Edward Snowden’s New Book is a Self-Indulgent Omission of Facts. – City Journal

Permanent Record, by Edward Snowden (Metropolitan Books, 352 pp., $30)

Edward Snowden, the world famous former civilian contractor at the National Security Agency, was widely celebrated as a whistleblower because, before defecting to Russia, he shared with journalists highly classified documents exposing the NSAs sources and methods of monitoring online communications. Now, more than six years later, he has released a memoir, Permanent Record, the publication of which he described in a tweet from Moscow as an international conspiracy across 20 countries.

Snowden assertswith some justificationthat his leaks made cyberspace safer than in the past from the U.S. intelligence communitys spying and other intrusions. Certainly, by exposing how the NSA and its allies monitored telecommunications, he made it easier to keep messages and other activities secretnot only from his employer but also from law enforcement agenciesby measures such as end-to-end encryption. Of course, America wasnt the only state actor operating in cyberspace, and some hostile actors, like Russia, could slip through the hole that Snowden opened.

To understand how he punched this hole, consider some actions he took that he omits from the book. For example, as the House Permanent Select Committee on Intelligence revealed in its December 2016 report, Snowden removed digital copies of 1.5 million classified files from the NSA. In this haul, according to the Pentagon, some 900,000 of the files had originated at the Department of Defense and contained, among other things, information from the Cyber Command, a joint effort between the NSA and military intelligence to confront adversary intrusions in cyberspace. Other removed files contained documents that originated with allies, including the British, Australian, and Israeli intelligence services. Richard Rick Ledgett, who headed the NSAs damage-assessment team, described one file containing a 32,000-page database that could provide adversaries with a roadmap to the gaps in our surveillance. The breach needed to be remedied.

Any secret data removed without authorization from the NSAs secure facilities is, by definition, compromised. Regardless of whether Snowden supplied these files to journalists, parked them in the cloud, gave them to foreign governments, or threw them in the Pacific Ocean, the Defense Department had no choice but to shut down all the sources divulged in them. It was a Herculean task that took 200 to 250 intelligence officers several months to accomplish, and the loss likely made it more difficult to protect American cyberspace from Russian intrusions.

Journalists were not the only people to whom Snowden reached out. After he took the files and went to Hong Kong, Snowden secretly contacted Russian government officials, whom we now know considered his information important enough to inform Vladimir Putin. As Putin himself revealed in a September 3, 2013 televised press conference: Snowden first went to Hong Kong and got in touch with our diplomatic representatives. He added, I was informed that there was such a man, agent of special services. We dont know what Snowden told these diplomatic representatives, or what they relayed to PutinSnowden does not reveal his interaction with thembut it was enough for Putin to authorize his trip to Moscow.

It was Wikileaks, which Secretary of State Mike Pompeo once called a hostile intelligence service, that helped Snowden get from Hong Kong to Moscow. Julian Assange, its cofounder, not only sent his associate Sarah Harrison to Hong Kong but also used Wikileaks funds to pay for Snowdens ticket on the Russian airline Aeroflot. Assange admitted this at his June 23, 2013 news conference, confirming that we paid for those arrangements. Assange also admitted that he and Harrison used Snowdens credit card to book decoy flights. Harrison then personally escorted Snowden to Moscow.

Finally, though Snowden doesnt identify his employer or source of income in Russia, U.S. intelligence found that he remained in contact with Russian intelligence until at least 2016. We know this because the House Intelligence Committee found, based on its access to U.S. intelligence, that Since Snowdens arrival in Moscow [on June 23, 2013], he has had, and continues to have, contact with Russian intelligence services. Representative Adam Schiff, the committees ranking Democrat, and Representative Mike Rogers, its ranking Republican, confirmed this bipartisan conclusion to me.

Snowden chose not to include any of these four points in his permanent record, instead advertising his status as a whistleblower superhero. He has remained unique among them. Other whistleblowers have gone to their respective services inspector general with their concerns; by contrast, Snowden got in touch with agents of the Russian government. Other whistleblowers merely reported putative malfeasance; Snowden removed 1.5 million classified files and fled the country. And other whistleblowers accepted the legal consequences of their actions; Snowden evaded them by defecting to Russia. Thats a permanent record of its own.

Edward Jay Epsteins most recent book was How America Lost Its Secrets: Edward Snowden, the Man and the Theft.

Photo by Justin Sullivan/Getty Images

Link:
Edward Snowden's New Book is a Self-Indulgent Omission of Facts. - City Journal

US abuses justice systems to target its enemies, like it did with Huawei Assanges father – RT

The incarceration and extradition trial of Julian Assange is one of many examples of the US abusing the legal systems of other countries to target its political enemies, said John Shipton, the father of WikiLeaks founder.

Assange is currently held at a top security UK prison pending a hearing on extradition to the US. An American court wants him on espionage charges that may effectively result in imprisonment for life. Assanges case is one of many in which Washington puts pressure on other nations to abuse their legal systems to persecute people that the US government doesnt like, Assanges father believes.

The situation with Assange is similar to what happened to other people in Washingtons crosshairs, Shipton told an audience at the University of Cologne on Saturday.

One similar case he cited is that of Huawei Chief Financial officer Meng Wanzhou, who was arrested in Canada on a request from the US. Like Assange, she is fighting an extradition request by the US, which accuses her of financial fraud in relation to violations of anti-Iranian sanctions imposed by Washington.

Another example is Ola Bini, a digital rights activist and personal friend of Assange, who got arrested in Ecuador, in a move apparently coordinated with Assanges expulsion from the nations embassy in London. Bini spent 70 days in jail without formal charges being brought, even though Ecuadoran government officials immediately claimed he had been involved in computer intrusion. The Swedish citizen has been released but is forbidden to leave the country.

Shipton said it was obvious why his son is wanted by the US. After all, his creation, WikiLeaks, continues to expose the nefarious activities of the American government, even as Assange is kept under lock and key.

There [was] a coup in Bolivia two weeks ago. If you wish, you can look up [the WikiLeaks site for] the name[s] of those involved in the coup, and you will see reports describing those who are corrupted; those who betray their country for money; those who have constant contact with the United States embassy, he said.

If you like this story, share it with a friend!

Go here to read the rest:
US abuses justice systems to target its enemies, like it did with Huawei Assanges father - RT

Charged with Receiving Payments for Fishing Quota – Iceland Monitor

Bernhardt Esau. Photo/Namibian Ministry of Fisheries

The leaking of documents to Wikileaks by a former employee of Samherji, a leading company in the Icelandic fishing industry, continues to have consequences in Namibia, where the scandal is dubbed the Fishrot Case.

Namibian President Hage Geingob has announced that former Justice Minister Sacky Shanghala and former Fisheries Minister Bernardt Esau, both currently in prison, will be withdrawn from the National Assembly and removed from the SWAPO party list, mbl.is reports, quotingInformant.

Six Namibian officials arrested and charged for corruption and money laundering, following the release of the 30,000 documents by Wikileaks, will remain in police custody at least until February 20, while the case is being investigated, mbl.is reports. Their lawyers did not request their release on bail.

The men arrested last week are Bernhardt Esau, who recently resigned as minister of fisheries, former Minister of Justice Sacky Shanghala, James Hatuikulipi, who quit his position as chairman of the state-run Fishcor fishing company, Esaus son-in-law Tamson Fitty Hatuikulipi, his employee Ricardo Gustavo and Pius Taxa Mwatelulo.

According to The Namibian, the Namibian State alleges that the first five men listed above solicited, accepted or agreed to accept payments totaling at least 103 million Namibian dollars from the Icelandic-owned companies Mermaria Seafood Namibia and Esja Seafood from 2014 to 2019 to secure a continuous allocation of fishing quotas for the two companies.

Esau, Shanghala, James and Fitty Hatuikulipi and Gustavo are furthermore accused of having defrauded the Namibian government when making a cooperation agreement with the Angolan government in June 2014 - an agreement meant to benefit the citizens of Namibia and Angola, which instead benefitted the five accused.

Additional charges include fraud and tax evasion.

The men who were to lead the two legal teams representing the six, were arrested on Friday for working in Namibia without having employment permits.

Related news:

See the original post:
Charged with Receiving Payments for Fishing Quota - Iceland Monitor

CEO of Namibia’s State-Owned Fishing Company Suspended In Corruption Probe – OCCRP

Namibias state-owned fishing company has suspended its chief executive following media reports that government officials had taken bribes in exchange for the multimillion-dollar fishing rights to horse mackerel, Reuters reported.

Namibian officials had taken bribes in exchange for the fishing rights. (Credit: Philippe Gabriel[CC BY 2.0])Fishcor CEO Mike Nghipunya was reportedly sent home a week ago after reports detailed his involvement in a corrupt fishing rights scheme, Bennet Kangumu, Fishcors acting chairman, told Reuters. We placed him on leave to allow preliminary investigations, Kangumu said.

Officials close to President Hage Geingob also have been linked to the allegations. In a video posted by Al Jazeera on Sunday, undercover reporters posing as businessmen collected video of ministers and other public officials agreeing to trade Namibias coastal fish for cash.

OCCRP wrote last month about a cache of 30,000 WikiLeaks documents, dubbed the Fishrot archive, that disclose how Iclandic fishing company Samherji paid nearly US$10 million to high-ranking African officials and politicians. The payments were transferred via Norwegian DNB bank accounts to shell companies in tax havens.

Two high-ranking officials in the Namibian government, Fisheries Minister Bernhard Esau and Justice Minister Sacky Shanghala, have resigned since the documents were published. Both denied any wrongdoing.

Geingog, who was re-elected to another term last week after receiving 56 percent of the vote, has lost a considerable support since the 2014 election, when he received 87 percent of the vote. Public frustration over corruption scandals and unemployment contributed to the decline, according to The Associated Press.

See more here:
CEO of Namibia's State-Owned Fishing Company Suspended In Corruption Probe - OCCRP

Bitcoin Trades Range-Bound As Investors Wait And See – Forbes

Bitcoin markets have been suffering a certain malaise lately, showing little volatility.

Bitcoin prices have been trading within a relatively tight range lately, experiencing minimal volatility as market observers wait for the next major catalyst to drive the cryptocurrency higher or lower.

The digital asset started moving primarily between $7,200 and $7,800 late last month, narrowing to a smaller range of roughly $7,200 to $7,400 on November 30th, CoinDesk price data shows.

The cryptocurrency has been experiencing this relative calm as it follows a broader, downward trend, during which it has repeatedly notched lower highs, additional CoinDesk figures reveal.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

Bitcoin is in a general downward trend with temporary technical bounces from oversold price points, said Joe DiPasquale, CEO of cryptocurrency hedge fund managerBitBull Capital.

The upcoming holiday season may also result in thinning volumes, adding further pressure on the price, he added.

Meanwhile, investors have adopted a wait and watch approach to see if any market catalysts help conclusively drive the market in a particular direction, concluded DiPasquale.

Bullish Technicals

While bitcoin has managed to stay within a reasonably defined range over the last several days, it has also been displaying some bullish technical signals, giving market observers hope that it may experience a positive breakout soon.

Mati Greenspan, founder of the newsletterQuantum Economics, weighed in on these developments, helping shed some light on the situation.

Over the last week, technical indicators have shown signs that a reversal may be in the cards soon, he stated.

At the moment, sentiment and volumes are at the lows. A strong push past the $8,000 [level] could very easily open the way back to the recent highs of $14,000, said Greenspan.

At the same time, Greenspan emphasized the limited nature of relying on technical analysis, noting that past performance is not always an indication of future results.

Adam Vettese, an investment analyst for eToro, also weighed in, stating that the technical picture is encouraging but not conclusive.

The price action still has a little bit further to go to reverse the long-standing downtrend, he added, so I would want to see a bit of a stronger reversal first.

Sentiment Data

Crypto investors have been particularly bullish or bearish, according to sentiment figures provided by cryptocurrency analytics platformTheTIE.io.

From a short-term point of view Bitcoin sentiment is very flat, Joshua Frank, cofounder of TheTIE.io, said yesterday.

Tweet volumes today are below average and daily Bitcoin sentiment is sitting right around 54% (neutral), he added.

The chart below depicts the relationship between price, daily sentiment and tweet volume:

Bitcoin prices, sentiment data and tweet volume.

There is nothing to suggest a strong upwards movement is coming from a purely sentiment point of view, said Frank.

Waiting For Whats Next

Considering the widespread malaise affecting the bitcoin markets, Marouane Garcon, managing director of crypto-to-crypto derivatives platformAmulet, summed up the mindset of many traders, investors and analysts.

I think that were all waiting for whats next, he stated.

I think the market needs more utility, added Garcon.

He mentioned decentralized finance, describing it as an exciting sector thats experiencing great growth and it has a great use case.

There needs to be a reason or several reasons for people to get excited about crypto again, said Garcon.

Disclosure: I own some bitcoin, bitcoin cash, litecoin, ether and EOS.

The rest is here:

Bitcoin Trades Range-Bound As Investors Wait And See - Forbes

Prominent Investor Says Halving Won’t Have a Big Impact on Bitcoin Price, Here’s Why – Forbes

Fuse switches sit inside an electrical supply cabinet inside the BitRiver Rus LLC cryptocurrency... [+] mining farm in Bratsk, Russia, on Friday, Nov. 8, 2019. Bitriver, the largest data center in the former Soviet Union, was opened just a year ago, but has already won clients from all over the world, including the U.S., Japan and China. Most of them mine bitcoins. Photographer: Andrey Rudakov/Bloomberg

The highly anticipated block reward halving of bitcoin is set to occur in May 2020. Despite popular belief, Morgan Creek Digital co-founder and partner Jason Williams said that it would have a minimal impact on the bitcoin price.

Halving unlikely to have immediate impact on bitcoin price (source: Jason Williams Twitter)

A block reward halving is a mechanism that is activated once every four years on the Bitcoin network that reduces the rate in which new BTC is mined.

Theoretically, halvings should eventually lead to an increase in the price of bitcoin, as less BTC flows into the market approaching its 21 million cap.

However, because halvings are anticipated years in advance by both investors and miners, whether bitcoin prices in halvings prior to the events occur remains unclear.

In an interview, Williams said that the cryptocurrency community is well aware of the date of the next halving and that miners tend to prepare before a halving occurs.

As such, he noted that the upcoming halving will not have any major effect on the price trend of bitcoin.

He said:

"For the community that are living this day to day they know the event is there. They even know the date (within a few days). Large miners that are holding BTC will have to sell to cover operational expenses or use cash as revenue halves.

New buyers have to come in to move this market up. So other than a new headline, the halving is being dealt with now by those who are operationally effected by it. Those that dont will be priced out of the mining business."

In previous halvings that occured in November 2012 and July 2016, it took well over a year for the market to start surging in both instances. In 2016, as anexample, after the halving occured, the bitcoin price slumped from $707 to $570.

It wasn't until December 2016 that the bitcoin market started to engage in an extended rally.

While halvings could havea long-termimpact on the price of bitcoin, they are unlikely to have an immediate effect on the short to medium-term price trend of BTC upon activation.

Still, some reports indicate that new investors are generally unaware of bitcoin halvings, which could be a variable as halving nears.

Grayscale, an investment firm under Digital Currency Group that operates the Bitcoin Investment Trust (GBTC), said in a report that many of the market participants it interviewed had no knowledge of halvings.

"The halving is close enough that its time to start talking about it more seriously, but far enough out in the future that its unclear whether its priced into the market efficiently. In fact, based on anecdotal conversations with market participants, we were surprised to learn that many of them were not even aware of this event," the report read.

As a scarce asset with a fixed supply at 21 million BTC, a block reward halving that affects the supply of bitcoin is likely to influence the price. But, based on previous halvings, it may be far-fetched to claim that halvings trigger immediate price reactions and strong rallies in the short-term.

Excerpt from:

Prominent Investor Says Halving Won't Have a Big Impact on Bitcoin Price, Here's Why - Forbes

Why Bloomberg Analysts Expect Bitcoin Price to Rally Past $10,000 – newsBTC

Bitcoin didnt have the best second half of 2019, plunging from a year-to-date high of $14,000 in June to $7,400, where it sits as of the time of writing this. At its lows, the cryptocurrency fell as low as $6,600, languishing as BTC buyers failed to step in amid selling pressure seemingly catalyzed by Chinese regulation of digital assets and the operators of a multi-billion dollar Bitcoin scam selling their coins.

Despite the harrowing backdrop, Bloombergs Mike McGlone of the business media giants Intelligence unit believes that Bitcoin has a positive outlook heading into 2020 and the next decade due to a confluence of factors.

This confluence, McGlone went as far as to say, could bring the cryptocurrency back into the five-digit range in the near future, which would be a welcome surprise for many investors in the industry, who has begun to think that Bitcoin has reentered a Crypto Winter state yet again.

Bloombergs McGlone believes that the bull case for Bitcoin is rapidly building, as long as the key support of $6,500 holds in the near future. In fact, the analyst went as far as to say that it is only a matter of time before BTC breaks the key resistance at $10,000. Why, you ask? Well, the Bloomberg analyst gave a confluence of reasons:

Firstly, he drew attention to the fact that as gold rallies, so too should Bitcoin. While the precious metal is currently trending lower, having peaked last summer in the midst of the trade war talks, the macro picture may start to favor gold (and thus Bitcoin) heading into 2020; a potential recession, restart of the trade war due to Hong Kong and Xinjiang regulations, and other underlying issues in the traditional system could boost alternative assets.

Secondly, McGlone opined that a perfect storm is building for the cryptocurrency in terms of its basic premises mass adoption and a fixed supply cap. Bitcoin is winning the adoption race among crypto assets and is becoming increasingly scarce, which favors price appreciation. Plenty can go wrong with a nascent asset, but unless the basic premises reverse, theres a higher probability to sustain price appreciation vs. depreciation, he wrote, in a seeming bid to support the idea that the halving will act as a negative supply shock to a market predicated on simple supply-demand economics.

It isnt only McGlone who thinks that Bitcoin will have a positive skew heading into the coming year.

Fundstrat Global Advisors Thomas Lee recently took to CNBCs Market Alert segment to talk about the latest going-ons in the stock and cryptocurrency markets. The host took some time to ask about Bitcoin, especially in regards to if the analyst believes that the bearish bias that has developed since June will continue into 2020.

Lee disagreed, stating that he expects for 2020 to be positive for Bitcoin. He specifically drew attention to three positive factors that are likely to push BTC higher heading into the coming year:

See the original post here:

Why Bloomberg Analysts Expect Bitcoin Price to Rally Past $10,000 - newsBTC

How the bitcoin market always overreacts – Decrypt

Anybody who has ever traded the bitcoin market is likely well aware of one thingit is notoriously volatile. Events that would barely move other markets can have a dramatic, but typically short-lived effect on bitcoin.

Here, we examine some of the most recent cases of volatility, and posit the possible rationale behind the madness that is bitcoin trading.

The most prominent overreaction in recent months was caused by comments from Chinese President Xi Jinping last month. During a speech made to the 18th collective study of the Political Bureau of the Central Committee, President Xi praised Bitcoin's underlying technology, blockchain, hailing it is an important breakthrough.

Almost immediately after President Xi's remarks were made public, bitcoin spiked from under $7,500, up to almost $10,000rising by a third in less than a dayending more than a month of decline. However, once the hysteria died down, the price of bitcoin again resumed its downtrend, falling back below $7,500, to its lowest value in over six months.

This isn't the first time a president's remarks have significantly influenced bitcoin's price action either. Back in July, US President Donald Trump posted a series of tweets slamming bitcoin, calling it "highly volatile and based on thin air," while remarking that unregulated crypto assets facilitate illegal activities.

That day the price of bitcoin fell from $12,000 to $11,200. But by the next day, the panic was over and the price rose back up towards $12,000.

Other events have similarly caused mass hysteria in the bitcoin market. In June, a flash crash on the Kraken cryptocurrency exchange saw bitcoin briefly fall to $100potentially as a result of a single large compromised account. This resulted in one of bitcoins largest-ever single-day dumps.

And yet again, once people realized the damage was limited, the price bounced back.

Since many cryptocurrencies, bitcoin included, derive much of their value as speculative investment vehicles, it stands to reason that any event that can significantly affect investor sentiment could alter its price action.

But in the bitcoin market, this is taken to the extreme, largely spearheaded by factors described as Fear Of Missing Out (FOMO)people jumping on positive price actionand Fear, Uncertainty and Doubt (FUD)a term used for negative news.

Be the first to get Decrypt Members. A new type of account built on blockchain.

With the unpredictability of future trends, the crypto market reacts highly emotionally to positive as well as negative news or events, said Gregor Krambs, cofounder of Alternative.me, which builds the Crypto Fear & Greed Index tool used to track sentiment in the crypto market.

The outcome of these mostly irrational decisions are driven by emotions of fear and greed, which get amplified by the vast amount of participants acting in the market, he added.

Prominent trader known as CryptoVince argues that institutions make the most of this, exaggerating the price swings. He told Decrypt, Retailers usually FOMO in upon good news causing a quick increase in price. Institutions countertrade the FOMO and sell/short bitcoin which will dramatically drop in the mid-term.

The exact opposite can also occur when bad news appears, which can explain bitcoin's price action in late October," he said.

As a result, significant good or bad news can cause a sudden rally or drop, as first responders emotionally react to the news, CryptoVince argued. This is then followed by algorithmic responses from higher volume traders, and lastly casual traders catching the back end of the price action.

As the initial hysteria dies down, the price then begins to stabilize, with a trend reversal often following shortly after.

Read the rest here:

How the bitcoin market always overreacts - Decrypt

70 cryptocurrency hedge funds have closed so far this year, investors weary of Bitcoin – The Next Web

If the latest trend continues, it looks like cryptocurrency focused hedge funds could be on the way out.

According to specialist researchers, Crypto Fund Research, more than 70 hedge funds specializing in investments into digital asset projects have closed this year, Bloomberg reports.

The majority of the closures identified came from North America and Europe, with 28 and 23 respectively.

This trend runs contrary to recent research from Fidelity Investments that suggested institutional investments in cryptocurrency were likely to increase over the coming five years.

Investors are reportedly nervous about venturing too deep into the cryptocurrency market because of its volatility and lack of regulation.

As governments look to clamp down on digital asset projects from tech giants like Facebook, the future of cryptocurrencies from an institutional perspective at least looks increasingly uncertain.

Published December 5, 2019 08:57 UTC

View post:

70 cryptocurrency hedge funds have closed so far this year, investors weary of Bitcoin - The Next Web

$60 million liquidated as Bitcoin pumps 8% in three minutes – Yahoo Finance

Bitcoin unexpectedly rose by 8% in just three minutes earlier today as bullish sentiment begins to re-enter the cryptocurrency markets.

Following an abrasive daily candle close which saw Bitcoin suddenly drop from $7,300 to $7,100 yesterday evening, it consolidated today at $7,200 before surging towards the $7,800 level of resistance.

The dramatic rise from $7,200 to $7,800 saw a total of $59.71 million in short positions liquidated on derivatives exchange BitMEX, according to Datamish.

Price has now began to consolidate in the $7,500 region, which could fuel a continuation rally back to the $8,000 region.

However, the 100 exponential moving average (EMA) on the four-hour chart has been a bitter point of resistance on three occasions over the past month, and that level will need to be broken before an extended rally can take place.

The 100 EMA currently lies at around $7,600, while the 200 EMA is at $7,950.

Its also worth noting that in addition to last months death cross, the 100 EMA is now sloping dangerously towards the 200 EMA, which could indicate that a further downside correction is on the cards.

If Bitcoin fails to break out above $8,000 over the coming weeks, it would mark another sinister lower high, which would suggest that the ongoing bear market is far from over and that downside price targets of $5,900 and $3,150 could well come into play.

For more news, guides, and cryptocurrency analysis, click here.

The post $60 million liquidated as Bitcoin pumps 8% in three minutes appeared first on Coin Rivet.

Continued here:

$60 million liquidated as Bitcoin pumps 8% in three minutes - Yahoo Finance