Good morning, worker drones: This Week In Mayhem
Good morning, worker drones: This Week In Mayhem
by Project Mayhem
Journalist thrown out of Copenhagen by UN security thugs, Dems to lift debt ceiling in game of currency Jenga, Sovereign debt crises emerging, Obama protects Bush torture lawyer Yoo, Afghan 'army' a bunch of pot-smoking teenagers, Chavez launches Telenovela.
LAST WEEK IN MAYHEM
1) Copenhagen - journalist thrown out by UN security for asking questions regarding Climategate.
Well the Copenhagen conference continues, with the expressed purpose of creating 'global governance' which is a euphemism for world government. This objective has been detailed in previous articles. The system of international control being established in Copenhagen will be built upon the pretext of trillions hallucinated tradable carbon credits , and the associated 'greening' of the international economy. Of course this will ultimately be directed by the UN, IMF, and BIS, for the benefit of international banks.
What is remarkable about the above video is that we finally see the new system coming into view, and it looks much like a military dictatorship, where journalists are shut down by private police, acting on behalf of the unelected bodies of world government. Give it another five years.
CLIMATEGATE - Earth's Ever-Changing Climate
2) Democrats to lift debt ceiling by $1.8 trillion
Lifting the debt ceiling works until it doesn't.
I have absolutely no love lost on any of our politicians , with the exception of maybe Alan Grayson and Ron Paul, but in order to refresh my low opinions, idiot democrats Congress Critters have done their part to hasten the arrival of a global currency crisis by raising the debt ceiling. Thanks guys!
The next big wave in the global economic crisis will likely be in sovereign debt and currency. The only question is where will these problems emerge.
In a bold but risky year-end strategy, Democrats are preparing to raise the federal debt ceiling by as much as $1.8 trillion before New Year’s rather than have to face the issue again prior to the 2010 elections.
“We’ve incurred this debt. We have to pay our bills,” House Majority Leader Steny Hoyer told POLITICO Wednesday. And the Maryland Democrat confirmed that the anticipated increase could be as high as $1.8 trillion — nearly twice what had been assumed in last spring’s budget resolution for the 2010 fiscal year.
3) Sovereign debt crises emerging; time to place bets on epicenter.
Dubai prior to running out of money
We expect sovereign debt default probabilities to increase astronomically over the next year, due to a multitude of converging factors. Tyler has done alot of great work on this lately, and has provided us with the latest updated CDS (credit default swap spreads). Ukraine, Venezuela, and Argentina top the list. We also expect potential problems from Dubai, Greece, Romaina, Latvia, Bulgaria, or Bahrain. Of course the most interesting is the State of California is in such bad shape that it is #16 in the list. Perhaps we should just give it to China as Marla has suggested.
Sovereign Debt Default 5Y CDS spreads.
We place bets on Dubai, Ukraine, or Greece.
4) Obama shows true colors; wants suit against 'torture lawyer' Yoo dismissed
Yoo won't answer whether Bush can bury sometone alive -- YooTube
At this point, either people who voted for Obama have admitted they were deceived by this man's sparse record and smooth talking, or they have decided to drink the Kool-Aid completely. Luckily, most sensible, sane, and rational people are realizing that Obama is simply Bush 2.0 , a man in a suit to carry forward an internationalist agenda. Take for example policy on the Patriot Act, Warrantless Wiretapping, the Iraq War, the Afghan War, Corporate Lobbyists, CIA black prison sites, and Government Transparency just to name a few.
To further illustrate just how bad this really is, Obama's lawyers have filed for dismissal of the lawsuits brought against John Yoo, the infamous Bush 'torture lawyer'. In case you don't remember, Yoo was the guy who implicitly said that the President had the authority to have someone buried alive if the President deemed it critical to national defense. We really are dealing with criminal lawyers in our government -- it is unfortunate that the Obama administration is protecting these criminals.
5) Afghan Army a bunch of pot-smoking teenagers
This one is a real eye opener. Pretty amusing too. We hear over and over about how the Afghan army will soon take over security operations. Well, as this video shows, the Afghan army is basically a bunch of teenage hash smoking screw-ups. This is what we are spending billions and billions of dollars on? What a joke hahaha! Well , as long as we are protecting the opium crops and the pipelines...
6) Leftist Latin American bloc to begin using its own virtual currency, the 'Sucre' in January
Chavez , oh Chavez. When will you get your own telenovela? Well regardless of our fearless Venezuelan leader, the left-leaning Latin American countries are launching their own regional currency called the Sucre. The effect of this regional currency remains to be seen. The real question will come down to settlement volume and what sort of transactions are being settled. The effect will probably negligible unless there is a US banking system shutdown, forcing use of alternative settlement mechanisms.
Consider this trend towards currency consolidation and regional currencies to continue. The banks want this , bad. Ultimately the goal is to get the whole world on a single system, probably the SDR with a 'carbon-credit' component. Regional currencies are a stepping stone towards this eventual goal. Don't worry friends, we'll get a new currency here in America as well once the dollar takes its mighty plunge! Yes, the plunge off the cliff to its rightful value far far below. If and How this US regional currency is established is the subject of considerable debate. We expect a North American regional settlement currency to be launched between 2012-2017 at the latest. What may happen is that some form of "dollar" paper money is seen in US , Canada, and Mexico , but that all three currencies are pegged to the SDR "underneath the hood". This would be in line with the various writings we have seen coming out of Foreign Affairs over the past year.
In any case, the Sucre is a perfect illustration of the trend towards regional, and ultimately towards global currency. This also illustrates the waning influence of the dollar on international settlement.
"No sucres will be printed or coined, but the virtual currency will be used to manage debts between governments while reducing reliance on the U.S. dollar and on Washington in general.
Cuba already signed an agreement on Saturday to pay for a shipment of Venezuelan rice in sucres, according to Rogelio Sierra, the island’s deputy foreign minister. He declined to say what the shipment was worth."
The group was formed by Venezuela’s self-described socialist president, Hugo Chavez, as an alternative to U.S.-backed free-trade consortiums. Member nations are Venezuela, Cuba, Nicaragua, Honduras, Ecuador, Bolivia, Antigua and Barbuda, San Vincent and the Grenadines, and Dominica.
THIS WEEK IN MAYHEM
Watch for industrial production tomorrow, whether the gold price puts in a bounce off $1100, and Jobless Claims and Money Supply on Thursday. And of course let's watch Pakistan because there has been an article in the Washington Post nearly every damn day of last week hyping up the threat level.
And unfortunately, the Copenhagen treaty is very likely a done deal. Governments and NGOs will agree to make a binding agreement to sign the next treaty. Mega-banks will rejoice. You will have skyrocking energy costs. There are some very rich people with trillions riding on the treaty, and it will go ahead despite the Climategate scandal showing global warming to be UN-funded scientific fraud. On the plus side, the polar bears will most definitely be okay!
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. Sign up for free news updates and future subscription information--
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.
Sign up for free news updates and future subscription information--