Saudi Arabia Plans $2 Trillion Megafund for Post-Oil Era: Deputy Crown Prince

Saudi Arabia is getting ready for the twilight of the oil age by creating the world’s largest sovereign wealth fund for the kingdom’s most prized assets.

Over a five-hour conversation, Deputy Crown Prince Mohammed bin Salman laid out his vision for the Public Investment Fund, which will eventually control more than $2 trillion and help wean the kingdom off oil. As part of that strategy, the prince said Saudi will sell shares in Aramco’s parent company and transform the oil giant into an industrial conglomerate. The initial public offering could happen as soon as next year, with the country currently planning to sell less than 5 percent. Continue reading

A New Era in the Middle East (II)

TEHERAN/HANOVER/MUNICH (Own report) – Now that the sanctions are coming to a close, German enterprises are initiating major investments in Iran and multibillion-dollar gas deals with Teheran. Over the past few weeks, several business delegations have already visited Iran. The state of Bavaria will soon open a business representation in the Iranian capital. On the one hand, German business circles have their eye on the Middle East market, because Iran “is the ventricle of an economic zone comprising a cross-border population of 400 million people.” With car sales in Iran, Volkswagen would like to compensate for the slump it is suffering on other major markets, particularly China and Brazil. On the other hand, Berlin and Brussels are trying to acquire access to Iranian natural gas. The EU Commission estimates that by 2030, Iran should be annually selling 25 to 35 billion cubic meters – probably liquid – gas to the EU. BASF natural gas subsidiary Wintershall has also shown interest. During his recent visit in Teheran, Lower Saxony’s Minister of the Economy proposed the construction of a LNG terminal in Wilhelmshaven as a German-Iranian joint venture. This is all happening at a time, when the conflict over Syria – with Iran and Russia on the one side and the West on the other – is escalating.

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Richard Russell Warns We Have Now Entered A Bear Market In Stocks And Fred Hickey Expects A Huge Rally In Gold!

August 20 (King World News) – The Stock Market Has Turned Bearish

Richard Russell:  “As subscribers know, I wish the best for America and believe that America is the hope of the world. Yet there are a few things that worry me.

I believe the US economy is sinking into recession as described by John Williams of Shadow Statistics. I believe we are in a period of deflation and deleveraging. I am convinced that the Fed knows the economy is contracting and this is the reason that they have not yet raised rates. Continue reading

Obama’s cybersecurity adviser: Biometrics will replace passwords for safety’s sake

The days of using a password to access a bank account or cellphone will soon be a thing of the past, President Obama’s top cybersecurity adviser said Thursday.

The risk of getting hacked by criminals has grown so widespread that far more sophisticated identification technology — including biometric scanning devices — will become the norm, said Michael Daniel, the White House’s cybersecurity coordinator.

“You’ve started to see some of that with the emergence of the fingerprint readers,” said Mr. Daniel, adding that the technology will become increasingly mainstream as cellphone cameras, “hard” card readers and other authentication gadgets replace the annoying process for millions of Americans of punching in a password to confirm their identity.

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But China is our Friend…Right?

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It was an interesting week last week. For one thing, Chinese company Alibaba debuted as the largest IPO in the history of the world. Larger than the Initial Public Offerings of Facebook, Twitter, Google, Apple, and Microsoft combined. At the same time, there was a Senate report indicating that China hacked U.S. military contractors in a significant way at least twenty times in the past year. In America, we celebrated the success of Wall Street, earning $300 million or so in underwriter fees. In China, they celebrated finding a path to dethrone American technology dominance (from the official Chinese News Agency): Continue reading

600 million Apple devices contain secret backdoors, researcher claims

A security researcher considered to be among the foremost experts in his field says that more than a half-billion mobile devices running Apple’s latest iOS operating system contain secret backdoors.

Jonathan Zdziarski, also known by his online alias “NerveGas,” told the audience attending his Friday morning presentation at the Hackers on Planet Earth conference in New York City that around 600 million Apple devices, including iPhones and tablets, contain hidden features that allow data to be surreptitiously slurped from those devices.

During Zdziarski’s HOPE presentation, “Identifying Backdoors, Attack Points and Surveillance Mechanisms in iOS Devices,” the researcher revealed that several undocumented forensic services are installed on every new iPhone and iPad, making it easier that ever for a third-party to pull data from those devices in order to compromise a target and take hold of their personal information, including pictures, text messages, voice recordings and more.

Among the hidden functions running on iOS devices, Zdziarski said, are programs called “pcapd,” “file_relay” and “file_relay.” If used properly, he added, those programs can allow anyone with the right means and methodology to pull staggering amounts of data from a targeted phone, even when the rightful owner suspects the device is sufficiently locked. Continue reading

Bitcoin firm CEO found dead after ‘suicide’

The background on Bitcoin isn’t all that clear, but with JP Morgan Chase & Co. it is. This bank has been known to be not-so ‘Obama friendly’ and subsequently became a large target of the Obama administration via extortion. It doesn’t take much to connect the dots. The public doesn’t care, either, as they see these executives as ‘one per-centers’ and ‘big evil bankers’, yet they can never put a face to these supposed villans and put all bankers in the same basket. America is infiltrated and overrun in every facet of society from the military to the banking industry and the judicial system to the school system.

See the following related articles for a background on JP Morgan Chase & Co.:

 

It appears bitcoin’s recent turmoil has claimed its first life.

Autumn Radtke, a 28-year-old American CEO of bitcoin exchange firm First Meta, was found dead in her Singapore apartment on Feb. 28.

Radtke formerly worked with Apple and other Silicon Valley tech firms on developing digital payment systems.

Radtke’s death brings the number of questionable financial sector deaths this year to eight. Continue reading