Category: America

  • Hugo Chavez Nationalizes Venezuelan Gold Industry

    Hugo Chavez Nationalizes Venezuelan Gold Industry

    Hugo ChavezChavez Demands 211 Tons Be Returned From Abroad – JPMorgan, Bank Of England & ETFs Scramble For Physical Metal

    ‘We just reported that Hugo Chavez has nationalized the entire Venezuelan gold industry this afternoon. Well, Hugo didn’t stop there, as latest headlines flashing indicate that Chavez has requested that the Bank of England return 99 Tons of Venezuelan gold held on deposit, and a total of 211 Tons of gold held abroad (WSJ).

    http://silverdoctors.blogspot.com/2011/08/hugo-chavez-demands-99-tons-of.html

  • Turkey’s Trial by Fire in the Middle East

    Turkey’s Trial by Fire in the Middle East

    usaklogoBy Özdem Sanberk, Director of USAK

    Turkey has taken a position regarding the events underway in Syria that fits in with the existing general principles and practices of its foreign policy. The good relations with the Assad regime it promoted in years gone by do not entitle it to act contrary to the values underlying Turkish foreign policy in the process now under way.

    Being an international role model implies, in one sense, that other countries make efforts to adopt your ways in accordance with the example you have set. Even if there are some among Turkey’s neighbours who are engaged in exactly that, Ankara itself is making no such claim pointing it out. Turkey is a country whose society and goverment have sought peace in their own region and the rest of the world for decades, and a country whose goal is steady development and prosperity.

    Naturally, Turkey would also like to see the same developments toward peace and stability in Syria, its closest neighbour. Turkey also has a democratic multiparty parliamentary tradition which has operated for sixty years, and ultimately traces its roots back even further. Its experience is unique among countries in the world where majorities of people subscribe to the traditions of Islam.

    We are just at the start of an arduous journey

    Turkey is conscious of the fact that multiparty democracy will not settle down overnight among its neighbors to the south. Regardless, the fire which has broken out in Syria needs to be brought under control to minimize the damage, and the tragedy now being played out needs to be brought to a conclusion as quickly as possible. Syria is the country with which Turkey shares its longest land border and whose people are important to it. It is natural for Turkey to strategize how it can be of assistance in resolving Syria’s problems beginning with the humanitarian and security aspects.

    It is not only Syria which is in flux: a massive movement for change is underway all across North Africa, or more precisely, across the entire Arab world. This transformation may last for decades, and it may well be that we have not yet even traversed the very first stage of it. Let us not forget that changes in Central and Eastern Europe after the breakup of the Soviet Union took ten years to complete, despite the political and economic opportunities the European Union made available. Deficiencies in the process are still visible as well. In the Arab world, there is no equivalent source of oxygen for the transformation process. In these difficult times, the Arabs have nothing like the Marshall Plan or an international system like the Council of Europe which might provide guidance on democratic matters. The peoples who live in this region are now only at the beginning of a long and winding road which will continue ahead of them for many years. The processes of democratic and economic development will play out in the Arab lands in a lengthy and arduous fashion. It is certainly an error to come up with hasty conclusions or quick judgments.

    The role of the European Union and the United States

    As the processes work themselves out, the pains suffered by the Arab peoples will not abate. Neighboring countries like Turkey will also have to expect their share of this instability and lack of security. That is why it is not surprising in the least that we are showing so much interest in the developments in our neighbor Syria. To a considerable extent, whether or not the transition process can be made easier is up to the attitudes adopted by America and Europe. President Barack Obama recently spoke of boosting economic progress in the region and opportunities for employment, in addition to the obligations of financial organizations. That was definitely a step in the right direction. However, could this be enough to stop the mass migration and put out the fire that is now burning away? So far there has been no word from Europe, which is the area most affected by mass migration. Is the European Union ready to adopt new policies on trade, aid, and investment to halt the migration and increase the gross national products of these countries—which are almost all former colonies of its member states—and reduce unemployment in them? Furthermore, until the Middle East dispute is resolved, can any peace process in the Middle East be successful? Israel, the US, and the UN all have responsibilities which hardly need to be mentioned.

    Turkey is acting on the basis of its traditions

    The problems of Syria have to be viewed inside a broad regional and international framework of politics, economics, and society. We fall into an error if we take the easy way out and treat them as just a sectarian Islamic conflict. Preferring to do the latter will not make it easier to find a solution.

    Our neighbor Syria is experiencing major humanitarian problems. If it was not, its citizens would not be fleeing to Turkey in the thousands. Regrettably, blood has been spilt. In close proximity, Turkey feels their suffering.

    When humanitarian aid is required, states do not wait to be asked. This rule is surely keeping with the basic values and traditions of Turkish foreign policy. The good relations developed with the Assad regime in the recent past do not lead to the conclusion that Turkey should behave differently and violate its basic values during the process now underway.

    It’s clear that Turkey is not one of the contending sides in the dispute. Syria and the wishes of its people are one and the same for us. Whatever Islamic sect and ethnic group may be involved, the blood being shed is Syrian blood. Turkey’s position toward all Syrians is fraternal and treats them equally. It sees the troubles which Syria is experiencing as its own troubles. If any of our neighbors are in need, no matter who comes to our borders, Turkey will lend them a hand regardless.

    The possibility of a civil war and any instability which could spill over into the rest of the region would mean tragedy for Syria and the Middle East as a whole. Following the elections, Turkish foreign policy in all aspects has focused on Syria. Humanitarian aid and economic support are among the two main instruments of diplomacy, and Turkey is continuing to carry out its obligations in the region. At this stage, Turkey is attempting to maintain honest and constructive relations with all the sides involved. That is simply what the Turkish people expect from their government.

    *This article was firstly published in July issue of USAK’s monthly strategy journal ANALİST in Turkish.

    www.turkishweekly.net, 9 August 2011

  • Taxi of Tomorrow Blahs

    Taxi of Tomorrow Blahs

    The spatial identity of a city is not limited to its buildings. Urban architecture is often complemented by or competes with majestic feats of engineering or lush, elegant landscaping– universally recognizable bridges and parks (such as Golden Gate Bridge in San Francisco or Millennium Park in Chicago) often become the defining landmark of a city.

    In New York, the competing, ubiquitous icon is the bright yellow cab. With a supporting (if not starring) role in many New York photographs and movies, the taxi is embedded in the identity and culture of New York. In expansive lobbies and through large windows, fine design is admired by looking out onto the surrounding streets. From the tallest, most famous buildings, sightseers peer over the railings to admire the tiny taxi cabs on the avenues below. The architecture of New York is embedded in its street life, of which taxis are often the stars.

    After the jump: the new taxi is a missed opportunity.

    A year ago, big news broke that the New York City Taxi and Limousine Commission (TLC) had begun soliciting new designs for the yellow cab. Any search to revamp an icon is challenging; there are the nostalgists, the stalwarts, the radicals—when even small projects take place, there is often immediate outcry and disproportional protest. But the RFP for a new taxi design seemed to have everyone singing a different tune.

    The New York Times exuberantly called it ““an opportunity to shape the urban landscape.” Once they had selected three finalists, the TLC (yes, like the 1990s girl group) asked the public to vote for its favorite design on a friendly interactive website. Iconic reinvention at its best!

    Quickly, a model by the Turkish company Karsan became the popular frontrunner, gaining the support of politicians and the public alike. The Karsan cab (or Kab, as they called it) featured a skylight roof, kick seats, and wheelchair ramps. And in a major boost to New York’s sagging manufacturing industry, Karsan said the cars would be produced locally, in Brooklyn. Cabs for New York, made in New York. The proposal seemed perfect!

    Yesterday, the TLC put an end to any hopes that the new yellow cab will become an icon. Despite overwhelming public support for the Karsan design, they have instead chosen a bland Ford model as the “Taxi of Tomorrow.” The Ford Connect is already in use Boston, Chicago and Philadelphia, and its design is boxy and unremarkable

    The chosen Taxi of Tomorrow is a bland Ford Connect. Image: Gothamist.

    Sad as the outcome it for New York, this episode frames much larger issue: As cities across the globe continue to grow, they look for ways to make their features universally recognizable. Within this rethinking of urban form and identity, there is much opportunity to transform existing urban elements into icons.

    via Architizer Blog » Blog Archive » Taxi of Tomorrow Blahs.

  • Goldman to Acquire Aksa Stake in Turkey for $450 Million

    Goldman to Acquire Aksa Stake in Turkey for $450 Million

    Goldman SachsGoldman Sachs Group Inc. agreed to buy 26.5 percent of Aksa Enerji Uretim AS, one of Turkey’s two biggest power producers, for about $450 million, driving a record gain in the utility’s shares.

    Goldman Sachs will pay 5.05 liras ($2.94) a share to Aksa’s parent company, Kazanci Holding AS, which will invest the proceeds in power generation, Aksa Chairman Cemil Kazanci said today by telephone. “The price isn’t certain and could change at the closing of the transaction,” he said.

    Turkey’s energy industry is luring international companies as electricity demand is set to grow by an average 6.3 percent over the next 20 years, Hasan Koktas, head of the energy-market regulator, said June 15. Italy’s Ansaldo STS SpA won a 640 million-euro ($919 million) order for an 865-megawatt plant this month. Austria’s Verbund AG and OMV AG, Germany’s RWE AG and U.S.-based AES Corp. have also bought power assets in Turkey.

    Goldman Sachs loaned Kazanci Holding $192 million as part of the transaction, Kazanci said. The holding company pledged 43 percent of Aksa shares as collateral for the loan, which has a maturity of a year and one week, he said.

    Goldman Sachs’s offer represents a 22 percent premium to Aksa’s volume-weighted average share price over the 20 days through July 22, according to data compiled by Bloomberg. Aksa rose 33 kurus, or 8.7 percent, to 4.14 liras at the 5:30 p.m. close in Istanbul, the biggest one-day gain since the stock started trading in May 2010.

    Debt Payments

    Aksa expects the deal to close in September. Kazanci Holding will use a “large part” of the proceeds to pay its debts to Aksa, Zeynep Karaman, an analyst at BGC Partners Istanbul, said by telephone.

    In April, Kazanci Holding applied to the Istanbul Stock Exchange to sell 68.9 million shares in Aksa, or an 11.9 percent stake, on the bourse. The stock slumped 13 percent in the following three months.

    “I don’t think Kazanci has given up on its plan for a secondary share sale at Aksa, but this plan has put pressure on the stock price,” according to Karaman, who recommends buying Aksa shares. “Now that overhang seems to be going away.”

    Aksa, based in Istanbul, has power-generation capacity in excess of 1,500 megawatts, Kazanci said, adding that it will “soon” rise to 2,000 megawatts. Competitor Enerjisa, a venture owned by Verbund and Turkey’s Haci Omer Sabanci Holding AS, has a capacity of 1,557 megawatts, according to its website.

    Bloomberg

     

  • Anonymous hacker group members arrested in all over Europe

    Anonymous hacker group members arrested in all over Europe

    Anonymous11

    Police in Italy and Switzerland searched more than 30 apartments as part of an investigation into online activist collective “Anonymous,” amid a growing global law-enforcement crackdown on high-profile computer attacks claimed by the group’s followers.

    The move is the latest enforcement activity in a probe that since December has netted more than 40 arrests of individuals authorities in the U.K., Netherlands, Spain and Turkey have linked to Anonymous.

    In the U.S., the Federal Bureau of Investigation is continuing a probe that has involved dozens of searches over recent months.

    That includes the raid last week of the home of a Hamilton, Ohio, man believed to have links to an Anonymous splinter group called LulzSec.

    Italian police said they suspect some 20 people, five of whom are ages 16 or 17, are behind so-called denial-of-service attacks, in which websites are bombarded with data with the aim of knocking them offline.

    The searches conducted on Tuesday included the home of someone the police identified as a leader of Anonymous’s Italian cell, a 26-year-old man who goes by the nickname “Phre” and lives in Switzerland.

    According to Italian authorities, the attacks targeted the websites of the Italian Parliament and top companies including Enel SpA, ENI SpA and Mediaset SpA, the country’s largest commercial broadcaster, which is owned by Silvio Berlusconi. No arrests were made.

    Anonymous grew out of an online message forum formed in 2003 called 4chan, a popular destination with hackers and gamers.

    It entered the spotlight late last year, claiming cyberattacks against companies and individuals the group said tried to impede the work of document-sharing website WikiLeaks. That included MasterCard Inc. and Visa Inc.

    Over recent months, followers of Anonymous and LulzSec—which takes its name from Internet slang for laughter—have claimed responsibility for a number of denial-of-service attacks and computer breaches of a number of high-profile targets, ranging from corporations like Sony Corp. to the FBI and other government organizations.

    British police, who are cooperating with the FBI, have arrested seven individuals this year. That includes 19-year old Ryan Cleary, who had been a prominent figure in Anonymous and then LulzSec.

    U.K. prosecutors late last month charged him with five computer-related offenses.

    Authorities allege he infected computers in order to form a computer network, called a botnet, which he then used to launch online attacks against websites including that of the U.K. Serious Organised Crime Agency.

    Essex-based Mr. Cleary, who is out on bail, is cooperating with police, his lawyer has said. The other six individuals arrested in the U.K. have been released on bail and haven’t been charged.


    The Wall Street Journal

     

  • Senators to Clinton: Don’t sign Turkish missile defense agreement

    Senators to Clinton: Don’t sign Turkish missile defense agreement

    Posted By Josh Rogin Wednesday, July 13, 2011 – 5:05 PM Share

    When Secretary of State Hillary Clinton gets to Istanbul on Friday, senators and their staffs will be watching closely to see if she moves the ball forward on an agreement to station U.S. missile defense radar there, an agreement many Republicans oppose.

    “We write with concern over recent reports that the administration may be nearing completion of a bilateral agreement with the Turkish Government to base a U.S. AN/TPY-2 (X-Band) radar in Turkey,” wrote Sens. Jon Kyl (R-AZ) and Mark Kirk (R-IL) in a July 12 letter to Clinton and Defense Secretary Leon Panetta obtained by The Cable.

    The senators want the radar to be based in either Georgia or Azerbaijan, which they argue are better locations for defending against a missile attack from Iran. But more broadly, they are concerned that Ankara will place a number of onerous restrictions on the radar, such as demanding that no data be shared with Israel. The senators have also accused Turkey of violating U.S. sanctions against Iran, which they said calls into question their reliability as a partner in organizing a missile defense system aimed at Tehran.

    In a May 12 meeting with Principal Deputy Under Secretary of Defense for Policy James Miller, a senior Missile Defense Agency representative told the senators that “a forward-deployed X-Band radar in either Georgia or Armenia would have significant advantages for the missile defense of the United States,” the senator wrote.

    The senators wrote a May 16 letter to Miller asking for a complete analysis of alternative sites, but they said that they have yet to receive any response.

    Kyl and Kirk also suggested that they will attempt to thwart any missile defense agreement with Turkey unless the Turks agree to share data with Israel, stop violating Iran sanctions laws, and keep the system under the control of U.S. personnel.

    For both the Obama administration and the George W. Bush administration preceding it, international missile defense deployment has always been based on both security and diplomatic considerations. The Bush administration plan to place missile defense infrastructure in Poland and the Czech Republic was a key aspect of strengthening relationships with those two countries, until the Obama administration scuttled it.

    A senior GOP Senate aide explained the insider rationale to The Cable.

    “Secretary Clinton knows the Congress well and she knows that support for a radar in Turkey will quickly collapse on both sides of the aisle if the Turks get any control over its operational activity or veto rights over sharing data with Israel,” the aide said. “Given Turkey’s strained relationship with Israel and non-compliance with U.S. sanctions against Iran, there’s a strong feeling that if the Turks have any operational control over the radar we can be sure it will be turned off the day we need it most.”

    via Senators to Clinton: Don’t sign Turkish missile defense agreement | The Cable.