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5861  Other / Off-topic / 23-Floor Apt Building Collapses in Downtown Pyongyang (DPRK) Out of the Blue on: May 20, 2014, 07:33:17 PM
#Juche on display.

There's no official number of deaths but it has to be in the hundreds assuming many were working or many thousands if it was during the night. Kim the 3rd is taking no responsibility for it but it is being blamed on the low skilled construction workers (mostly military and people brought in from other state tasks) and the Interior dept guy. Usually, in situation like this of great embarrassment to the Supreme Leader, people are publicly executed but we shall see how this shakes out. It's early morning over there right now so this will likely develop in some fashion in the next day or two.

Here's the news
Analysis
Collapse Highlights Poor Construction Record
Quote
Longstanding concerns over the condition of North Korean buildings have reemerged following the collapse of a 23-story apartment building in downtown Pyongyang on May 13th. The collapsed apartment was part of a residential complex initiated on the orders of Kim Jong Il and completed under Kim Jong Eun. 

According to defectors, the teams mobilized for the construction were made up of servicemen affiliated with the Ministry of People’s Security, and did not include experienced construction workers. Moreover. like the majority of other construction projects in the country, the site suffered from a chronic lack of good quality concrete and steel reinforcements. On those occasions where materials do become available on state projects of this nature, rampant corruption and the disincentives of socialist means of production mean that they are regularly siphoned off and sold.

The apartments formed part of Kim Jong Il era plans to modernize Pyongyang. With an intended completion date of December 2012, construction began in September 2009 in 13 different districts of Pyongyang. However, in 2011 and with the impossibility of completing all projects now clear, the construction of prominent apartments on Changjeon Street in the central Mansudae District was prioritized, and workers were moved there to meet the demand.

At the time, sources reported to Daily NK that the authorities had shifted factory workers to work on residential dwellings on the outskirts of Pyongyang, but as resources all went to the core project resentment grew amid accusations of incompetence.

After Kim Jong Eun came to power, there appeared to be little interest in the project to build "100,000 homes in Pyongyang." The Kim regime is now absorbed in construction projects that cater to specific professions, such as satellite and military scientists and engineers, along with academics from Kim Il Sung University.

Requesting anonymity, one senior defector explained to Daily NK, “Kim Jong Eun goes back and forth. On the one hand he focuses on building up Changjeon Street as part of ‘gift politics’ for high-ranking cadres. It's like he has nothing to do with this particular collapse. If anyone must pay for this collapse of this apartment, it’s Kim Jong Eun.”

Furthermore, the defector said, “The residences on Changjeon Street were completed within a year. It may be that the harmful effects of North Korea’s focus on ‘speed’ cannot be avoided. Only the homes of the top leadership are constructed with high-grade cement, and with the exception of these, it’s not considered at all strange that buildings in the North could crumble and fall at any time.”
http://www.dailynk.com/english/read.php?num=11878&cataId=nk00400

NK Media Reports Pyongyang Apartment Collapse
Interesting as always
Quote
The North Korean state media has reported on the collapse of a multi-story apartment block in Pyongyang last week, noting that it led to loss of life.

“On the afternoon of the 13th a 23-floor apartment in Ansan 1-dong of Pyeongcheon district in Pyongyang collapsed,” a South Korean government official revealed earlier today. “It is normal in North Korea for people to move into apartment buildings before they are officially complete, and it is presumed that 92 households were living in this apartment, too.”

“A large number of people are going to have died in the collapse,” the official concluded.

In a highly unusual step, the North Korean state news agency, Chosun Central News Agency, and Rodong Sinmun, the Party publication, also reported the news today. Using the same article, the two outlets declared that it was “the irresponsibility of workers” who failed to supervise the construction appropriately that had caused the “serious accident” to occur.

Though the article acknowledged that the collapse “claimed casualties,” it did not report how many people died or under what circumstances. Rather, it focused on an apologetic visit to the site by the Minister of People's Security and other officials. Minister Choe Pu Il, it said, “Met the bereaved families, citizens in the district and other Pyongyangites to express deep consolation and apologies.”

Choe claimed public responsibility for the accident, saying that he had “failed to uphold well the [Chosun Workers’ Party’s] policy of love for the people.” Also, “He repented of himself, saying that he failed to find out factors that could put at risk the lives and properties of the people and to take thoroughgoing measures, thereby causing an unimaginable accident.”

Another official, Pyongyang Municipal People’s Committee Chief Secretary Kim Su Gil, distanced both the Party and Kim Jong Eun from the incident, stating that “Marshal Kim Jong Eun sat up all night in great pain upon receiving a report of the accident, and instructed leading officials of the Party, state and army to not only set aside all other affairs and rush to the scene to command the rescue battle, but also to recover the damage as early as possible.”

Cont...http://www.dailynk.com/english/read.php?num=11874&cataId=nk01700

Experts: Building Collapse Won't Yield Reform
Quote
Following the collapse of an apartment block in central Pyongyang last week, the spotlight has turned to what measures, if any, the regime of Kim Jong Eun will enact in response to the tragedy.

There has been no news of punishment for those responsible, but the outside world would not expect to witness such things in any case. However, there are also no outward signs to date of change in terms of one key contributing factor; namely, the insistence that construction be carried out as quickly as possible, rather than as well as possible. Indeed, programs carried by state television in the last 24 hours have continued to laud the speed with which major construction projects are being completed in the Kim Jong Eun era.

This is because since Kim took power in late 2011, one key propaganda trope has been his oversight of the construction and architecture field. A multitude of construction projects, including a ski resort at Masik Pass, a water park in Pyongyang and sector-specific housing developments, have been reported as being done at the behest of Kim Jong Eun, and at high speed.

Those responsible for this most recent incident may need to be held accountable, some commentators believe, if only to ensure that Kim maintains the appearance of a responsible, caring leader. However, as the collapse was not highly political, extreme punishment may not be deemed necessary. The public apology delivered by Minister of People's Security Choe Pu Il may be sufficient; only time will tell.

Policy change to avoid future accidents are another matter entirely, however, and appear unlikely.

Professor Kim Yong Su of Sogang University explained to Daily NK, "It's likely that Kim Jong Eun will deal with the matter behind the scenes, doing it quietly within the Party instead of announcing measures publicly. There will be no effect on the ‘Chosun Speed’ that they have been emphasizing for construction tasks, since the apartment in question was built when they were talking about 'Masikryeong Speed'."

"Accidents like this have happened many times before in the North. Just the act of showing a Party cadre bowing to the people and apologizing has harmed their prestige, so everything else will probably be dealt with internally," he continued.

Requesting anonymity, a second North Korea expert pointed out, "This is far from the first time that an apartment building has collapsed in the North, but they've always continued on with their 'speed battles' regardless. If they were to abandon them now because of this incident, it would be akin to accepting blame for everything that's occurred up to this point, and that will absolutely never happen. Future acts will merely be to show that something is being done; they won't have any actual meaning."

“Saying that the Marshal [Kim Jong Eun] lost sleep due to his concern for the people after the accident was a ploy to raise his status following the execution of Jang Song Taek. It was also mentioned to try and etch into people’s minds an image of Kim as an ‘affectionate leader,’” the expert concluded.
http://www.dailynk.com/english/read.php?num=11881&cataId=nk00400
5862  Other / Politics & Society / Is US (CIA) Behind ‘Rogue’ General’s Libya Coup? on: May 20, 2014, 07:14:38 PM
Quote
On May 14, the US Marines announced the deployment of 200 marines to Sicily, in southern Italy, as a “crisis response” force for Libya. They did so at the behest of the US State Department, who at the time insisted there was no specific threat, nor any imminent plan to evacuate the embassy in Tripoli.

Just four days later, General Khalifa Hifter and his self-proclaimed Libyan National Army attacked Tripoli, took over parliament, and announced his intention to “purge” the nation of Islamists, starting with the parliamentarians themselves.

It’s Gen. Hifter’s second attempted coup this year, and seems to be going quite a bit better than the February fiasco, which began with statements announcing his takeover, and never really expanded much beyond that. The timing of the marine deployment suggests this latest move did not come as a major surprise to the administration, but Hifter’s US connections may run much deeper.

Gen. Hifter got his start, and his generalship, as a close ally of Moammar Gadhafi, but changed sides when he was captured during the failed late 80′s invasion of Chad. Released at the behest of the US, after which he was set up as a military leader in the National Front for the Salvation of Libya (NFSL), a rebel faction based out of Chad which was backed by the CIA.

The NFSL didn’t last much longer in Chad, however, as a takeover of Chad by Gadhafi ally Idriss Deby led the US to evacuate the rebels. Hifter quietly relocated to the DC suburbs after that, and lived there through 2011, when he left to declare himself a rebel leader during the fight that ousted Gadhafi.

His post-revolution career has been perplexing, as Gen. Hifter has hung around in Libya, and often claimed to be a leader, if not the leader, in the Libyan military, but never seems to have been formally appointed to any post of serious power.

Eventually, the general got his army, or at least his self-styled army, forming the Libyan National Army, which has no official connection to Libya’s actual army, but inexplicably has at times been able to muster attack helicopters and artillery in attacks on Islamist groups. The “army” has been fighting an on-again, off-again crusade against Islamist factions, with the government of former Prime Minister (and former NFSL leader) Ali Zeidan mostly looking the other way.

His attack on Benghazi on Friday seemed to change things considerably, and the new Libyan government was harshly critical of the operation, even sending the real military to the outskirts of the city to prevent either side from bringing more reinforcements to the battle.

Instead of being chastened by his lack of a government imprimatur, Hifter’s forces marched straight for Tripoli, and by Sunday had taken over the airport and parliament. General Hifter has since castigated parliament as a den of Islamists,

Cont...http://news.antiwar.com/2014/05/18/is-us-behind-rogue-generals-libya-coup/
Antiwar.com is a great site for understanding the murky details going on in US foreign policy around the world as only the official government line is purveyed by the mainstream media here. There's so much going on beneath the surface in terms of setting up profitable situations for the MIC (military industrial complex) and the CIA has long been considered out of hand or rogue in their black covert dealings w/ shady outfits. 911 caught them so off guard don't ya know. Undecided
5863  Economy / Securities / Re: [AUTOTRADE]BTC hedge fund by BtcAutoTrader(The first automated BTC hedge fund) on: May 20, 2014, 07:08:05 PM
Can't you guys just pack up and move to Hong Kong and resume your biz if you can't operate like promised out of the mainland? Also, the uptick in BTC price should make yall more profitable in your business acumen and allow more normal payments. Are you guys doing any trading/hedging whatsoever or just on ice?
5864  Economy / Securities / Re: [RETURN] Announcing CoinReturn Financial IPO! on: May 20, 2014, 06:58:56 PM
No.  All the shares at .005 and .007 have sold out.  There are now just under 2000 shares at .01 remaining.  No more shares will be released (without shareholder approval) before March 2015.
Of course but prospective share buyers will obviously be able to make bids and then the free market price can eventually be realized on an continuing upward trajectory to valuate the dividend return rate properly. People will be chomping at the bit to buy shares of this at will be willing to pay a major premium per share.

@ coinreturn

Can we make a vote if there is need for the next 2500 shares at 0.01 as you proposed?

Thanks!

how many shares do you want released. Once this is gone the IPO needs to be over. I want to see where the value will stabilize
This and it'll be interesting to see the new coinage being put to work in a bullish environment like we've just started to witness. What how that'll make the divs look coming up here..
5865  Other / Politics & Society / [US] House Republican Introduces Backup Plan to Squash NSA Phone Spying on: May 20, 2014, 06:40:51 PM
Guess Who?

Rep. Justin Amash (@repjustinamash), the tea-party lawmaker and frequent critic of the National Security Agency, wants to force a vote on the USA Freedom Act this week.


Quote
A tea-party lawmaker is offering an amendment to protect a government-surveillance reform bill from being hollowed out due to pressure from the Obama administration and national-security hawks.

Rep. Justin Amash filed an amendment Monday that would take a key section of the USA Freedom Act—which aims to effectively end the government's mass collection of Americans' phone records—and strap it onto the National Defense Authorization Act, an annual funding bill that Congress will vote on later this week. The Amash amendment would strip funding from intelligence programs justified under Section 215 of the post-9/11 Patriot Act except in certain circumstances, an anti-spying move reminiscent of one the Michigan Republican pulled last summer.

The amendment, offered to the Rules Committee, is meant as a fail-safe in the event the Freedom Act does not also come up for consideration this week in its current form or something closely resembling it, said Will Adams, Amash's chief of staff. House leadership has scheduled the bill for "possible consideration" this week, but backdoor dealings that may change it continued through the weekend and spilled into this week.

Cont...http://www.nationaljournal.com/tech/house-republican-introduces-backup-plan-to-squash-nsa-phone-spying-20140520

Amash is my favorite Rep and I'm delighted that he's part of MI's delegation. He's a badass Ron Paul 2.0 on steroids and the establishment shysters have been gunning for him yet he keeps getting reelected despite them tossing millions to his opponents. I gotta get him on to BTC for donations, posted his Twitter handle up top for those interested in checking him out. He's very into FB and Twitter and he usually responds to people. Heck, we follow each other on Twitter.
5866  Other / Politics & Society / Re: US House Majority Leader Eric Cantor's Forces Repelled @ 7th District Convention on: May 20, 2014, 06:07:58 PM
http://www.voxday.blogspot.com/2014/05/kicking-out-cantor.html
Quote
Sources tell PJ Media that House Majority Leader Eric Cantor’s long-time top consultant, Ray Allen, has “angrily” stated to multiple individuals that he intends to bankrupt the Republican Party of Virginia (RPV), to install his own people throughout all levels of RPV’s State Central Committee, and to rebuild the RPV with money from Eric Cantor’s donors.
[...]
Slating involves disenfranchising all properly registered delegates at a district convention in favor of a vote by only a few dozen handpicked delegates. This tactic was employed to protect the incumbent chairmanships of some Cantor allies: hundreds to thousands of Tea Party/conservative delegates have been forcefully ejected from VA RPV conventions over the past few weeks and months.

However, the ejected delegates and others opposed to Team Cantor have since had success appealing the slating attempts, leaving Allen and Cantor with little to show for their hardball tactics other than alienated constituents, a terrible local public relations problem, and worse, a rapidly gaining primary opponent in challenger Dave Brat.
I sure hope the grassroots stay involved as party delegates cause the second they back off, Cantor's paid henchmen will be re-installing their minions to local party posts. I'm sick and fricking tired of these mother-Fing political consultants that have circled wagons around these bastard incumbents that are holding this country hostage, financially and foreign policy-wise among others.
5867  Other / Politics & Society / Re: Education is a right or is more like a priveledge on: May 20, 2014, 05:23:23 PM
Education is a right only if you or your family can provide it to yourself. So, going to school as a kid when your parents aren't either footing the bill (w/o charity or scholarship) nor paying enough taxes to cover your share is a privilege at the behest of the rest. Public Schools are day prison babysitting camps that teach basic level curriculum, compliance and socialization rather than independent, critical thinking.

So to recap,
"A Right is a moral principle defining and sanctioning man's freedom of action in a social context. There is only one fundamental Right and that is the right to life. All other rights are corollaries of the former."

"Thus, for every individual, a right is the moral sanction of a positive—of his freedom to act on his own judgment, for his own goals, by his own voluntary, uncoerced choice. As to his neighbors, his rights impose no obligations on them except of a negative kind: to abstain from violating his rights."

Ayn Rand
5868  Bitcoin / Press / Re: [2014-05-19] Winklevoss Bros: Bitcoin Will be Bigger than Facebook on: May 20, 2014, 03:36:21 AM
Quite the bullish breakout over the last few hours, mates! Let's see if it holds and our eastern homies run w/ it by the time we get up. Until then, enjoy https://www.youtube.com/watch?v=my6bfA14vMQ
5869  Other / Politics & Society / Re: Britain to give sex change drugs to nine-year-olds on: May 20, 2014, 03:21:22 AM
I think England is lost for ever. The Pink mafia has taken over all the institutions there. They are aiming for a gender-less society. Soon there will be no males or females in England.  Grin
The last time I heard the term "England" was at the last World Cup. I thought the EU banned that word for some reason. Cheesy
5870  Other / Politics & Society / Re: How Marijuana Legalization Is Destroying Mexican Drug Cartel Business on: May 20, 2014, 03:17:06 AM
At least they will still have meth available...

Mexican cartels don't deal with Meth. It is a complicated process to prepare Methamphetamine from Muriatic acid, Ethyl Ether, Lye and Ephedrine. If something goes wrong, then explosions can occur.
In case anyone was interested in the basics of Meth preparation, Mr. Wizard just spelled it out for ya. Cheesy
5871  Economy / Securities / Re: Klyemax Studios Shareholders thread. on: May 20, 2014, 03:09:21 AM
Good job on the dividend, Klye. Gotta start somewhere and being in the black outta the gate is a positive.
5872  Economy / Securities / Re: [ApplianceStore] IPO - Profitable Business - Daily Returns -BUSINESS PLAN ADDED on: May 19, 2014, 06:10:41 PM
Just curious but is there a list of shareholders or shares being sold (overall tally/countdown kinda thing) and how would one exit their holdings at some point in the future should they so choose? Also, what are the tax implications for shareholders be they US citizens or otherwise?
5873  Other / Politics & Society / Re: How Marijuana Legalization Is Destroying Mexican Drug Cartel Business on: May 19, 2014, 05:34:58 PM
In related news and I didn't think it needed its own post:
Uruguay to sell marijuana tax-free to undercut drug traffickers

Quote
Uruguay will exempt marijuana production and sales from taxes in a bid to ensure prices remain low enough to undercut competition from black market pot smuggled in from Paraguay, according to consultants advising the government on a legalization plan.

Congress approved a law allowing the cultivation and sale of marijuana in December, making Uruguay the first country to do so, with the aim of wresting the business from criminals.

"The principal objective is not tax collection. Everything has to be geared toward undercutting the black market," said Felix Abadi, a contractor who is developing Uruguay's marijuana tax structure. "So we have to make sure the price is low."
More @ http://www.reuters.com/article/2014/05/19/us-uruguay-marijuana-idUSBREA4I0CJ20140519
Obviously and as evidenced by the article, these legalization/decrim movements need to keep their prices low or otherwise black market forces can still participate in the heavily taxed markets.
5874  Other / Politics & Society / Britain to give sex change drugs to nine-year-olds on: May 19, 2014, 05:24:54 PM
Quote
Children as young as nine will be given controversial drugs on the NHS to prepare them for sex-swap surgery, The Mail on Sunday can reveal.

The treatment, which halts the onset of adulthood, is aimed at youngsters who believe they are trapped in the wrong body. But critics accused the clinic offering the puberty- postponing injections of ‘playing God’.

‘I think many people will be horrified at the thought of a nine-year-old being provided with a drug that effectively stops them developing and maturing naturally,’ said Conservative MP Andrew Percy.

Others insisted that undisputed research shows that the vast majority of under-16s who
are troubled about their gender do not go on to take the drastic step of surgery. Many turn out to be gay, but no longer feel confused about whether they are male or female.

Cont...http://www.dailymail.co.uk/news/article-2631472/NHS-sex-change-drugs-nine-year-olds-Clinic-accused-playing-God-treatment-stops-puberty.html
Now, British parents can sleep easier at night. Cheesy Brave New World
5875  Bitcoin / Press / Re: [2014-05-19] Federal Reserve: Bitcoin Potential ‘Boon’ for Global Commerce on: May 19, 2014, 05:17:14 PM
The article is about the FAC meeting w/ the Fed Board of Governors to discuss the effects that BTC and digital currencies would have on the "traditional banking system". Their conclusion is:
Quote
the meeting focused on how bitcoin could empower a new wave of commerce innovation – opening new markets to merchants, driving capital flows to the developing world and increasing global economic consumption.
This is what we all want to see happen as it will free more people and continue to increase value in the longer term crypto community. Of course, because there's such a small market cap, they don't feel threatened by it yet. Time will tell.
5876  Bitcoin / Press / Re: [2014-05-19] NewsBTC: San Jose Earthquakes First Pro Sports Team to Accept BTC on: May 19, 2014, 05:02:54 PM
Nice but I could've swore I saw something about the Sacramento Kings accepting BTC in the news in recent times. Huh
5877  Bitcoin / Hardware wallets / Re: Trezor *SO* needs this guy as their mascot/front man on: May 19, 2014, 05:00:13 PM
Are the pre-orders being shipped yet?
5878  Bitcoin / Press / Re: [2014-05-18] Federal Reserve’s Bitcoin Policy Begins to Take Shape on: May 19, 2014, 01:33:12 AM
Quote
The report specifically stated that Congress is interested in Bitcoin because of its effect on the ability of the “Federal Reserve to meet its objectives
(of stable prices,          : Fail
maximum employment, : Fail
and financial stability)”  : Fail
and discusses whether or not “Bitcoins {Will} Affect the Fed’s Conduct of Monetary Policy.”
Bold is mine and Freakin-A-Right it's going to affect their failed mission. We want out of their failed slave box and there's not many credible things they can do to put the cat back in the bag.
5879  Economy / Securities / Re: [Crypto-Trade] Agrícola y Comercial Galt’s Gulch SpA, Galt's Gulch Organics on: May 18, 2014, 11:20:29 PM
I noticed GGO has been de-listed from crypto-trade so I'm kinda wondering what will become of my shares. Would also be nice to at least have a weekly recap on what's going on down there, what's growing, what's being added, maintenance completions, etc.
5880  Economy / Securities / Re: [RETURN] Announcing CoinReturn Financial IPO! on: May 18, 2014, 11:13:31 PM
No.  All the shares at .005 and .007 have sold out.  There are now just under 2000 shares at .01 remaining.  No more shares will be released (without shareholder approval) before March 2015.
Of course but prospective share buyers will obviously be able to make bids and then the free market price can eventually be realized on an continuing upward trajectory to valuate the dividend return rate properly. People will be chomping at the bit to buy shares of this at will be willing to pay a major premium per share.
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