Pope fires entire board of Vatican financial watchdog

By Philip Pullella

VATICAN CITY Thu Jun 5, 2014 12:00pm EDT

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1 of 2. Pope Francis waves as he arrives to lead his weekly general audience at St. Peter's Square at the Vatican June 4, 2014.

Credit: Reuters/Alessandro Bianchi

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(Reuters) - Pope Francis sacked the five-man board of the Vatican's financial watchdog on Thursday - all Italians - in the latest move to break with an old guard associated with a murky past under his predecessor.
The Vatican said the pope named four experts from Switzerland, Singapore, the United States and Italy to replace them on the board of the Financial Information Authority (AIF), the Holy See's internal regulatory office. The new board includes a woman for the first time.
All five outgoing members were Italians who had been expected to serve five-year terms ending in 2016 and were laymen associated with the Vatican's discredited financial old guard.
Reformers inside the Vatican had been pushing for the pope, who already has taken a series of steps to clean up Vatican finances, to appoint professionals with an international background to work with Rene Bruelhart, a Swiss lawyer who heads the AIF and who has been pushing for change.
Vatican sources said Bruelhart, Liechtenstein's former top anti-money laundering expert, was chafing under the old board and wanted Francis to appoint global professionals like him.
"Bruelhart wanted a board he could work with and it seems the pope has come down on his side and sent the old boy network packing," said a Vatican source familiar with the situation.
The new board of the AIF includes Marc Odendall, who administers and advises philanthropic organizations in Switzerland, and Juan C. Zarate, a Harvard law professor and senior advisor at the Center for Strategic and International Studies, a think tank based in Washington D.C.
The other two board members are Joseph Yuvaraj Pillay, former managing director of the Monetary Authority of Singapore and senior advisor to that country's president, and Maria Bianca Farina, the head of two Italian insurance companies.
Francis, who was elected in March 2013 after the resignation of former Pope Benedict, in February set up a new Secretariat for the Economy reporting directly to him and appointed an outsider, Australian Cardinal George Pell, to head it.
In January he removed Cardinal Attilio Nicora, a prelate who played a senior role in Vatican finances for more than a decade, as president of the AIF and replaced him with an archbishop with a track record of reform within the Vatican bureaucracy.
He also replaced four of the five cardinals in the commission that supervises the Vatican's troubled bank, known as the Institute for Works of Religion (IOR).
Since the arrival of Bruelhart in 2012, the AIF has been spearheading reforms to bring the Vatican in line with international standards on financial transparency and money laundering. But Vatican sources say he has encountered resistance from an old, entrenched guard.
A report last December by Moneyval, a monitoring committee of the Council of Europe, said the Vatican had enacted significant reforms but must still exercise more oversight over its bank.
Francis, who has said Vatican finances must be transparent in order for the Church to have credibility, decided against closing the IOR on condition that reforms, including closing accounts by people not entitled to have them, continued.
Only Vatican employees, religious institutions, orders of priests and nuns and Catholic charities are allowed to have accounts at the bank. But investigators have found that a number were being used by outsiders or that legitimate account holders were handling money for third parties.
Monsignor Nunzio Scarano, a former senior Vatican accountant who had close ties to the IOR, is currently on trial accused of plotting to smuggle millions of dollars into Italy from Switzerland in a scheme to help rich friends avoid taxes.
Scarano has also been indicted on separate charges of laundering millions of euros through the IOR. Paolo Cipriani and Massimo Tulli, the IOR's director and deputy director, who resigned last July after Scarano's arrest, have been ordered to stand trial on charges of violating anti-money laundering norms.
(Reporting by Philip Pullella; Editing by Sonya Hepinstall)

International

Carlos Barria / AP

Russia, China sign deal to bypass U.S. dollar

Analysis: The agreement is a symbolic blow to US global financial hegemony and a signal of Russian-Chinese rapprochement

May 20, 2014 5:00PM ET

by Michael Pizzi @michaelwpizzi

In a symbolic blow to U.S. global financial hegemony, Russia and China took a small step toward undercutting the domination of the U.S. dollar as the international reserve currency on Tuesday when Russia’s second biggest financial institution, VTB, signed a deal with the Bank of China to bypass the dollar and pay each other in domestic currencies.
The so-called Agreement on Cooperation — signed in the presence of Chinese President Xi Jinping and Russian President Vladimir Putin, who is on a visit to Shanghai — was followed by the long-awaited announcement on Wednesday of a massive natural gas deal 10 years in the making.
“Our countries have done a huge job to reach a new historic landmark,” Putin said on Tuesday, making note of the $100 billion in annual trade that has been achieved between the two countries.
Demand for the dollar, which has long served as a safe and reliable reserve currency in international transactions, has allowed the U.S. to borrow almost unlimited cash and spend well beyond its means, which some economists say has afforded the United States an outsize influence on world affairs.
But the BRICS countries — Brazil, Russia, India, China and South Africa, a bloc of the world’s five major emerging economies — have long sought to diminish their dependence on the dollar as a means of reshaping the world financial and geopolitical order. In the absence of a viable alternative, however, replacing it has proved difficult.
For its part, “China sees the dominance of the dollar in international trade transactions as a remnant of American global dominance, which they hope to overthrow in the years ahead,” said Michael Klare, a professor of peace and world security studies at Hampshire College. “This is a small step in that direction, to reduce the primacy of the dollar in international trade.”
Some have been tempted to view Tuesday's deal in the context of Putin's showdown with the West over the crisis in Ukraine. After the U.S. and Europe imposed sanctions on Moscow for its annexation of Ukraine's Crimean peninsula, Putin may have finally made good on promised retaliation against what he views as Western hegemony in Russia's near abroad.
“Breaking the dominance of the U.S. dollar in international trade between the BRICS is something that the group has been talking about for some time,” said Chris Weafer, a founding partner of Macro-Advisory, a consultancy in Moscow. “The Ukraine crisis and the threats voiced by the U.S. administration may well provide the catalyst for that to start happening.”
To be sure, the Russia-China bank deal is mostly a symbolic step. Liza Ermolenko, an emerging markets economist at Capital Economics in London, said that the deal was still “a very small one, in the grand scale of things,” and that it wouldn’t change Russia’s reliance on the dollar “overnight.” Most of Russia’s export contracts in the oil and gas markets are still priced in dollars, she noted, and on a wider scale, replacing the dollar with the ruble is much too risky to even consider.
Likewise, even though China has agreed to the gas deal, which could see over $450 billion of Russian natural gas flow from eastern Siberia into China over the next 30 years, Russia is not in a position to abandon its ties with Europe.
"From the commercial standpoint, Europe is the most profitable market for Gazprom,” said Mikhail Korchemkin, the founder of Eastern European Gas Analysis, who has consulted for Gazprom, the Russian state-owned gas company. "Exports to China can generate a small profit, [but] only if the government makes it free of taxes and duties.”
But the bank deal is another indicator that Russia and China are in the middle of a wider rapprochement, which analysts say is premised not on ideological alignment but on a mutual desire to undercut the U.S. in their respective spheres of influence.
Both countries are wary of President Barack Obama’s “pivot east,” a recalibration of U.S. foreign policy away from decades of war in the Middle East and toward the fast-growing economies of the East. Cynical observers have interpreted the shift as an effort to contain China.
"This is a marriage of mutual strategic interests, not a marriage of love," said Klare. “China wants energy and weapons from Russia, and Russia wants diplomatic backing and cash. It’s a quid pro quo.”
Yet even if China feels threatened by U.S. encroachment, it is Russia that is desperately pursuing closer ties with China.
Putin may have gotten the better of the Western powers in the showdown over Crimea, but at the cost of growing geopolitical isolation. Under intense pressure to demonstrate Russia's avowed independence from the West, he has repeatedly threatened that he could simply shut off its natural gas pipelines to Europe and find new markets for Russian energy exports.
Separate from that political posturing, the Russian imperative to find new markets for its energy exports is nonetheless very real. Energy demands in Europe have plateaued and may even decline in the long term because of stringent environmental regulations.
“If Russia wants to continue to be a petrostate, it has to shift marketing of its exports to Asia," said Klare, who noted that Western energy conglomerates like ExxonMobil have begun doing the same.
“We don’t want to push this too far and see it as a formation of a new, global anti-American bloc that is starting a new Cold War,” he added. "This is market-driven more than it’s political."

Russia, China Drop Bombshell On US Dollar

Monday, June 9, 2014 13:28

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(Before It's News)

By Susan Duclos

 

Trends forecasters, financial gurus and just about everyone in the financial industry that isn’t participating in one of the hugest coverups in history, have warned us, over and over again that this day would come….. and now it is here.

 

Two huge bombshells have been dropped over the last few days, but the MSM hasn’t highlighted the meaning yet or they are complicit in keeping how devastating this news is for the US dollar and economy, from the American people.

 

The first came out on June 6, 2014, where t was reported that the International Monetary Fund’s headquarters may one day shift to Beijing from Washington:

The IMF founding members “decided that the institution would be headquartered in the country which had the biggest share of the quota, which chipped in the biggest amount and contributed most. And that is still today the United States,” she said in response to questions at the London School of Economics.

“But the way things are going, I wouldn’t be surprised if one of these days the IMF was headquartered in Beijing for instance,” she said. “It would be the articles of the IMF that would dictate it.”

Lagarde said the IMF has a good relationship with China, the world’s second largest economy and she praised the government’s commitment to fighting corruption.

The second shocker was reported by Financial Times of London and is perhaps the most damaging to the US Dollar and that is that Russia has announced they will not settle trade deals using Chinese and Asian currencies.

Alexander Dyukov, chief executive of Gazprom’s oil division, has said that the company has discussed with its customers the possibility of shifting contracts out of dollars, while Norilsk Nickel told the FT that it was discussing denominating long-term contracts with Chinese consumers in renminbi.

“It looks like this is not just a blip, this is a trend,” said Mr Teplukhin of Deutsche Bank. He added that Russian companies were able to hedge the risk of further US sanctions by “changing the letter of their contracts to allow them to change currency if it is necessary”.

Some politicians have suggested Moscow should respond to western sanctions by entirely “de-dollarising” its economy.

Fabian4Liberty explains more about this and what effect this has on the US economy, in the video below.

Cross posted at  Wake up America

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ICE Whistleblower Drops Bombshell: La Raza Running Obama’s Immigration

Saturday, May 11, 2013 21:11

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(Before It's News)

In this shocking interview, ICE (Immigration Customs Enforcement) Union President Chris Crane was invited on to the Mark Levin Show Thursday night to explain how the Obama administration has been ‘cooking the books’ on immigration enforcement. What he had to say was startling. ICE, given the task of protecting Americans and America, are unable to do so and to hear a man like Crane speak out shows what we are up against: Immigration enforcement is run by La Raza.:

The head of the union representing members of the Immigration and Customs Enforcement division of the Homeland Security Department on Thursday stated that immigration enforcement is being run by leaders of a racist group known as La Raza (“The Race”).

According to Chris Crane, the current president of the union for ICE agents, the National ICE Council, President Barack Obama, Secretary of Homeland SecurityJanet Napolitano, and ICE Director John Morton have all but abdicated their leadership in the enforcement of immigration laws and the protection of U.S. borders and citizens.

In the first video ICE whistleblower Crane shares his startling story while in the second video below we learn that Crane and fellow ICE agents have filed a lawsuit against DHS head Janet Napolitano and the Department of Homeland Security. First, from The Right Scoop.:

This is huge. According to ICE Union president Chris Crane, ICE agents can no longer make street arrests of people they suspect to be illegal aliens, illegal alien gang members or illegal alien criminals, despite having the authority to do so by laws enacted by Congress. He says they are under orders to wait until the illegal alien commits a crime, gets arrested by law enforcement and booked into a jail before they can even intercede. Much more below.

When it comes to cooking the immigration books, Crane says the record number of deportations that the Obama administration touts is a complete fraud. He calls it a shell game, saying what really happens is illegal aliens caught crossing the border by the Border Patrol and then sent back across are now added to ICE’s numbers of deportations, thus inflating the numbers immensely. Crane said last year over 50% of the deportations in ICE’s numbers were from those the border patrol agents caught and sent back across.

The first video contains part of Levin’s interview with Crane, including Crane’s admission that LaRaza is running Obama’s Immigration department; the second video shares with us the news of ICE and Crane’s lawsuit against Janet Napolitano. 

Thanks and respect goes out to ICE and Chris Crane for having the courage to speak out loudly and clearly. How in the world is the Obama administration and the Department of Homeland Security getting away with this? Aren’t they supposed to be protecting us? 

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Obama To Set Gitmo Terrorist Free ‘Because He Took Up Yoga’

Obama To Set Gitmo Terrorist Free ‘Because He Took Up Yoga’

Just when you think things couldn’t get crazier with Obama, on the heels of releasing 5 of the ‘worst of the worst’ terrorists from Gitmo, Obama is now releasing more terrorists for the most flimsy reasons you’ve ever heard:
- One because he took up yoga and read a biography of the Dalai Lama
- Another because he adopted a ‘positive attitude’
- And Osama Bin Laden’s personal bodyguard is to be released because he wants to start a “milk and honey farm”
The Periodic Review Board has cleared 78 of the remaining 149 prisoners for release and has more hearings scheduled for this summer. Many of these guys were once classified as ‘forever prisoners’ because of the threat they posed.
30% of those released has returned to fight against us – this report is by Obama’s own director of national intelligence.

Desperate to empty the Guantanamo Bay prison by the end of his term, Obama quietly is giving “get out of jail free” cards for the flimsiest of excuses.
One al Qaeda suspect captured in Afghanistan is considered reformed because he took up yoga and read a biography of the Dalai Lama. Another is eligible for release because of his “positive attitude.”
And one longtime detainee, a former bodyguard for Osama bin Laden, is now harmless because he’s going to start a “milk and honey farm.”
The Periodic Review Board already helped clear 78 of the remaining 149 prisoners for release, documents show, and has scheduled more hearings for this summer.
Many of these men were dubbed “forever prisoners” because of the threat they posed to the US — with intelligence officials warning that, if free, they would return to the jihad to kill Americans.
Based on past cases, that’s a good bet.
In a report on detainee recidivism, Obama’s own director of national intelligence this year documented that 178, or 29 percent, of the 614 prisoners already transferred from the prison have been confirmed to have, or are suspected of having, re-engaged in terrorism.
That means for every three freed from Gitmo, one has rejoined the war against us. Intelligence analysts admit their ability to track all former detainees is limited, so the recidivism rate may, in fact, be much higher.
One notorious recidivist, Abdullah Gulam Rasoul, became the Taliban’s operations commander in southern Afghanistan soon after his 2007 release from Gitmo. He was blamed for masterminding a surge in roadside attacks against American troops and organizing assaults on US aircraft in Afghanistan.
Another repeat terrorist is Said Ali al-Shihri, who after his 2007 release ran al Qaeda’s Yemeni branch and helped plan the deadly bombing of the US Embassy there.
Already, one of the five Taliban leaders freed last week in exchange for Bergdahl — Mullah Noorullah Noori — has pledged to return to fight Americans in Afghanistan.
Obama’s terrorist parole board was established in 2011. He appoints its members — officials from the Justice Department, Pentagon, State Department and Homeland Security — without a congressional confirmation process. It is secretive and lacking in accountability.
In setting up the Periodic Review Board, meanwhile, Obama prohibited members from relying on information that has been obtained as a result of “cruel, inhuman or degrading treatment (in order) to support a determination that continued law of war detention is warranted for a detainee.”

The bias against interrogation evidence potentially opens up the release of some of Gitmo’s hardest cases, including al Qaeda leader Abu Zubaydah, 2002 Bali bombing mastermind “Hambali,” and Mohammed al-Qahtani, the suspected 20th hijacker of the 9/11 attacks.
But these releases won’t cause the same outcry, because it’s being done in virtual secrecy. Already, more than 600 prisoners have been transferred out of Gitmo with little fanfare. Two hundred of them were sent back to Afghanistan.
As defense lawyer David Remes explained to Al Jazeera news network, “The Periodic Review Board is likely to be predisposed to approval to transfer because the idea here is to close down Guantanamo.”

Source: nypost.com

Photo: nypost.com

Obama To Release Bin Laden’s Bodyguard From Gitmo Because He Wants To Start A ‘Milk & Honey Farm’

(Gateway Pundit) -- It just keeps getting crazier and crazier…
Barack Obama is going to release Osama Bin Laden’s personal bodyguard from Gitmo because the prisoner says he wants to build a milk and honey farm.

The New York Post reported:

If you thought President Obama’s release of five top Taliban commanders in exchange for POW Bowe Bergdahl was bad, wait until you see what his Gitmo parole board plans.

Desperate to empty the Guantanamo Bay prison by the end of his term, Obama quietly is giving “get out of jail free” cards for the flimsiest of excuses.

One al Qaeda suspect captured in Afghanistan is considered reformed because he took up yoga and read a biography of the Dalai Lama. Another is eligible for release because of his “positive attitude.”

And one longtime detainee, a former bodyguard for Osama bin Laden, is now harmless because he’s going to start a “milk and honey farm.”

The Periodic Review Board already helped clear 78 of the remaining 149 prisoners for release, documents show, and has scheduled more hearings for this summer. 

As the Bergdahl Heat Increases, Look Who Obama is Throwing Under the Bus Now

June 10, 2014 By Jennifer Burke

Obama stood before the podium and defended his decision to release five of the top Taliban terrorists from Guantanamo Bay in exchange for Sergeant Bowe Bergdahl, who is believed by many to be at the very least a deserter and at worst a traitor. ABC News reported on Obama’s staunch defense of that controversial exchange, one that puts America and American lives in danger.

“Regardless of the circumstances, whatever those circumstances may turn out to be, we still get an American soldier back if he’s held in captivity. True. Full stop,” Obama said at a news conference at the Belweder Palace here this morning. “We don’t condition that. That’s what every mom and dad who sees a son or daughter sent over into war theater should expect from not just their commander in chief but the United States of America.
“The United States has always had a pretty sacred rule. And that is we don’t leave our men or women in uniform behind, and that dates back to the earliest days of our revolution,” he said.
Obama continued the defense of the decision by stating, “”We saw an opportunity. We were concerned about Sergeant Bergdahl’s health. We had the cooperation of the Qataris to execute an exchange, and we seized that opportunity. The process was truncated because we wanted to make sure we did not miss that window.” He even later stated that he made no apologies for the decision.
Now, amid animosity about this decision that was made without following the ‘law of the land’ to inform Congress 30 days before the release of any Guantanamo detainees and the questions surrounding Bergdahl’s desertion along with the belief by some top military officials that he was collaborating with the Taliban, the ‘we’ has turned to ‘he’. Barack Obama, who shallowly claims at times that the buck stops with him, is now pinning the decision on Defense Secretary Chuck Hagel.
According to a report by The Daily Mail, Obama administration officials told Congress on Monday that the final approval for the exchange of Bergdahl for five Taliban members, dubbed “Taliban Dream Team” was made by Secretary Hagel. If the illegal negotiation was actually finalized through a decision by Hagel, would that not negate the argument that Obama, as ‘commander-in-chief’ had the authority to execute the trade?
Rep. Buck McKean (R-CA) perhaps shed the best light on the cowardly hypocrisy by Obama’s changed claim that Hagel was the decision-maker. Rep. McKean said, “It was the president of the United States that came out (in the Rose Garden) with the Bergdahls and took all the credit and now that there’s been a little pushback he’s moving away from it and it’s Secretary Hagel?’

Do you think Obama should have negotiated with terrorists in trading five top Taliban terrorists to free the POW?