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Index June 2012

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2012-06-01: The Irish Slave Trade: The Forgotten White Slaves – The Slaves That Time Forgot;
2012-06-02: GLOBAL FINANCIAL MELTDOWN: Convergence of 4 Explosive Factors;
2012-06-03: Montreal: Welcome to the Revolution;
2012-06-04: … and now what? … ;
2012-06-05: Out of the mouths of babes;
2012-06-06: Breakaway or breakup?
2012-06-07: Towards a Global Economic Slowdown: Stock Market Slide, Declining GDP, Rising Unemployment;
2012-06-08: Financial Collapse At Hand: When is Sooner or Later?
2012-06-09: The global economy: Start the engines, Angela;
2012-06-10: Just how corrupt is Europe?
2012-06-11: Bringing the Battlefield to the Border;
2012-06-12: Osborne wrong again in passing buck to eurozone;
2012-06-13: Greece and the euro: Fifty ways to leave your lover;
2012-06-13: Cash Investigation – La Finance Folle;
2012-06-14: Capitalism: I Am No Economist, But Here Is My Take;
2012-06-14: Survivre à l’éffondrement économique;
2012-06-15: Where did all the Euro’s go … (graph);
2012-06-16: TZM GLOBAL RADIO, JUNE 13, 2012;
2012-06-16: Monday’s storm;
2012-06-17: What China’s direct computer link to US Treasury means;
2012-06-18: Austerity Kills: How the EuroCrisis is Being Used to Break the Social Contract;
2012-06-19: Economic history: Germany, Greece and the Marshall Plan;
2012-06-20: Global Order Poised between Promise and Chaos: The Role of China;
2012-06-21: New Directions in Monetary Economics: An Interview with Marc Lavoie – Part II;
2012-06-22: America’s budget woes: Shift this cliff;
2012-06-23: Wall Street’s Protection Racket of Covert Derivatives;
2012-06-24: Egypt: The Regime Demands the Fall of the People;
2012-06-25: Bush, Cheney Rumsfeld and 5 Others Responsible for War Crimes;
2012-06-26: Global systemic crisis – September-October 2012;
2012-06-27: The failed emergence of Egypt, Turkey and Iran;
2012-06-28: Venezuela’s cooperation with Big Sister China;
2012-06-29: Quelle Surprise! Barclays Settlement on Libor/Euribor Fixing Illustrates Bank Crime Pays Well;
2012-06-30: India and China: Friend, enemy, rival, investor.

India and China: Friend, enemy, rival, investor

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How can India make its economic relations with China less lopsided? – Published on The Economist, June 30, 2012.

DEALINGS between India and China are stunted in many ways. Rich cultural links once existed long ago, from the study of eclipses to Buddhist chanting, but hardly anyone remembers that today, laments Amartya Sen, a Nobel-prize-winning economist. After a love-in during the 1950s, China thumped India in a border war in 1962, and the two have continued to growl over their high-altitude frontier since. Indians envy China’s economic rise, but console themselves by pointing out that it is no democracy.   Continue Reading…

Quelle Surprise! Barclays Settlement on Libor/Euribor Fixing Illustrates Bank Crime Pays Well

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Published on naked capitalism, by Yves Smith, June 28, 2012.

It’s become oh-so-predictible that banks get at most “cost of doing business” punishments that they almost seem not worth noting. But that’s precisely why it’s important to keep tabs on them, to let the complicit authorities and the perps know that the public is not fooled, even it is not in a position to do anything about it…yet…   Continue Reading…

Venezuela’s cooperation with Big Sister China

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Published on Voltairenet.org, by Olivia Kroth, June 13, 2012.

China’s growing economic role in Venezuela is a direct result of Hugo Chávez’s systematic drive to supplant U.S. influence over his country, a trend that is spreading throughout Latin America. This staggering compendium of Sino-Venezuela co-operation projects, drawn up by Pravda journalist Olivia Kroth, is emblematic of the shift in the center of gravity towards China occurring in a region that Washington has traditionally regarded as its own backyard and which is now hanging the U.S. out to dry.   Continue Reading…

The failed emergence of Egypt, Turkey and Iran

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Published on Pambazuka News, by Samir Amin, June 21, 2012.

These three Middle Eastern nations have not succeeded in their attempts at emergence due to meddling by imperialist powers and the lack of capacity to challenge them. These three Middle Eastern states should normally have been found in lists of today’s ‘emerging’ states. They have each attempted, in the past, to modernise as a response to the challenge from Europe. Egypt attempted this under Pacha Mohamed Ali of the nineteenth century, as well as under Nasser. In Ottoman Turkey the Tanzimats (a reorganisation aimed at modernising the state) and later endeavours during the time of Ataturk (1920-1945) can be seen as the same, while Iran began with its revolution in 1907, and later the reign of Reza Palavi (until 1979).   Continue Reading…

Global systemic crisis – September-October 2012

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When the trumpets of Jericho ring out seven times for the world before the crisis – Published on GEAB no. 66, June 19, 2012.
http://www.leap2020.eu/GEAB-N-66-is-available-Red-alert-Global-systemic-crisis-September-October-2012-When-the-trumpets-of-Jericho-ring-out_a11079.html

When the trumpets of Jericho ring out seven times for the world before the crisis – Published on GEAB no. 66, June 19, 2012.

The progression of world events unfolds in accordance with the anticipations mapped out by LEAP/E2020 during these last few quarters. Euroland has finally come out from its political torpor and short-termism since François Hollande’s election (1) as France’s president and the Greeks have just confirmed their willingness to resolve their problems within Euroland (2) thus contradicting all the Anglo-Saxon media and Euro sceptics’ “forecasts”.     Continue Reading…

Bush, Cheney Rumsfeld and 5 Others Responsible for War Crimes

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Prosecution’s Comment on Decision of KL War Crimes Tribunal – Published on Global Research.ca, by Prof. Gurdial Singh Nijar, June 24, 2012.

PROSECUTION’S COMMENT ON THE DECISION IN KUALA LUMPUR WAR CRIMES TRIBUNAL CASE NO 2: CHIEF PROSECUTOR V BUSH, CHENEY, RUMSFELD & 5 OTHERS: The decision today by the KL War Crimes Tribunal has vindicated the integrity of international law. Its unanimous 5-Judges panel decision has resoundingly – like the 4 decisions of the US Supreme Court – declared that it is not for the President of the US to refashion international humanitarian law to suit the country’s own illegal ends.   Continue Reading…

Egypt: The Regime Demands the Fall of the People

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Published on New Left Project, by Jamie Allinson, June 22, 2012.

To describe the actions of the Supreme Council of the Armed Forces (SCAF) in Egypt during the second round of the presidential elections as a ‘coup’, although an understandable piece of political rhetoric, is not quite accurate. A coup is mounted against an existing ruling group. SCAF are the ruling group in Egypt, and their reversal by fiat of every democratic gain of the 25th January revolution is designed to maintain them in that power. The correct word for this is ‘counter-revolution’.   Continue Reading…

Wall Street’s Protection Racket of Covert Derivatives

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JPMorgan Derivatives Prop Up U.S. Debt: Why the Senate Won’t Touch Jamie Dimon – Published on Global Research.ca, by Ellen Brown, June 20, 2012.

… Interest rate swaps are now over 80 percent of the massive derivatives market, and JPMorgan holds about $57.5 trillion of them.  Without the protective JPMorgan swaps, interest rates on U.S. debt could follow those of Greece and climb to 30%.  CEO Dimon could, then, indeed be “the guy in charge”: he could be controlling the lever propping up the whole U.S. financial system.

Hero or Felon?   Continue Reading…

America’s budget woes: Shift this cliff

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Politicians love postponing problems. America’s budget is a rare case where it makes sense to do so, briefly – Published on The Economist, June 16, 2012.

… Numerous Republicans, Democrats and this newspaper have repeatedly argued that the solution is a grand bargain that raises taxes, preferably through base-broadening reform, and curbs the growth of entitlements (ie, public spending on health care and pensions). This is also the formula that Barack Obama and John Boehner, the leading Republican in the House of Representatives, toyed with last year, before the deal fell apart.   Continue Reading…

New Directions in Monetary Economics: An Interview with Marc Lavoie – Part II

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Published on naked capitalism, interview with Marc Lavoie, professor in the Department of Economics at the University of Ottawa, Interview conducted by Philip Pilkington, June 20, 2012. Part I of this interview.

Philip Pilkington: I think the first part of the interview provides a pretty good sketch of what you and Godley have built in the book – although, obviously, this barely scratches the surface and there is a great deal more than this in the book. Still though, I think readers should be able to grasp the broad aim of the book, at least. If you don’t mind I’d like to move onto some more practical issues. The models set out in the book lead to some very different conclusions than the mainstream models as far as the effects of macroeconomic policy go.  Continue Reading…

Global Order Poised between Promise and Chaos – The Role of China

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Published on Global Research.ca (first on Global Times and on Stop Nato), by Prof. Pang Zhongying, June 19, 2012.

Whatever kind of world…ordered or disordered, a new or the old order, a diversified world or a Western-dominated one, the next five years are still of key importance. It could be the turning point of a new world order. It could also be a key moment for the West to regain the dominant position with all its might. Or perhaps, it will be a transition into a more chaotic world.   Continue Reading…

Economic history: Germany, Greece and the Marshall Plan

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Published on The Economist, by Albrecht Ritschl, June 15, 2012.

… At the end of World War II, Germany nominally owed almost 40% of its 1938 GDP in short-term clearing debt to Europe. Not entirely unlike the ECB’s Target-2 clearing mechanism, this system had been set up at Germany’s central bank, the Reichsbank, as a mere clearing device. But during World War II, almost all of Germany’s trade deficits with Europe were financed through this system, just as most of Southern Europe’s payments deficits towards Germany since 2008 have been financed through Target-2. Incidentally, the amount now is the same, fast approaching 40% of German GDP. Just the signs are reversed. Bad karma, that, isn’t it.  Continue Reading…

Austerity Kills: How the EuroCrisis is Being Used to Break the Social Contract

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Published on naked capitalism, by Yves Smith, JUNE 16, 2012.

One aspect of the Eurocrisis that has not gotten the attention it deserves is the way it is destroying not just jobs, but the very underpinnings of society. People who took actions that were prudent at the time are increasingly at the mercy of forces beyond their control. And this isn’t a tsunami-type disaster but a man-made one whose severity is worsened by the callous attitudes of the European elites.   Continue Reading…

What China’s direct computer link to US Treasury means

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Published on Pambazuka News, Horace Campbell, June 14, 2012.

The fact that China has been given a terminal to buy US debt directly, bypassing Wall Street, must be viewed in the context of the “architecture” of global capitalism which is a product of recent decades of the rise of financial-driven capitalist globalization.

INTRODUCTION:   Continue Reading…

Monday’s storm

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Received by e-mail, From: Will Bates – 350.org, Date: 16/06/2012.

Hey everyone – as world leaders converge in Rio for the “Earth Summit,” HUGE momentum is building for Monday’s social media storm. Check out the email below for more info, and click here to join the social media team. Dear friends, We just crunched the numbers, and there are now over one million people around the world who are calling for an end to fossil fuel subsidies.   Continue Reading…

TZM GLOBAL RADIO, JUNE 13, 2012

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HOST: PETER JOSEPH (THE ZEITGEIST MOVEMENT) – Listen this audio, 90,08 min, uploaded on YouTube on June 13, 2012, by TZMOfficialChannel.

79 Top Tracks in audio by TZMOfficialChannel in autoplay.

Where did all the Euro’s go … (graph)

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Published on RWER Blog, by Erwan Mahe, June 13, 2012.

For the time being I am not commenting on the various bail-out plans in the works (Spain, banking union plan, etc.), not only because of the lack of any officially confirmed details, but because the media is already saturated the topic, especially on the crucial point of the terrible Greek PSI mistake, subordination. The real sticking point for everyone today is the synchronous and atypical downward movement in all euro-denominated assets, be they eurozone government debt instruments or stock markets.   Continue Reading…

Survivre à l’éffondrement économique – Survive to the Global Economic Collapse

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(languages: fr/en/de/es/it/ru/ro):

Capitalism: I Am No Economist, But Here Is My Take

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Published on Dissident Voice, by Adnan Al-Daini, June 12, 2012.

… If we insist that western economies must continue to grow year after year for poor people even to have the basics for life, and since we know that only a little of the wealth created trickles down, then before too long we will end up devouring the whole planet.  Of course, well before we reach that point, we will have degraded our environment to the point where life becomes unsustainable for all of us, rich and poor, and certainly for future generations.   Continue Reading…

Cash Investigation – La Finance Folle

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Voir cette vidéo, 84.34 min, publié sur YouTube le  9 juin 2012 par overdrives.

Links:   Continue Reading…

Greece and the euro: Fifty ways to leave your lover

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Published on Intrepid Report, by Ellen Brown, June 11, 2012.

The Euro appears to be a marriage of incompatible partners. A June 1 article in the UK Telegraph, titled Why Europe’s Love Affair with the European Project Is Ending, reported that two-thirds of 9,000 respondents thought that having the euro as their single currency was a mistake.   Continue Reading…

Osborne wrong again in passing buck to eurozone

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Published on Left Foot forward, by blog owner, by Will Straw, June 10, 2012.

George Osborne makes a familiar argument today, seeking to blame the double dip recession on the eurozone. The truth is the causes of the recession are primarily domestic. In the Sunday Telegraph, the chancellor writes:

Our recovery – already facing powerful headwinds from high oil prices and the debt burden left behind by the boom years – is being killed off by the crisis on our doorstep … //   Continue Reading…

Bringing the Battlefield to the Border

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Published on ZNet (Source: TomDispatch.com), by Todd Miller, June 08, 2012.

… The War on Terror on the Border:

Phoenix was an especially appropriate place for Border Security Expo. After all, the Arizona-Mexico border region is Ground Zero for the development of an immigration enforcement apparatus which soon enough may travel from the southern border to a neighborhood near you.   Continue Reading…

Just how corrupt is Europe?

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New report reveals corruption due to lack of transparency and accountability contributing to the eurozone’s debt crisis

Watch this video, 24.09 min, published on Al Jazeera, June 8, 2012: Anti-corruption watchdog Transparency International (TI) says the close relationships between governments and big businesses are enabling corruption and fuelling the eurozone’s debt crisis. The warning comes in a new report that says poor governance contributed to financial and political scandals in almost every European country during 2011.   Continue Reading…

The global economy: Start the engines, Angela

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The world economy is in grave danger, A lot depends on one woman – Published on The Economist, June 9, 2012.

TO THE lifeboats! That is the stark message bond markets are sending about the global economy. Investors are rushing to buy sovereign bonds in America, Germany and a dwindling number of other “safe” economies. When people are prepared to pay the German government for the privilege of holding its two-year paper, and are willing to lend America’s government funds for a decade for a nominal yield of less than 1.5%, they either expect years of stagnation and deflation or are terrified of imminent disaster. Whichever it is, something is very wrong with the world economy.   Continue Reading…

Financial Collapse At Hand: When is Sooner or Later?

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Published on Global Research.ca, by Dr. Paul Craig Roberts, June 5, 2012. (See Paul Craig Roberts, USA also on World People’s Blog).

Ever since the beginning of the financial crisis and Quantitative Easing, the question has been before us: How can the Federal Reserve maintain zero interest rates for banks and negative real interest rates for savers and bond holders when the US government is adding $1.5 trillion to the national debt every year via its budget deficits? Not long ago the Fed announced that it was going to continue this policy for another 2 or 3 years. Indeed, the Fed is locked into the policy.   Continue Reading…

Towards a Global Economic Slowdown: Stock Market Slide, Declining GDP, Rising Unemployment

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Published on Global Research.ca, by Mike Whitney, June 5, 2012. (See also Mike Whitney, USA (the American writer).

… The European Commission and the ECB have been unable to stop the bank runs because there is no euro-wide deposit insurance. So, when depositors begin to doubt their country’s future in the EZ, they withdraw their savings and move it to a safer location, like Germany. Here’s more from Reuters:   Continue Reading…

Breakaway or breakup?

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Published on VOXeu.org, by Marco Annunziata, June 1, 2012.

There was a time when Greek exit from the Eurozone seemed implausible – now the prospect is so openly discussed that it even has its own word: Grexit. But amid the media frenzy, we should remind ourselves that single-country breakaway is not the same as a Eurozone breakup. This column discusses the steps to ensure that the former does not imply the latter. It urges leaders to take them quickly.   Continue Reading…

Out of the mouths of babes

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12-year-old money reformer tops a million views – First watch this video: Victoria Grant, 6.44 min on YouTube, then the article published on Intrepid Report, by Ellen Brown, June 1, 2012.

The YouTube video of 12-year-old Victoria Grant speaking at the Public Banking in America conference in April has gone viral, topping a million views on various websites. Monetary reform—the contention that governments, not banks, should create and lend a nation’s money—has rarely even made the news, so this is a first. Either the times they are a’changin,’ or Victoria managed to frame the message in a way that was so simple and clear that even a child could understand it.  Continue Reading…

… and now what? …

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Watch these videos on YouTube:

the former Zeitgeist films (2007 + 2008):  Continue Reading…

Montreal: Welcome to the Revolution

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Watch this video, 13.09 min, on Global Rersearch TV, by Bryan Law and Eric Bouthillette, June 1, 2012. (Find it also on YouTube).

Bryan Law of Press For Truth travels to Montreal, Quebec to cover the student protests which have lasted for over 100 days. With recent negotiations breaking down again between the student unions and the government, there seems to be no end in sight for the protests. The recent passage of Bill 78, a law that limits protests and free speech rights in Quebec, has turned the protests from being just about tuition fees, to a fight for civil liberties.   Continue Reading…

GLOBAL FINANCIAL MELTDOWN: Convergence of 4 Explosive Factors

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Banks, Stock Exchanges, Pension Funds, Debts – Sovereign debt & deadly private debt.. $30 trillion of phantom assets – Published on Global Research.ca (first on GEAB no. 65 – 2012-05-16), May 31, 2012.

… Debts: difficult to manage sovereign debt and deadly private debt … creditors painfully approach the day of reckoning and people an explosion of anger.

LEAP/E2020 announced it in 2008 and repeated it many times since. There was approximately 30 trillion USD of phantom assets in the world financial system of which about 15 trillion USD remains, which will mostly fly off by the end of 2012. The good news is that as from then, one can seriously contemplate the rebuilding of a healthy world financial system.    Continue Reading…

The Irish Slave Trade: The Forgotten White Slaves – The Slaves That Time Forgot

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Published on Global Research.ca (first on OpEdNews), by John Martin, May 28, 2012.

… We don’t really need to go through all of the gory details, do we? We know all too well the atrocities of the African slave trade. But, are we talking about African slavery? King James II and Charles I also led a continued effort to enslave the Irish. Britain’s famed Oliver Cromwell furthered this practice of dehumanizing one’s next door neighbor.

The Irish slave trade began when James II sold 30,000 Irish prisoners as slaves to the New World. His Proclamation of 1625 required Irish political prisoners be sent overseas and sold to English settlers in the West Indies. By the mid 1600s, the Irish were the main slaves sold to Antigua and Montserrat. At that time, 70% of the total population of Montserrat were Irish slaves. Ireland quickly became the biggest source of human livestock for English merchants. The majority of the early slaves to the New World were actually white.  Continue Reading…