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Gary Edwards

Gary Edwards's Public Library

  • The big win here is that instead of using one language on the front end and another on the back end, as people have been doing, with Meteor you can just use JavaScript. And instead of needing separate codebases for iOS, Android and the web, with Meteor you can have just one and convert to native with PhoneGap. (The first of these is unique to Meteor.)
  • “JavaScript needs to grow up and become a complete platform the way Java and .NET are complete platforms,” says Schmidt. Meteor is building that platform as a centralized solution that can support developers that don’t have access to Facebook-level resources. He uses the analogy of the relational database as a pivotal technology that quickly let expert developers spend time on more interesting things than maintaining databases and gave novice developers the ability to make their own databases in the first place. “When technology has that shape—when there’s a missing piece and it’s not just a matter of integrating a bunch of things that already exist—that’s when there’s an opportunity to get a result like this,” he continues. Meteor, Schmidt contends, is such a missing piece.
  • One of the most compelling slides Schmidt presented to me is the one above. It shows how Meteor is unique among programming platforms in that it is highly valuable to both expert and novice developers. In contrast, C++ or Apple’s Cocoa are for serious coders only and Apple’s Hypercard programming tool was of little use for anyone but a beginner (even in 1987!)  That Meteor is “isomorphic” in this way as well is important for the speed of its adoption. Ease of entry facilitates the initial spreading of the user base. But the enthusiastic approval of power users gives the novices the motivation to invest time in the technology and improve their skills. Meteor handles a ton of things that novice developers don’t even know about and that experienced developers know are really hard.

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  • Meteor is based on one simple principle, “data on the wire.” Unlike traditional web servers, “Meteor doesn’t send HTML over the network. The server sends data and lets the client render it.” From this first principle follow the others that have evolved in the four years since YC.
  • Thin client web browsers receive complete HTML pages—”presentation on the wire”—and just need to draw those pages on a screen. In contrast, a thick client receives data and uses it to compile the view that it draws on a screen. Over time, web browsers have become thicker and thicker as they used Javascript to render parts of pages in intelligent ways. But this has been, at best, a hybrid kludge. It is a major headache to keep track of what the server is sending and then what the browser is rendering on top of it.

     

  • Focusing on “data on the wire” cleans this mess up. Old school web pages are “stateless.” They don’t natively retain data between the calls to the server that refresh the screen (cookies and other devices are used to retain state). Web apps, on the other hand, are “stateful.” The data values present within the app when you close it are still there when you reopen it. Think about an app as a game of tic-tac-toe. The two perpendicular sets of parallel lines define nine squares. Each square can be empty or filled with an X or an O. There are a few rules that define the play. This setup is the app. It will be there reliably when you open the app with no server call required.

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Jul 29, 15

"What is an app? Most people think of them as the little, self-contained bits of software on our phones. They have shiny icons, and we get them through app stores. Sometimes they are useful. Often they are amusing distractions.

But there is another way to think about apps in terms of the data they consume and create. In this view, apps are what will turn the global network of smartphones into a massively distributed computing platform. Everything we know about user experience still applies in this world, but reducing friction for each user is only part of the problem. The bigger issue becomes how to coordinate the data bouncing around between all of these devices and servers in the cloud. This coordination is the primary problem that the JavaScript app platform Meteor has set itself to solve.

In order to scale, the solution must be simple. Skilled app developers and data scientists are already in scarce supply. Software may be eating the world, as Marc Andreessen says, but not, in fact, nearly fast enough to keep pace with global problems it could be solving. Andreessen Horowitz (a16z), has invested in both Meteor’s A and B rounds (Matrix Partners led the B round with total funding now more than $30 million). Pointing to the road not taken by the browser company he co-founded, Andreessen has said “Meteor is what we should have built in 1994 at Netscape.”"

  • To adequately understand the opportunity on which Meteor is trying to capitalize, you need a racewalk through the history of computing. Meteor CEO, Geoff Schmidt, put me through these paces in a recent meeting at his HQ in San Francisco. First there were mainframe computers that people accessed through dumb terminals. With the rise of the PC, networks of autonomous machines shared databases on servers over corporate networks. Software companies completely rewrote their applications to create better graphical user interface-based experiences that took advantage of the processing power on people’s desks. Superficially, the web seems to mimic this client-server model. But for most of its history it has resembled the mainframe era with the “cloud” of web servers sending entire web pages to dumb browsers. Web browsers (like the mainframe terminals before them) are “thin” clients in comparison to PCs which are “thick” clients.
  • Web browsers, however, had a “massive distribution advantage,” says Schmidt, which “overwhelmed the user experience advantage” of more powerful desktop app clients. The rise of the smartphone has made the mobile web or app client more and more powerful. 20 years on, we’re back to “thick” clients. That supercomputer in your pocket can do a lot more than render a web page on its screen, and this has shifted the pendulum back towards distributed processing.
  • The astounding scale of this revolution is captured by Benedict Evans, an a16z partner, in his presentation, Mobile: It Changes Everything. “An iPhone6 CPU has 625 times the transistors than a 1995 Pentium,” he points out. And on the launch weekend for the iPhone 6, “Apple sold ~25x more CPU transistors than were in all the PCs on earth in 1995.”

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Jul 29, 15

"he Enterprise File Synchronization and Sharing (EFSS) marketplace is ripe for disruption, but probably not via a huge technological breakthrough of some sort.

EFSS options are maturing quickly and it’s becoming quite commoditized. Consider that, according to Gartner, there are more than 140 vendors in the space — and that’s too many.

Sixteen of them meet the criteria for Gartner’s Magic Quadrant (MQ) for EFSS. That’s probably more than the market needs, but it’s likely to be a problem that solves itself.

Industry Consolidation
Monica Basso, Charles Smulders and Jeffrey Mann, who researched and wrote the Gartner report, expect less than 10 percent of today's stand-alone EFSS offerings will exist by 2018.

To be frank, not every vendor in the MQ wants to be classified as an EFSS player. Alastair Mitchell of Huddle has told me that he thinks of EFSS as an “albatross” and doesn’t want his company to be known for “shuffling files back and forth.” More on that in our next article.

Gartner defines EFSS as a ”range of on-premises or cloud-based capabilities that enables individuals to synchronize and share documents, photos, videos and files across mobile devices, such as smartphones, tablets and PCs.”

The analysts noted that “sharing” can take place between coworkers, suppliers, customers and others, mobile devices and as content exchange between apps. “Security and collaboration support are critical aspects for enterprises to adopt EFSS,” they wrote.

The Gartner analysts also wrote that beyond standard EFSS functionalities, the vendors they selected might offer additional features around mobility, security, administration and management, back-end server integration via connectors to corporate servers (for example, SharePoint) and cloud services, content manipulation, collaboration and more.

Software EFSS products may or may not have one main repository. Some products integrate with existing third-party repositories that are deployed on-premises or in the cloud.

Cut to the Chase
That being said, who are the Leaders in this year’s Gartner MQ for EFSS?

Either Citrix or Syncplicity takes the top prize, depending on whether you rate “Ability to Execute” (Citrix) or “Completeness of Vision” more important.

Box ranks third in the Leaders Quadrant and Accellion is the fourth and final Leader. It’s worth noting, too, that Egnyte barely missed being ranked a Leader."

  • Why Citrix Rules

     

    Citrix executes on basic EFSS functionalities, is HIPAA and FINRA compliant and provides a “single pane of glass” to view content from almost anywhere, including from repositories like Microsoft’s One Drive for Business, Dropbox, Box, Google Drive and others. It also shines in the Citrix ecosystem when integrated with Citrix XenMobile, Citrix Receiver and Citrix Desktop. Better yet, it’s practically a poster child for International compliance via its Restricted Storage Zones feature, which takes care of the concerns that European Enterprises have.

Jul 29, 15

"Does Trump trump?

By Angelo M. Codevilla

“In the land of the blind,” so goes the saying, “the one-eyed man is king.” Donald Trump leapt atop other contenders for the Republican presidential nomination when he acted on the primordial fact in American public life today, from which most of the others hide their eyes, namely: most Americans distrust, fear, are sick and tired of, the elected, appointed, and bureaucratic officials who rule over us, as well as their cronies in the corporate, media, and academic world. Trump’s attraction lies less in his words’ grace or even precision than in the extent to which Americans are searching for someone, anyone, to lead against this ruling class, that is making America less prosperous, less free, and more dangerous.

Trump’s rise reminds this class’s members that they sit atop a rumbling volcano of rejection. Republicans and Democrats hope to exorcise its explosion by telling the public that Trump’s remarks on immigration and on the character of fellow member John McCain (without bothering to try showing that he errs on substance), place him outside the boundaries of their polite society. Thus do they throw Br’er Rabbit into the proverbial briar patch. Now what? The continued rise in Trump’s poll numbers reminds all that Ross Perot – in an era that was far more tolerant of the Establishment than is ours – outdistanced both Bush 41 and Bill Clinton before self-destructing, just by speaking ill of both parties before he self destructed.

Republicans brahmins have the greater reason to fear. Whereas some three fifths of Democratic voters approve the conduct of their officials, only about one fifth of Republican voters approve what theirs do. If Americans in general are primed for revolt, Republican (and independent) voters fairly thirst for it.

Trump’s barest hints about what he opposes (never mind proposes) regarding just a few items on the public agenda have had such effect because they accord with what the public has already concluded about them. For example,Trump remarked, off the cuff, that “Mexico does not send us its best.” The public had long since decided that our ruling class’s handling of immigration (not just from Mexico) has done us harm. The ruling class – officials, corporations, etc.- booed with generalities but did not try to argue that they had improved America by their handling of immigration. The more they would argue that, the more they would lose. At least if someone more able than Trump were leading against them."

Jul 09, 15

"Doug Casey: I don't see a real recovery until they stop debasing the currency, radically cut government spending and taxation and eliminate most regulation. In other words, cease doing the things that caused this depression. And that's not going to happen until there's a collapse of the current order.

Things have cyclically improved since the height of the crisis of 2008-09. The trillions of currency units created by the Federal Reserve have jammed the stock market higher and kept the big banks from going under. What surprises me is that retail prices have not moved as significantly as I would have expected. The reason, I believe, is that most of that money is still sitting in financial institutions. It has gone into cash out of fear, into stocks because they represent real wealth with earning power and into various speculative assets like artwork and collectible cars. Real estate has recovered somewhat, not because of strong fundamentals but strictly because of money creation.

This isn't going to last because the way you get wealthy is by producing more than you consume and saving the difference – not by consuming more than you produce, and borrowing the difference. With the Fed keeping interest rates at artificially low levels, hoping to increase consumption, they're making it very foolish to save – when you get ½% or 1% on your savings. So people are saving less and they're borrowing more than they otherwise would. This is a formula for making things worse, not better. They are, idiotically, doing exactly the opposite of what they should be. Although, I hasten to add, I hate to pontificate on what the Fed "should" do. In point of fact, the Fed should be abolished; the market, not bureaucrats, should determine interest rates. We wouldn't be in this pickle to start with if the government wasn't involved in the economy. In fact, if it wasn't for the state, I suspect we'd all have a vastly higher standard of living, and would be colonizing the Moon, Mars and the asteroid belt.

I expect that we'll go out of the eye of the storm this year; it's overdue, actually. The analogy I like to use is that the leading edge of the storm was in 2007, now we're in the eye of the hurricane, and when we move into the trailing edge it's going to be much, much worse and last much, much longer than it was in the leading edge."

  • This isn't going to last because the way you get wealthy is by producing more than you consume and saving the difference – not by consuming more than you produce, and borrowing the difference. With the Fed keeping interest rates at artificially low levels, hoping to increase consumption, they're making it very foolish to save – when you get ½% or 1% on your savings. So people are saving less and they're borrowing more than they otherwise would. This is a formula for making things worse, not better.
  • They are, idiotically, doing exactly the opposite of what they should be.
  • In point of fact, the Fed should be abolished; the market, not bureaucrats, should determine interest rates. We wouldn't be in this pickle to start with if the government wasn't involved in the economy.

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Jul 09, 15

"During 2015 the attack on bullion prices has intensified, driving the prices lower than they have been for years. During the first quarter of this year there was a huge upward spike in the quantity of precious metal derivatives.

If these were long positions hedging the banks' Comex shorts, why did the price of gold and silver decline?

More evidence of manipulation comes from the continuing fall in the prices of gold and silver as set in paper future markets, although demand for the physical metals continues to rise even to the point that the US Mint has run out of silver coins to sell. Uncertainties arising from the Greek No vote increase systemic uncertainty. The normal response would be rising, not falling, bullion prices.

The circumstantial evidence is that the unregulated OTC derivatives in gold and silver are not really hedges to short positions in Comex but are themselves structured as an additional attack on precious metal prices.

If this supposition is correct, it indicates that seven years of bailing out the big banks that control the Federal Reserve and US Treasury at the expense of the US economy has threatened the US dollar to the extent that the dollar must be protected at all cost, including US regulatory tolerance of illegal activity to suppress gold and silver prices."

Jul 09, 15

"There was “not even a smidgen of corruption” at the IRS, Barack Obama told us in February 2014, though he conceded “there were some bone-headed decisions.” That was a bald-faced lie at the time, and new information only reinforces that conclusion.

While the mainstream media turns a blind eye and deaf ear, Judicial Watch has continued digging for information regarding IRS targeting of Tea Party and Patriot groups leading up to (and almost surely aiding in) Obama’s re-election in 2012. And they discovered some serious collusion that sounds more like something out of Soviet Russia or Red China than here in the U.S.

“Judicial Watch … released new Department of Justice (DOJ) and Internal Revenue Service (IRS) documents that include an official ‘DOJ Recap’ report detailing an October 2010 meeting between Lois Lerner, DOJ officials and the FBI to plan for the possible criminal prosecution of targeted nonprofit organizations for alleged illegal political activity.”

In other words, imprisoning political opponents.

Remember when the IRS initially blamed the whole fiasco on a couple of low-level employees in Cincinnati? Good times.

The documents reveal numerous conversations between the three agencies, including Lois Lerner, about creative ways to charge and jail conservatives for the “crime” of political activity opposing Obama. To do so, the DOJ and FBI needed to illegally obtain taxpayer information from the IRS. So the IRS sent the FBI more than one million pages of taxpayer information on 113,000 non-profit groups."

  • And they wonder why people don’t trust the NSA’s mass metadata collection.

      

    The conversations that began at least in 2010 continued for three years. In fact, two days before Lerner “apologized” and outed the whole conspiracy, she wrote an email to the acting IRS commissioner’s chief of staff detailing ongoing discussions with DOJ officials.

      

    “These new documents show that the Obama IRS scandal is also an Obama DOJ and FBI scandal,” said Judicial Watch President Tom Fitton. “The FBI and Justice Department worked with Lois Lerner and the IRS to concoct some reason to put President Obama’s opponents in jail before his reelection. And this abuse resulted in the FBI’s illegally obtaining confidential taxpayer information. How can the Justice Department and FBI investigate the very scandal in which they are implicated?”

  • The answer to that last, albeit rhetorical, question is that they can’t and they aren’t. Any “investigation” by the DOJ or FBI will no doubt exonerate anyone of importance in the Obama administration. If any guilt is unavoidable, it will be hung around the necks of those rascals in Cincinnati or some other unfortunate scapegoat. All while Lerner continues to enjoy her comfortable retirement, and Obama himself remains untouched.

      

    On top of the serious breach of law and abuse of power in targeting Obama’s political opponents, the agencies' carefully crafted stonewall blocked the timely release of information. As with Hillary Clinton’s emails and the Benghazi cover-up, the slow bleed of information leaves the public tired of hearing “old news” and makes it all the more certain the perpetrators won’t face real accountability, much less justice.

  • Finally, we’re reminded of a commencement speech Obama delivered in 2009 at Arizona State University, after university officials declined to give Obama an honorary doctorate. Obama “joked” that “[university president Michael] Crowe and the Board of Regents will soon learn all about being audited by the IRS.” Clearly, that wasn’t much of a joke.
Jul 05, 15

"One of the best parts about being in marketing is that most of us can work anywhere and everywhere -- as long as we have an internet connection, it's relatively easy for us to get most our day-to-day work done. To publish that blog post, send that email, or set up that email nurturing workflow, we simply need to connect to Wi-Fi and get to work. 

But an internet connection doesn't solve everything we need to accomplish during the day. Often, we need to communicate with team members, project managers, and freelancers -- and when you're remote, that communication can get a little ... messy. 

To help make it easier for their employees to have flexible work arrangements, many companies are discovering and implementing new tools and resources. To help you figure out which tools might be handy for your team's work arrangement, we compiled some of the best ones my friends on the Inbound.org discussion boards suggested for remote working. Check 'em out below.

When You Need to Stay Organized"

Jul 02, 15

"From the earliest days as a marketing slogan, the elusive concept of the so-called paperless office may finally be taking shape, if anecdotal evidence is anything to go by. A growing number of small businesses and startups, unencumbered by legacy processes, are quietly ditching printouts for an all-digital ecosystem, buoyed by soaring BYOD ownership and growing familiarity with a plethora of cloud services.


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Perhaps not-so-surprisingly, the driving factors are collaboration and productivity, as opposed to any ecological or “green” concerns. With this in mind, we take a look at the advantages of going digital, and outline how workers can embrace this new digital-first paradigm to collaborate more, do things faster and work more efficiently than ever."

  • Why go digital?

    One advantage for businesses to ditch paper– and perhaps the single most important factor – is convenience. Digital data is both highly searchable, and is also easily transferrable. What’s more, the mature state of cloud services today means that you can expect the information you store online to be available across whatever devices you may own -- be it a smartphone, tablet, PC laptop, Mac computer – or even a Web browser at a cybercafé or hotel lobby when on a vacation.

    Digital documents are also clearly suited to data backup. Despite the calibration required to get things set up in a way that works for you, it’s infinitely easier to make a copy of digital data versus photocopying stacks of printed invoices or bills. And a growing list of cloud storage services (Dropbox and SugarSync, to name two) have taken document storage a step further by saving multiple versions of a doc so you can revert to earlier versions of a document if necessary.

  • 1. Choose a digital notebook system

    One of the starting points for digitizing your business docs is to decide on a platform for filing away notes, ideas and documents. Not only does it serve a critical role as a virtually unlimited digital repository for filing important details, charts, audio clips or screen grabs, a good digital system will make it easy to organize and find the information when you need it.

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Jul 01, 15

"Microsoft quietly updated its Office 2016 Preview apps for early adopters over the past two weeks with a slew of new features the company announced in a round-up Wednesday.

The new features let people who have installed the public beta of Microsoft’s forthcoming productivity suite update try out real-time collaboration capabilities that will be rolling out more broadly later this year, along with other changes that make it easier to find particular functions and gather contextual information about what they’re working on.


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Word 2016 now has support for Live Typing, which allows desktop users to see the edits their colleagues are making to a shared document in real time. It builds on a feature unveiled last month that let users see where colleagues were working within a document, but didn’t immediately show the words they added. Similar features should be coming to other Office apps with future updates, so that people can work in real time on Excel spreadsheets and PowerPoint presentations.

Microsoft already offers a real-time, co-authoring feature inside Office Online, but this update brings those capabilities onto the desktop for the first time within Microsoft’s productivity suite. It will be possible for people to collaborate in real time across Office Online and Office on the desktop when Office 2016 launches later this year, but until then, users will have to choose between collaborating inside a Web app or inside a desktop app. That feature set puts Office in closer competition with Google’s productivity suite, which has grown in popularity and features robust support for real-time collaboration.

"

  • Office 2016 won’t release with Windows 10 next month, but Microsoft has said that the next version of its productivity suite will be available later this year to go along with the newly released operating system. Until then, anyone who wants to try out the future of Office can install the public beta version of the app, which is available as a free trial or through Office 365.
Jun 25, 15

"On Sunday, investor Marc Andreessen launched into another one of his famous tweetstorms.

This time, Andreessen was inspired by Jessica Lessin's article in The Information, “Silicon Valley’s Frontman Problem.” In it, Lessin questioned whether Silicon Valley was accurately being represented by its figureheads who are most often cited — including Andreessen, Peter Thiel, and Elon Musk.

In response to Lessin's article, Andreessen tweeted out Twitter handles that belong to 55 people — “only a highly abridged selection," he mentioned — who "aren't widely famous (yet) but who routinely say interesting and provocative things," Andreessen noted.

We've compiled a slideshow of the 55 people Andreessen included in his tweetstorm. They're investors, company CEOs and founders, doctoral candidates, pundits, and writers. There's even one high school senior on the list."

  • nspiration Gallery

      

    A collection of photos using products from Butterfield Color.

      
      
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Jun 25, 15

"Web mail, calendaring, task management, conferencing, and file sharing have become essential parts of our lives and work. They live on the web, but increasingly on mobile devices. At stake is our data and who owns it, and at the enterprise level it’s a game of lock-in and standardisation that can make users feel like peasants of Westeros in giant games played by titans of the tech industry.

Roundcube.net is a platform created with the goal of enabling applications that would feel native to any platform and on any device. Ten years ago the Berne, Switzerland-based project used the most advanced technologies and was ultra-modern, dynamic, and beautiful. Reviewers and users were delighted and Roundcube quickly became the default choice for many governments, universities, companies and individuals.

The results to date?

cPanel reports that Roundcube is dominant with 62 percent of all users in its systems. The technology is installed on approximately half a million websites globally, and it’s used daily by hundreds of millions of users. Roundcube is integrated into major commercial offerings such as the Kolab Enterprise Collaboration suite, and offers a full Exchange replacement for organizations and corporations all the way up to the Fortune 50.

Simply put, Roundcube is the unsung work horse of web mail.

But a decade is an eternity in technology. When Roundcube started, mobile devices were large, clunky affairs used by the few. Today they are the most commonly used communication device. Roundcube Next is today’s answer to that radical change. Instead of once more embarking alone on that ten year journey, Roundcube Next is about building a strong, healthy and diverse Open Source community to achieve that task within 12 to 18 months."

Jun 23, 15

"TPP will allow evil corporations like Monsanto to rule over national governments

One major aim of TPP is to punish countries that attempt to mandate the labeling of genetically-modified organisms (GMOs) or ban them outright. Key provisions in the international decree would allow corporations like Monsanto to actually sue governments for trying to protect their people against GMOs, all in the name of fostering "free trade."

Farmers would also be prohibited from saving seeds under the plan as countries are forcibly grafted into a regulatory paradigm governed by patent monopolies. Although not every country attending the TPP meetings is on board with this agenda, the stated goal is to force all negotiating parties to make patents on plants available as well as to protect plant varieties under the 1991 Protection of New Varieties of Plants Act (UPOV 1991).
"

  • TPP will allow evil corporations like Monsanto to rule over national governments

    One major aim of TPP is to punish countries that attempt to mandate the labeling of genetically-modified organisms (GMOs) or ban them outright. Key provisions in the international decree would allow corporations like Monsanto to actually sue governments for trying to protect their people against GMOs, all in the name of fostering "free trade."

    Farmers would also be prohibited from saving seeds under the plan as countries are forcibly grafted into a regulatory paradigm governed by patent monopolies. Although not every country attending the TPP meetings is on board with this agenda, the stated goal is to force all negotiating parties to make patents on plants available as well as to protect plant varieties under the 1991 Protection of New Varieties of Plants Act (UPOV 1991).
  • "The TPP will eliminate all nation states as the ruling authority and it will be supplanted by corporate authority," adds Hodges. "This will be made possible because of an obscure provision of the TPP known as the Investor State Dispute Settlement (ISDS)."

    "ISDS allows corporations to sue governments, for any government action (at any level, including local government level) which hinders a corporation's future profits. Literally, Monsanto could provably be poisoning the entire population of a nation and the nation could do nothing which might result in the loss of profits to Monsanto."
  • The existing patent monopoly provisions of UPOV 1991 combined with TPP's even stricter one will create an agricultural nightmare for farmers who wish to grow clean, patent-free foods as well as save the seeds of their crops year after year. This will hit poorer farmers particularly hard. The new-found power of multinational corporations under TPP to dictate the agricultural destinies of signatory countries represents yet another plank in the establishment of corporations eventually holding absolute control over food.

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Jun 23, 15

"Several top kingpins behind the global financial collapse of 2008 have reportedly agreed to plead guilty for their sinister crimes, but under one major condition: that they won't actually be held legally culpable. Five of the world's largest banks -- Citigroup, JPMorgan Chase, Barclays PLC, the Royal Bank of Scotland and UBS -- have all confessed to deliberately manipulating the global foreign exchange markets for illicit gain, but all of them are getting off the hook with petty fines rather than jail time and tangible operations penalties.

The collective sum of these fines clocks in at around $9 billion, a sizable amount in the eyes of the average person. But for the international banking cartel, this is just a drop in the bucket -- a proverbial slap on the wrist when a heavy "whoopin'" would have been a far more appropriate penalty. These are the same corrupt banks, of course, that ripped off the public for trillions of dollars by rigging the financial markets and peddling bad loans and fake foreclosure papers.

Nevertheless, not a single guilty bank is really being penalized in any substantial way that will actually affect business as usual. According to Fox Business, the $9 billion worth of settlements reached between these banks and the U.S. Justice Department represents a mere fraction of the trillions of dollars that they stole from average folks like you and I who, if we did anything even remotely close to what these banks did, would probably face life in prison."

  • "The effect of the guilty pleas will be essentially zero, beyond the immediate costs of the fines levied on the institutions," wrote Andre Damon for WSWS.org. "As the Times put it, 'life will go on, probably without much of a hiccup.'"
  • Besides the fact that none of the banking executives involved in the racket face any criminal penalties, the banking entities themselves made sure to establish special "deferred-prosecution agreements" with the federal government allowing them to continue operating as they normally would. In other words, the actual impact of these fines, which are petty to large banks like JPMorgan Chase, is next to nil.
  • "In exchange for pleading guilty and paying these hefty fines, the banks demanded that regulators not ban them from certain business practices," said Andrew Stoltmann, a Chicago securities attorney, about the corruption behind these "penalties."

    "These accommodations render the plea deals effectively useless. The pain of an indictment comes from banks not being able to, as a felon, engage in certain lucrative business practices. By getting the SEC and Labor department to OK the continuation of these business practices, the pleas are not very meaningful."

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