Tens of thousands protest against India cash ban

“India is still reeling from Prime Minister Narendra Modi’s shock decision nearly three weeks ago to pull 86 percent of the currency from circulation overnight, triggering a chronic shortage of cash.  Many have been left without enough cash to buy food or daily essentials, while farmers have been unable to buy seeds and small traders say business has fallen off a cliff.  Nonetheless Modi has repeatedly defended the scheme, accusing its detractors of being tax evaders and urging all Indians to switch to non-cash payment methods.”

http://www.aljazeera.com/news/2016/11/tens-thousands-protest-india-cash-ban-161128140259051.html

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Another driver killed with stuck accelerator at 119mph

Months after Russian President Vladimir Putin’s personal chauffeur was killed in an unexplained high-speed head-on collision, another driver has suffered the same fate after begging police for help for eight minutes prior to the collision:

Kaushal Gandhi, from Harrow, north London, died instantly when his car hit a stationary 18-tonne lorry on the M40 in Buckhinghamsire  in February  – leaving the vehicle crushed with the roof peeled back.

The 32-year-old called the emergency services while behind the wheel of his Skoda Octavia and said he could not stop the vehicle from accelerating. A recording of the eight-minute call he made was played at the inquest into his death.

In 2013, Rolling Stone investigative reporter Michael Hastings was killed when his car suddenly accelerated, spun out of control, and inexplicably detonated on impact.  Hastings had authored an exposé of U.S. General Stanley McChrystal for Rolling Stone that had caused the general’s resignation.

Previously, tin whiskers had been implicated in sudden unexplained acceleration.  In these cases, a naïve analysis of the vehicle black box would indicate driver error as the cause of the crash, even though the accelerator input would actually have been subject to an unintended short circuit, making it appear as if the driver were to blame.

In 2015, researchers demonstrated that a car could be remotely hacked via its liability insurance company’s monitoring dongle to apply and disable brakes while the car was in motion, among other features.

In 2016, automotive cybersecurity researchers presented an array of attacks against a 2014 Jeep Cherokee that added various trojan-horse methods to existing remote control methods to variously hijack a vehicle’s acceleration, braking, and steering components.

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India Bank Adviser Proposes Regular, ‘Surprise’ Cash Bans

To combat Indian savers’ attachment to cash and distrust of banks, Soumya Kanti Ghosh, the group chief economic adviser of the State Bank of India (SBI), the largest bank in the country, proposed that the government should ‘surprise’ Indians with cash bans on an ongoing basis, so as to discourage people from holding cash.

The effect of the present Indian demonetization effort has been chaos, with at least 47 Indians reported dead in the aftermath due to queueing at banks and other factors.

Earlier this year, Harvard professor Kenneth Rogoff had demanded a ban on US $20 and higher denomination bills, while insider Larry Summers had recommended banning the $100 bill.

If these academics have their way, government-backed paper money will further approach its intrinsic value – zero.  They hope that this will drive cash-based savings into bank deposits, which generate fee revenue and a source of leverage for the banks while at the same time supplying governments with taxes and police oversight of citizens’ financial lives.  However, governments attempting to eliminate cash usage risk destroying trust in the ‘coin of the realm’, leading to cash-based savings being moved into assets such as real estate, precious metals, and cryptocurrencies instead of bank deposits.

But the ubiquity of cash clearly persists, even in the US:

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Why are so many bankers committing suicide?

“Three bankers in New York, London and Siena, Italy, died within 17 months of each other in 2013-14 in what authorities deemed a series of unrelated suicides. But in each case, the victim had a connection to a burgeoning global banking scandal, leaving more questions than answers as to the circumstances surrounding their deaths.”

http://nypost.com/article/why-are-so-many-bankers-committing-suicide/

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Nuclear weapon missing since 1950 ‘may have been found’

“The story of the lost nuke has mystified military historians for more than half a century. In 1950, American B-36 Bomber 075 crashed near British Columbia on its way to Carswell Air Force Base in Texas. The plane was on a secret mission to simulate a nuclear strike and had a real Mark IV nuclear bomb on board to see if it could carry the payload required.  Several hours into its flight, its engines caught fire and the crew had to parachute to safety. Out of a 17-person crew, five didn’t make it.”

http://www.bbc.com/news/world-us-canada-37875697

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Radical Islam: Byproduct of U.S. policies dating back to Woodrow Wilson

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“Eventually, the regions created by Sykes-Picot would cease being mandates/colonies. They would become independent nations. But these nations were Frankenstein monsters. They contained unstable mixtures of Arabs, Persians, and Kurds — of Sunni and Shia. This instability led to a long succession of dictators, who held these unnatural states together by brute force. For the remainder of the 20th Century, Britain, France, Soviet Russia, and the United States would back these strongmen to contain angry Muslims in these territories.”

https://downsizedc.org/blog/radical-islam-byproduct-of-us-policies-dating-back-to-woodrow-wilson

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Was World War 2 a “good war?”

“Too many Americans assume that every conflict must have a good side and a bad side.  Not true. More often than not both sides are bad. That was certainly the case both in WW1 and with Chiang Kai-shek versus Japan.  Adults realize that some situations are unfixable. You just have to wait them out because any effort to intervene just makes matters worse. Sadly…  The closer you look, the worse the case against the U.S. war with Japan becomes. If you’re going to pick a fight with someone, as FDR did with Japan, and then sacrifice vast wealth and innocent young lives to that purpose, you had better make damned sure you leave things better than you found them. But the exact opposite happened in the case of the Pacific War.”

https://downsizedc.org/blog/was-world-war-2-a-good-war

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German bank starts charging customers to hold their cash

“When the European Central Bank introduced a negative interest rate on lenders’ deposits two years ago, few thought things would ever go this far.  This week, a German cooperative savings bank in the Bavarian village of Gmund am Tegernsee — population 5,767 — said it’ll start charging retail customers to hold their cash. From September, for savings in excess of 100,000 euros (US$111,710), the community’s Raiffeisen bank will take back 0.4 per cent.  Introducing the sub-zero policy in June 2014 with a cut to the deposit rate to minus 0.1 per cent, ECB President Mario Draghi said the move was ‘for the banks, not for the people.'”

http://business.financialpost.com/news/economy/german-bank-starts-charging-customers-to-hold-their-cash-in-negative-interest-rate-world

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Wall Street Can’t Agree on When to Halt the U.S. Stock Market

“On Thursday, the nation’s three major exchange operators upgraded their rules to help prevent a repeat of the chaos seen on Aug. 24, 2015, when many securities suddenly sank. But a major sticking point remains, according to an official who spoke at an event hours after NYSE Group, Nasdaq Inc. and Bats Global Markets Inc. announced their changes.  The U.S. stock market has a circuit breaker that briefly stops all trading when there’s a big enough decline. It imposes a 15-minute pause when a 7 percent drop occurs, another 15-minute suspension at 13 percent, and a full-day halt at 20 percent.”

http://www.bloomberg.com/news/articles/2016-08-12/wall-street-can-t-agree-on-when-to-halt-the-u-s-stock-market

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Despite all-time highs, many investors are cashing out of stock mutual funds

“The latest data from fund-industry group ICI shows domestic stock funds suffered a net outflow of $7.4 billion in the week ended Aug. 3. Since the week ended July 6 — which was the week before the Standard & Poor’s 500 stock index hit its first of eight record highs — fund investors have yanked a net $37.4 billion out of long-term mutual funds that invest in American companies.  As has been the case in recent years, money flowed into bond funds, despite the fact that yields on most fixed-income assets, such as U.S. government bonds, high-yield corporate bonds and other income-producing investments, are at or near record lows.”

http://www.usatoday.com/story/money/markets/2016/08/11/many-cashing-out-stock-mutual-funds/88546132/

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