News ArticlesExcerpts of Key News Articles in Major Media
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The Justice Department used some of its most intrusive tactics against Eliot Spitzer, examining his financial records, eavesdropping on his phone calls and tailing him during its criminal investigation of the Emperor’s Club prostitution ring. The scale and intensity of the investigation of Mr. Spitzer, then the governor of New York, seemed ... to be a departure for the Justice Department, which aggressively investigates allegations of wrongdoing by public officials, but almost never investigates people who pay prostitutes for sex. A review of recent federal cases shows that federal prosecutors go sparingly after owners and operators of prostitution enterprises, and usually only when millions of dollars are involved or there are aggravating circumstances, like human trafficking or child exploitation. The focus on Mr. Spitzer was so intense that the F.B.I. used surveillance teams to follow both him and the prostitute in Washington in February. Stakeouts and surveillance are labor-intensive and often involve teams of a dozen or more agents and non-agent specialists. An affidavit filed in the prostitution case did not identify Mr. Spitzer by name, only as Client 9, but it provided far more detail, some of it unusually explicit, about Client 9’s encounter with the prostitute than about any of the nine other clients identified by number in the document. Several current and former federal prosecutors and prominent defense lawyers who reviewed the document said the inclusion of such salacious details about Mr. Spitzer’s encounter with the prostitute went far beyond what was necessary to provide probable cause for the arrests and for searches, the purpose of the affidavit. The government has not accused Mr. Spitzer, a Democrat, of any wrongdoing.
Note: A point left out by this report in the New York Times, which so prominently broke the Spitzer revelations, is that the names of the other "Clients" were never released. Could this be because the investigation and leaks to the media were politically motivated?
The FBI has increasingly used administrative orders to obtain the personal records of U.S. citizens rather than foreigners implicated in terrorism or counterintelligence investigations, and at least once it relied on such orders to obtain records that a special intelligence-gathering court had deemed protected by the First Amendment, according to two government audits released yesterday. The episode was outlined in a Justice Department report that concluded the FBI had abused its intelligence-gathering privileges by issuing inadequately documented "national security letters" from 2003 to 2006. The report makes it clear that the abuses persisted in 2006 and disclosed that 60 percent of the nearly 50,000 security letters issued that year by the FBI targeted Americans. Because U.S. citizens enjoy constitutional protections against unreasonable searches and seizures, judicial warrants are ordinarily required for government surveillance. But national security letters are approved only by FBI officials and are not subject to judicial approval; they routinely demand certain types of personal data, such as telephone, e-mail and financial records, while barring the recipient from disclosing that the information was requested or supplied. "The fact that these are being used against U.S. citizens, and being used so aggressively, should call into question the claim that these powers are about terrorists and not just about collecting information on all kinds of people," said Jameel Jaffer, national security director at the American Civil Liberties Union. "They're basically using national security letters to evade legal requirements that would be enforced if there were judicial oversight."
Note: For many key reports from major media sources on increasing threats to civil liberties, click here.
Last week, it was a $200 billion cash-for-bond swap for the banks. This week, it was a $200 billion bond-for-bond swap for the big investment houses. If they keep this up, pretty soon you'll be able to walk into any Federal Reserve bank and hock that diamond brooch you inherited from Aunt Mildred. Forget all that nonsense about the Bernanke Fed being too timid or behind the curve. In the face of what is turning into the most serious financial market crisis since the Great Depression, the Fed has been more aggressive and more creative in using its limitless balance sheet -- in effect, its ability to print money -- than at any time in history. We can argue till the cows come home about whether this is a bailout for Wall Street. It is -- but only to the extent that it is also a bailout for all of us, meant to prevent a financial and economic meltdown that drags everyone down with it. In broad strokes, we're going through a massive "de-leveraging" of the economy, wringing out trillions of dollars of debt that had artificially driven up the price of real estate and financial assets, and, more generally, allowed Americans to live beyond their means. Fed officials warn that this de-leveraging is nowhere near finished. It's anyone's guess how long this credit crunch will last, but the chances are that we'll have several more market meltdowns and Fed rescues before it's over, probably in the fall. Until then, the dollar will continue to get hammered and stocks will continue their fitful decline. And if the last two financially induced recessions are any guide, it will be well into 2009 before the economy hits bottom, followed by a couple of years of slow growth and "jobless" recovery.
Note: The title of this article is quite revealing. A bailout for the big banks is considered to be a bailout for everyone. If you believe this, we most highly encourage you to read our powerful two-page summary of the banking cover-up available here.
Wim Hof [is] known as 'The Ice Man." Scientists can't really explain it, but the 48-year-old Dutchman is able to withstand, and even thrive, in temperatures that could be fatal to the average person. It's an ability he discovered in himself as a young man 20 years ago. "I had a stroll like this in the park with somebody and I saw the ice and I thought, what would happen if I go in there. I was really attracted to it. I went in, got rid of my clothes. Thirty seconds I was in," Hof said. "Tremendous good feeling when I came out and since then, I repeated it every day." It was the moment that Hof knew that his body was different somehow: He was able to withstand fatally freezing temperatures. Hof began a lifelong quest to see just how far his abilities would take him. In January of 1999 he traveled 100 miles north of the Arctic Circle to run a half-marathon in his bare feet. Three years later, dressed only in a swimsuit, he dove under the ice at the North Pole and earned a Guinness World Record for the longest amount of time swimming under the ice: 80 meters, almost twice the length of an Olympic-sized pool. When he didn't experience frostbite or hypothermia, the body's usual reactions to extreme cold, his extraordinary ability started to get the attention of doctors who specialize in extreme medicine. Dr. Ken Kamler, author of Surviving the Extremes, has treated dozens of people who tried to climb Mount Everest, and instead nearly died from the frigid temperatures. He couldn't believe it when he got word of a Dutchman making the ascent with no protection other than a pair of shorts. "People are always looking for new firsts on Everest. It's been climbed so many times now, people climb it without oxygen, they climb it with all different kinds of handicaps. But no one has come close to climbing Everest in those kinds of conditions," Dr. Kamler said. "It's almost inconceivable."
Note: Wim Hof's charity foundation, Happy People of the World, is based in the Netherlands. Visit the Web site by clicking here.
You may not know James Risen's name, but you probably know his work: He's one of the New York Times reporters who broke the story of the Bush administration listening in to phone calls and reading email, without search warrants. A federal prosecutor has asked a grand jury to look into a book that Risen wrote. It details not only warrantless wiretapping but also how, when it came to covert operations in the Middle East, the Administration made "mistake piled on mistake", caused an "espionage disaster" and was "operating in the blind" when it came to Iran. Risen was subpoenaed to tell a grand jury who he talked to about Iran — in other words, to reveal his anonymous sources. So far, the reporter has refused to talk. If Risen is forced to testify, the public will be the real loser. Here's why: Anonymous sources have a lot to lose if their identities are revealed because a lot of them are powerful or prominent. So, if the Federal government can force a reporter like Risen to reveal their identities, those sources will clam up. For muckrakers and whistleblowers, it's getting harder and harder to expose corruption and wrongdoing. Take the case of former FBI agent Sibel Edmonds: She blew the whistle on massive incompetence at the Bureau — sloppy translations, missed messages from terror suspects. She even alleged that insiders were leaking secrets to foreign agents. She lost her job for it. Just after Congress got interested in her story — and a bipartisan group of Senators said they found her claims credible enough to warrant an investigation — the administration retroactively classified everything that she knew, pretty much shutting down any chance of an investigation. U.S. journalists have found it nearly impossible to look into her claims.
Note: James Risen's book is State of War: The Secret History of the CIA and the Bush Administration. It can be purchased here. For more on Sibel Edmonds' revelations, click here.
The Bush administration allowed CIA interrogators to use tactics that were "quite distressing, uncomfortable, even frightening," as long as they did not cause enough severe and lasting pain to constitute illegal torture, a senior Justice Department official said last week. In testimony before a House subcommittee, Steven G. Bradbury, the acting chief of the Justice Department's Office of Legal Counsel, spelled out how the administration regulated the CIA's use of rough tactics and offered new details of how [waterboarding] was used to compel disclosures by prisoners. Bradbury indicated that no water entered the lungs of the three prisoners who were subjected to the practice, lending credence to previous accounts that the noses and mouths of CIA captives were covered in cloth or cellophane. Cellophane could pose a serious asphyxiation risk, torture experts said. Bradbury's unusually frank testimony ... stunned many civil liberties advocates and outside legal scholars who have long criticized the Bush administration's secretive and aggressive interrogation policies. Martin S. Lederman, a former Office of Legal Counsel official who teaches law at Georgetown University, called Bradbury's testimony "chilling." Lederman said that "to say that this is not severe physical suffering -- is not torture -- is absurd. And to invoke the defense that what the Spanish Inquisition did was worse and that we use a more benign, non-torture form of waterboarding . . . is obscene." Bradbury wrote two secret memos in 2005 that authorized waterboarding, head-slapping and other harsh tactics by the CIA. As a result of that and other issues, Senate Democrats have repeatedly blocked Bradbury's nomination to head the legal counsel's office permanently.
Calorie-conscious consumers who opt for diet sodas may gain more weight than if they drank sugary drinks because of artificial sweeteners contained in the diet sodas, according to a new study. A Purdue University study ... in the journal Behavioral Neuroscience reported that rats on diets containing the artificial sweetener saccharin gained more weight than rats given sugary food, casting doubt on the benefits of low-calorie sweeteners. "There's something about diet foods that changes your metabolic limit, your brain chemistry," said ABC News' medical contributor Dr. Marie Savard. Savard said another recent study, which included more than 18,000 people, found healthy adults who consumed at least one diet drink a day could increase their chance for weight gain. In the Purdue study, the rats whose diets contained artificial sweeteners appeared to experience a physiological connection between sweet tastes and calories, which drove them to overeat. "The taste buds taste sweet, but there's no calorie load that comes with it. There's a mismatch here. It seems it changes your brain chemistry in some way," Savard said. The information may come as a surprise to the 59 percent of Americans who consume diet soft drinks, making them the the second-most-popular low-calorie, sugar-free products in the nation. Because so many foods today contain artificial sweeteners, the study results may go beyond diet drinks.
Note: For powerful evidence of a major cover-up of the risks and dangers of artificial sweetener aspartame, click here. For deeply revealing reports from reliable major media sources on major health issues, click here.
Texas icon Willie Nelson said on a nationally syndicated radio show that he questions the official story of the Sept. 11 terrorist attacks in New York City. "I certainly do," Nelson said ... when asked by talk-show host Alex Jones. "I saw those towers fall and I've seen an implosion in Las Vegas, there's too much similarities between the two. And I saw the building fall that didn't get hit by nothing," the singer-songwriter said. "So, how naive are we, you know, what do they think we'll go for?" Nelson, 74, said that if he were president, he would "stop the damn war, it's just that simple." He said he doesn't [understand] why if Saudi Arabians "hit us in New York ... we go jump on Afghanistan." Nelson's publicist would not comment on the remarks.
Note: For an ABC video clip of this news, click here.
The US, EU and other democracies are accepting flawed and unfair elections out of political expediency, Human Rights Watch says in its annual report. Allowing autocrats to pose as democrats without demanding they uphold civil and political rights risked undermining human rights worldwide, it warned. HRW said Pakistan, Thailand, Bahrain, Jordan, Nigeria, Kenya and Russia had been falsely claiming to be democratic. In the report, HRW said established democracies such as the US and members of the European Union were increasingly tolerating autocrats "claiming the mantle of democracy". "In 2007 too many governments ... acted as if simply holding a vote is enough to prove a nation 'democratic', and Washington, Brussels and European capitals played along. The Bush administration has spoken of its commitment to democracy abroad but often kept silent about the need for all governments to respect human rights." HRW Executive Director Kenneth Roth said it had become too easy for autocrats to get away with mounting a sham democracy "because too many Western governments insist on elections and leave it at that. They don't press governments on the key human rights issues that make democracy function - a free press, peaceful assembly, and a functioning civil society that can really challenge power. It seems Washington and European governments will accept even the most dubious election so long as the 'victor' is a strategic or commercial ally," Mr Roth said.
Here's a vision of the not-so-distant future: Microchips with antennas will be embedded in virtually everything you buy, wear, drive and read, allowing retailers and law enforcement to track consumer items -- and, by extension, consumers -- wherever they go, from a distance. A seamless, global network of electronic "sniffers" will scan radio tags in myriad public settings, identifying people and their tastes instantly so that customized ads, "live spam," may be beamed at them. In "Smart Homes," sensors built into walls, floors and appliances will inventory possessions, record eating habits, monitor medicine cabinets -- all the while, silently reporting data to marketers eager for a peek into the occupants' private lives. Science fiction? In truth, much of the radio frequency identification [RFID] technology that enables objects and people to be tagged and tracked wirelessly already exists -- and new and potentially intrusive uses of it are being patented, perfected and deployed. Some of the world's largest corporations are vested in the success of RFID technology, which couples highly miniaturized computers with radio antennas to broadcast information about sales and buyers to company databases. Already, microchips are turning up in some computer printers, car keys and tires, on shampoo bottles and department store clothing tags. They're also in library books and "contactless" payment cards. With tags in so many objects, relaying information to databases that can be linked to credit and bank cards, almost no aspect of life may soon be safe from the prying eyes of corporations and governments, says Mark Rasch, former head of the computer-crime unit of the U.S. Justice Department.
Note: For lots more on microchip implants, click here.
For the last four years, two robot rovers operated from the Jet Propulsion Laboratory in La Canada Flintridge have been moving across the surface of Mars, taking photographs and collecting information. It's an epic event in the history of exploration, one of many for which JPL's 7,000 civilian scientists and engineers are responsible -- when they're not fending off the U.S. government's attempts to conduct an intimidating and probably illegal inquisition into the intimate details of their lives. The problem began -- as so many have -- in the security mania that gripped the Bush administration after 9/11. Presidential Directive No. 12, issued by the Department of Homeland Security, directed federal agencies to adopt a uniform badge that could be used by employees and contractors to gain access to government facilities. NASA Administrator Michael Griffin ... directed Caltech, which has a contract to run JPL for NASA, to make sure all of the lab's employees complied. The government demanded that the scientists, in order to get the badges, fill out questionnaires on their personal lives and waive the privacy of their financial, medical and psychiatric records. The government also wanted permission to gather information about them by interviewing third parties. Twenty-eight of JPL's senior scientists sued in federal court to stop the government and Caltech from forcing them to agree to the background checks as the price of keeping their jobs. They point out that Griffin is one of those who remain skeptical that human actions contribute to global warming, and that some of JPL's near-Earth science has played a critical role in establishing the empirical case to the contrary. They see the background checks as the first step toward establishing a system of intimidation that might be used to silence inconvenient science.
Note: For many disturbing reports on threats to our civil liberties, click here.
The credit crisis may be fouling up billion-dollar takeover deals, but if you're a poor African seamstress who needs a loan for a new sewing machine, you could not ask for a better borrowing market to expand your business. Anyone with $25 to spare and an Internet connection can now become an international microfinancier through Kiva, an organization that matches individual lenders with impoverished entrepreneurs in the developing world. Steve Thomas, 50, a property tax consultant in Chicago, got started by lending $50 to a man in Togo who makes a living refurbishing used sneakers for resale. The loan was repaid in full and Thomas has gone on to fund 83 other ventures ranging from a cyber cafe in Ecuador to a mushroom-growing enterprise in Moldova. Microlending has been in use for decades. Muhammad Yunus shared the 2006 Nobel Peace Prize with Grameen Bank, the lender he founded in the early 1980s to help empower Bangladesh's rural poor. Several other institutions have developed since then, but Kiva is the first to open direct microlending opportunities to the general public with an online platform. Kiva hit the publicity jackpot in September when Oprah Winfrey featured the organization on her daytime television program, attracting a tidal wave of interest from Middle America. Demand was so high the day the episode aired, every loan on the site was fulfilled. Since then, Kiva has limited lenders to a $25-portion of each loan, the average of which is about $600. Even with the $25 cap, Kiva's lenders manage to fully fund each loan in 0.97 days, on average. The recent holiday season brought a fresh crop of lenders -- Kiva sold $2.2 million in gift certificates, which the givers were able to print out from their own computers.
Note: For a treasure trove of stories about the amazing successes of microlending in raising some of the poorest out of destitution, click here.
The Food and Drug Administration is set to announce as early as next week that meat and milk from cloned farm animals and their offspring can start making their way toward supermarket shelves. The decision would be a notable act of defiance against Congress, which last month passed appropriations legislation recommending that any such approval be delayed pending further studies. Moreover, the Senate version of the Farm bill ... contains stronger, binding language that would block FDA action on cloned food, probably for years. The FDA has hinted strongly in the past year that it is ready to lift its "voluntary moratorium" on the marketing of milk and meat from clones and their offspring, saying that the science led them to that decision. But public opinion has been negative on the issue, with some saying that not enough safety studies have been conducted and others concerned about the health of the clones, which are far more likely than ordinary farm animals to die early in life. A handful of U.S. companies have pushed for marketing approval. Margaret Mellon of the Union of Concerned Scientists, an advocacy group, said she had read the entire 678-page draft risk assessment and found it to be "long on assumptions and short on data, and especially short on the data that are directly relevant to food consumption safety." Of particular concern, she said, was that even though the vast majority of clones die either before birth or soon after, those that survive are deemed normal. She said the FDA should withhold approval at least until it has a regulatory plan in place that will give it an ability to track food from clones and watch for human health impacts. Others have called for mandatory labeling so consumers can avoid products from clones. The FDA has said that lacking any safety concerns, it will not demand such labels. The Agriculture Department has also declared that meat from clones cannot be deemed organic.
Note: For lots more reliable information on how big business takes huge risks with the food we eat, click here.
This has been an important week in the torture debate in America. It has been the week of the President’s coming-out party. This week, a CIA agent, John Kiriakou, appeared, first on ABC News and then in an interview with NBC’s Matt Lauer, and explained just how the system works. When we want to torture someone (and it is torture he said; no one involved with these techniques would ever think anything different), we have to write it up. The team leader of the torture team proposes what torture techniques will be used and when. He sends it to the Deputy Chief of Operations at the CIA. And there it is reviewed by the hierarchy of the Company. Then the proposal is passed to the Justice Department to be reviewed, blessed, and it is passed to the National Security Council in the White House, to be reviewed and approved. The NSC is chaired, of course, by George W. Bush, whose personal authority is invoked for each and every instance of torture authorized. And, according to Kiriakou as well as others, Bush’s answer is never “no.” He has never found a case where he didn’t find torture was appropriate. Here’s a key piece of the Kiriakou statement: LAUER: "Was the White House involved in that decision?" KIRIAKOU: "Absolutely, this isn’t something done willy nilly. It’s not something that an agency officer just wakes up in the morning and decides he’s going to carry out an enhanced technique on a prisoner. This was a policy made at the White House, with concurrence from the National Security Council and Justice Department." He then goes into the process in considerable detail. Watch the video here. So now the process can be fully diagrammed, and the cast of characters is stunning. The torture system involves the operations division of the CIA on the implementation side. The Justice Department is right in the thick of it. And finally the White House. David Addington, Dick Cheney, Condoleezza Rice and Stephen Hadley—these are all names we can now link directly to the torture system. They decided who would be tortured and how.
Transcript: [Suzanne] MALVEAUX: A Texas mystery solved -- at least partially. We now know Houston police are going to start using unmanned drone aircraft. But the question remains, well, for what? Stephen Dean of CNN affiliate KPRC has got an exclusive look. STEPHEN DEAN, KPRC CORRESPONDENT (voice-over): HPD [Houston Police Dept.], the federal Department of Homeland Security and other invited guests all watching to see how this drone could be used for police work in and around Houston. We tracked that drone from News Chopper 2. And that drone was able to use a high-powered camera to track us. Those cameras can actually look into people's homes or even follow them in moving cars -- which raises all sorts of new questions. HPD quickly hustled together a news conference when it realized our cameras were there for the entire secret test. Executive Assistant Chief Martha Mantabo admits that could mean covert police action. But she says it's too early to tell what else HPD will do with the aircraft. We asked, are these drones headed for ticketing speeders from the sky? MONTALVO: I'm not ruling anything out. DEAN: Back at the secret test site, police helicopter pilots claimed the entire air space was restricted and even threatened our local 2 Investigates pilot with action from the FAA if we didn't leave. But we checked with FAA several times and there never was a flight restriction. That leaves some to wonder whether the police are now ready to use terrorism fears since 911 to push the envelope further into our private lives.
Note: To watch the video of secret police work in action, click here.
According to a former AT&T employee, the government has warrantless access to a great deal of Internet traffic should they care to take a peek. As information is traded between users it flows also into a locked, secret room on the sixth floor of AT&T's San Francisco offices and other rooms around the country -- where the U.S. government can sift through and find the information it wants, former AT&T employee Mark Klein alleged Wednesday at a press conference on Capitol Hill. "An exact copy of all Internet traffic that flowed through critical AT&T cables -- e-mails, documents, pictures, Web browsing, voice-over-Internet phone conversations, everything -- was being diverted to equipment inside the secret room," he said. Klein ... said that as an AT&T technician overseeing Internet operations in San Francisco, he helped maintain optical splitters that diverted data en route to and from AT&T customers. One day he found that the splitters were hard-wired into a secret room on the sixth floor. Documents he obtained [from] AT&T showed that highly sophisticated data mining equipment was kept there. Conversations he had with other technicians and the AT&T documents led Klein to believe there are 15 to 20 such sites nationwide, including in Seattle, Los Angeles, San Jose, San Diego and Atlanta, he said. Brian Reid, a former Stanford electrical engineering professor who appeared with Klein, said the NSA would logically collect phone and Internet data simultaneously because of the way fiber optic cables are intertwined. He said ... the system described by Klein suggests a "wholesale, dragnet surveillance." Of the major telecom companies, only Qwest is known to have rejected government requests for access to data. Former Qwest CEO Joseph Nacchio, appealing an insider trading conviction last month, said the government was seeking access to data even before Sept. 11.
A federal judge yesterday issued a rare ruling that ordered Secretary of State Condoleezza Rice and more than 10 other prominent current and former government officials to testify on behalf of two pro-Israel lobbyists accused of violating the Espionage Act at their upcoming criminal trial. U.S. District Judge T.S. Ellis III in Alexandria [VA] directed that subpoenas be issued to officials who include Rice, national security adviser Stephen J. Hadley, former high-level Department of Defense officials Paul D. Wolfowitz and Douglas J. Feith, and Richard L. Armitage, the former deputy secretary of state. Their testimony has been sought by attorneys for Steven J. Rosen and Keith Weissman, former employees of the American Israel Public Affairs Committee, or AIPAC, who are accused of conspiring to obtain classified information and pass it to members of the media and the Israeli government. Attorneys for Rosen and Weissman say Rice and the other officials could help clear them because they provided the former lobbyists with sensitive information similar to what they were charged for. Prosecutors have been trying to quash the subpoenas during secret hearings and in classified legal briefs, but Ellis wrote that the testimony could help "exculpate the defendants by negating the criminal states of mind the government must prove." The lobbyists are the first non-government civilians charged under the 1917 espionage statute with verbally receiving and transmitting national defense information. Rosen and Weissman were indicted in 2005 on charges of conspiring to violate the Espionage Act by receiving national defense information and transmitting it to journalists and employees of the Israeli Embassy who were not entitled to receive it. Among those ordered to testify are William Burns, the U.S. ambassador to Russia; Elliot Abrams, deputy national security adviser; and Kenneth Pollack, former director of Persian Gulf affairs for the National Security Council.
Patrons of Karma Kitchen don't need to fight for the check at the end of a meal. There isn't one. Instead, the "guests" of this restaurant are handed a gold envelope with a handwritten note on the outside that says, "Have a lovely evening." Inside a bookmark-sized card states: "In the spirit of generosity, someone who came before you made a gift of this meal. We hope you will continue the circle of giving in your own way!" The sound bite for this restaurant is that meals cost whatever you want to pay, starting at zero. But the real idea beneath it runs deeper than the cost of a dinner. "This is about creating a shift in perspective," says Mehta. "It's a very simple shift but the shift is fundamental. It is a shift from transaction to trust. From a contract to a compact. From being separate to creating community." While too puny to regard as any serious challenge to Western economics, this restaurant fits loosely into a smattering of activities across the country and abroad that operate under the principles of the "gift economy." The common principles are volunteerism, no pleas for funds, and a view that these activities are not about changing the world. The ethos behind "gift economy" activities is to offer goods in the spirit of service with the conviction that the act, if genuine and without strings, will be self-sustaining. Put simply, a service or product is offered with the assumption that the act of giving is its own reward, and that it is likely to generate more giving in an ever-enriching circle.
The reality of the saga of the Knights Templar is almost as amazing as the myths that embellish it. The tale of the Templars remains a gaudy thread woven through the religion, politics and literature of Western civilization. Almost from their founding, the Templars have been rumored a.) to still exist; b.) to be impossibly rich, and; c.) to guard the Holy Grail (the cup from which Jesus drank at the Last Supper) and other Christian relics. For 150 years in the high Middle Ages, their order was incontestably one of the most powerful and creative military and economic forces in the world. The Templars developed a system whereby they left their wealth and lands at the disposal of a Templar institution at home, in exchange for a coded invoice that was then redeemed at the group's headquarters in Jerusalem. Researchers believe the Templars kept any revenues generated by the estates, effectively accruing interest — a practice otherwise forbidden as usury by the Church at the time. The journal American Banker wrote in 1990 that "a good case can be made for crediting [the Templars] with the birth of deposit banking, of checking, and of modern credit practices." It certainly made them some of Europe's richest and most powerful financiers. The Templars have been described as taking crown jewels and indeed entire kingdoms as mortgage for loans, and they maintained major branches in France, Portugal, England, Aragon, Hungary and various Mid-Eastern capitals. The group controlled as many as 9,000 estates, and left behind hundreds of buildings great and small.
Note: For deeply revealing reports from reliable major media sources on secret societies, click here.
One year ago, a 32-year-old trader at a giant hedge fund named Amaranth held huge sway over the price the country paid for natural gas. Trading on unregulated commodity exchanges, he made risky bets that led to the fund's collapse -- and, according to a congressional investigation, higher gas bills for homeowners. But as another winter approaches, lawmakers and federal regulators have yet to set up a system to prevent another big fund from cornering a vital commodity market. Called by some insiders the Wild West of Wall Street, commodity trading is a world where many goods that are key to national security or public consumption, such as oil, pork bellies or uranium, are traded with almost no oversight. Part of the problem is that the regulator, the federal Commodity Futures Trading Commission, has had a hard time keeping up with the sector it oversees. Commodity trading has exploded in complexity and popularity, growing six-fold in trading volume since 2000 -- the year that a handful of giant energy companies, including Enron, successfully lobbied to get Congress to exempt energy markets from government regulation. Meanwhile CFTC's staffing has dropped to its lowest level in the agency's 33-year history. Its computer systems that monitor trades are outdated. Its leadership has seen frequent turnover. "We are facing flat budgets and exponential growth in the industry," said CFTC Acting Chairman Walter Lukken. "Over the long term this type of budgetary situation is not sustainable." Commodities markets also have become complex with many trading futures contracts as well as financial tools called derivatives and swaps, whose value is based on the risk of futures contracts. Gathering data on these products has been a challenge for the CFTC. The evolution of the markets has led to some tension between the CFTC and the Federal Energy Regulatory Commission.
Note: For more revealing major media reports of unregulated financial corruption and its impact, click here.
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