Ron Paul: US money sent to Egypt has been ‘wasteful’
"Ron Paul joins Fox News' Neil Cavuto to discuss foreign aid sent to Egypt." Continue reading →
J’ACCUSE … !
"I address you as 'president' only as a concession to popular convention. In truth, your claimed authority is a fraud, and your actual status is that of defendant in the matter of the persecution of Bradley Manning. It was clear to all who cared to notice that Manning is no criminal but rather the worthy nemesis of a crime syndicate formally headed by yourself. He was wrongfully arrested, illegally detained without charge for a period far in excess of the legally prescribed maximums, and finally and illegally put on trial not for his alleged criminal acts but for exposing your crimes and the crimes of your gang, 'the government of the United States.'" Continue reading →
Michael Hastings: my friend and his enemies
"When Michael spoke to an annual gathering of military reporters in November 2010, he got few congratulations for writing unquestionably the most consequential piece of war reporting that year, and a lot of hostility instead. Michael could give it right back. His journalist critics were hopelessly compromised Washington pseudo-reporters, he railed, slavishly devoted to the access he considered himself to scorn. It was in this manner that Michael and his critics would forever talk past each other. But Michael didn't start it; they started it. And Michael had thick skin for someone so relentlessly vilified as arrogant." Continue reading →
‘Find a safe haven,’ father tells Snowden in Russia
"'Edward, I hope you are watching this. Your family is well. We love you. We hope you are healthy, we hope you are well, I hope to see you soon, but most of all I want you to be safe. I want you to find a safe haven,' Lon Snowden said in an interview broadcast on Rossiya24 channel. In the interview dubbed into Russian, Lon Snowden said he hoped his son would return home one day. But he said that events over the past few weeks suggested that there were no guarantees of a fair trial in the United States, and that he therefore agreed with his son’s decision to remain in Russia." Continue reading →
Snowden Is No Traitor: 55% to 34%
"In a massive shift in attitudes, voters say 45 – 40 percent of the government’s anti-terrorism efforts go too far in restricting civil liberties, a reversal from a January 14, 2010 survey, when voters said 63 – 25 percent that such activities didn’t go far enough. Almost every party, gender, income, education, age and income group regards Snowden as a whistle-blower rather than a traitor. The lone exception is black voters, with 43 percent calling him a traitor and 42 percent calling him a whistle-blower. There is a gender gap on counter-terrorism efforts as men say 54 – 34 percent they have gone too far and women say 47 – 36 percent they have not gone far enough." Continue reading →
Glenn Greenwald Tears Into Toobin Over Manning, Snowden
"Guardian journalist Glenn Greenwald faced off against CNN legal analyst Jeffrey Toobin over the sentencing of ex-Army private Bradley Manning and his acquittal on the charge of 'aiding the enemy.' Greenwald brought up Pentagon Papers whistleblower Daniel Ellsberg and people who exposed Bush administration scandals, telling Toobin that if he's going to make all these assertions about what whistleblowers shouldn't do, 'you're essentially calling for the end of investigative journalism.'" Continue reading →
UBS to repay Swiss government bailout loan
"The move draws a line under the Swiss government's rescue of UBS nearly five years ago. At the time the country’s biggest bank faced collapse over more than $50 billion in losses on mortgage securities. The central bank’s fund was set up to bail out UBS at the height of the financial crisis. The government took a nine percent stake in UBS as part of the bailout comprising six billion francs of equity and a loan from the Swiss National Bank (SNB). UBS spun off $38.7 billion of risky assets into the fund. UBS last week announced its quarterly profit would exceed analysts’ expectations, even after paying $885 million to settle a lawsuit in the United States." Continue reading →
Deutsche Bank to Cut Assets $332 Billion as Profit Slides
"Deutsche Bank AG (DBK), continental Europe’s biggest bank, said it will shrink its balance sheet by 250 billion euros ($332 billion), joining Barclays Plc (BARC) and UBS AG (UBSN) in seeking to comply with stricter capital rules. Deutsche Bank will reduce leverage by changing the way it accounts for derivatives and by winding down a 73 billion-euro portfolio of assets. Co-Chief Executive Officer Anshu Jain has been offloading riskier assets, firing staff and raising capital by selling shares as lingering doubts about the ability of Europe’s banks to withstand another financial crisis prompted regulators and shareholders to demand stronger finances." Continue reading →
On the Ground in Cyprus with Doug Casey
"Cyprus is perhaps the best most-recent example of the actions that a desperate government can take—and why you need to internationalize your savings, yourself, your income, and your digital presence. As you are no doubt aware, earlier this year on a seemingly ordinary Saturday morning (when most people would least suspect it), the government of Cyprus swiftly closed the banks, imposed capital controls, and announced a confiscation of customer deposits. While these actions came as a surprise to many, it should not have. The actions of a desperate government usually follow a predictable pattern and can happen in any country." Continue reading →
Large Depositors in Cyprus Lose 47.5% of Their Deposits. Good!
"If the principle of 'depositor beware' were allowed to spread across the world and down to every dollar or euro deposited, the world would then have something resembling a free market in banking. Every banker would know that a bank run on his bank could wipe it out at any time. Bankers would become far more careful with depositors’ money. Banking would become less inflationary. The world would be better off. The bankers in the rest of Europe are terrified that the 'Cyprus solution' will spread to their nations. That would place final authority in the hands of depositors. This thought terrifies bankers." Continue reading →
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