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Posts tagged ‘Barack Obama’

Facebook isn’t our friend

by David Cronin

A few days ago, I was told by the organisers of a “social media” festival that the hashtag was my “new best friend“. As I’ve never hugged a hashtag or cried on the shoulders of one, I felt it was important to question this “wisdom”.

Like millions of others, I’m addicted to Facebook and, to a lesser degree, Twitter. I check these websites so frequently that I often forget they are owned by vast corporations.

Some of these firms’ activities are inherently anti-democratic.

Facebook’s Brussels office is headed by Erika Mann, a former German member of the European Parliament. She has long fought to enable the interests of big business triumph over those of ordinary people.

During her 15 years as an MEP, Mann continuously advocated that the European Union should liberalise its trade with the United States.

At one point, it seemed that her calls were being ignored by political leaders on both sides of the Atlantic. All that changed in February this year, when Barack Obama expressed his support for such an agreement during his State of the Union address. Talks aimed at reaching a very broad trade and investment deal were formally launched in July.

Now wearing her Facebook hat, Erika Mann is still extolling the apparent virtues of “free” trade at every available opportunity.

In April, she spoke at a conference in Dublin, where Facebook’s international headquarters are located. Mann argued that it would be “extremely important” for an eventual deal to make the standards faced by internet companies in the EU and US “more…. coherent”.

full article at source:http://blogs.euobserver.com/cronin/

comment:

DSCN0872

A Well written piece, thank you!

I Have long left Facebook or I have been frozen out, the fact is I cannot gain access even though I have tried to contact them here in Ireland and as mentioned in the above article there HQ in Dublin it remains impossible to contact them .But then they are not known to be user friendly: As a multi corporation using the TAX Haven that is Ireland, this company is forcing the Irish taxpayers pay the Taxes they should be paying! For every euro these corporate leeches don’t pay into the coffers of our corrupt and lying Government, we the people must stump up the difference! No wonder our natural resources are been plundered!

Wake up Ireland these multi National corporations are nothing more that leaches sucking us dry!

THE STRUGGLE FOR MONEY

Excerpt: “The Struggle for Money” by H. M. Murray 1957.

 

The 4 Step Social Credit Solution to the World’s Financial Crisis:

 

1.             Set up a National Credit Account. At present we have only a National Debt Account; the banks having usurped all our National Credit—to create our National Debt!

 2.             Institute a National Dividend;

 3.             Finance New Production by drafts on the National Credit Account, not out of Savings; and

 4.             Allow a Just Price Discount on all personal purchases, out of income, for final use or consumption—     to adjust book prices to actual incomes.

                (This counters inflation and guides and motivates society      as a whole to increase or decrease, as           required, production).

 

 Reference:    http://www.scribd.com/doc/171650693/Struggle-for-Money-by-H-M-Murray-Final-Edit

 

Growth focus is mending US while austerity stalls Europe

By David Mc Williams

WHOEVER has won the US election, he will be reasonably assured that he will preside over an economy that is on the mend. Last weekend I spoke to someone who knows Obama well and is a big Democratic fundraiser in California. His assessment is that Obama knows that the economy is moving in the right direction but he also knows that the next president will gain credit and this is one of the factors driving him as he would be appalled if Romney took the economic plaudits.

Whether this is a fair assessment of the president’s state of mind, it is significant that the US economy, after a few years on the ropes, is recovering. One way to look at the last four years of economic policy in the US is that a battered, bruised and very sick economy has been nursed back to health by a central bank and a government that is putting growth first and is worrying about austerity later.

To achieve this, the central bank has kept interest rates as close to zero as possible in order to ease the severe deleveraging that has gripped the US since the property/credit bubble burst in 2008/9. In tandem, where low interest rates have not worked because the people have too much debt and the banks too much bad debt, the Federal Reserve has engaged in what is called “quantitative easing”, buying up collateral from the banks and giving the banks money in return………………………………

full article at source: http://www.davidmcwilliams.ie/2012/11/08/growth-focus-is-mending-us-while-austerity-stalls-europe?utm_source=Website+Subscribers&utm_campaign=bbd0819686-08112012&utm_medium=email

M. MacDonald & C. Whitestone ~ The Invisible Experiment With Money And Gold

The markets are completely bought and paid for, corrupt,  and manipulated … “a farce”. We are in a corruption bubble, the largest corruption bubble the world has ever seen in modern history and perhaps in all history. This is the first time that the world has been united within instant communication, instant information, instant deposit or receipt of funds into any bank account or financial institution. Michael says: “I believe that we are already a one world order. I actually think we are already there, electronically certainly. I also think that a lot of the debates, wars and conflicts are manufactured, very similar to the presidential debates which are also manufactured. I believe we live in a one-world system, which financially  is already completely manipulated.”

full article at source:  http://shiftfrequency.com/m-macdonald-c-whitestone-the-invisible-experiment-with-money-and-gold/

Has Merkel Just “Blinked” and Saved the Euro Project?

Barack Obama, President, talked with David Cam...

Barack Obama, President, talked with David Cameron, Prime Minister, and Angela Merkel, Chancellor, at the 36th G8 summit in Muskoka District Municipality, Ontario Province on June 25, 2010. (Photo credit: Wikipedia)

By: Christopher_Quigley

A picture tells a thousand words. The chart below shows just how grave the situation in Spain is. Europe is in crisis and the euro is in danger of falling apart.

Things have become so serious that President Obama has intervened and has asked  British Prime Minister David Cameron to travel to Berlin today and put an ultimatum to Chancellor of Germany Angela Merkel: “act before it is too late”.

It looks like following such pressure that she has finally blinked and altered her former “stone walling” policy. It looks like Spain will be granted a bank bailout without giving up the type of sovereign authority demanded of Ireland and Portugal and Greece. According to news reports:

1.            ” Brussels’ officials are examining the possibility of paying bailout funds directly to the Spanish banking rescue fund rather than to the Spanish government. And Germany’s Angela Merkel is looking for a way to enable Spain’s reluctant premier Mariano Rajoy to access eurozone rescue funds while not having to impose new economic reforms.”

2.             “Unnamed German officials told Reuters that contingency plans were under way, with lawyers studying treaties, for ways to provide funding without a full-on programme.”

3.             “Derek Scally of the Irish Times reports that British Prime Minister David Cameron is expected to raise the issue with chancellor Angela Merkel when he travels to Berlin today. Mr. Cameron is expected to pass on to the German leader the central message of a phone call he had yesterday with US president Barack Obama on “an immediate plan for the solution of the crisis and restoration of market trust”.

This departure by Merkel, if it proves to be true, will be a game changer. Confirmation will be great news for world stock markets.

It looked like the Spanish banking system was on the verge of collapse. Spanish officials were  refusing to request an IMF/EU bailout along the lines forced on Greece et al even though the bond market had effectively closed its doors to Madrid. The premier Mariano Rajoy was of the opinion that additional austerity that such a bailout would demand would cause political and social chaos throughout the Iberian Peninsula. With the bond market defunct Spain’s only alternative would have been to print its own currency. This recourse would only have been possible if Spain left the euro. Such an unthinkable possibility motivated George Soros to state the following at the Festival of Economics at Trento Italy last week:

“It is impossible to predict the eventual outcome. As mentioned before, the gradual reordering of the financial system along

National lines could make an orderly breakup of the euro possible in a few years time and, if it were not for the social and political dynamics, one could imagine a common market without a common currency. But the trends are clearly non-linear and an earlier breakup is bound to be disorderly. It would almost certainly lead to a collapse of the Schengen Treaty, the common market, and the European Union itself. ( It should be remembered that there is an exit mechanism for the European Union but not for the euro.) Unenforceable claims and unsettled grievances would leave Europe worse off than it was at the outset when the project of a united Europe was conceived.

But the likelihood is that the euro will survive because a breakup would be devastating not only for the periphery but also for Germany. It would leave Germany with large unenforceable claims against the periphery countries. The Bundesbank alone will have over a trillion euros of claims arising out of Target 2 by the end of the year (see note below), in addition to all the intergovernmental obligations.  And a return to the Deutschemark would likely price Germany out of its export markets not to mention the political consequences. So Germany is likely to do what is necessary to preserve the euro – nothing more. That would result in a eurozone dominated by Germany in which the divergence between the creditor and debtor countries would continue to widen and the periphery would turn into permanently depressed areas in need of constant transfer payments. That would turns the European Union into something very different from what it was when it was a “fantastic object” that fired people’s imaginations. It would be a German empire with the periphery as the hinterland.”

Today it looks like Angela Merkel has heeded Mr. Soros’ advice and gone for the “least worst” option. Should she manage to convince her political backers to allow future bank bailouts without sovereign interference Spain will probably agree to stay within the euro. Such a mechanism would also suit Italy should the need arise. The only problem now is that the fund required to solve this problem will need to be in the magnitude of 2 – 3 trillion euros. This is why I think President Obama and David Cameron have decided to get directly involved. The game now is only open to high rollers and the stakes could not be higher. We certainly are living through historic days.

Author’s Note: TARGET2 is the real-time gross settlement (RTGS) system owned and operated by the Eurosystem. TARGET stands for Trans-European Automated Real-time Gross settlement Express Transfer system. TARGET2 is the second generation of TARGET.

Payment transactions are settled one by one on a continuous basis in central bank money with immediate finality. There is no upper or lower limit on the value of payments. TARGET2 mainly settles operations of monetary policy and money market operations.

TARGET2 has to be used for all payments involving the Eurosystem, as well as for the settlement of operations of all large-value net settlement systems and securities settlement systems handling the euro.

TARGET2 is operated on a single technical platform. The business relationships are established between the TARGET2 users and their National Central Bank. In terms of the value processed, TARGET2 is one of the largest payment systems in the world.

Source: European Central Bank website.

Comment:

I welcome this excellent summary of the current situation in Europe and for the first time I whole heartily agree with sums you have come up with another 2.5 to 3 trillion Euros) that will be required by Germany to save the euro and yes you are right it’s going to have to be Germany that has to put its hand into its pockets or else walk away from the whole mess!

Well done and keep up the great work !

Internet Reformation Is EU Reality?

English: President Barack Obama and First Lady...

English: President Barack Obama and First Lady Michelle Obama are welcomed by German Chancellor Angela Merkel and her husband, professor Joachim Sauer, to Rathaus in Baden-Baden, Germany. Deutsch: Bundeskanzlerin Angela Merkel und ihr Ehemann Joachim Sauer begrüßen US-Präsident Barack Obama und seine Frau Michelle Obama beim Staatsempfang auf dem Marktplatz Baden-Baden. (Photo credit: Wikipedia)

by Staff Report

A defiant Angela Merkel is doing no more than defending the interests of her own electorate … As the leader of a democratic state, what else should she be expected to do? Would Mr Cameron, who is busily assuring us that he will always put the needs of this country first, be chivvied into throwing over the interests of his own citizens for the sake of another national population that has come to grief largely as a consequence of its own misjudgments? Last week, he called for the “pooling [of] fiscal sovereignty” among the eurozone countries. Would he be willing to give up his Government’s right to determine its own tax and spending policy?

And would Mr Obama reverse the fundamental principles of the United States Constitution for the sake of a short-term solution to a global economic problem? (Well, actually, maybe he would. Given his egomaniacal tendency to regard the Supreme Court as a turbulent nuisance when it obstructs his plans, he might not be the best exemplar of constitutional probity.)

In truth, if Mrs Merkel’s reluctance to churn out euros on the Bundesbank printing presses is based on anything other than the straightforward illegality of such a step in German terms, it is probably rooted in more recent associations than Weimar. East Germany is the spectre that hovers over this debacle: the Soviet model of a phoney currency that is manufactured to meet political requirements and which – at the point of national collapse – may simply be exchanged, as the Ostmark was, at an arbitrary nonsense rate in order to avoid pauperising an entire people. That is where Mrs Merkel (and the rest of us) might well see the euro heading if the “decisive action” merchants get their way: not just toward dangerously inflationary levels, but to the status of a fictional currency that can be expanded at will to prop up an ideological delusion.

full article at source: http://www.thedailybell.com/3906/Internet-Reformation-Is-EU-Reality

The 2012 Outlook for The Netherlands and Europe

By Ernst,

The year of which the Maya’s said, it will bring the end of the world as we know it. And although I neither believe the Maya’s, nor Nostradamus, the Jehova’s witnesses or the position of the vermicelli in my soup bowl after eating, 2012 will be a decisive year.

It will be the year that either decides whether we have a W-shaped recovery, or an L-shaped (L for Long) recession aka depression. And it will be a year in which we hope that the leaders will show their true leadership, strenght and wisdom, but in which we fear their selfishness, indecisiveness and stubbornness close to stupidity.

Like many other newspapers and bloggers I will make an Outlook for 2012, based on a number of topics. Although such an outlook is the (non-)scientific form of ‘reading tealeaves’, it might help you to organize your own thoughts on the economy of the coming year.

Today the first part of this outlook will be issued and tomorrow the second part. As this will be a bearish outlook in general, I hope to be wrong in most cases. But I’m afraid I will not be.

Leadership

As mentioned earlier, 2011 was not the year in which our leaders surprised us with their leadership, strenght and wisdom. This was the year of: everybody for themselves and God for us all in Europe and Democrats vs. Republicans (Civil War v1.1) in the US.

To be honest: I’m not very hopeful that this behavior of EU and US politicians will change in 2012 and that the true leaders will stand-up. If the situation around the Euro and the PIIGS remains fairly stable and doesn’t become much more desperate at once, the European leaders will continue with only paying lip service to the European cause. They will go on with pleasing and serving their (more and more xenophobic and autistic) grassroots instead, while ignoring the European big picture.

In that case the financial markets will continue firing warning shots and the Euro will remain under continuous pressure, without breaking really. Europe will run a substantial risk of getting into a situation of stagnation and a long period of minimal growth that might last for ten years or even longer (the Japan scenario).

As we speak, President Barack Obama is busy with trying to lift the debt ceiling in the United States, as he did before on a number of occasions in 2011. And every time this led to a brawl between the Democrats and the Republicans, as both parties tried to get their portion of pork in the emergency laws that were necessary to fix the debt ceiling. By the way, until now the Democrats have been less succesful in saving the social security system than the Republicans have been in saving their tax cuts for the richest 1% of the American population. This is a bad omen for American leadership, I guess.

full article at source:  http://blogs.minyanville.com/ernst-labruyere/

Comment:

Batten down the hatches

Ernst,

A great article and well thought out and presented I am afraid I am not so optimistic on the economic outcome for Ireland and My second home Germany. I believe the contraction of the economies of the PIGS states will have a negative effect on the German economy. This is already showing as the German economy  is set to contract again by year’s end  .The economic forecasts for Irelands “growth” has been halved for next year and I believe that it will prove to be a year of contraction of about -1.5%-2.5%.The heavy burden of stealth taxes and incompetence of our politicians eager to serve the banker-dictatorship is going to destroy any hope of a recovery in the domestic property market and our skilled workers are heading  out of Ireland before all their savings are swallowed up in just trying to pay their living expenses. The cost of living here in Ireland is outrageous high and we must expect that this cost will have to be drastically cut to come anyway near the average European level. Example I am paying for a one bedroom flat in the town I am living 400 Euros including heating and management fees. The same flat here in Ireland (across the road) a southside D4 similar place would cost at least 750.-900 Euros including management fees.

Still I hope I am wrong and we have a rebound in the economy despite all the Austerity and new taxes on citizen’s homes, wage deductions and job losses .maybe we will all win the lottery and find massive oil wealth off the Irish coast, OH we did and our corrupt politicians gave it all away to Shell

Happy New Year to one and all ! Batten down the hatches

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