2012-06-07

Insanity

LONDON — While the Spanish government was able to sell all the bonds it wanted to Thursday, it was the usual suspects that did most of the buying: Spain's increasingly fragile banks.
[First Sentence From a NY Times Puff Piece. No Need to Provide Link, it won't work]

[M]eanwhile, the same happens in Spain, where the government is forced to borrow money (at nearly 7%) it can hardly raise in order to shore up banks that are borrowing from the ECB (at 1%) to lend to the Spanish government at (7%) so that the latter can… bail them out. Not even the sickest of minds could make this up!
http://www.nakedcapitalism.com/2012/06/much-much-more-than-it-fears-syriza.html

2012-06-03

What Could Go Wrong?







CAIRO (Reuters) - Egyptian pro-democracy campaigners called for a new uprising on Sunday, enraged that a court had spared former leader Hosni Mubarak his life over the killing of protesters during the street revolt that ended his three-decade rule.


Separately, Egypt planned to sell $496 million of treasury bills on Sunday, Bloomberg Businessweek reported.
The planned sale of debt will be split one-third in three-month and two-thirds in nine-month maturities. The yields at last week’s auction were 14.388% for the three-month debt and 15.825% for the nine-month issue, the news service reported.
http://www.marketwatch.com/story/egyptians-continue-protests-debt-sale-planned-2012-06-03?link=MW_home_latest_news

History Rhymes

A truck driver waits to pass through the Salang Tunnel. NY Times
Entrance to the Salang Tunnel circa 1989

The Salang tunnel fire occurred on 3 November 1982 in Afghanistan's Salang tunnel during the Soviet occupation of Afghanistan. Details are uncertain, but the incident may have been the deadliest known road accident, and one of the deadliest fires of modern times.

Soviet troops are withdrawing from Afghanistan, nine years after they swept into the country.
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The journey is especially dangerous on the Salang Pass through the Hindu Kush Mountains, where more than 10,000 mujahideen operate.
The mujahideen - Afghan Islamic fighters - have been involved in heavy battles to try to force a Soviet retreat.


SALANG PASS, Afghanistan — Nowhere is the impact of Pakistan’s ban on NATO truck traffic more visible than here at the top of the Hindu Kush, on one of the only alternative overland routes for supply convoys to reach Kabul and the rest of the country.
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This is the only passable route for heavy truck traffic bringing NATO supplies in from the Central Asian republics to the north, as they now must come.
There are other roads, but they are often single-lane dirt tracks through even higher mountain passes, or they are frequently subject to ambushes by insurgents and bandits. So a tunnel built to handle 1,000 vehicles a day, and until the Pakistani boycott against NATO in November handling 2,000, now tries — and often fails — to let 10,000 vehicles through, alternating northbound and southbound truck traffic every other day.
“It’s only a matter of time until there’s a catastrophe,” said Lt. Gen. Mohammad Rajab, the head of maintenance for the Salang Pass. “One hundred percent certain, there will be a disaste[r]"
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“I’d rather be driving to Kandahar,” he said. Trucks need to have armed guards because of insurgents on that route, he said, “but I’d rather do that than all this waiting.”
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[P]akistan has expressed willingness to reopen the frontier: for a fee of thousands of dollars per truck, compared with $250 previously. “We’re not about to get gouged in the price,” Defense Secretary Leon E. Panetta


There is one downside to the northern routes, however. Bringing supplies overland on trucks and railroads all the way from Europe and across Central Asia costs two or three times as much as shipping them by sea and moving them up through Pakistan.
"Cost is a huge issue, obviously, for anything we're doing in the [Defense] Department and the government right now," says Mitchell. "But obviously the protection of our forces and the ability to achieve our mission is also extraordinarily important, so we need to balance the cost with the urgent requirements on the ground."

WASHINGTON — The U.S. is paying six times as much to send war supplies to troops in Afghanistan through alternate routes after Pakistan’s punitive decision in November to close border crossings to NATO convoys, the Associated Press has learned.
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Pentagon figures provided to the AP show it is now costing about $104 million per month to send the supplies through a longer northern route. That is $87 million more per month than when the cargo moved through Pakistan.
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Over the past year or so, the U.S. military has been shrinking its reliance on the Pakistani routes, which are used to transport fuel and other non-lethal supplies. U.S. officials say they could manage indefinitely without that access if Pakistan either makes the closure permanent or offers to reopen it under unacceptable conditions.


2012-05-27

History Rhymes






Nayirah Testimony refers to the controversial testimony given before the non-governmental Congressional Human Rights Caucus on October 10, 1990, by a female who provided only her first name, Nayirah. In her emotional testimony, Nayirah stated that after the Iraqi invasion of Kuwait she had witnessed Iraqi soldiers take babies out of incubators in a Kuwaiti hospital, take the incubators, and leave the babies to die. Though reporters did not then have access to Kuwait, her testimony was regarded as credible at the time and was widely publicized. It was cited numerous times by United States senators and the president in their rationale to back Kuwait in the Gulf War.

In 1992, it was revealed that Nayirah's last name was al-Ṣabaḥ (Arabic: نيره الصباح‎) and that she was the daughter of Saud bin Nasir Al-Sabah, the Kuwaiti ambassador to the United States. Furthermore, it was revealed that her testimony was organized as part of the Citizens for a Free Kuwait public relations campaign which was run by Hill & Knowlton for the Kuwaiti government. Following this, al-Sabah's testimony has largely come to be regarded as wartime propaganda.
http://en.wikipedia.org/wiki/Nayirah_(testimony)









A handout picture released by the Syrian opposition's Shaam News Network shows UN observers at a hospital morgue in the central Syrian town of Houla on Saturday.
Shaam News/AFP/Getty Images
A handout picture released by the Syrian opposition's Shaam News Network shows UN observers at a hospital morgue in the central Syrian town of Houla on Saturday.
It's hard to look at the images coming out of Syria today. They show the bloodied bodies of dozens of children strewn on the floors of morgues. Some of them are just babies, their gazes frozen, still wearing the outfits they had on when they were killed by government forces. In one image, there are so many dead children on a single rug, their limbs are overlapping. One of them is a little girl covered in blood. She's wearing a pink shirt dress with a yellow duckling.
As we've told you on this blog, the images from Syria are distributed by the opposition and taken by citizen journalists. But this time, we have confirmation from United Nations observers on the ground that this massacre in Houla did happen, yesterday.
According to the U.N., their observers visited the city today and counted bodies: More than 32 children under the age of 10 and 60 adults. Some of them killed during the shelling, but others, reports the BBC, were "summarily executed, or butchered" by a regime militia.
"This appalling and brutal crime involving indiscriminate and disproportionate use of force is a flagrant violation of international law and of the commitments of the Syrian Government to cease the use of heavy weapons in population centers and violence in all its forms," U.N. Secretary-General Ban Ki-moon said in a statement. "Those responsible for perpetrating this crime must be held to account."
The United States said it was "horrified" by the killings.
"These acts serve as a vile testament to an illegitimate regime that responds to peaceful political protest with unspeakable and inhuman brutality," said Erin Pelton, of the president's National Security Council.
NPR Reports Must Coincide with US Government Propaganda or Their Funding Will be Cu


The Syrian Arab News Agency (SANA) has said that ‘armed terrorist groups’ were responsible for the violence in Houla which reportedly killed 92 people.
Over the last few months many armed criminals have been arrested in Syria. Among these criminals there were 26 foreign Terrorists (many of the Al-Qaida members).
Reportedly, the terrorists are:
http://therearenosunglasses.wordpress.com/2012/05/27/who-is-responsible-for-houla-massacre/

2012-05-26

Bloomberg's Market Commentary




Go to this link, http://finviz.com/news.ashx , scroll down on the left to 5:22 am and you see this headline; Saudi Shares Advance on US Confidence, China Pledge.

Scroll up to 10:20 am and the headline reads, Saudi Shares Drop on Concerns About Europe, Oil prices.

Obviously contradictory tick by tick market commentary but the interesting part to me at least is the fact that if you click on the earlier link it no longer exists and you are redirected to the latter post.

Bloomberg never get's it wrong.

2012-05-20

G-8


The gathered leaders of the world's largest democracies. What could go wrong?

Jamie and Ben

The unit at the centre of JPMorgan Chase’s $2bn trading loss has built up positions totalling more than $100bn in asset-backed securities and structured products – the complex, risky bonds at the centre of the financial crisis in 2008.
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The unit, the chief investment office (CIO), has been the biggest buyer of European mortgage-backed bonds and other complex debt securities such as collateralised loan obligations in all markets for three years.
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J.P. Morgan, the nation’s largest financial firm by assets, is struggling to contain the damage, which already has shaved off more than $25 billion in shareholder value
Ritholtz


"We should say we want smaller institutions so that they can safely fail if they need to fail," he said, although he also called J.P. Morgan "a good player."
Bulltard


JPM is the US' largest investment bank. They are Too Big To Fail. $!00b in worthless, if they prove to be, asset-backed securities means nothing to the good doctor. He can monetize those losses at the speed of light.

2012-05-13

Down In Monterey




MONTERREY, Mexico — Forty-nine decapitated and mutilated bodies were found Sunday dumped on a highway connecting the northern Mexican metropolis of Monterrey to the U.S. border in what could be the latest outburst in an escalating war of terror among drug gangs.
Down In Monterey

2012-05-11

Terrorist Plot Foiled by Jetblue Airlines. Be Afraid America. Be Very Afraid


This beautiful 3 year old girl was thrown off a Jetblue flight in Fort Lauderdale due to her name being on a no fly list. Fear sells and further enriches the powered elites.
http://www.presstv.ir/detail/240720.html

2012-05-07

What a Dumb Fat Bastard

Pasok leader Evangelos Venizelos said there was no clear mandate for any single party. He called for a national unity government, comprised of all pro-EU parties, regardless of their position on the harsh fiscal adjustment programme.
Venizelos said that the electorate completely upset the political scene, and he attributed the electoral disaster to the fact that Pasok on its own had to manage the crisis all on its own.
“We embittered the people to protect the future of the nation. History will judge,” Venizelos said after the 9.30pm results. “Let the God of Greece help us!” he proclaimed, declaring that the party must be “reborn”.

2012-05-05

Nuevo Laredo

Nuevo Laredo (along with Laredo, Texas) is the most important trade border crossing of Latin America (approximately 8500 trucks cross the border each day).[4][5] Its geographical position has enabled this city to grow and specialize in the international trade business. Nuevo Laredo has a very developed logistics and transportation industry, complemented with a variety of hotel chains, restaurants and a cultural center where events such as the Tamaulipas International Festival take place.
Nuevo Laredo is located on the primary trade route connecting Canada, the United States and Mexico. Both Nuevo Laredo and Laredo, Texas are now the gateway to Mexico's burgeoning industrial complex, offering diverse markets, business opportunities and profit potential, which both business and industry cannot not find anywhere else.
http://en.wikipedia.org/wiki/Nuevo_Laredo



MEXICO CITY -- Another 23 bodies were discovered Friday in the embattled border city of Nuevo Laredo, including five men and four women hanging from a highway overpass, authorities said.
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Also Friday in Nuevo Laredo, 14 headless bodies were found in black garbage bags in a truck parked outside a government customs building, authorities said. The heads were later found in three ice chests near City Hall.
http://latimesblogs.latimes.com/world_now/2012/05/23-killed-mexican-border-city-decapitated-hanging-bridge-nuevo-laredo.html

2012-04-29

Just Another Day in the Sleepy Little Country South of the Border



The renowned journalist Regina Martinez, Process correspondent in Veracruz, was found dead, apparently strangled in her own home in Colonia Reforma, Xalapa. La PGJE ya abrió una investigación sobre los lamentables hechos de quien fuera una periodista crítica del gobierno y reportara durante años los violentos hechos relacionados con el narcotráfico en el estado. The PGJE has opened an investigation into the tragic events of a journalist who was critical of the government for years and will report the violent drug-related events in the state.









Hitmen in Sinaloa military attack ... could be 50 dead

At dawn today, Mexican military officials were surprised by unknown gunmen traveling in cloned units of the Ministry of Defence, Federal Police and the State Preventive Police.
Los militares fueron atacados por los sicarios en el municipio de Choix, Sinaloa, durante la madrugada de hoy sábado. The soldiers were attacked by gunmen in the town of Choix, Sinaloa, in the early hours of Saturday. Los sicarios se encontraban esperando a los soldados entre las localidades de San Simón y Potrero de Los Fierros. The gunmen were waiting for the soldiers between the towns of San Simon and Potrero de Los Fierros.
Mexico. Never realy been but I'd sure like to go.


2012-04-14

U.S. Secret Service Agents Banging Colombian Whores, Bombs and Obama


CARTAGENA, Colombia (AP) - Alleged misconduct by a dozen Secret Service agents sent to provide security for President Barack Obama in Colombia threatened to overshadow his diplomatic mission to Latin America.
On Friday night, a caller who said he had knowledge of the situation told The Associated Press that the misconduct involved prostitutes in Cartagena, site of the Summit of the Americas this weekend. A Secret Service spokesman did not dispute that.
The White House had no comment, but also did not dispute the allegations.
Colombian Chicks are Hot

CARTAGENA, Colombia (AP) - Colombian officials are reporting no injuries or damage from three small explosions as Western Hemisphere leaders arrived for a summit.
Two of the low-intensity blasts occurred in Cartagena where the summit is being held and one was close to the U.S. Embassy in Bogota.
http://apnews.myway.com/article/20120414/D9U4EA6O4.html

CARTAGENA, Colombia (AP) - Putting an election year spin on his international agenda, President Barack Obama on Friday cast Latin America's rapid rise as a business opportunity for the U.S. economy.
Secret Service Agents Banging Colombian Whores is Good for U.S. Economy Says Obama

2012-04-13

I Want to Stick My Tongue Down the Throat of Ex-FDIC Chairman Sheila Bair



"Best of all, it will mean that none of us have to work for a living anymore.
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Under my plan, each American household could borrow $10 million from the Fed at zero interest. The more conservative among us can take that money and buy 10-year Treasury bonds. At the current 2 percent annual interest rate, we can pocket a nice $200,000 a year to live on.
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Of course, we will have to persuade Congress to pass a law authorizing all this Fed lending, but that shouldn’t be hard. Congress is really good at spending money, so long as lawmakers don’t have to come up with a way to pay for it.
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[m]y proposal won’t cost taxpayers anything because the Fed is just going to print the money.
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Because we will be making money in basically the same way as hedge fund managers, we should have to pay only 15 percent in taxes, just like they do. And since we will be earning money through investments, not work, we won’t have to pay Social Security taxes or Medicare premiums. That means no more money will go into these programs, but so what? No one will need them anymore, with all the cash we’ll be raking in thanks to our cheap loans from the Fed.
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We can stop worrying about education, too. Who needs to understand the value of pi or the history of civilization when all you have to do to make a living is order up a few trades? Let the kids stay home with us. They can play video games while we pop bonbons and watch the soaps and talk shows. The liberals will love this plan because it reduces income inequality; the conservatives will love it because it promotes family time.
I’m really excited! This is the best American financial innovation since liar loans and pick-a-payment mortgages. I can’t wait to get my super PAC started to help candidates who support this important cause. I think I will call my proposal the “Get Rid of Employment and Education Directive.”
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That couldn’t happen here. This is America. Why should hedge funds and big financial institutions get all the goodies?
Look out 1 percent, here we come."
Sheila Bair is Hot

2012-03-25

Meet the New Boss. Same as the Old Boss

President Obama threw his support behind Yemen's Vice President just days before an election expected to enshrine him as the new leader of a country the US sees as crucial to the fight against al-Qaeda.
http://www.usatoday.com/news/world/story/2012-02-19/obama-supports-yemen-vice-president/53156486/1

BREAKING NEWS: YEMEN REVOLUTION Yemeni forces fire on protesters in Taizz; casualties reported
http://www.presstv.ir/

bin Laden's staed goal was to bring about the financial collapse of the US so they could no longer afford to prop up puppet governments or place their soldiers on Muslim land. One way he hoped to achieve this was by having as little as two men wave a flag, call themselves al-Qaeda and watch the US military industrial complex burn through billions of taxpayer dollars to attack these "terrorists."

What is never discussed in the US, by the government or in the extremely lame media is the fact that Yemen and Bahrain have a large Shia population. A sect of Islam that Saud royals use as a tool for uniting thier Wahabist's behind them as they do the biddings of Israel and the US in seeking to kill Shia's and forment hatred, to goad Iran into taking actions that can be twisted into offensive acts of terrorism

2012-03-19

Ten Heads All in a Row

Incredible this doesn't get covered by the US MSM,

Brutal Photo warning:
Ten Heads Left on Display
Scroll down for ten heads, won't link direct

Barofsky Cries Fraud