The hypocrisy in the systems that we use for finance and government is a symbol of totally compromised ethics and values that are acceptable as long as you and your friends benefit. To think that our rights, environment and privacy will be protected while leadership is so conflicted is a pipe dream. The markets and the financial system will be used to drive the compromises of our rights while blaming the productive elements of our society while seeking to vindicate the parasites...fun times...all we have to do is watch Obama to see that happening.
The question for me is, is this headline is a sign of things to come?...I think it is...but in the current case this quote comes from Khalilullah Frozi, one of the two largest shareholders of Kabul Bank in Afghanistan.
We know the Ben and Shiela show has a nice theme music and is set on a fairy tale island with regular appearances by Larry Summers and Timmy Geithner and cameos by Greenspan as "Greenberg", Warren as "Nice gramps", Bartaromo as "Leggy Peggy" and Hank "the Bird watcher"...Lloyd has even been asked on the show, but he's been too busy making money - so he tried to get Trump to stand in for him. Dimon was not invited to appear because he's the director and secretly has a crush on "Leggy Peggy"...
Be that as it may, this show is a distraction and the panics in Afghanistan are a sign of the social distrust permeating the globe at this point. Every now and then the Ben and Shiela show will trounce the reality shows and transfix everyone, but reality will win out.
Back in Afghanistan they apparently have their own version of the "Ben and Sheila Show" starring Mahmoud Karzai, Khalilullah Frozi and Robert Gates. Cameo appearances are not allowed but Obama has been ask to appear, he seem to always be booked on "The View" when they ask him to appear - so he's also tried to get Trump to stand in for him.
The popular euphemisms this week are:
“People don’t need to be worried,”
“We’ve got enough cash..." "...to support the bank.
“Even if the whole financial system in Afghanistan collapses, we have enough money to support it,”
Other tantalizing clips:
"The biggest mistake, by my partner, Mr. Farnood, was to buy $160 million worth of villas and office buildings in Dubai, in the United Arab Emirates, at the height of the real estate bubble in 2007 [with the banks money]. The next year, the market collapsed. Nobody could have predicted the crisis, nobody” - Mr. Frozi, Kabul Bank
In the show, many of the villas bought with the banks (government's) money, are occupied by friends, and prominent Afghans, like former Vice President Ahmed Zia Massoud and Mahmoud Karzai.
“This is nothing but a panic,” Mr. Karzai said. “People are under the impression that the bank is failing, and it’s not.”
In, previews for next weeks show, Mr Farnood, a world-class poker player, was ordered to hand over £100 million of apartments and villas in Dubai which he had purchased with the banks money for figures including Mahmoud Karzai, the president's brother.
Apparnetly, these units and villas are worth as much as Dubai World and its refinanced 59 billion in debt - less than ZERO.
What is interesting about these two shows is that apparently the "Ben and Shiela Show" is a few episodes behind its Kabul sister. They are still sipping Pina Colada's on Ben's get away island. The theme will change and I hear that they will be hiring the writers from "Ka-BULL" back in the US.
I know this post is a bit of a transient, but I think its ironic that we have not heard about Dubai for a while, or quite a lot of other things like Bank Runs and Lehman. Every thing's supposed to be just fine. The last time I heard about bank run's they were occuring in the most prolific debt carnivore of the world - "England" and were shortly followed by Lehman...and the bottom about to fall out...I think this is the same story, different station. The headlines look fine but the crap is all still there...albiet covered by Peggy Leggy's negligee and a few of Ben's Pina Colada's. Yeah, Ben you can drop money from helicopters and throw it out the window for the reason of the month club like buying bankrupt hotel debt for Maiden lane from Bear Stearns...but you could do nothing to prevent Lehman? I would say the show is getting less and less believable by the day.
Ironically, Afghanistan is Obama's worst nightmare and some of it may be coming soon to a town near you...
If this goes on, we won’t survive, If people lose trust in the banks, there will be a revolution in the financial system. - Khalilullah Frozi
In the past bubbles have been blown by regulated schemes that are designed to encourage mal-investment, speculation, alternate realities and ultimately wealth transfer. The theory is always that there is a completely new way to ignore a problem, that previous practicality was old fashioned and not reasonable relative to the "new" alternative.
Everyone in America needed to have house, because it was a new paradigm. Under both Clinton and Bush, the financial elite used every regulatory mechanism to force feed Americans real estate and legalized nearly any scheme that would allow the concepts to funnel money to Wall Street and make the inflationary debt money expansion scheme to look like a reasonable idea.
So far, this fine administration has also come out with one scheme after the other. This is not that different from most of the administrations in recent history. However, Obama has topped the list with his crazy Wall Street support, financial and regulatory schemes.
Clearly, politicians either deliberately seek to mis-underestimate, misunderstand and mis-market schemes that are not good for their constituents but rather quite good for their buddies. The stimulus, FRE and FNM guarantees, bailout of JPMorgan, Goldlman Tax, AIG and other big banks and the absolutely disastrous healthcare plan are examples of deliberate deceptions that are not designed to benefit the people but the special interests and the subversive agenda. Ohh, I forgot to add Cap and Trade (and Tax), that's another Obama and Gore biggie.
I have discussed this issue before and its clearly a fraudulent scheme. There is no way to accurately measure or manage the tradable credits and the related products that will popup within cap and trade plan. There are lots of ways to distort and misuse the credits however and of course, the executives at JPM and Goldman Tax and Gore and Company will get quite a nice bonus for many years to come. I imagine Obama will have a corner office at any of these companies or many of them when he's out. There is no question about it, Obama (and most of the legislature too) is corrupt and his idea of "change that you can believe in" is more like "change only a few especially interested rich guys get to believe in". The rest of us have to pay for the fumblings if one wants to generously call them that. I am deeply disturbed by this president. Cap and Trade is a great example of the very same arguments applied to CDO, CMO, CDS crisis all over again. This is an example of legally regulated and created fraud and deception aimed at encouraging complacency and a false sense of security just like the FDIC, FHLN and Fed...and that has not been pretty so far...it will get a lot worse.
Any wonder how we got fractional reserve banking to be to the point that there are NO longer real requirements for collateral from the banks and turned into a derivatives based ponzi money creation scheme?
This video is a good commentary on Cap and Trade and I thought it would be good to add to this post.
Well there you have it. GM filed the IPO. Just in time for elections. Mr. Obama tried very hard...and though he has absolutely NO understanding of what he is doing or dealing with he will try to milk this for all its worth.
I would like to point out that liquidity is not abundant, and given that backdrop, the nice thing about the IPO is that GM will technically retire its debts including the ones to uncle sam. Would you buy into this scam? Would anyone with a brain buy shares of GM on this IPO? Is GM a good risk? Has management done anything to instill confidence aside from demonstrating that management is NOT committed to its plan or execution of it? One would, in my opinion have to be slightly delusional to want to buy into this IPO...possibly buyers of the KKR IPO might like this one...but those guys don't have much money left.
So, where are they going to raise this kind of money under the pretense of paying back the taxpayer?
I see only one answer that makes sense or seems plausible, off balance sheet investment firms financed with undisclosed money supplied by the Fed and therefore, ultimately the taxpayer. Bernake might aswell crack open that Maiden Lane holdings vehicle again. The only marginally positive thing about this is that the crew will try like hell to keep the markets from tanking until the last possible moment. The irony is that this whole operation is simply another expression of the same ponzi scheme designed to make it look like there is more money in the system than there actually is.
Way to go Bernake, Geithner, Summers, Obama, Dimon and Wall Street - pay off the tax payer with money from the tax payer and a few other fools you can pick up along the way. However, real payback will not be fun and this effort is fraudulent manipulation designed to influence the elections - so, good luck Washington Street...you are going to need it...the best outcome will be that the deal gets cancelled due to a weak market and that the threat of a liquidity vacuum in the equity markets created by this IPO disrupts the manipulation effort.
The chart affirms my previous statements...the 10 year treasury hit highs in 2008 on sheer panic. It has traded very technically and just broke out over a cycle - this puts it in trend mode if that 121 22/32 holds. But what the market is not reflecting is panic. What we are seeing is de-leveraging. Expect de-leveraging to continue and make market dynamics to continue to be unpredictable.
Why not rally on terrible jobs data based on clearly fraudulent/optimistically biased government statistics published at the most optimistic values possible and constantly revised downward, GDP, ISM, Jobs, Housing - you name it and the government is publishing the best numbers they can imagine and subsequently revising them down for several months or quarters thereafter. Notice they never understate any numbers and subsequently revise them upwards. The numbers are singularly too optimistic...everytime. This kind of consistent distortion has all the probabilities of 4 major banks not having a single losing trading day in 63 trading days without priority dealings involved.
The distortion is a coordinated effort. Coordinated by whom? By the same guys who think Maiden Lane Holdings portfolio of bankrupt Bear Stearns hotel assets can be marked as worth 67 billion dollars - fully 6 billion higher than the initial overstated number they say it was worth when they took the assets on. JP Morgan would have nothing to do with these assets and many of them are in receivership, yet the regulator is totally fine overstating their values...who is directing the charade? The fed of course...and Obama and congress are all beholden to these guys...
The same authenticity being applied to data is currently being applied to market prices...I mean non-market prices (not to mention OpEd pieces). It is not making things better either.
Well, I am still alive...I have been working on a very sophisticated release that is now finally in UAT mode after months and months of work. So, I have been totally overwhelmed. Additionally, there have been no market events that have played out unexpectedly so far, so not much to update there. We are still long the hedges that were put on relative to our short futures trades. I will post when we close that position and am also working on a post regarding this type of trading and its psychological basis, foundations and potential.
The market is indeed interesting here...Bonds screaming deflation. In fact, I see the Bonds Up/Sock Market up - bond/equity arb blow up as a major influence on the market dynamics right now. Correllations are either extremely tight or breaking down...these are natural symptoms of de leveraging but very unnatural to trade and difficult to accept. While all this is happening Geithner is now writing Op-Ed marketing pieces for his screenplays in the New York Times and Bernake apparently is getting into the hedge fund business properly by planning entities to purchase worthless assets and mark them fraudulently until he can figure out how to compensate for the 40% drop in the volume in money over the last year. Stimulus is creating lots of new street building projects we don't need and paying unions that we also don't need while disrupting already fragile businesses on the streets that did not really require the work to begin with. That is happening all over miami...Obama and company just get it right everytime. Good thing Obama works for Bernake...What a bunch of losers these guys are.
All interesting stuff and interesting times.
I am working a few new feature posts...so, be patient with me. One of the things that I like about trading swing systems is that you get breaks in between the trades and I have tried to use this last one to force this release into fruition. it is surprisingly difficult to concentrate fully when you have large positions on as we did in July...I was relaxed but the size of the trades was larger last month than usual which was certainly interesting. So. I apologize for my lack of posts the last few days, however, I have not had many free cycles left...and I am handicapped because I am not blessed with very many cycles to begin with. ;-)
What the main stream press and the government say and what happens or happened are often two totally different things? I wonder whether that applies to the plans regarding market intervention, Afghanistan, the oil spill or financial reform? Somehow, I don't think we have to wonder too long to figure out the answer.
Not the we did not know that Obama is a good actor...if this does not clear up who the government is working for I don't know what will...THEY ARE NOT WORKING FOR US! Do you think we need a war with Iran? Apparently, Bernake and Obama do. Two weeks before the spill Obama opens up the Gulf for drilling...this is why:
President Obama and Secretary of Interior Ken Salazar, Secretary of Energy Steven Chu, and Defense Secretary Robert Gates were informed that BP would drill an unprecedented 35,000 feet well bore at the Macondo site off the coast of Louisiana. In September 2009, the Deepwater Horizon successfully sunk a well bore at a depth of 35,055 below sea level at the Tiber Prospect in the Keathley Canyon block 102 in the Gulf of Mexico, southeast of Houston.
During the September drilling operations, the Deepwater Horizon drill penetrated a massive undersea oil deposit but BP's priorities changed when the Macondo site in the Mississippi Canyon off the coast of Louisiana was found to contain some 3-4 billion barrels of oil in an underground cavern estimated to be about the size of Mount Everest. It was as a result of another 35,000 feet well bore sank by the Deepwater Horizon at the Macondo site that the catastrophic explosion occurred on April 20.
According to the Wayne Madsen Report (WMR) sources within the U.S. Army Corps of Engineers and the Federal Emergency Management Agency (FEMA), the Pentagon and Interior and Energy Departments told the Obama Administration that the newly-discovered estimated 3-4 billion barrels of oil in the Gulf of Mexico would cover America's oil needs for up to eight months if there was a military attack on Iran that resulted in the bottling up of the Strait of Hormuz to oil tanker traffic, resulting in a cut-off of oil to the United States from the Persian Gulf.
Obama, Salazar, Chu, and Gates green-lighted the risky Macondo drilling operation from the outset, according to WMR's government sources.
WMR learned that BP was able to have several safety checks waved because of the high-level interest by the White House and Pentagon in tapping the Gulf of Mexico bonanza find in order to plan a military attack on Iran without having to be concerned about an oil and natural gas shortage from the Persian Gulf after an outbreak of hostilities with Iran.
BP still has an ongoing operation to drill down to 40,000 feet below sea level at the Liberty field off the north coast of Alaska.
The BP/US oil spill is an example of what cronyism and bad policies can do. However, we must remember that finance IS government in our world currently. The russians have just proposed a new Global Supranational currency while the fiat system is on its last legs and this ultimate coverup, no matter who it is proposed by, is simply a farce. A new debt system (or more accurately debt currency) can not be adopted now. And by design the objective of the current system is to complete a comprehensive wealth transfer from the people to the cronyists. Simply, look at Russia and the US - both shining examples of the process at work. But it has only just begun.
Here it is,” Medvedev told reporters today in L’Aquila, Italy, after a summit of the Group of Eight nations. “You can see it and touch it.”
The coin, which bears the words “unity in diversity,” was minted in Belgium and presented to the heads of G-8 delegations, Medvedev said.
The question of a supranational currency “concerns everyone now, even the mints,” Medvedev said. The test coin “means they’re getting ready. I think it’s a good sign that we understand how interdependent we are.” - July 10 (Bloomberg)
Some of the sad consequences of inappropriate financial policies are mammoth detonations. The oil spill, our banking crisis, the housing crisis, Chernobyl, various wars and the upcoming depression are all examples. I think that its important to realize exactly how delicate and frail this whole thing is. What happens when more bad decisions are made? What happens when funding is not available to maintain hazardous disaster zones? What happens if war/depression or terrorism facilitates an attack on an aging disaster like Chernobyl or other Oil Wells? Given how woefully unprepared we are for a simple Oil spill and Russia was for Chernobyl, it seems that in a depression there is considerable risk to the assumption that resources will be appropriately placed, developed or available to ensure things remain stable with the current risk elements...especially when we have CEO's and politicians worried more about their bank accounts and special interests than the responsibilities they were assigned and chose.
A friend (as well as many others or her age group in southern Germany) had her thyroid removed due to cancerous growths, most likely related to the radioactive cloud that covered europe from Chenobyl when she was 19 or so. She was not warned to stay in doors until it was much too late and no one knew or was told at the time that a second explosion was a high probability that it would have rendered the entirety or Europe uninhabitable.
The US/Western wars, imperialism and financial terrorism have, in my opinion, put us all at a significant risk if things were to get "uncomfortable" globally. This Oil Spill is a wake up call...and potentially just the tip of the iceberg of man-made or influenced disasters facilitated by our fiat system of government. I do not see our valueless currency system as a financial issue...our fiat system is a form of government, control and wealth transfer and what is happening in the markets is a form or rebellion.
I suggest that anyone of us "small people" upset with how this Oil Spill disaster was handled, look at its implications as far as how prepared or conflicted as a society we may be in other regards legacy and other issues that lie beneath the fancy rhetoric coming out of Washington, political and corporate leadership globally and the central bankers of our world.
If the global economies and currency systems fail...what happens to facilities like Chernobyl and many other high risk strategic initiatives that governments can no longer pay for or coordinate as effective managed catastrophes? Is the ever increasing US imperialism going to come to the rescue or be part of the problem?
Below is an excellent documentary on Chernobyl that everyone should see. My question is, how much have we really learned?
To be clear, a relief well will work at 200 or 400 feet...we are not talking about a secondary Oil deposit here...this is a primary global oil reserve - the same one that drives the mid-east oil cartel. How much do you want to bet that come August we hear another story about how the relief well(s) did not work. Obama and BP want to preserve access to this oil...otherwise they would have taken much more appropriate action early on. Certainly, if you happen to mistake 100,000 barrels for 1,000 barrels you can avoid calling things a catastrophe and additionally avoid actually trying to propose extreme methods to protect the environment. (FYI 1000 barrels = 55,000 gallons. presently we are spewing 5,500,000 barrels - a wee bit of a difference from the 40,000 gallons the administration and BP initially promoted) Obama, BP and the regulators were simply looking to buy time and hope for the best - "maybe the public would not notice if we lie a little" was what they were all thinking. I lump them all together. BP is a irresponsible, payola manipulator, Obama is an irresponsible manipulator and manipulatee and on the payroll, finally, the regulators work for both of these elements...who do you think they want on their side...you or them?
The Obama Administration and senior BP officials are frantically working not to stop the world’s worst oil disaster, but to hide the true extent of the actual ecological catastrophe. Senior researchers tell us that the BP drilling hit one of the oil migration channels and that the leakage could continue for years unless decisive steps are undertaken, something that seems far from the present strategy.
In a recent discussion, Vladimir Kutcherov, Professor at the Royal Institute of Technology in Sweden and the Russian State University of Oil and Gas, predicted that the present oil spill flooding the Gulf Coast shores of the United States “could go on for years and years … many years.” [1]
According to Kutcherov, a leading specialist in the theory of abiogenic deep origin of petroleum, “What BP drilled into was what we call a ‘migration channel,’ a deep fault on which hydrocarbons generated in the depth of our planet migrate to the crust and are accumulated in rocks, something like Ghawar in Saudi Arabia.”[2] Ghawar, the world’s most prolific oilfield has been producing millions of barrels daily for almost 70 years with no end in sight. According to the abiotic science, Ghawar like all elephant and giant oil and gas deposits all over the world, is located on a migration channel similar to that in the oil-rich Gulf of Mexico.
As I wrote at the time of the January 2010 Haiti earthquake disaster,[3] Haiti had been identified as having potentially huge hydrocasrbon reserves, as has neighboring Cuba. Kutcherov estimates that the entire Gulf of Mexico is one of the planet’s most abundant accessible locations to extract oil and gas, at least before the Deepwater Horizon event this April.
“In my view the heads of BP reacted with panic at the scale of the oil spewing out of the well,” Kutcherov adds. “What is inexplicable at this point is why they are trying one thing, failing, then trying a second, failing, then a third. Given the scale of the disaster they should try every conceivable option, even if it is ten, all at once in hope one works. Otherwise, this oil source could spew oil for years given the volumes coming to the surface already.” [4]
He stresses, “It is difficult to estimate how big this leakage is. There is no objective information available.” But taking into consideration information about the last BP ‘giant’ discovery in the Gulf of Mexico, the Tiber field, some six miles deep, Kutcherov agrees with Ira Leifer a researcher in the Marine Science Institute at the University of California, Santa Barbara who says the oil may be gushing out at a rate of more than 100,000 barrels a day.[5]
What the enormoity of the oil spill does is to also further discredit clearly the oil companies’ myth of “peak oil” which claims that the world is at or near the “peak” of economical oil extraction. That myth, which has been propagated in recent years by circles close to former oilman and Bush Vice President, Dick Cheney, has been effectively used by the giant oil majors to justify far higher oil prices than would be politically possible otherwise, by claiming a non-existent petroleum scarcity crisis.
Obama & BP Try to Hide
According to a report from Washington investigative journalist Wayne Madsen, “the Obama White House and British Petroleum are covering up the magnitude of the volcanic-level oil disaster in the Gulf of Mexico and working together to limit BP’s liability for damage caused by what can be called a ‘mega-disaster.’” [6] Madsen cites sources within the US Army Corps of Engineers, FEMA, and Florida Department of Environmental Protection for his assertion.
Obama and his senior White House staff, as well as Interior Secretary Salazar, are working with BP’s chief executive officer Tony Hayward on legislation that would raise the cap on liability for damage claims from those affected by the oil disaster from $75 million to $10 billion. According to informed estimates cited by Madsen, however, the disaster has a real potential cost of at least $1,000 billion ($1 trillion). That estimate would support the pessimistic assessment of Kutcherov that the spill, if not rapidly controlled, “will destroy the entire coastline of the United States.”
According to the Washington report of Madsen, BP statements that one of the leaks has been contained, are “pure public relations disinformation designed to avoid panic and demands for greater action by the Obama administration., according to FEMA and Corps of Engineers sources.” [7]
The White House has been resisting releasing any “damaging information” about the oil disaster. Coast Guard and Corps of Engineers experts estimate that if the ocean oil geyser is not stopped within 90 days, there will be irreversible damage to the marine eco-systems of the Gulf of Mexico, north Atlantic Ocean, and beyond. At best, some Corps of Engineers experts say it could take two years to cement the chasm on the floor of the Gulf of Mexico. [8]
Only after the magnitude of the disaster became evident did Obama order Homeland Security Secretary Napolitano to declare the oil disaster a “national security issue.” Although the Coast Guard and FEMA are part of her department, Napolitano’s actual reasoning for invoking national security, according to Madsen, was merely to block media coverage of the immensity of the disaster that is unfolding for the Gulf of Mexico and Atlantic Ocean and their coastlines.
The Obama administration also conspired with BP to hide the extent of the oil leak, according to the cited federal and state sources. After the oil rig exploded and sank, the government stated that 42,000 gallons per day were gushing from the seabed chasm. Five days later, the federal government upped the leakage to 210,000 gallons a day. However, submersibles monitoring the escaping oil from the Gulf seabed are viewing television pictures of what they describe as a “volcanic-like” eruption of oil.
When the Army Corps of Engineers first attempted to obtain NASA imagery of the Gulf oil slick, which is larger than is being reported by the media, it was reportedly denied the access. By chance, National Geographic managed to obtain satellite imagery shots of the extent of the disaster and posted them on their web site. Other satellite imagery reportedly being withheld by the Obama administration, shows that what lies under the gaping chasm spewing oil at an ever-alarming rate is a cavern estimated to be the size of Mount Everest. This information has been given an almost national security-level classification to keep it from the public, according to Madsen’s sources.
The Corps of Engineers and FEMA are reported to be highly critical of the lack of support for quick action after the oil disaster by the Obama White House and the US Coast Guard. Only now has the Coast Guard understood the magnitude of the disaster, dispatching nearly 70 vessels to the affected area. Under the loose regulatory measures implemented by the Bush-Cheney Administration, the US Interior Department’s Minerals Management Service became a simple “rubber stamp,” approving whatever the oil companies wanted in terms of safety precautions that could have averted such a disaster. Madsen describes a state of “criminal collusion” between Cheney’s former firm, Halliburton, and the Interior Department’s MMS, and that the potential for similar disasters exists with the other 30,000 off-shore rigs that use the same shut-off valves. [9]
Silence from Eco groups?... Follow the money
Without doubt at this point we are in the midst of what could be the greatest ecological catastrophe in history. The oil platform explosion took place almost within the current loop where the Gulf Stream originates. This has huge ecological and climatological consequences.
A cursory look at a map of the Gulf Stream shows that the oil is not just going to cover the beaches in the Gulf, it will spread to the Atlantic coasts up through North Carolina then on to the North Sea and Iceland. And beyond the damage to the beaches, sea life and water supplies, the Gulf stream has a very distinct chemistry, composition (marine organisms), density, temperature. What happens if the oil and the dispersants and all the toxic compounds they create actually change the nature of the Gulf Stream? No one can rule out potential changes including changes in the path of the Gulf Stream, and even small changes could have huge impacts. Europe, including England, is not an icy wasteland due to the warming from the Gulf Stream.
Yet there is a deafening silence from the very environmental organizations which ought to be at the barricades demanding that BP, the US Government and others act decisively.
That deafening silence of leading green or ecology organizations such as Greenpeace, Nature Conservancy, Sierra Club and others may well be tied to a money trail that leads right back to the oil industry, notably to BP. Leading environmental organizations have gotten significant financial payoffs in recent years from BP in order that the oil company could remake itself with an “environment-friendly face,” as in “beyond petroleum” the company’s new branding.
The Nature Conservancy, described as “the world’s most powerful environmental group,”[10] has awarded BP a seat on its International Leadership Council after the oil company gave the organization more than $10 million in recent years. [11]
Until recently, the Conservancy and other environmental groups worked with BP in a coalition that lobbied Congress on climate-change issues. An employee of BP Exploration serves as an unpaid Conservancy trustee in Alaska. In addition, according to a recent report published by the Washington Post, Conservation International, another environmental group, has accepted $2 million in donations from BP and worked with the company on a number of projects, including one examining oil-extraction methods. From 2000 to 2006, John Browne, then BP's chief executive, sat on the CI board.
Further, The Environmental Defense Fund, another influential ecologist organization, joined with BP, Shell and other major corporations to form a Partnership for Climate Action, to promote ‘market-based mechanisms’ (sic) to reduce greenhouse gas emissions.
Environmental non-profit groups that have accepted donations from or joined in projects with BP include Nature Conservancy, Conservation International, Environmental Defense Fund, Sierra Club and Audubon. That could explain why the political outcry to date for decisive action in the Gulf has been so muted. [12]
Of course those organizations are not going to be the ones to solve this catastrophe. The central point at this point is who is prepared to put the urgently demanded federal and international scientific resources into solving this crisis. Further actions of the likes of that from the Obama White House to date or from BP can only lead to the conclusion that some very powerful people want this debacle to continue. The next weeks will be critical to that assessment.
first it was 1,000 barrels, then 5,000, then 12,000, then 20,000, 40,000 and now 60,000. Who are they kidding? Please recall the guy who I pointed out testified in the beginning of May that it was 95,000 barrels - we never heard from that guy again and he got NO press coverage.
Initially, you may recall, the US Coast Guard and BP told the public that they weren’t certain any oil was flowing from the Deepwater Horizon disaster.
Then it was updated to an estimated 1,000 barrels a day.
Then 5,000 barrels a day – which is when everyone sat up and started paying attention.
Last week federal scientists updated the estimated flow rate to anywhere from 25,000 to 40,000 barrels a day.
Today, based on updated information and scientific assessments, the new rate is estimated is between 35,000 and 60,000 barrels per day.
The new flow rate was announced by Secretary of Energy Steven Chu, Secretary of the Interior Ken Salazar, and Chair of the National Incident Command’s Flow Rate Technical Group Dr. Marcia McNutt
The team assures the public that “BP was required to develop projects containment capacity expanding to 40,000-53,000 barrels per day by the end of June and 60,000-80,000 barrels per day by mid-July.” White House officials have voiced confidence in the ability to contain those flow rates on that timetable.
Scientists studying how much crude BP PLC's blown oil well has poured into the Gulf of Mexico offered startlingly higher estimates Thursday than those noted earlier, perhaps topping 40,000 barrels a day.
June 6, 2010 - New York Times
Government estimates put the daily flow rate at 12,000 to 19,000 barrels (or 840,000 to 798,000 gallons).
May 29, 2010 - m3 Financial Analysis
Maybe the US press can continue to promote the 5,000 barrels a day theory regarding our oil spill while suppressing professional testimony several weeks ago that suggests its more like 95,000 barrels a day. I wonder how many other facts are being managed...
May 21, 2010 - m3 Financial Analysis /The Real News
Two weeks ago, the government put out a round estimate of the size of the oil leak in the Gulf of Mexico: 5,000 barrels a day.
The figure of 5,000 barrels a day was hastily produced by government scientists in Seattle.
May 2010 - BP, General Media and Government
The flow rate at about 5,000 barrels, or 210,000 gallons, a day.
The reality just like Bernake and Obama etal think that by stretching lies out over an extended period of time they create a manageable lie and people do not notice...well, that is the approach with the BP distaster and not just from BP but with the specific assistance and manipulation of the media by the special interests and government...does this remind you of anything?
Obama loves the Fed and Benake...as I said before government in general has been bought and paid by the Fed and their cronies. Please see my previous post on the subject: Votes for sale
That's the basis for this oil spill. Five weeks ago Obama was Mr. "We need drilling in the Gulf" guy now he's Mr. TarBall. How many more lies does our bought and paid for president want to spew?
An open letter regarding Obama's most recent achievements...
Additionally to saving american business "3000%" as Obama repeated...I can only see companies writing down $1 billion here $150 million there, $100 million over there...Somehow, I do not think that is going to create jobs or improve healthcare.
These guys [Politicians and regulators] are liars and they are stealing from us to pay the banks...no wonder the Fed/Treasury is responsible for overseeing the Healthcare reforms. They can't regulate banks, only steal from and lie to American's and now that's not enough.
If we ever needed an excuse for a national ID card this is it.
Wowza!!!
Senator Bayh,
As a practicing physician I have major concerns with the healthcare bill before Congress. I actually have read the bill and am shocked by the brazenness of the government's proposed involvement in the patient physician relationship. The very idea that the government will dictate and ration patient care is dangerous and certainly not helpful in designing a healthcare system that works for all. Every physician I work with agrees that we need to fix our healthcare system, but the proposed bills currently making their way through congress will be a disaster if passed.
I ask you respectfully and as a patriotic American to look at the following troubling lines that I have read in the bill. You cannot possibly believe that these proposals are in the best interests of the country and our fellow citizens.
Page 22 of the HC Bill: Mandates that the Govt will audit books of all employers that self insure!!
Page 30 Sec 123 of HC bill - THERE WILL BE A GOVT COMMITTEE that decides what treatments/benefits you get.
Page 29 lines 4-16 in the HC bill: YOUR HEALTH CARE IS RATIONED!!!
Page 42 of HC Bill:The Health Choices Commissioner will choose your HC Benefits for you. You have no choice!
Page 50 Section 152 in HC bill: HC will be provided to ALL non US citizens, illegal or otherwise
Page 58 HC Bill: Govt will have real-time access to individuals finances & a National ID Healthcard will be issued!
Page 59 HC Bill lines 21-24: Govt will have direct access to you ur banks accounts for elective funds transfer.
Page 65 Sec 164: is a payoff subsidized plan for retirees and their families in Unions & community organizations: (ACORN).
Page 84 Sec 203 HC bill: Govt mandates ALL benefit packages for private HC plans in the Exchange.
Page 85 Line 7 HC Bill: Specifications for of Benefit Levels for Plans = The Govt will ration your Healthcare!
Page 91 Lines 4-7 HC Bill: Govt mandates linguistic appropriate services. Example - Translation: illegal aliens.
Page 95 HC Bill Lines 8-18: The Govt will use groups i.e., ACORN & Americorps to sign up individuals for Govt HC plan.
Page 85 Line 7 HC Bill: Specifications of Benefit Levels for Plans. AARP members - your Health care WILL be rationed.
Page 102 Lines 12-18 HC Bill: Medicaid Eligible Individuals will be automatically enrolled in Medicaid. No choice.
Page 124 lines 24-25 HC: No company can sue GOVT on price fixing. No ! "judicia l review" against Govt Monopoly.
Page 127 Lines 1-16 HC Bill: Doctors/ American Medical Association - The Govt will tell YOU what you can make! (salary)
Page 145 Line 15-17: An Employer MUST auto enroll employees into public option plan. NO CHOICE!
Page 126 Lines 22-25: Employers MUST pay for HC for part time employees AND their families.
Page 149 Lines 16-24: ANY Employer with payroll 401k & above who does not provide public option pays 8% tax on all payroll.
Page 150 Lines 9-13: Business's with payroll btw 251k & 401k who doesn't provide public option pays 2-6% tax on all payroll.
Page 167 Lines 18-23: ANY individual who doesn't have acceptable HC according to Govt will be taxed 2.5% of income.
Page 170 Lines 1-3 HC Bill: Any NONRESIDENT Alien is exempt from individual taxes. (Americans will pay)
Page 195 HC Bill: Officers & employees of HC Admin (GOVT) will have access to ALL Americans finances /personal records.
Page 203 Line 14-15 HC: "The tax imposed under this section shall not be treated as tax" Yes, it says that!
Page 239 Line 14-24 HC Bill: Govt will reduce physician services for Medicaid Seniors, low income and poor are affected.
Page 241 Line 6-8 HC Bill: Doctors, doesn't matter what specialty you have, you'll all be paid the same!
Page 25! 3 Line 1 0-18: Govt sets value of Doctor's time, proffession, judgment etc. Literally value of humans.
Page 265 Sec 1131: Govt mandates & controls productivity for private HC industries.
Page 268 Sec 1141: Federal Govt regulates rental & purchase of power driven wheelchairs.
Page 272 SEC. 1145: TREATMENT OF CERTAIN CANCER HOSPITALS - Cancer patients - welcome to rationing!
Page 280 Sec 1151: The Govt will penalize hospitals for whatever Govt deems preventable re-admissions.
Page 298 Lines 9-11: Doctors, treat a patient during initial admission that results in a re-admission -Govt will penalize you.
Page 317 L 13-20: PROHIBITION on ownership/investment. Govt tells Doctors what/how much they can own!
Page 317-318 lines 21-25, 1-3: PROHIBITION on expansion- Govt is mandating hospitals cannot expand.
Page 321 2-13: Hospitals have opportunity to apply for exception BUT community input is required. Can u say ACORN?!!
Page 335 L 16-25 Pg 336-339: Govt mandates establishment of outcome based measures. HC the way they want. Rationing.
Page 341 Lines 3-9: Govt has authority to disqualify Medicare Advance Plans, HMOs, etc. Forcing people into Govt plan.
Page 354 Sec 1177: Govt will RESTRICT enrollment of Special needs people! Unbelievable!
Page 379 Sec 1191: Govt creates mor! e bureau cracy - Tele-health Advisory Comittee. Can you say HC by phone?
Page 425 Lines 4-12: Govt mandates Advance Care Planning Consult. Think Senior Citizens end of life patients.
Page 425 Lines 17-19: Govt will instruct & consult regarding living wills, durable powers of attorney. Mandatory!
Page 425 Lines 22-25, 426 Lines 1-3: Govt provides approved list of end of life resources, guiding you in death. (assisted suicide)
Page 427 Lines 15-24: Govt mandates program for orders for end of life. The Govt has a say in how your life ends.
Page 429 Lines 1-9: An "advanced care planning consultant" will be used frequently as patients health deteriorates.
Page 429 Lines 10-12: "advanced care consultation" may include an ORDER for end of life plans. AN ORDER from GOVT!
Page 429 Lines 13-25: The govt will specify which Doctors can write an end of life order.
Page 430 Lines 11-15: The Govt will decide what level of treatment you will have at end of life!
Page 469: Community Based Home Medical Services = Non profit organizations. Hello, ACORN Medical Services here!!?
Page 472 Lines 14-17: PAYMENT TO COMMUNITY-BASED ORIGINATION. 1 monthly payment 2 a community-based organization. Like ACORN?
Page 489 Sec 1308: The Govt will cover Marriage & Family therapy. Which means they will insert Govt into your marriage.
Page 494-498: Govt will cover Mental Health Services including defining, creating, rationing those services.
Senator, I guarantee that I personally will do everything possible to inform patients and my fellow physicians about the dangers of the proposed bills you and your colleagues are debating.
Furthermore, If you vote for a bill that enforces socialized medicine on the country and destroys the doctor/patient relationship, I will do everything in my power to make sure you lose your job in the next election.
I use Multicharts Charting and Backtesting Software.
I post high resolution charts made with Multicharts and Adobe Illustrator. Click on chart for a more detailled view.
If you do wish to contact me or have any questions you can do so at m3analytics@gmail.com
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