Citizens Statement Against Planned Violence Against North Indians and Breakdown of Rule of Law
24 October, 2008
We, the citizens of Maharashtra protest against the planned and instigated violence against north Indians in Mumbai, Thane and Kalyan. Neither Mr. Raj Thackrey nor the MNS have actually done any good to the ordinary Maharashtrian Bahujans on whose behalf he is advocating. The major issues of the State and its toilling masses like that of the agrarian crisis, land and homelessness, displacement due to SEZ and other development based projects or mill workers in Mumbai have found any place in his agenda. The violent and dividing politicking will result in far reaching consequences to safety and security of the citizens and the integrity of the nation
Repeated inflammatory public speeches and statements made by Raj Thackeray, is ample proof of his violent and unlawful demeanor and there is no justification for the Democratic Front led by Congress and NCP for being a silent spectator resulting in violation of rule of law and the rights guaranteed under the Indian Constitution.
The state has left the ordinary citizens vulnerable to the attack by a small section of unruly MNS workers.
We assert the diversity of Mumbai and believe that the rule of law has to prevail and Mr. Raj Thackery / MNS should not be allowed to continue with their unruly behaviour holding the entire city in randsom. The State is equally responsible for the breakdown of the constituitional mechanisms and fear that has been installed in the linguistic and regional minority in Mumbai. The violence would not have continued with out the silent support provided by the Chief Minister and the Home Minister.
We also denounce Thackeray’s statement exhorting his party workers to take to violence and arson as peaceful modes of protest like fasting and Dharna are ’ineffective’ and must be given up. We demand immediate action to restore the rule of law and derecognition of MNS as a political party and stringient legal action against Raj Thackrey, implement the recommendation of the SHRC to reinvestigate all the earlier cases against Raj Thackeray and initiate action as per law. We firmly state our disagreement with all those who have silent faith in the segregating vision of Raj Thackeray, but merely condemn his physically brutality.
We request the ordinary, peace loving, non communal and progressive forces in the city to come together and fight the hijacking of the ordinary citizens agenda using violence and vested interests by politicians like Raj Thackeray.
Sincerly yours,
Medha Patkar, NBA, NAPM
Anand Teltumbede, Dalit Activist and Writer
Anand Patwardhan, Film maker
Avinash Mahtekar, Activist Ambedkar Movement
Shyam Sonar and Sudhir dhawale, Republican Panther
Simpreet Singh, Ghar Banao Ghar Bachao Andolan
Madhuri Vairath, GBGB
Mukta Srivastava, NAPM
N.D. Patil, PWP
Urmila Pawar, Dalit Writer and Activist
Feroz Mithiborwala, Awami Bharat Prakash Reddy, CPI Bhalchandra Kango, CPI Hasina Khan, Awaz e Niswan, Forum Against Opression of Women Maju Varghese, YUVA Deepika D’souza, ICHRL Gerson da Cunha, Agni Dolphy Disouza, Bombay Catholic Sabha Damjibhai Gada, NAPM Smita Shah, Editor, Sadbhavna Sadhana Shakil Ahmed, Nirbhay Bano Andolan Mohan Chauhan, Sahar Vikas Manch
Tuesday, October 28, 2008
Thursday, October 23, 2008
Hindu groups linked to terror
Malegaon blast: Three picked up from Indore
Hindu - Indore-Mumbai (PTI):
Three persons from Indore were picked up by Maharashtra police and are being interrogated in Mumbai in connection with the Malegaon bomb blasts amid suspicions that Hindu extremist groups could be involved in the recent explosions ...
Terror charge on Hindu groups kicks up storm NDTV.com
Hindu groups linked to terror, Parliament rocked IBNLive.com
Khabrein.info - Indian Express - NDTV.com
all 13 news articles »
Hindu - Indore-Mumbai (PTI):
Three persons from Indore were picked up by Maharashtra police and are being interrogated in Mumbai in connection with the Malegaon bomb blasts amid suspicions that Hindu extremist groups could be involved in the recent explosions ...
Terror charge on Hindu groups kicks up storm NDTV.com
Hindu groups linked to terror, Parliament rocked IBNLive.com
Khabrein.info - Indian Express - NDTV.com
all 13 news articles »
Monday, October 20, 2008
Sampradaik Rajneeti Virodhi Manch
Seminar
UNITEDLY OPPOSE THE POLITICS OF TERROR & COMMUNAL RIOTS
Venue: Mumbai Marathi Patrakar Sangh, 2nd fl hall, Azad Maidan, CST, Mumbai.
Date : 22/10/08 Time : 5.30 to 8pm
Speakers:
Ajit Sahi: Editor-at-large: Tehelka
Mahesh Bhatt: Film maker and Social activist
Pravin Nadkar: IFTU, President (Maharashtra)
Sanjay Singhvi: CPI-ML, Central Politburo Member
Feroze Mithiborwala: Rashtriya Samaj Paksh, National Vice-President
Avinash Kamble: Vidrohi Sanskrutik Chadwal
Aslam Ghazi: Jamaat-i-Islami, Public Relations Officer (Maharashtra)
Jyoti Punwani: Freelance Journalist
organised by:
Kishore Jagtap, Arun Velaskar, Mulniwasi Mala, Varsha V V, Amol Madame, Chetna Birje, Jyoti Bedekar, Sayeed Khan, Reshma Jagtap, Ravi Joshi, Arif Kapadia, A. H. Faruqi & Jagdish Nagarkar.
Vidyarti Bharti, Awami Bharat, Sadhbhavna Sangh, Indian Social Movement, Samip Pratishthan, TUCI, IFTU, RSP, CPI-ML, Jamaat-i-Islami, Phule-Ambedkari Vichar Manch.
Reject the attempts of communal divisions for vote bank politics and religious jingoism!
Incidents of Bomb blasts and communal riots seem to occur more when the elections are round the corner. The politics of terror is the new political and social challenge of our times. The phenomenon of terrorism has also served to worsen and deepen the communalization of Indian society. These tactics are also used to settle scores between rival politicians belonging to different parties and some times also from the same party. Investigations into many such events have generally revealed this truth.
Recent series of bomb blasts that shook the whole country have once again raised the suspicion that these events are beneficial for further polarization of the voters along the communal lines for the benefit of the various political outfits in different states. Though the media and the state are very vociferous in condemning the supposed Muslim culprits, there seems to be a deliberate silence about the Hindutva extremists indulging in terror activities. We condemn the terrorist methods used by all these extremist forces representing different religions. The fact of the matter is that the very forces that earlier formented communal riots are now the very forces that are at the root of terror attacks. Thus the suspects are the extremists of both the communities as well as the state itself.
Sri Krishna commission report also exposed the biased manner in which the Mumbai police acted during the Mumbai riots of 1992-93. When the state fails to protect certain communities from communal onslaughts and in some cases also resort to violence against them, then these communities often feel justified in responding in kind.
Convert to Hinduism or die is the slogan of Hindutva extremists in Orissa and yet the state has failed in preventing these forces from burning churches, raping women, killing Christians and indulging in worst possible hate crimes. In Dhulia an activist of a newly formed Hindu Raksha Samiti got angry when a boy from the area removed the poster abusing Muslims for terrorism and that was enough reason to ignite a riot. A similar incident about a banner led to a riot in Thane. Timely intervention by the administration in both these cases could have averted these riots. However as the aggressive posture of the Hindu fundamentalist goes unchecked they are able to communalise the sentiments of the majority community more and more successfully. Bomb blast which caused the death of two Barang Dal activists in Nanded in April 2006 as well as in kanpur in August 2008, exposed the Hindutva extremists terror module. But both the state and the media are complicit in this coverup.
Communal politics and hatred of religious minorities seem to bring electoral dividends in the country. This situation needs to be changed. It is therefore necessary to resort to every possible democratic method to oppose these tendencies. Secularism needs to be strengthened to defend the rights of the minorities and thus deepen the roots of democracy. That will further isolate the Muslim extfremists within their community. Secularism is a useful tool for religious people of all communities. This terminology finds acceptance among the many people from all communities because of the vote bank political tactics used by the so called secular parties. A truly secular state should favour no religion and support a movement towards a society free of religious discrimination.
Seminar
UNITEDLY OPPOSE THE POLITICS OF TERROR & COMMUNAL RIOTS
Venue: Mumbai Marathi Patrakar Sangh, 2nd fl hall, Azad Maidan, CST, Mumbai.
Date : 22/10/08 Time : 5.30 to 8pm
Speakers:
Ajit Sahi: Editor-at-large: Tehelka
Mahesh Bhatt: Film maker and Social activist
Pravin Nadkar: IFTU, President (Maharashtra)
Sanjay Singhvi: CPI-ML, Central Politburo Member
Feroze Mithiborwala: Rashtriya Samaj Paksh, National Vice-President
Avinash Kamble: Vidrohi Sanskrutik Chadwal
Aslam Ghazi: Jamaat-i-Islami, Public Relations Officer (Maharashtra)
Jyoti Punwani: Freelance Journalist
organised by:
Kishore Jagtap, Arun Velaskar, Mulniwasi Mala, Varsha V V, Amol Madame, Chetna Birje, Jyoti Bedekar, Sayeed Khan, Reshma Jagtap, Ravi Joshi, Arif Kapadia, A. H. Faruqi & Jagdish Nagarkar.
Vidyarti Bharti, Awami Bharat, Sadhbhavna Sangh, Indian Social Movement, Samip Pratishthan, TUCI, IFTU, RSP, CPI-ML, Jamaat-i-Islami, Phule-Ambedkari Vichar Manch.
Reject the attempts of communal divisions for vote bank politics and religious jingoism!
Incidents of Bomb blasts and communal riots seem to occur more when the elections are round the corner. The politics of terror is the new political and social challenge of our times. The phenomenon of terrorism has also served to worsen and deepen the communalization of Indian society. These tactics are also used to settle scores between rival politicians belonging to different parties and some times also from the same party. Investigations into many such events have generally revealed this truth.
Recent series of bomb blasts that shook the whole country have once again raised the suspicion that these events are beneficial for further polarization of the voters along the communal lines for the benefit of the various political outfits in different states. Though the media and the state are very vociferous in condemning the supposed Muslim culprits, there seems to be a deliberate silence about the Hindutva extremists indulging in terror activities. We condemn the terrorist methods used by all these extremist forces representing different religions. The fact of the matter is that the very forces that earlier formented communal riots are now the very forces that are at the root of terror attacks. Thus the suspects are the extremists of both the communities as well as the state itself.
Sri Krishna commission report also exposed the biased manner in which the Mumbai police acted during the Mumbai riots of 1992-93. When the state fails to protect certain communities from communal onslaughts and in some cases also resort to violence against them, then these communities often feel justified in responding in kind.
Convert to Hinduism or die is the slogan of Hindutva extremists in Orissa and yet the state has failed in preventing these forces from burning churches, raping women, killing Christians and indulging in worst possible hate crimes. In Dhulia an activist of a newly formed Hindu Raksha Samiti got angry when a boy from the area removed the poster abusing Muslims for terrorism and that was enough reason to ignite a riot. A similar incident about a banner led to a riot in Thane. Timely intervention by the administration in both these cases could have averted these riots. However as the aggressive posture of the Hindu fundamentalist goes unchecked they are able to communalise the sentiments of the majority community more and more successfully. Bomb blast which caused the death of two Barang Dal activists in Nanded in April 2006 as well as in kanpur in August 2008, exposed the Hindutva extremists terror module. But both the state and the media are complicit in this coverup.
Communal politics and hatred of religious minorities seem to bring electoral dividends in the country. This situation needs to be changed. It is therefore necessary to resort to every possible democratic method to oppose these tendencies. Secularism needs to be strengthened to defend the rights of the minorities and thus deepen the roots of democracy. That will further isolate the Muslim extfremists within their community. Secularism is a useful tool for religious people of all communities. This terminology finds acceptance among the many people from all communities because of the vote bank political tactics used by the so called secular parties. A truly secular state should favour no religion and support a movement towards a society free of religious discrimination.
Friday, October 17, 2008
A Consceince Encountered
A Consceince Encountered
By Dr Sandeep Pandey
The UP Police in a planned joint operation with the army is likely to kill two Kashmiri youth (obviously Muslim), already picked up and in their custody somewhere in Meerut , in an `encounter' with these `dreaded terrorists.' The drama would be enacted in the Lucknow cantonment area, the most plausible location for an anti-national to be encountered in. Two AK-47 guns, already bought from Nepal and brought through the Bahraich route, would be shown to have been recovered from these `terrorists.'
By Dr Sandeep Pandey
The UP Police in a planned joint operation with the army is likely to kill two Kashmiri youth (obviously Muslim), already picked up and in their custody somewhere in Meerut , in an `encounter' with these `dreaded terrorists.' The drama would be enacted in the Lucknow cantonment area, the most plausible location for an anti-national to be encountered in. Two AK-47 guns, already bought from Nepal and brought through the Bahraich route, would be shown to have been recovered from these `terrorists.'
The Parallel Streams Of Anger
The Parallel Streams Of Anger
By M.J. Akbar
Dr Manmohan Singh said, on his return from France, that incidents in Orissa had shamed India before the world. That is important, but far less important than the fact that the violence in Orissa has shamed Indians in India. I measure what Indians do not by the standards of France, but by the values of modern India, which strengthened the spirit of our freedom movement against western colonialism and were enshrined in that noble document called the Constitution of India. The Bajrang Dal has shamed India before Indians
By M.J. Akbar
Dr Manmohan Singh said, on his return from France, that incidents in Orissa had shamed India before the world. That is important, but far less important than the fact that the violence in Orissa has shamed Indians in India. I measure what Indians do not by the standards of France, but by the values of modern India, which strengthened the spirit of our freedom movement against western colonialism and were enshrined in that noble document called the Constitution of India. The Bajrang Dal has shamed India before Indians
'Dhule riots could have been averted'
http://timesofindia.indiatimes.com/Mumbai/Dhule_riots_could_have_been_averted/articleshow/3600450.cms
http://epaper.hindustantimes.com/artMailDisp.aspx?article=16_10_2008_007_007&typ=1&Archtype=&pub=264
MUMBAI: A fact-finding team, which visited the riot-affected Dhule, has demanded a multi-member judicial probe into the communal clashes that claimed
10 lives and left over 100 injured. The team, headed by activist Medha Patkar, after talking to a cross-section of people in Dhule, concluded that the riots could have been prevented had the local administration removed the inflammatory posters and banners pasted in the town days before the riots broke out on October 5. Addressing mediapersons at the Marathi Patrakar Sangh near CST on Wednesday, J G Khairnar, a member of the fact-finding team and head of Dhule-based NGO Sarva Dharma Sangh, lashed out at Dhule's superintendent of police Sunil Kolhe for not acting in time.
http://epaper.hindustantimes.com/artMailDisp.aspx?article=16_10_2008_007_007&typ=1&Archtype=&pub=264
MUMBAI: A fact-finding team, which visited the riot-affected Dhule, has demanded a multi-member judicial probe into the communal clashes that claimed
10 lives and left over 100 injured. The team, headed by activist Medha Patkar, after talking to a cross-section of people in Dhule, concluded that the riots could have been prevented had the local administration removed the inflammatory posters and banners pasted in the town days before the riots broke out on October 5. Addressing mediapersons at the Marathi Patrakar Sangh near CST on Wednesday, J G Khairnar, a member of the fact-finding team and head of Dhule-based NGO Sarva Dharma Sangh, lashed out at Dhule's superintendent of police Sunil Kolhe for not acting in time.
Monday, October 13, 2008
'सिमी हो या बजरंगदल, प्रतिबंध समाधान नहीं'
Friday, October 10, 2008
CONVENTION AGAINST COMMUNALISM ANDASSAULT ON DEMOCRACY
CONVENTION AGAINST COMMUNALISM ANDASSAULT ON DEMOCRACY
MAVLANKAR AUDITORIUMRAFI MARG,
NEW DELHI-110001OCTOBER 18, 20083.30 PM TO 7PM
It is clear today that our secular and democratic republic faces achallenge regarding its very character. The Bajrang Dal and the VHP,with the open support of the BJP -- and in the states it is rulingwith the help of the state machinery -- have mounted a savage attackon the Christians and Muslims. Tens of thousands are in refugee campsin Orissa and Assam. Churches are being attacked in Karnataka.Communal violence, clashes and hatred between communities are now apreparation for the elections.The secular forces and the civil society need to intervene if we areto resist these attacks. Towards building a broad initiative on thisissue, we are calling for a convention.Convention against Communalism and Assault On Democracy
SPEAKERS
Shri Prakash Karat, General Secretary, CPI(M)Shri A.B. Bardhan, General Secretary, CPIShri Tahir Mehmood, Former Chairman, Minority CommissionArchbishop Vincent ConcecaoShri Mushirul Hasan, Vice Chancellor Jamia Millia Islamia University
Shri H.D. Deve Gowda, President Janata Dal(S)Shri Yerran Naidu, Telegu DesamShri Kuldip Nayyar, Eminent JournalistShri S.P. Shukla, Former Secretary, Ministry of FinanceAnd others.Shrimati Mayavati, Leader of the BSP and Chief Minister of UP is alsobeing requested to speak and we are awaiting her confirmation.
Shri H.D. Deve Gowda, President Janata Dal(S)Shri Yerran Naidu, Telegu DesamShri Kuldip Nayyar, Eminent JournalistShri S.P. Shukla, Former Secretary, Ministry of FinanceAnd others.Shrimati Mayavati, Leader of the BSP and Chief Minister of UP is alsobeing requested to speak and we are awaiting her confirmation.
ORGANIZERS
Seema Mustafa, Anu Chenoy, Kamal Chenoy, SP Shukla, Zafrul Islam Khan, Shahid Siddiqui, John Dayal, Zafar Agha, P.M.S. Grewal, Amarjit Kaur, Valson Thampu, Zakia Jowher, Kamala Bhasin, Asghar Wajahat, Vivan Sundaram, DanishAli ,Vijender Sharma, Bijulal MV, Benny K, Vimalbhai, Dinesh Varsheny, Sagari Chabra, Vincent Manoharan, Sudhir Kumar, SQ Ilyas, MJ Vijayan Sehba Farooqui, Albeena Shakil, Sidheshwar Shukla, Ravindranathan, Rohit, Ginu Zacharia, Shaswati Mazumdar, Kewal Goswami, Rachpal Kaur, Dheerendra, Sharma, Arjumand Ara, Ramanand, S.S. Sisodia, Mahesh Rathi, Jaishree, Prabir Purkayastha and others.
Behind the Panic: Financial Warfare
Behind the Panic: Financial Warfare
over Future of Global Bank Power
F. William EngdahlInfowarsOctober 9, 2008
What is clear from the behavior of European financial markets over the past two weeks is that the dramatic stories of financial meltdown and panic are deliberately being used by certain influential factions in and outside the EU to shape the future face of global banking in the wake of the US sub-prime and Asset-Backed Security (ABS) debacle. The most interesting development in recent days has been the unified and strong position of the German Chancellor, Finance Minister, Bundesbank and coalition Government, all opposing an American-style EU Superfund bank bailout.
The process of using panics to centralize their private power created an extremely powerful, concentration of financial and economic power in a few private hands, the same hands which created the influential US foreign policy think-tank, the New York Council on Foreign Relations in 1919 to guide the ascent of the American Century, as Time founder Henry Luce called it in a pivotal 1941 essay.
Stock market falls of 7 to 10% a day make for dramatic news headlines and serve to foster a broad sense of unease bordering on panic among ordinary citizens. The events of the last two weeks among EU banks since the dramatic state rescues of Hypo Real Estate, Dexia and Fortis banks, and the announcement by UK Chancellor of the Exchequer, Alistair Darling of a radical shift in policy in dealing with troubled UK banks, have begun to reveal the outline of a distinctly different European response to what in effect is a crisis 'Made in USA.'
As I suggested in my previous piece here, Spezi-Kapitalismus in den USA: Paulsons Panikmache sieht immer mehr nach Berechnung aus, there is serious ground to believe that US Goldman Sachs ex CEO Henry Paulson, as Treasury Secretary, is not stupid and is actually moving according to a well-thought-out long-term strategy. Events as they are now unfolding in the EU confirm that. As one senior European banker put it to me in private discussion, 'There is an all-out war going on between the United States and the EU to define the future face of European banking.'
In this banker's view, the ongoing attempt of Italian Prime Minister Silvio Berlusconi and France's Nicholas Sarkosy to get an EU common 'fund', with perhaps upwards of $300 billion to rescue troubled banks, would de facto play directly into Paulson and the US establishment's long-term strategy, by in effect weakening the banks and repaying US-originated Asset Backed Securities held by EU banks.
Using panic to centralize power
As I document in my forthcoming book, Power of Money: The Rise and Decline of the American Century,
in every major US financial panic since at least the Panic of 1835, the titans of Wall Street—most especially until 1929 the House of JP Morgan—have deliberately triggered bank panics in order to consolidate their grip on US banking. The private banks used the panics to control Washington policy including the exact definition of the private ownership of the new Federal Reserve in 1913, and to consolidate their control over industry such as US Steel, Caterpillar, Westinghouse and the like. They are, in short, old hands at such financial warfare to increase their power. Now they must do something similar on a global scale to be able to continue to dominate global finance, the heart of the power of the American Century.
That process of using panics to centralize their private power created an extremely powerful, concentration of financial and economic power in a few private hands, the same hands which created the influential US foreign policy think-tank, the New York Council on Foreign Relations in 1919 to guide the ascent of the American Century, as Time founder Henry Luce called it in a pivotal 1941 essay.
It is becoming increasingly obvious that people like Henry Paulson, who by the way was one of the most aggressive practitioners of the ABS revolution on Wall Street before becoming Treasury Secretary, are operating on motives beyond their over-proportional sense of greed. They, as did Fed Chairman Greenspan, had a strategy. Knowing that at a certain juncture the pyramid of trillions of dollars of dubious sub-prime and other high risk home mortgage-based securities would come falling down, they apparently determined to spread the so-called 'toxic waste' ABS securities as globally as possible in order to seduce the big global banks of the world, most especially of the EU into their honey trap.
It worked…up to a point. That point came over the weekend of October 3, coincidentally the national unification holiday of Germany.
Germany breaks with US model
In closed door talks well into the evening of Sunday October 5, Alex Weber the hard-nosed head of the Bundesbank, BaFin head Jochen Sanio and representatives of the Berlin coalition Government of Chancellor Merkel came up with a rescue package for Hypo Real Estate of a nominal €50 billion. However, behind the dramatic headline number, as Weber pointed out in a September 29 letter to Finance Minister Peer Steinbrück that has been made public, not only did the private German banks have to come up with 60% of that figure, the state with 40%. But also, given the careful manner in which the Government in cooperation with the Bundesbank and BaFin, structured the rescue credit agreement, the maximum possible loss, in a worst case scenario, to the state would be limited to €5.7 billion, not €30 billion as many believed. It's still real money but not the blank check for $700 billion that a US Congress under duress and a few days of falling stock market prices agreed to give Paulson.
The swift action by Finance Minister Steinbrück to fire the head of HRE, in stark contrast to Wall Street where the same criminal fraudsters remain at their desks reaping huge bonuses, indicates as well a different approach. But that does not cut to the heart of the issue. The situation of HRE arose as noted previously, from excesses in a wholly-owned daughter bank of HRE subsidiary DEPFA in Ireland, an EU country known for its liberal loose regulation and low tax regime.
A British policy shift
In the UK, after the costly and foolish bailout of Northern Rock earlier in the year, the Government of Prime Minister Gordon Brown has just announced a dramatic change in policy in the direction of Germany's position. Britain's banks will get an unprecedented 50 billion-pound (€64 billion) government lifeline and emergency loans from the Bank of England.
The government will buy preference shares from Royal Bank of Scotland Group Plc, Barclays Plc and at least six other banks, and provide about 250 billion pounds of loan guarantees to refinance debt, the Treasury said. The Bank of England will make at least 200 billion pounds available. The plan doesn't specify how much each bank will get.
That means the UK Government will at least partially nationalize its most important international banks, rather than buy their bad loans as under the unworkable Paulson plan. Under such an approach, costs to UK taxpayers once the crisis abates and business returns to more normal conditions, the Government can sell the state shares back to a healthy bank at perhaps a nice profit to the Treasury. The Brown Government has apparently realized that the blanket guarantees it gave to Northern Rock and Bradford & Bingley merely opened the floodgates of government costs without changing the problem.
The new nationalization policy is a dramatic contrast to the Paulson ideological 'free market' approach of buying the worthless bonds held by the select banks Paulson chooses to save, rather than recapitalize those banks to allow them to continue to function.
The battle lines drawn
What has emerged are the outlines of two opposite approaches to the unfolding crisis. The Paulson plan, as we noted in our previous article, is part of a project to create three colossal global financial giants—Citigroup, JP MorganChase and, of course, Paulson's own Goldman Sachs. Having successfully used fear and panic to wrestle a $700 billion bailout from the US taxpayers, now the big three will try to use their unprecedented muscle to ravage European banks in the years ahead.
By agreeing on a strategy of nationalizing what EU finance ministers deem are 'EU banks too systemically strategic to fail,' while guaranteeing bank deposits, the EU governments have opted for what will in the longer run allow European banking giants to withstand the anticipated financial attacks from the likes of Goldman or Citigroup.
The dramatic selloff of stocks across European bourses and across Asia is in reality a secondary and far less critical issue. According to market reports, the selloff is being driven by mainly US hedge funds desperate to raise cash as they realize the US economy is going into economic depression and that the Paulson Plan does nothing to address that.
A functioning solvent banking and interbank system is far the more strategic issue. The ABS debacle was 'Made in New York.' Nonetheless, its effects have to be isolated and viable EU banks defended in the public interest, not just the interest of Paulson's banking pals as in the US. The coordinated interest rate cut by the ECB and other European central banks while grabbing headlines, in effect do little to address the real problem: banks fear to lend to each other until their solvency is assured.
By initiating state partial nationalizations across the EU, and rejecting the Berlusconi/Sarkozy bailout scheme, the governments of the EU, interestingly led by the German, are laying a far more sound foundation to emerge from the crisis. Stay tuned, it's far from over. Asian banks, badly burned by Wall Street's manipulated 1997-98 Asia Crisis, are very little exposed to the US problem. European banks are exposed in different ways, but none so serious as in the US banking world.
over Future of Global Bank Power
F. William EngdahlInfowarsOctober 9, 2008
What is clear from the behavior of European financial markets over the past two weeks is that the dramatic stories of financial meltdown and panic are deliberately being used by certain influential factions in and outside the EU to shape the future face of global banking in the wake of the US sub-prime and Asset-Backed Security (ABS) debacle. The most interesting development in recent days has been the unified and strong position of the German Chancellor, Finance Minister, Bundesbank and coalition Government, all opposing an American-style EU Superfund bank bailout.
The process of using panics to centralize their private power created an extremely powerful, concentration of financial and economic power in a few private hands, the same hands which created the influential US foreign policy think-tank, the New York Council on Foreign Relations in 1919 to guide the ascent of the American Century, as Time founder Henry Luce called it in a pivotal 1941 essay.
Stock market falls of 7 to 10% a day make for dramatic news headlines and serve to foster a broad sense of unease bordering on panic among ordinary citizens. The events of the last two weeks among EU banks since the dramatic state rescues of Hypo Real Estate, Dexia and Fortis banks, and the announcement by UK Chancellor of the Exchequer, Alistair Darling of a radical shift in policy in dealing with troubled UK banks, have begun to reveal the outline of a distinctly different European response to what in effect is a crisis 'Made in USA.'
As I suggested in my previous piece here, Spezi-Kapitalismus in den USA: Paulsons Panikmache sieht immer mehr nach Berechnung aus, there is serious ground to believe that US Goldman Sachs ex CEO Henry Paulson, as Treasury Secretary, is not stupid and is actually moving according to a well-thought-out long-term strategy. Events as they are now unfolding in the EU confirm that. As one senior European banker put it to me in private discussion, 'There is an all-out war going on between the United States and the EU to define the future face of European banking.'
In this banker's view, the ongoing attempt of Italian Prime Minister Silvio Berlusconi and France's Nicholas Sarkosy to get an EU common 'fund', with perhaps upwards of $300 billion to rescue troubled banks, would de facto play directly into Paulson and the US establishment's long-term strategy, by in effect weakening the banks and repaying US-originated Asset Backed Securities held by EU banks.
Using panic to centralize power
As I document in my forthcoming book, Power of Money: The Rise and Decline of the American Century,
in every major US financial panic since at least the Panic of 1835, the titans of Wall Street—most especially until 1929 the House of JP Morgan—have deliberately triggered bank panics in order to consolidate their grip on US banking. The private banks used the panics to control Washington policy including the exact definition of the private ownership of the new Federal Reserve in 1913, and to consolidate their control over industry such as US Steel, Caterpillar, Westinghouse and the like. They are, in short, old hands at such financial warfare to increase their power. Now they must do something similar on a global scale to be able to continue to dominate global finance, the heart of the power of the American Century.
That process of using panics to centralize their private power created an extremely powerful, concentration of financial and economic power in a few private hands, the same hands which created the influential US foreign policy think-tank, the New York Council on Foreign Relations in 1919 to guide the ascent of the American Century, as Time founder Henry Luce called it in a pivotal 1941 essay.
It is becoming increasingly obvious that people like Henry Paulson, who by the way was one of the most aggressive practitioners of the ABS revolution on Wall Street before becoming Treasury Secretary, are operating on motives beyond their over-proportional sense of greed. They, as did Fed Chairman Greenspan, had a strategy. Knowing that at a certain juncture the pyramid of trillions of dollars of dubious sub-prime and other high risk home mortgage-based securities would come falling down, they apparently determined to spread the so-called 'toxic waste' ABS securities as globally as possible in order to seduce the big global banks of the world, most especially of the EU into their honey trap.
It worked…up to a point. That point came over the weekend of October 3, coincidentally the national unification holiday of Germany.
Germany breaks with US model
In closed door talks well into the evening of Sunday October 5, Alex Weber the hard-nosed head of the Bundesbank, BaFin head Jochen Sanio and representatives of the Berlin coalition Government of Chancellor Merkel came up with a rescue package for Hypo Real Estate of a nominal €50 billion. However, behind the dramatic headline number, as Weber pointed out in a September 29 letter to Finance Minister Peer Steinbrück that has been made public, not only did the private German banks have to come up with 60% of that figure, the state with 40%. But also, given the careful manner in which the Government in cooperation with the Bundesbank and BaFin, structured the rescue credit agreement, the maximum possible loss, in a worst case scenario, to the state would be limited to €5.7 billion, not €30 billion as many believed. It's still real money but not the blank check for $700 billion that a US Congress under duress and a few days of falling stock market prices agreed to give Paulson.
The swift action by Finance Minister Steinbrück to fire the head of HRE, in stark contrast to Wall Street where the same criminal fraudsters remain at their desks reaping huge bonuses, indicates as well a different approach. But that does not cut to the heart of the issue. The situation of HRE arose as noted previously, from excesses in a wholly-owned daughter bank of HRE subsidiary DEPFA in Ireland, an EU country known for its liberal loose regulation and low tax regime.
A British policy shift
In the UK, after the costly and foolish bailout of Northern Rock earlier in the year, the Government of Prime Minister Gordon Brown has just announced a dramatic change in policy in the direction of Germany's position. Britain's banks will get an unprecedented 50 billion-pound (€64 billion) government lifeline and emergency loans from the Bank of England.
The government will buy preference shares from Royal Bank of Scotland Group Plc, Barclays Plc and at least six other banks, and provide about 250 billion pounds of loan guarantees to refinance debt, the Treasury said. The Bank of England will make at least 200 billion pounds available. The plan doesn't specify how much each bank will get.
That means the UK Government will at least partially nationalize its most important international banks, rather than buy their bad loans as under the unworkable Paulson plan. Under such an approach, costs to UK taxpayers once the crisis abates and business returns to more normal conditions, the Government can sell the state shares back to a healthy bank at perhaps a nice profit to the Treasury. The Brown Government has apparently realized that the blanket guarantees it gave to Northern Rock and Bradford & Bingley merely opened the floodgates of government costs without changing the problem.
The new nationalization policy is a dramatic contrast to the Paulson ideological 'free market' approach of buying the worthless bonds held by the select banks Paulson chooses to save, rather than recapitalize those banks to allow them to continue to function.
The battle lines drawn
What has emerged are the outlines of two opposite approaches to the unfolding crisis. The Paulson plan, as we noted in our previous article, is part of a project to create three colossal global financial giants—Citigroup, JP MorganChase and, of course, Paulson's own Goldman Sachs. Having successfully used fear and panic to wrestle a $700 billion bailout from the US taxpayers, now the big three will try to use their unprecedented muscle to ravage European banks in the years ahead.
By agreeing on a strategy of nationalizing what EU finance ministers deem are 'EU banks too systemically strategic to fail,' while guaranteeing bank deposits, the EU governments have opted for what will in the longer run allow European banking giants to withstand the anticipated financial attacks from the likes of Goldman or Citigroup.
The dramatic selloff of stocks across European bourses and across Asia is in reality a secondary and far less critical issue. According to market reports, the selloff is being driven by mainly US hedge funds desperate to raise cash as they realize the US economy is going into economic depression and that the Paulson Plan does nothing to address that.
A functioning solvent banking and interbank system is far the more strategic issue. The ABS debacle was 'Made in New York.' Nonetheless, its effects have to be isolated and viable EU banks defended in the public interest, not just the interest of Paulson's banking pals as in the US. The coordinated interest rate cut by the ECB and other European central banks while grabbing headlines, in effect do little to address the real problem: banks fear to lend to each other until their solvency is assured.
By initiating state partial nationalizations across the EU, and rejecting the Berlusconi/Sarkozy bailout scheme, the governments of the EU, interestingly led by the German, are laying a far more sound foundation to emerge from the crisis. Stay tuned, it's far from over. Asian banks, badly burned by Wall Street's manipulated 1997-98 Asia Crisis, are very little exposed to the US problem. European banks are exposed in different ways, but none so serious as in the US banking world.
Thursday, October 9, 2008
Editorial from The Hindu
Unabated tensions
The deplorable incidents of arson and killing in Udalguri district of the Bodoland Territorial Council (BTC) and the adjacent Darrang district over the past week, in which more than 40 people have died, follow a pattern of violence and massive ...
The deplorable incidents of arson and killing in Udalguri district of the Bodoland Territorial Council (BTC) and the adjacent Darrang district over the past week, in which more than 40 people have died, follow a pattern of violence and massive ...
Alienation Of Indian Muslims
Alienation Of Indian Muslims
By Mushirul Hasan
The extent to which the Indian society is getting polarised along religious lines is very disturbing. If this is the state of affairs almost seven decades after independence, what might happen a few decades later? This is not the time to attribute responsibility to different parties or communities. This is a moment for self-reflection and for finding out what gives rise to this mindless violence......
By Mushirul Hasan
The extent to which the Indian society is getting polarised along religious lines is very disturbing. If this is the state of affairs almost seven decades after independence, what might happen a few decades later? This is not the time to attribute responsibility to different parties or communities. This is a moment for self-reflection and for finding out what gives rise to this mindless violence......
Communal Violence in Dhule
Large scale rioting in Dhule, mosques burnt, houses looted ...
Dhule (Maharashtra): Six people have been killed so far in the communal riot that erupted on Sunday (Oct. 5) in Dhule town in Maharashtra and 86 injured ...
Deploy para-miltary to stop violence in Dhule: Gorhe
Dhule, Oct 8: Shiv Sena leader Neelam Gorhe has demanded deployment of para- military forces or Army to quell the violence in this North Maharashtra riot-hit ...
Dhule (Maharashtra): Six people have been killed so far in the communal riot that erupted on Sunday (Oct. 5) in Dhule town in Maharashtra and 86 injured ...
Deploy para-miltary to stop violence in Dhule: Gorhe
Dhule, Oct 8: Shiv Sena leader Neelam Gorhe has demanded deployment of para- military forces or Army to quell the violence in this North Maharashtra riot-hit ...
Dhule smoulders due to communal strife
Dhule smoulders due to communal strife
NDTV.com, India - 42 minutes agoFive days after tension gripped the north Maharashtra town of Dhule, the situation is still tense. Isolated instances of arson and looting continue even as ...
NDTV.com, India - 42 minutes agoFive days after tension gripped the north Maharashtra town of Dhule, the situation is still tense. Isolated instances of arson and looting continue even as ...
Wednesday, October 8, 2008
Sunday, October 5, 2008
ईश्वर के नाम पर
उड़ीसा में बेहद गरीबी के मारों को पढ़ाए जा रहे धार्मिक पाठों के कैसे-कैसे दुष्परिणाम सामने आ रहे हैं, जानने का प्रयास कर रहे हैं, विजय सिम्हा....
Full story
PRESS RELEASE
DEMONSTRATION AGAINST INDO-US NUCLEAR DEAL
AT CHURCHGATE STN. (E), MUMBAI, 4th OCT, 4.30pm"
ONE ASIA - UNITED ASIA"
"CONDOLEEZA RICE - GO BACK"
"WE OPPOSE THE 123 AGREEMENT & HYDE ACT"
"DEAL IS THREAT TO INDIA'S SOVEREIGNTY & AN INDEPENDENT FOREIGN POLICY"
"UNITE IN THE NATIONAL & GLOBAL STRUGGLE AGAINST AMERICAN IMPERIALISM"
IT HAS ALWAYS BEEN CONSISTENTLY MAINTAINED BY THE POLITICAL PARTIES AND SOCIAL ORGANIZATIONS AND MASS MOVEMENTS OPPOSED TO THE INDO-US NUCLEAR DEAL THAT, THE BASIS ON WHICH THE CONGRESS LED UPA GOVERNMENT IS SIGNING THE INDO-US NUCLEAR DEAL WILL EFFECTIVELY CONVERT INDIA INTO A JUNIOR PARTNER OF THE US STRATEGIC ORBIT. AN HONEST ANALYSIS OF THE 123 AGREEMENTS AND THE HYDE ACT WILL PROVE THAT THEY ARE A GROSS INFRINGEMENT ON THE VERY SOVEREIGNTY OF OUR NATION & WILL HAVE ADVERSE CONSEQUENCES IN THE VERY NEAR FUTURE. MOREOEVER THIS IS SOON TO BE FOLLOWED BY VARIOUS STRATEGIC AGREEMENTS LIKE THE LOGISTICS & SUPPORT AGREEMENT THAT WILL AT A POINT, COMPELL INDIA TO SIDE & SUPPORT THE USA IN ITS AGENDA TO WAGE WARS FOR GLOBAL HEGEMONY AND CONTROL OVER THE RESOURCES OF THE THIRD WORLD, ESPECIALLY IN ASIA.
BUSH HAS CLEARLY STATED THAT THE 123 WAS MERELY A FRAMEWORK & WAS NOT LEGALLY BINDING ON THE US & THAT THERE WAS A CLEAR DICTAT ON FURTHER TESTING ON INDIA AS WELL AS THAT THERE WERE NO GUARANTEES OF CONTINUOUS NUCLEAR SUPPLY & EVEN THAT THE USA ITSELF WOULD THEN LOBBY WITH THE OTHER NSG COUNTRIES TO BREAK OF CO-OPERATION WITH INDIA. THERE HAVE BEEN UNAMIBUOUS STATEMENTS ESPECIALLY FROM CONDOLEEZA RICE ABOUT THE ABOVE REFERRED ISSUES TIME & AGAIN, BUT BOTH THE GOI & OUR MEDIA HAS EITHER CHOSEN TO IGNORE OR THEN TO TOTALLY DISTORT THE TRUTH BY FALSIFYING THE FACTS REGARDING US INTENTIONS OF ENTRAPPING INDIA & THUS CAUSE FOR GRAVE CONCERN.
ALSO THE FACT LIES THAT THE GOVERNMENT IS ALIGNING WITH A COUNTRY THAT IS A POWER ON THE DECLINE. THE US AS THE SOLE SUPERPOWER IS PASSE, AS IS EVIDENT IN THE LATEST FINANCIAL CRISIS. WE ARE NOW IN THE POST-AMERICAN PHASE & CLEARLY HEADING TOWARDS AN ASIAN CENTURY WITH CHINA, INDIA, RUSSIA, IRAN, VENEZUELA, BRAZIL & SOUTH AFRICA BEING THE LEADERS IN A MUTI-POLAR WORLD, WHILST US & EUROPE WILL CONTINUE TO STEADILY DECLINE.
BE IT THE RESISTANCE IN IRAQ, AFGHANISTAN, PALESTINE, LEBANON, SOMALIA OR GEORGIA AMONGST OTHERS, US POLICIES OF WAGING WAR ARE NOW COMING HOME TO ROOST & BOTH THE US MILITARY & FINANCIAL POWER HAVE REACHED THEIR LIMITS OR RATHER THAT THE IMPERIAL OVERSTRETCH IS NOW EVIDENT. THUS AN ALIGNMENT WITH AMERICA THAT FURTHER BINDS US INTO STRATEGIC ACCORDS, WILL HARM OUR MOBILITY AND CHOICES IN THE INTERNATIONAL ARENA & WILL IN FACT LEAD TO OUR ISOLATION IN THE NEWLY BUT FAST EMERGING
& CHANGING INTERNATIONAL LANDSCAPE.
& CHANGING INTERNATIONAL LANDSCAPE.
IT IS THUS OUR DEMAND THAT:
THE 123 AGREEMENT BE RE-NEGOTIATED BEFORE ITS FINAL SIGNATURE AND THAT THE HYDE ACT THAT SUPERCEDES THE 123 AGREEMENT, BE REJECTED IN TOTO.
THE GOI END ALL STRATEGIC AND MILITARY CO-OPERATION WITH THE US EMPIRE AS THAT IS A BETRAYAL OF OUR INDEPENDENCE MOVEMENT & THE LEGACY OF OUR ANTI-COLONIAL STRUGGLE.
INDIA PURSUE A FOREIGN POLICY INDEPENDENT OF US PRESSURE.
INDIA SHOULD ONCE AGAIN ASSUME THE MANTLE AND THE LEADERSHIP OF THE NON-ALIGNED MOVEMENT AND STRENGTHEN THE GLOBAL SOUTH AGAINST BEING EXPLOITED BY THE US & EUROPEAN FINANCIAL INSTITUTIONS AND THE NATO WAR MACHINE.
TO FULFILL OUR GROWING ENERGY NEEDS, THE GOI SHOULD IMMEDIATELY FINALISE THE IRAN-PAKISTAN-INDIA OIL PIPELINE WHICH HAS BEEN ABANDONED DUE TO US PRESSURE.
THE GOVERNMENT SHOULD PLAY A PRO-ACTIVE ROLE TO RESOLVE THE ENERGY CRISIS BY EXPLORING ALL CONVENTIONAL AND NON-CONVENTIONAL ENERGY OPTIONS ON A WAR FOOTING.
THE DEMONSTRATION WILL BE LEAD BY BHARIP BAHUJAN MAHASANGH - PRAKASH AMBEDKAR (NATIONAL PRESIDENT), DILIP BANSODE (MUMBAI PRESIDENT).RASHTRIYA SAMAJ PAKSH (RSP) - MAHADEV JANKAR (NATIONAL PRESIDENT), FEROZE MITHIBORWALA (NATIONAL VICE PRESIDENT-RSP), AMOL MADAME (MUMBAI PRESIDENT-RSP).
CPI-ML - SANJAY SINGHVI (CENTRAL POLITBURO MEMBER) KISHORE JAGTAP (AWAMI BHARAT), JATIN DESAI (PAKISTAN INDIA FORUM FOR PEACE & DEMOCRACY),SANOBER (LOKSHAHI HAKK SANGATHANA), ASLAM GHAZI (JAMAAT-I-ISLAMI-HIND), SIRAJ MOHAMMED (MPJ), SAYEED KHAN (AWAMI BHARAT), ARUN VELASKAR (CPI-ML), SYED IFTIKHAR AHMAD (MUSLIM INTELLECTUAL FORUM), SUDHIR DHAWLE, MUKTA SRIVASTAVA (NAPM), SHAKEEL (NIRBHAY BANO ANDOLAN), MUNNAWAR KHAN, JAGDISH NAGARKAR (PHULE-AMBEDKAR VICHAR MANCH), VARSHA V V (SADHBHAVA SANGH), MULNIWASI MALA (INDIAN SOCIAL MOVEMENT), ARIF KAPADIA, CHETNA BIRJE, RESHMA JAGTAP, JYOTI BEDEKAR (VIDYARTHI BHARTI) & AFAQ AZAD.
CPI-ML - SANJAY SINGHVI (CENTRAL POLITBURO MEMBER) KISHORE JAGTAP (AWAMI BHARAT), JATIN DESAI (PAKISTAN INDIA FORUM FOR PEACE & DEMOCRACY),SANOBER (LOKSHAHI HAKK SANGATHANA), ASLAM GHAZI (JAMAAT-I-ISLAMI-HIND), SIRAJ MOHAMMED (MPJ), SAYEED KHAN (AWAMI BHARAT), ARUN VELASKAR (CPI-ML), SYED IFTIKHAR AHMAD (MUSLIM INTELLECTUAL FORUM), SUDHIR DHAWLE, MUKTA SRIVASTAVA (NAPM), SHAKEEL (NIRBHAY BANO ANDOLAN), MUNNAWAR KHAN, JAGDISH NAGARKAR (PHULE-AMBEDKAR VICHAR MANCH), VARSHA V V (SADHBHAVA SANGH), MULNIWASI MALA (INDIAN SOCIAL MOVEMENT), ARIF KAPADIA, CHETNA BIRJE, RESHMA JAGTAP, JYOTI BEDEKAR (VIDYARTHI BHARTI) & AFAQ AZAD.
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