Archive for December, 2009

Chinese bilk Goldman out of derivatives booty

Thursday, December 31st, 2009

Full story here from ZeroHedge. Goldman getting screwed is the best Christmas gift ever!

“It appears that even after thoroughly dominating the US legislative, judicial and executive branches, the long tentacles of the squid have been no better than the Mongolian hordes at overcoming the Chinese Wall (which is ironic seeking how easy it is to ignore the same construct internally between the firm’s prop and flow traders…and yes, we will be posting our response to Goldman shortly, we have not forgotten). In the meantime, half a world away, a small Chinese power generator, Shenzhen Nanshan Power, is blatantly refusing to honor contracts with Goldman Subsidiary J. Aron for $80 million in derivative losses, and it appears that China itself has decided to stand behind the small company.

Reuters reports:
Shenzhen Nanshan Power (000037.SZ) (200037.SZ) said in a statement that it received several notices from J. Aron & Company, a trading subsidiary of Goldman Sachs (GS.N), for at least $79.96 million as compensation for terminating oil option contracts.
“We will not accept the demand by J. Aron for all the losses and related interests,” said Nanshan, in line with the stance it took last December.
“We will try our best to negotiate with J. Aron and resolve the dispute peacefully…but the possibility of using a lawsuit can not be ruled out when talks fail,” it added.
“J. Aron told us in one notice that if we do not pay the money, they will reserve the right to launch a lawsuit and will not send us any further notice.”
The State Assets Supervision and Administration Commission said in September that it would back state-owned companies in any legal action against the foreign banks that sold them oil derivatives, which resulted in losses when oil prices dived late last year. [ID:nPEK14474]
A Beijing-based Goldman Sachs corporate communication official declined to comment.
Not sure what Hank Paulson’s former firm would comment: alas the Chinese communist party still has to be filled with Goldman alumni. That being said, this is precisely the track that Goldman has been focusing on for the past few years. At this point, the firm realizes all too well that dominating power politics in China in the near futures is far more critical than complete control over D.C., as there is little the world’s most important company can do domestically in the context of taxpayer capital transfer without a full fledged revolution.

It appears that even after thoroughly dominating the US legislative, judicial and executive branches, the long tentacles of the squid have been no better than the Mongolian hordes at overcoming the Chinese Wall (which is ironic seeking how easy it is to ignore the same construct internally between the firm’s prop and flow traders…and yes, we will be posting our response to Goldman shortly, we have not forgotten). In the meantime, half a world away, a small Chinese power generator, Shenzhen Nanshan Power, is blatantly refusing to honor contracts with Goldman Subsidiary J. Aron for $80 million in derivative losses, and it appears that China itself has decided to stand behind the small company. (more…)

GATA sues Fed to disclose gold market interventions

Wednesday, December 30th, 2009

Full story here.

“GATA today brought suit against the U.S. Federal Reserve Board, seeking a court order for disclosure of the central bank’s records of its surreptitious market intervention to suppress the monetary metal’s price. (more…)

Fed monetizing via proxies (among other things)

Tuesday, December 29th, 2009

Full story here from Project Mayhem via ZeroHedge.

Evidence the Federal Reserve is monetizing treasuries by proxy emerges

(more…)

Money saboteurs = Economic terrorists

Monday, December 28th, 2009

Full story here from Christopher Story. This is definitely not your mainstream media. It’s very long, go to the link to see everything.

“…POLICY CHANGE AT THE U.S. DEPARTMENT OF JUSTICE:
ALL U.S. FINANCIAL SUBVERSIVES NOW TREATED AS ECONOMIC TERRORISTS
We can now reveal, on the basis of impeccable authority divulged to us on 26th December 2009 from ‘inside the US structures’, that the US Department of Justice within the Executive Branch has implemented a fundamental POLICY CHANGE and has determined, within the past three weeks or less, and against the background of the calamity surrounding the Lien in the immense sum of $47 trillion activated on about 6th December and imposed by the sovereign Lien Holders – the Chinese parties and the British Monarchical Power – as follows:

ALL individuals and entities within the United States’ jurisdiction that have participated in the stealing, diversion and conversion of funds belonging to others, INCLUDING past and present officials. both elected and appointed, within the US Government and its structures, WILL BE INVESTIGATED AND PROSECUTED FOR ECONOMIC TERRORISM perpetrated against the United States and the American people (and the Rest of the World). Specifically: (more…)

China says US Too Big To Fail, offers bailout

Monday, December 28th, 2009

This is a joke, but only just.

During the recent meeting with President Obama, Chinese Premier Wen Jiabao minced no words when he stated that “immediate action is necessary to keep a once prosperous nation” from falling flat on its face.

“If the U.S.economy collapses, so will China because we are so heavily invested in your country,” said Wen Jiabao. “We thought we were investing in a nation of the world’s greatest entrepreneurs, but a recent analysis shows that America has become little more than a home to overpaid union workers, whiney media, and spoiled welfare recipients. Our fears were confirmed last year when Americans elected you, Mr. Obama, as their president. But, to use one of your own expressions, America is too big to fail and so we will have to bail you out. This is no longer your decision. As your biggest creditor, we will now decide how to get the best return on our investment. You got elected on a vague promise of change; now we’re giving you the specifics.” (more…)

Health care cost cutting–off with the high technology!

Sunday, December 27th, 2009

Full story here.

One of the leading elements of Emanuel’s death program is a campaign against the broad use of life-saving medical technology, ranging from MRIs to dialysis. Emanuel claims that saving the lives of patients who need these technologies are not worth the money. Read his own words, in a Nov. 23, 2008 article on what drives up health care costs (Naturally, he ignores the 30% overhead costs of the private HMOs):
“Most of the relentless rise can be attributed to the expansion of hospitals and other health-care sectors and the rapid adoption of expensive new technologies new drugs, devices, tests and procedures. Unfortunately, only a fraction of all that new stuff offers dramatically better outcomes. If we’re worried about costs, we have to ask whether a $55,000 drug that prolongs the lives of lung cancer patients for an average of a few weeks is really worth it.”
How serious Emanuel is about his campaign against medical technology is shown in the provisions of the Obama-administration-blessed Senate Health Care bill, which calls for anywhere between a 20 to 40 billion dollar tax on companies producing medical devices. This tax will not only cut back on employment (an estimated 18,500 direct jobs, and 75,000 indirect jobs in Indiana alone), but will also adversely affect the ability of companies which produce everything from prosthetic devices, to stents and imaging machines, to continue to invent new, more helpful products.
The medical device tax, of course, goes right along with the other major Hitlerian feature of the Obamacare bill—the establishment of a powerful independent Medicare Board to decide on what procedures Medicare will pay for. Such a Board would enforce with the power of the purse, the measures the whole health bill promotes—cutting back on high-technology care and medical facilities.

One of the leading elements of Emanuel’s death program is a campaign against the broad use of life-saving medical technology, ranging from MRIs to dialysis. Emanuel claims that saving the lives of patients who need these technologies are not worth the money. Read his own words, in a Nov. 23, 2008 article on what drives up health care costs (Naturally, he ignores the 30% overhead costs of the private HMOs):

“Most of the relentless rise can be attributed to the expansion of hospitals and other health-care sectors and the rapid adoption of expensive new technologies new drugs, devices, tests and procedures. Unfortunately, only a fraction of all that new stuff offers dramatically better outcomes. If we’re worried about costs, we have to ask whether a $55,000 drug that prolongs the lives of lung cancer patients for an average of a few weeks is really worth it.”

How serious Emanuel is about his campaign against medical technology is shown in the provisions of the Obama-administration-blessed Senate Health Care bill, which calls for anywhere between a 20 to 40 billion dollar tax on companies producing medical devices. This tax will not only cut back on employment (an estimated 18,500 direct jobs, and 75,000 indirect jobs in Indiana alone), but will also adversely affect the ability of companies which produce everything from prosthetic devices, to stents and imaging machines, to continue to invent new, more helpful products.

The medical device tax, of course, goes right along with the other major Hitlerian feature of the Obamacare bill—the establishment of a powerful independent Medicare Board to decide on what procedures Medicare will pay for. Such a Board would enforce with the power of the purse, the measures the whole health bill promotes—cutting back on high-technology care and medical facilities.

Dead files for 21-27 December 2009

Friday, December 25th, 2009

Even the Pope can’t get love at Christmas…

Dec 26th:

Ain’t no insanity defense in China (maybe we should send Congress there)… http://news.bbc.co.uk/2/hi/uk_news/8431750.stm

Akmal Shaikh, 53, from London, is due to be executed on 29 December after he was convicted of smuggling heroin…Mr Shaikh’s supporters say he is mentally ill and Gordon Brown has asked Chinese authorities for clemency…The Briton has denied all knowledge of the 4kg of heroin found in his possession. His family say he has bipolar disorder and was duped by a criminal gang into unwittingly carrying drugs for them.

[I just have to ask: if the guy's really this sick, why on earth did his family let him go by himself to China? And do you think that gangsters would trust a loon with 4kg of heroin to deliver?]

Dec 26th: http://www.presstv.ir/detail.aspx?id=114663&sectionid=351020202

Israel’s ambassadors and consuls generals from all over the world have been summoned to attend a conference to be held over global challenges facing Israel.

The meeting to be attended in Jerusalem Al-Quds on December 27-31 is hosted by the Ministry of Foreign Affairs, headed by Deputy Prime Minister and Foreign Minister Avigdor Lieberman, the ministry reported on its website.

This is the first time a conference for all of Israel’s heads of missions has been held.

[Don't they make conference calls for this kind of stuff?]

Dec 25th:

http://www.cnn.com/2009/CRIME/12/26/airliner.attack.suspect/index.html

The man charged with attempting to destroy a U.S. airliner on Friday is the son of prominent Nigerian banker and had been a college student in Britain before moving to Dubai, according to family and official sources.
…His father, Alhaji Umar Mutallab, recently retired as chairman of First Bank PLC, one of the Nigeria’s premier banks, said the source, who lives at the family home in Kaduna, Nigeria.
[insert your own banker = terrorist joke here]
Further data gathered on 12/26 stated that the father had contacted US embassy in November in regards to his son’s alleged ties to radicals. I have no more faith in this gov’t or dipshit airport screeners. Not only does all bomb/chemical detection tracing fail, his father fricking phones it in A MONTH AGO to say this kid was dangerous. The UK was smart enough to not let this guy in!

12/28 more data here: http://original.antiwar.com/justin/2009/12/27/the-lap-bomber-mystery/

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Dec 25th:

http://news.yahoo.com/s/ap/20091225/ap_on_re_eu/world_christmas;_ylt=AibyaEA6×2wfWyRi9S3BE.ms0NUE;_ylu=X3oDMTNmZ2gwdXZoBGFzc2V0A2FwLzIwMDkxMjI1L3dvcmxkX2NocmlzdG1hcwRjY29kZQNtb3N0cG9wdWxhcgRjcG9zAzEEcG9zAzIEcHQDaG9tZV9jb2tlBHNlYwN5bl90b3Bfc3RvcnkEc2xrA3ZhdGljYW50b3Jldg–

The Vatican will review its security procedures after a woman jumped a barrier and rushed at Pope Benedict XVI for the second time in two years, managing to knock him down before being pulled away by security, the Vatican spokesman said Friday.

The incident in St. Peter’s Basilica raised fresh questions about security for the pontiff, however, after officials said the woman involved had jumped the barrier at the 2008 Midnight Mass in a failed bid to get to the pope. She even wore the same red-hooded sweat shirt.

Italian officials also remarked on the odd similarity of the breach to an assault two weeks ago on Premier Silvio Berlusconi by a man with a history of psychological problems.

[My 2 cents: psychos don't just magically appear. These attacks usually end up being orchestrated by a government or spy agency, foreign or domestic. Two attacks in Italy in 2 weeks--what have they failed to agree or do, and who is on the other end of this?]

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Dec 24th:

Odd that the incident reportedly occurred on Dec. 18, but did not make the news until Dec. 24th. We tend to think of ourselves as reasonably well-informed, yet someone was able to keep this out of the news for some six days?

Some reports say Madoff was assaulted, and other reports say he fell out of bed. Which is correct?

http://www.bloomberg.com/apps/news?pid=20601087&sid=aBPw2O_1rS7s&pos=9

Madoff May Have Been Assaulted in Prison, ABC News Says
By Bill Koenig

Dec. 24 (Bloomberg) — Bernie Madoff went to Duke University Hospital on Dec. 18 with injuries consistent with an assault, ABC News reported, citing the network’s WTVD affiliate in North Carolina.

Madoff had facial fractures, broken ribs and a collapsed lung, the ABC affiliate said, citing people familiar with the situation it didn’t identify.

(snip) —–

Below is a Dec. 24 story to which AP contributed, so just the link and an altered title:

Madoff Injured After Falling Out of Bed, Says Source
http://abclocal.go.com/wtvd/story?section=news/local&id=7187293

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EU/IMF revolt: Greece, Iceland, Latvia may lead the way

Thursday, December 24th, 2009

Full story here. The day these countries realize they have the power over the EU (and not the other way around) will be a breathe of life into the sick twins known as Peace and Prosperity.

Europe’s small, debt-strapped countries could follow the lead of Argentina and simply walk away from their debts. That would shift the burden to the creditor countries, which could solve the problem merely by a change in accounting rules.

Total financial collapse, once a problem only for developing countries, has now come to Europe. The International Monetary Fund is imposing its “austerity measures” on the outer circle of the European Union, with Greece, Iceland and Latvia the hardest hit. But these are not your ordinary third world debtor supplicants. Historically, the Vikings of Iceland successfully invaded Britain; Latvia  n tribes repulsed the Vikings; and the Greeks conquered the whole Persian empire. If anyone can stand up to the IMF, these stalwart European warriors can. (more…)

Climate change shenanigans

Sunday, December 20th, 2009

The head of the UN’s climate change panel – Dr Rajendra Pachauri – is accused of making a fortune from his links with ‘carbon trading’ companies, Christopher Booker and Richard North write:

http://www.telegraph.co.uk/news/6847227/Questions-over-business-deals-of-UN-climate-change-guru-Dr-Rajendra-Pachauri.html

No one in the world exercised more influence on the events leading up to the Copenhagen conference on global warming than Dr Rajendra Pachauri, chairman of the UN’s Intergovernmental Panel on Climate Change (IPCC) and mastermind of its latest report in 2007.

Although Dr Pachauri is often presented as a scientist (he was even once described by the BBC as “the world’s top climate scientist”), as a former railway engineer with a PhD in economics he has no qualifications in climate science at all. (more…)

The dark side of Dubai

Thursday, December 17th, 2009

Full story here. This came out before the STHF in Dubai.

“The wide, smiling face of Sheikh Mohammed – the absolute ruler of Dubai – beams down on his creation. His image is displayed on every other building, sandwiched between the more familiar corporate rictuses of Ronald McDonald and Colonel Sanders. This man has sold Dubai to the world as the city of One Thousand and One Arabian Lights, a Shangri-La in the Middle East insulated from the dust-storms blasting across the region. He dominates the Manhattan-manqué skyline, beaming out from row after row of glass pyramids and hotels smelted into the shape of piles of golden coins. And there he stands on the tallest building in the world – a skinny spike, jabbing farther into the sky than any other human construction in history. (more…)