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Paul Merrell

Senate goes for 'nuclear option' - Burgess Everett and Seung Min Kim - POLITICO.com - 0 views

  • The Senate approved a historic rules change on Thursday by eliminating the use of the filibuster on all presidential nominees except those to the U.S. Supreme Court.Invoking the long-threatened “nuclear option” means that most of President Barack Obama’s judicial and executive branch nominees no longer need to clear a 60-vote threshold to reach the Senate floor and get an up-or-down vote.
  • Senate Majority Leader Harry Reid (D-Nev.) used the nuclear option Thursday morning, meaning he called for a vote to change the Senate rules by a simple majority vote. It passed, 52 to 48. Three Democrats voted against changing the rules — Sen. Carl Levin of Michigan, Joe Manchin of West Virginia and Mark Pryor of Arkansas. “It’s time to change the Senate before this institution becomes obsolete,” Reid said in a lengthy floor speech on Thursday morning. A furious Senate Minority Leader Mitch McConnell (R-Ky.), who tried to recess the Senate for the day before the rules change could get a vote, said after the minority’s power was limited by Democrats: “I don’t think this is a time to be talking about reprisal. I think it’s a time to be sad about what has been done to the United States Senate.”
  • The debate over the filibuster — and specifically its use on D.C. Circuit nominees — has been raging for nearly a decade, stretching back to when George W. Bush was president and Democrats were in the minority. But changing the Senate rules has always been avoided through a piecemeal deal, a gentleman’s agreement or a specific solution, not a historic change to the very fabric of the Senate.
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  • But since Obama’s nomination, the “nuclear option” has reared its head three times in less than a year — each time getting closer to the edge. Many in the Senate privately expected that this go-round would be yet another example of saber rattling, but Reid said pressure was increasing within his own party to change the rules. The blockade of three consecutive nominees to a powerful appellate court was too much for Democrats to handle — and Reid felt compelled to pull the trigger, explaining that “this is the way it has to be.”
  • Senate Democrats were quick to use their newfound powers, voting in the early afternoon to end the filibuster on Patricia Millett’s nomination to the D.C. Circuit Court of Appeals. The vote was 55-43, with two senators voting present. Before the change earlier Thursday, Millett would have needed 60 votes to clear the procedural hurdle and move on to a confirmation vote. But now, she needed just 51 to advance.
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    The Senate's filibuster rule, particularly since abandonment of the requirement that the filibustering Senator must keep talking so long as the filibuster continues, has seemed more and more an anachronism to me as I age. Its use to indefinitely block an up or down vote on a legislative measure -- in essence granting each Senator veto power over proposed measures seems fundamentally at odds with democratic principles to me. Certainly during my lifetime, the filibuster rule has been abused by both major parties, transforming a mere rule of procedure into an individual veto power nowhere set forth in the Constitution, in effect requiring a 60 per cent super-majority to pass a controversial measure. The Constitution is not silent on the subject of super-majorities in the Senate, specifying a super-majority to override a presidential veto and to remove a federal official from office by impeachment. Therefore, one might argue that the Founders knew how to write a super-majority requirement but did not see fit to require a supermajority to close debate and bring a measure to a vote. In other words, I favor abolishing the filibuster rule entirely and making "the nuclear option" standard procedure except where the Constitution establishes a super-majority requirement. To me it is not important that this limitation of the filibuster rule occurred when the Democrats had the majority in the Senate; whenever it were to happen, some party would be in the minority. And I do not believe that the People of this nation will be disadvantaged by up or down votes on Senate measures.  Now can we please get rid of the filibuster rule entirely?
Gary Edwards

Revealed: Obama's Immense Shadow Army & Its Shocking Takeover Plan - 1 views

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    Is the ObamaCare train wreck a wreck by design? Another notch in the Bankster belt marking another step in the bankrupting of America? Revealed: Obama's Immense Shadow Army & Its Shocking Takeover Plan October 26, 2013  //  By: Eric Odom  //   The ObamaCare train wreck - it's awful, possibly purposeful, certainly useful for team Obama and its growing army of community activists and organizers. In a previous report, we explored the question, "What if the ObamaCare debacle is really a diversion, using a military term a "feint" - a tactical distraction to draw our attention, our focus and our fire away from the real point of attack on liberty?" Remember that horrible train wreck in Spain not long ago, captured on video? As tragic as it was, watching the crash and its gruesome aftermath was almost irresistible, wasn't it? Well, what if the disastrous rollout of the President's signature legislative achievement - what if this spectacular slow motion ObamaCare train wreck has been and is being allowed to happen so that what's going on around the bend from the fiery crash site gets little attention, from the public, from the media or from Congressional investigators? Think about it, friends. How could Barack Obama and his celebrated team of incredibly proficient, plugged in techies - the team that twice got him elected - be behind the utterly disastrous launch of the ObamaCare online storefront, healthcare.gov - arguably the biggest website failure in history? How could so much money have been spent to produce such a problem-plagued site that apparently was doomed in its developmental confusion? And how to fix this monumental mess, well, there doesn't seem to be any clear plan…other than hope. And now we learn that many, if not most, of the people actually signing up for ObamaCare through the website are enrolling in Medicaid, not signing up for private insurance policies they pay for, but adding their names onto government roll
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    There is no doubt in my mind that corporations (and their Chamber of Commerce boot licking lackys) believe that employer provided healthcare benefits was a HUGE MISTAKE. The key feature of ObamaCare is that of ENDING the HMO-Employee Healthcare profit draining quagmire these corporations somehow stumbled into. (Hint: they traded healthcare benefits for wide open government assisted Globalization - the new world order Merchantilism). IMHO, the insurance companies know full well that the entire HMO-Employee Healthcare bandwagon is going to end. Not because of socialism; because of profit hungry out of control mercantilism. So they are trying to cut the best deal possible with the government. The merchantilist doesn't care that their employees are going to suffer. They only care that this cost and the blame for losing the benefit is moved from their books to the government. Nor does the merchantilist care about protecting our borders. They want cheap labor. Even if the social cost of that cheap labor lands on the government and destroys the nation. That's why the merchantilist and his Bankster financiers support Open Borders. The merchantilist could care less about the trade deficit and the massive transfer of American manufacturing jobs overseas. As long as they can sell their junk back into the USA market without a 33% import tax these bastardos are happy to destroy their country. I wonder whose army and navy will secure their investments when the USA no longer can? Are their private armies enough? Just wondering.
Paul Merrell

LINX Public Affairs » Advocate General says Data Retention Directive unlawful - 0 views

  • The EU Data Retention Directive is incompatible with the Charter of Fundamental Rights of the European Union, according to the Advocate General of the European Court. While the purpose of the Directive, to ensure that communications data can be made available to law enforcement, is accepted as legitimate, the Advocate General says the legislator failed to provide adequate protections against misuse, as required by the Charter.
  • States supporting data retention are not out of the woods yet. The Advocate General’s opinion that the full extent of measures concerning retention of communications data, and access to the material so retained must be legislated at the European level is reached through his understanding of Article 52(1) of the Charter, that any limitation on the rights guaranteed by the Charter, such as right to privacy, must be “provided for by law”. This is the same Advocate General that proposed the same reasoning in another important case on Internet law, and in that case the European Court did not follow his advice. In the seminal case of Internet filtering, SABAM v Scarlet Extended, the Advocate General argued that it should be decided on the basis that court-ordered filtering by ISPs of copyright-infringing peer-to-peer traffic was “not provided for by law” until there is specific legislation to support it. The European Court chose not to follow the Advocate General’s narrow reasoning, and decided the case instead on the substantively more fundamental question of whether making ISPs filter traffic infringes human rights, ruling in favour of ISPs and users and against the copyright holders and States. It remains possible that in this case on data retention the Court will also choose to focus more specifically on the underlying questions raised by the Austrian Supreme Court.
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    Optimistic news on the ISP data-retention law front. If the data retention directive is found unlawful in the E.U., the ability of law enforcement and the spy agencies to access retained data is limited to what is retained voluntarily by ISPs. 
Paul Merrell

EU high court strikes down metadata collection law | Ars Technica - 0 views

  • While the United States continues to debate metadata collection conducted in secret by the National Security Agency, the European Union has been openly collecting the same sort of data for eight years. In the wake of terrorist attacks in Madrid (2004) and London (2005), the European Union passed a directive in 2006 requiring that all telecommunications providers retain all kinds of telephone and Internet metadata for at least six months and provide it to law enforcement upon request. According to a ruling handed down Tuesday by the European Court of Justice, that directive is now invalid. The case was brought by activists at Digital Rights Ireland and the Austrian Working Group on Data Retention. The two organizations had challenged the law as it had been imposed in their respective countries.
  • While the United States continues to debate metadata collection conducted in secret by the National Security Agency, the European Union has been openly collecting the same sort of data for eight years. In the wake of terrorist attacks in Madrid (2004) and London (2005), the European Union passed a directive in 2006 requiring that all telecommunications providers retain all kinds of telephone and Internet metadata for at least six months and provide it to law enforcement upon request. According to a ruling handed down Tuesday by the European Court of Justice, that directive is now invalid. The case was brought by activists at Digital Rights Ireland and the Austrian Working Group on Data Retention. The two organizations had challenged the law as it had been imposed in their respective countries.
  • The European judges concluded: The Court takes the view that, by requiring the retention of those data and by allowing the competent national authorities to access those data, the directive interferes in a particularly serious manner with the fundamental rights to respect for private life and to the protection of personal data. Furthermore, the fact that data are retained and subsequently used without the subscriber or registered user being informed is likely to generate in the persons concerned a feeling that their private lives are the subject of constant surveillance. . . . Although the retention of data required by the directive may be considered to be appropriate for attaining the objective pursued by it, the wide-ranging and particularly serious interference of the directive with the fundamental rights at issue is not sufficiently circumscribed to ensure that that interference is actually limited to what is strictly necessary.
Paul Merrell

House Intelligence Bill Fumbled Transparency - Federation Of American Scientists - 0 views

  • Intelligence community whistleblowers would have been able to submit their complaints to the Privacy and Civil Liberties Oversight Board (PCLOB) under a proposed amendment to the intelligence authorization act that was offered last week by Rep. Tulsi Gabbard (D-HI). This could have been an elegant solution to the whistleblowing conundrum posed by Edward Snowden. It made little sense for Snowden to bring his concerns about bulk collection of American phone records to the congressional intelligence committees, considering that they had already secretly embraced the practice. The PCLOB, by contrast, has staked out a position as an independent critical voice on intelligence policy. (And it has an unblemished record for protecting classified information.) The Board’s January 2014 report argued cogently and at length that the Section 215 bulk collection program was likely unlawful as well as ineffective. In short, the PCLOB seemed like a perfect fit for any potential whistleblower who might have concerns about the legality or propriety of current intelligence programs from a privacy or civil liberties perspective.
  • But when Rep. Gabbard offered her amendment to the intelligence authorization act last week, it was not voted down– it was blocked. The House Rules Committee declared that the amendment was “out of order” and could not be brought to a vote on the House floor. Several other amendments on transparency issues met a similar fate. These included a measure proposed by Rep. Adam Schiff to require reporting on casualties resulting from targeted killing operations, a proposal to disclose intelligence spending at the individual agency level, and another to require disclosure of the number of U.S. persons whose communications had been collected under FISA, among others. In dismay at this outcome, Rep. Rush Holt (D-NJ) and I lamented the “staggering failure of oversight” in a May 30 op-ed. See The House Committee on Intelligence Needs Oversight of Its Own, MSNBC.
  • The House did approve an amendment offered by Rep. John Carney (D-DE) to require the Director of National Intelligence “to issue a report to Congress on how to improve the declassification process across the intelligence community.” While the DNI’s views on the subject may indeed be of interest, the amendment failed to specify the problem it intended to address (erroneous classification standards? excessive backlogs? something else?), and so it is unclear exactly what is to be improved.
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  • However, a more focused classification reform program may be in the works. Rep. Bennie Thompson (D-MS), the ranking member of the House Homeland Security Committee, said that he would introduce “a comprehensive security clearance reform bill” that would also address the need to shrink the national security classification system. The Thompson bill, which is to be introduced “in the coming weeks,” would “greatly expand the resources and responsibilities of the Public Interest Declassification Board,” Rep. Thompson said during the House floor debate on the intelligence bill on May 30. “A well-resourced and robust Board is essential to increasing accountability of the intelligence community,” he said.
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    I don't agree that whistleblowers need a secret system for their complaints. Secrecy is the problem, not the solution.In a supposedly democratic republic, every bit of government secrecy runs directly contrary to the citizen's right to be know what their government is up to.  All of the NSA reform measures in Congress share a fundamental flaw: they focus on what the NSA is allowed to do in secret. Any sane legislative approach would begin by identifying and clarifying what digital privacy rights citizens have and the obligation of government agencies and the private sector to report violations to their victims. Then one can proceed to examine how intelligence agencies might function within those parameters.  But the approach in Congress has been a catfight over "NSA reform" with secrecy accepted as the norm and without consideration of citizens' privacy rights, not even their Constitutional rights. But it is our privacy laws and their enforcement that needs attention, not directions to the Dark Government that is still allowed to remain in the dark. In other words, it is the public that should be informed of whistleblowers' revelations, not selected members of Congress, not secret courts, not some Privacy and Civil Liberties Oversight Board whose public reports are only summaries with all data they examine hid from view.  Bring that Dark Government into the sunlight and then real reform can happen but not before.
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    +1 The Constitutional and Natural rights of citizens come first. The legality of the NSA activities as well as other gov ops follows. This is an excellent point you make Paul! I hope others take up the cross and realize what an important point you are making in your comment.
Paul Merrell

Reported US-Syrian Accord on Air Strikes | Consortiumnews - 1 views

  • Exclusive: A problem with President Obama’s plan to expand the war against ISIS into Syria was always the risk that Syrian air defenses might fire on U.S. warplanes, but now a source says Syria’s President Assad has quietly agreed to permit strikes in some parts of Syria, reports Robert Parry.
  • The Obama administration, working through the Russian government, has secured an agreement from the Syrian regime of Bashar al-Assad to permit U.S. airstrikes against Islamic State targets in parts of Syria, according to a source briefed on the secret arrangements. The reported agreement would clear away one of the chief obstacles to President Barack Obama’s plan to authorize U.S. warplanes to cross into Syria to attack Islamic State forces – the concern that entering Syrian territory might prompt anti-aircraft fire from the Syrian government’s missile batteries.
  • In essence, that appears to be what is happening behind the scenes in Syria despite the hostility between the Obama administration and the Assad government. Obama has called for the removal of Assad but the two leaders find themselves on the same side in the fight against the Islamic State terrorists who have battled Assad’s forces while also attacking the U.S.-supported Iraqi government and beheading two American journalists.
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  • The usual protocol for the U.S. military – when operating in territory without a government’s permission – is to destroy the air defenses prior to conducting airstrikes so as to protect American pilots and aircraft, as was done with Libya in 2011. However, in other cases, U.S. intelligence agencies have arranged for secret permission from governments for such attacks, creating a public ambiguity usually for the benefit of the foreign leaders while gaining the necessary U.S. military assurances.
  • Just last month, Obama himself termed the strategy of arming supposedly “moderate” Syrian rebels “a fantasy.” He told the New York Times’ Thomas L. Friedman: “This idea that we could provide some light arms or even more sophisticated arms to what was essentially an opposition made up of former doctors, farmers, pharmacists and so forth, and that they were going to be able to battle not only a well-armed state but also a well-armed state backed by Russia, backed by Iran, a battle-hardened Hezbollah, that was never in the cards.” Obama’s point would seem to apply at least as much to having the “moderate” rebels face down the ruthless Islamic State jihadists who engage in suicide bombings and slaughter their captives without mercy. But this “fantasy” of the “moderate” rebels has a big following in Congress and on the major U.S. op-ed pages, so Obama has included the $500 million in his war plan despite the risk it poses to Assad’s acquiescence to American air attacks.
  • In a national address last week, Obama vowed to order U.S. air attacks across Syria’s border without any coordination with the Syrian government, a proposition that Damascus denounced as a violation of its sovereignty. So, in this case, Syria’s behind-the-scenes acquiescence also might provide some politically useful ambiguity for Obama as well as Assad. Yet, this secret collaboration may go even further and include Syrian government assistance in the targeting of the U.S. attacks, according to the source who spoke on condition of anonymity. That is another feature of U.S. military protocol in conducting air strikes – to have some on-the-ground help in pinpointing the attacks. As part of its public pronouncements about the future Syrian attacks, the Obama administration sought $500 million to train “vetted” Syrian rebels to handle the targeting tasks inside Syria as well as to carry out military ground attacks. But that approach – while popular on Capitol Hill – could delay any U.S. airstrikes into Syria for months and could possibly negate Assad’s quiet acceptance of the U.S. attacks, since the U.S.-backed rebels share one key goal of the Islamic State, the overthrow of Assad’s relatively secular regime.
  • Without Assad’s consent, the U.S. airstrikes might require a much wider U.S. bombing campaign to first target Syrian government defenses, a development long sought by Official Washington’s influential neoconservatives who have kept “regime change” in Syria near the top of their international wish list. For the past several years, the Israeli government also has sought the overthrow of Assad, even at the risk of Islamic extremists gaining power. The Israeli thinking had been that Assad, as an ally of Iran, represented a greater threat to Israel because his government was at the center of the so-called Shiite crescent reaching from Tehran through Damascus to Beirut and southern Lebanon, the base for Hezbollah.
  • The thinking was that if Assad’s government could be pulled down, Iran and Hezbollah – two of Israel’s principal “enemies” – would be badly damaged. A year ago, then-Israeli Ambassador to the United States Michael Oren articulated this geopolitical position in an interview with the Jerusalem Post. “The greatest danger to Israel is by the strategic arc that extends from Tehran, to Damascus to Beirut. And we saw the Assad regime as the keystone in that arc,” Oren said. “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.” He said this was the case even if the other “bad guys” were affiliated with al-Qaeda. More recently, however, with the al-Qaeda-connected Nusra Front having seized Syrian territory adjacent to the Israeli-occupied Golan Heights – forcing the withdrawal of UN peacekeepers – the balance of Israeli interests may be tipping in favor of preferring Assad to having Islamic extremists possibly penetrating directly into Israeli territory.
  • In the longer term, by working together to create political solutions to various Mideast crises, the Obama-Putin cooperation threatened to destroy the neocons’ preferred strategy of escalating U.S. military involvement in the region. There was the prospect, too, that the U.S.-Russian tag team might strong-arm Israel into a peace agreement with the Palestinians. So, starting last September – almost immediately after Putin helped avert a U.S. air war against Syria – key neocons began taking aim at Ukraine as a potential sore point for Putin. A leading neocon, Carl Gershman, president of the U.S.-government-funded National Endowment for Democracy, took to the op-ed pages of the neocon Washington Post to identify Ukraine as “the biggest prize” and explaining how its targeting could undermine Putin’s political standing inside Russia. “Ukraine’s choice to join Europe will accelerate the demise of the ideology of Russian imperialism that Putin represents,” Gershman wrote. “Russians, too, face a choice, and Putin may find himself on the losing end not just in the near abroad but within Russia itself.” At the time, Gershman’s NED was funding scores of political and media projects inside Ukraine.
  • The Russian Hand Besides the tactical significance of U.S. intelligence agencies arranging Assad’s tacit acceptance of U.S. airstrikes over Syrian territory, the reported arrangement is also significant because of the role of Russian intelligence serving as the intermediary. That suggests that despite the U.S.-Russian estrangement over the Ukraine crisis, the cooperation between President Obama and Russian President Vladimir Putin has not been extinguished; it has instead just gone further underground. Last year, this growing behind-the-scenes collaboration between Obama and Putin represented a potential tectonic geopolitical shift in the Middle East. In the short term, their teamwork produced agreements that averted a U.S. military strike against Syria last September (by getting Assad to surrender his chemical weapons arsenal) and struck a tentative deal with Iran to constrain but not eliminate its nuclear program.
  • Direct attacks on Israel would be a temptation to al-Nusra Front, which is competing for the allegiance of young jihadists with the Islamic State. While the Islamic State, known by the acronyms ISIS or ISIL, has captured the imaginations of many youthful extremists by declaring the creation of a “caliphate” with the goal of driving Western interests from the Middle East, al-Nusra could trump that appeal by actually going on the offensive against one of the jihadists’ principal targets, Israel. Yet, despite Israel’s apparent rethinking of its priorities, America’s neocons appear focused still on their long-held strategy of using violent “regime change” in the Middle East to eliminate governments that have been major supporters of Lebanon’s Hezbollah and Palestine’s Hamas, i.e. Syria and Iran. One reason why Obama may have opted for a secretive overture to the Assad regime, using intelligence channels with the Russians as the middlemen, is that otherwise the U.S. neocons and their “liberal interventionist” allies would have howled in protest.
  • By early 2014, American neocons and their “liberal interventionist” pals were conspiring “to midwife” a coup to overthrow Ukraine’s elected President Viktor Yanukovych, according to a phrase used by U.S. Ambassador Geoffrey Pyatt in an intercepted phone conversation with Assistant Secretary of State for European Affairs Victoria Nuland, who was busy handpicking leaders to replace Yanukovych. A neocon holdover from George W. Bush’s administration, Nuland had been a top aide to Vice President Dick Cheney and is married to prominent neocon Robert Kagan, a co-founder of the Project for a New American Century which prepared the blueprint for the neocon strategy of “regime change” starting with the 2003 U.S.-led invasion of Iraq.
  • The U.S.-backed coup ousted Yanukovych on Feb. 22 and sparked a bloody civil war, leaving thousands dead, mostly ethnic Russians in eastern Ukraine. But the Gershman-Nuland strategy also drove a deep wedge between Obama and Putin, seeming to destroy the possibility that their peace-seeking collaboration would continue in the Middle East. [See Consortiumnews.com’s “Neocons’ Ukraine-Syria-Iran Gambit.”] New Hope for ‘Regime Change’ The surprise success of Islamic State terrorists in striking deep inside Iraq during the summer revived neocon hopes that their “regime change” strategy in Syria might also be resurrected. By baiting Obama to react with military force not only in Iraq but across the border in Syria, neocons like Sens. John McCain and Lindsey Graham put the ouster of Assad back in play.
  • In a New York Times op-ed on Aug. 29, McCain and Graham used vague language about resolving the Syrian civil war, but clearly implied that Assad must go. They wrote that thwarting ISIS “requires an end to the [civil] conflict in Syria, and a political transition there, because the regime of President Bashar al-Assad will never be a reliable partner against ISIS; in fact, it has abetted the rise of ISIS, just as it facilitated the terrorism of ISIS’ predecessor, Al Qaeda in Iraq.” Though the McCain-Graham depiction of Assad’s relationship to ISIS and al-Qaeda was a distortion at best – in fact, Assad’s army has been the most effective force in pushing back against the Sunni terrorist groups that have come to dominate the Western-backed rebel movement – the op-ed’s underlying point is obvious: a necessary step in the U.S. military operation against ISIS must be “regime change” in Damascus.
  • That would get the neocons back on their original track of forcing “regime change” in countries seen as hostile to Israel. The first target was Iraq with Syria and Iran always meant to follow. The idea was to deprive Israel’s close-in enemies, Lebanon’s Hezbollah and Palestine’s Hamas, of crucial support. But the neocon vision got knocked off track when Bush’s Iraq War derailed and the American people balked at extending the conflict to Syria and Iran. Still, the neocons retained their vision even after Bush and Cheney departed. They also remained influential by holding onto key positions inside Official Washington – at think tanks, within major news outlets and even inside the Obama administration. They also built a crucial alliance with “liberal interventionists” who had Obama’s ear. [See Consortiumnews.com’s “The Dangerous Neocon-R2P Alliance.”]
  • The neocons’ new hope arrived with the public outrage over ISIS’s atrocities. Yet, while pushing to get this new war going, the neocons have downplayed their “regime change” agenda, getting Obama to agree only to extend his anti-ISIS bombing campaign from Iraq into Syria. But it was hard to envision expanding the war into Syria without ousting Assad. Now, however, if the source’s account is correct regarding Assad’s quiet assent to U.S. airstrikes, Obama may have devised a way around the need to bomb Assad’s military, an maneuver that might again frustrate the neocons’ beloved goal of “regime change.”
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    Robert Parry lands another major scoop. But beware of government officials who leak government plans because they do not invariably speak the truth.  I am particularly wary of this report because Obama's planned arming and training of the "moderate Syrian opposition" was such a patent lie. The "moderate Syrian opposition" disappeared over two years ago as peaceful protesters were replaced by Saudi, Qatari, Turkish, and American-backed Salafist mercenaries took their place. Up until this article, there has been every appearance that the U.S. was about to become ISIL's Air Force in Syria. In other words, there has been a steady gushing of lies from the White House on fundamental issues of war and peace. In that light, I do not plan to accept this article as truth before I see much more confirmation that ISIL rather than the Assad government is the American target in Syria. We have a serial liar in the White House.
Gary Edwards

The secret corporate takeover of trade agreements | Business | The Guardian - 0 views

  • The US and the world are engaged in a great debate about new trade agreements. Such pacts used to be called free-trade agreements; in fact, they were managed trade agreements, tailored to corporate interests, largely in the US and the EU. Today, such deals are more often referred to as partnerships, as in the Trans-Pacific Partnership (TPP). But they are not partnerships of equals: the US effectively dictates the terms. Fortunately, America’s “partners” are becoming increasingly resistant. It is not hard to see why. These agreements go well beyond trade, governing investment and intellectual property as well, imposing fundamental changes to countries’ legal, judicial, and regulatory frameworks, without input or accountability through democratic institutions. Perhaps the most invidious – and most dishonest – part of such agreements concerns investor protection. Of course, investors have to be protected against rogue governments seizing their property. But that is not what these provisions are about. There have been very few expropriations in recent decades, and investors who want to protect themselves can buy insurance from the Multilateral Investment Guarantee Agency, a World Bank affiliate, and the US and other governments provide similar insurance. Nonetheless, the US is demanding such provisions in the TPP, even though many of its partners have property protections and judicial systems that are as good as its own.
  • The real intent of these provisions is to impede health, environmental, safety, and, yes, even financial regulations meant to protect America’s own economy and citizens. Companies can sue governments for full compensation for any reduction in their future expected profits resulting from regulatory changes. This is not just a theoretical possibility. Philip Morris is suing Uruguay and Australia for requiring warning labels on cigarettes. Admittedly, both countries went a little further than the US, mandating the inclusion of graphic images showing the consequences of cigarette smoking. The labeling is working. It is discouraging smoking. So now Philip Morris is demanding to be compensated for lost profits. In the future, if we discover that some other product causes health problems (think of asbestos), rather than facing lawsuits for the costs imposed on us, the manufacturer could sue governments for restraining them from killing more people. The same thing could happen if our governments impose more stringent regulations to protect us from the impact of greenhouse gas emissions.
  • When I chaired Bill Clinton’s council of economic advisers, when he was president, anti-environmentalists tried to enact a similar provision, called “regulatory takings”. They knew that once enacted, regulations would be brought to a halt, simply because government could not afford to pay the compensation. Fortunately, we succeeded in beating back the initiative, both in the courts and in the US Congress. But now the same groups are attempting an end run around democratic processes by inserting such provisions in trade bills, the contents of which are being kept largely secret from the public (but not from the corporations that are pushing for them). It is only from leaks, and from talking to government officials who seem more committed to democratic processes, that we know what is happening.
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  • Fundamental to America’s system of government is an impartial public judiciary, with legal standards built up over the decades, based on principles of transparency, precedent, and the opportunity to appeal unfavourable decisions. All of this is being set aside, as the new agreements call for private, non-transparent, and very expensive arbitration. Moreover, this arrangement is often rife with conflicts of interest; for example, arbitrators may be a judge in one case and an advocate in a related case. The proceedings are so expensive that Uruguay has had to turn to Michael Bloomberg and other wealthy Americans committed to health to defend itself against Philip Morris. And, though corporations can bring suit, others cannot. If there is a violation of other commitments – on labour and environmental standards, for example – citizens, unions, and civil society groups have no recourse. If there ever was a one-sided dispute-resolution mechanism that violates basic principles, this is it. That is why I joined leading US legal experts, including from Harvard, Yale, and Berkeley, in writing a letter to Barack Obama explaining how damaging to our system of justice these agreements are.
  • American supporters of such agreements point out that the US has been sued only a few times so far, and has not lost a case. Corporations, however, are just learning how to use these agreements to their advantage. And high-priced corporate lawyers in the US, Europe and Japan will likely outmatch the underpaid government lawyers attempting to defend the public interest. Worse still, corporations in advanced countries can create subsidiaries in member countries through which to invest back home, and then sue, giving them a new channel to bloc regulations. If there were a need for better property protection, and if this private, expensive dispute-resolution mechanism were superior to a public judiciary, we should be changing the law not just for well heeled foreign companies but also for our own citizens and small businesses. But there has been no suggestion that this is the case.
  • Rules and regulations determine the kind of economy and society in which people live. They affect relative bargaining power, with important implications for inequality, a growing problem around the world. The question is whether we should allow rich corporations to use provisions hidden in so-called trade agreements to dictate how we will live in the 21st century. I hope citizens in the US, Europe and the Pacific answer with a resounding no. Joseph Stiglitz, a Nobel laureate in economics, is a professor at Columbia University. His most recent book, co-authored with Bruce Greenwald, is Creating a Learning Society: A New Approach to Growth, Development, and Social Progress
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    Economist Joseph Stiglitz takes on the TPP (Trans Pacific Partnership) trade agreement, explaining how corporations will use the agreement to side step environmental and regulatory laws of sovereign nations. Amazing stuff. No doubt Wall Street Money is behind these trade agreement. The Banksters are said to own over 40% of the world's corporations and these agreements are designed to establish corporate sovereignty while greatly diminishing state sovereignty. It's the New World Order. "Terms such as 'investor' and 'partner' are taking on new meanings as multinationals manipulate deals to take legal action against sovereign states"
Gary Edwards

The Daily Bell - Doug Casey on the Continuing Debasement of Money, Language and Banking in the Modern Age - 0 views

  • This isn't going to last because the way you get wealthy is by producing more than you consume and saving the difference – not by consuming more than you produce, and borrowing the difference. With the Fed keeping interest rates at artificially low levels, hoping to increase consumption, they're making it very foolish to save – when you get ½% or 1% on your savings. So people are saving less and they're borrowing more than they otherwise would. This is a formula for making things worse, not better.
  • They are, idiotically, doing exactly the opposite of what they should be.
  • In point of fact, the Fed should be abolished; the market, not bureaucrats, should determine interest rates. We wouldn't be in this pickle to start with if the government wasn't involved in the economy.
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  • The Chinese, the Japanese – everybody is selling, trying to pass the Old Maid card of US Government debt, which represents return–free risk. Nobody other than the Fed is buying, and interest rates would skyrocket if they stopped. The more QE there is, the more distortions it will cause, however, making for a bigger disaster the longer it goes on.
  • Will the Fed continue to inflate the money supply? Doug Casey: They have to, because with the huge amount of debt in the world – and the amount of debt in the world has increased something like 40 or 50% just since the Greater Depression started – if they don't keep increasing the amount of money in the world then nobody's going to be able to service the huge amount of debt that is out there. So I don't see anything changing in the years to come. They've truly painted themselves into a corner. They're caught between Scylla and Charybdis, and we don't have Odysseus steering the ship of state.
  • Let me say, again, that the Fed serves no useful purpose and it should be abolished. Central banks create "super money" by buying government or other debt with new currency units that they credit to the sellers' accounts at commercial banks. That's the actual engine of inflation.
  • But it's greatly compounded in the commercial banking system through fractional reserve lending – which would not be possible without a central bank. Fractional reserve lending allows banks to multiply the money supply several times.
  • If $100 of Fed super money, freshly created, is deposited in a commercial bank like Chase or Citibank, then $90 can be lent out with a 10% reserve, the current number. That money is redeposited. They'll then lend out 90% of that $90, or $81, and then 90% of that $81, so it multiplies.
  • Central banking and fractional reserve lending go hand-in-hand.
  • Without a central bank, any bank that engaged in fractional reserve banking would be considered guilty of fraud and, when discovered, would be punished by a bank run, followed by criminal charges. The point to be made here is that the entire banking system today is totally unsound and totally corrupt.
  • In a sound banking system you have two types of deposits – checking account (or demand) deposits, and savings account (or time) deposits. They are completely different businesses. With demand deposits, you pay the bank to store your money securely, and write checks against it. A bank should no more lend out demand deposit money than Allied Storage should lend out the furniture you're paying them to store.
  • Savings accounts are completely different. Here you lend money to a bank, perhaps at 3%, and they relend it at 6%, making 3% to cover costs, risks and profits. A sound bank not only has to match the maturities of its deposits with the maturities of its loans, but must insure loans are both highly secured and self-liquidating.
  • These principles have been totally lost. Today banks operate as hedge funds.
  • As an aside, if someone were to set up a well-capitalized 100% reserve bank in a tax haven, especially using gold as an alternative currency, it would be immensely successful in the years to come – when most all conventional banks will fail.
  • By all historical, normal parameters, the stock market is greatly overvalued.
  • The trillions of new currency units that the Fed is creating are creating bubbles, and one of them is in the stock market. The biggest bubble, of course, is in the bond market – that's a super bubble.
  • Not only does the dollar have no real value but the banks you keep it in are all insolvent.
  • There are few sound investments out there. Today there are no investments; there are only speculations.
  • From the economist's point of view, the bubbles created by central banking are a disaster, but from a speculator's point of view they're a godsend. It's becoming harder and harder to be an investor; I define an investor as someone who allocates capital to productive business. It's hard to be an investor because you now have to spend more money on lawyers than on engineers and workers if you want to produce something. You're increasingly forced to be a speculator in today's climate.
  • Stock and bond markets all over the world are overpriced – with the exception of Russian stocks right now; they could be a very interesting speculation. I wouldn't touch anything in China yet, because all the Chinese banks are going to go bust.
  • The Chinese have been more profligate inflating the yuan than the Americans have been with the dollar. It's fantastic what the Chinese have done since Deng liberalized the economy in the early '80s, but now's not a time to be in their markets.
  • You've got to remember there are two types of people in the world: people who want to control material reality and people who want to control other people.
  • It's that second type who go into politics. They play games – here it's called the Great Game, which dignifies it in a way it shouldn't be – with other people's lives and property. It's been this way ever since the state was created about 5,000 years ago, and I don't think you should play games with other people's lives.
  • On the bright side, there are more scientists and engineers alive today than in all of human history put together, and so technology is advancing more rapidly than ever for that reason. That's a huge plus.
  • The second good thing is that the average person, at least those who aren't on welfare, tries to produce more than he consumes. That creates capital.
  • But I'm afraid that Western civilization reached its peak before World War I. World War I destroyed a huge amount of capital and, more importantly, it changed the moral bases of so many things.
  • Then World War II institutionalized the State as the most important part of society – which is perverse, because the state is actually the enemy of civil society.
  • I think Western civilization reached its peak in 1913, when it reached its maximum geographical extent. That was coincidental with the peak of its technological and philosophical influence on the world, much the way the Roman Empire reached its peak at about the end of the first century, then went down, slowly at first and then quickly. That's what's happening to the West.
  • Relative to the rest of the world, and contribution to world production, our piece of the economic pie is getting smaller and smaller. If we have another serious war it would be absolutely smaller, and the final nail in the coffin. Meanwhile, the US, with its bloated military, is just itching for another war. It's out of control, and unlikely to change at this point. That's a big trend that is in motion that I think is going to stay in motion.
  • Europe is in particularly bad shape. The place is a fascist/socialist disaster.
  • It was possible for the average European to keep his head above water through tax evasion in the past, but now those governments have broken bank secrecy everywhere, and it will destroy a lot of capital.
  • The "nation-state" is a really stupid and dysfunctional idea, and I'm glad it's on its way out.
  • That said, even the US, which from a cultural point of view is as much of a country as any place in the world, should actually break up into at least five or six regions.
  • Canada should break up into at least five or six regions initially.
  • I don't think politically; politics is the problem, not the solution. I think that the ideal solution is for every individual to opt out of the current system. When they give a war, you don't come. When they give a tax, you don't pay. When they give an election, you don't vote. You even try not to use their currency and their banking system. T
  • he ideal thing is to let the system collapse under its own weight as opposed to starting a new political party and then continuing to act politically, which is to say to use force on other people.
  • Market risk is huge today, but political risk is even bigger. One indication of that was, when the banks in Cyprus went bust some months ago, the government essentially confiscated everybody's account above 100,000 euros, in what they called a "bail-in."
  • You need several options. It seems like people haven't learned anything from what happened in Russia in 1917, Germany in 1933, China in 1948, Cuba in 1959, or Vietnam in 1975. Rwanda, Cambodia, Yugoslavia, Zimbabwe, Ukraine, Syria ... there are lots of examples and these things can and will eventually happen almost everywhere. When the chimpanzees go crazy, you don't want to be where they are. You've got to have a Plan B. You've got to have a crib out of that political jurisdiction. Acting like a plant, and staying put, isn't a good survival strategy for a human.
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    "Doug Casey: I don't see a real recovery until they stop debasing the currency, radically cut government spending and taxation and eliminate most regulation. In other words, cease doing the things that caused this depression. And that's not going to happen until there's a collapse of the current order. Things have cyclically improved since the height of the crisis of 2008-09. The trillions of currency units created by the Federal Reserve have jammed the stock market higher and kept the big banks from going under. What surprises me is that retail prices have not moved as significantly as I would have expected. The reason, I believe, is that most of that money is still sitting in financial institutions. It has gone into cash out of fear, into stocks because they represent real wealth with earning power and into various speculative assets like artwork and collectible cars. Real estate has recovered somewhat, not because of strong fundamentals but strictly because of money creation. This isn't going to last because the way you get wealthy is by producing more than you consume and saving the difference - not by consuming more than you produce, and borrowing the difference. With the Fed keeping interest rates at artificially low levels, hoping to increase consumption, they're making it very foolish to save - when you get ½% or 1% on your savings. So people are saving less and they're borrowing more than they otherwise would. This is a formula for making things worse, not better. They are, idiotically, doing exactly the opposite of what they should be. Although, I hasten to add, I hate to pontificate on what the Fed "should" do. In point of fact, the Fed should be abolished; the market, not bureaucrats, should determine interest rates. We wouldn't be in this pickle to start with if the government wasn't involved in the economy. In fact, if it wasn't for the state, I suspect we'd all have a vastly higher standard of living, and would be colonizing the Moon, Mars and
Paul Merrell

The Fundamentals of US Surveillance: What Edward Snowden Never Told Us? | Global Research - Centre for Research on Globalization - 0 views

  • Former US intelligence contractor Edward Snowden’s revelations rocked the world.  According to his detailed reports, the US had launched massive spying programs and was scrutinizing the communications of American citizens in a manner which could only be described as extreme and intense. The US’s reaction was swift and to the point. “”Nobody is listening to your telephone calls,” President Obama said when asked about the NSA. As quoted in The Guardian,  Obama went on to say that surveillance programs were “fully overseen not just by Congress but by the Fisa court, a court specially put together to evaluate classified programs to make sure that the executive branch, or government generally, is not abusing them”. However, it appears that Snowden may have missed a pivotal part of the US surveillance program. And in stating that the “nobody” is not listening to our calls, President Obama may have been fudging quite a bit.
  • In fact, Great Britain maintains a “listening post” at NSA HQ. The laws restricting live wiretaps do not apply to foreign countries  and thus this listening post  is not subject to  US law.  In other words, the restrictions upon wiretaps, etc. do not apply to the British listening post.  So when Great Britain hands over the recordings to the NSA, technically speaking, a law is not being broken and technically speaking, the US is not eavesdropping on our each and every call. It is Great Britain which is doing the eavesdropping and turning over these records to US intelligence. According to John Loftus, formerly an attorney with  the Department of Justice and author of a number of books concerning US intelligence activities, back in the late seventies  the USDOJ issued a memorandum proposing an amendment to FISA. Loftus, who recalls seeing  the memo, stated in conversation this week that the DOJ proposed inserting the words “by the NSA” into the FISA law  so the scope of the law would only restrict surveillance by the NSA, not by the British.  Any subsequent sharing of the data culled through the listening posts was strictly outside the arena of FISA. Obama was less than forthcoming when he insisted that “What I can say unequivocally is that if you are a US person, the NSA cannot listen to your telephone calls, and the NSA cannot target your emails … and have not.”
  • According to Loftus, the NSA is indeed listening as Great Britain is turning over the surveillance records en masse to that agency. Loftus states that the arrangement is reciprocal, with the US maintaining a parallel listening post in Great Britain. In an interview this past week, Loftus told this reporter that  he believes that Snowden simply did not know about the arrangement between Britain and the US. As a contractor, said Loftus, Snowden would not have had access to this information and thus his detailed reports on the extent of US spying, including such programs as XKeyscore, which analyzes internet data based on global demographics, and PRISM, under which the telecommunications companies, such as Google, Facebook, et al, are mandated to collect our communications, missed the critical issue of the FISA loophole.
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  • U.S. government officials have defended the program by asserting it cannot be used on domestic targets without a warrant. But once again, the FISA courts and their super-secret warrants  do not apply to foreign government surveillance of US citizens. So all this sturm and drang about whether or not the US is eavesdropping on our communications is, in fact, irrelevant and diversionary.
  • In fact, the USA Freedom Act reinstituted a number of the surveillance protocols of Section 215, including  authorization for  roving wiretaps  and tracking “lone wolf terrorists.”  While mainstream media heralded the passage of the bill as restoring privacy rights which were shredded under 215, privacy advocates have maintained that the bill will do little, if anything, to reverse the  surveillance situation in the US. The NSA went on the record as supporting the Freedom Act, stating it would end bulk collection of telephone metadata. However, in light of the reciprocal agreement between the US and Great Britain, the entire hoopla over NSA surveillance, Section 215, FISA courts and the USA Freedom Act could be seen as a giant smokescreen. If Great Britain is collecting our real time phone conversations and turning them over to the NSA, outside the realm or reach of the above stated laws, then all this posturing over the privacy rights of US citizens and surveillance laws expiring and being resurrected doesn’t amount to a hill of CDs.
Paul Merrell

Exposing Nixon's Vietnam Lies | Consortiumnews - 0 views

  • After resigning over the Watergate political-spying scandal, President Nixon sought to rewrite the history of his Vietnam War strategies to deny swapping lives for political advantage, but newly released documents say otherwise, writes James DiEugenio.
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    Nixon's psychopathy was not unique. Indeed, it seems that psychopathy is a threshold requirement for elibility to assume the office of the U.S. Presidency. And it is a fundamental reason the U.S. government is so bellicose in its foreign policy. See discussion of definition at https://goo.gl/6w0Hj6
Gary Edwards

Is U.S. Now On Slippery Slope To Tyranny? - Thomas Sowell - 0 views

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    This is the article that has set the Web on fire.  Thomas Sowell takes the recent Obama shakedown of BP and cast these unconstitutional actions against the historical background of how tyrants go about the business of crushing constitutional liberty.  The first to go is the "rule of Law", as the crisis of the moment is used as an excuse to suspend the rule of Law for the good of the people. excerpt: "In our times, American democracy is being dismantled, piece by piece, before our very eyes by the current administration in Washington, and few people seem to be concerned about it. The president's poll numbers are going down because increasing numbers of people disagree with particular policies of his, but the damage being done to the fundamental structure of this nation goes far beyond particular counterproductive policies. Just where in the Constitution of the United States does it say that a president has the authority to extract vast sums of money from a private enterprise and distribute it as he sees fit to whomever he deems worthy of compensation? Nowhere. But our government is supposed to be "a government of laws and not of men." If our laws and our institutions determine that BP ought to pay $20 billion - or $50 billion or $100 billion - then so be it. But the Constitution says that private property is not to be confiscated by the government without "due process of law." With vastly expanded powers of government available at the discretion of politicians and bureaucrats, private individuals and organizations can be forced into accepting the imposition of powers that were never granted to the government by the Constitution. If you believe that the end justifies the means, then you don't believe in constitutional government. And, without constitutional government, freedom cannot endure. There will always be a "crisis" - which, as the president's chief of staff has said, cannot be allowed to "go to waste" as an opportunity to expand the government's p
Gary Edwards

The American Spectator : What Didn't Get Said at the Obammunism Health Care Summit - 0 views

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    Excellent discussion about the difference between Health Care and Health Benefits, and who is covered by which. excerpt:  Except of course, for the fundamental difference, which remains the same -- Republicans want to reform and improve health care without destroying its free-enterprise base, while Democrats would be very happy to see the entire thing absorbed into a government-controlled system, as half of it has been already through the extension of Medicare, Medicaid and other government programs. What became most outstanding is that President Obama and his teammates still do not have any real understanding of how the current system works..... Only 6 percent of the population actually buys their own insurance. (And for this, we are painting the insurance companies as the villains of this melodrama?) Fourteen percent of the population is on Medicare, 14 percent on Medicaid. The other 66 percent do not have insurance but health benefits¸, which is not the same thing. Nine percent gets its benefits from government employment, 4 percent from the military and the remaining 43 percent get their benefits from private employment. The last 15 percent (there is some overlap) has no coverage at all. President Obama kept talking about how it is these "large pools" in big companies that make insurance cheap, but that is not true. Large pools are only part of the equation. Equally important is that these employees are getting their benefits tax-free. This is a huge advantage not available to the uninsured population. Because the government is not getting its cut, employers are also eager to convey benefits to their employees instead of wage increases because they have more value. This is why, for many people, health benefits constitute the major reason for employment. Wages transfer easily from job to job but benefits do not. Yet another advantage of company-run health benefits programs is that they are exempt from state regulations. ....... 
Gary Edwards

Paul D. Ryan: A GOP Road Map for America's Future - WSJ.com - 0 views

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    America needs an alternative. For that reason, I have reintroduced my plan to tackle our nation's most pressing domestic challenges-updated to reflect the dramatic decline in our economic and fiscal condition. The plan, called A Road Map for America's Future and first introduced in 2008, is a comprehensive proposal to ensure health and retirement security for all Americans, to lift the debt burdens that are mounting every day because of Washington's reckless spending, and to promote jobs and competitiveness in the 21st century global economy. The difference between the Road Map and the Democrats' approach could not be more clear. From the enactment of a $1 trillion "stimulus" last February to the current pass-at-all costs government takeover of health care, the Democratic leadership has followed a "progressive" strategy that will take us closer to a tipping point past which most Americans receive more in government benefits than they pay in taxes-a European-style welfare state where double-digit unemployment becomes a way of life. Americans don't have to settle for this path of decline. There's still time to choose a different future. That is what the Road Map offers. It is based on a fundamentally different vision from the one now prevailing in Washington. It focuses the government on its proper role. It restrains government spending, and hence limits the size of government itself. It rejuvenates the vibrant market economy that made America the envy of the world. And it restores an American character rooted in individual initiative, entrepreneurship and opportunity. Here are the principal elements:
Gary Edwards

Thoughts from the Frontline | John Mauldin Newsletter - 0 views

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    I've been reading John Mauldin's newsletter for some time now.  The guy is so grounded, and his writing style is fluid.  Mostly though i appreciate the depth of background information that surrounds the simplicity of his explanations.  Note his connections to George Friedman, Niall Ferguson David Rosenberg, Lacy Hunt and Gary Shilling.  Quite a murders row of economic thinking.  anyway, John's newsletter has become the bottom line of my economic thinking. excerpt:     "Our immersion in the details of crises that have arisen over the past eight centuries and in data on them has led us to conclude that the most commonly repeated and most expensive investment advice ever given in the boom just before a financial crisis stems from the perception that 'this time is different.' That advice, that the old rules of valuation no longer apply, is usually followed up with vigor. Financial professionals and, all too often, government leaders explain that we are doing things better than before, we are smarter, and we have learned from past mistakes. Each time, society convinces itself that the current boom, unlike the many booms that preceded catastrophic collapses in the past, is built on sound fundamentals, structural reforms, technological innovation, and good policy." - This Time is Different (Carmen M. Reinhart and Kenneth Rogoff) When does a potential crisis become an actual crisis, and how and why does it happen? Why did most everyone believe there were no problems in the US (or Japanese or European or British) economies in 2006? Yet now we are mired in a very difficult situation. "The subprime problem will be contained," said now controversially confirmed Fed Chairman Bernanke, just months before the implosion and significant Fed intervention. I have just returned from Europe, and the discussion often turned to the potential of a crisis in the Eurozone if Greece defaults. Plus, we take a look at the very positive US GDP numbers released this morning. Are we final
Gary Edwards

Here's The Problem With This Market Crash... - 1 views

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    Obama and the Federal reserve are out of bullets......... The only thing that will work is Cut, Cap and Balance - the TEA Party Patriot formula that passed the House during the run up to the Natioanl Debt Limit SCAM, only to be immediately tabled and discarded by the ruling elites in the Bankster, Democrat and Repubican establishment.  With 69% of the taxpaying public in support of the Balanced Budget Amendment, one would have thought the ruling elites would have shown a bit more respect for Cut, Cap & Balance.  What we got however was anything but.   In this article Long time liberal - big government - let me into the elite ruling class advocate Henry Blodgett looks into the chasm, wondering how to pull back from the brink impending disaster. excerpt:  there are also several very important differences between this market crash and the ones a few years ago: ........... The Fed has fired most of its bullets (interest rates are already at zero) ............. Our budget deficit is already out of control, and Congress has had it with "stimulus" ............... The public has had it with bailouts That means the government's ability to do anything about this market crash is severely limited. Yes, we'll almost certainly have a "QE3." And maybe that will prop things up a bit. But it won't fix the fundamental problems clogging the economy, just as QE1 and QE2 didn't permanently fix anything. (The only thing that will fix our economy is debt-reduction, discipline, and time.)............
Gary Edwards

Billionaire Howard Marks On The Debt Ceiling And The Inevitable Decline In Relative US Living Standards - 0 views

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     the underlying issue is that the U.S. has borrowed too much, and now has a higher debt to GDP ratio than it has ever -- and because the U.S. will inevitably borrow even MORE because 1. everyone believes that lower taxes and stimulus are needed to stimulate growth and 2. if we don't, growth in the U.S. will depress -- the reality is that our lifestyle (individuals and the government spending what they don't have) is unsustainable. He says: "In addition to balancing the budget and growing the economy, I think we have to accept that the coming decades are likely to see U.S. standards of living decline relative to the rest of the world. Unless our goods offer a better cost/benefit bargain, there's no reason why American workers should continue to enjoy the same lifestyle advantage over workers in other countries. I just don't expect to hear many politicians own up to this reality on the stump." His other big points: ..... "The dollar can no longer be the reserve currency" without unflinching adherence to the associated responsibilities. ..... The debt ceiling "solution" is unlikely to represent much fundamental progress; for the most part it'll just kick the can down the road because politicians are too concerned about getting re-elected to compromise....... "We have no choice but to raise the debt ceiling and keep borrowing in the short-term."....... "Washington's spending has recently been higher as a percentage of the nation's economic output than at any time since World War II. But by the same measure, Washington's revenues are the lowest in more than 60 years." ..... When asked about conservatives' insistence on a balanced-budget amendment to the Constitution, President Obama replied, "We don't need a constitutional amendment to do that [balance the budget]; what we need to do is to do our jobs." But clearly we do need some enforced discipline, because the years in which we haven't run a deficit have been by far the exception of late, n
Gary Edwards

Americans Have Been Taken Hostage | Dylan Ratigan - 0 views

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    A system where bank lobbyists have been spending in record numbers to make sure it stays that way. A system that corrupts the most basic principles of competition and fair play, principles upon which this country was built. It is a system that so far has forced the taxpayer to provide the banks with the use of $14 trillion from the Federal Reserve, much of the $7 trillion outstanding at the US Treasury and $2.3 trillion at the FDIC. A system partially built by the very people who currently advise our President, run our Treasury Department and are charged with its reform. And most stunningly -- it is a system that no one in our government has yet made any effort to fundamentally change.
Gary Edwards

321energy :: The Greatest Transfer of Wealth in History :: Bob Moriarty - 0 views

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    Bob Moriarty from 321 Energy provides a brief explanation of the fundamentals -  excerpt: I've made it clear for a year that I believe we have entered what will be the most serious depression in history. It also will involve the greatest transfer of wealth in history. There are two basic classes of assets. There are paper assets and real assets. An ounce of gold is a real asset. A copper mine is a real asset. A house is a real asset. An oil field is a real asset. Over the counter derivatives now total over $596 trillion dollars, (click here [pdf]) ten times the size of the world economy. Those are paper assets, their value is derived from some other asset. That derivative size is what is going to destroy the world's financial system, it's all fraud. A mortgage is a paper asset. A T-Bill or T-Bond is a paper asset. A $100 bill is a paper asset. It's pretty easy to see that a $500,000 mortgage on a house now worth $250,000 isn't worth very much. Latest figures show 9.6 million homes in the US have negative equity. How many of those loans are going to be paid back? According to an ex-Fed Director, both Fannie Mae and Freddie Mac are bankrupt. They were leveraged 65-1. For those comforted by the thought of the FDIC bailing you out should the banking system fail entirely, you need to realize the FDIC is leveraged at 130-1. We are told that the collapse of Washington Mutual alone could bankrupt the FDIC. In a depression, no real assets appear or disappear. Paper assets, on the other hand, turn to vapor. But the ownership of real assets will change as the real assets move from weak hands into strong hands.
Gary Edwards

Big Lies and Little Facts - The Global Warming Hoax and the lier's who promote it - WSJ.com - 0 views

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    quote from global warming hoax advocate Stephen H. Schneider: "as scientists we are ethically bound to the scientific method, in effect promising to tell the truth, the whole truth, and nothing but--which means that we must include all the doubts, the caveats, the ifs, ands, and buts." So let me get this straight.  Scientist who support the global warming hoax are lying.  That puts them at odds with the most fundamental of scientific requirements - don't lie.  So therefore, global warming hoaxsters have disqualified themselves as legitimate scientists.  At best, they are dissembling practitioners of "political science". So, if we disqualify the scientific posers who are lying about global warming, and then take a look at the consensus of real scientist left (truth tellers), we have an interesting fact.  100% of legitimate scientists do not believe in the global warming hoax.   100% consensus!!! Bastardos.  Potemkin villages.  Show trials. 5 year plans.  Where have we seen this before?
Paul Merrell

Reset The Net - Privacy Pack - 0 views

  • This June 5th, I pledge to take strong steps to protect my freedom from government mass surveillance. I expect the services I use to do the same.
  • Fight for the Future and Center for Rights will contact you about future campaigns. Privacy Policy
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    I wound up joining this campaign at the urging of the ACLU after checking the Privacy Policy. The Reset the Net campaign seems to be endorsed by a lot of change-oriented groups, from the ACLU to Greenpeac to the Pirate Party. A fair number of groups with a Progressive agenda, but certainly not limited to them. The right answer to that situation is to urge other groups to endorse, not to avoid the campaign. Single-issue coalition-building is all about focusing on an area of agreement rather than worrying about who you are rubbing elbows with.  I have been looking for a a bipartisan group that's tackling government surveillance issues via mass actions but has no corporate sponsors. This might be the one. The reason: Corporate types like Google have no incentive to really butt heads with the government voyeurs. They are themselves engaged in massive surveillance of their users and certainly will not carry the battle for digital privacy over to the private sector. But this *is* a battle over digital privacy and legally defining user privacy rights in the private sector is just as important as cutting back on government surveillance. As we have learned through the Snowden disclosures, what the private internet companies have, the NSA can and does get.  The big internet services successfully pushed in the U.S. for authorization to publish more numbers about how many times they pass private data to the government, but went no farther. They wanted to be able to say they did something, but there's a revolving door of staffers between NSA and the big internet companies and the internet service companies' data is an open book to the NSA.   The big internet services are not champions of their users' privacy. If they were, they would be featuring end-to-end encryption with encryption keys unique to each user and unknown to the companies.  Like some startups in Europe are doing. E.g., the Wuala.com filesync service in Switzerland (first 5 GB of storage free). Compare tha
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