August 24, 2011

SA mine nationalization debate down but not out as Malema struggles

Mineweb.com | Jon Herskovitz

A debate on nationalising South Africa’s massive mining sector that is rattling markets is set to fade with its most outspoken proponent, ANC Youth League leader Julius Malema, facing charges from his owner party that could derail his political career.

In the past days, Malema has been hit with a disciplinary action where the ruling African National Congress could expel him from its ranks, a police probe into a possible slush fund and a public protector investigation on possible shady dealings by a construction firm linked to the youth leader.

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Why Are We Baiting the Bear

Lew Rockwell.com | Patrick J. Buchanan

Is the Senate trying to reignite the Cold War?

If so, it is going about it the right way.

Before departing for a five-week vacation, the Senate voted to declare Abkhazia and South Ossetia to be provinces of Georgia illegally occupied by Russian troops who must get out and return to Russia.

The Senate voice vote was unanimous.

What is wrong with Senate Resolution 175?

Just this. Neither Abkhazia nor South Ossetia has been under Georgian control for 20 years. When Georgia seceded from Russia, these ethnic enclaves rebelled and seceded from Georgia.

Abkhazians and Ossetians both view the Tblisi regime of Mikhail Saakashvili, though a favorite of Washington, with contempt, and both have lately declared formal independence.

Who are we to demand that they return to the rule of Tblisi?

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Gold Market Update

Gold321.com | Clive Maund

In the last update, despite being extremely overbought, gold was expected to advance to even higher levels, for various reasons, principally the COT readings and the bullish volume pattern. I gave a target in the $1900 area, and that target was very nearly attained on Friday when gold hit $1881 intraday, before reacting back to close well off its day’s highs.

Gold is now monstrously overbought and has finally caught the attention of the mainstream media who are all over it. These factors alone are regarded as making the probability of it reversing soon very high, and if we look at the charts we can see good reasons why it should react back shortly.

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The Illusion of Safety

Texas Straight Talk | Congressman Ron Paul

Recent incidents of violence in Norway and London have made us understandably uncomfortable here at home, as many fear that a worsening economy will lead to violence and unrest in American cities. This is why Congress must view the economy as its first priority and a matter of national security: unless and until we get our fiscal house in order to foster economic growth, civil society will continue to deteriorate.

The fundamental lesson every American should learn from these incidents is that government cannot protect us. No matter how many laws we pass, no matter how many police or federal agents we put on the streets, a determined individual or group can still cause great harm. Both Norway and England have strict gun control laws, and London in particular has security cameras monitoring nearly all public areas. But laws and spy cameras are useless in the face of lawless mobs or sick mass killers. Only private individuals on the scene could have prevented or lessened these tragedies. And we should remember that theft, arson, and property damage were not the only criminal acts in London–innocent bystanders were assaulted and killed as well. In those instances deadly force used in self-defense would have been fully justified.

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MI6 Directed Rebel Terrorists In Tripoli Siege

Infowars.com | Paul Joseph Watson

Even as the establishment media continues to portray the rebel assault on Tripoli as some kind of organic uprising, it has now been admitted that British intelligence played a key role in directing the siege, and in doing so continued their long-standing relationship with Al-Qaeda terrorists.

“MI6 officers based in the rebel stronghold of Benghazi had honed battle plans drawn up by Libya’s Transitional National Council (TNC) which were agreed 10 weeks ago,” reports the London Telegraph.

“The constantly-updated tactical advice provided by British experts to the rebel leaders centred on the need to spark a fresh uprising within Tripoli that could be used as the cue for fighters to advance on the city.”

The MI6-orchestrated raid on Tripoli was preceded by bombing runs by RAF fighter jets over the weekend that targeted key Gaddafi communications facilities.

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New national debt data: It’s growing about $3 million a minute, even during his vacation

Los Angles Times | Andrew Malcolm

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New national debt data: It’s growing about $3 million a minute, even during his vacation
August 23, 2011 | 5:32 am

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Obama Reid Pelosi happy, file

Swallow all liquids in your mouth before reading any further.

Updated numbers for the national debt are just out: It’s now $14,639,000,000,000.

When Barack Obama took the oath of office twice on Jan. 20, 2009, CBS’ amazing number cruncher Mark Knoller reports, the national debt was $10,626,000,000,000.

That means the debt that our federal government owes a whole lot of somebodies including China has increased $4,247,000,000,000 in just 945 days. That’s the fastest increase under any president ever.

Remember the day the Democrat promised to close the embarrassing Guantanamo Bay Detention Facility within one year? That day the national debt increased $4,247,000,000. And each day since that the facility hasn’t been closed.

Same for the day in 2009 when Obama flew all the way out to Denver to sign the $787 billion stimulus bill that was going to hold national unemployment beneath 8% instead of the 9.1% we got today anyway? Another $4,247,000,000 that day. And every day since, even Obama golfing and vacation days.

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China Offshoring The Collapse Of The Western World

The Trends Journal | Paul Craig Roberts

How big is planet earth? Large if compared to the moon, small if compared to the solar system, and infinitesimal if compared to the universe. The point is that the size of something depends on that to which it is being compared.

The San Francisco Federal Reserve Bank http://www.frbsf.org and offshoring’s shills forgot this simple point. On August 8 the SF Fed put out an Economic Letter in which US imports of goods made in China (both by Chinese and US firms) were explained away as a mere 2.7 percent of US personal consumption expenditures.

I am confident that the staff of the SF Fed were competent to get the percentage correct. But does it mean anything? No.

For most Americans, their income is used up on housing, energy, car payments, food, and medical care. Very little income is left, especially these days, for durable (for example, furniture and household equipment) and nondurable (for example, clothing and shoes) manufactured goods.

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FCC finally kills off fairness doctrine

Politico | BROOKS BOLIEK

The FCC gave the coup de grace to the fairness doctrine Monday as the commission axed more than 80 media industry rules.

Earlier this summer FCC Chairman Julius Genachowski agreed to erase the post WWII-era rule, but the action Monday puts the last nail into the coffin for the regulation that sought to ensure discussion over the airwaves of controversial issues did not exclude any particular point of view. A broadcaster that violated the rule risked losing its license.

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U.S. Pledges No Ground Troops in Libya, But…

Wired | Spencer Ackerman

Through six months of war in the skies over Libya, the Obama administration has had one big, fat red line: it won’t put any troops on the ground. Except that red line turned out to be permeable, as CIA operatives made their way to the shores of Benghazi. And as the fall of Tripoli turns into a battle for the city, NATO isn’t closing the door on sending western peacekeeping forces to Libyan soil.

During a press conference on Tuesday in Brussels, NATO spokeswoman Oana Lungescu assured that there will be “no NATO troops on the ground in the future.” Only Lungescu left herself some wiggle room. Should the United Nations or Libyan revolutionaries request it, NATO “is willing to help in a supporting role,” she said, without elaborating.

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