Wednesday, November 18, 2009

Reuters | US Wants China to Buy into Its Small Banks

Reuters
17 Nov 2009

Chinese and U.S. regulators are negotiating a pact aimed at encouraging Chinese financial institutions to buy into small and medium-sized banks in the United States, bankers briefed on the plan said on Tuesday.

Chinese bankers have complained that it's been difficult for them to set up branches or invest in banks in the world's leading economy, due partly to U.S. regulators' tough supervision and strict approval process for financial deals.

But the global financial landscape has been revamped by the credit crisis, and cash-rich Chinese banks are now bigger players on the world scene and are scouting around for investment targets.

To illustrate the global shake-down, Industrial and Commercial Bank of China is now the world's biggest bank by market value, while Citigroup , once the world's No.1 bank, is worth the same as a second-tier commercial bank in China.

Two senior Chinese bankers said they had been invited this year by U.S. officials, investment bankers and financial advisers to look at several potential investments in U.S. banks, mostly in financial trouble.

"The trend is already there," said one Chinese banker.

"Now they're going to make this into an agreement to show there's a change in official attitude towards Chinese investments in the U.S. banking system," said the banker, who declined to be identified due to the sensitive nature of the matter.

A Sino-U.S. Memorandum of Understanding (MOU) to encourage Chinese banks to invest in U.S. lenders is in the making, and China's banking regulator has sought feedback from big domestic banks, bankers told Reuters.

Over 100 U.S. banks have already been seized by regulators in the financial crisis, and more bank failures could come as the Obama administration also needs more capital to take over troubled lenders. FULL ARTICLE>>>

The Jamestown Foundation | Ukraine Relying on International Monetary Fund (IMF) Payments for Russian Gas Purchase - IMF did NOT disburse funds ...

Publication: Eurasia Daily Monitor Volume: 6 Issue: 213
November 18, 2009 04:15 PM Age: 2 hrs
Category: Eurasia Daily Monitor, Home Page, Energy, Ukraine, Russia, Featured

Ukraine finds it increasingly difficult to survive without money from the International Monetary Fund (IMF). The country paid Russia for October’s gas deliveries with IMF funds and the same means will be used for November’s gas deliveries. However, the IMF did not disburse the fourth $3.8-billion tranche of its $16.4-billion loan to Ukraine in mid-November because of the government’s populist policies (EDM, November 4). This means that Ukraine may not receive more IMF money until after the presidential elections in January and February, and consequently it is unclear where it will find the money to pay for Russian gas in early 2010. The debt-ridden Naftohaz Ukrainy state-run oil and gas behemoth ran out of money long ago. There are fears that the situation in early 2009, when gas deliveries to Europe via Ukraine were stopped for two weeks over a pricing dispute between Russia and Ukraine, may be repeated.

It was feared that Ukraine would be unable to pay even for October and the head of the European Commission (E.C.) –the European Union’s executive arm– Jose Barroso telephoned President Viktor Yushchenko and urged him to pay for the gas. Fearing that Ukraine’s failure to pay for the gas could affect gas transit to the E.U., Barroso said in clear terms that European consumers should not suffer because of Ukraine. Yushchenko assured Barroso that Ukraine would pay from the $2 billion that it received in accordance with its share in the IMF in August and September as a result of a one-off distribution of the IMF’s funds (UNIAN, November 5). Ukraine transferred to Gazprom $480 million from the IMF money on November 6, several hours before the deadline for payment (Channel 5, November 6).

Ukrainian Deputy Prime Minister Hryhory Nemyrya admitted in his November 9 interview to Channel 5 that Ukraine may find it difficult to pay for December’s Russian gas deliveries in early January 2010 if the IMF does not release the fourth tranche in 2009. Nemyrya said he feared a repetition of the January 2009 crisis. He stated that Kyiv will most likely use the IMF’s funds received in September in early December to pay for November deliveries, but he admitted that it is uncertain how Ukraine would pay in January. President Yushchenko’s aide Oleksandr Shlapak shared Nemyrya's view point. Also speaking to Channel 5, he said that Ukraine cannot pay for gas in December and January without the IMF's assistance. FULL ARTICLE>>>>

RELATED

The Jamestown Foundation
From Wikipedia, the free encyclopedia
The Jamestown Foundation is a Washington, D.C.-based think tank, originally founded in 1984 as a platform to support Soviet dissidents. Today its stated mission is to "inform and educate" policy makers about events and trends which it regards as being of current "strategic" importance to the United States. Its website claims that "utilizing indigenous and primary sources, Jamestown’s material is delivered without political bias, filter or agenda."[1] However it has been accused of being an anti-Russian, agenda-driven relic of the Cold War.[2][3][4][5] The Jamestown Foundation claims on its website that it acquires its information through official or intelligence sources.

Founding and mission
The Jamestown Foundation was founded in 1984 after Arkady Shevchenko, the highest-ranking Soviet official ever to defect when he left his position as Under-Secretary-General of the United Nations, defected in 1978. Geimer had been working closely with Shevchenko, and established the foundation as a vehicle to promote the writings of the former Soviet diplomat and those of Ion Pacepa, a former top Romanian intelligence officer; with the help of the foundation, both defectors published bestselling books.[6] The CIA Director William J. Casey, a leading figure in national security organizations, helped back the formation of The Jamestown Foundation, agreeing with its complaints that the U.S. intelligence community did not provide sufficient funding of Soviet bloc defectors. The foundation, initially also dedicated to supporting Soviet dissidents, enabled the defectors from the Eastern Bloc to earn extra money by lecturing and writing.

According to its website: "The mission of the Jamestown Foundation is to inform and educate policy makers and the broader policy community about events and trends in those societies which are strategically or tactically important to the United States and which frequently restrict access to such information. Utilizing indigenous and primary sources, Jamestown’s material is delivered without political bias, filter or agenda. It is often the only source of information which should be, but is not always, available through official or intelligence channels, especially in regard to Eurasia and terrorism."[6] It claims to have "contributed directly to the spread of democracy and personal freedom in the former Communist Bloc countries."

Current activities
Currently, its primary focus is on China, Eurasia, Russia and global terrorism. As of 2008, its publications are Eurasia Daily Monitor, Global Terrorism Analysis, China Brief, North Caucasus Weekly (formerly Chechnya Weekly) and Recent From Turkey. Previous publications included Eurasia Security Trends, Fortnight in Review, North Korea Review, Russia and Eurasia Review, Russia’s Week, Spotlight on Terror, Terrorism Focus and Terrorism Monitor.
As of 2008, the foundation’s current board included James H. Burnley IV and Frank Keating,[7] while the Jamestown's fellows included David Satter, Michael Scheuer (let go in 2009, he claims he was fired because of his criticism of the U.S.-Israeli relations[8]) and Vladimir Socor.[9]

Criticism
It has been alleged that the Jamestown Foundation is a neoconservative agenda driven think-tank with ties to the CIA and United States government. Numerous publications have accused it of being an anti-Russian organization. An article by the Voltaire Network concludes that "...the Jamestown Foundation is only an element in a huge machine, which is controlled by Freedom House and linked to the CIA. In practice, it has become a specialized news agency in subjects such as the communist and post-communist states and terrorism. Although it publishes high quality information on issues that can be checked up, it does not hesitate to launch the most blatant imputations on the rest, thus providing neo-conservative think tanks with a world image that matches their ghosts and justifies their policy."[2] Philby Burgess writing for The eXile commented: "Most of the bitterly anti-Russian journalists who publish with these rightwing lobbies are from the small countries surrounding Russia, and they are animated by a deep hatred of their former conqueror."[3]
In 2007 Moscow accused the think tank of spreading anti-Russian propaganda by hosting a debate on violence in the Russia's turbulent Ingushetia region. According to a statement by the Foreign Ministry of Russia: "Organisers again and again resorted to deliberately spreading slander about the situation in Chechnya and other republics of the Russian North Caucasus using the services of supporters of terrorists and pseudo-experts. Speakers were given carte blanche to spread extremist propaganda, incite ethnic and inter-religious discord."[4] The Jamestown Foundation responded by saying that Russia felt threatened by it and was trying to intimidate it. Foundation president Glen Howard claimed that "they're intimidated by the power of the free word and this goes against the state manipulation of the media in Russia."[4]

References
External links

Real-time Magnetosphere Simulation | Our Planet's Magnetosphere Update - November 18, 2009 6:50 PM CDT



http://www2.nict.go.jp/y/y223/simulation/realtime/index.html

PRINCE CHARLES NEWS UPDATE | Invested former chief executive of the Ministry of MAORI Development in New Zealand as a Knight Grand Companion


4:00 AM Thursday Nov 19, 2009

Sir Ngatata Love is invested as a Knight Grand Companion of the New Zealand Order of Merit by Prince Charles at Buckingham Palace yesterday.

Sir Ngatata, professor of business development at Victoria University and a former chief executive of Te Puni Kokiri (the Ministry of Maori Development), received the honour for his services to Maori.




MAORI LAND MARCH
Click to be transferred to view video

“When old and young come together to do this, it shows the strength of their convictions.”
This film is a detailed chronicle of a key moment in the Māori renaissance: the 1975 land march led by then 79-year-old Whina Cooper. A coalition of Māori groups set out from the far north for Wellington, opposed to further loss of their land. This early doco from director Geoff Stevens, shot by Leon Narbey, includes interviews with many of those on the march: Eva Rickard, Tama Poata and Whina Cooper; there is stirring evidence of Cooper’s oratory skills.

The Māori (commonly pronounced /ˈmɑːɔri/ or /ˈmaʊri/) are the indigenous Polynesian people of New Zealand (Aotearoa). The group probably arrived in southwestern Polynesia in several waves at some time before 1300. The Māori settled the islands and developed a distinct culture.

Europeans arrived in New Zealand in increasing numbers from the late 18th century and the weapon technologies and diseases they introduced destabilised Māori society. After 1840, Māori lost much of their land and went into a cultural and numerical decline, but their population began to increase again from the late 19th century, and a cultural revival began in the 1960s. The majority of New Zealand's population is of European descent; the indigenous Māori are the largest minority.



http://www.neatorama.com/2006/11/08/robleys-eccentric-collections-maori-heads/

Much of what we know of the Maori today comes from the studies and documentations made by Major-General Horatio Gordon Robley. While in New Zealand, Robley befriended the Maori there and used his artistic skills to illustrate and paint scenes of the Maori way of life. Currently the Dominion Museum in Wellington house seventy of his paintings and his sketches provided a basis for Cassells’ publication Races of Mankind.

However, Robley is perhaps most well known for his eccentric collection.

The Maori mummified the tattooed heads of their tribesmen and Robley decided to acquire as many as possible. Over the years he built a collection of 35. In 1908 he offered them to the New Zealand Government for £1,000 but his offer was denied. Today, 30 of his heads are in the collection of the Natural History Museum in New York.




Tame Iti
From Wikipedia, the free encyclopedia
Tame Iti
Born Rotorua, New Zealand
Ethnicity Tūhoe Māori
Tāme Iti (born c.1952) has become well-known in New Zealand as a Tūhoe Māori activist.
Born on a train near Rotorua, Tame Iti grew up with his grandparents in the custom known as whāngai (adoption within the same family) on a farm near Ruatoki in the Urewera area of New Zealand. He says that at the age of 10, school authorities forbade him to speak Māori at school.[1] On leaving school, he took up an apprenticeship in interior decorating in Christchurch.

As the Māori nationalist movement grew in New Zealand in the late 1960s and 1970s, Iti became involved. He protested against the Vietnam War and apartheid-era South Africa, and he became involved with Nga Tamatoa, a major Māori protest-group of the 1970s, from its early days. He joined the Communist Party of New Zealand, and went to China in 1973 during the cultural revolution. He has taken part in a number of land-occupations and held a hikoi to the New Zealand Parliament.
Iti has since worked as a radio DJ and as an artist; and started a restaurant in Auckland serving traditional Māori food[2] which collapsed shortly after its launch. Sponsored by the wealthy Gibbs family, Iti briefly set up an art-gallery on Auckland's Karangahape Road. He has also made money from fishing, (getting arrested for illegally taking endangered species), and adopted unusual protest-techniques, such as setting up a tent on the lawn at Parliament and purporting it to be the Māori embassy to New Zealand, serving 'eviction notices' on the owners of former Tuhoe land, and selling Tuhoe passports. He stood for Parliament as a candidate of Mana Māori in the 1996, 1999 and 2002 New Zealand general elections.

Current activity
As of 2006 Tūhoe employed Iti as a social-worker with expertise in combatting drug and alcohol addictions. He has three children, two of them adults.
Tame Iti's ability to court controversy has made him a common feature in New Zealand media, aided by his unusual appearance. Tame Iti has a full facial moko, which he described as "the face of the future" in New Zealand. During 2004 he wore a mohawk. The public arguably know Iti best for his moko and for his habit of performing whakapohane (baring his buttocks) at protests.

Firearms charge
On January 16 2005 during a powhiri (or greeting ceremony) which formed part of a Waitangi Tribunal hearing, Tāme Iti fired a shotgun into a New Zealand flag in close proximity to a large number of people, which he explained was an attempt to recreate the 1860s East Cape War: "We wanted them to feel the heat and smoke, and Tūhoe outrage and disgust at the way we have been treated for 200 years". The incident was filmed by television crews but initially ignored by police. The matter was however raised in parliament, one opposition MP asking "why Tāme Iti can brandish a firearm and gloat about how he got away with threatening judges on the Waitangi Tribunal, without immediate arrest and prosecution".
New Zealand Police subsequently charged Iti with discharging a firearm in a public place. His trial occurred in June 2006. Tāme Iti elected to give evidence in Māori (his second language), stating that he was following the Tūhoe custom of making noise with totara poles. Tūhoe Rangatira stated Iti had been disciplined by the tribe and protocol clarified to say discharge of a weapon in anger was always inappropriate (but stated that it was appropriate when honouring dead warriors, (in a manner culturally equivalent to the firing of a volley over a grave within Western cultures)). Judge Chris McGuire said "It was designed to intimidate unnecessarily and shock. It was a stunt, it was unlawful".
Judge McGuire convicted Iti on both charges and fined him. Iti attempted to sell the flag he shot on the TradeMe auction site to pay the fine and his legal costs, but the sale - a violation of proceeds of crime legislation - was withdrawn.[3]

Iti lodged an appeal, in which his lawyer, Annette Sykes, argued that Crown Law did not stretch to the ceremonial area in front of a Marae's Wharenui. On April 4, 2007, the Court of Appeal of New Zealand overturned his convictions for unlawfully possessing a firearm. While recognising that events occurred in "a unique setting", the court did not agree with Sykes' submission about Crown law. However Justices Hammond, O'Regan and Wilson found that his prosecutors failed to prove beyond reasonable doubt that Iti's actions caused "requisite harm", under Section 51 of the Arms Act. The Court of Appeal described Iti's protest as "a foolhardy enterprise" and warned him not to attempt anything similar again.[4] [5]

2007 terrorism raids
Iti figured among the at least 17 people arrested by police on 15 October 2007 in a series of raids under the Terrorism Suppression Act and the Firearms Act.[6][7]

Performance art
Tame Iti performed a lead role in the Tempest dance theatre production by MAU, a New Zealand contemporary dance company directed by Samoan choreographer Lemi Ponifasio. The Tempest premiered in Vienna in June 2007. Tempest II was performed at the Queen Elizabeth Hall, Southbank Centre, London in June 2008. Because of Iti's arrest and court case over the 'terror-raids' Ponifasio had to convince the New Zealand High Court to allow the detained Maori activist to travel on the 2008 tour. Affidavits in support of MAU from international arts organizations had also been submitted as evidence to the High Court. Iti was eventually allowed to travel for the tour.[8] Tempest:Without a Body made its New Zealand premier at the Auckland Festival in March 2009.[9]

Documentary
Tame Iti has appeared in television over the years. In 2008, Tame Iti featured with his son Toikairakau (Toi) Iti in the New Zealand documentary Children of the Revoulution (2008)[10] which screened on Maori Television in April of the same year. Children of the Revolution is about the children of political activists in New Zealand and also featured anti-apartheid leader John Minto and his teenage son; Green Party Member of Parliament, Sue Bradford and her journalist daughter Katie Azania Bradford; Maori Party Member of Parliament, Hone Harawira and his wife Hilda Harawira with their daughter Te Whenua Harawira (organiser of the 2004 Seabed and Foreshore Land March) and musician and former political prisoner Tigilau Ness with his son, hip hop artist Che Fu.[11] The documentary was directed by Makerita Urale and produced by Claudette Hauiti and Maori production company Front of the Box Productions. The documentary won Best Maori Language Programme at the prestigious New Zealand Qantas Television Awards (now called Qantas Film & Television Awards) in 2008.[12]

References
  1. ^ Masters, Catherine (28 May 2005). "Tame Iti - the face of Maori nationalism". The New Zealand Herald. http://www.nzherald.co.nz/section/1/story.cfm?c_id=1&objectid=10127889.
  2. ^ Simon Collins (October 20, 2007). "Tame Iti was on Government payroll". New Zealand Herald. http://www.nzherald.co.nz/section/1/story.cfm?c_id=1&objectid=10471040.
  3. ^ TUMEKE! : Aotearoa | International | blog : nz blogosphere : New Zealand's current affairs & culture magazine
  4. ^ Hazelhurst, Sophie (2007-04-04). "Wrangle over firearm charges 'ridiculous' - Tame Iti". The New Zealand Herald (Auckland). http://www.nzherald.co.nz/section/1/story.cfm?c_id=1&objectid=10432537. Retrieved 2008-07-01.
  5. ^ "Tame Iti feels vindicated". Newstalk ZB. 2007-04-04. http://www.newstalkzb.co.nz/newsdetail1.asp?storyID=115198. Retrieved 2008-07-01.
  6. ^ "Nationwide anti-terrorism raids, 14 arrested". New Zealand Herald. 15 October 2007. http://www.nzherald.co.nz/section/1/story.cfm?c_id=1&objectid=10469938&pnum=0. Retrieved 2007-10-15.
  7. ^ "NZ police hold 17 in terror raids". BBC. 15 October 2007. http://news.bbc.co.uk/2/hi/asia-pacific/7044448.stm. Retrieved 2007-10-15.
  8. ^ http://www.scoop.co.nz/stories/HL0805/S00036.htm
  9. ^ http://www.aucklandfestival.co.nz/event-info/Tempest-Without-A-Body?genreUrl=dance
  10. ^ "Children of the Revolution". NZ On Screen. http://www.nzonscreen.com/title/children-of-the-revolution-2007. Retrieved 2009-10-14.
  11. ^ "Documentary - Children of the Revolution". http://www.frontofthebox.co.nz/Our-Programmes/Documentaries/Children-of-the-Revolution/default.aspx. Retrieved 26 July 2009.
  12. ^ http://www.qantasfilmandtvawards.co.nz/index.asp?pageID=2145866164
External links

The Japan Times | Invading jellyfish put hurt on fishermen, swimmers - Menace laid to warming seas, China pollution

Wednesday, Nov. 18, 2009 - ECHIZEN, Fukui Pref. — A blood-orange blob the size of a small refrigerator emerged from the dark waters, its venomous tentacles trapped in a fishing net. Within minutes, hundreds more were being hauled up, a pulsating mass crowding out the catch of mackerel and sea bass.

A giant jellyfish drifts off Kokonogi port in Echizen, Fukui Prefecture, on Oct. 14th


Fishermen at the port haul in a net full of jellyfish

The fishermen leaned into the nets, grunting and grumbling as they tossed the translucent jellyfish back into the bay, giants weighing up to 200 kg, marine invaders that are putting the men's livelihoods at risk.

The venom of the Nomura's jellyfish, the world's largest species at up to 2 meters in diameter, can ruin a whole day's catch by tainting or killing fish stung when ensnared with them in the maze of nets here in Wakasa Bay.

"Some fishermen have just stopped fishing," said Taiichiro Hamano, 67. "When you pull in the nets and see jellyfish, you get depressed."

Hamano said this year's jellyfish swarm is one of the worst he has seen. Once considered a rarity occurring every 40 years, they are now an almost annual occurrence along several thousand kilometers of Japanese coast, and far beyond Japan.

Scientists believe climate change — the warming of the oceans — has allowed some of the almost 2,000 jellyfish species to expand their ranges, appear earlier in the year and increase overall numbers, much as warming has helped ticks, bark beetles and other pests to spread to new latitudes.

The gelatinous seaborne creatures are blamed for decimating fishing industries in the Bering and Black seas, forcing the shutdown of seaside power and desalination plants in Japan, the Middle East and Africa, and terrorizing beach-goers worldwide, the U.S. National Science Foundation says.

A 2008 foundation study cited research estimating that people are stung 500,000 times every year — sometimes multiple times — in Chesapeake Bay on the U.S. East Coast, and 20 to 40 die each year in the Philippines from jellyfish stings.

In 2007, a salmon farm in Northern Ireland lost its more than 100,000 fish to an attack by the mauve stinger, a jellyfish normally known for stinging bathers in warm Mediterranean waters. Scientists cite its migration to colder Irish seas as evidence of global warming.

Increasingly polluted waters — off China, for example — boost growth of the microscopic plankton that "jellies" feed upon, while overfishing has eliminated many of the jellyfish's predators and cut down on competitors for plankton feed.

"These increases in jellyfish should be a warning sign that our oceans are stressed and unhealthy," said Lucas Brotz, a University of British Columbia researcher.

Here on the rocky Echizen coast, amid floodlights and the roar of generators, fishermen at Kokonogi's bustling port made quick work of the day's catch — packaging glistening fish and squid in Styrofoam boxes for shipment to market.

In rain jackets and hip waders, they crowded around a visitor to tell how the jellyfish have upended a way of life in which men worked trawlers on the high seas in their younger days and later eased toward retirement by joining one of the cooperatives operating nets set in the bay.

It was a good living, they said, until the jellyfish began inundating the bay in 2002, sometimes numbering 500 million, reducing fish catches by 30 percent and slashing prices by half over concerns about quality.

Two nets in Echizen burst last month during a typhoon because of the sheer weight of the jellyfish, and off the east coast jelly-filled nets capsized a 10-ton trawler as its crew tried to pull them up. The three fishermen were rescued.

"We have been getting rid of jellyfish. But no matter how hard we try, the jellyfish keep coming and coming," said Fumio Oma, whose crew is out of work after their net broke under the weight of thousands of jellyfish. "We need the government's help to get rid of the jellyfish."

The invasions cost the industry up to ¥30 billion a year, and tens of thousands of fishermen have sought government compensation, said scientist Shinichi Uye, Japan's leading expert on the problem.

Hearing fishermen's pleas, Uye, who had been studying zooplankton, became obsessed with the little-studied Nomura's jellyfish, scientifically known as Nemopilema nomurai, which at its biggest looks like a giant mushroom trailing dozens of noodlelike tentacles.

"No one knew their life cycle, where they came from, where they reproduced," said Uye, 59. "This jellyfish was like an alien."

He artificially bred Nomura's jellyfish in his Hiroshima University lab, learning about their life cycle, growth rates and feeding habits. He traveled by ferry between China to Japan this year to confirm they were riding currents to Japanese waters. FULL STORY >>>>

TaxProf Blog- Senate to Move Forward on Lael Brainard's Nomination to be Undersecretary of the Treasury for International Affairs Despite Tax Problems

November, 18, 2009

I previously blogged the tax problems of Lael Brainard, President Obama's nominee to be Undersecretary of the Treasury for International Affairs. The tax problems are (1) twelve late payments of real estate and personal property taxes, and late payment of unemployment taxes; (2) failure to timely file employment eligibility verification forms for her household help; and (3) failure to substantiate home office deductions. Senate Finance Committee Chair Max Baucus today annnounced that he would support the nomination and that the committee would soon vote on the nomination:

French bank Société Générale (SocGen) getting $11 Billion in US Taxpayer Bailouts now tells clients how to prepare for global collapse


RELATED:

BusinessInsider.com | SocGen Tells Clients: Here's How To Bet On Total Global Collapse

$11 billion bailout from United States taxpayers ....On March 15, 2009, AIG disclosed that, among its counterparties, Société Générale was to date the largest recipient of both credit default swap (CDS) collateral postings ($4.1 bn) and CDS payments ($6.9 bn), paid in whole or part by U.S. taxpayers.....

World's largest aspartame ( neurotoxic carcinogen) maker Ajinomoto is trying to rename it AMINOSWEET!

http://www.opednews.com/articles/attn-RICHMOND-World-s-lar-by-Stephen-Fox-091117-828.html

Evidently, the heat from the truthful bad press about the medical effects of aspartame has gotten to the corporate giant Ajinomoto, who is trying to change the name to something more warm and fuzzy: AMINOSWEET. Let's hope Obama's FDA Commissioner Dr. Margaret Hamburg, MD, rejects their name change and kicks this neurotoxic carcinogen out of the USA once and for all! Please google and read Read RUMSFELD'S BIOWEAPON LEGACY!

Wall Street Pit | Hedge Fund Paulson & Co to Launch Gold Fund - investing in gold-related shares and gold derivatives aiming to outperform gold prices

Nov 18, 2009, 1:53 PM

Hedge fund manager John Paulson, who raked in $20 billion in 2007 by betting against financials and all things subprime, is looking to grow his gold stash with a new fund, tapping into investor concern about a weak U.S. dollar and inflation.

Mr. Paulson, who spoke about the fund at a meeting with his investors in New York, argued that the bull run was only beginning for the precious metal. He said he was starting it in part to give himself more personal exposure to gold.

Mr. Paulson currently has more than 10% of his $30 billion or so under management in gold-related investments, according to his investors. He is estimated to be worth about $6 billion, and plans to invest as much as $250 million of his own money in the new fund. FULL STORY>>>

PressTV | Hundreds of South Koreans protest ahead of Obama's visit - South Korea should not "fall into the swamp of the US anti-terror war"


November 18, 2009 - Hundreds of South Koreans have staged an anti-war rally outside the US Embassy in Seoul, just ahead of a visit by US President Barack Obama.

The protest follows South Korea's decision to re-deploy its troops to Afghanistan.

The top regional US ally pulled its troops out of Afghanistan in 2007 following a hostage crisis in which two South Koreans were killed.

The demonstrators chanted slogans and held up signs reading "Yes you can end the Afghan war", directed at the US president who is to visit Seoul on Wednesday as part of his Asian trip.

The protestors also said they were disappointed with Obama for not ending the Afghan war.

They added that South Korea should not "fall into the swamp of the US anti-terror war" in the war-torn nation.

No clashes with the police occurred during the demonstrations.

The protests come as Obama moves closer toward a decision to send up to 40,000 more troops to Afghanistan to reinforce the 68,000-strong force that will already be fighting there by the end of the year.

Veterans Today | Special Report: Retired military officers cash in as well-paid consultants

November 18, 2009

Six months after Marine Lt. Gen. Gary McKissock retired in 2002, he did what many other ex-military leaders do: He joined the board of directors of a defense contractor, a company doing business with his former service.

McKissock also had a second job. The Marines brought him back as an adviser, at double the rate of pay he made on active duty. Since 2005, the Marines have awarded McKissock contracts worth $1.2 million, in addition to his military pension of about $119,000 a year.

McKissock is one of at least 158 retired admirals and generals the Pentagon has hired to offer advice under an unusual arrangement. Most of the retired officers, one to four stars in rank, have been paid hundreds of dollars an hour by the military even as they worked for companies seeking Defense Department contracts, a USA TODAY investigation found. That's in addition to pensions of $100,000 to $200,000 a year for officers with 30 or more years of service.

MILITARY MENTORS: 158 retired generals consulting for the Pentagon

As "senior mentors," as the military calls them, the retired officers help run war games and offer advice to former colleagues. Some mentors make as much as $330 an hour as part-time government advisers, more than triple what their rate of pay was as high-level, active-duty officers. They earn more — far more, several mentors said in interviews — as consultants and board members to defense companies.

Retired generals have taken jobs with defense contractors for decades, reaping rewards for themselves and their companies through their contacts and insights. But the recent growth in the use of mentors has created a new class of individuals who enjoy even more access than a typical retired officer, and they get paid by the military services while doing so. Most are compensated both by taxpayers and industry, with little to prevent their private employers from using knowledge they obtain as mentors in seeking government work.

Nothing is illegal about the arrangements. In fact, there are no Pentagon-wide rules specific to the various mentor programs, which differ from service to service.

Based on interviews and a review of public records, USA TODAY found:

• Of the 158 retired generals and admirals identified as having worked for the military as senior mentors, 80% had financial ties to defense contractors, including 29 who were full-time executives of defense companies. Those with industry ties have earned salaries, fees or stock options as consultants, board members or full-time employees of defense firms.

Read more at USA Today

MacArthur Foundation - Asia Security Initiative | Special Report: The Enduring American Role in Asia

Posted by Matthew Shannon Stumpf on November 18, 2009. Filed under Special Report: President Obama's November 2009 Trip to Asia , Asia-Pacific, United States.

This post is by Deepak Nair, Visiting Fellow at the S. Rajaratnam School of International Studies at Nanyang Technological University in Singapore. It originally appeared as an RSIS Commentary. Read the entire Commentary series here.

Obama’s America: Why it is likely to endure in Asia

Two key underlying themes have predicated the discourses on Barack Obama’s visit to Asia. First, the US has weakened. Second, Asia has changed substantially. But contrary to conclusions of “irrevocable decline”, America still has an enduring role in Asia.

America’s ‘decline’, Asia’s ‘confidence’

THOSE WHO argue that the United States is in decline point to some compelling empirical evidence: a struggling economy, a discredited model of economic and social planning, and, of course, the apparent growth of China’s power.
While these changes are beyond doubt, the implications are, however, debatable. An increasingly ubiquitous implication has been that Obama’s visit instantiates the irrevocably diminishing position of the US in Asia. This is seen, it is argued, in the visit’s accent on seeking growth and markets from Asia, an explicit willingness to accommodate the interests of China rather than contain it, and its difficulty in rebuilding troubled relations with allies like Japan. FULL ARTICLE>>>>

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The John D. and Catherine T. MacArthur Foundation is a major grant-making private foundation based in Chicago that has awarded more than US$4 billion since its inception in 1978. It is now one of the ten largest private philanthropies in the United States with an endowment of approximately $5.2 billion (the value dropped by about $1.7 billion in 2008 due to the economic crisis of 2008). The foundation awards approximately $260 million annually in grants and low-interest loans in the United States and nearly 60 other countries.

Its four major program areas are Global Security and Sustainability, Human and Community Development, General grant-making, and the MacArthur Fellows Program, also known as "genius grants." Topics of interest to the Foundation include international peace and security, conservation and sustainable development, population control, reproductive health, human rights, international migration, community development, affordable housing, and educational, juvenile justice, and mental health reform, public interest media, including public radio and independent documentary film. The Foundation also gives grants to arts and cultural institutions in the Chicago area.

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