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The new normal

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Published on People’s, by Sam Webb, Oct. 21, 2009.

Goldman Sachs and J.P. Morgan Chase are back to the “old normal.” Profits are soaring – $3.2 billion and $3.6 billion respectively in the third quarter. Bonuses of $23 billion (yes, I got it right – 23,000,000,000 bucks) are in the pipeline for their managers and traders.  Their field of competitors has thinned. And these leeches have morphed from “too big to fail” to “much too big” to fail. In the meantime, the rest of us are fast-forwarding to the “new normal.” Let me explain …

… An obvious objection that will arise among friends, as well as foes, is that the federal deficit is out of control now and a project of this size goes way beyond the scope of government and would represent a massive intrusion into people’s lives. Continue Reading…

Trained in India, to fight in Iraq

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US Troops From War Zone in Heartland Drill

Published on Global, by Sujan Dutta, October 30, 2009.

New Delhi: An Indo-US wargame that ended today in Uttar Pradesh helped retrain part of an American contingent that went into action in Iraq and will be redeployed in the war-ravaged country, scaling up the bilateral exercise that was originally projected as a peace-keeping drill …

… In Bombay, the Strykers, each weighing about 19 tonnes, were transported in sixteen-wheeler trucks to armoured corps base in Babina (that was started by the British with the acronym that stands for British Army Base in North India).  Continue Reading…

Time for a novice

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How the country is secretly run by the young

Published on The Economist, Oct. 22, 2009.

… For Bagehot, perhaps the most intriguing overall lesson of the party-conference season was the extreme youth of many of those in important positions in the party hierarchies, making policy and conducting high-level negotiations. This is one of the hidden features of the political machine: the callow age of many of its cogs, including some big ones.

The office of George Osborne, the shadow chancellor, generates many of the Tories’ best ideas, and some less good ones. Mr Osborne himself is 38, stunningly young for a would-be chancellor. But he seems venerable beside his advisers. His fecund brains trust comprises Rohan Silva (28) and Rupert Harrison (30). Matthew Hancock, his chief of staff, has just turned 31.   Continue Reading…

NATO vs CSTO: The Fogh of war

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CSTO Collective Security Treaty Organisation

Linked with Eric Walberg – Canada. – Published on Dissident Voice, by Eric Walberg, October 28, 2009.

NATO’s reputation as the guardian of peace on Earth is in tatters these days. Once avowedly an alliance of North America and Western Europe to fight the communist hordes of Eurasia, it morphed into something quite difference with the collapse of the socialist bloc two decades ago. It now pretends to unite all of Europe to fight the Muslim hordes wherever they be found and, of course the Russians, just for good measure …

… The EU took the credit for bringing the two sides together and US Secretary of State Hillary Clinton came to the signing ceremony, but it is far from clear which “side” will benefit most. Will NATO-member Turkey help usher CSTO-member Armenia into the Western fold? Or will Russia-friendly Armenia draw Turkey the other way? Will the EU’s spurning of Muslim Turkey and its desire to snag tiny Christian Armenia widen the growing rift between an increasingly independent and pro-Muslim Turkey and the West? Will Azerbaijan join NATO in a huff? Will Turkey dust off its Ottoman past and reinvent itself as a major regional power? The situation is far too complex to make any firm predictions.  Continue Reading…

Devastating “Free Market” Reforms Imposed on Serbia

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Published on Global, by Gregory Elich, Oct. 28, 2009.

… The Foreign Investors Council (FIC) represents the interests of Western corporations in Serbia. Its purpose “is to assist Serbia in fully accepting and nurturing market economy and introducing a system of European values and standards.” In order to “improve the investment and business development climate in Serbia,” the Foreign Investors Council makes “concrete reform proposals.” (29) In other words, it meddles in the Serbian regulatory and legislative process just as the American Chamber of Commerce does.

Each year the Foreign Investors Council produces a White Book, which includes “proposals for improvement of the business environment in Serbia.” The aim of the White Book is to “point out the desired changes so as to improve conditions for doing business, and to provide concrete suggestions [to the Serbian government] on how to improve them.” As the FIC notes, the organization “has always worked in close partnership with the relevant government authorities.”   Continue Reading…

Asian Development Bank ADB reviews Pacific economies

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Published on Radio Australia, Oct. 27, 2009.
(Presenter: Sean Dorney, Australia Network’s Pacific Correspondent – Speaker: Lawrence Greenwood, Vice President of the Asian Development Bank ADB)

The Vice President of the Asian Development Bank, Lawrence Greenwood, says Fiji is the economy in the Pacific the ADB spends most time worrying about. Mr Greenwood has been visiting Australia, and he was in Brisbane during the Pacific Islands Forum Trade Ministers Meeting …

… GREENWOOD: Yeah, the major hit has been, though, in terms of the current impact this really has more to do with the loss of revenues from remittances and tourism and also for some countries like Papua New Guinea, commodities. For most of them it’s those two – remittances and tourism – that have been hit the hardest because that affects their budgets today. The trust funds is more of a medium term issue. Their value has gone down but most of these countries have limits on what they can draw from the Trust Funds in any case and so they’re continuing to draw that. There’s enough liquidity.   Continue Reading…

Financial Crisis Hidden History, The Warning Frontline Video

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Published on The Market Oracle,  Oct 25, 2009. – (See also Brooksley Born on wikipedia).

In The Warning, veteran FRONTLINE producer Michael Kirk unearths the hidden history of the nation’s worst financial crisis since the Great Depression. At the center of it all he finds Brooksley Born, who speaks for the first time on television about her failed campaign to regulate the secretive, multitrillion-dollar derivatives market whose crash helped trigger the financial collapse in the fall of 2008.

“I didn’t know Brooksley Born,” says former SEC Chairman Arthur Levitt, a member of President Clinton’s powerful Working Group on Financial Markets. “I was told that she was irascible, difficult, stubborn, unreasonable.” Levitt explains how the other principals of the Working Group – former Fed Chairman Alan Greenspan and former Treasury Secretary Robert Rubin – convinced him that Born’s attempt to regulate the risky derivatives market could lead to financial turmoil, a conclusion he now believes was “clearly a mistake.”

… click online on the link for Frontline’s video … or directly on The Warning: The Go-Go ’90s, Oct. 20, 2009, 55.21 min.  Continue Reading…

Irate Mom, Line One; Parents Talk Back to Pharma

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Linked with Rima E. Laibow, M.D. – USA. – Published on, by Martha Rosenberg, October 26, 2009.

Adelphi, MD – The most dramatic moment for the 70 doctors and 200 spectators attending June FDA hearings about approving new psychiatric drugs for children came when two bereaved mothers approached the open mike. Liza Ortiz of Austin, Texas, told the advisory panel her 13-year-old son died of Seroquel toxicity in an ICU days after being put on the antipsychotic. “His hands twisted in ways I never thought possible,” she said.

Next was Mary Kitchens of Bandera, Texas, who described Seroquel’s lasting effects on her 13-year-old son Evan after being given the antipsychotic without her knowledge or permission by a residential treatment center. But for Kitchens the most dramatic moment came after the hearings when she approached Dr. Robert Temple, the FDA’s director of the Office of Drug Evaluation, who had officiated on the panel. “Can I show you the stamp on these Seroquel samples that proves my son was given an unapproved drug in 2003?” she asked him, displaying the original drug packaging, which she also showed at open mike. “The panel is considering whether these drugs should be approved for children – and I can show you they’ve been marketed to kids for years!”

“I’m sorry, ma’am – I can’t talk to you,” replied Temple, making a quick getaway. If 44-year-old Kitchens seems angry, she is … Continue Reading…

Nurses got sick from the swine flu vaccine in Sweden, UPDATE: 1 suspected death

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Linked with Swine flu vaccine – a plot to cull overpopulation (?), with Lutte contre la vaccination de la grippe porcine, with Von der Grippe zum Gerippe, and with Jim Turner Files Lawsuit Against FDA To Stop Swine Flu Vaccine … and all their links.

Published on The Flu Case, by Johan Niklasson, 21 October 2009.

Yesterday (Oct. 20, 2009) 30 people had been reporting to the authorities in Sweden that they experienced such severe side effects that they felt the need to contact a hospital. Today the number is 140. The swedish newspaper Expressen is the only one in Sweden reporting on these cases and as usual this is most likely only the tip of a rather large iceberg.  UPDATE: According to Dagens Nyheter, the number of reported side effects are now a few hours later 190. 1 person dies after the injection but “no direct relation with the injection has been established”. The biggest medical scandal in the history of Sweden has just started. Continue Reading…

Dollar Collapse Update: Obama Demands Pay in Euros

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Linked with Mike Whitney – USA (the American writer). – Published on Global, by Mike Whitney, Oct. 25, 2009.

The “dollar debate” on the Internet has been ferocious and emotionally-charged, but sadly lacking in logic. To oppose the “dollar will crash” theorists is like arguing a woman’s right to choose with the fist-waving throng assembled outside an abortion clinic. The results are equally disappointing. To say that “minds are already made up and the issue is settled”, is an understatement. For many, the dollar’s transition from the world’s reserve currency to a Wiemar era Deutschemark is not a question “if” but only of “when”. One reader summed up the distrust that’s felt for anyone who dares to challenge the prevailing dogma like this:

“Mike…..Your article on October 19th 2009 titled “The Dollar will NOT crash,” made all of us in this part of the world who respected your views and opinions feel disturbed and appalled….Then my friend explicated and reminded me, “From the time of Chaim Weizmann’s solicitous and guile behavior towards the politicians, the media and the newspersons, the powerful Zionists lobby had perfected the art of falsity and misrepresentation.”
Uh, okay. So, now opposing the dominant theory not only proves that one is a fool, but also a tool of the “Zionist lobby”?  Continue Reading…

Wires crossed

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Published on DNA Daily News & Analysis, as Editorial, October 26, 2009.

There was always a whiff of corruption in the allotment of wireless 2G spectrum to telecom companies. When the allotments took place last year, there were allegations that the entire process was skewed and had allowed many companies to make huge instant profits while at the same timecosting the government thousands of crores in lost licence fees. At that time too, the telecom minister A Raja was at the centre of the storm but the political compulsions of the UPA government ensured that there was no investigation.

A year later, the picture is different. The UPA coalition, specifically the Congress, looks more secure and thus more willing to take on a minister from the DMK. That may have emboldened the CBI to conduct raids against the department of telecom. Though that is a political spin on the issue, the loud protests by the DMK chief M Karunanidhi bear this out. After all it is not often that the premier investigating agency raids a government ministry to look for evidence of corruption.  Continue Reading…

US Joins Ranks Of Failed States

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Linked with Paul Craig Roberts – USA. – Published on, by Paul Craig Roberts, 21 October, 2009.

The US has every characteristic of a failed state. The US government’s current operating budget is dependent on foreign financing and money creation. Too politically weak to be able to advance its interests through diplomacy, the US relies on terrorism and military aggression.

Costs are out of control, and priorities are skewed in the interest of rich organized interest groups at the expense of the vast majority of citizens. For example, war at all cost, which enriches the armaments industry, the officer corps and the financial firms that handle the war’s financing, takes precedence over the needs of American citizens. There is no money to provide the uninsured with health care, but Pentagon officials have told the Defense Appropriations Subcommittee in the House that every gallon of gasoline delivered to US troops in Afghanistan costs American taxpayers $400 … Continue Reading…

ALBA: a Relevant Model

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Published on political affairs pa, by Noel Manzanares Blanco, Oct. 22, 2009.

The results of the recently concluded 7th Summit of the Bolivarian Alliance for the Peoples of Our America-Peoples’ Trade Agreement (ALBA-TCP) held in Cochabamba, Bolivia, show that it’s possible to work for a new world economic order.

At a time when the international financial schemes have shown their unfeasibility, the agreement reached at the Alliance with regard to the Unitary System (instead of single-monetary system) for Regional Compensation (SUCRE for its Spanish acronym) that will come into force on January 1st, 2010, was very important.

Thus, the group made up by Venezuela, Cuba, Bolivia, Nicaragua, Saint Vincent and the Grenadines, Honduras, Ecuador, Dominica and Antigua and Barbuda, established a financial mechanism that will make it possible to give up dependence on the devalued US dollar. Congratulations!  Continue Reading…

The Global Debt Crisis is Destroying the Economic Structure

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Published on Global, by Bob Chapman, Oct. 23, 2009.

Choosing College:

The decision of more young people to attend college, which could help them increase their earning potential later in life, may be one silver lining of the recession, economists say.

Similarly, back when graduating from high school was a rarer achievement, the Great Depression pushed potential dropouts to stay in high school because work was so hard to come by.  Continue Reading…

All the Populism Money Can Buy

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A CounterPunch Diary

Published on Counterpunch, bx ALEXANDER COCKBURN, October 23-25, 2009.

Across the country, last weekend there were anti-war demonstrations, modest in turnout, but hopefully a warning to Obama that war without end or reason in Afghanistan, plus 40,000 more troops to Kabul, is not why people voted for him.

I spoke at our own little rally in my local town of Eureka, California. My neighbor Ellen Taylor decided to spice up the proceedings by having a guillotine on the platform, right beside the Eureka Courthouse steps. It’s in the genes. Her father was Telford Taylor, chief U.S. prosecutor at Nuremberg.  Continue Reading…

Great Power Confrontation in the Indian Ocean: The Geo-Politics of the Sri Lankan Civil War

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Published on Global, by Mahdi Darius Nazemroaya, Oct. 23, 2009.

The support and positions of various foreign governments in regards to the diabolic fighting between the Tamil Tigers and the Sri Lankan military, which cost the lives of thousands of innocent civilians, says a great deal about the geo-strategic interests of these foreign governments. The position of the governments of India and a group of states that can collectively be called the Periphery, such as the U.S. and Australia, were in support of the Liberation Tigers of Tamil Ealam (LTTE) or Tamil Tigers, either overtly or covertly. Many of these governments also provided this support tacitly, so as not to close any future opportunity of co-opting Sri Lanka after the fighting was over … //

Enter the Chinese Dragon: The start of Sri Lankan Estrangement from the U.S. and India:   Continue Reading…

Geo-Strategic Chessboard: War Between India and China?

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Published on Global, by Mahdi Darius Nazemroaya, Oct. 17, 2009.

Since 1947, India has not fully pledged itself to any camp or global pole during the Cold War and as a result was a founding member of the Non-Aligned Movement (N.A.M.). Since the post-Cold War era that position has eroded. New Delhi has been gradually moving away from its traditional position, relationships, and policies in the international arena for over a decade.

India has been vied for as an ally in the “Great Game” that is underway, once again. This round of the “Great Game” is, however, being played under a far broader spectrum than the one played between Britain and Czarist Russia. In question is the Indian power relationship with two geo-political entities: the first is the “Periphery” and the second is “Eurasia.”

The Periphery and Eurasia: Vying for India on a Geo-Strategic Chessboard: …  // Continue Reading…

UBS et l’hégémonie du dollar

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Publié sur, par Jean-Claude Paye, 21 octobre 2009.

Survenu en pleine crise financière, l’accord entre la banque suisse UBS et le fisc états-unien permet à Washington de stopper l’évasion fiscale et à UBS de continuer ses activités aux États-Unis. Or, ce qui semble une solution à l’amiable clôturant un dossier, est en réalité la soumission d’UBS aux intérêts de Washington. Désormais, observe Jean-Claude Paye, la banque helvétique sera le cheval de Troie de l’Empire pour dissoudre la souveraineté helvétique …

… Une réorganisation US du système financier international
L’action de l’administration états-unienne contre cette banque helvétique est l’utilisation d’une opération contre l’évasion fiscale de ses nationaux, afin de modifier, à son avantage, les règles de fonctionnement du système bancaire mondial.  Continue Reading…

Leftist Latin American leaders Drop Dollar, Agree on New Currency …

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Published on Atlas Shrugs, by Pamela Geller, October 17, 2009.

COCHABAMBA, Bolivia — Leftist Latin American leaders have agreed on the creation of a regional currency to scale back on the use of the US dollar as well as economic sanctions against Honduran coup leaders.

Nine countries of ALBA, a leftist bloc conceived by Venezuelan President Hugo Chavez, met Friday in Bolivia where they vowed to press ahead with a new currency for intra-regional trade to replace the US dollar.

“The document is approved,” said Bolivia’s President Evo Morales, who is hosting the summit.  Continue Reading…

Is the new altruism a means to an end?

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Published on, by James Lamont, October 21, 2009.

An unusual act of self-sacrifice by a company chairman has found remarkably little resonance in a land where austerity is a way of life for most of the population and some of its most revered leaders.

On the eve of Diwali, a Hindu festival that in part celebrates prosperity, Mukesh Ambani, India’s richest man and chairman of Reliance Industries, volunteered a 66 per cent pay cut. Mr Ambani, who ranks seventh in a world tally of billionaires, would instead make 150m rupees ($3.2m) in 2008-09.

No other scions of India’s largely family-owned business elite have opted to follow this seemingly exemplary lead, nor have they heartily cheered this act.   Continue Reading…

Challenging the Banks

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Linked with Danny Schechter – USA, and with A New Way

Published on Global, by Danny Schechter, October 19, 2009.

… Lets say, concerned folks assembled at bank key bank branches
during the noon hour—Mondays at Chase, Tuesdays at BOA, Wednesdays
at Wells Fargo, Thursdays at Wachovia etc and then spent dress down
Fridays at Goldman Sachs or Morgan Stanley? I am sure the bankers will welcome the opportunity to “dialogue”
with their enraged critics and customers. This can only work if it is
done regularly, week after week. One shots won’t work. They may make
protesters feel good but that’s all they will accomplish.   Continue Reading…

New Security Configuration in the Caucasus

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Published  on The Hindu, by Vladimir Radyuhin, Oct. 20, 2009.

… … In a joint declaration adopted at the summit, Russia and Turkey expressed support for Turkey’s CSCP initiative, noted the “identity of view” on security and stability in the Black Sea region and reaffirmed their commitment to the Montreux Convention.

There is no denying that Russia and Turkey are historical rivals in the Caucasus, having fought 11 wars lasting 44 years in the past. They are still competing for influence in the region, but shared interests make them allies too. Russia meets 80 per cent of Turkey’s natural gas needs through the Blue Stream pipe laid on the seabed across the Black Sea. Turkey has backed the Russian proposal to build a Blue Stream-2 pipeline, which, together with the Baku-Tbilisi-Ceyhan pipeline, would make Turkey a major energy transit hub for Europe and Israel.   Continue Reading…

Jammu and Kashmir: Solution within the Indian Constitution?

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Linked with Paul Beersmans – Belgium, and with Belgian Association for Solidarity with Jammu and Kashmir BASJAK.

Published on BASJAK, by Paul Beersmans, October 2009, 19 pdf-pages. – Report prepared for the HUMAN RIGHTS COUNCIL, twelfth session Geneva, 14 September – 02 October 2009.

1. INTRODUCTION: … (full long 19 pdf-pages text).

Please find the Conclusion of this report also published on K.N.Pandita’s blog KASHMIR and IDP’s.

Egyptian Political Islam: Engagement or Marginalization?

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Published on political affairs pa, by Mohammed Nosseir, oct. 01, 2009.

Six Arguments in Support of Disengagement:

Political Islam is a concept that has existed in Egypt for almost a century. It emerged in 1920 as a reaction Egypt’s occupation by the United Kingdom and the lack of resistance of this occupation on the part of the ruling monarchs of the time. The concept of political Islam in Egypt was embodied in the organization known as the ‘Muslim Brotherhood’ that is still active today and managed to obtain twenty percent of the parliamentary seats in the last parliamentary election in 2005.

The question often raised by Egyptian and Western scholars is whether the Muslim Brotherhood should be granted legal permission to establish a political party? Those who support the idea of allowing the Muslim Brothers to set up a political party justify their view by stating that the Muslim Brotherhood is a large and active political organization that should not be marginalized from the political sphere. The majority of the people who maintain that the Brotherhood should be disengaged from Egyptian political arena argue that since the Muslim Brotherhood is not a democratic organization, there is no doubt that it will put an end to democracy in Egypt should it come into power.  Continue Reading…

Govt’s May Need to Do for Workers What They Did for Banks

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Published on IPS, by Isolda Agazzi, Oct. 19, 2009.

GENEVA, Oct 19 (IPS) – The finding by the World Trade Organisation (WTO) and the International Labour Organisation (ILO) that the dropping of trade tariffs leads to jobs being lost in the formal sector while informal jobs grow is another confirmation of the adverse consequences of forced trade liberalisation.

Mark Halle, executive director of the International Institute for Sustainable Development’s Europe office, based in Geneva, in response to IPS’s questions about the joint study said that “it has long been clear that, if trade openness could benefit developing countries, that benefit depended on certain baseline conditions being in place before the economies are forced to open.

“In reality, most developing countries have had no choice in liberalising and have then been forced to scramble to ensure that they could draw some benefit from the new openness. In doing so, they received precious little help,” admonished Halle …  Continue Reading…

Début de la campagne de vaccination

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Lié avec Jim Turner Files Lawsuit Against FDA To Stop Swine Flu Vaccine, and with We Don’t Want Your Swine Flu Vaccinations.

Publié sur nouvelObs, 20 oct. 2009.

… 65% des infirmiers refusent la vaccination:

Pour le Pr Bruno Lina, la vaccination du personnel est un “enjeu clé”. “Si on a un pic épidémique important, s’il n’y a pas de soignants, des malades mourront”, a averti le virologue.
Du côté des médecins libéraux, susceptibles de servir de relais auprès du public, la situation n’est guère brillante, si l’on en croît un sondage Ipsos réalisé également en septembre pour le Quotidien du Médecin : à peine plus de la moitié d’entre eux se disent prêts à se faire vacciner. Et, d’après une consultation lancée sur Internet à la même période par le Syndicat national des professionnels infirmiers (SNPI), parmi les 4.100 premières réponses, 65% refusent la vaccination. Même s’il reste à vérifier si ces résultats sont représentatifs, force est de constater que les réticences ne sont pas l’apanage des Français.
La défiance sévit aussi aux Etats-Unis où certains soignants ont intenté une action en justice contre la vaccination “forcée” et où 40 % seulement des adultes sont sûrs de se faire vacciner, selon une étude de la Harvard School of Public Health. Et seulement un parent américain sur deux déclare vouloir faire vacciner ses enfants.  … (texte entier).

The Rich Have Stolen The Economy

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Linked with Paul Craig Roberts – USA. – Published on Global, by Paul Craig Roberts, Oct. 16, 2009.

Bloomberg reports that Treasury Secretary Timothy Geithner’s closest aides earned millions of dollars a year working for Goldman Sachs, Citigroup and other Wall Street firms. Bloomberg reports that none of these aides faced Senate confirmation. Yet, they are overseeing the handout of hundreds of billions of dollars of taxpayer funds to their former employers …

… A record number of Americans, more than one in nine, are on food stamps. Mortgage delinquencies are rising as home prices fall. According to Jay Brinkmann of the Mortgage Bankers Association, job losses have spread the problem from subprime loans to prime fixed-rate loans. On a Wise, Virginia, fairgrounds, 2,000 people waited in lines for free dental and health care.  Continue Reading…

The monster is still untamed

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Published on IFIs, source Social Watch, Oct. 14, 2009.

Istanbul meetings legitimized the debate on the “Tobin tax” on international financial transactions or the idea of imposing a “global tax” on banks to bail out poor countries in case of a crisis, just as savings are ensured at the national level. According to DSK, “this is the starting point for a new IMF and you can proudly tell your grandchildren that you were in Istanbul when it all started” …

… Istanbul meetings legitimized the debate on the “Tobin tax” on international financial transactions or the idea of imposing a “global tax” on banks to bail out poor countries in case of a crisis, just as savings are ensured at the national level. According to DSK, “this is the starting point for a new IMF and you can proudly tell your grandchildren that you were in Istanbul when it all started.”   Continue Reading…

Société: Donnez-leur de la flexibilité

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Publié sur Solidarité et Progrè, par Odile Mojon, Oct. 16, 2009. En réaction à la chronique de Jacques Attali sur les suicides à France-Télécom: Arrêtons le carnage social! du 20 septembre 2009.
(A l’heure où nous publions ces lignes, nous apprenions le vingt-cinquième suicide chez France-Télécom)

J’ai lu et relu avec attention la chronique de Jacques Attali dans L’Express du 17 septembre, intitulée La France est bleue comme une orange, consacrée aux suicides chez France-Télécom … // … En lisant cela, j’essayais de me représenter M. Attali en train d’écrire sa chronique: très probablement depuis un bureau où il a ses habitudes, un bureau calme, bien aménagé, luxueux peut-être, comme on pourrait s’y attendre pour un homme fréquentant les allées du pouvoir. Un homme pour qui confort et bien-être financier récompensent un dévouement sans faille à la cause de ceux d’en haut … // … Je dois ici avouer que, considérant tout cela, une pensée iconoclaste me traversa la tête … Et si Jacques Attali avait raison; s’il avait raison mais se trompait de cible? Car il a raison, c’est évident; dans ce pays règne un indécrottable conservatisme… … dans les classes privilégiées! Chers lecteurs, vous n’en êtes pas nécessairement conscients car elles sont discrètes, confortablement installées derrière les portes blindées et les caméras de vidéo-surveillance de leurs beaux immeubles des quartiers chics …

… Figurez-vous que j’allais même jusqu’à me demander si, lui aussi, était invité sur le yacht de Bolloré, s’il était un intime du vice-président Pébereau et s’il était proche d’Alain Minc! Je dois ici avouer que, considérant tout cela, une pensée iconoclaste me traversa la tête  …  Et si Jacques Attali avait raison; s’il avait raison mais se trompait de cible? Car il a raison, c’est évident; dans ce pays règne un indécrottable conservatisme … dans les classes privilégiées!  Continue Reading…

Collapse of the Greenback? Will the Dollar get an Arab Oil Shock?

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World Economy

Linked with Frederick William Engdahl – Germany and USA. – Published on, by F. William Engdahl, not dated.

According to a leaked report from Arab Gulf oil producers, there have been a series of secret meetings in recent months between the major Arab oil producers, including Saudi Arabia, and reportedly also Russia, together with the leading oil consumer countries including two of the three largest oil import countries―China and Japan.

Their project is to quietly create the basis to end a 65-year long “iron rule” of selling oil only in US dollars. As I document in my book, Century of War, following the 400% oil price shock of 1973, which was deliberately blamed by US media on “greedy Arab Sheikhs,” the US Treasury made a secret trip to Riyadh to tell the Saudis in blunt terms that if they wanted US military defense against potential Israeli attack, that OPEC must privately agree never to sell oil in currencies other than the US dollar. That “petrodollar” system allowed the US to run staggering trade deficits and remain the world reserve currency, the heart of its ability to dominate and control world financial markets until the crisis of the  sub-prime real estate securitization in August 2007.    Continue Reading…

China and Russia Developing Yuan-Ruble Trade Settlement

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Published on Global, by Washington’s Blog, Oct. 17, 2009.

You’ve heard the rumor that Middle Eastern oil producers, plus China, Japan and France have all agreed to start trading oil using a basket of currencies – instead of the dollar – starting in 9 years (see this explanation for why the governments are denying the rumor). But – whether or not the rumor is true – the world has actually been moving away from the dollar as the preferred method for settling trades for years.

The Wall Street Journal reported yesterday:

  • China and Russia are working on ways to eventually settle their trade with the Chinese yuan and Russian ruble, senior government officials from the two countries said Tuesday.    Continue Reading…

Lists of black listed Organizations

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Published on doc.stoc. You can find there a total of 55 Indian Organizations … for irregularities in socio-economic programme (dairy).

See also another list of 18 companies published on sunilkumar.

Reviving the Local Economy with Publicly-Owned Banks

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Published on Global, by Ellen Brown, October 15, 2009.

… Maximizing the Potential of a Publicly-owned Bank:

Economist Farid Khavari is a Democratic candidate for governor of Florida in 2010. He proposes a Bank of the State of Florida (BSF) that would take full advantage of the potential of a bank charter. It would not only act as a depository for the state’s funds but would actually make loans to Floridians, at much lower interest rates than they are getting now. Among other benefits, the BSF could open up frozen credit markets, save homeowners many thousands of dollars in payments, produce major revenues for the state, and allow the state’s own debts to be refinanced at much lower rates. All those benefits are possible, says Khavari, because of the “fractional reserve” banking system used by all banks when they make loans. As he explained in a July 29 article in Reuters:

  • “Using the fractional reserve regulations that govern all banks, we can earn billions per year for Florida’s treasury, while saving thousands of dollars per year for Florida homeowners. . . . For $100 in deposits, a bank can create $900 in new money by making loans. So, the BSF can pay 6% for CDs, and make mortgage loans at 2%. For $6 per year in interest paid out, the BSF can earn $18 by lending $900 at 2% for mortgages.
  • “The BSF can be started at no cost to taxpayers, and will be a permanent engine driving Florida’s economy. We can refinance state and local projects at 3%, saving taxpayers billions and balancing state and local budgets without higher taxes.”    Continue Reading…

Is It Not Time For The Minorities To Become The Majority?

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Published on, by Dr.K.Vidyasagar Reddy, 14 October, 2009.

… While it is unfair to brand all Hindus as communal, it is also unfair to paint all minorities, be they Muslims, Christians, Sikhs, jains etc., as fundamentalist. In other words, it is pointless to generalise all the religious people as communal as there are only a handful of such people in any religion who, at times, become narrow-minded and chauvinistic. Their overt and covert actions of spontaneous nature might provoke reactions from the rival groups that tend to jeopardise the peace and tranquillity in the society. Sometimes such actions lead to the rise of communal riots, whereas at some other times, they might lead to the vertical division of the society on the basis of religion, as was the case with the partition of India in 1947 …

… As a matter of fact, majority has been viewed as ‘’mobocracy’ from the ancient times onwards. Sometimes, its practice would lead to development of perverted form of governance whereby reason and rationality become casualties. Continue Reading…

Stand against Poverty – 16-18 October 2009

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Linked with NGLS – UN’s Non-Governmntal Liaison Service, with Stand against Poverty, and with Stand-Up-against-poverty day.

Published on NGLS, October 5, 2009.

  • On 16, 17 and 18 October, the UN Millennium Campaign and the Global Call to Action Against Poverty (GCAP) are coordinating “Stand Up & Take Action” against poverty, an annual global event in which millions of people urge their governments to keep their promises and to undertake all the necessary steps to achieve the Millennium Development Goals MDGs.
  • The relaunched website, features success stories; provides toolkits and other information materials; includes a map showing registered events around the world and invites everyone to join the global movement and to stand up against poverty.
  • Last year, the global event had 116 million participants and, as such, ended up being a Guinness World Record. For more information, click here.

Links: Stand up, take action – Homepage, About, Actions, Contact online; NGLS.

A record year for Wall Street pay

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Published on WSWS, by Barry Grey, 15 October 2009.

According to the Wall Street Journal, the major US banks and financial firms are on track to hand out a record $140 billion in compensation this year. This is a 20 percent increase from 2008 and $10 billion more than the previous record, set in 2007.

The stock market celebrated the news, outlined in a front-page Journal article on Wednesday, along with the release of JPMorgan Chase’s third-quarter earnings report, which showed a seven-fold increase in profits from last year to $3.6 billion. The Dow Jones Industrial Average rose 145 points, closing above the 10,000 mark for the first time in a year.

The record pay being handed out by the 23 largest publicly traded banks, hedge funds, asset management firms and stock and commodity exchanges (the report did not include privately held companies) underscores the class interests being served by the Obama administration and the subordination of the entire political system to a financial aristocracy which essentially dictates government policy.  Continue Reading…

An Imperial Strategy for a New World Order, The Origins of World War III, Part 1

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Published on Global, by Andrew Gavin Marshall, October 16, 2009.


In the face of total global economic collapse, the prospects of a massive international war are increasing. Historically, periods of imperial decline and economic crisis are marked by increased international violence and war. The decline of the great European empires was marked by World War I and World War II, with the Great Depression taking place in the intermediary period.

Currently, the world is witnessing the decline of the American empire, itself a product born out of World War II. As the post-war imperial hegemon, America ran the international monetary system and reigned as champion and arbitrator of the global political economy.   Continue Reading…

The American way of debt: Turning a profit by preying on the poor

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Published on WSWS, by Nancy Hanover, 14 October 2009.

The increasingly desperate financial crisis facing large sections of the American working class has been writ large in statistics. In September, 15.1 million people were unemployed, with over 5.4 million out of work for six months or more. Counting discouraged and involuntary part-time workers, the unemployment figure in America is now 17 percent, while those still holding a job are down to an average of 33 hours a week, a record low.

Millions in the US are facing impossible levels of personal debt, rising credit card delinquencies, utility shutoffs, foreclosures and homelessness.

But a section of business has turned the growth of poverty into a gold mine. Standing behind the big banks are several layers of an increasingly complex and parasitic finance industry. In the middle of this food chain are the professional debt buyers and securitized investors. At the bottom are the collection agencies, the scavengers who relentlessly pursue individual workers.  Continue Reading…

Venezuela Grants Land to Indigenous Communities On Indigenous Resistance Day

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Published on Venezela Analysis, by Kiraz Janicke, Oct 13, 2009.

Celebrating 517 years of indigenous resistance to invasion and colonisation Venezuela marked Indigenous Resistance Day on Monday with a street march through the capital, Caracas, the granting of title deeds to indigenous communities, and a special session of the National Assembly …

… Despite many unresolved issues, indigenous peoples have made significant advances in Venezuela over the last 10 years. The Bolivarian Constitution adopted in 1999, through Art. 8 specifically emphasises recognition and respect for indigenous land rights, culture, language, and customs.  According to the constitution, the role of the Venezuelan state is to participate with indigenous people in the demarcation of traditional land, guaranteeing the right to collective ownership.  The state is also expected to promote the cultural values of indigenous people.  Continue Reading…