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Monday,28.Jan.2012

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In Case You Still Don't Get It, Here's Why A Greek Default Should Put Fear In Your Heart

NEW YORK (AP) — Remember Greece? It's been two years since a financial crisis erupted in the birthplace of drama, and the final act is still unfinished. A second week of talks in Athens ended Friday with no deal between the country, the European Union and private holders of Greek bonds. Remarkably, even after the crisis became such an international worry last year that the leaders of France and Germany were actually referred to as "Merkozy," the European debt bomb could still explode, with Greece as the fuse. Economists and investors see a Greek default as the biggest test of the world financial system since the crisis that followed the collapse of Lehman Brothers investment house in 2008. It is also the biggest threat to what has been a successful start to the year in the U.S. stock market. The Standard & Poor's...

We’re on the brink, warns Greece ahead of summit

Lucas Papademos said that unless the country’s international backers agreed to a new bail-out, Greece would be unable to pay off its loans and be forced out of the eurozone. EU leaders will meet in Brussels tonight amid growing concern that Greece will fail to implement the austerity measures its international backers are demanding as a condition of the latest package of financial support. Without that bail-out, Greece will be unable to repay €15billion of loans due in March. Amid doubts about Greek willingness to cut spending and raise...

IMF pushes Greece over budget

Greece on brink of debt deal with private creditors

Officials say talks between Greece and private creditors on halving the country's privately held debt load have ended and a deal is very close. After three hours of talks with Prime Minister Lucas Papademos and Finance Minister Evangelos Venizelos on Saturday, creditor representatives Charles Dallara and Jean Lemierre issued a statement saying the two sides were “close to the finalization of a voluntary (private sector involvement) ... We expect to conclude next week as discussions on other issues move forward.” The statement also...

Why Are the Chinese Buying Record Quantities of Gold?

This month, the Hong Kong Census and Statistics Department reported that China imported 102,779 kilograms of gold from Hong Kong in November, an increase from October’s 86,299 kilograms. Beijing does not release gold trade figures, so for this and other reasons the Hong Kong numbers are considered the best indication of China’s gold imports. Analysts believe China bought as much as 490 tons of gold in 2011, double the estimated 245 tons in 2010. “The thing that’s caught people’s minds is the massive increase in Chinese buying,..

Critics of capitalism call global protest in June

AFP - Thousands of critics of capitalism meeting in Brazil called Sunday for a worldwide protest in June to press for concrete steps to tackle the global economic crisis. The World Social Forum wrapped up a five-day meeting in this southern Brazilian city, urging citizens to "take to the streets on June 5" for the global action, which would be in support of social and environmental justice. The forum also announced a "peoples' summit" of social movements to be held in parallel with the high-level UN conference on sustainable development...

Pundits fear 'perfect storm' despite official optimism

AFP - Despite attempts by political and business leaders to suggest the eurozone has turned a corner, the prevailing view of pundits is things can only get worse and a "perfect storm" is brewing. The five-day Davos forum which ended Sunday, was dominated by the sovereign debt crisis in the single currency zone and was held against a backdrop of frantic negotiations on a write-down deal between Greece and its creditors. Some of the players most closely involved with the crisis since the 2008 financial meltdown insisted there was now light at end...

Iran warns of $150 oil as nuclear inspections begin

UN nuclear inspectors began a critical mission to Iran on Sunday to probe allegations of a secret atomic weapons program amid escalating Western economic pressures and warnings about safeguarding Gulf oil shipments from possible Iranian blockades. The findings from the three-day visit could greatly influence the direction and urgency of U.S.-led efforts to rein in Iran’s ability to enrich uranium – which Washington and allies fear could eventually produce weapons-grade material. Iran has declined to abandon its enrichment labs, but claims...

Iran says it may halt oil sales to 'some countries'

The dispute between Iran and the Western economies has escalated after Tehran warned it will stop oil sales to "some countries." Rostam Qasemi, Iran's oil minister, said the curbs will be implemented soon but did not mention specific countries. The warning comes just days after the European Union (EU) agreed to stop importing Iranian oil from 1 July. The US and EU have been trying to target Iran's oil exports as part of sanctions against it. "Soon we will cut exporting oil to some countries," Mr Qasemi was quoted as saying by the state news agency IRNA.

Navy wants commando ‘mothership’ in Middle East

The Pentagon is rushing to send a large floating base for commando teams to the Middle East as tensions rise with Iran, al-Qaeda in Yemen and Somali pirates, among other threats. In response to requests from U.S. Central Command, which oversees military operations in the Middle East, the Navy is converting an aging warship it had planned to decommission into a makeshift staging base for the commandos. Unofficially dubbed a “mothership,” the floating base could accommodate smaller high-speed boats and helicopters commonly used by...

US foresees May as tentative date for clash with Iran. Floating SEALs base for Gulf

A hurried decision not to de-commission the USS Ponce helicopter marine carrier after duty in Libya - but to refit it for deployment by May in the Persian Gulf as a floating base for commando teams - was confirmed by the US Pentagon and Navy Sunday, Dec. 29. This transportable floating base will expand the commandos' range in coastal areas and support counter-measure against mines which Iran has threatened to plant in the Strait of Hormuz in reprisal for the US-EU oil embargo. The SEALs will also take on Iran's menacing fleet of military speedboats...

Forget global warming - it's Cycle 25 we need to worry about (and if NASA scientists are right the Thames will be freezing over again)

The supposed ‘consensus’ on man-made global warming is facing an inconvenient challenge after the release of new temperature data showing the planet has not warmed for the past 15 years. The figures suggest that we could even be heading for a mini ice age to rival the 70-year temperature drop that saw frost fairs held on the Thames in the 17th Century. Based on readings from more than 30,000 measuring stations, the data was issued last week without fanfare by the Met Office and the University of East Anglia Climatic Research Unit...

What are the mysterious blue balls that fell from the sky over Bournemouth?

When a hailstorm began thundering down in Dorset many residents would not have been surprised to find large balls of ice lying around. However, in one man's garden something of a rather more mysterious nature appears to have fallen from the sky. Steve Hornsby, from Bournemouth, was left shocked to discover small blue spheres in his garden. He found about a dozen of the balls - which are 3cm in diameter - following a short and fierce hailstorm on Thursday afternoon. Speaking to the BBC, Mr Hornsby said the sky turned an...

UN Chief Urges Africa to Respect Gay Rights

U.N. Secretary-General Ban Ki-moon has called on African leaders to respect gay rights, and to accept the jurisdiction of the International Criminal Court. On a continent where homosexuality is outlawed in many places, the U.N. chief told Africa's leaders to end discrimination against gays and lesbians. He said laws against homosexuality violate the Universal Declaration of Human Rights. "Let me mention one form of discrimination that has been ignored or even sanctioned by many states for far too long, discrimination based on sexual orientation...

Natural gas sector set up by Obama to be sabotaged?

President Obama spoke of the role natural gas must play in America’s energy future during his State of the Union address last week, but industry insiders fear it’s merely lip service designed to distract from what they consider the administration’s behind-the-scenes plan to sabotage the sector. “They’re trying to make it more difficult for the industry to survive while the president is standing in front of the country saying we’re going to create jobs through hydraulic fracturing,” said Ken von Schaumburg, former deputy counsel at the Environmental Protection...

India's biometric ID number plan divided by bureaucracy

Reporting from New Delhi— India'splan to issue each of its citizens a biometric identity number, an ambitious program aimed at cutting corruption, mismanagement and red tape, may yet founder on the very bureaucracy it was designed to minimize. On Friday, after a battle between two agencies over who would collect and control the fingerprints, retinal scans and other information before issuing the 12-digit numbers,India'sprime minister resolved the issue: Both bureaucracies will collect the information "with suitable provisions to eliminate...

U.S. Defense Department can't account for billions for Iraq, audit finds

(CNN) -- The U.S. Defense Department cannot account for about $2 billion it was given to cover Iraq-related expenses and is not providing Iraq with a complete list of U.S.-funded reconstruction projects, according to two new government audits. The reports come from the office of the Special Inspector General for Iraq Reconstruction. The Iraqi government in 2004 gave the Department of Defense access to about $3 billion to pay bills for certain contracts, and the department can only show what happened to about a third of that, the inspector...

Scientists in Scotland use skin samples to create human brain cells

SIXTEEN years after Dolly the sheep was cloned in Edinburgh, scientists in Scotland have made another startling medical breakthrough. Researchers at Edinburgh's Centre for Regenerative Medicine have created brain tissue from patients suffering mental illnesses such as schizophrenia and depression. "A patient's neurones can tell us a great deal about the psychological conditions that affect them, but you cannot stick a needle in someone's brain and take out its cells," the centre's director, Professor Charles ffrench-Constant, told the...

Resistant Bacteria - Antibiotics Prove Powerless as Super-Germs Spread

Ron Paul: TSA is a “bureaucratic monster” that “undermines our liberties” and “doesn’t make us safe”

Ron Paul is still hoping mad at the Transportation Safety Administration nearly a week after airport screeners clashed with the Texas congressman’s son Rand. Ron Paul, the libertarian-leaning Republican presidential candidate, has renewed his calls for abolishing the TSA following security personnel’s refusal to allow Rand Paul, a Kentucky senator, to board his flight in Nashville unless he agreed to a pat-down search. Rand Paul was escorted away from the screening area by local police. He claims he was detained by TSA personnel, something...

Fears Over Hip Replacement 'Poisoning'

Tens of thousands of British patients with metal hip replacements could be at risk of being poisoned by them, it is feared. Medical regulators are drawing up new advice after taking "prompt action" to investigate safety concerns - but say the majority of people with the implants are "at low risk of developing any serious problems". An investigation by The Sunday Telegraph showed more than 30,000 British patients have had the 'metal-on-metal' hip replacements - a metal ball that fits into a metal cup implanted into the pelvis. Problems...

Scientists admit non-stick cookware and fluorine compounds cause vaccines to fail

Explosive volcano may lurk beneath Death Valley

California's Death Valley, already one of the hottest places on Earth, may have the potential to get a whole lot hotter — and live up to its name in a surprising (and possibly scary) new way, according to new research. Scientists have long known that the craters that pepper this dry landscape were formed by long-ago volcanic eruptions, triggered when hot magma ascending from inside the planet hit pockets of water. Some researchers now think the area erupted far more recently than thought, meaning the parched swath of central California, home to...

Fran Drescher Abducted by Aliens - UFO Claim by Actress

Fran Drescher believes she was abducted by aliens. Is the actress being serious about her UFO claim? She believes it. She claims that long before they were married, both she and her ex-husband Peter Marc Jacobson were abducted by aliens on separate occasions and in separate locations. "You know, it's funny because Peter and I both saw [aliens] before we knew each other, doing the same thing, driving on the road with our dads," Drescher told the Huffington Post recently. "We were both in junior high. A few years later, we met, and...

Aliens and Nazis: Ten Holographic-like UFOs -- Over one state alone

A South Carolina witness reports watching 10 spheres "moving erratically with flashing white lights and a low flying triangle-shaped object, according to January 26, 2012, testimony from the Mutual UFO Network (MUFON) witness reporting database. The reporting witness was first alerted to the objects by a phone call from a friend who lived 20 miles away. "I went outside and to the west I saw about 10 spheres moving erratically with flashing white lights," the witness stated. "These lights moved in all directions including around each other. The night sky...

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