Eagle: Charles Hugh Smith on Speculative Credit Bubbles and Human Misery Created by Complicity of Corrupt Governments and Central Banks

01 Poverty, 03 Economy, 07 Other Atrocities, 09 Justice, 11 Society, Commerce, Commercial Intelligence, Corruption, Federal Reserve, Government, Idiocy, Law Enforcement, World Bank
300 Million Talons...
300 Million Talons…

The Immense (and Needless) Human Misery Caused by Speculative Credit Bubbles   (August 27, 2013)

Financialization and the Neocolonial Model of credit-based exploitation leave immense human suffering in their wake when speculative credit bubbles inevitably implode.

Discussions of the global financial crisis tend to be bloodless accounts of policy and “growth.” This detachment masks the immense and totally needless human misery created by financial engineering. A correspondent with first-hand knowledge of the situation in Cyprus filed this account:

“RE: the Cyprus economic crisis, the politicians are unbowed by the chaos they caused, still behaving as they have always done, preaching populist platitudes, corrupt as ever, unapologetic. A poll showed that 99% of Cypriots believe their government is corrupt.Yesterday, the former president, Demetris Christofias, appeared before a tribunal investigating the causes of the economic collapse. He tried to force the tribunal to do what he told them, saying, “I am not just any witness, I was the President of the Republic for 5 years”. They told him where to get off and he stormed out.

Little hope for this country. Money leaving. Best talent leaving. Foreign investment in a planned energy hub has been hijacked by the politicians. Cyprus is returning back to what it always was: a tourist destination run by shopkeepers and farmers.Sad days. Most people feel betrayed by the politicians and big powers.”

This report highlights a key dynamic of speculative credit/banking bubbles: they require the complicity of central banks and the state. Speculative bubbles based solely on cash have very short lifespans, as the bubble bursts violently as soon as the gamblers' cash has been sucked into the vortex.

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SchwartzReport: War and Hate

01 Poverty, 02 Infectious Disease, 03 Environmental Degradation, 04 Inter-State Conflict, 05 Civil War, 06 Genocide, 07 Other Atrocities, 08 Proliferation, 09 Justice, 09 Terrorism, 10 Security, 10 Transnational Crime, 11 Society, Cultural Intelligence, Government, IO Deeds of War, Military, Officers Call

Endless war is the basis for the abrogation of our civil liberties, the suspension our legal guarantees, and the assault on journalism. It is the cancer that is destroying our democracy, and our passivity is what makes it possible.

Legal War?
WILLIAM BOARDMAN – Nation of Change

We are in the endless war because of the stupidity of American foreign policy beginning with the Reagan Administration, which was notably inept. And, thanks to Dick Cheney and the Neocons, we have transformed what was once a deep affection for Americans in the Arab world, which I experienced in the two years I lived in Egypt in the 70s, into! a deep and abiding hatred which will endure for generations.

They Hate Us, They Really Hate Us
MARC LYNCH, Associate Professor of Political science and International Affairs at George Washington University – Foreign Policy

4th Media: Saudis Pour Money Into Militants

01 Poverty, 04 Inter-State Conflict, 05 Civil War, 07 Other Atrocities, 09 Terrorism, Corruption, Government, IO Deeds of War, Peace Intelligence

4th media croppedSaudi Rulers Pour Money Into Arming Militants in Region

If Saudi rulers had more brains, they might be formidably dangerous. Even with lackluster intelligence assets, they are already causing enough havoc and bloodshed across the Middle East and North Africa regions, pouring millions-of-dollars-worth of weaponry into Al Qaeda and other Takfiri networks that are destroying once proud civilizations in Iraq, Lebanon, Syria and Libya through nihilistic sectarianism.

Click on Image to Enlarge
Click on Image to Enlarge

And if the Saudi paymasters of terrorism could have it all their way, they would salivate at the chance of extending this destruction to Iran – the Shia power that they fear as their nemesis.

Fortunately, the Saudi rulers’ agenda of covert terrorism – an agenda that serves its Western masters – is not well concealed. This is because “Saudi state intelligence” is something of an oxymoron and leaves a trail of self-incriminating clues wherever it goes.

This uncovering of the real authors of regional violence and their motives curtails the plotters and will lead eventually to their downfall through their own damnation.

Take the latest disclosure that the Saudis tried to bribe Russia into abandoning its long-time ally, Syria. Given their own venal form of feudal rule, the Saudis seem to think that everyone else can be bought at a price. Apparently, Saudi Arabia’s intelligence chief Prince Bandar bin Sultan dangled a $15-billion arms deal in front of Russia’s President Vladimir Putin if the latter would jettison his country’s strategic alliance with Syria’s President Bashar al-Assad.

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Milt Bearden: Don’t Be Spooked by Pakistan

01 Poverty, 04 Inter-State Conflict, 05 Civil War, 07 Other Atrocities, 08 Proliferation, 09 Terrorism, 10 Transnational Crime
Milt Bearden
Milt Bearden

Don't Be Spooked by Pakistan

A CIA veteran's prescription for how the United States can get along with an ally it doesn't trust.

Milt Bearden is an author and former career CIA officer who during the 1980s managed the CIA's covert assistance to the Afghan resistance to the Soviet occupation from neighboring Pakistan. He currently consults on resource issues in South Asia.

More than two months after the raid by U.S. Navy SEALS on the Abbottabad compound of Osama bin Laden, the relationship between the United States and Pakistan is at its lowest point in the almost six decades of a rocky, on-again-off-again alliance. The United States has suspended some $800 million in military aid, and the outgoing chairman of the Joint Chiefs of Staff, Adm. Mike Mullen, is traveling to Pakistan this week for what is certain to be a chilly meeting with his counterpart, Pakistani Army Chief Gen. Ashfaq Parvez Kayani.

Maybe these developments are not altogether bad, for amid this turmoil the leaders of both countries, if not their vocal populations, are beginning to understand that a new, interests-based regional partnership must be forged before some political point of no return is crossed. Pakistan and the United States need a new paradigm for cooperation, one that will not only guide the bilateral relationship through the endgame in Afghanistan, but also influence Pakistani and U.S. policies in an Indian Ocean region on the verge of a new Great Game for mineral resources and economic domination.

The main players in that game are India and China; the prizes are Afghan and Pakistani resources and overland trade routes to the Arabian Sea. The United States' role is important, even critical, but it is as yet undefined by American political leaders. Ultimately, the United States may have to shift part of its security and political focus from its Atlantic relationships to the Indian Ocean region.

The mineral resources of Afghanistan and Pakistan — copper, gold, rare-earth elements, iron, the list goes on — will play a major role in driving the hungry Chinese and Indian economies through the 21st century. Afghan minerals alone, valued by the U.S. Geological Survey conservatively at about $1 trillion, could follow a natural route south from Afghanistan through Pakistan's Baluchistan province, itself mineral rich, to the newly completed port at Gwadar on the Arabian Sea. From there, the minerals would find markets in China, India, and the West, producing along the way a greatly expanded Pakistani mining industry and transportation infrastructure, as well as tens upon tens of thousands of jobs for dangerously idle young Baluchi men.

But none of this will likely happen until Pakistan takes a bold leap into the 21st century, shedding its 1947 mindset of believing that it is just a hair trigger away from war with India and that it must at any cost be buttressed against Indian encroachment on its western flank in Afghanistan. To become a player in this new Great Game, Pakistan will first need to rework its relationship with the United States and, following that, with Afghanistan and India.

Received directly from the author — full article below the line.

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Berto Jongman: Al Qaeda’s widening North African jihad confounds foes

01 Poverty, 09 Terrorism, Government, Ineptitude, IO Impotency
Berto Jongman
Berto Jongman

Al Qaeda's widening North African jihad confounds foes

(Reuters) – Inquiries into the bloody assault on an Algerian gas plant are uncovering increasing evidence of contacts between the assailants and the jihadis involved in killing the U.S. ambassador to Libya nearly a year ago.

The extent of the contacts between the militants is still unclear and nobody is sure there was a direct link between the attack on the U.S. consulate in Benghazi and the carnage at In Amenas, where 39 foreign hostages were killed in January.

But the findings, according to three sources with separate knowledge of U.S. investigations, shed some light on the connections between Al Qaeda affiliates stretching ever further across North and West Africa.

The lack of detail, meanwhile, highlights the paucity of intelligence on jihadis whose rise has been fuelled by the 2011 Arab uprisings and who have shown ready to strike scattered Western targets including mines and energy installations.

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Chuck Spinney: Newt Gingrich as Dr. Evil, Bill Clinton as Dr. Lesser [But Still Very] Evil

01 Poverty, 03 Economy, 07 Other Atrocities, 11 Society, Corruption, Government
Jeff St. Claire and the late, and much missed, Alexander Cockburn have written an excellent and important history of how the democrats under Clinton sold out their heritage and, in effect, became the enablers of the Republicans in the construction of the emerging American police.
 
 
WEEKEND EDITION AUGUST 9-11, 2013
 
The Origins of the Neoliberal War on the Poor
 
by JEFFREY ST. CLAIR and ALEXANDER COCKBURN
Counterpunch
 

In November of 1994 two years of ramshackle government, breached pledges and the Clinton administration’s frequently manifested contempt for its traditional base, exacted their price. In the midterm elections Republicans seized control of both the House and the Senate for the first time since the Eisenhower era. The rout extended to governors’ mansions across the country, where the Republicans captured the majority of governorships for the first time in a quarter-century. Newt Gingrich, the new Speaker of the House, became the nation’s political wunderkind.

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Eagle: The Financial System Does Not Just Enable Theft, IT IS THEFT

01 Poverty, 03 Economy, 07 Other Atrocities, 09 Justice, 10 Transnational Crime, 11 Society, Commerce, Corruption, Government
300 Million Talons...
300 Million Talons…

The Financial System Doesn't Just Enable Theft, It Is Theft

It's not just inflation that is theft.

Charles Hugh Smith

Of Two Minds, 31 July 2013

It is painfully self-evident that our financial system doesn't just enable theft, it is theft by nature and design. If you doubt this, please follow along.Inflation is theft, but we accept inflation because we've been persuaded it benefits us. Here's the basic story: our financial system creates new credit money (i.e. debt) in quantities that are only limited by the appetites of borrowers and the value of assets they buy with freshly borrowed money.

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