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Index October 2011

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2011-10-01: Wall Street vs. everybody;
2011-10-02: Capitalism for the poor no more?
2011-10-03: 700 arrested on Brooklyn Bridge in Vancouver-inspired protest;
2011-10-04: Be afraid;
2011-10-05: Why the New Security Zone along the Canadian Border?
2011-10-06: The US government has been selling out its Citizens in Pursuit of Money and Power;
2011-10-07: US envoys from Hell;
2011-10-08: Afghanistan is losing time for a peaceful solution – and the Taliban know it;
2011-10-09: GEAB N°57 – Contents;
2011-10-10: Debt Deflation in Europe and America;
2011-10-11: A Brief Analysis from a Wall Street Occupier;
2011-10-12: List of sovereign states by current account balance;
2011-10-13: More Swiss bankers charged in United States;
2011-10-14: French Socialist Finalists Seek Greater State Control of Banks;
2011-10-15: U.S. Strategic Nuclear Policy: A Video History, 1945-2004;
2011-10-16: Beware social justice promises by international bankers;
2011-10-17: 2011-10-17: Uncommon India;
2011-10-17: rich eats poor – poor eats rich;
2011-10-18: Excerpt of GEAB no 58;
2011-10-19: another Noble for even more fairy tale economics?
2011-10-20: Shock Therapy in Greece: A Mega-Strike Aims to Challenge Austerity;
2011-10-21: The public option in banking: Another look at the German model;
2011-10-22: the capitalist’s network that runs the world;
2011-10-23: Financial black holes and economic stagnation: An explanation;
2011-10-24: German-French conflicts deadlock European Union summit;
2011-10-25: A New Hurdle for Europe: German Parliament Slows Euro Rescue Decisions;
2011-10-25: EU Paper Says EFSF Special Vehicle Would Be Used For Bond Purchases;
2011-10-26: Population boom weighs down Pakistan;
2011-10-26: Punks und Papas reichen sich die Hand;
2011-10-27: Occupy Wall Street OWS movement at a crossroads;
2011-10-27: Horror of female circumcision;
2011-10-28: Change You Can Believe In;
2011-10-29: China: Eurozone debt deal welcomed;
2011-10-30: Occupy Wall Street versus The Tea Party;
2011-10-30: Euro Rescue-Parachutes;
2011-10-31: Monetative – a Monetary Modernization.

Monetative – a Monetary Modernization

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A people’s initiative strives for the Plain Money Reform – Published on Current Concerns no 22, by Dr rer publ Werner Wüthrich, October 24, 2011.

Who are the initiators? – The Association “Monetary Modernization” (MoMo) has been established only recently. It partly consists of members of the INWO, the Initiative for Natural Economic Order, Switzerland. This organization has its roots in the free economic movement, which was initiated in 1915 by Silvio Gesell. Let me add just a few comments that are of importance for the following:  Continue Reading…

Euro Rescue-Parachutes

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Letter to Current Concerns’ editor – Published on Current Concerns no 22, by Economicus, October 24, 2011.

  • We do not know exactly whether the forthcoming euro-umbrellas are to protect against the southern sun or against the freefall of euro-hostile centers. It also is uncertain, how large the umbrellas must be and how they can be opened. And who exactly will hang from the parachutes?
  • The worthless dollar?
  • The speculative financial economy?
  • The justice-perverting ECB?
  • What is clear, however, is that with the parachutes neither the possessions of a northern nor of a southern EU citizen are to be rescued – instead he, the citizen, will be stigmatized as an innocent debtor and will be enslaved by taxes and inflation.
  • The majority of the decision-making politicians are well aware of that! They are obviously being blackmailed, threatened and screamed at, to make them pursue a policy which is contrary to the interests of the majority of their voters.
  • Are the politicians so keen to keep their seats that they even ready to break their oath of office?
  • The most effective euro rescue-umbrellar will open as soon as when those criminal groups will be deprived of their gambling money, i.e. as soon as the citizen refuses to pay duties and taxes.

Occupy Wall Street versus The Tea Party

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Core Differences Beneath Surface Parallels – Published on ZNet, by Paul Street, October 28, 2011.

… The Tea Party’s Fake and Rancid Populism:

Beyond easily noticeable similarities, however, deep and fundamental differences significantly undermine the Tea Party – OWS parallel posited by Scherer and other mainstream commentators. As Anthony DiMaggio and I showed in our book Crashing the Tea Party: Mass Media and the Campaign to Remake American Politics (Paradigm, 2011), the quickly entrenched and mainstreamed media description of the Tea Party as a refreshing, independent-nonpartisan, anti-establishment, insurgent, grassroots, populist, and democratic force that constituted a leaderless and decentralized popular social and political protest movement was deeply inaccurate.   Continue Reading…

China: Eurozone debt deal welcomed

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Linked on our blogs with EU sustainability schemes fall short of safeguarding rural livelihoods, on Food Crisis and the Global Land Grab, October 27, 2011.  – Published on China Daily /Europe, October 28, 2011.

… Analysts said that China should extend support to EU efforts to tackle the ongoing financial turmoil because it is threatening the demand for Chinese exports to the region. However, they said China should be cautious about the risk of investing in European sovereign bonds.   Continue Reading…

Change You Can Believe In

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Published on Zcommunications (first on The Nation), by Jeremy Brecher, October 26, 2011.

The occupation movement that began on Wall Street and is now spreading across America is part of a tradition known in the American Revolution as the “people out of doors” – marches, demonstrations, and impromptu assemblies that historian Gordon S. Wood described as “extra-legislative action by the people” who “could find no alternative institutional expression for their demands and grievances.” The movement has provided new hope for progressive social change. But it also raises many questions about how such movements can be sustained and grow powerful while retaining the democratic impulse that inspired them in the first place … //   Continue Reading…

Horror of female circumcision

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Watch this video, published on english Al Jazeera, 2.49 minutes, 8 Feb 2008: Female genital mutilation is carried out for cultural and religious reasons. Women across the world are affected by the practice which is widely recognised as a violation of human rights.

Occupy Wall Street OWS movement at a crossroads

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Published on WSWS, by Joseph Kishore, October 26, 2011.

… Twenty years ago, the collapse of the Soviet Union was followed by proclamations by the propagandists of the ruling class of the “end of history” and the demise of the class struggle. The official “left” played its role by attempting to suppress any discussion of class in favor of the various forms of identity politics. Socio-economic class was presented as an altogether subordinate category to race, gender and sexual orientation.  Continue Reading…

Punks und Papas reichen sich die Hand

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Aus der Frankfurter Rundschau, 22. Oktober 2011.

Die Veranstalter hielten sich mit großen Erwartungen an die zweite Occupy-Frankfurt-Demonstration vorsichtig zurück. Das wäre nicht nötig gewesen. Denn in Frankfurt gingen wieder mindestens 4000 Menschen auf die Straße, so die Schätzung der Polizei. Continue Reading…

Population boom weighs down Pakistan

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Demographic reality raises questions about religion, culture and where the two intersect in South Asian nation. – Published on english Al Jazeera, October 25, 2011.

With four million (4 Mio) births per year, Pakistan is poised to become the world’s fourth most populous nation in just under 40 years. With the exploding population come questions about religion, culture and where the two intersect. Conservative religious leaders equate “family planning” with murder, but maternal-health activists say the claims of religious conservatives serve a cultural and political goal.  Al Jazeera’s Imtiaz Tyab reports from Lahore on whether the personal is becoming politicised in a nation where 70 per cent of women do not use any form of birth control. Watch the video, 2.07 Minutes, on Al Jazeera.

EU Paper Says EFSF Special Vehicle Would Be Used For Bond Purchases

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Banks -EU Source. – Published on The Wall Street Journal, by Matina Stevis, OCTOBER 24, 2011.

BRUSSELS (Dow Jones)–Euro-zone leaders are considering setting up a special purpose vehicle that would be used to attract public and private funds and would buy bonds and raise funds for bank recapitalization, a senior E.U. official familiar with the ongoing discussions said Monday.  Continue Reading…

A New Hurdle for Europe: German Parliament Slows Euro Rescue Decisions

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Published on Spiegel Online International, by Ralf Neukirch, Christian Reiermann and Christoph Schult, October 23, 2011.

… The complication is the result of a ruling by Germany’s constitutional court, which grants the Bundestag a substantial say in crisis measures. But the German government is also at fault. To convince euro skeptics in its own ranks to approve the bailout fund, it allowed the parliament to give itself far more influence than required by the judges on the constitutional court in the southwestern city of Karlsruhe.  Continue Reading…

German-French conflicts deadlock European Union summit

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Published on WSWS, by Peter Schwarz, October 22, 2011.

The much heralded European Union summit this weekend will not take any decisions to stabilize the euro due to unresolved differences between Germany and France. Instead, the 17 heads of state and government of the euro zone plan to reassemble in Brussels next Wednesday to decide on a package of measures.   Continue Reading…

Financial black holes and economic stagnation: An explanation

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Linked on our blogs with Rodrigue Tremblay, Canada. – Published on Intrepid Report, by Rodrigue Tremblay, October 21, 2011

… Many governments had the imprudence of piling up debt upon debt over the last thirty years, but especially over the last ten years. There are four main causes for such a public binge of debt in many countries:   Continue Reading…

the capitalist’s network that runs the world

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Published on Global (first on News Scientist), by Andy Coghlan and Debora MacKenzie, October 20, 2011. (My comment: UBS AG, which had to be sustained/saved with the Swiss people’s tax money, is on place 9, Credit Suisse Group on place 14, and Lehman Brothers Holdings Inc still exists in the 2007 used dataset on place 34).

1318 transnational corporations TCNs … form the core of the economy … see Graphic: The 1318 transnational corporations that form the core of the economy … An analysis of the relationships between 43,000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy.  Continue Reading…

The public option in banking: Another look at the German model

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Published on Intrepid Report, by Ellen Brown, October 19, 2011.

Publicly-owned banks were instrumental in funding Germany’s “economic miracle” after the devastation of World War II. Although the German public banks have been targeted in the last decade for takedown by their private competitors, the model remains a viable alternative to the private profiteering being protested on Wall Street today.  Continue Reading…

Shock Therapy in Greece: A Mega-Strike Aims to Challenge Austerity

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Published on Spiegel Online International, by Ferry Batzoglou in Athens, October 19, 2011.

Little wonder, then, that a Greek population already inclined toward public protest are taking to the streets in a general strike on Wednesday and Thursday in order to increase pressure on the government. But there are no concessions left that Athens can offer to its people.   Continue Reading…

another Noble for even more fairy tale economics?

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Published on Real-World Economics Review Blog, by Merijn Knibbe, October 17, 2011.

Real Noble prices are awarded to people who discovered new facts, or methods to discover new facts, or to the people who published these discoveries. Do the ‘look alike’ Nobles for Christopher Sims and Tom Sargent pass this test? … // Continue Reading…

Excerpt of GEAB no 58

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(also in de, es, fr) – Published on GlobalEurope Anticipation Bulletin GEAB, October 16, 2011.

As anticipated by LEAP/E2020, the second half of 2011 is seeing the world continuing its unstoppable descent into global geopolitical dislocation characterized by the convergence of monetary, financial, economic, social, political and strategic crises. Continue Reading…

rich eats poor – poor eats rich

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When the only thing left for the poor to eat – is the Rich. – Author unknown, found on the blog Weggis.

.big fish eaten by little fishes.

Uncommon India

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Published on Dissident Voice, by Nidhi Zakaria Eipe *, October 15, 2011.

Am I the only one who was troubled by this recent suggestion, from a well-respected Member of the Indian Parliament, that Indian Prime Minister Manmohan Singh’s decision not to attend the upcoming Commonwealth Heads of Government Meeting in Perth may not be—as reported—due to more pressing engagements in the form of G20 and SAARC ** summits, but rather a rebuke of Australia’s refusal to supply enriched uranium to augment India’s civilian nuclear program?  Continue Reading…

Beware social justice promises by international bankers

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Published on Pambazuka News, by Pagtrick Bond, October 13, 2011.

In these days of dire economic and environmental crisis, with political elites under attack from Athens to Washington, the establishment is desperate for legitimacy. Even International Monetary Fund (IMF) staff now publicly endorse social justice’ at the same time they tighten austerity screws, writes Patrick Bond. Someone needs to hold them to account … //  Continue Reading…

U.S. Strategic Nuclear Policy: A Video History, 1945-2004

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Published on The National Security Archives, NSA Electronic Briefing Book No. 361, by William Burr, October 11, 2011.

  • Sandia Labs Historical Video Documents History of U.S. Strategic Nuclear Policy – Interviewees Include Robert McNamara, Brent Scowcroft, James Schlesinger and Last Strategic Air Commander-in-Chief Lee Butler.
  • Watch the short video clips in the right column.
  • Watch also the long video: US Strategic Nuclear Policy, Part 1, 59.48 minutes, reproduced with the permission of Sandia National Laboratories (Disk 1: 1945-1954: Chapters 1 through 9).
  • Includes Revelations on “Out of Control” Nuclear Targeting During the 1980s.
  • For more information contact William Burr, Tel (USA) 202/994-7000    Continue Reading…

French Socialist Finalists Seek Greater State Control of Banks

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Published on Bloomberg Businessweek, by Helene Fouquet, October 13, 2011.

The two finalists in the battle for the Socialist Party’s nomination in the French presidential vote said the state must take greater control of banks and called for increased regulation of global financial transactions.  Continue Reading…

More Swiss bankers charged in United States

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Published on, by and agencies, October 12, 2011.

Two client advisers linked to Swiss private bank Julius Bär have been charged in the United States with helping American citizens avoid paying taxes. The pair are accused of helping clients hide more than $600 million (SFr546 million) in offshore accounts and evade paying taxes on those accounts. Although the indictment by the US Attorney’s Office refers only to the pair working at “Swiss Bank No.1”, Julius Bär confirmed in a statement that one former and one current employee were the subjects of the indictment.  Continue Reading…

List of sovereign states by current account balance

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List of sovereign states by current account balance … all thanks to en.wikipedia.

This is a list of countries and territories by current account balance CAB, based on data from 2010 (with some exceptions), as listed in the CIA World Factbook …[1]

/See also on en.wikipedia:

A Brief Analysis from a Wall Street Occupier

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Published on ZNet, by Yotam Marom, October 04, 2011.

… The struggle is still very much underway; those of us who can, who have that privilege, should be out in the streets, so now might not be the time for the most thorough analysis. It is, however, important for occupiers to be writing in our own words – to reach out to the many around the world who want to be a part of this in some way, to offer our own analyses (infinitely more powerful than those provided by pundits from far away), and to counter the media black-out we are experiencing … //  Continue Reading…

Debt Deflation in Europe and America

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Published on Global, by Prof. Michael Hudson, October 8, 2011. (Edited Interview by Bonnie Faulkner with Michael Hudson, September 2, 2011, first aired on Pacifica, September 14, 2011 – see also Guns and

… Is the European Central Bank part of the government, or is it privately owned?

  • It’s government-owned, but Europe’s governments themselves are being privatized by a financial oligarchy. The Europeans can’t imagine a private central bank – at least, not yet. So it is a government body, but it’s independent of the government. It’s run by bank officials, not by elected officials or by parliament, although its heads are appointed by parliament. So the situation there is very much like the Federal Reserve here. Bankers in effect have a veto power over any bank officer that does not act as a lobbyist to defend their interests vis-à-vis the rest of the economy.   Continue Reading…

GEAB N°57 – Contents

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Published on Global Europe Anticipation Bulletin GEAB, Sept. 16, 2011: some articles concerning financial assets, global crisis, G20, strategic priorities … etc. etc. … available also in french, german and spanish. What they predict is not nice, but maybe we have to stand it (or another solution: we change it).

Afghanistan is losing time for a peaceful solution – and the Taliban know it

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Headlines of the past decade in Afghanistan have been about the bloodshed, but behind them lies political failure at every level – Published on The Guardian, by Declan Walsh, Oct. 7, 2011.

Ten years ago, as the first American bombs fell on Afghanistan, a Pashtun tribal leader slipped across the Pakistani border riding a motorbike. He wore a loosely tied turban, was accompanied by three companions and carried a CIA-donated satellite phone. His name was Hamid Karzai … //  Continue Reading…

US envoys from Hell

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Linked on our blogs with Eric Walberg, Canada. – Published on Eric, by Eric Walberg, October 6, 2011.

The choice of US ambassadors to Central Asia and the Middle East gives one pause for thought, says Eric Walberg. The 711 coalition deaths in Operation Enduring Freedom in Afghanistan last year made 2010 the deadliest one for foreign troops since the US invasion in 2001, continuing the upward trend since 2003. 2011 promises to be even more deadly, and already includes the most spectacular event in this gruesome body count, when insurgents shot down a helicopter in eastern Afghanistan, killing 30 Americans.  Continue Reading…

The US government has been selling out its Citizens in Pursuit of Money and Power

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Published on Global, by Devon DB, October 4, 2011.

For decades, the US government has been selling out its citizens in pursuit of money and power. Due to their actions at home and abroad, they have made the world a more dangerous place for Americans and betrayed the values America was founded on by allowing the rise of a police state.  Continue Reading…

Why the New Security Zone along the Canadian Border?

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Published on The Peoples Voice, by Michael Collins, Oct. 4, 2011.

The Department of Homeland Security (DHS) just issued an environmental report on its enhanced security plan to cover an area extending from the East Coast to the West Coast, from the northern border of the United States to 100 miles south of the border. While there are few specifics on the new security measures, the environmental report offers enough to see how we will be protected against threats to national security coming from Canada … //  Continue Reading…

Be afraid

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… until politicians actually do something about the word economy. – Published on The Economist, 1er octobre 2011.

IN DARK days, people naturally seek glimmers of hope. So it was that financial markets, long battered by the ever-worsening euro crisis, rallied early this week amid speculation that Europe’s leaders had been bullied by the rest of the world into at last putting together a “big plan” to save the single currency. Investors ventured out from safe-haven bonds into riskier assets. Stock prices jumped: those of embattled French banks soared by almost 20% in just two days … //   Continue Reading…

700 arrested on Brooklyn Bridge in Vancouver-inspired protest

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Published on The Hook, by Kilian Crawford, Oct. 1, 2011. – Watch it also: live-stream video on Adbusters from the nonviolent Wall Street Occupation OWS in NYC and financial districts around the world.

An estimated 700 persons were arrested on New York City’s Brooklyn Bridge on Saturday evening. It was the latest development in a weeks-long protest inspired by Vancouver-based Adbusters. The movement, calling itself #OccupyWallStreet OWS, has been gathering followers and momentum since mid-September, despite little mention of it in mainstream US media. In a September 19 post on its website, Adbusters wrote about A Tahrir Moment on Wall Street: … //   Continue Reading…

Capitalism for the poor no more?

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Published on, by Milford Bateman, Sept. 29, 2011.

The concept of microcredit – tiny microloans used to help establish or expand income-generating microenterprises – was for a long time seen by the neoliberal policy-making establishment as the perfect self-help answer to poverty, unemployment and underdevelopment. Long associated with the passion and practical work of Bangladeshi economist and Nobel Peace Prize recipient, Dr Muhammad Yunus, and a little later with Peruvian economist, Hernando De Soto, great things were promised.   Continue Reading…

Wall Street vs. everybody

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Wall Street got drunk [ . . . ] It got drunk and now it’s got a hangover.”—George W. Bush – Published on Intrepid Report, by Linh Dinh, September 29, 2011.

As usual, Bush got it wrong. Wall Street soberly and cynically got the rest of us drunk on dreams of homeownership, a robust stock portfolio and a cozy retirement. This slurry bacchanal was fueled by the housing bubble and, when that exploded in our faces, bailouts saved Wall Street from any hangover, so it’s us who will suffer through a torturous, decades-long headache of a ruined economy.  Continue Reading…