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If Iraq was main stream media’s failure, is Iran social network media’s failure? [UPDATED]

This blog entry made it onto Huffington Post. You can go comment here.

On May 26, 2004, a year after the invasion of Iraq, the New York Times issued an extraordinary apology for their failure in the lead up to the invasion of Iraq, The Times and Iraq

. . . we have found a number of instances of coverage that was not as rigorous as it should have been. In some cases, information that was controversial then, and seems questionable now, was insufficiently qualified or allowed to stand unchallenged. Looking back, we wish we had been more aggressive in re-examining the claims as new evidence emerged or failed to emerge.

Flash forward to June 12, 2009. Thousands of tweets claim the Iranian elections are rigged. Mousavi supporters fill the streets of Tehran. Within 48 hours, hundreds of thousands of retweets echo and amplify the chants and the cries of mostly anonymous twitterers reporting Iranian state violence. The tweets are homepage news on Huffington Post and Drudge Report. All the diaries of leading blogs are further amplifying the information disseminated by the tweets and retweets.

The Twitter Revolution and the Green Revolution were on! The MSM had failed!

But then. Someone from the Main Stream Media actually investigated on the ground in Tehran – Robert Fisk for the UK newspaper, The Independent

At around 4.35 last Monday morning, my Beirut mobile phone rang in my Tehran hotel room. “Mr Fisk, I am a computer science student in Lebanon. I have just heard that students are being massacred in their dorms at Tehran University. Do you know about this?” The Fisk notebook is lifted wearily from the bedside table. “And can you tell me why,” he continued, “the BBC and other media are not reporting that the Iranian authorities have closed down SMS calls and local mobile phones and have shut down the internet in Tehran? I am learning what is happening only from Twitters and Facebook.”

You will recall that the SNM was, of course, buzzing with declarations that the main stream media was failing to report the “truth” as evidenced in the almost entirely unsourceable, unchallengeable tweets. One of the top trending hashtags at Twitter was #cnnfail.

Fisk, however, did what good journalists do, he put on his shoes and went out to investigate. Most of these ‘truths’ circling the socially networked universe, he quickly found were simply untrue. Continue reading

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Headlines, Headlines, Headlines – 10 April 2009

Stacy Summary:  Banks resembling mafia organizations in the headlines today as the banks are forced to take an oath of omerta to Geithner and the Australian bank cartels shakedown the people.

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Headlines, Headlines, Headlines – 26 March 2009

The fabric of the global financial system continues to unravel it seems. Geithner, as the breaking headline yesterday noted, has suggested the US is up for a global currency to replace the dollar and the UK is unable to sell its debt.

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Breaking: US backing for world currency stuns markets

Earthquake in geo-finance as Geithner suggests US backs a new global reserve currency.

The dollar plunged instantly against the euro, yen, and sterling as the comments flashed across trading screens. David Bloom, currency chief at HSBC, said the apparent policy shift amounts to an earthquake in geo-finance.

“The mere fact that the US Treasury Secretary is even entertaining thoughts that the dollar may cease being the anchor of the global monetary system has caused consternation,” he said.

Watch the original Death of the Dollar on Aljazeera English.  Filmed in April 2006

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Headlines, Headlines, Headlines: 25 March 2009

Of course, we have been talking about this since the original Death of the Dollar in 2006 and earlier on Resonance FM.

HSBC conceded yesterday that its purchase of Household International, the US sub-prime lender, had been a $15 billion blunder and would continue to drain the bank’s resources for another two years.

The full scale of the disaster was laid out for shareholders as the bank unveiled plans for a £12.5 billion rights issue to shore up its balance sheet.

Foreigners ain’t going to return to the US market for a long, long time.  Obama, Geithner, Bernanke and Summers can toss all the dosh they want at their cronies on Wall Street, no bank anywhere in the world is going to ever buy any debt related to or collateralized by the US consumer until memories fail or the US consumer actually manages to secure decent wages (unlikely for this generation).

There is more and more alarm at US (& UK) economic policies.  Alarm, of course, has a way of turning into stampedes or panics.

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Max Keiser & Afshin Rattansi on Obama’s 1 trillion plan

While I work on fixing header image, here is a video of Max and Afshin:

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Site redesign

Hi there.  Just trying out a few different options for site design.  Feel free to leave any comments.

While I fiddle around with this wordpress stuff, you can visit the headline stories today HERE

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