Most people think that banks lend solely from their base of deposits. Some also know that with fractional reserve banking, they can loan out many times more than they actually have in reserves.
Germany's central bank has admitted in writing that banks create credit out of thin air.
Revealed: Tony Blair’s secret oil links to Middle East
The former prime minister has been in the pay of the Kuwaiti government and a South Korean oil firm for up to 18 months, a parliamentary watchdog has revealed.
In a further revelation, a classified memo from Mr Blair to President Bush showed the full extent of his support for the toppling of Saddam Hussein.
The personal note — which has been seen by the Chilcot Inquiry but not released by the Government — shows that Mr Blair wrote: “You know, George, whatever you decide to do, I'm with you.”
'Current Knesset is the most racist in Israeli history'
The Israeli government passed at least 21 bills aimed at discriminating against the country's Arab citizens making the current Knesset as being the most racist Israeli parliament since the country's founding, according to a report released Sunday by civil rights groups.
The Coalition Against Racism and the Mossawa Center, which works to promote equality, claimed that the proposed legislation seeks to de-legitimize Israel's Arab citizens by decreasing their civil rights. The report's data show that in 2008 there were 11 bills defined as racist presented to the Knesset while in 2009 there were 12 such bills.
In 2010, the report's authors claim, there were no less than 21 bills proposed that included discriminatory elements against the country's Arab citizens. According to the report released to mark the International Day for the Elimination of Racial Discrimination, the number of laws that discriminate against Arab citizens proposed in the current Knesset bypassed all previous years, increasing by 75 percent.
NYT PUBLIC EDITOR FINALLY ADMITS ACORN 'PIMP' HOAX REPORTING FAILURE: 'TIMES WAS WRONG, I HAVE BEEN WRONG DEFENDING PAPER'
Even as the New York Times once again misreported the ACORN "Pimp" Hoax on its pages in a report on the community organization's possible declaration of bankruptcy in Saturday's paper, their Public Editor (ombudsman) Clark Hoyt finally admits in his column tonight, for tomorrow's paper, that both he and the paper were "wrong" in their reports about rightwing dirty trickster James O'Keefe's "pimp" costume, adding that "editors say they are considering a correction."
AWARD WINNING JOURNALIST MOHAMMED OMER BARRED FROM ENTRY TO US
Effectively canceling a planned speaking tour, the U.S. consulate in the Netherlands has put an extended hold on the visa application of award-winning Palestinian journalist and photographer Mohammed Omer, scheduled to speak on conditions in Palestine, on April 5th in Chicago.
Violations of Iraqi Children Rights Under the American Occupation
The American occupation forces, and the occupation-assigned Iraqi government, grossly failed to fulfill their most basic duties towards the children of Iraq in accordance with the UN/CRC Convention on the Rights of the Child, Resolution 25/ Session 44, November 1989. The convention was ratified by 194 United Nations countries, except the USA and Somalia.
Arrogant, corrupt, secretive – the Catholic church failed to tackle evil
The cover-up of child sexual abuse by the Catholic church is not about sex and it is not about Catholicism. It is not, as Pope Benedict rightly argued in yesterday's distressingly bland pastoral letter, about priestly celibacy. It is about power.
The urge to prey on children is not confined to the supposedly celibate clergy and exists in all walks of life. We know that it can become systemic in state and voluntary, as well as in religious, institutions. We know that all kinds of organisations – from banks to political movements – can generate a culture of perverted loyalty in which otherwise decent people will collude in crimes "for the greater good".
In none of these respects is the Catholic church unique. What makes it different – and what gives this crisis its depth – is the church's power. It had the authority, indeed the majesty, to compel victims and their families to collude in their own abuse and to keep hideous crimes secret for decades.
The transplant revolution
A 10-year-old boy has undergone pioneering surgery in which his own body worked as a "bioreactor" to help a donated windpipe, seeded with his own stem cells, grow into a fully functioning organ.
The boy, who is British, is the first child in the world to undergo the revolutionary transplantation. The development takes transplant surgery a step closer to the goal of replacing damaged or worn-out organs with functioning replacements that are not rejected by the body, which are in increasing demand as life expectancy grows.
It also opens up the prospect of treating damaged organs with stem cells to stimulate self-repair, potentially avoiding the need for a transplant.
Anti-war protesters converge in D.C. for Iraq war 7th anniversary
Thousands are protesting in the nation's capital on the seventh anniversary of the invasion of Iraq, carrying signs reading "Indict Bush Now" and flag-draped cardboard coffins.
Protesters gathered at Lafayette Park across from the White House and planned to march through downtown. Stops on the route include military contractor Halliburton, the Mortgage Bankers Association and The Washington Post offices.
More...
TVNL Comment: 300 Teabaggers against health care reform get national coverage on every network. Thousands of war protesters are ignored. What a shock!
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