As a product of many years of lobbying, public defiance and activism some headway has been realized.

Council of Senior Scholars

This flexibility was in part a product of Saudi Arabia’s highest religious group. Their viewpoint was that this ban had to be removed after much deliberation and consideration. Law making has to be in line with Sharia Law such that there is no inconsistency or violation. Thanks to this highly esteemed group, women will be allowed to transport themselves freely.

Economic drive

There are plenty of growth opportunities when prohibitive legislation on women has been lifted. Both genders are able to be work and support each other on the economic front. This could have been the impetus behind the change.

As the second largest oil producing nation in the world, it is an absolute pleasure to have heavily subsidized gasoline. Women will work towards owning their own car and get to enjoy the modern day privileges that people take for granted.

Equity and inclusion

Women’s right is a complex and layered issue in Saudi Arabia. Many of its prohibitive laws are not specifically encoded in religious texts. Interpretation by leaders and powerful conservative clerics is seen as the main challenge towards women empowerment.

Bold amendments such as the one laid out by the King form a precedent on which other future leaders will follow. There is so much yet to be addressed but thankfully advancements such as these are very much appreciated at home and across the borders.

When you want to divorce, mediation or arbitration but can’t afford it

Divorce is one of the harsh realities that many couples face these days. According to statistics, about 50 percent of marriages end up in divorce. However, divorce is not cheap and so many couples choose to stay together even when they could be better apart. If you are such a pair, then you should know that you have options.

The high cost of divorce

Divorce costs are not always exorbitant. A few factors will determine the cost of a divorce. For example how complicated your divorce case is and any support costs. By support costs, I mean for things like mediators and other experts. Ideally the more you and your spouse can agree on the faster your divorce and the less it will cost. So it’s recommended that you sit down like adults and come to an agreement on issues such as alimony, custody of children and property distribution before you visit the lawyers.

However, even if you are prepared some people just don’t have the money to undergo a divorce. The option is to stay together with a spouse you do not care about under the same roof. When you no longer have feelings for a spouse, it is torture living with them, and you almost always end up quarreling a lot. It’s better to explore other options of leaving each other apart from divorce or mediation that will set you free from each other.

Some of the choices you have apart from divorce or mediation are;

Separation

You can separate from your spouse without any legal intervention such as filing for divorce proceedings or using mediation. It is an ideal way of getting away from each other without paying for divorce lawyers and other experts. It’s simple but requires a lot of maturity between you and your spouse.

Separation works best when you have little to fight for in your marriage. It means you have no property, children or spousal support to fight for and you just want to go your separate ways. Also, it will work in the case of adults that can choose to stay apart, divide any assets amicably and peacefully decide on how to parent the children. It works well in the peaceful ending of a marriage where a couple accepts the end of the marriage and decides to work with each other for a smooth transition.

While separation is simple, it comes with some loopholes. You are still legally married in the eyes of the law. So you still have to meet the legal obligations of a married couple and may be liable for anything your partner does even if you live separately. So you have to pool together to make it work.

Undergoing a separation can also help you to move towards a divorce gradually. Some couples separate for a few years and then divorce. During the time they are separated, they can move on with their lives, improve their finances and get used to living apart from each other such that by the time they divorce it’s easy. It ends up costing so much less than if they divorced off the bat.

Get an occupancy order

However, separation is not for all couples. With some, there is too much acrimony to harmoniously separate. In such a case, one can ask for an occupancy order. This order works best in abusive marriages. A man or woman undergoing abuse in a marriage can opt for an occupancy order.

An occupancy order is a court order or injunction that can help you get your abusive spouse out of the home and away from you and the children. The offended party can get the court to sanction their living in the family home with the children and ensure that the abusive spouse stays away. When you are eligible for an occupancy order, your spouse can also be imposed on by the court to meet their obligations such as maintenance of home and children.

The good thing about an occupancy order is that if you are eligible for it, you can get it without your spouse. The court considers your safety away from your abusive partner. However, you need to give evidence of your abuse and the effects on the children. If the court determines that you need protection from your spouse they give the order.

You get a copy of the occupation order for you, and another copy for your estranged spouse.The injunction comes into play immediately the abusive spouse personally receives it. However, an occupancy order can only last for a maximum of a year.You can renew the order if necessary once it expires.

DIY DIVORCE

You can also do your divorce. In such a case you have to be in agreement with your estranged spouse and willing to work amicably to be apart. A DIY divorce works well with couples that have already successfully separated for some time. Such a pair already has every detail outlined in the separation agreement. So you save money you would otherwise have to spend with lawyers coming to an agreement on property and custody.

It also works for couples that have straightforward finances or have nothing to share or have custody over. Such couples can divorce without any lawyers. However, for purposes of making sure you get everything right you should at least get a meeting with a specialist lawyer to get advice.

You will typically find discounted representation on offer when looking for online divorce documents to get your divorce done. Your goal is to ensure you cover all financial loopholes so that neither of you can come later to make any financial claims on the other. Then you get divorce papers that you fill and submit to the court.

The only loophole is that DIY divorces can go wrong and you have to then look for a lawyer to correct mistakes. So, only choose the DIY divorce option over a regular divorce if you can do it properly without errors. Start by closing any joint finances and getting separate accounts. Outline how you will handle taking care of children.

If you live together, make sure you set out the rules of occupancy where you respect each other’s boundaries. Freeze any debts and clear them. Place a freeze on home equity as well so that your spouse cannot get a second mortgage on the home as you sort things out.

These are three ways you can get away from a failed marriage without the heavy expenses of divorce or mediation.

About A Famous Hacking Related Legal Case

Computer hackers are unauthorized users who break into computer systems in order to steal, change or destroy information, often by installing dangerous malware without your knowledge or consent. Their clever tactics and detailed technical knowhow enable them to get access to personal information and classified data in most cases.

Many cases of computer breaches often lead to agonizing legal battles but the most outstanding one according to my knowledge is the case of Kevin Poulsen alias “Dark Dante” who hacked into a federal computer network in 1988 and started digging around in files for the investigation of Filipino President Ferdinand Marcos, who was known for running a corrupt, undemocratic regime and then fled to the US. This wasn’t Kevin’s first hack of the federal system, but as they, his 40th day had just arrived.

Kevin had infiltrated the FBI systems exposing classified information, took over all telephone lines of L.A Radio and eavesdropped on communication, thereby intercepting calls and rewarding himself with prices meant for would be winners of a TV talk show. For 18 months, he managed to stay underground and performed his deeds with FBI hot in his pursuit.

Kevin and his gang were so daring that they even appeared on live talk shows impersonating the real winners in the show. This they did by wiretapping calls meant for winners and subsequently appearing for price collection. From this alone, they managed to falsely acquire Porsche sport cars, holiday vocations and cash prices worth 20,000 dollars. Little did he know that exposing himself on the television will be his major undoing.

Eventually, he was arrested in a mall after being positively identified and taken in for prosecution. During his prosecution, the FBI prevailed upon the courts to continue holding him without bail for five years in a federal prison while they put their case together.

When they finalized piecing together all the evidences, everybody thought that Kevin was starring at a long jail term ahead, however the FBI could only manage lesser charges of money laundering and wire fraud, dropping some of the serious hacking charges which were initially listed. He was sentenced to “time served” and released, but was barred from touching a computer for three years.

Kevin Poulsen reformed and became a respected journalist after his encounter with the federal authorities. He is a now a renowned writer on computer security and occasionally contributes in Wire Magazine. His transformation from a black hat to a white hat hacker enabled him to help the same federal authorities to arrest pedophile offenders on MySpace who were trolling on underage girls.

Kevin Poulsen also helped in designing and developing SecureDrop, an open source application that enabled secure end to end communication between journalists and sources. He donated the platform to Freedom of the Press Foundation which he later joined.

The most intriguing aspect of Paulsen’s story is how he reformed and started creating computer security awareness among vulnerable users. It may be prudent for any government throughout the world to reform these hackers for better cause.