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.
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
Guest Post: Why The Big Drop In 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.
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
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?'
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."
THIS WEEK IN MAYHEM
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.
by John / PM Research / Zerohedge / NYC
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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