France: Half of Drugs Prescribed Useless or Dangerous

September 17th, 2012

Via: Guardian:

Half of all medicines being prescribed by doctors in France are either useless or potentially dangerous for patients, according to two eminent medical specialists. They blame the powerful pharmaceutical companies for keeping these drugs on sale at huge expense to the health system and the taxpayer.

Professor Philippe Even, director of the prestigious Necker Institute, and Bernard Debré, a doctor and member of parliament, say removing what they describe as superfluous and hazardous drugs from the list of those paid for by the French health service would save up to €10bn (£8bn) a year. It would also prevent up to 20,000 deaths linked to the medication and reduce hospital admissions by up to 100,000, they claim.

In their 900-page book The Guide to the 4,000 Useful, Useless or Dangerous Medicines, Even and Debré examined the effectiveness, risks and cost of pharmaceutical drugs available in France. Among those that they alleged were “completely useless” were statins, widely taken to lower cholesterol. The blacklist of 58 drugs the doctors claimed are dangerous included anti-inflammatories and drugs prescribed for cardiovascular conditions, diabetes, osteoporosis, contraception, muscular cramps and nicotine addiction.

Professor Even told the Guardian most of the drugs criticised in the book are produced by French laboratories. He accused the pharmaceutical industry of pushing medicines at doctors who then push them on to patients. “The pharmaceutical industry is the most lucrative, the most cynical and the least ethical of all the industries,” he said. “It is like an octopus with tentacles that has infiltrated all the decision making bodies, world health organisations, governments, parliaments, high administrations in health and hospitals and the medical profession.

“It has done this with the connivance, and occasionally the corruption of the medical profession. I am not just talking about medicines but the whole of medicine. It is the pharmaceutical industry that now outlines the entire medical landscape in our country.”

The authors were commissioned by former President Nicolas Sarkozy to write a report over the Mediator affair, a drug developed for diabetes patients but prescribed as a slimming aid, that has been linked to the deaths of hundreds of patients who developed heart problems.

However, Even accused the industry of having a get-rich-quick attitude to making medicines and said it was interested in chasing only easy profits. “They haven’t discovered very much new for the last 30 years, but have multiplied production, using tricks and lies.

“Sadly, none of them is interested in making drugs for rare conditions or, say, for an infectious disease in countries with no money, because it’s not a big market. Nor are they interested in developing drugs for conditions like Alzheimer’s or Parkinson’s disease because it too difficult and there’s not money to be made quickly.

“It has become interested only in the immediate, in short term gains. On Wall Street, the pharmaceutical industry is third after petrol and banking, and each year it increases by 20%. It’s more profitable than mining for diamonds.”


Boy Scouts Helped Alleged Molesters Cover Tracks for Decades

September 17th, 2012

Via: Los Angeles Times:

Over two decades, the Boy Scouts of America failed to report hundreds of alleged child molesters to police and often hid the allegations from parents and the public.

A Los Angeles Times review of 1,600 confidential files dating from 1970 to 1991 has found that Scouting officials frequently urged admitted offenders to quietly resign — and helped many cover their tracks.

Volunteers and employees suspected of abuse were allowed to leave citing bogus reasons such as business demands, “chronic brain dysfunction” and duties at a Shakespeare festival.

The details are contained in the organization’s confidential “perversion files,” a blacklist of alleged molesters, that the Scouts have used internally since 1919. Scouts’ lawyers around the country have been fighting in court to keep the files from public view.


Thanks to the Purchaser of the Hohner Bravo Piano Accordion

September 17th, 2012

You guys support Cryptogon by buying some pretty wild stuff on Amazon, but my jaw hung slack when I saw this in my commission report:

Hohner Bravo Piano Accordion

Hohner Bravo Piano Accordion

To the accordion playing Cryptogon reader out there somewhere: Thank you.


Panetta: China, Japan Heading Towards War

September 17th, 2012

Via: AFP:

CHINA and other Asian countries could end up at war over territorial disputes if governments keep up their “provocative behaviour”, US Defence Secretary Leon Panetta has said.

Speaking to reporters before arriving in Tokyo on a trip to Asia, Mr Panetta appealed for restraint amid mounting tensions over territorial rights in the East China Sea and the South China Sea.

“I am concerned that when these countries engage in provocations of one kind or another over these various islands, that it raises the possibility that a misjudgment on one side or the other could result in violence, and could result in conflict,” Mr Panetta said, when asked about a clash between Japan and China.

“And that conflict would then have the potential of expanding.”

The Pentagon chief’s trip coincides with an escalating row between Asia’s two largest economies over an archipelago in the East China Sea administered by Tokyo under the name Senkaku and claimed by China under the name Diaoyu.

Tensions have steadily mounted since pro-Beijing activists were arrested and deported after landing on one of the islands in August. Japanese nationalists then followed, raising their flag on the same island days later.

On Tuesday, Japan announced it had nationalised three of the islands in the chain, triggering protests in China. Tokyo already owns another and leases the fifth.

The uninhabited islands are in important sea lanes and the seabed nearby is thought to harbour valuable mineral resources.

Related:

More Anti-Japan Protests in China Over Islands

Angry Chinese Protesters Ransack Japanese Businesses

Anti-Japan Protests Spread in China

Image Gallery: Anti-Japanese Protests/Riots in China


Gold

September 16th, 2012

Warning: This is not a recommendation to buy, sell or hold any financial instrument.

I haven’t posted a gold chart in a long time. Gold has been painfully rangebound for months.

It has been very strong over the last few weekly candles and is now nearing a couple of overhead resistance levels. You can see how that sloppy double top worked for shorts back in March, but it’s knocking on that $1790 to $1802 door again, which probably means that it’s going to try to close the bigger gap. That would bring it back up to the all time high at $1920.

Spot Gold, Weekly Interval

Spot Gold, Weekly Interval

My guess is that longs are in for a temporary shakeout around $1800, but that it will retest $1920 in relatively short order (weeks). If that happens, it will probably be the most watched double top situation in a generation. I don’t know what the plan is to prevent it from building a base over $1920, but I’d be ready for a pretty spectacular show.

In the event of a breakout above $1800, I definitely wouldn’t chase it long immediately. It will likely pullback and build a base before going higher.

In summary, for long swingers: Close it out, pare it down, hedge it into $1800. Initiate new longs on pullbacks above $1800. Then the same again—close it out, pare it down, hedge it into $1920.

As usual, permalongs yawn and wait for Bernanke’s next confetti cannon barrage.


Armada of British Naval Power Massing in the Gulf as Israel Prepares an Iran Strike

September 16th, 2012

Via: Telegraph:

Battleships, aircraft carriers, minesweepers and submarines from 25 nations are converging on the strategically important Strait of Hormuz in an unprecedented show of force as Israel and Iran move towards the brink of war.

Western leaders are convinced that Iran will retaliate to any attack by attempting to mine or blockade the shipping lane through which passes around 18 million barrels of oil every day, approximately 35 per cent of the world’s petroleum traded by sea.

A blockade would have a catastrophic effect on the fragile economies of Britain, Europe the United States and Japan, all of which rely heavily on oil and gas supplies from the Gulf.

The Strait of Hormuz is one of the world’s most congested international waterways. It is only 21 miles wide at its narrowest point and is bordered by the Iranian coast to the north and the United Arab Emirates to the south.

In preparation for any pre-emptive or retaliatory action by Iran, warships from more than 25 countries, including the United States, Britain, France, Saudi Arabia and the UAE, will today begin an annual 12-day exercise.

The war games are the largest ever undertaken in the region.

They will practise tactics in how to breach an Iranian blockade of the strait and the force will also undertake counter-mining drills.


‘Muslims’ Movie Producer Was Arrested for PCP, Snitched for Feds

September 15th, 2012

Via: Wired:

Before he was involved in the making of a noxious video that provided an excuse for anti-American riots in the Middle East, and before he was convicted of federal bank fraud, Nakoula Basseley Nakoula was arrested on charges relating to the making of angel dust.

Court records reviewed by Danger Room show that Nakoula and a co-defendant were brought before the Los Angeles County Superior Courthouse in Downey, California on April 15, 1997. They were charged with possessing the narcotic’s chemical precursors with “the intent to manufacture phencyclidine,” otherwise known as angel dust or PCP.

In the latest in a series of odd revelations about the man thought to be at center of a viral video, “The Innocence of Muslims,” which has been publicly seized upon by people in Libya, Egypt, and Tunisia as a reason to attack U.S. embassies. At least four American government employees have been killed during the confrontations. And that’s brought enormous scrutiny to Nakoula, an Egyptian immigrant and gas station owner, who has alternatively confirmed and denied a role in the making of “Innocence.”

In recent days, we’ve learned that Nakoula used 14 different aliases — including “P.J. Tobacco” and “Kritbag Difrat” — in a complex check kiting scheme. We’ve learned that Nakoula was sentenced to 21 months in federal custody for the affair. According to The Smoking Gun, Nakoula was released from the the United States Penitentiary in Lompoc, California in September, 2010. He spent the following nine months in and out of a halfway house in Long Beach. Unnamed officials tell ABC News he wrote the script for the film, which depicts the prophet Muhammad as a thug and a child molester, while in prison.

The punishment was relatively gentle, even though it wasn’t Nakoula’s first encounter with the law. That’s because Nakoula had decided to become a federal informant.

“I am sorry for what happened. Now I know it was wrong. I decide to cooperate with the government to retrieve some of those mistakes,” Nakoula told Judge Christina Snyder in June of 2010, according to a sentencing transcript obtained by The Smoking Gun.


TSA Screener Busted for Child Pornography

September 15th, 2012

Via: NBC Miami:

A Transportation Security Administration employee was arrested on 25 counts of possessing child pornography, the Broward Sheriff’s Office said.

TSA screener Andrew Smeal, 39, was being held at the Broward County Main Jail on $50,000 bond Thursday night, according to online BSO records.


Offshore Wind Energy Could Power Entire U.S. East Coast

September 15th, 2012

Most JFK assassination literature doesn’t mention the Passamaquoddy tidal power project:

Each day, over a million kilowatts of power surge in and out of the Passamaquoddy Bay. Man needs only to exercise his engineering ingenuity to convert the ocean’s surge into a great national asset.

That’s JFK from July 16th, 1963, four months before the big day in Dallas.

Forty nine years later…

Via: Stanford:

A new analysis by Stanford researchers reveals that there is enough offshore wind along the U.S. East Coast to meet the electricity demands of at least one-third of the country.

The scientists paid special attention to the Maine-to-Virginia corridor; the historical lack of strong hurricanes in the region makes it a favorable site for offshore wind turbines. They found that turbines placed there could satisfy the peak-time power needs of these states for three seasons of the year (summer is the exception).

“We knew there was a lot of wind out there, but this is the first actual quantification of the total resource and the time of day that the resource peaks,” said Mark Z. Jacobson, a professor of civil and environmental engineering at Stanford who directed the research. “This provides practical information to wind farm developers about the best areas to place turbines.”


Super-Cars Split $10 Million in X Prize Race

September 15th, 2012

Via: NBC:

A four-seat car that gets 102 miles per gallon is the top winner in a $10 million contest designed to encourage the development of ultra-efficient automobiles.

Edison2, a team of racing engineers from Lynchburg, Va., won the $5 million prize in the mainstream-vehicle category of the Progressive Insurance Automotive X Prize. The winners were announced here on Thursday at a ceremony attended by organizers, teams and politicians hoping to bask in the reflected glory of the teams’ achievements.

The winners in two of the three prize categories — Edison2 and Swiss-based X-Tracer — were a foregone conclusion because they were the last surviving entrants. The third winner, Li-ion Motors of Mooresville, N.C., squeaked out a slim victory.

In the end, the Edison2 team claimed the top spot in the mainstream category for cars that seat four people, can carry 10 cubic feet of luggage, have a 200-mile driving range, can accelerate to 60 mph in less than 15 seconds and have a heater, air conditioner and stereo system. The goal is for the mainstream cars to meet most functional requirements for typical drivers while delivering at least 100 miles per gallon.

Perhaps most impressively, the Edison2 team said that the technologies used in its Very Light Car could be put into a production model that would eventually sell for less that $20,000.


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