20 May 2012
Facebook sued for $15 billion over subscriber tracking
The Mortgage Crisis Hits France Front And Center: Are French Bank Nationalizations Imminent?
Name the plunging bond below:
EXLUSIVE: EURO BANKNOTES UPDATE: Berlin printing new Euronotes (X) en masse, ECB withdrawing Greek notes (Y)
Slog’s Brussels mole clears up the riddle
“must mean Greek euroexit now seen as near-certainty”
Following this morning’s Slogpost about the dearth of Greek-origin euronotes (Y) and the torrent of new German versions (X) across the EU at the moment, I have been in contact with my regular Brussels informant. Since appearing, the piece that went up this morning has evoked a mass of emails to my Slog address, all of which have enabled further quantification of the fact that German notes are dominating supplies at the minute, while Greek versions are disappearing fast.
The Commission mole has ‘confirmed’ that the process is designed to ensure minimal numbers of ‘Y’ designated Greek notes are in circulation, in order to reduce refusal to accept them outside Greece to a bare minimum “as and when the Greeks exit the eurozone”.
I suggested that surely he meant “if and when”. After a brief silence, he added, “I doubt if the ECB and Berlin would’ve gone to these lengths if they didn’t feel that an exit is inevitable”.
John Embry And James Turk On Why The Gold Bull Market Isn't Over
Judge Katherine Forrest is a Modern American Hero
by Azizonomics:
Sometimes, the greatest deeds are done by those who are just doing their jobs, like Judge Katherine Forrest who last week struck down the indefinite detention provision (§1021) of the National Defense Authorization Act (NDAA).
It would be all too easy in this age of ever-encroaching authoritarianism in America for a judge ruling on a matter like this to just go with the government line and throw water over the plaintiffs. After all, telling truth to power has consequences. Forrest was appointed by Obama, but after this ruling one wonders whether she is about to meet a career dead-end. Power — especially narcissistic power — does not like being told uncomfortable truths.
Everything about this case is shameful; it should be obvious to anyone who can read the Constitution that indefinite detention without trial (just like assassination without trial — something else that Obama and his goons have no problem practicing and defending) is hideously and cruelly unconstitutional. It defecates upon both the words and the spirit of the document.
Video: Strong earthquake strikes northern Italy
Alasdair Macleod: All Roads In Europe Lead To Gold
Submitted by Chris Martenson
Alasdair Macleod: All Roads In Europe Lead To Gold
This week we bring back Alasdair Macleod, publisher of Finance and economics.org, because, as he puts it "every horror that we discussed last time we spoke is coming about". Especially scary since our previous conversation with him was less than three weeks ago...
Today's interview continues building on his excellent synopsis from last month that detailed the origins of the Eurozone crisis. The fundamental shortcomings warned of at the Euro's creation in 1997, combined with the excessive sovereign debts run up since then, have finally expressed themselves at a scale too large to be contained any longer.
Today, Alasdair details in-depth the huge and serious challenges facing Greece and the major Eurozone countries, and the likely impacts of the fast-dwindling options left remaining.
He sees no happy ending to this story, no outcome in which serious pain and permanent behavior change can be avoided. And for those looking for shelter from the unfolding economic storm, he sees few options besides the precious metals (which he believes are severely under priced at the moment):