Sandy Hook Elementary to be Demolished – Contractors Forced to Sign Confidentiality Agreements

Am I the only one that finds this incredibly strange? While I completely understand community concerns surrounding potential exploitation of the tragedy, they seem to be going way overboard in their precautions. I’d love to hear readers’ thought on this because it seems extremely bizarre to me…

From the AP:

HARTFORD, Conn. (AP) — When the old Sandy Hook Elementary School is demolished, building materials will be pulverized on site and metal will be taken away and melted down in an effort to eliminate nearly every trace of the building where a gunman killed 26 people last December.

Contractors also will be required to sign confidentiality agreements and workers will guard the property’s perimeter to prevent onlookers from taking photographs or videos.

Demolition is set to begin next week and be finished before the Dec. 14 anniversary of the shootings. Town voters last month accepted a state grant of $49.3 million to raze the building and build a new school, which is expected to open by December 2016.

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Gold Price Premiums Hit Record in India – 8% Above London Spot

This story is just further proof of the complete and total mess that has been made of the Indian gold market over of the course of this year due to government intervention. The other part of the problem is that when you are dealing in physical supplies you can’t just deliver paper contracts. Somehow I don’t think that would cut it for Indians on festival days or their daughters’ weddings.

From Reuters:

(Reuters) – Gold premiums in India, the world’s biggest buyer of the precious metal, hit a record $100 an ounce, about 8 percent over London prices, on a shortage of supplies to meet festival demand, traders said on Tuesday.

“There are no supplies in the domestic market, and there is a little demand due to festivals… what little supplies that come, go to exporters,” Bachhraj Bamalwa, director at the All India Gems and Jewellery Trade Federation (GJF) told Reuters.

Most suppliers in Mumbai and Kolkata have started quoting premiums in excess of $100 an ounce above London prices, more than double the $40 charged last week, Bamalwa said.

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Glenn Greenwald: “The Most Shocking Stories Have Not Been Published”…Is This Why He Left The Guardian?

Just yesterday, I was taken aback by an article in Time magazine in which Glenn Greenwald was quoted as saying: The archives are so complex and so deep and so shocking, that I think the most shocking and significant stories are the ones we are still working on, and have yet to publish. The above statement … Read more

Chinese Web Search Giant Baidu Now Accepts Bitcoin

As I have maintained on many occasions, reports of the death of Bitcoin have been greatly exaggerated. If anything, the news related to the most popular crypto-currency ever has only gotten considerably more positive in the wake of the raid on Silk Road. The most recent development is that massive web services site Baidu, Inc. has started to accept Bitcoin for its Jiasule service. I wonder if this is in any way related to the recent Chinese calls for a new reserve currency, as I can’t imagine the company would go ahead with accepting BTC without at least some “all clear” from authorities. If this signals implicit approval for Bitcoin by political leaders in China (it’s too early to tell), it would have paradigm-shifting global consequences.

Here’s the BTC chart. You make your own judgement:

Screen Shot 2013-10-15 at 12.24.34 PM

From CoinDesk:

Search engine giant Baidu has announced it is now accepting payment in bitcoin for its Jiasule service, which improves websites’ performance, speed and security.

Founded in January 2000, Baidu is similar to Google in that its offers a variety of tools and services to produce information and products in response to search terms, however, Baidu is specific to Chinese-language search terms.

Rough translation of the company’s news release:

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N.Y. Fed Looks to Seal Documents in the Latest Whistleblower Case

As was widely reported last week in both the alternative media and the mainstream presstitute media, former senior bank examiner at the New York Federal Reserve, Carmen Segarra, has filed a lawsuit against her former employer accusing them of wrongful termination after she determined that Goldman Sachs had insufficient conflict-of-interest policies. As usual, anything that threatens to … Read more

A Political Earthquake Hits France: Is a European Union Referendum Next?

I will negotiate over the points on which there can be no compromise. If the result is inadequate, I will call for withdrawal. Europe is just a great bluff. On one side there is the immense power of sovereign peoples, and on the other side are a few technocrats.

– Front National Leader Marine Le Pen

I haven’t been paying as much attention to Europe as I was a few years ago. After all, monitoring the oligarch theft, shit-show in my own backyard is a full time job. Even back when I was watching the Continent more closely, I never paid particular attention to the happenings in France. That needs to change.

Ambrose-Evans Pritchard of the UK’s Telegraph has written an excellent article detailing the extraordinary success of Marine Le Pen’s Front National in recent elections. What was once seen as a fringe right-wing party is now collecting a surprising amount of votes from socialists attracted to the anti-bank/anti-euro platform. With all the talk of Greece, Italy and Spain over the past several years, wouldn’t it be ironic if France was the one country that ended it all…

From The Telegraph:

We have a minor earthquake in France. A party committed to withdrawal from the euro, the restoration of French franc, and the complete destruction of monetary union has just defeated the establishment in the Brignoles run-off election.

The Front National is now the most popular party in France with 24pc according to a new Ifop poll. Both the two great governing parties of the post-War era have fallen behind for the first time ever. The Gaullistes (UMP) are at 22pc, and the Socialists at 21pc. 

Asked if she intended to pull France of the euro immediately, she hesitated for a second or two and then said: “Yes, because the euro blocks all economic decisions. France is not a country that can accept tutelage from Brussels.”

Officials will be told to draw up plans for the restoration of the franc. Eurozone leaders will face a stark choice: either work with France for a “sortie concerted” or coordinated EMU break-up: or await their fate in a disorderly collapse.

“We cannot be seduced. The euro ceases to exist the moment that France leaves, and that is our incredible strength. What are they going to do, send in tanks?”

Well now that you mention it…

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Blast from the Past: Harry Reid Claimed Income Taxes are “Voluntary”

With Harry Reid in deep negotiations with crony Republican fraud Mitch McConnell, the American public is surely in the process of getting royally screwed once again. Thus, it seems like an appropriate time to revisit an interview in which Mr. Reid claimed on camera that income taxes are “voluntary.” He must have accidentally described the … Read more

Red Cross Launches Emergency Food Aid Plan in the UK – First Time Since World War II

Welcome to the global recovery folks. A recovery that is so strong in the UK, the Red Cross has been called in to provide food aid for the first time since World War II. Nothing spells happy days are here again like that sort of news.

Oh, didn’t participate in the global recovery? No worries, oligarchs have got you covered and will happily offer you a piece of bread in between flat purchases in the City of London so that you remain quietly and apathetically planted squarely in front of the television . The “recovery” was and is a gigantic heist. Nothing more, nothing less.

From the Telegraph:

The Red Cross will this winter start collecting and distributing food aid to the needy in Britain for the first time since the Second World War, as welfare cuts and the economic downturn send soaring numbers of people to soup kitchens and food banks across Europe.

In what could be the start of an increased role in Britain for the Geneva-based charity best known for its work in disaster zones, its volunteers will be mobilised to go into supermarkets across the country at the end of November and ask shoppers to donate dry goods. The British Red Cross will then help FareShare, a charity working with the Trussell Trust and Tesco, distribute the packets and tins to food banks nationwide.

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Bill Fleckenstein to Restart Short-Selling Fund He Shut Down at Market Lows

I’ll be the first to admit, I haven’t been able to understand or anticipate financial market moves since the fall of 2011, when I believe Central Banks and governments decided enough was enough, and more or less chose to fully micro-manage almost all market moves on a daily basis. One person who has been very astute throughout all of the madness is Bill Fleckenstein, who closed his short-selling fund right around the market lows and for the right reasons. Well he is now reopening it and calling it RTM 2.0, which stands for Revert to the Mean.

In a nutshell, he was waiting for the bond market to show signs that the Fed is losing control and that the lows in yields are in. He sees early signs of that happening.

More from The Street:

So far, Fleckenstein, who made his name shorting mostly tech companies, but who quit in 2009 to start an opportunistic long-only fund, is the first to go public with his plans.

“For four years and counting, there was no reason to think about shorting,” he told me. “I survived from 2000 to 2009, even when the market was going up, because I made what the Fedwas doing a key variable.”

On tapering fears, he points out, yields leaped from 1.6% to 3%. But the Fed didn’t taper and rates backed off, but just down to 2.7%. That’s a far cry from pretapering-talk levels.

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Patriot Act Author Prepares Strong Bill to Rein in NSA Abuses…Calls for Prosecution of James Clapper

In an interesting twist of irony, one of the Congressman most instrumental in the destruction of civil liberties in these United States due to his authorship of the Patriot Act, Jim Sensenbrenner (R-Wisc.), is now leading the charge to rein in NSA abuses. His disgust with the NSA became clear back in early June when he wrote an impassioned letter to Attorney General Eric Holder criticizing the illegal NSA activity happening behind the scenes. The key point here is that Mr. Sensenbrenner strongly believes that these guys are misinterpreting the legislation he wrote to justify everything they are doing. As such, he and others are proposing legislation to make it crystal clear what is and what is not appropriate surveillance.

Not only that, he is also calling for the prosecution of James Clapper the current Director of National Intelligence, who perjured himself in front of Congress earlier this year. Mr. Sensenbrenner said:

Oversight only works when the agency that oversight is directed at tells the truth, and having Mr Clapper say he gave the least untruthful answer should, in my opinion, have resulted in a firing and a prosecution.

This guy means business. More from the Guardian:

The conservative Republican who co-authored America’s Patriot Act is preparing to unveil bipartisan legislation that would dramatically curtail the domestic surveillance powers it gives to intelligence agencies.

Congressman Jim Sensenbrenner, who worked with president George W Bush to give more power to US intelligence agencies after the September 11 terrorist attacks, said the intelligence community had misused those powers by collecting telephone records on all Americans, and claimed it was time “to put their metadata program out of business”.

His imminent bill in the House of Representatives is expected to be matched by a similar proposal from Senate judiciary committee chair Patrick Leahy, a Democrat. It pulls together existing congressional efforts to reform the National Security Agency in the wake of disclosures by whistleblower Edward Snowden.

It seeks to limit the collection of phone records to known terrorist suspects; to end “secret laws” by making courts disclose surveillance policies; to create a special court advocate to represent privacy interests; and to allow companies to disclose how many requests for users’ information they receive from the USA. The bill also tightens up language governing overseas surveillance to remove a loophole which it has been abused to target internet and email activities of Americans.

In July, a temporary measure to defund the NSA bulk collection programme was narrowly defeated in a 217 to 205 vote in the House, but Sensenbrenner said the appetite for greater privacy protections had only grown since.

Instead, the main opposition to Sensenbrenner and Leahy’s twin-pronged effort is likely to come from the chair of the Senate intelligence committee, Dianne Feinstein, who is supportive of the NSA but who has proposed separate legislation focusing on greater transparency and checks rather than an outright ban on bulk collection.

Of course Feinstein is going to push to block real NSA restrictions, she is one of the most authoritarian members of Congress, not to mention married to a gigantic crony capitalist, fraud artist. 

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