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``The reason why Spain is spiralling into deeper depression is because EMU policy settings are contractionary... The reason why Spain's €100bn bank rescue has failed to stem the crisis is because the EU summit deal in late June has proved to be a sham. It did not break the deadly link between banks and sovereigns, as originally claimed.''
According to Mathew Ingram at GigaOM, there is apparently a raging debate over whether or not Twitter would actually benefit as a service if users had to pay to use it. I'll admit to being a little bit surprised when I saw this, but digging into the details brought what I think is a wonderful conclusion as to why the answer is definitively "no".
This all more or less started (or at least really took off) when Dalton Caldwell, who founded Imeem, announced he wanted to create a for-pay
Read more: Techdirt.
As I indicated previously, my best guess is that the CFTC was compromised in dealing appropriately with the silver manipulation by interference from the US Treasury Secretary who oversaw the takeover of Bear Stearns (and its giant silver and gold short positions) by JPMorgan. It now appears clear that JPMorgan extracted guarantees of future immunity for manipulation as a condition of the takeover. The Bear Stearns takeover gave JPMorgan a free "get out of jail" card from the US Treasury Dept for the continued silver manipulation. In the political pecking order, the CFTC is many rungs below
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``When WikiLeaks was initially targeted by the Justice Department for investigation under the Espionage Act, there was very little criticism of the move, either from traditional media outlets like the New York Times (which has had a somewhat fractious relationship with WikiLeaks in the past) or from free-press advocates. It was as though no one wanted to admit that the same forces that were going after WikiLeaks for revealing government data could just as easily be directed at mainstream journalists. Now those particular chickens appear to be coming home to roost.''
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LOS ANGELES (Reuters) - Consumers who dream of watching HBO hits like "The Sopranos" or "Game of Thrones" by streaming to TVs using their Netflix accounts shouldn't hold their breath.
Read more: Reuters: Top News
AURORA, Colo. (Reuters) - A 21-year-old woman who escaped injury in the Colorado theater shooting rampage gave birth to a baby boy on Tuesday while her husband was in the same hospital in a medically induced coma with a gunshot wound to the head.
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A four-year probe of potential price manipulation in the silver market may be completed as early as September, according to Bart Chilton, a member of the U.S. Commodity Futures Trading Commission."I am hopeful and expect the silver investigation to conclude in the not-too-distant future, hopefully in September or October," Chilton, a 52-year-old Democrat, said in an e- mail. "It has already taken way too long."
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``The European Central Bank (ECB) on Friday said that it would no longer accept Greek bonds and other collateral used by Greek banks to tap into ECB funding until after Greece talks with its international creditors.''
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``The German news magazine Spiegel reports that the IMF has told the EU it will provide no additional funds for Greece. The report has sparked fresh fears that Greece could fall into bankruptcy by the autumn.''
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``Prosecutors in Washington DC are understood to be furthest advanced towards making arrests. In the UK the Serious Fraud Office has said it will investigate the alleged manipulation of Libor and other interest rate benchmarks but has yet to make decision over whether there is enough evidence to prosecute.
Arrest and criminal charges are expected to be made within the coming weeks.''
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``The ranks of America's poor are on track to climb to levels unseen in nearly half a century, erasing gains from the war on poverty in the 1960s amid a weak economy and fraying government safety net. ''
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The Irish proved today they are serious about investigating and prosecuting banking crime perpetrated in the lead up to the financial crisis of 2008. The former Chief Executive and Chairman of Anglo Irish Bank Seán FitzPatrick was arrested at 5:30am local time this morning in Ireland as he departed his flight from the US. FitzPatrick appeared Read the Rest...
Read more: Silver Doctors
JAKARTA (Reuters) - A strong earthquake with a magnitude of 6.6 struck off northern Sumatra in Indonesia on Wednesday, the U.S. Geological Survey said, but authorities said there was little chance of a tsunami.
Read more: Reuters: Top News
``Today John Embry stunned King World News when he warned, "We are moving toward a fundamental shortage of gold, and I believe it may start as soon as next month." Embry also cautioned, "The problem now is that the global economy is contracting at a time when the debt levels are catastrophically high." '' -- He's right; you CAN have a shortage of gold if the price is not allowed to rise...
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... the key point here is that while the Bernanke Fed has sat on hold, other central banks are cutting rates, reducing reserve requirements, buying equities and ceasing to pay interest on excess reserves. That has caused the U.S. dollar to rise 12% in the past year. This factor alone has stoked Bernanke's deflation phobia to an unbearable degree.
I believe the cyclical period of deflation that I warned about several months ago is now close to an end. The Fed feels foolishly compelled to stop the rise of the U.S. dollar and will soon opt to follow the lead from the ECB and stop paying
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``Lombardi asserts that China is set to take the lead from India as the largest purchaser of gold bullion in 2012.''
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SYDNEY (Reuters) - A strong earthquake with a magnitude of 6.6 struck off northern Sumatra in Indonesia on Wednesday, the U.S. Geological Survey said, and there were warnings that a local tsunami was possible.
Read more: Reuters: Top News
SAN FRANCISCO (Reuters) - Apple Inc's results fell short of Wall Street's expectations as the European economy sagged and consumers held off on buying its flagship iPhone ahead of a new version expected in the fall, hitting its stock price.
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Digital cameras are getting better all the time, but our natural vision only seems to degrade over time. (Almost everyone over forty years old will suffer from some kind of presbyopia.) There may be technological solutions to improving human vision, but so far, projects like Google Glass are more about augmenting vision, not necessarily improving a user's sight. Here are just a few interesting projects working on useful eye prosthetic devices.
Paul Bach-y-Rita is a neuroscientist working on
Read more: Techdirt.
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