Saturday, February 28, 2015

Reforming Money and Banking: Keys to Debt and Jubilee - Tikkun Magazine

A moral component is currently lacking in all platforms in high-frequency trading, derivatives, and dark pools in today’s electronic global financial casino.

The structural instabilities of laissez-faire, market-dominated societies became abundantly apparent during the widespread financial crises and debt-driven credit meltdown on Wall Street in 2008. Instead of addressing these instabilities at their root, however, many governments shredded safety nets, cut jobs, and imposed misguided “austerity” programs.

Clearly we need to explore new options. The movement for Jubilee is pragmatic since history proves that as borrowed money flows upward to the lenders, debts become unrepayable.

As in the game of monopoly, the upward accumulation of money, power, and information inevitably ends in “game over.” The calls for Jubilee are a way to restart the game. They also reintroduce the moral component missing from economic textbooks and mathematical models, which have been raised to dangerous levels of abstraction in artificial intelligence and computerized, algorithm-based trading.

A moral component is currently lacking in all platforms in high-frequency trading, derivatives, and dark pools in today’s electronic global financial casino. Ironically, these new platforms were all made possible by taxpayers through their subsidization of communications technologies, satellites, the internet, and financial infrastructure, as documented in The Entrepreneurial State (2013).

The full article is available here



Wednesday, February 11, 2015

13 Year Old Yemen Boy Who Feared Drones Killed in CIA Strike - Common Dreams

"In their eyes, we don’t deserve to live like people in the rest of the world,' said the victim ahead of his ultimate death, 'and we don’t have feelings or emotions or cry or feel pain like all the other humans around the world."

Just weeks after speaking with western journalists about his pervasive fear of the U.S. drones flying overhead in his home country of Yemen, 13-year-old Mohammed Tuaiman was reportedly killed in a CIA-directed bombing on January 26.

His family vows that it will demand justice for Mohammed and insists, "He wasn’t a member of al-Qaida. He was a kid."

When the Guardian interviewed Mohammed last September, he spoke of his anger towards the U.S. government for killing his father. "They tell us that these drones come from bases in Saudi Arabia and also from bases in the Yemeni seas and America sends them to kill terrorists, but they always kill innocent people. But we don’t know why they are killing us."

"In their eyes, we don’t deserve to live like people in the rest of the world,' said the victim ahead of his ultimate death, 'and we don’t have feelings or emotions or cry or feel pain like all the other humans around the world."

The full article is available here

Saturday, February 7, 2015

Was Obama Right About Crusades & Islamic Extremism? Jay Michaelson at Religion News Service

Crusaders massacering Jews in Rhineland
Christians should not be insulted by the facts of history. All people of faith should be inspired by them to recognize the dangers of extremism — wherever they lie.

In his recent speech at the National Prayer Breakfast, President Obama said that Christians, as well as Muslims, have at times committed atrocities.  This would seem to be Religious History 101, but it was nonetheless met with shock and awe by right wing pundits.

Yes the Crusades were a thousand years ago, the Inquisition ended 200 years ago and Jim Crow legally ended in the 1960s. But the president specifically noted that “humanity has been grappling with these questions throughout human history.”

1. The Crusades
Tens of thousands of people (both soldiers and civilians) were killed in the conquest of Jerusalem. The Crusaders themselves suffered; historians estimate that only one in 20 survived to even reach the Holy Land. It is estimated that 1.7 million people died in total.

Along the way, the Crusaders massacred. To take but one example, the Rhineland Massacres of 1096 are remembered to this day as some of the most horrific examples of anti-Semitic violence prior to the Holocaust. (Why go to the Holy Land to fight nonbelievers, many wondered, when they live right among us?) The Jewish communities of Cologne, Speyer, Worms, and Mainz were decimated. There were more than 5,000 victims.

And this is all at a time in which the world population was approximately 300 million — less than 5 percent its current total. Muslim extremists would have to kill 34 million people (Muslim and non-Muslim alike) to equal that death toll today. As horrific as the Islamic State’s brutal reign of terror has been, its death toll is estimated at around 20,000.

2. The Inquisition
The Inquisition refers to a set of institutions within the Roman Catholic Church that operated from the mid-13th century until the 19th century.

It saw the execution and torture thousands of suspected witches, converts from Judaism (many of whom had been forced to convert), Protestants, and all manner of suspected heretics, particularly in the 15th and 16th centuries. Historians estimate that 150,000 people were put on trial by the Inquisition, with 3,000 executed.

Arguably, the Islamic State’s methods of execution — including crucifixion, beheading, and, most recently, burning a prisoner alive — are as gruesome as the Inquistion’s, with its infamous hangings and burnings at the stake. ISIS is also committing systematic rape, which the Inquisition did not, and enslaving children.

As for torture, however, it’s hard to do worse than the Inquisition, which used torture as a method of extracting confessions. Methods included starvation, burning victims’ bodies with hot coals, forced over-consumption of water, hanging by straps, thumbscrews, metal pincers, and of course, the rack.

3. Slavery and Jim Crow
More recently, though the vast majority of Christians abhor it, the Ku Klux Klan, to the present day, still insists that it is a “Christian organization.” There’s a reason the Klan burned crosses alongside its lynchings and acts of arson, after all.

Of course, there was also organized Christian opposition to slavery and to Jim Crow, and Christianity is at least as much the property of the Rev. Martin Luther King, Jr., as of the segregationists and slaveholders of the Old South.

There are two narratives about radical Islamists, and indeed about enemies of any sort, that coexist in American culture. According to one, they are different from us — Muslims, Palestinians, Israelis, Communists, you name it. Thus, in the battle against Islamic extremism, Islam is, in part at least, the enemy.

The other narrative is that all peoples, all creeds, all nations contain elements of moderation and extremism. Thankfully, racist Christian extremists are today a tiny minority within American Christianity. But only 100 years ago, they were as popular among American Christians as the Islamic State is among Muslims today. Thus, in the battle against Islamic extremism, it is extremism that is the enemy.

Hysterical commentary notwithstanding, no one is suggesting that Christians are just like the Islamic State. But Obama did suggest that Christianity is like Islam; both faiths have the capacity to be exploited by extremists.

Christians should not be insulted by the facts of history. All people of faith should be inspired by them to recognize the dangers of extremism — wherever they lie.

The full article is available here