HARDBALL
Give me control of a nation’s money and I care not who makes its laws. -- Mayer Amschel Bauer Rothschild |
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MUST-BUY/READ BOOKS
March
1. Dr. T.D Singh
God is A Person – Reflections of Two Nobel Laureates, Charles H . Townes & William D. Phillips
(FF: When my daughter came back from her Odissi dance tour in India, she gave me this book for my 60th birthday. What a thoughtful gift! The majority of the public have a warped sense that scientists are generally anti-religion. It is heartening to read that two Nobel Laureates have put to rest this ridiculous notion. Charles Townes is the inventor of maser and laser and in 2005 won the Templeton Prize and has devoted a large part of his life to promote the convergence of science and religion. Prof William Phillips pioneered laser cooling of atoms and paved the way for scientists to create Bose-Einstein condensation and the atomic clocks, without which Global Positioning System (GPS) would not be possible.
Charles Townes has this to say about God: “God is very personal. He has very personal interactions with us. I think there is continuous interaction between God and this universe, especially with us personally. That is very important to our lives… I believe that and I feel it.”
Prof. William Phillips shares similar sentiments – “I think God wants from us is to have a personal relationship with Him and to have good personal relationships with each other. That is why we are here. The relationship God wants us to have with him is a kind of model… It models for us the kinds of relationships we ought to have with each other.
When I read these words, I was more than inspired. There are so many incredible insights by these two scientific giants in this remarkable book. If only the so-called experts in religion have the humility and understanding of God as shown by the Nobel Laureates, the world would be more peaceful and harmonious. Champions of various faiths, instead of cultivating empathy and understanding, have been sowing discords and hate. It behoves these extremists to read this book so that they may be true to God.
I have read this book three times and I cannot wait for another moment of free time to read it once more. It has given me a new perspective as to how we should conduct ourselves in relation to God and to our neighbours. Get this book now. Contact Bhaktivedanta Institute, Kolkata – Tel/Fax 91-33-2500-9018: 2500-6091
January / February
1. Federick J. Sheehan
Panderer To Power
(FF: In 2007/2008, the Global Financial Tsunami almost collapsed the global financial system. We have yet to recover from that turmoil. The 2nd wave of financial destruction is about to begin. While many writers have pin-pointed the key global banks as the culprits, headed by Goldman Sachs, few have dared identify specific individuals responsible for the financial fiasco. Mr. Sheehan’s immaculate research have established an iron-clad case that Alan Greenspan was one of the key players that nurtured and promoted the various scams that have destroyed the livelihood of millions across the globe.
The mass media promoted Alan Greenspan as a financial genius, but this remarkable book tells a different story. In simple language, Alan Greenspan has been exposed as a scam artist, manipulator, charlatan and as the title of the book suggest, a panderer to power. Bernanke is following Alan Greenspan’s footsteps and we hope that Mr Sheehan will also expose this latter day panderer to power. This is a must read, and will be a classic.
Please read also Greenspan Bubbles which the above author co-wrote with William A. Fleckenstein which was reviewed in 2008. See archives.
2. Jocelyn Hurndall
Defy The Stars
(FF: Having just got back from Gaza and experienced first hand the devastation and cruelty suffered by the Palestinians at the hands of Israel’s war criminals, reading the story of a 21-year old student shot in the head by an Israeli sniper while trying to help a Palestinian child and died nine months later, aroused extreme anger in me. Tom Hurndall was unarmed, yet he was gunned down mercilessly.
The war criminals denied the crime, but the persistent efforts for justice by Tom’s Mother, the author, ensured that Tom did not die in vain. Finally, Israel admitted its culpability. This is a story of the courage of a young man making the ultimate sacrifice, a family’s determination to see that justice is done and the brutality of the Israeli regime. A story told with dignity and compassion. It is also a story about the Palestinians in Gaza, of all the mothers who have lost their sons in sixty years of occupation. Be prepared to stay up all night when you pick up this book.
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"One who breaks an unjust law must do so openly, lovingly, and with a willingness to accept the penalty. I submit that an individual who breaks a law that conscience tells him is unjust and who willingly accepts the penalty of imprisonment in order to arouse the conscience of the community over its injustice, is in reality expressing the highest respect for law."
- Martin Luther King
Conspiracy Theory or Reality?
"Since I entered politics, I have chiefly had men's views confided to me privately. Some of the biggest men in the United States, in the field of commerce and manufacture, are afraid of somebody, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they had better not speak above their breath when they speak in condemnation of it."
- President Woodrow Wilson, 28th President of the United States
MUST-READ ARTICLES
Views, Without Fear or Favour
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Ambrose Evans-Richards
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Sunday, 07 February 2010 12:27 |
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The Telegraph, UK
The Greek debt crisis has spread to Spain and Portugal in a dangerous escalation as global markets test whether Europe is willing to shore up monetary union with muscle rather than mere words.
Julian Callow from Barclays Capital said the EU may to need to invoke emergency treaty powers under Article 122 to halt the contagion, issuing an EU guarantee for Greek debt. “If not contained, this could result in a `Lehman-style’ tsunami spreading across much of the EU.”
Credit default swaps (CDS) measuring bankruptcy risk on Portuguese debt surged 28 basis points on Thursday to a record 222 on reports that Jose Socrates was about to resign as prime minister after failing to secure enough votes in parliament to carry out austerity measures.
Parliament minister Jorge Lacao said the political dispute has raised fears that the country is no longer governable. “What is at stake is the credibility of the Portuguese state,” he said.
Portugal has been in political crisis since the Maoist-Trotskyist Bloco won 10pc of the vote last year. This is rapidly turning into a market crisis as well as investors digest a revised budget deficit of 9.3pc of GDP for 2009, much higher than thought. A €500m debt auction failed on Wednesday. The yield spread on 10-year Portuguese bonds has risen to 155 basis points over German bunds.
Daniel Gross from the Centre for European Policy Studies said Portgual and Greece need to cut consumption by 10pc to clean house, but such draconian measures risk street protests. “This is what is making the markets so nervous,” he said.
In Spain, default insurance surged 16 basis points after Nobel economist Paul Krugman said that “the biggest trouble spot isn’t Greece, it’s Spain”. He blamed EMU’s one-size-fits-all monetary system, which has left the country with no defence against an adverse shock. The Madrid’s IBEX index fell 6pc.
Finance minister Elena Salgado said Professor Krugman did not “understand” the eurozone, but reserved her full wrath for the EU economics commissioner, Joaquin Almunia, who helped trigger the panic flight from Iberian debt by blurting out that Spain and Portugal were in much the same mess as Greece.
Mrs Salgado called the comparison simplistic and imprudent. “In Spain we have time for measures to overcome the crisis,” she said. It is precisely this assumption that is now in doubt. The budget deficit exploded to 11.4pc last year, yet the economy is still contracting.
Jacques Cailloux, Europe economist at RBS, said markets want the EU to spell out exactly how it is going to shore up Club Med states. “They are working on a different time-horizon from the EU. They don’t think words are enough: they want action now. They are basically testing the solidarity of monetary union. That is why contagion risk is growing,” he said.
“In my view they underestimate the political cohesion of the EMU Project. What the Commission did this week in calling for surveillance of Greece has never been done before,” he said.
Mr Callow of Barclays said EU leaders will come to the rescue in the end, but Germany has yet to blink in this game of “brinkmanship”. The core issue is that EMU’s credit bubble has left southern Europe with huge foreign liabilities: Spain at 91pc of GDP (€950bn); Portugal 108pc (€177bn). This compares with 87pc for Greece (€208bn). By this gauge, Iberian imbalances are worse than those of Greece, and the sums are far greater. The danger is that foreign creditors will cut off funding, setting off an internal EMU version of the Asian financial crisis in 1998.
Jean-Claude Trichet, head of the European Central Bank, gave no hint yesterday that Frankfurt will bend to help these countries, either through loans or a more subtle form of bail-out through looser monetary policy or lax rules on collateral. The ultra-hawkish ECB has instead let the M3 money supply contract over recent months.
Mr Trichet said euro members drew down their benefits in advance -- "ex ante" -- when they joined EMU and enjoyed "very easy financing" for their current account deficits. They cannot expect "ex post" help if they get into trouble later. These are the rules of the club.
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Jerusalem Post (Middle East News)
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