By greydogg, 99GetSmart
* FINANCIAL FRAUD: WHEN GATEKEEPERS SEE NO EVIL, HEAR NO EVIL AND SPEAK NO EVIL
By Naomi Wolf, The Guardian
Last fall, I argued that the violent reaction to Occupy and other protests around the world had to do with the one-percenters’ fear of the rank and file exposing massive fraud if they ever managed get their hands on the books. At that time, I had no evidence of this motivation beyond the fact that financial system reform and increased transparency were at the top of many protesters’ list of demands.
But this week presents a sick-making trove of new data that abundantly fills in this hypothesis and confirms this picture. The notion that the entire global financial system is riddled with systemic fraud and that key players in the gatekeeper roles, both in finance and in government, including regulatory bodies, know it and choose to quietly sustain this reality is one that would have only recently seemed like the frenzied hypothesis of tinhat-wearers, but this week’s headlines make such a conclusion, sadly, inevitable.
The New York Times business section on 12 July shows multiple exposes of systemic fraud throughout banks: banks colluding with other banks in manipulation of interest rates, regulators aware of systemic fraud, and key government officials (at least one banker who became the most key government official) aware of it and colluding as well. […]
* LIBOR IS NOT THE ONLY MANIPULATED ECONOMIC NUMBER
Source: Washington’s Blog
Many Other Core Economic Figures Manipulated As Well
The Telegraph noted Monday:
[Bank of England executive] Paul Tucker told MPs that Barclays’ abuse of the Libor system may be only one part of the banks’ dishonesty over crucial financial information, suggesting that other markets should now be investigated.
An official inquiry into Libor – which helps determine interest rates for householders and businesses – should be broadened to include several over markets where banks are trusted to report their own data, he said.
The Libor scandal could be repeated in a number of other “self-certifying” markets where prices are determined, he said.
“Self-certification is clearly open to abuse, so this could occur elsewhere,” he said.
A Financial Services Authority inquiry into Libor should be extended to other self-certifying markets, he said. The Treasury said last night that the review, led by Martin Wheatley, was free to examine markets other than Libor.
An expansion of the FSA review could take in a number of other interest-rate-related data as well as some complex financial instruments measuring the difference between banks’ borrowing costs and that of the US government. [i.e. the Ted spread]. Some markets in gold and oil are also based on self-certification.
* CAN CO-OPERATIVES CROWD OUT CAPITALISM?
By Wayne Ellwood, New Internationalist
In the eyes of the mainstream media and the high priests of the free market, Argentina just doesn’t get it. This past May, the country was savaged by the international business press for nationalizing the Spanish-owned oil company, YPF. Scarcely mentioned was the fact that Argentina’s oil and gas industry was only ‘privatized’ in the late-1990s under pressure from the International Monetary Fund (IMF) and other hardline enforcers of then fashionable neoliberal economic policies. Like many countries around the world, Argentina’s oil industry used to be state-owned.
Back in 2001, the knives were out again. After years of enforced austerity and ‘structural adjustment’ the resource-rich South American country was awash in debt, crippling inflation, staggering unemployment and negative economic growth. (Notice any parallels with present day Greece and Spain?) The IMF’s prescription for setting the economy right – ‘flexible’ labour conditions, deregulation, loosening of capital controls, privatization of state-owned assets, devaluation of the national currency – only made things worse.
With inflation raging and tens of thousands of workers on the streets, the government finally called it quits, defaulting on its debt and devaluing its currency. Predictably, the kingpins of global finance went ballistic, warning that Argentina would sink into penury and chaos.
It didn’t happen. Over the next decade the country’s GDP grew by nearly 90 per cent, the fastest in Latin America. Poverty fell and employment rose steadily while government spending on social services slowly increased. […]
* THE FINANCIAL SYSTEM’S ROTTEN HEART
By Carl Bloice, BlackCommentator
The Conservative Party head of the British government, Prime Minister David Cameron, condemned the “spivvy and probably illegal” activity of Barclays and other banks involved in fixing interest rates. The Chancellor of the Exchequer, (treasury secretary) George Osborne, called the Barclays affair “symptomatic of a financial system that elevated greed above all” and “brought economy to its knees.” Andrew Rawnsley, the Observer newspaper’s chief political commentator, wrote about “the moral cesspit of the City” (what we call Wall Street), which he said should make the case “for radical reform of how we do capitalism,” adding that the country’s bankers are “greedy, reckless and incompetent” and “shameless” and that “they fleece their customers” and as a result “our whole society has been warped.” Financial Times associate editor, John Gapper, wrote that the UK is plagued by “a set of too-big-to-fail investment banks in which amoral behavior is deeply embedded.” The paper derided what it called “the rotten heart of the financial system” engaged in “nothing less than a long-running confidence trick played on the public for personal and institutional advantage,” adding, “This was market-rigging on a grand scale. It is hard to think of anything more damning – or more corrosive of the reputation of capitalism.” The editors of the Guardian thundered “our own society – and economy – have been warped and corrupted” by the banks’ behavior.
Against this backdrop, Rolling Stone’s sharp economics writer, Matt Taibbi, asked out loud last week: “Why is Nobody Freaking Out About the LIBOR Banking Scandal?” “This story is so outrageous that it shocks even the most cynical Wall Street observers,” he wrote July 3.
The major U.S. media have pretty much ignored or downplayed the story that unfolds nightly on the BBC – the story of what the British government’s Business Secretary, Vince Cable, said unmasked “a moral quagmire of almost biblical proportions.” […]
* VIOLENCIA POLICIAL DE REGIMEN DE RAJOY EN NUPTUNO, MADRID 13 DE JULIO 2012
La violencia del regimen no tiene limites la represión en todo el estado español crece.
* LA POLICIA DEL REGIMEN GOLPEA BRUTALMENTE EN LA CABEZA A UN HOMBRE FREEAS, MADRID 13 DE JULIO 2012
La policia del regimen apalea a un hombre que protestaba en la sede del PSOE, sin mediar palabra se encontraba alli parado, cuando fue golpeado brutalmente en la cabeza y empujado posteriormente por el UIP, donde callo desmallado.
* HEALTH RANGER’S INTELLIGENCE ANALYSIS OF MILITARY DRONES: PAYLOADS, CONTERMEASURES AND MORE
By Mike Adams, Natural News
Today across America, we’re witnessing an explosion in the planned deployment of spy drones, military drones and surveillance drones, both for law enforcement use and military use. The FAA has granted permission for tens of thousands of drones to be flown in the skies of America, and companies like Raytheon are working on tiny munitions (missiles) that can be carried by single-shot drones. What follows is my personal analysis of near-future drone capabilities and countermeasures, extrapolated from information found in public articles as well as my personal knowledge of military and law enforcement tactics and mission profiles.
Drones are now being weaponized in America. As reported in AINonline (http://www.ainonline.com/aviation-news/2012-07-08/raytheons-purpose-b…)
Raytheon’s new small tactical munition (STM), which the U.S. group claims is the first purpose-built weapon for tactical unmanned air systems (UAS), could be in active service within a few months. The STM is 22 inches long, 3.6 inches in diameter and weighs 13.5 pounds, and could be used on a UAS with a payload as low as 50 to 60 pounds.
This development, combined with the incredible expansion of the surveillance police state which already monitors all phone calls, emails, social networking activities and website searches, means that the “Rise of the Machines” will likely take place with small flying robots rather than the bipedal machines depicted in “Terminator.”
If you want to see how far these drones have come in just the last few years, check out this astonishing video entitled “Aerobot’s new design – The Ring – Dodecacopter”
And take a look at this video of the Stalker drone built by Lockheed Martin:
* THIS IS WHAT DEMOCRACY LOOKS LIKE