Guam-based submarine commander fired

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Cmdr. Michael Conner delivers remarks during a change of command ceremony onboard the Los Angeles-class attack submarine USS Oklahoma City. Cmdr. Andrew Peterson turned over command to Conner during the ceremony held Dec. 20, 2013, at Naval Base Point Loma, San Diego. (Photo: U.S. Navy)

 

The commanding officer of a fast-attack submarine homeported in Guam has been fired from his duties “due to a loss of confidence in his ability to command,” a Navy statement confirmed Wednesday.

Cmdr. Mike Conner was removed from his position as commander of the USS Oklahoma City, said Cmdr. Brook DeWalt, public affairs officer for the U.S. Pacific Fleet’s Submarine Force. Continue reading

Bank Deposits No Longer Guaranteed By Austrian Government

If you’re not already familiar with one of the more recent invented economic terms of the last few years, “bail-in”, it essentially means your respective government has given the banks the green light to legally take your deposits to cover their obligations should there be another crisis. Instead of the corrupt government bailing ‘out’ the banks, you, the depositor, are bailing them ‘in’. This is also an indication of an anticipated crisis.

In 2013, the United States reportedly missed one by a hair’s length.

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– Austria will remove state guarantee of bank deposits
– Austrian deposit plan given go ahead by the EU
– Banks to pay into a deposit insurance fund over 10 years
– Fund will then be valued at a grossly inadequate €1.5 billion
– New bail-in legislation agreed by EU two years ago
– Depositors need to realise increasing risks and act accordingly
– “Bail-ins are now the rule” and ‘Bail-in regime’ coming

Bank deposits in Austria will no longer enjoy state protection and a state guarantee in the event of bank runs and a bank collapse when legislation is enacted in July. The plan to ensure that the state is no longer responsible for insuring deposits has been readied by the Austrian government in conjunction with the EU two years ago according to Die Presse. Continue reading