venerdì 3 agosto 2012

Alice in Euroland


Alice in Euroland

in: 
One of my favourite books is Alice’s Adventures in Wonderland. I don’t really remember when I first read it, but I must have been around seven years old. Since then, apart from having read it to my own children perhaps thirty years ago, I have frequently returned to it as a source of joy and inspiration, and look forward to my granddaughter, now three, reaching an age where she can appreciate it.

Another of my favourites is The Communist Manifesto.  I do remember when I first read this. I was 18 when a college friend asked me if I’d read it, and I thought he was referring to an election manifesto put out by the CP. He was quite kind about this, but I was so embarrassed that I went straight out and bought a copy for 10p. I’ve never looked back!

Now, what could these two books possibly have in common? After all, one is a perfect description of contemporary political and economic realities. And the other is the founding text of the global movement for revolutionary social and economic change….

If you don’t think Lewis Carroll is a fine guide to the modern world then consider these facts:

In June, the European Parliament voted by a fairly convincing majority to give its support to the new system of European Economic Governance, the main aim of which is to impose austerity policies on any member state found not to be pursuing the destruction of the welfare state, or cutting wages, with sufficient enthusiasm.

In July the same body approved by a large majority the mandate for the negotiations between the member states and the European Commission on the 2013 EU budget.  While, following the diktat from Brussels, almost all member states have adopted draconian austerity policies, the European Parliament wants to see the EU’s own budget increased by 6.8%.

This is almost 7 cents to the euro or dollar, 7p in every pound, and far in excess of inflation.

Moreover, there is in reality huge scope for reducing the EU budget, and not by means of anything resembling ‘austerity’.  Left Euro-MP Dennis de Jong, from the Netherlands, has made a study of how such economies might be achieved and suggests, firstly, that the number of EU agencies be cut. These are bodies, scattered throughout the member states, which advise the EU authorities on the basis of research which they conduct.  Occasionally they do some useful work, but they also waste huge sums of money, which isn’t surprising when you know how poorly monitored their spending is.
Moreover, the number of these agencies has grown out of all proportion to any usefulness they may have, from seventeen in 2000 to forty two just twelve years later.  More money could be saved by holding all EP meetings in Brussels, instead of moving the whole institution, lock, stock, members and staff, down to Strasbourg once a month.

The European Parliament’s belief that everyone apart from itself should cut spending, a belief shared by all EU institutions, reflects a culture in which officials can work assiduously to force member states to erode their citizens’ pensions while zealously guarding their own ludicrously generous scheme.  The cheapest meals, coffee and beer in Brussels are to be had in the EP’s various bars and restaurants, while outside in Leopold Park homeless people shelter under home-made tents and beg from passers-by.  In a broader context, it reflects the absence of any mechanism via which the population of the twenty-seven member states can exert democratic pressure on the EU.

On a still broader level, it provides examples of the way in which political leaders have gone beyond routinely lying to enter a Wonderland where words no longer have any meaning; or in which they appear to believe, as Humpty-Dumpty says in Carroll’s other great work, Through the Looking Glass, that ‘When I use a word, it means just what I choose it to mean, neither more nor less’.

Take the question of fiscal responsibility. Probably if you have better things to do than follow these things in detail, you will be under the impression that Spain, which has come under the combined cosh of the European Central Bank, the European Commission and Chancellor Merkel, is a byword for heedless extravagance. In fact it had a much better record of managing its debt than did Germany, until its economy was derailed by the combination of a housing bubble and an inability – due to the Mad Hatter’s currency, the euro – to devalue to compensate. It was then forced by EU diktat to bail out its privately-owned financial institutions, thus making a mountain of private debt into an Alpine range of sovereign debt. The EU then forced Spain to cut public spending in an attempt to reduce this debt.

This might be compared to paying off your personal debts by selling your car. Could be a good idea, certainly, but not if you have no other way of getting to work. The result is record high unemployment and a level of youth unemployment which means, in practice, that almost no-one under 25 has a job. This, in turn, affects government revenue and despite savage cuts in benefits, expenditure.

Of course, the resemblance of the EU to Lewis Carroll’s Wonderland is superficial. The strange country in which little Alice found herself was riddled with absurdities all the way through, whereas the European Union only seems that way. In reality it is a brilliantly designed weapon of class warfare.

As such, it is best described not by Lewis Carroll but by the other writers whose work I cited at the beginning of this article as a favourite.

As Marx and Engels wrote over a century and a half ago, ‘…how does the bourgeoisie get over these crises? On the one hand by enforced destruction of a mass of productive forces; on the other, by the conquest of new markets, and by the more thorough exploitation of the old ones. That is to say, by paving the way for more extensive and more destructive crises, and by diminishing the means whereby crises are prevented.’

Steve McGiffen is Spectre’s editor and has been a Marxist since 1973 and a fan of Lewis Carroll for as long as he can remember.

The Battlegroups of the European Empire


The Battlegroups of the European Empire

in: 


This exposé of the reality behind the sham of the ‘peace-loving’ European Union will be reviewed on Spectrezine in the near future. You don’t have to wait for that, however, as the pamphlet can be downloaded for free from the website of Ireland’s Peace and Neutrality Alliance, or contact PANA to see how you can get a paper copy for €3 plus postage.
 

A Request from the American Monetary Institute

Dear Friends of the American Monetary Institute,

Thank you for your interest and continued support of The American
Monetary Institute and monetary reform. Progress is being made 
by virtue of Congressman Dennis Kucinich's NEED Act, HR 2990, and
we ask for your help now to bring attention to it.

Please see our site http://www.monetary.org/wp-content/uploads/2012/08/HR-2990_KucinichVideos.pdf
It has been there for 1 1/2 months and has just been updated.
In addition a short summary has been added to help communicate the essence of the bill.
There is also a complete text of HR 2990,
and you'll find two outstanding videos by Congressman Kucinich in which he outlines
the highly positive effects of HR 2990 on our economy.

We ask that you view both of these short (~3 min)
videos, and for you to please forward this link to your entire email list!
With your assistance and a bit of work, these videos can help build the
attention this bill deserves.

Remember folks, while some places are planning to borrow money to fix
infrastructure (Rahm Emmaneul is proposing $7 billion in Chicago), building and
repairing infrastructure with borrowed money, increases the cost of infrastructure by
between double and triple because of the interest costs on the bonds!
But interest expenses are not necessary under HR 2990, since the
nation can create its own money, instead of borrowing it and paying interest on it
to the banks.

That means under HR 2990, double to triple the amount of infrastructure
can be built and repaired. That will mean double to triple the employment, and much
less for the bankers to grab, one way or another. They always seem to find a way! No more!
It is past time to end their farce of having the nation use banker debt, instead of government money!
Please follow through!
Warm regards to all,
Stephen Zarlenga and Patrick Notaro
AMI
P.S. Remember there is still a $50 discount on our 8th Annual AMI Monetary Reform Conference, in Chicago, September 20-23. See http://www.monetary.org/2012schedule.html for topics and photos
of speakers!
-- 
"Over time, whoever controls the money system
controls the nation."
Stephen Zarlenga
Director
American Monetary Institute
To receive notices for free AMI materials,
sign up for our email list at www.monetary.org
(224) 805-2200

Eurozone unemployment at record high

Eurozone unemployment at record high

Printer-friendly version
Send by email
EurActiv, Published 01 August 2012

Figures released by Eurostat yesterday (31 July) showed that unemployment in the euro area increased to 11.2% in June, up from 11.1% in May—roughly 17.8 million people were without jobs in June, up by 123,000 from May.
T
The number of jobless in the 17 eurozone countries has hit a new record in June, increasing pressure on the European Central Bank to find ways to help indebted states and spur growth, when it meets tomorrow (2 August).
Spain, which is at the forefront of Europe's debt crisis concerns, had the highest unemployment rate at 24.8%. Greece's rate was not far behind at 22.5%, though the latest figures available are for April. Many other eurozone countries, including France and Italy, also have double-digit unemployment rates.
Unemployment in Italy rose in June to its highest level in nearly 13 years to a seasonally-adjusted 10.8%, according to the Rome-based national statistics office, Istat.
Young people are in dire straits, with those aged 15 to 24 unemployed at a rate of 34.3% in June. In addition, the economy shrank for a third straight quarter. Italy is now in its fourth recession since 2001.
Germany, Europe's biggest economy, continues to fare far better, and its unemployment rate, according to Eurostat, dropped to 5.4% in June from the previous month's 5.5%. However, recent figures released by Germany's Federal Labor Agency showed that Germany’s economy might also be hit as the unadjusted rate climbed from 6.6% in June to 6.8% in July.
Portugal’s unemployment rate was 15.4%, Ireland’s was 14.8%, and France’s was somewhat better at 10.1%.
The gloomy unemployment outlook has put further pressure on the European Central Bank to act and contain the sovereign debt crisis, when it meets tomorrow (2 August).
Last week, ECB president Mario Draghi said the bank would do ‘whatever it takes’to safeguard the euro, fuelling investors’ hopes that the central bank would buy Spanish and Italian bonds in an effort to bring borrowing costs under control.
But several other pieces have to fall into place before the ECB will act decisively, insiders say. These include a request for assistance from Spain, which Madrid is still resisting, a decision by euro zone leaders to let their bailout fund buy bonds at auction, and a German court ruling on the legality of the euro zone's permanent rescue fund, due on September 12.
Above all, ECB President Mario Draghi must overcome the resistance of Germany's powerful central bank.
The Bundesbank declared its opposition to reviving the dormant bond-buying program, arguing that it would remove market pressure on heavily indebted governments to pursue austere budget policies and economic reforms.
"The mechanism of bond purchases is problematic because it sets the wrong incentives," a spokesman for Bundesbank President Jens Weidmann told Reuters.
The Bundesbank has also consistently opposed other ideas - such as giving the euro zone's rescue fund a banking license and letting it borrow from the central bank to fight fire in the bond markets - on the grounds that they breach a European Union treaty prohibiting monetary financing of governments.
Draghi and Weidmann will have a chance to thrash out their differences when they meet before Thursday's monthly meeting of the Governing Council. The outcome of this struggle between the ECB and the German parent on which it was modeled may determine whether the euro survives
NEXT STEPS: 
  • 2 August: ECB meeting
  • 12 Sept.: German court ruling on the legality of the euro zone's permanent rescue fund
EurActiv.com with Reuters

giovedì 2 agosto 2012

Iran sentences 4 to death in $2.6B fraud case


Iran sentences 4 to death in $2.6B fraud case

The trial, which began in February, involved some of the country's largest financial institutions and raised uncomfortable questions about corruption at senior levels in Iran's tightly controlled economy.
But few specific details have been released, possibly to avoid exposing too much internal scandal while Iran's leaders seek to assure the country it can ride out tightening sanctions over Tehran's nuclear program.
Prosecutors have only referred to the linchpin defendant by a nickname and have provided just general information about his purported business empire. The main charges included using forged documents to get credit at one of Iran's top bank to purchase assets, including major state-owned companies.
The official IRNA news agency gave no names at all for most of the other defendants in the Revolutionary Court, which deals with cases involving security and organized crime. The report did not say when the verdicts were issued.
The report quoted state prosecutor Gholam Hossein Mohseni Ejehei as saying a total of 39 defendants received sentences, including four death sentences, two life terms and the rest of up to 25 years in prison. He said officials including deputy ministers in the government were among those sentenced, but did not identify any of them.
The main defendant, referred to by a nickname "Amir Mansour Aria," was among those charged with a potential capital offense. In February, state TV said he was accused of being "corrupt on earth," an Iranian legal term that means that the defendant is an enemy of God, and which in practice is a catch-all term for a variety of offenses. The charge carries the death penalty.
Aria pleaded not guilty, but acknowledged that he has violated some laws, the Iranian media said.
The indictment described Aria as head of the Aria Investment Development Co. It said the owners used "incorrect connections with executive and political elements" to accrue wealth.
"Dozens of instances of bribe payments to staff and managers of banks have taken place under various titles," it said.
Ejehei said the sentences are appealable. By law the convicted have 20 days to appeal.
Meanwhile, President Mahmoud Ahmadinejad and his hardline rivals traded blows in their political power struggle. A court stripped one presidential ally of his job while officials in Ahmadinejad's government brought charges against the brother of one of his prominent critics, the speaker of parliament.
Ahmadinejad has faced more than a year of withering political attacks after challenging Supreme Leader Ayatollah Ali Khamenei over the selection of the intelligence minister. Dozens of Ahmadinejad's allies have been arrested or driven from power by backers of Khamenei, and Ahmadinejad has been left severely weakened with less than a year left in his second and final term.
Ahmadinejad was once the favored son of Iran's theocracy, but his defiance of Khamenei was considered to be a rebellion against the supremacy of the clergy and the president's conservative allies turned on him. He still retains a following among Iran's working classes and rural poor who see the ruling clerics as aloof and out of touch.
In the latest twist, a court stripped one of Ahmadinejad's top appointees of his job after claims he was linked to the deaths of anti-government protesters, the IRNA news agency said.
The ruling against Saeed Mortazavi, head of Iran's social security organization, followed a suit filed by a group of anti-Ahmadinejad lawmakers.
In 2010, a parliamentary probe found Mortazavi — then chief Tehran prosecutor — responsible for the deaths by torture of at least three anti-government protesters who were in custody. Angry lawmakers in April threatened to impeach the country's labor minister, who appointed Mortazavi, over the case.
In a separate report, IRNA said Javad Larijani — the brother of both the country's parliament speaker and its powerful judiciary chief — came under investigation over allegations he illegally took control of protected land.
Tehran's chief prosecutor Alireza Avaei was quoted as saying that a court is studying the allegations. The claims were filed by the government agency in charge of natural resources.
The Larijani family are prominent critics of Ahmadinejad.
Larijani's brother Sadegh heads the judiciary and another brother, Ali, is parliament speaker. Javad leads the judiciary's human rights council. No date has been set for a hearing.

mercoledì 1 agosto 2012

Swiss National Bank in desperate campaign to devalue


Swiss National Bank overwhelmed in desperate campaign to devalue franc

 Section: 
Switzerland Is 'New China' in Currencies
By Alice Ross
Financial Times, London
Tuesday, July 31, 2012
There is a "new China" active in the currency markets, according to analysts, as Switzerland's battle to weaken the franc inflates its stockpile of foreign currency reserves.
The Swiss National Bank was forced to buy tens of billions of euros in May and June after the eurozone crisis worsened, creating strong haven demand for the franc and threatening the ceiling the central bank set for its currency last September. The SNB is prepared to buy as many euros as it takes to hold the franc at SFr1.20 against the euro to protect the country's exporters.
As a result, Switzerland's foreign currency reserves have leapt more than 40 per cent this year to SFr365 billion ($375 billion), propelling it to the sixth largest holder of foreign exchange in the world from ninth last year, behind China, Japan, Saudi Arabia, Russia, and Taiwan.
The proportion of euros held by the SNB also ballooned in the second quarter of the year, rising from 51 per cent to 60 per cent. Foreign currency analysts said the bank was buying SFr3 billion worth of euros a day to defend the Swiss franc, with serious knock-on effects for the global forex market.
"Switzerland is the new incipient China," said Steven Englander, Citigroup's head of foreign exchange strategy.
The SNB is believed to be partly responsible for recent moves in major currencies including the Australian dollar and the Swedish krona as it seeks to offload some of its euros.
But that has consequences for other central banks, whose own currencies are rising in value as Switzerland sells its euros back to the market. The Swedish krona has hit a 12-year high against the euro in recent days, while the Australian dollar is at record highs against the single currency.
"Sweden will need to set monetary policy now with the SNB in mind," said Geoffrey Yu, foreign currency analyst at UBS.
Analysts also warned that SNB's half-year results, released on Tuesday, indicated that the central bank was struggling to rebalance its holdings as it appeared to be buying euros more quickly than it could exchange them for other currencies.
Figures showed a drop in the maturity of the SNB's bond holdings from four years to 2.8 years, which analysts said indicated that the bank was taking shorter-term positions because it did not know how long it would carry on accumulating euros at the current rate.
"The picture is one of a central bank that's not coping with how much money is coming in," said Kit Juckes, foreign currency analyst at Societe Generale.
The SNB declined to comment on its foreign exchange management strategy.

Dream Change From Ecuador

From Ecuador: Energizing a New Dream            
by John Perkins


I am in Cuenca Ecuador. Ancient bastion of the Incan Empire. Colonial jewel of Spanish America. Here in the High Andes and in the Amazon rain forests that lie at their feet is where this journey of life really took off for me, a young Peace Corps volunteer, in the late 1960s.

During this week, I've talked with many different people here: an Ecuadorian MD and his three adult children – two of them MDs – two women from the U.S. who moved here to find "a more balanced place to live," local waiters, taxi drivers, people on the street. . . this country reinvigorates me today, just as it did all those years ago.

When I came to Ecuador in 1968 I was angry about the Vietnam War and the police brutality in the U.S. and deeply saddened by the assassinations of John and Robert Kennedy and Martin Luther King, Jr.

Living among the Quechua of the Andes and Shuar of the Amazon, I learned that "the world is as you dream it." They said that the war, assassinations, and the brutality were the results of our greedy, materialistic, and exploitative dreams. We had given energy to a world-view that was threatening to destroy us. But, they continued, we could solve our problems. All we had to do was envision and energize a new dream.

Now, standing in Cuenca's main plaza, looking at the cathedral, as I did so many times back then, I know that our crises are greater today than ever before. Global climate change, declining resources, species extinctions, economic and political collapse, violence --- the list of negatives is almost endless. Yet, I also feel a greater sense of hope.

For the first time in history we are communicating with each other around the planet, instantaneously. People are waking up. In Europe, Latin America, the Middle East, Africa, Asia, and the U.S. we speak out and demonstrate – not just against a war or racial inequality but against the corrupt system that fostered them which in recent years has catapulted exploitation to new levels. We are forging a new dream and we are taking action to energize it.

In a few days I retrace the steps I took nearly five decades ago and journey deep into the Amazon. With one huge difference. I will not be a lonely Peace Corps volunteer. Instead, I will be joined by 30 people who are dedicated to creating a new dream – on one of the many trips of The Pachamama Alliance. TPA's Awakening the Dreamer program now has more than 6,000 facilitators in 70 countries.

People around the globe are determined to take back the reins. We the People are on the march. We will not be stopped.

Back in the U.S. in a couple of weeks, I'll facilitate two workshops at the Omega Institute in upstate N.Y. that were seeded back in those Peace Corps days– the weekend Shapeshifting Leadership (Aug 24-26) and 5-day Advanced Shapeshifting (Aug 26-31). They are indicative of the steps that so many of us are taking to create a sustainable, just, peaceful, and thriving world.

In these dark times of crises, there are many rays of hope. When we give energy to hope we offer ourselves and future generations the greatest gift possible. I'm looking forward to seeing many of you at Omega. Together we will shapeshift thee dream and create a better world!



NOTE: Omega offers a 25% discount to anyone committed to shapeshifting leadership!

Discount code: LEADERSHIP

Click HERE to for workshop details: http://www.eomega.org/workshops/teachers/john-perkins

Post in evidenza

The Great Taking - The Movie

David Webb exposes the system Central Bankers have in place to take everything from everyone Webb takes us on a 50-year journey of how the C...