Italy's Pitchfork Movement Slammed For "Delirious" Nazi-Like Comments

Italy’s anti-austerity Pitchfork movement, who described Italy as being “enslaved by wealthy Jewish bankers,” has come under fire for “shamelessly recall[ing] a historical period characterised by death, violence and denial of the most elementary rights.” The nation’s Jewish community, writing in La Repubblica, said the Pitchfork leader’s remarks demonstrate a “deeper sense of discomfort” fuelled by “the most violent and grimmest anti-Semitic stereotypes”. Despite Italian stock and bond markets surging to multi-year highs, IB Times notes that mass demonstrations continue to rile the company’s economy as Pitchfork followers demand the total removal of the ruling political class.

 

Via IB Times,

Italy’s Jewish communities have hit back at the spokesman of the anti-austerity Pitchfork movement, who described Italy as being “enslaved by wealthy Jewish bankers”.

 

The Pitchfork protestors’ spokesman, Andrea Zunino, who made the anti-Semitic comments, represents thousands of demonstrators who took to the streets in towns and cities across Italy to voice anger at austerity measures.

 

Renzo Gattegna, representing the Jewish community, said the words were “delirious”.

 

“[Those words] shamelessly recall a historical period characterised by death, violence and denial of the most elementary rights,” he told daily La Repubblica.

 

Conspiracy theories regarding Jews and banking were popular during the rise of National Socialism and the Nazis.

 

Earlier, Zunino had claimed: “We want government resignation. We want sovereignty over Italy which is now the slave of bankers, like the Rothschild: it is odd that five or six among the world’s richest people are Jews.”

 

The Pitchfork movement, which started with a loose group of Sicilian farmers concerned about rising taxes and cuts to agricultural state funds, has evolved into a nationwide umbrella grouping of truckers, small businessman, the unemployed, low-paid workers, rightwing extremists and football supporters.

 

Zunino cites Hungary’s controversial premier Viktor Orban, whose government has been accused of being weak in fighting rising anti-Semitism, as his role model.

 

But Gattegna said the Pitchfork leader’s remarks demonstrate a “deeper sense of discomfort” fuelled by “the most violent and grimmest anti-Semitic stereotypes”.

 

 

Thousands of Pitchfork demonstrators, riled by the country’s struggling economy, have demanded the total removal of the ruling political class, as well as calling for tax cuts, lowered fuel prices, and dumping the euro.

 

Mass demonstrations threw some Italian cities into chaos on Monday with police officers using teargas on protesters who had been throwing rocks and bottles at the headquarters of Italy’s tax collection agency.

 

Roadblocks, demonstrations and sit-ins continued from Milan to Bari in the south.

 

Shop-owners were reportedly threatened by demonstrators to either close their stores and join the protest, or face violence.

Of course, we have discussed the rise of social unrest and its linkages to austerity in the past but perhaps it is the huge gap between markets and high earner wealth and the struggling-with-record-unemployment working class that has fuelled the problems in Italy to this point.


    



via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/y4HF712PNAk/story01.htm Tyler Durden

Italy’s Pitchfork Movement Slammed For “Delirious” Nazi-Like Comments

Italy’s anti-austerity Pitchfork movement, who described Italy as being “enslaved by wealthy Jewish bankers,” has come under fire for “shamelessly recall[ing] a historical period characterised by death, violence and denial of the most elementary rights.” The nation’s Jewish community, writing in La Repubblica, said the Pitchfork leader’s remarks demonstrate a “deeper sense of discomfort” fuelled by “the most violent and grimmest anti-Semitic stereotypes”. Despite Italian stock and bond markets surging to multi-year highs, IB Times notes that mass demonstrations continue to rile the company’s economy as Pitchfork followers demand the total removal of the ruling political class.

 

Via IB Times,

Italy’s Jewish communities have hit back at the spokesman of the anti-austerity Pitchfork movement, who described Italy as being “enslaved by wealthy Jewish bankers”.

 

The Pitchfork protestors’ spokesman, Andrea Zunino, who made the anti-Semitic comments, represents thousands of demonstrators who took to the streets in towns and cities across Italy to voice anger at austerity measures.

 

Renzo Gattegna, representing the Jewish community, said the words were “delirious”.

 

“[Those words] shamelessly recall a historical period characterised by death, violence and denial of the most elementary rights,” he told daily La Repubblica.

 

Conspiracy theories regarding Jews and banking were popular during the rise of National Socialism and the Nazis.

 

Earlier, Zunino had claimed: “We want government resignation. We want sovereignty over Italy which is now the slave of bankers, like the Rothschild: it is odd that five or six among the world’s richest people are Jews.”

 

The Pitchfork movement, which started with a loose group of Sicilian farmers concerned about rising taxes and cuts to agricultural state funds, has evolved into a nationwide umbrella grouping of truckers, small businessman, the unemployed, low-paid workers, rightwing extremists and football supporters.

 

Zunino cites Hungary’s controversial premier Viktor Orban, whose government has been accused of being weak in fighting rising anti-Semitism, as his role model.

 

But Gattegna said the Pitchfork leader’s remarks demonstrate a “deeper sense of discomfort” fuelled by “the most violent and grimmest anti-Semitic stereotypes”.

 

 

Thousands of Pitchfork demonstrators, riled by the country’s struggling economy, have demanded the total removal of the ruling political class, as well as calling for tax cuts, lowered fuel prices, and dumping the euro.

 

Mass demonstrations threw some Italian cities into chaos on Monday with police officers using teargas on protesters who had been throwing rocks and bottles at the headquarters of Italy’s tax collection agency.

 

Roadblocks, demonstrations and sit-ins continued from Milan to Bari in the south.

 

Shop-owners were reportedly threatened by demonstrators to either close their stores and join the protest, or face violence.

Of course, we have discussed the rise of social unrest and its linkages to austerity in the past but perhaps it is the huge gap between markets and high earner wealth and the struggling-with-record-unemployment working class that has fuelled the problems in Italy to this point.


    



via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/y4HF712PNAk/story01.htm Tyler Durden

Guest Post: Local Perceptions And Bitcoin's Future In Singapore

Submitted by Keith Hilden, Squawkonomics

Squawk Walk Singapore: Local Perceptions and Bitcoin’s Future in Singapore

I have just returned from a very enjoyable trip to Singapore, in which our goal was to determine the sentiments and level of knowledge people had about Bitcoin in order to better determine Bitcoin’s future in Singapore. That journey took me to the pulsating central business district of a vibrant Singapore, traditional neighborhoods completely recast in the face of new immigration and rigorous central planning, and the newcomer immigrants and permanent residents where languages like Thai and Japanese punctuate the linguistic air of Singapore accentuated English. What we found out about Bitcoin sharply contrasted with that of what we learned about Bitcoin in Taiwan.

 

Bitcoin has a future here in Singapore, but it is a future that inevitably will be co-opted by central planning and control. The majority of locals who did not have the best sentiments regarding Bitcoin cited the lack of central control, ironically the reason in other countries why Bitcoin enjoyed its meteoric rise. Bitcoin is expected to be pilloried with payment gateways and other payment process implementation mechanisms to streamline the Bitcoin protocol into a fashion that the locals are familiarized to and prefer- a robust payment method with savings applications that is guaranteed by an actual organization against loss. Look no further than this lagging indicator, taken around the Promenade of the central business district overlooking the Marina Bay Sands casino, that Bitcoin’s future in Singapore is a co-opted system run on the familiar rails of global multinational corporations.

Source: Squawkonomics

Bitcoin’s culture in Singapore seems set in the trajectory of government involvement and control, far different than the cryptophile tech savvy liberty proponents calling for a much different future of decentralization, individualism, and confidence through peer-reviewed transaction confirmations. Indeed, it appears that Bitcoin is headed for a schism in how governments and populations in different countries wish to administer and implement Bitcoin in their own countries, resulting in strange family gatherings of statism and libertarianism driving Bitcoin’s future across various countries in the world. The big picture is an unfolding dynamic of converging discordant forces of libertarianism and statism at the crux of a grand showdown, as the battle lines for control of Bitcoin are drawn in places like Singapore, Germany, and China.

Singaporeans we talked to seemed to prefer government control over Bitcoin due to their perception of government being able to control price fluctuations and guarantee against loss. However, when asked if they would accept an independent organization guaranteeing Bitcoin transactions, most of the Singaporeans we talked to would also be fine with that. Almost all Singaporeans we talked to were not satisfied with the current Wild West status quo they perceived as a downfall to Bitcoin’s development.

Singaporeans we talked to as a whole expressed a rock-solid confidence in their government’s ability to guarantee the financial system, banking system, and the stability in the Singapore dollar. Singaporeans also questioned the need for Bitcoin when there was a plentiful array of payment methods around Singapore. Very few Singaporeans saw Bitcoin in the light of an advantageous vehicle in which to store savings, and most cited volatile fluctuations in the Bitcoin price for that reason.

Singaporeans further were not clear what was backing Bitcoin and thus were not clear as to how Bitcoin’s price could be so high. However, when the US came into conversation, the conversation veered many a times to the US money printing by Ben Bernanke, and the inflation and debt arising from that. Some of them had even likened Bitcoin to the US dollar, in the sense they felt nothing was backing either of them, and had no guarantee behind it. However, many Singaporeans spoke of US monetary and economic problems as if from a different part of the world that didn’t impact them in the slightest.

In comparison between what we learned in Singapore and Taiwan:

#1 People in Singapore had a drastically lower concern about cyber security with Bitcoin than did people in Taiwan.

#2 People in Singapore trusted the government to guarantee the financial and monetary system much more than people in Taiwan did. No one in Taiwan explicitly said they didn’t need Bitcoin due to confidence in their government.

#3 People in Singapore were at the same time more willing to try Bitcoin out, while people in Taiwan were much more conservative and cited the need to limit their exposure in Bitcoin and use it from arm’s length.

#4 Knowledge about Bitcoin in Singapore was remarkably higher than it was in Taiwan.

And for a fascinating insight on how people in Taiwan view Bitcoin, check out our Squawk Walk Taipei from last week:


    



via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/ibxUmx9o68Y/story01.htm Tyler Durden

Guest Post: Local Perceptions And Bitcoin’s Future In Singapore

Submitted by Keith Hilden, Squawkonomics

Squawk Walk Singapore: Local Perceptions and Bitcoin’s Future in Singapore

I have just returned from a very enjoyable trip to Singapore, in which our goal was to determine the sentiments and level of knowledge people had about Bitcoin in order to better determine Bitcoin’s future in Singapore. That journey took me to the pulsating central business district of a vibrant Singapore, traditional neighborhoods completely recast in the face of new immigration and rigorous central planning, and the newcomer immigrants and permanent residents where languages like Thai and Japanese punctuate the linguistic air of Singapore accentuated English. What we found out about Bitcoin sharply contrasted with that of what we learned about Bitcoin in Taiwan.

 

Bitcoin has a future here in Singapore, but it is a future that inevitably will be co-opted by central planning and control. The majority of locals who did not have the best sentiments regarding Bitcoin cited the lack of central control, ironically the reason in other countries why Bitcoin enjoyed its meteoric rise. Bitcoin is expected to be pilloried with payment gateways and other payment process implementation mechanisms to streamline the Bitcoin protocol into a fashion that the locals are familiarized to and prefer- a robust payment method with savings applications that is guaranteed by an actual organization against loss. Look no further than this lagging indicator, taken around the Promenade of the central business district overlooking the Marina Bay Sands casino, that Bitcoin’s future in Singapore is a co-opted system run on the familiar rails of global multinational corporations.

Source: Squawkonomics

Bitcoin’s culture in Singapore seems set in the trajectory of government involvement and control, far different than the cryptophile tech savvy liberty proponents calling for a much different future of decentralization, individualism, and confidence through peer-reviewed transaction confirmations. Indeed, it appears that Bitcoin is headed for a schism in how governments and populations in different countries wish to administer and implement Bitcoin in their own countries, resulting in strange family gatherings of statism and libertarianism driving Bitcoin’s future across various countries in the world. The big picture is an unfolding dynamic of converging discordant forces of libertarianism and statism at the crux of a grand showdown, as the battle lines for control of Bitcoin are drawn in places like Singapore, Germany, and China.

Singaporeans we talked to seemed to prefer government control over Bitcoin due to their perception of government being able to control price fluctuations and guarantee against loss. However, when asked if they would accept an independent organization guaranteeing Bitcoin transactions, most of the Singaporeans we talked to would also be fine with that. Almost all Singaporeans we talked to were not satisfied with the current Wild West status quo they perceived as a downfall to Bitcoin’s development.

Singaporeans we talked to as a whole expressed a rock-solid confidence in their government’s ability to guarantee the financial system, banking system, and the stability in the Singapore dollar. Singaporeans also questioned the need for Bitcoin when there was a plentiful array of payment methods around Singapore. Very few Singaporeans saw Bitcoin in the light of an advantageous vehicle in which to store savings, and most cited volatile fluctuations in the Bitcoin price for that reason.

Singaporeans further were not clear what was backing Bitcoin and thus were not clear as to how Bitcoin’s price could be so high. However, when the US came into conversation, the conversation veered many a times to the US money printing by Ben Bernanke, and the inflation and debt arising from that. Some of them had even likened Bitcoin to the US dollar, in the sense they felt nothing was backing either of them, and had no guarantee behind it. However, many Singaporeans spoke of US monetary and economic problems as if from a different part of the world that didn’t impact them in the slightest.

In comparison between what we learned in Singapore and Taiwan:

#1 People in Singapore had a drastically lower concern about cyber security with Bitcoin than did people in Taiwan.

#2 People in Singapore trusted the government to guarantee the financial and monetary system much more than people in Taiwan did. No one in Taiwan explicitly said they didn’t need Bitcoin due to confidence in their government.

#3 People in Singapore were at the same time more willing to try Bitcoin out, while people in Taiwan were much more conservative and cited the need to limit their exposure in Bitcoin and use it from arm’s length.

#4 Knowledge about Bitcoin in Singapore was remarkably higher than it was in Taiwan.

And for a fascinating insight on how people in Taiwan view Bitcoin, check out our Squawk Walk Taipei from last week:


    



via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/ibxUmx9o68Y/story01.htm Tyler Durden

Bombing Kills at Least 4 in Beirut, Over 1,000 Cars Torched in France Over New Year’s, Republican Activist Wants California Legislature To Grow: P.M. Links


  • A bombing
    in a Hezbollah-controlled area of Beirut has killed
    at least four people.
  • The
    chaplain
    for New York City’s Department of Sanitation (yes,
    really) called the Big Apple a “plantation” during Mayor Bill de
    Blasio’s inauguration ceremony.
  • A Republican activist in California is working on a proposal to
    expand the
    California legislature
    to 12,000 members from its current
    120.
  • A Saudi man has been sentenced to
    90 days in jail and 80 lashes
    for accusing a Kuwaiti singer of
    adultery on Twitter.
  • According to the French interior minister,
    1,067 cars
    were torched over New Year’s.
  • Ford has unveiled a hybrid car that uses
    solar energy
    to power its battery pack.

Follow Reason and Reason 24/7 on
Twitter, and like us on Facebook.
  You
can also get the top stories mailed to
you—
sign
up here.
 

from Hit & Run http://reason.com/blog/2014/01/02/bombing-kills-at-least-4-in-beirut-over
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Matthew Feeney on Why British Free Marketeers Should Welcome Romanian and Bulgarian Immigrants

Yesterday, the remaining transitional
controls on the free movement of Romanians
and Bulgarians within the European Union were
lifted. Romanians and Bulgarians are now
free to work anywhere within the economic bloc thanks to
one of its only good policies. Some politicians who are
self-described fans of the free market came out against the free
movement of people. Matthew Feeney explains that the political
rhetoric in the U.K. surrounding Bulgarian and Romanian migration
has highlighted the fact that politicians from political parties
whose members claim to be either pro-markets, anti-E.U., or both
would implement anti-capitalist policies hostile to the free
movement of people if they were given free rein. 

View this article.

from Hit & Run http://reason.com/blog/2014/01/02/matthew-feeney-on-why-british-free-marke
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What Do Ayn Rand, Dr. Seuss, and Buddy Holly Have in Common?

If I go on strike, Whoville will grind to a halt.If you were dreaming that this year an
upstart publisher would mash up Atlas
Shrugged
 and How
the Grinch Stole Christmas
 into a book both egoists
and altruists could love, you’re out of luck. There was a time
when American copyrights covered creative efforts for no more than
56 years, allowing both of those books to enter the public domain
yesterday. But the Copyright Act of 1976 brought that saner system
to an end, and since then copyright terms have only grown
longer
.

The Center for the Study of the Public Domain has posted a
list
of famous novels, films, and other works that would have come into
the public domain this year if the pre-’76 system were still in
place; they range from Salvador Dali’s Celestial
Ride
 to Buddy Holly’s “Peggy Sue.” Under the old law, the
site notes, you

would be free to translate [the list’s] books into
other languages, create Braille or audio versions for visually
impaired readers (if you think that publishers wouldn’t object to
this, you would be wrong), or adapt them for film. You could read
them online or buy cheaper print editions, because others were free
to republish them….Imagine a digital Library of Alexandria
containing all of the world’s books from 1957 and earlier, where,
thanks to technology, you can search, link, index, annotate, copy
and paste. (Google Books has brought us closer to this reality, but
for copyrighted books where there is no separate agreement with the
copyright holder, it only shows three short snippets, not the whole
book.) Instead of seeing these literary works enter the public
domain in 2014, we will have to wait until 2053.

We might have to wait even longer. The content industry is
gearing up to extend copyright terms
yet again
.

from Hit & Run http://reason.com/blog/2014/01/02/what-do-ayn-rand-dr-seuss-and-buddy-holl
via IFTTT

Stocks Have Worst Start To Year Since 2008

Despite the best efforts of 330RAMP CAPITAL, US equity indices ended the first trading day of the year with the biggest loss (on that day) since 2008. Led by weakness in the high-beta indices as Trannies tumbled their most in 4 months and the S&P's biggest daily downswing in over 3 weeks. On a side-note, gas prices have never been this high on the first day of the year. VIX closed higher once again as stocks began to catch down to it's recent warnings. Bonds rallied from the open this morning (with 10Y 6bps lower in yield from its opening print) with 10Y back under 3%. EUR weakness drove the USD higher (but JPY strength weighed on stocks). The biggest moves appeared in commodities with gold and silver up nicely and WTI crude down hard… on, and TWTR was up over 6%!

 

 

Gas prices have never been higher on the first day of the year…

 

Stocks were spanked from the panic-buying highs of New Year's Eve…Notably, the major selling pressure ended when Europe closed. Did we really see a rotation from US equities into European bonds?

 

So buy TWTR you idiot!!!

 

VIX pushed higher still and stocks began to catch down…

 

Despite Treasury strength, Utilities are actually the worst performer off the highs of New Year's Eve…

 

Which, perhaps most interestingly, means Utilities are now unchanged from the Taper…

 

Treasuries rallied from the get-go…

 

But commodities were the most actuve space today with Gold and silver surging and oil plunging… Gold's best day in 10 weeks; oil's worst day in 13 months

 

 

and FX markets have had quite a week but it seems the EUR repatriation filled its year-end liquidity needs and is now unwinding (on European bond's best day in over a year!!)

 

Charts: Bloomberg

Bonus Chart: Since 2000, there has now been 7 years with a negative first day. Of the previous 6, half ended the year with losses (-10.3%, -13%, and -38.5%)… will 2014 be any different? (h/t @Not_Jim_Cramer)


    



via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/YX7zOaymFYU/story01.htm Tyler Durden

New York Declares State Of Emergency Ahead Of Nor'easter Snowstorm

A day after the new NYC mayor was sworn in, it looks like he will be busy digging his brand new city from under “blizzardlike” conditions including 5-6 inches of snow, which it seems are enough for New York governor Andrew Cuomo to declare…

The road closures are already known:

Finally, some details on what to expect:

Authorities are prepping hundreds of plows and tons of salt, shutting down highways and making contingency plans for mass transportation as a powerful nor’easter that is expected to dump up to 10 inches of snow on parts of the tri-state area and bring caustic 25-mph winds bears down on the East Coast.

 

A blizzard warning is in effect for Long Island, and winter storm warnings are in effect for most of the tri-state through Friday morning and hundreds of flights at the region’s three primary airports were canceled by mid-afternoon Thursday. A winter storm watch is in effect for central New Jersey and points south.

 

Flurries began falling late Wednesday into Thursday, leaving a light dusting of snow on roads and walkways for the first commute of the new year. Forecasters say snowfall will become heavier and steadier Thursday evening into Friday, accompanied by plunging temperatures and whipping winds that will make it feel like 10 degrees below zero in some spots overnight.

 

Gov. Cuomo has already announced the Long Island Expressway will be shut down at midnight within Nassau and Suffolk. The Queens section of the L.I.E. will remain open. Route 87 south of Albany will also be closed, and all of Route 84 will be shut down.

 

The roads will be reopened at 5 a.m., if conditions allow.

 

In New York City, 6 to 8 inches of fluffy snow are expected by Friday morning, and 8 to 10 inches of snow are possible north and west of the city and Long Island. Three to 6 inches are expected to fall in central and southern New Jersey.

 

The snowfall will combine with winds gusting up to 35 miles per hour to create possible white-out conditions, severely hampering visibility late Thursday into Friday, particularly in areas expected to see more accumulation. Drivers are urged to stay off the roads after Thursday afternoon.

 

The winds will cause the snow to drift onto roads, and the frigid temperatures will prevent any melting, which could make for dangerously slick roads for Friday’s morning commute.

 

Mass transit is a “prudent option, given that highways may be closed,” Gov. Andrew Cuomo said in a conference call with reporters Wednesday.


    



via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/uQnnYTqo8NA/story01.htm Tyler Durden

New York Declares State Of Emergency Ahead Of Nor’easter Snowstorm

A day after the new NYC mayor was sworn in, it looks like he will be busy digging his brand new city from under “blizzardlike” conditions including 5-6 inches of snow, which it seems are enough for New York governor Andrew Cuomo to declare…

The road closures are already known:

Finally, some details on what to expect:

Authorities are prepping hundreds of plows and tons of salt, shutting down highways and making contingency plans for mass transportation as a powerful nor’easter that is expected to dump up to 10 inches of snow on parts of the tri-state area and bring caustic 25-mph winds bears down on the East Coast.

 

A blizzard warning is in effect for Long Island, and winter storm warnings are in effect for most of the tri-state through Friday morning and hundreds of flights at the region’s three primary airports were canceled by mid-afternoon Thursday. A winter storm watch is in effect for central New Jersey and points south.

 

Flurries began falling late Wednesday into Thursday, leaving a light dusting of snow on roads and walkways for the first commute of the new year. Forecasters say snowfall will become heavier and steadier Thursday evening into Friday, accompanied by plunging temperatures and whipping winds that will make it feel like 10 degrees below zero in some spots overnight.

 

Gov. Cuomo has already announced the Long Island Expressway will be shut down at midnight within Nassau and Suffolk. The Queens section of the L.I.E. will remain open. Route 87 south of Albany will also be closed, and all of Route 84 will be shut down.

 

The roads will be reopened at 5 a.m., if conditions allow.

 

In New York City, 6 to 8 inches of fluffy snow are expected by Friday morning, and 8 to 10 inches of snow are possible north and west of the city and Long Island. Three to 6 inches are expected to fall in central and southern New Jersey.

 

The snowfall will combine with winds gusting up to 35 miles per hour to create possible white-out conditions, severely hampering visibility late Thursday into Friday, particularly in areas expected to see more accumulation. Drivers are urged to stay off the roads after Thursday afternoon.

 

The winds will cause the snow to drift onto roads, and the frigid temperatures will prevent any melting, which could make for dangerously slick roads for Friday’s morning commute.

 

Mass transit is a “prudent option, given that highways may be closed,” Gov. Andrew Cuomo said in a conference call with reporters Wednesday.


    



via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/uQnnYTqo8NA/story01.htm Tyler Durden