Soros Has A Modest Proposal For How To Punish Russia

Having warned of Putin’s blind-spot (and Merkel’s position of potential leadership) in the Europe-US-Russia debacle, billionaire investor George Soros has some ideas on how to punish Russia (and some warnings on the consequences)

  • *SOROS SAYS PUTIN ‘ACTING OUT OF WEAKNESS’
  • *SOROS SAYS UKRAINE CRISIS IS LEADERSHIP CHANCE FOR MERKEL
  • *SOROS SAYS MERKEL’S LEADERSHIP HAS GROWN IN UKRAINE CRISIS
  • *SOROS SAYS U.S. SELLING OIL RESERVES WOULD HURT RUSSIA
  • *SOROS SAYS U.S. HOLDS ‘STRONGEST SANCTION’ WITH OIL RESERVE

Via Bloomberg,

Russian President Putin sought to prop up flagging support at home in a move that “turned him adventurous abroad and repressive at home,” billionaire investor and Chairman of the Open Society Institute George Soros said today during a podium discussion in Berlin.

Soros also said:

Putin “acting out of weakness” following sag in domestic popularity since beginning second term as president

 

On Merkel: Ukraine crisis “an opportunity for the chancellor to emerge as the leader of a united Europe, not just a chancellor preoccupied with the national interests of Germany.”

And added that the US still holds the biggest bazooka…

“Strongest sanction” against Russia “is in the hands of the United States” because U.S. could sell crude from the Strategic Oil Reserve and depress prices, investor George Soros says during panel discussion in Berlin.

 

Says Russia needs oil at $100/bbl “to balance the budget”

The problem, Soros notes, is…

“Task is to help Ukraine rather than just punishing Russia because just punishing Russia will push Putin further into a corner and as a wounded animal he would strike back and it would be a lose-lose proposition.”

So will Obama shoot himself in the foot?


    



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Video of the Day – Reporter Reveals White House Press Conferences are Entirely Scripted Nonsense

I hold the world but as the world, Gratiano;
A stage where every man must play a part,
And mine a sad one.

– The Merchant of Venice, Act I, Scene I

As readers of this site are already very much aware, the entire world around us is micro-managed with intense propaganda by what Professor C. Wright Mills called ”the power elite.” This culminates into an existence within a manufactured, nonsensical world that investment legend Seth Klarman referred to as The Truman Show.

Well The Truman Show that is the USA has been exposed once again. According to this CBS reporter from Arizona, White House Press Secretary Jay Carney receives all questions to “press briefings” ahead of time. In many cases, the reporters themselves even possess the scripted answers to their questions before the conference starts. Yes, as suspected, it’s all just one gigantic stage and you are the clown in the audience.

Watch and weep serfs.

 

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Video of the Day – Reporter Reveals White House Press Conferences are Entirely Scripted Nonsense originally appeared on A Lightning War for Liberty on March 20, 2014.

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PRISM: Don’t Worry, We Only Track Your Email Address, Not Keywords

Lawyers representing the
government’s intelligence services claim that PRISM, the mass
surveillance program that mines data from major Internet
communication companies, does not snoop on people based on
“keywords like terrorism” and instead targets certain email
addresses and phone numbers. Isn’t that heartening?

Agence-France Presse (AFP)
writes
that “they told the hearing hosted by the Privacy and
Civil Liberties Oversight Board…that the NSA did not aim to scoop
up all web transmissions, but that the surveillance was narrowly
tailored to track or uncover terror suspects and other
threats.”

“We figure out what we want and we get that specifically, that’s
why it’s targeted collection rather than bulk collection,” a
representative of the Office of the Director of National
Intelligence
said
about the program, “which focuses on foreign suspects
outside the United States.”

“Any time there is not foreign intelligence value to collection,
by definition it will be purged,” the National Security Agency’s
Rajesh De stated.

Unsurprisingly, another NSA representative “insisted that the
American government and the NSA had acted within the law at all
times,”
according
to The Register.

The claims are suspect, given the proclivity of NSA officials to
sometimes offer the “least untruthful” answer
when questioned. And even if PRISM does not itself pay attention to
keywords, that does not mean that one of the U.S. government’s 21
other
known
mass surveillance projects, systems, and initiatives is
not providing PRISM with deeper information on its targets. The NSA
does, after all, employ “parallel
construction
,” a tactic which Reuters
decribed
 last year: “federal agents are trained to
‘recreate’ the investigative trail to effectively cover up where
the information originated.”

The Guardian
reported
 an apparent bombshell—that “testimony by Rajesh
De contradicted denials by technology companies about their
knowledge of NSA data collection”—but the paper has
retracted that claim.

Edward Snowden spoke through a telepresence robot at a
conference on Tuesday,
assuring
that “there are absolutely more revelations to come.”
Whether we’re moving closer toward a sci-fi utopia or dystopia, I
can’t tell, but the fact that a robo-Snowden has already been
unleashed seems like a good sign.

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The United States of Cigarette Smuggling

Some 56.9 percent of the cigarettes consumed in
New York state are smuggled in from another state. That’s a bigger
percentage than any other state, according to a
ranked map
put together by analysts at the Tax Foundation. The
states with the next highest inbound smuggling are Arizona (51.5
percent), New Mexico (48.1 percent), Washington state (48 percent),
and Wisconsin (34.6 percent).

Cigarette smuggling is pervasive in large part because of the
high cigarette taxes some states impose. The sizable differentials
between higher-tax states and their lower-tax counterparts,
especially when those lower-tax states are nearby, creates a big
incentive to run cheap, low-tax smokes across borderlines.

So it’s not surprising to find that New York is not only the
state with the most inbound smuggling but the state with the
highest tax: $4.35 per pack—with an additional $1.50 tacked on if
you’re lucky enough to live in the Big Apple. According to the Tax
Foundation, both smuggling and cigarette taxes have risen rapidly
in New York during the last eight years. The rate of taxation is up
190 percent; smuggling has risen 59 percent over the same time
frame.

How does your state stack up in the cigarette smuggling
rankings? Check the Tax Foundation’s handy map to find out:

Higher cigarette taxes make legally purchased packs more
expensive. But they don’t always lead to the gush of new revenue
that legislators expect when those taxes are passed, in part
because of smuggling. When states count on that revenue (and spend
it) before it actually comes in, they
sometimes find themselves with budget holes as a result
.

We’ve seen the same thing happen with the states involved in the
Master Settlement Agreement (MSA) with the big obacco
manufacturers: States basically partnered with cigarette makers in
exchange for a share of the revenue stream, which would then be
used to fund public health programs. But when the revenue
started to fall
, states were left struggling to pay for the
programs they’d intended to fund with MSA money.  

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@BarackObama’s First Tweet Was Anti-War

On April 29 2007 @BarackObama, which is
currently run by Organizing for Action, tweeted its
first tweet
:

@BarackObama is one of the most followed accounts on
Twitter, with 42.1 million followers at the time of writing.

The tweet came a few days after the Senate passed a funding bill
that would have set a date for American combat troop withdrawal
from Iraq. From a press
release
 about the bill from then-Sen. Obama:

I believe that my plan for a phased withdrawal with the goal of
removing all combat brigades from Iraq by March 31st, 2008 is still
the best way to pressure the warring factions to reach a political
settlement necessary to end this war. This similar plan responsibly
redeploys our troops from Iraq while protecting our interests in
the wider Middle East. It ensures that we are as careful getting
out of Iraq as we were careless getting in.

During his 2008 presidential campaign, Obama made sure to
highlight the fact that—unlike another Democrat seeking the
presidency, then-Sen. Hillary Clinton—he was an early opponent of
the war in Iraq.

As Reason’s Ed Krayewski pointed out in September 2012,
President Obama
did not end
the war. The agreement to withdraw American troops
from Iraq in December 2011 was negotiated between American and
Iraqi officials in 2008. In fact, Obama wanted American troops to
stay in Iraq after 2011. The troops left then anyway
because of that agreement signed by his predecessor—and so, as
The Huffington Post
explained
, “the president ultimately had no choice but to stick
to candidate Obama’s plan.”

More from Reason on Iraq here.

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Porn Star Belle Knox on Being Libertarian; Greg Gutfeld on Being Uncool

On
last night’s episode
of The
Independents
, 18-year-old porn actress and Duke student

Belle Knox
(NSFW) talked about her theories of maximal labor
value and personal autonomy:

Also,
Fox News funnyman
and
rejected Reason intern
Greg Gutfeld talked about John
McCain’s heroism, Rand Paul’s hair, and the Gut’s new book,

Not Cool: The Hipster Elite and Their War on You
:

Go to this
page
for scores of more videos from the show. Tonight’s off,
though make sure you tune in the same time slot for Stossel.

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Heavy Metal Capitalist: Iron Maiden Singer Bruce Dickinson Invests in ‘World’s Biggest Aircraft’

In January 2013, Anne Jolis of The Wall
Street Journal
interviewed Iron Maiden frontman Bruce
Dickinson about his side career as a businessman involved in
Britain’s “highly regulated” airline industry. That experience,

he explained
, helped open his eyes to the risks of
overregulation. “Civil servants, on some level, are almost
institutionally prejudiced against entrepreneurial activity and
risk,” Dickinson declared.

Writing today at Wired.com, Alexander George brings word of
Dickinson’s latest entrepreneurial adventure, investing in the
“world’s biggest aircraft.”
Here’s the story
:

It looks like a sketch from Howard Hughes’ notebooks, but this
massive air ship is real, and currently the biggest aircraft ever
produced. It can also be remote-controlled and land on water. And
the lead singer of Iron Maiden is an investor.

The HAV 304 “Airlander” is just over 300 feet long. That’s
nearly 60 feet longer than a Boeing 747, 80 feet longer than the
Spruce Goose, and 30 feet longer than the Antonov An-225, the
previous title-holder for the world’s largest aircraft.

The flying leviathan was produced by British aeronautics firm
Hybrid Air Vehicles, and it’s being considered for commercial and
rescue applications–at around $100 million each.

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What A Surprise! It Turns Out They Lied About The Deficit Last Year

Submitted by Simon Black of Sovereign Man blog,

Truth can be a damn difficult thing to digest sometimes.

Some of us have been there. You get that news from the doctor that you, or a loved one, has just been diagnosed with a serious disease, and it hits you like a ton of bricks.

Several years ago my father was diagnosed with a brain tumor known as a Glioblastoma (GBM). A GBM diagnosis is essentially a death sentence– it’s one of the most aggressive tumors in existence, and it grows in the part of the body that modern medicine understands the least.

I clearly remember the neurosurgeon telling us, “There have been some miraculous advances in medicine over the last 20-years related to the treatment of cancerous tumors. Unfortunately, this tumor is not one of them.”

It was a tough pill for everyone to swallow… especially my father.

Our natural defense mechanism as human beings is to deny reality. These sorts of things happen to other people, not to us.

It’s this same defense mechanism that leads people to ignore the obvious fiscal realities of their home country despite overwhelming objective evidence.

After all, debt-fueled collapse happens to other countries. Not to us.

We go our entire lives being told that our country is different. We’re special.

We have televised ‘experts’ going on TV explaining why our debts and deficits don’t matter. And Nobel Prize-winning pseduoscientists complaining that our debts and deficits aren’t big enough.

But deep down you know the truth.

In the Land of the Free, the Government Accountability Office (GAO) recently released its 2013 Financial Report of the United States government.

This is the government’s best attempt at an honest accounting of its books. And even though they use a different accounting system that gives them special advantages, the picture is still remarkably bleak.

We all know that the US government has racked up a substantial debt; as of this morning, total outstanding public debt is $17,546,814,482,078.90. ($17.5 trillion)

But it’s not all about the debt. Debt is not necessarily evil… and it’s important to look at the situation qualitatively in addition to quantitatively.

Let’s drop a few zeros and consider this in terms of personal finance.

Assume you had $1.75 million in total debt. That sounds like a lot to most people.

But if you had $3 million in liquid assets to offset the debt, plus $500,000 in annual income to pay interest, living expenses, and just about any contingency that could come your way, you’d be in great shape.

It would be even better if that $1.75 million in debt financed a lucrative real estate investment which was generating a 25% cash-on-cash return for you.

But that’s not the case for the US government.

Despite the Obama administration touting a budget deficit of “only” $680 billion in 2013, the GAO’s more accurate accounting shows a total government cost of $3.8 trillion on total revenue of $2.8 trillion.

In other words– the administration wasn’t exactly honest with the American people– the deficit was more like $1 trillion, not $680 billion. But it gets worse.

The GAO added up ALL the US government’s assets in 2013. Aircraft carriers. The highway system. Land. Cash and financial assets. The total is $2.97 trillion.

The liabilities, on the other hand, total $19.88 trillion. This includes the official public debt, plus all sorts of IOUs and loan guarantees.

This means the net EQUITY of the US government is minus $16.9 trillion.

Moreover, the US government’s cash position is a mere $206 billion… roughly 1.1% of its public debt. This isn’t enough to cover net interest payments for the next year.

Unlike a savvy investor who borrows cheap money to purchase productive assets, the US government borrows money to pay interest.

Quantitatively AND qualitatively, the data point to an inevitable conclusion: despite all the propaganda, this is NOT a risk free environment.

And understanding these trends and consequences is absolutely critical to your long-term financial survival.


    



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President Obama Explains How He’s Improving The Economy For All – Live Feed

Having been shown yesterday by the all-knowing Federal Reserve that growth expectations are “over-optimistic”, we are sure President Obama will make it clear that the US is growing (but could do better), that jobs are being created (but could do better), and how middle-class opportunity is right around the corner if it wasn’t for them dastardly Republicans…

 

The President is due to speak at 230pmET…


    



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John McCain Responds To Russia’s Sanctions, “Cancels Spring Break In Siberia”

While the US administration continues to fire ‘sanction’ bullets at Russia and explains how painful these will be, Senator John McCain – in response to his own sanctioning by the Russians – has responded… (as has John Boehner)

Via John McCain’s website,

U.S. Senator John McCain (R-AZ) today released the following statement on being sanctioned by Russian President Vladimir Putin:

 

I guess this means my spring break in Siberia is off, my Gazprom stock is lost, and my secret bank account in Moscow is frozen.

 

Nonetheless, I will never cease my efforts on behalf of the freedom, independence, and territorial integrity of Ukraine, including Crimea.”

A few more of the exclusive club of sanctioned Americans have commented too…


    



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