Media ArticlesExcerpts of Key Media Articles in Major Media
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.
Our government must act to close the loopholes that allow companies and wealthy individuals to get out of paying their taxes - in particular, loopholes allowing them to move profits offshore to avoid taxation. The U.S. PIRG (Public Interest Research Group) ... released a study outlining how in California alone, an estimated $7.1 billion in potential tax revenue for 2011 was lost because companies and individuals shifted profits to subsidiary shell companies in tax havens. Often described as "sunny places for shady people," tax havens aren't usually associated with mundane issues like potholes - or with cuts to programs for seniors; freezes in funding for public education ... or cancellation of emergency services. Yet the PIRG study, which concludes that the United States is losing about $150 billion in tax revenue annually, shows once again how tax havens and shortfalls in government budgets are directly related. Despite the obvious damage to society, shifting profits offshore is, in most cases, perfectly legal. In fact, tax haven use by big companies is so common that a 2008 Government Accountability Office Report found 83 of the Fortune 100 companies in the United States had subsidiaries in offshore tax havens. Just because something is legal does not mean that it is right.
Note: For a powerfully revealing documentary showing how huge corporations park profits offshore to avoid taxes, click here. For deeply revealing reports from reliable major media sources on corporate corruption, click here.
Has the Aryan Brotherhood launched a war against Texas? That’s the question law enforcement authorities are wrestling with in Kaufman County, some 20 miles southeast of Dallas, after the brazen weekend slaying of a district attorney and his wife. The killings come just two months after another prosecutor was shot execution style by unknown assailants as he walked from his car to the county courthouse. The Texas branch of the white supremacist group has been eyed in connection [with these crimes] because more than 30 members and at least four of its most senior leaders were busted in a federal takedown late last year. On November 30, an investigation run by local law enforcement, the FBI, and the ATF indicted key members for carrying out murders, attempted murders, conspiracies, arsons, assaults, robberies, and drug trafficking as part of an enterprise that goes back to at least 1993. Mike McLelland, the prosecutor killed alongside his wife, Cynthia, this weekend, had been under around-the-clock protection until shortly before the slaying. Some experts familiar with the Aryan Brotherhood of Texas caution that some aspects of the killings don’t bear the trademarks of the group.
Researchers say they have created a drug that has killed every kind of cancer tumor it has come in contact with, according to Science Magazine. The antibody treatment works by blocking a protein called CD47 which tricks the body into not destroying cancerous cells. After the protein is blocked, the body can then recognize the cancer cells as invaders and attack. While the research is seen as a step closer to discovering a treatment that can cure all cancers, the drug has only been tested on mice and will need to prove itself on humans before it can be available to patients. This may take a few years. The research team has been given the green light and recently received a four-year, $20 million grant to conduct human clinical trials. Research for this new drug started a decade ago when biologist Irving Weissman at Stanford University was studying leukemia cells. He found that that leukemia cells produce higher levels of the CD47 protein than healthy cells. CD47 acts as a "don't-eat-me" signal, instructing the body to not eat harmful cells. Cancers take advantage of this signal to trick the immune system into ignoring them. Weissman's research showed that blocking CD47 can cure more than just blood cancers. The drug can also shrink or cure human breast, ovary, colon, bladder, brain, liver and prostate tumors that have been transplanted into mice. The treatment forced the mice's immune system to kill the cancer cells. This means this single drug could cure a variety of cancers and prevent cancers from spreading in the body.
Note: With many millions around the world dying of cancer every year, why aren't the most promising treatments being fast-tracked? Why is this article titled a "rumor"? Why isn't this making major headlines? Why isn't the very promising treatment of DCA, which is both cheap and incredibly promising, being given many millions to move rapidly forward? To read major media articles describing other potential cures not being adequately funded, click here. To understand why some treatments are suppressed, click here.
Silver [tooth] fillings, commonly called dental amalgam, contribute mercury pollution to the environment. Recent developments suggest momentum is building against silver fillings based on environmental concerns: Norway, Denmark, Sweden, Japan and Finland have either banned dental amalgam or restricted its use within the last five years. Twelve states have mandatory dental amalgam reduction programs. About half the mercury entering municipal wastewater treatment plants, or about 3.7 tons annually, comes from dental amalgam waste. While treatment plants capture about 90 percent of amalgam, some mercury settles into sewage sludge that is deposited in landfills, incinerated, applied as fertilizer or flushed into waterways. Once in water, it can transform into methylmercury, a neurotoxin that builds up in fish, shellfish and animals that eat fish, including humans. Several studies have linked methylmercury to health and developmental problems, especially in pregnant women, fetuses, infants and children. High exposure to methylmercury has been linked to permanent damage in children's brains and nervous systems and to increased risk of kidney problems in adults. Research shows that the human body absorbs mercury vapor released from dental amalgam. Numerous studies raise concerns about mercury exposure from amalgam. In toxic doses, elemental mercury breathed in as vapor can cause symptoms including tremors, mood swings, neuromuscular changes and cognitive deficits.
Note: For a great report by Dr. Mercola and Dr. Oz on the risks of mercury-based dental amalgam, click here.
Forget about gangsters and bank robbers, the most popular document in old FBI case files has to do with UFOs. At "the vault," the FBI's digital reading-room, anyone can go online and view the bureau's most notorious cases. "Since we opened the vault, it's been this memo about flying disks or flying saucers, and it relates to an allegation that we heard from a third-hand, saying that the Air Force had found a couple of saucers out in the New Mexico desert," John Fox, FBI historian, said. The memo's all of two paragraphs. Agent Guy Hottel, then head of the FBI's Washington Field Office, writes that an Air Force investigator "...stated that three so-called flying saucers had been recovered in New Mexico. They were described as being circular in shape with raised centers, approximately 50-feet in diameter. ... Each one was occupied by three bodies of human shape but only 3 feet tall, dressed in metallic cloth of a very fine texture. Each body was bandaged in a manner similar to the blackout suits used by speed flyers and test pilots." It's not just the Guy Hottel memo that's a favorite. There are hundreds of other pages of memos and files in the FBI vault - in the "unexplained phenomenon" section, all about alien and UFO sightings - that are more popular online than the FBI's files on Bonnie and Clyde, serial killer Ted Bundy and other famous cases that have become part of FBI lore.
Note: For a three-minute CNN video of this amazing news, click here. You can view the declassified memorandum described above on the FBI website at this link. Or download this revealing document and view it on our website at this link. For lots more reliable information suggesting a major cover-up of the reality of ET visitation, click here.
The use of drones by domestic US law enforcement agencies is growing rapidly, both in terms of numbers and types of usage. As a result, civil liberties and privacy groups led by the ACLU ... have been devoting increasing efforts to publicizing their unique dangers and agitating for statutory limits. The belief that weaponized drones won't be used on US soil is patently irrational. Police departments are already speaking openly about how their drones "could be equipped to carry nonlethal weapons such as Tasers or a bean-bag gun." The drone industry has already developed and is now aggressively marketing precisely such weaponized drones for domestic law enforcement use. Domestic weaponized drones will be much smaller and cheaper, as well as more agile - but just as lethal [as the large missile-firing drones used by the US military overseas]. The nation's leading manufacturer of small "unmanned aircraft systems" (UAS) ... is AeroVironment, Inc. (AV). AV is now focused on drone products - such as the "Qube" - that are so small that they can be "transported in the trunk of a police vehicle or carried in a backpack." AV's website ... touts a February, 2013 Defense News article describing how much the US Army loves [its] "Switchblade" [drone]. Time Magazine heralded this tiny drone weapon as "one of the best inventions of 2012", gushing: "the Switchblade drone can be carried into battle in a backpack. It's a kamikaze: the person controlling it uses a real-time video feed from the drone to crash it into a precise target. Its tiny warhead detonates on impact."
Note: This important article also discusses drones used by government agencies such as police for purposes of continuous surveillance. But it misses entirely another major dimension: privately owned and controlled drones, which are becoming dirt cheap and within the reach of virtually anyone. Will the new "DroneWorld" in the making combine the worst features of the Police State with the Wild West?
Bill Nelson has been a boat captain most of his life. [He] is speaking out for the first time about the two-and-a-half years he spent at the Dozier School for Boys. Just a skinny 11-year old, he was sent away for a crime he was later exonerated of. "I was raped over there as a kid, and there were several boys raped. Anything we spoke out about, we went to the White House," he said. It's a story many Dozier boys never lived to tell. "A lot of boys didn't make it. They weren't strong enough to make it," said Nelson. "Sometimes at night you could hear the screams," said Nelson. [The White House is] a small building where the temperature drops inside and paint peels off the walls and where Nelson remembers being tortured. "Sometimes you stayed two or three days in chains and they beat you," he said. "They were beaten to death." Soon the Dozier graveyard, known as Boot Hill, may become a crime scene. Scientists are preparing for a massive exhumation. They've discovered nearly 50 unmarked graves in the woods using ground-penetrating radar. The state shut down the institution for wayward boys in 2011 after allegations of abuse and suspicious deaths. "I didn't want to say anything because it's personal. But with all the boys that died up there, somebody needs to speak up for them," [Nelson] said.
Note: To see how this sadly may be more common than most would ever imagine, watch the suppressed Discovery Channel documentary "Conspiracy of Silence" at this link.
A mysterious malady that has been killing honeybees en masse for several years appears to have expanded drastically in the last year, commercial beekeepers say, wiping out 40 percent or even 50 percent of the hives needed to pollinate many of the nation’s fruits and vegetables. Many beekeepers suspect the biggest culprit is the growing soup of pesticides, fungicides and herbicides that are used to control pests. Beekeepers and some researchers say there is growing evidence that a powerful new class of pesticides known as neonicotinoids, incorporated into the plants themselves, could be an important factor. The explosive growth of neonicotinoids since 2005 has roughly tracked rising bee deaths. Neonics, as farmers call them, are ... systemic pesticides, often embedded in seeds so that the plant itself carries the chemical that kills insects that feed on it. Neonicotinoids persist for weeks and even months. A coalition of beekeepers and environmental and consumer groups sued the E.P.A. last week, saying it exceeded its authority by conditionally approving some neonicotinoids. The European Union has proposed to ban their use on crops frequented by bees. Some researchers have concluded that neonicotinoids caused extensive die-offs in Germany and France. Neonicotinoids are hardly the beekeepers’ only concern. Herbicide use has grown as farmers have adopted crop varieties, from corn to sunflowers, that are genetically modified to survive spraying with weedkillers.
Note: For deeply revealing reports from reliable major media sources on the harmful effects of GMOs, click here.
The world's biggest banks won a major victory on [March 29] when a U.S. judge dismissed a "substantial portion" of the claims in private lawsuits accusing them of rigging global benchmark interest rates. The 16 banks had faced claims totaling billions of dollars in the case. The banks include: Bank of America, Citigroup, Credit Suisse, Deutsche Bank, HSBC Holdings, JPMorgan Chase, [and others]. They had been accused by a diverse body of private plaintiffs, ranging from bondholders to the city of Baltimore, of conspiring to manipulate the London Interbank Offered Rate (Libor), a key benchmark at the heart of more than $550 trillion in financial products. In a significant setback for the plaintiffs, U.S. District Judge Naomi Reice Buchwald in Manhattan granted the banks' motion to dismiss federal antitrust claims and partially dismissed the plaintiffs' claims of commodities manipulation. She also dismissed racketeering and state-law claims. Buchwald did allow a portion of the lawsuit to continue that claims the banks' alleged manipulation of Libor harmed traders who bet on interest rates. Small movements in those rates can mean sizable gains or losses for those gambling on which way the rates move. Buchwald's decision may make it more likely that banks will talk settlement with a significant win in their pocket. The decision also could cast doubt on some of the highest analyst projections about potential Libor damages, and quell some concerns that the banks have not reserved enough for litigation expenses.
Note: For deeply revealing reports from reliable major media sources on criminal operations of the financial industry, click here.
According to a new report, most of the 30 companies listed on the Dow Jones industrial average are paying a far lower proportion of their profits in federal taxes - at a time when the Dow is reaching new highs - than they have in past decades. The main reason: not so much those yawning tax loopholes, but the multinationals' ability to stash more of their money overseas, where it's taxed at a lower rate and the feds can't touch it. Hewlett-Packard, according to the analysis, experienced the steepest percentage reduction in federal taxes - 47 percent since 1969. Intel's share of income paid in taxes has fallen by 29.6 percent since 1973, and Cisco Systems by 24.7 percent since 1989. U.S. multinationals ... often pay far less than the standard 35 percent corporate tax rate - a rate many of these companies are pushing to have significantly lowered. In its year-end report, Intel recorded $13 billion in profit - a record - and said its tax rate was approximately 29 percent. In 2010 HP paid $1.75 billion in income taxes on $9.4 billion of pretax income, a tax rate of 18.6 percent. As a share of the nation's GDP, U.S. corporate income tax has fallen by more than half, from 5.5 percent in 1946 to 2.6 percent in 2011.
Note: The statement about corporate income tax falling from 5.5 percent of GDP in 1946 to 2.6 percent in 2011 is quite misleading, making it appear that corporate taxes are a small percentage of total income. It is much more accurate to compare the total annual amount of corporate taxes to individuals' taxes. As this historical tax chart clearly shows, in 1946 corporate income tax receipts were 74% of the amount received from individual income taxes. By 2011, corporate taxes dropped to less than 17% of the amount paid in individual income taxes. That is a huge percentage drop in corporate taxes.
Out of all the case files made public by the FBI online, the most popular is a memo from 1950 titled "FLYING SAUCERS," the agency said this week. The mysterious report from Guy Hottel, special agent in charge in Washington, begins with this: "An investigator for the Air Force stated that three so-called flying saucers had been recovered in New Mexico. They were described as being circular in shape with raised centers, approximately 50 feet in diameter. Each one was occupied by three bodies of human shape but only 3 feet tall." The name of the source is blacked out. Over a million people have looked at the sensational memo online. The account goes on to say that the bodies were "dressed in metallic cloth of a very fine texture. Each body was bandaged in a manner similar to the blackout suits used by speed fliers and test pilots." Although the file was first released in the 1970s, it was posted online in 2011 as part of the Vault. The London tabloid The Sun said the memo appeared to back the claim that extraterrestrials landed in Roswell, New Mexico. But in a new commentary posted this week, the FBI said that since this memo was dated three years after the supposed Roswell landing, "there is no reason to believe the two are connected." The memo is part of a cache of hundreds of pages of accounts under the heading "Unexplained Phenomenon," describing claims of UFO sightings, spacecraft debris and alien landings.
Note: For a copy of this declassified document, click here. For more on UFOs, see our deeply revealing UFO Information Center available here.
Widely used pesticides have been found in new research to block a part of the brain that bees use for learning, rendering some of them unable to perform the essential task of associating scents with food. Bees exposed to two kinds of pesticide were slower to learn or completely forgot links between floral scents and nectar. These effects could make it harder for bees to forage among flowers for food, thereby threatening their survival and reducing the pollination of crops and wild plants. The findings add to existing research that neonicotinoid pesticides are contributing to the decline in bee populations. The new findings on the effect of pesticides on bee brains showed that within 20 minutes of exposure to neonicotinoids the neurons in the major learning centre of the brain stopped firing. Christopher Connolly at the University of Dundee, who led the peer-reviewed work published in the online journal Nature Communications, said it was the first to show the pesticides had a direct impact on pollinator brain physiology. A parallel peer-reviewed study on the behaviour of bees subjected to the same insecticides found the bees were slower to learn or completely forgot important associations between floral scent and food rewards. "Disruption in this important function has profound implications for honeybee colony survival, because bees that cannot learn will not be able to find food," said Dr Geraldine Wright, at Newcastle University, who led the work.
Note: For deeply revealing reports from reliable major media sources on GMOs, click here.
"You just get a funny feeling every time you come back here," said Marinna resident Elmore Bryant. You can feel, taste and listen to the silence on Boot HIll. It's heavy, bitter, and deafening. "Who's going to listen to you when you're poor, committed a crime and you're in an institution," said Bryant. Wards of the defunct Dozier School for Boys, children, are buried in the Marianna, Florida graveyard. Ground-penetrating radar revealed nearly 50 unmarked graves that the state never detected. "Like a sorority or a fraternity, everything was closed-mouth," said Bryant, talking about his town. Bryant, 79, grew-up in Marianna with the silence in the woods. He heard the hushed stories of boys who were beaten, tortured, or worse: Disappeared. He says his town was complicit in keeping these secrets. "Nobody knew anything or was going to tell you anything," he said. Bryant tells a story he heard about Dozier boys running away at night. He says a group called the "Dog Boys" would wait for them in the woods. "The dogs would about tear them to pieces and they would holler and yell," he says. "How many? What happened to them? Were there crimes committed?" asked U.S. Senator Bill Nelson standing atop Boot Hill. Now, after nearly a century of quiet, Nelson, University of South Florida researchers and a Tampa Bay family searching to bring their loved one home, may have made enough noise to answer these questions. They are pushing for a massive exhumation of an unknown number of bodies. "We were uncovering what was clearly grave shafts," said USF's Dr. Erin Kimmerle.
Note: To see how this sadly may be more common than most would ever imagine, watch the suppressed Discovery Channel documentary "Conspiracy of Silence" at this link.
If high school students took charge of their education with limited supervision, would they learn? A Massachusetts school is finding out. Sam Levin ... started the program in 2010. Frustrated with his public-high-school schedule and realizing that his friends weren’t inspired to learn, Levin complained to his mother about how unhappy he and his classmates were, to which she responded: “Why don’t you just make your own school?” And so he did. Levin quickly gained the support of his high school guidance counselor, Mike Powell, who remains the program adviser. After getting the O.K. from the school principal and superintendent, the duo were given the green light ... to embark on their experiment in 2010. The curriculum is designed by the students, [who] enroll for an entire semester, and with only a few exceptions ... do not take other classes. Each class has a mix of 10 students, some straight-A students and others who are on the verge of failing their classes. Three to four faculty advisers are available to guide the students and to provide advice. "Giving young people the chance to directly engage in their own learning is rooted in a tremendous amount of research [showing] that is actually how we learn best," says Scott Nine, the executive director of the Institute for Democratic Education in America (IDEA). "When we think about the world our young people live in, the core competencies of autonomy, belongingness and confidence are the building blocks of what we need."
Note: Learn more about this inspiring project in this Huffington Post article.
Bipartisan agreement in Washington usually means citizens should hold on to their wallets or get ready for another threat to peace. Beneath all the partisan bickering, bipartisan majorities are solid for a trade policy run by and for multinationals, a health-care system serving insurance and drug companies, an energy policy for Big Oil and King Coal, and finance favoring banks that are too big to fail. Economist James Galbraith calls this the “predator state,” one in which large corporate interests rig the rules to protect their subsidies, tax dodges and monopolies. This isn’t the free market; it’s a rigged market. Wall Street is a classic example. The attorney general announces that some banks are too big to prosecute. Despite what the FBI called an “epidemic of fraud,” not one head of a big bank has gone to jail or paid a major personal fine. Bloomberg News estimated that the subsidy they are provided by being too big to fail adds up to an estimated $83 billion a year. Corporate welfare is, of course, offensive to progressives. But true conservatives are — or should be — offended by corporate welfare as well. Conservative economists Raghuram Rajan and Luigi Zingales argue that it is time to “save capitalism from the capitalists,” urging conservatives to support strong measures to break up monopolies, cartels and the predatory use of political power to distort competition. Here is where left and right meet, not in a bipartisan big-money fix, but in an odd bedfellows campaign to clean out Washington. For that to happen, small businesses and community banks will have to develop an independent voice in our politics.
Note: For deeply revealing reports from reliable major media sources on the collusion between the US government and corrupt financial corporations, click here.
Blistering charges of misplaced power and a morally bankrupt culture in the nation’s “military-industrial complex” are rarely leveled by one of the defense establishment’s own. But that is exactly what ... Gregory D. Foster, a former Army officer and West Point graduate who now teaches national security studies at the National Defense University in Washington [did] when he went after the top brass, political leaders, and defense company executives [at a recent defense budget conference]. He accused them of allowing the nearly sacrosanct principle of civilian control of the military—an early building block of American democracy—to be turned on its head. How? By virtually never questioning the key assumptions of military planning and allowing a largely unchecked, destructive and highly militarized foreign policy to pose as a “properly subordinated military industrial complex.” [Foster said] “This is what I call civilian subjugation to the military. We face it in this administration, we faced it in the Clinton administration...we faced it in the Bush administration.” It all makes for a national security establishment, in Foster’s view, that perpetuates an approach to the world that is overly confrontational, lacks critical thinking about long term objectives, and even undercuts the strategic aims of democracy. For example, he said the accepted orthodoxy of never-ending global threats and the necessity to confront them militarily makes it nearly impossible to fashion a national security strategy that puts real security, crisis prevention, and the preservation of civil society ahead of institutional bias and private profit.
Note: For a penetrating analysis by a great general of the real purposes served by continuous war, click here.
A 19-year-old Dutch aerospace engineering student has come up with what he believes is a way to remove millions of pounds of plastic trash from the world’s oceans. Dubbed the Ocean Cleanup Array, Boyan Slat’s concept involves anchoring 24 sifters to the ocean floor and letting the sea’s own currents direct the plastic bits into miles of booms, or connected chains of timbers used to catch floating objects. “It will be very hard to convince everyone in the world to handle their plastics responsibly, but what we humans are very good in, is inventing technical solutions to our problems,” Slat said on his website. Powered by the sun and ocean currents, the Ocean Cleanup Array network aims to have as little impact on sea life as possible while sifting out some 7.25 million tons of plastic over the course of just five years. The bulk of the ray-shaped sifters and booms would be set up at the edges of the five swirling ocean gyres to trap the most plastic particles possible. Able to function in high seas and rough weather, the booms would trap floating plastic bits, then suck them into a trash sifter. Once the plastic is retrieved, Slat envisions, it will be brought ashore and sold. “We estimate that by selling the plastic retrieved from the 5 gyres, we would make in fact more money than the plan would cost to execute. In other words; it's profitable,” Slat’s website states. [Slat] founded The Ocean Cleanup Foundation earlier this year and is looking to partner with plankton biologists, engineers, and, of course, philanthropists to turn his dream into a reality.
Note: For a treasure trove of great news articles which will inspire you to make a difference, click here.
A number of major Bay Area companies were up for what were described as the "Oscars of the investment-relations industry." Sponsored by the trade publication IR Magazine, the event featured a notable award for "best crisis management," and San Ramon's Chevron Corp. was nominated for its handling of the Aug. 6 explosions and fire at the company's refinery in Richmond. Chevron's performance, one might recall, didn't play so well locally, having so far earned $1 million in fines and citations alleging "willful serious" health and safety violations, and the company's own admission last month "that we failed to live up to our own expectations in this incident." Perhaps it was just as well that Chevron, which was not at the event, didn't make it to the winner's circle ... at the palatial Cipriani Club 55 in New York. Few of the thousands of Richmond and other East Bay residents choking their way through black smoke to local hospitals last August would likely have appreciated it. The winner, announced with the opening of an envelope, might have seemed even less likely to the general public: JPMorgan Chase for its management of the $6.2 billion trading loss involving what was known as the "London whale" last year.
Note: For deeply revealing reports from reliable major media sources on corporate corruption, click here.
In the new crop of electric cars, the Rav4 may be the best you've never heard of. It comes from one of the world's largest automakers and sports a drivetrain built by Tesla Motors, rock star of the plug-in world. And yet, outside the circle of electric enthusiasts, few drivers know it exists. You can buy it only in California. Toyota doesn't advertise it on TV. So far, the company has committed to building just 2,600. Critics, including some people who love the Rav4 EV, say Toyota made it only to comply with California regulations that force automakers to sell zero-pollution cars. "Everyone agrees it's a wonderful car," said Felix Kramer, founder of CalCars, a plug-in vehicle advocacy group. "Too bad there's not enough." That suspicion comes from experience. Toyota made an electric version of the Rav4 once before, building 1,484 of the small SUVs between 1997 and 2003. Then the company killed the program, after California changed its zero-emission vehicle (ZEV) rules. The new Rav4 EV ... boasts ferocious acceleration, plenty of power and a low center of gravity thanks to the big battery pack hidden in the floor. It's not a luxury car, but the interior is comfortable and plush, tricked out with a touch-screen and heated seats. Those so inclined can take the Rav4 EV from a standstill to 60 mph in 7 seconds. The car gets a solid 125 miles on a fully charged battery pack, and an easy-to-read number on the dash constantly reminds you how many miles you have left.
Note: Once again a major car manufacturer produces a great electric vehicle only to suppress it. Remember "Who Killed the Electric Car", the movie on GM's EV1 which was killed despite major consumer interest? Then there was Toyota's 100 mpg Eco Spirit which was also killed. For lots more reliable information on this suggesting industry suppression of energy breakthroughs, click here.
Whatever the final outcome in the Cyprus crisis ... the island nation will have to maintain fairly draconian controls on the movement of capital in and out of the country. It will mark the end of an era for Cyprus, which has in effect spent the past decade advertising itself as a place where wealthy individuals who want to avoid taxes and scrutiny can safely park their money, no questions asked. But it may also mark at least the beginning of the end for something much bigger: the era when unrestricted movement of capital was taken as a desirable norm around the world. [With] the rise of free-market ideology, the assumption [is] that if financial markets want to move money across borders, there must be a good reason, and bureaucrats shouldn’t stand in their way. But the truth, hard as it may be for ideologues to accept, is that unrestricted movement of capital is looking more and more like a failed experiment. It’s hard to imagine now, but for more than three decades after World War II financial crises of the kind we’ve lately become so familiar with hardly ever happened. Since 1980, however, the roster has been impressive: Mexico, Brazil, Argentina and Chile in 1982. Sweden and Finland in 1991. Mexico again in 1995. Thailand, Malaysia, Indonesia and Korea in 1998. Argentina again in 2002. And, of course, the more recent run of disasters: Iceland, Ireland, Greece, Portugal, Spain, Italy, Cyprus. The best predictor of crisis is large inflows of foreign money: in all but a couple of the cases ... the foundation for crisis was laid by a rush of foreign investors into a country, followed by a sudden rush out.
Note: For deeply revealing reports from reliable major media sources on the collusion between the US government and corrupt financial corporations, 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.