Daily Digest

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Daily Digest 9/20 - Scotland's Attack On The Status Quo, Life In Timbuktu

Saturday, September 20, 2014, 2:43 PM

Economy

A Kingdom Still Whole, but Far From United (jdargis)

The victory of the “Better Together” camp was ensured late in the campaign when all three main political leaders from Westminster — Mr. Cameron, the Labour Party leader Ed Miliband and the Liberal Democrat Nick Clegg — jointly promised “extensive new powers” to the Scottish Parliament over taxing, spending and welfare, while also pledging to continue the budget allowance Scotland gets, a generous allowance per capita compared with what the rest of Britain receives.

Scotland’s Attack on the Status Quo (jdargis)

Most people date modern Scottish nationalism back to the days of Margaret Thatcher. But like Europe’s other anti-establishment movements, this one picked up speed thanks to the financial crisis of 2009, when Britain, like the rest of Europe, was suddenly hit by a financial hurricane that seemed to come from somewhere far away. Unpopular economic decisions made at the time were blamed on forces beyond Britain’s control. The Scottish “Yes” campaign grew out of a popular demand to bring those forces back under control, to make decisions locally—and to defy the iron logic of global markets. At its utopian worst, the Scottish independence movement seemed to be promising more social spending without higher taxes, as if Scots could start from scratch and create a “better” country without paying any price for separation at all.

Texas man must pay $40.4M for running Bitcoin-based scam (jdargis)

During the relevant period, Shavers falsely represented to BTCST investors on the Bitcoin Forum and in online chat rooms dedicated to Bitcoin that BTCST traded bitcoin against the U.S. dollar, including selling bitcoins to individuals who wanted to buy them "off the radar," quickly, or in large quantities; that the promised returns would be generated by such bitcoin market arbitrage; and that he earned 10.65% each week on average for BTCST from these investment activities. In reality, Shavers, on the whole, either used new bitcoins received from BTCST investors to pay purported returns and withdrawals on outstanding BTCST investments, or diverted BTCST investors’ bitcoins for his personal use.

Bank of America using three intelligence firms to attack WikiLeaks (Arthur Robey)

The Bank of America drama started when The New York Times wrote that Assange said he planned to "take down" a major American bank and use data off an executive's hard drive to reveal an "ecosystem of corruption." At that point, Bank of America began an internal investigation with the help of consulting firm Booz Allen Hamilton, "scouring thousands of documents," and looking for any systems that had been compromised. The NYTimes reported that the Bank of America "has also sought advice from several top law firms about legal problems that could arise from a disclosure, including the bank's potential liability if private information was disclosed about clients."

H.R.24 - 113th Congress (2013-2014): Federal Reserve Transparency Act of 2013 (RW)

Instructs the Comptroller General to audit and report on the review of loan files of homeowners in foreclosure in 2009 or 2010, required as part of the enforcement actions taken by the Board against supervised financial institutions. Prescribes audit contents, including: the guidance given by the Board to independent consultants retained by the supervised financial institutions regarding procedures to be followed in conducting the file reviews, (2) the factors considered by independent consultants when evaluating loan files and the results obtained pursuant to those reviews, and (3) the determinations made by such consultants regarding the nature and extent of financial injury sustained by each homeowner as well as the level and type of remediation offered.

U.S. Faces Tough Struggle on Ground to Oust ISIS (jdargis)

Urban warfare in Iraq has been challenging for the United States, which had 70 troops killed in the second battle of Falluja in 2004 and fought hard to regain control of cities like Mosul, Baquba and Baghdad. So it will be even harder for the Iraqis, who have so far proved ineffective in combating the Islamic State, also known as ISIS or ISIL.

Life in Timbuktu: how the ancient city of gold is slowly turning to dust (jdargis)

Timbuktu’s appellation as a city feels dubious. Sean Smith, the Guardian’s photographer, is the only guest staying in the city’s La Colombe hotel. At night, even the manager goes home, leaving him all alone. Yet the history books say Timbuktu boasted 25,000 students in its heyday, having established one of the world’s earliest universities in the 12th century.

Lockdown Begins in Sierra Leone to Battle Ebola (jdargis)

While governments in the region have already cordoned off large swaths of territory in hopes of containing the outbreak, none have attempted anything on the scale of what is being tried here. The government says it wants to visit every residence in this country of about 6 million, with the aim of instructing people in how to stop the disease from being transmitted and to find out who is harboring sick people, with potentially deadly consequences.

Gold & Silver

Click to read the PM Daily Market Commentary: 9/19/14

Provided daily by the Peak Prosperity Gold & Silver Group

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3 Comments

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Unpardinably Ungovernable.

The quote of the day today must be this one from Belgian EU Trade Commissioner Karel De Gucht in the aftermath of the Scottish rejection of independence: A Europe driven by self-determination of peoples … is ungovernable … ”

From The Automatic Earth.

What do you think of that Boys and Girls? You are ungovernable.

Those unruly Celts again!    And Basques.  .  . and Catalonians.  .  . and Icelanders. Did I leave anyone out?

Thinks: "Now if I could just be el Presedente things would be perfect".

Only morons would want the top job and we have got morons. Like moths to the flame.

PS. is there any chance that we could inspire Washington and Canberra to secede?

KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1449
Is the Shale Revolution a 'Ponzi Scheme' or the End of Peak Oil?

http://reason.com/archives/2014/09/19/a-shale-gas-and-oil-bubble

KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1449
Re: Bank of America using three intelligence firms

Bank of America article is from Feb 9, 2011  Daily News?

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