Monthly Archives: August 2013

Australian Government to establish bank bailout fund with new levy

"The Federal Government is expected to announce a new levy on banks set to start in 2016 to help fund any future bailouts. The levy will start on January 1, 2016 and will be set at 0.05 per cent on deposits of up to $250,000. It is understood the levy will raise $733 million in its first 18 months. The money raised will go into a new Financial Stability Fund and will be used in the event of a bank collapse. The Financial Stability Fund will appear as revenue in the budget, as the Government grapples with revenue shortfalls ahead of releasing its economic update." Continue reading →

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Gold imports jump 102% in Pakistan; ban imposed

"Following the Indian government’s decision to discourage gold import by imposing 8% duties, buyers have reportedly shifted to Pakistan where the precious metal is allowed to be imported duty free since 2001. An official handout by Pakistan's Economic Coordination Committee (ECC) of the Cabinet, headed by Finance Minister Ishaq Dar, has noted that there have been serious apprehensions that the duty free import of gold is being abused by unscrupulous elements." Continue reading →

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India July silver imports highest in 5 years

"Silver imports in July 2013 are the second highest in any month in the last five years. On the other hand, gold has seen a steep decline in imports in June (only 8.908 MT) compared to 37.618 MT in May, the second lowest in last five years. Experts say traders are importing more silver because of trade restrictions on gold by the Government of India since June 3. The decrease in silver prices over the last three months is also driving imports. 'Due to restrictions on gold, these figures were expected and traders are waiting for gold prices to fall further before they start buying,' said Kishore Javeri of Javeri and Company." Continue reading →

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500,000 Indian workers lose jobs as jewellers curb gold imports

"Vijay Gopal, a goldsmith at one of India's leading branded jewellery manufacturing unit in Coimbatore, lost his job last month. 'Since last three decades I was working in this market and never felt the need to learn any other skill. I am clueless on how I will feed my family of six,' said Gopal. Gopal is not alone. The government’s move to tighten the screws on gold imports, and the decision by major jewellers such as Tata Group's Tanishq, TBZ, Geetanjali Jems and others to curb gold sales, have caused some collateral damage: a cloud over the future of industry workers. Mrityunjay Sarangi, secretary, ministry of labour, refused to comment on the issue." Continue reading →

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State Sponsored Terrorism: Another Anniversary

"August 6 marks the 68th anniversary of a truly horrific example of state sponsored terrorism. It was on this date that the United States government dropped a nuclear bomb on the city of Hiroshima, Japan. This was followed by an even more callous example of state sponsored terrorism three days later, with the nuclear bombing of Nagasaki. There was no military reason for these acts of state sponsored terrorism. This military myth has been exposed for the lie that it is. Don’t take my word for it: ask Admiral Leahy and General Eisenhower. That the myth persists is a testament to the indoctrination schemes of public education and mainstream media." Continue reading →

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South Korea’s $4 Million Teacher

"Tutoring services are growing all over the globe. But nowhere have they achieved the market penetration and sophistication of hagwons in South Korea, where private tutors now outnumber schoolteachers. The bulk of Mr. Kim's earnings come from the 150,000 kids who watch his lectures online each year. For decades, the South Korean government has been trying to tame the country's private-education market. Politicians have imposed curfews and all manner of regulations on hagwons, even going so far as to ban them altogether during the 1980s, when the country was under military rule. Each time the hagwons have come back stronger." Continue reading →

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Protest over Taiwanese military conscript’s death draws 100,000

"More than 100,000 Taiwanese people took to the streets Saturday in protest over the death of a young conscript who was allegedly abused in the military. Protesters rallied at a square near the presidential office in Taipei, mostly dressed in white — a colour symbolising truth in local culture. It was the second mass protest since Corporal Hung Chung-chiu died of heatstroke on July 4 — apparently after being forced to exercise excessively as punishment for taking a smartphone onto his base — just three days before the end of his compulsory year-long military service." Continue reading →

Continue ReadingProtest over Taiwanese military conscript’s death draws 100,000

A Change in the Current

"More and more willingness to challenge the official story lines of enemies, wars, and terror is developing, even in Congress. The warmongers increasingly look like rabid and senseless extremists. The government has made a martyr of Manning, whose courage and endurance are extraordinary. The government has made a fool of itself internationally over Snowden. The critics of Snowden, increasingly shrill and extreme, cannot fend off the truth of vast government overreach. A switch is in the process of being thrown in which the Empire is going on the defensive. It remains to be seen whether this change in the current will become a turn in the tide." Continue reading →

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Why So Much Faith in Supreme Court Justices?

"A quick reading of the decision in Dred Scott v. Sanford (1857) should cause any reasonable person to question the assumption of judicial infallibility, and the wisdom of granting judges the definitive and final say in all cases. In essence, the Supreme Court declared black people inferior and that even free blacks were not citizens under the Constitution. The court reasoned that since black people – even those not held in slavery – were not citizens and possessed no rights, Scott had no standing to sue in court." Continue reading →

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