It was not immediately known if there were further injuries.
Alain Merisier. who works at the cafeteria in the Parliament building, told CBC News that said he saw a man in a car at the Centre Block with a long gun.
Witnesses said they then heard shots fired, and there was an unconfirmed report of a person injured outside the Library of Parliament.
Police confirmed the shooting at the War Memorial, and sealed off the area while the injured soldier was given emergency medical aid. He was later put into an ambulance. Read the rest of this entry »
Today, capitalism is blamed for our current disastrous economic and financial situation and a history of incessant booms and busts. Support for capitalism is eroding worldwide. In a recent global poll, 25 percent (up 2 percent from 2009) of respondents viewed free enterprise as “fatally flawed and needs to be replaced.” The number of Spaniards who hold this view increased from 29 percent in 2009 to 42 percent, the highest amongst those polled. In Indonesia, the percentage went from 17 percent to 32 percent.
Most, if not all, booms and busts originate with excess credit creation from the financial sector. These respondents, incorrectly, assume that this financial system structured on fractural reserve banking is an integral part of capitalism. It isn’t. It is fraud and a violation of property rights, and should be treated as such.
This legalization of fraud is essentially one of the main reasons no one went to jail after the debacle of 2008.
In the past, we had deposit banks and loan banks. If you put your money in a deposit bank, the money was there to pay your rent and food expenses. It was safe. Loan banking was risky. You provided money to a loan bank knowing funds would be tied up for a period of time and that you were taking a risk of never seeing this money again. For this, you received interest to compensate for the risk taken and the value of time preference. Back then, bankers who took a deposit and turned it into a loan took the risk of shortly hanging from the town’s large oak tree.
During the early part of the nineteenth century, the deposit function and loan function were merged into a new entity called a commercial bank. Of course, very quickly these new commercial banks realized they could dip into deposits, essentially committing fraud, as a source of funding for loans. Governments soon realized that such fraudulent activity was a great way to finance government expenditures, and passed laws making this fraud legal. A key interpretation of law in the United Kingdom, Foley v. Hill, set precedence in the financial world for banking laws to follow:
Foley v. Hill and Others, 1848:
Money, when paid into a bank, ceases altogether to be the money of the principal; it is then the money of the banker, who is bound to an equivalent by paying a similar sum to that deposited with him when he is asked for it. … The money placed in the custody of a banker is, to all intents and purposes, the money of the banker, to do with it as he pleases; he is guilty of no breach of trust in employing it; he is not answerable to the principal if he puts it into jeopardy, if he engages in a hazardous speculation; he is not bound to keep it or deal with it as the property of his principal; but he is, of course, answerable for the amount, because he has contracted, having received that money, to repay to the principal, when demanded, a sum equivalent to that paid into his hands.
In other words, when you put your money in a bank it is no longer your money. The bank can do anything it wants with it. It can go to the casino and play roulette. It is not fraud legally, and the only requirement for the bank is to run a Ponzi scheme, giving you the money deposited by someone else if they lost your money and you happen to come back asking for your money. This legalization of fraud is essentially one of the main reasons no one went to jail after the debacle of 2008. Read the rest of this entry »
President Obama’s distant second cousin has taken family feuding to a new level in his bid for the Senate.
Dr. Milton Wolf, the radiologist challenging Sen. Pat Roberts (R-Kan.), told The Hill on Monday that while Obama’s a “nice guy,” he believes he’s “the worst president in our time, if not our history…”
A Hayward, Calif., elementary school principal is making an afternoon game of cops-and-robbers considerably more difficult:
An elementary school will hold a toy gun exchange Saturday, offering students a book and a chance to win a bicycle if they turn in their play weapons.
Strobridge Elementary Principal Charles Hill maintains that children who play with toy guns may not take real guns seriously.
“Playing with toy guns, saying ‘I’m going to shoot you,’ desensitizes them, so as they get older, it’s easier for them to use a real gun,” Hill said.
If Hill’s implicit conviction that a child cannot learn to distinguish between a real gun and, say, this, is true, then we have a lot bigger problems than some after-school cowboys-versus-Indians.