Good morning, worker drones: This Week In Mayhem

Project Mayhem's picture

Good morning, worker drones:  This Week In Mayhem

by Project Mayhem

Chavez threatens speculators with military force, currency crises will go global, CIA predator drones destabilize Pakistan, Af-Pak war for control of Central Asian energy, Secret negotiations on health care anti-democratic, China is #1 exporter, 'domestic extremism' (wtf!) team investigates Climategate, California requests bailout.



Venezuela's President Chavez warns price 'speculators'

Shoppers look at imported appliances in Caracas (9 January 2010)
Venezuelans have rushed to the shops to buy imported luxury goods

Venezuela's President, Hugo Chavez, has said troops will seize control of any business that raise prices in response to the devaluation of its currency.

He said there was no reason for prices to go up, and speculators' businesses would be handed over to the workers.

Okay this one is pretty interesting.      Part of what we are expecting in 2010 and beyond is a combination of debt and currency crisis.  That is, sovereign funding issues by governments around the world.  Venezuela is relatively high up the list of sovereign CDS spreads, so it would only make sense that the beginnings of a currency crisis would occur there.


Sovereign CDS Spreads: 12/08/2009

What is happening in Venezuela is that there are a series of government-imposed exchange rates, which in a sense are sort of like capital controls.  Chavez has created a dual-tier system of exchange rates, one for 'priority imports' and another for 'non-essential  imports'.  What essential occurred in Venezuela in the past few days was a 50% currency devaluation of the Bolivar for all practical purposes.

As many know, when we start get into 'period doubling' the math can become ridiculous very quickly. Cendas, a Venezuelan economic think tank, now predicts inflation will move past 33%.  Which is sort of a ridiculous forecast, considering with the recent devaluation inflation is now well past 50%, so duh, obviously inflation is higher than 33%.

The comical part of this whole fiasco is that Chavez urged his supporters to "publicly denounce the speculator".  Government cannot impose price controls. Or rather they can -- but it only makes things worse. Price controls create black markets.  There are only two ways of rationing -- rationing by price, and rationing by lining up.

Practically speaking, governments can ban the export of food, or back the currency with oil revenues, or any number of other practical solutions that would be in the public interest.  But the attempt to use the Venezuelan National Guard to enforce limits on speculation during a government devaluation will only make things worse.  It will drive commerce underground, and will cause goods to disappear from the shelves, as the velocity of M0 and M1 narrow money increases in order for people (in particular the small Venezuelan middle class) to protect themselves from the currency devaluation.

These symptoms of currency crisis in Venezuela are the beginning of a larger global trend, and we expect currency and debt crises to spread worldwide between 2010 and 2013.

Af-Pak war for control of Central Asian energy

As mentioned before, the objective in Afghanistan is four-fold.  To protect the drug trade (which runs into the hundreds of billions of dollars) , to control Central Asian oil and natural gas in Kazakhstan and Turkmenistan, to get access to the Pakistani deep-water ports, and to cause conflict with Russia and China (or better yet the entire SCO).

Pakistan's government has reported US drones killed ONLY civilians in 39 of 44 attacks during 2009.  This includes attacks on weddings and so forth.  People need to ask themselves here Cui Bono?   Who benefits?  The obvious geopolitical objective here is national destabilization.  With Brzezinski in the drivers seat of US foreign policy in Central Asia, the purpose is to fracture Afghanistan and Pakistan into a series of micro-states which can be easily controlled during the next century.  In order to do this, society must be destabilized, the government must collapse, and civil war must ensue.  This is what we are heading towards in this region of the world.

Fortunately, people seem to be catching on to the cynical machinations of their 'leaders' , who care nothing for the public, and so we can only hope this trend of exposure of various national elites will continue thanks to the Internet.

Pakistan’s government reported US drones killed only civilians in 39 of 44 attacks on their country in 2009; with over 700 innocent civilians killed, according to Pakistan's most widely-read English newspaper. Pakistan has repeatedly publicly denounced the US attacks, making the US guilty of War Crimes as they do not have explicit permission from Pakistan’s government.

Afghanistan: only the first move in the grand chess game for control of Central Asian resources

So if anyone still thinks that the surge in Afghanistan is strictly intended to defeat the Taliban and the remnants of Al-Qaeda, it's time to think again. This is the new launching point for the eventual control of the Balochistan region. The threat of Iran becoming a major player because of its gas and oil resources and the desire of China to also become involved in that area must be neutralized at all costs.

The Military-Industrial Complex is Ruining the Economy

"War always causes recession. Well, if it is a very short war, then it may stimulate the economy in the short-run. But if there is not a quick victory and it drags on, then wars always put the nation waging war into a recession and hurt its economy."

You know about America's unemployment problem. You may have even heard that the U.S. may very well have suffered a permanent destruction of jobs.



Domestic extremism' (wtf!) team investigates Climategate.

As mentioned previously , with the unfolding of Climategate, we see the real purpose behind the global warming scam, and that is the implementation of a new international banking system complete with carbon taxes.  Two interesting stories on this subject have emerged in the past week -- the first , that on a prominent liberal site with an anonymous comment suggested executing or imprisoning climate 'deniers'.

We must understand this sort of thinking is the root of fascism -- the all or nothing politics behind some of the most destructive movements of the past century.   The complete sublimation of individuals to a movement which gives meaning and purpose, and the expensive of destruction of individuality  This is only possible because of the atomized and fragmented individual seeking meaning from a larger social movement-- as characterized by Hannah Arendt in her 1951 work The Origins of Totalitarianism.

Death To Skeptics

A public appeal has been issued by an influential U.S. website asking: "At what point do we jail or execute global warming deniers." The appeal appeared on Talking Points Memo, an often cited website that helps set the agenda for the political Left in the U.S. The anonymous posting, dated June 2, 2009, referred to dissenters of man-made global warming fears as "greedy bastards" who use "bogus science or the lowest scientists in the gene pool" to "distort data."

The second interesting story was that instead of investigating the millions , if not billions in fraud committed by the corrupt scientists involved in the UN 'global warming' scandal, the resources of the investigation are being spent on uncovering the source of the 'leak' or 'hack' -- whichever it was -- related to the data coming out of the corrupt British CRU , affiliated with the UN IPCC.

This is rather hilarious  If uncovering the objective truth is what is now meant by 'domestic extremism' , we are in for a wild ride over the next five years.  Though we should have known this sort of Orwellian thought dystopia  was coming, considering the sorts of laws being passed in the United States over the past several years.  One which comes to mind is the Violent Radicalization and Homegrown Terrorism Prevention Act of 2007.  Another law which frames the public as the enemy.

In a time of universal deceit - telling the truth is a revolutionary act.
-George Orwell

Climategate investigated by national 'domestic extremism' team

Norfolk Constabulary continues its investigations into criminal offenses in relation to a data breach at the University of East Anglia.  During the enquiry officers have been working in liaison with the Office of the Information Commissioner and with officers from the National Domestic Extremism Team. The UEA continues to co-operate with the enquiry however major investigations of this nature are of necessity very detailed and as a consequence can take time to reach a conclusion. It would be inappropriate to comment further at this stage.

California approaches funding crisis

A month or so back, we published latest sovereign CDS spreads showing the list of nation-states where we expected debt or currency crisis.  As if on queue, as today with the Venezuelan currency devaluation, another contender on the list -- California -- has requested a bailout from the Federal Government (also known as Uncle Sugar).  

The California budget crisis has been dragging on a long time, and probably could drag on a good bit longer, but we can only realistically expect the funding crises in various US states to worsen -- causing another classic example of problem-reaction-solution where more power is given to the Feds and central banks around the world.  Ultimately power is flowing upward, away from the localities and states, towards the US Federal Government -- and ultimately towards global institutions such as the UN and the IMF.

California Requests Bailout from Uncle Sugar

Republican Gov. Arnold Schwarzenegger asked for $6.9 billion in federal funds in his state-budget proposal Friday and warned that state health and welfare programs would be threatened without the emergency help.

A Call to the People of the World to Support Iceland Against the Financial Blackmail of the British and Dutch Governments and the IMF

Birgitta Jónsdóttir is the leader of The Movement, a group within the Icelandic Parliament which has emerged from the mass struggle of Icelanders against the financial blackmail brought to bear against their country by the governments in London and The Hague, with the backing of the IMF, in the wake of the insolvency of three large Icelandic banks in the midst of the Lehman Brothers-AIG world financial panic of September-October2008. Birgitta Jónsdóttir is a courageous leader in the fight for national sovereignty, independence, dignity, and the economic well-being and future of her country.

Secret negotiations on health care anti-democratic

For those who are on one side of the idiotic partisan divide or the other, the hallucinated , ephemeral, and corrupt nature of politics should quickly become apparent.  It is a show, and the politicians are the actors.  Democracy is passé, and you have absolutely no control over your leaders.

As if to illustrate this point, we now see the negotiations on the trillion dollar bank-pharmaceutical-healthcare giveaway to corporate monoliths are occurring in secret, not exposed to the pesky light of the blogs.  Expect these trends in government to continue, with transparency decreasing by the day, and authoritarian government becoming all the more brazen and tyrannical.

Secret negotiations on health care are scandalous

In what has to be the most despicable, sleazy and unethical display of political arrogance, President Barack Obama and Democrats have decided to bypass conference committees and continue to have the writing of the health care bill done in secret.


China , past , present, and future

And lastly, we should take a look at China.  Over the past century, first with the Open-Door Policy, and later with Kissinger's Chinese policy in the 1960s and 1970s, US manufacturing has steadily and deliberately been given to China by US elites. This policy has finally come to fruition in 2010, where China has exceeded Germany as the world's largest exporter.

This will be important for the future of US policy in Central Asia, where both the Chinese and the Americans have a stake for the next 100 years.

China becomes biggest exporter

China has overtaken Germany as the world's biggest exporter of goods after exports rose for the first time in 14 months, data has shown.




Project Mayhem Research (PMR) is a DC/Baltimore-based grassroots think tank dedicated to exposing corruption worldwide. PMR is affiliated with, 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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Anonymous's picture

were is the new monday mayhem

UnBearorBull's picture

YardFarmer - Interesting. Always thought those pirates provided a fine excuse for sending naval power to that region.

UnBearorBull's picture

Seems to be some uninformed doubts - or are they denials? - about what Climategate has exposed. It was much more than just the emails, and the analysis of their methods is just coming out. Like Watergate it is starting slowly, but surely, and will not go away.

Here's some specific examples of why Madoff should have been working for the CRU gang.  The third one is a interesting audit of how they fudge numbers.

Some more big Copenhagen picture stuff, parts 1 and 2...

Some historical background...

A review of their progress...

P.S. Oh no! But if you can't believe Wiki...

delacroix's picture

china and russia, are more likely to be allies, than adversaries. both with substantial nuclear capability. India, will be glad to help push pakistan, into civil war. america, has become a bully, and bullies, only prey on weaker victims.afghan tribal fighters, are proving, to have a tenacity, and level of committment, that our massive, modern military, is having a lot of trouble defeating. someone eventually, stands up to the bully, like david and goliath. that didn't go well for goliath. the muslims, will not consolidate, they are not all the same, with the same beliefs. they do not want to be homogenized, and governed, by the elites. an american instigated proxy war, between India, and china, could be seen as a useful step along the road to global dominion.


Anonymous's picture

Close but no cigar, the plan is not to "break up" but to "consolidate", 10 years from now there will be a "unified Muslim trade block" like the EU, stretching from to Turkey to Africa & across to India, like NAFTA, like China, there will be no independent states or regions that don't go along with the globalist trade regime-at least none with any resources.

Yardfarmer's picture

As usual, Mayhem is spot on. The economic cataclysm which has engulfed the world in such a relatively short time is now on the verge of transmorgrifying into a military conflict of unimaginable dimensions which is breaking upon our largely unsuspecting world with wave upon wave of gathering tidal fury. When we look at the theater of the present conflict as it spreads across Central Asia and into the Indian Subcontinent we can discern the outlines of the conflagration which has already been joined by the opposing hemispheric alliances deployed one against the other and reflecting the collapse of the prevailing economic paradigm. Catastrophic conflicts in both Pakistan and Afghanistan, and the ongoing decades long evisceration of Iraq are the unfortunate staging areas of the larger geopolitical battleground upon which renascent China and the remnants of Anglo-American empire will engage. One is reminded here of Clauswitz's famous dictum, "War is the continuation of business by other means." On Pakistan's southwest coast is a significant Chinese enterprise, the deep water port and naval station being constructed at Gwadar at the furthest end of the Karakoram highway. Gwadar in the restive province of Baluchistan is destined to become an energy transport hub and oil pipeline into Chinese ruled Xinjiang designed to insulate Peking from interdiction of its oil supplies by hostile naval forces in the event of a major war. Additional Chinese port construction projects are taking place at Chittagong in Bangladesh and Sittive in Burma. In addition Chinese naval forces deployed 3 vessels to the Gulf of Aden in November and December 2008 on an unprecedented anti-piracy mission, evidence of an expanding Chinese naval presence. As the Chinese footprint across South Asia enlarges, and the U.S. economic meltdown reaches critical mass, a collapse of the dollar is all that is needed to bring about a military confrontation, the stage for which is already being set by the various geopolitical manueverings in South and Central Asia and the Indian Subcontinent.

Tic tock's picture

The US and Pakistan misplayed the Taliban entity they created. The CIA left them to Pakistan after the Soviets pulled out, Pakistan used/funded them in order to keep a neutralised northern border. The people in that area don't actually care much for the Pakistan government - but the Pakistan government doesn't have much to with the country of Pakistan, so there are people from all tribes milling around the few big cities. a strange reflection.. the government, seen fairly accurately as a US puppet, is abjured from every direction..and... often as not,  as an anti-Islamic (whatevr) obstacle. So all the bombs and killings done by the Jihadists.. is somehow 'justified'. ..I wouldn't lose sleep over what's happening there. The Interior minister has a case against him for keeping a private jail on his lands and making off with the women of the farmers/serfs who owed him money, or just got in his way. ..the case was made and proven ten years ago, judgement is pending. So the Taliban had support -probably for the wrong reasons- and more so when they were on the other side of the border... getting involved in caring about this is probably futile. And the nuclear weapons are dismantled and kept in separate locations, it's not as if the Taliban could assemble them.     



Anonymous's picture

1) Climate Gate stuff is passe at this point, move on, already proven false

2) Healthcare negotiations are not unheard of, conference has been bypassed in many bills.

I appreciate the attempt at clarity you want to provide, but one must attempt to stay within the bounds of reality before you are a *Truther (i.e. 9/11 truther)

Anonymous's picture

we missed you last week mr mayheim. i thought that perhaps you had been picked up for questioning and water boarding, and stuff...

Zippyin Annapolis's picture

Thoughtful and interesting read--

WaterWings's picture

In Orwell land we have another winner: Monsanto: Company of the Year:

Anonymous's picture

Three steps to reclaim our freedom:
1) Demand that "None of the above" is put on November ballot in your district.
2) If it is not there, do not vote.
3) If the politicians do not get the message by January next year, go to the streets, be seen and be heard.

If we wait longer than that, the only thing that will be left is to live under tyranny.

Anonymous's picture

Too Late!

Gordon_Gekko's picture

I am not really sure who in their right minds would still want to remain in the United States (or the UK, for that matter).

USA = Germany (during WWII)

Anonymous's picture

Are you already out of the US, GG?

Anonymous's picture

Where do you go??? China?

Shameful's picture

That's the trick though isn't it "right minds".  I think there will be a trickle of people out but most people either don't know what is going on or think that they can ride it out.  I've heard comments like "If I survived Carter I can survive this" or "I won't leave this is my country and I'll fight to keep it".  I feel silly for sticking around to finish my degree knowing the situation we are in.

chet's picture

'A public appeal has been issued by an influential U.S. website asking: "At what point do we jail or execute global warming deniers."'

Are we really going to start tarring people with the anonymous posts of commenters on their sites?  How would Zero Hedge stand up to that scrutiny?

PierreLegrand's picture

Ramzi Yousef

Khalid Shaikh Mohammed

This is the new launching point for the eventual control of the Balochistan region.


The two names above are the reason Baluchistan is the target. You may have heard of them. Ramzi Yousef is a poster child for why criminal prosecution is such a disaster when you are fighting the radicals of Islam. Khalid is Ramzi's uncle and either the planner of the 9/11 attacks or the person that taught George Bush how to pilot remotely piloted airplanes depending on your grip of reality.

Anonymous's picture

Get a real job you witless ferret.

PierreLegrand's picture

Ah gee does this mean we won't be sharing a beer? Fuck I was so looking forward to hearing about the latest paranoid delusions.

deadhead's picture

So if anyone still thinks that the surge in Afghanistan is strictly intended to defeat the Taliban and the remnants of Al-Qaeda, it's time to think again

I've no comment either way on the theory about controlling central asian resources.

However, if you are sitting in the Oval Office as the President, you have to be highly concerned about the ramifications if the Tali/Al-Qaeda grab a few of the Paki nukes. If they succeed, and they sure as hell want those bad boys, the global landscape has changed dramatically. 

Gordon_Gekko's picture

Except Taliban/AlQaeda are nothing but CIA sponsored/created entities. So all the talk of US "fighting" them is pure HORSESHIT.

PierreLegrand's picture

So then if the Al Qaeda exist were they the ones piloting the planes or was it Bush and Cheney playing with an executive version of Wii? What hit the pentagon? Was that a missile or a plane? Was the second plane remotely piloted or not? And that whole story of passengers on Flt93 bullshit?


Gordon_Gekko's picture

Shut your piehole, you government minion (not that your comment makes any sense at all). Hey, I gotta name for ya - ObamaBot.

PierreLegrand's picture

Oooooh talking scary man! Hey just checking if you believe that 9/11 was a plot by McBushCheneyHalliburtonHitlerNazis which allowed them to start a war to bomb brown people so the jewish people could steal their land? That seems to be a popular belief around here  and you seem to be most of the way what is it tough guy? Did Bush remotely pilot the second airplane?

Is it any wonder that Libertarians have never won an election....

Hephasteus's picture

Oh fuck you pierre. Why was only the accounting wing hit and why was everyone else out of the building before it hit. Why the fuck was only financial targets hit that day. I know bush did it. I know bush senior did it. I know bush jr did it. Fuck the bushes. Fuck their ancestors. Fuck their children, fuck them in all time and all space. Fuck everything they've ever been and everything they will ever be.

Gold robbers is all they are.

Lou629's picture

No doubt the same source will soon be reporting:  US / CIA conspiracy responsible for 7.0 Haiti Quake!  

You conspiracy wingnuts are getting even more ridiculous than you already were.  Thanks for the laugh! 

WaterWings's picture

It's Lou! Your consistency of posting anti-wingnut rants is actually pretty funny.

Here's something else for you:

MsCreant's picture

Oh dear, I really should have read further before commenting. What a scream!!!

Andrei Vyshinsky's picture

Since the Taliban wasn't even a factor in Pakistan until we made them one, perhaps what the President ought to be worrying about is guaranteeing their political success by droning the hell out of Pakistani civilians about once a day. And with a total of an estimated 100 operatives in both Afghanistan and Pakistan, Al Queda has about as much chance of gaining control of the Pakistani nuclear arsenal as the Vatican. Its precisely this Reichstag fire fearmongering of yours that has us making mistake after mistake in that part of the world. Think about it, we have about 1000 troops in Afghanistan for every single Al Quada and we're on the defensive! I mean really, someone needs to re-think this insane project.

MsCreant's picture


Sweetheart. You're being a fucking prick and it is sooo unnecessary. Like this approach fosters peace and trust or something. Yeah right. You are acting as toxic as you are accusing others of being.

Lemme show you how to disagree in a civil way. deadhead is cool. Check it out:


Hey deadhead,

Bro, glad to see you around the blog. Say, do you think it is possible that Al Queda is more of an invention than anything else? Do you further think it is possible that, with such an invention, the US gets a cover story to go in and bomb innocent people to test out all its neat-o equipment, and otherwise set up camps that enable it to do other dastardly deeds, like, you know, taking the oil?

Just sayin'. I love ya and all, but I feel like you are drinking from the Al Queda-aide a little deeply. In all seriousness, I invite you to reconsider what appears to be an unwarranted and unfounded trust for Obama and any of the motivations that any recent president of this country has handed us for being at war. To the point, I have found both democrats and republicans to be lying sacks of shit. Why believe them about Al Queda?

You feeling me deadhead?

You know I mean no disrespect. But I do think your thinking is too simplistic on this one.



Your way spews hate and wins no converts. It's almost like you just want to start the fight rather than try to help him see something different. My way, well, if deadhead comes back, lets see what he says...

Andrei Vyshinsky's picture

I know, you must have thought either this was the Gallup Poll, that I was running a popularity contest or that you'd stumbled into the sales department, eh, sweetheart? Tell you what. While you're showing me things, why not show me how you bend over and crack a smile. Atta girl.

MsCreant's picture

Too bad. Some your content was good. Look up Godwin's law.

Andrei Vyshinsky's picture

Now you must have missed it, dear. A couple of George Washington's ago we put this whole Godwin thing to bed. But for you, here goes: Godwin concerns analogies and analogies involve comparisons. I wasn't simply comparing this slug, Legrand, to a Nazi, I was calling him a Nazi, capiche? Look up common sense.

MsCreant's picture

You addressed deadhead. You said in post #190218

Its precisely this Reichstag fire fearmongering of yours that has us making mistake after mistake in that part of the world.

You were accusing him of "Reichstag fearmongering." Here was my issue, I agree with you that the whole "terrorist" trope is an opportunity for fearmongering. Could be manufactured from start to finish, could be some of it is real and then pumped up huge to stir the pot. But applying that analogy to deadhead is an attack that is not going to win him to your way of seeing things.

I know it is the culture of this place to act like this. Just sucks when you see folks abusing each other for no clear reason. deadhead has a history (with me any way) of being reasonable. He sure does not love Obama nor trust the current bankster/administration. Whipping out the Nazi metaphor on him (which is definitely an application of Godwin) makes a winning position (IMO) a loser.

This is a free planet, I am just one opinion. Abuse away. If you cared about the ideas themselves, I would think that you would contextualize and watch who says what before you start calling names. Not calling names is better, but hell, I succumb to it too. One thing about deadhead is he is rarely abusive. So I butted in.

And that, is a mistake I will own.

I still say, too bad.

Andrei Vyshinsky's picture

Oh, yes, something you might want to consider for the future, darling, reflecting on the meaning of the words presumptuous and supercilious. Once grasped, they inevitably help those so enlightened to avoid stepping quite as boldly into doggy do.

PierreLegrand's picture

Holy Smokes who knew? The radicals in Pakistan never had a chance to control Pakistan until we arrived in goodness.

Andrei Vyshinsky's picture

The man's reference was to the Taliban, Herr Gauleiter, not to some ethereal, unidentified group of "radicals". Its Nazi filth like you that have had us involved in aggression after aggression in that part of the world, either in support of Israeli territorial ambitions and ethnic cleansing or so as to feed the insatiable demands of our arms and energy lobbies or we'd have little need to be concerned about "radicals" of any kind in any part of the world. So let me give you a little help. If you're worried about loose cannons with nuclear arms this week, maybe you ought to direct your attention to those in Israel, to the Avigdor Leibermans who are just itching for an American war with Iran. That way you wouldn't need to be dealing with unnamed phantoms.

PierreLegrand's picture

Ah the Nazi reference...project much Mr. Godwin? 

Ethnic cleansing? Moi? I would ask if you are fucking stupid but the answer is fairly obvious.

So then you think apparently that a lunatic in Iran who thinks he is a witness to the 12th imam is less scary than an open Democracy. Okey Dokey. Quick pull your slip back up your jew hatred is showing.

Andrei Vyshinsky's picture

Now we both know that earlier, on another thread, I'd suggested your crawling back into the hole you came out of, don't we, Heinrich? Regretably, you didn't take that suggestion to heart. Was it that somehow I'd accorded you more dignity than you felt you really deserve and you'd like something more apropo? If so, why not try this one on for size: Next time you find yourself singing Die Fahne Hoch, draw a tub of hot water and go off in search of a razor blade.

PierreLegrand's picture

Dear man you are the one who knows all the songs...sing it baby!


Andrei Vyshinsky's picture

If I've understood the Icelandic situation correctly, we have a president- much unlike our own - who has decided to submit to a referrendum whether or not the recently passed, so-called "IceSave" legislation requiring the Icelandic people to stand behind the debt of three failed banks should be honored. British and Dutch banks would be the primary beneficiaries if they did. It is expected that the referrendum would overturn "IceSave", or "IceDestroy" as you might see it.

Hats off to a courageous president who is on the side of his people. Can you imagine the level of popularity either McCain or Obama might have enjoyed if, similarly, they had put TARP to a vote of the people? But doing what the Icelandic president did requires the operation of democracy in his country. Clearly, Iceland is a democracy. The United States isn't.

Anonymous's picture

Nope, the US would have declared Iceland a country full of terrorists [as G. Brownnose did] and/or in the possession of weapons of mass destruction and had send in the brainwashed marines backed up with some British and Dutch political goodwill...

Anonymous's picture

Stop wasting our time with the climate change emails story. The conspiracy crap is total BS

Manfred's picture

PM always enjoy your offerings.  Came across this article the other day, which seems to have some logic to it. The scientist's thesis (U of Waterloo) in his peer reviewed paper is that CFCs and not CO2 were the main contributors to Global Warming.

Anonymous's picture

Thank you P.M. for keeping Climategate front and center.

EU Referendum is doing the heavy lifting in europe on Algores evil twin Pachauri.

AGW is a scam second only to the Federal Reserve.

Even though everyone knew the communists were just as dead as Cap and Trade.

No one let up till the wall came down.

Harbourcity's picture

I have to agree.  Aside from the cap & trade, the climate debate is pointless.  Oil has hit its peak and even without all the sabre rattling, fossil fuel usage has no choice but to slow.  Besides when the US resorts to coal to compensate for their own bad planning in regards to peak oil, the climate is up for a raping.


Anonymous's picture

You don't call $40 oil selling for 80+ on no demand rape?
G.S. and their buddies over at ICE have been pyramiding futures back and forth on $1 trades so you can pull up to the pumps and pay twice as much.
Refineries are shutting down to match low demand.

Anonymous's picture

I also agree. Your reference material for most of your posts is dubious at best.