Monthly Archives: May 2015

US troops invade Syria, kill ISIS commander Abu Sayyaf

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“U.S. Special Operations forces carried out a major raid deep inside eastern Syria, killing a senior Islamic State leader who oversees illicit oil production and capturing his wife, Secretary of Defense Ashton Carter said Saturday.  Carter said Abu Sayyaf, also known as Mohammed Shalabi, ‘was killed during the course of the operation when he engaged U.S. forces.’  He said none of the U.S. forces was killed or injured during the raid.  Abu Sayyaf was involved in the extremist group’s military operations and helped direct its illicit oil, gas and financial operations, Carter said in a statement.”

http://hotair.com/archives/2015/05/16/us-troops-kill-isis-commander-abu-sayyaf-inside-syria/

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NFL teams paid off by military to honor soldiers

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“The New York Jets and other NFL teams have reportedly accepted $5.4 million from the Department of Defense to stage game-day ceremonies honoring soldiers that are little more than publicity stunts.  The Jets accepted payments totaling $377,000 from 2011 to 2014 for the phony salutes, and millions more were shelled out to 11 other NFL franchises, according to New Jersey’s Star-Ledger.  The Pentagon’s taxpayer bucks to the Jets buy a ‘Hometown Hero’ segment, where a soldier or two is shown on the big screen. Their names are blared through the stadium as the crowd is asked to thank them for their service.”

http://nypost.com/2015/05/11/nfl-teams-paid-off-by-military-to-honor-soldiers/

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‘Fake’ Reform: Little to Celebrate as USA Freedom Act Passes House

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“Despite strong objections from critics, the bill reauthorized Section 215 for other uses and expanded other surveillance mechanisms and powers for government agencies.  Though some progressive groups found it possible to support the bill for its strong stance against the domestic phone records program, tougher critics said that though they welcome the end of that specific program, the USA Freedom Act’s re-authorization of broader Patriot Act powers could not be ignored.  Advocacy groups like the Electronic Frontier Foundation and the ACLU had offered some initial support to earlier versions of the bill, but both groups ultimately withdrew their backing of the law once it reached its final form.”

http://www.commondreams.org/news/2015/05/14/fake-reform-little-celebrate-usa-freedom-act-passes-house

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GOP Senator: Phone Records Not Enough, Calls For NSA Expansion

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“The Chairman of the Senate Foreign Relations Committee said on Wednesday that the NSA’s metadata collection program needs to be expanded, adding that he was ‘shocked’ to learn ‘how little data’ was actually being collected.  Senate Majority Leader Mitch McConnell (R-KY) has called for a full reauthorization of the Patriot Act, while Senator Rand Paul (R-KY) said he would lead the charge against reauthorization of the bill.  A new bill, the USA Freedom Act, would reportedly end the massive collection of telephone metadata in the U.S. But Corker said he opposes the legislation because the metadata collecting program ‘needs to be ramped up hugely.'”

http://www.ijreview.com/2015/05/320569-top-gop-senator-says-obamas-collection-phone-record-not-enough-calls-expansion-program/

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Tanzania: Our Case For Investment

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“The Dar es Salaam Stock Exchange (DSE), founded in 1996, has a market cap of approximately USD $13 billion and has been perceived as unexciting by investors in recent years. That may be about to change, however. For years the government restricted the level of foreign ownership of domestic companies to 60%, but in September it scrapped the cap on foreign ownership, making listings by local companies in search of foreign capital more attractive and likely.  DSE CEO Moremi Marwa says he expects up to six new listings in 2015.  In 2014, the Dar es Salaam Stock Exchange was the best performing market in sub-Saharan Africa with a USD return of 23.4%.”

http://seekingalpha.com/article/3103096-tanzania-our-case-for-investment

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Why is the Tanzanian government making information illegal?

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“Despite global attention to recent corruption scandals in Tanzania, public opinion data indicate that domestic awareness of the scandals is shockingly low. The graph below — which would be illegal to publish under the Statistics Bill — indicates that less than half of citizens in mainland Tanzania ‘knew of’ five recent high-level corruption scandals. These corruption scandals have been consequential for Tanzania’s good standing amongst donors. In October 2014, donors withheld nearly $500 million in aid until action was taken in response to the multimillion-dollar energy scandal. As of last month, only $44 million had been released, following the resignation of three cabinet ministers.”

http://www.washingtonpost.com/blogs/monkey-cage/wp/2015/04/15/why-is-the-tanzanian-government-making-information-illegal/

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The Anti-Hong Kong: Tanzania Bans Private Statistics

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“The government did what any embarrassed, fearful autocrats would do: they passed a bill to outlaw ‘false’ statistics — meaning only official numbers will be allowed. Another of six similar bills rushed through the legislature makes it illegal to publish information that is ‘defamatory,’ likely to ‘disturb the public peace,’ or ‘misleading or inaccurate.’  What are ‘false statistics’? What counts as ‘misleading’ or ‘disturbing’? Nobody is sure, since the government hasn’t bothered to publish the final versions of the acts it passed, but we do know who will get to decide — and the punishment could include a prison sentence of up to three years.”

http://fee.org/anythingpeaceful/detail/tanzania-becomes-the-anti-hong-kong-bans-private-statistics

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Tomorrow’s Advance Man: Marc Andreessen’s plan to win the future

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“Peter Thiel favors ‘seasteading,’ establishing floating cities in the middle of the ocean. Balaji Srinivasan, until recently a general partner at a16z, has called for the ‘ultimate exit.’ Arguing that the U.S. is as fossilized as Microsoft, and that the Valley has become stronger than Boston, New York, Los Angeles, and Washington, D.C., combined, Srinivasan believes that its denizens should ‘build an opt-in society, ultimately outside the U.S., run by technology.’  [..] The game in Silicon Valley is prescience, and then it’s removing every obstacle to the ferocious clarity of your vision: incumbents, regulations, folkways, people. Can you not just see the future but summon it?”

http://www.newyorker.com/magazine/2015/05/18/tomorrows-advance-man

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$50bn Asian infrastructure bank approves 57 founding members

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“The China-led Asian Infrastructure Investment Bank (AIIB) has approved 57 countries as founding members after including an extra seven, according to China’s Finance Ministry. The AIIB is an ‘open and inclusive multilateral development bank,’ China’s Vice Finance Minister Shi Yaobin was cited as saying by Xinhua news agency. The 57 founding members cover five continents, including Asia, Oceania, Europe, Latin America and Africa, according to Shi. The founding members will have priority over other countries which might sign up later, as they possess the right to establish the rules for the bank. Russia became a founder of the AIIB after applying for membership.”

http://rt.com/business/249873-aiib-countries-membership-ministry/

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Liquidity drought could spark market bloodbath, warns IIF

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“Investment banks, which traditionally supported liquidity in times of stress, have been shrinking their activities.  Corporate bond inventories have fallen by 75pc in the US and 50pc in Europe since 2007, according to IIF data. While much of this has been driven by banks unwinding large credit books, regulation has also discouraged them from holding large quantities of bonds that could help cushion violent swings in prices.  Mr Adams said a ‘dramatic revolution’ of the players and risks of market making had also pushed risk ‘out into the shadows’ of non-bank lending. Mr Adams warned that the US Federal Reserve’s first interest rate rise in almost a decade would also cause disruption.”

http://www.telegraph.co.uk/finance/markets/11581820/Liquidity-drought-could-spark-market-bloodbath-warns-IIF.html

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