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Gary Edwards

Jim Kunstler's 2014 Forecast - Burning Down The House | Zero Hedge - 0 views

www.zerohedge.com/...14-forecast-burning-down-house

Banksters

shared by Gary Edwards on 08 Jan 14 - No Cached
  • Gary Edwards on 08 Jan 14
     
    Incredible must read analysis. Take away: the world is going to go "medevil". It's the only way out of this mess. Since the zero hedge layout is so bad, i'm going to post as much of the article as Diigo will allow: Jim Kunstler's 2014 Forecast - Burning Down The House Submitted by Tyler Durden on 01/06/2014 19:36 -0500 Submitted by James H. Kunstler of Kunstler.com , Many of us in the Long Emergency crowd and like-minded brother-and-sisterhoods remain perplexed by the amazing stasis in our national life, despite the gathering tsunami of forces arrayed to rock our economy, our culture, and our politics. Nothing has yielded to these forces already in motion, so far. Nothing changes, nothing gives, yet. It's like being buried alive in Jell-O. It's embarrassing to appear so out-of-tune with the consensus, but we persevere like good soldiers in a just war. Paper and digital markets levitate, central banks pull out all the stops of their magical reality-tweaking machine to manipulate everything, accounting fraud pervades public and private enterprise, everything is mis-priced, all official statistics are lies of one kind or another, the regulating authorities sit on their hands, lost in raptures of online pornography (or dreams of future employment at Goldman Sachs), the news media sprinkles wishful-thinking propaganda about a mythical "recovery" and the "shale gas miracle" on a credulous public desperate to believe, the routine swindles of medicine get more cruel and blatant each month, a tiny cohort of financial vampire squids suck in all the nominal wealth of society, and everybody else is left whirling down the drain of posterity in a vortex of diminishing returns and scuttled expectations. Life in the USA is like living in a broken-down, cob-jobbed, vermin-infested house that needs to be gutted, disinfected, and rebuilt - with the hope that it might come out of the restoration process retaining the better qualities of our heritage.
Paul Merrell

Russia's SWIFT Response operational by May 2015 | nsnbc international - 0 views

nsnbc.me/...sponse-operational-by-may-2015

war & peace banksters Russia U.S.-foreign-policy SWIFT

shared by Paul Merrell on 27 Dec 14 - No Cached
  • The Central Bank of Russia (CBR), on Friday, admitted domestic banks to the Russian alternative to the international SWIFT banking system. Domestic banks can access the system after signing agreements with the Central Bank. The Russian alternative to the SWIFT system is expected to be fully developed and operational by May 2015.
  • The Central Bank of Russia issued a statement saying that the new service would allow credit institutions to transmit SWIFT-format messages through the Bank of Russia in all regions within the Russian Federation without restrictions. The CBR added that the new service had been established to ensure continuous and secure transmissions of financial messages inside the country. The decision to create the domestic alternative to the SWIFT system was made against the backdrop of EU proposals in September, to disconnect Russia from the international SWIFT system as part of the sanctions against Russia over the situation in and about Ukraine. Several U.S. Senators lobbied in support of the measure. Moscow responded by drafting an alternative to the Brussels-based SWIFT system by creating a Russian alternative non-governmental inter-bank communication system.
  • The Russian Tass news agency reported that the Society for Worldwide Interbank Financial Telecommunications (SWIFT) transmits 1.8 billion transactions per year, remitting payment orders worth $6 trillion a day. Disconnecting Russia from the SWIFT system, as proposed by certain EU members in September, would not only harm the Russian economy. Disconnecting Russia from the SWIFT system before an alternative is operational would also create substantial problems for Russia’s main trading partners within the EU, which include Germany, Italy and France.
  • Paul Merrell on 27 Dec 14
     
    The BRICS bloc gains its own interbank transactions alternative to the SWIFT system, courtesy of U.S. sanctions and threats thereof. Do the Russians ever tire of playing chess against idiots?
Paul Merrell

It Can Happen Here: The Confiscation Scheme Planned for US and UK Depositors - 0 views

www.informationclearinghouse.info/article34442.htm

banksters confiscation financial-collapse FDIC

shared by Paul Merrell on 29 Mar 13 - No Cached
  • Confiscating the customer deposits in Cyprus banks, it seems, was not a one-off, desperate idea of a few Eurozone “troika” officials scrambling to salvage their balance sheets. A joint paper by the US Federal Deposit Insurance Corporation and the Bank of England dated December 10, 2012, shows that these plans have been long in the making; that they originated with the G20 Financial Stability Board in Basel, Switzerland (discussed earlier here); and that the result will be to deliver clear title to the banks of depositor funds.  
  • Although few depositors realize it, legally the bank owns the depositor’s funds as soon as they are put in the bank. Our money becomes the bank’s, and we become unsecured creditors holding IOUs or promises to pay. (See here and here.) But until now the bank has been obligated to pay the money back on demand in the form of cash. Under the FDIC-BOE plan, our IOUs will be converted into “bank equity.”  The bank will get the money and we will get stock in the bank. With any luck we may be able to sell the stock to someone else, but when and at what price? Most people keep a deposit account so they can have ready cash to pay the bills.
  • The 15-page FDIC-BOE document is called “Resolving Globally Active, Systemically Important, Financial Institutions.”  It begins by explaining that the 2008 banking crisis has made it clear that some other way besides taxpayer bailouts is needed to maintain “financial stability.” Evidently anticipating that the next financial collapse will be on a grander scale than either the taxpayers or Congress is willing to underwrite, the authors state: An efficient path for returning the sound operations of the G-SIFI to the private sector would be provided by exchanging or converting a sufficient amount of the unsecured debt from the original creditors of the failed company [meaning the depositors] into equity [or stock]. In the U.S., the new equity would become capital in one or more newly formed operating entities. In the U.K., the same approach could be used, or the equity could be used to recapitalize the failing financial company itself—thus, the highest layer of surviving bailed-in creditors would become the owners of the resolved firm. In either country, the new equity holders would take on the corresponding risk of being shareholders in a financial institution.
  • ...7 more annotations...
  • No exception is indicated for “insured deposits” in the U.S., meaning those under $250,000, the deposits we thought were protected by FDIC insurance. This can hardly be an oversight, since it is the FDIC that is issuing the directive. The FDIC is an insurance company funded by premiums paid by private banks.
  • If our IOUs are converted to bank stock, they will no longer be subject to insurance protection but will be “at risk” and vulnerable to being wiped out, just as the Lehman Brothers shareholders were in 2008.  That this dire scenario could actually materialize was underscored by Yves Smith in a March 19th post titled When You Weren’t Looking, Democrat Bank Stooges Launch Bills to Permit Bailouts, Deregulate Derivatives.  She writes: In the US, depositors have actually been put in a worse position than Cyprus deposit-holders, at least if they are at the big banks that play in the derivatives casino. The regulators have turned a blind eye as banks use their depositaries to fund derivatives exposures. And as bad as that is, the depositors, unlike their Cypriot confreres, aren’t even senior creditors. Remember Lehman? When the investment bank failed, unsecured creditors (and remember, depositors are unsecured creditors) got eight cents on the dollar. One big reason was that derivatives counterparties require collateral for any exposures, meaning they are secured creditors. The 2005 bankruptcy reforms made derivatives counterparties senior to unsecured lenders.
  • One might wonder why the posting of collateral by a derivative counterparty, at some percentage of full exposure, makes the creditor “secured,” while the depositor who puts up 100 cents on the dollar is “unsecured.” But moving on – Smith writes: Lehman had only two itty bitty banking subsidiaries, and to my knowledge, was not gathering retail deposits. But as readers may recall, Bank of America moved most of its derivatives from its Merrill Lynch operation [to] its depositary in late 2011. Its “depositary” is the arm of the bank that takes deposits; and at B of A, that means lots and lots of deposits. The deposits are now subject to being wiped out by a major derivatives loss. How bad could that be? Smith quotes Bloomberg:
  • . . . Bank of America’s holding company . . . held almost $75 trillion of derivatives at the end of June . . . . That compares with JPMorgan’s deposit-taking entity, JPMorgan Chase Bank NA, which contained 99 percent of the New York-based firm’s $79 trillion of notional derivatives, the OCC data show. $75 trillion and $79 trillion in derivatives! These two mega-banks alone hold more in notional derivatives each than the entire global GDP (at $70 trillion).
  • Are you safe, then, if your money is in gold and silver? Apparently not – if it’s stored in a safety deposit box in the bank.  Homeland Security has reportedly told banks that it has authority to seize the contents of safety deposit boxes without a warrant when it’s a matter of “national security,” which a major bank crisis no doubt will be.
  • Another alternative was considered but rejected by President Obama in 2009: nationalize mega-banks that fail. In a February 2009 article titled “Are Uninsured Bank Depositors in Danger?“, Felix Salmon discussed a newsletter by Asia-based investment strategist Christopher Wood, in which Wood wrote: It is . . . amazing that Obama does not understand the political appeal of the nationalization option. . . . [D]espite this latest setback nationalization of the banks is coming sooner or later because the realities of the situation will demand it. The result will be shareholders wiped out and bondholders forced to take debt-for-equity swaps, if not hopefully depositors.
  • President Obama acknowledged that bank nationalization had worked in Sweden, and that the course pursued by the US Fed had not worked in Japan, which wound up instead in a “lost decade.”  But Obama opted for the Japanese approach because, according to Ed Harrison, “Americans will not tolerate nationalization.” But that was four years ago. When Americans realize that the alternative is to have their ready cash transformed into “bank stock” of questionable marketability, moving failed mega-banks into the public sector may start to have more appeal.
ashkif as

5th International Meeting on Traditional & Alternative Medicine - 0 views

www.portalmarkets.com/...44378.html

international meeting alternative alternative medicine medicine

shared by ashkif as on 03 Dec 18 - No Cached
  • ashkif as on 03 Dec 18
     
    5th International Meeting on Traditional & Alternative Medicine scheduled on April 22-23, 2019 at Rome, Italy. The theme of Traditional Medicine congress is Exploring New Horizons in Traditional & Alternative Medicine. Traditional Medicine Meeting will provide a broad range of academic disciplines in natural product which will be emphasized from the discovery of natural products from natural sources through the clinical uses to attract researchers that are contributing in the field of tr...
Paul Merrell

Big Media's Contra-Cocaine Cover-up - Consortiumnews - 0 views

consortiumnews.com/...medias-contra-cocaine-cover-up

fake-news-propaganda debunking Contra-cocaine-scandal Gary-Webb

shared by Paul Merrell on 09 Dec 16 - No Cached
  • Special Report: Twelve years ago, a campaign of character assassination by the major U.S. newspapers drove an honest journalist to suicide. Now those papers claim to be paragons of truth-telling, says Robert Parry. By Robert Parry Amid the mainstream U.S. media’s current self-righteous frenzy against “fake news,” it’s worth recalling how the big newspapers destroyed Gary Webb, an honest journalist who exposed some hard truths about the Reagan administration’s collaboration with Nicaraguan Contra cocaine traffickers. Webb’s reward for reviving that important scandal in 1996 – and getting the CIA’s inspector general to issue what amounted to an institutional confession in 1998 – was to have The New York Times, The Washington Post and Los Angeles Times lobby for, essentially, his banishment from journalism.
  • The major media pile-on was so intense and so effective that Webb lost his job at the San Jose Mercury-News and could never find regular work in his profession again. Betrayed by his journalistic colleagues, his money gone, his family broken and his life seemingly hopeless, Webb committed suicide on Dec. 9, 2004. Even then, the Los Angeles Times wrote up his obituary as if the paper were telling the life story of an organized-crime boss, not a heroic journalist. The Times obit was then republished by The Washington Post. In other words, on one of the most significant scandals of the Reagan era, major newspapers, which now want to serve as the arbiters of truth for  the Internet, demonstrated how disdainful they actually are toward truth when it puts the U.S. government in a harsh light.
  • Indeed, if it had been up to the big newspapers, this important chapter of modern history would never have been known. A decade earlier, in 1985, Brian Barger and I first exposed the Contra-cocaine connection for The Associated Press – and we watched as the big papers turned their backs on the scandal then, too. The main point that Webb added to the story was how some of the Contra cocaine fed into the production of crack-cocaine that had such a devastating effect on America’s black communities in particular. Webb’s disclosure of the crack connection infuriated many African-Americans and the big papers acted as if it was their civic duty to calm down those inner-city folks by assuring them that the U.S. government would never do such a thing. So, instead of doing their jobs as journalists, the major newspapers acted as the last line of defense against the people learning the truth.
  • Paul Merrell on 09 Dec 16
     
    Big media's drive to discredit alternative news sites is setting off a raft of coverage in the alternative news scene about big media false reporting and cover-ups.
Gary Edwards

REVEALING QUOTES ON THE GOALS OF PSYCHIATRY AND PSYCHOLOGY - 0 views

www.psychquotes.com

psychquotes psychiatry psychiatric

shared by Gary Edwards on 29 Aug 13 - No Cached
  • Psychiatry's Views on Conservatives "In August 2003, the National Institute of Mental Health (NIMH) and the National Science Foundation (NSF) announced the results of their $1.2 million taxpayer-funded study. It stated, essentially, that traditionalists are mentally disturbed. Scholars from the Universities of Maryland, California at Berkeley, and Stanford had determined that social conservatives, in particular, suffer from ‘mental rigidity,’ ‘dogmatism,’ and ‘uncertainty avoidance,’ together with associated indicators for mental illness."
  • Psychiatry's Views on Education "Every child in America entering school at the age of five is insane because he comes to school with certain allegiances to our founding fathers, toward our elected officials, toward his parents, toward a belief in a supernatural being, and toward the sovereignty of this nation as a separate entity. It’s up to you as teachers to make all these sick children well – by creating the international child of the future"
  • Teaching school children to read was a "perversion" and high literacy rate bred "the sustaining force behind individualism."
  • ...59 more annotations...
  • You see, one of the effects of self-esteem (Values Clarification) programs is that you are no longer obliged to tell the truth if you don’t feel like it. You don’t have to tell the truth because if the truth you have to tell is about your own failure then your self-esteem will go down and that is unthinkable."
  • The social psychologist of the future will have a number of classes of school children on whom they will try different methods of producing an unshakable conviction that snow is black. Various results will soon be arrived at: first, that influences of the home are 'obstructive' and verses set to music and repeatedly intoned are very effective ..
  • When the technique has been perfected, every government that has been in charge of education for more than one generation will be able to control its subjects securely without the need of armies or policemen."
  • "…through schools of the world we shall disseminate a new conception of government – one that will embrace all of the collective activities of men; one that will postulate the need for scientific control and operation of economic activities in the interests of all people."
  • "Education does not mean teaching people to know what they do not know – it means teaching them to behave as they do not behave." 
  • "This is the idea where we drop subject matter and we drop Carnegie Unites (grading from A-F) and we just let students find their way, keeping them in school until they manifest the politically correct attitudes.
  • "I regard myself as one of the most dangerous enemies of religion" Sigmund Freud
  • "Education is thus a most power ally of humanism, and every public school is a school of humanism. What can the theistic Sunday school, meeting for an hour once a week, and teaching only a fraction of the children, do to stem the tide of a five-day program of humanistic teachings?"
  • "Despite rapid progress in the right direction, the program of the average elementary school has been primarily devoted to teaching the fundamental subjects, the three R’s, and closely related disciplines… Artificial exercises, like drills on phonetics, multiplication tables, and formal writing movements, are used to a wasteful degree. Subjects such as arithmetic, language, and history include content that is intrinsically of little value. Nearly every subject is enlarged unwisely to satisfy the academic ideal of thoroughness… Elimination of the unessential by scientific study, then, is one step in improving the curriculum."
  • "We can therefore justifiably stress our particular point of view with regard to the proper development of the human psyche, even though our knowledge be incomplete. We must aim to make it permeate every educational activity in our national life…. We have made a useful attack upon a number of professions. The two easiest of them naturally are the teaching profession and the Church: the two most difficult are law and medicine."
  • "...a student attains 'higher order thinking' when he no longer believes in right or wrong"
  • "A large part of what we call good teaching is a teacher´s ability to obtain affective objectives by challenging the student's fixed beliefs.  …a large part of what we call teaching is that the teacher should be able to use education to reorganize a child's thoughts, attitudes, and feelings."  
  • "Education should aim at destroying free will so that after pupils are thus schooled they will be incapable throughout the rest of their lives of thinking or acting otherwise than as their school masters would have wished
  • Psychiatry's Views on Religion "Religion (is) a universal obsessional neurosis." Sigmund Freud, defining spiritual belief
  • "The educational system should be a sieve, through which all the children of a country are passed. It is highly desirable that no child escape inspection."
  • "The soul or consciousness, which played the leading part in the past, now is of very little importance; in any case both are deprived of their main functions and glory to such an extent that only the names remain. Behaviorism sang their funeral dirge while materialism – the smiling heir – arranges a suitable funeral for them.
  • "…humanists still believe that traditional theism, especially faith in the prayer-hearing God, assumed to love and care for persons, to hear and understand their prayers, and to be able to do something about them, is an unproved and outmoded faith." "
  • "We can therefore justifiably stress our particular point of view with regard to the proper development of the human psyche, even though our knowledge be incomplete. We must aim to make it permeate every educational activity in our national life…. We have made a useful attack upon a number of professions. The two easiest of them naturally are the teaching profession and the Church: the two most difficult are law and medicine."
  • We shall not solve the problems of alcoholism and juvenile delinquency by increasing a sense of responsibility. It is the environment which is 'responsible' for the objectionable behavior, and it is the environment, not some attribute of the individual, which must be changed.
  • Psychiatry's Views on Creating a Slave Society "We can choose to use our growing knowledge to enslave people in ways never dreamed of before, depersonalizing them, controlling them by means so carefully selected that they will perhaps never be aware of their loss of personhood."
  • Teaching school children to read was a "perversion" and high literacy rate bred "the sustaining force behind individualism."
  • "It will of course, be understood that directly or indirectly, soon or late, every advance in the sciences of human nature will contribute to our success in controlling human nature and changing it to the advantage of the common wheel." Edward Thorndike, Key Psychology Theorist, member of the "Eugenics Committee of the USA"
  • "We need a program of psychosurgery for political control of our society. The purpose is physical control of the mind. Everyone who deviates from the given norm can be surgically mutilated.
  • The individual may think that the most important reality is his own existence, but this is only his personal point of view. . . Man does not have the right to develop his own mind. . . . We must electronically control the brain. Someday armies and generals will be controlled by electronic stimulation of the brain." 
  • "Education should aim at destroying free will so that after pupils are thus schooled they will be incapable throughout the rest of their lives of thinking or acting otherwise than as their school masters would have wished
  • "One of the least understood strategies of the world revolution now moving rapidly toward its goal is the use of mind control as a major means of obtaining the consent of the people who will be subjects of the New World Order."
  • "Those of us who work in this field see a developing potential for nearly a total control of human emotional status, mental functioning, and will to act. These human phenomena can be started, stopped or eliminated by the use of various types of chemical substances. What we can produce with our science now will affect the entire society." A "utopia" could be found – providing "a sense of stability and certainty, whether realistic or not."
  • "To achieve world government, it is necessary to remove from the minds of men their individualism, loyalty to family traditions, national patriotism and religious dogmas..."
  • Some packages even include instructions on how to deal with parents and others who object. Stripping away psychological defenses can be done through assignments to keep diaries to be discussed in group sessions, and through role-playing assignments, both techniques used in the original brainwashing programs in China under Mao. Thomas Sowell, writing in Forbes, 1991
  • "The State is the absolute reality and the individual himself has objective existence, truth and morality only in his capacity as a member of the State." Hegel (who influenced Karl Marx)
  • Psychiatry's Views on America "America is a mistake, admittedly a gigantic mistake, but a mistake nevertheless." Sigmund Freud America is the most grandiose experiment the world has seen, but, I am afraid, it is not going to be a success. Sigmund Freud
  • "To achieve world government, it is necessary to remove from the minds of men their individualism, loyalty to family traditions, national patriotism and religious dogmas...
  • "One of the least understood strategies of the world revolution now moving rapidly toward its goal is the use of mind control as a major means of obtaining the consent of the people who will be subjects of the New World Order."
  • Freud on Marxism "The strength of Marxism obviously does not lie in its view of history or in the prophecies about the future which it bases upon that view, but in its clear insight into the determining influence which is exerted by the economic conditions of man upon his intellectual, ethical and artistic reactions." Sigmund Freud
  • Basically, all that is necessary to revoke all the constitutional rights of any citizen is to accuse him of being mentally-ill."
  • John A. Stormer, "None Dare Call it Treason"
  • "Old conventions, customs and values… to be challenged… The aim should be to control not only nature, but human nature." He recommended two slogans for "spreading world-wide the gospel of mental hygiene": "To learn to think internationally" and "The necessity to disarm the mind." Dr. J.R. Lord, psychiatrist
  • "Public life, politics and industry should all of them be within our sphere of influence…. If we are to infiltrate the professional and social activities of other people I think we must imitate the Totalitarians and organize some kind of fifth column activity!  If better ideas on mental health are to progress and spread we, as the salesmen, must lose our identity… Let us all, therefore, very secretly be ‘fifth columnists.’"
  • The techniques of brainwashing developed in totalitarian countries are routinely used in psychological conditioning programs imposed on school children.
  • These include emotional shock and desensitization, psychological isolation from sources of support, stripping away defenses, manipulative cross-examination of the individual’s underlying moral values by psychological rather than rational means. These techniques are not confined to separate courses or programs...they are not isolated idiosyncracies of particular teachers. They are products of numerous books and other educational materials in programs packaged by organizations that sell such curricula to administrators and teach the techniques to teachers.
  • "If all else fails, punishable behavior may be made less likely by changing physiological conditions. Hormones may be used to change sexual behavior, surgery (as in lobotomy) to control violence, tranquilizers to control aggression, and appetite depressants to control overeating." Harvard psychologist B.F. Skinner in "Beyond Freedom and Dignity"
  • We must learn to recognize them for what they are - possessors of no special knowledge of the human psyche, who have, nonetheless, chosen to earn their living from the dissemination of the myth that they do indeed know how the mind works". Psychiatrist Garth Wood, M.D., in "The Myth of Neurosis", 1986
  • These terms indicate only approval or disapproval of some aspect of a person's mentality (thinking, emotions, or behavior). Psychiatrist E. Fuller Torrey, in "The Death of Psychiatry", 1974
  • "The very term ['mental disease'] is nonsensical, a semantic mistake. The two words cannot go together except metaphorically; you can no more have a mental 'disease' than you can have a purple idea or a wise space". Similarly, there can no more be a "mental illness" than there can be a "moral illness." The words "mental" and "illness" do not go together logically. Mental "illness" does not exist, and neither does mental "health."
  • By calling the harmless 'insane', (who statistics prove to be no more violence-prone than the average citizen, unless hopelessly deranged by damaging psychiatric 'treatment'), dangerous and justifying their own existence by the 'need' to deal with that inflated 'danger', the mad-doctors themselves pose the greatest threat to liberty, property and democracy in our times."
  • Citizens for Higher Ethical Standards in Medicine
  • "Mental illness is often used as an ad homonym to discredit the individual. This has been a common use of psychiatric diagnosis in psychiatry in Russia. " ... there are two main groups [of schizophrenia patients] ... 1) people admitted to the mental hospital long before they had been political dissenters ... 2. others who ... have put forward complex social and economic theories as alternatives to orthodox Marxism..."  Wing, cited in "Pseudoscience in Psychology", by Dr. Szasz, p. 126
  • "It is no measure of health to be well adjusted to a profoundly sick society.." J. Krishnamurti
  • "...the subject which will be of most importance politically is Mass Psychology.... The populace will not be allowed to know how its convictions were generated. When the technique has been perfected, every government that has been in charge of education for a generation will be able to control its subjects securely without the need of armies or policemen. As yet there is only one country which has succeeded in creating this politician’s paradise."   The Impact of Science on Society by Bertrand Russell
  • "A Trojan horse full of dangerous psycho-fantasies has been professionally prepared for us by Christian psychiatrists and psychologists...  At the base, such therapies stand upon dogma, not scientific observations, and the dogma is the odious one of Freud and his followers who were some of the century's most anti-Christ teachers.  No amount of well-intentioned refinement of deadly doctrines will make them clean for Christians." Dr. Hilton P. Terrell, M.D
  • "Contrary to the popular public conception, this happenstance is NOT a form of health care, but the result of a fraudulent system being granted police powers by the State.
  • "Psychotherapy may be known in the future as the greatest hoax of the twentieth century."
  • "Nearly half a century has passed since Watson proclaimed his manifesto. Today, apart from a few minor reservations, the vast majority of psychologists, both in this country and in America, still follow his lead. The result, as a cynical onlooker might be tempted to say, is that psychology, having first bargained away its soul and then gone out of its mind, seems now, as it faces an untimely end, to have lost all consciousness." 
  • "Advocates of psychiatric drugs often claim that the medications improve learning and the ability to benefit from psychotherapy, but the contrary is true.  There are no drugs that improve mental function, self-understanding, or human relations.  Any drug that affects mental processes does so by impairing them."
  • "In the 14-year period between 1950 and 1964, more American deaths occurred in state and county mental institutions than in all of the nation's armed conflicts beginning with the Revolutionary War and ending with the Persian Gulf War.  Between 1965 and 1990, the total number of mental-hospital inpatient deaths exceeded the number of battle deaths in the same wars by 70 percent.  Inpatient deaths topped out at 1,103,000 during this 25-year period, compared with 650,563 recorded deaths in battles."
  • Kelly Patricia O’Meara: "The Forgotten Dead of St. Elizabeth's", Insight Magazine, June 16, 2001
  • "The similarities between street drug abuse and psychotropic prescription drug use are disturbing. Both types are toxic. Both can cause psychosis, damage the brain and other organs, and even cause death. And neither type of mind-altering drugs, legal or illegal, treats disease. It's important to recognize that the only significant difference between many prescription psychotropic drugs and street drugs such as "speed" and "downers" is that prescription drugs are legal."
  • Neuro-psychiatrist Sydney Walker in "Dose of Sanity"
  • "Clearly this business of treating minds, particularly this big business of treating young minds, has not policed itself, and has no incentive to put a stop to the kinds of fraudulent and unethical practices that are going on."
Gary Edwards

Larry Summers and the Secret "Bankster End Game" Memo : http://goo.gl/wDhDhL - 1 views

news.google.com/?ar=1379450048

banksters Larry-Summers Federal-Reserve-Bankster-Cartel financial-collapse

shared by Gary Edwards on 17 Sep 13 - No Cached
  • Gary Edwards on 17 Sep 13
     
    Diigo is screwing up the URL AGAIN!!!!! WTF!!! The correct title is "Larry Summers and the Secret "End-Game" Memo :: http://goo.gl/wDhDhL From the marbux treasure trove of truth we have financial expert Greg Palast describing how the Banksters engineered the 2008 World Financial Collapse. Greg names names, sighting an important 1997 memo signed by then Deputy Treasury Secretary, Larry Summers. The memo describes the Banksters "end game", and authorizes pulling the trigger on a process of forcing the world's financial institutions to accept the game of derivative roulette where high risk financial schemes and casino bets had to be accepted as "financial assets". Good story and as from everything I know, the absolute truth. Read it carefully because these same Banksters control the Obama Administration and seek to continue the great shakedown. One item of note is the recent resignation of Larry Summers as Obama nominee to head the Federal Reserve Bankster Cartel. Summers is one of the architects of the 2008 financial collapse, but is seen be Wall Street as hesitant to continue with the current Bernake flooding of the money markets with $85 Billion per month in freshly minted paper. Even the hint of rolling back the Bankster bailout a bit is enough to do in Summers. alternative Fed Banster Czar Janette Yellin promises to up the $85 Billion monthly bailout, and Wall Street celebrated with a near doubling of trades. We're so screwed! We started the "Socialism and the End of the American Dream" Diigo group in September of 2008 as an effort to understand the financial collapse. In this short article, Greg Palast summarizes the story and places the important facts on the table for all to see. Pray with me for his health and safety. excerpt: "The year was 1997.  US Treasury Secretary Robert Rubin was pushing hard to de-regulate banks.  That required, first, repeal of the Glass-Steagall Act to dismantle the barrier between commercial ba
  • Paul Merrell on 18 Sep 13
     
    Related link: Summers Withdraws From Consideration for Fed Chairmanship, http://www.bloomberg.com/news/2013-09-15/obama-said-he-accepted-summers-decision-to-withdraw-his-name.html
  • Gary Edwards on 19 Sep 13
     
    From the marbux treasure trove of truth we have financial expert Greg Palast describing how the Banksters engineered the 2008 World Financial Collapse. Greg names names, sighting an important 1997 memo signed by then Deputy Treasury Secretary, Larry Summers. The memo describes the Banksters "end game", and authorizes pulling the trigger on a process of forcing the world's financial institutions to accept the game of derivative roulette where high risk financial schemes and casino bets had to be accepted as "financial assets". Good story and as from everything I know, the absolute truth. Read it carefully because these same Banksters control the Obama Administration and seek to continue the great shakedown. One item of note is the recent resignation of Larry Summers as Obama nominee to head the Federal Reserve Bankster Cartel. Summers is one of the architects of the 2008 financial collapse, but is seen be Wall Street as hesitant to continue with the current Bernake flooding of the money markets with $85 Billion per month in freshly minted paper. Even the hint of rolling back the Bankster bailout a bit is enough to do in Summers. alternative Fed Banster Czar Janette Yellin promises to up the $85 Billion monthly bailout, and Wall Street celebrated with a near doubling of trades. We're so screwed! We started the "Socialism and the End of the American Dream" Diigo group in September of 2008 as an effort to understand the financial collapse. In this short article, Greg Palast summarizes the story and places the important facts on the table for all to see. Pray with me for his health and safety. excerpt: "The year was 1997.  US Treasury Secretary Robert Rubin was pushing hard to de-regulate banks.  That required, first, repeal of the Glass-Steagall Act to dismantle the barrier between commercial banks and investment banks.  It was like replacing bank vaults with roulette wheels. Second, the banks wanted the right to play a new high-risk game:  "d
Paul Merrell

Turkey Joins Russia's Ruble-Based Alternative To SWIFT | Zero Hedge - 1 views

www.zerohedge.com/...-ruble-based-alternative-swift

economic-warfare de-dollarization Russia China Turkey India SWIFT

shared by Paul Merrell on 11 Oct 19 - No Cached
  • After repeated warnings over the past couple of years, Turkey and Russia have signed a pact to increase use of the ruble and lira in cross-border payments, with Turkey signing on to Russia's alternative to SWIFT, the international telecommunications protocol used by banks and central banks the world over. Though SWIFT is an international cooperative owned by its members, with more than 10,000 banks worldwide relying on its system for handling sizable inter-bank transactions, the safety of the network was brought into question after a series of cyberattacks in 2015 and 2016 resulted in the theft of $101 million from the Central Bank of Bangladesh. For the first time since SWIFT's laucnh, the hacks stoked doubts about the system's safety, and prompted many US rivals, including Russia, to ramp up work on their alternatives to SWIFT.
  • In addition to Turkey, China and Russia have signed agreements to bolster trade between the two countries, including settling a larger percentage of their bilateral trade in rubles and renminbi. For China, bilateral trade with Russia grew from $69.6 billion in 2016 to $107.1 billion last year. China is Russia's biggest partner for imports and exports. There has also been talk about India joining Russia's SWIFT alternative as Washington continues to threaten New Delhi with sanctions over its decision to purchase Russian-made missile-defense systems. According to Reuters, Russian Finance Minister Anton Siluanov signed the agreement with Ankara on Tuesday. The agreement, signed on Oct. 4, will encourage the two countries to start using Russia's system in mutual settlements.
Gary Edwards

25 Facts That The Mainstream Media Doesn't Really Want To Talk About - BlackListedNews.com - 1 views

www.blacklistednews.com/...M.html

globalist-media Globalist Banksters mainstream-media

shared by Gary Edwards on 27 Dec 12 - No Cached
  • Gary Edwards on 27 Dec 12
     
    Excellent list!  Also check out "Who Owns the Media?" http://goo.gl/O18r excerpt: "For decades, the mainstream media in the United States was accustomed to being able to tell the American people what to think.  Unfortunately for them, a whole lot of Americans are starting to break free from that paradigm and think for themselves.  A Gallup survey from earlier this year found that 60 percent of all Americans "have little or no trust" in the mainstream media.  More people than ever are realizing that the mainstream media is giving them a very distorted version of "the truth" and they are increasingly seeking out alternative sources of information.  In the United States today, just six giant media corporationscontrol the mainstream media.  Those giant media corporations own television networks, cable channels, movie studios, radio stations, newspapers, magazines, publishing houses, music labels and even many prominent websites.  But now thanks to the Internet the mainstream media no longer has a complete monopoly on the news.  In recent years the "alternative media" has exploded in popularity.  People want to hear about the things that the mainstream media doesn't really want to talk about.  They want to hear news that is not filtered by corporate bosses and government censors.  They want "the truth" and they know that they are not getting it from the mainstream media. We are watching a media revolution happen, and many in the mainstream media are totally freaking out about it.  In fact, some in the mainstream media have even begun publishing articles that mock the American people for not trusting them. " Anyone that does not acknowledge that the mainstream media has an agenda is not being honest with themselves.  The mainstream media presents a view of the world that is very favorable to their big corporate owners and the big corporations that spend billions of dollars to advertise on their networks.  The mainstream media is the mo
Paul Merrell

How US Propaganda Plays in Syrian War - Consortiumnews - 0 views

consortiumnews.com/...propaganda-plays-in-syrian-war

war & peace Syria White-Helmets propaganda U.S.-foreign-policy

shared by Paul Merrell on 24 Sep 16 - No Cached
  • U.S. foreign policymakers have experimented at planting propaganda in social media and then citing it as evidence to support their goals, a process now playing out in the Syrian “regime change,” as Rick Sterling explains.
  • The major achievement of The Syria Campaign has been the branding and promotion of the “White Helmets,” also known as “Syria Civil Defense,” which began with a British military contractor, James LeMesurier, giving some rescue training to Syrians in Turkey with funding provided by the U.S. and U.K. The group stole this name from the REAL Syria Civil Defense as documented in this recent report from Aleppo. The “White Helmets” are marketed in the West as civilian volunteers doing rescue work. On Sept. 22, it was announced that the Right Livelihood Award , the so-called “Alternative Nobel Prize,” is being given to the U.S./U.K.-created White Helmets “for their outstanding bravery, compassion and humanitarian engagement in rescuing civilians from the destruction of the Syrian civil war.”  But the White Helmets are largely a propaganda tool promoting Western intervention against Syria. Unlike a legitimate rescue organization such as the Red Cross or Red Crescent, the “White Helmets” only work in areas controlled by the armed opposition. As shown in this video, the White Helmets pick up the bodies of individuals executed by the terrorists; they claim to be unarmed but are not; and they falsely claim to be neutral.
  • Many of the videos from Al Qaeda/terrorist-dominated areas of Syria have the “White Helmets” logo because the White Helmets work in alliance with these extremist groups as primarily a media marketing tool to raise public support for continuing the support to the armed opposition as well as the demonization of the Syrian government.  The Rights Livelihood press release said the White Helmets “remain outspoken in calling for an end to hostilities in the country.” But that is false, too. The White Helmets actively call for U.S./NATO military intervention through a “No Fly Zone,” which would begin with attacks upon and destruction of government anti-aircraft positions and aircraft. A Major Act of War Taking over the skies above another country is an act of war that would require a major U.S. military operation, according to senior American generals.
  • ...6 more annotations...
  • The New York Times reported that in 2012 General Martin E. Dempsey, chairman of the Joint Chiefs of Staff, told the White House that imposing a no-fly zone in Syria would require up to 70,000 American servicemen to destroy Syria’s antiaircraft system and then impose round-the-clock control over Syrian airspace. General Carter Ham, former commander of the U.S. Africa Command who oversaw the aerial attacks on Libya in 2011, said on CBS News that “I worry sometimes that, when people say ‘impose a no-fly zone,’ there is this almost antiseptic view that this is an easily accomplished military task. It’s extraordinarily difficult. … “It first entails — we should make no bones about it. It first entails killing a lot of people and destroying the Syrian air defenses and those people who are manning those systems. And then it entails destroying the Syrian air force, preferably on the ground, in the air if necessary. This is a violent combat action that results in lots of casualties and increased risk to our own personnel.”
  • In other words, an appeal for a “no-fly zone” is not a call for a non-violent solution. It is seeking a bloody act of war by the United States against Syria, a nation that poses no threat to America. It also would almost surely be carried out in violation of international law since a United Nations Security Council resolution would face vetoes from Russia and probably China. Also, the White Helmets have never criticized or called for the end of funding to extremist organizations including Nusra Front, Al Qaeda’s Syrian affiliate. On the contrary, White Helmets are generally embedded with this organization which is defined as “terrorist” by even the U.S., which is likely why the head of the White Helmets, Raed Saleh, was denied entry to the U.S. The foreign and marketing company origins of the White Helmets were exposed over 1½ years ago – and since then, writer Vanessa Beeley has revealed the organization in more depth in articles such as “Who Are the White Helmets?” and “War by Way of Deception.”  Despite these exposés, understanding of the White Helmets is limited, with many liberal and progressive people uncritically accepting the propaganda and misinformation about Syria. Much of the progressive media has effectively blocked or censored critical examinations amid a flood of propaganda about “barrel bombs” dropped by the “brutal dictator” and his “regime.” 
  • In the last week, Netflix started showing a 40-minute documentary movie about the “White Helmets” that amounts to a promotional video. A substantial portion of it takes place in Turkey where we see trainees in hotel rooms making impassioned phone calls to inquire about their families in Syria.  The “family values” theme is evident throughout, a good marketing angle. The political message of the video is also clear: after a bombing attack, “It’s the Russians …. they say they are fighting ISIS but they are targeting civilians.” The movie includes video previously promoted by the White Helmets such as the “Miracle Baby” rescue, an incident that may or may not have been staged. The video includes self-promoting proclamations such as “You are real heroes.” While no doubt there are some real rescues in the midst of war, many of the videos purporting to show the heroes at work have an unrealistic and contrived look to them as revealed here.
  • “Alternative media” in the West has echoed mainstream media regarding the Syria conflict. The result is that many progressive individuals and groups are confused or worse. For example, the activist group CodePink recently issued a media release promoting the Netflix White Helmets propaganda video. 
  • The White Helmets video is produced by Grain Media and Violet Films/Ultra-Violet Consulting, which advertises itself as a marketing corporation specializing in social media management, grant writing, crowd building and campaign implementation. The only question is who paid them to produce this video.  There is growing resistance to this manipulation and deception. In response to a petition to give the Nobel Peace Prize to the White Helmets, there is a counter petition at Change.org. Following the Right Livelihood Awards’ announcement, there will soon be a petition demanding retraction of the award to the White Helmets. The story of the White Helmets is principally a “feel good” hoax to manipulate public perception about the conflict in Syria and continue the drive for “regime change.” That’s why big money was paid to “Purpose” to “incubate” The Syria Campaign to brand and promote the White Helmets using Facebook, Twitter, etc. That’s why more big money was paid to create a self-promotional documentary. 
  • The judges at Rights Livelihood were probably influenced by the documentary since critical examination of facts around Syria is so rare. It’s a sad commentary on the media. As veteran war correspondent Stephen Kinzer recently wrote, “Coverage of the Syrian war will be remembered as one of the most shameful episodes in the history of the American press.”
Paul Merrell

After Criticism, Washington Post Disavows 'Russian Propaganda' Blacklist Of Indie Media - 0 views

www.mintpressnews.com/...222991

fake-news-propaganda Wapo retreat

shared by Paul Merrell on 09 Dec 16 - No Cached
  • AUSTIN, Texas — Amid a wave of widespread criticism and legal threats, the Washington Post has added a lengthy editor’s note to an article which alleged that a host of independent media websites were spreading Russian propaganda. Washington Post added editor's note to top of "Russian propaganda" story after being called out for shoddy reportinghttps://t.co/dWKbZJGS9a pic.twitter.com/skGiZUX2Ls — Ben Norton (@BenjaminNorton) December 7, 2016 The article, written by Craig Timberg and published on Nov. 24, relied largely on information compiled by PropOrNot, an anonymous group that claims to be comprised of media analysts and researchers. At the time the Post story was published, the group’s homepage featured a list of 200 websites, including MintPress News and many other well-established independent media outlets, which the organization alleges are either deliberately or inadvertently spreading Russian propaganda. Among other criticisms levied against the group, PropOrNot’s research depends on overly broad criteria. According to its own stated methodology, criticism of the ”US, Obama, Hillary Clinton, the EU, Angela Merkel, NATO, Ukraine, Jewish people, US allies, the ‘mainstream media,’ and democrats, the center-right or center-left, and moderates of all stripes,” would be grounds for inclusion on “The List.” The Post added an editor’s note to the article on Wednesday in an apparent attempt to distance the newspaper from the controversy. “The Washington Post on Nov. 24 published a story on the work of four sets of researchers who have examined what they say are Russian propaganda efforts to undermine American democracy and interests,” the note begins.
  • While Timberg’s article does refer to the work of multiple researchers, the bulk of the report relied on allegations made by PropOrNot. The Washington Post continued: “One of them was PropOrNot, a group that insists on public anonymity, which issued a report identifying more than 200 websites that, in its view, wittingly or unwittingly published or echoed Russian propaganda. A number of those sites have objected to being included on PropOrNot’s list, and some of the sites, as well as others not on the list, have publicly challenged the group’s methodology and conclusions. The Post, which did not name any of the sites, does not itself vouch for the validity of PropOrNot’s findings regarding any individual media outlet, nor did the article purport to do so.” Numerous websites, including MintPress, have objected to their inclusion on “The List.” On Tuesday, James Moody, the lawyer representing the publisher of the website Naked Capitalism, demanded a formal retraction and public apology on Tuesday. Moody wrote: “You did not provide even a single example of ‘fake news’ allegedly distributed or promoted by Naked Capitalism or indeed any of the 200 sites on the PropOrNot blacklist. You provided no discussion or assessment of the credentials or backgrounds of these so-called ‘researchers’ (Clint Watts, Andrew Weisburd, and J.M. Berger and the “team” at PropOrNot), and no discussion or analysis of the methodology, protocol or algorithms such ‘researchers’ may or may not have followed.” Backlash against both PropOrNot and the Post’s story hasn’t just come from media outlets included on “The List,” though.
  • “The group promoted by the Post … embodies the toxic essence of Joseph McCarthy, but without the courage to attach individual names to the blacklist,” wrote Ben Norton and Glenn Greenwald in The Intercept, which was not featured on the PropOrNot list, on Nov. 26. The Post’s editor’s note concludes: “Since publication of The Post’s story, PropOrNot has removed some sites from its list.” However, MintPress and Naked Capitalism remain on “The List,” as do respected alternative and independent media sites Antiwar.com, Black Agenda Report, Truthout, and Truthdig. Overall, the Post’s new position seemed poorly received by many of the media analysts who have criticized the story. On Wednesday evening, Adam Johnson, a reporter who writes for Fairness and Accuracy in Reporting, tweeted that the Post editors who refuse to retract the story are “a bunch of cowards.” what a bunch of cowards. "This blacklist that served as the entire news basis of our piece is bullshit but we wont retract the story" https://t.co/V5ZSwSMgTg — Adam H. Johnson (@adamjohnsonNYC) December 7, 2016 Timberg’s article appeared amid widespread outcry over the apparent threat of “fake news” against American democracy. Kevin Gosztola, managing editor of Shadowproof, told MintPress editor-in-chief Mnar Muhawesh that the rush to create “blacklists” of media outlets undermines the freedom of the press.
  • ...1 more annotation...
  • “When you start to put people on lists you’re actually diminishing speech,” Gosztola said in an interview with Muhawesh for “Behind the Headline.”
  • Paul Merrell on 09 Dec 16
     
    The Washington Post backpedals from its "fake news" story.
Paul Merrell

ISIS: Made in Washington, Riyadh - and Tel Aviv by Justin Raimondo -- Antiwar.com - 0 views

original.antiwar.com/...washington-riyadh-and-tel-aviv

war & peace ISIL U.S.-foreign-policy who-is-ISIL Saudis Israel U.S. Benghazi must-read

shared by Paul Merrell on 26 Aug 14 - No Cached
  • The Islamic State in Iraq and Syria (ISIS) is being touted as the newest "threat" to the American homeland: hysterics have pointed to Chicago as the locus of their interest, and we are told by everyone from the President on down that if we don’t attack them – i.e. go back into Iraq (and even venture into Syria) to root them out – they’ll soon show up on American shores.
  • If we step back from the hysteria generated by the beheading of US journalist James Foley, what’s clear is that this new bogeyman is the creation of the United States and its allies in the region. ISIS didn’t just arise out of the earth like some Islamist variation on the fabled Myrmidons: they needed money, weapons, logistics, propaganda facilities, and international connections to reach the relatively high level of organization and lethality they seem to have achieved in such a short period of time. Where did they get these assets? None of this is any secret: Saudi Arabia, Qatar, and the rest of the oil-rich Gulf states have been backing them all the way. Prince Bandar al-Sultan, until recently the head of the Kingdom’s intelligence agency – and still the chief of its National Security Council – has been among their biggest backers. Qatar and the Gulf states have also been generous in their support for the Syrian jihadists who were too radical for the US to openly back. Although pressure from Washington – only recently exerted – has reportedly forced them to cut off the aid, ISIS is now an accomplished fact – and how can anyone say that support has entirely evaporated instead of merely going underground?
  • Washington’s responsibility for the success of ISIS is less direct, but no less damning. The US was in a de facto alliance with the groups that merged to form ISIS ever since President Barack Obama declared Syria’s Bashar al-Assad "must go" – and Washington started funding Syrian rebel groups whose composition and leadership kept changing. By funding the Free Syrian Army (FSA), our "vetted" Syrian Islamists, this administration has actively worked to defeat the only forces capable of rooting out ISIS from its Syrian nest – Assad’s Ba’athist government. Millions of dollars in overt aid – and who knows how much covertly? – were pumped into the FSA. How much of that seeped into the coffers of ISIS when constantly forming and re-forming chameleon-like rebel groups defected from the FSA? These defectors didn’t just go away: they joined up with more radical – and militarily effective – Islamist militias, some of which undoubtedly found their way to ISIS. How many ISIS cadres who started out in the FSA were trained and equipped by American "advisors" in neighboring Jordan? We’ll never know the exact answer to that question, but the number is very likely not zero – and this Mother Jones piece shows that, at least under the Clinton-Petraeus duo, the "vetting" process was a joke. Furthermore, Senator Rand Paul (R-Kentucky) may have been on to something when he confronted Hillary with the contention that some of the arms looted from Gaddafi’s arsenals may well have reached the Syrian rebels. There was, after all, the question of where that mysterious "charity ship," the Al Entisar, carrying "humanitarian aid" to the Syrian rebels headquartered in Turkey, sailed from.
  • ...3 more annotations...
  • In a recent public event held at the Aspen Institute, former Israeli ambassador to the US Michael Oren bluntly stated that in any struggle between the Sunni jihadists and their Iranian Shi’ite enemies, the former are the "lesser evil." They’re all "bad guys," says Oren, but "we always wanted Bashar Assad to go, we always preferred the bad guys who weren’t backed by Iran to the bad guys who were backed by Iran." Last year, Sima Shine, Israel’s Minister of Strategic Affairs, declared: "The alternative, whereby [Assad falls and] Jihadists flock to Syria, is not good. We have no good options in Syria. But Assad remaining along with the Iranians is worse. His ouster would exert immense pressure on Iran." None of this should come as much of a surprise to anyone who has been following Israel’s machinations in the region. It has long been known that the Israelis have been standing very close to the sidelines of the Syrian civil war, gloating and hoping for "no outcome," as this New York Times piece put it.
  • Secondly, the open backing by the US of particular Syrian rebel groups no doubt discredited them in the eyes of most Islamist types, driving them away from the FSA and into the arms of ISIS. When it became clear Washington wasn’t going to provide air support for rebel actions on the ground, these guys left the FSA in droves – and swelled the ranks of groups that eventually coalesced into ISIS. Thirdly, the one silent partner in all this has been the state of Israel. While there is no evidence of direct Israeli backing, the public statements of some top Israeli officials lead one to believe Tel Aviv has little interest in stopping the ISIS threat – except, of course, to urge Washington to step deeper into the Syrian quagmire.
  • Israel’s goal in the region has been to gin up as much conflict and chaos as possible, keeping its Islamic enemies divided, making it impossible for any credible challenge to arise among its Arab neighbors – and aiming the main blow at Tehran. As Ambassador Oren so brazenly asserted – while paying lip service to the awfulness of ISIS and al-Qaeda – their quarrel isn’t really with the Arabs, anyway – it’s with the Persians, whom they fear and loathe, and whose destruction has been their number one objective since the days of Ariel Sharon. Why anyone is shocked that our Middle Eastern allies have been building up Sunni radicals in the region is beyond me – because this has also been de facto US policy since the Bush administration, which began recruiting American assets in the Sunni region as the linchpin of the Iraqi "surge." This was part and parcel of the so-called "Sunni turn," or "redirection," in Seymour Hersh’s phrase, which, as I warned in 2006, would become Washington’s chosen strategy for dealing with what they called the "Shia crescent" – the crescent-shaped territory spanning Iran, Iraq, Syria, and parts of Lebanon under Hezbollah’s control, which the neocons began pointing to as the Big New Threat shortly after Saddam Hussein’s defeat.
  • Paul Merrell on 26 Aug 14
     
    If one were to attempt to write the most damning yet throughly referenced report on U.S. involvement with ISIL, this manuscript would make a very good first draft.  But probably unintentionally, the author gives less credit to Israel than it is due. At least twice (and I think more but would have to check), the Israeli Air Force has struck Syria, destroying Russian heavy weaponry, missiles capable of reaching Israel, being delivered to the Lebanonese Hezbollah in Syria. Hesbollah is fighting side-by-side with the Syrian government forces in Syria. So Israel has had a direct and overt hand in the Syrian war. 
Paul Merrell

Committee to Protect Journalists issues scathing report on Obama administration | Glenn... - 0 views

www.theguardian.com/...pi-report-press-freedoms-obama

surveillance state Obama transparency freedom-of-the-press

shared by Paul Merrell on 11 Oct 13 - No Cached
  • It's hardly news that the Obama administration is intensely and, in many respects, unprecedentedly hostile toward the news-gathering process. Even the most Obama-friendly journals have warned of what they call "Obama's war on whistleblowers". James Goodale, the former general counsel of the New York Times during its epic fights with the Nixon administration, recently observed that "President Obama wants to criminalize the reporting of national security information" and added: "President Obama will surely pass President Richard Nixon as the worst president ever on issues of national security and press freedom."Still, a new report released today by the highly respected Committee to Protect Journalists - its first-ever on press freedoms in the US - powerfully underscores just how extreme is the threat to press freedom posed by this administration. Written by former Washington Post executive editor Leonard Downie, Jr., the report offers a comprehensive survey of the multiple ways that the Obama presidency has ushered in a paralyzing climate of fear for journalists and sources alike, one that severely threatens the news-gathering process.The first sentence: "In the Obama administration's Washington, government officials are increasingly afraid to talk to the press."
  • It quotes New York Times national security reporter Scott Shane as saying that sources are "scared to death." It quotes New York Times reporter David Sanger as saying that "this is the most closed, control freak administration I've ever covered." And it notes that New York Times public editor Margaret Sullivan previously wrote that "it's turning out to be the administration of unprecedented secrecy and unprecedented attacks on a free press."Based on all this, Downie himself concludes:The administration's war on leaks and other efforts to control information are the most aggressive I've seen since the Nixon administration, when I was one of the editors involved in The Washington Post's investigation of Watergate. The 30 experienced Washington journalists at a variety of news organizations whom I interviewed for this report could not remember any precedent."And this pernicious dynamic extends far beyond national security: "Ellen Weiss, Washington bureau chief for E.W. Scripps newspapers and stations, said 'the Obama administration is far worse than the Bush administration' in trying to thwart accountability reporting about government agencies." It identifies at least a dozen other long-time journalists making similar observations.
  • The report ends by noting the glaring irony that Obama aggressively campaigned on a pledge to usher in The Most Transparent Administration Ever™. Instead, as the New Yorker's investigative reporter Jane Mayer recently said about the Obama administration's attacks: "It's a huge impediment to reporting, and so chilling isn't quite strong enough, it's more like freezing the whole process into a standstill."
  • Paul Merrell on 11 Oct 13
     
    Note how Obama is not winning over the press with his legislation to give reporters for mainstream media a special privilege from some types of surveillance. When last I checked, that effort had bogged down in the effort to define "journalist" in a way that did not include every blogger on the planet. Small wonder: the Supreme Court has repeatedly held that there is no constitutional basis for a special protection for journalists *because the lone, anonymous pamphleteer has the same Freedom of the Press that mainstream journalists have.* I rarely make absolute predictions about what courts will do in the future, but this is black-letter First Amendment law. The legislation is doomed to be voided by the courts even if passed. Big, big denial of equal protection by the First Amendment. There is no alternative to ending the government surveillance except forfeiture of our freedoms.   
Paul Merrell

Hillary Clinton's Real Scandal Is Honduras, Not Benghazi - 0 views

www.informationclearinghouse.info/article39225.htm

Auction 2016 Hillary Honduras

shared by Paul Merrell on 28 Jul 14 - No Cached
  • What beats me is why more Democrats aren’t deeply troubled by the legacy of Clinton’s foreign policy blunder in Honduras. Maybe you’ve forgotten what happened in that small country in the first year of the Obama administration — more on that in a moment. But surely you’ve noticed the ugly wave of xenophobia greeting a growing number of Central American child refugees arriving on our southern border. Some of President Barack Obama’s supporters are trying to blame this immigration crisis on the Bush administration because of an anti-trafficking law George W. signed in 2008 specifically written to protect Central American children that preceded an uptick in their arrivals. But which country is the top source of kids crossing the border? Honduras, home to the world’s highest murder rate, Latin America’s worst economic inequality, and a repressive U.S.-backed government. When Honduran military forces allied with rightist lawmakers ousted democratically elected President Manuel Zelaya in 2009, then-Secretary of State Clinton sided with the armed forces and fought global pressure to reinstate him.
  • Washington wields great influence over Honduras, thanks to the numerous military bases built with U.S. funds where training and joint military and anti-drug operations take place. Since the coup, nearly $350 million in U.S. assistance, including more than $50 million in military aid has poured into the country. That’s a lot of investment in a nation where the police, the military, and private security forces are killing people with alarming frequency and impunity, according to Human Rights Watch. In short, desperate Honduran children are seeking refuge from a human rights nightmare that would cast a dark cloud over Clinton’s presidential bid right now if the media were paying any attention. That wouldn’t give Republicans a big advantage, of course. Until they stop alienating a majority of female voters and communities of color, I find it hard to see the party of Mitt Romney and John McCain winning the White House.
  • Given the Democratic Party’s demographic edge, progressives have nothing to lose by seizing on the GOP field’s weakness and pressing for a viable alternative to another Clinton administration. Senator Elizabeth Warren could prove a contender. Unfortunately, the consumer-rights firebrand and Massachusetts Democrat lacks any foreign policy experience. And foreign policy is no afterthought these days. Israel — the recipient of $3.1 billion a year in U.S. military aid — is waging a ground war in Gaza, and the stakes in the Russia-Ukraine conflict just grew following the downing of that Malaysia Airlines jet. Plus, Iraq is growing more violent and unstable once more. On all these issues, Clinton is more hawkish than most of the Democratic base. But other Democrats with a wide range of liberal credentials and foreign policy expertise are signaling some interest in running, especially if Clinton ultimately sits out the race. Even if Clinton does win in 2016, a serious progressive primary challenge could help shape her presidency. As more and more Honduran kids cross our border in search of a safe haven, voters should take a good look at her track record at the State Department and reconsider the inevitability of another Clinton administration.
Paul Merrell

Are The Middle East Wars Really About Forcing the World Into Dollars and Private Centra... - 0 views

www.washingtonsblog.com/...d-private-central-banking.html

banksters dollar reserve currrencies Libya Iran Africa Gadafhi

shared by Paul Merrell on 23 Jun 14 - No Cached
  • Why is the U.S. targeting Iran’s central bank? Well, multi-billionaire Hugo Salinas Price told King World News: What happened to Mr. Gaddafi, many speculate the real reason he was ousted was that he was planning an all-African currency for conducting trade. The same thing happened to him that happened to Saddam because the US doesn’t want any solid competing currency out there vs the dollar. You know Gaddafi was talking about a gold dinar. And as I noted in August: Ellen Brown argues in the Asia Times that there were even deeper reasons for the war than gold, oil or middle eastern regime change. Brown argues that Libya – like Iraq under Hussein – challenged the supremacy of the dollar and the Western banks: Later, the same general said they planned to take out seven countries in five years: Iraq, Syria, Lebanon, Libya, Somalia, Sudan, and Iran. What do these seven countries have in common? In the context of banking, one that sticks out is that none of them is listed among the 56 member banks of the Bank for International Settlements (BIS). That evidently puts them outside the long regulatory arm of the central bankers’ central bank in Switzerland.
  • The most renegade of the lot could be Libya and Iraq, the two that have actually been attacked. Kenneth Schortgen Jr, writing on Examiner.com, noted that “[s]ix months before the US moved into Iraq to take down Saddam Hussein, the oil nation had made the move to accept euros instead of dollars for oil, and this became a threat to the global dominance of the dollar as the reserve currency, and its dominion as the petrodollar.” According to a Russian article titled “Bombing of Libya – Punishment for Ghaddafi for His Attempt to Refuse US Dollar”, Gaddafi made a similarly bold move: he initiated a movement to refuse the dollar and the euro, and called on Arab and African nations to use a new currency instead, the gold dinar. Gaddafi suggested establishing a united African continent, with its 200 million people using this single currency. *** And that brings us back to the puzzle of the Libyan central bank. In an article posted on the Market Oracle, Eric Encina observed:
  • One seldom mentioned fact by western politicians and media pundits: the Central Bank of Libya is 100% State Owned … Currently, the Libyan government creates its own money, the Libyan Dinar, through the facilities of its own central bank. Few can argue that Libya is a sovereign nation with its own great resources, able to sustain its own economic destiny. One major problem for globalist banking cartels is that in order to do business with Libya, they must go through the Libyan Central Bank and its national currency, a place where they have absolutely zero dominion or power-broking ability. Hence, taking down the Central Bank of Libya (CBL) may not appear in the speeches of Obama, Cameron and Sarkozy but this is certainly at the top of the globalist agenda for absorbing Libya into its hive of compliant nations.
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  • Adding credence to the theory about why Gadhafi had to be overthrown, as The New American reported in March, was the rebels’ odd decision to create a central bank to replace Gadhafi’s state-owned monetary authority. The decision was broadcast to the world in the early weeks of the conflict. In a statement describing a March 19 meeting, the rebel council announced, among other things, the creation of a new oil company. And more importantly: “Designation of the Central Bank of Benghazi as a monetary authority competent in monetary policies in Libya and appointment of a Governor to the Central Bank of Libya, with a temporary headquarters in Benghazi.” The creation of a new central bank, even more so than the new national oil regime, left analysts scratching their heads. “I have never before heard of a central bank being created in just a matter of weeks out of a popular uprising,” noted Robert Wenzel in an analysis for the Economic Policy Journal. “This suggests we have a bit more than a rag tag bunch of rebels running around and that there are some pretty sophisticated influences,” he added. Wenzel also noted that the uprising looked like a “major oil and money play, with the true disaffected rebels being used as puppets and cover” while the transfer of control over money and oil supplies takes place.
  • Similar scenarios involving the global monetary system — based on the U.S. dollar as a global reserve currency, backed by the fact that oil is traded in American money — have also been associated with other targets of the U.S. government. Some analysts even say a pattern is developing. Iran, for example, is one of the few nations left in the world with a state-owned central bank. And Iraqi despot Saddam Hussein, once armed by the U.S. government to make war on Iran, was threatening to start selling oil in currencies other than the dollar just prior to the Bush administration’s “regime change” mission. While most of the establishment press in America has been silent on the issue of Gadhafi’s gold dinar scheme, in Russia, China, and the global alternative media, the theory has exploded in popularity.
  • Posted on January 13, 2012 by WashingtonsBlog The Reason for the Wars in the Middle East and North Africa:  Dollars The Middle Eastern and North African wars – planned 20 years ago – don’t necessarily have much to do with fighting terrorism. See this,  this and this. They are, in reality, about oil. And protecting Israel (and read the section entitled “Securing the Realm” here). But as AFP reports today, there is another major motivation for the expanding wars: The latest round of American sanctions are aimed at shutting down Iran’s central bank, a senior US official said Thursday, spelling out that intention directly for the first time. “We do need to close down the Central Bank of Iran (CBI),” the official told reporters on condition of anonymity, while adding that the United States is moving quickly to implement the sanctions, signed into law last month. *** Foreign central banks that deal with the Iranian central bank on oil transactions could also face similar restrictions under the new law, which has sparked fears of damage to US ties with nations like Russia and China. “If a correspondent bank of a US bank wants to do business with us and they’re doing business with CBI or other designated Iranian banks… then they’re going to get in trouble with us,” the US official said.
  • Paul Merrell on 23 Jun 14
     
    I only highlighted snippets. Lots more and lots of links. 
Paul Merrell

Russia Abandons PetroDollar By Opening Reserve Fund - 0 views

oilprice.com/...r-By-Opening-Reserve-Fund.html

war & peace economic-warfare Russia U.S. 2015 oil-forecast

shared by Paul Merrell on 19 Jan 15 - No Cached
  • 2015 has not been good to Russia; the spread between Brent and WTI is gone in anticipation of US exports and both benchmarks have flirted with sub $45 prices. A hostage to such prices, the ruble has yet to begin its turnaround and the state’s finances are in extreme disarray. President Vladimir Putin’s approval ratings remain sky-high, but his country has not faced such difficult times since he took office more than 15 years ago. Since the turn of the new year the ruble has fallen over 13 percent and Russia’s central bank and finance department are running out of options – to date, policy makers have hiked interest rates to their highest level since the 1998 Russian financial crisis and embarked on a 1 trillion-ruble ($15 billion) bank recapitalization plan to little effect. Their latest, and most dramatic, plan is to abandon the dollar – at least somewhat.
  • In late December, the Kremlin ordered five large state-owned exporters – including oil and gas giants Rosneft and Gazprom – to sell their foreign currency reserves. Specifically, the companies must bring their foreign reserves to October levels by the beginning of March. To comply, the exporters may have to sell a combined $1 billion per day until March. Private companies have not yet been hit by these soft capital controls, but have instead been advised to manage their foreign exchange maneuvers responsibly. More recently, the Kremlin announced it will open its $88 billion sovereign wealth fund and flip it for rubles. The plan will see Russia convert as much as $8 billion to rubles (~500 billion) over a two-month span and place them in deposits for banks. Overall, the move will provide the Russian economy with some much needed liquidity and could speed up the healing if oil were to rebound, but it sends the wrong signals to investors and Economy Minister Alexei Ulyukaev believes the country’s credit rating will soon be marked below investment grade.
  • In any case, the move does little for the country’s ailing oil industry. The domestic market is projected to shrink amid the economic slowdown, and competition for market share abroad is increasingly competitive. Production forecasts are no rosier and the EIA predicts Russian crude production growth will be among the worst performers in both 2015 and 2016 – contrasted by continued growth in North America. Russia’s gas industry has fared no better. Gazprom’s 2014 output was historically awful and LNG is ever more a counter to the country’s pipeline politics.
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  • While Russia likely envisioned abandoning its dollars under far better circumstances, the news is just as worrying for the United States and its dollar hegemony. Along with Russia, energy exporters worldwide are pulling their petrodollars out of world financial markets and other USD-denominated assets in favor of greater, and certainly necessary, spending domestically. In the past, these dollars have given life to the loan market and helped fund debt among energy importers, contributing to overall growth.
  • Petrodollar exports – otherwise known as petrodollar recycling – were negative in 2014 for the first time in nearly two decades. The result is falling global market liquidity, record low US Treasury rates, and higher borrowing costs for everyone – a tough pill to swallow for energy producers if oil prices remain low. The US dollar remains the global reserve currency for now, but the fact remains that nations are increasingly transacting on their own terms, and often times without the USD.
  • Paul Merrell on 19 Jan 15
     
    Re: "EIA predicts Russian crude production growth will be among the worst performers in both 2015 and 2016 - contrasted by continued growth in North America." That's not what is being reported. Many shale oil production facilities are no longer profitable in North America and credit for new efforts has completely dried up. And unless Congress can raise enough votes in both houses to overried Obama's promised veto of a bill to alow construction of the KXL Pipeline, Most of Canada's new oil production capacity will never reach the market. (Canada has ruled out pipelines from the Alberta tar sands to its own ocean coasts, so there is no alternative to KXL.)
Paul Merrell

Afghanistan Exit Is Seen as Peril to C.I.A. Drone Mission - NYTimes.com - 0 views

www.nytimes.com/...as-peril-to-drone-mission.html

war & peace Afghanistan drone attacks Pakistan Karzai Obama negotiations

shared by Paul Merrell on 31 Jan 14 - No Cached
  • The risk that President Obama may be forced to pull all American troops out of Afghanistan by the end of the year has set off concerns inside the American intelligence agencies that they could lose their air bases used for drone strikes against Al Qaeda in Pakistan and for responding to a nuclear crisis in the region. Until now, the debate here and in Kabul about the size and duration of an American-led allied force in Afghanistan after 2014 had focused on that country’s long-term security. But these new concerns also reflect how troop levels in Afghanistan directly affect long-term American security interests in neighboring Pakistan, according to administration, military and intelligence officials.
  • The concern has become serious enough that the Obama administration has organized a team of intelligence, military and policy specialists to devise alternatives to mitigate the damage if a final security deal cannot be struck with the Afghan president, Hamid Karzai, who has declined to enact an agreement that American officials thought was completed last year. If Mr. Obama ultimately withdrew all American troops from Afghanistan, the C.I.A.’s drone bases in the country would have to be closed, according to administration officials, because it could no longer be protected. Their concern is that the nearest alternative bases are too far away for drones to reach the mountainous territory in Pakistan where the remnants of Al Qaeda’s central command are hiding. Those bases would also be too distant to monitor and respond as quickly as American forces can today if there were a crisis in the region, such as missing nuclear material or weapons in Pakistan and India.
  • Their base inside Pakistan was closed after a shooting involving a C.I.A. security contractor, Raymond Davis, and the raid into Pakistani territory that killed Osama bin Laden, both in 2011. Crucial to the surveillance of Bin Laden’s house in Abbottabad was the use of an RQ-170 drone. Pakistani officials talked openly in the weeks after that raid about their fear that the unmanned aircraft was also being used to monitor their nuclear arsenal, now believed to be the fastest growing in the world. The raid, and those drones, came out of American facilities just over the Afghan border.
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  • The C.I.A.’s drone bases in Afghanistan, including one in the eastern part of the country, allow operators to respond quickly to fresh intelligence. The proximity to Pakistan’s tribal areas also allows the Predator drones and their larger, faster cousin, the Reaper, to fly longer missions without having to return to base.
  • The Reapers, the newest, largest and most capable of the unmanned armed vehicles, have a range of up to 1,100 miles. That puts Pakistan’s tribal areas within range of some bases the American military has flown from, especially in Kyrgyzstan, where for more than a decade the Pentagon has conducted air operations, include cargo and troop flights, out of a base at Manas. But the United States said last fall that it would pull out of that base in July. Other allied countries are within the Reaper’s range — in the Persian Gulf, for example. But the distances would be too great to carry out drone operations effectively, officials said, and it is very unlikely that any of those nations would approve launching the diplomatically sensitive strikes missions from their soil.“There’s no easy alternative to Afghanistan,” one former senior American counterterrorism official said.
Paul Merrell

Israeli Comptroller Report Reveals 2014 Gaza Massacre Was A War Of Choice - 0 views

www.mintpressnews.com/...225549

shared by Paul Merrell on 06 Mar 17 - No Cached
  • Palestinians from the Gaza Strip have criticized an Israeli report on the country’s 2014 military operation against the besieged coastal enclave. The report was released by Israeli state comptroller Yosef Shapira on Tuesday. “I understand from the report that Gaza was merely the setting for an Israeli war game, with no objective but to destroy and murder indiscriminately,” said Basman Alashi, executive director of the El-Wafa Medical Rehabilitation and Specialized Surgery Hospital. The hospital, formerly located in the Shujaya neighborhood by the separation barrier with Israel east of Gaza City, was repeatedly shelled by Israeli forces during the 51-day offensive before it was evacuated under fire on July 17, 2014.
  • “The overall impression it leaves is this: ‘Netanyahu, You didn’t do a good job of destroying Gaza, do it better next time,’” Alashi said of the report. Others said the document contained useful information about Israel’s behavior during the offensive, even if its conclusions remained incomplete. “The report shows that Israel follows a systematic policy of humiliating Palestinians, especially through careless targeting of civilians,” said Ramy Abdu, founder and chairman of the Euro-Mediterranean Human Rights Monitor. Abdu’s Geneva-based agency has conducted investigations of Israel’s military conduct, including an Oct. 30, 2014 report stating that its forces had “deliberately targeted locations with concentrations of civilians” during operations earlier that year. “What the report has failed to cover is to cite careless targeting of civilians as a consistent failure of the Israeli forces, with almost no serious actions to do something about it,” Abdu said in regard to the Israeli comptroller’s findings.
  • It also claimed the cabinet had not only failed to consider diplomatic alternatives to military action, but also to set any clear strategy concerning Gaza. Once the operation began, it said, Israeli forces largely failed to meet their objective of thwarting tunnels dug by Palestinian resistance groups, destroying only half of them over weeks of a bloody ground invasion that produced many casualties. The comptroller did not appear to consider the goals of an earlier military operation, launched by Israel in the West Bank on June 13, 2014. These goals were to weaken Hamas, obstruct an agreement by Hamas and Fatah to form a unity government across the West Bank and Gaza Strip and recover three young settlers captured by Palestinians.
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  • The resulting deaths, along with the demands of an impoverished population and weeks of Israeli strikes on the Gaza Strip, ultimately spurred Palestinian resistance groups into action and forced their armed wings to respond. By the time its guns fell silent on Aug. 26, Israel had achieved the first two of its three goals for its West Bank operation. The third had always been questionable, as Netanyahu knew from the outset that the three settlers were likely dead. Along with the weakness of Israel’s strategy in the Gaza Strip, where its forces quickly found themselves unprepared to face the threat of resistance tunnels, the mixed results raise questions about which objectives were the real ones. Military operations in Gaza and the West Bank made 2014 the most lethal year for Palestinians under occupation since 1967, when Israeli forces seized Palestinian enclaves over six days of war with neighboring Arab states. As the report shows, even senior figures in Israel’s security establishment now acknowledge their government’s responsibility for the loss of life. After its release, Isaac Herzog, chairman of the Israeli Labor Party head of the opposition Zionist Union, called for Netanyahu to resign over its charges, saying “Netanyahu must draw his conclusions and hand in the keys.”
  • But Netanyahu’s re-election, along with the seating of an even more right-wing governing coalition only seven months after the Gaza offensive, shows that Palestinian bloodshed is not a liability in Israeli politics, even at the cost of Israeli lives. Israel’s continued tightening of its Gaza closure, even as the country’s comptroller finds it to have been a key cause of the 2014 carnage, demonstrates that while its government may not seek immediate conflict with the Strip, it does not prioritize its avoidance.
  • Paul Merrell on 06 Mar 17
     
    This report is causing a political firestorm in Israel. This article does an excellent job of tying all the major Israeli press reports together. The report will obviously be handed off quickly to the International Criminal Court by Palestinians because it clearly establishes intent to commit war crimes.
Paul Merrell

Time for the Nuclear Option: Raining Money on Main Street | WEB OF DEBT BLOG - 0 views

ellenbrown.com/...n-raining-money-on-main-street

economy financial-stimulus printing-press

shared by Paul Merrell on 24 Sep 15 - No Cached
  • Predictions are that we will soon be seeing the “nuclear option” — central bank-created money injected directly into the real economy. All other options having failed, governments will be reduced to issuing money outright to cover budget deficits. So warns a September 18 article on ZeroHedge titled “It Begins: Australia’s Largest Investment Bank Just Said ‘Helicopter Money’ Is 12-18 Months Away.” Money reformers will say it’s about time. Virtually all money today is created as bank debt, but people can no longer take on more debt. The money supply has shrunk along with people’s ability to borrow new money into existence. Quantitative easing (QE) attempts to re-inflate the money supply by giving money to banks to create more debt, but that policy has failed. It’s time to try dropping some debt-free money on Main Street. The Zerohedge prediction is based on a release from Macqurie, Australia’s largest investment bank. It notes that GDP is contracting, deflationary pressures are accelerating, public and private sectors are not driving the velocity of money higher, and central bank injections of liquidity are losing their effectiveness. Current policies are not working. As a result:
  • There are several policies that could be and probably would be considered over the next 12-18 months. If private sector lacks confidence and visibility to raise velocity of money, then (arguably) public sector could. In other words, instead of acting via bond markets and banking sector, why shouldn’t public sector bypass markets altogether and inject stimulus directly into the ‘blood stream’? Whilst it might or might not be called QE, it would have a much stronger impact and unlike the last seven years, the recovery could actually mimic a conventional business cycle and investors would soon start discussing multiplier effects and positioning in areas of greatest investment.  Willem Buiter, chief global economist at Citigroup, is also recommending “helicopter money drops” to avoid an imminent global recession, stating: A global recession starting in 2016 led by China is now our Global Economics team’s main scenario. Uncertainty remains, but the likelihood of a timely and effective policy response seems to be diminishing. . . . Helicopter money drops in China, the euro area, the UK, and the U.S. and debt restructuring . . . can mitigate and, if implemented immediately, prevent a recession during the next two years without raising the risk of a deeper and longer recession later.
  • In the UK, something akin to a helicopter money drop was just put on the table by Jeremy Corbyn, the newly-elected Labor leader. He proposes to give the Bank of England a new mandate to upgrade the economy to invest in new large scale housing, energy, transport and digital projects. He calls it “quantitative easing for people instead of banks” (PQE). The investments would be made through a National Investment Bank set up to invest in new infrastructure and in the hi-tech innovative industries of the future. Australian blogger Prof. Bill Mitchell agrees that PQE is economically sound. But he says it should not be called “quantitative easing.” QE is just an asset swap – cash for federal securities or mortgage-backed securities on bank balance sheets. What Corbyn is proposing is actually Overt Money Financing (OMF) – injecting money directly into the economy. Mitchell acknowledges that OMF is a taboo concept in mainstream economics. Allegedly, this is because it would lead to hyperinflation. But the real reasons, he says, are that: It cuts out the private sector bond traders from their dose of corporate welfare which unlike other forms of welfare like sickness and unemployment benefits etc. has made the recipients rich in the extreme. . . . It takes away the ‘debt monkey’ that is used to clobber governments that seek to run larger fiscal deficits.
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  • Tim Worstall, writing in the UK Register, objects to Corbyn’s PQE (or OMF) on the ground that it cannot be “sterilized” the way QE can. When inflation hits, the process cannot be reversed. If the money is spent on infrastructure, it will be out there circulating in the economy and will not be retrievable. Worstall writes: QE is designed to be temporary, . . . because once people’s spending rates recover we need a way of taking all that extra money out of the economy. So we do it by using printed money to buy bonds, which injects the money into the economy, and then sell those bonds back once we need to withdraw the money from the economy, and simply destroy the money we’ve raised. . . . If we don’t have any bonds to sell, it’s not clear how we can reduce [the money supply] if large-scale inflation hits.
  • The problem today, however, is not inflation but deflation of the money supply. Some consumer prices may be up, but this can happen although the money supply is shrinking. Food prices, for example, are up; but it’s because of increased costs, including drought in California, climate change, and mergers and acquisitions by big corporations that eliminate competition. Adding money to the economy will not drive up prices until demand is saturated and production has hit full capacity; and we’re a long way from full capacity now. Before that, increasing “demand” will increase “supply.” Producers will create more goods and services. Supply and demand will rise together and prices will remain stable. In the US, the output gap – the difference between actual output and potential output – is estimated at about $1 trillion annually. That means the money supply could be increased by at least $1 trillion annually without driving up prices.
  • If PQE does go beyond full productive capacity, the government does not need to rely on the central bank to pull the money back. It can do this with taxes. Just as loans increase the money supply and repaying them shrinks it again, so taxes and other payments to the government will shrink a money supply augmented with money issued by the government. Using 2012 figures (drawing from an earlier article by this author), the velocity of M1 (the coins, dollar bills and demand deposits spent by ordinary consumers) was then 7. That means M1 changed hands seven times during 2012 – from housewife to grocer to farmer, etc. Since each recipient owed taxes on this money, increasing M1 by one dollar increased the tax base by seven dollars. Total tax revenue as a percentage of GDP in 2012 was 24.3%. Extrapolating from those figures, $1.00 changing hands seven times could increase tax revenue by $7.00 x 24.3% = $1.70. That means the government could, in theory, get more back in taxes than it paid out. Even with some leakage in those figures and deductions for costs, all or most of the new money spent into the economy might be taxed back to the government. New money could be pumped out every year and the money supply would increase little if at all.
  • Besides taxes, other ways to get money back into the Treasury include closing tax loopholes, taxing the $21 trillion or more hidden in offshore tax havens, and setting up a system of public banks that would return the interest on loans to the government. Net interest collected by U.S. banks in 2014 was $423 billion. At its high in 2007, it was $725 billion. Thus there are many ways to recycle an issue of new money back to the government. The same money could be spent and collected back year after year, without creating price inflation or hyperinflating the money supply. This not only could be done; it needs to be done. Conventional monetary policy has failed. Central banks have exhausted their existing toolboxes and need to explore some innovative alternatives.
  • Paul Merrell on 24 Sep 15
     
    Debt having failed as a method of money creation leads us back to the printing press method. But on whom are those helicopters to drop their new money? And how to we ensure that the banksters are not among them?
Paul Merrell

Washington Piles Lie Upon Lie   : Information Clearing House - ICH - 0 views

www.informationclearinghouse.info/article39537.htm

war & peace Ukraine Russia U.S.-foreign-policy propaganda lies

shared by Paul Merrell on 30 Aug 14 - No Cached
  • By Paul Craig Roberts August 29, 2014 "ICH" - The latest Washington lie, this one coming from NATO, is that Russia has invaded Ukraine with 1,000 troops and self-propelled artillery. How do we know that this is a lie? Is it because we have heard nothing but lies about Russia from NATO, from US ambassador to the UN Samantha Power, from assistant secretary of state Victoria Nuland, from Obama and his entire regime of pathological liars, and from the British, German, and French governments along with the BBC and the entirety of the Western media? This, of course, is a good reason for knowing that the latest Western propaganda is a lie. Those who are pathological liars don’t suddenly start telling the truth. But there are even better reasons for understanding that Russia has not invaded Ukraine with 1,000 troops. One reason is that Putin has invested heavily in diplomacy backed by unprovocative behavior. He would not risk his bet on diplomacy by sending in troops too few in number to have a decisive effect on the outcome.
  • Another reason is that if Putin decides he has no alternative to sending the Russian military to protect the Russian residents in eastern and southern Ukraine, Putin will send in enough troops to do the job quickly as he did in Georgia when the American and Israeli trained Georgian army invaded South Ossetia and was destroyed in a few hours by the Russian response. If you hear that 100,000 Russian troops accompanied by air cover have invaded Ukraine, it would be a more believable claim. A third reason is that the Russian military does not need to send troops into Ukraine in order to stop the bombing and artillery shelling of the Russian populations by Washington’s puppet government in Kiev. The Russian air force can easily and quickly destroy the Ukrainian air force and artillery and, thereby, stop the Ukrainian attack on the secessionist provinces.
  • It was only two weeks ago that a fabricated report spread by the UK Guardian and the BBC that a Russian armored convoy entered Ukraine and was destroyed by the Ukrainian Military. And two weeks prior to that we had the hoax of the satellite images allegedly released by the US State Department that the corrupt US ambassador in Kiev spread around the world on social media allegedly showing that Russian forces were firing into Ukraine. One or two weeks from now we will have another lie, and another a week or two after that, and so on. The cumulative effect of lie piled upon lie for most people is to build the view that the Russians are up to no good. Once this view is established, Western governments can take more serious moves against Russia.
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  • By Paul Craig Roberts
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