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

A Worldwide Run on Bullion Causes Concern

7-23-2013 from zerohedge.com

Gold surged over 3% yesterday due to the continual hemorrhaging of gold inventories from the COMEX.

Concerns about a default on the COMEX, once the preserve of a few observant market watchers, are becoming more widespread  as we appear to be witnessing a run on the highly leveraged bullion banking system.

Very robust physical demand from the Middle East, Asia and particularly China and a decline in the dollar also helped prices log their biggest one-day gain in over a year and their first close above $1,300 an ounce in nearly five weeks.

Court and Senator Say NSA Has Violated Constitution

Historically, the NSA prided itself on its internal code of conduct. Something happened to this once moral agency. It crossed a line from following the law to violating it.

So says Senator Ron Wyden, talking about domestic intelligence collection by the NSA and the findings of the court (FISC) charged with overseeing NSA’s collection program:

“… on at least one occasion the Foreign Intelligence Surveillance Court held that some collection carried out pursuant to section 702 minimization procedures used by the government was unreasonable under the Fourth Amendment.”

We don’t know the details of the classified order, but it’s clear that it’s a very important aspect of the domestic spying apparatus that even the court overseeing the program found it straying into illegal territory, says Business Insider.

Here’s the relevant text of the amendment:

“The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no warrants shall issue, but upon probable cause, supported by oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.”

Business Insider has written an article on this topic, including other sources of information about intelligence collection by the agency. You may read it by clicking the link below.

http://www.businessinsider.com/nsa-spying-violated-the-constituion-2013-6

He Stole $ But Won’t See Criminal Charges

Federal Regulators will go easy on Jon S. Corzine, who was MF Global’s chief executive when the company went bankrupt and customers’ funds went missing.

In a rare move against a Wall Street executive, the agency has informed Mr. Corzine’s lawyers that it aims to file a civil–not criminal– case without offering Corzine the opportunity to settle.

Perhaps there will be a form of justice anyway. The court battle could wage on for years. Wouldn’t it be lovely if Corzine were left as penniless as the people whose money he took?

Rumor Has It the Fed Has Pulled the Plug on QE–Permanently

A stock trader sent this tidbit to me. It’s a quote from a research analyst:

It’s worth noting that central banks in the developed world pride themselves on preparing the markets for their actions so as not to cause excess volatility. The Fed has failed at this as their QE tapering communication has gone awry, causing markets to take a swoon. Bernanke’s chief job next week is to get control of the QE3 conversation and remind markets that the Fed will not do anything too hasty as it exits its massive stimulus programme.

Do You Remember Signs that Read “The End Is Near”?

Tyler Durden's picture

Guest Post: How Does It End?

Submitted by Tyler Durden on 06/14/2013 – 11:32

The days of reasonable economic forecasting are over. Today, an economic forecast is more like the analysis of a criminal mind than the evaluation of economic data. The dominating role of government overpowers markets intentionally. In the short-term that will continue. Reactions to Federal Reserve minutes referencing continuation, alteration or cessation of quantitative easing cause stock markets to move by over 100 points. Other markets are affected by government interventions, just not so noticeably. Long term, markets will overpower government. Welfare states can no longer maintain their level of spending, services and welfare. However, they dare not stop lest civil unrest and violence break out. The bind they are in has no solution. Governments around the world are doing whatever is necessary to survive. Lying, stealing and outright confiscation will begin in order to support their bankruptcies. Cyprus was a minor precursor of what is coming.