Monthly Archives: March 2014

“I Will Never Go Back”: why the Ukrainians did what they did

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“Our hosts for the evening were an oncologist and his wife, a music teacher, and we were guests in their home—a small two-bedroom apartment where they lived with their son. The oncologist’s hospital, which we had toured earlier that day, was a converted horse barn; his office was a former stall. His colleague and other dinner guest was a cardiologist who had spent a few months in the 1980s in the United States on a medical exchange program—by chance at the same hospital where Sandra had been born 40 years earlier. Both were in their early 50s and had grown up in the Soviet system. To protect them now I will call them ‘Sergei’ and ‘Vlad,’ respectively.”

http://www.fee.org/the_freeman/detail/i-will-never-go-back

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Gold Fix Study Shows Signs of Decade of Bank Manipulation

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“The London gold fix, the benchmark used by miners, jewelers and central banks to value the metal, may have been manipulated for a decade by the banks setting it, researchers say.  The paper is the first to raise the possibility that the five banks overseeing the century-old rate — Barclays Plc, Deutsche Bank AG (DBK), Bank of Nova Scotia (BNS), HSBC Holdings Plc (HSBA) and Societe Generale SA (GLE) — may have been actively working together to manipulate the benchmark. Authorities around the world, already investigating the manipulation of benchmarks from interest rates to foreign exchange, are examining the $20 trillion gold market for signs of wrongdoing.”

http://www.bloomberg.com/news/2014-02-28/gold-fix-study-shows-signs-of-decade-of-bank-manipulation.html

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RBS has lost all the £46bn pumped in by the taxpayer

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“Royal Bank of Scotland has lost all the money invested in it by the taxpayer six years ago when the lender came close to collapse.  The bank has confirmed its total losses since its bailout have now drawn level with the £46bn pumped into it in 2008 in return for an 81pc stake.  RBS made a loss last year of £8.2bn, its sixth consecutive annual loss, taking its cumulative losses to £46bn.  The scale of the losses means that all the capital provided by the taxpayer has now been used up dealing with the toxic legacy assets on the bank’s balance sheet.  Despite, the loss RBS said it had put aside £576m to pay staff bonuses for 2013.”

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10664372/RBS-has-lost-all-the-46bn-pumped-in-by-the-taxpayer.html

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Ukraine PM says $37 billion went missing under Yanukovich

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“Ukraine’s new prime minister said on Thursday loans worth $37 billion had gone missing from state coffers during ousted President Viktor Yanukovich’s rule, and warned that unpopular measures were needed to salvage the economy.  In addition to the missing $37 billion, Yatseniuk said as much as $70 billion had been sent out of the country during Yanukovich’s three-year rule, although he did not make clear how much of this capital flight was illegal.  ‘I want to report to you – the state treasury has been robbed and is empty,’ he said before the national assembly voted him in as head of a national unity government.”

http://www.reuters.com/article/2014/02/27/ukraine-crisis-economy-idUSL6N0LW44M20140227

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Obama ‘deeply concerned,’ warns Russia against Ukraine intervention

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“‘We are now deeply concerned by reports of military movements taken by the Russian Federation inside of Ukraine,’ he told reporters.  ‘Any violation of Ukraine’s sovereignty and territorial integrity would be deeply destabilizing,’ he said in a brief appearance. ‘The United States will stand with the international community in affirming that there will be costs for any military intervention in Ukraine.’  The U.N. Security Council called an emergency session for later on Friday at the request of Ukraine’s new leaders, who warned the country’s territorial intergrity was threatened.  Any armed confrontation in Crimea would have major global repercussions.”

http://www.chicagotribune.com/news/chi-ukraine-russia-20140227,0,2508829,full.story

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