Network Archives

The Real Story of the Cyprus Debt Crisis (Part 1)

"In July 1974, in the face of an airborne invasion backed by the armour of NATO member Turkey, 200,000 Greek Cypriot citizens ran from their homes with only the clothes on their backs. The Greek Cypriot armour and infantry were no match for the second largest standing army in NATO, equal in size to the British and French forces combined. The Greek Cypriots were easily routed. The victors conducted summary executions of thousands of their prisoners and threw some of the bodies down wells to hide their crimes. Yet so began the housing boom in Cyprus." Continue reading →

Continue ReadingThe Real Story of the Cyprus Debt Crisis (Part 1)

Families occupy unfinished homes in Spain

"On the edge of a green field where horses graze, Juana and her neighbours found this mini estate of more than 70 elegantly painted three-bedroom houses, empty and partly plundered. She says about 70 families have moved into the estate in the past three weeks, into houses that are all but finished but lack water and electricity. Like countless projects across Spain, the site was abandoned by property developers when the bank loans dried up in the 2008 financial crisis. Local authorities have remained silent on the status of the site. Unlike many of Spain’s so-called 'ghost towns', life has returned to this one, in the form of local families ruined by the crisis." Continue reading →

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Argentina’s grand plan to recover US dollars is about as worthless as its own currency

"For three months, anyone sitting on a pile of undeclared dollars will be able to contribute to Argentina’s already astronomical debt by depositing them at the central bank in exchange for a 4% annual return through 2017. But why would anyone buy Argentine bonds right now with American dollars? People aren’t sitting on dollars in Argentina because they make comfortable cushions; they’re hoarding them because it’s the safest investment in Argentina right now. Argentines are now willing to pay more than twice the open market exchange rate. The country’s crippling default in 2001 and the ensuing flash devaluation of the Argentine peso are fresh on everyone’s mind." Continue reading →

Continue ReadingArgentina’s grand plan to recover US dollars is about as worthless as its own currency

Argentina: Give Us Your Real Dollars for Our Fake Dollars

"President Cristina Fernandez de Kirchner’s wish of being able to print dollars is coming true as the central bank begins issuing dollar-denominated certificates today that trade in pesos. Argentina is issuing the certificates, known as Cedines, as part of a tax amnesty plan to attract undeclared cash back into the economy. The Cedin 'is an ideal medium for the payment of U.S. dollar obligations,' and can be used for buying products from house appliances to construction materials, according to the law approved by congress May 29, Argentines with undeclared foreign-currency savings have until Sept. 30 to trade their dollars for a certificate of deposit for investment, or Cedin." Continue reading →

Continue ReadingArgentina: Give Us Your Real Dollars for Our Fake Dollars

With Bullets Scarce, More Shooters Make Their Own

"Gun stores around the country have had difficulty keeping up with demand for ammunition in recent months. Fears of government tightening of gun and ammunition controls have meant that retailers, from Wal-Mart to mom-and-pop gun shops, haven't been able to keep bullets on the shelves. Shopper Robert Nicholson, like thousands of other shooters, is going a different route. He's making more of the bullets he shoots. Shop owner Cliff Poser says the scarcity of ready-made bullets has frustrated shooters to the point they're spending between $200 and $1,000 to get into the hobby known as 'reloading.'" Continue reading →

Continue ReadingWith Bullets Scarce, More Shooters Make Their Own

Glenn Greenwald: The NSA’s mass and indiscriminate spying on Brazilians

"The NSA has, for years, systematically tapped into the Brazilian telecommunication network and indiscriminately intercepted, collected and stored the email and telephone records of millions of Brazilians. All of this bulk, indiscriminate surveillance aimed at populations of friendly foreign nations is part of the NSA's 'FAIRVIEW' program. Under that program, the NSA partners with a large US telecommunications company, and that US company then partners with telecoms in the foreign countries. Those partnerships allow the US company access to those countries' telecommunications systems, and that access is then exploited to direct traffic to the NSA's repositories." Continue reading →

Continue ReadingGlenn Greenwald: The NSA’s mass and indiscriminate spying on Brazilians

Polish PM laments opinion impasse keeping Poland out of Eurozone

"Because opposition conservatives reject the European single currency, the government lacks the two-thirds parliamentary majority needed to push through necessary constitutional changes. Central Europe’s largest economy, Poland has maintained growth each year since it shed communism two decades ago. It is the only EU member to have done so through the 2007-2009 financial meltdown and the ongoing eurozone crisis, thanks in part to the zloty easing in value against the euro. Opinion polls show most Poles are opposed to adopting the euro." Continue reading →

Continue ReadingPolish PM laments opinion impasse keeping Poland out of Eurozone

Edward Snowden: NSA ‘in bed together with’ other Western states

"Fugitive intelligence leaker Edward Snowden said the US National Security Agency operates broad secret spying partnerships with other Western governments now complaining about its programmes, in an interview published Sunday. In remarks published in German, Snowden said an NSA department known as the Foreign Affairs Directorate coordinated work with foreign secret services. The partnerships are organised so that authorities in other countries can 'insulate their political leaders from the backlash' if it becomes public 'how grievously they’re violating global privacy,' he said." Continue reading →

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NSA Rejecting Every FOIA Request Made by U.S. Citizens

"Seymour had decided to request his NSA file after coming across a recent post of mine instructing Americans on how to properly request such files from the FBI and NSA. A Navy vet and two-time Obama voter who supported the President’s platform of greater governmental transparency, Seymour was shocked by the letter he received. The letter, which first acknowledges the media coverage surrounding its surveillance systems, quickly moves to justify why none of that data can be obtained by an American citizen in a standard FOIA request. Dozens of citizens have emailed me to say they’ve received a similar, if not identical, letter." Continue reading →

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Obama Throwing Medical Marijuana Patients Into Federal Prison At Unprecedented Rate

"Fallout from the Obama Administration’s aggressive federal enforcement in medical marijuana states has reached a fever pitch this month with three people being sentenced, two others due to surrender to federal authorities to serve out sentences of up to five years in prison, and one federal trial in Montana currently scheduled for January 14th. Two of the three people being sentenced in the coming month face five and ten years to life, respectively. Far surpassing his predecessor George W. Bush, President Obama has conducted more than 200 SWAT-style raids on state-compliant medical marijuana businesses and has indicted more than 80 people since he took office." Continue reading →

Continue ReadingObama Throwing Medical Marijuana Patients Into Federal Prison At Unprecedented Rate