Monthly Archives: September 2013

Facebook Must Face Gambit Suit Over Social Game Currency

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“Facebook Inc. (FB), owner of the world’s most popular social network, must face a lawsuit that accuses the company of breaking antitrust laws in the virtual-currency market.  Kickflip Inc., which does business as Gambit, sued in October 2012, saying Facebook destroyed competition for virtual currency services and payment processing when it began offering services of its own in 2009. Facebook sought to get the suit dismissed, arguing that Kickflip failed to allege an injury. U.S. District Judge Leonard Stark in Wilmington, Delaware, today rejected that request.”

http://www.bloomberg.com/news/2013-09-27/facebook-must-face-gambit-suit-over-social-game-currency.html

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QE3 is a Huge Subsidy to the Top 10%.

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“The Federal Reserve System’s policy known widely as QE3 is a massive subsidy of the rich at the expense of the middle class. This is the conclusion of Stephen Roach, who for years was chief economist for Morgan Stanley.  He calls this policy destabilizing. He says this: the FED ‘is courting an increasingly treacherous endgame at home and abroad.’ The FED’s creation of $85 billion of counterfeit money — euphemistically called ‘liquidity’ — is based on a theory. The theory is that rich people, who buy most of the stocks and bonds, will feel wealthier, and therefore will buy more stocks and bonds. In short, QE3 is an indirect way to goose the equity markets.”

http://teapartyeconomist.com/2013/09/26/qe3-huge-subsidy-top-10/

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Cashless trend is redefining money, and a central bank’s role as printer

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“Throughout the world, central banks have woken up to the fact that their wholesale interbank clearing and settlement systems can be bypassed by mobile-to-mobile payments. Indeed, who will get the seigniorage, or the right to interest on the monetary creation, which traditionally has belonged to the state and been delegated to the central bank?  Of course, we used to believe that central banks could only print money when it is backed by gold or promises to pay by the government. Today, advanced central banks are printing money faster than ever.”

http://www.scmp.com/comment/insight-opinion/article/1319243/cashless-trend-redefining-money-and-central-banks-role

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ObamaCare Is Just a Stepping Stone to Nationalized Health Care

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“Many people roll their eyes at ‘those idiots in Washington!’ as if these obvious outcomes are somehow a surprise. No, the people in Washington have trained economists on their staffs. They understand incentives, even though their rhetoric suggests that they don’t. Over the coming years, as the delivery of US healthcare suffers and citizens become justifiably outraged, they will be led to demand greater and greater government involvement to thwart the ‘greedy’ insurance companies and ‘overpriced’ hospitals. This is part of the plan, as some glib proponents of ObamaCare have let slip.”

http://consultingbyrpm.com/blog/2013/09/obamacare-is-just-a-stepping-stone-to-nationalized-health-care.html

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Home Depot Sending 20,000 Part-Timers to Health Exchanges

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“Home Depot Inc. (HD), the world’s largest home improvement retailer, plans to end medical coverage for about 20,000 part-time employees and direct them to government-sponsored exchanges scheduled to open next month as companies revamp benefits to fit the U.S. Affordable Care Act.  Employees with fewer than 30 hours a week will no longer be offered limited liability medical coverage, Stephen Holmes, a spokesman, said today by telephone. About 5 percent of Atlanta-based Home Depot’s 340,000 employees are enrolled in that plan.  United Parcel Service Inc. (UPS), Trader Joe’s Co. and other employers have been cutting benefits ahead of next month’s roll-out.”

http://www.bloomberg.com/news/2013-09-19/home-depot-sending-20-000-part-timers-to-health-exchanges.html

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NHS watchdog: Nurses in tears as ‘horrendous’ understaffing hits patients

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“Nurses were reduced to tears by their workload at a Nottinghamshire hospital where understaffing contributed to patients being left hungry and dehydrated, the NHS watchdog has reported.  Their report came as new figures revealed that 5,500 nursing posts have now been cut since the Coalition came into office, increasing pressure on the health secretary Jeremy Hunt to act on repeated warnings over under-staffing. Frontline staff at Kings Mill Hospital, part of the Sherwood Forest Hospitals NHS Foundation Trust, told CQC inspectors that they were concerned low numbers of nurses and poor senior doctor cover were harming patient safety.”

http://www.independent.co.uk/life-style/health-and-families/health-news/kings-mill-hospital-nurses-in-tears-as-horrendous-understaffing-hits-patients-says-watchdog-8844917.html

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Seymour Hersh on bin Laden death: ‘One big lie, not one word of it is true’

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“Seymour Hersh has got some extreme ideas on how to fix journalism – close down the news bureaus of NBC and ABC, sack 90% of editors in publishing and get back to the fundamental job of journalists which, he says, is to be an outsider.  Holding court to a packed audience at City University in London’s summer school on investigative journalism, 76-year-old Hersh is on full throttle, a whirlwind of amazing stories of how journalism used to be; how he exposed the My Lai massacre in Vietnam, how he got the Abu Ghraib pictures of American soldiers brutalising Iraqi prisoners, and what he thinks of Edward Snowden.”

http://www.rawstory.com/rs/2013/09/27/seymour-hersh-on-death-of-osama-bin-laden-its-one-big-lie-not-one-word-of-it-is-true/

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Bombshell: Iran Contra Whistleblower Blows The Lid off Benghazi

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“Money makes the world go round.  Nowhere is this motto more relevant than in the shadowy world of smuggling weaponry and drugs, not to mention legal arms sales which all too often lead to modern weaponry falling into the hands of America’s worst enemies.
This all becomes evident when dissecting recent events such as the 2011 ouster of Libyan leader Muammar Gaddafi, the death of US Border Agent Brian Terry with weapons obtained through the government’s ‘Fast and Furious’ program, the 2012 murder of US Ambassador Christopher Stevens in Benghazi, and the arming of Syrian rebels attacking the government of Syrian President Bashar Assad.”

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Sophisticated U.S. Arms Flowing to Jihadists

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“Fox News is reporting a stunning theft of U.S. arms by jihadist salafists in Libya. This news item will be made much of by critics of Obama on the right. However, military and government blunders, cost overruns, unneeded weapons systems, and general mis-management are par for the course. Of more relevance is the light this sheds on the U.S. arms being shipped into Syria. There are no significant controls that prevent these arms from reaching the most terror-prone and jihadist elements among the Syrian rebels, whose numbers are large in proportion to all the rebels. This decision to ship arms was foolhardy from the get-go, and now it looks even more ill-conceived.”

http://www.lewrockwell.com/lrc-blog/sophisticated-u-s-arms-flowing-to-jihadists/

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White House to Give Detroit $300 Million in Federal Aid

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“Nearly $150 million of the proposed $300 million will go toward the demolition of Detroit’s many dilapidated and abandoned buildings.  Another $140 million will go toward the city’s public transportation system, including renovations for buses (including more security cameras) and the city’s now-under construction light-rail system.  Lastly, approximately $30 million will go toward hiring more firefighters to help the city deal with its arson problem and $3 million will go toward strengthening the city’s police force.  But although the funds may come as a blessing, they won’t even come close to addressing the city’s $18 billion in liabilities.”

http://www.theblaze.com/stories/2013/09/27/white-house-to-give-detroit-300-million-in-federal-aid/

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