Posts Tagged ‘United States’

Chaos in Libya: How the US-NATO War Destabilized North Africa and Now Threatens Europe…

Posted on 2014 05, 20 by rockingjude

US Pushes Cyber-war Confrontation with China…

Posted on 2014 05, 20 by rockingjude

A must read about the possibility of Cyber – war and China please read: Threat Vector by Tom Clancy~rockingjude

cyberwar

By Patrick Martin

Global Research, May 20, 2014

A federal grand jury has indicted five officers of the Chinese Peoples Liberation Army on computer hacking, economic espionage and other charges, officials of the US Department of Justice announced at a press conference Monday morning.

The indictment is unprecedented under international law, as it aims to criminalize actions allegedly carried out not by individual hackers, or “rogue” elements, but by serving officers in the armed forces of a major country. It is calculated to provoke a confrontation between the US and Chinese governments.

“These represent the first ever charges against known state actors for infiltrating US commercial targets by cyber means,” Attorney General Eric Holder said at the press briefing, emphasizing that the Obama administration was undertaking a major escalation in its anti-China policy. “The range of trade secrets and other sensitive business information stolen in this case is significant and demands an aggressive response.”

The five men, named as Wang Dong, Sun Kailiang, Wen Xinyu, Huang Zhenyu, and Gu Chunhui, are said to be officers in Unit 61398 of the Third Department of the Chinese People’s Liberation Army, based in Shanghai. Each faces 31 counts of computer and economic crimes. While none is in US custody, the charges would carry lengthy prison sentences.

The alleged targets of the hacking include Westinghouse Electric Co., United States Steel, Alcoa Inc., Allegheny Technologies Inc. (ATI), U.S. subsidiaries of SolarWorld AG, and the United Steel Workers union, which represents some workers at those companies.

Westinghouse is the major US builder of nuclear power plants, and built four such facilities in China in 2010-2011. The other companies entered into production agreements with Chinese companies during that time, or were engaged in trade litigation, as was the USW. The Chinese officers supposedly used cyber-warfare techniques to gain access to internal e-mails and other confidential materials at all six organizations.

Are the U.S. Dollar’s Days Really Numbered?…

Posted on 2014 05, 20 by rockingjude

By Desmond Lachman Monday, May 19, 2014

The U.S. dollar will remain the world’s reserve currency because no other major currency offers such liquidity, depth of financial markets, and store of value.

Some years ago, I attended a small luncheon on the outlook for the U.S. dollar. Paul Volcker, the former Federal Reserve chairman, was the guest of honor. In response to a chorus of Cassandras who argued that the U.S. economy’s all too apparent weaknesses wouldlead to an inevitable dollar collapse, Volcker made a simple observation: For the dollar to depreciate, he said, it would necessarily have to depreciate against another currency. And in Volcker’s view, at that time, the U.S. economy was fundamentally no weaker than that of any competing countries.

Volcker’s logic would seem equally pertinent today in responding to the many critics who believe that the Federal Reserve’s unprecedented quantitative easing policy will lead to the dollar’s imminent demise as a reserve currency. If the dollar is to lose its reserve status, as epitomized by the fact that more than 60 percent of the world’s foreign exchange and more than 85 percent of world trade is still denominated in U.S. dollars, some other currency would need to replace it. A close examination of the world’s other major currencies reveals that a currency is yet to emerge that offers the liquidity, depth of financial markets, andstore of value that the U.S. dollar does.

To be sure, when viewed in isolation, there are many reasons not to be complacent about the U.S. dollar’s long-run future. After all, the U.S. economy is only now emerging from its worst economic and financial crisis since the 1930s. At the same time, itsdysfunctional political system is yet to come to grips with the country’s long-term budget issues, while the Federal Reserve has more than quadrupled the size of its balance sheet to its present level of around $4 trillion in an effort to get the U.S. economy moving again.

Russia Holds “De-Dollarization Meeting”: China, Iran Willing To Drop US Dollar From Bilateral Trade

Posted on 2014 05, 20 by rockingjude
Russian currency: The Ruble

Russian currency: The Ruble (Photo credit: Wikipedia)

Tyler Durden on 05/14/2014 10:47 -0400

 

That Russia has been pushing for trade arrangements that minimize the participation (and influence) of the US dollar ever since the onset of the Ukraine crisis (and before) is no secret: this has been covered extensively on these pages before (see Gazprom Prepares “Symbolic” Bond Issue In Chinese YuanPetrodollar Alert: Putin Prepares To Announce “Holy Grail” Gas Deal With ChinaRussia And China About To Sign “Holy Grail” Gas Deal40 Central Banks Are Betting This Will Be The Next Reserve Currency; From the Petrodollar to the Gas-o-yuan and so on).

But until now much of this was in the realm of hearsay and general wishful thinking. After all, surely it is “ridiculous” that a country can seriously contemplate to exist outside the ideological and religious confines of the Petrodollar… because if one can do it, all can do it, and next thing you know the US has hyperinflation, social collapse, civil war and all those other features prominently featured in other socialist banana republics like Venezuela which alas do not have a global reserve currency to kick around.

Or so the Keynesian economists, aka tenured priests of said Petrodollar religion, would demand that the world believe.

However, as much as it may trouble the statists to read, Russia is actively pushing on with plans to put the US dollar in the rearview mirror and replace it with a dollar-free system. Or, as it is called in Russia, a “de-dollarized” world.

Voice of Russia reports citing Russian press sources that the country’s Ministry of Finance is ready to greenlight a plan to radically increase the role of the Russian ruble in export operations while reducing the share of dollar-denominated transactions. Governmental sources believe that the Russian banking sector is “ready to handle the increased number of ruble-denominated transactions”.

According to the Prime news agency, on April 24th the government organized a special meeting dedicated to finding a solution for getting rid of the US dollar in Russian export operationsTop level experts from the energy sector, banks and governmental agencies were summoned and a number of measures were proposed as a response for American sanctions against Russia.

Cry, the Beloved Constitution…

Posted on 2014 05, 18 by rockingjude

Week in Review: Voodoo Economics and Friends of Imperialism…

Posted on 2013 11, 03 by rockingjude

 

US Attacks Germany’s Economic Policies. Washington Views with Growing Alarm the Emergence of Germany as the Economic Powerhouse of EuropeAndre Damon, November 03, 2013

 

 

 

Expendable People: Economics, a “Murderous Science”…

Posted on 2013 11, 01 by rockingjude
THE UNITED STATES OF AMERICA - NARA - 515673

THE UNITED STATES OF AMERICA – NARA – 515673 (Photo credit: Wikipedia)

 

 http://www.globalresearch.ca/expendable-people-economics-a-murderous-science/5355985

Global Research, October 29, 2013

The English who settled America brought English culture with them. The colonies were nothing but little Englands. When the colonists revolted, they were merely trying to get free of the tyrannical English monarchy, not trying to change the culture. They were perfectly happy with the English way of life. They carried on its practices and adopted the English system of common law.

That sixteenth century culture is alive and well in America today and is why America is in many respects a backward nation. Americans are living 500 years behind the times.

One would like to believe that human institutions exist to enhance the lives of people, but there is very little evidence to support that view. If enhancing the lives of people is not the purpose of human institutions, what is? The American Constitution lists six goals the founders expected the nation to accomplish:

We the People of the United States, in Order to (1) form a more perfect Union, (2) establish Justice, (3) insure domestic Tranquility, (4) provide for the common defense, (5) promote the general Welfare, and (6) secure the Blessings of Liberty to ourselves and our Posterity, do ordain and establish this Constitution for the United States of America.

Unfortunately, no American government has ever tried to govern in a way that seeks to attain these goals. So the American government is either an unconstitutional, failed state or else the framers of the Constitution must be thought of as having engaged in unrealistic political propaganda. At any rate, the American government is not what the Constitution makes it out to be. The question is why? The answer is the stupid political economy!

The English who settled America brought English culture with them. The colonies were nothing but little Englands. When the colonists revolted, they were merely trying to get free of the tyrannical English monarchy, not trying to change the culture. They were perfectly happy with the English way of strife. They carried on its practices and adopted the English system of common law.

That sixteenth century culture is alive and well in America today and is why America is in many respects a backward nation. Americans are living 500 years behind the times.

The Speculative Endgame: The Government “Shutdown” and “Debt Default”, A Multibillion Bonanza for Wall Street…

Posted on 2013 10, 25 by rockingjude
Global Research, October 16, 2013

A wave of speculative activity is sweeping major markets.

The uncertainty regarding the shutdown and “debt default” constitutes a golden opportunity for “institutional speculators”. Those who have reliable “inside information” regarding the complex outcome of the legislative process are slated to make billions of dollars in windfall gains.

Speculative Bonanza

Several overlapping political and economic agendas are unfolding. In a previous article, we examined the debt default saga in relation to the eventual privatization of important components of the federal State system.

While Wall Street exerts a decisive influence on policy and legislation pertaining to the government shutdown, these same major financial institutions also control the movement of currency markets, commodity and stock markets through large scale operations in derivative trade.

Most of the key actors in the US Congress and the Senate involved in the shutdown debate are controlled by powerful corporate lobby groups acting directly or indirectly on behalf of Wall Street. Major interests on Wall Street are not only in a position to influence the results of the Congressional process, they also have “inside information” or prior knowledge of the chronology and outcome of the government shutdown impasse.

They are slated to make billions of dollars in windfall profits in speculative activities which are “secure” assuming that they are in a position to exert their influence on relevant policy outcomes.

It should be noted, however, that there are important divisions both within the US Congress as well as within the financial establishment. The latter are marked by the confrontation and rivalry of major banking conglomerates.

These divisions will have an impact on speculative movements and counter movements in the stock, money and commodity markets. What we are dealing with is “financial warfare”. The latter is by no means limited to Wall Street, Chinese, Russian and Japanese financial institutions (among others) will also be involved in the speculative endgame.

Speculative movements based on inside information, therefore, could potentially go in different directions. What market outcomes are being sought by rival banking institutions? Having inside information on the actions of major banking competitors is an important element in the waging of major speculative operations.

France, Mexico Demand Explanation for Latest NSA Allegations…

Posted on 2013 10, 21 by rockingjude

U.S Ambassador to France Charles Rivkin (center) leaves the Foreign Ministry in Paris, after being summoned on Oct. 21, 2013, to explain why America spied on one of its closest allies.

 U.S Ambassador to France Charles Rivkin (center) leaves the Foreign Ministry in Paris, after being summoned on Oct. 21, 2013, to explain why America spied on one of its closest allies.

October 21, 2013

France and Mexico are angrily demanding explanations from the United States following new spying allegations leaked by former U.S. security contractor Edward Snowden.

French Foreign Minister Laurent Fabius said Monday that he had called in the U.S. ambassador to explain an article in Le Monde newspaper about large-scale spying on French citizens by the U.S. National Security Agency.

The article alleged that the NSA had gathered tens of millions French phone records over a one-month period. Fabius called the claims “shocking.”

Meanwhile, Mexico reacted angrily Monday to an article published in the German weekly Der Spiegel, in which Snowden accused the NSA of accessing the e-mail of former Mexican President Felipe Calderon. Mexico’s foreign ministry called the practice “unacceptable, illegal and against Mexican and international law.”

State Department spokeswoman Marie Harf would not confirm or deny the recent reports of U.S. spying. She told reporters Monday that all countries understand the value of gathering intelligence and said the United States is willing to discuss concerns any country has about U.S. practices.

“We’re trying to find the right balance here about what we gather and how we gather it,” Harf said. “The president has spoken to this at length now and it’s worth keeping in mind as we have a discussion, keep in mind the entire intelligence picture.”

Snowden, who has taken refuge in Russia, is wanted in the U.S. for espionage and other charges, after leaking details of the NSA’s worldwide spying activities.

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The Basel Committee and the Global Banking Mafia…

Posted on 2013 05, 17 by rockingjude
Bankers-Rule-The-WorldThe-Network-Of-Global-Corporate-Control

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

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. The Committee formulates common standards for banking supervision and recommendations for their implementation, on the assumption that national authorised bodies (first and foremost central banks) will push them forwards in their own countries. With regard to G10, this is the group of countries that signed a general agreement on borrowing with the IMF in 1962 (Belgium, Great Britain, West Germany, Italy, Canada, the Netherlands, France, Sweden, the USA and Japan). Switzerland, which was not a member of the IMF, joined in 1964, but the name of the group remained as before. Representatives from Luxembourg were also included in the Basel Committee from the very beginning and, from 2001, the Committee has included representatives from Spain. At present, the Committee includes representatives from central banks and national authorities on banking supervision from 27 countries (the 13 countries already mentioned along with Argentina, Australia, Brazil, China, Hong Kong, India, Indonesia, Korea, Mexico, Russia, Saudi Arabia, Singapore, South Africa and Turkey, which all joined the Committee in 2009). Over almost four decades of its activities, the Committee has published tens of documents on different areas of activity, including general issues on the organisation of supervision, capital adequacy, all kinds of risk, the corporate governance of lending and borrowing organisations and so on.


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