Paul Craig Roberts on the Dollar Demise and the Future of the Negative Interest Rate
Published by Boom Bust
About: Where have all the banks gone? Well, according to statistics from the FDIC, banks are going the way of the dinosaur.
We’ll tell you all about it.
Also economist and former Assistant Treasury Secretary, Paul Craig Roberts, joins Erin today to discuss all things Fed policy.
Finally, Rachel Kurzius and Erin discuss the high net-worth practice of “jurisdiction shopping” in today’s Big Deal.
The Chinese Want To Spend Billions Constructing A 600 Acre “China City” In New York State
The Chinese have made trillions of dollars flooding our shores with super cheap products, and now they are using some of that money to buy land and property all over America. For example, there is now a proposal to construct a multibillion dollar “China City” that would span approximately 600 acres in a remote area of New York state. This “China City” (that is actually what it would be called) would be located on Yankee Lake in Sullivan County, New York. The plans anticipate large numbers of Chinese businesses, plenty of homes for Chinese immigrants, a Chinese high school, a college, a casino and even a theme park. And the first 600 acres is only for “phase one” of the plan. Ultimately, the goal is for “China City” to cover more than 2,000 acres. Those promoting this plan say that it will be a great way for New Yorkers to learn to appreciate Chinese culture.
So should we be concerned that the Chinese want to place a little slice of communist China right in the heart of New York state?
Should we really be allowing other nations (especially ones that publish maps showing what will happen when they nuke us) to be setting up self-sustaining communities inside our own country that have no intention of integrating into the wider culture?
David North of the Center for Immigration Studies is one of those that is sounding the alarm over this project. According to him, the eventual goal of the “China City” project is to essentially take over two small towns and cover a total of more than 2,000 acres…
The first version of the plan to emerge was a grandiose one. It would cover more than 2,000 acres (more than three square miles) spread over the towns of Mamakating and Thompson. It would include a Chinese theme park, a city full of China-related businesses, a high school, a college, and 1,000 residences. Every province in China would have an office there and the place would be replete with symbols of Chinese culture. For more on these plans see CCOA’s website, festooned with golden dragons and text in both Mandarin and English. When finished it would be a $6 billion project, its backers say.
But for now, the first phase is only going to cover about 600 acres…
A revised version of the initial offering was proposed later; this would, as a modest start to the broader project, include a college, an urban area, some family housing, and lots of student housing; it would cover less than 600 acres and would all be in the town of Thompson, whose officials, a local lawyer tells me, are somewhat less hostile to the plan than those in Mamakating.
And this is not the first time that this kind of thing has been proposed. As I reported last year, a different Chinese group has purchased 200 acres of land in a rural area of Michigan and hopes to create a “China City” out there…
A Chinese group known as “Sino-Michigan Properties LLC” has bought up 200 acres of land near the town of Milan, Michigan. Their plan is to construct a “China City” with artificial lakes, a Chinese cultural center and hundreds of housing units for Chinese citizens. Essentially, it would be a little slice of communist China dropped right into the heartland of America. This “China City” would be located about 40 minutes from both Detroit and Toledo, and it would be marketed to Chinese business people that want to start businesses in the United States.
You can read the full article about that project right here.
Most of the time, when the Chinese gobble up our properties they do not do it in such large chunks. But make no mistake – they are voraciously buying up real estate right now. In fact, CNN recently published an article about the cities where they are the most active…
New York and Los Angeles top the list of U.S. cities they are most interested in, according to Juwai.com, a website where Chinese buyers browse global real estate listings.
More surprisingly, Philadelphia and Detroit come in at No. 3 and No. 4.
The top 10 list is rounded out by Houston, Chicago, Las Vegas, Atlanta, San Diego and Memphis.
Chinese buyers purchased $8.2 billion worth of U.S. property in 2012, according to Juwai.
It has been estimated that the Chinese are now buying one out of every ten homes sold in the state of California. And this buying spree actually appears to be accelerating. The following is a brief excerpt from a recent CNBC article entitled “Chinese buying up California housing“…
At a brand new housing development in Irvine, Calif., some of America’s largest home builders are back at work after a crippling housing crash. Lennar, Pulte, K Hovnanian, Ryland to name a few. It’s a rebirth for U.S. construction, but the customers are largely Chinese.
“They see the market here still has room for appreciation,” said Irvine-area real estate agent Kinney Yong, of RE/MAX Premier Realty. “What’s driving them over here is that they have this cash, and they want to park it somewhere or invest somewhere.”
So where did they get all of this cash?
A lot of it came from us of course. We have lost tens of thousands of businesses and millions of jobs to the Chinese, and now they are literally buying up little pieces of America with the money that we spent on all of the cheap plastic trinkets that they exported to us.
And they are not just buying up residential real estate. They are buying lots of commercial real estate as well. In fact, in a previous article I talked about how one Chinese firm recently purchased one of the most important landmarks in New York City…
Chinese conglomerate Fosun International Ltd. (0656.HK) will buy office building One Chase Manhattan Plaza for $725 million, adding to a growing list of property purchases by Chinese buyers in New York city.
The Hong Kong-listed firm said it will buy the property from JP Morgan Chase Bank, according to a release on the Hong Kong Stock Exchange website.
Chinese firms, in particular local developers, have looked overseas to diversify their property holdings as the economy at home slows. Chinese individuals also have been investing in property abroad amid tight policy measures in the mainland residential market.
Earlier this month, Chinese state-owned developer Greenland Holdings Group agreed to buy a 70% stake in an apartment project next to the Barclays Center in Brooklyn, N.Y., in what is the largest commercial-real-estate development in the U.S. to get direct backing from a Chinese firm.
So where is all of this eventually heading?
Should we all start learning how to speak Chinese?
This article first appeared here at the The American Dream. Michael Snyder is a writer, speaker and activist who writes and edits his own blogs The American Dream and Economic Collapse Blog. Follow him on Twitter here.
Image credit: http://endoftheamericandream.com
Planned Parenthood Behind Massive Obamacare Push
Published by NextNewsNetwork
About: Knock, knock, who’s there? Obamacare! This is no joke. Very soon your dinner may be interrupted by a representative from a new outreach campaign educating the public about the Affordable Care Act, or Obamacare as it’s commonly known.
“Community Connect, LLC” has been posting ads on craigslist seeking Canvassers to work 5 hour shifts for 12 dollars per hour and team leaders for 15 per hour…and they state they’re working with the Planned Parenthood National office.
According to the ad, the campaign is set to run from November through March 2014 and is starting in Dallas, FT. Worth, Houston, as well as west palm beach and miami florida.
So who is Community Connect, LLC? After a little investigation I discovered that they we recently incorporated on October 23, 2013 in the state of Delaware.
They were incorporated by the “CORPORATE CREATIONS NETWORK, INC” who operates as their delaware registered agent. and because they were incorporated in Delaware, officer and director names are not listed on their corporate documents.
However, because they’re doing business in Florida they’ve registered as a foreign LLC. Documents filed with the state of florida show Community Connect LLC is managed by Planned Parenthood from their principal address in West 33rd Street in New York, NY.
These corporate filings show that Community Connect LLC is not merely “working with” Planned Parenthood, as they claim, but rather they’re being entirely managed by Planned Parenthood itself.
Where does planned parenthood get it funding to form an LLC and launch a door to door campaign promoting Obamacare? Well, according to FactCheck.org Planned Parenthood receives two federal governments sources, the Title X Family planning program and Medicaid.
In August the Washington Times reported that Obama boosted the budget of Planned Parenthood. Clearly now we can see those federal funds are going to being used to interrupt your dinner with a knock at your door and the 10 words Ronald Reagan referred to “most terrifying”…. “I’m with the Government, and we’re here to help”
For the next news network, I’m Gary Franchi
Meet the Next News Team: http://youtu.be/2QnNKwQ2WkY
By Tyler Durden
Thursday Humor: Obama “Fixes” The Economy
As the President loses his Millennial voting base, despite “fixing” Obamacare, his populist push for a raise to the minimum wage (who wouldn’t want more money than ‘market rates’ for doing the same shit) and class-warfare-inspiring inequality speech may be his party’s last best hope. However, in the meantime, if US citizens can tear themselves away from X-Factor for 30 seconds, the following clear concise chart shows how easy it is to create 140,000 jobs… Our question… why not raise the minimum wage to $100?
— Barack Obama (@BarackObama) December 4, 2013
The minimum wage sounds nice on the surface: workers earning $8 per hour would certainly be better off if they were earning $12 per hour instead. But economics professor Antony Davies explains that this view of the minimum wage overlooks an important detail: The minimum wage does not force employers to pay a particular wage to every worker; it forces employers to pay a particular wage to every worker they choose to keep. While the minimum wage may be well-intentioned public policy, it often huts the very workers most in need of our help.
Bush and Obama have different flavors. But both are crony capitalists. Bush was the Republican version, Obama is the Democrat version. Both have sought to more closely link business and government, to expand the presidency and bureaucracy, and to reduce the inherent freedoms of the American people.
They both like power. They both (I believe anyway) see the Constitution as something to get around, not something to celebrate. Both have taken this country down a very dangerous path.
(From Real Clear Politics)
The problem with what the president is doing is that he’s not simply posing a danger to the constitutional system. He’s becoming the very danger the Constitution was designed to avoid. That is the concentration of power in every single branch.
Image credit: http://www.againstcronycapitalism.org
Too Big To Fail Banks Are Taking Over As Number Of U.S. Banks Falls To All-Time Record Low
The too big to fail banks have a larger share of the U.S. banking industry than they have ever had before. So if having banks that were too big to fail was a “problem” back in 2008, what is it today? As you will read about below, the total number of banks in the United States has fallen to a brand new all-time record low and that means that the health of the too big to fail banks is now more critical to our economy than ever. In 1985, there were more than 18,000 banks in the United States. Today, there are only 6,891 left, and that number continues to drop every single year. That means that more than 10,000 U.S. banks have gone out of existence since 1985. Meanwhile, the too big to fail banks just keep on getting even bigger. In fact, the six largest banks in the United States (JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs and Morgan Stanley) have collectively gotten 37 percent larger over the past five years. If even one of those banks collapses, it would be absolutely crippling to the U.S. economy. If several of them were to collapse at the same time, it could potentially plunge us into an economic depression unlike anything that this nation has ever seen before.
Incredibly, there were actually more banks in existence back during the days of the Great Depression than there is today. According to the Wall Street Journal, the federal government has been keeping track of the number of banks since 1934 and this year is the very first time that the number has fallen below 7,000…
The number of federally insured institutions nationwide shrank to 6,891 in the third quarter after this summer falling below 7,000 for the first time since federal regulators began keeping track in 1934, according to the Federal Deposit Insurance Corp.
And the number of active bank branches all across America is falling too. In fact, according to the FDIC the total number of bank branches in the United States fell by 3.2 percent between the end of 2009 and June 30th of this year.
Unfortunately, the closing of bank branches appears to be accelerating. The number of bank branches in the U.S. declined by 390 during the third quarter of 2013 alone, and it is being projected that the number of bank branches in the U.S. could fall by as much as 40 percent over the next decade.
Can you guess where most of the bank branches are being closed?
If you guessed “poor neighborhoods” you would be correct.
According to Bloomberg, an astounding 93 percent of all bank branch closings since late 2008 have been in neighborhoods where incomes are below the national median household income…
Banks have shut 1,826 branches since late 2008, and 93 percent of closings were in postal codes where the household income is below the national median, according to census and federal banking data compiled by Bloomberg.
It turns out that opening up checking accounts and running ATM machines for poor people just isn’t that profitable. The executives at these big banks are very open about the fact that they “love affluent customers“, and there is never a shortage of bank branches in wealthy neighborhoods. But in many poor neighborhoods it is a very different story…
About 10 million U.S. households lack bank accounts, according to a study released in September by the Federal Deposit Insurance Corp. An additional 24 million are “underbanked,” using check-cashing services and other storefront businesses for financial transactions. The Bronx in New York City is the nation’s second most underbanked large county—behind Hidalgo County in Texas—with 48 percent of households either not having an account or relying on alternative financial providers, according to a report by the Corporation for Enterprise Development, an advocacy organization for lower-income Americans.
And if you are waiting for a whole bunch of new banks to start up to serve these poor neighborhoods, you can just forget about it. Because of a whole host of new rules and regulations that have been put on the backs of small banks over the past several years, it has become nearly impossible to start up a new bank in the United States. In fact, only one new bank has been started in the United States in the last three years.
So the number of banks is going to continue to decline. 1,400 smaller banks have quietly disappeared from the U.S. banking industry over the past five years alone. We are witnessing a consolidation of the banking industry in America that is absolutely unprecedented.
Just consider the following statistics. These numbers come from a recent CNN article…
-The assets of the six largest banks in the United States have grown by 37 percent over the past five years.
-The U.S. banking system has 14.4 trillion dollars in total assets. The six largest banks now account for 67 percent of those assets and all of the other banks account for only 33 percent of those assets.
-Approximately 1,400 smaller banks have disappeared over the past five years.
-JPMorgan Chase is roughly the size of the entire British economy.
-The four largest banks have more than a million employees combined.
-The five largest banks account for 42 percent of all loans in the United States.
-Bank of America accounts for about a third of all business loans all by itself.
-Wells Fargo accounts for about one quarter of all mortgage loans all by itself.
-About 12 percent of all cash in the United States is held in the vaults of JPMorgan Chase.
As you can see, without those banks we do not have a financial system.
Our entire economy is based on debt, and if those banks were to disappear the flow of credit would dry up almost completely. Without those banks, we would rapidly enter an economic depression unlike anything that the United States has seen before.
It is kind of like a patient that has such an advanced case of cancer that if you try to kill the cancer you will inevitably also kill the patient. That is essentially what our relationship with these big banks is like at this point.
Unfortunately, since the last financial crisis the too big to fail banks have become even more reckless. Right now, four of the too big to fail banks each have total exposure to derivatives that is well in excess of 40 TRILLION dollars.
Keep in mind that U.S. GDP for the entire year of 2012 was just 15.7 trillion dollars and the U.S. national debt is just 17 trillion dollars.
So when you are talking about four banks that each have more than 40 trillion dollars of exposure to derivatives you are talking about an amount of money that is almost incomprehensible.
Posted below are the figures for the four banks that I am talking about. I have written about this in the past, but in this article I have included the very latest updated numbers from the U.S. government. I think that you will agree that these numbers are absolutely staggering…
Total Assets: $1,947,794,000,000 (nearly 1.95 trillion dollars)
Total Exposure To Derivatives: $71,289,673,000,000 (more than 71 trillion dollars)
Total Assets: $1,319,359,000,000 (a bit more than 1.3 trillion dollars)
Total Exposure To Derivatives: $60,398,289,000,000 (more than 60 trillion dollars)
Bank Of America
Total Assets: $1,429,737,000,000 (a bit more than 1.4 trillion dollars)
Total Exposure To Derivatives: $42,670,269,000,000 (more than 42 trillion dollars)
Total Assets: $113,064,000,000 (just a shade over 113 billion dollars – yes, you read that correctly)
Total Exposure To Derivatives: $43,135,021,000,000 (more than 43 trillion dollars)
Please don’t just gloss over those huge numbers.
Let them sink in for a moment.
Goldman Sachs has total assets worth approximately 113 billion dollars (billion with a little “b”), but they have more than 43 TRILLON dollars of total exposure to derivatives.
That means that the total exposure that Goldman Sachs has to derivatives contracts is more than 381 times greater than their total assets.
Most Americans do not understand that Wall Street has been transformed into the largest casino in the history of the world. The big banks are being incredibly reckless with our money, and if they fail it will bring down the entire economy.
The biggest chunk of these derivatives contracts that Wall Street banks are gambling on is made up of interest rate derivatives. According to the Bank for International Settlements, the global financial system has a total of 441 TRILLION dollars worth of exposure to interest rate derivatives.
When that Ponzi scheme finally comes crumbling down, there won’t be enough money on the entire planet to fix it.
We had our warning back in 2008.
The too big to fail banks were in the headlines every single day and our politicians promised to fix the problem.
But instead of fixing it, the too big to fail banks are now 37 percent larger and our economy is more dependent on them than ever before.
And in their endless greed for even larger paychecks, they have become insanely reckless with all of our money.
Mark my words – there is going to be a derivatives crisis.
When it happens, we are going to see some of these too big to fail banks actually fail.
At that point, there will be absolutely no hope for the U.S. economy.
We willingly allowed the too big to fail banks to become the core of our economic system, and now we are all going to pay the price.
This article first appeared here at the Economic Collapse Blog. Michael Snyder is a writer, speaker and activist who writes and edits his own blogs The American Dream and Economic Collapse Blog. Follow him on Twitter here.
Image credit: http://theeconomiccollapseblog.com
Time to sell? Greenspan says there’s no bubble in the stock market
He says he didn’t see the housing bubble emerging 7 years ago and that regardless the bubble wasn’t his fault anyway.
Now Greenspan doesn’t see a bubble in stocks. Valuations are increasingly out of whack. The Fed has held rates at 0% for a half decade, but there’s no bubble.
I think this thing runs a bit more but to say that the market isn’t bubbly ignores the obvious.
Click here for the article.
Image credit: http://www.againstcronycapitalism.org
Terrorism, Activism & the Rise of Independent Journalism
Control over the free flow of information is coming to a head with the Senate Bill 987, entitled, “Free Flow of Information Act of 2013” (FFIA) which is awaiting approval by the House and the Senate.
Supporters of this bill include:
• Senator Lindsey Graham
• Senator Barbara Boxer
• Senator Maria Cantwell
• Senator Patrick Leahy
The text of the FFIA explains how a “covered person” would not have to disclose their sources for news unless “a Federal court in the jurisdiction where the subpoena, court order, or other compulsory legal process has been or would be issued determines, after providing notice and an opportunity to be heard.”
Indeed, this legislation provides protection to the mainstream media with regard to anonymous sources never having to be revealed which also maintains that this conglomerate of media outlets would not have to divulge where any information they report on came from.
This is anti-ethical to a transparent press that provides source links or footnotes in articles to provide the audience with further information on the subject, as well as the exact source where the information originated.
This includes information provided by “record, document, or item obtained as the result of the eyewitness observations of, or obtained during the course of, alleged criminal conduct by the covered person, including any physical evidence or visual or audio recording of the conduct.”
However, in Section 5, the legislation outlines a catch-all allowance by any entity to obtain information about anonymous sources in the event that this indulgence would “prevent terrorist activity or harm to national security.”
The loophole is created with the ambiguous phrase: “Other acts that are reasonably likely to cause significant and articulable harm to national security.”
A covered person is defined as “a person who, with the primary intent to investigate events and procure material in order to disseminate to the public news or information concerning local, national, or international events or other matters of public interest, regularly gathers, prepares, collects, photographs, records, writes, edits, reports or publishes on such matters by”:
- Conducts interviews
- Makes direct observations of events
- “Collecting, reviewing, or analyzing original writings, statements, communications, reports, memoranda, records, transcripts, documents, photographs, recordings, tapes, materials, data, or other information whether in paper, electronic, or other form”
- Gathers information with the intent of disseminating the news
Forms of dissemination that are acceptable to the US government include:
- Print “(including newspapers, books, wire services, news agencies, or magazines)”
- Broadcasting “(including dissemination through networks, cable, satellite carriers, broadcast stations, or a channel or programming service for any such media)”
- Other means
Senator Dianne Feinstein spoke at a Senate Judiciary Committee (SJC) meeting in September to explain her view of who can be a journalist and who cannot.
Feinstein made note of how certain language in the bill would extend to persons who “really aren’t qualified at all” to call themselves journalists (as meant to be defined by the government).
The US government is attempting to define journalism as we know it today, and may be successful because of the ignorance of current incarnations of the development of news and reporting over time.
Following the tremendous contribution of friend and fellow journalist, James Corbett, this lecture furthers certain details of the study on the transformation of media as it relates to the definition of journalism over the centuries.
The first identified movement toward mass reporting of events can be attributed to the creation of the printing press . This machine made it possible for information to be copied en masse and distributed in a timely manner.
This modern equivalent of the printing press can be found in the creation of the internet . Just as with the printing press (which facilitated news to be distributed across a massive audience), the internet is the apparatus that allows modern alternative media to reach a substantial portion of the world’s population that have access to the World Wide Web.
In fact, the first newspapers were created in Europe by “merchants would distribute newsletters written by hand containing information regarding the weather, economic conditions, wars and human-interest stories.”
Today we find that with the creation of websites, alternative forms of information about current events have once again altered the landscape of what is accepted as disbursement of news and established online journalism .
In the mid-1800s, Paul Julius Reuter and his friend Carl Friedrich Gauss, “who was experimenting with an electric telegraph . . . opened a telegraphic news office ” and later founded Reuters News Agency (RNA).
In 1847, Reuter and Stargardt “distributed radical pamphlets at the beginning of the Revolutions of 1848.”
RNA used carrier pigeons to connect Berlin to Paris, and then used the telegraph to correlate with reporters all over the word who provided information on events to the central hub which then translated those reports to the public.
In our technological age, Twitter serves as a modern-day telegraph which “enables [microbloggers] to send and read ‘tweets’ which are text messages limited to 140 characters.”
With the creation of radio, talk news became another way news was provided to the public for educational purposes.
In the 1920s, “a Detroit station air[ed] what is believed to be the first radio news broadcast.”
Today there are a plethora of alternative talk radio stations that mirror the intent of that first news broadcast; to bring the audience information about politics, health and corporatism that directly affects our world.
Beginning in 1949, the National Broadcasting Corporation (NBC) was the first news agency to have a news show on television.
Since creation of YouTube in 2005, what has been called alternative media has been able to report on news independently from what is discussed in the mainstream media.
Just as the development of journalism has changed with the advent of technology, there is no difference between what has historically taken place and what is happening right now.
From the printing press to internet websites, the way in which we disseminate information to the public has changed.
The independent “alternative” media are simply going with the free flow of information, as news agencies of the past have done, to ensure the public is able to make an informed decision.
Only now, with the introduction of SB 987, is this industry being redefined for the express purpose of the government overseeing and granting privilege to certain “covered persons” as pre-approved journalists.
If journalism and news reporting is to survive, its integrity must be maintained. This means that the battle is not in whether or not a “seventeen year old can purchase a $5 website” and offer another perspective on local and international events, but whether or not uncompromised sources of information can remain relevant so the public can be truly informed.
Image credit: http://www.occupycorporatism.com
About the author:
U.S. Chamber cavalry arrives to help Mitch McConnell
The US Chamber says that McConnell is a “true conservative.”
I suppose, if securing a $3 billion earmark so that Senator Reid could declare victory (but oh so short lived) in the government shutdown is “conservative.”
And don’t forget completely wussing out on the debt ceiling deal. Very conservative.
This is Karl Rove and company here. This is the establishment thinking that the GOP might just win the Senate and they don’t want to lose a Senator who would become the Leader. The Chamber and much of the establishment need someone who will set an agenda in the Senate commensurate with their interests. God forbid McConnell be deposed by some small government Tea Party cretin.
Even if McConnell were to be primaried the establishment need not fear losing control completely in the Senate. Next in line for GOP leader is John Cornyn, a Bush guy.
But it would be an embarrassing blow and the Chamber has had quite enough embarrassment from the GOP caucus on the other side of the Capitol thank you very much.
(From The Washington Examiner)
“The people of Kentucky have a true conservative champion for American free enterprise in Senator Mitch McConnell. McConnell has a 92 percent lifetime score with the U.S. Chamber. We appreciate his efforts to fight back against the war on coal, and to protect Kentucky jobs from the harmful policies coming from Washington, D.C.,” said Chamber National Political Director Rob Engstrom.
Image credit: http://www.againstcronycapitalism.org
About Nick Sorrentino
Nick Sorrentino is the co-founder and editor of AgainstCronyCapitalism.org. A political and communications consultant with clients across the political spectrum, he lives just outside of Washington DC where he can keep an eye on Leviathan.
Baby taken from mother by UK social services in ‘forced caesarean’
Social services in the county of Essex reportedly obtained permission from a High Court to forcibly remove an unborn child from its mother’s womb by caesarean section. The Court Order was granted on the basis the woman had suffered a mental breakdown.
The Sunday Telegraph reported the story, citing the woman’s lawyers, who is now fighting for custody of her child. The woman, who is reportedly an Italian national, was in the UK on a business trip last year when she suffered a panic attack. She called the police who subsequently took her to a psychiatric facility where she was sectioned under the Mental Health Act.
Members of her family said the panic attack was caused by her failure to take medication for bipolar disorder, which she had been diagnosed with in Italy.
The legal documents handed to the Sunday Telegraph indicate that after 5 weeks in the ward, the woman was sedated and subjected to a caesarean section procedure to remove the unborn child from her womb. The Essex social services had received an order from a High Court giving them the go ahead to carry out the operation on the grounds that the woman was not mentally fit.
“I have never heard of anything like this in all my 40 years in the job,” Brendan Fleming, the woman’s British lawyer, told The Sunday Telegraph.
The woman’s lawyers say that she was never informed of the procedure.
The aggrieved returned to the UK in February of this year to claim custody of her child at a Crown Court. Her lawyers said that although the judge formed a favorable opinion of her, he ruled that the child should be put up for adoption because there was a danger that she could regress.
Following the ruling the case has snowballed and is now at the center of an international dispute. The woman has also filed a case with a High Court in Rome asking why an Italian citizen had been subjected to UK care proceedings. Her lawyers are currently trying to discern why no next of kin in Italy were informed when she was sectioned.
“If there were concerns about the care of this child by an Italian mother, then the better plan would have been for the authorities here to have notified social services in Italy and for the child to have been taken back there,” wrote Christopher Booker in his column in The Sunday Telegraph.
Lawyers also voiced some concern that the child was put up for adoption when there had been an offer from a family friend in the US to take care of her.