Mainstream News

Banking group warns there’s too much ‘easy money’ in global economy

"An influential group of leading world banks warned Thursday that central banks are pumping out too much easy money and markets risk becoming dangerously addicted to ultra-low interest rates. The Institute of International Finance, which groups 450 banks, said if central banks continue to flood money into the global economy then any future bid to get it under control could itself destabilize the financial system. 'These conditions — quantitative easing, very low interest rates — cannot last forever, but the risk is that financial markets have become addicted to them,' it warned." Continue reading →

Continue ReadingBanking group warns there’s too much ‘easy money’ in global economy

Bank of England Says Government Should Split Up RBS, Accept Loss

"Bank of England Governor Mervyn King urged the government to split up Royal Bank of Scotland Group Plc (RBS) and speed up the return of Britain’s biggest publicly owned lender to private ownership following its bailout in 2008. 'We’re four and half years on and there’s no sign of it going back to the private sector,' King told the Parliamentary Commission on Banking Standards at a hearing in London today. 'That indicates we’ve not been sufficiently decisive in recapitalizing or restructuring it.' RBS has been criticized by lawmakers for failing to boost lending to the economy, even though the taxpayer owns more than 80 percent of the lender." Continue reading →

Continue ReadingBank of England Says Government Should Split Up RBS, Accept Loss

President Obama’s Brother Loses Election in Kenya

"President Barack Obama’s half-brother, Abong’o Malik Obama, won’t be the second member of his family to launch a political career. Mr. Obama was defeated in his bid to be governor of Kenya’s Siaya County this week by what seems to have been a very large margin. Mr. Obama is the eldest child of President Obama’s father. They have different mothers. Mr. Obama served as the best man at the president’s wedding to Michelle Obama in 1992." Continue reading →

Continue ReadingPresident Obama’s Brother Loses Election in Kenya

New sanctions on Iran introduced to Congress

"The bipartisan House bill would allow President Barack Obama to impose penalties on foreign entities that provide Iran with goods to help maintain its struggling economy. The Nuclear Iran Prevention Act of 2013 also would provide Obama with broader authority to target strategic imports, such as mining or power generating equipment that could help Iran with its nuclear program, which the West and Israel say is a front for weapons development. The bill would designate the Iranian Revolutionary Guard Corps as a foreign terrorist organization." Continue reading →

Continue ReadingNew sanctions on Iran introduced to Congress

New sanctions on Iran introduced to Congress

"The bipartisan House bill would allow President Barack Obama to impose penalties on foreign entities that provide Iran with goods to help maintain its struggling economy. The Nuclear Iran Prevention Act of 2013 also would provide Obama with broader authority to target strategic imports, such as mining or power generating equipment that could help Iran with its nuclear program, which the West and Israel say is a front for weapons development. The bill would designate the Iranian Revolutionary Guard Corps as a foreign terrorist organization." Continue reading →

Continue ReadingNew sanctions on Iran introduced to Congress

U.S. Keeps Nuclear First-Strike Option [2010]

"The Obama administration will release a new national nuclear-weapons strategy Tuesday that makes only modest changes to U.S. nuclear forces, leaving intact the longstanding U.S. threat to use nuclear weapons first, even against non-nuclear nations. But the new policy will narrow potential U.S. nuclear targets, and for the first time makes explicit the goal of making deterrence of a nuclear strike the 'sole objective' of U.S. nuclear weapons, a senior Obama administration official said Monday." Continue reading →

Continue ReadingU.S. Keeps Nuclear First-Strike Option [2010]

U.S. Keeps Nuclear First-Strike Option [2010]

"The Obama administration will release a new national nuclear-weapons strategy Tuesday that makes only modest changes to U.S. nuclear forces, leaving intact the longstanding U.S. threat to use nuclear weapons first, even against non-nuclear nations. But the new policy will narrow potential U.S. nuclear targets, and for the first time makes explicit the goal of making deterrence of a nuclear strike the 'sole objective' of U.S. nuclear weapons, a senior Obama administration official said Monday." Continue reading →

Continue ReadingU.S. Keeps Nuclear First-Strike Option [2010]

New sanctions against North Korea after threat of pre-emptive nuclear strike

"The resolution expresses 'gravest concern' over the nuclear test and adds three new individuals, a government science academy and trading company to the UN blacklist for a travel ban and assets freeze. The Security Council had also banned exports of luxury goods but this resolution for the first time says that certain jewelery, yachts and luxury and racing cars must be banned. North Korea blasted the United States and South Korea over military exercises which have just started in the South. The North said earlier this week that it would withdraw on Monday from the armistice that halted the 1950-53 Korean War." Continue reading →

Continue ReadingNew sanctions against North Korea after threat of pre-emptive nuclear strike

New sanctions against North Korea after threat of pre-emptive nuclear strike

"The resolution expresses 'gravest concern' over the nuclear test and adds three new individuals, a government science academy and trading company to the UN blacklist for a travel ban and assets freeze. The Security Council had also banned exports of luxury goods but this resolution for the first time says that certain jewelery, yachts and luxury and racing cars must be banned. North Korea blasted the United States and South Korea over military exercises which have just started in the South. The North said earlier this week that it would withdraw on Monday from the armistice that halted the 1950-53 Korean War." Continue reading →

Continue ReadingNew sanctions against North Korea after threat of pre-emptive nuclear strike

Budget Cuts Could Pull Navy Out of The War on Drugs

"Currently the Oliver Hazard Perry-class frigates USS Gary (FFG-51) and Thach (FFG-43) patrol the Caribbean and the eastern Pacific looking for drug runners using either high-speed 'go-fast,' boats or slow-moving, hard-to-detect drug submarine-like craft to smuggle hundreds of tons of cocaine and other drugs from South America into the United States. With the frigates out of the picture, the amount of drugs entering the country will increase, U.S. Coast Guard Commandant Adm. Robert Papp told USNI News following Tuesday’s State of the Coast Guard address." Continue reading →

Continue ReadingBudget Cuts Could Pull Navy Out of The War on Drugs