Media ArticlesExcerpts of Key Media Articles in Major Media
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Like others in the so-called good-food movement, [Will] Allen, who is 60, asserts that our industrial food system is depleting soil, poisoning water, gobbling fossil fuels and stuffing us with bad calories. Like others, he advocates eating locally grown food. But to Allen, local doesn't mean a rolling pasture or even a suburban garden: it means 14 greenhouses crammed onto two acres in a working-class neighborhood on Milwaukee's northwest side, less than half a mile from the city's largest public-housing project. And this is why Allen is so fond of his worms. When you're producing a quarter of a million dollars' worth of food in such a small space, soil fertility is everything. Without microbe- and nutrient-rich worm castings (poop, that is), Allen's Growing Power farm couldn't provide healthful food to 10,000 urbanites — through his on-farm retail store, in schools and restaurants, at farmers' markets and in low-cost market baskets delivered to neighborhood pickup points. He couldn't employ scores of people, some from the nearby housing project; continually train farmers in intensive polyculture; or convert millions of pounds of food waste into a version of black gold. With seeds planted at quadruple density and nearly every inch of space maximized to generate exceptional bounty, Growing Power is an agricultural Mumbai, a supercity of upward-thrusting tendrils and duct-taped infrastructure.
Note: For another excellent article on this most amazing man and the urban farming movement, click here.
Weapons inspector David Kelly was writing a book exposing highly damaging government secrets before his mysterious death. He was intending to reveal that he warned Prime Minister Tony Blair there were no weapons of mass destruction anywhere in Iraq weeks before the British and American invasion. He had several discussions with a publisher in Oxford and was seeking advice on how far he could go without breaking the law on secrets. Following his death, his computers were seized and it is still not known if any rough draft was discovered by investigators and, if so, what happened to the material. Dr Kelly was also intending to lift the lid on a potentially bigger scandal, his own secret dealings in germ warfare with the apartheid regime in South Africa. US television investigators have spent four years preparing a 90-minute documentary, Anthrax War, suggesting there is a global black market in anthrax and exposing the mystery suicides of five government germ warfare scientists from around the world. Director Bob Coen said: The deeper you look into the murky world of governments and germ warfare, the more worrying it becomes. We have proved there is a black market in anthrax. David Kelly was of particular interest to us because he was a world expert on anthrax and he was involved in some degree with assisting the secret germ warfare programme in apartheid South Africa. Dr Kelly was found dead in woods near his Oxfordshire home on July 17 2003. His apparent suicide came two days after he was interrogated in the Commons over his behind-the-scenes role in exposing the flaws in the sexed-up Number 10 dossier which justified Britain going to war with Iraq. Conspiracy theorists have claimed he was murdered.
Note: For more on the CBC documentary Anthrax War, click here. And to read about the strange deaths of 13 renowned microbiologists in the space of less than five months, click here.
Costa Rica is the happiest place in the world, according to an independent research group in Britain with the goal of building a new economy, "centered on people and the environment." Costa Rica is known for its lush rain forests and pristine beaches. In a report released [on July 4], the group ranks nations using the "Happy Planet Index," which seeks countries with the most content people. In addition to happiness, the index by the New Economics Foundation considers the ecological footprint and life expectancy of countries. "Costa Ricans report the highest life satisfaction in the world and have the second-highest average life expectancy of the new world (second to Canada)," the organization said in a statement. They "also have an ecological footprint that means that the country only narrowly fails to achieve the goal of ... consuming its fair share of the Earth's natural resources." This year's survey, which looked at 143 countries, featured Latin American nations in nine of the Top 10 spots. The runner-up was the Dominican Republic, followed by Jamaica, Guatemala and Vietnam. Most developed nations lagged in the study. While Britain ranked 74th, the United States snagged the 114th spot, because of its hefty consumption and massive ecological footprint. The United States was greener and happier 20 years ago than it is today, the report said. Other populous nations, such as China and India, had a lower index brought on by their vigorous pursuit of growth-based models, the survey suggested. The report, which was first conducted in 2006, covers 99 percent of the world population.
Drinking five cups of coffee a day could reverse memory problems seen in Alzheimer's disease, US scientists say. The Florida research, carried out on mice, also suggested caffeine hampered the production of the protein plaques which are the hallmark of the disease. The 55 mice used in the University of South Florida study had been bred to develop symptoms of Alzheimer's disease. First the researchers used behavioural tests to confirm the mice were exhibiting signs of memory impairment when they were aged 18 to 19 months, the equivalent to humans being about 70. Then they gave half the mice caffeine in their drinking water. The rest were given plain water. The mice were given the equivalent of five 8 oz (227 grams) cups of coffee a day - about 500 milligrams of caffeine. When the mice were tested again after two months, those who were given the caffeine performed much better on tests measuring their memory and thinking skills and performed as well as mice of the same age without dementia. Those drinking plain water continued to do poorly on the tests. In addition, the brains of the mice given caffeine showed nearly a 50% reduction in levels of the beta amyloid protein, which forms destructive clumps in the brains of dementia patients. Dr Gary Arendash, who led the latest study, told the BBC: "The results are particularly exciting in that a reversal of pre-existing memory impairment is more difficult to achieve. They provide evidence that caffeine could be a viable 'treatment' for established Alzheimer's disease and not simply a protective strategy. That's important because caffeine is a safe drug for most people, it easily enters the brain, and it appears to directly affect the disease process."
Note: For many highly informative health reports from reliable sources, click here.
For the first couple of years I lived in Britain, I was an illegal immigrant from the United States, visaless with an expired passport and looking over my shoulder all the time. Even so, from the very first day I arrived at Victoria Station in London, suffering from bronchitis, I was accepted in the NHS -- the national health scheme, we called it -- no questions asked and no ID required. After I'd become a legal resident, I asked my doctor why he had taken me, almost literally off the boat, with so little fuss. Weren't foreigners a drain on his time and the National Health Service? He shrugged. "If you come here with a contagious disease, we don't want you infecting the rest of us. So of course we give you medical care. Purely selfish on our part." For three decades I used and, being of a hypochondriacal nature, exploited the British medical system without paying a farthing except for the taxes taken out of my wages as a working journalist. And that single-payer, socialistic, government-run, bureaucratized, heavily used, nationalized health system served me -- and 50 million others -- very well. In need, I saw many doctors, with no money ever changing hands. There was nothing to sign, hardly any papers to shuffle. My primary-care physician ran his "surgery," his office, with the help of only one receptionist whose job it was to arrange appointments. It was all free, including specialists, and I came to believe that healthcare is a right, not an entitlement I had paid for. This "free" part sometimes puzzled my visiting American friends. When they got ill in London, I'd send them to my doctor, who would smile bemusedly when offered money.
For generations, The Washington Post has been a scrupulous watchdog over the capital’s cozy world of power networking. For a short time, it almost became the network’s host. The Post decided Thursday to cancel plans to charge lobbyists and trade groups $25,000 or more to sponsor private, off-the-record dinner parties at the home of its publisher, Katharine Weymouth, events that would have brought together lobbyists, business leaders, Post journalists and officials from the Obama administration and Congress. The revelation of the parties early Thursday morning by Politico.com appalled members of The Post newsroom and put the paper squarely in the cross hairs of journalism ethicists. In response, Ms. Weymouth canceled the first dinner, scheduled for July 21. A flier describing the events promised corporate sponsors conversation (“Spirited? Yes. Confrontational? No.”) at the Washington home of Ms. Weymouth. Sponsors were asked to pay $25,000 to attend an event, or underwrite a series of 11 for $250,000. The July 21 event, focusing on health care reform, “guaranteed” a “collegial evening” with health industry advocates, Post journalists covering the field and administration officials involved with its policies. The Politico article prompted an immediate newsroom reaction. The Post’s ombudsman, Andrew Alexander, wrote on his blog that “this comes pretty close to a public relations disaster.” With the print business in tough straits, many news organizations have turned to conferences and other events to raise revenue and their profiles. But the planned Post events seem particularly audacious, not only acting essentially as a paid conduit between lobbyists and government officials, but also providing sponsors the opportunity to make their case to Post journalists.
Note: This article shows the blatant manipulations going on behind the scenes in our major media. To learn just how compromised the media have been for a long time, click here to read about former Post owner Katharine Graham's connections with the CIA. And to understand how major news is suppressed, click here.
The country's worst-ever terrorist atrocity during London's morning rush hour on July 7, 2005, shattered for ever the heady euphoria in which the capital was basking the morning after winning the bid for the 2012 Olympics. That afternoon, Tony Blair - who was hosting the G8 summit on global poverty in Gleneagles, Scotland - returned to Downing Street to pronounce that the attack was an act in the 'name of Islam'. Later, at a meeting of the Government's national emergency committee COBRA, London's anti-terror police chief Andy Hayman told senior ministers that he suspected suicide bombers. And so the story of 7/7 that we have come to accept was pieced together: four British Muslims ... blew themselves up using home-made explosives, killing 56 and injuring 700 on three Tube trains and a double-decker bus. But families of the dead victims and an increasing number of 7/7 survivors claim there are inconsistencies and basic mistakes in the official accounts that need explanation. And they are demanding a full public inquiry to answer key questions about what the Intelligence Services and the police did and did not know before the bombings. Meanwhile, the Government's determined refusal to meet their demands is having a very dangerous side-effect - fuelling myriad conspiracy theories about 7/7. Books, blogs and several video documentaries point to oddities in the official accounts. [Some] of them suggest that the attacks were not the work of Muslim terrorists at all, but were carried out by the Government to boost support for the Iraq war. The survivors are so intent on an independent inquiry that they are now taking legal action in the High Court.
Note: The evidence laid out in this article of government complicity is quite strong. For revealing reports from reliable sources on the unexplained circumstances surrounding the London Bombings on 7/7/05, click here.
The Obama administration will proceed with a Bush-era plan to use National Security Agency assistance in screening government computer traffic on private-sector networks, with AT&T as the likely test site, according to three current and former government officials. President Obama said in May that government efforts to protect computer systems from attack would not involve "monitoring private-sector networks or Internet traffic," and Department of Homeland Security officials say the new program will scrutinize only data going to or from government systems. But the program has provoked debate within DHS, the officials said, because of uncertainty about whether private data can be shielded from unauthorized scrutiny, how much of a role NSA should play and whether the agency's involvement in warrantless wiretapping during George W. Bush's presidency would draw controversy. Each time a private citizen visited a "dot-gov" Web site or sent an e-mail to a civilian government employee, that action would be screened for potential harm to the network. Under a classified pilot program approved during the Bush administration, NSA data and hardware would be used to protect the networks of some civilian government agencies. Part of an initiative known as Einstein 3, the plan called for telecommunications companies to route the Internet traffic of civilian agencies through a monitoring box that would search for and block computer codes designed to penetrate or otherwise compromise networks. AT&T, the world's largest telecommunications firm, was the Bush administration's choice to participate in the test. AT&T officials declined to comment. The prospect of NSA involvement in cybersecurity ... fuels concerns about unwarranted government snooping into private communication."
Note: For lots more on government and corporate threats to privacy, click here and here.
The acquisition of farmland from the world's poor by rich countries and international corporations is accelerating at an alarming rate, with an area half the size of Europe's farmland targeted in the last six months, reports from UN officials and agriculture experts say. New reports from the UN and analysts in India, Washington and London estimate that at least 30m hectares is being acquired to grow food for countries such as China and the Gulf states who cannot produce enough for their populations. According to the UN, the trend is accelerating and could severely impair the ability of poor countries to feed themselves. Olivier De Schutter, special envoy for food at the UN Office of the High Commissioner for Human Rights, said: "[The trend] is accelerating quickly. All countries observe each other and when one sees others buying land it does the same." Nearly 20m hectares (50m acres) of farmland – an area roughly half the size of all arable land in Europe – has been sold or has been negotiated for sale or lease in the last six months. Around 10m hectares was bought last year. Some of the largest deals include South Korea's acquisition of 700,000ha in Sudan, and Saudi Arabia's purchase of 500,000ha in Tanzania. The Democratic Republic of the Congo expects to shortly conclude an 8m-hectare deal with a group of South African businesses to grow maize and soya beans as well as poultry and dairy farming. India has lent money to 80 companies to buy 350,000ha in Africa. De Schutter said that after the food crisis of 2008, many countries found food imports hit their balance of payments, "so now they want to insure themselves. This is speculation, betting on future prices. What we see now is that countries have lost trust in the international market. We know volatility will increase in the next few years. Land prices will continue to rise."
Note: This important article makes the key point that speculation is driving this "new land grab" or "neo-colonial" activity by nations. After the collapse of the bubble in financial instruments speculative activity by the biggest players is moving into commodities of all kinds, even land in places where it can be bought cheaply and bid up high. For lots more about predatory capital flows from major media sources, click here.
Three years ago, U.S. Department of Agriculture employees determined that synthetic additives in organic baby formula violated federal standards and should be banned from a product carrying the federal organic label. Today the same additives, purported to boost brainpower and vision, can be found in 90 percent of organic baby formula. The government's turnaround, from prohibition to permission, came after a USDA program manager was lobbied by the formula makers and overruled her staff. That decision and others by a handful of USDA employees, along with an advisory board's approval of a growing list of non-organic ingredients, have helped numerous companies win a coveted green-and-white "USDA Organic" seal on an array of products. Grated organic cheese, for example, contains wood starch to prevent clumping. Organic beer can be made from non-organic hops. Relaxation of the federal standards, and an explosion of consumer demand, have helped push the organics market into a $23 billion-a-year business, the fastest growing segment of the food industry. Half of the country's adults say they buy organic food often or sometimes, according to a survey last year by the Harvard School of Public Health. But the USDA program's shortcomings mean that consumers, who at times must pay twice as much for organic products, are not always getting what they expect: foods without pesticides and other chemicals, produced in a way that is gentle to the environment. "It will unravel everything we've done if the standards can no longer be trusted," said Sen. Patrick J. Leahy (D-Vt.), who sponsored the federal organics legislation. "If we don't protect the brand, the organic label, the program is finished. It could disappear overnight."
Note: For many revealing reports from major media sources on government corruption, click here.
Americans who refuse to buy affordable medical coverage could be hit with fines of more than $1,000 under a health care overhaul bill unveiled Thursday by key Senate Democrats looking to fulfill President Barack Obama's top domestic priority. The Congressional Budget Office estimated the fines will raise around $36 billion over 10 years. Senate aides said the penalties would be modeled on the approach taken by Massachusetts, which now imposes a fine of about $1,000 a year on individuals who refuse to get coverage. Under the federal legislation, families would pay higher penalties than individuals. In a revamped health care system envisioned by lawmakers, people would be required to carry health insurance just like motorists must get auto coverage now. The government would provide subsidies for the poor and many middle-class families, but those who still refuse to sign up would face penalties. Called "shared responsibility payments," the fines would be set at least half the cost of basic medical coverage, according to the legislation. The goal is to nudge people to sign up for coverage when they are healthy, not wait until they get sick. The legislation would exempt certain hardship cases from fines. The fines would be collected through the income tax system. Obama wants a bill this year that would provide coverage to the nearly 50 million Americans who lack it and reduce medical costs. In a statement, Obama welcomed the legislation, saying it "reflects many of the principles I've laid out." The government's costs would be covered by a combination of higher taxes and cuts in projected Medicare and Medicaid spending.
Note: How can Congress even consider forcing people to buy insurance with threat of a major fine? What happened to the country of freedom and liberty? And is the people or the HMOs who benefit here?
Civil libertarians recently accused President Obama of acting like former President George W. Bush, citing reports about Mr. Obama’s plans to detain terrorism suspects without trials on domestic soil after he closes the Guantánamo prison. It was only the latest instance in which critics have argued that Mr. Obama has failed to live up to his campaign pledge “to restore our Constitution and the rule of law” and raised a pointed question: Has he, on issues related to fighting terrorism, turned out to be little different from his predecessor? Mr. Obama’s critics say that ... the core problem with Mr. Bush’s approach ... was that it trammeled individual rights. And they say Mr. Obama’s policies have not changed that. “President Obama may mouth very different rhetoric,” said Anthony D. Romero, executive director of the American Civil Liberties Union. “He may have a more complicated process with members of Congress. But in the end, there is no substantive break from the policies of the Bush administration.” Mr. Obama has also drawn fire from human rights advocates for fighting to prevent detainees in Afghanistan from having habeas corpus rights. Mr. Obama has also continued other Bush-era policies ... like the C.I.A.’s “extraordinary rendition” program ... and the invocation of the “state secrets” privilege to shut down some lawsuits. Jack Balkin, a Yale Law School professor, said Mr. Obama’s ratification of the basic outlines of the surveillance and detention policies he inherited would reverberate for generations. By bestowing bipartisan acceptance on them, Mr. Balkin said, Mr. Obama is consolidating them as entrenched features of government. “What we are watching,” Mr. Balkin said, “is a liberal, centrist, Democratic version of the construction of these same governing practices.”
Note: For revealing media articles from reliable sources on the hidden realities of never-ending "war on terror", click here.
This much we can stipulate: President John F. Kennedy was assassinated on Nov. 22, 1963, struck by two bullets — one in the head, one in the neck — while riding in an open-topped limo through Dealey Plaza in Dallas. Lee Harvey Oswald was charged with killing him, and a presidential commission headed by Chief Justice Earl Warren found that Oswald acted alone. That conclusion hasn't passed muster with the public. A 2003 ABC News poll found that 70% of Americans believe Kennedy's death was the result of a broader plot. The trajectory of the bullets, some say, didn't square with Oswald's perch on the sixth floor of the Texas School Book Depository. Others suggest a second gunman — perhaps on the grassy knoll of Dealey Plaza — participated in the shooting. Others believe in an even broader conspiracy. Was Kennedy killed by CIA agents acting either out of anger over the Bay of Pigs or at the behest of Vice President Lyndon Johnson? By KGB operatives? Mobsters mad at Kennedy's brother for initiating the prosecution of organized crime rings? Speculation over one of history's most famous political assassinations is such a popular parlor game that most people have taken the rumors to heart: just 32% of those polled by ABC believe Oswald carried out the killing on his own.
Note: For an abundance of reliable facts and information suggesting a major conspiracy in the John F. Kennedy assassination, click here. For two powerful History Channel videos providing powerful evidence of direct government involvement in the Kennedy assassination, click here and here.
The Mondragón Cooperative Corporation (MCC), the largest consortium of worker-owned companies, has developed a different way of doing business—a way that puts workers, not shareholders, first. Here’s how it played out when one of the Mondragón cooperatives fell on hard times. The worker/owners and the managers met to review their options. After three days of meetings, the worker/owners agreed that 20 percent of the workforce would leave their jobs for a year, during which they would continue to receive 80 percent of their pay and, if they wished, free training for other work. This group would be chosen by lottery, and if the company was still in trouble a year later, the first group would return to work and a second would take a year off. The result? The solution worked and the company thrives to this day. The central importance of workers permeates every aspect of the Mondragón Cooperatives. Even though the MCC businesses are affected by the global financial crisis, there is no unemployment within the MCC businesses. People are moved around to other jobs, or hours are cut without cutting pay. The wages for unworked hours are to be repaid through extra hours worked later in the year. Contrary to what some advocates of top-down management say, this worker-centered focus hasn’t been an obstacle to growth. Founded in 1956 by Father Don Jose Arizmendi, a Basque Catholic priest, the Mondragón cooperatives today comprise more than 100 cooperatives, as well as more than 100 subsidiaries that MCC has purchased and hopes to convert. Altogether, MCC companies employ more than 100,000 worker/owners and in 2007 generated revenues of more than $24 billion.
Just in time for the 40th anniversary of the first moon landing, NASA may have found the long-lost original Apollo 11 videotapes. Back on July 20, 1969, the raw video feed from the moon was beamed to the Parkes Observatory radio telescope in southeastern Australia, and then compressed and sent to Mission Control in Houston. Because of technical issues, NASA's images couldn't be fed directly to the TV networks. Instead, the grayish, blotchy images Americans saw on their TV sets were the result of a regular TV camera pointed at the huge wall monitor in Houston – a copy of a copy, in effect. Those images survive, and anyone can see them on YouTube. But the original, sharp, black-and-white tapes that were recorded at Parkes vanished. NASA had thought they'd been shipped to the Goddard Space Flight Center in Greenbelt, Md., But a search there a couple of years ago turned up nothing. Around the same time, though, a cache of tapes containing data from moon-surface experiments from the entire Apollo program was discovered in a university basement in Perth, Western Australia, on the other side of the country from Parkes. According to the Sunday Express, NASA has combed through those tapes and found the original Apollo 11 video footage. "We're talking about the same tapes," an unnamed NASA spokesman told the newspaper, though he added that "at this point, I'm not prepared to discuss what has or has not been found."
Note: Isn't it amazing that NASA could lose these invaluable tapes? There are many strange questions surrounding this issue.
Israeli forces have boarded a ship trying to carry aid and pro-Palestinian activists to the Gaza Strip in defiance of Israel's blockade of the territory. The 20 passengers include former US congresswoman Cynthia McKinney and Nobel Prize winner Mairead Maguire. Ms McKinney described it as "an outrageous violation of international law", as the boat was on a humanitarian mission and was not in Israeli waters. The US-based Free Gaza Movement has breached the blockade five times since August 2008. Two other attempts by the activist group were stopped by Israeli warships during Israel's three-week military offensive in Gaza in December and January. The mission is the latest by the Free Gaza Movement, which has renamed the ferry Spirit of Humanity. "This is an outrageous violation of international law against us. Our boat was not in Israeli waters, and we were on a human rights mission to the Gaza Strip," said Ms McKinney in a statement. "President [Barack] Obama just told Israel to let in humanitarian and reconstruction supplies, and that's exactly what we tried to do. We're asking the international community to demand our release so we can resume our journey." On Monday, a report by the International Committee of the Red Cross described the 1.5 million Palestinians living in Gaza as people "trapped in despair", unable to rebuild their lives after Israel's offensive. Donors have pledged $4.5 billion for reconstruction and rehabilitation in Gaza following the 22-day offensive which left more than 50,000 homes, 800 industrial properties and 200 schools damaged or destroyed, as well as 39 mosques and two churches.
Note: A similar boat was rammed by the Israeli military about six months ago. To watch a 3-minute CNN interview on this, click here.
Citigroup has sharply increased interest rates on up to 15 [million] US credit card accounts just months before curbs on such rises come into effect, in a move that could fuel political anger at the treatment of consumers by bailed-out banks. People close to the situation said that Citi, which is about to cede a 34 per cent stake to the US government as part of its latest rescue, had upped rates on between 13 [million] and 15 [million] credit cards it co-brands with retailers such as Sears. Citi’s rate increases emerged on the day the government proposed legislation to create a new regulator with sweeping powers on consumer protection and a week after the bank was attacked by some politicians for raising employees’ salaries. Holders of co-branded cards who failed to pay their balance in full at the end of the month saw their rates rise by an average 24 per cent – or nearly 3 percentage points – between January and April, according to a Credit Suisse analysis of data from the consultancy Lightspeed Research. Citi’s move came as the economic downturn caused record defaults among US card users and prompted many issuers to raise rates, both to cushion their losses and pre-empt the new restrictions set to come into effect in February. However, Citi’s increases have been larger than those of its main rivals, according to Lightspeed, which tracks about 12,000 US credit card accounts. Carolyn Maloney, Democratic representative for New York, the author of the new rules that will sharply constrain lenders’ ability to raise rates for risky borrowers, criticised Citi’s move. “It’s hard to tell if rate hikes on existing balances being put in place now are the result of prior bad business decisions or getting in under the wire of the new law,” Ms Maloney told the Financial Times.
Note: Evidently one of the key effects of the forced multi-billion-dollar bailout of Citibank by US taxpayers has been to enable the bank to continue to gouge the public with exorbitant interest rates. This is called "saving the financial sytem." For lots more on the realities of the Wall Street bailout, click here.
Obama administration officials ... are crafting language for an executive order that would reassert presidential authority to incarcerate terrorism suspects indefinitely, according to three senior government officials with knowledge of White House deliberations. Such an order would embrace claims by former president George W. Bush that certain people can be detained without trial for long periods under the laws of war. In a May speech, President Obama broached the need for a system of long-term detention and suggested that it would include congressional and judicial oversight. "We must recognize that these detention policies cannot be unbounded. They can't be based simply on what I or the executive branch decide alone," he said. A senior Republican [Congressional] staff member said that senators have yet to see "a comprehensive, detailed policy" on long-term detention from the administration. "They can do it without congressional backing, but I think there would be very strong concerns," the staff member said, adding that "Congress could cut off funding" for any detention system established in the United States. Concerns are growing among Obama's advisers that Congress may try to assert too much control over the process. "Legislation could kill Obama's plans," said one government official involved. The official said an executive order could be the best option for the president at this juncture. Under one White House draft that was being discussed this month, according to administration officials, detainees would be imprisoned at a military facility on U.S. soil, but their ongoing detention would be subject to annual presidential review.
Note: Again the Obama administration is following in the footsteps of the Bush administration, despite prior promises not to do so. For more on threats to civil liberties from reliable sources, click here.
Ever since two middle-aged men with Japanese passports were caught in Italy this month trying to smuggle a purported $134.5 billion in United States government bearer bonds into Switzerland, the Internet has been abuzz with theories. In all, the Italian financial police and customs guards confiscated 249 paper bonds, each supposedly worth $500 million, and 10 bonds with a face value of $1 billion each. After reports of the seizure began to trickle out of Italy, the blogosphere sprang into action, the ponderings fueled by suspicions that the mainstream media was willfully ignoring the tale. The story took on greater life after Italian authorities — who have refused to talk about the scandal — declined to declare the bonds fakes until they were examined by Washington. Col. Rodolfo Mecarelli, the provincial commander of the financial police in Como, said the investigations were focused on “understanding who these men were and where they were from.” Also unknown are the whereabouts of the two men, who were released after being stopped in early June. “The men were questioned, but not arrested,” said Naoki Oyakawa, an official at the Japanese consulate in Milan. He said the two men had valid Japanese passports, but he would not elaborate further on their identities. “We don’t know where they are now,” he said. “We have had no contact with the two men. They have not asked us for our help.” What the bonds were for remains unclear. “It’s not the sort of thing that you can just go into a bank and convert,” said Colonel Mecarelli. “But they may have been useful to guarantee business deals among people who don’t use cash.” Agencies that deal with financial crimes, including Europol, declined to comment while the Italian investigation was still under way.”
Note: Although this dismissive article asserts that the bonds seized are fakes, many odd circumstances remain unexplained, including the "unknown" identity of the smugglers and why they would smuggle fake securities. The US, Italian and Japanese authorities and mainstream media again have failed to report something of potential significance.
President Barack Obama's proposal for a regulatory overhaul of the financial industry vastly expands the reach of the Federal Reserve, yet fails to make policy-makers more accountable for their actions. Critics argue that the new legislation fundamentally misses the problems that led to the financial crisis. It was a lack of enforcement by supervisors, they say, not insufficient rules, that fostered a cowboy culture of rampant risk-taking on Wall Street. "Obama is letting the Fed and everyone else off the hook by saying that the problem was with the regulations and not the regulators," said Dean Baker, co-director of the Center for Economic Policy Research in Washington. "If regulators know that even if they totally fail on the job, they will face no career consequences, then at some future point, when there is a choice between confronting the financial industry or just going along, the regulators will just go along," said Baker. Some feel uncomfortable with a broader role for the Fed primarily because of the Fed's closeness to the banking sector. The Fed is not technically a public entity. Each of the Fed's 12 branches are overseen by a nine-member board of directors, two-thirds of whom are elected by the bankers in the district. "The Federal Reserve has massive conflicts of interest that make it ill-suited for its present regulatory functions and certainly for an expanded regulatory reach," said Robert Auerbach, a professor of public affairs at the University of Texas at Austin. "The officials leading the Fed today preside over an organization that is run in substantial part by the bankers they regulate."
Note: For empowering insight into the historic roots of the Federal Reserve's unaccountability, click here.
Important Note: Explore our full index to key excerpts of revealing major media news articles on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.