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Revealing News For a Better World

Media Articles
Excerpts of Key Media Articles in Major Media


Below are key excerpts of highly revealing media articles from the major media. Links are provided to the full articles on their media websites. If any link fails to function, read this webpage. These media articles are listed in reverse date order. You can also explore the articles listed by order of importance or by date posted. By choosing to educate ourselves and to spread the word, we can build a brighter future.

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.


Health care outrage goes uncovered
2009-06-19, CNN
http://www.cnn.com/2009/POLITICS/06/19/begala.health.care/index.html

You probably have never heard of Robin Beaton, and that's what's wrong with the debate over health care reform. Beaton, a retired nurse from Waxahachie, Texas, had health insurance -- or so she thought. She paid her premiums faithfully every month, but when she was diagnosed with aggressive breast cancer, her health insurance company, Blue Cross, dumped her. The insurance company said the fact that she had seen a dermatologist for acne, who mistakenly entered a notation on her chart that suggested her simple acne was a precancerous condition, allowed Blue Cross to leave her in the lurch. Beaton testified before a House subcommittee this week. So did other Americans who thought they had insurance but got the shaft. The subcommittee's chairman, Democrat Bart Stupak of Michigan, called the hearing to highlight the obnoxious and unethical practice called rescission. His researchers produced performance reviews of insurance company bureaucrats who were praised and rewarded for kicking people off their coverage. Then Stupak asked three health insurance executives the big question: Will your company pledge to end the practice of rescission except in cases of intentional fraud? All three health insurance executives said no. It was as dramatic as congressional testimony gets. Yet it got no airtime on the networks, nor, as far as I can tell, on cable news, although CNN.com did run a story. The story did not make The New York Times. Nor The Washington Post, which found space on the front page the morning after the hearing for a story on the cancellation of Fourth of July fireworks in Shippensburg, Pennsylvania, but not a story on the cancellation of health insurance for deathly ill Americans who've paid their premiums.

Note: For lots more on corruption in the health industry, click here.


Only a Hint of Roosevelt in Financial Overhaul
2009-06-18, New York Times
http://www.nytimes.com/2009/06/18/business/18nocera.html

Three quarters of a century ago, President Franklin Roosevelt earned the undying enmity of Wall Street when he used his enormous popularity to push through a series of radical regulatory reforms that completely changed the norms of the financial industry. Wall Street hated the reforms, of course, but Roosevelt didn’t care. Wall Street and the financial industry had engaged in practices they shouldn’t have, and had helped lead the country into the Great Depression. Those practices had to be stopped. To the president, that’s all that mattered. On Wednesday, President Obama unveiled what he described as “a sweeping overhaul of the financial regulatory system, a transformation on a scale not seen since the reforms that followed the Great Depression.” In terms of the sheer number of proposals, outlined in an 88-page document the administration released on Tuesday, that is undoubtedly true. But in terms of the scope and breadth of the Obama plan — and more important, in terms of its overall effect on Wall Street’s modus operandi — it’s not even close to what Roosevelt accomplished during the Great Depression. Rather, the Obama plan is little more than an attempt to stick some new regulatory fingers into a very leaky financial dam rather than rebuild the dam itself. Everywhere you look in the plan, you see the same thing: additional regulation on the margin, but nothing that amounts to a true overhaul. The plan places enormous trust in the judgment of the Federal Reserve — trust that critics say has not really been borne out by its actions during the Internet and housing bubbles. Firms will have to put up a little more capital, and deal with a little more oversight, but once the financial crisis is over, it will, in all likelihood, be back to business as usual.

Note: To watch the Inspector General of the Federal Reserve testify to Congress that she knows pracitcally nothing of trillions of dollars that are unaccounted for, click here. For many revealing reports from reliable sources on the hidden realities of the continuing taxpayer bailout of the biggest financial corporations, click here.


Inventory Uncovers 9,200 More Pathogens
2009-06-18, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/17/AR20090617032...

An inventory of potentially deadly pathogens at Fort Detrick's infectious disease laboratory found more than 9,000 vials that had not been accounted for, Army officials said yesterday, raising concerns that officials wouldn't know whether dangerous toxins were missing. After four months of searching about 335 freezers and refrigerators at the U.S. Army Medical Research Institute of Infectious Diseases in Frederick, investigators found 9,220 samples that hadn't been included in a database of about 66,000 items listed as of February, said Col. Mark Kortepeter, the institute's deputy commander. The vials contained some dangerous pathogens, among them the Ebola virus, anthrax bacteria and botulinum toxin, and less lethal agents such as Venezuelan equine encephalitis virus and the bacterium that causes tularemia. Most of them, forgotten inside freezer drawers, hadn't been used in years or even decades. Officials said some serum samples from hemorrhagic fever patients dated to the Korean War. The overstock and the previous inaccuracy of the database raised the possibility that someone could have taken a sample outside the lab with no way for officials to know something was missing. The institute has been under pressure to tighten security in the wake of the 2001 anthrax attacks, which killed five people and sickened 17. FBI investigators say they think the anthrax strain used in the attacks originated at the Army lab, and its prime suspect, Bruce E. Ivins, researched anthrax there. Ivins committed suicide last year during an investigation into his activities.

Note: Fort Detrick is the home of the government lab which is suspected to be involved with the creation of many previously unknown lethal viruses and germs. For lots more, see the excellent work of Dr. Leonard Horowitz at this link and this one.


Pentagon Exam Calls Protests 'Low-Level Terrorism,' Angering Activists
2009-06-17, Fox News
http://www.foxnews.com/story/0,2933,526972,00.html

A written exam administered by the Pentagon labels "protests" as a form of “low-level terrorism” – enraging civil liberties advocates and activist groups who say it shows blatant disregard of the First Amendment. The written exam, given as part of Department of Defense employees’ routine training, includes a multiple-choice question that asks: “Which of the following is an example of low-level terrorism?” – Attacking the Pentagon – IEDs – Hate crimes against racial groups – Protests. The correct answer, according to the exam, is "Protests." “Its part of a pattern of equating dissent and protest with terrorism," said Ann Brick, an attorney with the American Civil Liberties Union, which obtained a copy of the question after a Defense Department employee who was taking the test printed the screen on his or her computer terminal. "It undermines the core constitutional values the Department of Defense is supposed to be defending,” Brick said, referring to the First Amendment right to peaceably assemble. She said the ACLU has asked the Defense Department to remove the question and send out a correction to all employees who took the exam. “There were other employees who were unhappy with it and disturbed by it,” Brick said. Anti-war protesters, who say they have been targets of federal surveillance for years, were livid when they were told about the exam question. “That’s illegal,” said George Martin, national co-chairman of United for Peace and Justice. “Protest in terms of legal dissent has to be recognized, especially by the authorities. It’s not terrorism or a lack of patriotism. We care enough to be active in our government.”

Note: For lots more on the continually-escalating government threats to civil liberties, click here.


Why Sky-High CEO Pay Is Bad Business
2009-06-17, Harvard Business Review
https://hbr.org/2009/06/why-high-ceo-pay-is-bad-business/

If companies don't ... focus on "internal equity" – how the highest paid executive's pay compares with that of everyone else in the organization – they risk losing their own staff's dedication and focus. Indeed, a bias to focus only on the external market in recent years has helped push executive compensation way out of whack. Because of the yawning gap between the leaders and the led, employee morale is suffering, talented performers' loyalty is evaporating, and strategy and execution is suffering at American companies. A smaller gap makes for greater solidarity, and as a result better performance, throughout the workplace. At Whole Foods, we've made adjustments to keep the external and internal equity perspectives in balance. We have a salary cap – the maximum allowable ratio of the highest cash compensation to average employee cash compensation. Today it's 19 to 1. The maximum cash compensation anyone can make at Whole Foods at about $650,000. Whole Foods has never lost to a competitor a top executive that we wanted to keep since the company began more than 30 years ago. The truth is that maximizing personal compensation is not the only motivation that people have in their work. We discover that once our basic material needs are satisfied, money becomes less important to us. In my experience, deeper purpose, personal growth, self-actualization, and caring relationships provide very powerful motivations and are more important than financial compensation for creating both loyalty and a high performing organization.

Note: This article was written by the CEO of Whole Foods, John Mackey. For more along these lines, see concise summaries of deeply revealing news articles on income inequality from reliable major media sources.


E-Mail Surveillance Renews Concerns in Congress
2009-06-17, New York Times
http://www.nytimes.com/2009/06/17/us/17nsa.html

The National Security Agency is facing renewed scrutiny over the extent of its domestic surveillance program, with critics in Congress saying its recent intercepts of the private telephone calls and e-mail messages of Americans are broader than previously acknowledged, current and former officials said. Since April, when it was disclosed that the intercepts of some private communications of Americans went beyond legal limits in late 2008 and early 2009, several Congressional committees have been investigating. Those inquiries have led to concerns in Congress about the agency’s ability to collect and read domestic e-mail messages of Americans on a widespread basis, officials said. Supporting that conclusion is the account of a former N.S.A. analyst who, in a series of interviews, described being trained in 2005 for a program in which the agency routinely examined large volumes of Americans’ e-mail messages without court warrants. Two intelligence officials confirmed that the program was still in operation. Both the former analyst’s account and the rising concern among some members of Congress about the N.S.A.’s recent operation are raising fresh questions about the spy agency. Representative Rush Holt, Democrat of New Jersey and chairman of the House Select Intelligence Oversight Panel, has been investigating the incidents and said he had become increasingly troubled by the agency’s handling of domestic communications. In an interview, Mr. Holt disputed assertions by Justice Department and national security officials that the overcollection was inadvertent. “Some actions are so flagrant that they can’t be accidental,” Mr. Holt said.

Note: For lots more from major media sources on the ever-increasing government and coroporate threats to privacy, click here.


Swine flu shots may go to kids first, Sebelius says
2009-06-16, USA Today/Associated Press
http://www.usatoday.com/news/health/2009-06-16-swine-flu-vaccine_N.htm

Schoolchildren could be first in line for swine flu vaccine this fall — and schools are being put on notice that they might even be turned into shot clinics. Health and Human Services Secretary Kathleen Sebelius said Tuesday she is urging school superintendents around the country to spend the summer preparing for that possibility, if the government goes ahead with mass vaccinations. "If you think about vaccinating kids, schools are the logical place," Sebelius told The Associated Press. No decision has been made yet on whether and how to vaccinate millions of Americans against the new flu strain that the World Health Organization last week formally dubbed a pandemic, meaning it now is circulating the globe unchecked. But the U.S. is pouring money into development of a vaccine in anticipation of giving at least some people the shots. While swine flu doesn't yet seem any more lethal than the regular flu that each winter kills 36,000 people in the U.S. alone, scientists fear it may morph into a more dangerous type. Even in its current form, the WHO says about half of the more than 160 people worldwide killed by swine flu so far were previously young and healthy. If that trend continues, "the target may be school-age children as a first priority" for vaccination, Sebelius said Tuesday. "That's being watched carefully." The last mass vaccination against a different swine flu, in the U.S. in 1976, was marred by reports of a paralyzing side effect — for a feared outbreak that never happened. The secretary said: "The worst of all worlds is to have the vaccine cause more damage than the flu potential."

Note: This article admits "swine flu doesn't yet seem any more lethal than the regular flu that each winter kills 36,000 people in the U.S. alone." Be very cautious around any vaccination campaign. Vaccines are extremely poorly regulated and known to fill the wallets of rich politicians invested in them. For lots more reliable, verifiable information on this, click here.


Torture, the painful truth
2009-06-15, Los Angeles Times
http://www.latimes.com/news/opinion/la-oe-ehrenreich15-2009jun15,0,512919.story

Perhaps we protest too much. Torture, after all, is a venerable American tradition. If not quite as homespun as apple pie or lynching, it is at least as old as our imperial aspirations. We were waterboarding captives in one of our earliest wars of occupation, the Philippine-American War, which cost as many as 1 million civilian lives. In 1902, Teddy Roosevelt himself wrote with laconic praise of "the old Filipino method." Other techniques, crude or sophisticated, have filled the war bag since. CIA interrogation manuals from the 1960s, which lay out the basic stress-position and sleep- and sensory-deprivation techniques later applied at Bagram and Guantanamo, have been public since 1997. Despite our protestations, we have little to be surprised about. Now, when President Obama vows that "the United States does not torture" and spars with the former vice president over details, he crosses his fingers behind his back and saves himself a loophole. Via "extraordinary rendition" -- a Clinton administration innovation -- our government is still free to outsource torture and claim it doesn't know. The Obama administration has been relying increasingly on foreign intelligence services to detain and interrogate our suspects for us. Despite hundreds of front-page stories, we pretend we didn't know, that it was all somehow kept secret from us. This blindness serves a function. By declaring torture anomalous, by pushing it once again to the margins of legality, we can preserve a vision of U.S. military power -- and of American empire -- that is essentially benevolent. [But] maintaining military and economic hegemony over the planet remains an inherently bloody affair. Empire is a synonym for subjugation, and hence for violence on a massive scale.

Note: For a retired Marine Corps general's understanding of the real reasons behind both torture and mass slaughter of civilian populations by the US military, click here.


On Web and iPhone, a Tool to Aid Careful Shopping
2009-06-15, New York Times
http://www.nytimes.com/2009/06/15/technology/internet/15guide.html

These days, every skin lotion and dish detergent on store shelves gloats about how green it is. How do shoppers know which are good for them and good for the earth? It was a similar question that hit Dara O’Rourke, a professor of environmental and labor policy at the University of California, Berkeley, one morning when he was applying sunscreen to his young daughter’s face. He realized he did not know what was in the lotion. He went to his office and quickly discovered that it contained a carcinogen activated by sunlight. It also contained an endocrine disruptor and two skin irritants. He also discovered that her soap included a kind of dioxane, a carcinogen, and then found that one of her brand-name toys was made with lead. And in looking for the answer, he hatched the idea for a company that used his esoteric research on supply chain management. “All I do is study this, and I know nothing about the products I’m bringing into our house and putting in, on and around our family,” Mr. O’Rourke said. But when he wanted to find that information, he could. Most consumers would struggle to do so. Hence GoodGuide, a Web site and iPhone application that lets consumers dig past the package’s marketing spiel by entering a product’s name and discovering its health, environmental and social impacts. GoodGuide’s office, in San Francisco, has 12 full-time and 12 part-time employees, half scientists and half engineers. They have scored 75,000 products with data from nearly 200 sources, including government databases, studies by nonprofits and academics, and the research by scientists on the GoodGuide staff.

Note: Check out this excellent means of finding what is in the products you use.


Lawmakers Reveal Health-Care Investments
2009-06-13, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/12/AR20090612040...

Almost 30 key lawmakers helping draft landmark health-care legislation have financial holdings in the industry, totaling nearly $11 million worth of personal investments in a sector that could be dramatically reshaped by this summer's debate. The list of members who have personal investments in the corporations that will be affected by the legislation -- which President Obama has called this year's highest domestic priority -- includes Congress's most powerful leaders and a bipartisan collection of lawmakers in key committee posts. Their total health-care holdings could be worth $27 million, because congressional financial disclosure forms released yesterday require reporting of only broad ranges of holdings rather than precise values of assets. Senate Majority Leader Harry M. Reid (D-Nev.), for instance, has at least $50,000 invested in a health-care index, and Sen. Judd Gregg (R-N.H.), a senior member of the health committee, has between $254,000 and $560,000 worth of stock holdings in major health-care companies, including Bristol-Myers Squibb and Merck. The family of Rep. Jane Harman (D-Calif.), a senior member of the House Energy and Commerce Committee drafting that chamber's legislation, held at least $3.2 million in more than 20 health-care companies at the end of last year. "If someone is going to be substantially enriched by the consequences of the vote, particularly if it represents a meaningful amount of their net worth, then there is a problem," said Harlan Krumholz, a professor of medicine at Yale University.

Note: For more powerful information on major corruption in health care reform, click here. For lots more on government corruption from reliable, verfiiable sources, click here.


'We are fighting for our lives and our dignity'
2009-06-13, The Guardian (One of the U.K.'s leading newspapers)
http://www.guardian.co.uk/environment/2009/jun/13/forests-environment-oil-com...

Across the globe, as mining and oil firms race for dwindling resources, indigenous peoples are battling to defend their lands – often paying the ultimate price. It has been called the world's second "oil war", but the only similarity between Iraq and events in the jungles of northern Peru over the last few weeks has been the mismatch of force. On one side have been the police armed with automatic weapons, teargas, helicopter gunships and armoured cars. On the other are several thousand Awajun and Wambis Indians, many of them in war paint and armed with bows and arrows and spears. The Indians this week warned Latin America what could happen if companies are given free access to the Amazonian forests to exploit an estimated 6bn barrels of oil and take as much timber they like. After months of peaceful protests, the police were ordered to use force to remove a road block near Bagua Grande. In the fights that followed, at least 50 Indians and nine police officers were killed, with hundreds more wounded or arrested. The indigenous rights group Survival International described it as "Peru's Tiananmen Square". "For thousands of years, we've run the Amazon forests," said Servando Puerta, one of the protest leaders. "This is genocide. They're killing us for defending our lives, our sovereignty, human dignity." Peru is just one of many countries now in open conflict with its indigenous people over natural resources. Barely reported in the international press, there have been major protests around mines, oil, logging and mineral exploitation in Africa, Latin America, Asia and North America. Hydro electric dams, biofuel plantations as well as coal, copper, gold and bauxite mines are all at the centre of major land rights disputes.

Note: Click on the link above to read this important article in its entirety. It reports on numerous struggles around the world by indigenous people to protect their livelihoods and traditions from corporate and governmental predation.


Meet Your New Farmer: Hungry Corporate Giant
2009-06-12, New York Times
http://movies.nytimes.com/2009/06/12/movies/12food.html

Forget buckets of blood. Nothing says horror like one of those tubs of artificially buttered, nonorganic popcorn at the concession stand. That, at least, is one of the unappetizing lessons to draw from one of the scariest movies of the year, “Food, Inc.,” an informative ... documentary about the big business of feeding or, more to the political point, force-feeding, Americans all the junk that multinational corporate money can buy. You’ll shudder, shake and just possibly lose your genetically modified lunch. The director Robert Kenner jumps all over the food map, from industrial feedlots where millions of cruelly crammed cattle mill about in their own waste until slaughter, to the chains where millions of consumers gobble down industrially produced meat and an occasional serving of E. coli bacteria. The voice in the opening belongs to the ethical epicurean and locavore champion Michael Pollan, author of In Defense of Food and The Omnivore’s Dilemma. Mr. Pollan ... is a great strength of “Food, Inc.,” as is one of its co-producers, Eric Schlosser, the author of Fast Food Nation. [They], together with Mr. Kenner, chart how and why the villains not only outnumber the heroes in contemporary food production, but also how and why they outbluff, outmuscle and outspend their opponents by billions of often government-subsidized dollars. The movie takes a look at the animal abuse in industrial food production — including clandestine images of sick and crippled cows being prodded to join the rest of the ill-fated herd — but its main focus is on the human cost. It’s a cost visible in the rounded bodies of a poor family that eats cheap if filling fast-food burgers for breakfast and in the obscured faces of farmers too frightened to go on record about Monsanto, the agricultural biotech giant.

Note: For another excellent review of this important film, click here.


Military Covering Up Fireballs From Space
2009-06-11, Fox News
http://www.foxnews.com/story/0,2933,525832,00.html

For 15 years, scientists have benefited from data gleaned by U.S. classified satellites of natural fireball events in Earth's atmosphere — but no longer. A recent U.S. military policy decision now explicitly states that observations by hush-hush government spacecraft of incoming bolides and fireballs are classified secret and are not to be released. The satellites' main objectives include detecting nuclear bomb tests, and their characterizations of asteroids and lesser meteoroids as they crash through the atmosphere has been a byproduct data bonanza for scientists. The upshot: Space rocks that explode in the atmosphere are now classified. Scientists say not only will research into the threat from space be hampered, but public understanding of sometimes dramatic sky explosions will be diminished, perhaps leading to hype and fear of the unknown. "The fireball data from military or surveillance assets have been of critical importance for assessing the impact hazard," said David Morrison, a Near Earth Object (NEO) scientist at NASA's Ames Research Center. He noted that his views are his own, not as a NASA spokesperson. "These fireball data together with astronomical observations of larger near-Earth asteroids define the nature of the impact hazard and allow rational planning to deal with this issue," Morrison said.

Note: For lots more on government secrecy from major media sources, click here.


Fed Would Be Shut Down If It Were Audited, Expert Says
2009-06-10, CNBC News
http://www.cnbc.com/id/31204170

The Federal Reserve's balance sheet is so out of whack that the central bank would be shut down if subjected to a conventional audit, Jim Grant, editor of Grant's Interest Rate Observer, told CNBC. With $45 billion in capital and $2.1 trillion in assets, the central bank would not withstand the scrutiny normally afforded other institutions, Grant said. "If the Fed examiners were set upon the Fed's own documents ... to pass judgment on the Fed's capacity to survive the difficulties it faces in credit, it would shut this institution down," he said. "The Fed is undercapitalized in a way that Citicorp is undercapitalized." Grant said he would support legislation currently making its way through Congress calling for an audit of the Fed. Moreover, he criticized the way the Fed has managed the financial crisis, saying the central bank's target rate should not be around zero. "I think zero is the wrong rate for almost any economy," Grant said, adding the Fed has "embarked on a vast experiment in moral hazard. Interest rates are the traffic signals in a market economy, and everything's green. ... You have to wonder whether these interest rates are the right clearing rate or rather they are the imposition of a central bank." Amid a disparity between analysts predicting there will be no rate hikes soon and the fed funds futures indicating tightening by the end of the year, Grant said he thinks the Fed indeed will begin raising rates as inflation creeps into the picture. Fed funds futures have fully priced in as much as a half-point rise in the target rate from its current range of zero to 0.25 percent. "If the hairs on the back of your neck stand up when there's too much unanimity of opinion, then one begins to worry about this," he said. "The Fed proverbially has been late."

Note: For an astonishing five-minute video clip of a Congressional hearing where the Inspector General of the Fed acknowledges she knows almost nothing about trillions of dollars missing from the Fed, click here. For many more important reports shedding light on the hidden realities of the economic crisis, click here.


MIA may be a quarantine site in pandemic
2009-06-10, Miami Herald (Miami's leading newspaper)
http://www.miamiherald.com/business/story/1089929.html

Miami International Airport [MIA] and 18 other major American airports have been lined up to handle a future pandemic that could require them to quarantine international flights. The U.S. Centers for Disease Control and Prevention has set up stand-by quarantine/screening facilities at the 19 airports to which all flights from affected countries would be diverted. Nationally, airline and airport lobbyists predict chaos, saying there is no way the air-traffic system can handle such extensive rerouting. Now, new proposals are emerging in Washington, including one that would designate Fort Lauderdale-Hollywood, Orlando International and four other major airports as potential second-tier quarantine sites. Local officials say they understand the CDC will approve the new designations only if the airports pay for the quarantine facilities themselves. The CDC would pay for the quarantine stations at the 19 primary airports. The facilities are not cheap. A 2008 study by the Federal Aviation Administration concluded that setting aside space for health screenings and a quarantine of up to 200 people could cost $15,000 a month, with costs of an actual quarantine running into the hundreds of thousands of dollars. Fort Lauderdale-Hollywood officials began developing a plan to handle quarantined passengers and flights several years ago during the bird flu scare. It calls for erecting air-conditioned tents on the runway ramps to screen or quarantine passengers before they enter the terminal. Quarantined passengers might have to remain for days to show they are not infectious.


Top Chinese banker Guo Shuqing calls for wider use of yuan
2009-06-08, The Telegraph (One of the U.K.'s leading newspapers)
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/5473491/Top-...

The head of China's second-largest bank has said the United States government should start issuing bonds in yuan, rather than dollars, in the latest indication of the increasing importance of the Chinese currency. Guo Shuqing, the chairman of state-controlled China Construction Bank (CCB), also said he is exploring the possibility of issuing loans to trading companies in yuan, allowing Chinese and foreign companies to settle their bills in yuan rather than in dollars. Mr Guo said the issuing of yuan bonds in Hong Kong and Shanghai would help to develop the debt markets in China and promote the yuan as a major international currency. It was the first time the head of a major Chinese bank has called for the wider use of the yuan, although a chorus of senior government officials have already voiced their concerns about the stability of the dollar and have said the yuan should be used more widely. "I think the US government and the World Bank can consider the issuing of [yuan] bonds," he said, asking for a "mutual cooperation" between the US and China to promote Chinese financial services. Mr Guo is a former head of China's foreign-exchange administration, which manages the country's $1.9 trillion foreign exchange reserves. He said he was confident the yuan would become a major currency in the medium-to-long term. Two months ago, before the G20 meeting in London, Zhou Xiaochuan, the head of the People's Bank of China, the central bank, published a personal paper proposing to replace the dollar as the international reserve currency. His call came after Wen Jiabao, the Chinese premier, asked the US to guarantee the safety of China's huge pile of US debt.

Note: For many more important reports shedding light on the hidden realities of the US and world economic crisis, click here.


Military spending sets new record
2009-06-08, BBC News
http://news.bbc.co.uk/2/hi/business/8086117.stm

Global military spending rose 4% in 2008 to a record $1,464bn (Ł914bn) - up 45% since 1999, according to the Stockholm-based peace institute Sipri. "The global financial crisis has yet to have an impact on major arms companies' revenues, profits and order backlogs," Sipri said. Peace-keeping operations - which also benefit defence firms - rose 11%. Missions were launched in trouble spots such as Darfur and the Democratic Republic of the Congo. "Another record was set, with the total of international peace operation personnel reaching 187,586," said Sipri. As the world's aerospace and defence industry prepares for next week's Paris air show centenary, it seems much of the focus is set to shift away from troubled civilian aircraft makers, which are struggling with reduced orders from recession-hit airlines, towards the companies that make fighter jets and other military hardware. In total, the 100 leading defence manufacturers sold arms worth $347bn during 2007, the most recent year for which reliable data are available. Almost all the companies were American or European. "Since 2002, the value of the top 100 arms sales has increased by 37% in real terms," Sipri said. US military spending accounted for 58% of the total global spending increase during the decade, with extra funds set aside to fight the "war on terror". "The idea of the 'war on terror' has encouraged many countries to see their problems through a highly militarised lens, using this to justify high military spending," said Sam Perlo-Freeman, head of the military expenditure project at Sipri.

Note: With all of the government cost-cutting in so many sectors, why aren't more people calling for military cutbacks? For a top U.S. general's insight into the profiteering that drives war (and "peacekeeping" operations as well), click here.


The Economy Is Still at the Brink
2009-06-07, New York Times
http://www.nytimes.com/2009/06/07/opinion/07cohanWEB.html

Whether at a fund-raising dinner for wealthy supporters in Beverly Hills, or at an Air Force base in Nevada, or at Charlie Rose’s table in New York City, President Obama is conducting an all-out campaign to try to make us feel a whole lot better about the economy as quickly as possible. “It’s safe to say we have stepped back from the brink, that there is some calm that didn’t exist before,” he told donors at the Beverly Hilton Hotel late last month. Mr. Obama thinks that the way to revive the economy is to restore confidence in it. If the mood is right, the capital will flow. But this belief is dangerously misguided. We are sympathetic to the extraordinary challenge the president faces, but if we’ve learned anything at all two years into the worst financial crisis of our lifetimes, it is that a capital-markets system this dependent on public confidence is a shockingly inadequate foundation upon which to rest our economy. We have both spent large chunks of our lives working on Wall Street, absorbing its ethic and mores. We’re concerned that nothing has really been fixed. We’re doubly concerned that people appear to feel the worst of the storm is over — and in this, they are aided and abetted by ... the fact that the Dow has increased by 35 percent or so since Mr. Obama started to lay out his economic plans in March. But wishing for improvement and managing by the Dow’s swings are a fool’s game. The storm is not over, not by a long shot. Huge structural flaws remain in the architecture of our financial system, and many of the fixes that the Obama administration has proposed will do little to address them and may make them worse.

Note: For many more important reports shedding light on the hidden realities of the US and world economic crisis, click here.


Network of Wi-Fi-Enabled Cyborg Insects Hunts Down WMDs
2009-06-07, Popular Science magazine
http://www.popsci.com/military-aviation-amp-space/article/2009-06/insect-wifi...

In its attempts to quash weapons of mass destruction, the Pentagon has been trying novel ways to track down dangerous materiel. For years, DARPA [the Defense Advanced Research Projects Agency] has been trying to train insects and bugs to sniff out toxic substances, providing more sensitive detection, as well as access that conventional sensors might not have. The newest twist on this concept is a plan to link up armies of the cyborg bugs in a peer-to-peer, or insect-to-insect, network that will allow them to communicate with each other and with their human masters. This next approach will implant insects with a chip that reads certain muscle twitches, which correspond to the presence of certain chemicals. The chips will then modify the chirps of insects like cicadas or crickets into an electronic signal that could be transmitted to other chipped insects in the area. Information about detected weaponized chemicals could bounce around this mobile insect network, and then be picked up by humans. The idea of creating a decentralized communication network between free-roaming insects could radically increase the bugs' range of detection.

Note: For a video and more on this, see the New Scientist article at this link.


Historic Broadcast of "9/11 Press For Truth"
2009-06-06, KBDI-TV (Colorado Public Television station)
http://www.kbdi.org/tv_schedule/program_details.cfm?id=120090606210000

Following the attacks of September 11th, a small group of grieving families waged a tenacious battle against those who sought to bury the truth about the event. In this documentary, six of them – including three of the famous 9/11 widows known as the "Jersey Girls" – tell the powerful story of how they took on the greatest powers in Washington, compelling lawmakers to launch an investigation that ultimately failed to answer most of their questions. The filmmakers collaborated with the media group Globalvision to stitch together overlooked news clips, buried stories, and government press conferences, revealing a pattern of official lies, deception, and spin. As a result, a very different picture of 9/11 emerges – one that raises new, and more pressing, questions. To mark the film's U.S. broadcast premiere, Executive Producer Kyle Hence, Director Ray Nowosielski, and family member Bob McIlvaine – who lost his son Bobby in the attacks on New York – will be in the KBDI studios to discuss the film throughout the evening. Additionally, volunteers from Colorado 911 Visibility will be on hand to answer phones.

Note: To watch this important, landmark 9/11 documentary, click here. This highly engaging, well researched film may be the best way yet to open the eyes of those who don't know about the major 9/11 cover-up.


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