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Turkey Set To Block YouTube Momentarily, After Google Refuses To Yank Clips Exposing Prime Minister | Zero Hedge

Turkey Set To Block YouTube Momentarily, After Google Refuses To Yank Clips Exposing Prime Minister | Zero Hedge.

As was reported earlier, the Turkish premier, embroiled in what increasingly appears a career terminating corruption and embezzlement scandal (it is not exactly clear yet just how involved the CIA is in this particular upcoming government overthrow), blocked Turkey’s access to Twitter last night, hours after vowing to “destroy twitter.” The idiocy of this escalation against dissemination of information in the internet age needs no comment. Well maybe one. This is what we said in our post from this morning: “since Turkey will certainly not stop at just Twitter, here is what is coming next: “Last week, Erdogan said the country could also block Facebook and YouTube.” It now appears that at least half of this threat is about to materialize because moments ago Google just announced that it would not remove a previously uploaded video, one in which Erdogan tells his son to hide money from investigators (one which can be seen here), and which Erdogan demanded be pulled from Google (seemingly unaware that by doing so he simply made sure that everyone saw it). This means that within days, if not hours, Turkey will likely block Google-owned YouTube, if not Google itself.

From the WSJ:

Google Inc. has declined Turkish government requests to remove YouTube videos alleging government corruption, people familiar with the matter said, the latest sign of resistance to a crackdown against social media led by Turkish Prime Minister Recep Tayyip Erdogan.

Turkish authorities have in recent weeks asked Google to block the videos from YouTube’s Turkish website, the people familiar with the matter said. But amid a national scandal over corruption allegations, Google refused to comply because it believes the requests to be legally invalid, the people added.

Google’s refusal to remove videos raises the specter that Turkey could move to block access to YouTube within the country, after blocking the microblogging service Twitter Inc. late Thursday night. Both sites have been central conduits for allegations of corruption against Mr. Erdogan’s government and faced public threats of a blackout by Mr. Erdogan. 

Some people within Google had feared a YouTube blackout could be imminent, after the Twitter takedown, the people familiar with the matter said. “We feel an immediate threat,” one of the people said.

Sadly in Erodgan’s berserk regime, this is not only possible but very probable.

Still, one wonders why Google would not relent in this particular case, after recent revelations that the major internet companies have cooperated over the years with the NSA, contrary to their vocal denials in public. Surely, compromising with its principles and ethics would be nothing new to a company which once swore to “do no evil.” Especially since Google realizes quite well by not complying with the government’s demand it is making the overthrow of Erdogan’s regime, violent or otherwise, that much more likely.

Either way, even without Google’s aid it already appeared that Erdogan’s days are numbered when not only the opposition but the figurehead president himself condemned the Twitter blockage.

Opposition politicians decried the move as that of a dictatorship. Turkish President Abdullah Gul, who has a largely symbolic role, also came down against the blackout, using Twitter to write that “wholesale shuttering of social media platforms cannot be approved.”

Alas, with the government in full out despotic mode, however one which would work in the 1970s but certainly not in an age of instant information exchange, further escalations of locking out internet provides will certainly accelerate until finally the information and entertainment starved country says enough.

We eagerly look forward to see which particular pro-Western agent is groomed to take Erdogan’s place. After all remember: those Qatari gas pipelines that in a parallel universe, one without Putin, would have already been transporting nat gas under Syria, would enter Europe under Turkey.

Which makes one wonder – just what is the real goal here?

As for Turkey, we urge the population, largely removed from all Machiavellian moves behind the scenes, to catch up on their favorite YouTube clips: they will shortly disappear for good.

Turkey Set To Block YouTube Momentarily, After Google Refuses To Yank Clips Exposing Prime Minister | Zero Hedge

Turkey Set To Block YouTube Momentarily, After Google Refuses To Yank Clips Exposing Prime Minister | Zero Hedge.

As was reported earlier, the Turkish premier, embroiled in what increasingly appears a career terminating corruption and embezzlement scandal (it is not exactly clear yet just how involved the CIA is in this particular upcoming government overthrow), blocked Turkey’s access to Twitter last night, hours after vowing to “destroy twitter.” The idiocy of this escalation against dissemination of information in the internet age needs no comment. Well maybe one. This is what we said in our post from this morning: “since Turkey will certainly not stop at just Twitter, here is what is coming next: “Last week, Erdogan said the country could also block Facebook and YouTube.” It now appears that at least half of this threat is about to materialize because moments ago Google just announced that it would not remove a previously uploaded video, one in which Erdogan tells his son to hide money from investigators (one which can be seen here), and which Erdogan demanded be pulled from Google (seemingly unaware that by doing so he simply made sure that everyone saw it). This means that within days, if not hours, Turkey will likely block Google-owned YouTube, if not Google itself.

From the WSJ:

Google Inc. has declined Turkish government requests to remove YouTube videos alleging government corruption, people familiar with the matter said, the latest sign of resistance to a crackdown against social media led by Turkish Prime Minister Recep Tayyip Erdogan.

Turkish authorities have in recent weeks asked Google to block the videos from YouTube’s Turkish website, the people familiar with the matter said. But amid a national scandal over corruption allegations, Google refused to comply because it believes the requests to be legally invalid, the people added.

Google’s refusal to remove videos raises the specter that Turkey could move to block access to YouTube within the country, after blocking the microblogging service Twitter Inc. late Thursday night. Both sites have been central conduits for allegations of corruption against Mr. Erdogan’s government and faced public threats of a blackout by Mr. Erdogan. 

Some people within Google had feared a YouTube blackout could be imminent, after the Twitter takedown, the people familiar with the matter said. “We feel an immediate threat,” one of the people said.

Sadly in Erodgan’s berserk regime, this is not only possible but very probable.

Still, one wonders why Google would not relent in this particular case, after recent revelations that the major internet companies have cooperated over the years with the NSA, contrary to their vocal denials in public. Surely, compromising with its principles and ethics would be nothing new to a company which once swore to “do no evil.” Especially since Google realizes quite well by not complying with the government’s demand it is making the overthrow of Erdogan’s regime, violent or otherwise, that much more likely.

Either way, even without Google’s aid it already appeared that Erdogan’s days are numbered when not only the opposition but the figurehead president himself condemned the Twitter blockage.

Opposition politicians decried the move as that of a dictatorship. Turkish President Abdullah Gul, who has a largely symbolic role, also came down against the blackout, using Twitter to write that “wholesale shuttering of social media platforms cannot be approved.”

Alas, with the government in full out despotic mode, however one which would work in the 1970s but certainly not in an age of instant information exchange, further escalations of locking out internet provides will certainly accelerate until finally the information and entertainment starved country says enough.

We eagerly look forward to see which particular pro-Western agent is groomed to take Erdogan’s place. After all remember: those Qatari gas pipelines that in a parallel universe, one without Putin, would have already been transporting nat gas under Syria, would enter Europe under Turkey.

Which makes one wonder – just what is the real goal here?

As for Turkey, we urge the population, largely removed from all Machiavellian moves behind the scenes, to catch up on their favorite YouTube clips: they will shortly disappear for good.

Oil Supply and Demand Forecasting

Oil Supply and Demand Forecasting 

Activist Post: TSA Threatens Producer of Parody Video: Hilarity Ensues

Activist Post: TSA Threatens Producer of Parody Video: Hilarity Ensues.

Youtube

2013 Greatest Hits: Presenting The Most Popular Posts Of The Past Year | Zero Hedge

2013 Greatest Hits: Presenting The Most Popular Posts Of The Past Year | Zero Hedge.

The fifth anniversary of Zero Hedge is just around the corner, and so, for the fifth year in a row we continue our tradition of summarizing what you, our readers, found to be the most relevant, exciting, and actionable news of the year, determined objectively by the number of page views. Those eager for a brief stroll down memory lane of prior years can do so at their leisure, by going back in time to our top articles of 200920102011 and 2012. For everyone else, without further ado, these are the articles that readers found to be the most popular posts of the past 365 days.

  • In 25th place, with just over 100k reads, was the extended profile of the puppetmaster of the biggest geopolitical event of 2013, the false flag-driven Syran conflict which nearly escalated into the world’s first YouTube “justified” world war pitching the US-led west against the Russia-led east, the Saudi intelligence chief: Prince Bandar, exposed in “Meet Saudi Arabia’s Bandar bin Sultan: The Puppetmaster Behind The Syrian War.” The war was avoided with a last minute gambit by Putin, which lead to a historic detente between the US and Iran, as well as an unprecedented breakdown in US relations with its long-time middle east allies Saudi Arabia and Israel. Look for the Middle East to make geopolitical headlines in the new year since the underlying issue – Europe’s dependence on Gazprom – remains entirely unresolved.
  • The 24th most popular article hardly needs an explanation: “The Chinese Don’t Want Dollars Anymore, They Want Gold” – London’s Gold Vaults Are Empty: This Is Why.” The only comment here is that like above, the trend of gold’s transfer from West to East, started in earnest in late 2012, and peaking in 2013, is sure to continue in 2014 when the liquidation of paper gold in Western capital markets will afford Chinese buyers with ever more attractive prices at which to purchase physical gold
  • In 23rd spot an “Unidentified Navy Officer summed it all up” when he said that “I didn’t join the navy to fight for Al Qaeda in a Syrian civil war.” It is understandable why over 106,000 people agreed with the message
  • The 22nd most popular article looked at “What Happened The Last Time We Saw Gold Drop Like This?” which compared the fall in the price of gold in 2013 to previous historic occasions, most notably the months just before the collapse of Lehman. For now, courtesy of the $170 billion in liquidity injected by the Fed and the BOJ, “this time has proven different.” But with the Fed now tapering, how much longer will the illusion persist? We, like everyone else, look to 2014 for the answer.
  • With 108k views, the 21st most read post of 2013 revealed the “Photos And Video Of the Boston Bombing Suspects“, culminating the most violent terrorist event in years, and one which brought back vivid memories of the events from September 11
  • It may seem like a distant memory now, but the shocking announcement from mid-March in which Cypriot deposits were confiscated without a warning, reverberated across Europe and all insolvent banking systems, especially since it is now the blueprint of how banks will impair depositors going forward. Then again, with over 112k reads of our summary “For Everyone Shocked By What Just Happened… And Why This Is Just The Beginning” we reminded our readers that the deposit confiscation event of 2013 was predicted on these pages nearly two years earlier, and explained why, indeed, this is just the beginning of the great balance sheet rebalancing. For now Europe has managed to hide its hundreds of billions in bad loans under the couch; 2014 will be a different story. Look for the Cyprus “blueprint” to see a much wider acceptance in the coming year.
  • In 19th spot, mother nature reminded everyone with a “Stunning Time-Lapse Video Of 2-Mile Wide Oklahoma Tornado” that despite their sense of omnipotence, the central planners better pray each and every day that in a world priced to beyond perfection, that there are no material natural disasters. Because 10 out of 10 times, a liquidity tsunami generated from a central bank’s printer is powerless to withstand a natural one, as the Fukushima catastrophe reminds us each and every day with headlines of its ever deteriorating radiation “containment.”
  • A long-time favorite of readers, Kyle Bass’ Japan thesis came one step closer to fruition when earlier this year Japan went all in on its great reflation experiment, described in “Kyle Bass Warns The ‘AIG’ Of The World Is Back“, a presentation seen by over 114K readers. So far Abenomics has been a failure with wages contracting, import food and energy prices soaring, a record trade deficit (yes, Abenomics was supposed to boost net exports), and of course Fukushima in the background, but for now everyone has a rampaging Nikkei to be easily distracted by. With Abe’s popularity finally tumbling, will his second tenure as Prime Minister be cut short, and would his departure finally force Japan to cross the event horizon of no return? This is but another question which we hope 2014 will answer.
  • In 17th spot, we revealed some very disturbing trends in US energy consumption with “These Charts Better Not Reflect The True State Of The US Economy.” Because while the shale revolution may have revealed a (transitory) marginal source of oil, what remains unknown is why demand for energy in the US economy is tumbling in parallel. Unless, of course, the narrative about a US recovery has been a lie from the beginning…
  • With 121k reads, in the 16th top spot another post that needs no explanation was “Stunning Images From China: Ten Thousand People Waiting In Line To Buy Gold“. Perhaps the only article that could beat this one is “Ten thousand hedge fund managers waiting in line to sell GLD”
  • There are stereotypes about others, and then there are stereotypes about America. Which perhaps explains why over 121k people eagerly read “10 Things Most Americans Don’t Know About America.” We can only hope they learned something.
  • It may be forgotten now, but the biggest story of early 2013 was the Bundesbank’s shocking announcement in mid-January that it would proceed to repatriate some 700 tons of its gold held in central bank vaults in New York and Paris. Of course, the events described in “It Begins: Bundesbank To Commence Repatriating Gold From New York Fed” and read by 127k people, could be seen coming by Zero Hedge readers from a mile away: after all it was this website that repeatedly warned in late 2012 about the trials and tribulations that had surrounded the official German gold hoard. We can only hope that we were in some part responsible for the Buba’s correct decision to repatriate its gold. Then again, as we updated last week, having collected only 37 tons of gold in one year (out of 700), Germany will really have to pick up the pace if it hopes to have recourse to its hard currency before it is no longer a matter of convenience but one of survival.
  • The 13th top article of the year was the release of the list with “132 Names Who Pulled Cyprus Deposits Ahead Of “Confiscation Day.” It appeared the Cyprus deposit confiscation was not a complete secret to everyone, but then again the Animal Farm “new normal” justice in which some are more equal than others is hardly a surprise to anyone these days.
  • And speaking of confiscation, the 12th most read article of 2013, with 131k views was “Poland Confiscates Half Of Private Pension Funds To “Cut” Sovereign Debt Load.” It would appear that wealth transfer, first voluntary and then, not so much, will be an increasingly prevalent theme of the “recovery”…
  • But the biggest stunner in this category was the impromptu announcement itself when on March 16, “Europe Does It Again: Cyprus Depositor Haircut “Bailout” Turns Into Saver “Panic”, Frozen Assets, Bank Runs, Broken ATMs.” Don’t worry though: Europe is now fixed, it is recovering, and, if one believes the continent’s unelected leaders, all shall forever be well. We are confident 2014 will show otherwise.
  • The 10th most read article in 2013 dealt with the bedrock of the New Normal – the dollar’s reserve currency status, and rather, its gradual disintegration as China increasingly makes itself heard. It made itself heard loud and clear to the 142k readers who clicked on “Thanks, World Reserve Currency, But No Thanks: Australia And China To Enable Direct Currency Convertibility.” The loss of USD-reserve status will be yet another theme to keep a close eye on in 2014 and onward.
  • Showing just how reliant on welfare the US has become was top article #9 in which a leaked USDA memo hinted of a “Foodstamp Program Shutdown Imminent” which grabbed the attention of 148k readers. For now SNAP as it is better known has been merely “tapered”, not fully shut down, although ensuing Walmart stampedes driven by EBT card glitches provided a glimpse of just had bad things could be if indeed nearly 50 million Americans suddenly found themselves without government backstops
  • The troubles of the poor were hardly an issue for the 8th most popular article of 2013 in which we asked if “The Russians Have Already Quietly Withdrawn All Their Cash From Cyprus?” Once again it was the middle class that got shafted, while those who could fly in and out on private jets appear to have gotten away unscathed. This is certainly the prevailing theme of the past five years and one which will accelerate into the future.
  • 152k people read the breaking news from April when “Large Explosions Reported At Boston Marathon; Numerous Injuries And Casualties.” The focal point of all watercooler talk for the next several weeks, the analogies to terrorist attacks in the past were unavoidable even if the motivations behind the attacks turned out to be far less nefarious and organized than initially feared.
  • 2013 was the year in which the largest US city (to date) filed bankruptcy. However it was “25 Facts About The Fall Of Detroit That Will Leave You Shaking Your Head” that was read by 154k people, that made this the 6th most popular article of 2013.
  • 2013 was also the year in which the stock market finally took out its previous, 2007 highs, driven entirely by the unprecedented expansion of both the Fed’s and the Bank of Japan’s balance sheets. What over 163k found curious, however, were the other economic comparisons to “The Last Time The Dow Was Here…” Needless to say, there is nothing in the economy that would justify a market at the current levels, or even levels far lower, if it were only up to the economy. Luckily, there Fed is always there to lend a helping hand. And what can possibly go wrong…
  • 2013 was not only the year of the Fed’s QEternity: it was also the year in which Japan went all in with its own reflation experiment. However, all will be for nothing unless the troubling facts revealed in “Why Have Young People In Japan Stopped Having Sex?” remain unresolved. Because at its core, Japan’s crisis is a demographic one, and at the current pace of social aging, there will be no Japan left in several decades. Unfortunately for Kuroda, he can’t print babies.
  • The third most popular article of 2013 was posted almost exactly a year ago, when it “Put America’s Tax Hike In Perspective.” Over 171k people realized just how meaningless in the grand scheme of things was America’s grand bargain achieved last year at this time, over much stock market huffing and puffing. Then again, the fact that all major decisions in the US are put in the can that is later kicked down the street is also no news to anyone. The only thing in the here and now is theatrics, theatrics and more theatrics…
  • The second most popular post of 2013, with nearly 200k reads, was our succinct summary of the US “recovery” laid out in “People Not In Labor Force Soar By 663,000 To 90 Million, Labor Force Participation Rate At 1979 Levels.” We are happy that by now everyone has finally understood that plunging unemployment at the expense of a collapsing work force is nothing to be proud about.
  • And in the top spot, with nearly 300k reads, our most read article was the satirical, sarcastic look at the Egyptian counterrevolution titled “Egyptians Love Us For Our Freedom.” Turns out…they don’t. But they certainly appreciate the irony of two-faced, hypocritical US foreign policy which was humiliated and left in tatters both in Egypt and in every other place around the globe where either Hillary Clinton or John Kerry came, saw and promptly departed in the past year.

So what to make of the world as we enter 2014?

With nearly $2 trillion in emergency liquidity pumped by the world’s two largest central banks – more than has been injected ever before – the entire world is floating on an ocean of excess liquidity, which for now has succeeded in masking just how ugly the truth beneath the calm surface is. Sooner or later, the tide comes out, as it always does, and the naked are revealed for all to see. However, this time it will be the very final backstoppers of the status quo regime, the central banking emperors of the New Normal, who are finally exposed as wearing absolutely nothing. What happens then, and when that happens, is anyone’s guess. We, however, will be there to document every aspect of it.

Finally, and as always, we wish all our readers the best of luck and success in 2014, and leave everyone with a promise of what we can be 100% sure of: Zero Hedge will be there each and every day helping readers expose, unravel and comprehend the fallacy, fiction, fraud and farce that the system is reduced to (ab)using each and every day just to keep the grand tragicomedy going for at least one more day.

 

Fury with MPs is main reason for not voting – poll | Politics | The Guardian

Fury with MPs is main reason for not voting – poll | Politics | The Guardian.

The Houses of Parliament at dusk

The Houses of Parliament at dusk. Rage against politicians is the dominant sentiment across just about every sub-stratum of the electorate. Photograph: Andrew Winning/Reuters

Nearly half of Britons say they are angry with politics and politicians, according to a Guardian/ICM poll analysing the disconnect between British people and their democracy.

The research, which explores the reasons behind the precipitous drop in voter turnout – particularly among under-30s – finds that it is anger with the political class and broken promises made by high-profile figures that most rile voters, rather than boredom with Westminster.

Asked for the single word best describing “how or what you instinctively feel” about politics and politicians in general, 47% of respondents answered “angry”, against 25% who said they were chiefly “bored”.

Negative sentiments vastly outnumber positive, with only 16% reporting feeling “respectful” towards people doing a difficult job, while a vanishingly small proportion of 2% claim to feel “inspired”.

Graphic: voter apathy, ballot blocksResponding to fears about disengagement by young people from politics, the Tory MP Chloe Smith, a former minister at 31, told the Guardian there was a danger of a political disconnect between young and old, with “generations far apart and not talking to each other”. One of her ministerial briefs included improving voter engagement.

“I think there is an existential problem coming for traditional forms of British democracy, which it is in everyone’s interests, all of us as democrats, to respond to,” she said. “We have to demonstrate what politics is for, why a young person’s individual action in voting matters.”

When Harold Wilson won the 1964 election, more than three quarters of people cast their vote and turnout was roughly equal across the generations. But according to data from Ipsos Mori, at the last election 76% of over-65s were still voting, while only 46% aged 18-24 were going to the ballot box.

Graphic: voter apathy, rageRage is the dominant sentiment across just about every sub-stratum of the electorate, but is especially marked among men, northerners, voters over 45 and the lower DE occupational grade.

Labour voters, too, are disproportionately cross. But supporters of Ukip, the party that put itself on the map in 2013 with big gains in local elections, reflect the mood of the times most intensely: more than two-thirds, 68%, say the thought of politics and politicians makes them more angry than anything else.

Deborah Mattinson, a former pollster to Gordon Brown and now an expert at BritainThinks, believes politicians have not begun to grasp the scale of the problem. “Voter disengagement is getting worse and worse,” she says. “Nobody is really taking it seriously enough.”

Recent high-profile celebrity interventions on the subject have served to underline the growing disconnection. The former England footballer Michael Owen told the Guardian for the paper’s series on voter apathythat he had never voted.

Graphic: voter apathy, power brokersRussell Brand expressed the disaffection of many in October when he told Jeremy Paxman on Newsnight that he had never voted because he “can’t be arsed”, adding later: “The only reason to vote is if the vote represents power or change. I don’t think it does.”

After the interview, which received more than 10m hits on YouTube, Paxman said he understood Brand’s decision, dubbing Westminster politics a “green-bench pantomime … a remote and self-important echo-chamber”.

Reflecting such sentiments, the polling shows that ennui is more marked among the young, rivalling fury as the dominant feeling about politics among voters aged 18-24, who are evenly split 34%-34% between boredom and anger.

Graphic: voter apathy, talkBoredom is marked in one other group, too – those voters of all ages who admit to being unlikely to vote. But even among those who rate their chance of turning out as four or lower on a 10-point scale, the angry marginally outnumber the bored, by 41% to 40%. When asked what puts people off voting, the cause of that anger is the perception that politicians do not keep their promises. Nearly two voters in every three, 64%, nominated the failure of governments to honour their pledges as something that would put them off casting a ballot – higher than any other factor.

In the week that the former Labour minister Denis MacShane was jailed for fraud, the continuing damage done to parliament’s reputation by the expenses scandal of 2009 is also plain – 46% of respondents identify the sense that “MPs are just on the take” as a thought that would discourage them from turning up at the polling station.

Only around a third of potential voters, 34% of the total, say they are put off by careerist candidates who “don’t say what they believe”. Just 26% regard the parties as “so similar that [voting] makes little difference”, and only 25% see the failure of the parties to “represent my mix of views” as a particular problem.

Meanwhile, the mechanics of democracy – the focus of thinktank proposals for automatic postal ballots or weekend voting – emerge as a virtual irrelevance.

Only 2% of the electorate regard the inconvenience of registering and then casting a vote as a reason not to do so, suggesting that proposed measures such as weekend or electronic voting are unlikely to make a big difference to election turnout.

Other findings though suggest that Britons remain convinced that politics matters. An overwhelming 86% told ICM that the “decisions politicians make” are either “very important” or “fairly important” to their own lives, as against just one in ten who said that such choices were “not that” or “not at all” important in day-to-day life. And there is remarkably little difference between voters and non-voters here: even among those unlikely to turn-out some 80% do believe that political choices will affect them.

Furthermore, Britons continue to talk politics regularly. A clear majority of the electorate as a whole, 62% of respondents, claim to discuss “politics or the sort of issues affected by politics” with friends and family at least once every fortnight, and a substantial minority of 29% claims to do so at least “every few days”. Across the population, the pollster estimates an average of 72 political discussions a year. ICM finds somewhat less frequent political discussion among the youth and among likely non-voters, but even among these disaffected groups such conversations will crop up in more weeks than not.

ICM Research interviewed an online sample of 2023 adults aged 18+ online on 20-22 December 2013. ICM is a member of the British Polling Council and abides by its rules.

 

» New armored tank for town police sparks fear, war of words Alex Jones’ Infowars: There’s a war on for your mind!

» New armored tank for town police sparks fear, war of words Alex Jones’ Infowars: There’s a war on for your mind!.

Joe Saunders
bizpacreview.com
December 23, 2013

A war of words has broken out over police force in California getting a new armored vehicle built more for a state of war than patrolling in the Golden State.

The Salinas Police Department recently issued a news release proudly announcing the arrival of the armored truck built to survive minefield explosions, which it got compliments of federal taxpayers as part of a program to convert military equipment to law-enforcement use.

califmwrap1222

Critics took to the police department’s Facebook page to ask exactly why a city of 150,000 on the northern California coast really needs a vehicle designed for battlefield use. It’s more likely to be used against its own citizens, they said..

“That vehicle is made for war. Do not use my safety to justify that vehicle,” one wrote. “The Salinas Police Department is just a bunch of cowards that want to use that vehicle as intimidation and to terrorize the citizens of this city.”

‘To stop gang members?” another wrote. “Hmmm gang members don’t riot in mass numbers. It’s right in front of our faces and we don’t see it. Why would the ARMY!!! give something like that for FREE!!! Let’s think for once people.”

Police Chief Kelly McMillin said he doesn’t understand the problem.

“I knew this was going to come up,” he said in an interview with the Salinas Californian. “It’s the militarization-of-the-police issue. People are like, ‘Why do you need this?’”

He said it’s not what the department has, it’s what it does that’s the point.

“An allegation that we are militarizing has to be that we were patrolling the streets in platoons in greater numbers, that we were setting up checkpoints and searching people in and out of neighborhoods,” he told the interviewer.

The Salinas PD isn’t doing any of that, he said.

Maybe not. And maybe it never will under Kelly McMillin. But that’s not the point, and it’s hard to believe McMillin and the reporter from the Salinas Californian don’t know that.

This country only two months ago saw rangers for the National Park Service – National Park rangers, for God’s sake – turn into a bunch of storm troopers keeping World War II vets out of their own monument, and visitors from “recreating” at Yosemite.

And Chief McMillin doesn’t understand why citizens don’t trust the government with ever-greater weaponry in the hands of a “civilian” police force?

Just ask the commenters on the Salinas Californian article.

“It could be used to deliver a whole bunch of shut the hell up to the citizens of this fair town,” one wrote.

Another agreed.

“And Obama said we don’t need military weapons in hands of citizens”

H/T: The Daily Mail

Idle No More flash mobs in 9 cities this weekend – Aboriginal – CBC

Idle No More flash mobs in 9 cities this weekend – Aboriginal – CBC.

A year ago today flash mob round dances took place across the country, and thousands of people danced and marched from Victoria Island to Parliament Hill, in Ottawa.

“It was an impressively massive show of cultural and solidarity” said CBC’s Waubgeshig Rice, “and although I was covering it for CBC, I found it impossible not to be moved.”

While some have wondered whether Idle No More is still a growing movement, the flashmob Round Dances taking place across the country this weekend are in indication that there is still a lot of momentum.

So far this weekend flash mob round dances have taken place in Winnipeg, Toronto, Sudbury, Saskatoon, and Lethbridge. There are plans in place for Fredricton, Surrey, and Montreal. And there is a ‘treaty information check stop in Delaronde, SK.

Flash mob round dances in 9 cities this weekend

While some have wondered whether Idle No More is still a vibrant movement, the flash mob round dances taking place across the country this weekend are an indication that there is still a lot of momentum.

  1. A year ago today Idle No More flash mobs took place across the country.
  2. Women Hand Drummers called to the front – #IdleNoMore #INMMarch to Parliament Hill, Ottawa ON, Dec. 21, 2012pic.twitter.com/YJzWxUxOUk
  3. Here are some snapshots of round dances happening across the country this weekend.
  4. Drumming, Singing from inside Yonge-Dundas Intersection#RoundDance#IdleNoMore #cdnpoli #TOpoli  http://twitpic.com/dph9wh 
  5. First Nation Voices echoing throughout Yonge-Dundas Intersection.#RoundDance #IdleNoMore #Toronto  http://twitpic.com/dpha6a 
  6. …Hand in Hand in Hand in Hand goes The Yonge+Dundas#RoundDance#cdnpoli #TOpoli #Toronto  http://twitpic.com/dphaqz 
  7. Downtown Sudbury Ontario we are idle no more!! 1yr later we are still strong!!!!! #nationbuilding pic.twitter.com/aWBuqhehEF
  8. This one is a re-share of Aaron Pierre’s Instagram photo at Winnipeg’s Friday flash mob:
  9. To change it up, Idle No More in Treaty 6 Territory held an treaty information check-stop by Delaronde Lake in memory of those who lost their lives defending the land.
  10. It’s cold out here, Treaty Information Check Stop still ON#IdleNoMore pic.twitter.com/mLLxGpWoZs
  11. Treaty Information Check Stop in ON! #IdleNoMore …it’s pretty cold though 🙂 pic.twitter.com/vniklyHEGe

 

Statoil may choose between Alberta, N.L. oil projects – Business – CBC News

Statoil may choose between Alberta, N.L. oil projects – Business – CBC News.

Statoil's Leismer project began producing in 2011 and the Norwegian company has plans to expand it, but may have to prioritize Canadian projects.Statoil’s Leismer project began producing in 2011 and the Norwegian company has plans to expand it, but may have to prioritize Canadian projects. (YouTube)

Statoil might have to choose between developing properties in the Alberta oilsands and an offshore find off Newfoundland because of rising costs in the industry.

Stale Tungesvik, president of Statoil Canada, says its Norwegian parent company will decide in February which of the Canadian projects will go ahead.

“We invest more than ever, but we see that it’s much more costly to develop one barrel of oil today than it was earlier,” Tungesvik said in a briefing with reporters Monday.

He said Statoil has to prioritize which projects to develop, because the oil available is more difficult to extract.

Crude oil prices are sitting at about $100 US a barrel, but that’s the equivalent to $30 several years ago, he said.

“Today, $100 a barrel is the same as $30,” he said, adding “the easy barrels” are gone.

Tungesvik said he would prefer to go ahead with projects in bothAlberta’s oilsands and off the coast of Newfoundland and Labrador, but that may not happen.

“When that will hit us some place in Canada, I’m not sure yet. I’m still fighting for doing both, so that’s my kind of position.But there is the bigger picture. There has to be some changes,” he said.

In August, Statoil and partner Husky Energy Inc. announced a huge offshore oil discovery about 500 kilometres northeast of St. John’s.

It’s the company’s third find in the Flemish Pass Basin in the North Atlantic and promises between 300 million and 600 million barrels of recoverable oil.

It also has plans to develop the Corner oilsands in Alberta and is mulling an expansion to its Leismer property, which began production in January 2011. Both Corner and Leismer have regulatory approval to produce up to 40,000 barrels per day.

 

Does the Fed Favor Any Group in Particular? Mark Spitznagel vs. Paul Krugman

Does the Fed Favor Any Group in Particular? Mark Spitznagel vs. Paul Krugman.

Kicking off this Economic Farce Royale… we have Mark Spitznagel explaining why the Fed is the root of all evil… or at least the source of the so-call “wealth gap”. We’ve sprinkled our own comments throughout to keep it lively and (God help us) not too serious.

OK. Round one, *ding, ding*…


Mark Spitznagel

Amajor issue is the growing disparity between rich and poor, the 1% versus the 99%. While the president’s solutions differ from Republicans, they both ignore a principal source of this growing disparity.

The source is not runaway entrepreneurial capitalism, which rewards those who best serve the consumer in product and price. (Would we really want it any other way?) There is another force that has turned a natural divide into a chasm… dun, dun, dun… the Federal Reserve. The relentless expansion of credit by the Fed creates artificial disparities based on political privilege and economic power.

[Go figure…]

David Hume, the 18th-century Scottish philosopher, pointed out that when money is inserted into the economy (from a government printing press or, as in Hume’s time, the importation of gold and silver), it is not distributed evenly but “confined to the coffers of a few persons, who immediately seek to employ it to advantage.”

[Well, yeah…]

In the 20th century, the economists of the Austrian school built upon this fact as their central monetary tenet. Ludwig von Mises and his students showed that an increase in money supply is beneficial to those who get it first and is detrimental to those who get it last. Monetary inflation is a process, not a static effect. To think of it only in terms of aggregate price levels (I’m looking at you Ben Bernanke) is to ignore this pernicious process and the imbalance and economic dislocation that it creates.

As Mises protégé Murray Rothbard explained, monetary inflation is akin to counterfeiting, which necessitates that some benefit and others don’t. After all, if everyone counterfeited in proportion to their wealth, there would be no real economic benefit to anyone. Similarly, the expansion of credit is uneven in the economy, which results in wealth redistribution. To borrow a visual from another Mises student, Friedrich von Hayek, the Fed’s money creation does not flow evenly like water into a tank, but rather oozes like honey into a saucer, dolloping one area first and only then very slowly dribbling to the rest.

The Fed doesn’t expand the money supply by uniformly dropping cash from helicopters over the hapless masses. Rather, it directs capital transfers to the largest banks (whether by overpaying them for their financial assets or by lending to them on the cheap), minimizes their borrowing costs, and lowers their reserve requirements. All of these actions result in immediate handouts to the financial elite first, with the hope that they will subsequently unleash this fresh capital onto the unsuspecting markets, raising demand and prices wherever they do.

The Fed, having gone on an unprecedented credit expansion spree, has benefited the recipients who were first in line at the trough: banks (imagine borrowing for free and then buying up assets that you know the Fed is aggressively buying with you) and those favored entities and individuals deemed most creditworthy. Flush with capital, these recipients have proceeded to bid up the prices of assets and resources, while everyone else has watched their purchasing power decline.

At some point, of course, the honey flow stops—but not before much malinvestment. Such malinvestment is precisely what we saw in the historic 1990s equity and subsequent real-estate bubbles (and what we’re likely seeing again today in overheated credit and equity markets), culminating in painful liquidation.

The Fed is transferring immense wealth from the middle class to the most affluent, from the least privileged to the most privileged. This coercive redistribution has been a far more egregious source of disparity than the president’s presumption of tax unfairness (if there is anything unfair about approximately half of a population paying zero income taxes) or deregulation.

Pitting economic classes against each other is a divisive tactic that benefits no one. Yet if there is any upside, it is perhaps a closer examination of the true causes of the problem. Before we start down the path of arguing about the merits of redistributing wealth to benefit the many, why not first stop redistributing it to the most privileged?

Ooh… Them fightin’ words. OK, we turn to *ahem* America’s leading economist, nobel laureate and pointy head, Paul Krugman. He’ll now take himself too seriously and give us his academic rebuttal. We took a few editorial liberties so you wouldn’t fall asleep…

Round two, *ding, ding*…


Paul KrugmanI’ll be the first to admit that these past few years have been lean times in many respects — but they’ve been boom years for agonizingly dumb, pound-your-head-on-the-table economic fallacies. The latest fad — illustrated by what Mark Spitznagel just wrote above [ouch] — is that expansionary monetary policy is a giveaway to banks and plutocrats generally.

Indeed, his screed actually claims that the whole 1 versus 99 thing should really be about reining in or maybe abolishing the Fed. (Hah… Could you imagine that!) Unfortunately, and I’m sorry for this backhanded compliment, some pretty smart people have bought into at least some version of this dumb story.

What’s wrong with the idea that running the printing presses is a giveaway to plutocrats? Let me count the ways!

First, the situation is utterly the reverse of what Spitznagel claimed. Quantitative easing isn’t being imposed on an unwitting populace by financiers and rentiers; it’s being undertaken, to the extent that it is, over howls of protest from the financial industry. I mean, c’mon! Where are the editorials demanding that the Fed raise its inflation target, right?!

[Crickets…]

Uhh… Beyond that, let’s talk about the economics.

The deliberately misleading… er I mean, naive, version of Fed policy Spitznagel made is that Ben Bernanke is “giving money” to the banks. What it actually does, of course, is buy stuff from the banks, usually short-term government debt but nowadays sometimes other stuff with money that didn’t exist before. But, seriously, it’s not a gift.

To claim that it’s a gift you have to claim that the prices the Fed is paying are artificially high, or equivalently that interest rates are being pushed artificially low. And you do in fact see assertions to that effect all the time. But if you think about it for even a minute, that claim is truly bizarre.

I mean, what is the un-artificial, or if you prefer, “natural” rate of interest? As it turns out, there is actually a standard definition of the natural rate of interest and it’s basically defined on a PPE basis (that’s for proof of the pudding is in the eating). Roughly, the natural rate of interest is something, kind of like the rate that would lead to stable inflation at more or less full employment.

[Uh-huh…]

And we have low inflation with high unemployment, strongly suggesting that the natural rate of interest is below current levels, and that the key problem is the zero lower bound which keeps us from getting there. Under these circumstances, expansionary Fed policy isn’t some kind of giveway to the banks, it’s just a giveaway to the banks that the economy needs.

Furthermore, Fed efforts to do this probably tend on average to hurt, not help, bankers. Yes, I just wrote that with a straight face. Banks are largely in the business of borrowing short and lending long; anything that compresses the spread between short rates and long rates is likely to be bad for their profits. And the things the Fed is trying to do are in fact largely about compressing that spread, either by persuading investors that it will keep short rates at zero for a longer time or by going out and buying long-term assets. These are actions you would expect to make bankers angry, not happy — and that’s what has actually happened.

How, exactly, does expansionary monetary policy hurt the 99 percent? Think of all the people living on fixed incomes, we’re told. But who are these people? I know the picture: retirees living on the interest on their bank account and their fixed pension check — and there are no doubt some people fitting that description. But there aren’t many of them, which makes it ok.

No, the real victims of expansionary monetary policies are the very people who the current mythology says are pushing these policies. And that, I guess, explains why we’re hearing the opposite.

The typical retired American these days relies largely on Social Security — which is indexed against inflation. He or she may get some interest income from bank deposits, but not much: ordinary Americans have fewer financial assets than the elite can easily imagine. And as for pensions: yes, some people have defined-benefit pension plans that aren’t indexed for inflation. But that’s a dwindling minority — which again means it’s perfectly ok — and I assume the effect of, say, 1 or 2 percent higher inflation isn’t going to be enormous even for this minority.

What’s the takeaway? That unless you’re going to go stumping for policy on capitol hill (in which case, there’s no hope for you) you should focus on actionable steps you can take to increase your wealth… instead of engaging in groupthink. As for the policy debate…well, it’s always good for a laugh.

Regards,

The Daily Reckoning

Ed. Note: Whether you’re on a fixed income or not, there are ways you can safeguard and even grow your wealth, regardless of where you stand on the issue debated above. Today’s Daily Reckoning email edition gave readers a chance to get in on a one-time live event that will help them do just that. Didn’t see that offer? Not to worry… The Daily Reckoning will be back tomorrow with another opportunity for you to take advantage of. Be sure you don’t miss that one too. Sign up for the FREE Daily Reckoning email edition, right here.

 

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