Showing posts with label Britain. Show all posts
Showing posts with label Britain. Show all posts

Saturday, March 21, 2015

Uber economist Michael Hudson tells us in plain words why European countries are rushing to join the Asian Infrastructure Investment Bank. Hint: The World Bank presses everywhere for privatization of public utilities and basic infrastructure, and then makes loans to the governments to develop these infrastructures, after which they sell them cheap to American buyers, who will create monopolies and turn those infrastructures into a rent extraction machines squeezing out interest, dividends, and management fees, all of which are paid to the Americans.


                                                                                         Original Here







Europe Tilts East Towards China (1/2) 

Michael Hudson Report: Britain, Germany, France and Italy are among those who joined Asian Infrastructure Investment Bank in an expression of their discontent over World Bank polices that force developing countries to depend on the US - March 20, 2015 


https://youtu.be/wuZ2MC00fVY

Bio                                                                                                                                      .

Michael Hudson is a Distinguished Research Professor of Economics at the University of Missouri, Kansas City. His two newest books are The Bubble and Beyond and Finance Capitalism and its Discontents. His upcoming book is titled Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy.

Friday, August 30, 2013

"If Obama now strikes Syria, when he has no cover from the UN, or from NATO, or from the American people, or from Congress..." "[he] will have to be handed over and put on trial. He will have no more leg to stand on than did the Nazis." -- Paul Craig Roberts



Will Obama Doom Himself As A War Criminal — Paul Craig Roberts

August 30, 2013 | Original Here                                                   Go here to sign up to receive email notice of this news letter

Will Obama Doom Himself As A War Criminal

Paul Craig Roberts

Obama, pushed by his Israeli and neocon masters, especially his National Security Adviser, Susan Rice, who, in effect, functions as an Israeli agent, crawled far out on the limb, only to have it sawed off by the British Parliament.

In response, the “socialist” president of France, Hollande, who lacks French support for France’s participation in a US/Israeli orchestrated military attack on Syria, has crawled back off the limb, saying that, while everything is still on the table, he has to see some evidence first.

As Cameron and Obama have made clear, there is no evidence. Even US intelligence has declared that there is no conclusive evidence that Assad used chemical weapons or even has control over the weapons.

Even the US puppet government in Canada has disavowed participating in the Obama/Israeli war crime.

This leaves Obama with support only from Turkey and Israel. Recently, the Turkish government shot down in the streets more of its own people–peaceful protesters, not imported mercenaries trying to overthrow the Turkish government–than were killed in the alleged use of chemical weapons by Assad.

As the entire world is aware, the Israeli government has been committing crimes against the people in Palestine for decades. A distinguished Jewish jurist concluded in an official report that the Israeli government committed war crimes in its attack on the civilian population of Gaza.

No country regards the criminal states of Turkey and Israel as cover for a war crime. If Obama is pushed by Susan Rice and the evil neocons, who are strongly allied with Israel, into going it alone and conducting a military strike on Syria, Obama will have made himself an unambiguous War Criminal under the Nuremberg Standard created by the US Government. Unprovoked military aggression is a war crime under international law. That is completely clear. There are no ifs or buts about it.

If Obama now strikes Syria, when he has no cover from the UN, or from NATO, or from the American people, or from Congress, having ignored the House and Senate, Obama will stand before the entire world, starkly, as a War Criminal. Unless the world is prepared to flush international law, arrest orders for the War Criminal will have to come from the Hague. Obama will have to be handed over and put on trial. He will have no more leg to stand on than did the Nazis.

The evil neocons are telling Obama that he must prove that he is a man and go it alone. If Obama does, he will prove that he is a War Criminal.


Friday, August 17, 2012

Ecuador President Rafael “We Are Not A Colony” Correa Stands Up To The Jackbooted British Gestapo



A coward dies many deaths; a brave man dies but once.

The once proud British government, now reduced to Washington’s servile whore, put on its Gestapo Jackboots and declared that if the Ecuadorean Embassy in London did not hand over WikiLeaks’ Julian Assange, British storm troopers would invade the embassy with military force and drag Assange out. Ecuador stood its ground. “We want to be very clear, we are not a British colony,” declared Ecuador’s Foreign Minister. Far from being intimidated the President of Ecuador, Rafael Correa, replied to the threat by granting Assange political asylum. http://www.nytimes.com/2012/08/17/world/americas/ecuador-to-let-assange-stay-in-its-embassy.html?pagewanted=2&_r=1&emc=na

The once law-abiding British government had no shame in announcing that it would violate the Vienna Convention and assault the Ecuadorean Embassy, just as the Islamic students in the 1979 Khomeini Revolution in Iran took over the US Embassy and held the diplomatic staff captive. Pushed by their Washington overlords, the Brits have resorted to the tactics of a pariah state. Maybe we should be worried about British nuclear weapons.

Let’s be clear, Assange is not a fugitive from justice. He has not been charged with any crime in any country. He has not raped any women. There are no indictments pending in any court, and as no charges have been brought against him, there is no validity to the Swedish extradition request. It is not normal for people to be extradited for questioning, especially when, as in Assange’s case, he expressed his complete cooperation with being questioned a second time by Swedish officials in London.

What is this all about? First, according to news reports, Assange was picked up by two celebrity-hunting Swedish women who took him home to their beds. Later for reasons unknown, one complained that he had not used a condom, and the other complained that she had offered one helping, but he had taken two. A Swedish prosecutor looked into the case, found that there was nothing to it, and dismissed the case.

Assange left for England. Then another Swedish prosecutor, a woman, claiming what authority I do not know, reopened the case and issued an extradition order for Assange. This is such an unusual procedure that it worked its way through the entire British court system to the Supreme Court and then back to the Supreme Court on appeal. In the end British “justice” did what the Washington overlord ordered and came down on the side of the strange extradition request.

Assange, realizing that the Swedish government was going to turn him over to Washington to be held in indefinite detention, tortured, and framed as a spy, sought protection from the Ecuadorean Embassy in London. As corrupt as the British are, the UK government was unwilling to release Assange directly to Washington. By turning him over to Sweden, the British could feel that their hands were clean.

Sweden, formerly an honorable country like Canada once was where American war resisters could seek asylum, has been suborned and brought under Washington’s thumb. Recently, Swedish diplomats were expelled from Belarus where they seem to have been involved in helping Washington orchestrate a “color revolution” as Washington keeps attempting to extend its bases and puppet states deeper into traditional Russia.

The entire world, including Washington’s servile puppet states, understands that once Assange is in Swedish hands, Washington will deliver an extradition order, with which Sweden, unlike the British, would comply. Regardless, Ecuador understands this. The Foreign Minister Ricardo Patino announced that Ecuador granted Assange asylum because “there are indications to presume that there could be political persecution.” In the US, Patino acknowledged, Assange would not get a fair trial and could face the death penalty in a trumped up case.

The US Puppet State of Great (sic) Britain announced that Assange would not be permitted to leave Britain. So much for the British government’s defense of law and human rights. If the British do not invade the Ecuadorean Embassy and drag Assange out dead or in chains, the British position is that Assange will live out his life inside the London Embassy of Ecuador. According to the New York Times, Assange’s asylum leaves him “with protection from arrest only on Ecuadorean territory (which includes the embassy). To leave the embassy for Ecuador, he would need cooperation that Britain has said it will not offer.” When it comes to Washington’s money or behaving honorably in accordance with international law, the British government comes down on the side of money.

The Anglo-American world, which pretends to be the moral face of humanity has now revealed for all to see that under the mask is the face of the Gestapo.



Friday, July 06, 2012

MATT TAIBBI FREAKS OUT OVER THE LIBOR BANKING SCANDAL


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Matt Taibbi at Skylight Studio in New York, 10/27/10. (photo: Neilson Barnard/Getty Images)














Why Is Nobody Freaking Out About the LIBOR Banking Scandal?

By Matt Taibbi, Rolling Stone
05 July 2012


he LIBOR manipulation story has exploded into a major scandal overseas. The CEO of Barclays, Bob Diamond, has resigned in disgrace; his was the first of what will undoubtedly be many major banks to walk the regulatory plank for fixing the interbank exchange rate. The Labor party is demanding a sweeping criminal investigation. Mervyn King, Governor of the Bank of England, responded the way a real public official should (i.e. not like Ben Bernanke), blasting the banks:
It is time to do something about the banking system…Many people in the banking industry are hardworking and feel badly let down by some of their colleagues and leaders. It goes to the culture and the structure of banks: the excessive compensation, the shoddy treatment of customers, the deceitful manipulation of a key interest rate, and today, news of yet another mis-selling scandal.
The furor is over revelations that Barclays, the Royal Bank of Scotland, and other banks were monkeying with at least $10 trillion in loans (The Wall Street Journal is calculating that that LIBOR affects $800 trillion worth of contracts).

The banks gamed LIBOR for two semi-overlapping reasons. As noted here last week, there were instances of Barclays traders badgering the LIBOR submitters to "push down" rates in order to fatten their immediate bottom lines, depending on what they were trading or holding that day. They also apparently rigged LIBOR downward in order to produce a general appearance of better health, essentially tweaking their credit scores a few ticks upward.

Most intriguingly, or perhaps disturbingly, there were revelations last week that Bank of England deputy Governor Paul Tucker had a conversation with Diamond at the peak of the crisis in 2008. The conversation reportedly left Diamond, and subsequently his traders, with the impression that the bank had carte blanche to rig LIBOR downward in order to help allay spiraling public fears about the banks’ poor financial health.

British officials, and Tucker individually, deny that Tucker gave Diamond permission to rig rates. But a report by British regulators did conclude that the two were talking about Barclays LIBOR submissions on October 29, 2008, and that as a result of that conversation, Diamond came away with a “misunderstanding.” The Daily Mail quotes the Financial Services Authority report:
However, as the substance of the telephone conversation was relayed down the chain of command at Barclays, a misunderstanding or miscommunication occurred.
This meant that Barclays’ submitters believed mistakenly that they were operating under an instruction from the Bank of England (as conveyed by senior management) to reduce Barclays’ Libor submissions.
That is explosive stuff. Members of Parliament will be grilling Tucker tomorrow about those events in what is sure to be a far more combative and entertaining legislative inquiry than the Jamie Dimon dog-and-pony show we just went through here in the states in recent weeks.

The implications of that part of the story should be particularly chilling to Americans, who in recent years have been party to a number of revelations about strange and seemingly inappropriate contacts between senior regulatory officials and big bankers during the heat of the crisis.

We know that American officials in 2008-2009 were extremely concerned about the appearance of weakness in the financial markets, so much so that they may have resisted pursuing criminal prosecutions against big banks, and we also know that they spent a lot of time commiserating with Wall Street figures before and during the crisis.

If Bob Diamond and Paul Tucker were having these talks about LIBOR, is it fair to wonder what else Hank Paulson and Lloyd Blankfein were talking about in the 24 discussions they had in the six days following the AIG disaster? When Paulson had a secret meeting with the entire board of Goldman Sachs in, of all places, his hotel suite in Moscow, in June of 2008? Or what other material nonpublic information was exchanged when Paulson met with a gang of hedge fund chiefs at the offices of Eton Park management in July 2008, and laid out for them a possible scenario for putting Fannie and Freddie into receivership?

Anyway, the LIBOR story is leading the front pages of most of Britain’s dailies, it’s on TV, and it’s producing blistering editorials and howls of outrage amongst politicians and activists. But as compadre Yves Smith at Naked Capitalism put it, where’s the outrage here in America?

The big story on our shores in the last few weeks has been the health care ruling, which makes sense, but then after that… what? The heat? Tom and Katie? (There’s actually a story about how Katie can wear heels again, now that she’s not married to a short person). Joe Sandusky? Nightline’s big story tonight, which is already being hyped on the net, is about how fat Chris Christie is and why the hell he hasn’t done the bypass surgery yet:
New Jersey Gov. Chris Christie opened up about his weight problem in an interview with ABC News and stressed he is "trying" to lose weight, a battle he's waged for 30 years, but said he's never considered gastric bypass surgery because it's "too risky."
"I mean, see, listen, I think there's a fundamental misunderstanding among people regarding weight and regarding all those things that go into, to people being overweight," Christie said in an interview that will air Tuesday on "Nightline."
Glad to be informed! The New York Times, meanwhile, did chime in with a house editorial yesterday, and it was appropriately somber. And there has been some coverage in the financial press.

But to me what’s missing from all of this is the “Holy Fucking Shit!” factor. This story is so outrageous that it shocks even the most cynical Wall Street observers. I have a friend who works on Wall Street who for years has been trolling through the stream of financial corruption stories with bemusement, darkly enjoying the spectacle as though the whole post-crisis news arc has been like one long, beautifully-acted, intensely believable sequel to Goodfellas. But even he is just stunned to the point of near-speechlessness by the LIBOR thing. “It’s like finding out that the whole world is on quicksand,” he says.

So as far as the stateside press goes, I’ve got to assume the cavalry is coming soon. But when?

THE LIBOR SCANDLE "IS THE LARGEST RIGGING OF PRICES IN THE WORLD BY MANY ORDERS OF MAGNITUDE" -- ECONOMIST AND CRIMINOLGIST, BILL BLACK






UK to launch inquiry into banking scandal 

Published on Jul 2, 2012 by AlJazeera

English Prosecutors in Britain are considering filing criminal charges against Barclays Bank. The UK lender is at the centre of a market manipulation scandal that could involve more than a dozen international banks. While much of the fallout has been confined to Britain - it's likely to spread overseas because Barclays manipulated a key interest rate known as libor - which is used to determine the value of financial products ranging from credit cards to ordinary loans. Al Jazeera's Laurence Lee reports from London. 


How Barclays manipulated the libor rates 

http://youtu.be/ZC_la9ar93w

Published on Jul 2, 2012 by AlJazeeraEnglish 

The Barclays Bank scandal centres around a key interest rate known as Libor. Al Jazeera's Dominic Kane reports on exactly what that is. We also speak to Bill Black, a former US banking regulator for more clarity on how this multi-million dollar fraud was perpetrated. 

Saturday, July 02, 2011

MOST GREEKS AND MANY BRITS KNOW THAT THEIR GOVERNMENT'S AUSTERITY PROGRAMS ARE FOR THE PURPOSE OF PICKING THEIR POCKETS TO PAY OFF THE GAMBLING DEBTS OF THE BIG BANKS THAT CAUSED THE ECONOMIC CRISIS. HOW MANY AMERICANS ARE AWARE THAT THIS IS WILL BE FOISTED ON THEM WHEN THE TIME COMES TO RAISE THE DEBT CEILING?






Greek & British Workers Stage Massive Strikes As Governments Push Sweeping Austerity Cuts

democracynow


Uploaded by democracynow on Jul 1, 2011

More than 750,000 British public sector workers staged a 24-hour strike Thursday in a stand-off with the government’s plans to reform public sector pensions. The reforms come as the government tries to trim its deficit and would require public workers to work longer, pay more toward their pension and receive less upon retirement. Meanwhile in Greece, thousands of workers staged a 48-hour strike and many took to the streets after the Greek Parliament approved a raft of austerity measures that include spending cuts, tax increases and privatizations as a condition for a massive bailout to avert the Eurozone’s first default. “There is a common theme to the protests that are taking place across Europe, and that is not just the public sector workers defending their pension rights, but also a generation of young people for whom quite a stark picture is being painted of their future,” says our guest Paul Mason, an economics editor for BBC Newsnight who just returned from reporting in Greece. We also speak with David Graeber, author of "Debt: The First 5,000 Years." “Most revolutions in our history have been about debt,” says Graeber. “It is a perennial tool by those who are powerful to make the victims of structural inequalities feel that it is somehow their fault.” [Original includes rush transcript]

To download the podcast, read the transcript, and for additional information about Democracy Now!, visit http://www.democracynow.org/2011/7/1/hundreds_of_thousands_of_greek_and