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Good morning, worker drones: This Week In Mayhem
Good morning, worker drones: This Week in Mayhem
by Project Mayhem
Project Mayhem reviews the most important financial and geopolitical news of the past week and takes a look at the week ahead.
*Warning: This column may contain graphic photographs of war.
LAST WEEK IN MAYHEM
Economic:
1) Poverty hits 1 in 8 Americans
not in america
Since recovery is ongoing, and the economy is healing blah blah, you will be pleased to know now 1 in 8 Americans have fallen below the poverty line. A wonderful and positive sign going forward. We will note the spread between the top 1% of the elite and the other 99% of the serfs has reached levels not seen in 80 years. This is what 'recovery' looks like.
About 2.5 million Americans slipped below the poverty line as recession and layoffs hammered the economy last year, driving poverty to its highest level since 1998, the U.S. Census Bureau reported Thursday.
The annual survey showed that more than one in eight U.S. residents - 13.2 percent - are living on less than $10,991 for an individual - slightly more than $200 a week - or $22,025 for a family of four.
http://washingtontimes.com/news/2009/sep/11/poverty-hits-1-in-8-americans/?feat=home_headlines
2) Barrick set to buy back gold hedges
a gold mine is a hole in the ground with a liar standing guard
Yes, Barrick, the crap company which shorted its own gold, in a mechanism of long-standing gold price suppression, that is now reaching its fantastic and ridiculous culmination, has said it will swallow its tail -- uhm wait, "buy back it's hedges" -- in an act of desperate irony. Dr. Fekete's article is highly recommended as is this video interview with the late and great Max Keiser and Rob Kirby -- all three of which have the full backing and support of Project Mayhem.
HAS BARRICK BEEN BARRICKED BY THE U.S.? - Dr. Antal Fekete
http://financialsense.com/editorials/fekete/2009/0911.html
The Barrick Gold Conundrum
http://www.zerohedge.com/article/barrick-gold-conundrum
Barrick -- good luck, we wish you the best in your cascading process of fail as gold finally breaks out in response to systemic meltdown.
3) France Set to Impose Carbon Tax
uncle sugar practicing 3" groups
gore signals to maurice after a successful heist
In the land of the baguette and surrender (France), soon the serfs will be paying for the very air they exhale. That's right French worker drones -- you are excreting poison. And uhm it's going to cause earthquakes and tidal waves and other bad stuff, so make sure you pay carbon tax to Goldman Sachs and JP Morgan and Maurice Strong of Chicago Climate Exchange (CCX). We swear this is because we care. Vampire Squid could not be reached for comment.
French President Nicolas Sarkozy has announced plans for a new carbon tax aimed at combating global warming.
The tax will be introduced next year and will cover the use of oil, gas and coal, he said.
The new tax will be 17 euros (£15) per tonne of emitted carbon dioxide (CO2). It will be phased in gradually.
http://news.bbc.co.uk/2/hi/europe/8248392.stm
4) UN Says New [World] Currency Is Needed to Fix Broken ‘Confidence Game’
Medvedev endorses the 'new world petroruble'. Brzezinski feigns outrage.
The 'global governance' morons at the UN and their henchmen in the CFR/RIIA have proposed a wonderful idea --a new world currency. Yes this will solve all our problems. So please, sit down and shut up. Leave the critical thinking to the 'experts' , in the employ of corrupt governments and their minions. Perhaps this is where the IMF SDR and the declarations of the global elites from last springs' G8 is finally headed. Keep in mind that as this process occurs you should be watching American Idol -- not reading Zerohedge.
The dollar’s role in international trade should be reduced by establishing a new currency to protect emerging markets from the “confidence game” of financial speculation, the United Nations said.
http://www.bloomberg.com/apps/news?pid=20601068&sid=aSp9VoPeHquI
Geopolitical:
1) Craptakistan death and decay
Once again , we must reluctantly put Craptakistan in our geopolitics list -- as the young die in foolish politicians' games ,who play for keeps in swirls of rhetorical delay. But really this is for democracy , freedom, and other such intangible bullshit , rather than the psychotic designs of the CFR, Kissinger, and Brzezinski . We are sorry we even have to present such images, but perhaps it will help provide a dose of reality , a red pill to obliterate the lies.
[afghan1]
guilty of what
[afghan2]
Victims of US air strike being buried in mass grave
[afghan3]
this 12 year old child is obviously a terrorist
[afghan4]
human acts of kindness must be eradicated
[afghan5]
this picture of a young Afghan burn victim is obviously faked
images source and analysis:
http://uruknet.com/index.php?p=m57797&hd=&size=1&l=e
NATO Chief ‘Concerned’ by Rising Opposition to Afghan War
Speaking at a military ceremony in Norfolk Virginia, NATO Secretary General Anders Fogh Rasmussen said he was “concerned” by the rising opposition to the ongoing war in Afghanistan, cautioning that “the public discourse on the effort in Afghanistan has started to go in the wrong direction.”
http://news.antiwar.com/2009/09/09/nato-chief-concerned-by-rising-opposition-to-afghan-war/
Afghan alcohol ban after Nato staff were 'too hungover' to give explanation for airstrike that killed 70 civilians
Alcohol has been banned from Nato's headquarters in Afghanistan in the wake of an airstrike that killed up to 70 civilians
http://www.dailymail.co.uk/news/worldnews/article-1211736/U-S-forces-Afghanistan-dock-counts-storming-hospital-airstrike-death-70-civilians.html
Fake Afghan Poll Sites Favored Karzai, Officials Assert
Afghans loyal to President Hamid Karzai set up hundreds of fictitious polling sites where no one voted but where hundreds of thousands of ballots were still recorded toward the president’s re-election, according to senior Western and Afghan officials here.
http://www.nytimes.com/2009/09/07/world/asia/07fraud.html?_r=2
2) Why are the Russians digging tunnels in Georgia?
The
cagey Ruskies once again are up to no good. What else is new.
Actually who knows what in the hell they are doing, but supposedly now
the are digging tunnels in disputed provinces in Georgia, in the
province of Abkhazia. Perhaps it's for tactical nukes. Or maybe they are
just burying their newly aquired gold and/or unwanted toxic waste. Or perhaps this story is propaganda.
Either way, We continue to watch for any escalation of the Abkhazian
naval blockade, and for the tie-eating Georgian psychopath on the other
side of the disputed border.
Why are the Russians digging tunnels in Abkhazia?
http://georgiandaily.com/index.php?option=com_content&task=view&id=14409&Itemid=132
Lawmakers ok Kremlin bill on using force abroad
http://www.google.com/hostednews/ap/article/ALeqM5j6Ptn_bzLeKtVuo5tPt76_sTo55QD9AJUG6G0
this week in lol , russian edition
3) Lebanon PM-designate quits after Hezbollah refuses cabinet offers
Lebanon: highest concentration of hot girls of anywhere in this solar system
In
the tradition of stability that characterizes the blood soaked
paradises on the Mediterranean, we witness further progress towards
inevitable regional chaos-- uhm we mean 'peace process'. The
government of Lebanon has once again fractured, but perhaps this time
we will not witness a repeat of nostalgic 80s fashions , such as
digital waveform synths, legwarmers, and civil war. Furthermore, it is well known
among senior intelligence analysts that Lebanese girls are some of the
hottest on earth, so the situation could quickly 'ignite tensions'.
she started it
Lebanese prime minister-designate Saad al-Hariri said on Thursday he was stepping down after more than 10 weeks of trying to form a unity government with opposition groups including Hezbollah.
His
failure has fuelled concern over the potential for another protracted
political crisis in Lebanon, where power struggles have brought long
periods of government paralysis and violence in recent years.
http://haaretz.com/hasen/spages/1113776.html
4) Politician indulges his kinks with lobbyist, resigns, youtube evidence censored
[mike duvall]
was he reading Dan Savage? the world may never know.
In This Week In Kink, we present for your consideration a video of a crusty old man-politician discussing sleeping with/spanking female lobbyists, likely in exchange for legislative favors. But hey, that's how politics gets done, right? Remember kids -- there is no right and wrong -- that's just old fashioned nonsense. Moral relativism from here on out! This is your system America, and it is quickly fading into the dark ages.
Watch Mike Duvall accidently discuss lobbyist sex0r into live microphone.
http://www.youtube.com/watch?v=b2GKqTeBlAg
California GOP Lawmaker Resigns Over Taped Sex Comments
http://www.foxnews.com/politics/2009/09/09/california-gop-lawmaker-resigns-taped-sex-comments/
THIS WEEK IN MAYHEM
Economic:
1) Loaded event calander this week. We could have some significant market moving activity. Or Skynet could once again prevail. But as the economist/bounty hunter/replicant Harrison Ford once stated, the machines "are either a benefit or a hazard." If they are a benefit, they are not our problem. . . is this to be an empathy test?
suspicion / xkcd
source: cmegroup
2) Equity Markets. Asian markets were down as much as 2.5% overnight. A taste of things to come, or are the central banks playing games with your heart? That's not my name -- that's not my name ...
Cash for Flunkers
3) Gold. The yellow shiny stuff which CNBC tells you is useless (yet is carried as a reserve asset on central bank balance sheets) is important to watch. We may have the equivalent of a 'Chinese Put' (aka price floor) on gold going forward , based on recent information from the senior Chinese leadership. Project Mayhem's analysis does not see gold going back below $800-850 -- even in the event of a global equity crash -- and we have a January 2010 price target of $1200+. That said, expect temporary selling pressure during any forced deleveraging. Watch that RSI. Leverage kills.
don't buy this stuff it's just a barberous relic
Geopolitical:
1) Yemen
Yemen is well-known as the San Francisco of West Asia.
This week we highlight Yemen in our forward looking geopolitics, thanks to reader tips. Yemen is yet another country which is rapidly destabilizing, and one which we highly recommended as a family tourist getaway.
Yemen: great place to take the children and spouse
US May Be Sucked Into Yemeni Civil War
As the Yemeni government continues to reject calls for talks to end the conflict in the nation’s Shi’ite dominated north, rising numbers of displaced are creating a humanitarian crisis which and the conflict seems set to be long enough to force Yemen to seek international help.
Analysts say that as the conflict continues to escalate the US risks being sucked into the nation’s civil war, if for no other reason than to prevent Yemen from becoming another failed state.
http://news.antiwar.com/2009/09/10/us-may-be-sucked-into-yemeni-civil-war/
Aid Won't Fix The Crisis In Yemen
Conditions for thousands of displaced families in northern Yemen continue to deteriorate as a 4 September truce between government troops and Shia rebels to allow relief items in lasted only four hours.
Journalists have not been able to get accurate information on what is happening in the volatile city due to government-imposed media restrictions, including the disruption of mobile and Internet networks and blocking of roads leading to the city, Mahecic said
As reported in:
http://armiesofliberation.com/archives/2009/07/28/aid-wont-fix-the-crisis-in-yemen/
Yemeni Humanitarian Situation Worsens After Short-lived Truce
"On his anniversary, Saleh published an essay calling for dialog and tolerance. The same week, 18 protesters were killed by police, a journalist sentenced to jail and an opposition party prevented from holding its conference. A four-year rebellion in the north and a two-year uprising in the south threaten to engulf the nation in violence. Known al Qaeda operatives roam the capital freely, and teenage suicide bombers routinely target elderly tourists."
http://uruknet.com/index.php?p=m57683&hd=&size=1&l=e
Good health and good investing! May the corruption and lies wither and die!
»
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Furthermore, it is well known among senior intelligence analysts that Lebanese girls are some of the hottest on earth, so the situation could quickly 'ignite tensions'.<<<<
what? no furry armpits and hairy legs??? well i sware...:)
don't buy this stuff it's just a barberous relic...
karl denniger calls those, door stops and paper weights....:)
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Yemen? Yemen is as Yemen was, and always will be. Back when it was North and South, and when those of the Hadhramaut would later become the bin Ladens and bin Whoevers of the world, Yemen was even then a war in progress, though technically one could not call it civil. Ali Abdullah Saleh must be older than dirt by now, and survived the original contentious merger. He has prevailed in far worse circumstances than what is going on today.
By the way, Yemen is a beautiful country, with fairy tale architecture in Sana'a, great coffee (a touch of cardamom), and if you are wont to try it, ghat. And since AK-47's can be had at the local weapons souk for a song, remember that nothing says "We're Number One" better than a 30-round banana clip burst straight into the air, gravity be damned.
While Yemen is never going to be the US, the US may well become Yemen. That's where my fear is.
Don't look now but that cardboard covered ramshackle house is going for $650,000 out here in Simi Valley, down from $1.4 Mil back in 2007, still a good deal considering what the tents are going for over in the nearby tent city.
I also think I saw that Yemeni hut selling for $350,000 just north of Miami in West Palm Beach a month ago. Good deal for first time home buyers and that $8000 credit from the Feds.
That Lebanese chick may have started it, but she also definitely ended it, my search for the perfect queen that is! Huba Huba!
I always wondered where all the beautiful women that RobotTrader comes up with come from, cause they sure ain't hangin out in my town! I think this town has one huge ugly fat chick magnet.
And, I would tell those NATO chaps to bring back the alcohol because you're gonna need something to suppress one's conscience after dropping bombs on all those kids.
So is this NATO's Mi Ly moment with the little naked girl running down the road after her hamlet was napalmed? I'm as patriotic as anyone else but what are we achieving with the deaths of these people and our own troops? Nation building my ass!
Our troops should be home with their families and not in Iraq and Afghanistan killing children.
All these problems that solve themselves. Nobody likes the 'auto- solution', that's ANOTHER problem.
The big problem.
Carbon will be paid for one way or another. I don't care. I'm old. I have no children. I don't live in Manhattan any more. I don't care if Wall Street lies under 10 feet of sea water.
I really don't.
I always enjoy this column. One quibble, though, on the point about children in war -- particularly on the Pak side of Afpak, never underestimate the possibility that they've been placed there intentionally. Your point is that they're being victimized by pols who play for keeps, and that's surely often the case. But equally to blame are the unconscionable jihadists who try and hide behind a wall of innocents.
This made me laugh out loud. Thanks for the great column.
Mayhem,
Read your stuff and links on gold (thanks for good info), did some of my own reading. Tried to create a definition to understand gold that fits its basic properties. Why is gold gold, came up with this..
Gold has been the most consistent barter exchange intermediary over a long period of time.
Made more sense when I took out any reference of money or value out of the definition.
Thanks -- I agree that is a great quote
Nice article, thanks for posting.
There is no other verifiable+untraceable currency more suitable for the black market.
There will always be war, chaos and secrecy - so I assume there will always be a market for gold.
hey mayheim, you live in the nation's capital. what happened about that situation where they were going to try and pin the murder of chandra levy on that mexican drifter? haven't heard much about it, out here in flyover country. I know she was a sayanim, not sure why they killed her, but that mexican obviously had nothing to do with it as any competent dna analysis will prove of course, but as usual in cases of this nature, you have to lay the blame on some poor dumb slob. and looks like he is it, or is he?
Good question . . . yeah there are alot of murders in DC which are questionable. There is a new body in Rock Creek Park every few weeks. Not sure about Chandra Levy but from what I remember , it was definitely suspicious. Any time people connected with Congress or the White House turn up murdered one should be suspicious of the official story.
I just looked it up, and while I haven't really delved deep into the facts yet, the fact that Levy was having an affair with Rep. Gary Condit, who was on the House Select Committee on Intelligence -- that raises some major alarm bells. As for Chandra, she disappeared on May 1, Condit refused polygraph, was evasive, lied about the affair etc. I mean , it's pretty obvious that murder is the m.o. in alot of cases -- look what happened to the DC Madame after she threatened to out Cheney for using her hookers.
Sometimes I don't think people realize how far gone our Congress actually is. If our representatives are not corrupt (bribed), they have been blackmailed for their various sexual proclivities. See FBI Translator Sybel Edmonds et al in her taped deposition up on K St. These sorts of things are used by both domestic and foreign intelligence to 'hook' various targets in our government.
So to answer your original question, yeah, the whole Chandra Levy thing, but I'm not sure what exactly happened. My suspicion would be that Condit or someone he was affiliated with was involved.
i wonder what that cardboard shack is appraised for down at the county?
well let us not forget the shenanigans of the suspect known now as morning joe of msnbc fame. once upon a time a up and coming congressman from the sunshine state, but one morning they found a young girl dead in his local congressional office and then he says he is resigning his office. the next thing you know, old joe turns up in media and all is forgotten. yep, sure it is joe. perhaps another nice political blackmail job of some sort, courtesy of the mossad, on one of our congressmen, for whatever reason, is not known, but needless to say, he is now and forever will be in the pocket of AIPAC, on that you can be sure. its a dirty job and someone has to do it, and the israeli mossad do it so well, don't they?
Yeah Mossad does it well. FSB, CIA, MIT, are pretty good at it too. I haven't included ISI because we all know that is simply the CIA satellite office in Pakistan.
A part Lebanese beauty
http://www.actress-pictures.com/salma-hayek/images/salma-hayek-big-09.JPG
when Al goes to church on Sunday, I wonder what he hears in God's house? I think that he does not hear. It is simple. A man cannot serve two masters.
france:
http://www.youtube.com/watch?v=X5hrUGFhsXo
hahah that was awesome
Too many small time Big Men think they know WTF they're doing...
Too many on the bottom with nothing to lose...
That's RISK, Baby!
I must say TWIM is the perfect compliment to a big ass plate of kung pao chicken and a 64oz jug of Diet Mountain Dew.
Unconscionable that all night partying was a factor in that NATO bombing. That is just one in a string of events that make us just another invading power in the eyes of most afghanis. A great HBO documentary called "The Taking of Ajmal Naqshbandi" shows how even our best friends in Afghanistan truly despise us, and for good reason unfortunately. http://www.hbo.com/docs/docuseries/fixer/
As you noted with the Yemen articles, the Saudi-Iranian proxy wars are heating up. It is kind of hard after the generations of fighting to see this period in the Middle East as distinctly different than previous decades. Yet who would doubt that a high profile assassination in Saudi could set the whole world aflame?
The potential energy for incredible mayhem is astounding. It never subsides prior to release, it only gets worse.
The Afgan incident is grotesque and another example of the severe injustice that brings pushes people past the tipping point. The more we know about the cliff edge, the more resolutely we can stare back into the abyss. In that regard the information necessary to relate (as much as we can of course) to the pain and mayhem that goes on with our brothers and sisters is very important.
Always look forward to this article on my Monday mornings so thanks for delivering once again PM.
Great as usual.
Maybe a little more warning before photos of dead children.
However, photos of attractive women should be posted with abandon.
I figured by now people would realize I will post war photos. If you don't want to see them read the New York Times.
Au contraire! If we had to confront the pictures of dead and injured children more frequently, as well as the ties of the US military (and in turn the taxpayer) responsible for this happening, we might actually do the right thing and stop killing for fun and profit. Obama can take his "right war" rhetoric and cram it. We can throw in pics of the dead and injured US troops as well, since he recently quipped that vets should "stop whining" and pay for their own med care (since they were careless enough to get injured while serving the empire). Geez, the drones are rather ungrateful.
Agree, would only add out there somewhere is a proud parent bragging, sanctimoniously, their child invented a something or other at Boeing, GE, Martin Marietta , Grumman,etc., to help in the war. Or, some stock broker is informing their client they made a killing last quarter. Also, $800 billion of your tax dollar paid for that killing of innocence.
Bravo, great post! Ps: I too agree on the lebanese girls- what is the deal?? Holy cow.. I met a lebanese chick at a party in nyc once, I almost dropped a load right then and there. Shakira is half lebanese too.. Yum
Bravo! Thank you.
Enjoy the TWIM column, PM. Heh, TWIM, reminds me of the old This Week In Baseball show. In fact...take the below, mod it & bam, official TWIM merch!
http://mlb.mlb.com/mlb/images/video/twib/logo_twib_581.gif
Regarding the barbarous relic, my parents have both stated intentions of diverting some of their earnings/savings towards PMs, and have been hammering me for guidance.
So...in terms of physical holding, is it better to go with gov't minted rounds a la Maples/Eagles or bars as offered by Kitco/Northwest Mint/etc?
To clarify, they are taking a "systematic breakdown causes FRNs to be worthless & all hell breaks loose" view of things. So ETFs, GoldGrams/GoldMoney and such are all non-starters for them.
Thanks in advance for feedback!
Anon X 2 - thanks to you both.
Bags of 90% junk silver and 1 oz or fractional gold rounds.
Gold Eagles, Krugerrand's, British Sovereigns, etc.
Try www.apmex.com. They often have good clearance deals with minimum markup. Ebay can be a good source too.
In case you have to spend it someday, go with coins. You might need some small pieces to get things done. BUT watch the markups here.
Bars have less markup but have more liquidity.
Either way, you need to properly secure the stuff no matter which way you go.
I agree too. My former landlord was Lebanese. His daughter was absolutely smoking hot.
I have to agree 100% PM!
Lebanese women ARE very beautiful...
If I hold my breath for an hour, will they pay me CC's
I love this column....a most interesting and unique perspective.
I would like to add how nice it is that Chavez has decided to go nuclear. Putin's humanitarian and selfless altruism towards Chavez gives new meaning to the term 'international cooperation'
I dont know, but I been told
If the horse don't pull you got to carry the load
I don't know whose backs' that strong
maybe find out before too long
always good to hear from another deadhead....new speedway boogie, most wouldn't know of that one!
Please don't dominate the rap, Jack, if you've got nuthin' new to say. (Just jossin' dh. I love you, man!)
menage a trois of sorts. Russia in Venezula, US in Taiwan, China in Cherkizovsky market. Not to mention Georgians in Washington.
Agreed, great stuff!
Here I sit consumed with anger towards my yard that needs weeds to be destroyed and see these images of poverty and dirt making me feel bad.
I suspect that people have made war over beautiful women since Troy and made war to get the gold since the Crusades.
I think we are going to have one or two more good runs before it all is halted by those who live on the other side of the world and has no authority here in America.
Great stuff as usual. I smell one last bear trap before this carnival falls apart.
"One last Bear Trap".... Very funny, the current bear trap is doing just fine. Have a look at IYR,SLX,RTH,XLU etc, etc, etc.
10 months later, Bears are an endangered species.... SELL,SELL,SELL
http://stockcharts.com/h-sc/ui?s=X&p=D&yr=0&mn=10&dy=0&id=p22215284628
Its only a bounce, the Bears are OK. http://www.youtube.com/watch?v=AkIzeAH-4BY