June 25, 2005 In the News - Comments by Doug Bracewell

Washington has for the first time acknowledged to the United Nations that prisoners have been tortured at US detention centres in Guantanamo Bay, as well as Afghanistan and Iraq, a UN source said on Friday.

Anger as US hinders move by UN to investigate Guantanamo abuse

US officials at a meeting in April had refused to guarantee him the right to speak to detainees in private - an "absolute precondition" for such a visit. He said his team would need full access to the prison population. Robinson, a spokeswoman for the US mission to the UN offices in Geneva, said the response to the team had been delayed because of the US's review process, which was "thorough and independent".

U.S. doctors linked to POW `torture'
"Since late 2003, psychiatrists and psychologists (at Guantanamo) have been part of a strategy that employs extreme stress, combined with behaviour-shaping rewards, to extract actionable intelligence from resistant captives," it(report in the respected New England Journal of Medicine) states.Such tactics are considered torture by many authorities, the authors note -Toronto Star CA

Cheney Says Guantanamo Prisoners Well Fed

``They're very well treated down there. They're living in the tropics. They're well fed. They've got everything they could possibly want,'' Cheney said in a CNN interview. ``There isn't any other nation in the world that would treat people who were determined to kill Americans the way we're treating these people.''

"War critics astonished as US hawk admits invasion was illegal." NOV/03

Mr Perle told an audience in London: "I think in this case international law stood in the way of doing the right thing."

49% Say Bush Responsible for Provoking Iraq War

44% believe Hussein shoulders most of the responsibility.

Gallup: Those Opposed to Military Draft Hit Record High

Americans opposed the return of the military draft by overwhleming numbers, with 85% against it, the highest level ever.

House Cuts Labor Programs

Funding for job training, rural health care, low-income schools and help for people lacking health insurance would face big cuts under a bill passed Friday by the House

Family Values . . . Means pedophile priests never have to say they're sorry.

House Speaker Jim Husted, thinks it's okay to abuse kids -- as long as it's committed by God-fearing pedophiles. He's doing his best to give pervert priests a Get Out of Jail Free card.

FBI Turned Loose

The FBI will write its own subpoenas using general search warrants (writs of assistance) to go into homes and offices at will to look for contraband.

UConn Offers Homeland Security Degree

A new program at the University of Connecticut will offer a master's degree in homeland security.

Taiwan Reimposes Ban on U.S. Beef Imports

Taiwan on Saturday reimposed a ban on imports of American beef after the United States confirmed its second case of mad cow disease.

Second case of mad cow in U.S. confirmed

Eye Witness Testimony Is Conclusive That North Tower Collapsed From Controlled Demolition

WTC janitor pulls burn victim to safety after basement explosion rocks north tower seconds before jetliner hit top floors. Also, two other men trapped and drowning in a basement elevator shaft, were also pulled to safety from underground explosion..

JUST ANOTHER ANOMALY – MOVE ALONG – NOTHING TO SEE HERE

Former Asst. Sec. Of Treasury Under Reagan Doubts Official 9/11 Story

Claims Neo Con Agenda Is As 'Insane As Hitler And Nazi Party When They Invaded Russia In Dead Of Winter' - Paul Craig Roberts, former Assistant Secretary of the Treasury under President Reagan, stepped back into the political spotlight this week, expressing doubt about the official 9/11 story and claiming "if they lied to us about Ruby Ridge, Waco and weapons of mass destruction in Iraq, why should we believe them now."

Karl Rove's "Understanding of 9/11"

Eminent domain: A big-box bonanza? CNN

Court's ruling OKed land grab for business like Target, Home Depot, CostCo, Bed Bath & Beyond

WIKIPEDIA: In law, eminent domain is the power of the state to appropriate private property for its own use without the owner's consent.

The Day America Died
The Supreme Court yanked this ailing nation off life support Thursday by proving, as Attorney General Alberto Gonzales has said, the "Constitution is an outdated document."…The last hope for America died when the court sided with land speculators and fatcats who already control all the other branches of local, state and federal governments with their checkbooks and political action committees.-Capitol Hill Blue

RECALL: Supreme Court Rules Cities May Seize Homes may seize people's homes and businesses against their will for private development

THAT’S OK .. IT COULD NEVER HAPPEN HERE

Former IRS CID Special Agent Joseph Banister Acquitted of Tax Fraud And Conspiracy

During the trial, Banister's former supervisor at IRS’s San Jose CID office, Robert Gorini (who testified via video recording) when pointedly asked, was unable to cite any U.S. law that required Banister to pay income taxes. - Government Unable To Prove Law Requires Income Tax Withholding or Filing.

FLASHBACK: IRS Loses Tax Case Against FedEx Pilot

During her testimony Kuglin testified that since 1995, she had sent numerous letters to the IRS requesting that they inform her of what law required her to pay the Individual Income Tax. To this day, she has not received an answer.

THE AGONY, THE ECSTASY, THE AGONY
As most Americans who get real news from the Internet by now know that Joseph Banister was acquitted by a jury in Federal District Court on June 23, 2005.The complete unsealed indictment can be read here.It is strongly recommended that you read this document to fully understand the seriousness of a federal indictment.Part I of three Parts -Devvy Kidd/NewsWithViews

THE AGONY, THE ECSTASY, THE AGONY - PART 2
For Judge William Schubb, the federal prosecutors and treasury agents - I have nothing but contempt for these people who will do anything for their cushy, safe paychecks.These people aren't that stupid and they can read.You can't tell me they don't smell something fishy, but they have neither the guts nor the courage to say this is a lie and walk away.Continuing with the story of Joe Banister -Devvy Kidd/NewsWithViews

What is Taxed - Income Tax Questions and Research

“ISRAEL”

- Chief Executive of the Board of British Deputies of British Jews

“That Israel alone should be singled out for such treatment,

particularly at a time when dialogue is beginning to prevail,

shows an inequality in the treatment of the Jewish state which must raise concerns about the Church’s relationship with our community.

Once again, the outrageous falsehoods levelled against Israel

are used by the enemies of peaceful co-existence to undermine the genuine goodwill

of those who want to see an end to conflict in the region.”

Divestiture of Funds that Support Israeli Occupation of Palestinian Territories

The New England Annual Conference of the United Methodist Church on June 11 passed a resolution calling for voluntary selective divestment

Anglican group pressures firms backing Israeli occupation

A leading body for Anglican Christians urged churches on Friday to put pressure on firms that support Israel's occupation of the Palestinian territories.

Jewish Anger as Church Votes on Israel

Israeli killed in drive-by attack

Palestinian militants have killed an Israeli in a drive-by shooting outside the West Bank city of Hebron, Israeli army and rescue service officials say.

KILLING INNOCENTS IS ALWAYS WRONG

Israel Air Force Uses Advanced US Bomb in Gaza Strip

BACKGROUND: Joint Direct Attack Munition (JDAM) GBU-31 - Smart Weapons

KILLING INNOCENTS IS ALWAYS WRONG

Xymophora: Israeli worries about AIPAC

This bizarre article in Haaretz demonstrates that Israel is much more concerned about the AIPAC espionage investigation than it would like to let on, and accuses the FBI of anti-Semitism. Finally, in the last sentence, the article makes a clear threat to the FBI .. “The affair is far from the climax and it will certainly draw a great deal of attention, one reason being the future publication of books on this subject”

Giving Chutzpah New Meaning

When somebody wants to publish a book that says you're completely wrong and you're Alan Dershowitz, the prominent Harvard law professor, and the book is Norman Finkelstein's Beyond Chutzpah: On the Misuse of Anti-Semitism and the Abuse of History, you write the governor of California and suggest that he intervene with the publisher--because the publisher is the University of California Press, which conceivably might be subject to the power of the governor.

They look at the burns and are silent HA’ARETZ

Israeli media reported on a young woman from the Jabaliya refugee camp who was seized on Monday at the Erez checkpoint carrying 10 kilograms of explosives on her body, which she had intended to detonate in a hospital.

And indeed, the immoral intention of murdering the sick, the cynical exploitation of an exit permit granted for medical purposes, the stupidity of transferring explosives at a checkpoint where even a needle sets off an alarm, a switch that didn't work - all these make one think of a staged incident intended to denigrate or embarrass the Palestinians.

The newspapers did not send reporters to the young woman's home and did not attempt to obtain any details beyond what was reported by the news agencies and the Israel Defense Forces spokesman.

ANOTHER STAGED “TERRORIST ATTEMPT”

Hamas history tied to Israel JUNE/02

By Richard Sale - UPI Terrorism Correspondent

“MIDDLE EAST”

Rice wins G-8 support to isolate Syria

The G-8 issued a statement at the end of the meeting calling on "Lebanon's neighbors, in particular Syria, to cooperate in ensuring full compliance with (a UN resolution) and to contribute actively to regional security and stability,”

France joins U.S. on Syria demands

US caused more deaths in Iraq than Saddam, says anti-war tribunal

The World Tribunal on Iraq (WTI), a grouping of NGOs, intellectuals and writers opposed to the war in Iraq, on Friday accused the United States of causing more deaths in Iraq than ousted president Saddam Hussein. "With two wars and 13 years of criminal sanctions, the United States have been responsible for more deaths in Iraq than Saddam Hussein,"

Child Abuse CHRIS FLOYD

So when leading international agencies -- including the World Bank, now headed by one of the chief liars, Paul Wolfowitz -- find that Iraq's children are dwindling and dying twice as fast under the coalition's benevolent care than under the despotism of Saddam Hussein, we should not conclude that this was the liars' conscious intention. The torment of children was simply outside the parameters of their "metrics of success."

Iraqi oil workers lament lack of jobs

"We believe American forces must withdraw immediately," Al Asade said outside the Port's Terminal 6. "We want to rebuild our country as Iraqis."

$2.4 billion in $100 bills sent to Baghdad

It weighed 28 tons and took up as much room as 74 washing machines. the $2,401,600,000 was safely delivered to Baghdad on June 22, 2004. It was the largest one-time cash transfer in the history of the New York Fed.

I’M SURE THIS WILL FIND “GOOD HOMES”

Iraqi PM opposes setting troop withdrawal date

America turns on Bush over Iraq

Three in five want troops out as President vows to stay

Has FOX decided to abandon Bush?

Bush: U.S. will never set timetable for withdrawal from Iraq

US Pressures Foreign Countries To Censor Iraq News

So the American government is pressuring foreign countries to censor their news. Aside from the fact that this act is the height of arrogance by the United States, it makes it exceedingly clear why so many Americans who rely on the corporate media for their news continue to be so misinformed/un-informed about the goings on in Iraq.

Top Egyptian Religious Leader Backs Iraq Resistance To US Occupation

Egypt stops opposition leader from trip abroad

“FOREIGN AFFAIRS”

EU gives green signal to Iran-India gas pipeline

Italy judge orders CIA-linked arrests over kidnap

An Italian judge has ordered the arrest of 13 foreigners tied to the CIA for allegedly kidnapping an Egyptian terrorism suspect in Milan two years ago and flying him to Egypt for questioning, judicial sources said on Friday.

Poll: In wake of Iraq war, allies prefer China to U.S.

The United States' image is so tattered overseas two years after the Iraq invasion that communist China is viewed more favorably than the U.S. in many long-time Western European allies, an international poll has found.

Canadian opinion of U.S. dropping, poll suggests

About 66 per cent of Canadians have a favourable opinion of Americans, down from 78 per cent in 2002,

Russia to build a new railroad from China to Europe

U.N. failed in Milosevic genocide case, experts say

When U.N. prosecutors opened their case against Slobodan Milosevic two years ago, they set out to get him convicted of genocide. The consensus today is, they failed.

Powers swirl around Uzbekistan
As the biggest prize in the great game, China, Russia, the European Union and the US all have interests and deep involvement in Uzbekistan -Dr Michael A Weinstein/Asia times

N. Korean Leader Sent Letter to Bush in 2002

North Korean leader Kim Jong-il sent a letter to U.S. President George W. Bush in late 2002 urging him to make a ``bold decision’’ to avert the then-emerging nuclear standoff, but Washington ignored the gesture, a North Korea expert has revealed.

Gwynne Dyer: US in dangerous game over India

The Bush Administration is trying to woo New Delhi into a close military and strategic relationship.

Bush administration’s drive against Venezuela backfiring

Venezuela Closes General Motors, Mazda and Renault Plants Over Unpaid Taxes

Venezuela cuts off oil supply to Dominican Republic, threatens Paraguay

Ecuador: Colombia drug plan has gone bad

Ecuador's interior minister criticized Colombia's U.S.-sponsored drug eradication program saying it bred violence and corruption.

Mexico: the false narco-smear against the Zapatistas

Mexico's Zapatistas vow no return to attacks

Tsunami aid 'went to the richest'

Six months after the Asian tsunami, a leading international charity says the poorest victims have benefited the least from the massive relief effort. A survey by Oxfam found that aid had tended to go to businesses and landowners, exacerbating the divide between rich and poor.

“MILITARY / INTELLIGENCE / SECURITY”

US Military 'Help' for Indonesia Questioned

A prominent human rights group is continuing to demand that US military assistance to Indonesia be restricted until there is greater reform within the Indonesian military and until there is accountability for gross violations of human rights in East Timor and Indonesia

Japanese nuclear data leaked on Net after virus attack

China Nuke Missile Launch Is Major Technological Leap

The missile is believed to be able to carry a nuclear warhead for 6,000 miles, far greater than any sub-launched missile in China's inventory.

Taiwan to get U.S. early warning radar

The U.S. Defense Department said on Thursday it would supply Taiwan with key elements of a missile and air defense capability, a move aimed at defusing the threat from China. Raytheon Co. won a U.S. Air Force contract worth up to $752 million to supply the Early

Black Market in Stolen Credit Card Data Thrives on Internet - New York Times.

Don't know that a "cob" is? Hopefully it isn't yours that on sale online. Yesterday's New York Times had a very thorough and chilling look at the undergound market in stolen credit card information:

Details of Britons’ bank accounts sold

Police revealed that they were investigating claims some IT workers in India were offering confidential information for £3 per account.

RECALL: US Offshoring Of Personal Data Grows

CardSystem Solutions--a global scam serving the global scam industry

“ECONOMICS”

The global housing boom - In come the waves THE ECONOMIST

NEVER before have real house prices risen so fast, for so long, in so many countries. Property markets have been frothing from America, Britain and Australia to France, Spain and China.

It looks like the biggest bubble in history. Over the past five years the total value of residential property rose by more than $30 trillion, to over $70 trillion, an increase equivalent to 100% of those countries' combined GDPs. It is larger than the global stockmarket bubble in the late 1990s (80% of GDP) or America's stockmarket bubble in the late 1920s (55% of GDP). In California, Florida, Nevada. Hawaii, Maryland and Washington, DC, they soared by more than 20% in the last quarter. In Europe, prices over the past year have also spurted at rates of 9% or more in France, Italy, Belgium, Denmark and Sweden. Both France (15%) and Spain (15.5%) have faster house-price inflation than the United States.

Since 1997, home prices in most countries have risen by much more in real than during any previous boom terms (ie, after adjusting for inflation). This is still by far the biggest boom in American history, with real gains more than three times bigger than in previous housing booms in the 1970s or the 1980s.

Prices inflation is slowing down. In Australia, according to official figures, the 12-month rate of increase in house prices slowed sharply to only 0.4% in the first quarter of this year, down from almost 20% in late 2003. An index based on prices when contracts are agreed rather than at settlement, shows that average house prices have actually fallen by 7% since 2003; prices in once-hot Sydney have plunged by 16%. Britain's housing market has also cooled rapidly, the Royal Institution of Chartered Surveyors (RICS) reports that prices have fallen for ten consecutive months, with a net balance of 49% of surveyors reporting falling prices in May. The volume of sales has slumped by one-third. In Ireland, the Netherlands and New Zealand house-price inflation has also slowed significantly over the past year.

The diverging relationship between house prices and rents is the most compelling evidence, a sort of price/earnings ratio for the housing market, even more over-valued than at previous peaks. Prices have hit record levels in relation to rents in America, Britain, Australia, New Zealand, France, Spain, the Netherlands, Ireland and Belgium. This suggests that homes are, from which prices typically fell in real terms.

House prices are also at record levels in relation to incomes in these nine countries.

America's ratio is 35% above its average level during 1975-2000 (see chart 1). By the same gauge, property is “overvalued” by 50% or more in Britain, Australia and Spain. Rental yields have fallen to well below current mortgage rates. After many previous booms most ratio adjustments came through inflation pushing up rents and incomes, while home prices stayed broadly flat. But today, with inflation much lower it seems more likely, then, that prices will fall.

A common objection to this analysis is that low interest rates make buying a home cheaper and so justify higher prices in relation to rents. But this argument is incorrectly based on nominal, not real, interest rates and so ignores the impact of inflation in eroding the real burden of mortgage debt. If real interest rates are permanently lower, this could indeed justify higher prices in relation to rents or income.

Prices are being driven by speculation, and even the Federal Reserve is at last starting to fret. Investors buy houses and rent out at a loss, because prices keep rising—the definition of a financial bubble. 23% of all American houses bought in 2004 were for investment, another 13% were bought as second homes. “Flippers” buy and sell new properties, with many properties changing hands two or three times before somebody moves in.

New, riskier forms of mortgage finance also allow buyers to borrow more. 42% of all first-time buyers and 25% of all buyers made no down-payment, some getting 105% loans to cover buying costs. Little documentation of a borrower's assets and income is required. Interest-only mortgages are all the rage, along with so-called “negative amortisation loans” (the buyer pays less than the interest due and the unpaid principal and interest is added on to the loan). In California, over 60% of all new mortgages this year are interest-only or negative-amortisation, up from 8% in 2002. The national figure is one-third. Such loans are usually adjustable-rate mortgages (50% of mortgages in some states), which leave the borrower additionally exposed to higher interest rates.

Most think that house prices will flatten rather than collapse, and house prices tend to be somewhat “sticky” downwards. As long as people can afford their mortgage payments, they will stay put until conditions improve. Owners who have to sell will be forced to accept lower prices. Indeed, a drop in nominal prices is today more likely than after previous booms for three reasons: homes are more overvalued; inflation is much lower; and many more people have been buying houses as an investment. Over-exposed investors are likely to sell, especially if rents do not cover their interest payments. House prices will likely collapse like a slow puncture, and over the next five years, several countries are likely to experience price falls of 20% or more.

Lessons cooled markets can offer (ex. Britain, Australia and the Netherlands): Firstly, house price decline does not require a trigger (ex. rise in interest rates or unemployment) - prices have stalled mainly because first-time buyers are priced out of the market and demand from rental investors has slumped. Secondly, it is wrong that prices must rise because there is a limited supply of land and a growing number of households is. Economists point out that residential investment is at a 40-year high in America, yet the number of households is growing at its slowest pace for 40 years, and so has created excess supply. Thirdly, many countries have experienced a drop in average house prices, although in the US, national average house prices have never fallen for a full year since modern statistics began.

Some think that even if prices drop, they will quickly resume their rising trend, because real house prices always rise strongly in the long term. But Robert Shiller (Yale economist), estimates that US house prices rose by an annual average of only 0.4% in real terms between 1890 and 2004. And if the booms are stripped out of the figures, real house prices have been flat or falling most of the time. After British house prices fell in the early 1990s, it took at least a decade before they returned to their previous peak, after adjusting for inflation. Japanese property prices have dropped for 14 years in a row, by 40% from their peak in 1991. With prices looking overvalued in more states than ever in the past, average American prices may well fall for the first time since the Great Depression.

Even a mere levelling-off of house prices can trigger a sharp slowdown in consumer spending, although Alan Greenspan denies this. Goldman Sachs estimates that total housing-equity withdrawal rose to 7.4% of personal disposable income in 2004. If prices stop rising, this “income” from capital gains will vanish. But, the late 1990s, the Dutch had both house prices and household credit rising at double-digit rates. Then from 2000 – 2003, their house-price inflation slowed from 20% to nearly zero by with no drop in house prices (a perfect “soft-landing”). When prices levelled off, the removal of this equity spending pushed the economy into recession, from which it has still not recovered. The same has happened in Britain and Australia, denting household spending.

American consumer spending will drop because homeowners have been cashing out their capital gains at a record pace. Over the past four years, consumer spending and residential construction have together accounted for 90% of the total growth in GDP. And over two-fifths of all private-sector jobs created since 2001 have been in housing-related sectors, such as construction, real estate and mortgage broking.

One of the best international studies of how house-price busts can hurt economies has been done by the International Monetary Fund. Analysing house prices in 14 countries during 1970-2001, all but one of those housing busts led to a recession, with GDP after three years falling to an average of 8% below its previous growth trend. And it is surely no coincidence that Japan and Germany, the two countries where house prices have fallen for most of the past decade, have had the weakest growth in consumer spending of all developed economies over that period.

WRH COMMENTS: Let's see. New bankruptcy laws close the door on bankruptcy. Housing prices inflated and low interest rates encourage people to max out the inflated equity. Bubble bursts and people are trapped in homes worth far less than they owe and cannot sell. Minimum payments driven upwards while wages continue to decline. Banks move in, foreclose, and grab up what is left of private property in the US. - - - Any questions?

WRH: Double Whammy

Housing bubble trouble - Mass. home SALES plunge 11.1 percent

single-family homes sold last month, are down 11.1 percent compared to the same period last year. Prices of both homes and condominiums continued to rise last month - by 6.2 percent for single-family dwellings and 4.7 percent for condos.

Backstreet's Back (Time to Sell)
Though the ensuing real estate collapse may not be as epic in percentage terms as the NASDAQ, in places such as California and the East Coast we think a 20 or 30% decline could happen almost overnight, which given the leverage used by most homeowners could spell disaster for the rest of our economy.- Todd Stein & Steven McIntyre/Texas Hedge Report

Muslim Nations Plan to Set Up Islamic Bank
Muslim bankers and regulators announced plans Wednesday to set up a global Islamic bank by next year that could rival Western lenders and to chart a 10-year blueprint to bolster growth in the Islamic financial sector.

IBM shifts 14,000 jobs to India

Cisco may move outsourced manufacturing to China

E-commerce now a turn-off

Are you being overcharged for overseas purchases?

Your credit card company is making a killing off the money you spend on your foreign vacation, and you might not even know it. This extra profit is called a "foreign currency-conversion fee," and you could be paying up to 3-percent extra when you make an overseas purchase with a credit card.

Foreign investment drops sharply in France and Germany

In France, inward investment almost halved last year, falling from $43bn to $24 bn. In Germany, foreign investors actually withdrew about $39bn from the country, reversing the inflow of $27bn recorded in 2003. Foreign direct inflows into the UK more than tripled, coming up to $78.5bn in 2004, according to the report.

Major New Report - 'Peak' Oil Not Coming Soon

Cambridge Energy Research Associates said that, instead of a crest being reached sometime this decade, an inflection point in world oil output will occur sometime beyond 2020, after which production will plateau for several more decades.

OPEC 'Unable' To Lower Oil Prices

Leading OPEC producer Saudi Arabia on Tuesday underlined the cartel's inability to ease fuel costs, saying oil supplies would not rise despite plans to increase official output limits.

Prospect of crude at $65 a barrel looms large
crude oil futures touched $60 again yesterday as growth in global demand continued to outpace supply, adding to concerns about a supply squeeze from well-head to pump.Oil traders said the next stop could be $65 a barrel, and a fall back below $50 looked increasingly unlikely before the year-end -Financial Times UK

The coming trade war and global depression PART 1
Trade protectionism is re-emerging, but the irony is that it is being driven not by the poor economies that have been hurt the most by the globalized neo-liberal trade regime, but by the wealthy economies, especially the US. - By Henry C K Liu

Dollar hegemony against sovereign credit PART 2
Twentieth-century history showed that economic fundamentalism can have devastating results. Early in that century, rigid adherence to the gold standard was exacerbated by sterling hegemony, ultimately leading to the Great Depression and World War II. Now a new bunch of fundamentalists are in charge.
By Henry C K Liu

LIU IS ALWAYS GOOD

“CANADA”

Canada To Restrict Internet Pharmacies

Tiny tags on goods could track shoppers

Concerns about potential abuse of personal information have led Canada's privacy watchdog to launch a study of tiny tracking tags turning up in everything from clothing to key chains.

Insurance access trumps privacy: court

Supreme Court of Newfoundland - Justice Robert Hall ruled there are occasions when an insurance company's access to records should be limited. However, Hall ruled that O'Dea's privacy must give way to the right of the company to access all potentially relevant information.

Lucky Country?

Gambling in Canada is a $13-billion industry with profits similar to fuel, liquor taxes Government-run gambling has become an almost $13-billion industry in Canada, with about 87,000 gambling machines, 60 permanent casinos and 33,000 lottery ticket centres pumping money into provincial coffers, according to a new study. (PTC)

MORE: Alberta boasts biggest players, biggest losers

Canada's Position FROM: In Denial of Crisis: Part III
Trade Asymmetry: Canada is fully economically dependent upon the U.S.

With the implementation of the Canada - US Free Trade Agreement in 1989, Canada has now built an almost total dependency on the US export market to fuel Canada's economy. Exports to the U.S. constitutes 25% of Canada's economic activity (GDP) and represent 88% of Canada's total exports. In comparison, U.S. exports to Canada constitute 1.5 % of U.S. GDP.
Combined US/Canada trade (imports + exports) constitutes 43% of Canada's economy and 3.8% of the U.S. economy.
If any economic dislocation were to occur in the U.S., this type of economic asymmetry results in Canada being in a poor negotiating position for access to even diminished U.S. markets. Ontario, in particular, is vulnerable to economic disruption because of its manufacturing base dependence upon the U.S.

Canada's Banks do not have robust balance sheets

The following are extracted items from the Consolidated Balance Sheets of all Canadian Banks⁶¹ as of March 31, 2005.

• Assets: Bank Reserves

• Cash: $ 4.7 Billion

• Gold: $ 3.6 Billion

• Government Bonds $ 216.0 Billion

• Deposits with other institutions $ 88.5 Billion

$ 312.8 Billion : Total

• Assets: Outstanding Loans to customers:

• Loans $1,030. Billion

• Liabilities:

• Customer Bank Account Balances $1,271. Billion

• These balance sheet elements indicate that Canadian Banks' assets are fully deployed in order to generate profit. Very little tolerance for economic shock is built into the banks' balance sheets if there were to be a sudden liquidity demand or if a larger portion of outstanding loans became non-performing.

Constitutional Weakness:

Canada's Charter of Rights and Freedoms affords no property rights to its citizens (governments in Canada can expropriate private property without compensation) and individual rights to freedom of conscience, religion, expression, life liberty and security of the person etc. as in the Charter can be overridden using S. 33 Override provisions for repeated 5 year intervals by Federal or Provincial Governments provided that such government vote on the denial of rights every 5 years. During times of crisis, governments typically argue additional centralized power is needed - with our current Charter, such intervention and suspension of individual rights is possible without approval of citizens.

Canada's Gold:

In 1985, Canada had 20 million oz. of gold in its treasury. Strong gold sales from 1985 until 1993 resulted in disposal of 14 million oz. Gold sales continued from 1994 until 2003 at which point Canada retained 100,000 oz.⁶²

New World Order: Corruption in Canada

Prof. Robert O’Driscoll & Elizabeth Elliot

The first book of it's kind in Canada. This book reveals the figures in the political carpet at home, diagnosing the disease that now infects the core of Canadian life; In Parliament, the civil service, the banking system, medical and social services, the christian churches, the military ‘national security’ intelligence (CSE and CSIS), academia, and the astonishing penetration of central Canada by the Church of Satan.

What we have come to realize, German - Canadian Rolf Rentmeister writes, is that somebody or some group has been hard at work to create a different version of Canada from the country our ancestors created and in which their families chose to live.

This book reveals the individuals and the groups who have been active in this respect - including Maurice Strong, CSIS, John Polanyi, David Suzuki, Lester Pearson, the Canadian Institute of International Affairs, Conrad Black, Brian Mulroney, Bob Rae, Mel Hurtig, Paul Desmarais, Pierre Trudeau, and many others.

This is, according to the brilliant analysis of Mr. Kealey (based on ‘inside’ information), the first step of a plan devised by George Bush, Ronald Reagan, and the leading industrialists of the United States in 1982, and which was implemented in Canada by Mr. Brian Mulroney.

The second step is to get Quebec to separate.

The third to integrate the rest of Canada into the U.S.

The fourth to get the natives in Northern Canada to revolt.

The fifth to send in the military from Fort Drum with blue berets.

And the sixth step? To build the Grand Canal by which the waterways of Canada will be reversed, maintaining the ‘breadbasket’ in the U.S. while Canada turns into a frozen shield.

The resolution will not be found by turning the Canadian people against the American people or vice-versa but by incensing both peoples against the invisible rulers of both countries.

When he started this book in Oct.1993, Professor O’Driscoll was "under investigation" by the University for having published the first two volumes of the trilogy in 1993. By the time he completed this book in Oct.1994, he had been barred from his office, his files, his books, the library and had even been suspended from the University. 3rd in the “New World Order Exposed" Trilogy.

“SOCIETY”

Priest among 96 Child Pornography Suspects in Austria

An investigation subsequently revealed about 40,000 photos and numerous videos, including child pornography, on computers at the seminary in the diocese of St. Poelten. Other photographs of seminary students kissing and fondling each other and their older religious instructors also were found.

The Militarization of the Police
Militarizing the police, and the attendant dehumanization and demonization of the public, and "there ought to be a law," is not the path to a better society. It is the path to the public being the enemy, including those who say, "there ought to be a law" (and how shocked they will be when it comes their turn to be brutalized!). It is, ultimately, the path to tyranny.-Bob Wallace/LewRockwell.com

Robot guards to patrol Tokyo shops, offices

Do games prime brain for violence?

There is now strong evidence that people who play violent games tend to be more aggressive.

The young & the sexless ROLLING STONE

A new generation of young men and women is embracing celibate life

The world in the palm of their hands: Bilderberg 2005, Part I

The world in the palm of their hands: Bilderberg 2005, Part II

“HEALTH / SCIENCE / TECH”

Monsanto research raises concerns about corn CTV

Monsanto research shows that rats fed GM corn had problems in their livers and kidneys, organs that remove toxins from the blood. European Food Safety Authority found a higher incidence of kidney inflammation in the test animals but decided these were "spontaneous" and not related to their diet. Health Canada says there is nothing in the Monsanto data to change its opinion that the GM corn is safe.

EU Governments Maintain GM Crop Bans

Folic acid may keep brain younger

Half received 800 micrograms of folic acid, twice the recommended daily dose in the United States, while the other half was given sugar pills. Researchers found those who had taken the folic acid supplements scored as well on memory tests as individuals five years younger.

Male sweat sells men's lifestyle magazine

AND FEMALE IMAGERY INCREASES SALES OF PRODUCTS TO WOMEN

Sunspot Penumbra Shock Astrophysicists

The old idea that the penumbra filaments are "convection currents" must now give way to new evidence that electric currents dominate these solar structures.

Lighter filling in earth's core

“The prevailing consensus is that the outer core is a molten cauldron mostly of iron with some light elements and the inner core is made of solid iron with a little bit of light elements. We’ve made these estimates by reading seismic waves as they travel through the interior and through experimentation and theory,”

As depth increases inside the Earth, so does the pressure (21Mpsi – 54Mpsi) and heat (8-10,000 F). The researchers compared their results with seismic-wave measurements of the Earth’s interior and determined that there are more light elements contained in the iron there than previously inferred from linear extrapolation at room temperature.

CURIOUS RESULT SINCE THE EARTH HAS A DENSITY GRADIENT WITH THE LIGHTER MATERIALS ON TOP (AIR) AND DENSER MATERIALS IN THE CENTER (WATER THEN ROCK)

“INFECTIOUS - DISEASES”

FINALLY SOME GOOD NEWS … THIS FLU SEEMS TO BE MUCH LESS DANGEROUS THAN I PREVIOUSLY BELIEVED. THE POOR MONITORING OF THE POPULATION BY THE W.H.O. IS (SIMPLY PUT) CRIMINAL. BUT THERE ARE A NUMBER OF REPORTS OF REGIONS WHERE PEOPLE ARE TESTING POSITIVE WITHOUT SHOWING SIGNS OF THE DISEASE.

THIS MAY BE DUE TO DIFFERENT VARIETIES OF THE DISEASE, OR DIFFERENT GENETICS IN THE DIFFERENT POPULATIONS (RECALL THAT IT WAS REPORTED THAT INDO-PAKISTANIS DID NOT SUFFER SARS). EITHER WAY, THIS MAKES THE WEEKEND BRIGHTER - DOUG

Does the WHO Really Want to Find and Stop Bird Flu Cases?

Researchers, working at Hanoi's National Institute for Hygiene and Epidemiology, tested hundreds of stored blood samples looking for antibodies to bird flu to see if there have been more infections in the region than had been previously thought. A source familiar with the research said scores of samples came back positive. Dick Thompson, director of communications for the WHO's communicable diseases branch in Geneva, said "These are highly questionable results."

After the samples were tested in northern Vietnam an urgent meeting was called and the samples were said to have been shipped to CDC in Atlanta. Shortly thereafter another urgent meeting was called and held on May 6-7 in Manila. Although alarms were sounded, the results from the serum samples were not released. Instead, it sounds like another test was required, and when it also showed a high number of positives, the test was designated "research" and the data has still not been released.

So now there are hundreds of positive tests in patients in Vietnam, but more tests are required, and unfortunately Vietnam lacks the testing facilities.

OBVIOUSLY MANY PEOPLE HAVE BIRD FLU BUT SHOW NO SYMPTOMS

RECALL: Antibodies in Poultry Workers in India

ANSWER TO THE QUESTION ABOVE: NO

Asymptomatic H5N1 Ducks in Central Highlands in Vietnam
One-fifth of total waterfowl flocks in Vietnam's central Quang Tri province have just been found to contract bird flu. - - - The above infections appear to be in asymptomatic ducks. A survey of ducks in the 11 Mekong Delta provinces earlier this season indicated that 71% of the ducks were positive.

Flu pandemic could kill half million in U.S.-report

“ENVIRONMENT / EARTH”

Salmon, Trout And Carp 'Under Threat From Parasite' EUROPE

“WEATHER”

Prepare for tornadoes, UK told

WEATHER forecasters issued Britain's first official tornado warning yesterday as this week's heatwave disappears in a barrage of hailstones the size of golf balls, torrential rain and flooding.

Research shows Persistent El Nino-Like Conditions During Past Global Warming

During the most recent period in Earth's past with a climate warmer than today, the tropical Pacific was in a stable state of El Nino-like conditions,

Part of the Ministry of Doug Bracewell