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Changing the old system.

Spanish unemployment hits record high 24.6 percent

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SFGate.com

CIARAN GILES, Associated Press,
HAROLD HECKLE, Associated Press
Updated 12:46 p.m., Friday, July 27, 2012

Taxis block a main street during a demonstration by taxi drivers in Madrid, Friday, July 27, 2012. The taxi drivers are protesting the planned deregulation of the taxi sector. Photo: Paul White / AP

Taxis block a main street during a demonstration by taxi drivers in Madrid, Friday, July 27, 2012. The taxi drivers are protesting the planned deregulation of the taxi sector. Photo: Paul White / AP
 

MADRID (AP) — The number of people unemployed in Spain hit a record high, official figures showed Friday, as the International Monetary Fund urged European leaders to quickly fulfill their promises to help the country and the 17-country eurozone.

Libor reveals a rotten financial system

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philly.com

July 24, 2012

By Elizabeth Warren
 
The Libor scandal is more than just the latest financial deception to come to light. It exposes a fraud that runs to the heart of our financial system.

Libor, the London interbank offered rate, is a benchmark for a range of interest rates, and the misdeeds making headlines have to do with how those rates are set. If insiders can manipulate the basic measurement of a loan — the interest rate — there is rot at the core of the financial system.


To read the rest of this story, visit philly.com.

Global super-rich hide $21 trillion in tax havens

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CNN.com
By Yenni Kwok, for CNN

July 25, 2012 -- Updated 0715 GMT (1515 HKT)
 
Switzerland is among the world's most popular tax havens, according to the advocacy group Tax Justice Network
Switzerland is among the world's most popular tax havens, according to the advocacy group Tax Justice Network
 

(CNN) -- The world's super-rich had between $21 trillion and $32 trillion of wealth hidden in tax havens by the end of 2010, a new study says.

The size of these unreported financial assets is equivalent to, or even larger than, the combined GDPs of the United States and Japan, representing up to $280 billion in lost tax revenues.

Report: North Korea Finalizes Power Transition

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VOANews.com

July 25, 2012

 

North Korean leader Kim Jong Un (File)

SEOUL — A just-released independent, non-government report on North Korea concludes the transfer of power to Kim Jong Un is already complete. And, the report by the International Crisis Group predicts prospects for reform in the impoverished country are dim and the young leader could well be around for decades, with a growing nuclear arsenal.

The International Crisis Group in a report released Wednesday says despite this month's removal of a top military figure, there are no clear signs of any conspiracy to overthrow North Korea's new, young leader.

 

The Air Force Exploration of Pulse-Train Plasmoid Guns

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TopSecretWriters.com
Dennis Dufrene
 

plasma weapons

In 1956, Winston Bostick discovered an entity consisting of plasma and magnetic field, which he named the Plasmoid(1).

Plasmoids have a series of cosmic implications and is used to explain various phenomenon, such as the magnetic plasma structures found in comet tails, solar wind, and solar atmosphere.

However, barely four years after the discovery of the Plasmoid, the U.S. government conducted research into the possibility of using Plasmoids as a weapon. TheBlackVault.com acquired a Defense Technical Information Center report through an FOIA request on the matter.

The 1961 report, titled Investigation of Pulsed-Train Plasmoid Weapons, describes the experimental programs, and provides insight into the research and the lab results.

Study says student loans mirror subprime lending bubble

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stltoday.com
July 22, 2012 12:00 am
BY DANIEL WAGNER
Associated Press

 

WASHINGTON • Risky lending caused private student loan debt to balloon in the past decade, leaving many Americans struggling to pay off loans that they can't afford, a government study says.

Private lenders gave out money without considering whether borrowers would repay, then bundled and resold the loans to investors to avoid losing money when students defaulted, according to the study released Friday.

To read the rest of this story, visit St.Louis Post-Dispatch.

North Korea’s Kim Jong-un to reform economy after purge: Report

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thestar.com
Published on Friday July 20, 2012

Benjamin Kang Lim

Reuters

BEIJING- Impoverished North Korea is gearing up to experiment with agricultural and economic reforms after young leader Kim Jong-un and his powerful uncle purged the country’s top general for opposing change, a source with ties to both Pyongyang and Beijing said.

Kim Jong-un

KRT/Reuters File Photo
 

North Korea military chief removed

N.Korean Army Chief's Ouster 'Carefully Plotted'

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GFP Note: See this recent article for another perspective on this story.

 

english.chosun.com

 

Jul. 23, 2012 10:19 KST

Ri Yong-ho
Ri Yong-ho
The North Korean regime meticulously planned the ouster of Army chief Ri Yong-ho, informed sources here said Sunday.

One source said North Korean eminence grise Jang Song-taek, the uncle of leader Kim Jong-un, and Vice Marshal Choe Ryong-hae prepared the firing by checking ammunition supplies at military bases directly under Ri's command and stepped up surveillance of any army divisions Ri could mobilize in his defense.

To read the rest of this story, visit The CHOSUNILBO.

 

Western bankers use weapons of mass financial destruction: Analyst

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PressTV.ir
Thu Jul 26, 2012

8:31AM GMT
 

A newly published report has revealed that a minority of “super-rich elite” from across the world have hidden more than USD 21 trillion in tax havens.
 



According to report published on July 21by the UK newspaper Guardian, at least £13 trillion (USD 20 trillion) has leaked out of scores of countries into states including Switzerland and the Cayman Islands with the help of private banks and the exploitation of tax loopholes.

The report also found that two Swiss private banks, UBS and Credit Suisse along with the US investment bank Goldman Sachs, managed more than £4 trillion in 2010, which shows a three-fold increase compared to five years earlier.

To read the rest of this story and see the video, visit PressTV.

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