History Repeating

Charles A. Burris: War Crimes, the Holocaust, and Today’s National Security State

"Vocal defenders of the National Security State loudly proclaim that such extra-constitutional intrusions into the privacy of Americans are justified on the grounds of 'national security' because we are at total war with Radical Islam and its alleged supporters. 9/11 changed everything. The rule of law and constitutional safeguards are to be suspended during this national emergency. The Constitution is not a 'suicide pact.' Survival of the state is the only thing that counts. These are precisely the very arguments used by Otto Olendorf, commander of Einsatzgruppe D, and his fellow defendants in their Nuremberg War Crime Trials following World War Two." Continue reading →

Continue ReadingCharles A. Burris: War Crimes, the Holocaust, and Today’s National Security State

U.S. Promises Smooth Transfer of Quagmire from Afghanistan to Syria

"Supporters of the United States’ twelve-year quagmire in Afghanistan cheered the news today that the U.S. would strive to achieve a seamless transfer of that quagmire to Syria, effective immediately. Army Gen. Martin Dempsey, the Chairman of the Joint Chiefs of Staff, sought to reassure those who were concerned that the U.S. withdrawal of troops from Afghanistan signalled a wavering of the nation’s commitment to being mired in open-ended military muddles: 'I am confident that we could be involved in Syria for many, many years before figuring out why we are there.'" Continue reading →

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Welcome to the Real World

"Bond holders were rudely awakened, but other sources of yields took major hits as well, such as REITs and utilities, which have been down over 10% in the last two months. Higher rates are doing those investors a favor – this is officially fair warning of things to come. I'd rather take a 10% loss on bonds or a utility stock now than take an even bigger loss when the Fed pulls rates higher. If you haven't already gravitated to shorter-term maturity bonds, it's time to seriously consider it. The party isn't quite over yet for long-maturity bonds, but the bartender is making the last call. It's time to get out of the bar before you get kicked out." Continue reading →

Continue ReadingWelcome to the Real World

Syrian rebels say they have received anti-tank and anti-aircraft missiles

"Syrian rebels have received heavy weapons -- including anti-tank and anti-aircraft missiles -- from 'brotherly nations that support the Syrian revolution,' a rebel spokesman said Friday. Free Syrian Army political and media coordinator The White House has not publicly specified what steps it would take to support members of Syria's opposition, though sources have told CNN that small arms, ammunition and possibly anti-tank weapons would be part of the assistance package. The White House announcement this month that it was increasing the 'size and scope' of its material support to Syrian rebels came after months of political debate over the U.S. role in the conflict." Continue reading →

Continue ReadingSyrian rebels say they have received anti-tank and anti-aircraft missiles

Cyprus Asks Creditors to Help Biggest Bank

"Cyprus has asked its European partners to help ease a cash crunch at the island's biggest lender, saying this spring's bank-rescue deal was struck 'without careful preparation' and was imperiling its ability to meet budget targets. In a letter sent to European leaders, Cyprus President Nicos Anastasiades said the success of the island's bailout depended on Bank of Cyprus PCL's survival, and he criticized capital controls put in place as part of the deal, which he said are severely damaging the economy. 'I stress the systemic importance of Bank of Cyprus, not only in terms of the banking system but also for the entire economy,' said the letter." Continue reading →

Continue ReadingCyprus Asks Creditors to Help Biggest Bank

Britain’s Co-operative Bank faces nationalisation if junior bondholders reject ‘haircut’

"The Co-operative Bank's rescue recapitalisation needs the support of £1.05bn – or around 80pc – of the holders of £1.3bn of its junior debt or the lender could end up being nationalised. A group of pensioners and other retail investors in the Cooperative Bank are facing massive losses under the rescue. Holders of £370m of permanent interest bearing shares (PIBS) issued by the Co-op and Britannia Building Society before its takeover are expected to have their coupons cancelled, making them effectively worthless. Roughly 7,000 retail investors will be affected and the bank said that, on average, they held less than £1,000 in these bonds." Continue reading →

Continue ReadingBritain’s Co-operative Bank faces nationalisation if junior bondholders reject ‘haircut’

German Government Takes Off Mask, Emerges As Fascist Dictatorship

"The Greek national broadcaster was taken off air in the middle of a programme on Tuesday night without warning, without a public debate or a debate in parliament. A brave group of journalists have rebelled and keep a skeleton service going as a pirate station cheered on by supporters in scenes worthy of a fascist dictatorship. A poll shows two thirds of the Greeks oppose the closure of their national broadcaster, paid for by their taxes. The ERT was shut down by the police following a decree — considered illegal by many — by the EU/ECB/IMF Troika puppet, Greek Prime Minister Antonis Samaras. The move was greeted with applause by the German government." Continue reading →

Continue ReadingGerman Government Takes Off Mask, Emerges As Fascist Dictatorship

Diary of WWII German teenager reveals young lives untroubled by Nazi Holocaust in wartime Berlin

"The 15-year-old Berlin schoolgirl, nicknamed 'Gitti', started keeping a diary in December 1942, when the German capital was being bombed nightly and the Nazi Holocaust was killing thousands. As a trainee secretary, she recorded her daily experiences to improve her stenography skills. Now, some 70 years on, her diary has been published for the first time in Germany and is being hailed as remarkable documentary evidence of how millions of Germans relied on collective indifference to endure the horrors of war and ignore the brutality of the Nazi rule." Continue reading →

Continue ReadingDiary of WWII German teenager reveals young lives untroubled by Nazi Holocaust in wartime Berlin

Bond bubble threatens financial system, Bank of England director warns

"A key Bank of England policymaker has warned of the risks to global financial stability when 'the biggest bond bubble in history' bursts. In a wide-ranging testimony to MPs, Andy Haldane, Bank of England director of financial stability, admitted the central bank's new financial policy committee is taking too long to force banks to hold more capital and appeared to criticise the bank's culture under outgoing governor Sir Mervyn King. Haldane told the Treasury select committee that the bursting of the bond bubble – created by central banks forcing down bond yields by pumping electronic money into the economy – was a risk 'I feel acutely right now'." Continue reading →

Continue ReadingBond bubble threatens financial system, Bank of England director warns

Egypt’s Islamist president cuts diplomatic ties with Syria, urges no-fly zone

"Egypt’s President Mohamed Morsi, in severing ties with Damascus, aims to show solidarity with Western and fellow Arab states opposed to Syria’s regime and also boost his under-fire image at home, analysts said. Morsi, an Islamist from the Muslim Brotherhood, told supporters in a Cairo stadium for a 'Support for Syria' rally on Saturday that he was going to 'definitively' cut diplomatic relations with Syria. The Syrian government on Sunday slammed the decision, accusing Morsi of announcing the cut in ties to deflect attention from domestic crises. Morsi called on the international community to impose a 'no-fly zone' over Syria." Continue reading →

Continue ReadingEgypt’s Islamist president cuts diplomatic ties with Syria, urges no-fly zone