The Crisis Is Spreading: China, Australia, Brazil, Canada, Sweden…

Keith Dicker
IceCap : August 2015

Governments all around the world have borrowed too much money and the weight of these debts are choking economic growth.

And to make matters worse – these very same governments and their central banks have implemented various plans that have only made matters worse.

The global debt crisis has escalated to a point where the government bond bubble has inflated itself to become the mother of all bubbles. It’s going to burst, and when it does it wont be pretty.

Further evidence to support our view is as follows:

Canada – the collapse in oil and commodity markets has pushed the country into recession and the Canadian Dollar to decline to levels lower than that reached during the 2008 crisis.

Oil dependent provinces Alberta and Newfoundland remain in deep denial. Since everyone in these provinces have only ever experienced a booming oil market, many naively believe things will bounce back – and quickly.

Meanwhile, both Toronto and Vancouver housing markets also remain in denial as they continue to go gangbusters. Buyers today are likely buying at all-time highs.

And as we predicted last year, the Bank of Canada has cut (not raised) interest rates twice in the last 6 months.

We fully expect the Bank of Canada to eventually cut interest rates to 0% and start a money printing program as well. And for the stunner – NEGATIVE interest rates will not be that far behind.

Australia – Over the last 20 years, China has been viewed as the growth engine of the world, and justifiably so. With annual growth rates between 8% to 15%, China’s economy was literally eating every rock, stalk and barrel of practically every commodity in the world.

And naturally, any country or company that produced these commodities made a tonne of money – including Australia.

Today, China’s growth rate has slowed to about 3% which is a dramatic slow down compared to what it achieved in the past. This slowdown and China’s effort to even maintain these rates, will have significant repercussions around the world.

And the first up to bear the brunt of this slowdown is its closest supplier of raw materials – Australia.

With dark clouds on the economic horizon, the Australian government and central bank is doing everything possible to prevent the unpreventable recession.

Interest rates have been reduced to all-time historical lows, meanwhile the Australian Dollar has plummeted -25% over the last year. Yet – the negative outlook has not improved.

Brazil – Like Australia, Brazil has benefitted immensely from China’s growth. And now, also like Australia, it too is feeling the affects of the dramatic Chinese slowdown.

The economy has now declined for 12 consecutive months making it both the longest and deepest recession in 25 years.

But wait – it gets worse. Despite declining growth, inflation continues to soar higher causing interest rates to rise as well.

And if that wasn’t bad, also know that the Brazilian currency has fell off the cliff at -53%.

Sweden – Unlike Australia and Brazil, Sweden relies very little on China as a buyer of last resort. Yet, the Swedish economy is also not very hot these days.

In fact, instead of spectacular and dramatic declines in anything, it is doing the exact opposite – it just isn’t moving.

While Sweden isn’t in the Eurozone, it is smack dab next to it and that in itself is reason enough for the lack of growth. We’ve written before how the debt crisis in the Eurozone is acting like a giant, slow moving tornado that is sucking the life out of the economy and everything near by. And unfortunately for Sweden, it is very near by.

While economic growth in the Nordic state hasn’t declined, it hasn’t accelerated either – and this is what has many worried.

So worried, that the central bank shocked everyone not once but twice, by first announcing that they would begin to print money, and then when they announced that interest rates would be NEGATIVE.

These actions are so severe, that we need to repeat them:

1) MONEY PRINTING
2) NEGATIVE INTEREST RATES

It is hoped that these actions will cause people and companies to loosen their wallets and start spending again. Yet, what the government and the central bank doesn’t understand is that these actions will actually make the problem worse.

As the global economy continues to move as we expect, there is nothing Sweden can do to change what is coming – a global recession and a significantly weaker Krona.

China, Australia, Brazil, Canada, Sweden – it is beyond us how anyone can declare the crisis isn’t spreading.

* * *

IceCap’s full letter below

Fukushima Fallout? Whales are dying in Pacific Ocean

Alternative Free Press

Mainstream media continues to ignore the possibility that radiation from Fukushima building up in the Pacific Ocean for four years could be what is killing whales in unprecedented numbers.

“Alaskan researchers report that at least nine fin whales have been found dead in the water in recent weeks. It’s rare for more than one such death to be discovered every year or so, they say, and they’re exhaustively searching for a possible cause. It’s possible that warming ocean temperatures could be partially to blame.” Washington Post (June 2015)

“In only one week, the corpses of four humpback whales have been found along Canada’s west coast, fueling questions of whether their deaths are connected to a recent uptick of whale and other marine animal deaths in Alaskan waters. So far scientists don’t know what’s causing the deaths, but some believe they could be connected to warmer than average ocean temperatures that have caused unusual and potentially poisonous algae blooms.” Vice (August 2015)

Most mainstream media has ignored Fukushima for years, downplaying the severity and failing to report on the ongoing problems, such as:

Radioactive isotope Strontium-90 spikes at Fukushima; highest reading ever(July 2015)

Japan delays nuclear fuel removal schedule for Fukushima plant(June 2015)

Fukushima: Record Levels of Radioactivity Detected in Seawater — Spiked “More than 200 Times” at Sampling Location(June 2015)

Fukushima’s “Caldrons of Hell”: More than 300 Tons of Highly Radioactive Water Generated Daily(May 2015)

TEPCO Admits Fukushima Is Leaking Again – Over 600x ‘Safe’ Radiation Levels(May 2015)

Fresh leak at Fukushima nuclear plant sees 70-fold radiation spike(February 2015)

These recent whale deaths are continuing a trend. Back in April we reported: Fukushima Fallout? Emergency closure of fishery along entire West Coast – “Catastrophic crash… Population decimated”

Compiled by Alternative Free Press
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US Military Uses IMF and World Bank to Launder 85% of Its Black Budget

Jake Anderson
The Anti Media: August 13, 2015

[…]
The CIA and and NSA alone garnered $52.6 billion in funding in 2013 while the Department of Defense black ops budget for secret military projects exceeds this number. It is estimated to be $58.7 billion for the fiscal year 2015.

What is the black budget? Officially, it is the military’s appropriations for “spy satellites, stealth bombers, next-missile-spotting radars, next-gen drones, and ultra-powerful eavesdropping gear.

However, of greater interest to some may be the clandestine nature and full scope of the black budget, which, according to analyst Catherine Austin Fitts, goes far beyond classified appropriations. Based on her research, some of which can be found in her piece “What’s Up With the Black Budget?,” Fitts concludes that the during the last decade, global financial elites have configured an elaborate system that makes most of the military budget unauditable. This is because the real black budget includes money acquired by intelligence groups via narcotics trafficking, predatory lending, and various kinds of other financial fraud.

The result of this vast, geopolitically-sanctioned money laundering scheme is that Housing and Urban Devopment and other agencies are used for drug trafficking and securities fraud. According to Fitts, the scheme allows for at least 85 percent of the U.S. federal budget to remain unaudited.

Fitts has been researching this issue since 2001, when she began to believe that a financial coup d’etat was underway. Specifically, she suspected that the banks, corporations, and investors acting in each global region were part of a “global heist,” whereby capital was being sucked out of each country. She was right.

As Fitts asserts,

“[She] served as Assistant Secretary of Housing at the US Department of Housing and Urban Development (HUD) in the United States where I oversaw billions of government investment in US communities…..I later found out that the government contractor leading the War on Drugs strategy for U.S. aid to Peru, Colombia and Bolivia was the same contractor in charge of knowledge management for HUD enforcement. This Washington-Wall Street game was a global game. The peasant women of Latin America were up against the same financial pirates and business model as the people in South Central Los Angeles, West Philadelphia, Baltimore and the South Bronx.”

This is part of an even larger financial scheme. It is fairly well-established by now that international financial institutions like the World Trade Organization, the World Bank, and the International Monetary Fund operate primarily as instruments of corporate power and nation-controlling infrastructure investment mechanisms. For example, the primary purpose of the World Bank is to bully developing countries into borrowing money for infrastructure investments that will fleece trillions of dollars while permanently indebting these “debtor” nations to West. But how exactly does the World Bank go about doing this?

John Perkins wrote about this paradigm in his book, Confessions of an Economic Hitman. During the 1970s, Perkins worked for the international engineering consulting firm, Chas T. Main, as an “economic hitman.” He says the operations of the World Bank are nothing less than “pure economic colonization on behalf of powerful corporations and banks that use the United States government as their tool.”

In his book, Perkins discusses Joseph Stiglitz, the Chief Economist for the World Bank from 1997-2000, at length. Stiglitz described the four-step plan for bamboozling developing countries into becoming debtor nations:

Step One, according to Stiglitz, is to convince a nation to privatize its state industries.

 

Step Two utilizes “capital market liberalization,” which refers to the sudden influx of speculative investment money that depletes national reserves and property values while triggering a large interest bump by the IMF.

 

Step Three, Stiglitz says, is “Market-Based Pricing,” which means raising the prices on food, water and cooking gas. This leads to “Step Three and a Half: The IMF Riot.” Examples of this can be seen in Indonesia, Bolivia, Ecuador and many other countries where the IMF’s actions have caused financial turmoil and social strife.

 

Step Four, of course, is “free trade,” where all barriers to the exploitation of local produce are eliminated.

[…]

(read the full article at The Anti Media)

Monsters Of Ukraine: Made In The USA

Justin Raimondo
AntiWar.com : July 31, 2015

We’re in the summer doldrums of the news cycle, a perfect time for our government and the media – or do I repeat myself? – to drop certain inconvenient stories down the Memory Hole. My job, of course, is to retrieve them….

Remember Ukraine? I seem to recall blaring headlines about a supposedly “imminent” and “massive” Russian invasion of that country: the Anglo-Saxon media was ablaze with a veritable countdown to D-Day and we were treated to ominous sightings of Russian troops and tanks gathering at the border, allegedly just awaiting the order from Putin to take Kiev. And it turns out there has been an invasion, of sorts – although it isn’t a Russian one. It’s the Kiev regime’s own foot-soldiers returning from the front and turning on their masters.

The war is going badly for the government of oligarch Petro Poroshenko. The east Ukrainians, who rose in revolt after the US-sponsored coup threw out democratically elected President Viktor Yanukovych, show no signs of giving up: they’ve repulsed the “anti-terrorist” campaign launched by Kiev, withstanding relentless bombardment of their cities and enduring many thousands of casualties, not to mention widespread destruction. Indeed, the brutal protracted war waged by Kiev against its own “citizens” has arguably steeled the rebels’ resolve and made any thought of reconciliation unthinkable.

As is usual with violent fanatics, the war aims of the Kiev coup leaders – to bring the eastern provinces back into the fold – have been rendered impossible by their methods and conduct. The de facto blockade imposed on the east has bound the separatists all the more tightly to Russia, and so economics as well as searing hatred of a government the easterners regard as “fascist” has sealed the country’s fate.

Unable to crack the rebels’ resolve, the “revolutionaries” who once gathered in the Maidan have begun to turn on each other. Poroshenko, fearful of the rising power of the far-right militias who make up the backbone of his makeshift army, has ordered their dissolution – and the rightists are resisting.

A standoff between the Right Sector militia and Ukrainian police the other day culminated in a pitched battle as the rightists attacked police positions in Mukachevo, in western Ukraine, and took a six-year-old boy hostage. A dispute over control of the local cigarette smuggling operation had ended with two Right Sector thugs killed and seven others – it’s not clear which side they belonged to – injured. The rightists used grenade launchers to pulverize two police cars. Oh well, no worries, Washington will send replacements…. for both the cars and the launchers.

The big problem for the Kiev regime is that Right Sector and allied far-rightist militias are the core of their military operation against the east. Right Sector provided the muscle of the Maiden revolution, standing in the front lines against the widely feared Berkut special forces loyal to Yanukovych. If these thugs must be reined in, then the success of the “anti-terrorist” campaign is doubtful: yet Kiev is increasingly unwilling to pay the high price of appeasing their increasingly troublesome Praetorians.

The aftermath of the Mukachevo stand off was a clear victory for the rightists, who saw their leader, Dmytro Yarosh, a member of parliament, negotiating with the Interior Ministry – and Right Sector militia blocking the road from Kiev to the scene of the fighting. The result was an announcement from the Interior Ministry that the police chief of Mukachevo has been suspended, pending an “investigation” of the charges of aiding and abetting smuggling.

In short, Right Sector emerged victorious. Following up their victory, the group declared that a national referendum will be held – without gathering the required signatures, and under their sponsorship – on multiple questions, essentially demanding that their entire program for the nation be adopted. They call for a formal declaration of war against Russia, a complete blockade of the eastern provinces, martial law, and the legalization of their militias. Oh yes, and they also want the present government, up to and including Poroshenko, to be impeached.

Mired in debt, and rapidly sinking into an economic abyss, Ukraine is literally coming apart at the seams – and the ugly underside of the Maiden “revolution” is being exposed to the light of day. The most recent atrocity is the uncovering of a torture chamber used by members of the “Tornado” Battalion, another far-right grouping, in which militia members kidnapped, tortured, raped, and robbed citizens in the eastern Luhansk region, where the government is fighting to retain some modicum of control. Eight members of the Tornado militia were recently arrested and are being held by military prosecutors in Kiev: the Tornado “volunteers,” who mostly consist of ex-convicts, defend their actions by claiming that this is just retaliation because they uncovered a smuggling operation run by local officials – who, they say, are collaborating with the rebels. They initially refused to lay down their arms and barricaded themselves into their camp.

The Aidar Battalion, also operating in eastern Ukraine, has been accused by Amnesty International of committing war crimes: that was in 2014, but the charges were largely ignored until the local governor began to complain. Aidar’s leader, member of parliament Serhiy Melnychuk, of the ultra-nationalist Radical Party, has been stripped of immunity from prosecution and charged with kidnapping, issuing threats, and operating a criminal gang.  Melnychuk, while admitting there was “some looting,” attributed the dissolution of the Aidar Battalion by authorities to “Russian propaganda” and revealed that some members are still operating independently in Luhansk.

Then there’s the openly neo-Nazi Azov Brigade, whose members sport fascist symbols from the World War II era, and whose leader, Andriy Biletsky, declares that the goal of his group is to “lead the White Races of the world in a struggle for their survival.” There was so much bad publicity surrounding the Azov Battalion that the US Congress unanimously passed legislation forbidding any aid to the group – a provision, as this piece by Joseph Epstein in the Daily Beast points out, that is essentially unenforceable:

“In an interview with The Daily Beast, Sgt. Ivan Kharkiv of the Azov battalion talks about his battalion’s experience with U.S. trainers and US volunteers quite fondly, even mentioning US volunteers engineers and medics that are still currently assisting them. He also talks about the significant and active support from the Ukrainian diaspora in the US As for the training they have and continue to receive from numerous foreign armed forces. Kharkiv says ‘We must take knowledge from all armies… We pay for our mistakes with our lives.’

 

“Those US officials involved in the vetting process obviously have instructions to say that US forces are not training the Azov Battalion as such. They also say that Azov members are screened out, yet no one seems to know precisely how that’s done. In fact, given the way the Ukrainian government operates, it’s almost impossible.”

Yes, your tax dollars are going to arm, train, and feed neo-Nazis in Ukraine. That’s what we bought into when Washington decided to launch a regime change operation in that bedraggled corner of southeastern Europe. Your money is also going to prop up the country’s war-stricken economy – albeit not before corrupt government officials rake their cut off the top.

(read the full article at antiwar.com)

Obama Authorizes “Defensive” Airstrikes Against Assad Regime In Syria

Zero Hedge: August 3, 2015

[…]
If the goal was to field a fierce band of well-trained warriors to rout Islamic State, then things aren’t going so well. If, however, the idea was simply to give the US an excuse to get directly involved in facilitating the swift demise of Bashar al-Assad now that his forces have been largely decimated by a three-front war, well it’s mission accomplished, because as WSJ reports, President Obama has now authorized US airstrikes against Assad’s army in the event they interfere with America’s very serious 50 solider effort to combat ISIS. Here’s more:

President Barack Obama has authorized using air power to defend a new U.S.-backed fighting force in Syria if it is attacked by Syrian government forces or other groups, raising the risk of the American military coming into direct conflict with the regime of President Bashar al-Assad.

 

U.S. officials said the decision ended a monthslong debate over the role the American military should play in supporting its few allies on the battlefield in Syria. Administration officials had been deeply concerned that defending the Pentagon-backed force could inadvertently open the first open conflict with the Assad government, which has denounced the U.S. program.

 

Though the new rules allow Pentagon strikes to defend the U.S.-allied force against any regime attacks, U.S. military officials played down the chances of a direct confrontation, at least in the near term. The newly trained force has committed to fighting Islamic State, not the regime, and won’t be fielded in areas the regime controls. U.S. officials say they believe the regime won’t challenge the new force.

 

Officials said another impetus for the decision was the recent insertion of the first group of Pentagon-trained fighters into northern Syria, where last week they were ambushed by al Qaeda-linked fighters.

 

The Pentagon has struggled to recruit and vet rebels for the new train-and-equip program which it launched last year, in part because the U.S. is asking them to fight Islamic State instead of the Assad regime. Most rebels see the government as their main enemy. U.S. military officials say fewer than 60 rebels have completed the Pentagon training program and re-entered the fight so far, casting doubt on the effort.

 

Defense Secretary Ash Carter has acknowledged the recruitment problems, but he has said the effort is essential to the administration’s strategy to turn the tide against Islamic State. 

 

While the new rules don’t explicitly name the Assad regime, officials said the guidelines will allow the Pentagon to defend the new force against any attackers, including the regime and the Nusra Front, Syria’s al Qaeda affiliate.

 

“For offensive operations, it’s ISIS only. But if attacked, we’ll defend them against anyone who’s attacking them,” said a senior military official. “We’re not looking to engage the regime, but we’ve made a commitment to help defend these people.”

Yes, the US isn’t looking for a fight with Assad, but now Washington is willing to concede that “engaging” the regime might be necessary should it inexplicably decide to attack a group of US-trained fighters who are ostensibly battling the same group that the regime is fighting.

Of course Assad might be forgiven for being a bit confused as to exactly what’s going on because after all, the CIA is conducting a parallel program explicitly designed to facilitate his ouster. Here’s WSJ again

The U.S. hasn’t yet used air power to help defend the new force against the regime, and military officials made clear they hoped that day would never come because of the risk it could lead to a direct conflict between the U.S. and the Assad government, which is backed by Russia and Iran.

 

Last year, the Nusra Front attacked rebel groups linked to a separate train-and-equip program run by the Central Intelligence Agency. The assault pushed the CIA-backed rebels out of northern Syria.

 

In response, the spy agency has shifted its support to rebel units in the south. In contrast to the Pentagon program, the CIA program has been focused on fighting the Assad regime.

Obviously, this looks like a rather transparent effort to make it effectively impossible for Assad to avoid open conflict with the US. Recall that in June, when Obama was criticized for having no clear plan to combat ISIS, we suggested that in reality, the plan may be simply to wait until the Assad regime was on the ropes and then storm in to “liberate” the country from its “terror-linked” conquerors.

Of course that effort will need plenty of PR sparkle to ensure the American public gets behind the whole “boots on the ground” idea which the administration has so far pledged isn’t on the table, so being able to say that the Assad regime is actively interfering with the fight against ISIS would serve as a nice cover story and indeed, don’t be surprised when the reports start to trickle in that airstrikes on regime forces were necessary to “defend” Pentagon-linked freedom fighters. 

Once again, ISIS is but a distraction here. The goal from the start was to destabilize the Assad government and ultimately to bring about regime change in order to facilitate the geopolitical and economic agenda of the US and its regional allies. Islamic State was and is simply a cover story. What’s particularly unnerving is the degree to which the group is now being used by Turkey as an excuse to exterminate Ankara’s political rivals. In other words, ISIS is no longer just a red herring for the willful usurpation of Assad – it now appears as though NATO members have been given free reign to capitalize politically and economically on the world’s detestation of Islamic State. 

(read full article atZero Hedge)

Fukushima fishermen OK TEPCO plan to release “decontaminated” water into sea

THE ASAHI SHIMBUN : July 28, 2015

Fishermen in northern Fukushima Prefecture gave Tokyo Electric Power Co. the green light on July 27 to release radioactive groundwater from the crippled Fukushima No. 1 nuclear power plant into the ocean after it undergoes decontamination treatment.

The Soma-Futaba fisheries cooperative association approved TEPCO’s “subdrain plan” at a board member meeting after earlier approval by the Iwaki fisheries union, which brings together fishermen operating on the southern Fukushima coast, to back the plant operator’s plan.

After the decisions by the two fisheries unions, the Fukushima Prefectural Federation of Fisheries Cooperative Associations is expected to formally approve the subdrain plan in mid-August at the earliest.

To deal with the accumulation of contaminated groundwater at the plant, TEPCO and the central government implemented from May last year a “groundwater bypass” that intercepts clean groundwater before it flows into contaminated reactor buildings and reroutes it safely around the facility into the ocean.

Under the subdrain plan, the utility will pump 500 tons of water from 41 subdrain wells around the premises of the plant’s four crippled reactors each day. It expects that the amount of groundwater flowing into the reactor buildings will be drastically reduced, and the amount of contaminated water generated at the plant will be halved from the current levels.

The water will be released into the sea after it undergoes decontamination treatment to reduce cesium levels to below 1 becquerel and beta ray-emitting radioactive materials to less than 3 becquerels.

Because the decontamination equipment cannot remove tritium, water contaminated with the radioactive isotope that emits 1,500 becquerels or more of radiation will not be released into the sea.

TEPCO has sought the fisheries cooperatives’ approval of the subdrain plan.

But TEPCO’s delay in disclosing the flow of radioactive water into the ocean whenever it rained–which came to light in February–hampered negotiations with the fisheries unions, which felt the incident undermined their confidence in the utility.

At the meeting of the board members of the Soma-Futaba fisheries union, TEPCO officials explained that the subdrain plan was essential in reducing the flow of contaminated water into the ocean, according to Hiroyuki Sato, the union president.

(read the full article at Asahi)

RELATED:

Radioactive isotope Strontium-90 spikes at Fukushima; highest reading ever(July 2015)

Japan delays nuclear fuel removal schedule for Fukushima plant(June 2015)

Fukushima: Record Levels of Radioactivity Detected in Seawater — Spiked “More than 200 Times” at Sampling Location(June 2015)

Risk of hydrogen explosion from leaking containers at Fukushima plant(May 2015)

Fukushima’s “Caldrons of Hell”: More than 300 Tons of Highly Radioactive Water Generated Daily(May 2015)

TEPCO Admits Fukushima Is Leaking Again – Over 600x ‘Safe’ Radiation Levels(May 2015)

Fresh leak at Fukushima nuclear plant sees 70-fold radiation spike(February 2015)

Fukushima Didn’t Just Suffer 3 Meltdowns … It Also Suffered Melt-THROUGHS and Melt-OUTS(April 2014)

Fukushima boss admits radioactive water out of control(April 2014)

Fukushima Storage Crisis: Full Of Radioactive Water(March 2014)

Canadian Soil Tests Positive for Fukushima Radiation(March 2014)

Fukushima’s Radioactive Ocean Water Arrives At West Coast(February 2014)


Alternative Free Press -fair use-

Soil shields disabled & nitrogen circulation halted at Fukushima

Accidental power cable damage briefly disables frozen soil shields at Fukushima No. 1

The Japan Times: July 29, 2015

Frozen soil shields aimed at curbing the buildup of radioactive water were temporarily disabled at Tokyo Electric Power Co.’s stricken Fukushima No. 1 nuclear power plant on Tuesday.

The problem occurred after a power cable was damaged by mistake, Tepco said. […]

The underground shields, designed to block groundwater from flowing into the basements of the stricken reactor buildings, were restarted later in the day.

The power leakage also halted a device circulating nitrogen reactors1, 2 and 3 to prevent hydrogen explosions.

According to Tepco, a plant worker found white smoke around the power cable at around 8:35 a.m.

(read the full article at The Japan Times)

RELATED:

Radioactive isotope Strontium-90 spikes at Fukushima; highest reading ever(July 2015)

Japan delays nuclear fuel removal schedule for Fukushima plant(June 2015)

Fukushima: Record Levels of Radioactivity Detected in Seawater — Spiked “More than 200 Times” at Sampling Location(June 2015)

Risk of hydrogen explosion from leaking containers at Fukushima plant(May 2015)

Fukushima’s “Caldrons of Hell”: More than 300 Tons of Highly Radioactive Water Generated Daily(May 2015)

TEPCO Admits Fukushima Is Leaking Again – Over 600x ‘Safe’ Radiation Levels(May 2015)

Fresh leak at Fukushima nuclear plant sees 70-fold radiation spike(February 2015)

Fukushima Didn’t Just Suffer 3 Meltdowns … It Also Suffered Melt-THROUGHS and Melt-OUTS(April 2014)

Fukushima boss admits radioactive water out of control(April 2014)

Fukushima Storage Crisis: Full Of Radioactive Water(March 2014)

Canadian Soil Tests Positive for Fukushima Radiation(March 2014)

Fukushima’s Radioactive Ocean Water Arrives At West Coast(February 2014)

UK put three-year-old child on terrorist watch list

London child aged THREE in terror alert over radicalisation

David Churchill
The London Standard : July 27, 2015

A three-year-old child is among hundreds of young Londoners who have been identified as potential future extremists or at risk of radicalization.

The disturbing tally, revealed today by the Evening Standard, is contained in new statistics which paint the most detailed picture so far of the scale of the security challenge facing police and intelligence agencies in the capital.

They show that a total of 1,069 Londoners have been referred to the government’s “Channel” counter-extremism programme since the start of 2012.

That means that the capital accounts for about a quarter of the 4,000 referrals to the programme nationwide since then. The Standard, which obtained the figures from the London Assembly, can also reveal that:

Since September last year, 400 Channel referrals were made for teenagers and children under 18.

450 Londoners, including 300 under-18s, are part of the Met’s “Prevent Case Management” process, linked to Channel.

(read the full article at The London Standard)

Toshiba inflated profits by $1.2 billion with top execs’ knowledge

Ritsuko Ando
Reuters: July 20, 2015

Japan’s Toshiba Corp overstated its operating profit by 151.8 billion yen ($1.22 billion) over several years in accounting irregularities involving top management, an independent investigation said in a report on Monday.

In the country’s biggest corporate scandal in years, the findings could lead to the restatement of earnings, a board overhaul and potentially hefty fines at the computers-to-nuclear conglomerate.

Toshiba President and Chief Executive Hisao Tanaka and his predecessor, Vice Chairman Norio Sasaki, were aware of the overstatement of profits and delay in reporting losses in a corporate culture that “avoided going against superiors’ wishes,” the investigating committee said in a report filed by Toshiba to the Tokyo Stock Exchange.

The overstatement was roughly triple Toshiba’s initial estimate. Sources have said Tanaka and Sasaki would resign in the coming months and most of the board would be replaced to take responsibility for the shortcomings.

The report said Tanaka and Sasaki had set operating profit targets that the heads of divisions were required to meet, applying pressure by hinting at withdrawing from areas that underperformed.

“Within Toshiba, there was a corporate culture in which one could not go against the wishes of superiors,” the report said.

“Therefore, when top management presented ‘challenges’, division presidents, line managers and employees below them continually carried out inappropriate accounting practices to meet targets in line with the wishes of their superiors.”

Greek “Hell” Remains After Athens Uses Creditor Money To Repay Creditors

Zero Hedge: July 20, 2015

Earlier today, Greece used up virtually its entire €7.1 billion bridge loan from the EU to repay its creditors: between the money due to the ECB, the arrears to the IMF and the cash borrowed from the Greek central bank, Athens had about €300 million left over from the entire inbound wire to use as it sees fit just hours after the money was received, and then promptly sent right back.

Or, as some put it, Greece collected a 4% transaction fee for facilitating a €6.8 billion payment from its creditors to its creditors.

So does this mean things are “fixed” in Greece, if only temporarily? Not exactly, as the following table shows, there is exactly one month until the next €3.2 billion payment is due to the ECB. So unless Europe finalizes the terms of the third €86 billion EFSF bailout in the next 4 weeks, Greece will need another bridge loan just to repay the ECB.

Ok, but if Greece somehow survives until the end of 2015 despite a new government and with blistering VAT hikes, even as bank lines to withdraw money refuse to go away, then will it finally be ok?

Well, no.

As we showed before when we showed the various Greek circle of debt hell, unless Greece finds a way to access the market once again following its “triumphal return” in mid-2014 when it issued bonds that cost investors (with other people’s money) their 2015 bonus, it is only then that the Greek debt repayment hell begins.

(read the full article at zero hedge)

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