• BullionStar
    05/30/2016 - 21:24
    The US Gold Market is best known as the home of gold futures trading on the COMEX in New York. The COMEX has a literal monopoly on gold futures trading volumes worldwide, but very little physical...

Good morning, worker drones: This Week In Mayhem

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Wed, 12/09/2009 - 08:42 | 157678 Anonymous
Anonymous's picture

From one of Canada's two National newspapers i.e. the mains stream media and their

"The real inconvenient truth
The whole world needs to adopt China's one-child policy
by Dianne Francis*

The "inconvenient truth" overhanging the UN's Copenhagen conference is not that the climate is warming or cooling, but that humans are overpopulating the world...

For those who balk at the notion that governments should control family sizes, just wait until the growing human population turns twice as much pastureland into desert as is now the case, or when the Amazon is gone, the elephants disappear for good and wars erupt over water, scarce resources and spatial needs..."


* http://www.dianefrancis.com/bio.php

Tue, 12/08/2009 - 14:09 | 156691 Jestocost
Jestocost's picture

Project Mayhem:

Having difficulty signing up for the Project.

Confirmation email keeps getting kicked back.  "Probelm with my address"???

I have disabled pop-up protector and still no luck.





Tue, 12/08/2009 - 12:42 | 156603 JR
JR's picture

Surging Into Disaster by Eric Margolis | December 8, 2009


The ugly, messy conflict Obama inherited from George W. Bush now fully belongs to the "peace president" and his unhappy party.

President Obama faced a choice between guns – $1 trillion for the next decade of warfare in Afghanistan – or butter – his $1 trillion national health plan.

The Nobel Peace Prize Laureate chose guns…

…There is also concern that when Obama targets al-Qaida, his real target may be Pakistan. Pakistanis sourly joke that the US long ago killed Osama bin Laden and is keeping his spectral image alive to justify occupying Afghanistan.

…Most Pakistanis support Taliban, see US occupation of Afghanistan as driven by lust for oil and gas, and increasingly fear the US intends to tear their unstable nation apart in order to seize its nuclear arsenal.  

…A grimmer view is that Obama has fallen under the influence of conservative military-financial interests, and Washington’s rabid neocons who seek permanent war against the Muslim world.

Eric Margolis is contributing foreign editor for Sun National Media Canada. He is the author of War at the Top of the World and the new book, American Raj: Liberation or Domination?: Resolving the Conflict Between the West and the Muslim World. See his website.


Tue, 12/08/2009 - 11:19 | 156501 AN0NYM0US
AN0NYM0US's picture

leaked draft of  Copenhagen agreement


Tue, 12/08/2009 - 09:52 | 156395 Invisible Hand
Invisible Hand's picture

On the recurring theme of tungsten bars--any brilliant radiation physicist (of which group I humbly am a member) could design a non-invasive, non-destructive, analyzer that could identify gold-plated tungsten bars costing low $10K dollars.  We could even automate with a small conveyor belt so it could be as simple as running your laptop through airport security (I know, not a pleasant experience but very quick).

If this really is a concern for anyone who handles gold bars, post a reply and I will contact you.  I even have an friend that can build the device for you if you like.  Any repository of gold that doesn't have one of these devices (assuming that substituting tungsten bars for gold is as simple as everyone seems to think--I admit I haven't really researched if that is possible, but I assume it is) is negligent in the extreme.

Tue, 12/08/2009 - 14:44 | 156748 Hephasteus
Hephasteus's picture

If you mean complicent then yes they are negligent.

Tue, 12/08/2009 - 05:39 | 156304 Hephasteus
Hephasteus's picture

Google regularly crawls every website as well as Microsofts web bots.

Tue, 12/08/2009 - 01:44 | 156230 Oso
Oso's picture




Bank of Korea Sees ‘Illusion’ in Gold, No Cash Return (Update1)

By Kim Kyoungwha

Dec. 8 (Bloomberg) -- The Bank of Korea, diversifying foreign-exchange reserves away from a falling dollar, said that additional gold holdings aren’t attractive as most other central banks aren’t buying and the metal offers no cash returns.

“There’s an illusion in gold,” Lee Eung Baek, head of the bank’s reserve-management department, said in an interview. “We follow the big trend. Gold isn’t the trend. Out of more than 200 nations, how many countries have bought bullion?”

Gold surged to a record this month after central banks including India added more of the metal to reserves, while funds and individuals boosted purchases to protect their wealth against the weaker dollar and potential increase in inflation.

“Holding gold as part of reserves makes sense in terms of diversification, but I don’t think many central banks want to balloon their holdings with it,” said Jerry Yoshikoshi, a senior economist with Sumitomo Mitsui Banking Corp.

Gold for immediate delivery, on course for a ninth annual gain, touched an all-time high of $1,226.56 an ounce on Dec. 3, and has gained 32 percent this year as the dollar has dropped 6.9 percent against a basket of six currencies. The metal traded at $1,161.90 an ounce at 10:43 a.m. in Singapore.

South Korea’s reserves -- the world’s sixth-largest after China, Japan, Russia, Taiwan and India -- rose to a record $270.9 billion in November as the central bank intervened in the foreign-exchange market. Central banks intervene by arranging purchases or sales of foreign exchange.

‘No Cash Returns’

“Like other central banks, we have been increasing the types of currencies consisting of the reserves outside the dollar,” Lee said yesterday by phone, without identifying the currencies. Gold “offers little value,” with “no cash returns,” he said.

The Asian nation holds 14.4 metric tons of gold, equivalent to 0.03 percent of total reserves, according to figures from the Bank of Korea. That compares with the average of 10.2 percent held by central banks worldwide, according to data from INTL Commodities DMCC in October.

The dollar has weakened this year as the Federal Reserve kept benchmark interest rates near zero percent since December 2008 to revive lending after the worst financial crisis since World War II. Record U.S. government borrowing has also driven investor concern that the currency may be debased.

‘Slim Chance’

“Since India and Russia with large reserves bought gold, there’s speculation that Korea might buy it too,” Lee said. “But we are not classified in the same category. There’s a slim chance that we will buy gold” from the IMF, he said.

Since the end of September, India, Mauritius and Sri Lanka bought more than half of the 403.3 tons of gold that the International Monetary Fund plans to sell to bolster its balance sheet. Bank Rossii, Russia’s central bank, also increased its gold holdings by 2.6 percent in October.

“The volatility on gold is too big,” Lee said. “And once gold is purchased, it’s just kept in a safe and is not put up for sale even if prices rise.”

Many central banks “remember bullion’s ultra-bearish trend in the nineties,” Sumitomo Mitsui’s Yoshikoshi said. Gold tumbled as low as $251.95 an ounce during the decade, in August 1999. “The recent rally is, for me, too much in an environment where aggravated inflation is hardly expected in the coming years,” he said.

South Korea has reduced its holdings of Treasuries to $38.8 billion at the end of September from as high as $72.8 billion in February 2006, according to U.S. Department of Treasury data. This year, its holdings climbed $7.5 billion as the nation’s reserves increased.

Tue, 12/08/2009 - 00:16 | 156185 Apocalypse Now
Apocalypse Now's picture

PM - Another item is Columbia/Venezuela, Russia just supplied missiles to Venezuela



Tue, 12/08/2009 - 01:59 | 156192 heatbarrier
heatbarrier's picture

Second Kurtz' suggestion on Venezuela-Colombia, PM. Venezuela CDS are flagging trouble,


My nightmare scenario is an Israeli attack on Iran with a simultaneous attack on Venezuela, part of the "Iran-Venezuela Axis". Persian Gulf would be blocked by Iran, US and Colombia proxy seize Venezuela oil fields, Mexico and Brazil may also be destabilized.  Justification: a  (9/11)**2 event.

The Emerging Axis of Iran and Venezuela -WSJ

The prospect of Iranian missiles in South America should not be dismissed.

According to a report published by the Carnegie Endowment for International Peace in December of last year, Venezuela has an estimated 50,000 tons of unmined uranium. There is speculation in the Carnegie report that Venezuela could be mining uranium for Iran.

My office has been told that that over the past three years a number of Iranian-owned and controlled factories have sprung up in remote and undeveloped parts of Venezuela—ideal locations for the illicit production of weapons.

That means two of the world's most dangerous regimes, the self-described "axis of unity," will be acting together in our backyard on the development of nuclear and missile technology. And it seems that terrorist groups have found the perfect operating ground for training and planning, and financing their activities through narco-trafficking.

The Iranian nuclear and long-range missile threats, and creeping Iranian influence in the Western Hemisphere, cannot be overlooked. My office and other law-enforcement agencies can help ensure that money laundering, terror financing, and sanctions violations are not ignored, and that criminals and the banks that aid Iran will be discovered and prosecuted. But U.S. law enforcement alone is not enough to counter the threat.


US Fourth Fleet reestablished,




Mon, 12/07/2009 - 23:27 | 156140 Jim in MN
Jim in MN's picture

More tidbits--Asia Times has stated that the Predator drone campaign has been approved to move into Balochistan.  No idea how correct this is but a significant and dangerous escalation if true. 


Do you think the drones may start getting hit there?  Or just a lot of serious blowback in other areas?  The Balochis have a whole different mindset and better arms suppliers than the gangs in the 'Tribal Areas'. 

 Edit: NY Times story just ran too, saying we're still engaging in brinksmanship on this:


Mon, 12/07/2009 - 19:48 | 155972 anynonmous
anynonmous's picture

hey Mayhem


Peter Sullivan from Resolute Mining (Gold) just now 6:38pm Dec 7, 2009 New York time on Bloomberg TV Asia

Bernie Lo from Bloomberg Asia (ASIA MORNING CALL) questions Peter Sullivan on Tungsten (fake Gold) in Africa

(note Bernie Lo was not suggesting or implying that Resolute was involved but he just wanted an expert position)

Sullivan's response was, how shall I say ...awkward.  His eyes started blinking rapidly  and he mumbled something  (but then I don't know Sullivan)

Unfortunately Bloomberg usually does not include this program in its clips

Mon, 12/07/2009 - 20:32 | 156007 Project Mayhem
Project Mayhem's picture



Great find!  Maybe Kirby is right about the tungsten bars.   There are definitely alot of strange happenings in the gold market, with US mint shutting down, the scandal in Canada, etc.


Mon, 12/07/2009 - 21:09 | 156044 anynonmous
anynonmous's picture






"I don't know about it on any large scale"

Tue, 12/08/2009 - 00:11 | 156181 MsCreant
MsCreant's picture

Not specifically tungsten paydirt though.

Mon, 12/07/2009 - 18:54 | 155906 Cistercian
Cistercian's picture

 I was wondering when cryptome would get mentioned here.Don't explore the matrix without it!Good work PM.I really like the weekly mayhem features...most excellent work.

Mon, 12/07/2009 - 18:46 | 155891 Anonymous
Anonymous's picture

come on mayheim. we have enough "think tanks" in the dc area, thank you very much....:)

Mon, 12/07/2009 - 20:38 | 156016 Project Mayhem
Project Mayhem's picture

They actually put up American Enterprise Institute think tank dorms across the street from my old house, lol


Mon, 12/07/2009 - 18:13 | 155855 AnonymousMonetarist
AnonymousMonetarist's picture


Discrepancy between taxes collected and 'tax-paying' jobs is showing the glitch in the Matrix.

I've got red pills, waiting for the lady in red.


Mon, 12/07/2009 - 18:50 | 155898 Project Mayhem
Project Mayhem's picture


Mon, 12/07/2009 - 17:58 | 155845 Anonymous
Anonymous's picture

Last week rocked this week cocks.

You even used some of the same stuff from last week. weak.

Mon, 12/07/2009 - 17:45 | 155827 Gunther
Gunther's picture

To gold:

How often have we seen similar moves downward and a while later the POG was up?

I lost count. That is typical bull market action.


The next attac on warming, hat tip hartgeld.com:

Lord Christopher Monckton Speaking in St. Paul


Mon, 12/07/2009 - 17:25 | 155804 anynonmous
anynonmous's picture

Google's Schmidt on privacy

Google CEO: Secrets Are for Filthy People

"Eric Schmidt suggests you alter your scandalous behavior before you complain about his company invading your privacy. That's what the Google CEO told Maria Bartiromo during CNBC's big Google special last night, an extraordinary pronouncement for such a secretive guy.


The generous explanation for Schmidt's statement is that he's revolutionized his thinking since 2005, ..."


Mon, 12/07/2009 - 13:26 | 155401 Gordon_Gekko
Gordon_Gekko's picture

Is that an opium poppy field that is being guarded by the US marine? Who knew the US Government was involved in the drug trafficking business? (hurry! act surprised everyone! ROTFL).

Tue, 12/08/2009 - 02:36 | 156252 delacroix
delacroix's picture

we wouldnt want to disrupt free trade in afganistan, they might find that offensive

Mon, 12/07/2009 - 18:09 | 155854 Anonymous
Anonymous's picture

As usual you open your mouth without knowing of what you speak of. It is obvious from the helmet, it is not an American soldier.

Tue, 12/08/2009 - 00:08 | 156179 Mad Max
Mad Max's picture

The helmet and camo look like UK.

Tue, 12/08/2009 - 06:54 | 156315 Gordon_Gekko
Gordon_Gekko's picture

Is there ANY difference between the two countries? They are practically the same goddamn nation.

Mon, 12/07/2009 - 20:33 | 156011 Project Mayhem
Project Mayhem's picture

Well if he's not an American he's part of ISAF right?   That' s basically NATO + a couple of extra countries.

Mon, 12/07/2009 - 15:03 | 155583 dark pools of soros
dark pools of soros's picture

and the Taliban was terrible how??


oh thats right they stopped the crops for 4 years

Mon, 12/07/2009 - 16:32 | 155732 Mr Shush
Mr Shush's picture

That and their unimpeachable women's rights record. And gay rights record. And stellar handling of the economy. And commitment to free speech and representation of the will of the majority. Yeah, those guys were great.

Mon, 12/07/2009 - 22:40 | 156106 Anonymous
Anonymous's picture

Kind of like our "good" ally, Saudi Arabia....yeah, let's
Bomb them too? (Only bomb the guys who aren't
with our program)

Mon, 12/07/2009 - 17:37 | 155819 WaterWings
WaterWings's picture

The humanitarian US of A realizes that even if 49% of the local population is lost due to freedom fighting it is still a victory. We must save the Afghan women from the Afghan men.

"We Kill for Peace."


Excellent documentary: Afghanistan's Opium Trail:


Mon, 12/07/2009 - 17:02 | 155771 gmrpeabody
gmrpeabody's picture


Mon, 12/07/2009 - 17:01 | 155769 Gordon_Gekko
Gordon_Gekko's picture

Well, it's not like the US Govt. is any better.

Mon, 12/07/2009 - 17:03 | 155772 gmrpeabody
gmrpeabody's picture


Mon, 12/07/2009 - 13:11 | 155373 Andrei Vyshinsky
Andrei Vyshinsky's picture

Your analysis of the objectives of the Afghanistan/Pakistan aggression overlooks one of the more obvious: Making the world safe for Israel. You should add AIPAC to the list of lobbies you rightly indict for this outrage. If you aren't aware of it already, here's a link to a paper making the connection for you:


What possible hope is there now to avoid war with Iran, surrounded as it now is on all side by the divisions of this latter day Wehrmacht? The torrent of abuse to which these people have been subjected, particularly since the Bush Regime, makes Hitler's abuse of Poland immediately preceeding the onset of hostilities in 1939 look tame by comparison.

Mon, 12/07/2009 - 14:32 | 155521 Project Mayhem
Project Mayhem's picture

I'm not overlooking anything.  I agree -- Isreal associated hawks such as Netanyahu want a strike on Iran.  If there is war in Pakistan, there is war in Iran.  The two will go together.  


Yes I understand Isreal policy planners are way infiltrated into the government etc etc that much is well known here in DC.  There is a spying scandal involving Isreal every other week, more or less.  Look at who does all the US survellience such as Amdocs and Comverse Infosys.  Isreali intelligence runs the phone systems, CALEA , tap and trace etc etc.  Old news.


In the sense that we are making 'the world safe for Isreal' I disagree.  The Isreali policy elites (as well as US elites) WANT war, the people do not.   The leaders of various nations, regardless of religion or creed,  trick their people into war.   Same shit the past 5000 years!



Mon, 12/07/2009 - 13:33 | 155413 crzyhun
crzyhun's picture

Phlogem. -10

Mon, 12/07/2009 - 13:08 | 155366 Dr Horace Manure
Dr Horace Manure's picture

"hallucinated carbon-debt units".  Priceless.

I'm getting the education of a lifetime here at ZH, and it's all free.

Btw, I rented "Fight Club" over the weekend and watched all 139 minutes of it.

Somebody here at ZH owes me $2.15 and 139 minutes.  Can I collect from you PM :)) 

Mon, 12/07/2009 - 13:44 | 155430 Anonymous
Anonymous's picture

Now watch "Snatch", another great movie. :-)

Mon, 12/07/2009 - 13:14 | 155378 Anonymous
Anonymous's picture

The tea leaves say you will find a bag containing 2.3 million dollars in unmarked bills in it in the street. Either that or you'll be gang raped by a dozen filthy bikers.

They're ambiguous like that.

Mon, 12/07/2009 - 13:05 | 155357 Anonymous
Mon, 12/07/2009 - 12:51 | 155328 Gordon_Gekko
Gordon_Gekko's picture


Mon, 12/07/2009 - 17:01 | 155768 Hephasteus
Hephasteus's picture

For fun a couple years ago. i used to completely block the entire nakatomi network. Just to fuck up yahoo. Then I'd get flooded with various packets from fake colleges and universities and then finally the Department Of Defense would come knocking. Haha. Unversity of California, Presidents Office my ass. ROFLMAO

Mon, 12/07/2009 - 14:15 | 155490 anynonmous
anynonmous's picture

GG - Google, Yahoo, Bing (Microsoft) are one and the same - they track your IP; they store in perpetuity your searches; if you subscribe to one of their services such as the Google Tool Bar the tracking is that much more granular; if you are logged on to your Yahoo, Google or Microsoft account whilst you are conducting searches (unless you opted out) every single search is stored under the name of your account going back years and years; they have all caved to foreign governments vis a vis censorship; etc.

Make no mistake that there will come a time in America when for reasons of "public safety or security" your records will made available to the 'authorities'.  One challenge is your ISP who also has records of the sites you visit and the 'authorities' subpoenaing the ISP - that's tough to get around even using proxy servers.


Even our friends at ZH, if you read the T&C, will in certain and rare cases hand over your info (which begs the question why would ZH store that info?)



always clear your history, cookies etc

beware of super cookies that are attached to Flash player that need a special progam to delete (if you are using FireFox load Better Privacy - you will be shocked at what these super cookies have on you - again going back months and years)

Do not use Google Chrome,

Do not use Google, Yahoo etc Toolbars

Do not use Alexa

Never stay logged into your account whilst surfing the web

If you have a Google account - make sure that you opt out of something called Web History -

Ideally use http://www.StartPage.com as your search engine (they don't track your IP or compile your search history)

Try not to use a static IP

When posting on ZH or any other blog that requires registration  - don't use your regular email address - better still post "anynonmously"


of course if privacy matters are irrelevant to you please disregard all of the above


If you doubt anything I have said read the terms of use on Google etc - and read them carefully (with a lawyer).



Mon, 12/07/2009 - 17:40 | 155823 gatopeich
gatopeich's picture

Good points.

But I would add:

  • Use all that shit for the 99% of your online doings that are not really sensible.
  • Use secure services for the other 1%.

This way, you will contribute a lot of enthropy (useless information) to the surveillance databases; while keeping your privacy high for the thing you really want it high.

The funny thing is that the more information they accumulate, the harder to keep and dig. Similar to the devaluation of the dollar by action of the printing press.

Mon, 12/07/2009 - 21:54 | 156076 Mad Max
Mad Max's picture

It would also be great if someone had a little app that would generate random G to PG searches from your computer every 2-5 minutes.  Vastly increase the noise level.

Mon, 12/07/2009 - 15:00 | 155579 dark pools of soros
dark pools of soros's picture

or dont give a shit and drive over the speedlimit like everyone else and let luck play itself out

Mon, 12/07/2009 - 14:29 | 155519 Gordon_Gekko
Gordon_Gekko's picture

Yeah, I was talking more along the lines of, you know, let's make an example out of the POS - drive 'em to bankruptcy at least - so at least the other companies know that we won't take this kind of shit lying down.

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