South Carolina Now Requires ‘Subversives’ to Register, Pay Fee
February 6th, 2010The Onion couldn’t have done it better than South Carolina.
Via: Raw Story:
Terrorists who want to overthrow the United States government must now register with South Carolina’s Secretary of State and declare their intentions — or face a $25,000 fine and up to 10 years in prison.
The state’s “Subversive Activities Registration Act,” passed last year and now officially on the books, states that “every member of a subversive organization, or an organization subject to foreign control, every foreign agent and every person who advocates, teaches, advises or practices the duty, necessity or propriety of controlling, conducting, seizing or overthrowing the government of the United States … shall register with the Secretary of State.”
There’s even a $5 filing fee.
By “subversive organization,” the law means “every corporation, society, association, camp, group, bund, political party, assembly, body or organization, composed of two or more persons, which directly or indirectly advocates, advises, teaches or practices the duty, necessity or propriety of controlling, conducting, seizing or overthrowing the government of the United States [or] of this State.”
Secret Meeting of Top Bankers in Australia
February 6th, 2010Via: Herald Sun:
THE world’s top central bankers began arriving in Australia yesterday as renewed fears about the strength of the global economic recovery gripped world share markets.
Representatives from 24 central banks and monetary authorities including the US Federal Reserve and European Central Bank landed in Sydney to meet tomorrow at a secret location, the Herald Sun reports.
Organised by the Bank for International Settlements last year, the two-day talks are shrouded in secrecy with high-level security believed to have been invoked by law enforcement agencies.
Speculation that the chairman of the US Federal Reserve, Dr Ben Bernanke, would make an appearance could not be confirmed last night.
The event will be dominated by Asian delegations and is expected to include governors of the Peoples Bank of China, the Bank of Japan and the Reserve Bank of India.
The arrival of the high-powered gathering coincided with a fresh meltdown on world sharemarkets, sparked by renewed concerns about global growth and sovereign debt.
Fears countries including Greece, Portugal, Spain and Dubai could default on debt repayments combined with disappointing US jobs data to spook investors.
Gever Tulley on Radio New Zealand
February 6th, 2010Via: Radio New Zealand:
Our guest author is American computer scientist, Gever Tulley – founder of the Tinkering School, a summer camp that encourages kids to play with fire, throw spears and take risks. He has now released a new book called “Fifty Dangerous Things (You Should Let Your Children Do)” which he co-wrote with his wife, Julie Spiegler.
Airport Body Scanning Raises Radiation Exposure
February 5th, 2010Via: Bloomberg:
Air passengers should be made aware of the health risks of airport body screenings and governments must explain any decision to expose the public to higher levels of cancer-causing radiation, an inter-agency report said.
Pregnant women and children should not be subject to scanning, even though the radiation dose from body scanners is “extremely small,” said the Inter-Agency Committee on Radiation Safety report, which is restricted to the agencies concerned and not meant for public circulation. The group includes the European Commission, International Atomic Energy Agency, Nuclear Energy Agency and the World Health Organization.
A more accurate assessment about the health risks of the screening won’t be possible until governments decide whether all passengers will be systematically scanned or randomly selected, the report said. Governments must justify the additional risk posed to passengers, and should consider “other techniques to achieve the same end without the use of ionizing radiation.”
President Barack Obama has pledged $734 million to deploy airport scanners that use x-rays and other technology to detect explosives, guns and other contraband. The U.S. and European countries including the U.K. have been deploying more scanners at airports after the attempted bombing on Christmas Day of a Detroit-bound Northwest airline flight.
States Storing Newborns’ DNA Without Parental Consent
February 5th, 2010Via: CNN:
When Annie Brown’s daughter, Isabel, was a month old, her pediatrician asked Brown and her husband to sit down because he had some bad news to tell them: Isabel carried a gene that put her at risk for cystic fibrosis.
While grateful to have the information — Isabel received further testing and she doesn’t have the disease — the Mankato, Minnesota, couple wondered how the doctor knew about Isabel’s genes in the first place. After all, they’d never consented to genetic testing.
It’s simple, the pediatrician answered: Newborn babies in the United States are routinely screened for a panel of genetic diseases. Since the testing is mandated by the government, it’s often done without the parents’ consent, according to Brad Therrell, director of the National Newborn Screening & Genetics Resource Center.
In many states, such as Florida, where Isabel was born, babies’ DNA is stored indefinitely, according to the resource center.
Many parents don’t realize their baby’s DNA is being stored in a government lab, but sometimes when they find out, as the Browns did, they take action. Parents in Texas, and Minnesota have filed lawsuits, and these parents’ concerns are sparking a new debate about whether it’s appropriate for a baby’s genetic blueprint to be in the government’s possession.
“We were appalled when we found out,” says Brown, who’s a registered nurse. “Why do they need to store my baby’s DNA indefinitely? Something on there could affect her ability to get a job later on, or get health insurance.”
According to the state of Minnesota’s Web site, samples are kept so that tests can be repeated, if necessary, and in case the DNA is ever need to help parents identify a missing or deceased child. The samples are also used for medical research.
Art Caplan, a bioethicist at the University of Pennsylvania, says he understands why states don’t first ask permission to screen babies for genetic diseases. “It’s paternalistic, but the state has an overriding interest in protecting these babies,” he says.
However, he added that storage of DNA for long periods of time is a different matter.
“I don’t see any reason to do that kind of storage,” Caplan says. “If it’s anonymous, then I don’t care. I don’t have an issue with that. But if you keep names attached to those samples, that makes me nervous.”
Mysterious Danish Group Builds Exotic Compound on Baja Coast
February 5th, 2010This is a weird one.
Via: San Diego Reader:
Tvind Alert says that the complex cost $10 million to build. The watchdog website says that a Mexican-Danish company bought the land from local landowners between 1999 and 2003. Attorney Morachis informed me that the landowner is a Mexican company. Allegations have been made that title to some of the property was improperly obtained and that ownership by the Teachers Group violates Mexican laws of foreign ownership of coastal land, but TG Pacifico’s lawyers say that the title and ownership are sound.
The property is said to encompass 740 hectares (1828 acres). Morachis remarked in an interview appearing in 2005 in Skyscrapercity.com, a building and architecture website, that “the developers chose this site for its tranquility.” Tvind Alert says the development includes housing for 300 staff, “complete with boardroom, exhibition space, gymnasium, squash courts, Olympic-sized swimming pool and helipad.” Several local people spoke of the luxuriousness of the compound. The Zeta article refers to “tile from Puebla, pottery from Tlaxcala and marble from Durango.”
The French government has officially designated Humana as a cult, while some of Tvind’s critics, as well as Danish prosecutors, have called Tvind a secular religion. Several buildings have a modern ecclesiastical look: identical-looking ones at the northern and southern ends of the compound resemble cathedrals, with nave and narthex. One space has the appearance of a sanctuary. An obelisk-like monument is portentous and enigmatic. “From what we can see in the photos, the building complex near Pulgas deserves to be applauded for its design, if not for its function,” comments Thomas Williamson, a retired San Diego architect and former assistant professor of architecture at Stanford University, whom I asked for a review of Utzon’s creation.
More: Tvind Alert
Related: Sinister Sites
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Ex-BofA Chief Lewis Charged with Fraud
February 5th, 2010Via: CNN:
New York Attorney General Andrew Cuomo said Thursday it was bringing civil charges against senior Bank of America executives, including former company CEO Ken Lewis, for their role in the company’s controversial purchase of Merrill Lynch.
Separately, the Securities and Exchange Commission said it had struck a $150 million settlement agreement with BofA over its decision to pay billions of dollars in bonuses to former Merrill employees.
Bank of America’s last-minute decision to purchase the ailing Merrill in September 2008 has remained a central issue in the wake of the financial crisis, prompting both federal and state probes into the matter.
Cuomo’s office, which has been aggressively pursuing an investigation into the merger and subsequent bonuses paid to former Merrill employees, said it was charging Lewis and Bank of America’s former chief financial officer Joe Price with fraud.
The lawsuit contends that the bank’s management team understated the losses at Merrill in order to get shareholders to approve the deal, then subsequently overstated the firm’s willingness to terminate the merger to regulators weeks later in order to get $20 billion of additional aid from the federal government.
“Bank of America and its officials defrauded the government and the taxpayers at a very difficult and sensitive time,” Cuomo said at a press conference Thursday, joined by federal bailout cop Neil Barofsky, whose office aided in the investigation. “I believe that Bank of America officials exploited this fear.”
A spokesperson for Bank of America called the charges “regrettable” and “totally without merit,” adding that both Lewis and Price acted in good faith at all times and were “consistent with their legal and fiduciary obligations.”
Potential for Financial Emergency in Europe
February 5th, 2010WARNING: This is not a recommendation to buy, sell or hold any financial instrument.
Update: Dollar: Next Leg Up
80.240
—End Update—
We need to watch Portugal, Spain and Greece closely. The sovereign debt situation could easily get out of control.
I’m watching EUR/USD as the proxy for the situation. On faster intraday periods, EUR/USD is firming, and USDX is hesitating at the 80 level with several indicators describing lower pivot highs as the index climbs. In other words, a tactical pullback in the dollar is likely before an attempt to get a handhold over 80 is attempted again. This is a very tactical assessment.
Currently, the major Asian markets are down in the 2% to 3% range. I’ll update as necessary as we move into regular market hours in Europe.
Fears Rise of Euro Government Default
Via: Wall Street Journal:
Financial markets swooned Thursday amid rising fears of a government debt default in Europe, highlighting the seriousness of the challenges facing the euro currency as fiscally challenged countries like Greece, Portugal and Spain dig themselves out of debt.
After a brief respite early this week, the cost of insuring against default the debt of euro-zone members with large budget deficits jumped late Wednesday and rattled investors more broadly on Thursday.
While Greece and Portugal have felt investors’ fire in recent days, now even larger economies like Spain are starting to come under pressure from worries about their weakened public finances.
Blue-chip stock indexes in Spain and Portugal slumped nearly 6% and 5%, respectively, while an index of Europe’s 600 biggest companies dropped 2.7%. The euro sank more than 1% against the U.S. dollar to an eight-month low of $1.3727 and lost 3% of its value against the Japanese yen.
The global economic downturn, and extensive government spending to fight it, have led to major fiscal problems in Europe, especially for less-dynamic economies like Greece, Portugal, Ireland and Spain. Such countries took advantage of their membership in the 16-nation euro bloc during the boom by borrowing at unusually low interest rates. But now, investors are worried about how they will reduce yawning budget deficits that exceed 12% of their economic output in the case of Greece and Ireland.
—
Portugal Near Political Crisis Over Debt
Via: Financial Times:
Portugal moved towards a political crisis on Thursday night as its finance minister appealed to opposition parties not to defeat the minority Socialist government over a regional finance bill that he said would undermine the country’s international credibility.
In a televised address, Fernando Teixeira dos Santos said opposition proposals to allow the Portuguese islands of Madeira and the Azores to increase their debt would have “grave consequences for Portugal’s public accounts” and send “the worst possible message” to financial markets.
His warning came as Portuguese bonds and shares came under fire for the second day running as concerns over sovereign debt spread from Greece to other high-deficit countries in the eurozone.
The Lisbon stock market fell almost 5 per cent on Thursday, the biggest daily fall since November 2008, and bond yields rose to new highs amid doubts over the ability of Portugal to consolidate its public accounts.
The cost of insuring Portuguese debt against default also rose to a record high.
The U.S. Industrial Organic Milk Swindle
February 4th, 2010Via: Politics of the Plate:
On some bureaucrat’s desk in President Obama’s Office of Management and Budget (OMB), sits a document that has the power to either destroy the nation’s 1,800 family-operated organic dairy farms or come to their rescue.
In the early 2000s, virtually all of the nation’s organic dairy farmers—not to mention the millions of consumers willing to pay a premium for organic products—agreed that milk certified as organic by the United States Department of Agriculture had to come from cows that had access to pasture.
As government regulations go, it sounds pretty straightforward: room to roam, clean air to breathe, fresh grass to eat. And that was the general consensus on what the National Organic Standards required.
But beginning in the mid-2000s, at about the time when it became evident that the green “USDA Organic” label translated into bigger profits, huge Confined Animal Feeding Operations (CAFOs) with herds of up to 10,000 cows located in western states got into the organic milk business.
There was one obvious problem. How do you provide pasture for thousands of hungry cows in a semi-arid landscape that would, at best, produce enough feed for a few dozen animals?
Research Credit: SW

