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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.


Skull And Bones
2004-06-13, CBS News
https://web.archive.org/web/20040616075605/http://www.cbsnews.com/stories/200...

As opposite as George Bush and John Kerry may seem to be, they do share a common secret - one they've shared for decades. The secret: details of their membership in Skull and Bones, the elite Yale University society whose members include some of the most powerful men of the 20th century. Bonesmen, as they're called, are forbidden to reveal what goes on in their inner sanctum. Bones has included presidents, cabinet officers, spies, Supreme Court justices, [and] captains of industry. They'd responded to questions with utter silence until an enterprising Yale graduate, Alexandra Robbins, managed to penetrate the wall of silence in her book, Secrets of the Tomb. "I spoke with about 100 members of Skull and Bones. They were members who were tired of the secrecy," says Robbins. "But probably twice that number hung up on me, harassed me, or threatened me." Skull and Bones, with all its ritual and macabre relics, was founded in 1832. Since then, it has chosen or "tapped" only 15 senior students a year who become ... lifetime members of the ultimate old boys' club. A lot of Bonesmen have gone on to positions of great power. President Bush ... tapped five fellow Bonesmen to join his administration. Bonesmen have [included] William Howard Taft, the 27th President; Henry Luce, the founder of Time Magazine; and W. Averell Harriman, the diplomat and confidant of U.S. presidents. Mr. Bush, like his father and grandfather before him, has refused to talk openly about Skull and Bones. But as a Bonesman, he was required to reveal his innermost secrets to his fellow Bones initiates. They're supposed to recount their entire sexual histories in ... a dimly-lit cozy room.

Note: For a highly revealing, four-minute CNN News clip on Skull and Bones, click here. For other major media news clips reporting on this powerful secret society, click here. And for lots more reliable information from major media sources on powerful, secret groups like this, click here.


Woman awarded $100,000 for CIA-funded electroshock
2004-06-10, CBC News (Canada's PBS)
http://www.cbc.ca/stories/2004/06/10/canada/shock_award040610

A Montreal woman who underwent intense electroshock treatment in a program funded by the CIA 50 years ago has been awarded $100,000. Gail Kastner was given massive electroshock therapy to treat depression in 1953 at the Allan Memorial Institute in Montreal. She was left out of a federal compensation package in 1994 because her treatment was deemed to have been less intense than that of other victims of the experiments. Her treatment was also found to have had fewer long-term effects. A Federal Court judge reversed that ruling, and awarded her the same amount Ottawa gave to 77 others as compensation for their treatment. Dr. Ewan Cameron, who was director of the Allan Memorial Institute, conducted experiments using electroshock and drug-induced sleep. The research was funded from 1950 to 1965 by the CIA and by the Canadian government.

Note: Did you know that 78 people received awards of $100,000 each for having been subjected to CIA and government-funded experiments in controlling the mind? There is much more to this story. Don't miss our very well documented two-page summary on this little-known topic: click here.


Defense Department drops $100M on unused airline tickets
2004-06-09, USA Today/New York Times/Associated Press
http://www.usatoday.com/travel/news/2004-06-09-pentagon-flights_x.htm

The Defense Department spent an estimated $100 million for airline tickets that were not used over a six-year period and failed to seek refunds even though the tickets were reimbursable, congressional investigators say. The GAO estimated that between 1997 and 2003, the Defense Department bought at least $100 million in tickets that were not used or used only partially by a passenger who did not complete all legs of a flight. The waste went undetected because the department relied on individuals to report the unused tickets. They did not do so. "The millions of dollars wasted on unused airline tickets provides another example of why DOD financial management is one of our high-risk areas, with DOD highly vulnerable to fraud, waste and abuse," the GAO said. Two of the three lawmakers who asked for the study were Republicans, and both were highly critical of the Pentagon's lack of financial control. Sen. Charles Grassley, R-Iowa, said, "It's outrageous that the Defense Department would be sending additional federal tax dollars to the airlines by way of unused passenger tickets." While one GAO report focused on the unused tickets, the second investigation found potential fraud. It said the department paid travelers for tickets the department already bought and reimbursed employees for tickets that had not been authorized. It is a crime for a government employee knowingly to request reimbursement for goods and services he or she did not buy. To demonstrate how easy it was to have the Pentagon pay for airline travel, the investigators posed as Defense employees, had the department generate a ticket and showed up at the ticket counter to pick up a boarding pass.

Note:To read this astonishing article on the New York Times website, click here.


Technology gets under clubbers' skin
2004-06-09, CNN News
http://edition.cnn.com/2004/WORLD/europe/06/09/spain.club

Queuing to get into one nightclub in Spain could soon be a thing of the past for regular customers thanks to a tiny computer chip implanted under their skin. The technology, known as a VeriChip, also means nightclubbers can leave their cash and cards at home and buy drinks using a scanner. The bill can then be paid later. Clubbers who want to join the scheme at Baja Beach Club in Barcelona pay 125 euros (about US $150) for the VeriChip -- about the size of a grain of rice -- to be implanted in their body. Then when they pass through a scanner the chip is activated and it emits a signal containing the individual's number, which is then transmitted to a secure data storage site. The club's director, Conrad Chase, said he began using the VeriChip, made by Applied Digital Solutions, in March 2004 because he needed something similar to a VIP card and wanted to provide his customers with better service. He said 10 of the club's regular customers, including himself, have been implanted with the chip, and predicted more would follow. "I know many people who want to be implanted," said Chase. "Almost everybody now has a piercing, tattoos or silicone. Why not get the chip and be original?" Chase said VeriChip could also boost security by speeding up checks at airports, for example. He denied the scheme had any drawbacks. The VeriChip is an in-house debit card and contains no personal information.

Note: Why is the media so upbeat about this? The article raises very few questions, yet seems to promote microchip implants in humans as the wave of the future for commerce.


Bilderberg: The ultimate conspiracy theory
2004-06-03, BBC News
http://news.bbc.co.uk/1/hi/magazine/3773019.stm

The Bilderberg group, an elite coterie of Western thinkers and power-brokers, has been accused of fixing the fate of the world behind closed doors. As the organisation marks its 50th anniversary, rumours are more rife than ever. On Thursday the Bilderberg group marks its 50th anniversary with the start of its yearly meeting. For four days some of the West's chief political movers, business leaders, bankers, industrialists and strategic thinkers will hunker down in a five-star hotel in northern Italy to talk about global issues. What sets Bilderberg apart from other high-powered get-togethers, such as the annual World Economic Forum (WEF), is its mystique. Not a word of what is said at Bilderberg meetings can be breathed outside. No reporters are invited in and while confidential minutes of meetings are taken, names are not noted. A former journalist, Mr Gosling runs a campaign against the group from his home in Bristol, UK." One of the first places I heard about the determination of US forces to attack Iraq was from leaks that came out of the 2002 Bilderberg meeting," says Mr Gosling.


Who killed Nick Berg?
2004-05-29, Sydney Morning Herald
http://www.smh.com.au/articles/2004/05/28/1085641717320.html

Iraq in flames, Washington an object of disgust. What to do? At this pivotal moment, CNN and Fox News are tipped off to a clip of an American citizen being beheaded. The victim is ... Nick Berg.The vile deed is deemed the work of al-Qaeda. The timing of the video was brilliant for the West. Media pundits judged the crime a deeper evil than the systemic torture of innocent Iraqis. But some people sensed a rat. But if it was not al-Qaeda, who? While this video shows a human body having its head chopped off, it does not necessarily portray an act of murder. A month before the discovery of [his] corpse, Berg had been released from custody. But whose custody? Brigadier General Mark Kimmitt ... claimed he was in the custody of Iraqi police. However, the Iraqi police chief [stated] "the Iraqi police never arrested the slain American". Berg's family are certain his jailers were the US military. His father, Michael, had been told so by the FBI. He has produced an email from a US consular official ... confirming that his son was in the hands of the US. In his final moments on screen Berg is wearing an orange jumpsuit of the kind familiar from Guantanamo Bay. His white chair is identical to those in the photographs of the Abu Ghraib prison tortures. During the decapitation, starting at the front of the throat, there is little sign of blood. The scream is wildly out of sync, sounds female, and is obviously dubbed. Dr John Simpson, executive director for surgical affairs at the Royal Australasian College of Surgeons ... agrees with other experts who find it highly probable that Berg had died before his decapitation. There's something fishy about this video. In the end, the question is: who killed Nick Berg, and why?

Note: If the above link fails, click here. For a CNN article raising other serious questions on Berg, click here. For more reliable information on how government can control and manipulate public perception, click here.


Enough evidence for trial of CIA drugging
2004-05-25, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2004/05/25/BAGMH6R8OU1.DTL

A San Jose man who claimed the CIA secretly had given him LSD in 1957 as part of a mind-control experiment -- causing him to try to hold up a San Francisco bar ... offered enough evidence of possible drugging to go to trial on his $12 million damages suit. The decision by Chief U.S. District Judge Marilyn Hall Patel cited what appeared to be an admission by a former operative in the CIA program ... that he had slipped LSD into one of Wayne Ritchie's drinks. "I drugged guys involved in about 10, 12 (instances)," former federal narcotics agent Ira Feldman, who worked for the CIA's Project MKULTRA, told Ritchie's lawyer. The [MKULTRA] program ... was an attempt to find chemicals or techniques that could control human consciousness. The CIA and federal narcotics agents started giving mind-altering drugs to unsuspecting government employees, private citizens and prison volunteers in the early 1950s. Ritchie believes he was drugged during an office Christmas party. He ... was overcome with depression and a feeling that everyone had turned against him. He ... drove to a Fillmore District bar, demanded money ... and was hit over the head and knocked unconscious. He pleaded guilty to attempted robbery. Ritchie quit his job in disgrace, found work as a housepainter and spent years fighting off suicidal urges. Then in 1999, he read the obituary of MKULTRA's director, Sidney Gottlieb, and began to believe he had been one of the program's guinea pigs -- especially after the diary of a now-deceased MKULTRA agent showed he might have attended the same Christmas party.

Note: Though Ritchie lost the first round in court, he plans to appeal. For an abundance of reliable, verifiable information on secret government mind control programs, click here.


The Politics of Happiness
2004-05-20, Yes! Magazine
http://www.yesmagazine.org/issues/finding-courage/the-politics-of-happiness

We really have to admit that over the past 100 years we have been building cities much more for mobility than for people's well-being. Every year thousands of children are killed by cars. Isn't it time we build cities that are more child-friendly? Children are a kind of indicator species. If we can build a successful city for children, we will have a successful city for all people. When I was elected mayor of Bogotá and got to city hall, I was handed a transportation study that said the most important thing the city could do was to build an elevated highway at a cost of $600 million. Instead, we installed a bus system that carries 700,000 people a day at a cost of $300 million. We created hundreds of pedestrian-only streets, parks, plazas, and bike paths, planted trees, and got rid of cluttering commercial signs. We constructed the longest pedestrian-only street in the world. It may seem crazy, because this street goes through some of the poorest neighborhoods in Bogotá, and many of the surrounding streets aren't even paved. But we chose not to improve the streets for the sake of cars, but instead to have wonderful spaces for pedestrians. All this pedestrian infrastructure shows respect for human dignity. We're telling people, “You are important—not because you're rich or because you have a Ph.D., but because you are human.” If people are treated as special, as sacred even, they behave that way. This creates a different kind of society.

Note: For more on the amazing work of Enrique Peńalosa, click here. For the highly inspiring story of Mayor Antanas Mockus, also of Bogotá, click here.


Blame the feds for fuel economy figures that don't match real world
2004-05-19, WantToKnow.info/Detroit News
http://www.WantToKnow.info/040519fueleconomymonitors

Honda Motor Co. and Toyota Motor Co. are probably wishing they’d never put those fun fuel economy monitors in their gasoline-electric hybrid vehicles. The displays are causing angst among some owners who aren’t getting the miles-per-gallon performance posted on their window sticker. Frustrated consumers are asking dealerships to “fix” their vehicles. Pete Blackshaw of Cincinnati is chronicling his dismay publicly in his own Internet blog. He says Honda is ignoring his claim that he’s never gotten more than 33 mpg in his Civic Hybrid. The combined city/highway rating from the car’s window sticker is 47.


Berg's encounter with 'terrorist' revealed
2004-05-14, CNN News
http://www.cnn.com/2004/US/Northeast/05/13/berg.encounter/

When Nicholas Berg took an Oklahoma bus to a remote college campus a few years ago, the American recently beheaded by terrorists allowed a man with terrorist connections to use his laptop computer, according to his father. Michael Berg said the FBI investigated the matter more than a year ago. He stressed that his son was in no way connected to the terrorists who captured and killed him. Government sources told CNN that the encounter involved an acquaintance of Zacarias Moussaoui -- the only person publicly charged in the United States in connection with the September 11, 2001, terror attacks. According to Berg, his son was taking a course a few years ago at a remote campus of the University of Oklahoma near an airport. He described how on one particular day, his son met "some terrorist people -- who no one knew were terrorists at the time." At one point during the bus ride, Berg said, the man sitting next to his son asked if he could use Nick's laptop computer. Government sources said Berg gave the man his password, which was later used by Moussaoui, the sources said. The sources said the man who used Berg's e-mail knew Moussaoui. But the sources would not disclose details of how the men were connected.

Note: Other major media articles have pointed out a number of other strange "coincidences" connecting the man allegedgly beheaded and those accused of involvement in 9/11. How can that be? For lots more, click here.


Mexican A.F. Pilots Film 'UFOs'
2004-05-12, CBS News/Associated Press
http://www.cbsnews.com/stories/2004/05/12/world/main616937.shtml

Mexican Air Force pilots filmed 11 unidentified flying objects in the skies over southern Campeche state, a Defense Department spokesman confirmed. A videotape made widely available to the news media ... shows the bright objects, some sharp points of light and others like large headlights, moving rapidly in what appears to be a late-evening sky. The lights were filmed on March 5 by pilots using infrared equipment. They appeared to be flying at an altitude of about 11,480 feet, and allegedly surrounded the Air Force jet as it conducted routine anti-drug trafficking vigilance in Campeche. Only three of the objects showed up on the plane's radar. "Was I afraid? Yes. A little afraid because we were facing something that had never happened before," said radar operator Lt. German Marin in a taped interview. "I couldn't say what it was ... but I think they're completely real," added Lt. Mario Adrian Vazquez, the infrared equipment operator. Vazquez insisted that there was no way to alter the recorded images. The plane's captain, Maj. Magdaleno Castanon, said the military jets chased the lights "and I believe they could feel we were pursuing them." When the jets stopped following the objects, they disappeared, he said. A Defense Department spokesman confirmed ... that the videotape was filmed by members of the Mexican Air Force. The spokesman declined to comment further and spoke on customary condition of anonymity. The video was first aired on national television [and] then again at a news conference ... by Jaime Maussan, a Mexican investigator who has dedicated the past 10 years to studying UFOs. "This is historic news," Maussan told reporters. "Hundreds of videos (of UFOs) exist, but none had the backing of the armed forces of any country. ... The armed forces don't perpetuate frauds."

Note: To watch TV reports of this sighting on Fox News and CNN, click here.


F.A.A. Official Scrapped Tape of 9/11 Controllers' Statements
2004-05-06, New York Times
http://www.nytimes.com/2004/05/06/national/06CND-TAPE.html

At least six air traffic controllers who dealt with two of the hijacked airliners on Sept. 11, 2001, made a tape recording that same day describing the events, but the tape was destroyed by a supervisor without anyone making a transcript or even listening to it, the Transportation Department said in a report today. The taping began before noon on Sept. 11 at the New York Air Route Traffic Control Center, in Ronkonkoma, on Long Island, where about 16 people met in a basement conference room known as "the Bat Cave" and passed around a microphone, each recalling his or her version of the events a few hours earlier. But officials at the center never told higher-ups of the tape's existence, and it was later destroyed by an F.A.A. official described in the report as a quality-assurance manager there. That manager crushed the cassette in his hand, shredded the tape and dropped the pieces into different trash cans around the building. The inspector general, Kenneth M. Mead, said that the officials' keeping the existence of the tape a secret and the decision by one to destroy it had not served "the interests of the F.A.A., the department or the public" and could foster suspicions among the public.

Note: The destruction of the tape described in this article has raised questions from critics of the official explanation of the 9/11 attacks, in which the lack of a response by air defences to the hijackings was implausibly explained by a failure of the well-established communication system between the FAA and NORAD. For many other questions raised by highly credible members of government and the professions, click here and here.


FAA Managers Destroyed 9/11 Tape
2004-05-06, Washington Post
https://www.washingtonpost.com/archive/politics/2004/05/07/controllers-911-ta...

Six air traffic controllers provided accounts of their communications with hijacked planes on Sept. 11, 2001, on a tape recording that was later destroyed by Federal Aviation Administration managers. It is unclear what information was on the tape because no one ever listened to, transcribed or duplicated it. The FAA ... said it took disciplinary action against the employee who destroyed the tape but declined to elaborate on what kind of action they took. [Earlier, an FAA official incorrectly stated that the agency took action against two employees in the case.] Hours after the [9/11 attacks] an FAA manager at the New York Air Route Traffic Control Center gathered six controllers who communicated or tracked two of the hijacked planes and recorded in a one-hour interview their personal accounts of what occurred. The manager, who is not named in the report, said that his intentions were to provide quick information to federal officials investigating the attack before the air traffic controllers involved took sick leave for the stress of their experiences, as is common practice. A second manager ... destroyed the tape between December 2001 and January 2002 by crushing the tape with his hand, cutting it into small pieces and depositing the pieces into trash cans around the building. The tape's existence was never made known to federal officials investigating the attack. The New York managers acknowledged that they received an e-mail from FAA officials instructing them to retain all materials related to the Sept. 11 attacks. But the managers decided not to include the tape in a November 2001 "Formal Accident Package" report the office prepared.

Note: Why on earth wouldn't this most important tape have been included in the FAA's official report. And more importantly, why did someone later destroy it so carefully and thoroughly. For lots more, click here.


America's Deep, Dark Secret
2004-05-02, CBS 60 Minutes
http://www.cbsnews.com/stories/2004/04/29/60minutes/main614728.shtml

Starting in the early 1900s, hundreds of thousands of American children were warehoused in institutions by state governments. And the federal government did nothing to stop it. The justification? The kids had been labeled feeble-minded, and were put away in conditions that can only be described as unspeakable. A large proportion of the kids who were locked up were not retarded at all. They were simply poor, uneducated kids with no place to go, who ended up in institutions like the Fernald School in Waltham, Mass. The Fernald School, and others like it, was part of a popular American movement in the early 20th century called the Eugenics movement. The idea was to separate people considered to be genetically inferior from the rest of society, to prevent them from reproducing. Eugenics is usually associated with Nazi Germany, but in fact, it started in America. Not only that, it continued here long after Hitler's Germany was in ruins. Few of the attendants [at Fernald] showed any kindness. And ... there was sexual abuse. The place was tailor made for it. The school [also] allowed them to be used as human guinea pigs. In 1994 Senate hearings, it came out that scientists from MIT had been giving radioactive oatmeal to the boys ... in a nutrition study for Quaker Oats. All they knew is that they'd been asked to join a science club. The boys were recruited with special treats [like] extra milk. “But they forgot to mention the milk was radioactive,” says David White-Lief, an attorney who worked on the state task force investigating the science club. “These experiments, because of the lack of informed consent, violated the Nuremburg Code established just 10 years earlier,” says White-Lief.

Note: The extreme racism of the Nazis was quite popular among certain groups in the U.S. For lots more on how these ideas came to pervade some groups in U.S. intelligence services, click here. For a powerful list of military and government sponsored experiments on human guinea pigs with links for verification, click here.


Taking Stock of Family Business
2004-04-29, USA Today
http://www.usatoday.com/life/lifestyle/2004-04-29-family-mission-statements_x...

Family mission statements are a way of transferring your highly effective business habits to your home life. Finding the time to assemble a document that outlines a family's goals and philosophy might seem unrealistic ... but believers urge a closer look at what they hail as a method for getting unwieldy modern lives back on track. Laura Puryear was introduced to the concept when her mother handed her Stephen Covey's The 7 Habits of Highly Effective Families. In Habits, the well-known motivational guru asks couples to consider questions such as: "If our family is a plane, are we on course?" Conflicting answers are OK; the point is to discuss differences en route to a common destination. "The pace of life, technology and culture all put greater pressure on us to decide what's really important," says Covey. "We all have values that guide us, but 95% of us never write them down. It's precisely the act of writing that imprints it in the subconscious." Start from a family foundation of trust and openness, where everyone feels welcome to participate. Schedule a time to share the mission statement concept, keeping in mind that even young children can understand and contribute. Brainstorm together about ideas for the statement. Encourage even the most off-the-wall contributions. Record all such suggestions in writing. Revisit the list regularly and pare it down to the most important ideas. Once everyone agrees on a final draft that truly summarizes the family's values and vision, make copies accessible to all. Avoid rushing your family, favoring any one person's agenda, or forgetting about the final product once you're done. The mission statement carries weight only if you actively pursue your stated goals.

Note: For a concise guide to developing your own personal mission statement or life intentions, click here.


NORAD had drills of jets as weapons
2004-04-18, USA Today
http://www.usatoday.com/news/washington/2004-04-18-norad_x.htm

In the two years before the Sept. 11 attacks, the North American Aerospace Defense Command conducted exercises simulating what the White House says was unimaginable at the time: hijacked airliners used as weapons to crash into targets and cause mass casualties. One of the imagined targets was the World Trade Center. In another exercise ... the target was the Pentagon — but that drill was not run after Defense officials said it was unrealistic, NORAD and Defense officials say. NORAD, in a written statement, confirmed that such hijacking exercises occurred. "Numerous types of civilian and military aircraft were used as mock hijacked aircraft," the statement said. "These exercises tested track detection and identification; scramble and interception; hijack procedures; internal and external agency coordination and operational security and communications security procedures." On April 8, the commission investigating the Sept. 11 attacks heard testimony from national security adviser Condoleezza Rice that the White House didn't anticipate hijacked planes being used as weapons. President Bush said ... "Nobody in our government ... could envision flying airplanes into buildings on such a massive scale." One operation, planned in July 2001 ... involved planes from airports in Utah and Washington state that were "hijacked." NORAD officials have acknowledged that "scriptwriters" for the drills included the idea of hijacked aircraft being used as weapons. "Threats of killing hostages or crashing were left to the scriptwriters to invoke creativity and broaden the required response," Maj. Gen. Craig McKinley, a NORAD official, told the 9/11 commission.

Note: This highly revealing news was reported on the front page of USA Today, yet no other major media even picked up the story. Why? For lots more, click here and here.


The Rothschild story: A golden era ends for a secretive dynasty
2004-04-16, The Independent (One of the UK's leading newspapers)
http://web.archive.org/web/20070115044040/http://news.independent.co.uk/uk/th...

The news that the bankers Rothschild are to withdraw from the gold market, in which they have been a major player for two centuries, has been hailed as the end of an era. In one sense, of course, it is. But in another way it marks out the continuation of an even older tradition - the ability of the family which has founded one of the world's largest private banking dynasties to sustain their secretive fortune, which industry insiders count not in billions but in trillions, and keep it within the family. Secrecy has been a hallmark of the Rothschilds from the outset. The Rothschilds created the world of banking as we know it today. [They] invented, or at any rate popularised, the government bond, which allowed investors, big and small, to buy bits of the debts of sovereign states by purchasing fixed-interest bearer bonds. It brought investment in railways, the industrial revolution and ventures like the Suez Canal. The Rothschilds got a cut of everything. They made billions in the 1980s from Margaret Thatcher's privatisations of state-owned industries on which they advised. In France after their bank was nationalised by the Socialist president Francois Mitterrand they slowly built a new business which, under Baron David de Rothschild, has risen to the top ranks of the merger and acquisition league tables. They have pulled out of retail fund management - into which they went with much fanfare only three years back - and now they are pulling out of oil and gold in favour of the higher-margin areas of private banking and wealth management

Note: For some reason this article was removed from the website of the Independent, which is why the above link takes you to a cached version of this revealing article. For more on financial corruption, see the deeply revealing reports from reliable major media sources available here.


Rothschild to leave gold market
2004-04-15, BBC News
http://news.bbc.co.uk/2/hi/business/3628971.stm

NM Rothschild, one of the City's oldest merchant banks, has decided that profit takes precedence over history and is to withdraw from London's gold market. The move is part of Rothschild's plans to halt all commodities trading out of London as it becomes less profitable. Last year, the business generated just 2.2% of the bank's income, down from more than 8% five years earlier. Rothschild's departure will leave a big gap, not least because it hosts the twice-daily gold price fixing. Started in 1919, it is a prized and bizarre tradition. Every day at 1030 and 1500 local time, five representatives of investment banks meet in a small room at Rothschild's London headquarters on St Swithin's Lane. They are charged by the London Gold Market to agree a price for the bullion on offer. Each sits behind a desk and gets a phone and small Union Jack. In the centre is the chairperson, who for the past 85 years has come from Rothschild. A price is given and relayed via phone lines to customers. Then the haggling begins. When the price is right and buyers are matched with sellers, the flags are lowered and the price is fixed. While the whole process harks to a bygone age, the economics of the modern gold market are far less quaint. Many producers are no longer hedging their exposure to both currency and commodity price movements and that has taken a large chunk of business off the table. According to bank chairman David de Rothschild, "our income from commodities trading in London has fallen as a percentage of our total income in each of the past five years".

Note: For more on commodity price rigging, see the deeply revealing reports from reliable major media sources available here.


State take from corporate income falls
2004-04-15, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2004/04/15/...

Individual Californians are shouldering an increasing percentage of the state's general fund, while the share of revenue from corporate income taxes has declined, according to a new analysis by a think tank in Sacramento. "Over time, the burden of paying for public services has, in a fairly dramatic way, shifted from businesses to individuals,'' said Jean Ross, director of the nonprofit California Budget Project in Sacramento. Ross went back more than 40 years to track how much the state derived from its three main revenue sources: personal income tax, sales tax and corporate income tax. Over time, income taxes paid by individuals have risen to fill half of the state's coffers, while corporate income taxes have fallen to about 10 percent of the take. Dan Bucks, executive director of the Multistate Tax Commission, said the decline in corporate taxes as a share of state coffers is occurring in all 47 states that levy some form of business or corporate tax. "Our data indicate that ... corporate income taxes were 9.7 percent of state revenues in 1980 and 4.9 percent in 2002,'' he said. Personal income taxes -- levied in more than 40 states -- have also risen nationwide "in a virtually straight line,'' he said. Corporations have gotten better at sheltering income from both federal and state taxes. For instance, the General Accounting Office, watchdog agency of Congress, recently reported that more than 60 percent of U.S. corporations paid no federal taxes from 1996 through 2000.


Spy network putrid, army man tells PM
2004-04-14, Sydney Morning Herald (Australia's leading newspaper)
http://www.smh.com.au/articles/2004/04/13/1081838723574.html

A high-ranking military analyst has accused the Federal Government of systematically putting foreign policy objectives ahead of intelligence, seriously undermining the work of its own spies. A saga that has wracked the military for six years has culminated in General Peter Cosgrove's senior intelligence analyst during the East Timor conflict, Lieutenant-Colonel Lance Collins, writing to the Prime Minster demanding a Royal Commission into the spy services. The letter says there has been a litany of intelligence failures. "I strongly urge you, Prime Minister, to appoint an impartial and wide-ranging Royal Commission into intelligence," the letter says. "To do otherwise would merely cultivate an artificial scab over the putrefaction beneath". A navy lawyer, Captain Martin Toohey, conducted a review of Colonel Collins's grievances and found his intelligence on Timor was blocked at high levels in the DIO. Captain Toohey said the DIO reported what "the government wants to hear" on East Timor. He found it vindictively and unfairly placed Colonel Collins's name on an Australian Federal Police search warrant looking for leaked intelligence documents, effectively ending his career as an intelligence officer. The Herald can reveal the DIO shut down an intelligence-sharing network at the height of the East Timor operation and ordered, in early 2000, that no more intelligence be gathered from West Timor, where atrocities against East Timorese refugees occurred.


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.

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