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Paul Merrell

Russia Hysteria Infects WashPost Again: False Story About Hacking U.S. Electric Grid - 0 views

  • The Washington Post on Friday reported a genuinely alarming event: Russian hackers have penetrated the U.S. power system through an electrical grid in Vermont. The Post headline conveyed the seriousness of the threat: The first sentence of the article directly linked this cyberattack to alleged Russian hacking of the email accounts of the DNC and John Podesta — what is now routinely referred to as “Russian hacking of our election” — by referencing the code name revealed on Wednesday by the Obama administration when it announced sanctions on Russian officials: “A code associated with the Russian hacking operation dubbed Grizzly Steppe by the Obama administration has been detected within the system of a Vermont utility, according to U.S. officials.” The Post article contained grave statements from Vermont officials of the type politicians love to issue after a terrorist attack to show they are tough and in control. The state’s Democratic governor, Peter Shumlin, said: Vermonters and all Americans should be both alarmed and outraged that one of the world’s leading thugs, Vladimir Putin, has been attempting to hack our electric grid, which we rely upon to support our quality of life, economy, health, and safety. This episode should highlight the urgent need for our federal government to vigorously pursue and put an end to this sort of Russian meddling.
  • Vermont Sen. Patrick Leahy issued a statement warning: “This is beyond hackers having electronic joy rides — this is now about trying to access utilities to potentially manipulate the grid and shut it down in the middle of winter. That is a direct threat to Vermont and we do not take it lightly.” The article went on and on in that vein, with all the standard tactics used by the U.S. media for such stories: quoting anonymous national security officials, reviewing past acts of Russian treachery, and drawing the scariest possible conclusions (“‘The question remains: Are they in other systems and what was the intent?’ a U.S. official said”).  The media reactions, as Alex Pfeiffer documents, were exactly what one would expect: hysterical, alarmist proclamations of Putin’s menacing evil: Our Russian "friend" Putin attacked the U.S. power grid. https://t.co/iAneRgbuhF — Brent Staples (@BrentNYT) December 31, 2016
  • The Post’s story also predictably and very rapidly infected other large media outlets. Reuters thus told its readers around the world: “A malware code associated with Russian hackers has reportedly been detected within the system of a Vermont electric utility.”   What’s the problem here? It did not happen. There was no “penetration of the U.S. electricity grid.” The truth was undramatic and banal. Burlington Electric, after receiving a Homeland Security notice sent to all U.S. utility companies about the malware code found in the DNC system, searched all its computers and found the code in a single laptop that was not connected to the electric grid. Apparently, the Post did not even bother to contact the company before running its wildly sensationalistic claims, so Burlington Electric had to issue its own statement to the Burlington Free Press, which debunked the Post’s central claim (emphasis in original): “We detected the malware in a single Burlington Electric Department laptop not connected to our organization’s grid systems.” So the key scary claim of the Post story — that Russian hackers had penetrated the U.S. electric grid — was false. All the alarmist tough-guy statements issued by political officials who believed the Post’s claim were based on fiction.
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  • UPDATE: Just as The Guardian had to do just two days ago regarding its claim about WikiLeaks and Putin, the Washington Post has now added an editor’s note to its story acknowledging that its key claim was false:
  • Is it not very clear that journalistic standards are being casually dispensed with when the subject is Russia?
Gary Edwards

The Thorium Powered Car - EPautos - 0 views

  • An internal combustion can burn gas and CNG (or propane). All that was necessary to allow the switch from one fuel to another was some additional plumbing and calibration of the car’s ECU (the computer that makes air-fuel ratio adjustments and so on). So, no worries about running empty – and no waiting for hours to refuel. Three, CNG was (is) cheap and burns very cleanly and is massively abundant right here in the U.S.  At a stroke, the three major charges leveled against the pure-gasoline-burning car are vacated. The CNG car hardly pollutes and it greatly reduces and potentially eliminates dependence on “foreign” oil. Also, the cost of the CNG car itself was within reason because no uber-elaborate technology was necessary (unlike electric cars and hybrid electric cars). Just some modifications to an existing car. Sure, there were some issues to be sorted out – the big one being making it easy (and safe) for the average person to refill the CNG tanks. But the technology of the car itself worked – and was economic.
  • So why wasn’t it developed? Perhaps precisely because it did work – and was economic. People could drive big – and powerful cars. At a reasonable cost. Well, they could have.
  • Here’s another, more recent one: The thorium-turbine powered car. Heat energy from the thorium – a weakly radioactive element (named after the Norse god Thor) that is estimated to be 3-4 times more naturally abundant than uranium and which contains 20 million times the energy as an equivalent lump of coal – is used to generate steam, which is then used to power a small turbine, which provides the motive force. The beauty of the system is that – like a nuclear submarine – the fuel lasts almost forever. Well, longer than you will last, probably. How’s 100 years sound? No more stopping for “gas”… ever. This alone would make current IC cars seem as wasteful of time (and energy) as current IC cars make electric cars look wasteful of time and energy. But wait, there’s more.
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  • Well, less. No emissions at all. Because nothing’s being burned, there’s no exhaust. Water to steam, expansion and contraction – and back again. Closed (and clean) loop. The Algoreans ought to be ecstatic. Yet there is dead silence. You can hear the crickets chirping. Is it because thorium is radioactive? The word is third rail to scientifically illiterate homo Americanus – who fears it in the same way a savage fears the voices coming out of the Talk Box (radio). The mere mention of the word is sufficient to incite a panic. It’s why the nuclear power grid is dead in the water; or rather, as old as a Betamax copy of Saturday Night Fever. But it’s not even the same thing. Thorium is mildly radioactive. Dr. Charles Stevens, CEO of Laser Power Systems – which is developing the technology, or at least, trying to – says: “The radiation can be shielded by a single sheet of aluminum foil.” 
  • Bear in mind that gasoline is a highly volatile, highly explosive liquid fuel. But most of us do not sweat having 15 or so gallons of the stuff sloshing around in our cars, because we’re used to it. Because we know the gas tank is well-protected and not likely to burst into flames. It could happen, sure. But the individual risk is very small – just as the individual risk posed by a thorium-turbine car’s low-level radioactivity is small. Well, would be. If such cars were to be produced. But, it doesn’t look like they will be. Stevens told Mashable that “the automakers don’t want to buy them” – so his company is focusing on other applications of the technology, including an air conditioner-size unit that could power an entire restaurant or hotel, eliminating the need for grid electricity. This ought to please the Algoreans, too – since the electric grid is powered mostly by coal and oil-fired utility plants. But, again, crickets. It kind of makes you wonder, doesn’t it?
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    "Why is it that alternative technologies that clearly do not work -  which are so gimped by functional and economic problems as to be not-viable on the market absent huge subsidies and even then, it's hard to give them away - continue to receive seemingly endless financial and political support … while technologies that actually might work better than current internal combustion engine technology can't seem to get any traction at all? Electric cars are hopeless. For more than a century now, generations of engineers have tried - and, so far, failed - to develop a battery that will endow an electric car with the range and reasonable recharge times necessary for everyday-driver viability… at a cost (not subsidized) that would make such a car a better choice, economically speaking, than an otherwise comparable gasoline (or diesel) powered car. Billions of dollars, probably, have been thrown at the electric car and - so far - no major technological improvement over a 1906 Baker Landolet. Meanwhile, whatever happened to the natural gas-burning car? Back in the mid-'90s, both Ford and GM built - and actually sold - natural-gas (CNG) fueled cars. Several things about them were interesting. One, they were big cars. Ford sold a CNG version of its six-passenger/full-size Crown Vic; GM sold a CNG version of the Vic's primary competition - the Chevy Caprice. Part of the reason for going with the big car as the platform was the need for a big trunk to house the CNG tank (and still have some trunk space left for people's things). But the take-home point was that you got a nice big family car - with a V8 engine - rather than a scrunched up subcompact. Two, they were practical. No range issue, because you had plenty (150-plus) on the CNG and the distance you could drive was not affected by the outside temperature or greatly reduced if you ran accessories like the AC and headlights, as it is in electric cars. And besides, when the C
Paul Merrell

Russian news: Ukraine Faces Stone Age. Russia Electricity to the Rescue - Russia Insider - 0 views

  • Let's review. Ukraine produces 45% of its electricity from nuclear power. Fuel for its reactors comes from Russia.It produces 40% of its electricity from thermal power. Since the war in East Ukraie coal for its plants comes from Russia.It produces 10% of its electricity from natural gas that also comes from Russia.Since Ukraine is still unable to produce enough electricity domestically Russia also supplies it with ready-made electricity.It's safe to say the only thing preventing a total Ukraine energy collapse is Russia.
  • Moscow and Kiev have signed an agreement on the supply of 9 billion kilowatt-hours of electricity to Ukraine, Russian Deputy Prime Minister Dmitry Kozak said.He added that Russia has already started the delivery, despite the fact that the terms of the agreement have not been fulfilled yet, and hopes for the subsequent payment."In order to reduce the blackouts and other existing problems we [Moscow and Kiev] have held negotiations on the supply of 9 billion kilowatt-hours of electricity to Ukraine.We have signed an agreement, but the terms of the contract are not currently fulfilled…
  • Nevertheless, under the instructions of the Russian president, the decision has been made to carry out such a delivery.Hopefully, the payments will be made in future," Russia 24 TV channel has quoted Kozak on its website as saying.In 2013, electricity consumption in Ukraine amounted to nearly 147 billion kilowatt-hours.Russian deputy prime minister also stated that the electricity will be delivered to Ukraine on favorable terms.
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  • "The supply of electricity is carried out at internal Russian prices, while the prices on Ukraine's energy market are much higher.We are doing it deliberately, due to the fact that one [power] unit at [Ukraine's] Khmelnytskyi Nuclear Power Plant has broken down," Kozak said.Due to the conflict in Ukraine's eastern regions, Kiev has lost a big part of its coal mines. The country is currently suffering from the lack of fuel for power generation and heating.
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    In closely-related news, NATO and the IMF announced that in light of the Russia-Ukraine electricity deal, NATO had canceled its plans to airdrop millions of stocking caps in Ukraine. The NATO/IMF decision is attributed by market analysts as the cause of a sudden 10 percent drop in the wool futures commodity markets. 
Paul Merrell

Power company prepares to cut supply to PA - Israel News, Ynetnews - 0 views

  • The Israel Electric Corporation CEO Eli Glickman warned Israel's security chiefs in a letter sent Sunday that the company would have to limit electricity to territories controlled by the Palestinian Authority and the Jerusalem District Energy Company (JEDCO) – which buys electricity from Israel and sells it to various cities in the West Bank – because of a debt totalling NIS 1,700,843,315.
  • The letter noted that as of December 31, debt owed by the Palestinian Authority and the Jerusalem District Electricity Company amounted to more than NIS 1.7 billion, of which NIS 1,054,914,845 were from the JDECO, and NIS 645,928,470 from the PA.  
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    In the wake of Israel's retaliation against the Palestinian Authority by witholding taxes it collects on behalf of the PA, the government owned Israel  Electric Company will now turn off the PA's electricity for non-payment. Note carefully that the vast majority of the debt owed is not owed by the PA, but by the heavily Israeli-colonized East Jerusalem Electric District. 
Paul Merrell

Solar power - 0 views

  • When homeowners or businesses install solar panels, state laws ensure utility companies pay for unused electricity that is routed back into the power grid - a practice known as net metering.
  • Currently, 43 states and the District of Columbia have implemented net metering policies, some of which are more favorable than others, but all of which turn the power grid into a two-way street. More like this Rooftop solar electricity on pace to beat coal, oil Solar industry jobs are growing at 20 times the national rate U.S. utilities face up to $48B revenue loss from solar, efficiency on IDG Answers How well do solar smartphone chargers work? The cost of rooftop solar-powered electricity will be on par with prices for common fossil-fuel power generation in just two years, and the technology to produce it will only get cheaper, according to Deutsche Bank's leading solar industry analyst, Vishal Shah. As Americans have warmed to solar power and its ability to reduce electricity bills, utilities are suffering revenue losses and have been seeking ways to recoup that money. Over the past several years, state utility commissions and legislatures have pursued policies that reduce the benefits of adopting distributed solar power systems for homeonwers and businesses.
  • For example, Hawaiian Electric Co. Inc. this year asked the state's Public Utilities Commission to abolish its net metering policy because customers with photovoltaic panels aren't paying their fair share of maintenance costs. Indiana legislators are pushing bills to make it more costly for consumers there to go with solar by reducing tax credits awarded for it. Legislation, such as HB1320, introduced by Indiana state Rep. Eric Koch, a Republican, would compel fixed charges on customer bills and reduce tax credits. The bill comes as the solar industry is fighting to get on its feet in the Hoosier state. Koch, has said the bill's purpose is "to promote and grow net metering." Democratic state Rep. Matt Pierce said the bill "would effectively end net metering" by eliminating the incentive to deploy solar power.
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  • Other states, such as Arizona, California, Hawaii, Idaho, Ohio, New Mexico, Louisiana, and Wisconsin, are discussing or have passed revisions to their net metering policies that would included fixed monthly surcharges for residences and businesses that install solar to make it less competitive with conventional forms energy.
  • The Union of Concerned Scientists (UCS), a nonprofit science advocacy organization, believes pressure on legislators to reduce the benefits consumers reap from renewable energy are being led by a small number of industry-supported lobbying groups. The results of lobbying efforts have been a mixed bag. In certain states, fossil fuel and utility lobbyists have had little effect, but in states such as Kansas, there have been efforts to roll back renewable energy standards for the past two years.
Paul Merrell

U.S. Solar Is Producing 50 Percent More Electricity Than We Thought - Plugged In - Scie... - 0 views

  • Actual solar electricity production in the United States is 50% higher than previous estimates, according to new analysis by the Solar Energy Industries Association (SEIA) and kWh Analytics. All told, analysts found that solar energy systems in the U.S. generated 30.4 million megawatt-hours (MWh) of electricity in the 12 months ending in March 2015. Three states - California, Arizona, and Hawaii – can now say that solar provides more than 5% of their total annual electricity demand. The new estimate includes generation from behind-the-meter solar systems, which is not included in estimates produced by the Energy Information Administration (EIA). The EIA uses solar power generation information collected with their Form 923 survey, which only applies to utility-scale power plants that have more than 1,000 kW in solar generation capacity (i.e. are larger than 1,000 kWac). Given that the average solar PV system that you will find on the rooftops of houses in the U.S. has just 5 kWac of generation capacity, the electricity that they produce is not captured in EIA statistics. 
  • As a result, the EIA estimated that solar power produced 20.2 million MWh of electricity over the 12 months ending in March 2015 compared to the 30.4 million MWh published in the analysis from SEIA and kWh Analytics. 
Paul Merrell

WA State Bill Proposes Criminalizing Help to NSA, Turning Off Resources to Yakima Facil... - 0 views

  • The state level campaign to turn off power and electricity to the NSA got a big boost Wednesday. In a bipartisan effort, Washington became first state with a physical NSA location to consider the Fourth Amendment Protection Act, designed to make life extremely difficult for the massive spy agency. Rep. David Taylor (R-Moxee) and Rep Rep. Luis Moscoso (D- Mountlake Terrace) introduced HB2272 late Tuesday night. Based on model language drafted by the OffNow coalition, it would make it the policy of Washington “to refuse material support, participation, or assistance to any federal agency which claims the power, or with any federal law, rule, regulation, or order which purports to authorize, the collection of electronic data or metadata of any person pursuant to any action not based on a warrant.” Practically speaking, the bill prohibits state and local agencies from providing any material support to the NSA within their jurisdiction. This includes barring government-owned utilities from providing water and electricity. It makes information gathered without a warrant by the NSA and shared with law enforcement inadmissible in state court. It blocks public universities from serving as NSA research facilities or recruiting grounds. And it disincentivizes corporations attempting to fill needs not met in the absence of state cooperation.
  • The state level campaign to turn off power and electricity to the NSA got a big boost Wednesday. In a bipartisan effort, Washington became first state with a physical NSA location to consider the Fourth Amendment Protection Act, designed to make life extremely difficult for the massive spy agency. Rep. David Taylor (R-Moxee) and Rep Rep. Luis Moscoso (D- Mountlake Terrace) introduced HB2272 late Tuesday night. Based on model language drafted by the OffNow coalition, it would make it the policy of Washington “to refuse material support, participation, or assistance to any federal agency which claims the power, or with any federal law, rule, regulation, or order which purports to authorize, the collection of electronic data or metadata of any person pursuant to any action not based on a warrant.” Practically speaking, the bill prohibits state and local agencies from providing any material support to the NSA within their jurisdiction. This includes barring government-owned utilities from providing water and electricity. It makes information gathered without a warrant by the NSA and shared with law enforcement inadmissible in state court. It blocks public universities from serving as NSA research facilities or recruiting grounds. And it disincentivizes corporations attempting to fill needs not met in the absence of state cooperation.
  • Lawmakers in Oklahoma, California and Indiana have already introduced similar legislation, and a senator in Arizona has committed to running it there, but Washington counts as the first state with an actual NSA facility within its borders to consider the Fourth Amendment Protection Act. The NSA operates a listening center on the Army’s Yakima Training Center (YTC). The NSA facility is in Taylor’s district, and he said he cannot sit idly by while a secretive facility in his own backyard violate the rights of people everywhere. “We’re running the bill to provide protection against the ever increasing surveillance into the daily lives of our citizens,” he said. “Our Founding Fathers established a series of checks and balances in the Constitution. Given the federal government’s utter failure to address the people’s concerns, it’s up to the states to stand for our citizens’ constitutional rights.”
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  • According to documents made public by the US Military, as of 2008, a company called PacifiCorp serves as the primary supplier of electric power, and Cascade Natural Gas Corporation supplies natural gas to YTC. The Kittitas Public Utility District, a function of the state of Washington, provides electric power for the MPRC and the Doris site, but no documentation has yet proven that it also provides electricity used directly by the NSA facility on site. And while YTC does provide a bulk of its own water, documents also show that some of it gets there by first passing through upstream dams owned and operated by the State. The Army report states, “YTC lies within three WAUs whose boundaries coincide with WRIAs, as defined by the State of Washington natural resource agencies.” WAU’s are Washington State Water Administration Units. WRIAs are Washington State Water Resource Inventory Areas A Washington company also has a strong link to the NSA. Cray Inc. builds supercomputers for the agency.
  • If the bill passes, it would set in motion actions to stop any state support of the Yakima center as long as it remains in the state, and could make Cray ineligible for any contracts with the state or its political subdivisions. Three public universities in Washington join 166 schools nationwide partnering with the NSA. Taylor’s bill would address these schools’ status as NSA “Centers of Academic Excellence,” and would bar any new partnerships with other state colleges or universities. Tenth Amendment Center national communications director Mike Maharrey says the bills prohibition against using unconstitutionally gathered data in state court would probably have the most immediate impact. In fact, lawmakers in Kansas and Missouri will consider bills simply addressing this kind of data sharing.
  • “We know the NSA shares data with state and local law enforcement. We know from a Reuters report that most of this shared data has absolutely nothing to do with national security issues. This bill would make that information inadmissible in state court,” he said. “This data sharing shoves a dagger into the heart of the Fourth Amendment. This bill would stop that from happening. This is a no-brainer. Every state should do it.” Maharrey said he expects at least three more states to introduce the act within the next few weeks. “This idea is catching fire,” he said. “And why wouldn’t it? We have an out of control agency spying on virtually everybody in the world. We have a president and a Congress that appears poised to maybe put a band aid on it. Americans are realizing if we are going to slow down the NSA, we are going to have to take a different approach. This is it.”
Gary Edwards

Startup turns carbon dioxide into fuels - 0 views

  • The research has received funding from the Air Force Office of Scientific Research (AFSOR), the National Science Foundation and the Department of Energy (DOE). The collaboration between Liquid Light and the University was supported by the DOE Small Business Innovation Research program and the AFOSR Small Business Technology Transfer program. Princeton's agreement with Liquid Light allowed the company to continue to collaborate with Bocarsly and his research team. Before long, new discoveries were emerging. "They started noticing interesting chemistry that we wouldn't have predicted," said Bocarsly.
  • The Princeton scientists did some additional studies, and made a surprising discovery: They could turn CO2, which contains only one carbon, into a compound with a carbon-carbon bond, which vastly increases the possibilities for creating commercial applications. This was radical because although the reaction is certainly possible, it is highly unlikely to happen because so many other competing reactions are occurring. "Everyone who electrochemically reduces CO2 today makes compounds with only one carbon," said Bocarsly. "Nobody makes things with carbon-carbon bonds." He paused. "But we can." "That was a very 'wow' moment," recalled Cole, "because we thought that our process could only make methanol. But now we were finding that we could make a variety of products, and that is what makes this technology commercially interesting." She said Liquid Light scientists can now make more than 20 different products from CO2.
  • One of the chemicals Liquid Light can make is isopropanol, commonly known as rubbing alcohol and an important industrial chemical. Another is butanol, which could be commercially important as a fuel. Liquid Light's technology offers the potential to make these chemicals at lower cost than today's methods, which involve starting with fossil fuels such as petroleum and natural gas.
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  • Why does pyridinium work so well as a catalyst for the reaction? Based on its structure, the ring-shaped molecule is an unlikely catalyst for this reaction because it shuttles just one electron at a time. But to convert CO2 to methanol requires six electrons, and to make higher-carbon molecules takes even more electrons. Bocarsly and his team — in collaboration with Steven Bernasek, professor of chemistry — are doing studies to understand the steps in the chemical reaction, and they are making rapid progress. "There are clearly some intermediate products formed during the reaction that do not sit around for a long time and are not there in very high concentrations," said Bocarsly.
  • The Princeton team also is studying the factors that determine which products can be made from CO2. The researchers have found that very subtle changes in the electrode surface can lead to production of different chemicals. For example, CO2 plus a pyridinium catalyst and a platinum electrode make methanol. However, the same catalyst and a different electrode give a different product. The team published its findings on how the reaction is affected by catalyst concentration, temperature and pressure in the journal ChemSusChem last year.
  • Citing government statistics that the United States generates about 5.5 billion metric tons of CO2 per year, Teamey said it will not be hard to obtain the starting materials for this new industry. However, the CO2 needs to be relatively pure, a requirement that rules out gasoline tailpipes and coal-fired power plants. Instead, said Teamey, the CO2 could come from manufacturing facilities, such as fertilizer manufacturers and cement plants, which according to Teamey emit some 100 million tons of high-purity CO2 each year.
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    "Today, carbon dioxide (CO2) is a hot topic. Scientists around the globe are searching for ways to store, dispose of, or prevent the formation of the greenhouse gas, which is a major driver of global climate change. Liquid Light hopes to take this concept one step further and harness waste CO2 as a source of carbon to make industrial chemicals and fuels. The technology behind the process is simple: Take CO2 and mix it in a water-filled chamber with an electrode and a catalyst. The ensuing chemical reaction converts CO2 into a new molecule, methanol, which can be used as a fuel, an industrial solvent or a starting material for the manufacture of other chemicals. Liquid Light's founders include Bocarsly and his former graduate student Emily Cole, who earned her Ph.D. from Princeton in 2009. Cole helped revive efforts in Bocarsly's lab to study the conversion of CO2 into usable fuels, which led to the launch of Liquid Light and an ongoing collaboration that Bocarsly said has been extremely positive for his research team at the University. "We've made some discoveries that wouldn't have been made in a university setting, and this has really accelerated the research," Bocarsly said. "It is a very productive relationship." Back in the 1990s, a former Ph.D. student of Bocarsly's named Chao Lin conducted some of the earliest experiments on turning CO2 into methanol. He used palladium metal as the electrode and pyridinium, an inexpensive ring-shaped molecule, as the catalyst. By plugging the electrode into an electrical outlet, he could drive an electrochemical reaction that converted CO2 into methanol. As Bocarsly recalled, Lin was quite excited about his success. However, said Bocarsly, "We published that finding in 1994 and there was approximately zero interest in it." The work languished until 2005 when Cole, then a new graduate student, told Bocarsly she wanted to work on a clean-energy project. She took up the challenge of reproducing Lin's results, but this time
Gary Edwards

Federal Loans Fund Big-Ticket Energy Projects At Firms Outside Of U.S. | Fox News - 0 views

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    Solyndra II - The Spanish company, Abenoga has recieved a massive DOE taxpayer funded "investment".  Looks like another example of corrupt Obama crony socialism and blatant money laundering for the Socialist party, USA. According to the U.S. Energy Information Administration (EIA), such solar thermal power is far and away the most expensive option that it considered in projecting the cost of new electricity technologies over the next four years.Using a complex calculation known as "levelized cost," EIA says that solar thermal energy will weigh in at $311.60 per megawatt/hour, vs. $210.70 for more conventional solar paneling, and $113.90 for "advanced nuclear."Click here for the EIA cost estimatesCompared to more conventional energy sources, solar thermal is even pricier -- much pricier. The EIA says that natural gas-fueled energy plants, even using advanced techniques to remove carbon from their emissions, would cost $89.3 per megawatt/hour, while ordinary gas fueled natural gas generation would cost $66.10.A conventional coal-fired electrical plant -- anathema in green circles -- would provide energy at $94.80 per megawatt/hour, and one equipped with "clean" coal technology and sequestration of carbon emissions would provide electricity at a cost of $136.20 per megawatt/hour.The second-most pricey option on the EIA list, after solar thermal, is energy from wind turbines placed in the ocean, which comes in at $243.20 per megawatt/hour.In other words, even that difficult and costly-to-produce energy source is projected to cost only three-quarters as much. Read more: http://www.foxnews.com/politics/2011/09/22/federal-loans-fund-big-ticket-energy-projects-at-firms-outside-us/?intcmp=obinsite#ixzz1Zs0en100
Paul Merrell

30 Major U.S. Companies Spent More on Lobbying than Taxes - DailyFinance - 0 views

  • Thirty large American corporations spent more money on lobbying than they paid in federal taxes from 2008 to 2010, according to a report from the nonpartisan reform group Public Campaign. All of the companies were profitable at the time. In spite of this, and the massive federal budget deficit, 29 out of the 30 companies featured in the study managed through various legal tax-dodging measures to pay no federal income taxes at all from 2008 through 2010. The lone exception, FedEx (FDX), paid a three-year tax rate of 1%, nowhere near the 35% called for by the federal tax code. In fact, the report explains, the 29 companies that paid no tax actually received tax rebates over those three years, "ranging from $4 million for Corning (GLW) to nearly $5 billion for General Electric (GE)." The total value of the rebates received was nearly $11 billion; combined profits during the same period were $164 billion.
  • The amounts spent on lobbying ranged from $710,000 by Intergrys Energy Group to $84 million by General Electric. Others that spent heavily on lobbyists were PG&E (PCG), Verizon (VZ), Boeing (BA) and FedEx. It all added up to a total of almost half a billion dollars -- $476 million -- over three years. Or, as the report notes, "in other words, roughly $400,000 each day, including weekends." The same firms spent an additional $22 million on donations to federal campaigns. Logically enough, the two biggest contributors were defense contractors: Honeywell International (more than $5 million) and Boeing ($3.85 million). General Electric wasn't far behind ($3.64 million). For a complete list of the companies surveyed, as well as information on executive compensation, read the full report.
Paul Merrell

Exposed: Google's "Smart Home" Surveillance Plans, or, How To Not Be Colonized | TBYP - 0 views

  • Two weeks ago, the New York Times’ truth-humor strip on “The Home of the Future” came on the heels of Google’s purchase of ‘smart thermostat’ manufacturer Nest for $3.2 Billion.  With power utility commissions such as California already stating their intention to “expand third-party access” to in-home data, the perfect storm is brewing for Google’s mission of making you their product – even in your own home. For context, this is the same Google whose executive chairman, Eric Schmidt, told MSNBC: “If you have something that you don’t want anyone to know, maybe you shouldn’t be doing it in the first place.”
  • So where does a ‘smart thermostat’ fit in the current corporatist drive for total in-home surveillance? For the last couple of years, utilities around the globe have all been touting their new metering systems with buzzwords such as ‘smart’, ‘advanced’, ‘upgraded’, or ‘modernized’.  All rhetoric aside, these devices are intended to integrate with all appliances in your home to form an inescapable wireless data-mining dragnet, dubbed as the “home area network”, with your HVAC and likely other in-home systems overseen by spy-giant Google, if they get their way. As we’ve seen, even former CIA director David Patraeus was publicly frothing over having the ability to spy through ‘smart’ appliances, intended to wirelessly report back to the meter continuously, while receiving energy-use dictates from the meter. According to a US Congressional Research Report:
  • “With smart meters, police will have access to data that might be used to track residents’ daily lives and routines while in their homes, including their eating, sleeping, and showering habits, what appliances they use and when, and whether they prefer the television to the treadmill, among a host of other details.” Smart grid planners and working groups have even laid these aims out in their internal roadmaps, citing goals such as “new tools for mining data and intel” and “data mining and analytics to become core competency” (see slide 17).
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  • So what can be done to protect rights?  While people cannot vote to prevent corporations from making products such as data-mining thermostats appliances, they do have a voice as utilities try their best to deploy the home-colonizing meters.  Public resistance to ‘smart’ meter deployments has predictably been considerable, as people are learning about not only surveillance capabilities, but also skyrocketing electricity costs, time-of-use billing, risk of fires, home hackability, electrical quality degradation and functional impairments from pulsed microwave radiation — amazingly, all being linked to the new utility metering system.
  • Despite pilot programs indicating no energy savings and mounting opposition now from several hundred activist groups, federal governments such as the US are continuing with their push to incentivize utilities to push forward ‘smart’ grid deployment. Apparently, having a piece of the $11 Billion taxpayer-funded ‘smart’ grid pie, pushed through by the Obama Administration immediately following the 2008 election, is sufficient motivation for utility executives to steamroll forward despite the growing resistance. As an example, PECO, a major utility in Pennsylvania, is slated to receive $200 Million in stimulus funding if they can deploy 600,000 ‘smart’ meters by April 2014. Significantly, anyone can choose to protect their in-home rights by saying no to the deployment of a ‘smart’ meter on their home.  There are no legal requirements in any country or region for an energy customer to accept a ‘smart’ meter.
  • However, utilities are using tactics of intimidation, propaganda, and tacit acceptance – which means that unless you said a clear “no”, they assume a “yes.” In some cases even with a homeowner’s refusal, utilities are forcibly deploying anyway, apparently assuming the liability for doing so, risking litigation. So Google has played their hand with the $3.2 Billion purchase of Nest, desiring to capture the worldwide ‘smart’ home data-mining market, and praying to the all-spying-eye that people will stay tethered to their ‘smart’ wireless toys as their rights roll swiftly towards a cliff.  But will awareness eventually reach a game-changing crescendo?  It seems as though the potential exists. If we want to experience a future other than being ruled by technocrats, now is the time to speak up – even if facing the situation isn’t convenient.  People simply need to know the facts. As stated by former Apple executive Jeffrey Armstrong in our film Take Back Your Power, the question of whether homes will remain free of invasive ‘smart’ metering and appliance technology is “a test case for a technological democracy, if I have ever seen one.” 
Paul Merrell

Utah lawmaker questions city water going to NSA - 0 views

  • SALT LAKE CITY – A Utah lawmaker concerned about government spying on its citizens is questioning whether city water service should be cut off to a massive National Security Agency data storage facility outside Salt Lake City.Republican Rep. Marc Roberts, of Santaquin, said there are serious questions about privacy and surveillance surrounding the center, and several Utah residents who spoke at a legislative committee hearing Wednesday agreed.During the last legislative session, lawmakers opted to hold off on Roberts' bill to shut off the facility's water and decided to study it during the interim."This is not a bill just about a data center. This is a bill about civil rights," web developer Joe Levi said. "This is a bill that needs to be taken up and needs to be taken seriously."Pete Ashdown, founder of Salt Lake City-based Internet provider XMission, called the center a stain upon the state and its technology industry. "I do encourage you to stand up and do something about it," he said.Lawmakers said they aren't considering shutting down $1.7 billion facility, but the committee chair acknowledged the concerns and said there might be another way to get the point across. "We may look at some type of a strong message to give our representatives to take back to Congress," said Republican Sen. David Hinkins, of Orangeville.
  • The NSA's largest data storage center in the U.S. was built in Utah over 37 other locations because of open land and cheap electricity. The center sits on a National Guard base about 25 miles south of Salt Lake City in the town of Bluffdale.NSA officials said the center is key to protecting national security networks and allowing U.S. authorities to watch for cyber threats. Beyond that, the agency has offered few details.The center attracted much discussion and concern after revelations last year that the NSA has been collecting millions of U.S. phone records and digital communications stored by major Internet providers.
  • Cybersecurity experts say the nondescript Utah facility is a giant storehouse for phone calls, emails and online records that have been secretly collected.Outside the computer storehouses are large coolers that keep the machines from overheating. The coolers use large amounts of water, which the nearby city of Bluffdale sells to the center at a discounted rate.City records released earlier this year showed monthly water use was much less than the 1 million gallons a day that the U.S. Army Corps of Engineers predicted the center would need, causing some to wonder if the center was fully operational.NSA officials have refused to say if the center is up and running after its scheduled opening in October 2013 was stalled by electrical problems.City utility records showed the NSA has been making monthly minimum payments of about $30,000 to Bluffdale. The city manager said that pays for more water than the center used.The state of Nevada shut off water to the site of the proposed Yucca Mountain nuclear waste dump 90 miles northwest of Las Vegas in 2002, after months of threats.The project didn't run dry because the Energy Department built a 1-million-gallon tank and a small well for the site. Department officials said the stored water, plus 400,000 gallons stored in other tanks at the Nevada Test Site, provided time for scientists to continue experiments and design work at the site.
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  • SALT LAKE CITY – A Utah lawmaker concerned about government spying on its citizens is questioning whether city water service should be cut off to a massive National Security Agency data storage facility outside Salt Lake City.Rep
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    Hey, go for their electricity too! But what do we do with the Bluffdale facility after we abolish the NSA? Turn it over to Internet Archives, with a $1 billion endowment for maintenance? Free and permanent web sites for everyone?  
Paul Merrell

Friends of the Earth - 0 views

  • Tell Chairman Macfarlane: Shut down Diablo Canyon! This week, the Associated Press revealed that the nuclear reactors at Diablo Canyon are surrounded by faults capable of causing an earthquake far larger than they were designed to withstand. There is no way that the NRC should allow these reactors to continue to operate given this new information. Demand that Chairman Macfarlane put peoples' safety ahead of profits and shut down Diablo Canyon!
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    Dear Chairman Macfarlane: It has come to my attention that the former Senior Resident Inspector at the Diablo Canyon Nuclear Power Plant filed a differing professional opinion with the NRC in which he recommended that the Commission shut Diablo Canyon while addressing the fact that the reactors and internal equipment are no longer correctly tested and licensed given new earthquake information that exists in regard to the Shoreline, Los Osos and San Luis Bay faults which surround the plant. It is unconscionable that the NRC has allowed Diablo Canyon to continue operating without fully analyzing seismic threats to the reactors.  It is also astonishing to me that your agency has not only failed to act on this report but has suppressed the publication of the report despite the request by the author that his paper be made public. I understand that Friends of the Earth has now petitioned the agency to close the reactors and to force Pacific Gas and Electric to undergo a public licensing review should they wish to continue to operate these reactors.  I strongly support this petition and ask that you take immediate action to comply. As a geologist, I am sure that you are aware that USGS technical staff posit that the Shoreline, Los Osos, San Luis Bay, and Hosgri faults could be connected, potentially causing larger earthquakes than Diablo Canyon was designed to withstand. According to PG&E itself, the Shoreline, Los Osos and San Luis Bay faults could all produce ground motion beyond that considered as the basis for both Diablo's license and safety evaluation. This means that the reactors and internal equipment have not been tested and certified to withstand the kind of earthquakes that we now know are possible in the area. This is unacceptable. If there were a proposal to build reactors on the Diablo Canyon site today, there is no way, knowing what we do now, that it would be accepted. Don't let what we didn't know decades ago be an excuse for keeping people an
Paul Merrell

New Hydrogen Electric Fuel Cell Truck Factory Rumbles Into Arizona - 0 views

  • In another sign that the field of zero emission transportation is accelerating, the company Nikola has announced plans to build a new truck factory in Arizona. These aren’t pick-ups or other light duty vehicles. The company’s Nikola 1 model is built for long hauls and heavy loads, with an electric drive train powered by a hydrogen fuel cell system.With plans for the new factory firming up, it looks like Nikola’s plan for hydrogen long haul trucking is on the road to realization. It’s also another sign that the trucking industry is slowly beginning to abandon the idea of “clean diesel” for a more sustainable future.Nikola’s Hydrogen Fuel Cell Electric TruckThe latest announcement is certainly good news for Arizona. The new factory, located near Phoenix in the town of Buckeye, is expected to create 2,000 jobs and stimulate capital investment to the tune of $1 billion within the next six years or so.The news is also bad for Utah, which is losing Nikola’s current headquarters. The company plans to transfer its R&D work to Arizona as well as building trucks there.The company already has 8,000 trucks on pre-order, and so far it looks like everything is on track to have the factory up and running within two years.
Paul Merrell

Cut Off the NSA's Juice | Global Research - 0 views

  • The National Security Agency depends on huge computers that guzzle electricity in the service of the surveillance state. For the NSA’s top executives, maintaining a vast flow of juice to keep Big Brother nourished is essential — and any interference with that flow is unthinkable. But interference isn’t unthinkable. And in fact, it may be doable. Grassroots activists have begun to realize the potential to put the NSA on the defensive in nearly a dozen states where the agency is known to be running surveillance facilities, integral to its worldwide snoop operations. Organizers have begun to push for action by state legislatures to impede the electric, water and other services that sustain the NSA’s secretive outposts.
  • Those efforts are farthest along in the state of Washington, where a new bill in the legislature — the Fourth Amendment Protection Act — is a statutory nightmare for the NSA. The agency has a listening post in Yakima, in the south-central part of the state. The bill throws down a challenge to the NSA, seeking to block all state support for NSA activities violating the Fourth Amendment. For instance, that could mean a cutoff of electricity or water or other state-government services to the NSA site. And the measure also provides for withholding other forms of support, such as research and partnerships with state universities. Here’s the crux of the bill: “It is the policy of this state to refuse material support, participation, or assistance to any federal agency which claims the power, or with any federal law, rule, regulation, or order which purports to authorize, the collection of electronic data or metadata of any person pursuant to any action not based on a warrant that particularly describes the person, place, and thing to be searched or seized.” If the windup of that long sentence has a familiar ring, it should. The final dozen words are almost identical to key phrases in the Fourth Amendment of the U.S. Constitution.
  • In recent days, more than 15,000 people have signed a petition expressing support for the legislation. Launched by RootsAction.org, the petition is addressed to the bill’s two sponsors in the Washington legislature — Republican Rep. David Taylor, whose district includes the NSA facility in Yakima, and Democrat Luis Moscoso from the Seattle area. Meanwhile, a similar bill with the same title has just been introduced in the Tennessee legislature — taking aim at the NSA’s center based in Oak Ridge, Tenn. That NSA facility is a doozy: with several hundred scientists and computer specialists working to push supercomputers into new realms of mega-surveillance capacities. A new coalition, OffNow, is sharing information about model legislation. The group also points to known NSA locations in other states including Utah (in Bluffdale), Texas (San Antonio), Georgia (Augusta), Colorado (Aurora), Hawaii (Oahu) and West Virginia (Sugar Grove), along with the NSA’s massive headquarters at Fort Meade in Maryland. Grassroots action and legislative measures are also stirring in several of those states.
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  • “By working together to tackle the erosion of the Fourth Amendment presented by bulk data collection,” Kellegrew said, “people from across partisan divides are resurrecting the lost art of collaboration and in the process, rehabilitating the possibility of a functional American political dialogue denied to the people by dysfunction majority partisan hackery.” From another vantage point, this is an emerging faceoff between reliance on cynical violence and engagement in civic nonviolence.
  • Serving the warfare state and overall agendas for U.S. global dominance to the benefit of corporate elites, the NSA persists in doing violence to the Constitution’s civil-liberties amendments — chilling the First, smashing the Fourth and end-running the Fifth. Meanwhile, a nascent constellation of movements is striving to thwart the surveillance state, the shadowy companion of perpetual war. This is a struggle for power over what kind of future can be created for humanity. It’s time to stop giving juice to Big Brother.
Paul Merrell

Out of Gas: Turkey is Losing Its Battle with Russia | Observer - 0 views

  • Turkey has told the Reuters news agency that Russia has stopped work on its nuclear power plants.  In reality, the Turks are exaggerating.  The Russians haven’t really stopped—they have really only slowed down. It is another piece in the intensifying conflict that has enveloped Russia and Turkey over the downing of a Russian AU-24 slow moving bomber by a Turkish F-16 fighter jet. The nuclear deal began in 2013. The Turks promised to pay $20 billion and the Russian nuclear company Rosatom promised to build four 1,200 megawatt nuclear electrical power plants in Turkey. The first plant was scheduled to be opened in 2019, but from the very outset things have not run on schedule.  One reason is that the project confronted international regulatory problems.
  • The Russians have done this before—only with Iran.  They slowed down on the original proposal, Iran took the Russians to the World Court, and sued them. They wanted their nuclear plants.
  • Now, because of their experience with Iran, Russia realizes that stopping entirely would prove costly. Huge disincentives and penalties are built into the contract.  And Turkey has already started shopping around for someone else to finish the nuclear job. Good luck. Here is the crux of the problem and why Turkey can never win in this conflict with Russia. Turkey is almost totally dependent on imported energy. They have been counting on these nuclear plants and should be conducting back-door diplomatic negotiations to resurrect the deal , but they do not appear to be doing that. Tensions between the Turks and Russians do not seem to be dissipating. So much so that Russia has also stopped importing Turkish fruits and vegetables. The reason they give is poor Turkish sanitation and hygiene, but the real reason is because the jet shot down the bomber. This isn’t  just a case of no more Turkish pistachio nuts or dates. Turkish fruits and vegetables account for 20 percentof Russia’s total fruit and vegetable consumption. This is a huge loss for the Turkish economy.  A $4 billion annual loss in fruit and vegetable revenue. Russia has said they will easily make up the loss by importing more from Iran and Israel.
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  • Turkey cannot get that much gas replaced.  They are in public conflict not only with Russia but also with alternative suppliers.  They sided with the Muslim Brotherhood so Egypt will not supply them.  They have been very aggressively critical of Saudi Arabia so they will not supply them.  There is always Israel and Israel could, potentially, help supply Turkey’s natural gas needs—but Turkey, a former ally of the Jewish state, has been openly hostile to Israel. The Russian minister of agriculture has said, “Allah has already decided to punish Turkey’s ruling clique, depriving them of mind and reason.” For their part, Turkey is counting on the help of the EU and the general disdain almost everyone has for Putin and his style of leadership especially in the aftermath of Russia’s land grab on Crimea and their invasion of Ukraine. But Turkey is misreading the situation.  Just because the world criticizes Putin and Russia it does not translate into action.
  • Russia has also cancelled the junkets and all expense included holiday vacation trips that Russians make  every year to Turkey.  The numbers tell the complete story. Last year 3.3 million Russians vacationed in Turkey.  That was 10 percent of all the tourists that visited Turkey. For Russia, however pleasant they were, these vacations are not essential and they will find someplace else to fill their vacation needs.  Turkey, however, will not find 3.3 million other tourists. Russia wants to punish Turkey.  That should be clear.  And Vladimir Putin definitely has the ability to make things difficult for Turkey.  The balance of trade is pretty clear. Russia purchases $30 billion in goods from Turkey per year. All of those services are easily replaced elsewhere. But Turkey relies on Russia for $20 billion of natural gas every year.  If that flow is even slightly altered, even for a single day—Turkey will grind to a halt.  That natural gas engines Turkey’s electric grid. Gas is next. Russia will start pulling it.  They have already cancelled work on the underwater gas pipeline which, together with the nuclear electric plants, would eventually make Turkey more energy independent.
  • This is the case even in the Middle East. Russia marched into Syria, set up a huge air-force base, and established a significant presence.  The West warned the Russians not to put boots on the ground.  Russia went in anyway and their actions were met with only a few tepid condemnations.  When the Turkish F-16 jet shot down the SU-24 Russia bomber, that’s when international voices were raised— and they were raised to urge calm and deescalate tensions, not to blame Russia. Turkey thinks that because there are UN sanctions against Russia there is a way to leverage that power and squeeze Russia.  If the world stood by when Russian military pranced into Ukraine and Crimea how can Turkey expect them to act now? Russia will get away with everything.  And despite pressure that Turkey is trying to apply—the real pressure will be placed by Russia on Turkey.  No one is willing to step forward and help Turkey.  If this continues, Russia will destroy them.
Paul Merrell

Natural Disasters Are Revealing The True Promise Of Green Energy - 0 views

  • After Hurricane Irma in Florida, millions have been without electricity. But those Floridians who had solar panels plus an inverter or a Tesla powerwall were able to recover electricity immediately. Likewise, cities used solar to power traffic lights and other essential services after the huge storm had blown past. Solar panels kept the lights on in India during the horrific storms and floods of monsoon this year. The CEO of REC, Steve O’Neil which makes solar panels, reveals some amazing progress on green energy:
  • In 2010, there were 50 gigawatts of solar power in the world. Today it is 305 gigawatts. Globally, solar installations increased by 50% in 2016 alone. The average cost of solar-generated electricity worldwide is currently 8 cents a kilowatt hour. That is down 70% since 2010.
  • ome on down to 2 cents a kilowatt hour in only a few years. India, a country of 1.2 billion people, has the seventh largest gross domestic product in the world (ahead of Italy and Brazil and just behind France). India has gone from having 2.65 gigawatts of solar in 2014 to having 13 gigawatts of solar capacity in 2017.
Gary Edwards

The Daily Bell - What TARP Boss Neil Barofsky Told Me Yesterday Should Shock You - 1 views

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    " The Daily Bell Newswire Editorial FRIDAY, MAY 17, 2013 What TARP Boss Neil Barofsky Told Me Yesterday Should Shock You By Bill Bonner 8 Bill Bonner The financial news is getting boring. The Dow goes only one way - up. But gold fell below $1,400 per ounce yesterday. Rather than trying to figure it out, yesterday evening we drove down to Zombietown. A friend in Washington had promised to introduce us to Neil Barofsky, inspector general of the TARP program. You remember TARP? It was the feds' $700 billion program to rescue the US economy from a correction. Neil Barofsky was in charge of it. So we decided to go down and ask him how it turned out... Meanwhile, in yesterday's International Herald Tribune was a small note: "Economists agree that spending cuts and tax increases have slowed the US recovery." Readers will recognize this as the usual claptrap. Government spending does not bring a genuine "recovery." C'mon... how many times do we have to explain? You take $5 worth of resources and give them to an armed 19-year-old in Afghanistan. He shoots a round or two into a mountainside... poof... the $5 is gone. Or you have an ATF official. He's idling his motor as he stakes out a house believed to be used by a cigarette smuggler. In a few minutes, or even seconds, the $5 has vanished. Or give the money to a disabled person; he buys a MoonPie and a Coke. Economists may record the spending as part of GDP... But how are you better off? You're $5 poorer, not $5 richer. But GDP growth is something economists feel they can control. So they go to work on it like a sex maniac strangling a prostitute. Nothing good comes of it. But at least they get results. And here comes Paul Krugman with more garroting wire! The New York Times Magazine: Keynesian economics rests fundamentally on the proposition that macroeconomics isn't a morality play - that depressions are essentially a technical malfunction. As the Great Depression deepened, Keynes famously declared
Gary Edwards

75 Economic Numbers From 2012 That Are Almost Too Crazy To Believe - 0 views

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    Thanks to Marbux we have this extraordinary collection of facts and figures describing the economic catastrophe that has hit the USA.  excerpt: "What a year 2012 has been!  The mainstream media continues to tell us what a "great job" the Obama administration and the Federal Reserve are doing of managing the economy, but meanwhile things just continue to get even worse for the poor and the middle class.  It is imperative that we educate the American people about the true condition of our economy and about why all of this is happening.  If nothing is done, our debt problems will continue to get worse, millions of jobs will continue to leave the country, small businesses will continue to be suffocated, the middle class will continue to collapse, and poverty in the United States will continue to explode.  Just "tweaking" things slightly is not going to fix our economy.  We need a fundamental change in direction.  Right now we are living in a bubble of debt-fueled false prosperity that allows us to continue to consume far more wealth than we produce, but when that bubble bursts we are going to experience the most painful economic "adjustment" that America has ever gone through.  We need to be able to explain to our fellow Americans what is coming, why it is coming and what needs to be done.  Hopefully the crazy economic numbers that I have included in this article will be shocking enough to wake some people up. The end of the year is a time when people tend to gather with family and friends more than they do during the rest of the year.  Hopefully many of you will use the list below as a tool to help start some conversations about the coming economic collapse with your loved ones.  Sadly, most Americans still tend to doubt that we are heading into economic oblivion.  So if you have someone among your family and friends that believes that everything is going to be "just fine", just show them these numbers.  They are a good summary of the problems that the U
Gary Edwards

The Biggest Price-Fixing Scandal Ever - and the VESTS Solution - 0 views

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    excerpt: Uber financial investigative journalist Matt Taibbi has discovered what we too realized when we began to scrutinize the financial industry. In his latest article, he writes, "Everything Is Rigged: The Biggest Price-Fixing Scandal Ever." The article's cut line is, "The Illuminati were amateurs. The second huge financial scandal of the year reveals the real international conspiracy: There's no price the big banks can't fix." Taibbi's incredulity is evident throughout the article, as well it should be. The interest-rate swap market is part of the larger derivatives market that totals over one billion TRILLION dollars............................... "Given the endless financial scandals that keep sweeping across the industry, it is fairly obvious that this regulatory system needs a good deal of improvement. In fact, I think that it may be no coincidence that so much is being revealed now. The idea is surely to create the conditions for another international regulatory effort that will end up further controlling what is left of free-market capital raising. It is a global game for globalists. The game is to regulate everything and then to position oneself above the regulations and above the governments that wield them. This gives you tremendous power over everyone else. One of the tools being used to whip up sentiment for a larger regulatory revisiting is scandal and more scandal. There have been revelations of so-called crooked practices in a number of areas lately, mostly in the area of industry pricing. It turns out that many standard prices are set via indications of interest rather than outright competition. We can see the same system at work in the gold market, where a small group of wise men set the price for physical gold every day. And now, as Taibbi and others have revealed, the dysfunctional system also affects interest rate swaps. This has incensed Taibbi, who opens his article as follows: Conspiracy theorists of the world, believers in the
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