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QE Infinity: What Is It Really About?
by Ellen Brown
QE3, the Federal Reserve’s third round of quantitative easing, is so open-ended that it is being called QE Infinity. Doubts about its effectiveness are surfacing even on Wall Street. The Financial Times reports:
Among the trading rooms and floors of Connecticut and Mayfair [in London], supposedly sophisticated money managers are raising big questions about QE3 — and whether, this time around, the Fed is not risking more than it can deliver.
Which raises the question, what is it intended to deliver? As suggested in an earlier article here, QE3 is not likely to reduce unemployment, put money in the pockets of consumers, reflate the money supply, or significantly lower interest rates for homeowners, as alleged. It will not achieve those things because it consists of no more than an asset swap on bank balance sheets. It will not get dollars to businesses or consumers on Main Street.
Venezuelan Elections: a Choice and Not an Echo
James Petras
Introduction
On October 7th, Venezuelan voters will decide whether to support incumbent President Hugo Chavez or opposition candidate Henrique Capriles Radonski. The voters will choose between two polar opposite programs and social systems: Chavez calls for the expansion of public ownership of the means of production and consumption, an increase in social spending for welfare programs, greater popular participation in local decision-making, an independent foreign policy based on greater Latin American integration, increases in progressive taxation, the defense of free public health and educational programs and the defense of public ownership of oil production. In contrast Capriles Radonski represents the parties and elite who support the privatization of public enterprises, oppose the existing public health and educational and social welfare programs and favor neo-liberal policies designed to subsidize and expand the role and control of foreign and local private capital. While Capriles Radonski claims to be in favor of what he dubs “the Brazilian model” of “free markets and social welfare”, his political and social backers, in the past and present, are strong advocates of free trade agreements with the US, restrictions on social spending and regressive taxation. Unlike the US, the Venezuelan voters have a choice and not an echo: two candidates representing distinct social classes, with divergent socio-political visions and international alignments. Chavez stands with Latin America, opposes US imperial intervention everywhere, is a staunch defender of self-determination and supporter of Latin American integration. Capriles Radonski is in favor of free trade agreements with the US, opposes regional integration, supports US intervention in the Middle East and is a diehard supporter of Israel. In the run-up to the elections, as was predictable the entire US mass media has been saturated with anti-Chavez and pro-Capriles propaganda, predicting a ‘victory’ or at least a close outcome for Washington’s protégé.
Inciting Unrest in Venezuela
by Stephen Lendman
Last month, Duke University's Patrick Duddy published a Council on Foreign Relations (CFR) paper titled "Political Unrest in Venezuela."
From August 2007 - July 2010, he was Washington's Venezuelan ambassador. He represents imperial, not popular interests.
In September 2008, Venezuela declared him persona non grata. At issue were solidarity issues with Bolivia.
The State Department expelled its US ambassador Gustavo Guzman. It acted after Evo Morales banished Washington's ambassador Philip Goldberg. He did so for good reason. Goldberg "conspir(ed) against democracy" and encouraged internal disruptions.
About time! New York Charges JPMorgan with Mortgage Fraud
Michael Collins
(New York Times, Oct 1) "The federal mortgage task force that was formed in January by the Justice Department filed its first complaint against a big bank on Monday, citing a broad pattern of misconduct in the packaging and sale of mortgage securities during the housing boom. The civil suit against Bear Stearns & Company, now a unit of JPMorgan Chase, was brought in New York State court by Eric T. Schneiderman, the state attorney general."
Schneiderman charged Bear Sterns and JPMorgan, which acquired Bear, with fraud under the state's Martin Act. Unique to New York, the act allows prosecutors the ability to vigorously pursue financial fraud with both civil and criminal charges. The investigative powers provided are broader than those found in any state or among regulators (e.g., the Securities and Exchange Commission).
Memo to UN Secretary-General Ban Ki-Moon: The door on a two-state solution was closed 45 years ago
By Alan Hart
UN Secretary-General Ban Ki-Moon told the General Assembly at the start of this week that “the door may be closing for good on a two-state solution to the Israel-Palestine conflict.” He added: “The continued growth of Israeli settlements in the occupied Palestinian territory seriously undermines efforts toward peace. We must break this dangerous impasse.”
The truth of history, which most if not all world leaders know but dare not state, is that the door Ban Ki-Moon sees closing, was actually slammed shut 45 years ago. The precise date of the closure was 22 November 1967. What happened on that day?
Neocon Uber-Hawks Want War on Iran
by Stephen Lendman
In January 2009, Obama succeeded Bush. Neocons stuck around. They infest Washington. War gets their juices flowing. They urge it on Syria and Iran.
Potential catastrophic consequences don't matter. Uber-hawks don't worry about them. It's someone else's problem.
Romney is America's Netanyahu. Both talks about red lines, deadlines, and timelines. Claims about an existential Iranian threat don't wash. Both know it. They'll say anything further their imperial aims. More on Romney below.
Living with the Enemy
by Stephen Lendman
How do Palestinians manage every day? How do they deal with state-sponsored denial of their rights? How do they survive under suffocating conditions?
Where will they live once Israel steals all parts of Judea and Samaria it wants? It's grabbing it durum by dunum. What Palestinians lived on peacefully for centuries is fast disappearing.
On September 21, 30 organizations urged Quartet action to keep Palestinian villages from disappearing. They include:
ActionAid; Amnesty International; Broederlijk Delen; Care International; Caritas Jerusalem; Comet- ME; Danish Church Aid (DCA); Diakonia; Ecumenical Accompaniment Programme in Palestine and Israel (EAPPI); World Council of Churches; EWASH; GVC (Gruppo di Volontariato Civile); HelpAge International; Human Rights Watch (HRW); Japan International Volunteer Center (JVC); Islamic Relief; Kvinna till Kvinna Foundation; MAP UK; medico international; Norwegian Church Aid (NCA); Norwegian People's Aid (NPA); Oxfam; Polish Humanitarian Action (PAH); Prèmiere Urgence-Aide Médicale Internationale; SEBA; The Swedish Cooperative Centre (SCC); Terre des Hommes Italia (TdH); The Carter Center; The Overseas NGO; War Child; and World Vision Jerusalem-West Bank-Gaza.
Who are the U.S. supporting in Somalia?
by Philip Greaves
Secretary of State Hillary Clinton has congratulated Somalia on its transition of government, speaking in Washington-”What has been accomplished has exceeded what many thought was possible. And it’s taken a lot of hard work and a lot of sacrifice, first and foremost from the people of Somalia,”Speaking at the United Nations in New York September 26. “Now we have to help in the next phase for the people of Somalia, and we look forward, on behalf of the United States, to doing everything we can to make it a success.”
The secretary has outlined three key areas the US will continue its support in Somalia, Firstly, Security, “As more areas are liberated from al-Shabaab, the government will need to establish police forces and courts,” Secondly the US will focus on stabilisation, Clinton said- “more than 2 million people in Somalia still need lifesaving humanitarian assistance. Many more face hunger and malnutrition and can’t get basic services, such as clean water and adequate electricity. And the former combatants, who are defecting from al-Shabaab will need to be reintegrated into local communities.” Finally Clinton urged the new Somali government in reforming and constructing “a cabinet of people who will work to promote the interests of the Somali people and respond to their needs and maintain the confidence of international donors so future collaboration can continue.” Clinton emphasized the need to “So we look to the government to build transparent and accountable institutions.” I have a feeling those words may come back to haunt the Secretary of State.
Fire Congress, Vote Out Incumbents
Joel S. Hirschhorn
For politicians to do what is right, first citizens must do what is right.
Of all the many, many stupid things that most Americans do, nothing is more insane than the ritual every two years of reelecting incumbent members of Congress. Countless opinion polls find that the public has incredibly low levels of positive regard for Congress. Just one in 10 Americans approves of the job Congress is doing, according to a Gallup poll released a few weeks ago, tying the branch's lowest approval rating in 38 years.
Yet this year as in past years, unless Americans take back control of their country, voters will again reelect nearly all incumbents. Often, some incumbents do not even have any significant opposition. For example, in the 2000 election cycle, out of 435 House seats, 64 members had no major-party opponent, and in 2008 every House race in Arkansas was uncontested by a major party according to the Center for Voting and Democracy. Political redesign of congressional districts, gerrymandering, is widely done to ensure reelection of incumbents or one party.
Lakota Sioux Nation Leaves America
by Stephen Lendman
America betrayed them and all Native Peoples. Throughout US history and earlier, genocide was policy.
Historian Ward Churchill explained four centuries of systematic slaughter. It went on from 1492 - 1892. It continues today against Native culture.
Churchill estimated around 100 million Native People throughout the Americas "hacked apart with axes and swords, burned alive and trampled under horses, hunted as game and fed to dogs, shot, beaten, stabbed, scalped for bounty, hanged on meathooks and thrown over the sides of ships at sea, worked to death as slave laborers, intentionally starved and frozen to death during a multitude of forced marches and internments, and, in an unknown number of instances, deliberately infected with epidemic diseases."
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