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Revealing News For a Better World

News Stories
Excerpts of Key News Stories in Major Media


Below are highly revealing excerpts of key news stories from the major media that suggest major cover-ups and corruption. Links are provided to the full stories on their media websites. If any link fails to function, read this webpage. These news stories are listed by date posted. You can explore the same list by order of importance or by date of news story. By choosing to educate ourselves and to spread the word, we can and will build a brighter future.

Note: This comprehensive list of news stories is usually updated once a week. Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.


Activists subpoenaed to grand jury meeting in Seattle
2012-08-01, Seattle Times blog
Posted: 2012-08-21 10:07:56
http://blogs.seattletimes.com/today/2012/08/activists-subpoened-to-thursday-g...

Two Portland residents say they will appear before a federal grand jury in Seattle Thursday in an investigation of anarchist activity, according to a statement they released on [August 1]. Grand jury subpoenas have also been served to activists in Olympia and Seattle ... according to the Seattle Chapter of the National Lawyers Guild, which identifies itself as an association of progressive lawyers. The guild urged the U.S. Attorney’s Office to drop the subpoenas [because] they were being used “as a pretext for harassing political activists.” “It concerns us any time there are law-enforcement raids that target political literature, first amendment-protected materials,” [guild spokesman Neil] Fox said. Two weeks before a heavily armed, July 25 FBI raid that Dennison Williams and Leah-Lynn Plante said took place at their Portland home, the Seattle Police Department SWAT team seized evidence connected to the May Day investigation from a Judkins Park apartment of Occupy Seattle members. In both cases, those searched told media that law-enforcement charged into their homes [with a battering-ram] early in the morning and used a stun grenade, a non-lethal object that creates a disorienting loud bang and bright light. Williams told The Oregonian that the FBI took his laptop computer, cell phone, two thumb drives, multiple pieces of black clothing, and a T-shirt that read on the front “Multi Death Corporations.”

Note: Amazingly, the FBI raids on political activists in Seattle and Portland have gone completely unreported by the mass media. For analysis of the FBI's attacks on dissenters, click here, here and here. For a Democracy Now! video report, click here. For deeply revealing reports from reliable major media sources on civil liberties, click here.


What makes our NDAA lawsuit a struggle to save the US constitution
2012-08-10, The Guardian (One of the UK's leading newspapers)
Posted: 2012-08-21 10:06:17
http://www.guardian.co.uk/commentisfree/2012/aug/10/ndaa-lawsuit-struggle-us-...

I [Tangerine Bolen] am one of the lead plaintiffs in the civil lawsuit against the National Defense Authorization Act, which gives the president the power to hold any US citizen anywhere for as long as he wants, without charge or trial. In a May hearing, Judge Katherine Forrest issued an injunction against it; this week, in a final hearing in New York City, US government lawyers asserted even more extreme powers – the right to disregard entirely the judge and the law. On Monday 6 August, Obama's lawyers filed an appeal to the injunction – a profoundly important development that, as of this writing, has been scarcely reported. In the earlier March hearing, US government lawyers had confirmed that, yes, the NDAA does give the president the power to lock up people like journalist Chris Hedges and peaceful activists like myself and other plaintiffs. Government attorneys stated on record that even war correspondents could be locked up indefinitely under the NDAA. In this hearing ... Obama's attorneys refused to assure the court, when questioned, that the NDAA's section 1021 – the provision that permits reporters and others who have not committed crimes to be detained without trial – has not been applied by the US government anywhere in the world after Judge Forrest's injunction. In other words, they were telling a US federal judge that they could not, or would not, state whether Obama's government had complied with the legal injunction that she had laid down before them. I, like many in this fight, am now afraid of my government. We have good reason to be.

Note: For deeply revealing reports from reliable major media sources on civil liberties, click here.


The new totalitarianism of surveillance technology
2012-08-15, The Guardian (One of the UK's leading newspapers)
Posted: 2012-08-21 10:03:51
http://www.guardian.co.uk/commentisfree/2012/aug/15/new-totalitarianism-surve...

Last week, New York Mayor Michael Bloomberg joined NYPD Commissioner Ray Kelly to unveil a major new police surveillance infrastructure, developed by Microsoft. The Domain Awareness System links existing police databases with live video feeds, including cameras using vehicle license plate recognition software. No mention was made of whether the system plans to use – or already uses – facial recognition software. But, at present, there is no law to prevent US government and law enforcement agencies from building facial recognition databases. And we know from industry newsletters that the US military, law enforcement, and the department of homeland security are betting heavily on facial recognition technology. As PC World notes, Facebook itself is a market leader in the technology – but military and security agencies are close behind. According to Homeland Security Newswire, billions of dollars are being invested in the development and manufacture of various biometric technologies capable of detecting and identifying anyone, anywhere in the world – via iris-scanning systems, already in use; foot-scanning technology (really); voice pattern ID software, and so on. What is very obvious is that this technology will not be applied merely to people under arrest, or to people under surveillance in accordance with the fourth amendment. No, the "targets" here [include] everyone. In the name of "national security", the capacity is being built to identify, track and document any citizen constantly and continuously.

Note: For deeply revealing reports from reliable major media sources on civil liberties, click here.


Trapwire surveillance system exposed in document leak
2012-08-13, The Guardian (One of the UK's leading newspapers)
Posted: 2012-08-21 10:01:30
http://www.guardian.co.uk/world/2012/aug/13/trapwire-surveillance-system-expo...

[Trapwire is] a CCTV surveillance system that recognises people from their face or walk and analyses whether they might be about to commit a terrorist or criminal act. According to documents released online by WikiLeaks [it] is being used in a number of countries to try to monitor people and threats. Founded by former CIA agents, Trapwire uses data from a network of CCTV systems and numberplate readers to figure out the threat level in huge numbers of locations. The documents outlining Trapwire's existence and its deployment in the US were apparently obtained in a hack of computer systems belonging to the intelligence company Stratfor at the end of last year. Documents from the US department of homeland security show that it paid $832,000 to deploy Trapwire in Washington DC and Seattle. Stratfor describes Trapwire as "a unique, predictive software system designed to detect patterns of pre-attack surveillance and logistical planning". It serves "a wide range of law enforcement personnel and public and private security officials domestically and internationally", Stratfor says. Some have expressed doubts that Trapwire could really forecast [future] acts based on data from cameras. The claims might seem overblown, but then the idea that the US could have an international monitoring system seemed absurd until the discovery of the Echelon system, used by the US to eavesdrop on electronic communications internationally.

Note: For more on the growing use of this secret technology, click here. For deeply revealing reports from reliable major media sources on privacy, click here.


Democracy falling prey to big money
2012-08-10, San Francisco Chronicle (San Francisco's leading newspaper)
Posted: 2012-08-21 09:57:31
http://www.sfgate.com/opinion/reich/article/Democracy-falling-prey-to-big-mon...

Who's buying our democracy? Wall Street financiers, the Koch brothers, and casino magnates Sheldon Adelson and Steve Wynn, among others. And they're doing much of it in secret. It's a perfect storm - the combination of three waves that are about to drown government as we know it. The first is the greatest concentration of wealth in America in more than a century. The 400 richest Americans are richer than the bottom 150 million Americans put together. The trend started 30 years ago, and it's related to globalization and technological changes that have stymied wage growth for most people, "trickle-down economics," ... tax cuts and the steady decline in the bargaining power of organized labor. The second is the wave of unlimited political contributions, courtesy of ... one of the worst decisions in Supreme Court history, Citizens United vs. Federal Election Commission, the 2010 ruling that held that corporations are people under the First Amendment, [meaning] that virtually any billionaire can contribute as much to a political campaign as he wants. The third is complete secrecy about who's contributing how much to whom. Political fronts posing as charitable, nonprofit "social welfare" organizations ... don't have to disclose their donors. As a result, outfits like the Chamber of Commerce and Karl Rove's Crossroads GPS are taking in hundreds of millions from corporations that don't even tell their own shareholders what political payments they're making. Separately, any one of these three would be bad enough. Put the three together, and our democracy is being sold down the drain.

Note: The author of this article, Robert Reich, is a professor of public policy at UC Berkeley and former U.S. secretary of labor, and author of the newly released Beyond Outrage: What Has Gone Wrong With Our Economy and Our Democracy, and How to Fix It.


Why Goldman Sachs, Other Wall Street Titans Are Not Being Prosecuted
2012-08-14, The Daily Beast/Newsweek
Posted: 2012-08-21 09:55:47
http://www.thedailybeast.com/articles/2012/08/14/why-goldman-sachs-other-wall...

On [August 9] the Department of Justice announced it will not prosecute Goldman Sachs or any of its employees in a financial-fraud probe. Despite the Obama administration’s promises to clean up Wall Street in the wake of America’s worst financial crisis, there has not been a single criminal charge filed by the federal government against any top executive of the elite financial institutions. Why is that? In a word: cronyism. Take Goldman Sachs, for example. In 2008, Goldman Sachs employees were among Barack Obama’s top campaign contributors, giving a combined $1,013,091. [Attorney General] Eric Holder’s former law firm, Covington & Burling, also counts Goldman Sachs as one of its clients. Furthermore, in April 2011, when the Senate Permanent Subcommittee on Investigations issued a scathing report detailing Goldman’s suspicious Abacus deal, several Goldman executives and their families began flooding Obama campaign coffers with donations, some giving the maximum $35,800. The individuals the DOJ’s “Financial Fraud Enforcement Task Force” has placed in its prosecutorial crosshairs seem shockingly small compared with the Wall Street titans the Obama administration promised to bring to justice. To be sure, financial fraud of any kind is wrong and should be prosecuted. But locking up “pygmies” is hardly the kind of financial-fraud crackdown Americans expected in the wake of the largest financial crisis in U.S. history. Increasingly, there appear to be two sets of rules: one for the average citizen, and another for the connected cronies who rule the inside game.

Note: For deeply revealing reports from reliable major media sources on financial corporations' control over government, see our Banking Bailout archive here.


Billionaires Soros, Paulson Bet Big on Gold
2012-08-16, ABC News blog
Posted: 2012-08-21 09:54:17
http://abcnews.go.com/blogs/business/2012/08/billionaires-soros-paulson-bet-b...

Once again John Paulson is choosing to heavily invest in gold and fellow billionaire George Soros is making a similar bet. Paulson & Co. and Soros Fund Management bumped up exposure to SPDR Gold Trust to 21.8 million shares and 884,000 shares, respectively. The decision by Soros is an interesting one. In 2010, Soros called gold “the ultimate bubble” during an appearance on Reuters television. Paulson & Co. now has 44 percent of its $24 billion fund exposed to bullion. Peter Sorrentino, a senior portfolio manager at Huntington Funds, ... said consumers should not rush out and buy gold. “Historically these moves span roughly a decade and while the last phase is typically the most explosive, the risk is getting out before it rolls over. Sorrentino said ... “the fundamentals behind gold such as available supply coming to market and end demand have not changed in any material way. In fact, gold purchase by central banks in the pacific rim, India and Russia have reached new highs. So from an investor psychology and supply/demand perspective, this looks like every cycle before it during the last decade.” But, despite big bets by two of the nation’s billionaires, he continued, “…There is an old saying among Wall Street traders; ’It’s said with a whisper and not with a shout, when the widows and orphans get in, it’s time to get out.’”

Note: A Fox News report also shows unusually high purchases of gold from central banks, mostly those of developing nations. Yet the price of gold has remained relatively stable in the last 10 months (between $1,550 and $1,800/oz) after rising from around $250/oz in 2002 up to $1,900/oz in August of 2011. Could these purchases be indicators of rocky financial times in the near future? A gold dealer informed WTK founder Fred Burks that gold prices tend to stabilize in election years, which you can verify using the charts at this link.


Pope's butler, layman face trial for allegedly stealing documents from Benedict's apartment
2012-08-13, CBS News/Associated Press
Posted: 2012-08-21 09:52:28
http://www.cbsnews.com/8301-202_162-57492046/popes-butler-layman-face-trial-f...

A Vatican judge on [August 13] ordered the pope's butler and a fellow lay employee to stand trial for the alleged pilfering of documents from Pope Benedict XVI's private apartment, in an embarrassing scandal that exposed power struggles and purported corruption at the Holy See's highest levels. The indictment accused Paolo Gabriele, a butler arrested at the Vatican in May, of grand theft - a charge that could bring up to six years in jail, although the pope could pardon his once-trusted aide after any conviction. The Holy See has been on a defensive footing since documents alleging corruption and exposing power struggles began appearing in the Italian media in January. In May, the book Sua Santita (His Holiness) - by Italian journalist Gianluigi Nuzzi - was published containing dozens of documents from the pope's desk, including letters written to him. When the leaks broke [Gabriele] was quickly identified as the source. The indictment quoted Gabriele as telling investigators that he was "motivated by my deep faith and by the desire that in the church light is shed on everything."

Note: For deeply revealing reports from reliable major media sources on institutional secrecy, click here.


Witchcraft-based child abuse: Action plan launched
2012-08-14, BBC News
Posted: 2012-08-21 09:51:04
http://www.bbc.co.uk/news/education-19248144

The [UK] government has launched an action plan to tackle child abuse linked to witchcraft or religion in England. High-profile cases include the murders of Kristy Bamu and Victoria Climbie but experts fear much more abuse is hidden. The key aims are to raise awareness and set out "urgent practical steps to identify and protect children at risk". Children's Minister Tim Loughton said: "Abuse linked to faith or belief in spirits, witchcraft or possession is a horrific crime, condemned by people of all cultures, communities and faiths - but there has been a 'wall of silence' around its scale and extent. There can never be a blind eye turned to violence or emotional abuse or even the smallest risk that religious beliefs will lead to young people being harmed." The government says that cases of adults inflicting physical violence or emotional harm on children they regard as witches or possessed by evil spirits occur across the world, often in sub-sects of major religions, such as Christianity. Scotland Yard says it has conducted 83 investigations into cases of faith-based child abuse in the past decade. The government admits more research is needed before it can act effectively to protect children - the last study was in 2006 and looked at 38 cases involving 47 children from Africa, South Asia and Europe, all of whom had been abused in the name of possession or witchcraft.

Note: To learn more about cult child abuse which may be much more rampant than most would suspect, click here. For deeply revealing reports from reliable major media sources on sexual abuse of children, click here.


Company once known as Blackwater settles arms case
2012-08-08, Boston Globe
Posted: 2012-08-21 09:49:44
http://articles.boston.com/2012-08-08/nation/33081023_1_blackwater-arms-case-...

The international security contractor formerly known as Blackwater [and now called Academi LLC] has agreed to pay a $7.5 million fine to settle federal criminal charges related to arms smuggling and other crimes. The list of 17 violations includes possessing automatic weapons in the United States without registration, lying to federal firearms regulators about weapons provided to the king of Jordan, passing secret plans for armored personnel carriers to Sweden and Denmark without US government approval, and illegally shipping body armor overseas. Federal prosecutors said the company, which has held billions in US security contracts in Iraq and Afghanistan, repeatedly flouted US laws. ‘‘Compliance with these laws is critical to the proper conduct of our defense efforts and to international diplomatic relations,’’ said Thomas G. Walker, the US attorney for the Eastern District of North Carolina. ‘‘This prosecution is an important step to ensuring that our corporate citizens comply with these rules in every circumstance.’’ Blackwater was founded in 1997 by former Navy SEAL Erik Prince. The company rose to national attention after winning massive no-bid security contracts from the US government at the Iraq War’s start. In 2010, after several high-profile controversies, the company reached a $42 million settlement with the Department of State over repeated violations of the Arms Export Control Act and the International Trafficking in Arms Regulations.

Note: For deeply revealing reports from reliable major media sources on corporate corruption, click here.


9/11: Explosive Evidence - Experts Speak Out
2012-08-18, Colorado Public Television
Posted: 2012-08-21 09:47:49
http://www.cpt12.org/tv_schedule/program_details.cfm?series_id=66785954&CFID=...

In [the] new film ["9/11: Explosive Evidence - Experts Speak Out"], over 40 experts in the fields of structural engineering, high-rise architecture, controlled demolition, physics, chemistry and metallurgy lay out the case for a controlled demolition of the World Trade Center on 9/11. The experts cite evidence showing that high-temperature incendiaries and explosives were planted throughout the twin towers and the lesser-known Building 7 which collapsed later the same day. Eight experts in psychology ... discuss the difficulties many people have in confronting this possible reality and how necessary the truth is for healing – both at the individual and collective levels. Two years in the making, "9/11: Explosive Evidence - Experts Speak Out" is the latest film from Architects & Engineers for 911 Truth, represented by founder Richard Gage, AIA. “The official story about the attacks of September 11 falls apart when you look squarely at the facts and apply basic scientific principles to interpret them," says Gage. "After more than ten years, a high-level investigation of the evidence is long overdue. Too much is at stake here to sweep the concerns under the rug. Family members of 9/11 victims speak to the viewers of this film. They explain why they are still not happy with the answers they've been given by our government. And they are asking you to join them in looking at what our experts have to say."

Note: To watch a beautifully-made 15-minute documentary put together by Architects and Engineers for 9/11 Truth, click here.


Time for America to revisit its nuclear policy
2012-06-01, Dallas Morning News (leading newspaper of Dallas, TX)
Posted: 2012-08-21 09:42:55
http://www.dallasnews.com/opinion/sunday-commentary/20120601-ronnie-dugger-ti...

Could we be overlooking profound questions and truths about the again-rising likelihood of the decimation or the end of life on Earth in an H-bomb holocaust? The actual and prospective nuclear policy and practice of the United States, Israel and Britain has moved from the nuclear disarmament promised in the Nuclear Nonproliferation Treaty into attacking nations that ... insist on getting the same weapons we have. More nations keep getting the H-bomb and the systems to deliver it wherever they want to. There is still no international control of these weapons that can end life on Earth. Jonathan Schell reports in The Seventh Decade that 50 more nations know how to make H-bombs. It’s a secret no more. Why are possibly apocalyptic facts about them blocked from us by nine systems of military secrecy? For just one example, does Israel, as indicated in Ron Rosenbaum’s recent well-sourced book How the End Begins, have five German-made nuclear-armed submarines in the Mediterranean poised to fire H-bombs in retaliation even if Israel’s leadership has been “decapitated”? The U.S. should be leading the world toward “near zero” or the abolition of these weapons. We should be challenging our officials and military for risking our deaths, the lives of our fellow human beings and our national honor by keeping, maintaining and implicitly threatening to use our own weapons of mass murder.

Note: For deeply revealing reports from reliable major media sources on corruption in the nuclear power and weapons industries, click here.


The women of India's Barefoot College bring light to remote villages
2011-06-24, The Guardian (One of the UK's leading newspapers)
Posted: 2012-08-21 09:40:05
http://www.guardian.co.uk/global-development/2011/jun/24/india-barefoot-colle...

Santosh Devi is [a] 19-year-old, semi-literate woman from the backwaters of Rajasthan [who] has broken through India's rigid caste system to become the country's first Dalit solar engineer. While differences of caste have begun to blur in the cities, in rural India Dalits – also known as "untouchables" – are still impoverished and widely discriminated against. Santosh trained to be a solar engineer at the Barefoot College in Tilonia, 100km from Jaipur. The college was set up in 1972 by Sanjit "Bunker" Roy to teach rural people skills with which they could transform their villages, regardless of gender, caste, ethnicity, age or schooling. The college claims to have trained 15,000 women in skills including solar engineering, healthcare and water testing. Roy, 65, says his approach – low cost, decentralised and community driven – works by "capitalising on the resources already present in the villages". The college, spread over eight acres, runs entirely on solar energy, maintained by the Barefoot solar engineers. Since the solar course was launched in 2005, more than 300 Barefoot engineers have brought power to more than 13,000 homes across India. A further 6,000 households, in more than 120 villages in 24 countries from Afghanistan to Uganda, have been powered on the same model. Only villages that are inaccessible, remote and non-electrified are considered for solar power. A drop in the ocean, perhaps – 44% of rural households in India have no electricity – but these women are making an important contribution to the nation's power needs.

Note: For a very inspiring TED talk filled with great stories by the founder of this college, click here.


Biotechnology Food: From the Lab to a Debacle
2001-01-25, New York Times
Posted: 2012-08-21 09:38:03
http://www.nytimes.com/2001/01/25/business/25FOOD.html?pagewanted=all

In late 1986, four executives of the Monsanto Company, the leader in agricultural biotechnology, paid a visit to Vice President George Bush at the White House. In the weeks and months that followed, the White House complied, working behind the scenes, to help Monsanto — long a political power with deep connections in Washington — get the regulations that it wanted. It was an outcome that would be repeated, again and again, through three administrations. What Monsanto wished for from Washington, Monsanto — and, by extension, the biotechnology industry — got. Even longtime Washington hands said that the control this nascent industry exerted over its own regulatory destiny — through the Environmental Protection Agency, the Agriculture Department and ultimately the Food and Drug Administration — was astonishing. Dr. Louis J. Pribyl, one of 17 government scientists working on a policy for genetically engineered food, ... knew from studies that toxins could be unintentionally created when new genes were introduced into a plant's cells. The government was dismissing that risk and any other possible risk as no different from those of conventionally derived food. That meant biotechnology companies would not need government approval to sell the foods they were developing. "This is the industry's pet idea, namely that there are no unintended effects that will raise the F.D.A.'s level of concern," Dr. Pribyl wrote in a fiery memo to the F.D.A. scientist overseeing the policy's development. "But time and time again, there is no data to back up their contention."

Note: For a powerful essay showing the grave risks and dangers of GMOs, click here. Explore over 40 scientific studies that have demonstrated the health dangers of GM foods. For deeply revealing reports from reliable major media sources on genetically modified foods, click here.


Boy Scout files reveal repeat child abuse by sexual predators
2012-08-05, Los Angeles Times
Posted: 2012-08-14 09:15:55
http://www.latimes.com/news/local/la-me-boyscouts-20120805-m,0,5822319.story

For nearly a century, the Boy Scouts of America has relied on a confidential blacklist known as the "perversion files" as a crucial line of defense against sexual predators. That barrier, however, has been breached repeatedly. A Los Angeles Times review of more than 1,200 files dating from 1970 to 1991 found more than 125 cases across the country in which men allegedly continued to molest Scouts after the organization was first presented with detailed allegations of abusive behavior. Predators slipped back into the program by falsifying personal information or skirting the registration process. Others were able to jump from troop to troop around the country thanks to clerical errors, computer glitches or the Scouts' failure to check the blacklist. In some cases, officials failed to document reports of abuse in the first place, letting offenders stay in the organization until new allegations surfaced. In others, officials documented abuse but merely suspended the accused leader or allowed him to continue working with boys while on "probation." In at least 50 cases, the Boy Scouts expelled suspected abusers, only to discover later that they had reentered the program and were accused of molesting again.

Note: For deeply revealing reports from reliable major media sources on institutional sexual abuse scandals, click here.


Nuclear waste issues freeze permits for U.S. power plants
2012-08-09, CNN
Posted: 2012-08-14 09:14:41
http://money.cnn.com/2012/08/09/news/economy/nuclear-plants-waste/index.htm

The U.S. government said it will stop issuing permits for new nuclear power plants and license extensions for existing facilities until it resolves issues around storing radioactive waste. The government's main watchdog, the Nuclear Regulatory Commission, believes that current storage plans are safe and achievable. But a federal court said that the NRC didn't detail what the environmental consequences would be if the agency is wrong. There are 14 reactors awaiting license renewals at the NRC, and an additional 16 reactors awaiting permits for new construction. Nuclear waste disposal has been a daunting political question that is still unanswered after decades of study. Nuclear watchdog groups -- which don't agree with the NRC's assertion that the waste is currently safely stored -- are hoping the new review will provide an opportunity to push for stricter standards at nuclear power plants. There are currently 104 operating nuclear reactors at 64 plants across the country. Half are over 30 years old. '"The court is ordering them to do this analysis that should have been done a long time ago," said Edwin Lyman, a senior scientist at the Union of Concerned Scientists. In particular, UCS and others want less of the waste to be stored in pools of water, which they believe are vulnerable to sudden draining and possible meltdown.

Note: For deeply revealing reports from reliable major media sources on corruption in the nuclear power industry, click here.


CNBC Reports Financial System Changeover: “They’re Going to Put the Old System In a Coma”
2012-08-10, CNBC
Posted: 2012-08-14 09:13:06
http://video.cnbc.com/gallery/?video=3000108212

Kevin Ferry: There are Libor subpoenas raining down on the New York branches of these foreign banks today. So I think you really have to watch it. The [British Bankers' Association] is now saying they are going to go into ‘overhaul’ mode. So as if we don’t have enough things going on, you’re going to start opening up a Pandora’s Box here in the Libor sector of the market. I think what they’re going to do ... is basically put the old system in a coma, and work to devise something that’s a little bit better, and it’s going to be tricky. Doug Dachille: So what are they going to do with the euro/dollar futures and all the outstanding notion of principal of contracts linked to Libor? I mean is everybody going to convert their Libor interest rate swaps to cost of fund funds or Fed fund basis swaps or some other index? KF: Are you asking me? I’ve asked that question as high as I could ask it and I get blank stares. DD: It’s not clear that every bank has exactly the same Libor exposure, so it’s not clear that that cartel, in setting Libor and manipulating it, actually is as powerful as the cartel that manages oil prices. Yet I don’t hear any outrage of people routinely trading commodity derivatives and commodity futures, as much as I hear the outrage over euro/dollar futures and Libor-based interest rate swaps. Everybody assumes that’s what goes on when you trade commodity futures, but nobody ever really thought that was going on when you were trading euro/dollar futures.

Note: The text above is an excerpt from a CNBC news video. Click on the link above for the full report. For deeply revealing reports from reliable major media sources on corruption in the financial sector, click here.


Wal-Mart OK with selling genetically modified sweet corn
2012-08-03, Chicago Tribune
Posted: 2012-08-14 09:11:46
http://articles.chicagotribune.com/2012-08-03/news/chi-walmart-to-sell-geneti...

Rejecting entreaties from consumers and activists, Wal-Mart Stores Inc. says it has no objection to selling a new crop of genetically modified sweet corn created by biotech giant Monsanto. Environmental and health activists expressed surprise and disappointment at Wal-Mart’s decision. Earlier this year, Whole Foods, Trader Joe’s and General Mills said they would not carry or use the genetically modified sweet corn. “A lot of people who were their customers explicitly said we don’t want you to carry this product, and I think it’s unfortunate that they chose not listen to that feedback,” said Patty Lovera, assistant director of the consumer group Food and Water Watch. In March, the group presented Wal-Mart with a petition signed by 463,000 people asking it to boycott the product, she said. Monsanto’s genetically modified sweet corn is resistant to a common herbicide, which allows farmers to kill weeds without killing the corn. It also contains a toxin that fends off certain pests. Critics say they would like the U.S. Food and Drug Administration to require some pre-market safety testing and labeling of genetically modified foods, saying the lack of study makes it impossible to know whether they pose health risks. “There has been a doubling of food allergies in this country since 1996,” said Michael Hansen, a senior scientist at Consumers Union, the policy arm of Consumer Reports. “Is it connected to genetically engineered foods? Who knows when you have no labeling? That is the problem.”

Note: Strangely, this article was taken down from the Tribune website shortly after its original posting. To read the complete article, click here. For deeply revealing reports from reliable major media sources on the dangers of genetically modified foods, click here.


Washington's press is the cabin boy of the political class
2012-08-03, The Guardian (One of the UK's leading newspapers)
Posted: 2012-08-14 09:10:11
http://www.guardian.co.uk/commentisfree/2012/aug/03/washington-press-corp-cab...

The Washington press corps ... is too caught up in its own self-importance and petty competition to understand it has become the cabin boy of the political class. Washington reporters are co-conspirators in an ongoing fraud. The epidemic of blind quotes is a standard way of giving a platform to officials speaking in an official capacity, yet with zero accountability. The practice is also supremely manipulative, giving the most banal information the allure of forbidden fruit. At its worst, the game can allow the vice president of the United States to leak phony intelligence to the New York Times and later refer back to the leak as independent journalistic confirmation, leading to invasion and hundreds of thousands of deaths and a trillion dollars in squandered treasure. The Iraq disgrace aside, obscuring official sources might be understandable if this journalistic worst practice were in the service of earth-shaking news. It almost never is. The blind quotes, though, are not even the worst of it. The New York Times recently revealed that reporters are not merely working on background, they negotiate after interviews what comments may be used and send them to sources for prepublication approval. The sources routinely edit those quotes before turning them back over to news organisations. As media ethicist Edward Wasserman so aptly put it, "At this point you're no longer talking about an interview; you're talking about a press release … And what happens is Washington becomes no different from Beijing, in terms of reporting what authorities want reported".

Note: For deeply revealing reports from reliable sources on mass media corruption, click here.


The Obama administration has torpedoed the arms trade treaty
2012-08-03, The Guardian (One of the UK's leading newspapers)
Posted: 2012-08-14 09:08:38
http://www.guardian.co.uk/commentisfree/2012/aug/03/obama-administration-arms...

In late June, activists gathered in New York's Times Square to make the ... point that, unbelievably, "there are more rules governing your ability to trade a banana from one country to the next than governing your ability to trade an AK-47 or a military helicopter". So said Amnesty International USA's Suzanne Nossel ... just before the start of the UN conference on the Arms Trade Treaty (ATT), which ran from 2 July to 27 July. Thanks to a last-minute declaration by the United States that it "needed more time" to review the short, 11-page treaty text, the conference ended last week in failure. There isn't much that could be considered controversial in the treaty. Signatory governments agree not to export weapons to countries that are under an arms embargo, or to export weapons that would facilitate "the commission of genocide, crimes against humanity, war crimes" or other violations of international humanitarian law. Exports of arms are banned if they will facilitate "gender-based violence or violence against children" or be used for "transnational organised crime". Why does the US need more time than the more than 90 other countries that had sufficient time to read and approve the text? The answer lies in the power of the gun lobby [and] the arms industry. The US is the world's largest weapons producer, exporter and importer. Protesters outside the UN during the ATT conference erected a mock graveyard, with each headstone reading: "2,000 people killed by arms every day." That's more than one person killed every minute.

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