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China “fully prepared” for currency war: central banker

“Yi Gang, deputy governor of China’s central bank, issued the call after G20 finance ministers last month moved to calm fears of a looming war on the currency markets at a meeting in Moscow. Those fears have largely been fuelled by the recent steep decline in the Japanese yen, which critics have accused Tokyo of manipulating to give its manufacturers a competitive edge in key export markets over Asian rivals. South Korea’s incoming president Park Geun-Hye has also signalled her willingness to step in to stabilise the won and protect exporters battling a stronger Korean currency and a weaker yen.” Continue reading →

US Unlikely To Crack China FATCA Agreement

“FATCA has been created to track down the offshore financial assets of US taxpayers and make the institution concerned reveal details so that tax can be collected. Now China is telling the US that there will be so few US citizens holding Chinese bank accounts that the cost of implementing FATCA outweighs the benefit to the nation’s financial institutions. The Chinese have also pointed out that even the opportunity of signing an IGA which would allow them to get details of Chinese taxpayers in the US would also serve minimal benefit to the government.” Continue reading →

The Housing Bubble and the Limits of Human Knowledge

“Senior government officials previously denied that the government was on the hook for Fannie and Freddie (presumably thinking that their denial would never be tested by events — a bad theory). What financial shape were Fannie and Freddie in as the crisis proceeded? How bad would the effects of the shriveling bubble be? How much can you trust the word of government officials? How much about the financial future can central bankers or anybody know? Consider the lessons of the following 10 quotations.” Continue reading →

UN investigator: Obama must release details of Bush kidnapping and torture program

“Ben Emmerson, the U.N. special rapporteur on the promotion and protection of human rights while countering terrorism, will release a new report on Tuesday detailing his findings about the Bush-era program, according to Reuters. The report was not published online ahead of a planned hearing set for Tuesday, and a spokesperson was unavailable for comment. He added that there is ‘credible evidence’ that the CIA under the Bush administration had ‘black sites’ in Thailand, Poland, Morocco, Lithuania and Romania. Emmerson’s report is expected to urge lawmakers in those countries to fully investigate the matter and prosecute former officials if necessary.” Continue reading →

Americans – Like Nazi Germans – Don’t Notice that All of Our Rights Are Slipping Away

“More and more commonly, the government prosecutes cases based upon ‘secret evidence’ that they don’t show to the defendant … or sometimes even the judge hearing the case. The government uses ‘secret evidence’ to spy on Americans, prosecute leaking or terrorism charges (even against U.S. soldiers) and even assassinate people. And see this and this. Secret witnesses are being used in some cases. And sometimes lawyers are not even allowed to read their own briefs. Indeed, even the laws themselves are now starting to be kept secret. And it’s about to get a lot worse.” Continue reading →

Wendy McElroy: Only Places Have Rights?

“The queue of ‘rights that depend on geography’ is growing. Texting while walking has become the new social sin. Portland, Oregon just made it illegal for a man to whistle on public streets unless he keeps walking and, so, distributes the noise pollution. Bloomberg’s ban on donations of food to homeless shelters because the city could not guarantee the salt, fat and fiber content. Bureaucrats want to yank rights out from under individuals and make them a matter of place, not people. All you need to do is be in the wrong place, and you have no rights. Speak out, drink a large soda, hand out literature, walk your dog, or whistle too long in one place…crime is everywhere.” Continue reading →

Homeland Security Purchases 2,700 Light-Armored Tanks to Go With Their 1.6 Billion Bullet Stockpile

“According to one estimate, since last year the Department of Homeland Security has stockpiled more than 1.6 billion bullets, mainly .40 caliber and 9mm. DHS also purchased 2,700 Mine Resistant Armor Protected Vehicles (MRAP).” Continue reading →

How to become a drone target

“The government apparently calls such attacks signature strikes because the targets are identified based on intelligence ‘signatures’ that suggest involvement in terror plots or militant activity. So what signatures does the U.S. look for and how much evidence is needed to justify a strike? The Obama administration has never spoken publicly about signature strikes. Instead, generally anonymous officials have offered often vague examples of signatures. The resulting fragmentary picture leaves many questions unanswered.” Continue reading →