Member Submitted News

Oct 07 18:37

What lies ahead?

A handful of super-big banks is shaping up via mergers and favoritism. They will be under the thumb of the financial regulators. They will decide who and what will be funded. If the Fed can lend directly in the commercial paper market, it can control bank loans and ration them. It can direct investment. We are headed toward a controlled economy based on what is happening RIGHT NOW. We need not make a forecast. We need only understand the present.

Oct 07 16:47

McCain linked to group in Iran-Contra affair

Barack Obama has his William Ayers connection. Now John McCain may have an Iran-Contra connection. In the 1980s, McCain served on the advisory board to the U.S. chapter of an international group linked to ultra-right-wing death squads in Central America.

The U.S. Council for World Freedom aided rebels trying to overthrow the leftist government of Nicaragua. That landed the group in the middle of the Iran-Contra affair and in legal trouble with the Internal Revenue Service, which revoked the charitable organization's tax exemption.

Oct 07 16:43

Brazil, Argentina abandon US dollar

Brazil and Argentina have launched a new payment system in their bilateral trade, doing away with the US dollar as a medium of exchange.

The two Latin American nations started the Payment System on Local Currency (SML) on Monday following a last month agreement inked by their presidents to use local currencies in a bid to end transaction in dollars.

Oct 07 16:34

McCain’s anti-Asian sentiment

“I hate the g- -ks,” McCain said in response to a question from reporters aboard his campaign bus. “I will hate them as long as I live.”

Let me replace the cuss word in this sentence so it’s not as harsh. “I hate the Asians. I will hate them as long as I live.”

He said this February 17th, 2000, and 8 years later, has yet to apologize. In fact, he refuses to apologize, for this slur.

Oct 07 16:30

Finally [pic]...

Oct 07 16:25

John McCain's domestic terrorism problem

As John McCain continues using guilt-by-association tactics to falsely portray his political opponent as a radical terrorist sympathizer, it's worth remembering that McCain himself has a little terrorism problem of his own.

McCain's terrorism problem dates back to the early 1990s, when he sided with right-wing domestic terrorists and voted against tough new legislation cracking down on a wave of anti-choice domestic terrorism targeting women who visited abortion clinics, their doctors, and clinic staff.

Oct 07 16:11

What the Russians want in return for bailing out Iceland

But what price will the Russians demand for their bailout? A highly-placed source in Reykjavik tells Coffee House that Iceland might look kindly on requests from Russia's military to use America's former military base in Iceland. America closed its Naval Air Station at Keflavik Airport two years ago, handing back the Nato facility to the Icelandic government.

Oct 07 13:17

Robert Fisk's World: When it comes to Palestine and Israel, the US simply doesn't get it

Biden and Palin hid like rabbits from the centre of the Middle East earthquake

Saturday, 4 October 2008

Oct 07 13:14

The End of American Hegemony By Paul Craig Roberts

06/10/08 "ICH" -- -- America has become a pretty discouraging place. If Ronald Reagan was still with us, I wonder if he would again refer to the United States as a city on a hill, a light unto the world.

Oct 07 13:09

Cramer: It's a Worldwide Crash

Here it is, the dawning of the selloff that will finally put us at levels where ... we will sell off again.

For two years the credit markets have been submerged under central bank happy talk and a sense that the worries were about inflation. You can see why in the outlines of the institutions that are failing now.

The problem is the Europeans got stuck fighting the inflationary war that ended in July. Rates are ridiculously high in Europe vs. the crunching of debt that is happening and will continue to happen.

Oct 07 13:08

US Mint halts some American Eagle coin production

Unprecedented demand for precious metals and volatile markets forced the U.S. Mint to cease production for the half-ounce and quarter-ounce popular American Eagle gold coins for the rest of this year and to supply other bullion coins on an allocation basis.

Oct 07 13:06

We're on "the edge of the abyss” By Mike Whitney

06/10/08 '"ICH" -- - Years from today, when the current financial crisis is over, historians are likely to agree that it would have been far better if the Bush administration had declared a state of emergency earlier in the process so that the necessary steps could have taken to avoid a complete financial meltdown. The media could have been used to bring the American people up to date on market-related developments and educated in the bizarre language of structured finance. Knowledge is power; and power can prevent panic.

Oct 07 12:54

Judge orders Chinese Muslims freed from Gitmo

WASHINGTON (CNN) -- A federal judge has ordered the immediate release into the United States of a group of 17 Chinese Muslims who have been held in the U.S. military facility at Guantanamo Bay, Cuba, for several years.

WHY NOT FREE THEM ALL? have any charges been filed? gheesh.

Oct 07 12:52

More US ears in Israel

At a cost of US$89 million to the American taxpayers, the US Senate, with no hesitation, passed a bill that was attached by Republican Senator Joe Kyle, to the federal defense budget to deploy another sophisticated long-range radar system to Israel.

What was the rush that the US military amid the country's financial and economic crisis had to speed up the deployment of a most powerful and therefore expensive system, called AN/TPY-2 forward-based X-band, a year earlier than it was scheduled previously? The X-band system, deployed to Israel on September

Oct 07 12:46

European Crisis Deepens; Officials Vow to Save Banks (Update3)

Oct. 6 (Bloomberg) -- The credit crunch deepened in Europe as government leaders pledged to bail out troubled banks and protect depositors.~~snip~~

French President Nicolas Sarkozy, who convened the Oct. 4 meeting, called for a global summit ``as soon as possible'' to implement ``a real and complete reform of the international financial system.'' He said ``all actors'' must be supervised, including credit-rating firms and hedge funds. Executive-pay systems must also be reviewed, he said.

Oct 07 12:36

Stocks tumble as Street worries about financials

Wall Street retreats as concerns about financials overshadow Fed plan to buy corporate debt

NEW YORK (AP) -- Wall Street sank into a deeper depression Tuesday, extending its heavy losses as enthusiasm over Federal Reserve efforts to inject confidence into credit markets gave way to concerns about financial companies' balance sheets. Trading remained fractious, with the Dow Jones industrial average losing more than 300 points.

Oct 07 12:24

Brazil, Argentina abandon US dollar

Press TV
Tuesday, Oct 7, 2008

Brazil and Argentina have launched a new payment system in their bilateral trade, doing away with the US dollar as a medium of exchange.

The two Latin American nations started the Payment System on Local Currency (SML) on Monday following a last month agreement inked by their presidents to use local currencies in a bid to end transaction in dollars.

Oct 07 11:56

Thursday is "D-Day" . . . . . as in Derivatives

This Thursday, derivatives of Lehman Brothers get settled. With the huge default that took place when Lehman filed Bankruptcy, credit default swaps are going to have to pay out billions.

Oct 07 11:54


The bottom line to all this is simple: The U.S. dollar is going to be intentionally exhausted into worthlessness. Anyone holding any assets denominated in "dollars" such as Checking accounts, Savings accounts, IRA's, 401-K's, Pensions, Stocks, Bonds, Money market funds, will wake up one day to find all their "dollars" are no longer "money."

Oct 07 10:53

China cancels, postpones military exchanges with US: Pentagon

China has canceled or postponed several military exchanges with the United States in protest against a proposed 6.5 billion dollar arms sale to Taiwan, a Pentagon spokesman has said.

“The Chinese reaction is unfortunate and results in missed opportunities,” said Major Stuart Upton.

Upton said senior level visits and exchanges involving humanitarian assistance, and disaster relief issues that had been scheduled to take place before the end of November, were canceled or postponed.

Oct 07 10:47

The Do-Something Congress by Ron Paul

It has not been a good week for the Republic. It took quite a bit of trampling of the Constitution, but the bailout bill passed, as I suspected it would.

The bailout failed the first time it was brought to the House. Undaunted, the Senate pressed on by attaching the bailout as an amendment to another House-passed bill that was pending in the Senate. The new bailout version had new taxes, so according to the Constitution it should not have originated in the Senate.

Oct 07 10:39

Credit Crisis Actions Risk Collapse of European Monetary Union

Many of us in the US are focused on our own woes. But this is a global credit crisis. In today's Outside the Box, we take a look at the currency markets, which are in an historic upheaval and also look at what is going on in Europe. I suspect that Europe is in for a period of much distress, as the world begins to deleverage That is why one government after another will back the deposits of banks within their countries, for otherwise capital will flee to countries like Ireland and Germany which ARE guaranteeing the deposits for all banks in their borders. .

Oct 07 10:36

Leading geneticist Steve Jones says human evolution is over

Human evolution is grinding to a halt because of a shortage of older fathers in the West, according to a leading genetics expert.

Fathers over the age of 35 are more likely to pass on mutations, according to Professor Steve Jones, of University College London.

Speaking today at a UCL lecture entitled “Human evolution is over” Professor Jones will argue that there were three components to evolution – natural selection, mutation and random change. “Quite unexpectedly, we have dropped the human mutation rate because of a change in reproductive patterns,” Professor Jones told The Times.

Oct 07 09:23

Exclusive: Rumsfeld Updated Army's Continuity of Operations Plan before 9/11

Another brick in the now massive wall of evidence that 911 was an inside job.

Oct 07 08:13

Protestors Surround Capital, Shut Off Power and Trap Legislators (in Thailand)

In a day of street battles that left more than 100 people injured, anti-government protesters surrounded the Thai Parliament Tuesday, trapping hundreds of members inside through the afternoon.

Prime Minister Somchai Wongsawat escaped over a back fence!

Oct 07 06:51

Chavez offers free cars for gas-guzzlers

Give up your gas-guzzler and get a free car. That's President Hugo Chavez's offer to Venezuelans.

Chavez says he plans to start a program next year that will give away cars running on less-polluting natural gas to people who turn in old cars that consume "too much gasoline."

The socialist leader says he'll even throw in a year of free fuel - though that's a relatively minor bonus in oil-rich Venezuela, where gasoline goes for 12 cents a gallon (3 cents a liter).

Oct 07 06:48

'Tis the Season of Election Dirty Tricks: Scaring Student Voters

Election officials and watchdog groups are bracing for the wave of sneaky or suspicious phone calls, leaflets and emails that typically hit battleground states in the final 30 days of the presidential campaign.

Young voters at Drexel University in Philadelphia, Penn. have already been targeted, with students reporting that flyers have been posted around campus warning that undercover police will be at the polls on Election Day looking to make arrests.

Oct 07 06:41

Vista R.I.P.

Vista is awful. Everyone knows it, including Microsoft, and now Microsoft's actions have made it clear that Vista is on its way to the Microsoft junkyard with such similar failures as Windows ME and Microsoft Bob.

You don't have to believe me. Just look at what Microsoft has been doing. First, Microsoft started fast-tracking Vista's successor, Windows 7. Recently, we discovered that Windows 7 alpha will be coming to developers this October.

Oct 07 06:32

China cuts military ties with the US

China has abruptly cancelled several military agreements with the United States in protest at a decision by the US to sell $6.5 billion (£3.7 billion) of arms to Taiwan.

Oct 07 06:30

Turkey threatens Iraq raid after deadly Kurdish rebel attack

Turkish Prime Minister Recep Tayyip Erdogan threatened on Tuesday to launch a raid into northern Iraq as warplanes bombed Kurdish rebel targets across the border after a deadly attack killed 17 troops.

Describing Turkey's position as one of self-defence, Erdogan said his government was determined to crush the outlawed Kurdistan Workers' Party (PKK), using all available means, including a possible cross-frontier operation.