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A couple of years ago, an “80 percent” receiver I purchased refused to accept parts, let alone chamber and fire cartridges, until my son and I drilled and milled it to completion; that’s because unfinished firearms are not firearms. For a long time, the Bureau of Alcohol, Tobacco, Firearms, and Explosives (ATF) agreed. But, pressured by the Biden administration, the ATF tried to extend firearms regulations to a lot of things that aren’t guns but could, with work, become one. Now a federal judge is injecting some sense, ruling in a lawsuit that bureaucrats can’t just decide that inert objects are guns.

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Δ Feds Change the Rules on Gun Hobbyists

For years, through a page still on its website, federal gun regulators assured the public that “ATF has long held that items such as receiver blanks, ‘castings’ or ‘machined bodies’ in which the fire-control cavity area is completely solid and un-machined have not reached the ‘stage of manufacture’ which would result in the classification of a firearm.” That’s good sense unless you look forward to background checks and government scrutiny every time you visit the hardware store where all sorts of items that could be turned into guns are sold. It also gave guidance to companies that serve firearms hobbyists by selling unfinished receivers (the regulated part of firearms) and other components to people who build their own firearms using traditional workshop tools or high-tech computer numerical control (CNC) machines and 3D printers.

But everything that can be used can be misused. Anti-gun activists built those misuses into a moral panic over “ghost guns” based on a lot of florid language. Their efforts are self-defeating since DIY gunmaking gained popularity specifically as a means of rendering gun control unenforceable. But that didn’t stop authoritarian policymakers, and the Biden administration went all-in on efforts to inconvenience DIY hobbyists in the name of stopping “ghost guns.” The result was a hot mess of a rule change that would expand firearms regulation on the ATF’s say-so without any legislation. That left legal analysts agreeing on little except that the agency gave its own people wide discretion and that lawsuits were inevitable. The ATF Can’t Just Make Things Up, Now or In the Past

One of those lawsuits, VanDerStok v. Garland, brought by Jennifer VanDerStok, Blackhawk Manufacturing Group, and other plaintiffs, has now resulted in a loss for the federal government. On July 5, building on a preliminary injunction issued last year, Judge Reed O’Connor of the U.S. District Court for Northern Texas wrote that the “Final Rule was issued in excess of ATF’s statutory jurisdiction” and the “Definition of ‘Frame or Receiver’ and Identification of Firearms…is hereby VACATED.”

Reed gave his reasoning days earlier, on June 30, in his memorandum opinion.

“A part that has yet to be completed or converted to function as frame or receiver is not a frame or receiver,” O’Connor wrote. “ATF’s declaration that a component is a ‘frame or receiver’ does not make it so if, at the time of evaluation, the component does not yet accord with the ordinary public meaning of those terms.”

Elsewhere in the opinion, Judge O’Connor rejected the ATF’s astonishment that any court could take issue with the agency’s arbitrary reclassification of inert items as firearms.

“Defendants offer several classification letters in which ATF previously determined that a particular component was (or was not) a ‘firearm’ for purposes of the [Gun Control Act of 1968] based on the item’s stage of manufacture,” O’Connor chided the feds. “But historical practice does not dictate the interpretation of unambiguous statutory terms. The ordinary public meaning of those terms does. If these administrative records show, as Defendants contend, that ATF has previously regulated components that are not yet frames or receivers but could readily be converted into such items, then the historical practice does nothing more than confirm that the agency has, perhaps in multiple specific instances over several decades, exceeded the lawful bounds of its statutory jurisdiction.”

In other words: Thank you for this evidence that you have repeatedly exceeded your authority!

“We’re thrilled to see the Court agree that ATF’s Frame or Receiver Rule exceeds the agency’s congressionally limited authority,” commented Cody J. Wisniewski, who represented the plaintiffs in this case as counsel for the Firearms Policy Coalition (FPC). “With this decision, the Court has properly struck down ATF’s Rule and ensured that it cannot enforce that which it never had the authority to publish in the first place.”

“With this effort to rewrite federal regulations, Biden tried to make countless individuals criminals,” agreed plaintiff’s co-counsel Mountain States Legal Foundation. “But Mountain States and FPC sued, and argued that the rule was illegal, on behalf of Jennifer VanDerStok, Mike Andren, and Tactical Machining. Our winning argument was that the ATF exceeded its authority, as outlined by Congress.” It’s Not Over Yet (But the Control Freaks Are Doomed)

As strong a decision as this is, it’s at the district level and can be expected to run the gauntlet up the judicial food chain before being ultimately decided one way or the other. The U.S. Department of Justice has already filed a notice of appeal in the case as well as an emergency motion for stay to try to keep the rule in effect while litigation continues. Clearly, the feds fear losing control of the situation.

But, as mentioned above, governments lost control long ago. DIY gunmaking became popular as a deliberate effort to evade draconian laws. Then 3D printing and CNC machines helped make DIY gunmaking that much simpler. After the ATF released its restrictive new rules regarding unfinished receivers, the industry, led by Ghost Gunner, moved to “zero-percent” blocks of material to be finished by hobbyists (In June, Reason TV interviewed Cody Wilson, who brought us Ghost Gunner as well as 3D-printed firearms).

There are also the rapidly growing ranks of gun owners to consider. Driven by the social tensions of recent years, gun sales rose to record levels and came to encompass Americans who didn’t adhere to traditional stereotypes of white, rural conservatives. “Liberal, female and minority: America’s new gun owners aren’t who you’d think,” CNN headlined a story last September.

Researchers say that these new gun owners are even more protective of their privacy than those who came before them. That leaves anti-gun politicians to wonder if they can still assume their constituents are as unlikely to be directly harmed by gun restrictions as in the past; elected officials love using legislation to lash out at perceived enemies, but pushing punitive laws that hurt your own base is no way to win reelection.

For now, Judge O’Connor’s decision in VanDerStok v. Garland is a small but significant win in an ongoing dispute between pro-liberty activists and control freaks who want to disarm the public. But no matter how the legal battles shake out, advocates of control effectively lost the war long ago. Many people are working to ensure that, no matter what government officials want, guns will remain in private hands.

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Sports

The lesson of Pete Rose and ‘Shoeless’ Joe? History is messy.

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The lesson of Pete Rose and 'Shoeless' Joe? History is messy.

Now that Major League Baseball commissioner Rob Manfred has removed Pete Rose, “Shoeless” Joe Jackson and other deceased players from the game’s “permanently ineligible list,” whatever former stars deemed deserving based on their on-field accomplishments should, at first opportunity, be inducted into the Hall of Fame.

In a bombshell, if long overdue, reversal of policy, first reported by ESPN’s Don Van Natta Jr. on Tuesday, Manfred removed bans for Rose (who bet on games while managing the Cincinnati Reds) and members of the 1919 Chicago White Sox (who fixed the World Series), among others.

After all, banishment was meaningless once they all had died — a life sentence, if you will, for whatever their transgression. Most died decades ago and were on the list for gambling-related offenses.

“Obviously, a person no longer with us cannot represent a threat to the integrity of the game,” Manfred wrote in a letter to the attorney who petitioned for Rose.

The only remaining purpose of the ban was to keep them from the immortality of being inducted into Cooperstown, which bills itself officially as the “National Baseball Hall of Fame and Museum.”

The last word is the most important.

Museums exist to tell about history, and history is always messy — including in sports. They shouldn’t be solely designed for the sanitized, establishment-approved version of events, or allow outside considerations to overshadow actual accomplishments. They certainly shouldn’t serve as part of some carrot-and-stick approach to desired behavior.

Should Rose and the others have done what they did? Of course not. Should they have been subject to any potential criminal or civil recourse for their actions? Absolutely. Was MLB within its rights to suspend or punish them in other ways? Definitely.

Rose, for example, should never have been allowed to work in baseball again after it was determined he bet on the Reds to win games while he was the manager.

But that doesn’t mean his record 4,256 hits, his three World Series titles, his MVP award (1973), his 17 All-Star appearances (including when he barreled over catcher Ray Fosse in the 1970 game), his “Charlie Hustle” nickname, or that epic head-first slide — shown so many times on “This Week in Baseball” that a generation of kids either crushed their chests or chipped their teeth trying to emulate it — didn’t occur.

So did his gambling scandal, a 1990 guilty plea for filing false tax returns that cost him five months in a federal prison and a 2017 sworn statement from a woman that he had committed statutory rape back in the 1970s, an allegation for which he was never criminally charged. Throughout his life, he could be indefensibly crude, difficult and confrontational.

It’s all part of the story of Pete Rose.

So let him in, then tell the good, the bad and the ugly so the public can decide what to think. This is the Baseball Hall of Fame, not the pearly gates. It’s about a nice day in central New York State with your family, complete with a gift shop.

If the museum is there to tell the history of the sport, well, how do you do it without Pete Rose? If Hall of Fame induction is reserved for the greatest players, then how could Rose not be among them? His foolishness as a manager shouldn’t have eclipsed his impact as a player.

This is where baseball’s policy was always wrong. It used the prospect of barred entry to the Hall as a deterrence. That isn’t what a museum should be about. The risk of criminal charges, lost wages from suspension and general shame should be enough. If it isn’t, so be it.

Manfred isn’t ready to release those still living from the ineligible list. He’s clinging to the concept of scaring current players straight. “It is hard to conceive of a penalty that has more deterrent effect than one that lasts a lifetime with no reprieve,” he wrote in the letter.

Perhaps, but should that be the point?

The Hall is already filled with assorted louts, drunks and racists who just happened to be able to either hit or throw a baseball really well. So what? Their personal disgrace is part of their history.

In fairness, their personal failings didn’t affect baseball the way Rose might have as a managerial gambler, and certainly not as the Black Sox did back in the day.

Still, there are owners and commissioners in the Hall who worked for decades to stop baseball from racial integration. That’s a far more widespread impact on the integrity of the game than betting on your team to beat the Dodgers.

Yes, sports wagering is always a concern and was once a major taboo. But public opinion and business realities changed. There are sportsbooks inside MLB stadiums these days, including, for a stretch, with Rose’s old team in Cincinnati.

History is history. The game is the game. The museum is the museum. Tell the story, the whole story, with all the best players and best teams and best tales, no matter how colorful, criminal or regrettable.

America can handle it. Our real national pastime is scandal, after all.

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Business

Burberry to cut 1,700 jobs after multi-million pound loss

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Burberry to cut 1,700 jobs after multi-million pound loss

Burberry, the UK’s only global luxury brand, is to cut around 1,700 jobs worldwide over the next two years after reporting a steep financial loss.

The company lost £66m in pre-tax profit in the year ended in March as luxury goods sales fell across the world and the company weathered an “uncertain” environment and a “difficult macroeconomic backdrop”.

A year earlier, it recorded £383m in profit.

Money blog: £30 broadband rule explained

It’s suffered in recent years with the share price falling to such an extent the business was removed from the FTSE 100, the index of most valuable companies listed on the London Stock Exchange.

Despite the financial performance, the company was upbeat, with chief executive Joshua Schulman saying “I am more optimistic than ever that Burberry’s best days are ahead and that we will deliver sustainable profitable growth over time”.

What cuts are being made?

More on Retail

The retailer did not specify any shop closures – in the past year, it closed 26 and also opened 26 stores – but did highlight shift cuts and consolidations.

“We don’t have a store closing programme, per see,” Mr Schulman told investors

The night shift at Burberry’s Castleford factory will be cut, it proposed, saying the shift has resulted in overproduction.

“Significant” investment in the facility will be made, however, as the ambition is to scale up British production “over time”, Mr Schulman said.

Changes to the retail network across the world will be made with shop staff being scheduled around “peak traffic”.

Burberry will be “realigning” shop staff, he said, “so that we can offer the best service” at the busiest times.

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There will also be a “simplification” of Burberry’s regional structure and a “rebalancing” of central and regional responsibilities to reduce duplication and “accelerate decision making” through the retail network.

But the majority of changes will be made to “office space teams” around the world, the CEO said.

Commercial and creative teams have already been consolidated, Burberry’s annual results said.

What’s gone wrong?

Aside from the global slowdown in luxury goods sales over recession fears, additional headwinds have come in the form of President Trump’s tariffs.

“Clearly, the external environment has become more challenging since mid-February”, Mr Schulman told investors.

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Trump’s tariffs: What you need to know

Tariff risks were higher than first planned, the annual results said.

It led the US market to be described by Mr Schulman as “choppy” since February when Mr Trump began announcing tariffs on Mexico, Canada and China, as well as on goods such as steel and cars.

Sales also fell in the Asia Pacific region by 16%, the results showed.

Criticism was levelled at the 2021 British government decision to withdraw VAT refunds for overseas visitors, “which has made the UK the least competitive destination in Europe for tourist shopping”, the results read.

“Business in our UK home market continues to be seriously impacted” by the move.

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Politics

Bitcoin more of a ‘diversifier’ than safe-haven asset: Report

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Bitcoin more of a ‘diversifier’ than safe-haven asset: Report

Bitcoin more of a ‘diversifier’ than safe-haven asset: Report

Bitcoin’s fluctuating correlation with US equities is raising questions about its role as a global safe-haven asset during periods of financial stress.

Bitcoin (BTC) exhibited a strong negative correlation with the US stock market when analyzing the short-term, seven-day trailing correlation, according to new research from blockchain data provider RedStone Oracles, shared exclusively with Cointelegraph.

Bitcoin more of a ‘diversifier’ than safe-haven asset: Report
Bitcoin, S&P 500, 7-day rolling correlation. Source: Redstone Oracles

However, RedStone said that the 30-day indicator signals a “variable correlation” between Bitcoin price and the S&P 500 index, with the correlation coefficient ranging from -0.2 to 0.4.

This fluctuating correlation suggests that Bitcoin “doesn’t consistently function as a true hedge for equities” due to its lack of a strong negative correlation below -0.3, which is needed for “reliable counter movement during market stress,” the report said.

Bitcoin more of a ‘diversifier’ than safe-haven asset: Report
Bitcoin, S&P 500, 30-day rolling correlation, 1-year chart. Source: Redstone Oracles

Related: $1B Bitcoin exits Coinbase in a day as analysts warn of supply shock

The research suggests that while Bitcoin may not be a dependable hedge against stock market declines, it offers value as a portfolio diversifier.

This fluctuating dynamic signals that Bitcoin often moves independently from other assets, potentially offering additional returns while other assets are struggling. Still, Bitcoin has yet to mirror the safe-haven dynamics of gold and government bonds, RedStone suggests.

Related: Nasdaq-listed GDC plans to buy Bitcoin and TRUMP memecoin for $300M

Bitcoin needs to “mature” before decoupling from stock market

While Bitcoin is poised to grow into a safe-haven asset in the future, the world’s first cryptocurrency still needs to “mature” as a global asset, according to Marcin Kazmierczak, co-founder and chief operating officer at RedStone.

“Bitcoin still needs to mature before decoupling from stock markets,” Kazmierczak told Cointelegraph, adding:

“Increased institutional adoption will absolutely help — we’re already seeing this effect with corporate treasury investments reducing Bitcoin’s 30-day volatility and with BlackRock repetitively praising BTC as an asset in a portfolio.”

Meanwhile, Bitcoin will see growing recognition as a portfolio diversifier, with an annualized return of over 230% for the past five years, which “significantly outperformed” both stocks and traditional safe-haven assets, Kazmierczak said, adding that “even a small 1–5% Bitcoin allocation can meaningfully enhance a portfolio’s risk-adjusted returns.”

Bitcoin more of a ‘diversifier’ than safe-haven asset: Report
Source: Vetle Lunde

Meanwhile, Bitcoin’s declining volatility supports BTC’s growing maturity as a global financial asset. Bitcoin’s weekly volatility hit a 563-day low on April 30, a development that may signal more stable price action.

Bitcoin’s price volatility fell below the realized volatility of the S&P 500 and the Nasdaq 100, signaling that investors are increasingly treating Bitcoin as a long-term investment vehicle, Cointelegraph reported on May 13.

Magazine: Uni students crypto ‘grooming’ scandal, 67K scammed by fake women: Asia Express

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