is college education worth the debt?

NPR | A college degree has long been considered a golden ticket to success in this country. But with the current economic recession, some question whether obtaining a college degree is worth going into debt. Boyce Watkins, a professor of finance at Syracuse University; author Richard Vedder, a professor of economics at Ohio University, discuss how many are rethinking their high hopes of a college education. The men are joined by Hunter Walker, a recently-enrolled graduate student at Columbia School of Journalism, who recently wrote about his educational debt worries on the tabloid Web site Gawker.com. Fist tap Dale.

of the 1%, by the 1%, for the 1%...,

Video - Joseph Stiglitz addresses the growing class divide taking place in the United States Part 1.


Video - Part 2. of Joseph Stiglitz interview.

Cafe Americain | The pigmen are going to be unrelenting in their attacks on the middle class and the poor. The attacks are threefold:

1. resisting financial and political reform which caused the crisis in the first place. Three years after the crisis and no major player has even been indicted, the bonus system is flourishing again, and politicians are taking many millions in funds from the bankers and wealthy elite to promote their agendas.

2. blaming the victims, and compelling them to take the greatest pain of the bailouts, and continuing bailouts and subsidies to the financial class through spending reallocations. The bailouts and spending on the military industrial complex are crowding out the public functions of government. There are even people trying to justify the theft of the Social Security Trust. Look, the funds are gone, we've taken them and given them to the banks! So no use crying over spilt milk, suck it up, and let's move on and take your cuts.

3. shifting the impulse to reform from financial reform to 'tax reform' that further supports the monied interests. Cut taxes for the wealthiest as your primary agenda using a variety of deceptive means like promoting a consumption tax, or a flat income tax but with offshore havens and loopholes, so the burden falls most heavily on those who spend the greatest percentage of their labor on subsistence, their basic needs.

Listen to what Stiglitz has to say, and think about it. He is not perfect, the documentary Inside Job was not perfect, but start thinking for yourselves, and stop taking the easy route of allowing others to think for you, and mouth their slogans. They are only too willing to tell you what to think, what is real even if your eyes say no, if you let them.

soldaten - soldiers accounts of rape, murder, and genocide

Spiegel | The public discourse about war is characterized by contempt for the bloody sides of the military profession, a contempt to which soldiers themselves conform when they are asked to describe their experiences. But there is also another view of war, one in which it is not only an endless nightmare, but also a great adventure that some soldiers later remember as the best time of their life.

In World War II, 18 million men, or more than 40 percent of the male population of the German Reich, served with Germany's military, the Wehrmacht, and the Waffen-SS. Hardly any other segment of time has been as carefully studied in academia as the six years that began with Germany's invasion of neighboring Poland in September 1939 and ended with the total capitulation of the German Reich in May 1945.

Even historians find it difficult to keep track of the literature on the deadliest conflict in human history. The monumental "Germany and the Second World War," which was completed three years ago by the Military History Research Institute in Potsdam near Berlin and is seen as the standard German work on the war, encompasses 10 volumes alone.

Every battle in this monstrous struggle for control over Europe has its fixed place in the historical narrative today, as does, of course, the horrible violence that left 60 million dead around the world, including the suffering of the civilian population, the murder of the Jews and the partisan war in the East.

Sugarcoating Reality
But how the soldiers experienced the war, how the constant presence of death and violence changed them, what they felt and feared, but also enjoyed -- all of this tends to be marginalized in historical accounts. History was long suspicious of the subjective view of the events it considers, preferring to stick to verifiable dates and facts.

But this also has to do with the incompleteness of sources. Military letters, reports by contemporary witnesses or memoirs provide a sugarcoated version of reality. The recipients of these personal accounts were the wives and families of soldiers or the broader public. Descriptions of the daily business of war, in which soldiers just happened to massacre the residents of a village or "brush" a few girls, as rape was called in the troops' jargon, had no place in these accounts.

It isn't just that the recipients' expectations stood in the way of soldiers providing truthful accounts of what had actually happened -- the time that had passed since the war also distorted the soldiers' views of their experiences. In other words, anyone who wants to obtain an accurate picture of how soldiers see a war must gain access to them and gain their trust as early as possible, so that they can speak openly without the fear of being called to account afterwards.

What already seems hardly feasible for current military operations like the war in Afghanistan is nearly impossible when it comes to an event that happened so long ago as World War II. Nevertheless, two German historians have managed to produce precisely such a documentary of perceptions of the war using live historical recordings.

In Their Own Words

The material that historian Sönke Neitzel uncovered in British and American archives is nothing short of sensational. While researching the submarine war in the Atlantic in 2001, he discovered the transcripts of covertly recorded conversations between German officers in which they talked about their wartime experiences with an unprecedented degree of openness. The deeper Neitzel dug into the archives, the more material he found. In the end, he and social psychologist Harald Welzer analyzed a total of 150,000 pages of source material. The result is a newly published book with the simple title of "Soldaten" ("Soldiers"), published by S. Fischer Verlag. The volume has the potential to change our view of the war.

The recordings, which were made using special equipment that the Allies used to secretly listen in on conversations between German prisoners of war in their cells starting in 1939, offer an inside view of World War II. In doing so, they destroy once and for the myth of a "clean" Wehrmacht.

In "Soldiers," which is subtitled "Transcripts of Fighting, Killing and Dying," the soldiers talk about their views of the enemy and their own leaders, discuss the details of combat missions and trade astonishingly detailed accounts of the atrocities they both witnessed and committed.

psychopathology, parasitism, totalitarianism

Video - A parasitic wasp has injected her eggs into a caterpillar -- and now they're ready to hatch.

ActivistPost | Perpetual Parasitism - There are other examples in nature of parasites with evolved dependency upon a specific host species. If the host species becomes extinct, so does the parasite. It is unable to survive with any other host.

Some species of parasites are termed species specific. This means that they can complete their life cycle in only one species of host. Should they enter the wrong species they are unable to complete their life cycle and die, all generally without the host requiring treatment. Source

It seems clear to me that the psychopath/society relationship is that of highly specialized parasite/host. That the psychopath operates externally to the host in no way disqualifies it as parasite. The common mosquito is without question parasitic, as are the tick, the leech, and many other bloodsuckers. I think this human/human arrangement is unique in at least one regard, however: I know of no other situation wherein the host and parasite are, apparently, of the same species.

The psychopath/parasite cannot survive without non-psychopathic humans to prey upon. It needs the support of other humans, as do we all, but is incapable of functioning as a cooperative member of the population. Nor can it survive on its own or within a group comprised only of psychopaths. Although often highly intelligent, they frequently lack any real abilities or skills, but rely instead on deceit, malicious cunning, and ruthless self-interest enhanced by a complete absence of conscience or remorse.

What’s nice about this explanation is that it not only explains why psychopaths exist, but also why we’re not all psychopaths. If there are few enough psychopaths in the population, then being a psychopath makes sense because you’ll mostly have winning confrontations with nice people. But if there are too many psychopaths, then the gains from taking advantage of nice people will be swamped by the losses from confronting other psychopaths. In equilibrium, you’ll get both psychos and nice folks, with each strategy generating approximately equal returns, and with the precise balance determined by the relative payoffs of different interactions. Source

The Matter Of Degree
At the extreme, the psychopath simply resorts to outright violence to satisfy its needs. These cases are by far in the minority however. They may be a separate variety, a sub-group, which is not completely parasitic in some instances. In any case, however horrible their acts may be, they are not nearly as deadly as those who function within the system of government and business disguised as “aggressive”, “ambitious” and “savvy” type-A go-getters.

There's currently a bull market in corporate psychopaths, according to psychologist Paul Babiak of HRBackOffice, an industrial-consulting firm in Hopewell Junction, N.Y. Organizations undergoing major changes, such as downsizing or mergers, provide a chaotic atmosphere that savvy psychopaths exploit", Babiak holds. "They cozy up to a firm's power brokers, manipulate coworkers, and intimidate underlings on their way up the corporate ladder, stealing everything possible along the way.

Not all psychopaths resort to violence, however. Highly intelligent people with psychopathic personalities find fertile, nonviolent opportunities in conning and manipulating others, in Porter's view. Source

The ratio of parasites to host must be kept quite small, or the entire host population might be wiped out leaving the parasites unable to survive. In the past, when the drain became too great, the host population has attempted to exterminate the parasite, hence the repeated cycle of bloody revolutions throughout history. Evidently, the effort at eliminating the parasitic infestation has never been fully successful.

Threatened with extinction, the psychopath displays great skill at hiding in plain sight. A psycho-camouflage of sorts is employed, allowing the parasite to mimic a sense of sorrow, dismay or other feelings not actually present in the psychopathic character. Some always manage to survive by temporarily blending with the host population.

The Disease Blames The Afflicted The most ironic aspect of this condition is that these life-draining parasites, riding on the body of humanity like great, bloated ticks, are the first to scream bloody murder should anyone among the host population require aid in a time of distress. They express indignation and outrage at any action, program or institution that can be seen as benefitting the general welfare. Such people, they insist, are freeloaders and moochers and such programs a drain on society. The hypocrisy is breathtaking. Part of the skill-set I suppose.

skeleton dance

Video - 1929 Disney Short

Kunstler | Like the dancing skeletons of film history, here come the elected office-holders of the US government cutting their capers in the graveyard of empire, giving the paying customer - er... citizens - a nice case of the Friday night heebie-jeebies in a mock battle over inanities. It made for a few hours of diverting theater, with an emphasis on diversion - since the whole gruesome melodrama of the US budget finally hinged on a ploy to de-fund the Planned Parenthood organization, one of the few useful endeavors left in this land of depravity, monster trucks, and microwaved cheese snacks.

I don't believe for a moment that the political right cares about the well-being of fetuses, anyway. The abortion issue is just a convenient cudgel to bash their political adversaries on the left. Karl Marx, a useful polemicist if a hinky guide in practical politics, had an apt term for what has become the ideology of the American right wing: "rural idiocy." It included all the familiar superstitions, phobias, obsessions, bugaboos, misconceptions, animosities, and sadistic impulses of simple country folk. Of course, today we'd have to update it as "suburban idiocy," because that is where the simple country folk of yesteryear have transpired to relocate, most traumatically in the Sunbelt, where today's car dealers, franchise moguls, and country clubbers, were only two generations ago digging chiggers out of their bare ankles after long days in the sharecrop furrows.

These folk believe all kinds of things that are not true, in fact lack the mental equipment for measuring the difference between what is true and not true and, having never known it, don't miss it. How else can you account for the burgeoning industry of "creation" museums all across Dixieland? These are the folks who, in the name of "liberty," want to regulate your sex life in accordance with the Southern Baptist Convention, the folks who want to start World War Three in order to promote the mythical "rapture," the folks who don't think twice about destroying the conditions that tend to support life on Planet Earth.

little iceland panics big banks

The Daily Bell | For those of us who believe that the world and especially the West is headed in the wrong direction with its endless emphasis on centralization and consolidation leading inevitably to a "one-world order," the saga of little Iceland versus the big banks is actually an inspiring tale. This little nation of 300,000 has twice now voted against accepting a nearly US$7 billion national debt – accrued by several reckless Icelandic financial institutions – that would make every citizen responsible for their banks' actions and the equally rash actions of the Dutch and British governments.

The problem is aptly summed up by a splendid little article in the Wall Street Journal (excerpted above) by Hannes H. Gissurarson out of Reykjavik, Iceland. He explains the evolution of the contretemps as follows:

How Icelandic taxpayers got stuck with this bailout bill is a strange saga. When the international financial crisis hit bottom in the fall of 2008, it became clear that the Icelandic Insurance Fund for Depositors could not cover all the liabilities of the foreign branches of the private Icelandic bank Landsbanki. In order to avoid a general run on their own banks, the British and the Dutch governments decided to reimburse depositors, for not only the principal, but also the interest due, in Landsbanki branches in their countries, up to a certain level.

These two governments then presented the bill to the Icelandic government: £3.5 billion. For the tiny Nordic nation of 320,000, this was an enormous sum, amounting to half of its annual GDP. It would be equivalent to a £700 billion claim on the British government. The Icelandic government protested that it was not responsible for deposits in private banks. It had fully complied with European law in setting up the Icelandic Insurance Fund for Depositors, financed by a levy on the banks.

If the fund could not meet its obligations, it was a problem for those who, at their own risk and for a quick profit, had entrusted their money to Landsbanki. But under threats from the British and the Dutch governments, supported by the European Union and the International Monetary Fund, at the end of 2009 Iceland reluctantly signed a treaty according to which it had to pay the total sum, with stiff interest rates, to the United Kingdom and the Netherlands.

The import of the above unfairness is powerful for those who believe (as we do) that the 21st century is marked by a clash between the truth-telling of the Internet and the dominant social themes – the fear-based promotions – of the Anglo-American elite that seeks a One-World Order. The power elite, which has been attempting to create global government for nearly a century now, or perhaps longer, needs to project a certain inevitability. Iceland's two rejections of attempts to force its citizens to pay for the financial mistakes of others must be causing nausea in the City of London and upending the sense of inevitability that is so important to the wretched bullying that has become the trademark signature of the European Union.

why iceland voted NO!!!

Video - the people of Iceland voted in a referendum to not pay back the UK and Netherlands the money they lost in the Icelandic bank collapse.

NEP | The relevant EU directive states “that the cost of financing such schemes must be borne, in principle, by credit institutions themselves.” As priority claimants Britain and the Netherlands will indeed get the lion’s share of what is left from the Landsbanki corpse. That was not the issue before Iceland’s voters. They simply aimed at saving Iceland from an open-ended obligation to take the bank’s losses onto the public balance sheet without a clear plan of just how Iceland is to get the money to pay.

Prime Minister Johanna Sigurdardottir warns that the vote may trigger “political and economic chaos.” But trying to pay also threatens this. The past year has seen the disastrous experience of Greece, Ireland and now Portugal in taking reckless private sector bank debts onto the public balance sheet. It is hard to expect any sovereign nation to impose a decade or more of deep depression on its economy inasmuch as international law permits every nation to act in its own vital interests.

Attempts by creditors to persuade nations to bail out their banks at public expense thus is ultimately an exercise in public relations. Icelanders have seen how successful Argentina has been since it imposed a crew haircut on its creditors. They also have seen the economic and political disruption in Ireland and Greece resulting from trying to pay beyond their means.

Creditors did not give accurate advice when they told Ireland that it could pay for its bank failures without plunging the economy into depression. Ireland’s experience stands as a warning to other countries about trusting overly optimistic forecasts by central bankers. In Iceland’s case, in November 2008 the IMF staff projected yearend-2009 gross external public and private debt at 160% of GDP – but observed that an exchange rate depreciation of 30% would push the ratio to 240% of GDP, which would be “clearly unsustainable.” But the most recent IMF staff report (January 14, 2011) shows end-2009 gross external debt at 308% of GDP, and estimates end-2010 gross external debt at 333% – even before taking the Icesave and other debts into account!

The main problem with Iceland’s obligation to Britain and the Netherlands is that foreign debt is not paid out of GDP. Apart from what is recovered from Landsbanki (now with the help of Britain’s Serious Fraud Office), the money must be paid in exports. But there has been no negotiation with Britain and Holland over just what Icelandic goods and services these countries would be willing to take in payment. Already in the 1920s, John Maynard Keynes pointed out that the Allied creditor nation had to take some responsibility just how Germany could pay its reparations, if not by exporting more to these countries. In practice, German cities borrowed in New York, turned the dollars over to the Reichsbank, which paid Britain and France, which paid the money back to the U.S. Government for their Inter-Ally Arms debts. In other words, Germany tried to “borrow its way out of debt.” It never works over time.

offshore financial centres

backbone of complex networks of corporations: The flow of control

arvix | We present a methodology to extract the backbone of complex networks based on the weight and direction of links, as well as on nontopological properties of nodes. We show how the methodology can be applied in general to networks in which mass or energy is flowing along the links. In particular, the procedure enables us to address important questions in economics, namely, how control and wealth are structured and concentrated across national markets. We report on the first cross-country investigation of ownership networks, focusing on the stock markets of 48 countries around the world. On the one hand, our analysis confirms results expected on the basis of the literature on corporate control, namely, that in Anglo-Saxon countries control tends to be dispersed among numerous shareholders. On the other hand, it also reveals that in the same countries, control is found to be highly concentrated at the global level, namely, lying in the hands of very few important shareholders. Interestingly, the exact opposite is observed for European countries. These results have previously not been reported as they are not observable without the kind of network analysis developed here.

econophysicists identify world’s top 10 most powerful companies

arvixblog | The study of complex networks has given us some remarkable insights into the nature of systems as diverse as forest fires, the internet and earthquakes. This kind of work is even beginning to give econophysicists a glimmer of much-needed insight in the nature of our economy. In a major study, econophysicists have today identified the most powerful companies in the world based on their ability to control stock markets around the globe. it makes uncomfortable reading.When it comes to complex networks, economics has always been poorly understood. That’s at least partly to do with the complexity of the networks n question. It is relatively straightforward to draw up a set of nodes representing the shareholders of major companies and draw in the links between them. This kind of analysis has shown that the control of stock markets is distributed between many nodes.

This kind of basic graphing tells you nothing about the way ownership changes as shares are bought and sold. Another important variable is the market capitalization of the companies–their size–which has an important effect on the dynamics. In theory, including these factors can give you a much greater insight not only into the ownership of these companies, but also into their control.

Now James Glattfelder and Stefano Battiston at the Swiss Federal Institute of Technology in Zurich have included these factors in a study of the control and ownership of stockmarkets in 48 countries around the world. Their results are startling.

It turns out that the insight gained from a simple network analysis –that ownership and control is distributed over large numbers of people–is entirely misleading. When other factors are included, such as the way ownership changes as shares are bought and sold, it turns out that stock markets are controlled by a very small number of companies.

Glattfelder and Battiston have even identified the companies with the greatest power in each of the stockmarkets they study. They have even created a list of global powerbrokers, the companies that are influential in the most stock markets around the world. Here is the top 10:

1. The Capital Group Companies
2. Fidelity Management & Research
3. Barclays PLC
4. Franklin Resources
5. AXA
6. JPMorgan Chase & Cp
7. Dimensional Fund Advisors
8. Merrill Lynch & Co
9. Wellington Management Company
10. UBS

These are the companies that control the global stockmarket. That’s a frightening though. What it suggests is that the stability of the complex networks that make up our economy is hugely dependent on the ongoing survival of just a handful of companies.

We’re entitled to ask whether they’re up to the job. Recent experience suggests not.

The Backbone of Complex Networks of Corporations: Who is Controlling Whom?

controlling africa and ejecting russia and china from the mediterranean

LewRockwell | In the 1930s the US, Great Britain, and the Netherlands set a course for World War II in the Pacific by conspiring against Japan. The three governments seized Japan’s bank accounts in their countries that Japan used to pay for imports and cut Japan off from oil, rubber, tin, iron and other vital materials. Was Pearl Harbor, Japan’s response?

Now Washington and its NATO puppets are employing the same strategy against China.

Protests in Tunisia, Egypt, Bahrain, and Yemen arose from the people protesting against Washington’s tyrannical puppet governments. However, the protests against Gaddafi, who is not a Western puppet, appear to have been organized by the CIA in the eastern part of Libya where the oil is and where China has substantial energy investments.

Eighty percent of Libya’s oil reserves are believed to be in the Sirte Basin in eastern Libya now controlled by rebels supported by Washington. As seventy percent of Libya’s GDP is produced by oil, a successful partitioning of Libya would leave Gaddafi’s Tripoli-based regime impoverished.

The People’s Daily Online (March 23) reported that China has 50 large-scale projects in Libya. The outbreak of hostilities has halted these projects and resulted in 30,000 Chinese workers being evacuated from Libya. Chinese companies report that they expect to lose hundreds of millions of yuan.

China is relying on Africa, principally Libya, Angola, and Nigeria, for future energy needs. In response to China’s economic engagement with Africa, Washington is engaging the continent militarily with the US African Command (AFRICOM) created by President George W. Bush in 2007. Forty-nine African countries agreed to participate with Washington in AFRICOM, but Gaddafi refused, thus creating a second reason for Washington to target Libya for takeover.

A third reason for targeting Libya is that Libya and Syria are the only two countries with Mediterranean sea coasts that are not under the control or influence of Washington. Suggestively, protests also have broken out in Syria. Whatever Syrians might think of their government, after watching Iraq’s fate and now Libya’s it is unlikely that Syrians would set themselves up for US military intervention. Both the CIA and Mossad are known to use social networking sites to foment protests and to spread disinformation. These intelligence services are the likely conspirators that the Syrian and Libyan governments blame for the protests.

Caught off guard by protests in Tunisia and Egypt, Washington realized that protests could be used to remove Gaddafi and Assad. The humanitarian excuse for intervening in Libya is not credible considering Washington’s go-ahead to the Saudi military to crush the protests in Bahrain, the home base for the US Fifth Fleet.

If Washington succeeds in overthrowing the Assad government in Syria, Russia would lose its Mediterranean naval base at the Syrian port of Tartus. Thus, Washington has much to gain if it can use the cloak of popular rebellion to eject both China and Russia from the Mediterranean. Rome’s mare nostrum (“our sea”) would become Washington’s mare nostrum.

“Gaddafi must go,” declared Obama. How long before we also hear, “Assad must go?”

The American captive press is at work demonizing both Gaddafi and Assad, an eye doctor who returned to Syria from London to head the government after his father’s death.

The hypocrisy passes unremarked when Obama calls Gaddafi and Assad dictators. Since the beginning of the 21st century, the American president has been a Caesar. Based on nothing more than a Justice Department memo, George W. Bush was declared to be above US statutory law, international law, and the power of Congress as long as he was acting in his role as commander-in-chief in the “war on terror.”

islamic banking and finance...,

Executive | Middle Eastern banks at center of sharia-compliant finance

Islamic banking and finance has clearly found its home in the Gulf. The region leads the industry by housing two thirds of global assets, worth roughly $350 billion. Also, the world’s leading Islamic financial institutions are all headquartered in the Gulf states and they routinely export their business model to Asia, Europe and Africa. Ninety percent of incremental retail-banking production in Saudi Arabia is Islamic, but Bahrain acts as the regional hub for Islamic finance. This is largely because the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) is based in Manama.

However, despite Bahrain’s role as a hub for Islamic finance, with 28 Islamic banks based in the island state, the market share for Islamic banks in the country is only 7%, according to a recent report by Moody’s. The other surprise in the study is that Oman is a Gulf state with no Islamic banks.

A closer examination of the regional sharia-compliant scene reveals that the largest Islamic commercial bank by total assets is Saudi Arabia’s Al Rajhi Bank, with more than $28 billion in assets. Second in line comes the historic Kuwait Finance House at $21.8 billion, followed by Dubai Islamic bank with $17.5 million.

Future Trends
It will be important to watch Noor Islamic Bank, based in Dubai. Started as a project of Sheikh Mohammed bin Rashid al Maktoum, Noor’s ultimate goal is to become the largest Islamic bank in the world. It only recently launched with ten branches in the UAE and intends to follow an Emirates Airlines model in order to solidify the market base, including a significant focus on customer service and innovative products.

When asked when Noor will break into the regional banking scene, a senior official at the bank remarked that this is confidential, but added: “I can say that whenever we are feeling very strong in the UAE, then we will look to the outside.” Considering who is backing the project, this will probably not take very long and one can expect an aggressive, regional Noor very soon.

Another bank to watch is the Abu Dhabi Islamic Bank, the second largest Islamic bank in the Emirates. ADIB recently entered the Egyptian market with the purchase of a 51% stake in Egypt’s National Bank for Development for $28 million. This was a bold move considering the poor reception Islamic banking is receiving in Egypt at the moment. Five years ago, a ruling by Mohammed al-Tantawi, one of Egypt’s highest-ranking Islamic scholars, essentially permitted earning a fixed amount of capital on an invested principle, largely seen as allowing interest. The move has been a large contributor to the crippled pace of development of Islamic finance in the country.
However, despite the current poor climate, the potential for Islamic banking in Egypt is huge, and one should expect more moves from Abu Dhabi Islamic Bank into Egypt, possibly in the form of a buyout.

A recent Middle East Business Intelligence report said it best, when it opined, “If Abu Dhabi Islamic Bank can make a success of offering Islamic products, the whole market will open up. We have already seen some of the local banks start to advertise their Islamic products in view of the competition for customers they see about to begin.”

Clearly Islamic banks in the Gulf are already anticipating the day when their home markets are saturated. And it appears that Egypt will be on the next front-line in the development of regional Islamic banking and finance.

why glenn beck's ghetto pass was revoked...,

Video - Glenn Beck hosts G. Edward Griffin on the Fed.

WaPo |On Friday, the unemployment rate dropped to 8.8 percent, as businesses added jobs for the 13th straight month.

On Wednesday, Fox News announced that it was ending Glenn Beck’s daily cable-TV show

These are not unrelated events.

When Beck’s show made its debut on Fox News Channel in January 2009, the nation was in the throes of an economic collapse the likes of which had not been seen since the 1930s. Beck’s angry broadcasts about the nation’s imminent doom perfectly rode the wave of fear that had washed across the nation, and the relatively unknown entertainer suddenly had 3 million viewers a night — and tens of thousands answering his call to rally at the Lincoln Memorial.

But as the recession began to ease, Beck’s apocalyptic forecasts and ominous conspiracies became less persuasive, and his audience began to drift away. Beck responded with a doubling-down that ultimately brought about his demise on Fox.

He pushed further into dark conspiracies, urging his viewers to hoard food in their homes and to buy freeze-dried meals for sustenance when civilization breaks down. He spun a conspiracy theory in which the American left was in cahoots with an emerging caliphate in the Middle East. And, most ominously, he began to traffic regularly in anti-Semitic themes.

This vile turn for Beck reached its logical extreme two weeks ago, when he devoted his entire show to a conspiracy theory about various bankers, including the Rothschilds, to create the Federal Reserve. To make this case, Beck hosted the conspiracy theorist G. Edward Griffin, who has publicly argued that the anti-Semitic tract “The Protocols of the Elders of Zion” “accurately describes much of what is happening in our world today.”

Griffin’s Web site dabbles in a variety of anti-Semitic conspiracy theories, including his view that “present-day political Zionists are promoting the New World Order.”

A month earlier, Beck, on his radio program, had described Reform rabbis as “generally political in nature,” adding: “It’s almost like Islam, radicalized Islam in a way.”

A few months before that, he had attacked the Jewish billionaire George Soros, a Holocaust survivor, as a “puppet master” and read descriptions of him as an “unscrupulous profiteer” who “sucks the blood from people.” Beck falsely called Soros “a collaborator” with Nazis who “saw people into the gas chambers.”

Fox deserves credit for finally putting an end to this. Its joint statement with Beck’s production company, claiming that they will “work together to develop and produce a variety of television projects,” is almost certainly window-dressing; you can be confident Fox won’t have Beck reopening what his Fox News colleague Shepard Smith dubbed the “fear chamber.”

In banishing Beck, about whom I wrote a critical book last year, Fox has made an important distinction: It’s one thing to promote partisan journalism, but it’s entirely different to engage in race baiting and fringe conspiracy claims. Bill O’Reilly and Sean Hannity may have their excesses, but their mainstream conservatism is in an entirely different category from Beck.

Fox has rightly, if belatedly, declared that there is no place for Beck’s messages on its airwaves, and Beck will return to the fringes, where such ideas have always existed. Because his end-of-the-world themes will no longer be broadcast by a mainstream outlet, there will be less of a chance for him to inspire off-balance characters to violence.

world banks run on cocaine cash?

Video - Max Keiser says anglo-american banks are run on cocaine profits.

what history looks like in mexico

Narconews | Yesterday, multitudes took to the streets in more than 40 Mexican cities - and in protests by Mexicans and their friends at consulates and embassies in Europe, North America and South America - to demand an end to the violence wrought by the US-imposed "war on drugs."

What? You haven't heard about this? Or if you have heard something about it, did you know that it is the biggest news story in the Mexican media, on the front page of virtually every daily newspaper in the country?

A sea change has occurred in Mexican public opinion. The people have turned definitively against the use of the Mexican Army to combat against drug traffickers. The cry from every city square yesterday was for the Army to return to its barracks and go back to doing the job it was formed to do; protect Mexico from foreign invasion and provide human aid relief in case of natural disasters such as earthquakes and hurricanes. Since President Felipe Calderón unleashed the Armed Forces, four years ago, to combat drug trafficking organizations, the violence between it and the competing narco organizations has led to a daily body count, widespread human rights abuses against civilians, and more than 40,000 deaths, so many of them of innocent civilians caught in the crossfire and used by all sides in the armed conflict that still has no winners, that never will have any winner.

A fast moving series of events that began on March 28 have converged to usher Mexico into its very own "Arab spring." And it began just outside "the City of Eternal Spring," Cuernavaca, in the state of Morelos, about an hour south of Mexico City. Narco News has been covering these events for the past week (sadly, we are so far the only English-language media to do so at each step of the story, even as it has huge consequences for United States drug policy not only in Mexico but throughout the world and at home). On that date, in the town of Temixco, seven young men were assassinated. These were kids with jobs, who went to school, model kids, not criminals. And one of those kids, Juan Francisco Silvia, was the son of a nationally respected journalist and poet, Javier Sicilia, of Cuernavaca.

In a week, the soft spoken, increasingly beloved, intellectual has become the national vessel through which millions of voices now demand: End the war on drugs.

We translated Javier's Open Letter to Mexico's Politicians and Criminals this week, and penned what is our third editorial in eleven years to provide you with context and background to understand the magnitude of what he has unearthed. Yesterday we translated his statements calling for the legalization of drugs to restore peace and dignity to Mexico, and then we headed out to report the marches that this increasingly and deservedly beloved man called for to happen only days ago. We had reporters with Sicilia in his city of Cuernavaca, in Mexico City, and correspondents in numerous other Mexican and international locations, and over the course of the day I will be adding photos and more information about what happened to this page as updates.

Truth is that so much has happened in a day that processing it all tends to overwhelm. Last night, returning from the marches, ten reporters, photographers and video makers (all students or professors at the School of Authentic Journalism) met to compare notes. Everyone was so shaken - I mean that in the best possible way - by what we had seen and heard, and wanted to talk about it, to understand what exactly is happening here on the other side of the US border.

before things got chaotic in tunisia.....,

Telegraph | Islamic investment bank Gulf Finance House (GFH) and the Tunisian government have created the first offshore finance centre in North Africa. The centre will be part of Tunis Financial Harbour, a $3 billion (£2 billion) waterfront development in Raoued North, Tunis which is expected to create around 16,000 jobs for the Tunisian economy.

GFH, which is based in Bahrain, hopes that the centre will allow Tunisia to take advantage of its strategic position on the Mediterranean sea, and operate as a bridge between the EU and the rapidly growing economies of North Africa.

Esam Janahi, executive chairman of GFH said: “Tunis Financial Harbour will be North Africa’s first offshore financial services centre. Tunisia’s strategic location means that it is the natural base for a financial services hub to cater for the growing demand for financial products and services created by the growth of not only the Tunisian economy but also African economies and international investment flows into the country.”

Taoufik Baccar, governor of the Central Bank of Tunisia, added that the country has “a clear strategy of establishing Tunis as a leading regional financial services centre.”

Tunisia has undergone increasing economic liberalization over the last decade, after a long perod of strict state control. In the 2010-2011 World Economic Forum Global Competitiveness Report, it was ranked as the most competitive country in Africa, as well as the 32nd most economically competitive country globally.

state owned central bank of china

Wikipedia | The People's Bank of China (PBC or PBOC) is the central bank of the People's Republic of China with the power to control monetary policy and regulate financial institutions in mainland China. The People’s Bank of China has more financial assets than any other single public finance institution in world history.

The bank was established on December 1, 1948 based on the consolidation of the Huabei Bank, the Beihai Bank and the Xibei Farmer Bank. The headquarters was first located in Shijiazhuang, Hebei, and then moved to Beijing in 1949. Between 1949 and 1978 the PBC was the only bank in the People's Republic of China and was responsible for both central banking and commercial banking operations.

In the 1980s, as part of economic reform, the commercial banking functions of the PBC were split off into four independent but state-owned banks and in 1983, the State Council promulgated that the PBC would function as the central bank of China. Mr. Chen Yuan was instrumental in modernizing the bank in the early 1990's. Its central bank status was legally confirmed on March 18, 1995 by the 3rd Plenum of the 8th National People's Congress. In 1998, the PBC underwent a major restructuring. All provincial and local branches were abolished, and the PBC opened nine regional branches, whose boundaries did not correspond to local administrative boundaries. In 2003, the Standing Committee of the Tenth National People's Congress approved an amendment law for strengthening the role of PBC in the making and implementation of monetary policy for safeguarding the overall financial stability and provision of financial services.

state owned central bank of libya

Wikipedia | The Central Bank of Libya (CBL) is 100% state owned and represents the monetary authority in The Great Socialist People’s Libyan Arab Jamahiriya and enjoys the status of autonomous corporate body. The law establishing the CBL stipulates that the objectives of the central bank shall be to maintain monetary stability in Libya , and to promote the sustained growth of the economy in accordance with the general economic policy of the state.

The headquarter of the Central Bank is in Tripoli. However, to make the CBL services more accessible to commercial banks branches and public departments located far from the headquarter, the CBL has three branches located in Benghazi , Sebha and Sirte.

The CBL started its operations on April 1, 1956 to replace the Libyan Currency committee which was established by the UN and other supervising countries in 1951 to ensure the well being of the Weak and poor Libyan economy. The primary aims of the Libyan Currency committee were to assist Libya in creating a unified currency in all four provinces.

occult bedrock of the western world

Video - Dr. Jay Kennedy on The Plato Code.

dreams reveal our body's cares

ChinaDaily | A pioneering traditional Chinese medicine doctor suggests that dreams can be early warning signs of physical problems. Ye Jun delves deeper.

For 10 years, retiree Li Rong had a recurrent nightmare, in which she fell into a countryside squat toilet and was unable to get out. "It certainly wasn't a dream of blooming flowers or a flowing stream and it didn't feel good," says the 49-year-old former laborer from Beijing.

Determined to find the reason behind this disturbing nightmare, she consulted with traditional Chinese medicine (TCM) Dr Liu Jie, at the Yu Yuan Tang Clinic in Beijing.

Liu's explanation was nothing like the traditional interpretation of dreams offered by psychoanalysts such as Sigmund Freud and Carl Jung, whose explanations were usually rooted in the subconscious.

"The toilet hole in her dream refers to the colon," Liu says. "The fact she couldn't move in the hole corresponds to the dachangshu, an acupuncture point in the back, or the second lumbar, which is close to the colon."

Liu checked Li's back to confirm his suspicion and found the third lumbar of the vertebra was out of alignment. After he corrected it, Li's nightmare was over.

The 43-year-old Liu is licensed to prescribe herbal medicine, but his specialty is structural adjustment of the body. Over the past two years, he has discovered a fascinating link between his patients' dreams and structural problems related to his patients' bodies. He is now able to use dream analysis to help with diagnosis and treatment.

"The simplest link between dreams and the body is a similarity in shape," Liu says. "For example, if you dream of an overpass, it could correspond to the colon because they have a similar structure."

Dreams reveal our body's cares

Likewise, dreaming of a ditch may refer to the ureter; while a pond or small lake indicates the bladder. Dreaming of the sky or clouds could refer to the lungs (air); while mountain climbing could suggest a problem with the back. If there are stairs on the mountain it is more likely to indicate a spinal dysfunction.

Liu's first dream interpretation was in January 2009. Roy Chen, a 37-year-old who works for an educational NGO helping orphans in Guangzhou, told the doctor about his dream when he was having acupuncture treatment.

Chen dreamed he was sitting in an empty subway carriage, when he discovered two lost bags on the ground, one of them red. He opened one of the bags and saw an ID card bearing his name.

Liu's interpretation suggested the subway carriage related to Chen's intestines, as they both move around in an empty space. He said the big bag referred to the stomach while the small bag was the spleen. Because the bigger bag was red, Liu reasoned there could be excessive heat in Chen's stomach.

After confirming this by taking Chen's pulse, Liu prescribed medicines to dispel the excessive heat and the acne on Chen's chin disappeared.

Liu then started recording his patients' dreams and currently has a record of more than 80, with interpretations, which he has uploaded on to his blog.

"Dreams are generally defined as conscious or unconscious brainwave activity," Liu says. "As a TCM doctor, I see some dreams as a reflection of the movement of qi, or energy, in the body, on the conscious level.

"The body has a self-checking and self-correcting system that works all the time. During the day people are too occupied to notice. But in the evening these energy changes in the body can manifest themselves as dreams."