CLibertyC

Pepe Escobar: Manning guilty; war criminals on the loose

"In a show trial/kangaroo court with an American twist, worthy of the Cultural Revolution in 1960s China, Bradley Manning was predictably found guilty of multiple counts of violating the Espionage Act. If only Walter Benjamin were alive to see the Angel of History once again throwing one of his trademark lightning bolts of irony; Manning was pronounced guilty of being a spy - by a Pentagon judge - just next door to Spy Central, the NSA headquarters in Fort Meade, Maryland." Continue reading →

Continue ReadingPepe Escobar: Manning guilty; war criminals on the loose

Putin Shows Global Mojo to Russians as U.S. Fumes Over Snowden

"Russian President Vladimir Putin is showing his gamesmanship on a global stage by giving his voters what they want with the asylum granted to ex-U.S. contractor Edward Snowden, while leaving the White House flustered. The decision is backed by almost twice as many Russians as those against it and those who view Snowden’s role as positive outnumber negative assessments three to one. Putin, who used Russia’s oil-powered wealth accumulation to build support for his 13-year rule, is facing an economy that threatens to slide into recession." Continue reading →

Continue ReadingPutin Shows Global Mojo to Russians as U.S. Fumes Over Snowden

Greece should defy the gunboat creditors

"Nothing whatsoever has been resolved, either in Greece, or in Portugal, or in Cyprus, or in Spain, or in Italy. Nor will there be under the current contractionary policy structure. There is no Deus Ex Machina. These nations will remain trapped in slump and mass unemployment until they take matters into their own hands, form a debtors cartel, confront the head-on gunboat creditors from a position of strength, and dictate the outcome. But first they have to defenestrate out their own cowed elites." Continue reading →

Continue ReadingGreece should defy the gunboat creditors

Obamacare Full Frontal: Of 953,000 Jobs Created In 2013, 77%, Or 731,000 Are Part-Time

"When the payroll report was released last month, the world finally noticed what we had been saying for nearly three years: that the US was slowly being converted to a part-time worker society. This slow conversion accelerated drastically in the last few months, and especially in June, when part time jobs exploded higher by 360K while full time jobs dropped by 240K. In July we are sad to report that America's conversation to a part-time worker society is not 'tapering': according to the Household Survey, of the 266K jobs created, only 35% of jobs, or 92K, were full time. The rest were... not." Continue reading →

Continue ReadingObamacare Full Frontal: Of 953,000 Jobs Created In 2013, 77%, Or 731,000 Are Part-Time

If I Bribe City Hall, Can I Reduce My Mortgage?

"Richmond, California, sent the securities and real estate industries into a tizzy this week. The city said it is moving ahead with plans to use its power of eminent domain to seize home mortgages and restructure them for residents who owe more money than their homes are worth. This would be a first in the U.S. Normally when governments do things that upset Wall Street millionaires it’s a sign they’re going down the right path. There are exceptions, of course. Cities usually use eminent domain to seize land and buildings. If they’re going to start seizing home mortgages, why stop there?" Continue reading →

Continue ReadingIf I Bribe City Hall, Can I Reduce My Mortgage?

Top Federal Reserve economist slams ‘incoherent’ European Central Bank

"A paper by the Richmond Fed said the ECB is hamstrung by institutional problems and acts on the mistaken premise that excess debt is the cause of the eurozone crisis when the real cause is the collapse of growth. 'The ECB lacks a coherent strategy for creating the monetary base required to sustain the money creation necessary for a growing economy,' said the paper, written in July by Robert Hetzel, the bank’s senior economist. It called for direct action to buy 'bundles' of small business loans, as well as 'packages of government debt' across EMU states, including German Bunds." Continue reading →

Continue ReadingTop Federal Reserve economist slams ‘incoherent’ European Central Bank

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 →

Continue ReadingAustralian Government to establish bank bailout fund with new levy

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 →

Continue ReadingGold imports jump 102% in Pakistan; ban imposed

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 →

Continue ReadingIndia July silver imports highest in 5 years

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 →

Continue Reading500,000 Indian workers lose jobs as jewellers curb gold imports