Is History Repeating?

Can Turkey Lead the Islamic World and Still Be a Western Ally?

Erdogan Anadolu Agency via Getty Images

The AKP does not aspire to be a model for the Islamic world; it aspires to be its leader — a duty which includes safeguarding the interests of the nearly 20 million Muslims living in Europe. In Erdoğan’s view, it is the EU which must accommodate itself to Turkey, not vice versa. Erdoğan is saying to the West: If you want my help in the Middle East, then we’ll play by my rules.

All the Jobs in the Shale Oil Patch Are about To Go Down the Drain

The oil boom created by “fracking” is about to go bust because of the low price per barrel of oil. At the current price, it costs too much to get the oil out of the ground. Frackers borrowed too much money to set up their businesses, and needed to sell oil at significantly higher prices to make a profit. According to zerohedge.com, the bankruptcies have just begun:

“There are too many ugly balance sheets,” warns one energy industry analyst, adding simply that “the group is not positioned for this downturn.” While the mainstream media continues to chant the happy-clappy side of lower oil prices, spewing various ‘statistics’ about how the down-side of low oil prices is ‘contained’ and the huge colossal massive tax cut means ‘everything is awesome’ for America, the data – and now actions – do not bear this out. Macro data has done nothing but disappoint and now, we have the first casualty of the shale oil leverage debacle as WSJ reports, on Sunday, a private company that drills in Texas, WBH Energy LP, and its partners, filed for bankruptcy protection, saying a lender refused to advance more money. There are many more to come…

Got Corruption?

Vietnam -Rising Discontent over Corruption

Vietnam-Bankers

The global trend that is brewing against corruption is absolutely everywhere. Vietnam is dealing with rising public anger over corruption that has unfolded in and out of government. Duong Chi Dung (C-front), 56, is the former chairman of Vinalines, and his accomplices stand in the local People’s Court in Hanoi. The top two executives were sentenced to death for embezzlement as authorities try to allay rising public anger over corruption. Where US bankers got bonuses after 2007, the story is very different elsewhere.

Best World History Lesson — War

Canadian Government Develops Digital Currency

Excerpt from jsminset.com:

Canadian Mint ready to test its own digital money project

John Greenwood | 19/09/13 6:00 AM ET

As the government body responsible for the production of loonies, toonies, nickels and sundry “limited-edition” collector coins, the Royal Canadian Mint is hardly the first thing that comes to mind when you think of cutting-edge technology. But that may be about to change.

Sometime before the end of this year, software engineers at the 105-year-old Crown corp. will begin pilot testing a novel form of digital currency that so far has received little attention but which has the potential to revolutionize how we do business . . .

Like many such technologies, the initiative has mostly been cloaked in secrecy . . .