What is very interesting about this is that Mack is the only guy on Wall Street the Chinese leadership really trusts. There is no real difference between Goldman Sachs, Citi-Bank (the original Black Eagle Trust holder) and Morgan, although Mack does seem considerably more classy, and perhaps more able to get a grip on reality going into the future.
Riyadh, Asharq Al-Awsat- There are around 47 million Muslims in Russia, which means that Muslims make up around one third of Russia’s overall population. This figure is expected to rise to 50 percent by 2050 due to the high birth rate among the Muslim community, the decrease in the non-Muslim Russian population which is decreasing at a rate of 1 million people per year, as well as the immigrations of Muslims from central Asia into the Russian Federation. The Islamic presence in Russia is centered in the Caucasus, Siberia, and Moscow.
LAHORE, Pakistan — Pakistan will face a “demographic disaster” if it does not address the needs of its young generation, the largest in the country’s history, whose views reflect a deep disillusionment with government and democracy, according to a report released here on Saturday.
According to a panel of experts at a recent conference sponsored by the Center for a New American Security, terrorism and crime have now merged, to such an extent that all terrorist movements – all of them — have become partly criminal organizations to fund their operations, expand their reach – and incidentally make the people on top extremely rich, while lower-level zealots continue to be recruited for suicide missions.
WASHINGTON — The United States government is financing its more than trillion-dollar-a-year borrowing with i.o.u.’s on terms that seem too good to be true. But that happy situation, aided by ultralow interest rates, may not last much longer. Treasury officials now face a trifecta of headaches: a mountain of new debt, a balloon of short-term borrowings that come due in the months ahead, and interest rates that are sure to climb back to normal as soon as the Federal Reserve decides that the emergency has passed.
‘A government report on the bailout of A.I.G. is must reading for taxpayers looking to know why the $182 billion “rescue” is the most troubling episode of the financial disaster.’) … The Fed, under Mr. Geithner’s direction, caved in to A.I.G.’s counterparties, giving them 100 cents on the dollar for positions that would have been worth far less if A.I.G. had defaulted. Goldman Sachs, Merrill Lynch, Société Générale and other banks were in the group that got full value for their contracts when many others were accepting fire-sale prices.
WASHINGTON — Suddenly the Federal Reserve is everybody’s punching bag. … Strip the Fed of its bank regulation powers, some in Congress are demanding. Get probing audits of its behind-the-scenes operations, others say.
Phi Beta Iota: We are NOT making this up. People from around the world are starting to send us this stuff, and we love it–this clearly demonstrates the power of public intelligence in the aggregate, and the importance of multiniational information-sharing and multinational sense-making, the bulk of which is not now and never will be “secret.” We would not be at all surprised to start seeing Goldman Sachs and Bank of New York executives dying like flies, with former Secretaries of the Treasury and Chairs (and NY Governors) of the Federal Reserve having pride of place on the hit list. The Russians and Chinese (and soon the Indians) all have a right to take “extreme exception” to the state-sponsored crimes the above document discusses.
BullionVault says: Accredited custodians only take in bars from other accredited vaults, and metal only enters the system from accredited refiners. Even when they bear the correct bar stamps, large gold bars are not usually accepted from people outside the Good Delivery circuit, which is why taking a Good Delivery bar into private possession seriously dents its value.
Phi Beta Iota: Hubris cannot be discounted, and since the Federal Reserve is part of the Good Delivery Circuit and its integrity has been severely impugned, this issue must join the matter of pre-9-11 gold evacuation from the World Trade Center as requiring further investigation.
Corruption threatens global economic recovery, greatly challenges countries in conflict
Berlin, 17 November 2009
As the world economy begins to register a tentative recovery and some nations continue to wrestle with ongoing conflict and insecurity, it is clear that no region of the world is immune to the perils of corruption, according to Transparency International’s 2009 Corruption Perceptions Index (CPI), a measure of domestic, public sector corruption released today.
“At a time when massive stimulus packages, fast-track disbursements of public funds and attempts to secure peace are being implemented around the world, it is essential to identify where corruption blocks good governance and accountability, in order to break its corrosive cycle” said Huguette Labelle, Chair of Transparency International (TI).
Afghanistan slips in corruption index despite aid
BERLIN – Afghanistan has slipped three places to become the world’s second most-corrupt country despite billions in aid meant to bolster the government against a rising insurgency, according to an annual survey of perceived levels of corruption.
Only lawless Somalia, whose weak U.N.-backed government controls just a few blocks of the capital, was perceived as more corrupt than Afghanistan in Transparency International’s Corruption Perceptions Index.
Iraq saw some improvement, rising to 176 of 180 countries, up two places up from last year. Singapore, Denmark and New Zealand were seen as the least corrupt countries in the list based on surveys of businesses and experts.
Phi Beta Iota: We have been highlighting our couinterintelligence deficiencies since the 1990’s, primarily focused on the need for religious counterintelligence, but also on the need to recognize that sub-state and non-state groups are legitimate threats in and of themselves. Today the US military it thoroughly penetrated by multiple networks from Opus Dei and the Mormons to radical Islamics and plain street gangs happy to not only receive advanced training, but access to easily stolen weapons–one of the dirty little secrets of the US military is how little control it has over the primary weapon of mass destruction on the planet, small arms (which we also like to sell liberally to anyone with cash and especially dictators).
Time for change – Water saving – Ecademy Identify the true cost of water. Do you know how much your business spends on water per annum or how much is water costing you? Check your water bills for the last 3 years and note the annual consumption and cost. …
TURN IN THESE CIA FUGITIVES : They’ll get 5-8 Years
By Carolyn Keuhn
NOV.4, 2009: Italy convicted 23 CIA rendition perps. All could be imprisoned if they leave the US.
An Italian judge on November 4, 2009, convicted 23 CIA agents and two Italian agents over their role in the 2003 kidnapping of a Muslim cleric. Milan judge Oscar Magi sentenced former Milan CIA station chief Bob Seldon Lady (on left in PHOTO with Luciano Pironi) to 8 years and 22 other agents (PHOTOS) to 5 years in prison for their role in the abduction of Osama Moustafa Hassan Nasr, also known as Abu Omar. Also convicted was Air Force Colonel Joseph Romano (COLOR PHOTO), who was responsible for the CIA kidnapping team’s flight to Egypt from a U.S. air base in Italy.
CONTACT: Interpol, the international police agency, by email or at this FAX number in Switzerland: +33 4 72 44 71 63. (Refer to the warrant number given in the Robert Lady photo caption.) Or contact your local or national police.
The US is shielding the perps, whose names and PHOTOS are shown [at original source].
On May 4, the Obama administration announced a plan to crack down on offshore tax havens, which it said are costing the United States tens of billions of dollars each year. The President’s proposals were primarily aimed at finding ways to increase revenue from wealthy companies and investors who use loopholes in the law and offshore subsidiaries to reduce their US taxes. But the administration is largely missing a far more devastating problem related to offshore finance: money gained from criminal and other illicit sources. With the use of tax havens and other elements of an increasingly complex ‘shadow’ financial network, vast sums of illegal money are being shifted throughout the global economy virtually undetected.
Phi Beta Iota: The illicit global economy is at least two trillion dollars a year against a seven trillion dollar a year legitimate economy, and the latter is both full of legal crime and legal tax avoidance, as well as focused on the one billion rich rathyer than the five billion poor. One of the many dirty not-so-little secrets about Wall Street is that it relies heavily on laundered drug money for its liquidity; another is that the banking community has been all too happy to manage the funds of dictators and war lords and others. Below are just three of the many books we recommend in this area.