Dialectical Maneuvers

“Banish Fractional Reserve Banking for Real Reform”

". . . says Thomas Mayer, a former IMF economist and former Chief Economist of Deutsche Bank Group and Head of DB Research, and now a Deutcshe Bank Senior Advisor. Mayer goes on to cite Austrian monetary and business-cycle theorist Jesus Huerta de Soto on the causal connection between fractional reserves and banking crises throughout history. He points out: 'Since there is no single state in the eurozone able to bail out banks in a systemic crisis, a banking regime without state backing is needed.' He concludes his letter with a four-step plan for 'comprehensive' banking reform that would implement just such a regime." Continue reading →

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WikiLeaks: Snowden Risks Being Stuck in Russia ‘Permanently’

"The WikiLeaks organization said on Tuesday that U.S. intelligence leaker Edward Snowden may be forced to stay in Russia permanently because Washington is 'bullying' possible intermediary countries, reports Naharnet. Russian President Vladimir Putin said on Tuesday that Snowden -- who had been expected to board a flight for Cuba on Monday, reportedly on his way to seek asylum in Ecuador -- was still in a Moscow airport transit zone. 'Cancelling Snowden's passport and bullying intermediary countries may keep Snowden permanently in Russia,' WikiLeaks said on its Twitter feed. 'Not the brightest bunch at State,' it said, referring to the U.S. State Department." Continue reading →

Continue ReadingWikiLeaks: Snowden Risks Being Stuck in Russia ‘Permanently’

U.S. withdraws Bangladesh trade ‘privileges’ over worker safety

"The United States withdrew trade privileges from Bangladesh Thursday, citing dangerous conditions for workers in the wake of a factory building collapse that killed over 1,100 people. Multiple recent tragedies in the country’s huge garment sector 'have served to highlight some of the serious shortcomings in worker rights and workplace safety standards in Bangladesh,' said US Trade Representative Michael Froman." Continue reading →

Continue ReadingU.S. withdraws Bangladesh trade ‘privileges’ over worker safety

Brazil Millionaires Should Pay for Protest Demands, Party Says

"Brazil’s ruling party is reviving a proposal to tax millionaires’ wealth to help pay for measures demanded by protesters staging the largest demonstrations in two decades. The move is part of a congressional rush to pass laws that placate demands from protesters for cheaper transportation, better education, and less corruption. Over the past three weeks, more than 1 million Brazilians have taken to the streets. The proposal, which has been considered for at least 25 years, came back to life as pressure for more spending coincides with a tighter budget. President Dilma Rousseff’s Workers Party, known as the PT, agreed this week to push for the approval of the bill." Continue reading →

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Joint Chiefs: Army reviewing rules of engagement over cyber threat

"Dempsey said that since his appointment as head of the Joint Chiefs in 2011 'intrusions into our critical infrastructure have increased 17-fold.' Some 4,000 cyber-security experts would join the ranks over the next four years, while some $23 billion would be spent on tackling the threat. Dempsey said Cybercom was now organized in three divisions. One team was in charge of countering enemy attacks, another was tasked with offering regional support while a third was responsible for protecting some 15,000 US military computer networks. In addition, the military now had a manual which allowed it to cooperate with Homeland Security and the FBI." Continue reading →

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Retired U.S. Marine Gen. James Cartwright under investigation for alleged Stuxnet leak

"A former high-ranking US military officer is being probed for allegedly leaking details about a US cyberattack on Iran, a US media report said. Citing unnamed legal sources, NBC News said retired Marine Gen. James Cartwright has been told he is under investigation for allegedly disclosing details about the Stuxnet attack on Iran’s nuclear facilities. Cartwright, 63, is the former vice chairman of the Joint Chiefs of Staff. The four-star general retired from the military in August 2011. Stuxnet, tailored specifically to target Iran’s uranium enrichment operation, struck Iran in 2010 and reportedly dealt a serious blow to its disputed nuclear program." Continue reading →

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Congratulations to Gay Americans Who Are Now Eligible for the Tax Code’s Marriage Penalty

"The CBO estimated that gay marriage in all 50 states would increase tax receipts by about $400 million a year if the George W. Bush tax cuts were extended and by about $700 million a year if they were not. Because those tax cuts ended up being mostly extended, the answer is probably somewhere in the middle, but closer to $400 million. The added revenue comes from the 'marriage penalty': Two-earner married couples where each spouse has a similar income tend to be taxed more heavily than they would be if both partners were single." Continue reading →

Continue ReadingCongratulations to Gay Americans Who Are Now Eligible for the Tax Code’s Marriage Penalty

Evidence Snowden is Being Protected By the CIA?

"Apparently the Justice Department sent its documents to Hong Kong with the WRONG MIDDLE NAME for Snowden. I know government bureaucrats have little motivation to do their jobs well, but give me a break. It very well could be that they purposefully submitted incorrect documents to delay the process and allow him to get out. Perhaps more evidence that he's under CIA protection and is part of a turf war." Continue reading →

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BIS Demands Global Depression?

"There is no avoiding what the Bank for International Settlements has just demanded. The top men at that august institution are demanding a global depression. And just to ensure that people especially in the West are thoroughly confused as they slip into starvation and despair, Austrian economics has been brought back into the argument. Free-market proponents didn't cause this disaster. Central bankers did, with their insistence on price fixing and monetary expansion. Determined to control all the elements of globalism, and keep them in place, they printed tens of trillions to stop a meltdown that must inevitably occur. By stretching it out, they prolong the agony for billions." Continue reading →

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The Real New Hope for the Global Middle Class

"The idea is that if people protest loudly enough, monopoly government – Leviathan – shall oblige protestors by revealing its inner workings. We know this is possible because a worldwide transparency organization led by a former World Bank executive tells us it will be so. But we have another idea. Much that is going on in the world today is attributable to what we call the Internet Reformation. Around the world, the powers-that-be are struggling to contain its evolution and impacts. In our view, they probably will not be entirely successful. One can orchestrate protests and violence. But one cannot outrun the sociological impact of digital enlightenment." Continue reading →

Continue ReadingThe Real New Hope for the Global Middle Class