British Labour leader vows to break up banks

British Labour leader vows to break up banks

Britain's opposition Labour leader Ed Miliband (pictured in July) vowed to break-up the country's biggest banks if his party came to power at the next general election, in an interview with the Observer.

AFP - Britain's opposition Labour leader Ed Miliband vowed to break-up the country's biggest banks if his party came to power at the next general election, in an interview with a Sunday newspaper.
Miliband, whose party enjoys a 10-point lead in the latest polls, told the Observer newspaper that he would split the banks' "casino" investment operations from their high-street arms.
"Either they can do it themselves, which frankly is not what has happened over the past year, or the next Labour government will, by law, break up retail and investment banks," he warned.
Speaking ahead of the party's annual conference, set to open in Manchester on Sunday, Miliband urged banks to focus less on "playing the international money markets" and more on lending to small businesses.
A government-commissioned report led by John Vickers advocated a ringfence between banks' operations, but Bank of England chief Mervyn King last month warned that bank lobbying had "watered down" proposed reforms.
"The banks and the government can change direction and say they are going to implement the spirit and principle of Vickers to the full," said the Labour leader.
"That means the hard ringfence between retail and investment banking. We need real separation, real culture change. Or we will legislate."
Miliband on Saturday used a pre-conference question-and-answer session to outline his party's support for younger people.
He called for a sharper focus on vocational training and gave his backing for the voting age to be brought down to 16.
But he admitted that his party would not reverse many public spending cuts implemented by the current coalition government.
Despite the party's positive poll ratings, Miliband's personal ratings remain unimpressive.

US dollar decline: the most serious issue of all

Dollar Hegemony in the Empire of the Damned

By Colin Todhunter

Global Research, September 26, 2012

Many commentators and economists wonder if the US is able to turn its ailing economy around. The reality is that it is bankrupt. However, as long as the dollar remains the world currency, the US can continue to pay its bills by simply printing more money. But once the world no longer accepts the dollar as world reserve currency, the US will no longer be able to continue to pay its way or to fund its wars by relying on what would then be a relatively valueless paper currency.

And the US realises this. Today, more than 60 per cent of all foreign currency reserves in the world are in US dollars, and the US will attempt to prevent countries moving off the dollar by any means possible. It seems compelled to do this simply because its economic infrastructure seems too weak and US corporate cartels will do anything to prevent policies that eat into their profits or serve to curtail political influence. They serve their own interests, not any notional ‘national interest’.

Pail Graig Roberts, former Assistant Secretary of the US Treasury, notes that much of the most productive part of the US economy has been moved offshore in order to increase corporate profits. By doing so, the US has lost critical supply chains, industrial infrastructure, and the knowledge of skilled workers. According to Roberts, the US could bring its corporations back to America by taxing their profits abroad and could also resort to protective tariffs, but such moves would be contrary to the material interests of the ruling oligarchy of private interests, which hold so much sway over US politics.

So, with no solution to the crisis in site, the US is compelled to expand its predatory capitalism into foreign markets such as India and to wage imperialist wars to maintain global allegiance to the dollar and US hegemony. And this is exactly what we are seeing today as the US strategy for global supremacy is played out.

Over the past two decades, the US has extended its influence throughout Eastern Europe, many of the former Soviet states in central Asia and, among other places, in the former Yugoslavia, Libya, Iraq, Yemen, Afghanistan, Syria and Pakistan. But with each passing year and each new conflict, the US has been drawing closer and closer to direct confrontation with Russia and China, particularly as it enters their backyards in Asia and as China continues to emerge as a serious global power.

Both countries are holding firm over Syria. Syria plays host to Russia’s only naval base outside of the former USSR, and Russia and China know that if the US and its proxies topple the Assad government, Tehran becomes a much easier proposition. Ideally, the US would like to install compliant regimes in Moscow and Beijing and exploiting political and ethnic divisions in the border regions of Russia and China would be that much easier if Iran fell to US interests.

A global US strategy is already in force to undermine China’s growth and influence, part of which was the main reason for setting up AFRICOM: US Africa Command with responsibility for military operations and relations across Africa. But China is not without influence, and its actions are serving to weaken the hegemony of the US dollar, thereby striking at a key nerve of US power.

China has been implementing bilateral trade agreements with a number of countries, whereby trade is no longer conducted in dollars, but in local currencies. Over the past few years,China and other emerging powers such as Russia have been making agreements to move away from the US dollar in international trade. The BRICS (Brazil, Russia, India, China,South Africa) also plan to start using their own currencies when trading with each other. Russia and China have been using their own national currencies when trading with eachother for more than a year.

A report from Africa’s largest bank, Standard Bank, recently stated:

“We expect at least $100 billion (about R768 billion) in Sino-African trade – more than the total bilateral trade between China and Africa in 2010 – to be settled in the renminbi by 2015.”

Under Saddam, Iraq was not using the dollar as the base currency for oil transactions, neither is Iran right now. Even Libya’s Muammar Gadhaffi was talking about using a gold backed dinar as the reserve currency for parts of Africa. Look what happened to Libya and Iraq as a result.

In 2000, Iraq converted all its oil transactions to euros. When U.S. invaded Iraq in 2003, it returned oil sales from the euro to the dollar. Little surprise then that we are currently watching the US attempt to remove the Iranian regime via sanctions, destabilization, intimidation and the threat of all out war.

In the meantime, though, Iran is looking east to China, Pakistan and central Asia in order to counteract the effects of US sanctions and develop its economy and boost trade. In order to sustain its empire, US aggression is effectively pushing the world into different camps and a new cold war that could well turn into a nuclear conflict given  that    Russia,          China and Pakistan all have nuclear weapons.

The US economy appears to be in terminal decline. The only way to prop it up is by lop-sided trade agreements or by waging war to secure additional markets and resources and to ensure the dollar remains the world reserve currency. Humankind is currently facing a number of serious problems. But, arguably, an empire in decline armed to the teeth with both conventional and nuclear weapons and trapped in a cycle of endless war in what must surely be a futile attempt to stave off ruin is the most serious issue of all.

Originally from the northwest of England,  Colin Todhunter has spent many years in India. He has written extensively for the Deccan Herald (the Bangalore-based broadsheet), New Indian Express and Morning Star (Britain). His articles have also appeared in various other publications. His East by Northwest website is at http://colintodhunter.blogspot.com

“Pre-emptive Neutralization” of terrorist banking cabals ?

Reagan Directive on “Pre-emptive Neutralization” of Terrorists

September 28th, 2012 by Steven Aftergood

http://www.fas.org/blog/secrecy/2012/09/nsdd_138.html

In 1984, President Reagan ordered the Director of Central Intelligence to develop “capabilities for the pre-emptive neutralization of anti-American terrorist groups which plan, support, or conduct hostile terrorist acts against U.S. citizens, interests, and property overseas.”
The President further ordered the DCI to “develop a clandestine service capability, using all lawful means, for effective response overseas against terrorist acts commmitted against U.S. citizens, facilities, or interests.”
Those instructions were contained in National Security Decision Directive 138, “Combatting Terrorism,” which was issued on April 3, 1984.
A few weeks earlier, Hezbollah forces in Lebanon had kidnapped William Buckley, the CIA station chief in Beirut.
NSDD 138 remained classified for many years and was not fully declassified until two years into the Obama Administration.

Millions of Bankers can’t bank online

HIGH ALERT! Millions of Bankers can’t bank online. BofA blames Hackers from MIddle East. Bank cyber attacks by Iran? Black Monday October 1, 2012?

September 28th, 2012

http://investmentwatchblog.com/high-alert-millions-of-bankers-cant-bank-online-bofa-blames-hackers-from-middle-east/

The financial and banking industries are on high alert tonight as a massive cyberattack continues, with potentially millions of customers of Bank of America, PNC and Wells Fargo finding themselves blocked from banking online.

“There is an elevated level of threat,” said Doug Johnson, a vice president and senior adviser of the American Bankers Association. “The threat level is now high.”

“This is twice as large as any flood we have ever seen,” said Dick Clarke, an ABC News consultant and former cybersecurity czar.

Sources told ABC News that the so-called denial of service attacks had been caused by hackers from the Middle East who had secretly transmitted signals commandeering thousands of computers worldwide.

http://abcnews.go.com/US/hackers-block-us-banks-online-service-bank-america/story?id=17343055#.UGWYNkXyaCM

A group of purported hackers in the Middle East has claimed credit for problems at the websites of both banks, citing the online video mocking the founder of Islam. One security source called that statement “a cover” for the Iranian government’s operations.

The attack is described by one source, a former U.S. official familiar with the attacks, as being “significant and ongoing” and looking to cause “functional and significant damage.” Also, one source suggested the attacks were in response to U.S. sanctions on Iranian banks.

Senior U.S. officials acknowledge that Iranian attacks have been the subject of intense interest by U.S. intelligence for several weeks. Last week, the Joint Chiefs of Staff’s Intelligence Directorate, known as J-2, confirmed continuing Iranian cyber attacks against U.S. financial institutions in a report described as “highly classified.”

http://openchannel.nbcnews.com/_news/2012/09/20/13990206-officials-see-iran-not-outrage-over-film-behind-cyber-attacks-on-us-banks

Cyber attacks on JPMorgan, Wells Fargo expose serious vulnerabilities of U.S. banks

Cyber attacks on the biggest U.S. banks, including JPMorgan Chase & Co. (JPM) and Wells Fargo (WFC) & Co., have breached some of the nation’s most advanced computer defenses and exposed the vulnerability of its infrastructure, said cybersecurity specialists tracking the assaults.

The attack, which a U.S. official yesterday said was waged by a still-unidentified group outside the country, flooded bank websites with traffic, rendering them unavailable to consumers and disrupting transactions for hours at a time.

Such a sustained network attack ranks among the worst-case scenarios envisioned by the National Security Agency, according to the U.S. official, who asked not to be identified because he isn’t authorized to speak publicly. The extent of the damage may not be known for weeks or months, said the official, who has access to classified information.

http://www.bloomberg.com/news/2012-09-28/cyber-attacks-on-u-s-banks-expose-computer-vulnerability.html

Bank cyber attacks by Iran? Black Monday October 1, 2012?

OK. Just to be safe, go max out your ATM daily cash
withdrawals each day now and throughout the weekend,
and top off your gas tanks…

CHECK YO MONEY! Websites At The BIGGEST Banks In The U-S Attacked!
http://www.blackmediascoop.com/2012/09/28/check-yo-money-websites-at-the-largest-banks-in-the-u-s-attacked-this-week/

Most Extensive Cyber Attack On American Banks Ever! Launched From The Middle East & Happening 
http://www.youtube.com/watch?v=Fg3tpUCt8wY

- Skin Suit

Read more at http://investmentwatchblog.com/high-alert-millions-of-bankers-cant-bank-online-bofa-blames-hackers-from-middle-east/#wkoZlp1ptoHJcDgH.99 

Twelfth Annual North American Basic Income Guarantee Congress

CALL FOR PAPERS AND PRESENTATIONS

 

Basic Income and Economic Citizenship

Twelfth Annual North American Basic Income Guarantee Congress

 

Thursday May 9th to Saturday May 11th, 2013

Sheraton Hotel and Towers, New York City

The Twelfth Annual North American Basic Income Congress, Basic Income and Economic Citizenship, will take place in New York City on Thursday, May 9th through Saturday, May 11th, 2013. The congress is organized by the U.S. Basic Income Guarantee Network (USBIG) in cooperation with the Basic Income Canada Network (BICN/RCRG), and will be held in conjunction with the Annual Meeting of the Eastern Economic Association (EEA). Attendees at the North American Basic Income Congress are welcome to attend any of the EEA’s events.

The North American Basic Income Congress (NABIG Congress) was originally the USBIG Congress, and was organized by the USBIG Network. It became a joint event of the USBIG Network and BICN/RCRG in 2010. Since then, it has been a NABIG Congress held on alternate years in the United States and Canada. Previous NABIG congresses have been held in Montréal, Toronto, Boston, Washington, Philadelphia, and New York City.

Featured speakers of this year’s NABIG Congress include Sheri Berman, Barnard College, author of The Primacy of Politics: Social Democracy and the Making of Europe’s Twentieth Century; and Jurgen De Wispelaere, University of Montréal, co-editor of The Ethics of Stakeholding.

USBIG and BICN/RCRG promote discussion and research on the idea of a basic income—an unconditional guaranteed minimum income that provides a basic but decent standard of living to all. Scholars, activists, and others are invited to propose papers and organize panel discussions on the basic income guarantee or other topics related to poverty and the distribution of wealth and income, including but not limited to:

• strengthening economic citizenship through universal grants and other measures;
• democratizing the economy through budget, tax, and labor market reform;
• building consensus around measures that promote equality;
• models and cost estimates for universal grants;
• issues of gender and the family;
• social justice;
• political prospects for universal grants in North America and around the world; and
• lessons from local pilots, programs, and initiatives.

All points of view are welcome, and proposals from any discipline are invited. To present a paper, organize a panel, or display a poster at the congress, submit a proposal to the congress organizer, Almaz Zelleke of USBIG, at azelleke@gmail.com.

Please include the following information with your proposal:

1. Name(s)

2. Affiliation(s)

3. Address

4. City, Province/State, Postal/Zip Code, and Country

5. Telephone

6. Email Address(es)

7. Paper/Presentation/Panel/Poster Title

8. Abstract or description of 50-150 words

DEADLINE FOR PROPOSALS: November 30th, 2012

Proposals for panel discussions should include a title, topic, and description of the panel and the information above for each participant. If the participants in a panel discussion are not presenting formal papers, the title of the paper and abstract may be omitted. Panels should be limited to no more than four presentations.

REGISTRATION:

Attendees and presenters at the NABIG conference must register with EEA. USBIG participants, who are not economists, can register for $95, a discount of $60 off the regular price of $155. NA-BIG who are economists should become full members of the EEA and pay the full price. The EEA has set up a special online payment system.

For economists: http://eeaorg.myshopify.com/products/usbig-registration-academic

For non-economists: http://eeaorg.myshopify.com/products/usbig-registration-non-academic

MORE INFORMATION:

For updated information on featured speakers, registration, and accommodations as it becomes available, visit the USBIG website at www.usbig.net. For more information about the EEA Annual Meeting, visit the EEA website at http://www.ramapo.edu/eea/2013/.

===========================================================
KARL WIDERQUIST

Judge throws out CFTC's position limits rule

Submitted by cpowell on Fri, 2012-09-28 20:41. Section: Daily Dispatches

By Alexandra Alper and Karey Wutkowski
Reuters
Friday, September 28, 2012

http://www.reuters.com/article/2012/09/28/us-cftc-positionlimits-idUSBRE...

WASHINGTON -- A federal judge handed an 11th-hour victory to Wall Street's biggest commodity traders today, knocking back tough new regulations that would have cracked down on speculation in energy, grain, and metal markets.

Judge Robert Wilkins of the U.S. District Court for the District of Columbia threw out the U.S. Commodity Futures Trading Commission's new position limits rule and sent the regulation back to the agency for further consideration.

Wilkins ruled that, by law, the CFTC was required to prove that the position limits in commodity markets are necessary to diminish or prevent excessive speculation.

He also ruled that the amendments to the 2010 Dodd-Frank financial oversight law "do not constitute a clear and unambiguous mandate to set position limits, as the commission argues."

The ruling is a major victory for traders just two weeks before parts of the new position limits rule were scheduled to go into effect.

The Securities Industry and Financial Markets Association and the International Swaps and Derivatives Association brought the suit against the CFTC, arguing that the regulations would force their members to drastically alter their businesses, cost them tens of millions of dollars, and send customers fleeing.

Wall Street has also long argued that regulators have not proven that position limits would curb speculation in markets and prevent disruptive price spikes.

The CFTC and industry groups that brought the suit did not immediately have comment.

The agency passed the position limit rule last year, in a bid to limit the number of contracts traders can hold in 28 commodities, including oil, coffee, and gold.

* * *

Statement by CFTC Commissioner Bart Chilton
on Ruling to Vacate Position Limits Rule

Friday, September 28, 2012

This is obviously tough news for those of us who believe there's too much speculative concentration in commodity futures and swap markets. While I respect the judgment of the court, there's no question that huge individual trader positions have the potential to influence prices in a way that hurts legitimate hedgers and ultimately consumers.

I will continue to push hard for a position limits rule, as mandated by Congress. This is clearly a setback but we can learn from it and continue this critical effort to help make our markets safe and fair.

The HARAKIRI of John Perkins

To: John Perkins - Re: Lennon Ono Grant for Peace 2012   

I've read about your receiving the prize Lennon and let me say that is a big mistake in any case, to receive it together with operation Pussy Riots.
Case 1: you are sill an operative and you will be exposed;
case 2. you are not an operative anymore and it will compromise your credibility anyway.
My best advice: go there, refuse the prixe by explaining why and your stance about the Pussy Riots psy-op.

Original message:

John Perkins to receive Lennon Ono Grant for Peace 2012                    

Dear Friends,

John Lennon is one of my heroes. His music, his writings, and the courage he exhibited when he spoke out against injustice and took actions for peace have inspired me since my college years. His example – his willingness to stand up to those who would have us believe that exploitation and war are part of the human condition and his commitment to creating a sustainable and peaceful world – encouraged me to write Confessions of an Economic Hit Man. It is with deep gratitude and humility that I share with you the below announcement.

I hope to see some of you at one of my upcoming events in Washington DC. The variety of the venues is evidence that people from different walks of life are committed to building bridges between communities and cultures.

John

· Sept 27, 2012, 7PM-Talk - NATIONAL PRESS CLUB

· Sept 29, 2012, 3PM-Talk - GREEN FESTIVAL

· Oct 1, 2012, 7PM-Talk - IRANIAN CULTURAL ASSOCIATION

For more information see http://www.johnperkins.org/



John Perkins is one of the five recipients of the LENNON ONO GRANT FOR PEACE 2012.

On October 9th, 2012, in Reykjavik, Iceland, Yoko Ono will give the Biennial LENNON ONO GRANT FOR PEACE to five activists. This day also celebrates the birthday of John Lennon and his son Sean.

This year’s LENNONONO GRANT FOR PEACE recipients are:

•     John Perkins

•     Rachel Corrie

•     Christopher Hitchens

•     Pussy Riot 

Greek Protests Get Violent

Greek Protests Get Violent After New Austerity Cuts

Protests and marches sweep across Greece in advance of austerity cuts.

http://www.alternet.org/activism/greek-protests-get-violent-after-new-austerity-cuts?akid=9450.51788.Shls1L&rd=1&src=newsletter717162&t=12&paging=off

September 26, 2012  |  

 

 

Police and masked youths clashed in Athens on Wednesday during a nationwide strike in protest at a new round of austerity cuts introduced in return for crucial EU-IMF loans.

Gangs of youths threw firebombs, smashed windows and set fire to garbage on the sidelines of the demonstration near luxury hotels on the capital's central Syntagma square.

The police responded by firing tear gas and stun grenades to disperse them.

Dozens of people were detained, according to a police source, as crowds moved towards the capital's other central square, Omonia, booing and throwing plastic bottles at the special forces that were present.

The protests rallied striking civil servants and private sector workers as well as students and pensioners, who have all been hit by previous rounds of cutbacks in the debt-laden eurozone country.

Nearly 34,000 people marched in Athens and another 18,000 in Thessaloniki, according to the police, in the first general strike to be held since the new government took office in June, bringing the country to a standstill.

Flights, train services and ferries were halted while the public sector, including museums, shut down.

"For the past two-to-three years we've been living an incredible social catastrophe," said Ilias Loizos, a 56-year-old municipal worker.

"My salary has been cut by 50 percent. I have two children and tomorrow I don't know if I'll have a job," he said.

The demonstration left the capital's city center cluttered with piles of smouldering refuse and debris, but cleaning up could prove a challenge: the authorities recently decided not to renew the contracts of 352 garbage collectors.

"This will be a huge problem in collecting the garbage from the city center," especially after demonstrations, 39-year-old Sakis Zeibekis, whose contract was not renewed on Monday despite an 11-year continuous run, told AFP.

It is the first general strike to test the resolve of the coalition government that took office in June to keep recession-hit Greece in the eurozone as it rushes to finalise a package of some 11.5 billion euros ($15 billion) in extra cuts.

Another two billion euros must be raised from taxes under the austerity measures due to be introduced to parliament in early October by the three-party coalition headed by conservative Prime Minister Antonis Samaras.

A finance ministry source said the package had been rubber-stamped by the prime minister and now awaited the approval of coalition partners and international creditors.

Finance Minister Yannis Stournaras will present the completed package to the government's junior partners, socialists Pasok and moderate leftists the Democratic Left, on Thursday, according to the same source.

The new cuts will affect thousands of civil servants who have already suffered salary reductions of up to 40 percent over the last two years.

The age of retirement is also expected to be raised from 65 to 67, just two years after a previous hike.

The austerity package is designed to unblock access to 31.5 billion euros in loans, part of Greece's massive rescue package from the so-called troika of creditors -- the EU, the IMF and the European Central Bank.

Athens needs the money to pay state salaries and pensions, recapitalise Greek banks hit by a state debt rollover and repay more than six billion euros owed to private contractors.

But even this latest round of austerity measures might not be enough to get Greece's troubled rescue and reform operation back on the rails.

Unions say that cutbacks to trim the country's soaring deficit have caused record unemployment and a deepening recession now in its fifth year.

Cutbacks have caused mounting anger in other struggling economies in the eurozone's southern flank.

Over 100,000 people protested in Portugal earlier this month, and on Tuesday more than 60 were injured in Madrid in clashes near parliament.

International Monetary Fund chief Christine Lagarde had warned on Tuesday that delays in implementing Greece's bailout programme, including privatisations, had expanded the country's financing shortfall.

"As a result of the major delay in privatisation... and the limited revenue collection, there's a financing gap, especially if factoring in more time," Lagarde told an audience at the Peterson Institute for International Economics.

"We don't only need 11.5 billion euros of cuts; we need a series of cuts and additional revenues in order to fill in the fiscal gap," she said.

Nash dynamics of the wealthy, powerful, and privileged

Nash dynamics of the wealthy, powerful, and privileged: America’s two-player, Darwin metaeconomy

'Democracy kidnapped!' Madrid Democrazis fire rubber bullets

'Democracy kidnapped!' Madrid police fire rubber bullets as thousands surround Spanish Congress (VIDEO, PHOTOS)

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Published: 25 September, 2012, 17:09
Edited: 26 September, 2012, 03:43

TAGS:
Election, EU, Crisis, Protest, Politics,Banking, Finance, Global economy

Police charge demonstrators outside the the Spanish parliament in Madrid, September 25, 2012. (Reuters/Paul Hanna)

(16.8Mb)embed video

  

RT on

Madrid riot police have cleared Plaza de Neptune of protesters, with about 200 officers securing the surrounding blocks. At least 60 people have been injured and 26 arrested as police used batons and rubber bullets to disperse the crowd.

Local emergency services have confirmed that at least 60 people, including eight policemen, were injured in clashes between police and protesters, El Pais reports. One of the wounded is believed to be in critical condition, while one of the injured policemen suffered a severe concussion.

Riot police dispersed the protesters, dragging some who had tried to get through police lines by their arms and legs. An uneasy order was restored and reinforcements were brought in to try and disperse the crowd. 

Thirteen of those arrested have been detained after a group of protesters tried to break through the police barrier for the first time. Further arrests were carried out during the following clashes, bringing the total number of arrests to some 60, El Pais reported.

Authorities estimate that about 6,000 people took part in Tuesday’s protest. Over 1,300 riot police officers were deployed in the capital, which is more than a half the country's riot police force.

Protests organizers have decided to repeat the protest and block the Parliament once again on Wednesday.

Reuters/Susana Vera

Reuters/Susana Vera

Reuters/Susana Vera

The poster reads "This certainly is Madrid without hope". (Reuters/Sergio Perez)

Thousands of activists have congregated in Madrid’s Plaza de Neptune, 100 meters from the Congress building, to protest Spanish austerity measures.

The demonstrators pledged to march around the building, and called for new elections. Metal barriers have been placed around the building to block access from every possible direction.

Demonstrators waved banners with the slogan ‘No’ written on them, in reference to the austerity policies of the Spanish government.

Protesters said that today is a key day to level criticism against politicians and the Spanish government. The city stationed armored police vehicles bumper-to-bumper around the parliament building, and announced that around 1,300 police would be deployed to counter the protesters.

Reuters/Paul Hanna

Reuters/Paul Hanna

Reuters/Paul Hanna

Reuters/Andrea Comas

Reuters/Paul Hanna

The organizers of the protest dubbed their movement ‘Surround Congress,’ and expressed hopes that thousands would turn out. The protestors called themselves ‘indignants’ and claimed that their democracy had been ‘kidnapped,’ calling for new elections and rallies against the austerity measures enacted by Mariano Rajoy’s government.

Some 200 demonstrators gathered near the city’s main railway station chanting “Rescue democracy,” and “This is not a crisis, it’s a swindle.”

Reuters/Susana Vera

Reuters/Susana Vera

Reuters/Andrea Comas

Carmen Rivero – a 40-year old photographer who travelled overnight by bus from the southern city of Granada – said,“We think this is an illegal government. We want the parliament to be dissolved, a referendum and a constituent assembly so that the people can have a say in everything.”

Another 100 protesters were scattered across the city’s main square, the Plaza de Espana.

“This is not a real democracy. This is a democracy kidnapped by the parties in collaboration with the economic powers and the people have no say in it,” said Romula Barnares, a 40-year-old artist wearing sunglasses with a dollar sign on one lens and a euro sign on another.

AFP Photo/Pierre-Philippe Marcou

AFP Photo/Pierre-Philippe Marcou

AFP Photo/Pierre-Philippe Marcou

Austerity has hit every Spanish family and caused people who had been core supporters of the public sphere out of the country, says Carlos Delclos, a sociologist at Pompeu Fabra University. 

“Austerity right now is at the level where it’s affecting people’s daily lives. It is affecting whether or not people can get medical attention, whether or not people can advance socially through education and social progress,” Delclos told RT. “What you are seeing is a country where an entire generation is being relegated to a class of emigrants. People who have been investing into public money are now going to move out and generate wealth in other countries. That’s not a project for our country.”

Protestors gather close to Spain's Parliament ahead of a demonstration in Madrid September 25, 2012. (Screenshots from AP video)

But Miguel-anxo Murado, a journalist and writer, told RT that he thought their demands are too vague and that they would not be successful, “it seems that they are back with the same very vague and ambitious platform and in-fact they have been over shadowed by a different constitutional challenge, which is for the independence movement in Catalonia, which is more likely to change the constitution, although in a different way, so I’m afraid they will probably not have a huge success today.”

Spain is in the middle of its second recession in two years, and faces a 25 percent unemployment rate.

Madrid, September 25, 2012. (Screenshots from AP video)

Madrid introduced the controversial austerity measures in a gesture meant to show that it intends to fix its debt and budgetary shortfalls. The European Central Bank granted Spain a 100 billion euro rescue loan for its banks, but the country has not decided whether to seek another bailout.

Europe’s financial leaders are pleading for Spain to reduce volatility in its markets by deciding whether or not to request the second loan.

During a September 15 protest, waves of some 50,000 anti-austerity demonstrators converged in downtown Madrid, blowing whistles and hoisting banners that read, “They are destroying the country, we must stop them.”Representatives from over 230 civic and professional organizations also turned out amid cries of “lies,” and “enough.”

Protestors gather close to Spain's Parliament ahead of a demonstration in Madrid September 25, 2012. (Image from twitter user @sofalizacion)

Madrid, September 25, 2012. (Screenshots from AP video)

People gather at the Plaza Espana square before taking part in a demonstration organized by "indignant" protesters to decry an economic crisis they say has "kidnapped" democracy, on September 25, 2012 in Madrid. (AFP Photo / Dominique Faget)

A man holds a placard reading "Spain on sale" during a demonstration by Spain's "indignant" protesters to decry an economic crisis they say has "kidnapped" democracy, on September 25, 2012 in Madrid. (AFP Photo / Dominique Faget)

Protestors gather close to Spain's Parliament ahead of a demonstration in Madrid September 25, 2012. (Reuters / Andrea Comas)

Abolish the Federal Reserve

End the Fed chant in Nashville, TN

Abolish the Federal Reserve

http://www.fullofliberty.com/2012/09/abolish-federal-reserve.html

This is a special post for any Tennessean that encounters End the Fed protesters and/or receives a End the Fed flier.

Today, September 22nd, freedom lovers are protesting the inflationary and deceptive practices of the Federal Reserve all across America.

Here are some links and videos which will help you understand why it is necessary to audit and abolish the Federal Reserve system:

"The Federal Reserve is a private, unelected group of banks That was created by congress in 1913 and was given the previously congressional responsibility of money creation. Ever since, the dollar has declined in value. The Federal Reserve does this by inflation, or expansion of the money supply. this acts as a hidden tax that requires you to pay more dollars for every product and service to recoup that loss in purchasing power. In addition to this the fed artificially sets interest rates, fund the bailouts, and pick economic winners and losers. They are the biggest root cause to our failing economy."
http://www.endthefed2012.com/why/

  

U.S. Implementation of the Basel Capital Regulatory Framework

U.S. Implementation of the Basel Capital Regulatory Framework, September 20, 2012

More fake gold scandalizes New York dealers

Submitted by cpowell on Sun, 2012-09-23 14:49. Section: Daily Dispatches

Fake Gold Hits NYC

Diamond District Finds 10 Tungsten-Filled Bars

By Michal Gray
New York Post
Sunday, September 23, 2012

http://www.nypost.com/p/news/business/fake_gold_hits_nyc_ECXVP5WQOvYwMVT...

Federal agents are investigating the peddling of bogus gold bars in Midtown.

The Post has learned as many as 10 fake gold bars -- made up mostly of relatively worthless tungsten -- were sold recently to unsuspecting dealers in Manhattan's Midtown Diamond District.

The price of gold has risen more than 600 percent since January 2000, while the S&P 500 index is down 0.6 percent over the same period.

The 10-ounce gold bars are hugely popular with Main Street investors, and it is not known how many of the fake gold bars were sold to dealers -- or if any fake bars were purchased by the public.

One gold dealer discovered that four of the 3-inch-by-1-inch gold bars he bought, worth about $72,000 retail, were counterfeit.

"It has the entire street on edge," said Ibrahim Fadl, 62, who has been the owner of Express Metal Refining, a Midtown gold-refinery business, for the last 11 years. "I and the others on the street work off of trust. Now that trust is strained."

Fadl, a Columbia University graduate with a master's degree in chemical engineering who has more than 40 years in the industry, purchased the four fake bars from a well-known Russian salesman with whom he has done business.

A second 47th Street refiner who wished to remain anonymous said he was burned recently when he bought six gold bars that turned out to be mostly tungsten, with just a gold veneer. He would not comment, though, on who sold him the bogus bars.

Fadl became suspicious when he offered the salesman a deep discount for the investment-grade gold bars and he quickly accepted it, a source tells The Post.

Fadl said he did his due diligence "by X-raying the bars to ascertain the purity of the gold and weighing the bars, and the Swiss markings were perfect."

Tungsten is an industrial metal that weighs nearly the same as gold but costs a little over $1 an ounce. Gold closed Friday at $1,774.80 an ounce.

To quell his suspicion, Fadl then drilled into the bar and discovered the tungsten -- whose silver color is distinctive from gold's bright yellow hue.

Raymond Nassim, CEO of Manfra, Tordell & Brookes, the American arm of the Swiss firm that created the original gold bars -- with their serial number and purity rating stamped clearly into them -- said he reported the situation to the U.S. Secret Service, whose jurisdiction covers the counterfeiting of gold bars.

He said his company "is supporting and cooperating with authorities any way we can."

Nassim thought the culprit must be a professionally trained jeweler to have pulled off the caper.

The forger had to slice the original bar along the side, hollow out the gold and insert the tungsten ingot, and then reseal and polish the bar, Nassim said.

At an industry dinner Thursday night hosted by Comex, the New York-based metals exchange, the room was abuzz with talk about the bogus gold bars, according to Fadl.

Numerous calls to the Secret Service were not returned.

Croatian Government Answers On Facebook What And Whose Kuna Currency Is

Croatian Government Answers On Facebook What And Whose Kuna Currency Is

Tagged in: monetary reform
Posted by: administrator in Society

http://cromalternativemoney.org/index.php/en/media/news/croatian-government-answers-on-facebook-what-and-whose-kuna-currency-is.html

If global population is dying of thirst and hunger not because there is shortage of water and food, but because, even though our planet is being flooded by incredible quantities of freshly printed money there is a lack of that same money that can be used to buy food and water, then it is obvious without any doubt that global population lacks intelligence much more than it lacks money! Just as manipulators rule in newspapers, just as radio is ruled by manipulators, and just as television is ruled by manipulators, so is democracy on Internet and social networks managed from the control room trough logarithms and influencers. There is no third option, if current tragic financial situation across the globe is not a consequence of a fatal economic theory mistake, but is a result of criminal activities, then we are not talking about stealing chocolate in a small local store, but about the worst type of crime – crime against humanity, the one of biblical proportions. In July of this 2012 year, Crom Alternative Association should have participated with its document “Global Monetary Reform and The Transformation of Society” on “First International Social Transformation Conference” in Split (Croatia). Unfortunately, that did not happen due to the sudden change of organizer’s opinion. The reason for such change should not be seek further than the upper link, i.e. in attempt of Croatian Government to dodge facing 28 questions that have been officially addressed to it and that are prying into the root of sacred relationship “law – state – person – monetary system – money”.

International Sustainability Summit has been set for October. Subheading reads “Community Exchange Systems and Alternative Currency Systems for Sustainable Communities”, and it is described as a workshop that will demonstrate systems which include bartering and using alternative exchange systems and community-issued currencies. Furthermore, participation could be useful for local authorities, finance ministers, local and national chambers of commerce and NGOs – as it is stated on European Sustainability Academy (E∑A) web site. E∑A is privately funded Greek business which has been set up by its British founders; E∑A operates as a social enterprise which means that profits from the business are reinvested in the development of sustainability related teaching and research. Lead by Thomas Greco - a world expert in moneyless exchange systems and community development, Matthew Slater - a leading software engineer for community currency, and Professor Jem Bendell - an expert in strategic planning; International Sustainability Summit represents a new step towards the change for sustainable socio-economic reform. However, sustainable transformation of society based on a monetary reform can have many different forms. And here is one example of it: "Economic and Cultural Transition to Sustainability - International Precious Metals Currency". Of course, Crom Alternative Exchange Association supports International Sustainability Summit. Following vital information is delivered to organizers of the upcoming summit:

Croatian Government Answers On Facebook What And Whose Kuna Currency Is

On September 13th 2012, around 5 p.m., Dubravko Krcma Krcmarek: “My friend is completely blocked on Facebook and he has some important questions for the Government, so I post this in his name:

Hello, I, Aljosa Duric, have noticed that in current economic and political crisis Croatian media has started publishing all kinds of laments and sad stories of Croatian citizens from this Government Facebook page, so I would like to address you with my three key questions linked to a document that is available to all Internet users by simply googling "Global Monetary Reform and Transformation of Society".

1) In recent history many products that had been used without concern up to then have suddenly become labeled as "health hazards". So, consumers are now warned that it is deadly to smoke tobacco, but what is the situation with those that are smoking Croatian Kuna? Since in sense of material value (for example bananas, gold, plums, silver, tuna, oil) no law, declaration, regulation, decision or anything of such sort specifies it precisely, it is obvious that 1000 HRK banknote in the moment it is created is worth nothing more than few lipas of ink and paper, let's say 0.30 HRK. It is also quite clear that such banknote, which originally worth only 0.30, obtains its value of 1000 only when it is released in circulation. If a citizen, in his sane mind, is to accept the currency offered to him by the Government, it is clear that the aforementioned currency has to have a value before he accept it. Do you therefore think that we are dealing with the fraud from the highest levels so the police must be urgently called in order to punish those responsible for crimes against humanity or the police must be called because Croatian people are really so desperately stupid that the best solution is to punish with 997.7 kunas all those passers on the street that does not know what seigniorage gain is?

2) Public debt of Croatian citizens has soared to abnormal heights. Could it be that the reason not only for that increase but also for the very existence of such debt is hidden in something else rather than in popular explanations? Since only the owner can lend something to somebody, I am terribly interested to know the following: Is currency kuna issued in circulation bearing an interest or not? If there is interest, then instead of issuing in circulation, we are dealing with lending in circulation, which would mean that Croatian citizens are borrowing their own money from some third party, i.e. that would be completely opposite from beliefs of people in Croatia that they own money bills in their pockets, while in reality they are in debt for those same bills.

3) Do companies break the law by falsifying their financial statements if under liability of balance sheet they put something that costs them nothing? If the answer is affirmative, does it not mean that Croatian Central Bank represents organized crime since its financial balance sheet does not contain meaningless expenses of money production that is in circulation, but its total face value?

Thank you in advance for your responses.