Even in recession the rich get richer: Savers have been hit for £70bn as printing money 'helps rich' admits Bank of England

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Mail Online
Hugo Duncan, August 23, 2012

The Bank of England has admitted that ow interest rates have robbed savers of £70billion

The Bank of England has admitted that low interest rates have robbed savers of £70billion

Record low interest rates have robbed savers of more than £70billion while printing money to revive the economy has mainly benefited the rich, the Bank of England admitted yesterday.

Interest rates have been pegged at 0.5 per cent since March 2009 – the lowest level in the Bank’s 318-year history – in an attempt to prop up the economy.

To read the rest of this story, visit dailymail.co.uk.

Brinkley: Citizen protests making an impact in China

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St.Augustine.com
August 25, 2012,By JOEL BRINKLEY



The way the Chinese government is behaving right now, you’d almost think it had converted to democracy. Half a dozen times in recent weeks, government officials have backed down in the face of angry citizen protests — canceling unpopular industrial projects, freeing wrongly imprisoned citizens or arresting one of its own for his reprehensible behavior.

That’s not how a communist dictatorship is supposed to behave.

To read the rest of this story, visit St.Augustine.com.

Greek town protests against migrant holding centre

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The Express Tribune

AFP/August 25, 2012

Plans by Greece's government to house undocumented migrants in disused army camps have sparked outrage in one town.

CORINTH: Plans by Greece’s government to house undocumented migrants in disused army camps have sparked outrage in one town, as immigrants in Athens protested Friday what they say is rising xenophobia.

The mayor of the town of Corinth, west of Athens, pledged Friday to resist the move – which would see thousands of migrants temporarily lodged in camps around the country.

To read the rest of this story, visit Tribune.com.pk.

Saudi Shiite clerics condemn violence in restive Qatif

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Al Arabiya News
August 21. 2012

Eleven people were killed in Qatif protests since November. (Reuters)

Eleven people were killed in Qatif protests since November. (Reuters)
 
A number of Saudi Shiite clerics this week have condemned the violence that has rocked the Eastern Province of the country in recent months. The restive area of Qatif, a stronghold of Saudi Arabia's Shiite minority, has witnessed repeated confrontations between protesters and security forces.

“We ask the people of this town to stand firmly against violence in all shapes and forms, and to condemn transgressions against lives and property,” the clerics said in a statement released Sunday.
 

To read the rest of this story, visit alarabiya.net.

Al Khalifa regime doesn’t represent the Bahraini people: Analyst

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PressTV
August 25, 2012

Bahraini protesters have taken to streets across the country to show their solidarity with political prisoners and renew their call for the downfall of the Al Khalifa regime, Press TV reports.
 

The anti-regime protests were held in several villages, including Diraz, Sadad and Bu Quwwah, on Friday.

To read the rest of this story, visit PressTV.com.

Secret Libor Committee Clings to Anonymity Following Scandal

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Bloomberg
By Liam Vaughan - Aug 21, 2012

Financial Services Authority MD Martin Wheatley

Martin Wheatley, managing director of the Financial Services Authority. (Simon Dawson/Bloomberg)

Every two months, representatives from the world’s largest banks meet at an undisclosed location to review the London interbank offered rate.

Who sits on the British Bankers’ Association’s Foreign Exchange and Money Markets Committee, the body that governs the benchmark for more than $300 trillion of securities worldwide, is a secret. No minutes are published. The BBA won’t identify any members, saying it wants to protect them from being lobbied, and declined to make the chairman available for interview.

RBS Nearing Libor Settlement: Report

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Huff Post

Reuters | Posted: 08/24/2012 11:30 am

Updated: 08/24/2012 12:52 pm

By Matt Scuffham and Sarah White

* Settlement seen in early fourth quarter - sources
* RBS likely to be next bank to settle - sources
* RBS fine could be higher than Barclays - lawmaker

Rbs Libor Deal

LONDON, Aug 24 (Reuters) - Royal Bank of Scotland is expected to agree a settlement in the next two months with U.S. and UK authorities investigating its role in an interest-rate rigging scandal, according to industry sources, regulatory officials and lawyers familiar with the case.


The part-nationalised bank, which is 82 percent-owned by the government, is working towards a settlement early in the fourth quarter, two of the sources said.

Scientists build squishy, camouflaging robots with DARPA

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Computer World
By August 20, 2012

Robots that glow in the dark could be used for search and rescue

Researchers at Harvard University's Department of Chemistry and Chemical Biology and the Wyss Institute for Biologically Inspired Engineering developed this robot made of silicone. It can walk, change color and light up in the dark. It can even change temperature. (Video: Courtesy of DARPA)
 

Computerworld - Harvard University researchers have developed a squishy robot that can disguise itself or change its color to stand out from its background.

Those features, scientists say, could help surgeons plan complicated operations or aid search and rescue crews after disasters.

U.S. Arms Sales Make Up Most of Global Market

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                                      New York Times

                                                          By THOM SHANKER

 

                                                  Published: August 26, 2012 

 

                                  

WASHINGTON — Weapons sales by the United States tripled in 2011 to a record high, driven by major arms sales to Persian Gulf allies concerned about Iran’s regional ambitions, according to a new study for Congress. 

 

 Overseas weapons sales by the United States totaled $66.3 billion last year, or more than three-quarters of the global arms market, valued at $85.3 billion in 2011. Russia was a distant second, with $4.8 billion in deals.

AP Exclusive: Romney campaign uses secretive, high-tech data-mining to find wealthy donors

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Newser
By JACK GILLUM | Associated Press | Aug 24, 2012

AP Exclusive: Romney uses secretive data-mining

FILE - In this Aug. 18, 2012 file photo, Republican presidential candidate, former Massachusetts Gov. Mitt Romney gets into his car to attend a fundraising event on Saturday, Aug. 18, 2012 in Nantucket, Mass. The unprecedented success of Romney to raise hundreds of millions of dollars in the costliest presidential...
FILE - In this Aug. 18, 2012 file photo, Republican presidential candidate, former Massachusetts Gov. Mitt Romney gets into his car to attend a fundraising event on Saturday, Aug. 18, 2012 in Nantucket,... (Associated Press)
 

Mitt Romney's success in raising hundreds of millions of dollars in the costliest presidential race ever can be traced in part to a secretive data-mining project that sifts through Americans' personal information _ including their purchasing history and church attendance _ to identify new and likely, wealthy donors, The Associated Press has learned.

Tropical Storm Isaac heads for Gulf Coast; hurricane warning issued

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Chicago Tribune
Tribune News Services, August 27, 2012

MIAMI—Tropical Storm Isaac churned toward the northern Gulf Coast early Monday and promised to give the Republican National Convention a good drenching after lashing the Florida Keys with wind and rain but apparently causing little damage.
 

The National Hurricane Center predicted Isaac would grow to a hurricane over the warm Gulf of Mexico and possibly hit late Tuesday somewhere along a stretch that starts west of New Orleans and runs to the edge of the Florida Panhandle. That would be one day shy of seven years after Hurricane Katrina struck catastrophically in 2005.

To read the rest of this story, visit chicagotribune.com.

How Are Tampa Police Spending Your $50 Million?

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ABC News
Julie Percha, August 21, 2012

PHOTO: Tampa police display vehicles to commemorate 9/11 before pregame ceremonies at Raymond James Stadium in Tampa, Fla., Sept. 11, 2011.

Tampa police display vehicles to commemorate 9/11 before pregame ceremonies at Raymond James Stadium in Tampa, Fla., Sept. 11, 2011. (Al Messerschmidt/Getty Images)
 

Armored trucks. Digital Sandbox software upgrades. EOD X-ray machines.

If it sounds like a techie's dream come true, think again: These gadgets are all part of a slew of new gear for police in Tampa, Fla., and Charlotte, N.C. -- courtesy of Congress -- as they ramp up security detail ahead of their political conventions.

Official FAA Cockpit Recordings Of Pilot UFO Sightings

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Uploaded by greggdurham on May 2, 2011

Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use. All copyrighted materials contained herein belong to their respective copyright holders, I do not claim ownership over any of these materials. I realize no profit, monetary or otherwise, from the exhibition of these videos.

Official FAA air traffic control recordings of commercial pilot's during UFO contact in mid air. Of course Unidentified Flying Objects are real. The question is who is piloting them... us? or them? Enjoy.

 

Source: YouTube.com

Gold: The Republican Death Wish

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GFP Note: This is an interesting 3D perspective on building an economy on the gold standard. Although we do not have to worry about the economy anymore, I believe that there is a reason that central banks have been buying up tons of gold and have raised the value of gold from 50% to 100% - because they're the ones who rig the gold market!

Project Syndicate
, August 26, 2012

The libertarian (Ron Paul) wing of the Republican party desires a complete rethink of US monetary policy, and has succeeded in having a monetary commission added to the GOP platform. Let's take a look at the Paulist ideas.

Among the libertarian desiderata are:
1. Abolition of the central bank.
2. An end to fiat money and a return to a metallic or bimetallic monetary standard.
3. Privatization of currency issuance.

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