News Items

Texas Moves to Repatriate its Gold from the Federal Reserve

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This is one of the most interesting stories I have read regarding the precious metals market in quite some time.  It appears that Texas Rep. Giovanni Capriglione has a bill in play that would move the state’s gold from New York (where its under the “safekeeping” of the ultra shady Federal Reserve) to a depository within the state of Texas itself.  The reason this would be such a big deal if it happens, is because a lot of the gold bought and sold globally is very likely not actually owned by those that “buy” it.  From my perspective, pretty much the only countries that actually buy gold and bring it within their borders are China, Russia and Iran.  Most other nations that claim they “bought” gold, most likely hold a certificate that states they have gold in London or New York.  So in other words, they have no gold.  It looks like Texas is wising up.  From the Star-Telegram:

Freshman Rep. Giovanni Capriglione, R-Southlake, is carrying a bill that would establish the Texas Bullion Depository, a secure state-based bank to house $1 billion worth of gold bars owned by the University of Texas Investment Management Co., or UTIMCO, and stored by the Federal Reserve.

“If you think gold is a hedge, or a protection, you always want it as close to the individual and the entity as possible,” Paul told The Texas Tribune on Thursday.” Texas is better served if it knows exactly where the gold is rather than depending on the security of the Federal Reserve.”

You’ve gotta love Ron Paul.  The guy is still raising hell even after he left Congress.

The highly political Governor also appears to be on board…

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Harper’s Magazine: “Obama’s Real Political Program”

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Excellent, short article that exposes the total fraud, joke and oligarch puppet that is Barrack Obama.  From Harper’s: You have to hand it to Barack Obama when it comes to having it both ways: He never stops serving the ruling class, yet the mainstream media, from right to left, continues to pretend that he’s some … Read more

Amazingly…Watch Michael Moore Put Piers Morgan to Bed

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I’ve said before, I’ll say it again.  There is nothing better for anyone’s career than to be interviewed by Piers Morgan.  The guy is such an unimaginative, partisan hack he always creates the perfect setup for TV magic.  While I have been intensely critical of Michael Moore in the past due to his lack of … Read more

James Goodale: “Obama Worse than Nixon” on Press Freedom

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For those of you unaware, James Goodale was chief counsel to the New York Times when they published the Pentagon Papers.  In this excellent interview with the Columbia Journalism Review, he warns all Americans, in particular journalists, about the significance of the U.S. government’s prosecution of Wikileaks.  He notes that what Wikileaks did was no different from what the New York Times did back in the 1970’s.  They broke news that the powerful didn’t want exposed.  That is the heart and soul of journalism, and if that is criminalized, so will be the profession of journalism itself.  It’s a full on attack against free speech.  From the CJR:

James Goodale has a message for journalists: Wake up. In his new book, Fighting for the Press (CUNY Journalism Press, 2013), Goodale, chief counsel to The New York Times when its editors published the Pentagon Papers in 1971, argues that President Obama is worse for press freedom than former President Richard Nixon was.

The Obama administration has prosecuted more alleged leakers of national security information under the 1917 Espionage Act than all previous administrations combined, a course critics say is overly aggressive. Former New York Times executive editor Bill Keller wrote in a March op-ed that the administration “has a particular, chilling intolerance” for those who leak. If the Obama administration indicts WikiLeaks founder Julian Assange for conspiracy to violate the Espionage Act, Goodale argues, the president will have succeeded where Nixon failed by using the act to “end-run” the First Amendment.

Could you talk a bit about President Obama’s approach to classified information and press freedom?

Antediluvian, conservative, backwards. Worse than Nixon. He thinks that anyone who leaks is a spy! I mean, it’s cuckoo.

Well, I think it’s very much the same thing. We have a leak of classified information. And by the way — you’ve got to remember [Bradley] Manning’s the leaker. Everyone says Assange is a leaker. He’s not a leaker. He’s the person who gets the information.

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Congress Moves to DEREGULATE Wall Street

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The best part of this story is that Wall Street is, of course, anything but regulated. Nevertheless, the minuscule rules that do apply to the nation’s financial oligarchs are apparently just too much to bare.  It doesn’t seem to bother Congress that the TBTF banks are actively involved in offshore payday lending schemes with rates well over 500%, or that they destroyed multiple municipalities across the nation selling swaps, including picking away at the carcass of the once strong Detroit.  Nope, all that matters is that Congress’ pockets are lined with Federal Reserve Notes.  As expected, this is a bipartisan effort.  From the Huffington Post:

WASHINGTON — A bipartisan cadre of House lawmakers will move on legislation to deregulate Wall Street derivatives Wednesday, less than a week after Sen. Carl Levin (D-Mich.) released adevastating report on the multibillion-dollar derivatives debacle at JPMorgan Chase.

“It is incredible that less than a week after new JPMorgan Whale hearings detailed how the bank’s London office piled up risk, hid losses, and dodged regulatory oversight, that some House members are again supporting the weakening of derivative safeguards.”

It’s not incredible Carl, it’s called payoffs.

Yet in an era of partisan gridlock in the nation’s capital, Democrats and Republicans have come together to repeal or weaken those rules. Although Obama may not want to sign a standalone package of Wall Street deregulation into law, bipartisan legislation could be inserted into a broader bill that the president might find difficult to reject.

I’m sure it’ll be real difficult for Barry to sign.  About as gut wrenching as signing the NDAA.

At a congressional hearing last week, Wallace Turbeville, a former Goldman Sachs banker and current senior fellow at the public policy group Demos, testified on behalf of Americans for Financial Reform that exempting utilities from the rules would ultimately help Wall Street firms profit at the utilities’ expense.

“I had the uncomfortable opportunity to witness sales calls by derivatives specialists on governmental utilities,” Turbeville said. “I have seen the technique of fostering a sense of trust, encouraging an advisory relationship that can be exploited to sell an immensely profitable derivative when other alternatives could be better.”

The bills to be considered Wednesday also include legislation from Rep. Jim Himes (D-Conn.) — another Goldman alum — that would roll back Dodd-Frank’s ban on taxpayer support for some kinds of derivatives trades. Himes has defended his bill as a way to ensure that more regulators oversee derivatives, though the measure is opposed by the Americans for Financial Reform.

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Providence: An Incredible 5 Minute Film by Laura Poitras

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I first became aware of Laura Poitras when I watched her eye-opening video about NSA whistleblower William Binney.  I was so impressed by her interview that I wrote about it and posted it on my website in the article: The NSA is Completely and Totally Out of Control…Very Important Video.  Well Laura is back, and she absolutely … Read more

A Letter to George W. Bush and Dick Cheney from a Dying Iraq War Vet

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I write this letter on the 10th anniversary of the Iraq War on behalf of my fellow Iraq War veterans. I write this letter on behalf of the 4,488 soldiers and Marines who died in Iraq. I write this letter on behalf of the hundreds of thousands of veterans who have been wounded and on … Read more

Bitcoin iPhone App Downloads Soar in Spain as Price Hits New Record

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We all know that Europeans are scared to death about bank account confiscation after the Cyprus fiasco, and it seems some of them are turning to Bitcoin.  I read a fascinating article earlier today that showed how downloads for Bitcoin apps soared in the Spanish iPhone market over the weekend.  Now we see the price … Read more

HSBC Faces More Money Laundering Accusations

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I’m shocked.  Shocked, appalled, horrified and betrayed.  Actually, I’d be shocked if this didn’t happen.  From Reuters: BUENOS AIRES, March 18 (Reuters) – Argentina’s tax agency said on Monday it has uncovered 392 million pesos ($77 million) in fraudulent transactions by HSBC Holdings Plc and said it has asked the judicial system to probe the … Read more

License Plate Readers to Track Every Car Entering New York City

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Mayor Bloomberg’s little police state is coming along quite nicely, as the city plans license plate reader cameras “in every lane of traffic on all of the bridges and tunnels that serve as entrances and exits to Manhattan.”  Oh and they also want to add unmanned drones to keep an eye on the plebes. Don’t even think about trying to sneak a 64 oz soda into NYC, Big Brother Bloomie is watching you!

From the Huffington Post:

NEW YORK — The ring of steel is expanding. New York City Police Department Commissioner Raymond W. Kelly announced a “major project” at a budget hearing on Tuesday to install license plate reader cameras “in every lane of traffic on all of the bridges and tunnels that serve as entrances and exits to Manhattan.”

Soon, no one will be able to drive onto or off of the island without potentially being recorded.

Kelly also said the department has mounted a high-resolution camera on an NYPD helicopter and given it “sophisticated down-link technology to provide real-time, high-quality video of incidents as they unfold.” The commissioner has expressed interest in flying unmanned drones to watch over demonstrations as well.

Kelly did not state the cost of the license plate reader program. But along with data from other major NYPD electronic surveillance initiatives — the Argus cameras mounted on streets in neighborhoods and the Lower Manhattan Security Initiative that integrates private cameras from banks and other institutions — the license plate data will be fed into a $30-40 million comprehensive dashboard produced by Microsoft called the Domain Awareness System.

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