The Federal Reserve gave two Wallstreet Bankster Wives $220m

Theres no real caveats or explanations I can give, they essentially were given free money. As Matt Taibbi explains here.

More questions about Glenn Greenwald.

While previous suspicions about Greenwald had been put on to a low simmer further worrying signs that Greenwald is not nearly as liberal or progressive as one might like to pretend. Ina magazine interview he has mooted support for a Libertarian presidential candidate.

Its well worth a read, one really does have to wonder how progressive Greenwald is.

Edit: Forgot to say at the bottom of that blog post it is also highlighted how anti-immigrant he is.

Man this fucking sucks.

http://www.rainn.org/statistics seems like a useful if depressing website but they only have one supporter (Rachel Bilson) in the entire fucking world? Never have I been so ashamed to be human!

Royal Wedding day purge.

Around 50 facebook pages and accounts of UK activist groups have been purged. The timing of this on the day of the royal wedding and just days before May Day is deeply suspicious.

Lists of the purged accounts can be found here and here.

Whoa there, back up a moment.

I know you're all Ron Paul 2012 boosters but I think maybe voting for him might be a bad idea

Walmart shoppers running out of money.

It seems Walmart, merry destroyers of America have hit a snag in their plan. It seems their shoppers are running out of money. I'm sure the super rich Walton family will at least privately endorse a switch to labour service from the peasants. Still, I must say I'm a bit surprised Walmart didn't forsee this being a likely outcome of a race to the bottom.

Above link was found on exiledonline.com

Very bad news for the US?

I know very little about foreign currency exchange but the way I read this article it really seems like China is starting to move to undermine one of the key pillars of US dominance, the Dollar as the world reserve currency.

Tony Comments:

Actually the general gist of it is correct (Zero Hedge is a great source of information like this). There's not a lot you can do when the biggest lender to you decides you're probably not a good prospect for paying it back, and in this case the writing's been on the wall for a good, long while.

China really doesn't have an incentive to keep financing the US (or the West in general) apart from allowing us to maintain a level of consumerism that buoys their manufacturing. Another reason mentioned in the article is that they need to maintain a stockpile of dollars since they're pegged to it so it makes sense on their end to maintain confidence in it. That being said, no one really believes the west is going to get their houses in order. We've seen small bailouts in the Eurozone but Spain has a potential to really wreck things beyond anything we've seen and no one seriously thinks the US will be fiscally responsible any time soon. For the Chinese, that has historically meant that the dollar is a refuge of last resort but they've known (and said publicly) that given their wealth and manufacturing strength that the yuan should be valued higher which is opposed to the west's wellbeing. They've staunchly refused to devalue (which would be akin to extending our line of credit) and they may continue to hold the line for a while but any chronic debtor knows that this is a dead-end for them since they continue to spend more than they take in.

In the end, this is hardly a surprise move and the effects of it are definitely bad (although I would argue that the predicament we're currently in is just as bad as it inevitably leads to this situation). There isn't really even a way out as the article points out. What will happen as the Chinese reduce debt holdings is that the yuan will be undervalued more and their portfolio grows more robust (less risk + strong capital reserves). As that occurs it will be more and more attractive to move to the yuan as a "reserve currency" as it will be backed by real wealth. While I don't see them moving to float the yuan any time soon (it would destroy the dollar and their primary market), a firm, graduated schedule for higher valuation is almost a certainty which will put great inflationary pressure on the dollar which will drive holdings from dollars to yuan quickly.

Why the right hates the TSA

Following up on a previous article which gained the ire of Glenn Greenwald Yasha Levine and Mark Ames now give a more in depth explanation of why the negative actions of the TSA suddenly became a conservative cause celebre last year.

I don't like what the TSA does but I do not labour under any illusion that right wingers care about civil liberty issues at all. They simply would prefer to return to privatised airport security at which point they would immediately become deeply concerned about the need to maintain security, even at the cost of civil liberties if necessary.

This is just another issue of shooting the messenger. The people who work for the TSA deserve decent working conditions just like everyone else. Yes they are the ones on the front line doing embarrassing and unpleasant things to everyday air travellers but they aren't the ones setting DHS policy or passing legislation that restricts civil liberties. If liberals and leftists were smart they'd direct their anger at the politicians and senior civil servants pushing these policies, not the low paid grunts on the front line.

So really do give the new article a read.

Monarchy isn't about freedom

If I'd been blogging a few months back I'd have probably highlighted that civil liberties experts in the UK believe the Royal wedding will be used as template for stifling protest as "austerity measures" begin to bite. Here is a summary of how counter terrorism laws are being used to protect the elite from any acts of dissent on their special day, all without a credible terror threat.

Nonetheless even with all this policing and denying of civil liberties I would not be surprised if a small group of "anarchists" do something bad that the media can focus on to demonise the growing protest movement and legitimise calls for further police powers.

The negative effects of the Royal Wedding don't just fall on the UK though, several nations within the Common still retain the Queen as their head of state including Canada and Australia. Australia, for the privilege of maintaining a hereditary dictator, albeit a relatively toothless one, as their head of state must trade away their right to free speech it appears. The awesome Chaser boys have been forbidden by the Royals to commentate on the royal wedding because

The broadcast agreement under which the ABC takes the wedding telecast forbids its use in "any drama, comedy, satirical or similar entertainment program or content."

Dissent isn't tolerated even if its on the other side of the world.

"To wit, damaging a truncheon."

Alife Meadows, a student who was beaten up by the police to the extent he needed brain surgery has been charged with violent disorder by the police.

LENIN'S TOMB summarises it better than I could. Its a fucking farce the amount of deference and respect the Police are given.

Another charmer invited to the Royal Wedding.

Al Jazeera offers a profile of King Mswati III the last absolutist monarch in Africa. Although to be fair to him he disputes this claim because he technically shares power with his mother. (This is, surprisingly, not an unheard of claim from absolutist monarchs. Empress Maria Theresa and her son of the Austro-Hungarian Empire bitterly feuded over power for much of his adult life). However while the Bahraini Crown Prince was disuaded from attending it would seem the mistreating blacks, who are after all considerably darker skinned than Arabs, is a-ok with Britain's government.

Chomsky on the Arab Spring...

...and why the west will likely stop at nothing to prevent democracy in the Arab world.

Read about it here. (Feel free to ignore that random editorialising at the start by someone else.)

Unhelpful advice.

A Labour Party allied think tank, the Fabian Society, has offered advice to the Lib Dems regarding equality. Shockingly this advice could cause internal discord in for them.

Theres a reason Chomsky isn't allowed on TV

Bloody Royals.

With Bahrain being one of those countries where the media look the other way on protesters being killed and disappeared I suppose I shouldn't be surprised that Bahrain's crown prince is to be a guest at the Royal Wedding on Friday. I suppose hereditary dictatorships recognise their mutual interests.

Florida is now formerly disqualified from the worst state in the union competition.

They're cheating I'm not sure how they are but they are. No state can be this terrible without deliberate effort.

That'll show em.

In response to a leaked cable in which the British High Commissioner in Malawi said the country's ruler is increasingly autocratic and intolerant of criticism said ruler is kicking the High Commissioner out for daring to criticise him.

Also this article has a frankly unnerving picture of William Hague for no apparent reason. So enjoy that.

A boringly predictable Vietnam reference.

The British government are sending "Advisors" to Libya and whether you wrap it up in faux sarcasm or shock or whatever at the end of the day this is how the troop buildup in Vietnam began.

Oh and remember kids, the Libyan rebel's military leader is almost certainly a CIA asset.

Vindication for Mr Greenwald.

Hot on the heels of Glenn Greenwald's article that highlighted the fact the Democratic party doesn't have a progressive agenda the Texas Democratic party is strongly considering having the General who oversaw Abu Ghraib run for an open Senate seat.

Royal Navy accidentally releases nuclear secrets.

You know I almost feel bad for Chinese and Russian intelligence agencies. They probably have elaborate plans set up to steal sensitive information and then America's vassal in the North Sea just gives away all sorts of sensitive info for free.

Next time there's a budget squeeze its going to be that much harder from them to justify their budgets. There's no reward for competence in this life.

Germany is pretty cool.

I mean how is this not badass?

Office Chair racing.

Stay classy Israel.

Wow Israel sure does like to conentrate Palestinians into camps and then kill them.

A very British genocide.

The War Nerd on exiled.com has been doing a daily update for 25 days straight and if you haven't been reading them you are officially failing at life. Today's update covers the Mau Mau event, yeah the one involving Obama's Grandpa (not that its stopped the big O from doing just the same to other nations as President). Pretty standard for British colonialism, every evil you can imagine from mass murder on an industrial scale to horrific abuse of prisoners and all taking place years after the Holocaust and all the hand wringing and claims to moralism that entailed.

To anyone who cares to look the British Empire was probably second only to the Mongol Empire in terms of most evil organisation ever to exist. But the more worrying implication of today's update is the convincing argument it makes about British academic complicity. Now in hindsight its not really that surprising this is the case but it had simply never occurred to me, but yeah the entire British system is set up in a way to deny the utterly horrific crimes the Empire committed that we still feel the benefits from today. Still, as someone who self identifies as a historian its not nice to think the organisation I believe myself a part of is so complicit in evil.

Monstrous turtles all the way down I suppose.

It would certainly seem plausible there is a similar propaganda model for academia.

Vermont is the best state in the Union.

Looks like Vermount is going to have singe payer healthcare and is doing so to save money.

Reminder why it will save money:


http://imgur.com/Kkx1O

Why Bill Gates and the GOP are targetting Teachers

It has been said this blog is the most depressing thing in the world excepting the stories which it covers. I am on reflection forced to admit I have nothing on Alternet. Here a contributor puts forward the convincing argument that the attacks by Hedge fund managers and the GOP on education and teachers are part of an ongoing plan to create a nation of ignorant and pliable corporate drones.

The Tory's interest in charter schools is almost certainly for the same reasons.

Glenn Greenwald on Obama's motives

Chomsky pointed this out before the election in 2008 and for several decades beforehand but nontheless Greenwald provides an excellent summary of the nature of politics in the US these days and what Obama wants in this article.

If nothing else the corporate media still let Greenwald on TV (this will likely change pretty soon) so its good hes getting Chomsky's ideas out there to a wider audience.

Liability Palin sinks from view.

No one who had any understanding of how the GOP works thought Palin was going to get the nomination for 2012 but still, it got bandied about a lot in the media. I guess her being an awful person AND a woman made her an ideal hate figure.

So anyway, as predicted Palin is being quietly withered away. The easy Obama victory a few liberals hoped for is sensibly dealt with.

French strenuously deny they captured Gbagbo

Laurent Gbagbo, deposed president of Ivory Coast is now in the custody of former IMF man Alassane Outtara's French and UN backed forces.

His capture occurred after a French assault involving armoured vehicles and aircraft but both the French and the Outtara forces they've been heavily supporting are adamant that the French didn't capture him.

As has previously been discussed Gbagbo probably wasn't a decent person either but its always a shame to see colonial armies and their proxies triumph.

Phone Hacking Update!

Hot news, when Rebecca Brooks told a select committee that reporters for The Sun paid police officers for information, she didn't mean reporters for The Sun paid police officers for information.

Consider the matter cleared up!

Well actually to quote her:

If, in doing so, I gave the impression that I had knowledge of any specific cases, I can assure you that this was not my intention.

Which is, I suppose, very likely to be true even if not in the way the statement means it.

Queen's visit to Ireland a logistical nightmare

The absurd level of risk of a terror attack / assassination of the Queen does make you wonder if Cameron wants a major incident so as to give him free reign.

Or maybe its just organised by fucking idiots. Equally possible really.

Britain is also not a democracy

Rupert Murdoch's Sunday newspaper The News of the World (a publication that challenges the World Series for the narrowest interpretation of "world") has been caught red handed hacking people's phones and has issued a public apology and offered payoffs specifically to those there is incontrovertible proof they hacked.

There are plenty of others with good cases and even some of those who've been offered bribes, including a Labour MP and former minister (political office, not God botherer), who may well not go for the deal. Indeed it seems the storm isn't breaking for News Corporation in the UK quite yet.

James Murdoch's elevation to No.3 in the hierarchy is interesting given the TV debates for the leaders of the three main parties before the election last year were his idea. The debates elevated Nick Clegg, leader of the Liberal Democrats, to an eminently popular figure and wholly undermined what had until then appeared to be an unopposed victory march for Murdoch vassal and friend of Rebekah Brooks; David Cameron. Sure the post debate surge didn't hold for the Lib Dems and the parliamentary party ended up merrily siding with the Conservatives to form a coalition government, betraying their grass roots and nearly everyone who'd voted for them at the first whiff of power but this was still a set back for the Conservatives and their patron Murdoch.

So why was he promoted? Well its difficult to choose a Mafia or Monarchy metaphor (hell they're both feudal dictatorships anyway) but essentially ol' Rupert has decided blood is thicker than water and getting his son to safety in a new country and new job, a new job that gives him considerable power over those who might reveal his misdeeds to British authorities, matters more than punishing him for accidentally allowing British politics to be opened up somewhat. Rebekah Brooks, renowned enforcer for the Murdoch family in the UK as the above article suggests, has not been given such a courtesy.

She may not be family but its hard to say she is any less influential and valuable to News Corp than James and indeed the pair were joined at the hip... even at less auspicious moments. Standing by the heir apparent during his fuckup garners no favours it seems.

News Corporation internal politics matter here because a king rushing his son out of his fiefdom does not imply supreme confidence the law can once again be ridden rough shod over. The reason for this seems to be the light of scrutiny. As is common with media magnates News Corporation has enjoyed considerable secrecy regarding its' affairs because of their power to set the agenda and its' general influence over media organisations. A line editor might want to work for a Murdoch paper, a reporter needs to keep their contacts and so on. The Phone Hacking controversy, at least to begin with, was a typical example of this.

A Charlie Brooker editorial from last September highlights this. While at that point the controversy had been rumbling on for a few months already coverage was muted and non-existent even in some non-Murdoch outlets. (Its still not worthy of attention in Murdoch outlets, my parents subscribe to The Times and in spite of the unprecedented Mea Culpa in the News of the World today there isn't a single mention of the story in The Times today). Coincidentally thats why I'm linking The Guardian so much here, they've just covered the issue more than most.

But it kept grinding on and because it affected MPs parliament kept on at it and slowly but surely its forced things out into the spotlight and this nullifies a lot of Murdoch's usual advantages. As the article points out the Metropolitan Police, who Brooks admits to giving payment, have thus far been wonderfully helpful to News Corp doing lax investigations that were sadly unable to turn up evidence that has now been admitted in the News of the World Mea Culpa. Going further back the Met and the News of the World have worked very closely together and with all that cooperation the Police gave one has to suspect that an understanding ear was given to any issues or problems the Met had regarding other news stories.

Now of course while having to face the select committee several times and public scrutiny increasing suddenly the Police are leaping into action. This will probably continue, with angry politicians and increasing public awareness they'll likely be forced to do their job for fear of facing actual punishment for their corrupt links to Murdoch.

Similarly the tremendous political influence Murdoch enjoys could be coming to bite him in the ass. Former prime minister Gordon Brown suspected he'd been hacked but failed to listen to a friendly warning from Rupert and lo and behold Murdoch switched his support to the Tories in the last election. Cameron was so "grateful" he even took on a Murdoch agent as his press secretary. Andy Coulson (the basis for "the fucker" Thick of it fans) who was an early sacrificial lamb to try and placate those who'd been hacked. With increasing unpopularity and general public unhappiness with Cameron allowing Murdoch to gain an increasing hold over the British media it is likely the conservatives, while in no way aiding the investigation, will be unable to do much to obstruct it either.

Thus it would seem News Corporation be in a fair bit of trouble in the UK at the minute with maybe even the potential for his BskyB deal to founder. This is however very much the stars coming into alignment and in the long term isn't likely a huge set back. Even if Rebekah Brooks is hung out to dry it will likely entail her being sacked and facing no criminal penalty. Then if she can survive the 6 months without a job without a heart attack or aneurysm she'll be parachuted into another powerful well paid position somewhere else in Murdoch's global empire. The elite know to look after loyal vassals, its simply a good investment.

Also in the wider world Murdoch's power is still doing just fine. There apparently exists on tape proof Fox News CEO Roger Ailes ordered a subordinate to lie to a criminal investigation. A felony. But of course this isn't getting any attention at all. Oh and not a particularly recent development but I did learn not too long ago that former Spanish Prime Minister José María Aznar is now a serving member of the News Corporation board of directors.

This investigation if anything just goes to show the tremendous power of the Murdoch family.