- Game Changer: China Starts Drilling It Own Rig Wells (China Daily)
- Cisco says customers delay tech purchases (FT)
- Greeks May Hold $510 Billion Trump Card in Renegotiation (Bloomberg)
- Liquid heroin addicts heart Chairsatan: Bernanke Gets 75% Approval From Investors in Global Poll (Bloomberg)
- How a Radical Greek Rescue Plan Fell Short (WSJ)
- Spain takes 45% stake in Bankia (FT)
- Facebook admits to mobile weakness (WSJ)
- FDIC Would Seize Parent, Allow Units to Operate While Mess Is Cleaned Up (WSJ) - Good luck
- AT&T Fast Network a Work in Progress in Race With Verizon (BBG)
- Pointed Spat Over World Trade Spire (WSJ)
The phrase “New World Order” is so loaded with explosive assumptions and perceptions that its very usage has become a kind of journalistic landmine. Many analysts (some in the mainstream) have attempted to write about and discuss this very real sociopolitical ideology in a plain and exploratory manner, using a fair hand and supporting data, only to be attacked, ridiculed, or completely ignored before they get a chance to put forward their work. The reason is quite simple; much of the general public has been mentally inoculated against the very whisper of the terminology. That is to say, they have been conditioned to exhibit a negative reaction to such discussion instinctively without even knowing why.... The Liberty Movement has always defined the NWO as a concerted effort by elitist organizations using political manipulation, economic subversion, and even war, to centralize global power into the hands of an unelected and unaccountable governing body. The goal; to one day completely dismantle individual, state, and national sovereignty. However, what I and many others hold as fact on the New World Order is not enough. We must examine the original source and how we came to our mutual conclusions.
- Only the cattle cars are missing: Greece opens detention camp for immigrants as election looms (Reuters)
- China really wants that Iran oil - China mulls guarantees for ships carrying Iran oil (Reuters)
- U.S. eyes testy China talks, Chen backer expects Chinese decision (Reuters, FT)
- Possible arsenic poisoning probed in death of coroner's official (LA Times)
- Europe’s Anti-Austerity Calls Mount as Elections Near (Bloomberg)
- Law firm Dewey dumps executive; talks with rival end (Reuters)
- Greek bank appeals for fresh equity (FT)
- Banks seek to put pressure on small rivals (FT)
- Obama falls short of meteoric expectations abroad (Reuters)
9 Torture Myths DeBUNKED
China is preparing to avoid U.S. sanctions on Iran by paying for oil with gold. Not only that but, as Forbes contributor Gordon Change also mentions, China has already been bartering with Iran to get a hold of petroleum using among other goods, Chinese washing machines, refrigerators, toys, clothes, cosmetics, and toiletries. The barter trade works, but Iran needs cash too - hence Gold. Thus, the leadership in America in its infinite stupidity has actually accelerated the demise of the U.S. dollar as the world’s reserve currency. In a similar move on a more micro level, the government of Spain in a similar desperation has banned the use of cash transactions above 2,500 euros. How do you think citizens are going to respond to this? People are already in the streets. Everything is going to go black market and to a barter system. It will happen country by country as governments get increasingly desperate and the authoritarian clamp down continues. It will happen on an increasing level until all of these house of cards bureaucratic states fail and something new is reborn - just as we noted in a small town in Greece recently.
Flashback from 1975: “The NSA's Capability ... Could Enable It To Impose Total Tyranny, And There Would Be No Way To Fight BackSubmitted by George Washington on 04/22/2012 13:09 -0400
Senator Frank Church's Prophetic Warning in 1975
The WTO recently announced it expects global trade to fall again from 5% to only 3.7% growth - significantly lower than the 20-year average growth rate of 5.4%. But ThomsonReuters notes this week that their additional comment that 'severed downside risks' could put a further dent in growth rates could well have foundation in some very real data. Traffic through the Suez Canal - a key cargo transport route - has nosedived in recent weeks and months and is currently only just above the flat-line. While not a perfect indicator, given that 8% of world trade travel this route and the rising tensions occurring geographically, nevertheless the trends in global GDP growth and trade volumes have mirrored one another very closely and this downturn suggests considerably more contraction in global growth than even the most pessimistic of sell-side research shops believes is possible.
Nothing dramatic here, but the Chairman of the fermentation committee just has that unique flair in explaining things so simply, even an economics Ph.D., a caveman, or the other kind of 'Chairman', would understand...
All you need to read and some more.
Yesterday, Ben Bernanke dedicated his entire first propaganda lecture to college student to the bashing of the gold standard. Of course, he has his prerogatives: he has to validate a crumbling monetary system and the legitimacy of the Fed, first to schoolchildrden and then to soon to be college grads encumbered in massive amounts of non-dischargeable student loans. While it is decidedly arguable that the gold standard may or may not have led to the first Great Depression, there is no debate at all that it was sheer modern monetary insanity and bubble blowing (by the very same professor!) that brought us to the verge of collapse in the Second Great Depression in 2008, which had nothing to do with the gold standard. And as usual there is always an other side to the story. Presenting that here today, is Antal Fekete with "The Gold Problem Revisited."
Canada's natural resources minister told delegates at the International Energy Forum in Kuwait that his country was on the cusp of becoming an "energy superpower." Canada ranks No. 6 in terms of global oil production, but much of its crude exists in the form of oil sands. European leaders are considering a measure that would classify oil sands as an environmental issue, prompting Canada to threaten to take the issue to the World Trade Organization. With the U.S. political system in a deadlock over Canadian crude, the Ottawa government is now working to convince the international community that the global market is in jeopardy if polices "discriminate against oil sands."
George Orwell was right. He was just 30 years early.
In its April cover story, Wired has an exclusive report on the NSA's Utah Data Center, which is a must read for anyone who believes any privacy is still a possibility in the United States: "A project of immense secrecy, it is the final piece in a complex puzzle assembled over the past decade. Its purpose: to intercept, decipher, analyze, and store vast swaths of the world’s communications as they zap down from satellites and zip through the underground and undersea cables of international, foreign, and domestic networks.... Flowing through its servers and routers and stored in near-bottomless databases will be all forms of communication, including the complete contents of private emails, cell phone calls, and Google searches, as well as all sorts of personal data trails—parking receipts, travel itineraries, bookstore purchases, and other digital “pocket litter.”... The heavily fortified $2 billion center should be up and running in September 2013." In other words, in just over 1 year, virtually anything one communicates through any traceable medium, or any record of one's existence in the electronic medium, which these days is everything, will unofficially be property of the US government to deal with as it sees fit... As former NSA operative William Binney who was a senior NSA crypto-mathematician, and is the basis for the Wired article (which we guess makes him merely the latest whistleblower to step up: is America suddenly experiencing an ethical revulsion?), and quit his job only after he realized that the NSA is now openly trampling the constitution, says as he holds his thumb and forefinger close together. "We are, like, that far from a turnkey totalitarian state."
Last month, the world's biggest hedge fund, Bridgewater, issued a fascinating analysis of deleveraging case studies through the history of the world, grouped by final outcome (good, bad and ugly). As Dalio's analysts note: "the differences between deleveragings depend on the amounts and paces of 1) debt reduction, 2) austerity, 3) transferring wealth from the haves to the have-nots, and 4) debt monetization. Each one of these four paths reduces debt/income ratios, but they have different effects on inflation and growth. Debt reduction (i.e., defaults and restructurings) and austerity are both deflationary and depressing while debt monetization is inflationary and stimulative. Ugly deleveragings get these out of balance while beautiful ones properly balance them. In other words, the key is in getting the mix right." Of these the most interesting one always has been that of the Weimar republic, as it certainly got the mix wrong.
- Tainted Libor Guessing Games Face Replacement by Real Trades (Bloomberg) - so circular, self-reported data is "tainted" - but consumer confidence is great for pumping a stock market?
- Japan Sets up $12 Billion Program for Dollar Loans, Increases Growth Fund (Bloomberg)
- China Hints at Halt to Renminbi Rise (FT)
- Spain Pressed to Cut More From Its Budget (FT)
- Bailout can make Greek debt sustainable, but risks remain: EU/IMF (Reuters)
- Banks to Face Tough Reviews, Details of Mortgage Deal Show (NYT)
- U.S. and Europe Move on China Minerals (WSJ)
- Use of Homeless as Internet Hot Spots Backfires on Marketer (NYT)
- Obama administration seeks to pressure China on exports with new trade case (AP)