FATCA and the End of Bank Secrecy

"It seems that there is little understanding that it was banking secrecy that helped to resist twentieth-century dictatorships and that high tax rates — not money havens — are responsible for tax evasion, as Prince Hans-Adam of Lichtenstein has pinpointed. Clearly the amount of information collected for the purpose of future tax investigation is enormous, leaving little place for human privacy and dignity." Continue reading

Continue ReadingFATCA and the End of Bank Secrecy

U.S. says it did not sanction holding Glenn Greenwald’s partner at Heathrow

"The White House spokesman confirmed that Britain alerted the US authorities after Miranda’s name appeared on a passenger manifest of a flight from Berlin to Heathrow on Sunday morning. 'I think that is an accurate interpretation of what a heads up is,' Earnest said. He would not rule out whether the US authorities had been passed any information from Miranda’s electronic equipment seized at Heathrow, which included his phone, laptop, memory sticks, DVDs and games consoles. 'I’m not in a position to do that right now,' Earnest replied." Continue reading

Continue ReadingU.S. says it did not sanction holding Glenn Greenwald’s partner at Heathrow

U.S. officials: We didn’t ask the UK to detain Greenwald’s partner

"U.S. officials did not ask the British government to question the partner of the journalist who first reported secrets leaked by fugitive U.S. intelligence agency contractor Edward Snowden, the White House said on Monday. British authorities did, however, give their U.S. counterparts a 'heads up' before detaining the partner of American journalist Glenn Greenwald, Brazilian David Miranda, the White House said. 'This was a decision that they made on their own, and not at the request of the United States,' White House spokesman Josh Earnest told reporters at a briefing. 'This is something that they did independent of our direction,' he added." Continue reading

Continue ReadingU.S. officials: We didn’t ask the UK to detain Greenwald’s partner

Greenwald vows to release UK secrets after 9-hour detention of his partner

"The journalist who first published secrets leaked by fugitive former U.S. intelligence agency contractor Edward Snowden vowed on Monday to publish more documents and said Britain will be 'sorry' for detaining his partner for nine hours. British authorities used anti-terrorism laws on Sunday to detain David Miranda, partner of U.S. journalist Glenn Greenwald, as he passed through London’s Heathrow airport. Greenwald said the detention was an attempt to intimidate him for publishing documents leaked by Snowden disclosing U.S. surveillance of global internet communications. Snowden gave Greenwald from 15,000 to 20,000 documents." Continue reading

Continue ReadingGreenwald vows to release UK secrets after 9-hour detention of his partner

The Real State Secret: Spies Aren’t Very Good At Their Jobs

"It doesn't matter whether you hate the spies and believe they are corroding democracy, or if you think they are the noble guardians of the state. In both cases the assumption is that the secret agents know more than we do. But the strange fact is that often when you look into the history of spies what you discover is something very different. I want to tell some stories about MI5 - and the very strange people who worked there. They are often funny, sometimes rather sad - but always very odd. The stories also show how elites in Britain have used the aura of secret knowledge as a way of maintaining their power." Continue reading

Continue ReadingThe Real State Secret: Spies Aren’t Very Good At Their Jobs

Andrew Sullivan Change Of Heart: ‘Cameron Proves Greenwald Right’

"I can say this to David Cameron. Thank you for clearing the air on these matters of surveillance. You have now demonstrated beyond any reasonable doubt that these anti-terror provisions are capable of rank abuse. Unless some other facts emerge, there is really no difference in kind between you and Vladimir Putin. You have used police powers granted for anti-terrorism and deployed them to target and intimidate journalists deemed enemies of the state. You have proven that these laws can be hideously abused. Which means they must be repealed. You have broken the trust that enables any such legislation to survive in a democracy." Continue reading

Continue ReadingAndrew Sullivan Change Of Heart: ‘Cameron Proves Greenwald Right’

India’s Worst Economic Crisis Since 1991 When It Had To Airlift 67 Tons Of Its Gold

"At the time, the country had secured a $2.2bn loan, backed by 67 tons of gold reserves. To satisfy the IMF's concerns about access to the collateral, the RBI had to airlift 47 tons of gold to be deposited offshore with the Bank of England and 20 tons of gold with UBS. While such action is unlikely this time around, if the crisis continues to escalate, Asia's third largest economy will struggle to grow. Even though economists still do not expect a contraction, it is now a real possibility. Some weakening of the rupee may have been desirable for exporters, but losing control of the exchange rate was not what the RBI had in mind." Continue reading

Continue ReadingIndia’s Worst Economic Crisis Since 1991 When It Had To Airlift 67 Tons Of Its Gold

IMF Historian Whitewashes The Soviet Spy Career Of The Fund’s Founder

"President Harry S. Truman’s efforts to keep secret the FBI’s investigation of FDR official Harry Dexter White’s illegal activities was the reason why White never became managing director of the Fund – and indeed the reason why the tradition of a European heading the Fund, rather than an American, began in the first place. What Truman, and indeed the FBI, had been unaware of in 1946 was that intercepted wartime Soviet intelligence cables would establish White’s culpability. Decrypting of such cables, part of the top-secret 'Venona Project,' took place over many decades, and the first one mentioning White’s activities was not known to the FBI before 1950." Continue reading

Continue ReadingIMF Historian Whitewashes The Soviet Spy Career Of The Fund’s Founder

US and Germany to enter no-spying agreement, German government says

"The no-spying agreement talks were announced as part of a progress report on an eight-point program proposed by German Chancellor Angela Merkel in July with measures to better protect the privacy of German citizens. Despite the criticism of government surveillance programs, Merkel said people should not forget that intelligence agencies do important work to protect people in Germany as well as abroad. German information, for instance, can prevent attacks on U.S. soldiers in Afghanistan, while American data in turn can be used to protect the lives of German soldiers, she said." Continue reading

Continue ReadingUS and Germany to enter no-spying agreement, German government says

Doctors Without Borders closes all operations in Somalia after 22 years

"Somalia’s embattled government, selected in November in a UN-backed process, was hailed at the time by the international community as offering the best chance for peace in Somalia since the collapse of central government in 1991. A 17,700-strong African Union force fighting alongside the national army has forced Shebab fighters from a string of towns in the past two years. But Somalia’s often rag-tag security forces, incorporating multiple militia forces into its ranks, has also been repeatedly accused by rights groups of a string of abuses." Continue reading

Continue ReadingDoctors Without Borders closes all operations in Somalia after 22 years