Monthly Archives: June 2012

EU Leaders Discuss Possible Greek Exit, Seek Legal Advice

By Beckett Adams | From TheBlaze.com | On June 12th, 2012

As the possibility of a Greek exit becomes more likely, leaders in the European Union are seeking legal advice from the European Commission on how to shift money and keep people within borders, the Associated Press reports.

“European finance officials have discussed limiting the size of withdrawals from ATM machines, imposing border checks and introducing euro zone capital controls as a worst-case scenario should Athens decide to leave the euro,” Reuters reports.

E.U. spokesman Olivier Bailly said Tuesday that, legally, the EU can limit the movement of people and money across national borders “if it’s necessary to protect public order or public security.”

“There is a possibility for member states to restrict movement of capital in specific cases relating to public order and public security,” Bailly told reporters.

Yes, you read that right. The EU can legally limit the movement of people and capital if it deems it a “safety issue.”

Bailly added that the EU cannot restrict the movement of people or money if it’s for “economic reasons.” But who gets to define what’s a “safety issue” and what’s an economic issue? The same people who thought it was a good idea to let Greece into the eurzone?

“Some people are working on scenarios,” he said, but refused to confirm or identify which organizations and people were working on them.

Perhaps hoping to calm anxious investors, Bailly insisted that although multiple scenarios are being discussed, the only one that’s being taken seriously is one where Greece remains in the 17-nation union.

“The Commission is not working on a Greek exit plan,” Bailly said, according to the Wall Street Journal.  “We‘re working on one plan and one plan only and that’s to keep Greece in the euro zone.”

This article was originally posted at http://www.theblaze.com/stories/is-the-eu-preparing-for-a-breakup/

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About The Author: RSOP is the co-founder & Executive Editor of Radical Survivalism Webzine, as well as a Family Preparedness Consultant with nearly five years of personal experience in the self-reliance game. RSOP's many preparedness roles within his own group include team mechanic, head of security, electrician, and project designer/engineer.

Groups Concerned Over Arming Of Domestic Drones

From Washington.CBSLocal.com | On Wed, May 23rd, 2012

Artwork depicting an armed US Predator UAV

Artwork depicting a fully armed US Predator UAV

WASHINGTON (CBSDC) – With the use of domestic drones increasing, concern has not just come up over privacy issues, but also over the potential use of lethal force by the unmanned aircraft.

Drones have been used overseas to target and kill high-level terror leaders and are also being used along the U.S.-Mexico border in the battle against illegal immigration. But now, these drones are starting to be used domestically at an increasing rate.

The Federal Aviation Administration has allowed several police departments to use drones across the U.S. They are controlled from a remote location and use infrared sensors and high-resolution cameras.

Chief Deputy Randy McDaniel of the Montgomery County Sheriff’s Office in Texas told The Daily that his department is considering using rubber bullets and tear gas on its drone.

“Those are things that law enforcement utilizes day in and day out and in certain situations it might be advantageous to have this type of system on the UAV (unmanned aerial vehicle),” McDaniel told The Daily.

The use of potential force from drones has raised the ire of the American Civil Liberties Union.

“It’s simply not appropriate to use any of force, lethal or non-lethal, on a drone,” Catherine Crump, staff attorney for the ACLU, told CBSDC.

Crump feels one of the biggest problems with the use of drones is the remote location where they are operated from.

“When the officer is on the scene, they have full access to info about what has transpired there,” Crump explained to CBSDC. “An officer at a remote location far away does not have the same level of access.”

The ACLU is also worried about potential drones malfunctioning and falling from the sky, adding that they are keeping a close eye on the use of these unmanned aircraft by police departments.

“We don’t need a situation where Americans feel there is in an invisible eye in the sky,” Jay Stanley, senior policy analyst at ACLU, told CBSDC.

Joshua Foust, fellow at the American Security Project, feels domestic drones should not be armed.

“I think from a legal perspective, there is nothing problematic about floating a drone over a city,” Foust told CBSDC. “In terms of getting armed drones, I would be very nervous about that happening right now.”

McDaniel says that his community should not be worried about the department using a drone.

“We’ve never gone into surveillance for sake of surveillance unless there is criminal activity afoot,” McDaniel told The Daily. “Just to see what you’re doing in your backyard pool — we don’t care.”

But the concern for the ACLU is just too great that an American’s constitutional rights will be trampled with the use of drones.

“The prospect of people out in public being Tased or targeted by force by flying drones where no officers is physically present on the scene,” Crump says, “raises the prospect of unconstitutional force being used on individuals.”

This article was originally posted at: http://washington.cbslocal.com/2012/05/23/groups-concerned-over-arming-of-domestic-drones/

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About The Author: RSOP is the co-founder & Executive Editor of Radical Survivalism Webzine, as well as a Family Preparedness Consultant with nearly five years of personal experience in the self-reliance game. RSOP's many preparedness roles within his own group include team mechanic, head of security, electrician, and project designer/engineer.

Spain Enters New Round Of Quantitive Easing

Spain Sells 2.07B Euros of Bonds, Tops Target

From MarketWatch.com | On June 7th, 2012

FRANKFURT (MarketWatch) — Spain saw borrowing costs rise Thursday in a closely-watched debt auction, but topped its target range, selling a total of 2.07 billion euros ($2.6 billion) of government debt, news reports said. Spain’s Treasury had aimed to sell a total of 1 billion to 2 billion euros of debt. A sale of 10-year government bonds produced an average yield of 6.04%, up from 5.74% in a previous sale, Bloomberg reported. Bids exceeded supply 3.29 times, up from a bid-to-cover of 2.56 in a previous auction, the report said. Spain also sold bonds maturing in 2014 and 2016. In the secondary market, the yield on 10-year Spanish government bonds was down 0.13 percentage point at 6.14%, according to FactSet.

This article was originally posted at http://www.marketwatch.com/story/spain-sells-207b-euros-of-bonds-tops-target-2012-06-07

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About The Author: RSOP is the co-founder & Executive Editor of Radical Survivalism Webzine, as well as a Family Preparedness Consultant with nearly five years of personal experience in the self-reliance game. RSOP's many preparedness roles within his own group include team mechanic, head of security, electrician, and project designer/engineer.

Rehn: EU Weighing Direct European Bank Bailouts

From MarketWatch.com | On June 4th, 2012

Olli Rehn

FRANKFURT (MarketWatch) — The European Commission has considered the possibility of directly recapitalizing euro-zone banks via the region’s permanent bailout fund, but such a maneuver would require a treaty change, Olli Rehn, commissioner for monetary and economic affairs, said Monday, according to news reports. “We have been considering this as a serious possibility, of breaking the link between the sovereigns and the banks,” Rehn said at a briefing in Brussels, according to Reuters. Such moves aren’t allowed under the treaty, “but we see that it is important to consider this alternative of direct bank recapitalization as we are now moving on in the discussion on the possible ways and means to create a banking union,” Rehn said, according to the report.

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About The Author: RSOP is the co-founder & Executive Editor of Radical Survivalism Webzine, as well as a Family Preparedness Consultant with nearly five years of personal experience in the self-reliance game. RSOP's many preparedness roles within his own group include team mechanic, head of security, electrician, and project designer/engineer.

Chinese Buyers of A/Cs, TVs Get New Government Subsidy

By He Chunmei | From Caixin.com | On June 1st, 2012

Government announces the start of a one-year program to help spur domestic consumption.

(Beijing) – Buyers of air conditioners and flat-screen TVs can enjoy subsidies of up to 400 yuan starting June 1, 2012, the government says.

The National Development and Reform Commission and Ministry of the Industry and Information Technology announced the details of the one-year program to boost domestic consumption of home appliances on May 29.

The Ministry of Finance will set aside 26.5 billion yuan for the program.

Consumers can take advantage of the subsidy with either a coupon or it will automatically be deducted from the original purchase price at the counter.

Industry analyst Liu Buchen said the program was aimed at helping the home appliance industry upgrade and to enhance the competitiveness of Chinese manufacturers.

“This measure will improve the sales income and profitability of home appliance makers,” he said. “Consumers will be more inclined to select products made by large companies.”

The central government should not use such measures to intervene in the market economy frequently because it would make companies dependent on them and weaken their competitiveness, Liu said. He added that the big firms had earned their places in the market without the benefit of such help.

Because some small and medium-sized home appliance makers cheated on subsidies when the last program was launched in late 2008, companies with annual sales volume of less than 100,000 units were excluded this time, said an analyst at Orient Securities Co. Ltd., who declined to be named.

Liu Yi, analyst from the China Securities Co. Ltd., said more such subsidies were on the way.

“Economic growth has been declining fast and stabilizing the growth rate is the main task for now,” Liu said. “So we predict that detailed subsidy policies on refrigerators, washing machines and water heaters will come out soon.”

This article was originally posted at http://english.caixin.com/2012-06-01/100396413.html

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About The Author: RSOP is the co-founder & Executive Editor of Radical Survivalism Webzine, as well as a Family Preparedness Consultant with nearly five years of personal experience in the self-reliance game. RSOP's many preparedness roles within his own group include team mechanic, head of security, electrician, and project designer/engineer.

Former Hedge Funder Presents A Terrifying Vision Of The End Game

By By Max Nisen | From BusinessInsider.com | On Jun 1, 2012

Everyday, we hear some pretty grim predictions about the markets and the economy.  But this is one of the more comprehensive and most gloomy outlooks we’ve ever seen.

Raoul Pal expects a series of sovereign defaults, the “biggest banking crisis in world history”, and asserts that we don’t have many options to stop it.

Pal previously co-managed the GLG Global Macro Fund. He is also a Goldman Sachs alum. He currently writes for The Global Macro Investor, a research publication for large and institutional investors.

A note on the presentation; the last slide is not meant to suggest that we’re going back to the economic activity of 3000 years ago. It refers to the 3000 year old trade links between the nations along the Indian Ocean, which Mr. Pal believes will be the center of world’s opportunities. Just like the West 50 years ago, they have “…low debts, high savings and a young population”.

Here is a link to the presentation: http://www.businessinsider.com/raoul-pal-the-end-game-2012-6#-1

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About The Author: RSOP is the co-founder & Executive Editor of Radical Survivalism Webzine, as well as a Family Preparedness Consultant with nearly five years of personal experience in the self-reliance game. RSOP's many preparedness roles within his own group include team mechanic, head of security, electrician, and project designer/engineer.