The Basel Committee on Banking Supervision (hereinafter – the Committee) is closely associated with supranational organisations like the Bank for International Settlements in Basel (BIS), which is often called the «club», the «headquarters» of central banks or the «Central Bank of Last Resort». The Committee’s office is situated in the BIS building.
At the end of 1974, following the disequilibrium of international currencies and banking markets caused by the collapse of the Herstatt Bank in West Germany, the heads of central banks in the G10 countries established the Committee under the auspices of the BIS to develop common international rules with regard to banking supervision.
In his online essay “Digital Maoism: The Hazards of the New Online Collectivism”, in Edge magazine in May 2006, Lanier criticized the sometimes-claimed omniscience of collective wisdom (including examples such as the Wikipedia article about himself), describing it as “digital Maoism“.[11] He writes “If we start to believe that the Internet itself is an entity that has something to say, we're devaluing those people [creating the content] and making ourselves into idiots.”[11]
His criticism aims at several targets which concern him and are at different levels of abstraction:
It’s not every day that a scientist creates such intense drama on Capitol Hill.
Kelly Vlahos
The American Conservative, 10 May 2013
Veterans of War Betrayed by Their Own Government
But Dr. Steven S. Coughlin’s charges that the U.S. Department of Veterans Affairs (VA) officials hid, manipulated, and even lied about research pertaining to Gulf War Illness (GWI) and health problems plaguing Iraq and Afghanistan veterans are still causing fallout a month after his stunning testimony before a key House subcommittee.
“The implications of his testimony are profound,” declared Anthony Hardie, 45, a Gulf War veteran who serves on the congressionally appointed Research Advisory Committee on Gulf War Veterans’ Illnesses (RAC).
Veterans and their advocates, as well as many in the scientific community, have long believed that the VA avoids responsibility for veterans’ care by downplaying or outright ignoring evidence linking wartime experiences—such as exposure to Agent Orange, chemical weapons, or toxic pollution—to veterans’ chronic medical issues back home.
Coughlin, a senior epidemiologist with the VA’s Office of Public Health (OPH), gave the VA’s critics what they say is a smoking gun: after conducting major surveys of 1991 Gulf War veterans and “New Generation” veterans from Operation Iraqi Freedom and Operation Enduring Freedom-Afghanistan, Coughlin told the committee he quit his post in December. He claims the VA is hiding important survey results about the health of veterans and that his colleagues watered-down analysis that might have shed light on whether recent vets got sick from open-air trash-burning pits on overseas bases.
He told the House Committee on Veterans’ Affairs Subcommittee on Oversight and Investigations on March 13 that millions of dollars are invested in veterans’ heath studies each year, yet “if the studies produce results that do not support [OPH’s] unwritten policy, they do not release them.” And “on the rare occasions when embarrassing study results are released, data are manipulated to make them unintelligible.”
Tax avoidance, secret mining deals and financial transfers are depriving Africa of the benefits of its resources boom, ex-UN chief Kofi Annan has said.
BBC 10 May 2013
Firms that shift profits to lower tax jurisdictions cost Africa $38bn (£25bn) a year, says a report produced by a panel he heads.
“Africa loses twice as much money through these loopholes as it gets from donors,” Mr Annan told the BBC.
It was like taking food off the tables of the poor, he said.
Under-pricing deprives Africa of much-needed money, the report says
The Africa Progress Report is released every May – produced by a panel of 10 prominent figures, including former Nigerian President Olusegun Obasanjo and Graca Machel, the wife of South African ex-President Nelson Mandela.
African countries needed to improve governance and the world's richest nations should help introduce global rules on transparency and taxation, Mr Annan said.
The report gave the Democratic Republic of Congo as an example, where between 2010 and 2012 five under-priced mining concessions were sold in “highly opaque and secretive deals”.
This figure was equivalent to double DR Congo's health and education budgets combined, the report said.
Knok, the fastest growing home exchange community, shows that house swapping is the perfect example of collaborative consumption.
(PRWEB) May 08, 2013
This year has seen the consolidation of the sharing economy and several conferences around this theme confirm it. In April, 150 sharing economy leaders joined author and organizer Lisa Gansky in San Francisco for Let's Mesh. In May, the OuiShareFest in Paris brought together over 500 people from all over Europe, and in June, the sharing economy is Le Web’s theme for its London event.
After the output of these events and the discussions on the future of the sharing economy with practitioners around the world, Knok has created a list of the 7 most relevant reasons why home exchange is a great example of a collaborative consumption business:
Phi Beta Iota: Both articles are posted in full below for our viewers that prefer not to click through.
Here is an extraordinary breakthrough in medicine. It reminds me of the work done by by Dr. Barry Marshall and Dr. Robin Warren of Perth, Western Australia in the late 70s and early 80s that established a bacterium called Helicobacter pylori (H. pylori) is a major cause of peptic ulcers. If you have low back pain you might discuss this with your physician. This is very good news.
Up to 40% of patients with chronic back pain could be cured with a course of antibiotics rather than surgery, in a medical breakthrough that one spinal surgeon says is worthy of a Nobel prize.
Surgeons in the UK and elsewhere are reviewing how they treat patients with chronic back pain after scientists discovered that many of the worst cases were due to bacterial infections.
The shock finding means that scores of patients with unrelenting lower back pain will no longer face major operations but can instead be cured with courses of antibiotics costing around £114.
One of the UK's most eminent spinal surgeons said the discovery was the greatest he had witnessed in his professional life, and that its impact on medicine was worthy of a Nobel prize.
“This is vast. We are talking about probably half of all spinal surgery for back pain being replaced by taking antibiotics,” said Peter Hamlyn, a consultant neurological and spinal surgeon at University College London hospital.
China-North Korea: Update. China's Foreign Ministry declined Wednesday, 8 May, to confirm the Bank of China's closure of the account of the North Korean Foreign Trade Bank. In response to a question at Wednesday's news conference, Ministry spokeswoman Hua Chunying said, “For specifics, please refer it to competent Chinese authorities.”
Sources of the Daily NK reported that since 7 May, “other Chinese state banking entities including China Construction Bank have apparently ceased business dealings with North Korean financial entities as well. The banks did so in accordance with guidance handed down by the China Banking Regulatory Commission, and as such is actually a policy of the Chinese government.”
Comment: If the Chinese are exerting economic pressure against North Korea as punishment for refusing to listen to guidance, some reaction by North Korea should become evident soon. Such action would represent a strategic change in China's relationship with North Korea. More on this later.
