Boston Lockdown: The New York Times Endorses U.S. Police State [globalresearch]

The New York Times published an editorial Monday that not only endorses last week’s police-military lockdown of Boston, but suggests that it was entirely consistent with democratic procedures. In “How to Handle a Terrorism Case,” the Times makes the absurd argument that the operation that led to the arrest of alleged Boston Marathon bomber Dzhokhar Tsarnaev was a vindication of “the fundamental rights that distinguish this country from authoritarian regimes.”

In the editorial, the leading organ of the “liberal” establishment shamelessly falsifies what actually occurred, omitting any mention of the use of National Guard troops, SWAT teams, machine-gun mounted armored vehicles and Black Hawk helicopters. It makes no mention of the order for some 1 million residents to remain in their homes or the warrantless house-to-house searches carried out by heavily armed police.

The piece begins by setting up Republican Senator Lindsey Graham as a right-wing foil, criticizing his call for Tsarnaev to be declared an enemy combatant and turned over to the military. The Times seeks to use the decision of the Obama administration to try Tsarnaev in a civilian court to whitewash the state of siege that was imposed during the manhunt for the terror suspect.

The newspaper writes: “Mr. Graham’s reckless statement makes a mockery of the superb civilian police work that led to the suspect’s capture, starting with askillful analysis of video recordings of the marathon. The law enforcement system solved the case swiftly and efficiently, led by the Federal Bureau of Investigation and the local police…” [Emphasis added].

Leaving aside the rapturous praise for the police and intelligence agencies, this account is utterly dishonest. Anyone reading it who was not familiar with the events of last Friday would have no idea what actually happened.

In passing, the Times bestows its blessings on the pervasive use of surveillance cameras in public places, something that has become a regular feature of American life although it violates constitutionally guaranteed privacy rights.

“Mr. Tsarnaev is a naturalized American citizen,” the editorial continues, “an inconvenient fact for the pressure-him-at-Gitmo crowd. He cannot be tried in a military commission, a legal system reserved for aliens. Even to be held by the military without trial would require a showing that he is associated with a declared enemy of the United States, such as Al Qaeda or the Taliban. So far there isn’t any visible connection between the Tsarnaev brothers and anyone more malevolent.”

 

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Fincen’s New Regulations Are Choking Bitcoin Entrepreneurs [americanbanker]

More than a decade ago, regulators nearly suffocated PayPal. Now it looks like they’re trying to squelch another disruptive, innovative payments system.

At least three exchanges in the U.S. that traded the digital currency Bitcoin have shut down, apparently as a result of guidance issued last month by the Financial Crimes Enforcement Network. That agency has emerged as the top threat, at least in in the United States, to the decentralized Bitcoin network – moreso than the widely reported price volatility and hacker attacks.

“They’ve been the single biggest factor for stomping out currency competition,” says Bradley Jansen, a former assistant to Rep. Ron Paul and director of the Center for Financial Privacy and Human Rights. Speaking recently on The Daily Bitcoin podcast with Adam Levine, Jansen expressed surprise at how little focus bitcoin business leaders are putting on Fincen, especially considering how regulators thwarted earlier emerging payment systems like PayPal and e-gold. PayPal obviously survived and prospered – but only after selling itself to eBay and agreeing to put restrictions on its service. E-gold was not so fortunate.

“Fincen was able to stop currency competition with technical innovations in the 90s even before their expanded powers under the U.S. Patriot Act. And, what we’ve got now is a Fincen on steroids without clear restrictions from Congress,” Jansen says.

 

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JPMorgan’s Eligible Gold Plummets 65% In 24 Hours To All Time Low [Zerohedge]

We are confident that in the aftermath of our article from last night “Just What Is Going On With The Gold In JPMorgan’s Vault?” in which we showed the absolute devastation of “eligible” (aka commercial) gold warehoused in JPM’s vault just over the Manhattan bedrock at 1 Chase Manhattan Place (and also in the entire Comex vault network in the past month), we were not the only ones checking every five minutes for the Comex gold depository update for April 25. Moments ago we finally got it, and it’s a doozy. Because in just the past 24 hours, from April 24 to April 25, according to the Comex, JPM’s eligible gold plunged from 402.4K ounces to just 141.6K ounces, a drop of 65% in 24 hours,and  the lowest amount of eligible gold held at the vault on record, since its reopening in October 2010!

Everyone has seen what a run on the bank looks like. Below is perhaps the best chart of what a “run on the vault” is.

 

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El Pais Article Discusses “Liberating Spain from Shackles of the Euro” [Mish]

The El Pais Screwdriver Blog openly asks “Are we to Liberate the Euro?

Here is a Mish-modified translation:

 Today Spain has reached a record number of unemployed. Although we do not like the current state of things, no one seems to know against whom to direct their anger.

Actually, we are under a dictatorship perhaps worse than the Portuguese or Spanish forty years ago because it is more subtle and works almost invisibly. And we can embody it too, not in an institution or a person, but with a symbol: the euro.

There are many reasons to believe that Spain would not be as bad off out of the single currency. To explore this question we must look at least three things: First, what is the profile of the countries that have left monetary unions? Second, what does empirical evidence tells us regarding effectiveness of countries have left currency unions? Third, what are the economic and social conditions that need to be taken into account in making such a decision?

Read more at http://globaleconomicanalysis.blogspot.com/2013/04/el-pais-article-discusses-liberating.html#3KADAW7obGvQRWht.99

The incredibly uneven recovery: Net worth of bottom 93 percent declines by $0.6 trillion while top 7 percent net worth increases by $5.6 trillion.

One unique signature of this economic recovery is how narrow it is.  When we look at actual wealth, thenet worth figures of Americans, we see some dismal numbers.  In fact, what we find really isn’t a recovery at all if we look at 93 percent of the country.  Then again, with most of Congress being millionaires they are so far removed from the real lives of the public that reality has become encapsulated in a very tiny bubble.  One piece of data that recently came out highlights this uneven recovery.  From 2009 to 2011, the heart of the so-called recovery, the net worth of Americans went up by $5 trillion.  Sounds great right?  Well, when the data is actually carefully examined we find out that the net worth of the bottom 93 percent of Americans actually fell by $0.6 trillion and the top 7 percent saw all the gains of $5.6 trillion.  In other words, for most Americans, this isn’t a recovery at all.

 

The uneven recovery

There is more mounting evidence that a modern day Gilded Age is in full effect:

us wealth

 

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The Gov’t Has No Solution: 1 In 4 Now Jobless in Spain – Spain’s Jobless Above 6 Million For First Time

Crisis for Europe as trust hits record low [Guardian]

EU flags

The poll found a vertiginous decline in trust in the EU in countries that were traditionally pro-European. Photograph: Ian Waldie/Getty Images

Public confidence in the European Union has fallen to historically low levels in the six biggest EU countries, raising fundamental questions about its democratic legitimacy more than three years into the union’s worst ever crisis, new data shows.

After financial, currency and debt crises, wrenching budget and spending cuts, rich nations’ bailouts of the poor, and surrenders of sovereign powers over policymaking to international technocrats, Euroscepticism is soaring to a degree that is likely to feed populist anti-EU politics and frustrate European leaders’ efforts to arrest the collapse in support for their project.

Figures from Eurobarometer, the EU’s polling organisation, analysed by the European Council on Foreign Relations (ECFR), a thinktank, show a vertiginous decline in trust in the EU in countries such as Spain,Germany and Italy that are historically very pro-European.

The six countries surveyed – Germany, France, Britain, Italy, Spain, andPoland – are the EU’s biggest, jointly making up more than two out of three EU citizens or around 350 million of the EU’s 500 million population.

The findings, published exclusively in the Guardian in Britain and in collaboration with other leading newspapers in the other five countries, represent a nightmare for Europe‘s leaders, whether in the wealthy north or in the bailout-battered south, suggesting a much bigger crisis of political and democratic legitimacy.

 

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