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Not good…Greek PM Tsipras orders local governments to move their funds to central bank

Greece issued a legislative act on Monday requiring public sector entities to transfer idle cash reserves to the country’s central bank, as part of efforts to deal with a cash squeeze. Greece has been tapping into the cash reserves of pension funds and public sector entities through repo transactions as it scrambles to cover its funding needs.

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Post originally appeared on Bloomberg.

Running out of options to keep his country afloat, Greek Prime Minister Alexis Tsipras ordered local governments to move their funds to the central bank.

With negotiations over bailout aid deadlocked, Tsipras needs the cash for salaries, pensions and a repayment to the International Monetary Fund. Greek bonds fell after the move, pushing three-year yields to the highest since the nation’s debt restructuring in 2012. The order was questioned by local officials and slammed by the leading opposition party.

The decree to confiscate reserves now held in commercial banks and transfer them to the central bank could raise about 2 billion euros ($2.15 billion), according to two people familiar with the decision. It shows how time is running out for Tsipras, a point made by European officials who addressed the matter at IMF meetings in Washington in recent days.

“Central government entities are obliged to deposit their cash reserves and transfer their term deposit funds to their accounts at the Bank of Greece,” according to the decree issued Monday on a government website. The “regulation is submitted due to extremely urgent and unforeseen needs.”

A default on the country’s 313 billion euros of obligations and a euro exit would be traumatic for the currency area and plunge Greece into a major crisis, European Central Bank governing council member Christian Noyer told French newspaper Le Figaro in an interview published Monday.

The new funds may be just enough for salaries and a 770 million-euro payment to the IMF due on May 12, the people said.

The move is a sign of the “dire liquidity situation for the Greek financial system as the government pools all liquidity available,” said Gianluca Ziglio, executive director of fixed-income research at Sunrise Brokers LLP in London. The “next step may be forcing all public-sector entities, including public-sector companies to do the same,” he said.

The Athens city council and the union of municipalities and communities in Greece will convene tomorrow to debate the order.

George Papanikolaou, mayor of the Athens suburb of Glyfada said that local officials have “a responsibility to serve our citizens and improve their living standards.”

Glyfada has cash reserves of about 16 million euros, he said in an interview.

Greece’s main opposition party decried the seizure.

“The deadlock that’s been brought on by the government can’t be paid for by using the wealth of the Greek taxpayer and through an internal default,” Kostas Karagounis, spokesman for the New Democracy party, said in a statement.

Greece and its creditors remained at loggerheads with time running out. The sides haven’t even set 2015 budget targets, let alone policies to meet them, an official representing creditors said Monday, asking not to be named as talks aren’t public.

A spokesman for the Ministry of Finance declined to comment when contacted by phone.

European leaders want Greece to do more to revamp its debt-burdened economy, with progress to be reviewed on April 24 in Riga, Latvia, when finance ministers from the currency bloc meet. European Commission Vice President Valdis Dombrovskis said in an interview in Washington that creditors might need to wait until mid-May to see what Greece can deliver.

“The situation with Greece needs to be resolved soon,” Cypriot Finance Minister Harris Georgiades said in a Bloomberg Television interview Monday. “It would be a negative development if no progress is made at the meeting in Riga.”

That message was echoed by the Finance Ministry in Germany, Greece’s biggest country creditor.

“The coordination process must pick up considerable momentum and the responsibility for that lies with the Greek government,” ministry spokeswoman Friederike von Tiesenhausen said in Berlin.

Greek officials, including Deputy Prime Minister Yannis Dragasakis, remained defiant over the weekend, saying the government won’t betray its electoral promises and worsen the pain that came from previous austerity measures.

While “so-called” partners, including unidentified IMF officials, want to “blackmail” Greece into adopting measures that would hurt the working class, “we won’t betray the people’s mandate,” Energy Minister Panagiotis Lafazanis said, according to an interview published Sunday in Athens-based Real News newspaper.

References:

http://www.bloomberg.com/news/articles/2015-04-20/greece-moves-to-seize-local-government-cash-as-imf-payment-looms

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Is Silicon Valley Morphing Into The Morality Police?

Who gets to define what words and phrases protected under the First Amendment constitute hate — a catchall word that is often ascribed to any offensive speech someone simply doesn’t like?

The Duran

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Authored by Adrian Cohen via Creators.com:


Silicon Valley used to be technology companies. But it has become the “morality police,” controlling free speech on its platforms.

What could go wrong?

In a speech Monday, Apple CEO Tim Cook said:

“Hate tries to make its headquarters in the digital world. At Apple, we believe that technology needs to have a clear point of view on this challenge. There is no time to get tied up in knots. That’s why we only have one message for those who seek to push hate, division and violence: You have no place on our platforms.”

Here’s the goliath problem:

Who gets to define what words and phrases protected under the First Amendment constitute hate — a catchall word that is often ascribed to any offensive speech someone simply doesn’t like?

Will Christians who don’t support abortion rights or having their tax dollars go toward Planned Parenthood be considered purveyors of hate for denying women the right to choose? Will millions of Americans who support legal immigration, as opposed to illegal immigration, be labeled xenophobes or racists and be banned from the digital world?

Yes and yes. How do we know? It’s already happening, as scores of conservatives nationwide are being shadow banned and/or censored on social media, YouTube, Google and beyond.

Their crime?

Running afoul of leftist Silicon Valley executives who demand conformity of thought and simply won’t tolerate any viewpoint that strays from their rigid political orthodoxy.

For context, consider that in oppressive Islamist regimes throughout the Middle East, the “morality police” take it upon themselves to judge women’s appearance, and if a woman doesn’t conform with their mandatory and highly restrictive dress code — e.g., wearing an identity-cloaking burqa — she could be publicly shamed, arrested or even stoned in the town square.

In modern-day America, powerful technology companies are actively taking the role of the de facto morality police — not when it comes to dress but when it comes to speech — affecting millions. Yes, to date, those affected are not getting stoned, but they are being blocked in the digital town square, where billions around the globe do their business, cultivate their livelihoods, connect with others and get news.

That is a powerful cudgel to levy against individuals and groups of people. Wouldn’t you say?

Right now, unelected tech billionaires living in a bubble in Palo Alto — when they’re not flying private to cushy climate summits in Davos — are deciding who gets to enjoy the freedom of speech enshrined in the U.S. Constitution and who does not based on whether they agree with people’s political views and opinions or not.

You see how dangerous this can get — real fast — as partisan liberal elites running Twitter, Facebook, Google (including YouTube), Apple and the like are now dictating to Americans what they can and cannot say online.

In communist regimes, these types of folks are known as central planners.

The election of Donald Trump was supposed to safeguard our freedoms, especially regarding speech — a foundational pillar of a democracy. It’s disappointing that hasn’t happened, as the censorship of conservative thought online has gotten so extreme and out of control many are simply logging off for good.

A failure to address this mammoth issue could cost Trump in 2020. If his supporters are blocked online — where most voters get their news — he’ll be a one-term president.

It’s time for Congress to act before the morality police use political correctness as a Trojan horse to decide our next election.

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Paul Craig Roberts: The Disintegration of Western Society

Feminists brought this madness onto themselves.

Paul Craig Roberts

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Authored by Paul Craig Roberts:


Radical feminists are now being banned by Twitter not because they hate men, which is perfectly OK as far as Twitter is concerned, but because they object to “transwomen.”

What is a “transwoman?” As far as I can understand, a “transwoman” is a male with a penis who declares himself to be a women and demands his right to use women’s toilette facilities along with the women who are using them.

The feminist, Meghan Murphy, twittered a statement and a question:

“Men are not women.”

“How are transwomen not men? What is the difference between men and transwomen?”

Twitter described this as “hateful conduct” and banned Meghan Murphy. https://quillette.com/2018/11/28/twitters-trans-activist-decree/

There you have it. Yesterday it was feminists who were exercising their special society-bestowed privileges to censor. Today it is the feminists who are being censored. As this insanity of “Western Civilization” continues, tomorrow it will be the transwomen who are censored and banned.

What precisely is afoot?

My readers, who have partially and some wholly escaped from The Matrix, understand that this is the further fragmentation of American society. Identity Politics has set men, women, blacks, Jews, Asians, Hispanics, and white people against one another. Identity Politics is the essence of the Democratic Party and the American liberal/progressive/left. Now, with the creation of “new” but otherwise nonexistent “genders,” although they are honored as real by the controlled whores who masquerade as a “Western media,” we witness radical feminists being silenced by men pretending to be women.

I sympathize with Meghan Murphy, but she brought this on herself and on the rest of us by accepting Identity Politics. Identity Politics gave Meghan a justification for hating men even, as she failed to realize, it provided the basis for moving her into the exploitative class that must be censored.

Where does this end?

It has already gone far enough that the American population is so divided and mutually hostile that there is no restraint by “the American people” on government and the elite oligarchs that rule. “The American people” are no longer a reality but a mythical creature like the unicorn.

The film, The Matrix, is the greatest film of out lifetime. Why? Because it shows that there are two realities. A real one of which only a few people are aware, and a virtual one in which eveyone else lives.

In the United States today, and throughout “Western Brainwashed Civilization,” only a handful of people exist who are capable of differentiating the real from the created reality in which all explanations are controlled and kept as far away from the truth as possible. Everything that every Western government and “news” organization says is a lie to control the explanations that we are fed in order to keep us locked in The Matrix.

The ability to control people’s understandings is so extraordinary that, despite massive evidence to the contrary, Americans believe that Oswald, acting alone, was the best shot in human history and using magic bullets killed President John F. Kenndy; that a handful of Saudi Arabians who demonstratively could not fly airplanes outwitted the American national security state and brought down 3 World Trade Center skyscrapers and part of the Pentagon; that Saddam Hussein had and was going to use on the US “weapons of mass destruction;” that Assad “used chemical weapons” against “his own people;” that Libya’s Gaddifi gave his soldiers Viagra so they could better rape Libyan women; that Russia “invaded Ukraine;” that Trump and Putin stole the presidential election from Hillary.

The construction of a make-believe reality guarantees the US military/security complex’s annual budget of $1,000 billion dollars of taxpayers’ money even as Congress debates cutting Social Security in order to divert more largess to the pockets of the corrupt military/security complex.

Readers ask me what they can do about it. Nothing, except revolt and cleanse the system, precisely as Founding Father Thomas Jefferson said.

Is Thomas Jefferson Alive and Well In Paris?

If this report is correct, pray the revolt spreads to the US.

https://www.infowars.com/video-french-police-remove-helmets-in-solidarity-with-yellow-vest-protesters/

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Google Employees debated burying conservative media in search

Google engineer Scott Byer falsely labeled The Daily Caller and Breitbart as “opinion blogs” and urged his coworkers to reduce their visibility in search results.

The Daily Caller

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Via The Daily Caller


  • Google employees debated whether to bury The Daily Caller and other conservative media outlets in the company’s search function as a response to President Donald Trump’s election
  • “Let’s make sure that we reverse things in four years,” one engineer wrote in a thread that included a Google vice president
  • Google employees similarly sought to manipulate search results to combat Trump’s travel ban

Google employees debated whether to bury conservative media outlets in the company’s search function as a response to President Donald Trump’s election in 2016, internal Google communications obtained by The Daily Caller News Foundation reveal.

The Daily Caller and Breitbart were specifically singled out as outlets to potentially bury, the communications reveal.

Trump’s election in 2016 shocked many Google employees, who had been counting on Democratic nominee Hillary Clinton to win.

Communications obtained by TheDCNF show that internal Google discussions went beyond expressing remorse over Clinton’s loss to actually discussing ways Google could prevent Trump from winning again.

“This was an election of false equivalencies, and Google, sadly, had a hand in it,” Google engineer Scott Byer wrote in a Nov. 9, 2016, post reviewed by TheDCNF.

Byer falsely labeled The Daily Caller and Breitbart as “opinion blogs” and urged his coworkers to reduce their visibility in search results.

“How many times did you see the Election now card with items from opinion blogs (Breitbart, Daily Caller) elevated next to legitimate news organizations? That’s something that can and should be fixed,” Byer wrote.

“I think we have a responsibility to expose the quality and truthfulness of sources – because not doing so hides real information under loud noises,” he continued.

“Beyond that, let’s concentrate on teaching critical thinking. A little bit of that would go a long way. Let’s make sure that we reverse things in four years – demographics will be on our side.”

Some of Byer’s colleagues expressed concern that manipulating search results could backfire and suggested alternative measures

One Google engineer, Uri Dekel, identified himself as a Clinton supporter but argued that manipulating search results was the wrong route to take.

“Thinking that Breitbart, Drudge, etc. are not ‘legitimate news sources’ is contrary to the beliefs of a major portion of our user base is partially what got us to this mess. MSNBC is not more legit than Drudge just because Rachel Maddow may be more educated / less deplorable / closer to our views, than, say Sean Hannity,” Dekel wrote in a reply to Byer.

“I follow a lot of right wing folks on social networks you could tell something was brewing. We laughed off Drudge’s Instant Polls and all that stuff, but in the end, people go to those sources because they believe that the media doesn’t do it’s job. I’m a Hillary supporter and let’s admit it, the media avoided dealing with the hard questions and issues, which didn’t pay off. By ranking ‘legitimacy’ you’ll just introduce more conspiracy theories,” Dekel added.

“Too many times, Breitbart is just echoing a demonstrably made up story,” Byer wrote in a reply to his original post. He did not cite any examples.

“That happens at MSNBC, too. I don’t want a political judgement. The desire is to break the myth feedback loop, the false equivalency, instead of the current amplification of it,” Byer added.

“What I believe we can do, technically, that avoids the accusations of conspiracy or bias from people who ultimately have a right and obligation to decide what they want to believe, is to get better at displaying the ‘ripples’ and copy-pasta, to trace information to its source, to link to critiques of those sources, and let people decide what sources they believe,” another Google engineer, Mike Brauwerman, suggested.

“Give people a comprehensive but effectively summarized view of the information, not context-free rage-inducing sound-bytes,” he added.

“We’re working on providing users with context around stories so that they can know the bigger picture,” chimed in David Besbris, vice president of engineering at Google.

“We can play a role in providing the full story and educate them about all sides. This doesn’t have to be filtering and can be useful to everyone,” he wrote.

Other employees similarly advocated providing contextual information about media sources in search results, and the company later did so with a short-lived fact check at the end of 2017.

Not only did the fact-check feature target conservative outlets almost exclusively, it was also blatantly wrong. Google’s fact check repeatedly attributed false claims to those outlets, even though they demonstrably never made those claims.

Google pulled the faulty fact-check program in January, crediting TheDCNF’s investigation for the decision.

A Google spokeswoman said that the conversation did not lead to manipulation of search results for political purposes.

“This post shows that far from suppressing Breitbart and Daily Caller, we surfaced these sites regularly in our products. Furthermore, it shows that we value providing people with the full view on stories from a variety of sources,” the spokeswoman told TheDCNF in an email.

“Google has never manipulated its search results or modified any of its products to promote a particular political ideology. Our processes and policies do not allow for any manipulation of search results to promote political ideologies.”

The discussion about whether to bury conservative media outlets isn’t the first evidence that some Google employees have sought to manipulate search results for political ends.

After Trump announced his initial travel ban in January 2017, Google employees discussed ways to manipulate search results in order to push back against the president’s order.

A group of employees brainstormed ways to counter “islamophobic, algorithmically biased results from search terms ‘Islam’, ‘Muslim’, ‘Iran’, etc,” as well as “prejudiced, algorithmically biased search results from search terms ‘Mexico’, ‘Hispanic’, ‘Latino’, etc.”

WATCH:

Trump speculated to The Daily Caller in September that Google and Facebook are trying to affect election outcomes.

“I think they already have,” Trump said, responding to questions about potential election interference by Google and Facebook.

“I mean the true interference in the last election was that — if you look at all, virtually all of those companies are super liberal companies in favor of Hillary Clinton,” he added.

“Maybe I did a better job because I’m good with the Twitter and I’m good at social media, but the truth is they were all on Hillary Clinton’s side, and if you look at what was going on with Facebook and with Google and all of it, they were very much on her side,” Trump continued.

Google this month corrected a “knowledge panel” about a Republican women’s group that labeled them “enablers.”

Google cited Wikipedia for the disparaging description, though a similar change made to Wikipedia’s page for the women’s group was corrected almost immediately. Google left up the digital vandalism for three weeks.

Google apologized in May after search results for the California Republican Party falsely listed “Nazism” as one of the state party’s ideologies.

Then, too, Google blamed manipulation of the party’s Wikipedia page for the inaccurate and disparaging description.

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