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Gold and Silver • Canadian Broadcasting Corp. to air ‘The Secret World of Gold

Canadian Broadcasting Corp. to air ‘The Secret World of Gold’

http://www.24hgold.com/english/news-gol … ris+Powell

Gold and the mysteries about its trading will be the subject of a documentary to be broadcast by the Canadian Broadcasting Corp. on Thursday, April 18.

The documentary, "The Secret World of Gold," will be broadcast on CBC’s premier investigative program, "Doc Zone," and it seems to have a clue about market manipulation.

The CBC’s announcement of the program says in part: "Some claim that much of the gold held by the Bank of Canada, the Bank of England, the Federal Reserve, and Fort Knox is gone — that for every 100 ounces of gold traded, there exists only 1 ounce of real, physical gold. So where is the gold — and who really owns it?"

We don’t yet know how accessible this documentary will be outside Canada but we hope that it eventually will be accessible worldwide and we’ll keep you posted about it.

CBC’s announcement of "The Secret World of Gold" is posted at the network’s Internet site here:

http://www.cbc.ca/doczone/episode/the-s … -gold.html

The Secret World of Gold

Thursday, April 18, 2013 at 9:00 p.m. on CBC-TV

The Secret World of Gold is a documentary exploring the power and politics of gold, a precious metal with more allure and fascination than any other. Valued for its permanence, beauty and scarcity, people will lie, cheat, steal and kill in the name of gold.

To finance the Third Reich, the Nazis went after the gold of Europe. Allied countries stored their gold offshore to keep it safe. In the first months of the Second World War, the gold of England and France was secretly shipped to vaults in Montreal, Ottawa and New York.

Those ships made it safely to port, but throughout history, many were not so lucky. It is estimated that worldwide, 3 million shipwrecks loaded with treasure lie at the bottom of the ocean. Odyssey Marine, an American company listed on the NASDAQ stock exchange, spends huge amounts of money to search for that gold. But there’s always the risk they will have to hand it over to countries claiming ownership.

In recent years, economic uncertainty is giving gold a new lustre in the world of high finance. Whether it’s a few gold coins or gold bars stored in one of the many vaults around the world, many investors are taking a shine to gold. But there’s not a lot of it. It is said that, even melted down, there would not be enough to fill an Olympic swimming pool.

Some claim that much of the gold held by the Bank of Canada, the Bank of England, the Federal Reserve and Fort Knox is gone — that for every 100 ounces of gold traded, there exists only one ounce of real, physical gold. So, where is the gold — and who really owns it?

Directed by Brian McKenna for Galafilm with CBC-TV.

Statistics: Posted by DIGGER DAN — Sat Apr 13, 2013 3:23 am


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War and Conflict • A secret deal on drones, sealed in blood

A secret deal on drones, sealed in blood
The CIA has conducted hundreds of drone strikes in Pakistan that have killed thousands of people, Pakistanis and Arabs, militants and civilians alike.

KIRSTY WIGGLESWORTH / AP
In this Jan. 31, 2010 file photo, an unmanned U.S. Predator drone flies over Kandahar Air Field, southern Afghanistan.

By: Mark Mazzetti The New York Times, Published on Sun Apr 07 2013

Nek Muhammad knew he was being followed.
On a hot day in June 2004, the Pashtun tribesman was lounging inside a mud compound in South Waziristan, speaking by satellite phone to one of the many reporters who regularly interviewed him on how he had fought and humbled Pakistan’s army in the country’s western mountains. He asked one of his followers about the strange, metallic bird hovering above him.
Less than 24 hours later, a missile tore through the compound, severing Muhammad’s left leg and killing him and several others, including two boys, ages 10 and 16. A Pakistani military spokesman was quick to claim responsibility for the attack, saying that Pakistani forces had fired at the compound.
That was a lie.
Muhammad and his followers had been killed by the CIA, the first time it had deployed a Predator drone in Pakistan to carry out a “targeted killing.” The target was not a top operative of Al Qaeda, but a Pakistani ally of the Taliban who led a tribal rebellion and was marked by Pakistan as an enemy of the state.
In a secret deal, the CIA had agreed to kill him in exchange for access to airspace it had long sought so it could use drones to hunt down its own enemies.
RELATED:Memo spells out when it’s OK to kill Al Qaeda-linked Americans without trial
That back-room bargain, described in detail for the first time in interviews with more than a dozen officials in Pakistan and the United States, is critical to understanding the origins of a covert drone war that began under the Bush administration, was embraced and expanded by President Barack Obama, and is now the subject of fierce debate.
The deal, a month after a blistering internal report about abuses in the CIA’s network of secret prisons, paved the way for the CIA to change its focus from capturing terrorists to killing them, and helped transform an agency that began as a cold war espionage service into a paramilitary organization.
The CIA has since conducted hundreds of drone strikes in Pakistan that have killed thousands of people, Pakistanis and Arabs, militants and civilians alike. While it was not the first country where the United States used drones, it became the laboratory for the targeted killing operations that have come to define a new American way of fighting, blurring the line between soldiers and spies and short-circuiting the normal mechanisms by which the United States as a nation goes to war.
Neither American nor Pakistani officials have ever publicly acknowledged what really happened to Muhammad – details of the strike that killed him, along with those of other secret strikes, are still hidden in classified government databases. But in recent months, calls for transparency from members of Congress and critics on both the right and left have put pressure on Obama and his new CIA director, John O. Brennan, to offer a fuller explanation of the goals and operation of the drone program, and of the agency’s role.
Brennan, who began his career at the CIA and over the past four years oversaw an escalation of drone strikes from his office at the White House, has signalled that he hopes to return the agency to its traditional role of intelligence collection and analysis. But with a generation of CIA officers now fully engaged in a new mission, it is an effort that could take years.
Today, even some of the people who were present at the creation of the drone program think the agency should have long given up targeted killings.
Ross Newland, who was a senior official at the CIA’s headquarters in Langley, Va., when the agency was given the authority to kill Al Qaeda operatives, says he thinks that the agency had grown too comfortable with remote-control killing, and that drones have turned the CIA into the villain in countries like Pakistan, where it should be nurturing relationships in order to gather intelligence.
As he puts it, “This is just not an intelligence mission.”
FROM CAR THIEF TO MILITANT
By 2004, Muhammad had become the undisputed star of the tribal areas, the fierce mountain lands populated by the Wazirs, Mehsuds and other Pashtun tribes who for decades had lived independent of the writ of the central government in Islamabad. A brash member of the Wazir tribe, Muhammad had raised an army to fight government troops and had forced the government into negotiations. He saw no cause for loyalty to the Directorate of Inter-Services Intelligence, the Pakistani military spy service that had given an earlier generation of Pashtuns support during the war against the Soviets.
Many Pakistanis in the tribal areas viewed with disdain the alliance that President Pervez Musharraf had forged with the United States after the Sept. 11, 2001, attacks. They regarded the Pakistani military that had entered the tribal areas as no different from the Americans – who they believed had begun a war of aggression in Afghanistan, just as the Soviets had years earlier.
Born near Wana, the bustling market hub of South Waziristan, Muhammad spent his adolescent years as a petty car thief and shopkeeper in the city’s bazaar. He found his calling in 1993, around the age of 18, when he was recruited to fight with the Taliban in Afghanistan, and rose quickly through the group’s military hierarchy. He cut a striking figure on the battlefield with his long face and flowing jet black hair.
When the Americans invaded Afghanistan in 2001, he seized an opportunity to host the Arab and Chechen fighters from Al Qaeda who crossed into Pakistan to escape the American bombing.
For Muhammad, it was partly a way to make money, but he also saw another use for the arriving fighters. With their help, over the next two years he launched a string of attacks on Pakistani military installations and on American firebases in Afghanistan.
CIA officers in Islamabad urged Pakistani spies to lean on the Waziri tribesman to hand over the foreign fighters, but under Pashtun tribal customs that would be treachery. Reluctantly, Musharraf ordered his troops into the forbidding mountains to deliver rough justice to Muhammad and his fighters, hoping the operation might put a stop to the attacks on Pakistani soil, including two attempts on his life in December 2003.
But it was only the beginning. In March 2004, Pakistani helicopter gunships and artillery pounded Wana and its surrounding villages. Government troops shelled pickup trucks that were carrying civilians away from the fighting and destroyed the compounds of tribesmen suspected of harboring foreign fighters. The Pakistani commander declared the operation an unqualified success, but for Islamabad, it had not been worth the cost in casualties.
A ceasefire was negotiated in April during a hastily arranged meeting in South Waziristan, during which a senior Pakistani commander hung a garland of bright flowers around Muhammad’s neck. The two men sat together and sipped tea as photographers and television cameras recorded the event.
Both sides spoke of peace, but there was little doubt who was negotiating from strength. Muhammad would later brag that the government had agreed to meet inside a religious madrasa rather than in a public location where tribal meetings are traditionally held. “I did not go to them; they came to my place,” he said. “That should make it clear who surrendered to whom.”
The peace arrangement propelled Muhammad to new fame, and the truce was soon exposed as a sham. He resumed attacks against Pakistani troops, and Musharraf ordered his army back on the offensive in South Waziristan.
Pakistani officials had, for several years, balked at the idea of allowing armed CIA Predators to roam their skies. They considered drone flights a violation of sovereignty, and worried that they would invite further criticism of Musharraf as being Washington’s lackey. But Muhammad’s rise to power forced them to reconsider.
The CIA had been monitoring the rise of Muhammad but officials considered him to be more Pakistan’s problem than America’s. In Washington, officials were watching with growing alarm the gathering of Al Qaeda operatives in the tribal areas, and George J. Tenet, the CIA director, authorized officers in the agency’s Islamabad station to push Pakistani officials to allow armed drones. Negotiations were handled primarily by the Islamabad station.
As the battles raged in South Waziristan, the station chief in Islamabad paid a visit to Gen. Ehsan ul Haq, the ISI chief, and made an offer: If the CIA killed Muhammad, would the ISI allow regular armed drone flights over the tribal areas?
In secret negotiations, the terms of the bargain were set. Pakistani intelligence officials insisted that they be allowed to approve each drone strike, giving them tight control over the list of targets. And, they insisted that drones fly only in narrow parts of the tribal areas – ensuring that they would not venture where Islamabad did not want the Americans going: Pakistan’s nuclear facilities, and the mountain camps where Kashmiri militants were trained for attacks in India.
The ISI and the CIA agreed that all drone flights in Pakistan would operate under the CIA’s covert action authority – meaning that the United States would never acknowledge the missile strikes and that Pakistan would either take credit for the individual killings or remain silent.
Musharraf did not think that it would be difficult to keep up the ruse. As he told one CIA officer: “In Pakistan, things fall out of the sky all the time.”
A NEW DIRECTION
As the negotiations were taking place, the CIA’s inspector general, John L. Helgerson, had just finished a searing report about the abuse of detainees in the CIA’s secret prisons. The report kicked out the foundation upon which the CIA detention and interrogation program had rested. It was perhaps the single most important reason for the CIA’s shift from capturing to killing terrorism suspects.
The greatest impact of Helgerson’s report was felt at the CIA’s Counterterrorism Center, or CTC, which was at the vanguard of the agency’s global antiterrorism operation. The centre had focused on capturing Al Qaeda operatives; questioning them in CIA jails or outsourcing interrogations to the spy services of Pakistan, Jordan, Egypt and other nations; and then using the information to hunt more terrorism suspects.
Helgerson raised questions about whether CIA officers might face criminal prosecution for the interrogations carried out in the secret prisons, and he suggested that interrogation methods like waterboarding, sleep deprivation and the exploiting of the phobias of prisoners – like confining them in a small box with live bugs – violated the United Nations Convention Against Torture.
“The agency faces potentially serious long-term political and legal challenges as a result of the CTC detention and interrogation program,” the report concluded, given the brutality of the interrogation techniques and the “inability of the U.S. government to decide what it will ultimately do with the terrorists detained by the agency.”
The report was the beginning of the end for the program. The prisons would stay open for several more years, and new detainees were occasionally picked up and taken to secret sites, but at Langley, senior CIA officers began looking for an endgame to the prison program. One CIA operative told Helgerson’s team that officers from the agency might one day wind up on a “wanted list” and be tried for war crimes in an international court.
The ground had shifted, and counterterrorism officials began to rethink the strategy for the secret war. Armed drones, and targeted killings in general, offered a new direction. Killing by remote control was the antithesis of the dirty, intimate work of interrogation. Targeted killings were cheered by Republicans and Democrats alike, and using drones flown by pilots who were stationed thousands of miles away made the whole strategy seem risk-free.
Before long the CIA would go from being the long-term jailer of America’s enemies to a military organization that erased them.
Not long before, the agency had been deeply ambivalent about drone warfare.
The Predator had been considered a blunt and unsophisticated killing tool, and many at the CIA were glad that the agency had gotten out of the assassination business long ago. Three years before Muhammad’s death, and one year before the CIA carried out its first targeted killing outside a war zone – in Yemen in 2002 – a debate raged over the legality and morality of using drones to kill suspected terrorists.
A new generation of CIA officers had ascended to leadership positions, having joined the agency after the 1975 congressional committee led by Sen. Frank Church, D-Idaho, which revealed extensive CIA plots to kill foreign leaders, and President Gerald Ford’s subsequent ban on assassinations. The rise to power of this post-Church generation had a direct impact on the type of clandestine operations the CIA chose to conduct.
The debate pitted a group of senior officers at the Counterterrorism Center against James L. Pavitt, the head of the CIA’s clandestine service, and others who worried about the repercussions of the agency’s getting back into assassinations. Tenet told the 9/11 commission that he was not sure that a spy agency should be flying armed drones.
John E. McLaughlin, then the CIA’s deputy director, who the 9/11 commission reported had raised concerns about the CIA’s being in charge of the Predator, said: ‘‘You can’t underestimate the cultural change that comes with gaining lethal authority.
“When people say to me, ‘It’s not a big deal,”’ he said, ‘‘I say to them, ‘Have you ever killed anyone?’
“It is a big deal. You start thinking about things differently,” he added. But after the Sept. 11 attacks, these concerns about the use of the CIA to kill were quickly swept aside.
THE ACCOUNT AT THE TIME
After Muhammad was killed, his dirt grave in South Waziristan became a site of pilgrimage. A Pakistani journalist, Zahid Hussain, visited it days after the drone strike and saw a makeshift sign displayed on the grave: “He lived and died like a true Pashtun.”
Maj. Gen. Shaukat Sultan, Pakistan’s top military spokesman, told reporters at the time that “Al Qaeda facilitator” Nek Muhammad and four other “militants” had been killed in a rocket attack by Pakistani troops.
Any suggestion that Muhammad was killed by the Americans, or with American assistance, he said, was “absolutely absurd.”
This article is adapted from “The Way of the Knife: The CIA, a Secret Army, and a War at the Ends of the Earth,” to be published by Penguin Press on Tuesday.

http://www.thestar.com/news/world/2013/ … blood.html

Statistics: Posted by yoda — Sun Apr 07, 2013 10:45 am


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Enviromental News • Potential Cost Of A Nuclear Accident? So High It’s A Secret

Potential Cost Of A Nuclear Accident? So High It’s A Secret!
WEDNESDAY, MARCH 13, 2013 AT 5:37PM
Catastrophic nuclear accidents, like Chernobyl in 1986 or Fukushima No. 1 in 2011, are, we’re incessantly told, very rare, and their probability of occurring infinitesimal. But when they do occur, they get costly. So costly that the French government, when it came up with cost estimates for an accident in France, kept them secret.

But now the report was leaked to the French magazine, Le Journal de Dimanche. Turns out, the upper end of the cost spectrum of an accident at the nuclear power plant at Dampierre, in the Department of Loiret in north-central France, amounted to over three times the country’s GDP.

Hence, the need to keep it secret. The study was done in 2007 by the Institute for Radiological Protection and Nuclear Safety (IRSN), a government agency under joint authority of the Ministry of Defense and the Ministry of Environment, Industry, Research, and Health. With over 1,700 employees, it’s France’s “public service expert in nuclear and radiation risks.” This isn’t some overambitious, publicity-hungry think tank.

It evaluated a range of disaster scenarios that might occur at the Dampierre plant. In the best-case scenario, costs came to €760 billion—more than a third of France’s GDP. At the other end of the spectrum: €5.8 trillion! Over three times France’s GDP. A devastating amount. So large that France could not possibly deal with it.

Yet, France gets 75% of its electricity from nuclear power. The entire nuclear sector is controlled by the state, which also owns 85% of EDF, the mega-utility that operates France’s 58 active nuclear reactors spread over 20 plants. So, three weeks ago, the Institute released a more politically correct report for public consumption. It pegged the cost of an accident at €430 billion.

“There was no political smoothening, no pressure,” claimed IRSN Director General Jacques Repussard, but he admitted, “it’s difficult to publish these kinds of numbers.” He said the original report with a price tag of €5.8 trillion was designed to counter the reports that EDF had fabricated, which “very seriously underestimated the costs of the incidents.”

Both reports were authored by IRSN economist Patrick Momal, who struggled to explain away the differences. The new number, €430 billion, was based on a “median case” of radioactive releases, as was the case in Fukushima, he told the JDD, while the calculations of 2007 were based more on what happened at Chernobyl. But then he added that even the low end of the original report, the €760 billion, when updated with the impact on tourism and exports, would jump to €1 trillion.

“One trillion, that’s what Fukushima will ultimately cost,” Repussard said.

Part of the €5.8 trillion would be the “astronomical social costs due to the high number of victims,” the report stated. The region contaminated by cesium 137 would cover much of France and Switzerland, all of Belgium and the Netherlands, and a big part of Germany—an area with 90 million people (map). The costs incurred by farmers, employees, and companies, the environmental damage and healthcare expenses would amount to €4.4 trillion.

“Those are social costs, but the victims may not necessarily be compensated,” the report stated ominously—because there would be no entity in France that could disburse those kinds of amounts.

Closer to the plant, 5 million people would have to be evacuated from an area of 87,000 square kilometers (about 12% of France) and resettled. The soil would have to be decontaminated, and radioactive waste would have to be treated and disposed of. Total cost: €475 billion.

The weather is the big unknown. Yet it’s crucial in any cost calculations. Winds blowing toward populated areas would create the worst-case scenario of €5.8 trillion. Amidst the horrible disaster of Fukushima, Japan was nevertheless lucky in one huge aspect: winds pushed 80% of the radioactive cloud out to sea. If it had swept over Tokyo, the disaster would have been unimaginable. In Chernobyl, winds made the situation worse; they spread the cloud over the Soviet Union.

Yet the study might underestimate the cost for other nuclear power plants. The region around Dampierre has a lower population density than regions around other nuclear power plants. And it rarely has winds that would blow the radioactive cloud in a northerly direction toward Paris. Other nuclear power plants aren’t so fortuitously located.

These incidents have almost no probability of occurring, we’re told. So there are currently 437 active nuclear power reactors and 144 “permanent shutdown reactors” in 31 countries, according to the IAEA, for a total of 581 active and inactive reactors. Of these, four melted down so far—one at Chernobyl and three at Fukushima. Hence, the probability for a meltdown is not infinitesimal. Based on six decades of history, it’s 4 out of 581, or 0.7%. One out of every 145 reactors. Another 67 are under construction, and more are to come….

Decommissioning and dismantling the powerplant at Fukushima and disposing of the radioactive debris has now been estimated to take 40 years. At this point, two years after the accident, very little has been solved. But it has already cost an enormous amount of money. People who weren’t even born at the time of the accident will be handed the tab for it. And the ultimate cost might never be known.

The mayor of Futaba, a ghost town of once upon a time 7,000 souls near Fukushima No. 1, told his staff that evacuees might not be able to return for 30 years. Or never, for the older generation. It was the first estimate of a timeframe. But it all depends on successful decontamination. And that has turned into a vicious corruption scandal

http://www.testosteronepit.com/home/201 … ecret.html

Statistics: Posted by yoda — Wed Mar 13, 2013 9:53 pm


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Gold and Silver • The secret bull market in gold

The secret bull market in gold

http://www.marketwatch.com/story/the-se … 2013-03-06

You won’t hear about it in the usual places. Everywhere you turn these days, all you hear is that gold is down, it’s finished, it’s heading for something called a “death cross,” which sounds terrifying. But away from the headlines, gold just rocketed to a new, all-time high.

Where? In Japan — the world’s fourth largest economy.

The arrival of a new government in December, and the launch of Japan’s own brand of “quantitative easing,” or money printing, has sent the yen tumbling dramatically on the international exchanges. Lots more yen means each yen is worth less.

An ounce of gold, which sold for 125,000 yen as recently as last July, now sells for 145,000. It touched 155,000, an all-time record, early in February.

Those Japanese who dumped their yen in the past couple of years and stocked up on gold are probably feeling pretty good at this point.

Gold has rocketed up 36% in yen in two years. So much for the collapse in gold.

And this isn’t an isolated case. In recent months, gold also hit new highs in other countries, including Brazil, Iceland and India.

Look at Argentina. I’ll leave it to others to comment on the presidency of Cristina Fernandez de Kirchner. As I’m in the news business, allow me to be candid and say that at least she is entertaining and ensures that those of us who scribble for a living won’t run short of things to write about.

Any Argentines who dumped their pesos when she first became president, in 2007, and loaded up on bullion instead are probably very, very relieved. Gold has more than tripled since then, when measured in pesos. It is up 45% just in the past two years, recently hitting record highs.

It is looking pretty healthy to a lot of people in London about now, too. The British pound has been slumping after economic data came in worse than expected. The traditional response is, “Oh, that’s just because their currencies are down.” Er, yes. That’s like saying demand for umbrellas has only gone up because it’s raining.

Japan is deliberately driving down its currency to boost its economy.

This is a zero-sum game: It can only work by boosting your economy versus other countries, whose currencies thereby become more expensive. At some point, they are apt to respond.

I’m gold-agnostic. I think it’s a ridiculous currency. I just accept that the others may well be worse. Gold is the only currency no country can just print incessantly in order to boost its economy.

(Incidentally, there are two other arguments in favor of gold. The first is that the Chinese Central Bank is surely going to increase its holdings. It makes no sense for the Chinese to hold their reserves in dollars and euros, two assets that their chief rivals can devalue at will. The second is that gold is now the only financial asset that still accords privacy. Everything else is being monitored.)

Worried about inflation? Hedge with gold
The prospect of inflation in Japan as the yen weakens may prompt people to turn to gold as a currency hedge. The WSJ’s Clementine Wallop talks about what to expect from gold demand in India and China as well as Japan.

I have to say I am somewhat baffled by the latest outpouring of bullishness and unfettered optimism. Things were never as bad as they seemed at the bottom, but they are hardy A-OK now. The entire economic recovery has been built on the back of record federal budget deficits and record money printing by the Federal Reserve.

This is financial engineering.

The latest sequestration fiasco shows that the only institution left which can actually govern is the Fed. It’s all down to Fed chief Ben Bernanke. And if deficits come down, there is every reason to suspect he may have to keep printing.

We do not have much inflation at the moment, except in financial assets. But it would be a brave person who could say confidently that we won’t get any down the road.

Gold, famously, is a hedge against inflation. This is why some very sensible people suggest you should always have a few percent of your portfolio in gold, as insurance.

As the Japanese — and Argentines — could tell you.

Brett Arends is a MarketWatch columnist. Follow him on Twitter @BrettArends.

Statistics: Posted by DIGGER DAN — Sun Mar 10, 2013 4:16 am


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American • Secret Obama Group Won’t Disclose Secret Meeting Location

Secret Obama Group Won’t Disclose Secret Meeting Location
Wealthy donors to Organizing for Action meet in undisclosed hotel

Jim Messina / AP

BY: Lachlan Markay
March 7, 2013 11:03 am

A controversial dark money group recently created to promote Democratic policies and officials has refused to disclose the location of a secretive donor meeting it will hold in Washington, D.C., next week.

Organizing for Action (OFA), a 501(c)(4) advocacy group created by President Barack Obama’s former campaign manager, will hold an event called the “founders summit” in a Washington hotel on Wednesday, March 13, according to an NPR report.

According to the New York Times, donors will pay $50,000 to attend the event, where they can brush shoulders with OFA chair Jim Messina and Jon Carson, the group’s executive director and the former director of the White House Office of Public Engagement.

For $500,000, donors will enjoy a spot on OFA’s national advisory board, which gives them direct access to the president and other top administration officials. Government watchdog groups have blasted the scheme as a transparent pay-to-play arrangement.

Organizing for Action staff have ignored or rebuffed numerous requests for additional information about the founders summit.

Staff at the organization’s downtown Washington, D.C., office would not answer questions about the event. Multiple attempts to reach OFA spokesperson Katie Hogan at a phone number provided by office staff were unsuccessful. Hogan also did not reply to multiple emails.

Their refusal to disclose information on the event coincided with attempts by OFA to reassure critics that the organization will be transparent and ethical. Messina has rejected claims it will allow wealthy individuals to influence administration policy.

The group’s advisory board meetings, Messina wrote in a CNN article, “are not opportunities to lobby—they are briefings on the positions the president has taken and the status of seeing them through.”

Messina also claimed the group would not accept donations from corporations or lobbyists, though the president has made similar promises about lobbyists in the past.

OFA appears to be part of a renewed advocacy push by left-wing groups, many of which are backed by corporate dollars.

Business Forward, a left-wing group whose major corporate donors enjoy access to administration officials, invited business representatives to an unveiling event for OFA in January.

“For the next few years, there will be much more alignment between the business community and the administration,” Business Forward president Jim Doyle told Time’s Swampland blog.

Messina’s insistence that OFA will refuse corporate contributions also leaves the group with ample opportunities for financing through the nation’s largest labor unions, which he excluded from the list of groups that will be barred from donating to OFA.

Democrats have attempted to restrict or more heavily regulate political activity by corporations and nonprofit groups, but have largely excluded unions, which donate almost uniformly to Democrats, from demands for greater disclosure or spending restrictions.

That loophole is underscored by OFA’s apparently close relationship with the nation’s largest teachers’ union. The group’s office is located on the fourth floor the National Education Association’s Washington D.C. headquarters, in an office labeled “National Membership Strategy.”

The NEA did not respond to multiple requests for information on the nature of its arrangement or cooperation with OFA.

http://freebeacon.com/secret-obama-grou … -location/

Statistics: Posted by yoda — Thu Mar 07, 2013 12:24 pm


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Secret Spying and the Supreme Court’s Constitutional Catch-22

Julian Sanchez

The memory of the abuses perpetrated by colonial officials wielding “general warrants” inspired the framers of our Constitution’s Fourth Amendment to constrain the government’s power to invade citizens’ privacy. With today’s 5-4 ruling in Clapper v. Amnesty International, the Supreme Court has announced that the modern equivalent of those general warrants—dragnet surveillance “authorizations” under the FISA Amendments Act—will be effectively immune from Fourth Amendment challenge.

The FAA permits the government to secretly vacuum up Americans’ international communications on a massive scale, without any individualized suspicion—and at least some of that surveillance has already been determined to have violated the constitution by a secret intelligence court. Yet today’s majority has all but guaranteed no court will be able to review the constitutionality of the law as a whole by imposing a perverse Catch-22: Even citizens at the highest risk of being wiretapped may not bring a challenge without proof they’re in the government’s vast database. The only problem is the government is never required to reveal who has been spied on.

In essence, the Court has said that even if the law is unconstitutional, even if it has violated the Fourth Amendment rights of thousands of Americans, there’s no realistic way to get a court to say so.

Precisely when secrecy shields the government from public political accountability, the Clapper ruling announces, the Constitution is powerless to protect us as well.

I’ll have a more detailed analysis of the ruling (and dissent) tomorrow.

View full post on Cato @ Liberty

How a Secret Mortgage Settlement with the Banks Actually Saves the Banks Billions

The big banks and the government have become one. Regulation has been completely captured and now banks and government do what is little more than a PR dance for the public whenever anything goes wrong.

Freddie and Fannie completely destabilize the economy? Still owe the taxpayers of the US $180 billion? Ok, we’ll wind them down. Er, I mean give them more power and more money.

Countrywide gave sweetheart deals to members of Congress? Nothing to see here.

Goldman Sachs was leveraged 50 to 1? Shorted the CDO market with its own money while encouraging clients to play the long side? No big deal. Lloyd Blankfein is a friend of the president. The Goldman guys aren’t such a bad lot. Let’s give them billions in taxpayer dollars so they can pay themselves enormous bonuses.

JP Morgan evaporates $2 billion through what appears to be “unethical” trading? Just bring the CEO to Washington for a photo op. We’ll tell him how great he is even though this horrible and completely unforeseen event happened. We’ll tell him to be more careful. Then he can show us his presidential cufflinks at drinks later.

Blow up a hedge fund and take client money to pay your creditors even though this is completely illegal? That’s OK, Mr. Corzine was both a senator and a governor, and a good earner on top of that. We can’t send him to jail. Exile in the Hamptons is penalty enough.

And it goes on and on.

So when we hear that the big banks are going to settle on mortgage fraud issues in such a way that it makes the administration look good, without sending anyone to jail, while also saving the big banks billions on the necessary review of mortgage files, we should not be surprised. It’s a win, win, win.

It’s a lose, lose, lose, for the American people. But let’s be honest, most of them don’t have 2 dimes to rub together.

(From The Washington Examiner)

Based on figures in the Times report, initial estimates suggested that the review would cost $8 billion, but “the costs of the reviews have ballooned” such that it could cost $20 million if it were to be carried out. And that’s just the cost of the review — it doesn’t account for what the banks would then have to do to ameliorate any problems uncovered by the review.

Click here for the article.

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How a Secret Mortgage Settlement with the Banks Actually Saves the Banks Billions

The big banks and the government have become one. Regulation has been completely captured and now banks and government do what is little more than a PR dance for the public whenever anything goes wrong.

Freddie and Fannie completely destabilize the economy? Still owe the taxpayers of the US $180 billion? Ok, we’ll wind them down. Er, I mean give them more power and more money.

Countrywide gave sweetheart deals to members of Congress? Nothing to see here.

Goldman Sachs was leveraged 50 to 1? Shorted the CDO market with its own money while encouraging clients to play the long side? No big deal. Lloyd Blankfein is a friend of the president. The Goldman guys aren’t such a bad lot. Let’s give them billions in taxpayer dollars so they can pay themselves enormous bonuses.

JP Morgan evaporates $2 billion through what appears to be “unethical” trading? Just bring the CEO to Washington for a photo op. We’ll tell him how great he is even though this horrible and completely unforeseen event happened. We’ll tell him to be more careful. Then he can show us his presidential cufflinks at drinks later.

Blow up a hedge fund and take client money to pay your creditors even though this is completely illegal? That’s OK, Mr. Corzine was both a senator and a governor, and a good earner on top of that. We can’t send him to jail. Exile in the Hamptons is penalty enough.

And it goes on and on.

So when we hear that the big banks are going to settle on mortgage fraud issues in such a way that it makes the administration look good, without sending anyone to jail, while also saving the big banks billions on the necessary review of mortgage files, we should not be surprised. It’s a win, win, win.

It’s a lose, lose, lose, for the American people. But let’s be honest, most of them don’t have 2 dimes to rub together.

(From The Washington Examiner)

Based on figures in the Times report, initial estimates suggested that the review would cost $8 billion, but “the costs of the reviews have ballooned” such that it could cost $20 million if it were to be carried out. And that’s just the cost of the review — it doesn’t account for what the banks would then have to do to ameliorate any problems uncovered by the review.

Click here for the article.

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International News • Schäuble’s Secret Austerity Plan for Germany

Schäuble’s Secret Austerity Plan for Germany

By Christian Reiermann and Michael Sauga

DPA
The German government and opposition are pledging higher benefits for pensioners, families and the long-term unemployed ahead of elections next year, but Finance Minister Wolfgang Schäuble is secretly planning cutbacks to prepare for a weakening economy and possible fallout from the euro crisis.

German Finance Minister Wolfgang Schäuble has an inimitable way of misleading his listeners with a torrent of obfuscating words. When asked if the Greek bailout would cost more money, he responded: "Not necessarily," adding that there was merely "a greater financial requirement on the timeline."

ANZEIGE

It could soon be a similar story with yet another gem from Schäuble’s repertoire of quotations. "Germany is clearly a gainer from the euro," as the minister likes to say. But if what his team has been writing over the past few weeks is true, Germans will soon find that their presumed winnings have transformed into losses.The government in Berlin is living in a dual reality. Strategists in the center-right coaliton parties are planning to enhance benefits for families, pensioners and the long-term unemployed in a bid to woo voters in the upcoming elections.
By contrast, due to the economic slowdown, experts in Schäuble’s ministry are anticipating an entirely different scenario: The next government — no matter who will be chancellor and which parties will be in power — won’t be able to boost spending. Instead, it will have to impose rigorous spending restraint.

According to the recommendations made by Schäuble’s team, in order to brace itself for the consequences of the euro crisis, Germany will have to drastically increase taxes and make painful cuts in social services over the coming years.

These ideas don’t fit with the current political climate in Germany, which has been characterized for months by a passionate debate about how additional money could be used to combat poverty among the elderly and improve life for low-wage earners. Schäuble nevertheless feels that his experts’ forecasts are realistic. He has expressly approved their proposals and ordered them to continue to work on the cost-cutting program. At the same time, he has ordered strict secrecy to avoid any adverse effects on his party’s campaigns for the upcoming state election in Lower Saxony in January and the general election in the fall of 2013.

The Germans face a bitter déjà vu. It was only 10 years ago that then-Chancellor Gerhard Schröder of the center-left Social Democrats (SPD) and his conservative challenger Edmund Stoiber fought an election campaign that was primarily focused on social justice. After Schröder’s victory, it became clear that Germany was strapped for cash. Subsequently, the chancellor introduced his radical — and widely unpopular — "Agenda 2010" reforms of the labor market and welfare system. This time, Schäuble’s team has calculated that even deeper cuts may be needed.

Historic Cuts Looming

What the Finance Ministry officials have listed under the seemingly innocuous title "Medium-Term Budget Goals of the Federal Government" is nothing less than the most comprehensive austerity program in postwar German history. In order to avoid forcing the government to incur additional debt, the officials are scrutinizing subsidies, entitlements and welfare benefits worth tens of billions of euros.

There are also plans to raise taxes. Finance Ministry officials propose increasing the reduced VAT rate of 7 percent — which currently applies to such items as food, books and streetcars tickets — to the regular VAT rate of 19 percent. This alone would allow the state to collect an extra €23 billion ($30 billion) every year.

Schäuble’s team wants to slash €10 billion from the federal government’s contributions to the German health fund, which currently helps to stabilize premiums in the statutory health insurance system. At the same time, they know that Germany’s statutory insurers will require more money over the coming years as the population’s life expectancy increases. This has led them to consider introducing a surcharge on income tax to support the system. The experts call this a "health solidarity tax."

The plan also calls for state pension funds to do their part. At the same time, Schäuble intends to counteract the expected labor shortage. Since the baby boomer generation of the 50s and 60s will go into retirement in the future, Germans will be expected to work longer. The ministry envisages the retirement age remaining at 67, but the retirement benefit period will have "to be linked to life expectancy." In other words, the older Germans get, the longer they will have to work — if need be, beyond the age of 67.

Measures to Discourage Early Retirement

In order to achieve this goal, Schäuble’s team wants to make early retirement even less attractive. "Inappropriate incentives for early retirement have to be removed," they write, and they have come up with proposals for achieving this. Until now, retirees who leave the workforce before they reach the statutory retirement age have had to accept a 3.6 percent reduction in their pension payments for each year. In the future, this would be 6.7 percent.

Widows and widowers would also have to tighten their belts. Currently, the surviving spouse receives 55 percent of the deceased spouse’s pension. The idea is to significantly reduce this level in the future. This initiative would annually save billions of euros for the state pension fund.

Finance Ministry officials see additional cutbacks in social services as unavoidable if the state is to spend more money in other areas, for example, on repairing roads and improving the education system. These investments would "entail stronger limitations on consumptive expenditure," as it says in the draft paper.

The proposals from Schäuble’s ministry serve to tighten a regulation that has only been enshrined in the German constitution for the past few years: the so-called debt brake, which calls for the German federal government to "maintain a nearly balanced budget" starting in 2016.

The government will still be able to take out loans to some extent. In 2016, for instance, it will be allowed to borrow some €10 billion. However, Schäuble and his staff say that Germany should not completely exhaust this scope for borrowing. They want a safety buffer. "It is absolutely necessary to maintain sufficient distance to the constitutional limit during budget planning to prepare for unexpected structural expenditure and revenue developments," it says in the paper. The experts also note that they intend to safeguard the national budget against a series of risks.

One of the examples that they cite is "a sharp economic downturn." If the economy collapses, as it did in the wake of the financial crisis in 2009, experience has shown that public coffers come under considerable pressure. Tax revenues decline while expenditures, such as for the unemployed, massively increase.

This can have a devastating impact on state finances. Following the most recent recession, government debt soared from 65 to nearly 83 percent of gross domestic product (GDP). Schäuble’s experts say that the country cannot withstand another similar increase in public debt and conclude that it’s time to take appropriate countermeasures.

Bank Bailouts, Euro Crisis Pose Budget Risks

To make matters worse, Finance Ministry officials say that it’s also possible that Berlin will have to absorb the costs of its bank bailouts. At the height of the financial crisis, the German government supported ailing financial institutions such as Hypo Real Estate, Commerzbank and WestLB with capital injections and guarantees amounting to nearly €180 billion. Large quantities of toxic assets were transferred to so-called "bad banks."

But it’s questionable whether these banks will ever be able to completely pay back this money. If that is the case, the federal government will have to waive its claims and permanently absorb the debt.

Schäuble’s team foresees the possibility of a similar development with the euro rescue. Indeed, "irrevocable ESM payment defaults" is one of the reasons they list for their contingency plans. Behind the bureaucratic jargon lies the concern that Germany — despite the government’s solemn statements to the contrary — will have to pay for the euro rescue.

Germany is currently supporting the European Stability Mechanism (ESM) to the tune of at least €190 billion. A portion of these guarantees and loans could actually be lost if Greece’s government creditors forgive some of the country’s debt. The losses to German public coffers could then easily amount to tens of billions of euros.

Consequently, Finance Ministry officials contend that the government will have to make cutbacks elsewhere in the future. Now, in a scenario that euroskeptics have long been warning about, German Chancellor Angela Merkel’s government has finally admitted, for the first time, that to balance out the impact of the monetary crisis it will have to reduce expenditure for pensioners and people taking early retirement.

Germany Didn’t Impose Austerity On Itself

The paper by the Finance Ministry officials contains a further admission. The next finance minister will have to make up for what Schäuble has failed to accomplish. Merkel’s most important minister forced half of Europe to submit to austerity measures while the Germans were spending money hand over fist at home.

The current center-right coalition of Merkel’s Christian Democratic Union (CDU), its Bavarian sister party, the Christian Social Union (CSU), and the pro-business Free Democratic Party (FDP) ignored the opposition’s warnings and pushed through a costly childcare allowance that pays mothers who stay home €150 per child per month. Starting in mid-2014, over €1 billion per year will be budgeted for this expense. Public coffers are also missing €1.8 billion every year because the FDP managed to push through a bill eliminating a €10-per-quarter copay charge for visiting the doctor or dentist, payable since 2004 by people in the statutory — meaning non-private — health insurance system. But perhaps the most blatant example of overgenerous public spending during the coalition’s current term was the tax reduction for hotel owners, which costs the government roughly €1 billion a year. The political process that preceded each jump in spending was always the same. Schäuble grumbled audibly, but ultimately agreed.

No wonder the opposition now accuses him of having failed. "The increased revenues from the economic recovery were not completely used to reduce deficit spending," says SPD finance expert Carsten Schneider. "This government demands harsh austerity measures from other European countries," he argues, "while it lavishly spends its own tax revenues."
Schäuble’s team apparently has a similar view of the situation — and even the boss himself has recently changed his tune. Schäuble says that he wants to run again in the next election, and he could even see himself serving another term as finance minister.

And, in keeping with his style, he is carefully preparing the Germans for hard times with his signature inscrutable Schäuble-speak: "We cannot allow ourselves to believe that the current positive situation is automatically secured for the future," he says. He goes on to say that sound public finances are "not a notion created by stubborn finance ministers, but rather the prerequisite for prosperity and social security." In plain language: Germany is going to start subjecting itself to some iron fiscal discipline.

Translated from the German by Paul Cohen

http://www.spiegel.de/international/ger … 74377.html

Statistics: Posted by yoda — Mon Dec 24, 2012 12:54 pm


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American • Re: The Third Term INSIDE: The Secret Plan to Retain Power

I detest them to and never post them and rarely listen to them BUT becuse of the unusual forecasts in this one I though it would be of some interest to some readers.

1) American presidents are rarely allowed a 3rd term.
2) This forecast and the audio message attracted the attention of the mainstream media – something that rarely if ever happens
3) The reaserch the commentator has made and is backed with mostly facts has a strong possiblity of being true
4) The forecast is based on energy mainly gas and oil and will be a 180 degree turn around from the current status of U.S. energy discoveries and suggests that the U.S. could be a net exporter of oil and gas in the hear furture and that there is astrong possiblity the price of oil could drop substantially in the next 2-3 years.This has the potential of pulling the U.S. out of its current economical situation.
5)This will have a huge impact on Canada – especially our oil and gas industry and in particular heavy oil.

Statistics: Posted by DIGGER DAN — Sun Nov 11, 2012 3:44 pm


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