Sanctions placed against Iran are directed at their economy and value of their currency because Iran has been using gold instead of the US dollar to trade with other nations for their oil. Obama’s latest round of sanctions, by executive order, is aimed at preventing “payment mechanisms for the purchase of Iranian oil to circumvent existing sanctions.” By targeting specific banks, Bank of Kunlun of China and Elaf Islamic Bank of Iraq, Obama wants to make sure “transactions worth millions of dollars on behalf of Iranian banks that are subject to sanctions for their links to Iran’s illicit proliferation activities.”

Obama warned that the US will “expose any financial institution, no matter where they are located, that allows the increasingly desperate Iranian regime to retain access to the international financial system.” Working for the banking Elite, Obama has made his position clear. He is using the might of the US military to stop Iran from further devaluation of the US dollar; and now threatening all other financial institutions and nations that deal with Iran or facilitate payment in any currency other than the US dollar.

Recent reports detail a Turkish military buildup on the Turkish-Syrian border with various accounts mentioning the deployment of troops, tanks, armored personnel carriers and missile batteries two kilometers from Syrian territory, with 25 tanks from the Mardin 70th Mechanized Brigade engaged in exercises along the border. The Turkish rationale for the military escalation is that forces of the Democratic Union Party, an ethnic Kurdish group that Ankara accuses of being affiliated with the Kurdistan Workers Party, have assumed control of the Syrian cities of Efrin (Afrin), Kobane and Amude (Amuda) near southeastern Turkey.

The Turkish government has been waging a counterinsurgency war against the PKK for 28 years in Turkey, and over the past decade in northern Iraq, with the active support of the Pentagon and NATO. In fact, the campaign against Kurdish opposition groups is another, unacknowledged, American and NATO war, one to be added to a growing list that includes Yugoslavia, Afghanistan, Pakistan, Iraq, Somalia, Libya and now Syria.

The attack took place in Somalia’s Garas Balley district near the capital Mogadishu, leaving at least another 40 injured. The unmanned aircraft also destroyed two al-Shabab bases in the area. The US has recently stepped up its drone operations in the famine-stricken Somalia. Washington has been carrying out assassination drone attacks in other countries including Afghanistan, Pakistan, and Yemen. The United Nations has slammed the assassination drone attacks as targeted killings, saying that they pose a challenge to international law.

The attack took place in Somalia’s Garas Balley district near the capital Mogadishu, leaving at least another 40 injured. The unmanned aircraft also destroyed two al-Shabab bases in the area. The US has recently stepped up its drone operations in the famine-stricken Somalia. Washington has been carrying out assassination drone attacks in other countries including Afghanistan, Pakistan, and Yemen.

The U.S. House of Representatives on Wednesday passed tough new economic sanctions designed to prevent Iran from developing nuclear weapons. The bill passed the House by a vote of 421 to 6. It was crafted with the Senate, which is expected to approve the measure this week.

WASHINGTON — The Obama administration quietly has cleared the way for U.S. residents to buy weapons for the rebels who are fighting to topple Syrian President Bashar Assad, granting a Washington-based advocacy group a rare license to collect money for arms and other equipment. The license, which the Treasury Department’s Office of Foreign Assets Control issued last month without fanfare, gives the nonprofit Syrian Support Group the authority to take in money and pass it directly to armed insurgents. Previously, U.S. entities’ assistance to Syria was limited to humanitarian and educational programs.

President Barack Obama has signed a secret order authorizing U.S. support for rebels seeking to depose Syrian President Bashar al-Assad and his government, U.S. sources familiar with the matter said. Obama's order, approved earlier this year and known as an intelligence "finding," broadly permits the CIA and other U.S. agencies to provide support that could help the rebels oust Assad.

Precisely when Obama signed the secret intelligence authorization, an action not previously reported, could not be determined. The full extent of clandestine support that agencies like the CIA might be providing also is unclear.

The former Mossad chief Efraim Halevy, who told The Times of Israel in an interview in March that there would be “nothing else left” but a resort to force if the diplomatic track with Iran did not quickly produce a breakthrough, hinted Thursday that the moment of truth on Iran’s nuclear drive was now imminent. “If I were an Iranian, I would be very fearful of the next 12 weeks,” Halevy, who is also a former national security adviser and ambassador, told The New York Times.

Apart from Netanyahu’s concern that Israel’s military option would “soon” become redundant, the paper cited several other reasons “for the potential timing.” Among them, it said, was the fact that “Israel does not like to fight wars in winter.” Also, Netanyahu “feels that he will have less leverage if President Obama is reelected” while, were Mitt Romney to win the November elections, “the new president would be unlikely to want to take on a big military action early in his term.”

This morning, the US Senate defeated the Cybersecurity Act of 2012, a bill that would have given companies new rights to monitor our private communications and pass that data to the government. The bill sponsors were 8 votes short of the 60 votes necessary to end debate on the bill (vote breakdown here). This is a victory for Internet freedom advocates everywhere. Hundreds of thousands of individuals emailed, tweeted, called, and sent Facebook messages to Senators asking them to defend privacy in the cybersecurity debate. Those voices were heard loud and clear in the halls of Congress today. EFF extends our heartfelt thanks to everyone who fought with us on this issue. We can all be proud today that there was no law enacted on our watch that would have compromised the online privacy rights of Internet users in the name of cybersecurity.  

Internet users also found they had powerful friends in the Senate. Senators Al Franken, Richard Durbin, Chris Coons, Bernie Sanders, Daniel Akaka, Ron Wyden and Richard Blumenthal championed civil liberties fixes to the bill. Senator Wyden, in particular, opposed the bill on privacy grounds, stating:  Today’s vote was one in which Senators were asked to sacrifice Internet users’ privacy and civil liberties for weak proposals to improve cyber security; I voted no. And Senators Al Franken and Rand Paul sponsored an amendment that would have removed the most privacy-invasive provisions of the bill. These champions of online rights helped us in the cybersecurity fight – and will hopefully stand with us again in defending civil liberties the next time this issue arises.

The U.S. Department of Agriculture's addition of the 218 counties means that more than half of all U.S. counties – 1,584 in 32 states – have been designated primary disaster areas this growing season, the vast majority of them mired in a drought that's considered the worst in decades.

James Holmes, the 24-year old suspect in the mass shooting of Batman "The Dark Knight Rises" movie goers in Aurora, Colorado that left 12 people dead and 58 injured, has had a number of links to U.S. government-funded research centers. Holmes's past association with government research projects has prompted police and federal law enforcement officials to order laboratories and schools with which Holmes has had a past association not to talk to the press about Holmes.

The links between the younger and elder Holmes and U.S. government research on creating super-soldiers, human brain-machine interfaces, and human-like robots beg the question: "Was James Holmes engaged in a real-life Jason Bourne TREADSTONE project that broke down and resulted in deadly consequences in Aurora, Colorado?"

Some major U.S. corporations that support climate science in their public relations materials actively work to derail regulations and laws addressing global warming through lobbying, campaign donations and support of various advocacy groups, according to a new report by the Union of Concerned Scientists, an environmental and scientific integrity group.

The report provides the outlines of corporations’ activism, but much remains murky, the study’s authors said. Most notably, the report could not quantify how much money the companies give to so-called independent political groups that run ads supporting or bashing candidates because federal law doesn’t require corporations to disclose their giving.

The verdict is in: Global warming is occurring and emissions of greenhouse gases caused by human activity are the main cause. This, according to Richard A. Muller, professor of physics at UC Berkeley, MacArthur Fellow and co-founder of the Berkeley Earth Surface Temperature project. Never mind that the United Nations Intergovernmental Panel on Climate Change and hundreds of other climatologists around the world came to such conclusions years ago. The difference now is the source: Muller is a long-standing, colorful critic of prevailing climate science, and the Berkeley project was heavily funded by the Charles Koch Charitable Foundation, which, along with its libertarian petrochemical billionaire founder Charles G. Koch, has a considerable history of backing groups that deny climate change. 

In an opinion piece in Saturday’s New York Times titled “The Conversion of a Climate-Change Skeptic,” Muller writes: “Three years ago I identified problems in previous climate studies that, in my mind, threw doubt on the very existence of global warming. Last year, following an intensive research effort involving a dozen scientists, I concluded that global warming was real and that the prior estimates of the rate of warming were correct. I’m now going a step further: Humans are almost entirely the cause.”

Muller’s New York Times commentary follows research he did last year that confirmed the work of scientists who found the Earth’s temperature was rising. In the past, Muller had criticized which global temperatures were used in such research, contending that some monitoring stations provided inaccurate data.  Now, Berkeley’s research has weighed in on the causes of the temperature rise, testing arguments climate contrarians have used. “What has caused the gradual but systematic rise of two and a half degrees?” Muller writes. “We tried fitting the shape to simple math functions (exponentials, polynomials), to solar activity and even to rising functions like world population. By far the best match was to the record of atmospheric carbon dioxide, measured from atmospheric samples and air trapped in polar ice.”

Plaintiffs were United States citizens or legal permanent residents who had good reason to believe they were on the Terrorist Screening Center's (TSC) no-fly list (List). They initially submitted grievances through the redress program run by the Transportation Security Administration (TSA), but the government refused to confirm or deny their inclusion on the List. Rather than continuing to pursue their administrative grievances with the TSA, Plaintiffs filed this action against the directors of the TSC and FBI and the attorney general, challenging the TSA's grievance procedures. The district court dismissed the case, holding that TSA was a necessary party to the litigation but that TSA could not feasibly be joined in the district court due to 49 U.S.C. 46110, which grants federal courts of appeals exclusive jurisdiction to review TSA's final orders. The Ninth Circuit Court of Appeals reversed, holding (1) section 46110 does not strip the district court of federal question jurisdiction over substantive challenges to the inclusion of one's name on the List; and (2) the district court's determination that TSA was a necessary party was not an abuse of discretion, but the court erred in holding that joinder of TSA was infeasible in light of section 46110.

The biggest U.S. banks created more than 10,000 subsidiaries in the past 22 years as they expanded, using legal structures to pay lower taxes and escape tighter regulation, according to a Federal Reserve study.

The 2010 Dodd-Frank Act asked the FDIC and Fed to make sure the largest banks, if they get into trouble, can be wound down without collapsing the rest of the financial system.

The 1999 repeal of the Depression-era Glass-Steagall Act was the main catalyst for the biggest banks getting bigger, the Fed study concluded. The assets of the largest lenders have since tripled to $15 trillion.

WASHINGTON -- In a rare moment of bipartisanship, the House overwhelmingly passed a bill by Rep. Ron Paul (R-Texas) to audit the Federal Reserve. The bill, which has 270 co-sponsors, passed 327 to 98. All but one Republican -- Rep. Bob Turner of New York -- voted for it, along with 89 Democrats. Paul teamed up with former Rep. Alan Grayson (D-Fla.) in 2010 to pass similar legislation that became part of the final Wall Street reform bill. But Paul has said new audit legislation is needed because the 2010 bill didn't go far enough. Specifically, he states on his website that the audit called for in the 2010 bill only focused on emergency credit programs and procedural issues, rather than on the substantive details of the lending transactions. The 2012 bill doesn't limit the focus of the audit.

"The Fed creates trillions of dollars out of nothing and gives it to banks. Congress is in the dark. The Fed sets the stage for the subprime meltdown. Congress is in the dark. The Fed takes a dive on LIBOR. Congress is in the dark. The Fed doesn’t tell regulators what is going on. Congress is in the dark," Kucinich shouted on the House floor, just before the vote. "It is time for us to bring the Fed into the sunshine of accountability," he said.

In the daily survey tracking the presidential election, President Barack Obama and Mitt Romney remain in a virtual dead heat for the popular vote, but the president has a clear lead in the electoral college vote.

The bottom line is that Obama has 247 electoral college votes in his favor, only 23 short of a majority. Romney has 191, and another 100 are uncertain.  

Last week, the journal Foreign Policy published an extraordinary article – not extraordinary because of what it says, but because of who said it. It was written by Aaron David Miller, a lifelong D.C. foreign policy bureaucrat who served as a Middle East adviser to six different Secetaries of State in Democratic and GOP administrations. Miller’s article, which compared Barack Obama and Mitt Romney on foreign policy, was entitled “Barack O’Romney,” and the sub-headline said it all: “Ignore what the candidates say they’ll do differently on foreign policy. They’re basically the same man.” It began this way: “If Barack Obama is reelected, he ought to consider making Mitt Romney his new secretary of state” because “despite his campaign rhetoric, Romney would be quite comfortable carrying out President Obama’s foreign policy because it accords so closely with his own.”

Miller devotes himself to debunking one of the worst myths in Washington, propagated out of self-interest by conservatives and progressives alike: namely, that there is a vast and radical difference between the parties on most key issues and that bipartisanship is so tragically scarce. In the foreign policy context which is his expertise, Miller explains that — despite campaign rhetoric designed to exaggerate (or even invent) differences in order to motivate base voters — the reality is exactly the opposite

Video Beginning scene of the new HBO series The Newsroom.

But Nouriel Roubini is a lot more mainstream than Keiser – or even Stiglitz – being very close to Treasury Secretary Tim Geithner.  See this and this. Roubini told Bloomberg that nothing has changed since the start of the financial crisis, and we might need to throw bankers in jail – or hang them in the streets – before they’ll change: Nobody has gone to jail since the financial crisis. The banks, they do things that are illegal and at best they slap on them a fine.  If some people end up in jail, maybe that will teach a lesson to somebody.  Or somebody hanging in the streets.