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Caster
On News You May Have Missed: Trump Vs Obama? Trump Pulled Out Of Iran Nuclear Deal To Spite Obama
~2.7 mins read

(LONDON) — A U.K. newspaper has published more leaked memos revealing a British ambassador’s blunt assessments of the Trump administration, including one in which the envoy to Washington claimed President Donald Trump pulled out of the Iran nuclear deal to spite predecessor Barack Obama.

In the May 2018 cable published by the Mail on Sunday, U.K. Ambassador Kim Darroch called Trump’s decision to abandon the international accord “an act of diplomatic vandalism, seemingly for ideological and personality reasons” because the pact “was Obama’s deal.”

Darroch wrote the memo after then-Foreign Secretary Boris Johnson visited Washington in a failed attempt to persuade the United States not to abandon the 2015 nuclear agreement.

He alleged the White House had no strategy for what would come after its withdrawal and “no sort of plan for reaching out to partners and allies.”


The newspaper published new details from confidential diplomatic cables despite a police warning that making the documents public might be a crime.

Scotland Yard is hunting for the perpetrator who leaked confidential diplomatic cables to the Mail on Sunday. Last week the newspaper published memos from Darroch describing the Trump administration as dysfunctional and inept.

The publication of the ambassador’s unguarded views, meant for a small group of ministers and senior officials in London, cost him his job.

Trump responded by calling Darroch “very stupid” and a “pompous fool” in a Twitter fusillade, and the White House cut off contact with the British envoy.

Darroch announced his resignation Wednesday, saying “the current situation is making it impossible for me to carry out my role as I would like.”

He remains formally in the post while a successor is chosen for one of Britain’s most important diplomatic jobs.

British politicians and officials are embarrassed at the leak of Darroch’s frank — though widely shared — opinions about Trump. And they are angry that a British ambassador was forced to step down because of pressure from a foreign leader.

Some also blame Johnson, who is likely to become Britain’s next prime minister, for refusing to publicly defend Darroch after Trump posted disparaging tweets about the ambassador for two days. Darroch has said Johnson’s silence contributed to his decision to quit.

 
British officials have said they have no evidence that hacking was involved in the documents’ release, and that the culprit is likely to be found among politicians or civil servants in London.

Rumors are swirling in government circles in London about who was behind the leak, widely seen as benefiting supporters of Brexit and Trump.

The journalist who reported the cables, Isabel Oakeshott, is a strong supporter of Brexit and an ally of Brexit Party leader Nigel Farage, who also is Britain’s leading champion of Trump.

Farage has accused Darroch of lacking enthusiasm for Britain’s departure from the EU and said he should be replaced with “a non-Remainer who wants a trade deal with America.”

Police are investigating the leak as a potential breach of the Official Secrets Act, which bars public servants from making “damaging” disclosures of classified material. Breaking the act carries a maximum sentence of two years in prison, though prosecutions are rare.

Contentiously, police issued a warning to journalists that publishing the documents “could also constitute a criminal offence.”

Both Johnson and Jeremy Hunt, his rival in the race to be Britain’s next leader, defended the media’s right to publish. And the Mail on Sunday said publication was in the public interest.

“Our readers across the globe now have important information about how Britain tried, but failed, to stop President Trump abandoning the Iran nuclear deal,” the newspaper said in a statement.

“What could be more in the public interest than a better understanding of how this position was reached, which may have serious consequences for world peace?”

Source: Time
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Caster
On News You May Have Missed: Facebook Wants To Get It's Own Currency And US Senators Don't Wanna Hear It
~3.2 mins read

Facebook has come under bipartisan attack in the US Congress over its plans to launch a new digital currency, with one prominent senator accusing the social media giant of displaying "breathtaking arrogance" in its bid to access people's savings.

Facebook announced in June that it planned to launch a cryptocurrency known as Libra next year, a proposal that has caused alarm because of the enormous market power the company wields and its recent history of data breaches.

The US Federal Trade Commission last week approved a fine of roughly US$5 billion ($7.1 billion) against Facebook for mishandling users’ personal information.

Speaking at a special hearing of the Senate Banking Committee on Tuesday, local time, Democratic Senator Sherrod Brown said: "Facebook is dangerous.

"Like a toddler who has gotten his hands on a book of matches, Facebook has burned down the house over and over, and called every arson a learning experience."

Referencing Facebook's early motto of "move fast and break things", Brown said the company could not be trusted to handle people's money.

"They moved fast and broke our political discourse. They moved fast and broke journalism. They moved fast and helped incite a genocide. They moved fast and they’re helping to undermine our democracy," said Brown, a popular senator from Ohio who surprised many observers by declining to run for president this year.

"We would be crazy to give them a chance to experiment with people’s bank accounts, to use powerful tools they don’t understand like monetary policy to jeopardise hardworking Americans’ ability to provide for their family."
 
Brown said Facebook had displayed a "breathtaking amount of arrogance" in believing it could provide a currency for the entire world after its recent scandals

David Marcus, head of blockchain with Facebook speaks during a Senate Banking Committee hearing in Washington, DC.CREDIT:BLOOMBERG

Republican Senator Martha McSally said: "I don't trust you guys.

"Instead of cleaning up your house you are launching into a new business model."

US President Donald Trump tweeted last week that the Libra, "will have little standing or dependability".
 
Trump said he was "not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air".

US Federal Reserve chairman Jerome Powell warned last week that "Libra raises many serious concerns regarding privacy, money laundering, consumer protection and financial stability".

Facebook was represented at the hearings by David Marcus, the head of the company's new digital currency division Calibra.

He said the new currency would make transferring money across the globe quicker and cheaper than traditional bank transfers. 

"The status quo is not working for many - it is too expensive for people around the world to use and transfer their money," he said.

"We believe Libra can offer a more efficient, low-cost, and secure alternative."

He assured the Senate committee that Facebook would not begin offering Libra until it has received government approval and regulatory concerns are addressed.

"We know we need to take the time to get this right," Marcus said.
 
"I know we have to earn people's trust for a very long period of time."

Facebook has been under increasing pressure over its huge market power, with leading Democratic presidential contenders Elizabeth Warren and Bernie Sanders vowing to break the company up to promote competition.

Senators on the committee raised a range of concerns on Tuesday, including about how the company would prevent money laundering, fraud and the violation of international sanctions.

Facebook has said it wants to make Libra available through its Messenger feature and texting platform WhatsApp, as well as through a standalone app.
 
Calibra has pledged that it will not share customer data with Facebook or external third parties unless it has consent, or in "limited cases," where it is necessary.

Marcus said Facebook would not monetise users’ data related to Libra, and that no financial or account data from the Libra network would be shared with Facebook.

"We’ve heard loud and clear from people, they don’t want those two types of data streams connected," Marcus said.

Source: The Sydney Morning Herald

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