Category: conspiracy

Lizard News – Why Aadhaar is bad for you & India!

It is a matter of time before everyone’s fingerprints are leaked online.

Unlike a hand-written signature, the biometric fingerprint can be replicated without the will/knowledge of the owner. Any business can collect fingerprints and personal data. If fingerprints are leaked online or sold to mobile phone theives, then they can conduct Aadhaar-enabled financial transactions.

The UIDAI Act offers no recourse or alternative for those whose biometric data has been stolen. With so many things made dependent on Aadhaar, life will come to a nought for those people. Aadhaar is a single-point failure on which the financial security of our nation is being set to be wrecked.

Why is Modi paying private airlines free money (Rs. 3000 for a Rs. 2000 ticket), while asking railway passengers to pay full fare

Modi would not meet TN farmers’ delegation.

In Uttar Pradesh legistlative assembly elections, BJP unexpectedly won with a majority. It was unexpected because Uttar Pradesh is one of the worst affected states where lakhs of workers (including migrant workers working in other states) had become jobless because of Modi government’s ill-advised demonetization exercise. This would not have happened had it not been for vote tampering with the EVMs.

So, Modi had no problem when the new BJP CM offered loan relief for UP farmers. Uttar Pradesh government cannot forgive farm loans unless the central government headed by Modi helps. EVM guilt made it easy for Modi to forgive loans in UP. For Tamil Nadu, they perhaps have to wait for 2050 elections when BJP may be able to form government for the first time in the state.

Fiscal prudence is good but is it consistent. Modi government launched another “U” scheme called Udaan, which offers to provide private airlines with a subsidy or free money for trips to low-traffic airports. For example, a 5300-rupee New Delhi-Shimla ticket will net the private airline 3300 rupees. The well-healed plane passenger will be able to buy the ticket for only Rs. 2000. Modi government’s defence is that this is a temporary subsidy scheme, which will be withdrawn once traffic picks up. This is unlikely to happen. Once the subsidy stops, traffic will stop. Like with Tata Motors plant in Gujarat. When the subsidy is over, the high-falooting corporate bloodsuckers just walk out. Everyone does this today. In the US, Amazon will start a new dispatch center in area if local and state subsidies and tax incentives are available. Amazon gets these rewards on the promise that it will bring new jobs to the area but its pays workers only minimum wage. When the rewards run out, Amazon packs up and leaves. Similarly, Intel started a chip plant in Israel on the back of subsidies, tax holidays and other incentives. When these ran out, Intel wanted close shop.

Free money for private airlines but none for public railways

The Udaan scheme runs counter to what the Modi government has been saying about the railways. FM Jaitley has been saying that rail users should start paying full fares and there should be no subsidies. Poor people travel by rail. If they had money, they would take planes. It is obvious what the reason is. Private airline heads have friends in the Modi ministry. I bet some suitcases are involved.

Desperate for positive news, Kejriwal falls for HPV vaccine makers tricks

Despite numerous reports of adverse effects of HPV vaccines and the unauthorized clinical trials on tribal people, the AAP government is now giving HPV vaccines to all girls. This shows that despite being permanently hooked up to Twitter and Facebook, he doesn’t get proper information before taking an important decision.

The Kejriwal-led AAP government in Delhi is giving the expensive and useless HPV vaccine to young girls in Delhi.

The Kejriwal-led AAP government in Delhi is giving the expensive and useless HPV vaccine to young girls in Delhi.

The HPV makers are giving the vaccines to the Delhi government at a subsidized rate because they can on the long-term get market prices when governments to make it mandatory. In the US, many state legislatures have already given immunity to the manufacturers against vaccine injury lawsuits before making the vaccines mandatory (event against parental consent). The Bill Gates-promoted Path.org has been asked to stop its illegal clinical trials in government hostels run for tribal girls.

Path.org on its website says that the trials are meant to make a case for public sector introduction of HPV vaccines. However, trials on tribal girls was under the guise of charity and under the false cover of a government-sponsored vaccination program.

Even in the US where sexual promiscuity is high among teens, the HPV was considered unnecessary. It was originally meant for prostitutes and other high-risk people but greedy vaccine makers pitched it to all girls in the population. They have become so greedy that they managed to get the vaccine given to boys as well! Cervical cancer is not a big killer but since the manufacturers have a vaccine they want it to be sold at a premium and be made mandatory. Given the phenomenal profits coming from the vaccine sales, politicians and health official and doctors find it impossible to say no to the vaccine manufacturers.

US talk show host Katie Couric brought HPV vaccine injury cases to limelight and her website was inundated with numerous heart-wrenching stories from parents who have had their daughters lives ruined by the vaccines.

What’s in a box of Pringles? Rock, sand, cement, gum…

Everything you need to build a small cottage in the woods.

Ingredients of a box of Pringles chips.

Ingredients of a box of Pringles chips.

In 2008 UK court case, Proctor & Gamble (P&G) claimed that its famous Pringles chips were not really potato chips. Of course, to avoid taxes. They buttressed this claim with the list of ingredients, which showed that it was less than 50% potato and rest of it was just flour/starch and other malcontents. Pringles was already notorious for its use of the addictive MSG (Mono-sodium glutamate) or ajinomoto.

As if that was not enough, the additives in a box of Pringles deserves special attention. The Codex Alimentarius created by the United Nations has made it easy to hide the true nature of the ingredients. Fortunately, I have with me an old edition of Maurice Hanssen’s E for Additives. I looked up the additives in the book and it seems like a box of Pringles contains certain unpalatable additives designed to freak out anyone. Although they are in small quantities, you wouldn’t encounter them if you simply bought a fresh bag of regular chips instead.

  • Anti-caking agent: INS 551 is silicon dioxide. Otherwise known as sand.
  • Flavour enhancers: INS 627 is sodium guanlyate, which is synthetically manufactured. INS 631 is sodium inosinate, which is a non-vegetarian additive extracted from meat and sardines (a fish). Both are not good for babies or young children or those suffering from gout.
  • Preservative: INS 220 is sulfur dioxide. Toxic to fungi. Made from sulfur or gypsum combustion. Destroys vitamin E and irritates alimentary canal.
  • Emulsifier: INS 414 is Gum Arabic, popularly used in painting water colors. It is the hardened sap tapped from the bark of an African tree.

EU is a fascist dream! So, all hail, “The EU is dead! Long live the UK!”

Without trade deals, how is China still the biggest trading nation in the world?

NEWSCLIP-BL-Britain-exits-European-Union-in-Brexit-vote

I used to hate the Brits for colonizing India but now I have forgiven them. The Brits voted for independence, and freed themselves and future generations from the tyranny of a villainous super-state called the European Union (EU).

In the 11th century, William The Conqueror (from Normandy, France) occupied England and instituted the feudal system. While much of the population became as serfs to nobles, the Jews he brought with him were exempted. Like Jews in ancient Palestine, Jews got themselves exempted from the law of the land. Jews became direct subjects of the King. By the 13th century, Jews had ruined their welcome. As traditional moneylenders (Christians were forbidden by their religion to charge interest), they were not particularly liked by the people. There were many accusations of ritual murder in which children were found murdered, often drained of all blood from their bodies. Some of these children are still worshiped as saints in many parts of Europe. Some 350 years later, Jews were formally allowed back into England by Oliver Cromwell, who had beheaded the King Charles and instituted a military dictatorship. While Cromwell’s complaint was that Charles had ignored the Parliament, he ruled more or less like a king without a formal crown on his head. Under Cromwell’s “Commonwealth”, the feudal system remained intact. Jews continued to charge high interest and squeezed out competitors in various trades. Some nobles may have changed but as a class their wealth and privileges continued.

PHOTO-EU-president-Schulz-questions-the-wisdom-of-the-crowdComing to recent times, the EU has grown into a lumbering overarching bureaucratic state. Bit by bit member states have had to cede their sovereignty to the mandarins in Brussels, Belgium. Members states had to give up everything – from jobs to control over trade and immigration. But the EU left royal families, nobility and landed gentry untouched. They would be anachronism if EU had to proceed further as a real super-state.

Although UK was a member of the EU, it had not ceded all of its sovereignty. It continued to have its own currency – the Sterling Pound, and did not have to follow many EU conventions. As an internationalist, the Prime Minister of UK, David Cameron wanted to UK to subsume into the EU. In this, he faced opposition from the old guard in his party, whose loyalties lie with the royalty and the upper class of British society.

To bypass opponents in the Conservative Party and go ahead with full EU integration, Cameron called for a referendum – the Brexit. A pal of his, Boris Johnson, seems to have been given the task of preventing the likes of Nigel Farage of UKIP (UK Independence Party) from hijacking the Brexit Leave vote. During the run-up to the vote, a known supporter of Palestinians and unfortunately a supporter of the Remain campaign was, let’s say, sacrificed for maximum advantage. (In France or Turkey, there is always a terrorist attack whenever the politicians in power are not doing well in the popularity charts.) To make matters worse, YouGov published a poll in which weeks of Leave campaign advantage was reversed and the Remain campaign was shown as in the lead. This was the reason why voter turnout was high.

Given such high turnout, the writing was on the wall. But the globalists had to show that Remain campaign was not in a minority. Hence the final tally showed a difference of just a few percentage points.

If the Leave camp was in a minority, then the turnout would have been low. The television images of rapefugees from Middle East and boat people from Africa had created indelible impression that UK and the EU was under an invasion. Instead of stopping the influx, German government were getting them to stay. As it became clear that Germany would not stop refugees, millions of illegal migrants started invading the borders of the borderless EU states. These illegals were everywhere – inside bus stations, railway stations and highways. When they were stopped, they started attacking. In Germany, Sweden and other countries, rapefugees started mounting sexual assaults on women. Instead of arresting them, authorities wanted citizens to take precautions. Churches were asked to remove the crosses when refugees were housed in them. Citizens living in state housing complexes were asked to leave to make way for refugees. Near the English Channel, illegal immigrants had stopped trains, trucks and other traffic.

The alien invasion came at a time of financial turmoil in EU states. EU integration and free trade had destroyed the manufacturing base of these countries. Countless factories and businesses had shut down. Jobs had become. Housing and education was becoming more and more expensive by the day. Despite all that, anyone opposing the illegal migration was immediately branded as a Nazi. Politicians and journalists were making bold-faced lies about the alien invasion and its response. It seemed that system had failed. The referendum captured a revolt in the making.

Is it the end of the world now? Hang yourself if you want!

Before the refrendum, everyone from the Janet Yellen to the EU to the IMF was claiming that Brexit would be catastrophic. After the refrendum, nothing happened. Sure, stockmarkets crashed but they are still trading higher than the week before.

Will Brexit be bad for the UK? UK is broke. It can’t get out with the EU as a millstone around its neck.

No. Britain was not a full member of the EU. It continues to have its own currency, which trades freely in the market.

Despite the fact that EU regulations are already like mountains, the group is still in its infancy. EU member states still have national parliaments and are sovereign states.

The globalists initially sold the public that the EU was just a common market for goods. Over time, the customs union was followed by a common bureaucracy, powerless common parliament, a common currency, common regulations, common court…

In recent years, EU states have been suffering from financial turmoil. It was caused by poor lending practices, low interest rates and unpayable private/public debt. With the common currency, national governments were unable to guide their economies.

The solution to the financial turmoil in EU, as suggested by the globalist kleptocrats, was now a common fiscal union. A fiscal union means national parliaments are obsolete and no longer in control of their budgets. With each crisis, the kleptocrats have showed no sign of slacking. They were moving the EU super-state project even further. UK was facing doom in the EU, as are other remaining state within the union. The EU bureacracy already operates in an opaque manner. The total secrecy with which the Transatlantic Trade and Investment Partnership (TTIP) treaty was being negotiated is proof. In the US, the kleptocrats were guiding the American government on similar lines with the Trans-Pacific Partnership (TPP). Even as the American public and legislators were denied access to the draft and minutes of the negotiations, US president Obama claimed that his country (and not China) would be writing the rules of international trade. (In India, Modi government has put Nirmal Sitharam on a similar secret deal called Regional Comprehensive Economic Partnership  (RCEP) with Asian and Oceanic countries. The EU is part of a larger World Government project and Modi is a small pawn in it. Because Indian media is clueless about TPP and TPIP, there is no media discussion on the ill effects of RCEP. Instead, they are loudly agonizing over a useless NSG membership.)

INFOGRAPHIC-EU-is-fascism-in-disguise

EU is a fascist dream. UK is better off without all that red tape and bureaucracy.

How can UK trade without trade deals? Trade without trade deals is free trade!

Nations should be able to regulate their trade. Trade deals are bondage agreements. UK does not need trade deals to trade in goods or services. The biggest trading nation in the world is China. It has a huge pool of slave labour and it is destroying manufacturing nations all around the world without any fancy trade deal.

Many European countries like Norway and Switzerland already trade with EU states without enjoying the “benefits” of being a EU state.

Will not Brexit affect stockmarkets? Not any more wobbly than it is already!

The effects of Brexit will not be immediate. Cameron has delayed Brexit until October when he resigns. The new Prime Minister has two years time after that to negotiate the exit. UK can sign new trade deals with individual EU nations if it wants to. EU leaders say they want a quick UK exit but they will try to make it difficult for the UK to exit and will make it a long-drawn-out process, lest it encourage other nations to leave.

If other EU nations do not provide duty-free access to UK exports, then UK can impose duties on their exports too. This will also help restarting the manufacturing base in the UK while shoring up revenues for the government. EU needs the UK more than UK needs Europe.

Will not Scotland want to leave? Sturgeon is a Merkel!

Earlier, I would have liked Scotland to leave the UK. Now, I don’t. Small nations are easier to exploit. What happened in Iceland and Greece are good examples. If Scotland wants to leave Great Britain be part of the EU, it will be like exchanging one master for another. Sturgeon is a Merkel in disguise, put in there like Boris Johnson for a purpose.

How can you trade the Brexit

Just how stupid were those billion dollar bets based on the last minute YouGov opinion poll! It clearly shows that pundits in the media and the markets are totally clueless when it comes manipulation of events.

Stockmarkets have become extremely sentiment-driven. They are like a cat on a wall. However, thanks to quantitative easing, a lot of government money has come into the stockmarket. It will not return unless interest rates are hiked.

Only if China stops buying US treasuries or Saudi Arabia wants to bill crude oil in other currencies than the US dollar will stockmarkets collapse as a whole in the immediate term.

Over the long term, massive corporate debt defaults are looming the US, where companies have borrowed from the market to buyback equity, which have boosted share prices. This will cause a slow downturn in the Dow. If it gets ugly, purchases of US treasuries by other central banks cannot be justified. US government will have to then devalue its currency or default on some of it debt, as I have already predicted.

You should have already bought gold as a hedge against all bad news. Stocks with good EPS and ROCE can be picked. Stocks that have run up like crazy should be avoided.

WEBPAGE-MV--Gold-Will-Be-Back

The bottom-line is that trade deals are not needed for UK to be trading. It was the unfree trade that was destroying UK businesses (the steel industry, for example). Even if other countries leave the EU, so much the better. Only when national governments have full control over their economies, can manufacturing for internal consumption (rather than exports) be able to provide enough jobs and create lasting prosperity.

Modi enables mass-poisoning of Indians by allowing edible oils to be blended with GMO cottonseed oil

What is poisonous to the worm will also be poisonous to humans, as the pesticide is not sprayed but genetically produced in every cell of the crop.

Beware of the “refined” cooking oil available in the market. Instead of mechanically pressing the seeds to extract oil, oil refiners are using chemical solvents to do the same. And, to make the oil look crystal clear more chemicals are added and vital nutrients are removed from it. (Hindu Business Line; Solvent extractors trade body locks horns with Ramdev’s Patanjali; http://www.thehindubusinessline.com/economy/agri-business/solvent-extractors-trade-body-locks-horns-with-ramdevs-patanjali/article8547756.ece) Vandana Shiva writes (http://www.thehindubusinessline.com/blink/know/small-oil-crisis/article8194051.ece):

The ghani (oil extraction plant) set up by Mahatma Gandhi at Sewashram in Wardha, Maharashtra, has been a visible and working symbol of a self-reliant community since 1934. This living legacy is now in danger of shutting down.

Ghanis have been around since ancient times. Food historian KT Achaya dates the use of sesame oilseeds to the Harappan civilisation around 2000 BC. The ghani entails a symbiotic relationship between farmers who grow oilseeds and consumers looking for fresh, healthy, cold-pressed oil. This rustic, grassroots enterprise today finds itself on the wrong side of modern food safety regulations.

Now, to make more profits, solvent extractors are blending cooking oils with cottonseed oils. Much of Indian cotton farmers have switched to the poisonous GMO cotton. People oppose GMO for common sense, scientific, and economic reasons.

Common sense – the idea of splicing plant gene strands & putting poison-producing genes from a bacteria should be revolting. It is also a disproportionate response, like swatting a fly with a hammer. Instead of spraying a pesticide, they are putting it in every cell of the plant.

Scientific – The pesticide (from the bacterium genes) is in every cell of the crop unlike earlier solutions such as sprayed pesticides which can be washed away. The pesticide that kills the bollworm will harm humans too, even if it doesn’t immediately kill them.

Economic – For millennia, farmers are used to retaining the seeds from the current harvest for planting in the next harvest. GMO companyies want to take away this right by selling them third-generation seeds which mathematically increase the number of unviable seeds with each replanting. GMO crops are not only designed to make farmers dependent on the seed manufacturer but also specially designed pesticides such as glyphosate.

Scientists benefiting from GMO brush aside all opposition as the babblings of a superstitious lot. LEAVE THE SCIENCE TO US!

Apparently, the “bollworm-resistant GMO cotton” is not really bollworm-resistant. Even though a majority of cotton farmers have switched to SCIENCE-based GMO cotton, they still have to contend with many strains of bollworm. They have to continue to buy pesticides, which the GMO  poison was supposed to eliminate. In the US, GMO and glyphosate use has given rise to “super weeds” which grow taller than a human being! (They weeds adapted with genetic mutation as only those that survived the glyphosate spraying to create another generation.) To combat super weeds, farmers are spraying more pesticides, endangering not only themselves but also those living in the neighborhood of these farms. (GMO poisoning is then given new causes such as Zika virus without any scientific basis.)

http://www.usnews.com/news/articles/2012/10/19/herbicide-resistant-super-weeds-increasingly-plaguing-farmers

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So much for all that SHIENSH claims! Monsanto claims that testing the safety of GMO and related pesticides is not its job.

Contrary to public belief, US FDA & DOA don’t do any testing. certifing. The revolving door policy encouraged by US presidents over several decades ensures that ex-industry executives (not scientists) who become officials in these government agencies are richly rewarded when they return back to the industry after their stint at “public service”. US government scientists do not actually validate any product on the market. They are there to create an illusion for the benefit of a gullible public.

https://twitter.com/MoralVolcano/status/746721044761743360

Wren & Martin Grammar anyone? The state of textbook publishing in India

Oxford grammar has dropped interjections from parts of speech! Have Britons really become a nation of drunks in permanent stupor-hangover, as some news reports allege?

Cover of Wren and Martin's High School English Grammar & Composition

It all started with the question what a subject and a predicate were. That’s how state board books in India start with English grammar. My new Oxford grammar book was of no help. So, I went and bought a copy of the venerable-old Wren and Martin “High School English Grammar & Composition” today. This is a book that has been in use for several decades by students of English in India and other British colonies. It is like Dondo Moden French Course, which is a humble textbook published by Oxford University Press and used all over the world to learn/teach French for over a century.

When I was in school, I never owned one but my friends used it. Even though I was surprised they would spend actual money to buy a grammar book, I found the book worthwhile before exams as it had more grammar exercises than the one prescribed by our school syllabus. My friends also bought the key to the book and it was useful to cross-check our answers!

S Chand had made several revisions to the original text. There are now two editions – one illustrated and the other is not. I bought the illustrated one. The paper quality (recycled) is not as good as it was IN THOSE DAYS but the color illustrations were a surprise. I did not buy the Key to HSEG&C but it is available. (The Dondo book also has a “key” book for its exercises.)

Illustrated Wren & Martin's High School English Grammar & Composition

The Oxford grammar book bears no resemblance to the grammar used in Indian school textbooks. Oxford grammar seems to be an example of the control-freak mentality that has ruined several disciplines. The US Department of Defense would call a pencil as “portable handheld graphite communications inscriber”. They obtained a permanent place in management books by famously ordering toilet seats for $600 per piece. One of their studies revealed that 50% of their software projects were never delivered and one-third of delivered projects were never used. These inefficient and corrupt fools then bypassed the whole issue by asking Carnegie Mellon University for a solution. Those morons came out with SEI CMM (Software Engineering Institute Capability Maturity Model). This was adopted by industry without question and for years experienced project managers were denied jobs because they did not have training or experience in SEI-CMMM. It is only in recent times that people have realized that the whole thing was stupid and a waste of everyone’s time. Even before they got rid of this ghost, it was periodically harmed by hysteria such as agile, stack ranking, frameworks, and other common-sense alternatives.

In my CBSE high school grammar book, there were 9 parts of speech and they began with the articles a and an. In the W&M, (at least it seems to be now that) articles are part of adjectives. That’s fine because they also describe a noun just like other adjectives. In the Oxford grammar book, interjections have been eliminated, and articles and other forms of adjectives have subsumed in to what are called as determiners. Ouch! Why did they even bother? All of these so-called determiners are just adjectives!

There are no interjections in Oxford grammar. Articles have been folded into what are called 'determiners.'

Anyway, S Chand says it is the oldest and biggest publisher of educational books in India. (Textbooks in India are bigger than other forms of publishing.) I am not sure if S Chand is as big it once was. There are definitely a whole lot more publishers now.

The reason I went for W&M was the poor language and grammar that I found in the state board school textbooks. Using the Oxford grammar book was out of question. In India, W&M English rules. The Oxford book tried to be easy while being detailed but failed in both. W&M is simple and makes sense.

So, why are schools using these substandard textbooks? It is a long story. When I was in school, we had English reader and non-detailed books published by Orient Longman and Gulmohar. (After our school got affiliated with CBSE, we switched to several NCERT/CBSE books.) After Longman was purchased by Pearson, Orient Longman changed name to Orient Blackswan. Gulmohar is now an imprint of Orient Blackswan.

I was also looking for a maths textbook and found that prices from big publishers were way above what lower middle class people can afford. (The textbooks are mainly targeted at CBSE and ICSE students.) The substandard English textbook used by my kid’s school as part of Karnataka State board is priced at just 70-80 even though it is in full color. The Orient Blackswan textbooks are above 200 and I am not even sure if it was in color.

I did find a better quality maths textbook by one publisher Bharti Bhawan priced at 100 but their books are devoid of color. The authors have retained the copyright with them and the publisher has not even have left their website or email address in the book.

The problem with these publishers may be that they print the books in Delhi where costs could be high. There is only one place in India where you can publish high-quality books in full color at a very very low price and that is Sivakasi, the place in Tamil Nadu from where all the Diwali fireworks come.

So, my advice to all these Delhi publishers is to visit the factories in Sivakasi and ask Delhi printers to match the price.

Established big-name Indian textbook publishers should also focus on state board student textbook market. They need to first cut their price. Sivakasi can help with that.

Pearson has been buying up all independent textbook and educational publishers. There are very few independent educational publishers left. (Have you noticed beloved Camlin stationery company is now part-owned by Mitsubishi Pencil) They have also put their people in the United Nations and are imposing their coursework on all over the world. Bill Gates has also jumped on their bandwagon and want all school teaching to be transferred online (on Microsoft Azure cloud running Pearson e-learning, of course). It is a bad omen if the fox is licking the lambs, as Navjot Sidhu once said.

Pearson-Microsoft’s product is called Common Core and this is being imposed on schools all over the United States by the Obama government. The Common Core system is also being imposed on schools all over the world via the United Nations. People from Pearson-Microsoft meet the top officials of school boards and their Common Core curriculum gets imposed down the line without any consultation. Parents, teachers, students, and school administrators have all bitterly complained about the Pearson-Microsoft product but the relentless assault on the traditional form of school learning goes on unabated. The Common Core curriculum has been faulted for dumbing down education, overloading school administration with non-teaching staff while pushing more computer sales, software licenses and cloud contracts.

Pearson is so sure about its education market fortunes that their are shedding Financial Times newspaper and Economist magazine (Economist claims it is a newspaper on the cover) to focus on its core incompetency.

Don’t think India will not fall under their global sweep. Already, the former DMK government has taken the first steps in Tamil Nadu. They called it Samacheer Kalvi, which is the exact Tamil translation for Common Core Education.

Solyndra has not turned a profit! Beware of US DOE’s PriceWaterHouseCoopers-style loss-hiding (yet to be released) profit-projecting accounting tricks!

Statistics are like bikinis. US Department of Energy lost money on rest of its portfolio.

Big 4 account firms are pros in hiding losses and projecting false profits. The same thing has happened in this case. As they say, the devil is in the detail. Read the new report from BloomBerg fully:
http://www.bloomberg.com/news/2014-11-12/u-s-expects-5-billion-from-program-that-funded-solyndra.html

US Department of Energy lost money on rest of its portfolio.

US Department of Energy lost money on rest of its portfolio.

 

The Department of Energy has disbursed about half of $32.4 billion allocated to spur innovation, and the expected return will be detailed in a report due to be released as soon as tomorrow, according to an official who helped put together the data.

The potential gains are the first estimate for the loan guarantee program released by the Energy Department. The $5 billion to $6 billion figure was calculated based on the average rates and expected returns of funds dispersed so far, paid back over 20 to 25 years.

The Energy Department didn’t disclose terms for investments in specific companies, and it declined to estimate how much the rest of its portfolio may earn.

“There’s no picking winners and losers — we’re just open for business and people apply,” Davidson said.

The only reason Elon Musk has paid back his loan was because he was able to bring in fresh investors not because his “green venture” was viable and actually turned a profit.

US Depart Of Energy claims Solyndra program has turned a profit when it has not

US Depart Of Energy claims Solyndra program has turned a profit when it has not