News Stories

[Shadow Kira01]

China says it 'regrets' incident involving Kyodo reporters

The Chinese Foreign Ministry said Tuesday it could not confirm reports that three Kyodo News employees were assaulted by Chinese authorities in a Beijing hotel room while covering a military parade rehearsal Friday, but that it is ''regrettable that an unpleasant event has occurred for whatever reason.''

The case has probably come down as "closed". The ones who got assaulted by the Chinese authorities will have to simply call it bad luck as that China isn't going to apologize and if there were broken equipment, it was simply unluckiness. Very typical..

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Chinese authorities assault 3 Kyodo News journalists in Beijing

Chinese authorities assaulted three Kyodo News journalists in Beijing on Friday night when they were covering a rehearsal of a military parade the country will stage in the city on Oct. 1, the 60th anniversary of the founding of the People's Republic of China.

I have a bad feeling that the same thing will happen to me in the future.. Let's hope the injuries weren't severe and that China would quickly release the journalists, make an official apology to both the journalists and Japan for inappropriate actions. This is no doubt a misuse of authority.

[LynnieS]

Originally Posted by Shadow Kira01

Chinese authorities assault 3 Kyodo News journalists in Beijing

I have a bad feeling that the same thing will happen to me in the future.. Let's hope the injuries weren't severe and that China would quickly release the journalists, make an official apology to both the journalists and Japan for inappropriate actions. This is no doubt a misuse of authority.

What was the cause of the assault, though? Were the journalists covering something that they were not supposed to touch? It's a pretty sensitive time at the moment, and there was already one guy who got caught earlier for killing 2 guards and wounding several other people.

Sheila Bair considers tapping U.S. Treasury for funds

WASHINGTON – The chairman of the Federal Deposit Insurance Corp. says she is "considering all options, including borrowing from Treasury," to replenish the dwindling fund that insures bank deposits.

"I never say never," FDIC Chairman Sheila Bair told an audience at Georgetown University Friday.

It's Friday afternoon now in the U.S. How many banks are going under at the end of the day, I wonder, and will it push the number past 100?

[Shadow Kira01]

Japan, US agree to deepen alliance

Japan's new foreign minister reassured the U.S. diplomat in charge of the Asia-Pacific region on Friday that Tokyo wants to strengthen bilateral relations despite potential areas of disagreement, including their long-standing military alliance.

"We have issues that still need to be addressed, but I'm committed to deepening the Japan-U.S. alliance to make it sustainable for 30 years, 50 years or even longer," Foreign Minister Katsuya Okada, on his second day on the job, told U.S. Assistant Secretary of State Kurt Campbell.

[Jinto]

Originally Posted by LynnieS

Sheila Bair considers tapping U.S. Treasury for funds
It's Friday afternoon now in the U.S. How many banks are going under at the end of the day, I wonder, and will it push the number past 100?

Lets assume most banks have only 10% of the cash they actually lend to other people/institutions. So the bank insurer needs just the remaining 90% for every bank in a worst case scenario. At the moment 3% of the $ pool is available in the form of money (printed). The rest is just bits and bytes and maybe some documents that prove it is there (treasury bonds...). So if the treasury is lending like 90% new bits and bytes (worst case) that would generate like 99.6% virtual money and 0.4% printed money.
There is only one question. Why are they allowed to make money out of thin air but counterfying money is considered illegal?

[Vexx]

Originally Posted by Jinto

Lets assume most banks have only 10% of the cash they actually lend to other people/institutions. So the bank insurer needs just the remaining 90% for every bank in a worst case scenario. At the moment 3% of the $ pool is available in the form of money (printed). The rest is just bits and bytes and maybe some documents that prove it is there (treasury bonds...). So if the treasury is lending like 90% new bits and bytes (worst case) that would generate like 99.6% virtual money and 0.4% printed money.
There is only one question. Why are they allowed to make money out of thin air but counterfying money is considered illegal?

Its mostly an illusion... just a fantasy enough people mutually agree to for long enough.

[Slice of Life]

The trick is, when somebody gives his money to the bank and the bank to somebody else, to make all three parties believe that it's actually theirs at any given moment. Except that's more like 30 parties in reality, thanks to our sophisticated financial economy.

[Xion Valkyrie]

Burglar decides to log onto facebook while robbing a house, forgets to log out afterwards:

http://www.journal-news.net/page/con...id/525232.html

[LynnieS]

Originally Posted by Jinto

Lets assume most banks have only 10% of the cash they actually lend to other people/institutions. So the bank insurer needs just the remaining 90% for every bank in a worst case scenario. At the moment 3% of the $ pool is available in the form of money (printed). The rest is just bits and bytes and maybe some documents that prove it is there (treasury bonds...). So if the treasury is lending like 90% new bits and bytes (worst case) that would generate like 99.6% virtual money and 0.4% printed money.
There is only one question. Why are they allowed to make money out of thin air but counterfying money is considered illegal?

That's more for the central bank than a consumer bank, IMHO. A regular consumer bank can't "make" money appear - unless it's illegally using accounting methods.

Spoiler for LynnieS's quick-and-dirty (and may not be 100% correct :) ) explanation:

Let's say that your bank needs to keep 10% of all deposits as a reserve - i.e., at a given time, it's expected that people will not withdraw more than 10% of the bank's funds. The remaining 90% is available for loans and investments at an interest rate, and the investment return can be used to fund the bank's operations and pay the interest rate offered to the bank's clients. Otherwise, no one will invest his money with the bank.

Consumer banking, I think of it being a competition among banks using rates of return, service level and emotion. Higher rates work best to draw in the largest number of people, IMHO; more people, esp. if they don't have much money to start, are "greedy". Not a bad thing - since there are many reasons why someone wants to earn more - but the only way to give someone that extra, short of a Ponzi scheme say, is for the bank to take on riskier investments.

"Risk" can come from speculation (basically betting that something will take off before everyone else joins in), chasing (my word for joining the crowd that came out after a speculation paid off) and etc.

Risky investments need more reserves to be saved; the odds of a payoff are lower and less likely to happen. In risk management, you are basically supposed:

- To manage your reserves level to keep the minimum needed in case of a write-off. Money in reserve has to be available fast, so the RoR from it is less.

- To offset your risk by investing on things that are increasing in value as your other investments' values drop.

- To write off your investments as soon as they drop below a preset threshold. You lose some money, but hopefully, would save more.

All three demand that the people in charge know exactly what they are getting into and do not go into a "gambling" mode, and they don't. You have people selling stuff (and they may not know themselves of the risks involved), and you also have people, thinking of themselves as being smart, wise and careful, buying. It takes two to tango, yes?

For the U.S. FDIC, if a bank's assets' total value is less that its total liability, I believe that it usually finds 1+ buyers for that bank's assets and then makes everyone whole out of its own money - although possibly not 100% whole... If many banks go under and they have large gaps, the FDIC has to pay off more - risking it running out of money. Are all the problem banks put into receivership in time, though?

[Shadow Kira01]

T. Rex Ancestor: Fearsome Features at Human Scale

The new dinosaur, named Raptorex, lived about 125 million years ago in an area that included what is now northeastern China.

A new dinosaur but it had extincted over 125 million years ago..

Let me guess, in just another couple of weeks.. An animated CG version of the fossilized dinosaur in full color, not to mention in full details will most likely be available.

Venezuela Considers Shooting Down Drug Planes

Venezuelan President Hugo Chavez says he is considering allowing his government to shoot down foreign planes suspected of drug trafficking.

President Chavez said Thursday he is considering the possibility of bringing down aircraft from neighboring Colombia or the United States.

His comments come three days after the U.S named Venezuela as one of three countries that fails to meet international obligations to fight the drug trade.

President Chavez says his country is doing everything it can to combat drugs and called the United States the number one country responsible for drug production and trafficking.

I can see the approval rate of their government plummeting in a few weeks from now. Considering the state of the global economy, nowadays.. Whenever people tackles the drug production lines, they get hated all around. I don't see why the Venezuelan government is any exception. Speaking of which, every plane they shot down, there will always be a new one flying. More over, when they shot down the wrong plane or a mistaken one, the United Nations will be lodging a protest over civilian deaths.

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Originally Posted by Xion Valkyrie

Burglar decides to log onto facebook while robbing a house, forgets to log out afterwards:

http://www.journal-news.net/page/con...id/525232.html

Sounds like something from a comedy but for real..

[ganbaru]

Originally Posted by Shadow Kira01

Venezuela Considers Shooting Down Drug Planes

They bwill only shoot ''foreing'' plane, ... so it won't interfere with the venesuela's own production and it give a good reason to shoot down potential US recon plane pretending they would be mistaken with drog's plane

Anyway, for once Chaves said one true thing about the US being ''the number one country responsible for drug production and trafficking'' which they are, by being the biggest consumer of the said ''product''.

[Jinto]

Originally Posted by LynnieS

That's more for the central bank than a consumer bank, IMHO. A regular consumer bank can't "make" money appear - unless it's illegally using accounting methods.

Yes thats right, I missed a step in this scenario. The federal bank that actually makes money from debt to satisfy the demands of the insurer in the 90% loss scenario (worst case). (Now I do not know how independent FDIC and federal reserve bank really are)

The consumer banks can borrow huge amounts of money from federal banks (may require certain steps of indirection). They only need to keep 10% of this and the rest they can lend to third parties.
But when they lend the money it is insured some way or the other (no matter how risky the lending process is).

The question is, how much of the existing money is backed by securities/bills/nodes/bonds of the US treasury? My assumption is something like 95% or more. That means consumer banks in average own just a fraction of the money they lend.

Of'course consumer banks cannot produce money directly, they need to borrow it from the federal bank that will do the money creation job for them (together with the US treasury). Its just one/several more steps in the process (one additional indirection). (still thats not quite it... there is actually more indirection - primary dealers... I know most private banks are not members of the federal reserve system, but they use that money indirectly)

[yezhanquan]

For something more personal/historical....

http://www.nytimes.com/2009/09/20/ny...ef=global-home

An Iwo Jima Relic Binds Generations

One sentence: Let there be peace.

[aohige]

http://news.tbs.co.jp/newseye/tbs_newseye4238575.html
The body of author of Crayon Shin-chan may have been found:

The author of the mega-popular children's manga & anime Crayon Shin-chan, Usui Yoshito have been missing since one week ago, when he left his home saying he's going to the nearby mountains.
A corpse of a man was found today in the nearby mountain, resembling Mr. Usui.

Authorities have not verfied the identy of the man yet, but it was reported the clothing resembles Mr. Usui's.

Oh my god.

[ZephyrLeanne]

Originally Posted by Shadow Kira01

Chinese authorities assault 3 Kyodo News journalists in Beijing



I have a bad feeling that the same thing will happen to me in the future.. Let's hope the injuries weren't severe and that China would quickly release the journalists, make an official apology to both the journalists and Japan for inappropriate actions. This is no doubt a misuse of authority.

Typical overzealous nationalistic low-level officials. Very normal. After all, it's the 60th National Day in PRC.

Originally Posted by ganbaru

They bwill only shoot ''foreing'' plane, ... so it won't interfere with the venesuela's own production and it give a good reason to shoot down potential US recon plane pretending they would be mistaken with drog's plane

Anyway, for once Chaves said one true thing about the US being ''the number one country responsible for drug production and trafficking'' which they are, by being the biggest consumer of the said ''product''.

Basics of economics: No demand, no supply. He is right in one point, yet he's not helping at all.

[ganbaru]

MAybe a coincidence ( or not) but it was announced than the Venesuela got a credit of 2 billion for weaponery, including some SAM system Antey 2 500 and S-300V.

It would be soem quite heavy weponnery for shooting down some mere drug's plane

[Siddyus]

It would be soem quite heavy weponnery for shooting down some mere drug's plane

You said it. Total Overkill. Its almost as if they are preparing for a bombing run. Im pretty sure most of the credit that are suppose to be used to buy all those weaponry would just go straight into their pockets. Typical.

[Vexx]

Originally Posted by aohige

Oh my god.

http://newsonjapan.com/html/newsdesk/article/76466.php

Yeah, sad news - follow up article on missing Crayon Shin-chan author.

[Shadow Kira01]

Aomori / Book tells of peaceful coexistence in Xinjiang

An Aomori-born woman who spent 12 years teaching Japanese in the Xinjiang Uygur Autonomous Region in China will publish a book later this month based on her experiences there.

While Keiko Kato was writing her book in July, "Sabaku no Tabi, Oashisu no Tabi" (A Journey to a Desert, a Journey to an Oasis), large-scale clashes occurred between Han Chinese and Uygurs in the region, causing her great sadness.

"During the 12 years of my stay, I witnessed the wonderful phenomenon of people of different ethnicities living together. I hope they'll cherish the frame of mind that allows them to understand each other's culture," said Kato, who returned to Japan last year.

It seems that the issue of Xinjiang Muslims is one in the center of controversy.

[Kamui4356]

Originally Posted by Shadow Kira01

T. Rex Ancestor: Fearsome Features at Human Scale



A new dinosaur but it had extincted over 125 million years ago..

Let me guess, in just another couple of weeks.. An animated CG version of the fossilized dinosaur in full color, not to mention in full details will most likely be available.

Looks like they've got a fairly complete skeleton for that one though based on the pic in the article. It's when they're dealing with a few stray bones that the rampant speculation really comes in. When they have that much of the skeleton to work with though, they can make some fairly sound conclusions about it.

[Shadow Kira01]

Taliban leader tells 'invaders' to study history

In his message for the upcoming Muslim holiday of Eid al-Fitr, which ends the fasting month of Ramadan, Omar said the U.S. and NATO should study the history of Alexander the Great, whose forces were defeated by Pashtun tribesmen in the 4th century B.C.

"We would like to point out that we fought against the British invaders for 80 years from 1839 to 1919 and ultimately got independence by defeating" Britain, a statement attributed to Omar said.

"Today we have strong determination, military training and effective weapons. Still more, we have preparedness for a long war and the regional situation is in our favor. Therefore, we will continue to wage jihad until we gain independence and force the invaders to pull out," it said. The statement's authenticity could not be verified but it was posted on a Web site the Taliban frequently uses.

If I am not mistaken, the terrorists were originally sponsored by the US government to wreck havoc against the Soviets but since the disbandment of the Soviet Union, a series of events had occurred and things took quite a turn. The former allies of the United States had end up fighting the United States over issues relating to religion. Since ancient times, both the Islam and the Catholic/Christians were somewhat swore enemies of some sort, not sure about the details.