HARDBALL
Whoever controls the volume of money in any country is absolute master of all industry and commerce.
- President James A. Garfield |
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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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Kevin Hamlin
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Tuesday, 09 March 2010 07:39 |
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By Kevin Hamlin - Bloomberg News
Chinese central bank governor Zhou Xiaochuan said the nation should be careful in exiting anti-crisis policies, suggesting that the government may not let the yuan appreciate soon against the dollar.
“We must be very cautious about the timing of normalizing the policies, and this includes the renminbi rate policy,” Zhou said at a press briefing in Beijing today, using another term for the Chinese currency. A global recovery “isn’t solid,” he said.
Premier Wen Jiabao yesterday pledged a moderately loose monetary stance and a ‘basically stable’’ yuan even after the world’s third-biggest economy expanded 10.7 percent in the fourth quarter. The government is already winding back credit growth as it balances the threat from inflation against the risk that weak recoveries in the U.S. and Europe will cap export demand.
“They’re afraid of applying the brakes too drastically,” said David Cohen, an economist with Action Economics in Singapore. “China needs higher growth than just about anywhere else to sustain employment and maintain social stability.”
The central bank has kept the yuan at about 6.8 per dollar since July 2008, aiding exporters and fueling tensions with trading partners. The nation’s package of measures to respond to the global financial crisis included a 4 trillion yuan ($586 billion) stimulus package and the scrapping of quotas limiting bank lending.
Zhou Versus Traders
Zhou’s comments contrast with some traders becoming more bullish on the yuan, as they bet that export gains and climbing prices will overcome vows to maintain a dollar peg.
The premium charged for the right to buy yuan in three months over contracts to sell has more than tripled this year to the most among 44 currency options tracked by Bloomberg. The 2 percentage point difference is the most since China last ended a fixed-exchange rate in July 2005, so-called risk-reversal rates show.
The government is targeting 8 percent economic growth and about 3 percent inflation this year, Wen said yesterday in a speech that’s the equivalent of a U.S. State of the Union address.
It’s too early to say that China’s exports have recovered, Commerce Minister Chen Deming said at today’s briefing after the nation reported increases in December and January shipments from a year earlier.
Trade Surplus
Su Ning, a deputy central bank governor, said separately today that gradual, long-term gains by the currency were in China’s interests and a one-off appreciation wouldn’t eliminate the nation’s trade surplus. Chen said the excess of exports over imports fell 50.2 percent in January and February from a year earlier.
Zhou said that China is reforming its currency in the long term and current policies are short-term adjustments because of the crisis. China will exit its crisis stance “sooner or later,” the central banker said.
Policies must stay flexible because it’s difficult to make accurate economic forecasts at the beginning of the year and balancing growth and inflation concerns is “complicated,” he said.
U.S. President Barack Obama said in a Feb. 9 interview with Bloomberg BusinessWeek that a stronger currency would help China to deal with “a bunch of bubbles” in its “potentially overheating” economy.
IMF’s Verdict
Zhou said today that the International Monetary Fund is the key judge of currency policies and China has taken its views into account. He also said that exchange-rate issues shouldn’t be politicized.
IMF Managing Director Dominique Strauss-Kahn has repeatedly called the yuan “undervalued.”
In a statement before the briefing, the central bank said that it will promote a more diversified international currency system. That’s after Zhou last year urged moves to explore a new global currency to reduce reliance on the dollar.
Chen said that the U.S. shouldn’t blame the Chinese currency for American trade deficits.
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Last Updated ( Tuesday, 09 March 2010 07:55 )
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Jerusalem Post (Middle East News)
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