Good morning, worker drones: This Week In Mayhem

Good morning, worker drones:  This Week In Mayhem

by Project Mayhem

Gold takes a hit to the chin, Nobel 'Peace Prize' winner Obama escalates in Afghanistan, doctored jobs report causes mayhem in sentient AI,  ECB to discuss Greece default,  Yahoo threatens Cryptome over leaked surveillance document.

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LAST WEEK IN MAYHEM

1) Gold takes a hit after breaching $1200

this sad little gold bug is no longer worth $1200

Some commentary from this morning's free email:

"We start this week in the gold market with significant overnight losses (from $1160 to $1140).  This is principally due to weakening in the Euro and Yen, and thus strength in the USD.  These Euro and Yen are critical currencies to watch.  The Euro is hypothetically partially backed by gold, while the Yen historically trades at a strong inverse correlation to the US stock indices.

Predicting short-term moves is a fools' game.  But one thing we know for sure is nothing goes anywhere in a straight line.  In terms of where we see gold, we expect to see continued short-term weakness , possibly retesting strong support at $1100.  If this does not hold, there is strong support between $1000-$1050 which we expect to be the floor due to buying in Hong Kong. ("the China put").  After retest of support levels, assuming they hold, we expect to see further gains.  We are issuing a price target of $1600 or higher by August 2010." -PMR

Gold hits $1200 in overnight trading - PM - 12/01

http://www.zerohedge.com/article/gold-hits-1200-overnight-trading

Guest Post: Why The Big Drop In Gold?

http://www.zerohedge.com/article/guest-post-why-big-drop-gold

2) Obama escalates in Afghanistan

In terms of the political implications of this event, it is obvious
we are witnessing an a serious and long-term escalation in Afghanistan
by yet another President obsessed by war and acting on behalf of banks
and defense contractors. But here, by 'Afghanistan', we implicitly mean
Pakistan, which must necessarily enter chaos in order to meet the
political objectives of Kissinger, Brzezinski, and others.  So when you hear Afghanistan, think Pakistan.

Pakistan
is now ravaged by CIA Predator drone attacks and in is on the brink of
civil war in the Pashtun regions.  But civil war appears this was
precisely the political objectives of those operating behind the scenes
in the Western political establishment -- to include the CFR and
Trilateral Commission.  We have known for some time that Brzezinski has
favored fracturing Afghanistan-Pakistan into a series of micro-states. 
There are four major political objectives here, which you will not hear
discussed outside of closed doors.

http://www.zerohedge.com/article/obama-escalates-afghanistan

3) Doctored jobs report sends T-2000 computer hivemind into a tailspin

On Friday, the pretext for surprise AM dollar strength against the Euro and Yen was the bogus jobs report, supposedly showing wonderful gains in the economy, and supposedly happy days are here again.  Nothing could be further from the truth.  U-6 unemployment remains at 17.2%, and non-seasonally adjusted unemployment has hit another all-time high at 16.4%.  These numbers are terrible.  We feel sorry for anyone believing the crap on CNN or CNBC.  Just another day in the matrix.  Regardless, the reality is this jobs report is just another nail in the coffin of the US taxpayer  Nothing will turn around in this economy for years, if not decades, especially with the looming situation in Alt-A and CRE in 2010-2012.

Non-'seasonal adjusted' unemployment is rising.

Unemployment Drops Amazingly To 10%, NFP Down 11.000 Much Higher Than Consensus, 17.2% U-6 Unemployment

http://www.zerohedge.com/article/unemployment-drops-amazingly-10-nfp-down-11000-much-higher-consensus-172-u-6-unemployment

4) ECB To Discuss Greece's budget deficit on Dec 17: Press

White sandy beaches and sovereign debt default

With the more or less sovereign default of Dubai, the possible bankruptcy of nation-states should be on everyone's radar again.  Especially in the context of the New World financial system currently being constructed under the auspices of the IMF and BIS with the Copenhagen summit, which begins today.  Regardless whether the future system is based on SDRs, regional currencies, hallucinated carbon-debt units, or some combination thereof, it will be vital to watch for further sovereign defaults.  Greece is an excellent candidate.  So is Ukraine.  Another candidate are the Baltic states. Others include all the Club Med states for that matter, such as Italy and Spain.  What does this portend for the Euro?  Hard to say.  Germany is carrying the Eurozone, as usual, so it will be up to the policy wonks at ECB, and by that we mean Germany.

'What would happen anyhow if Greece did not repay its debt?" the unidentified Bundesbank board member was quoted in the article as saying. "The euro is strong enough to support that."

Is it , anonymous Bundesbank member?  In the words of James Bond, 'Can you afford to take that chance?'

http://imarketnews.com/?q=node/5650

5) Yahoo Threatens Cryptome Over Leaked Surveillance Document with DMCA

Here at PMR we have enormous respect for a man named John Young, who runs the intelligence whistleblower site Cryptome.org.  Many great patriots have leaked information to John Young over the past decade which has helped increase our understanding of the world, through the last bastion of free speech known as the Internets.  We are greatful to Cryptome for providing approximately 50% of our war photographs (the other half are provided by Uruknet).  However, now Yahoo is using DMCA to threaten Cryptome.org for publishing details of how Yahoo spies on its customers.   Here's the scoop:

"Yahoo isn’t happy that a detailed menu of the spying services it provides law enforcement agencies has leaked onto the web.

Shortly after Threat Level reported this week that Yahoo had blocked the FOIA release
of its law enforcement and intelligence price list, someone provided a
copy of the company’s spying guide to the whistleblower site Cryptome."

"The 17 page guide describes Yahoo’s data retention policies and the surveillance capabilities it offers law enforcement. The guide reveals how Yahoo retains the IP addresses from users who login to its site for a year. Yahoo instant message logs are retained for 45 to 60 days and include an account holder’s friends list and the date and times the user communicated with them, according to Kim Zetter of Wired."

http://www.wired.com/threatlevel/2009/12/yahoo-spy-prices/

http://cryptome.org

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THIS WEEK IN MAYHEM

1) Calendar

Looks like Benny is going to run his mouth today.  Rejoice at our fearless leaders!  Japan PPI comes Wednesday .  Mish is sure to post something about deflation.  Jobless claims comes Thursday, and we will be watching this one carefully.  Gold will remain under the microscope, as usual.  And we will watch for war and rumors of war.

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by John / PM Research / Zerohedge / NYC

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Project Mayhem Research (PMR) is a DC/Baltimore-based grassroots think tank dedicated to exposing corruption worldwide. PMR is affiliated with Zerohedge.com, a popular and growing anti-corruption site, through contribution of free articles for the public. Topics include the politics of war and weapons systems, unexpected applications of cybernetics, the growing international surveillance state, global warming 'deindustrialization' economics, broad systemic international corruption , in-depth policy analysis of studies from bank and military funded research groups, genetic analysis and surveillance of pandemic influenza, corruption in the international gold market, the power structure and history of the global elite, and analysis of their political objectives expressed through monopolistic international finance capital (read: powerful banks) between now and 2050.

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Comments

[Mad Max]

Do you think Google and MSN are better?  Could you get normal use from the web without using any of their search engines?

[Apocalypse Now]

Use www.scroogle.org (make sure you use .org)

[Mad Max]

Looks like a great engine.  Mucho gracias.

[John Self]

I thought Google capitulates only to the Chinese government.

[Gordon_Gekko]

One at a time my friend, one at a time. I think it's easy to get rid of the crappiest so let's get rid of Yahoo first. In fact, while we're at it lets get rid of that piece of shit MSN as well. Both of them are mere annoyances as far as I am concerned. The only one I can't do without (right now anyways) is Google. We'll see.

[DoChenRollingBearing]

startpage.com is purported to be a more private way to search than Google.  Read that somewhere not long ago.  It seems a little slow.  I do not have any other details.

But, I use startpage when searching, well, exotic topics.

[A Man without Q...]

With regards Greece, I feel the Germans wish to draw a line in the sand.  There is a growing understanding of the nefarious tactics used by Greece to hit the Maastricht criteria and anger at the utter unwillingness to do anything other than keep on dancing until the Bundesbank comes to the rescue.  If Greece were to default, then in the short term, the Euro will come under pressure, but this may not be too much of a concern given the broad currency debasement we are seeing (esp China by proxy via the USD).  Once the market digests the fact that Greece is a tiny part of the EU, any decline will be temporary and moderate in my view.  A bailout may be more damaging as it will suggest that the weakest economies will drag the rest downwards and it will suggest to other member states that they can delay unpopular choices and wait for other nations to lend a hand.

Overall, there is a deep suspicion that the Greeks planned for this all along, get into the Euro by fair means or foul and then carry on assuming the Germans would come to the rescue for the sake of the single currency.  The market will learn that member states borrow money against their individual economies and the cheap borrowing that comes from the assumption of support should not lead to fiscal irresponsibility.

[Project Mayhem]

Yeah, agreed, Greece might not sink the USS Eurozone , but I'm just saying there are plenty of other debt-financing failures looming around the world.  Interesting points on Germans planning to come to the rescue all along, thanks.

[Anonymous]

The Greeks point the way toward how the whole notion of a one world currency can be undermined. The European Union is supposedly the test waters for the one world currency. Greece is offering some insights into how individual nations can remain cantankerously sovereign. Thank you very much.

Shifting the deficit burden off onto the other members states of the union is incredibly clever. It shows how to disable the entirety of the European Union and bring an end to the nightmare of the goal for a one world currency, which is a threat to majority of the human race.

[deadhead]

Pakistani here we come,

got ourselves another vietnam.

so, do the tali/al q guys start thinking about hiding out and waiting out our "18 month" gig or do they put on the full court press to get a couple of nukes before the usa surge.....

[Mr Shush]

Maybe more like Korea than Vietnam. The Pashtun/Pathan are a minority in both countries, but a powerful one because heterogenous, ideologically committed and, to be frank, a tough bunch of bastards. A Taleban-ruled Pashtunistan would be an awful place for its own people (women in particular), but would not, in my estimation, represent a significant threat of any kind to the security of Western nations. A substantial collapse of Pakistan involving large additional areas coming under Taleban control and the fall of the government would be an utter disaster for at least the region (by which I mean South Asia as a whole) and very probably for the West as well: a nuclear terrorist attack in India would become a near certainty, and one in the West moderately likely. Political stability in Pakistan does not necessarily entail massive military intervention in Afghanistan, but I'm not ready to rule out the possibility that it might, and I am convinced that it is an indispensable policy objective. A three state solution may well be the best one available, as loath as I am to condemn tens of millions to theocratic rule for the forseeable future.

[Project Mayhem]

Excellent points.  The Pashtun are tough people , no doubt.

[Anonymous]

You seem to suggest that there is a third option beyond "unlimited commitment for all eternity" and "leave in the future". Please enlighten us.

[Mad Max]

I don't see those options as being mutually exclusive.  The danger level there is starting to glow orange.

[Anonymous]

Or maybe the Americans are there not to prevent Al-Qaeda ("The Base" , "All of you" - George Bush Jr to a meeting of laughing business men) from acquiring nuclear weapons but precisely to guarantee that event..and to assist in their subsequent use upon American Soil.

After all, it would look rather suspicious for America to use American weapons on Miami and then say someone else did it, no?

[Bob]

Not saying I believe it, but since the animal conspiracy spirits are out, I would think Detroit the perfect target.  Dead industrial base, bankrupt city, poorest urban area, and the nation's largest population of Middle Eastern Imigrants ("traitors" to "Islamic Terrorists, I would guess).  Picture the sheer evil beauty of it all--especially the fallout from following up on the murder of so many immigrants with nuclear attacks on their families back home . . .  

[Mad Max]

Problem is that so much of the country (blue or red) really couldn't care less about Detroit, and it's next door to Canada.  I would be more worried about Oakland or the east LA area cities (prominent yet not important to the most established political interests) or any random major city in the heartland, other than (for hopefully obvious reasons) Chicago.

[delacroix]

I believe the range limitations, of pakistani nukes, would exclude the US as a target. it would have to be a nato ally

[Anonymous]

Exactly.

1. Provides additional popular support for fighting Al-Qaeda.
2. Provides the needed public support to go into Iran, or any other country, to prevent the development of additional nuclear weapons.

[Anonymous]

good work as always

[Project Mayhem]

test

[Bolweevil]

Is this thing on? Can you hear me in back?

[Gordon_Gekko]

For some reason this simple comment of yours has been causing me to ROTFLMFAO. And here is what first came across my mind while thinking of a response to your comment:

"Hello...1..2..3"

[Daedal]

If I ever become a standup comic, I want you in my audience.

[truont]

I know what GG is talking about.  All the insanity going on in the economy, the lies about USGovt statistics, the horrible repercussions of the unholy union of Corp-Gov--it is all hitting me at once.  I feel seriously punch-drunk.  I find myself at times laughing at things that should not be funny at all.  Hi, my name is truont, and I am a recovering sheep.  Thanks for listening...

[Uncle Remus]

bobmatized has a better ring to it tho....

[Daedal]

Noted. I was just testing out some sardonic humor.

[MsCreant]

The Chorus: "Hello truont."

[anarkst]

testing is way over-rated

[Anonymous]

Indeed. Fire, ready, aim