Friday, March 30, 2012

The Free Market Solution to Government Induced Poverty


Some UK gas stations shut after fuel panic-buying


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LONDON (AP) -- Government warnings that motorists should stock up at the pump ahead of a threatened strike by British fuel tanker drivers prompted scattered outbreaks of panic buying Thursday.
Gasoline sales have surged more than 80 percent, jerry cans are flying off the shelves, and - in at least some places in southwest England - lines have become so long that police ordered stations to close to ease congestion.
"I'm very, very busy," said Balaji Adusuballi, who helps run the White Mare Pool Shell station in the northern England city of Gateshead, where the line of cars stretched out into the road. "There's a queue since this morning. It's very unusual."
A drivers' association laid the blame for the sudden surge in demand on the government's reaction to a threatened strike by the Unite union, which could close thousands of gas stations. Although a strike date hasn't been set - and there has to be a weeklong warning period - ministers have been advising Britons that it would be sensible to make sure they had extra gasoline just in case.
Opposition politicians have accused the ruling Conservative Party of inflaming the situation after days of negative headlines over party donors and controversy over the government's deficit-reduction plans.
"They made a crude decision to play politics with petrol without regard for the consequence," Labour Party leader Ed Miliband said.
The government has said they're taking the appropriate precautions.
"If they go on strike the country will have a problem," Transport Minister Mike Penning told BBC television late Tuesday. "Let's be prepared for that in case it happens."
Britain's Automobile Association said that the official advice was to blame for the run on the pumps.
"If drivers followed normal fuel buying patterns there would be no fuel shortage whatsoever," AA president Edmund King said. "We now have self-inflicted shortages due to poor advice about topping up the tank and hoarding in jerry cans. This in turn has led to localized shortages, queues and some profiteering at the pumps."
Britain's Petrol Retailers Association said Thursday that gasoline sales were up 81 percent, with diesel sales up 43 percent. British retailer Halfords reported that sales of fuel cans had tripled.
"It is clear that there is an element of panic buying," Halfords commercial director Paul McClenaghan said. "Sales started rising dramatically after the government issued their warning."
Police in Dorset, in southwest England, have asked that gas stations close, at least temporarily, because the oversize lines were "causing danger to other road users."
Fuel strikes have the potential to cause serious political damage in Britain, where gasoline prices are already among the highest in Europe. A damaging series of fuel blockages caused a headache for Tony Blair's government back in 2000.
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Ron Paul's "Wild Ideas": Follow the Constitution, Stop Printing Money, D...

Legislating Greater Wall Street Theft

Stephen Lendman, Contributor

Activist Post

Political Washington is Wall Street's best friend. Whatever crooked bankers want they get. Their business model features grand theft. Wealth’s amassed through fraudulent double-dealing.

Lawmakers facilitate their racketeering. They're rewarded in kind. Only fleeced households, investors, communities and nations lose out.

Their dirty game continues unobstructed. New legislation enhances what's on the books. Another bill will become law when Obama signs it. Wall Street's again celebrating, and why not? Business is better than ever, courtesy of complicit lawmakers.

At issue is the Jumpstart Our Business Startups Act (the JOBS Act). On March 8, the House passed it overwhelmingly 390 - 23. On March 22, Senate followed 73 - 26. Doing what he does best, Obama will sign it into law. He'll again betray America's 99% in the process.

When everything comes up roses for Wall Street, ordinary people get scammed. It's the same every time like loaded dice let the house win.

Former bank regulator/financial fraud expert Bill Black explained what's at stake in his article headlined, "‘The only winning move is not to play’ -- the insanity of the regulatory race to the bottom.”

 He called the imminent JOBS Act passage reminiscent of the "worst anti-regulatory travesties in the financial sphere (that) had broad, bipartisan support." Don't they all, especially in recent decades.

He reviewed some of the worst past legislation and congressional actions, including:

(1) the 1982 Garn-St. Germain Act that gave S & Ls a license to steal.

(2) the 1987 Competitive Equality in Banking Act (CEBA).

Reflecting on the double-dealing chicanery behind it, Black said his "psyche still bears the scars of this combined onslaught. It was the political equivalent of being on the receiving end of a B 52 Arc Light (carpet bombing) mission in Vietnam."

(3) the 1993 "Reinventing Government" scam. It was premised on the view that anything government does, business does better, so let it. Deregulation went wild.

(4) the 1995 Public Securities Litigation Reform Act (PSLRA) made it harder for fraud victims to sue. As a result, the financial sector became "more criminogenic." CEOs were licensed to loot with impunity. The 1998 PSLRA amendment was even more hostile to fraud victims.

(5) the 1999 Gramm-Leach-Bliley Act. It repealed Glass-Steagall. The 1930s law separated commercial from investment banks and insurers, among other provisions curbing speculation.

(6) the 2000 Commodities Futures Modernization Act. It's so bad, it was tucked away in an appropriations bill near the end of Clinton's tenure. It was his final public betrayal, and what a whopper to endorse.

It legitimized "swap agreements" and other "hybrid instruments" at the core of today's problems. It prevented regulatory oversight of derivatives and leveraging. It made Wall Street a casino operating on only the house wins rules.

Among other provisions, it contained the "Enron Loophole." Enron Online became the first Internet-based commodities transaction system. It rescinded regulations in place since 1922.

Derivative scams went wild. Enron fleeced investors and energy purchasers with impunity until its house of cards collapsed.

 Alan Greenspan endorsed derivatives at the time. He lied calling them a way to share risks. They turned an economic downturn into the greatest Depression for most households. They're either impoverished, bordering on it, or heading for it before decade's end. A Clinton-Greenspan combo made it possible.

Black could have listed many more legislative and deregulatory public betrayal examples, including Obama's so-called financial reform only bankers could love. They should. They wrote it. It assures business as usual codified into law under a reform mantle.

Black moved on to the 2012 JOBS Act. He called it "the product of a feeding frenzy by lobbyists who are finally able to enact every fraud-friendly provision they ever dreamed of making law. The only kind of financial bill that can pass with overwhelming support is an anti-regulatory" one.

The criminal class in Washington is bipartisan. FIRE sector (finance, insurance and real estate) companies are their largest contributors. Whatever they want, they get. Through the ages, greasing palms worked like charms. In large enough amounts, they always work.

Black said financial crises embrace "three (bipartisan) 'de's' -- deregulation, desupervision, and de facto decriminalization." They create epidemics of fraud. Real reform's impossible. Greater crises are assured. Each time, looser restrictions follow. Economies, households, and lives are destroyed for profit.

Since the late 1970s, America "trashed a regulatory system that was the envy of the world." Now it's a travesty.

Black called the JOBS Act "insane on many levels. It creates an extraordinarily criminogenic environment in which securities fraud will become even more out of control."

It continues a regulatory "race to the bottom. The only winning move is not to play...." The bill's rationale is deregulatory madness must be won. Otherwise the City of London and/or other financial centers will surpass us.

Its passage ignored the Financial Crisis Inquiry Commission's (FCIC) findings. It was established to determine the current crisis' cause. It explained the three "de's" problem. It specifically condemned "regulatory arbitrage." It revealed destructive deregulatory madness.

The JOBS Act ignored expert anti-fraud input. The best, brightest, and most honest unanimously condemned the bill. Enacting it also bypassed others "who designed and implemented successful means to limit the crises, who prevented problems through effective supervision from becoming crises, and who held" criminal bankers accountable.

Further, people who got everything wrong earlier designed the Act. Failure's institutionalized. So is fraud. What succeeds gets trashed.

The unique aspect of today's crisis is that criminal bankers most responsible got off scot-free to steal again. They gained massive wealth and stand to gain much more.

Earlier fraudsters were prosecuted. Not a single Wall Street boss or top official faced charges this time. The JOBS Act represents "the sick face of crony capitalism."

Western-style capitalism reflects FIRE sector dominance over industry involved in making things. Financial giants are predators. We're prey. Parasitism describes their business model. In other words, the grandest of grand theft.

 A system this bad can only get worse. Money power alone matters. It's fraudulently manipulated to make more of it at the public's expense. Jobs are destroyed for greater profits. So are economies and peoples' lives. They're expendable to be exploited and trashed.

The JOBS Act is "so fraud friendly that it will harm capital formation," create greater job losses, and raise poverty to record levels. At the same time, large-scale white-collar crimes are whitewashed. Instead of repudiating and prosecuting fraud, it's encouraged.

The Act's opaqueness makes it easier than ever. We know, said Black, "this increases fraud." Instead of living and dying by it, Wall Street crooks thrive on it, courtesy of political Washington.

Financial giants today are weapons of mass destruction. Freed from regulatory constraints, they extract wealth from households, investors, communities and nations. They operate like locust hordes consume vegetation with ease. Main Street feels their sting.

A Final Comment

In the 1980s, Russian comedian Yakov Smirnoff appeared on US television. His tag line about America was calling it "What a country!" In Soviet Russia, the "government control(led) corporations. In America, corporations control the government."

Profiteering is a way of life, especially on Wall Street. "What a country" indeed, and the worst is yet to come. Bet on it!

Stephen Lendman lives in Chicago and can be reached at lendmanstephen@sbcglobal.net.

Also visit his blog site at sjlendman.blogspot.com and listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network Thursdays at 10AM US Central time and Saturdays and Sundays at noon. All programs are archived for easy listening.

Thursday, March 29, 2012

THE IERISSOS RESISTANCE

By greydog, 99GetSmart.com
On March 25, in northern Halkidiki, several people gathered in the town square, after the march by students of the Ierissos Gymnasium High School, wearing black armbands and raising clenched fists in front of an empty podium.
At least 2500 residents of Ierissos formed a 15km convoy of cars and headed for the Great Lady. There, they marched to denounce gold mining operations on their mountain by the Greek mega corporation, Aktor and Canadian Eldorado Gold, who use employees and local riot police as mercenaries against the local community.
The entrance to the mountain was cordoned off by riot police, who protect the occupation of the mountain for private corporations at the taxpayer’s expense. The riot police responded to the peaceful protesters with tear gas and by firing rubber bullets at the crowd, despite the presence of the elderly, women and children.
The residents of Ierissos condemn the riot police for their cowardly attacks and for their willingness to provide protection to the private interests of corporations and foreign associates at the expense of the environment and the local community.
The community’s list of demands include the immediate cessation of mining operations and the removal of riot police. They have also requested that the local prosecutor come to Ierissos to adjudicate between the two sides, with both sides fairly represented in the process.
It is worth noting that this is the second time private citizen, George Bobolas of Aktor, has dispatched the local riot police to act as his private army against local communities. See The Keratea Resistance:  http://99getsmart.com/?p=235
VIDEOS: MARCH 25, IERISSOS:

Wednesday, March 28, 2012

Newspaper readership collapsing as people turn to alternative news for truthful reporting

(NaturalNews) Traditional, mainstream print news appears to be on the brink of collapse as more and more people turn to independent, primarily online news sources for information. A recent report from Financial Times explains how, from almost every angle, print newspapers are taking a major hit, not only with declines in readership, but also in flailing advertising revenues.

Last year, the Pew Project for Excellence in Journalism put out its The State of the News Media 2011 report which found that more Americans now get their news from online sources rather than from print sources (http://www.technolog.msnbc.msn.com). And even though traditional newspapers are increasingly making the migration online, they are still losing $7 in print ads for every dollar in online ads they gain.

News outlets that began online rather than in print seem to be faring just fine, on the other hand, as their advertising and other revenue sources were natively designed for the online environment to begin with. But for traditional mainstream news outlets that began in print, many of which are now owned by corporate conglomerates, the situation is dire.

The controlled media is being exposed as a fraud on every front

However, it is not simply that print is becoming "out of style" so much as it is that print news is largely controlled news, which an increasing number of Americans are growing to distrust. More than half of all Americans, in fact, have indicated that they do not trust the mainstream media to report fair, accurate, and balanced news, which is why many of them have turned to alternative news sources like NaturalNews and InfoWars for independent, full-disclosure coverage of current events (http://www.naturalnews.com/033667_mainstream_media_public_trust.html).

"The media has essentially rendered itself irrelevant in the minds and the opinions of a large majority of Americans," said Don Debar, a political activist, to Press TV in a recent interview. "I am talking about the American media from CNN to FOX [News] and even including some of the so-called progressive media, like Democracy Now and Pacific Radio, where people do not look to them anymore for authoritative information (http://www.presstv.ir/detail/232461.html).

Try as they might to gain back the monopoly on news they have lost to the independent media, both online and in print, the traditional print media will ultimately fail to maintain any sort of relevancy if it continues to censor the news as it has been for many years now. More Americans than ever are now awake to the shenanigans of the corporate controllers in major media, which means no amount of online savvy is going to make a difference in stopping the eventual collapse of the corporate news media, no matter how it re-brands itself.

What is the leverage point for Occupy’s victory?

This is my paper for The Center of Process Studies’ conference, Money-Creation in a Finite World (free and open to the public, April 10-12, 2012; Claremont Colleges, CA):
Money and credit as public services for full-employment, optimal infrastructure, ending debt slavery: Epic proponents, related history of US government and corporate media, partnership for Occupy victory
It’s divided into these 11 parts for articles (links added with each new section):
Monetary and credit reform: full-employment, end of debt slavery
Thomas Edison, Thomas Jefferson on monetary reform

President Andrew Jackson, Peter Cooper on monetary reform
NYC Mayor John Hylan, House Banking Committee Chairs on monetary reform
Benjamin Franklin, William Jennings Bryan on monetary reform
Charles Lindbergh Sr., 86% of Great Depression economists on monetary reform
What should the average citizen know about US War Crimes?
What should the average citizen know about US war history?
What is the leverage point for Occupy’s victory?
What does monetary and credit freedom look like?
My personal history of the 1% choosing to kill a million children each month
Summary:
Monetary and credit reform is a policy objective to end transfer of trillions of the “99%’’’s wealth to an oligarchic “1%.” The US banking collusion only and always co-exists within a larger oligarchy with government for legal protection, and media for public propaganda. This paper presents histories in monetary reform and US government crimes in war suppressed by today’s US corporate media’s history texts and news journalism. When the oligarchy’s voice is professionally exposed as obviously and egregiously lying in omission and commission in claims of central importance of the past and present, government and corporate media loses credibility in an “emperor has no clothes” transformation. Refutation of the oligarchy’s voice with objective and independently verifiable facts, especially in light of current War Crimes and Constitutional destruction, supports our policy goal for monetary and credit reform because the public will seek alternative voices to build a brighter future. To support our goal of upgraded economic policies, we should be open to synergy with ecological and resource-based economic models, and network with Occupy.
**********
Is there a leverage point for our/Occupy’s victory?
Yes: the arrest of the criminal 1% related to money/credit, government, and media. When the oligarchy is broken, we’ll have an opportunity to offer solutions through media with a chance to work in good faith for factual and comprehensive accuracy.
The easiest area to initiate arrests and end the criminal elements preventing monetary and credit reform is perhaps US War Crimes/Wars of Aggression. Because it is they who pay the greatest price for expanding and endless US criminal wars, it is probable that factions of the US military have plans for a military coup. In fact, I hope honest US military leadership arrests and removes the criminals. I really don’t like alternative scenarios I’ve read and can imagine of either the 99%’s defeat or a cornered criminal 1% acting in desperation.
Although I’ve been inviting the criminal 1% to have a “Scrooge conversion” and surrender
[47] to a Truth and Reconciliation process for years, the end-game is perilous.
This point is a big deal; its time seems near.
 “The people — the people — are the rightful masters of both Congresses, and courts — not to overthrow the Constitution, but to overthrow the men who pervert it.” -  "Abraham Lincoln, [September 16-17, 1859] (Notes for Speech in Kansas and Ohio)," Page 2.
footnotes:
47 my latest offer: Herman, C. As 1% face extinction, Scrooge, Darth Vader, Professor Snape offer advice. Examiner.com. Feb. 22, 2012