Rand Paul's Latest Speech Did Contain Footnotes, But That Doesn't Mean it Was Accurate

Yesterday Sen. Rand Paul (R-Ky.) gave his first
major speech
since the recent plagiarism scandal. Speaking at
The Citadel, Paul outlined his views on the military and foreign
policy in a speech that included 33 footnotes. Unfortunately, Paul
did not outline much new in this speech, and it is already being
criticized for its lack of accuracy.

Anyone who has been following Paul’s beliefs on foreign policy
would not have been surprised to hear him highlight his disapproval
of foreign aid to Egypt, his constitutionalism, his opposition to
intervention in Syria, as well as his anger over the
administration’s response to the attack on the American consulate
in Benghazi last year. Although Paul did not voice any new
complaints, he did say that he will soon be announcing the
formation of a task force “to bring together great minds from the
world of national defense, and put forward a plan to modernize our
military, and strengthen our defenses,” which will include an audit
of the Pentagon.

While Paul may have included 33 footnotes in his speech, The
Daily Beast’s Josh Rogin points out that although more information
was cited, the speech included factual errors relating to claims
about the situations in Egypt and Syria as well the attack on the
American consulate in Benghazi:

From
The Daily Beast
:

For example, in the following two sentences about Egypt, Paul
makes at least four factual errors.

“In Egypt recently, we saw a military coup that this
Administration tells us is not a military coup. In a highly
unstable situation, our government continued to send F-16s, Abrams
tanks and American-made tear gas,” Paul said.

In fact, the State Department has repeatedly said it would not
weigh in on whether the July overthrow of Egyptian President
Mohamed Morsi was a “coup,” deciding that the administration was
not required to make a determination one way or the other.

Following the military takeover of the Egyptian government, the
administration quietly halted all shipments of heavy weapons to
Egypt, mostly adhering to a law requiring a cutoff of military aid
to any country that has experienced a coup, while maintaining a
position of ambiguity over whether a coup had taken place.

Rogin also points out that Paul’s claims relating to the
situation in Syria also contain factual errors:

“As we continue to aid and arm despotic regimes in Egypt, we are
also now sending weapons to the rebels in Syria,” Paul said.
“According to a recent poll from Pew Research, over 70 percent of
Americans are against arming the Islamic rebels in Syria, yet the
Senate continues to arm these Islamic radicals. [15] [16] This is
unacceptable!”

The Obama administration has sent little, if any, weapons to the
Syrian rebels, something that has angered several Republican
colleagues of Paul, most notably Sen. John McCain (R-AZ). The Free
Syrian Army, the armed wing of the Syrian opposition has received
only Meals Ready to Eat, first aid kits, and 10 pickup trucks. The
CIA is reported to be vetting some arms shipments to the rebels
coming from third countries such as Saudi Arabia, but the White
House has repeatedly shot downState Department proposals to arm the
Syrian rebels.

Paul also incorrectly quotes the Pew poll that he footnotes. The
Pew Research Center wrote “overall, 70% oppose the U.S. and its
allies sending arms and military supplies to anti-government groups
in Syria.” Paul instead used the phrase “Islamic rebels” to
substitute for “anti-government groups.”

Finally, Rogin points out that Paul managed to contradict
himself when he talked about Benghazi:

Perhaps the most confusing part of Paul’s speech is a passage
about Benghazi where the Kentucky senator contradicts himself in
back-to-back sentences.

“When Hillary Clinton was asked for more security, she turned
the Ambassador down. [27] Under cross-examination, she admitted
that she never read the cables asking for more security. [28],”
Paul said.

The article Paul footnotes as proof for his first sentence
explains that witnesses were “expected” to testify that Clinton was
personally involved in the refusals to place more security in
Benghazi in the attack; not that this was a fact. The second
sentence confirms that Clinton was not personally involved in the
Benghazi security request, refuting what Paul said one sentence
earlier.

James Rosen at
McClatchyDC
has also written on the factual inaccuracies in
Paul’s speech at The Citadel.

Paul is widely expected to run for president. If he wants to
have a shot at securing the GOP nomination he will have to make
further steps to ensure that his public statements are not only
free of possible plagiarism, but that they are also accurate. As
Reason’s Editor-in-Chief
Matt Welch
wrote earlier this month, “…these sloppy,
undergraduate-level infractions suggest strongly that Sen. Paul is
running a loose ship, one not currently ready for the prime time of
winning a national election.”

The lack of accuracy and the accusations of plagiarism are
frustrating for those, like myself, who agree with many of Paul’s
positions on foreign policy (even if I might wish he would change

some of the rhetoric
and
more fully explain
the policies that would be implemented in a
Paul administration). Paul is one of the United States’ most
prominent non-interventionists, and it would be a shame if his
positions foreign policy continue to be overshadowed by the sort of
errors that have been highlighted recently.

from Hit & Run http://reason.com/blog/2013/11/13/rand-pauls-latest-speech-did-contain-foo
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And Now It’s Time To Blame Hackers For Obamacare’s Failure

Back in October, when Obamacare’s birthing problems first became evident, and when healthcare.gov was revealed as the best website ever built… using ForTran… we suggested that it was only a matter of time before Obama blames the evil, terroristy hackers of the world and mostly of Syria. Moments ago, that just happened.

  • U.S. CYBERSECURITY OFFICIAL SAYS AWARE OF ONE ATTEMPTED DENIAL OF SERVICE ATTACK ON HEALTHCARE.GOV

Good old administration: predictable to a fault. Now go get those evil, terroristy hackers.


    



via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/0PWeoVwPZuc/story01.htm Tyler Durden

And Now It's Time To Blame Hackers For Obamacare's Failure

Back in October, when Obamacare’s birthing problems first became evident, and when healthcare.gov was revealed as the best website ever built… using ForTran… we suggested that it was only a matter of time before Obama blames the evil, terroristy hackers of the world and mostly of Syria. Moments ago, that just happened.

  • U.S. CYBERSECURITY OFFICIAL SAYS AWARE OF ONE ATTEMPTED DENIAL OF SERVICE ATTACK ON HEALTHCARE.GOV

Good old administration: predictable to a fault. Now go get those evil, terroristy hackers.


    



via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/0PWeoVwPZuc/story01.htm Tyler Durden

“Unruffled” Export-Stimulating Germany Blasts Back At Barroso’s Bureaucratic Blathering

First it was the Treasury, next it was European Commissioner Barroso who indicated he has never read “Export-led growth through exports for idiots” and announced the launch of a probe into Germany’s so-called “export surplus.” Because how dare Germany produce stuff that the world needs and buys, instead of flooding its economy with record debt to fund consumption-driven “groath.” Well, it didn’t take long for the German Economic Ministry to retort to Europe’s unelected economic titans of thought, for whom it is far more important that all sink together dragged down by cement boots made out of debt, and blasted Barroso bureaucratic blather.

From Bloomberg:

  • German Ministry Says Unruffled by EU Probe Into Export Surplus
  • The EU Commission has previously said that current account surpluses are “unproblematic” provided they are as in Germany’s case the result of “competitiveness of companies in functioning markets” and not supported by subsidies, the German Economy Ministry said today in an e-mailed statement.
  • “Diverse” factors will cause account balance in EU to diminish
  • “There is no weakness in structural investment in Germany”; domestic investment gap emerged since 2011 caused by investor tremors over euro debt crisis and is showing betterment: ministry
  • 40% of German exports rely on intermediate imported goods from
    EU partners, underling the benefits of exports to those partners:
    ministry

Translation: you “investigate” us, and 40% of Europe’s internal exports to Germany get it. Passive-aggressively of course. Oh yeah, and kiss that ECB QE idea goodbye.


    



via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/FZzIxi8igxo/story01.htm Tyler Durden

"Unruffled" Export-Stimulating Germany Blasts Back At Barroso's Bureaucratic Blathering

First it was the Treasury, next it was European Commissioner Barroso who indicated he has never read “Export-led growth through exports for idiots” and announced the launch of a probe into Germany’s so-called “export surplus.” Because how dare Germany produce stuff that the world needs and buys, instead of flooding its economy with record debt to fund consumption-driven “groath.” Well, it didn’t take long for the German Economic Ministry to retort to Europe’s unelected economic titans of thought, for whom it is far more important that all sink together dragged down by cement boots made out of debt, and blasted Barroso bureaucratic blather.

From Bloomberg:

  • German Ministry Says Unruffled by EU Probe Into Export Surplus
  • The EU Commission has previously said that current account surpluses are “unproblematic” provided they are as in Germany’s case the result of “competitiveness of companies in functioning markets” and not supported by subsidies, the German Economy Ministry said today in an e-mailed statement.
  • “Diverse” factors will cause account balance in EU to diminish
  • “There is no weakness in structural investment in Germany”; domestic investment gap emerged since 2011 caused by investor tremors over euro debt crisis and is showing betterment: ministry
  • 40% of German exports rely on intermediate imported goods from
    EU partners, underling the benefits of exports to those partners:
    ministry

Translation: you “investigate” us, and 40% of Europe’s internal exports to Germany get it. Passive-aggressively of course. Oh yeah, and kiss that ECB QE idea goodbye.


    



via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/FZzIxi8igxo/story01.htm Tyler Durden

How to Invest Gold In Your Pension Plan – Part 3

Today’s AM fix was USD 1,276.00, EUR 951.25 and GBP 798.75 per ounce.
Yesterday’s AM fix was USD 1,281.00, EUR 956.90 and GBP 807.03 per ounce.

Gold fell $14.60 or 1.14% yesterday, closing at $1,268.90/oz. Silver slid $0.61 or 2.86% closing at $20.75. Platinum rose $1.16 or 0.1% to $1,429.40/oz, while palladium fell $14.01 or 1.9% to $737.43/oz.

Gold rose slightly after dipping to a four week low in the last trading session.  However, the gold price remains subject to downward pressure as investors are still wondering when the U.S. Fed will begin tapering its stimulus program. December is being muted as a possible tapering start date but as we have seen in recent months, the speculation has been incorrect and QE continued as before.

In other news, Janet Yellen is appearing before  the U.S. Senate banking committee today for her nomination hearing to become the head of the U.S. Federal Reserve and to receive her official licence to print.


Gold in USD, 5 Year – (Bloomberg)

In 1997, the US Tax Payer Relief Act made it possible for precious metals to be added to Individual Retirement Account (IRA) accounts. This includes gold, silver and platinum. An IRA is a form of “individual retirement plan”, provided by many financial institutions, that provides tax advantages for retirement savings in the United States.

A Self-Directed IRA or 401(k) is governed by the same set of Internal Revenue Service (IRS) rules and regulations as a conventional retirement IRA, with the main exception being that conventional IRAs do not allow for diversification into precious metals because of the special circumstances related to ownership: precious metals require professional storage/vaulting, insurance and specialized custodial responsibilities.

The decision to apportion retirement savings into gold and other precious metals is being taken by an increasing number of US citizens who understand that the value of the US dollar is being silently eroded by inflation. Indeed, as we get older, the real rate of inflation is much higher as the key financial outgoings – health insurance, home heating and groceries – are much, much higher than the official rate of inflation.

Self-directed IRAs permit a wide range of gold investments to be included. GoldCore cautions against investing in any paper gold product as it is very different to and more high risk than investing in physical gold. Paper gold includes gold futures, gold futures options, some gold ETFs, certain forms of unallocated gold ownership, pool accounts, contracts for difference (CFDs), spread betting contracts, gold stocks and/or gold options.

Self-directed retirement schemes with a gold and/or precious metals allocation are a powerful retirement planning tool and considering the continuing financial malaise affecting the U.S., they will continue to offer a genuine long-term savings option.

Click here for our guide to Putting Gold In Your Pension Plan in the USA.

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Americans Trust Obama as Much as Republicans on Health Care

For the first time since the
Quinnipiac poll
began asking the question, Americans are
equally likely to trust Obama as Congressional Republicans with
handling health care policy (42 to 43 percent respectively. In
fact, just a few weeks ago, President Obama enjoyed a 9-point
advantage over his GOP colleagues (47 to 38 percent) for handling
health care.

A plurality of young Americans 18-29, a key Obama constituency,
were actually slightly more likely to trust Republicans in Congress
than Obama on health care by a margin of 46 to 41 percent). A
plurality of independents also favored the Congressional GOP over
Obama by a margin of 47 to 32 percent.  A slim plurality of
Latinos favored Obama to Republicans on health care 49 to 41,
compared to Caucasians who favored Republicans (50 to 34 percent)
and African-Americans who favored Obama (78 to 13 percent). Despite
the so-called Republican War on Women, Obama only retains a 2-point
advantage among women (44 to 42 percent), while men favor
Republicans (44 to 39 percent).

Obama’s slipping advantage is particularly surprising given the
president’s previous upper hand on an
issue traditionally owned
by Democrats. Not only that, but
Republican
favorability sank to record lows
just a few weeks ago during
the government shutdown.  

However, once public debate over the government shutdown
settled, attention focused on the messy and glitch-laden launch of
the Affordable Care Act’s health insurance exchange websites. The
websites managed to only sign up
6 enrollees
in the first day. Thus far the Wall Street
Journal

reports
that only about 100,000 Americans have enrolled in
federal and state run exchanges, falling about 80 percent short of
the 500,000 enrollments the
administration’s models had predicted
.

Reports of insurers cancelling millions of Americans’ health
insurance policies despite President Obama’s repeated
promises
that “if you like your health care plan, you can keep
your health care plan” have further disillusioned the public.

Quinnipiac also
found
that only 36 percent of Americans approve of President
Obama’s handling of health care, independent of a comparison,
compared to 43 percent in October.

Amidst the government shut down just a few weeks ago, few would
have guessed the public would trust the Republicans on major
issues, let alone health care. However, the roll out of President
Obama’s signature health care law has proven a difficult and
uncertain process. Even before the shutdown
62 percent of Americans
thought implementation of the ACA was
not going well.

Perhaps the last few months have further demonstrated why it is
not often that federal government can be trusted to do things
well.

from Hit & Run http://reason.com/blog/2013/11/13/americans-trust-obama-as-much-as-republi
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Euro Tumbles After ECB Hints At QE

Despite the ECB’s recent “stunning” rate cut, which sent the EUR modestly lower by a few hundred pips, the resultant resurge in the European currency has left the European Central Bank even more stunned: just what does it have to do to force its currency lower and boost Europe’s peripheral economies, especially in a world in which every other major central banks is printing boatloads of money each and every month.

We hinted at precisely what the next steps will be two days ago when in “Next From The ECB: Here Comes QE, According To BNP” we said “BNP is ultimately correct as the European experiment will require every weapon in the ECB’s arsenal, and sooner or later the ECB, too, will succumb to the same monetary lunacy that has gripped the rest of the developed world in the ongoing “all in” bet to reflate or bust. All logical arguments that outright monetization of bonds are prohibited by various European charters will be ignored: after all, there is “political capital” at stake, and as Mario Draghi has made it clear there is no “Plan B.” Which means the only question is when will Europe join the lunaprint asylum: for the sake of the systemic reset we hope the answer is sooner rather than later.” Two days later, the answer just appeared when moments ago the WSJ reported that the ECB hinted more QE is, as we predicted, on the table.

From the WSJ:

The European Central Bank could adopt negative interest rates or purchase assets from banks if needed to lift inflation closer to its target, a top ECB official said, rebutting concerns that the central bank is running out of tools or is unwilling to use them.

 

“If our mandate is at risk we are going to take all the measures that we think we should take to fulfill that mandate. That’s a very clear signal,” ECB executive board member Peter Praet said in an interview Tuesday with The Wall Street Journal. Annual inflation in the euro zone slowed to 0.7% in October, far below the central bank’s target of just below 2% over the medium term.

 

He didn’t rule out what some analysts see as the strongest, and most controversial, option: purchases of assets from banks to reduce borrowing costs in the private sector. “The balance-sheet capacity of the central bank can also be used,” said Mr. Praet, whose views carry added weight as he also heads the ECB’s powerful economics division. “This includes outright purchases that any central bank can do.”

 

The ECB could do more if necessary, Mr. Praet said. “On standard measures, interest rates, we still have room and that would also include the deposit facility,” he said. The central bank’s deposit rate has been set at zero for several months. Making it negative would effectively levy a fee on commercial banks that park funds at the ECB.

 

The ECB purchased safe bank bonds and government bonds at the height of the global financial crisis and the euro debt crisis, but in small amounts compared with other major central banks.

Of course, there are some legal hurdles:

The ECB’s charter forbids it from financing governments.

But, wily as always, the ECB appears to have found a loophole:

The ECB must respect its legal constraints, Mr. Praet said, however its rules “do not exclude that you intervene in the markets outright.”

And sure enough, the Euro tumbles just as mandated by the ECB’s talking head: let’s see if it actually stays lower this time.

And now check to the Germans, who will be positively giddy that first Europe accused it of unfair export-led growth, and now the ECB is openly contemplating tearing off the Weimar scab.

Looks like things in Europe are about to get exciting all over again.


    



via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/qW4crUgb6Ig/story01.htm Tyler Durden