by Prof. Michael Hudson

Last month Iceland voted against submitting to British and Dutch demands that it compensate their national bank insurance agencies for bailing out their own domestic Icesave depositors. This was the second vote against settlement (by a ratio of 3:2), and Icelandic support for membership in the Eurozone has fallen to just 30 percent. The feeling is that European politics are being run for the benefit of bankers, not the social democracy that Iceland imagined was the guiding philosophy – as indeed it was when the European Economic Community (Common Market) was formed in 1957.

by Paul Craig Roberts

These are discouraging times, but once in a blue moon a bit of hope appears. I am pleased to report on the bit of hope delivered in March of 2011 by Michael Spence, a Nobel prize-winning economist, assisted by Sandile Hlatshwayo, a researcher at New York University. The two economists have taken a careful empirical look at jobs offshoring and concluded that it has ruined the income and employment prospects for most Americans.

To add to the amazement, their research report, “The Evolving Structure of the American Economy and the Employment Challenge,” was published by the very establishment Council on Foreign Relations. http://www.cfr.org/industrial-policy/evolving-structure-american-economy-employment-challenge/p24366

by Frederik Andersson

Obama’s much publicized speech on 19th of May in which $1bn of aid to Egypt was pledged is a deception of the nature and object of the proposed transferal of funds.

At G8’s Summit of Deauville a declaration was issued on 27th of May which stated that in the short term the aim of the G8 is to ensure that political instability does not undermine political reform, and lauded the Egyptian government’s decision to ask for loans from the IMF and the Multilateral Development Bank[1].

by Bob Chapman

by Dean Henderson

If you want to know where the true power center of the world lies, follow the money – cui bono. According to Global Finance magazine, as of 2010 the world’s five biggest banks are all based in Rothschild fiefdoms UK and France.

They are the French BNP ($3 trillion in assets), Royal Bank of Scotland ($2.7 trillion), the UK-based HSBC Holdings ($2.4 trillion), the French Credit Agricole ($2.2 trillion) and the British Barclays ($2.2 trillion).

by Rick Rozoff

The standard-bearers of Anglo-American imperialism in the current epoch, President Barack Obama and Prime Minister David Cameron, met in London on May 25 to discuss the world’s two ongoing wars of aggression, those in Afghanistan and Libya, both under the command of the North Atlantic Treaty Organization dominated by Washington and London.

As well as joining a barbecue for American and British troops in the prime minister’s haunts, in the gardens of Number 10 Downing Street, the two potentates called for continuing to bomb Libya back to the Paleolithic Age.

by Jeffrey Kaye

A great deal of controversy has arisen about what was known about the movements and location of Osama bin Laden in the wake of his killing by US Special Forces on May 2 in Abbottabad, Pakistan. Questions about what intelligence agencies knew or didn’t know about al-Qaeda activities go back some years, most prominently in the controversy over the existence of a joint US Special Forces Command and Defense Intelligence Agency (DIA) data mining effort known as “Able Danger [3].”

by Rady Ananda

At the 64th World Health Assembly underway right now in Geneva thru May 24, a major review of smallpox experimentation will be presented where leaders are expected to call for the destruction of all remaining samples, since the disease has not surfaced in over 40 years. Meanwhile, two biopharm companies are in a spat over a US government awarded contract to develop a smallpox vaccine, as the U.S. continues to refuse to submit to international arms control inspections of its “dual use” biodefense-bioweapons labs.

by Dr. Paul Craig Roberts

The culture of the United States is said to be a youth culture, which is defined in terms of entertainment: sex, rock music or its current equivalent, violent video games, sports, and TV reality shows. This culture has transformed the country and appears on the verge of transforming the rest of the world. There are even indications that secularized Arab and Iranian youth can’t wait to be liberated and to partake of this culture of porn-rock.

by Paul Craig Roberts

In a sensational and explosive TV report, the Pakistani News Agency has provided a live interview with an eye witness to the US attack on the alleged compound of Osama bin Laden. The eye witness, Mohammad Bashir, describes the event as it unfolded. Of the three helicopters, “there was only one that landed the men and came back to pick them up, but as he [the helicopter] was picking them up, it blew away and caught fire.” The witness says that there were no survivors, just dead bodies and pieces of bodies everywhere. “We saw the helicopter burning, we saw the dead bodies, then everything was removed and now there is nothing.”