News Items

India’s Central Bank Will Sell Gold on the Market in Exchange for Gold at the Bank of England

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Screen Shot 2014-07-02 at 3.50.34 PMIndia’s gold policy over the last several years is about as dysfunctional as any government policy I have ever seen, and that’s saying a lot. In case you need a reminder, here are a few posts I have written on the subject:

The Times of India: “Almost Every Passenger on a Flight from Dubai to Calicut Was Found Carrying 1kg of Gold”

Gold Smuggling Increases 7x in India and Surpasses Illegal Drug Trade

Indian Temples Fight Back Against Government Gold Grabbing Plot

In a nutshell, Indians were buying too much gold for their government’s comfort, so the “authorities” stepped in with duties and import restrictions in an attempt to stifle the trade. So smuggling soared.

Fast forward to today. It appears the government has finally realized they can’t stop their citizens penchant for gold, so they have decided to dump central bank gold onto the market. What is incredible to me is that they are justifying this with a so-called “swap” into phantom gold at the Bank of England. The favored global hub of shady, rent-seeking, banker oligarchs.

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Yes, There’s Wood Pulp in Burgers…Here’s Why I Think it Matters

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Screen Shot 2014-07-02 at 12.39.06 PMOn Monday, Quartz published an article by Devin Cohen titled, There is a Secret Ingredient in Your Burgers: Wood Pulp. Given the headline and people’s already present suspicion regarding all of the shady and potentially dangerous ingredients hidden in food items, the article gained a lot of traction. In subsequent days, most journalists and bloggers have focused on the dangers of this additive (unclear) and whether or not it is pervasive throughout the food chain as opposed to just fast food (it appears to be).

The one angle that has not been explored as much is the overall trend. Let’s go ahead and assume that wood pulp is a safe thing to consume, it certainly seems to have no nutritional value whatsoever. So why are companies inserting it into food items? To mask inflation and earn more profits most likely. This was a major theme I focused on last year in a series of pieces on stealth inflation and food fraud, a couple of which can be read below:

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Was the Department of Defense Behind Facebook’s Controversial Manipulation Study?

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Screen Shot 2014-07-01 at 2.41.34 PMI’ve spent pretty much all day reading as much as possible about the extremely controversial Facebook “emotional contagion” study in which the company intentionally altered its news feed algorithm to see if it could manipulate its users’ emotions. In case you weren’t aware, Facebook is always altering your news feed under the assumption that there’s no way they could fill your feed with all of your “friends'” pointless, self-absorbed, dull updates (there’s just too much garbage).

As such, Facebook filters your news feed all the time, something which advertisers must find particularly convenient. In any event, the particular alteration under question occurred during one week in January 2012, and the company filled some people’s feeds with positive posts, while others were fed more negative posts.

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Is the U.S. Government Trying to Stop Glenn Greenwald from Publishing His “Biggest Story?”

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Screen Shot 2014-07-01 at 12.19.04 PMIn May, I highlighted an excellent interview of Glenn Greenwald by GQ Magazine in the piece: Glenn Greenwald on the 2016 Elections – “They’ll Probably Have a Gay Person After Hillary.” There’s so much good stuff in that piece, I strongly suggest you go back and read it if you haven’t, but the relevant part to today’s post is the following exchange:

GQ: How much more is there to release—and what burden do you feel to get it out there?

Greenwald: We published the first article [about the NSA collecting Verizon phone records] while I was in Hong Kong last June and won’t stop until we’re done. I think we will end the big stories in about three months or so [June or July 2014]. I like to think of it as a fireworks show: You want to save your best for last. There’s a story that from the beginning I thought would be our biggest, and I’m saving that. The last one is the one where the sky is all covered in spectacular multicolored hues. This will be the finale, a big missing piece. Snowden knows about it and is excited about it.

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New York Times Reports – Blackwater Threatened to Kill a State Dept. Official and the U.S. Government Did Nothing

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Screen Shot 2014-06-30 at 6.31.37 PMJames Risen is an honorable man and an excellent investigative journalist. Tragically, he also now faces jail time for refusing to reveal his sources. For a little background on his story, here’s an excerpt from a recent New York Times article:

On Dec. 31, 2005, the C.I.A.’s acting general counsel, John A. Rizzo, received an urgent phone call from the White House about a chapter in James Risen’s coming book, “State of War,” detailing a botched C.I.A. operation in Iran.

The administration wanted Mr. Rizzo to contact Sumner Redstone — the chairman of Viacom, owner of the book’s publisher, Simon & Schuster — and ask him to keep the book off the market.

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Meet Janet Cowell – The North Carolina Treasurer Desperately Pushing to Keep Criminal Public Pension Fees Secret

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Screen Shot 2014-06-30 at 11.07.57 AMOne of the most important revelations to emerge in 2014 to-date, is the fact that public pensions are taking on an increasing amount of irresponsible risk in order to meet return targets. The primary way they are doing this is by investing a larger and larger percentage of assets with “alternative investment” managers such as hedge funds and private equity firms.

Specifically, states have increased allocations to alternatives to $460 billion, or 15.3%, from only 3.3 percent in 2001, according to the National Association of State Retirement Administrators. However, this is just the tip of the iceberg. What is really shocking, and extraordinarily disturbing, is the fact that the deals these public pensions enter into, and associated fees paid, are intentionally kept secret from the public, and the people’s whose assets are at stake have absolutely no idea how their money is being invested.

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Big Brother is Coming to Healthcare – How Hospitals are Entering Your Credit Card Info Into Algorithms

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Screen Shot 2014-06-28 at 11.23.58 AMThe article below is a great example of the unforeseen dangers of creating gigantic bureaucratic systems into which potentially hundreds of millions of people are forced into involuntarily, i.e., Obamacare.

The moment you create a national system of healthcare is the moment everybody suddenly has this so-called “health responsibility” to everyone else. Which is fascistic and the opposite of freedom. Again, I don’t have an issue with human beings voluntarily organizing into whatever kind of systems they want. This brings me back to this idea that we need to move more toward city-states and decentralization as a means of human organization. If the people of Boulder for example want to have a city-wide healthcare system they devise, great. Let the people decide. If you don’t want to live under that, you can easily move to another city that does it differently. This idea that one healthcare system should be in place for a gigantic, culturally diverse land of 315 million people is childish, inefficient and, for lack of a better word, stupid.

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The Pitchforks are Coming…– A Dire Warning from a Member of the 0.01%

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If we don’t do something to fix the glaring inequities in this economy, the pitchforks are going to come for us. No society can sustain this kind of rising inequality. In fact, there is no example in human history where wealth accumulated like this and the pitchforks didn’t eventually come out. You show me a highly unequal society, and I will show you a police state. Or an uprising. There are no counterexamples. None. It’s not if, it’s when.

From Nick Hanauer’s excellent Politico Op-Ed: The Pitchforks are Coming…For Us Plutocrats

Over the past several years, I have been extremely critical of the 0.01% as a socio-economic class, often referring to them as criminal oligarchs. This has nothing to do with the incredible sums of money they have amassed. I’m simply not interested in chasing that kind of wealth, nor am I an envious person. I don’t care how much money anyone has. What I do care about is the kind of power that such money can buy, and how that power is then abused to purchase politicians and run roughshod over entire societies. I have also been disgusted with the fact that the 0.01% as a class seem self-absorbed, apathetic and delusional when it comes to the catastrophe the current economic and financial system is reaping upon the planet. So busy are they patting themselves on the back and scrambling to acquire that next billion to see what is rapidly unfolding beyond their moats.

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My Tour of the LulzBot 3D-Printer Facility: An Introduction to Open Source Hardware

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Taz4I have been attending the excellent Liberty on the Rocks (LOTR) events in Denver as of late, which take place on the 1st and 3rd weeks of every month. These informal meetings often have guest speakers, and are filled with liberty-minded thinkers and entrepreneurs. If you live in the area, I strongly suggest you attend.

Last week’s speaker really caught my attention. His name is Harris Kenny, and he is the Communications Manager at Aleph Objects, Inc., the company that makes LulzBot 3D printers. I’ve touched on 3D-Printing on several occasions over the years, since it is one of the key emerging technologies which will facilitate humanity’s transition away from centralized, hierarchic and bureaucratic ways of societal organization into decentralized, networked and voluntary systems. Below are a few of those articles:

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Ex-CIA Officer Claims that Open Source Revolution is About to Overthrow Global Oligarchy

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I want to know what’s to stop this revolution from turning into a violent, destructive mess. Steele is characteristically optimistic. “I have struggled with this question. What I see happening is an end to national dictat and the emergence of bottom-up clarity, diversity, integrity, and sustainability. Individual towns across the USA are now nullifying federal and state regulations – for example gag laws on animal cruelty, blanket permissions for fracking. Those such as my colleague Parag Khanna that speak to a new era of city-states are correct in my view. Top down power has failed in a most spectacular manner, and bottom-up consensus power is emergent. ‘Not in my neighborhood’ is beginning to trump ‘Because I say so.’ The one unlimited resource we have on the planet is the human brain – the current strategy of 1% capitalism is failing because it is killing the Golden Goose at multiple levels. Unfortunately, the gap between those with money and power and those who actually know what they are talking about has grown catastrophic. The rich are surrounded by sycophants and pretenders whose continued employment demands that they not question the premises. As Larry Summers lectured Elizabeth Warren, ‘insiders do not criticize insiders.’”

– From the recent incredible Guardian article: The Open Source Revolution is Coming and it Will Conquer the 1% – ex CIA spy

This article that I am highlighting today is the most powerful and optimistic piece I have read in all of 2014. It also follows on perfectly from my post this past weekend, which I strongly suggest reading before continuing titled: Networks vs. Hierarchies: Which Will Win? Niall Furguson Weighs In.

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