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Luis Miguel Goitizolo

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RE: ARE WE NOW IN THE END TIMES?
7/27/2012 4:50:40 PM

Onslaught looms as Assad forces pound Aleppo rebels


Residents carry the body of Khaled Saad Eddin, whom activists say was killed by forces loyal to Syria's President Bashar al-Assad, during his funeral at Houla, neighbourhood of Homs July 25, 2012. Picture taken July 25, 2012. REUTERS/Shaam News Network/Handout (SYRIA - Tags: POLITICS CIVIL UNREST) FOR EDITORIAL USE ONLY. NOT FOR SALE FOR MARKETING OR ADVERTISING CAMPAIGNS. THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. IT IS DISTRIBUTED, EXACTLY AS RECEIVED BY REUTERS, AS A SERVICE TO CLIENTS


AMMAN/BEIRUT (Reuters) - President Bashar al-Assad's artillery pounded rebel-held areas in and around Aleppo on Friday in preparation for an onslaught on Syria's biggest city where the United States has said it fears a "massacre" may be imminent.

Opposition sources said the shelling, which follows intensive ground and air bombardment, was an attempt to drive fighters inside Aleppo from their strongholds and to stop their comrades outside the city from resupplying them.

"They are shelling at random to instill a state of terror," said Anwar Abu Ahed, a rebel commander outside the city.

The battle for Aleppo, a major power centre that is home to 2.5 million people, is being seen as a potential turning point in the 16-month uprising against Assad that could give one side an edge in a conflict where both the rebels and the government have struggled to gain the upper hand.

A rebel commander said insurgents had attacked a convoy of Syrian army tanks heading towards the city, as the government continued to redeploy forces from other parts of the country to bolster its forces there.

The fate of Syria itself - an ethnically fragmented nation of 22 million people - is likely to determine the future of the wider region for years to come amid fears that its own sectarian tensions could spill across borders.

The U.S. State Department said credible reports of tank columns moving on Aleppo, along with air strikes by helicopters and fixed-wing aircraft, represented a serious escalation of Assad's efforts to crush his opponents.

"This is the concern: that we will see a massacre in Aleppo, and that's what the regime appears to be lining up for," Victoria Nuland, a spokeswoman for the State Department, said.

Turkey, a former ally of Assad and now one of his fiercest critics, cheered on the rebels in Aleppo.

"In Aleppo itself the regime is preparing for an attack with its tanks and helicopters ... my hope is that they'll get the necessary answer from the real sons of Syria," Prime Minister Tayyip Erdogan said in remarks broadcast on Turkish TV channels.

As the remaining residents of Aleppo braced themselves for more bloodshed, General Robert Mood, the outgoing head of the U.N. monitoring mission, told Reuters he thought Assad's days in power were numbered.

"In my opinion it is only a matter of time before a regime that is using such heavy military power and disproportional violence against the civilian population is going to fall," the Norwegian general, who left Damascus on July 19, said.

Navay Pillay, the United Nations human rights chief, said a pattern had emerged as Assad's forces resorted to shelling, tank fire and door-to-door searches.

"All this, taken along with the reported build-up of forces in and around Aleppo, bodes ill for the people of that city," she said in statement.

MORTAR ROUNDS

Government troops stationed on the outskirts of the city unleashed barrages of heavy-caliber mortar rounds on its western districts, while Russian-built MI-25 helicopter gunships struck in the east, opposition activists inside the city said.

The heavy fighting follows an audacious bomb attack on July 18 that killed four of Assad's closest lieutenants in Damascus, a development that led some analysts to speculate that the government's grip was slipping.

In the first reported casualty on Friday, a man of about 60 wearing a traditional white prayer, outfit was killed near a park in Aleppo, while fighting spread across several neighborhoods.

A dawn bombardment killed five people who had been sheltering in a vegetable market. Video footage posted by opposition activists showed people gathering up the victims' body parts in plastic bags.

On Thursday, thirty-four people were killed in and around Aleppo, according to opposition activists, in an uprising that has cost the lives of 18,000 people across the country.

"The rebels have so far been nimble, and civilians have mostly been the victims of the bombardment," said activist Abu Mohammad al-Halabi, speaking by phone from the city.

Majed al-Nour, another activist, said rebels had attacked a security outpost in the neighborhood of Bustan al-Joz, which is close to Aleppo's city centre, on Thursday.

"The rebels are present in the east and west of the city, and have a foothold in areas of the centre. The regime forces control the entrances of Aleppo and the main thoroughfares and commercial streets and are bombarding the residential districts that fell into rebel hands," he said.

Nour said tens of thousands of people had fled Aleppo to nearby northern rural regions close to Turkey.

In the city, rebels have detained at least 100 Syrian officers, soldiers and pro-government militiamen this week, the Syrian Observatory for Human Rights, an opposition group, said.

A video posted on YouTube showed rebels with Kalashnikovs from "The Tawheed (monotheism) Brigade" guarding the detainees, who were lined up on a school playground.

HELICOPTERS OVER DAMASCUS

In Damascus on Friday, four helicopters flew over southern areas of the capital, firing heavy machine guns into the districts of Hajar al-Aswad and Tadamon as well as into the Yarmouk Palestinian refugee camp, a resident said.

"I can see two above me right now, heading towards Hajar al-Aswad," she said by telephone, the pounding of guns audible in the background. The helicopters were flying low and appeared to be targeting specific buildings.

Opposition sources said Syrian troops and armor entered Hajr al-Aswad on Friday, pursuing a counter-attack against rebel fighters that began last week.

With U.N. Security Council resolutions for sanctions against Syria vetoed by Russia and China for a third time last week, the United States has said it is stepping up assistance to Syria's fractured opposition, though it remains limited to non-lethal supplies such as communications gear and medical equipment.

Reuters has learned that the White House has crafted a presidential directive, called a "finding," that would authorize greater covert assistance for the rebels, but stop short of arming them.

It is unclear whether President Barack Obama has signed the document, a highly classified authorization for covert activity.

A Syrian parliamentarian, Ikhlas al-Badawi, from the northern province of Aleppo said on Friday she had fled to Turkey, becoming the first member of the rubber-stamp assembly dominated by Assad's Baath Party to defect.

Meanwhile, a source close to the mediation effort told Reuters on Friday that international mediator Kofi Annan was still trying to forge a political solution to the Syria crisis despite being made a scapegoat for the failure of the two sides to agree.

United Nations Secretary-General Ban Ki-moon said he was deeply concerned about reports that Syria could use chemical weapons and demanded that the government should state it would not use them "under any circumstances".

British Foreign Secretary William Hague said the Syrian government assault on Aleppo was an "utterly unacceptable escalation" of the conflict.

(Additional reporting by Tabassum Zakaria, Matt Spetalnick and Andrew Quinn in Washington; Writing by Giles Elgood; Editing by Michael Roddy)

"Choose a job you love and you will not have to work a day in your life" (Confucius)

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Luis Miguel Goitizolo

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RE: ARE WE NOW IN THE END TIMES?
7/27/2012 5:01:42 PM

Spreading Euro FireEconomists Warn EU on 'Threshold of Catastrophe'

The construction site for the new European Central Bank headquarters in Frankfurt: While you're at it, economists are suggesting, you should build a new euro zone.

The euro crisis has returned with a vengeance this week, with Greece potentially facing bankruptcy, Spain teetering towards a bailout and even Germany at risk of losing its top credit rating. A group of prominent economists are calling for a radical restructuring of Europe and the euro zone to prevent a disaster of "incalculable proportions."

A panel of respected European economics experts are ringing the alarm bell this week over the euro crisis -- direly calling on all European leaders to move swiftly to deploy the most powerful tools available to halt the currency's downward spiral.

"We believe that as of July 2012, Europe is sleepwalking toward a disaster of incalculable proportions," the New York-based Institute for New Economic Thinking (INET) stated in a report warning leaders they need to move faster and more decisively to save the common currency. Otherwise it could very well disintegrate.

The study's publication on Tuesday couldn't be any timelier, given the recent dramatic developments in the euro crisis. Greece's recession is proving to be farworse than previously expected, it is getting tougher for Spain to raise money on the markets (on Tuesday, interest rates on 10-year Spanish bonds rose to an unsustainable 7.6 percent) and Germany's top triple-A rating is also at risk.

In recent weeks, the situation in the more highly indebted euro-zone states has intensified dramatically, write the experts, who include Peter Bofinger and Lars Feld of Germany. As members of the Council of Economic Advisors, they are part of a respected panel that advises the German government on such issues. The study's authors also include Beatrice Weder di Mauro, a former member of the panel who recently left to work for Switzerland's UBS bank. The experts wrote that the crisis is the result of flawed design, construction and implementation of the finance and currency system. In order to rescue it, the economists are calling for a radical restructuring. "The sense of a never-ending crisis, with one domino falling after another, must be reversed," they wrote.

Among other proposals, the economists are calling for:

  • tighter integration of the financial system with a strong institution at the European Union or euro-zone level that would make stabilizing the banks a matter for all of Europe;

  • the permanent euro rescue fund, the European Stability Mechanism, to be provided with a banking license as a lender in order to give it the "firepower" that it needs;
  • the European Central Bank to better use all the tools at its disposal (both conventional and unconventional) in order to bolster the currency union.

The economists write further that the restructuring "does not mean that the costs of the crisis should be socialized across euro-zone citizens: systemic failure does not absolve from responsibility inviduals, banks and supervisors who took or oversaw imprudent lending and borrowing decisions."

It does, however, "mean that the extent to which markets are currently meting out punishment against specific countries may be a poor reflection of national responsibility, and that a successful crisis response must be collective and embody some burden sharing across countries. Absent this collective constructive response, the euro will disintegrate," they warn.

But the report's authors also stress that the structural reforms they recommend "would be sufficient to put the euro zone on a firm footing" only if they are accompanied by the reduction of national deficits and if countries also restore their competitiveness.

OECD Chief Says ECB Should Buy Spanish Bonds

The head of the influential Organization for Economic Cooperation and Development (OECD) offered support on Tuesday for one key aspect of the proposal. OECD Secretary General Angel Gurria told Bloomberg TV that the ECB should reactivate its government bond-buying program "more decisively and with bigger numbers" as "you have to stabilize the yields." He said there was no reason why Italy and Spain should be paying yields of 7.5 percent. He also said a Spanish rescue would be "totally unnecessary" if Europe were to deploy all of its instruments, "but mostly the ECB. There is a bazooka."

Currently, the ECB is holding previous bond purchases in its books valuing a total of €211.5 billion ($256 billion). However, the ECB has put its bond-buying program on ice since mid-March.

dsl -- with wires

"Choose a job you love and you will not have to work a day in your life" (Confucius)

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Luis Miguel Goitizolo

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RE: ARE WE NOW IN THE END TIMES?
7/27/2012 5:27:01 PM
US Senator Bernie Sanders Exposes 26 Billionaires Manipulating Election
2012 JULY 27
Posted by Stephen Cook

US Senator Bernie Sanders Exposes 26 Billionaires Manipulating Election

Stephen: While we don’t run stories on actual election campaigns in any country per se, this story offers a glimpse into the cabal/political machinations that apply to possibly every country in the world.

Here, US Senator Bernie Sanders continues his ‘outing’ of truths, as he again displays a brand of political courage that is in line with the new paradigm. Gotta love this man.

Interestingly, not one woman among this list. Thanks to John Smallman.

Bernie Sanders Exposes the 26 Billionaires Who are Buying the 2012 Election

By Jason Easley, Politics USA – July 24, 2012

http://www.politicususa.com/bernie-sanders-exposes-26-billionaires-buying-2012-election.html

In his new report, America For Sale: A Report on Billionaires Buying the 2012 Election, Sen. Bernie Sanders named names and called out the billionaires who using Citizens United to buy our democracy.

In front of a Senate panel today, Sen. Bernie Sanders outed the 26 billionaires who are members of 23 billionaire families that are using Citizens United to buy elections. Sen. Sanders estimated that these 26 billionaires are the tip of the iceberg.

“My guess is that number is really much greater because many of these contributions are made in secret. In other words, not content to own our economy, the 1 percent want to own our government as well.”

Sanders explained how the Supreme Court’s Citizens United decision put the government up for sale, “What the Supreme Court did in Citizens United is to say to these same billionaires and the corporations they control: ‘You own and control the economy, you own Wall Street, you own the coal companies, you own the oil companies. Now, for a very small percentage of your wealth, we’re going to give you the opportunity to own the United States government.’”

Sen. Sanders also did the last thing the billionaires wanted. He called them out by name.

According to the report, America for Sale: A Report on Billionaires Buying the 2012 Election, here are the 26 billionaires who are trying to buy your government:

1. Sheldon Adelson, owner of the Las Vegas Sands Casino, is worth nearly $25 billion, making him the 14th wealthiest person in the world and the 7th richest person in America. While median family income plummeted by nearly 40% from 2007-2010, Mr. Adelson has experienced a nearly eightfold increase in his wealth over the past three years (from $3.4 billion to $24.9 billion). Forbes recently reported that Adelson is willing to spend a “limitless” amount of money or more than $100 million to help defeat President Obama in November.

2,3,4. The Kochs (David, Charles, and William) are worth a combined $103 billion, according to Forbes. They have pledged to spend about $400 million during the 2012 election season. The Kochs own more wealth than the bottom 41.7 percent of American households or more than 49 million Americans.

5. Jim Walton is worth $23.7 billion. He has donated $300,000 to super PACs in 2012.

6. Harold Simmons is worth $9 billion. He has donated $15.2 million to super PACs this year.

7. Peter Thiel is worth $1.5 billion. He has donated $6.7 million to Super PACs this year.

8. Jerrold Perenchio is worth $2.3 billion. He has donated $2.6 million to super PACs this year.

9. Kenneth Griffin is worth $3 billion and he has given $2.08 million to super PACs in 2012.

10. James Simons is worth $10.7 billion and he has given $1.5 million to super Pacs this year.

11. Julian Robertson is worth $2.5 billion and he has given $1.25 million to super PACs this year.

12. Robert Rowling is worth $4.8 billion and he has given $1.1 million to super PACs.

13. John Paulson, the hedge fund manager who made his fortune betting that the sub-prime mortgage market would collapse, is worth $12.5 billion. He has donated $1 million to super PACs.

14,15. Richard and J.W. Marriott are worth a combined $3.1 billion and they have donated $2 million to super PACs this year.

16. James Davis is worth $1.9 billion and he has given $1 million to super PACs this year.

17. Harold Hamm is worth $11 billion and he has given $985,000 to super PACs this year.

18. Kenny Trout is worth more than $1.2 billion and he has given $900,000 to super PACs this year.

19. Louis Bacon is worth $1.4 billion and he has given $500,000 to super PACs this year.

20. Bruce Kovner is worth $4.5 billion and he has given $500,000 to super PACs this year.

21. Warren Stephens is worth $2.7 billion and he has given $500,000 to super PACs this year.

22. David Tepper is worth $5.1 billion and he has given $375,000 to super PACs this year.

23. Samuel Zell is worth $4.9 billion and he has given $270,000 to super PACs this year.

24. Leslie Wexner is worth $4.3 billion and he has given $250,000 to super PACs this year.

25. Charles Schwab is worth $3.5 billion and he has given $250,000 to super PACs this year.

26. Kelcy Warren is worth $2.3 billion and he has given $250,000 to super PACs this year.

The thing that these billionaires love most about Citizens United it is that it allows them to operate in total darkness. The American people couldn’t fight back because the billionaires were giving their money anonymously. This same cloak of invisibility is what made ALEC so effective for years. The conservative billionaire cabal works best in private, behind closed doors, far away from curious eyes.

With his report today, Sen. Sanders has made it more difficult for thieves of liberty to keep operating in the night. We now have a list of names and we know what they are trying to do to our government. Sen. Sanders is one of the few federally elected officials who has the courage to talk about these people in public.

Most of the members of the House and Senate are too afraid to speak of, much less take on, the billionaires. Even those decent members of Congress who might speak out against them have been terrified into silence by threats of multimillion dollar negative ad buys that will run against the incumbent back home.

Bernie Sanders is displaying a brand of political courage that is sorely lacking in American politics today, and he needs you to stand with him to protect our liberties, our freedoms, and to battle to return the government back to the American people.

"Choose a job you love and you will not have to work a day in your life" (Confucius)

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Luis Miguel Goitizolo

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RE: ARE WE NOW IN THE END TIMES?
7/27/2012 11:59:30 PM

Spanish unemployment hits record high 24.6 percent


MADRID (AP) — The number of people unemployed in Spain hit a record high, official figures showed Friday, as the International Monetary Fund urged European leaders to quickly fulfill their promises to help the country and the 17-country eurozone.

The recession-hit country's unemployment rate rose to 24.63 percent in the second quarter, up 0.19 percentage points from the previous three months, the National Statistics Institute said. The rate is the highest in the eurozone and is worse than Spain's previous record of 24.55 percent hit in 1994, according to the country's Labor Force Survey.

The institute said 53,500 more people joined the ranks of the jobless between April and June, making for a total of 5.69 million people out of work.

For those under 25 years of age, the unemployment rate climbed to 53 percent, from 52 percent in the previous quarter.

Spain is battling to avoid having to seek a full-blown financial bailout as it struggles to emerge from its second recession in three years and strives to convince investors it can manage its finances.

The government is adamant it won't need help.

"No rescue is going to be sought, the idea of a rescue is discarded," Deputy Prime Minister Soraya Saenz de Santamaria said.

Spain has asked for as much as €100 billion ($123 billion) in loans for its banks, which are laden with soured investments following a property sector collapse in 2008. A sovereign bailout for Spain, which has a €1 trillion economy, would be far larger.

The IMF, which has been involved in bailing out other European countries in recent years, said European leaders needed to complete reforms and fix the flaws in the euro monetary union.

"The problems that Spain faces in the financial markets go beyond the country's borders, and speak to the design flaws in the eurozone," said James Daniel, IMF mission chief for Spain.

One of the measures that European leaders promised — and would help Spain — is to create a European banking authority that could give rescue loans directly to banks. Under Spain's current deal, the government is ultimately liable for the banks' rescue loans.

But setting up a Europe-wide banking regulator could take months or years.

Besides the banks, Spain's regional governments are also in financial trouble. Many of the 17 semi-autonomous regions are so heavily in debt that they cannot raise money on their own on financial markets. Two regional governments have already said they will tap an €18 billion federal emergency credit line.

Fears that the central government could be overwhelmed by the cost of saving its banks and regions pushed its borrowing rates on bond markets to unsustainable highs earlier this week.

Those borrowing rates fell back down on Thursday and Friday, however, after European Central Bank chairman Mario Draghi told business leaders in London that the bank would do whatever was necessary to save the euro.

The benchmark 10-year bond yield fell 0.17 percentage points to 6.73 percent on Friday.

A rate of 7 percent is deemed untenable over the long term and Spain has been suffering it for several weeks.

Investors fear that if Spain were to need a full rescue - like Greece, Ireland and Portugal - this could seriously challenge the bloc's financial system and the euro itself. Spanish leaders have been pleading with the ECB to intervene by showing support for Spain and equally troubled Italy by buying up bonds to bring down the interest rate.

The country's benchmark IBEX-35 stock index rallied 3.9 percent to 6,618 at close of trading Friday.

The crisis and the government's reforms and austerity measures have led to almost daily protests by workers throughout Spain. On Friday, several thousand taxi drivers marched through the center of Madrid protesting local government plans to open up the sector to more drivers.

Violence broke out when some protesters began attacking several taxis not taking part in the protest, breaking windows, wing mirrors and beating the bodywork. In at least one incident, an elderly passenger was ordered out of a taxi before the protesters began attacking the vehicle.

___

Paul White contributed to this report.

"Choose a job you love and you will not have to work a day in your life" (Confucius)

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Luis Miguel Goitizolo

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RE: ARE WE NOW IN THE END TIMES?
7/28/2012 12:09:18 AM

TARP Was Even Worse Than You Think: “An Abysmal Failure,” Barofsky Says

By Aaron Task | Daily Ticker7 hours ago

Most Americans have a sense TARP was a badly managed program that bailed out "fat cat" bankers at the expense of U.S. taxpayers. Well, it's even worse than you think, according to Neil Barofsky, former special inspector general for TARP (SIGTARP).

Officials in both the Bush and Obama administrations took the attitude "bankers know best," Barofsky recalls. "It was somewhat shocking how much control big banks had over their own bailout [and] the overwhelming deference show by Treasury officials to the banks."

Much has been made about Barofsky's criticism of Treasury Secretary Tim Geithner, who told CBS News he is "deeply offended" by how he's portrayed in Barofsky's book Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street.

Barofsky pulled no punches in our earlier segment about the ongoing rate-rigging scandal. (See: "I Hope We See People In Handcuffs": Neil Barofsky Weighs in on LIBOR Scandal)

In the accompanying video, we focused more on TARP's failings to live up to its promise to help individual Americans, not just the big banks.

Congress never would've passed TARP if not for programs included in the program to help homeowners facing foreclosure and generally spur bank lending. "TARP was an abysmal failure on those very important goals the reason why they got that money to give to the banks in the first place," Barofsky says.

TARP "did help prevent financial Armageddon," he concedes. "But there's a reason why Congress required and Treasury promised TARP would do a lot more. It's not complicated to take hundreds of billions [of dollars] and pour them into institutions ... and they don't fail. You really can't evaluate TARP" exclusively on how it impacted the banks.

Similarly, Barofsky takes offense to Treasury's repeated proclamations that TARP has been profitable.

While the big banks have paid back their loans, the overall program is now projected to lose somewhere between $32 billion to $70 billion, with $109.1 billion owed as of June 30, according to SIGTARP. Most of those losses are tied to AIG -- Treasury still own 61% of the company -- but more than half of the 325 banks that received TARP aid have missed dividend or interest payments.

"The bottom line is [the government] still expects tens of millions of losses on TARP," Barofsky says. "The losses are a lot less than originally anticipated but this resorting to trickery really shows you they're trying to cover up how badly TARP has failed in its other goals of helping homeowners and increasing lending to the economy."

Aaron Task is the host of The Daily Ticker. You can follow him on Twitter at @aarontask or email him at altask@yahoo.com

"Choose a job you love and you will not have to work a day in your life" (Confucius)

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