Sunday, July 06, 2014


News Links, July 5-7, 2014

## Global Ponzi meltdown/House of Cards ##
Spain Issues Retroactive 0.03% Tax on Bank Deposits to "Boost Economic Growth and Job Creation"
Shocker! IMF's Lagarde hints at world growth forecast cut
Largest Austrian Bank Crashes After "Revealing" 40% Surge In Bad Debt Provisions, Record Loss
Small German Shipping Firms to Fade on Credit Crunch, PwC Says
German Manufacturing Orders Decline on Geopolitical Risks
Gold industry bust at $1 300/oz, says Randgold's Bristow
The gold mining industry was fundamentally broke at a gold price of $1 300/oz, Randgold Resources CEO Dr Mark Bristow said on Wednesday. Speaking to journalists at a media lunch, Bristow said the industry was unable to make returns at that low level of gold price range.
By "Punishing" France, The US Just Accelerated The Demise Of The Dollar
EU finance ministers to discuss euro trade role after BNP case
Euro zone finance ministers will discuss on Monday ways to bolster the use of the euro in international trade in the aftermath of BNP's record U.S. fine, France's finance minister said, adding that other banks could face the same fate as BNP.
CEO Of One Of The World's Largest Energy Majors "Sees No Reason For Petrodollar"
China sets yuan clearing bank in Seoul
China designated a clearing bank in Seoul for yuan transactions in South Korea on Friday, coinciding with a visit by President Xi Jinping, as Beijing promotes greater use of its currency overseas. China's central bank has authorised the Bank of Communications, the country's fifth largest lender, to undertake yuan clearing business in the South Korean capital, the People's Bank of China (PBoC) said in a statement.
India's Modi to target record asset sales in first budget -source
India's new government will seek to raise up to a record $11.7 billion in asset sales in its maiden budget this week, a senior government source said, bolstering state finances and buying time for structural reforms to revive a weak economy.
Digital currencies could challenge sovereignty, conference hears
EU Regulator To Banks: Don't "Buy, Hold, Sell" Virtual Currencies
Egypt president raises cigarette, alcohol prices
Italian minister delays goal of repaying commercial debts
The Italian state owes some 75 billion euros ($102 billion) to private suppliers, according to the most recent data from the Bank of Italy. The unpaid bills have starved companies of cash and triggered layoffs, factory closures and bankruptcies.
Trans-Pacific Partnership talks going on in Ottawa
Trade officials from Canada and other Asia-Pacific nations are meeting behind closed doors in Ottawa to discuss the Trans-Pacific Partnership, a massive free-trade proposal that could create one of the world's largest trading blocks.
Brain Worms - Bloomberg Writer Noah Smith Has Them
Sweden to tighten rules on household borrowing
Sweden's finance minister Friday signaled that tighter rules on household borrowing could be imminent amid concerns that Swedes could be taking on too much debt to buy homes.

## Airline Death Spiral ##
Higher airfares could stick beyond summer
Air travelers are paying more to fly in the U.S. this summer on crowded planes as carriers including American Airlines keep capacity tight, conditions passengers will have to get used to beyond the vacation period.
Etihad president denies airline receiving state subsidies
Qantas Seeks Clear Air for Overhaul by Pushing Back Debt
Biman must find partners to return to profit
Fewer Cargo Planes, More Cargo in Passenger Planes
Long haul 'impossible' without business class

## Iraq ##
More signs of Iraq disintegration as Kurds call for independence vote, Islamists solidify position
Iraq's prime minister vows to seek a third term in office despite calls to stand aside
Video purportedly shows extremist leader in Iraq
Iraq says footage purporting to show ISIS leader is false
Iraq analyzing tape purported to show top militant
Iranian pilot killed fighting in Iraq
US Sends Special Forces to Northern Iraq
7 things you need to know about Ahmed Chalabi
Rapidly-Chaotic Collapse of the Cradle of Civilization
Shi'ite cleric Sadr urges Maliki's bloc to choose new Iraq PM candidate
Iran's Surveillance Drones Over Iraq Make U.S. Military Wary
Iraq crisis: As Shia shrines are targeted and Tikrit is strangled, the fiercest of wars lies ahead

## Fault lines/flashpoints/powder kegs/military/war drums ##
Syria conflict: UK planned to train and equip 100,000 rebels
No Independence Day In Eastern Ukraine: Washington Supports Kiev's Violent Suppression
Bulgaria Hosts NATO Naval Drills in Black Sea
Russian navy starts drills in Black Sea
Seven Obama Lies About The Ukrainian Civil War
Taliban Destroys Hundreds of Oil Tankers Fueling US/NATO War
What did $7 billion spent on opium eradication in Afghanistan buy? More opium.
U.S. grounds entire F-35 fleet pending engine inspections
Cargo theft hijackings: "Business as usual"
Sea Transportation: The Strait of Malacca Blues
The international effort to suppress Somali piracy halted and reversed the increased piracy off the coast of Somalia but at the same time there has been a major increase in attacks in the Straits of Malacca.
Gunmen kill at least 13 in attacks on Kenyan coast

## Global unrest/mob rule/angry people/torches and pitchforks ##
Soweto protesters torch 15 cars at Eskom building (South Africa)
Protesters in Orland West in Soweto torched 15 cars at an Eskom office in what is suspected to be protest action over electricity supply.
California bus saga suggests illegal immigration backlash is boiling over
Clashes in Jerusalem as Arab teen is buried, rocket fire continues
Thousands of Palestinians furious over the killing of a local teenager swarmed the streets of east Jerusalem on Friday to demand a new intifada. The fierce clashes with police that followed the teen's funeral stirred fears that a mass uprising could already be underway.
Violent protests spread to Israel after burial of Palestinian teen
Kuwait police fire teargas to break opposition demo
Clashes Between Egypt Troops, Protesters Kill Teen
Violent clashes resume across Israel, two Palestinians killed in Gaza

## Energy/resources ##
Egypt's government dramatically raises fuel prices
Egyptian authorities, following promises to cut subsidies, raises fuel prices by up to 78 per cent in an attempt to address staggering level of deficit
Egypt cuts natural gas subsidies to factories
Birthplace of offshore wind farms struggles to cope with government subsidy cuts
Officials: Energy Crisis Looming (US)
New England is facing an energy crisis that will drive up consumers' electricity bills, and the states need to come together for a solution, said regional energy officials at a conference held Monday in Manchester.
An energy crisis bound to happen (EU)
Already standing at a crippling one billion Euros a day, Europe's fossil fuel import bill is expected to increase as energy sources become more volatile and unpredictable.
Electricity and gas prices: why you're paying more (Australia)
An energy crisis is rapidly unfolding in the Australian electricity and gas sectors that will rival the oil shock of the 1970s.
Pakistan still having trouble keeping lights on
Severe Power Shortage Grips Entire AP (India)
Energy Efficiency Now a Booming High Tech Industry
10 (Unexpected) Uses of Oil
These Are The 5 Countries Most Plagued by Oil Theft
'Six more years' of overcapacity torture
Europe's utilities will continue to suffer from low wholesale power prices eroding their revenues until the end of the decade as rising renewable output and low demand combine, rating agency Moody's said on Wednesday.
Oil sands as national economic engine? Survey shows Canadians vastly overestimate sector's impact
Jihadists control all main Syria oilfields: NGO
Gov't depends on energy-saving efforts by households as summer heat approaches (Japan)
Saudi Arabia gas project has failed, admits Shell

## Infrastructure scavenging ##
After rail sections, scrap metal thieves target power towers (India)
Radstock church metal thieves cause extensive damage (UK)
Thieves swipe £50k worth of drain covers

## Got food? ##
Saudi food market to increase 9% by 2017
Foster Farms Voluntarily Recalls Salmonella-Tainted Chicken
Anthrax confirmed in North Dakota beef cow
100k pigs dying each week as virus plagues industry
Foster Farms Salmonella Outbreak Expands
What can urban agriculture do for Latin American cities?
As fuel prices rise, the cost of food escalates
For farmers, the expenses keep soaring. Florida Farm production expenses increased approximately 48 percent from 1997 to 2012, while in the U.S. overall, it was nearer 119 percent.
'The Great Fish Swap': How America Is Downgrading Its Seafood Supply
The Last Drop: America's Breadbasket Faces Dire Water Crisis
With the world population increasing, and other critical global aquifers suffering equally dramatic declines, scientists acknowledge that if the American Breadbasket cannot help supply ever-growing food demands, billions could starve.
Foodflation - Since QE3, Breakfast Is Up Over 24%

## Lifestyle Solutions ##
Debt-Free Home Reports
26 Ways to Trim Your Household Costs, Room by Room

## Environment/health ##
As Ebola Cases Spike, WHO Asks For More Money And Help
Defenders of Bees Celebrate Retreat of Corporate Pesticide Peddler
Agrochemical giant Syngenta withdrawals a request for 'emergency exemption' of harmful 'neonics' in the UK
Manitoba floods leads province to declare state of emergency, seek help from military
World Bank email leaks reveal internal row over 'light touch' $50bn loans
Environmentalists and human rights campaigners have sounded the alarm at radical plans to ease conditions for World Bank loans, enabling more than $50bn (£29bn) of public money a year to be made available for large power, mining, transport and farming projects.

## Intelligence/propaganda/security/internet/cyberwar ##
NYT Dishes More Ukraine Propaganda
Google reverses decision to delete UK newspaper links
Is Your Android Device Telling the World Where You've Been?
Civilian drones need costly fixes to avoid hacking, study indicates
Drones appear to be seriously vulnerable to hackers seeking to commandeer the vehicles by 'spoofing,' or faking, GPS satellite navigation signals. An overview of a federal study, obtained by the Monitor, discusses the problem and remedies.
Germany Detains 'Double Agent' for Spying on Spy Investigation: Reports
German intelligence officer reportedly confessed to reporting back to US government about inquiry into NSA surveillance of German targets
Germany summons US envoy over spy case
Hospitals Are Mining Patients' Credit Card Data to Predict Who Will Get Sick
31 Austrian bank accounts wiped out by Vietnamese pirates
Google Users Change Search Habits After Snowden
Surveillance, Commercialization Threaten Web Freedom, Pew Study Finds
NYC might put surveillance cameras on subways
Nine out of 10 users in NSA-intercepted conversations are not original targets
German spy who sold secrets to US tried to make deal with Russians
The Ultra-Simple App That Lets Anyone Encrypt Anything

## Systemic breakdown/collapse/unsustainability ##
The World's Largest Shopping Mall Is Opening In Dubai
Dubai is building a massive temperature-controlled "city" that will house an 8 million-square-foot shopping complex called the "Mall of The World," the United Arab Emirates' ruler announced Saturday.
Spinning industry on the verge of closure (Pakistan)
In a Handful of Dust

## Japan ##
BOJ: More people feel worse off after tax hike
Duh! -- RF
Japan cracks down on cute mascots
Hundreds of cuddly mascots are facing the chop after Japan's finance ministry ordered local authorities nationwide to cut back in their use, saying many of them are a waste of public money.
Japanese Tsunami Survivors Fight Plans for 'Mammoth Seawalls'
Japan set for first arms export under new rules
Law changes eyed concerning SDF armed assistance to U.S. vessels
Japan plans to revise the Self-Defense Forces law to permit weapons to be used to protect U.S. military vessels engaged in surveillance activities and exercises with Japanese troops during peacetime, a Japanese government source said Saturday.
Nuclear safety expenditures top ¥2 trillion
Gov't sees delay in restart of world's biggest nuclear plant

## China ##
China's real estate downturn threatens growth: economists
Report Says China Real Estate Deflating, Yet Prices Up On Year

## UK ##
London Lenders Rejecting Homebuilders as Cost of Land Soars
Surging land prices in London are prompting lenders to reject more requests from developers faced with slowing home-price gains and soaring construction costs.
The cost of being a pensioner: £10,387 a year
Cuts may see collapse of major service
Rising numbers of over-50s taking out student loans
Britain's baby-boomer generation is claiming up to £67 million a year in student loans that they are never likely to repay, the Telegraph has learnt.
Middle-classes 'forced out of private schools' as fees soar
Austerity-era teens fear for their future
Smart meters to be put into every home - even if they don't work
The £11 billion Government plan to put 'smart meters' into every UK home launches this week despite fears they may not work and could open national grid up to cyber-terrorists
Child abuse files lost at Home Office spark fears of cover-up

## US ##
Record 92,120,000 People Not In U.S. Labor Force
Part-time working nation: The number of people working part-time for economic reasons jumped by 275,000 in the latest month of data. 6.1 million Americans not in the labor but want a job now.
How The US Government Deliberately Understates Inflation 
Hillary Clinton Goes to Bat for GMOs at Biotech Conference
Speaking at a conference in San Diego last week for the world's largest trade organization of biotechnology firms, potential presidential candidate Hillary Clinton backed GMOs and Big Ag, further displaying her allegiance to the industry in the eyes of sustainable food and organic advocates.
(In)Dependence Day 2014: Freedom from Pain, or Freedom from Dysfunction?
As we celebrate the declaration of political independence from Empire today, a question arises: how independent are we today in our day-to-day lives? The flip side of independence is dependence: not just on Empire, but on painkillers, central banks, government intervention, silence, complicity.
Phoenix recovers from massive dust storm
Kids, want college money? Don't look to parents
Immigrant moms crossing Texas border at alarming rate
Backlash stirs in US against foreign worker visas
Uncle Sam wants have more kids
A Startling Number Of Millennials Are Overqualified For Their Jobs
Veterans turn to American Legion for medical help
Once fabled Atlantic City hits free fall
Student loan forgiveness may be coming in the future
Housing Scoreboard At Mid-2014: Indicators Heading South Except For Wealthy

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