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historic climate march, arrests and outrage at Flood Wall Street

Xeni Jardin at 1:34 pm Mon, Sep 22, 2014

 

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NYPD officers arrest a Flood Wall Street participant in Lower Manhattan, Sep. 22, 2014. Hundreds marched through the financial district to call attention to capitalism’s contribution to climate change, snarling traffic and risking arrest as they sought to block Wall Street. REUTERS/Adrees Latif

Today, hundreds gathered in New York City’s financial district to protest climate change. Flood Wall Street demonstrators wore blue as a symbol of climate change-induced flooding, and marched in the financial district to “highlight the role of Wall Street in fueling the climate crisis,” organizers said.

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Today’s march follows Sunday’s international day of action that drew more than 300,000 demonstrators to NYC streets in the largest single protest ever held over climate change.

NYPD won’t release official arrest numbers yet, but Twitter coverage indicates arrests are under way, as some participants engage in planned peaceful civil disobedience.

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From the Guardian:

The demonstration comes a day ahead of the United Nations climate summit and follows Sunday’s People’s Climate March – which saw what organizers estimated was 310,000 people marching in New York City, and tens of thousands of others in 150 countries across the world, demonstrating in an effort to put pressure on world leaders to act now to slow the damaging effects of climate change.

source:http://boingboing.net/2014/09/22/arrests-and-outrage-at-flood-w.html

 


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September Wealthbuilder Stock Market Brief

By  Christopher M. Quigley B.Sc. (MAJ. Accounting). M.I.I. (Grad.), M.A.

(http://wealthbuilder.ie/index.htm)

Europe Holds Its Breath.

This Thursday the 18th September Scotland goes to the polls to decide whether it wants to stay in
a Union with the rest of Great Britian or go down the road of independence. At the moment the
election is too close to call with sentiment equally divided between either camp. If the Scottish
people do opt for going it alone it will send shock waves through-out Europe. Such a result,
many believe, will feed the secession fevour spreading across Euroland and lead to continued
Euro weakness.

Recently Gorge Soros penned an Op-Ed piece in the FT, (Financial Times September 10th 2014),
voicing his horror at was occurring. In the main he outlined that the break-up of the British
Union could lead to the destabilization of the European Union as a whole just when it needs to be
to be strong and united to deal with Russian aggression:

“This is the worst possible time for Britain to consider leaving the EU – or for Scotland to
break with Britain.

The EU is an unfinished project of European states that have sacrificed part of their sovereignty
to form an ever-closer union based on shared values and ideals. Those shared values are under
attack on multiple fronts. Russia’s undeclared war against Ukraine is perhaps the most
immediate example but it is by no means the only one. Resurgent nationalism and illiberal
democracy are on the rise within Europe, at its borders and around the globe.

Since world war two the European powers, along with the US, have been the main supporters
of the prevailing international order. Yet, in recent years, overwhelmed by the euro crisis,
Europe has turned inward, diminishing its ability to play a forceful role in international
affairs.

As a major power and global financial centre, Britain ought to be centrally involved in crafting a
European response to this threat. But like the US and the EU itself, Britain has also been
distracted by internal matters. Conservative Prime Minister David Cameron has been persuaded
by anti-European zeal – not least within his own party – to put UK membership in the EU to a
vote in 2017. A poll on Scottish independence is only days away. Just when Britain should be
confronting grave threats to its way of life, it is preoccupied with divorce of one type or
another.

full PDF doc September Wealthbuilder Stock Market Brief


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Can Petrodollar Survive Low Interest Rates?

By Luke Gromen, author, Forest for the Trees newsletter

Where does capital really come from?

Most US policymakers believe that capital comes from debt issued by the Fed and its member banks; most other big debtor countries agree (i.e. Japan). On the other hand, policymakers of the world’s biggest creditor nations (led by China) believe that real capital is the surplus produced from production and trade (which has been mainly accumulated in US dollars and ultimately backs the US dollar as the primary reserve currency).

For the past 7-12 years the two conflicting ideas about capital have begun to have noticeable effects in certain global asset markets. The chart below, showing gold, oil, and Fed Funds rates, illustrates what has occurred. For most of the three decades from 1973-2002, these asset classes traded closely together; in the last decade, they have been diverging dramatically. We’ll explain why this happened and the critical implications it holds for the USD prices of oil and gold.

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Under the “Petrodollar arrangement,” key oil exporters promised to only price oil in USD and US interest rates were then managed so that oil exporters were indifferent to whether they stored currency reserves earned from oil exports in US Treasuries or in gold (which had always settled oil prior to 1971 via a gold-backed USD and, prior to that, gold-backed sterling).

At the time, the US was the world’s largest trading nation and oil producer. The Fed consistently managed Fed Funds rates to keep oil prices steady, even when it required mid-teens interest rates and back-to-back recessions in 1980-1982. Since US Fed Funds rates were managed to preserve US creditors’ and oil exporters’ purchasing power in oil terms, the system proved acceptable to most nations.

While the Petrodollar arrangement worked well for nearly thirty years, the arrangement began to wobble beginning around 2002-04, due to a unique combination of factors:

  1. The US economy had become increasingly ‘financialized’ from 1981-2000 – the percentage of US GDP derived from sectors such as finance and real estate had risen significantly. This was driven by steadily falling interest rates from the early 1980’s onwards and financial innovations such as securitization of consumer and commercial loans. This meant that cheap credit became more important to the US economy than cheap oil. This led to both a significant increase in US aggregate indebtedness and a rise in employment levels for jobs in origination, servicing, and managing credit products in the US.
  2. full article at source: http://sprottglobal.com/thoughts/articles/can-petrodollar-survive-low-interest-rates/


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Water charges, The truth about the product Irish Water want you to pay twice for

This Video was taken down : Censorship at its finest in Ireland where Google and Facebook enjoy a cosy tax arrangement with the corrupt Irish government in return for a censorship arrangement ! The truth will come out and the people of Ireland will “call to account” the Irish water management and the corrupt Irish government!
I will attempt to put this up again!

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