Daily Archives: June 11, 2014

German President Has Right To Call Neo-Nazis ‘Loonies’ – Top Court – 11 June 2014

RT logoThe German top court has decided that the country’s President Joachim Gauck can call members of neo-Nazis ‘loonies’, in response to a complaint by the far-right National Democratic Party of Germany (NPD).

It follows a comment the president made to students after a German anti-immigrant party protested against a new refugee center.

The complaint by the anti-immigrant party was dismissed by the Federal Constitutional Court, the Local reported.

Read the full story at: www.rt.com / link to original article

‘Iraq Needs To Name The States Supporting Al-Qaeda Before The UN’ – 11 June 2014

RT logoIraq should name and shame the countries supporting Al-Qaeda and lodge complaints at the United Nations against those countries if it wants to fight Al-Qaeda, an expert on Middle East affairs Zaid Alisa told RT.

RT:How serious is the situation in the country?

Zaid Alisa: I think the situation in northern Iraq particularly in Mosul in Nineveh Province is highly dangerous. It is deeply alarming and deeply worrying that Al-Qaeda has actually managed to seize and overrun the security forces and the Iraqi army, and to establish control over the entire city. This is the second largest city, and this basically should send shock waves right across the entire Middle East.

Read the full story at: www.rt.com / link to original article

ZeroHedge – From London To Madrid To Berlin: Europe’s Cab Drivers Stage Uber Protest – 11 June 2014

 ZeroHedgePerhaps the ‘disruptive’ taxi company’s name refers to its valuation more than its ‘worth’ as Uber’s dramatic expansion plans to take over the world are hitting a rather large snag in Europe. As WSJ reports, taxi drivers planned to turn a handful of European city centers into giant parking lots Wednesday, protesting the mobile car-hailing service. Uber has been subjected to scrutiny elsewhere, including the U.S. and Canada. But the hurdles have been higher in Europe, where taxi drivers tend to be well organized. The industry is often more heavily regulated, and governments are more willing to actively protect sectors under threat of job losses. Across Europe, as the map below shows, Uber is facing a series of legal challenges; which makes, as NYU valuation guru Aswath Damodaran confirms means the $18 billion number “is likely wishful thinking.”


ZeroHedge – Will Spain Default? – 11 June 2014

 ZeroHedgeWith 10Y yields trading below those of US Treasuries, asking the question of Spain’s rising default risk seems risible but as Bloomberg’s Maxime Sbaihi notes, the longer the euro flirts with deflation, the higher the risk that the heavily indebted (and becoming more so) countries will be tempted to default. Of course, this ‘concern’ is entirely ignored by the ‘market’ as Draghi has promised enough liquidity to soak up every short-dated bond but as the European Union’s so-called “1/20 rule” suggests – requiring states to reduce excessive (over 60% Debt/GDP) by 1/20th every year or face a fine of 0.2% of GDP – Spain, it appears has 5 options to escape this vicious circle… and one of those is restructuring

Read the full story at: www.zerohedge.com /link to original article

Ukraine’s Demand For Gas Price Below $385 Leads To Political Deadlock – Putin – 11 June 2014

RT logoRussia has offered Ukraine a final gas price of $385 per 1,000 cubic meters, and if Kiev continues to ask for a lower price, rapport between the two countries will fall apart, Russian President Vladimir Putin said Wednesday.

“We believe our proposals offered more than a partnership aimed to support the Ukrainian economy during its difficult period when it was in need. But if our proposals are rejected, then we move into a completely different stage, it’s not our choice,” Putin said at a meeting with government officials.

The price has now been set at $385 per thousand cubic meters, $100 less than the previous $485 price Moscow set but more than the $268.50 price Kiev demanded.

Read the full story at: www.rt.com / link to original article

‘Japan Wants To Spread Military Wings In Way It Hasn’t For Decades’ – 11 June 2014

RT logoShinzo Abe’s constitution amendments are designed to pair Japan militarily with other countries, which should develop stronger defense ties and make it more effective, RMIT lecturer Binoy Kampmark told RT.

RT:Japan has relaxed its self-imposed ban on weapons exports. Is this just about profit or is there more to it?

Binoy Kampmark: I think at the basis of this particular relaxation is an attempt by Japan to be more militarily involved in the region. Part of this is the constitutional injunction about military involvement. It’s based largely on how it interprets the constitution. Shinzo Abe has made it very clear that he wants a more flexible interpretation, which involves a broader concept of collective self-defense. And in a sense these particular deals that are being done, the Australian deals specifically, is an example of how Japan wants to spread its wings in the way that it hasn’t done for decades.

Read the full story at: www.rt.com / link to original article

ZeroHedge – Bank Of America Shocker: New Commercial Loan Plunge Is Largest Since Lehman – 11 June 2014

 ZeroHedgeRoughly two months ago, when we compared the loan data released by America’s largest, TBTF banks, and what the Fed’s own commercial bank data revealed in its weekly H.8 statement, we asked a simple question: “Is The Fed Fabricating Loan Creation Data?” Visually, the discrepancy was shown as follows:

ZeroHedge – Frontrunning – 11 June 2014

  • ZeroHedgeWorld Bank Cuts Global Growth Forecast After ‘Bumpy’ 2014 Start (BBG)
  • Al-Qaeda Offshoot Threatens Iraq Oil Site After Taking Mosul (BBG)
  • Fed Prepares to Keep Record Balance Sheet for Years to Come (BBG)
  • EU investigates tax rulings on Apple, Starbucks, Fiat unit (Reuters)
  • Cantor Loss Shocks Republicans, Dims Immigration Changes (BBG)
  • More surveillance: Google to Buy Satellite-Imaging Startup for $500 Million (WSJ)
  • Tea Party activist who defeated Cantor focused on budget, immigration (Reuters)
  • Airbus Suffers Worst Order Loss as Emirates Deal Scrapped (BBG)
  • Amazon.com plans local services marketplace this year (Reuters)
  • Amazon Stops Taking Advance Orders for ‘Lego’ and Other Warner Videos (NYT)
  • China ramps up spending to spur economy, central bank sees stable policy (Reuters)
  • Microsoft Protests Order for Email Stored Abroad (NYT)
  • AIG Names Peter D. Hancock New CEO (Reuters)
  • Bank of England sends in hackers to test lenders’ defences (Independent)
  • Former and Current UPS Employees Allege Race Discrimination in Suit (WSJ)

Continue reading

The Return Of Polio In Turkey: Syrian Refugees In Istanbul – 11 June 2014

RT logoAuthor: Dr. Can Erimtan is an independent scholar residing in İstanbul, with a wide interest in the politics, history and culture of the Balkans and the Greater Middle East. He tweets at @theerimtanangle

Over the past weeks and months, I have often dealt with Turkey’s overt and covert involvement in Syria’s not-so civil war next door. The country at the moment is home to at least 720,000 Syrian refugees.

Only a small fraction of these have been registered and are housed in camps, with around 500,000 refugees living in urban centers throughout the country, and migrating west with the hope of ending up in Istanbul – Turkey officially estimates that about 120,000 Syrians actually live there now.

These Syrians have risked life and limb to escape from the dangers of war. And now it turns out, these Syrian refugees have become a source of danger in their own right.

Read the full story at: www.rt.com / link to original article

US Commandos Get Permanent Eastern European Foothold – 11 June 2014

RT logoAmerican special operations units permanently deployed in Eastern Europe are no longer just on the Pentagon’s wish list. About 100 instructors are set to train spec ops teams in former Soviet bloc states to ‘message’ Moscow over the conflict in Ukraine.

Russia launches Baltic drills alongside NATO Saber Strike war games

Tanks, troops, jets: NATO countries launch full-scale war games in Baltic

The latest statements from the US European Command (EUCOM) once again prove that Washington is using the crisis in Ukraine to revitalize the NATO alliance and bolster its military presence in Europe in order to tie it to the US.

Read the full story at: www.rt.com / link to original article