CLibertyC

Jack Lew: The Rookie

"New York Democrat Chuck Schumer said the Treasury nominee has an 'uncanny ability to delve into a subject' and 'master it.' Americans can only hope, because you wouldn't know it based on the little that Mr. Lew claims to have known about what happened during his tenure at Citigroup from 2006-2008. He was a senior executive at the giant failing bank before and during the financial crisis, but he gave the impression he was there mostly to cash a paycheck. When Orrin Hatch ticked off the problems that afflicted the two Citi divisions that Mr. Lew oversaw as chief operating officer, the nominee seemed to know less about them than Mr. Hatch." Continue reading →

Continue ReadingJack Lew: The Rookie

Ron Paul: Beware The Consequences of Pre-Emptive War

"Last year more US troops died by suicide than died in combat in Afghanistan. More than 20 percent of military personnel deployed to combat will develop PTSD. More than 20 percent of active-duty military are on potentially dangerous psychotropic drugs; many are on multiple types. Violent crime among active duty military members increased 31 percent between 2006-2011. The warning that 'he who lives by the sword dies by the sword' goes not only for individuals but for entire societies. It is a warning to all of us. A country or a society that lives with the violence of pre-emptive war in fact self-destructs." Continue reading →

Continue ReadingRon Paul: Beware The Consequences of Pre-Emptive War

Russian Foreign Minister: Russia will never involve itself in ‘another Afghanistan’

"The head of the Foreign Ministry said Russia has no intention of deploying its military to the Middle East or North Africa, where social and political crisis is rampant, opting instead to work diplomatically with legitimate governments. 'This is my answer to those who wonder why we are not fighting for our positions,' Foreign Minister Sergey Lavrov said on the 'Sunday Night with Solovyov' program. 'We will not be fighting for our positions…and creating 'another Afghanistan' for ourselves. Never, under no circumstances!' Lavrov was referring to the Soviet experience in Afghanistan (1979-1989), which is being played out in similar fashion today by the United States." Continue reading →

Continue ReadingRussian Foreign Minister: Russia will never involve itself in ‘another Afghanistan’

David Galland: Three Levels of Survival Skills

"While we all hope that things will turn out for the best, and they very well might, I suspect that, like me, most of you sense that something is fundamentally wrong in the world today. Trying to ignore the risks, effectively keeping your alert level at 'White,' leaves you woefully unprepared. Now is the time to think this stuff through, while you still can do so calmly. Now, moving on, I want to share with you stories from two individuals faced with severe disruptions in the norm – one from old friend Roger S. from Zimbabwe, who reports on the current state of things there and the other from an individual who survived the war in Sarajevo." Continue reading →

Continue ReadingDavid Galland: Three Levels of Survival Skills

Diesel shortage pushes Egyptians to the brink

"Diesel supplies are drying up as a cash-strapped government struggles to cap a mounting bill for subsidies it has promised the IMF it will reform to secure an elusive $4.8 billion loan desperately needed to keep a sagging economy afloat. The situation appears near breakdown with growing shortages, unsustainable subsidies and foreign exchange reserves running out, raising the risk that fuel bottlenecks lead to food shortages and pose a risk to political stability. Foreign reserves are down below $15 billion, less than three months' imports, despite deposits from Qatar and Turkey. The Egyptian pound has lost 8 percent of its value this year and a black market has emerged." Continue reading →

Continue ReadingDiesel shortage pushes Egyptians to the brink

Egypt, Syria – it’s just the end of them

"Two years and 60,000 casualties into Syria's civil war, the foreign ministries of the West have nothing to show for their peacemaking efforts except a wad of airline and hotel receipts. Egypt is proceeding with grim inevitability towards financial exhaustion, and the government has just announced a three-pita-per-day bread ration. Most alarming is the emergence of a black market in Egyptian pounds, with a street rate February 10 of 6.95 pounds to the US dollar, against an official rate of 6.72. United States President Barack Obama has asked congress to renew Egypt's $1.8 billion in annual aid, but two-thirds of that is military assistance." Continue reading →

Continue ReadingEgypt, Syria – it’s just the end of them

Houston passes law requiring photographs, fingerprints of gold sellers

"Houston City Council on Wednesday passed new rules on precious metals dealers despite a lengthy attempt to water down the ordinance by Councilwoman Helena Brown, who called it 'safety theater' that would burden businesses and invade jewelry sellers' privacy. Officers in the Houston Police Department's precious metals unit said reputable dealers already implement many of the new rules but said the ordinance - which requires a photograph and thumbprint of each seller and mandates dealers enter transactions into an online database - will help them catch crooks and recover stolen goods." Continue reading →

Continue ReadingHouston passes law requiring photographs, fingerprints of gold sellers

Draconian Cash Controls Are Coming To France

"Ayrault trotted out his national plan, a 20-page document that outlined his all-out effort to go after any kind of behavior that could possibly deprive the government of those sorely needed euros. Stuffed into that 20-page national plan: prohibiting cash payments of over €1,000 per purchase. It’s urgent. He wants to get the process started soon so that 'a decree and legislative measures' can be finished by the end of 2013. Two crisp 500-euro bills and a single coin: voilà, an illegal transaction. But the limit would only apply to fiscal residents. Fiscal residents of a country other than France would be able to pay €10,000 in cash per purchase." Continue reading →

Continue ReadingDraconian Cash Controls Are Coming To France

Double taxation row as Brussels unveils new financial transactions tax

"The European Commission was under fire Thursday (14 February) over claims that its planned tax on financial transactions (FTT) would lead to double taxation. Unveiling the plans for an FTT backed by 11 EU countries, Taxation Commissioner Algirdas Semeta said that it was a 'fair, technically sound and legally robust tax.' The proposal puts a 0.1 percent levy on bonds and shares and 0.01 percent on derivative products. The use of an 'issuance' principle as well as 'residence' criteria means that traders operating outside the FTT-11 would also be liable to pay the tax." Continue reading →

Continue ReadingDouble taxation row as Brussels unveils new financial transactions tax

Countries are using devaluation to gain an advantage – and Britain is one of the worst offenders

"At Wednesday’s Inflation Report press conference, Sir Mervyn King, Governor of the Bank of England, aired some apparently shocking numbers. Since the financial crisis began, not only had interest rates been reduced to close to zero, but the Bank of England’s balance sheet had been expanded by a factor of five. Expressed as a share of GDP, the increase has been greater than that of the US, greater than that of the European Central Bank, and greater than that of Japan. This is way beyond being an unprecedented degree of stimulus. These are completely uncharted waters we are in, and even Sir Mervyn seems to be getting worried by them." Continue reading →

Continue ReadingCountries are using devaluation to gain an advantage – and Britain is one of the worst offenders