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News of the Bogus:

• 0:25 – Private citizens pick up the slack as Detroit cuts public services http://dailycaller.com/2013/07/18/private-citizens-pick-up-the-slack-as-public-services-cut/
• 1:55 – Bradley Manning’s maximum sentence reduced to a possible 90 years http://www.theguardian.com/world/2013/aug/06/bradley-manning-sentence-reduced-90-years
• 4:32 – Father of foster child who died speaks to KVUE http://www.kvue.com/news/Father-of-murdered-foster-child-speaks-to-KVUE-218037541.html
• 6:25 – Exclusive – U.S. directs agents to cover up programme used to investigate Americans http://uk.reuters.com/article/2013/08/05/uk-dea-sod-idUKBRE9740HP20130805

10:10 – Biggest Bogon Emitter: Barack Obama (nominated by BlameThe1st) http://www.weeklystandard.com/blogs/obama-we-don-t-have-domestic-spying-program_745680.html

12:00 – Idiot Extraordinaire: Jillian Berman (nominated by Dave Turcotte) http://www.huffingtonpost.com/2013/08/07/rich-americans-hoarding-cash_n_3720941.html

• FRB: Interest on Required Balances and Excess Balances http://www.federalreserve.gov/monetarypolicy/reqresbalances.htm

This Week’s Quote: “Investors are not necessarily competing with one another, as though the investment markets were a ‘zero sum game.’ If they were, they’d have died out years ago—replaced by casinos that offered free drinks as you gamble.” —Harry Browne