Archive for March, 2008
Dollar Whip Sawed Back Down; Record Low
March 12th, 2008Via: Bloomberg: The dollar fell to an all-time low against the euro on concern that the Federal Reserve’s plan to provide funds to banks won’t be enough to break the gridlock in money-market lending and stem credit losses. An index tracking the dollar against six major currencies fell close to a record low as traders […]
U.S. Corn Biofuels Will Expand Gulf of Mexico ‘Dead Zone’
March 12th, 2008I’m finished with posting Corn-Ethanol-Is-Stupid stories. The only people who think it’s a good idea are the corn industrial complex interests and the corrupt politicians who accept the payola. Enough already. Via: AFP: A planned increase in US ethanol production from corn would spell environmental “disaster” for marine species in the Gulf of Mexico, said […]
Brazil: Women Destroy GE Crops
March 12th, 2008Nice work, ladies. Via: AFP: Around 300 women rural residents in Brazil burst into a property owned by the US company Monsanto and destroyed a plant nursery and crops containing genetically modified corn, their organization said. The women were protesting what they saw as environmental damage by the crops. They trashed the plants within 30 […]
Cryptogon Reader Contributes $50
March 12th, 2008Eileen sent $50. (She sent another $50 to Farmlet.) Thank you.
Top British Police Investigator Who Headed Inquiry Into CIA Torture Flights Found Dead at Bottom of Cliff
March 12th, 2008Via: AP: A city police chief who led an investigation into charges that Britain cooperated with secret CIA flights to transport terrorism suspects without formal proceedings has been found dead, his deputy said Tuesday. Manchester Chief Constable Michael Todd, 50, was found dead in Snowdonia, about 240 miles northwest of London, Deputy Chief Constable Dave […]
Fallon Resigns as Mideast Military Chief
March 12th, 2008Fallon, you’ll remember, is probably the main reason why Bush has not been able to start a war with Iran. Interesting coincidence, how oil broke out higher in the last several days preceding this news. Via: AP: The Navy admiral in charge of the wars in Iraq and Afghanistan announced Tuesday that he is resigning […]
UK: Pupils to Take Allegiance Oath
March 11th, 2008Set the crack pipe down, Gordon. You’re embarrassing yourself. Via: BBC: School-leavers should be encouraged to swear an oath of allegiance to Queen and country, says a report commissioned by Gordon Brown on British citizenship. Report author, ex-attorney general Lord Goldsmith, says it would give teenagers a sense of belonging. Council tax and student fee […]
FED ALLOWING INSTITUTIONS TO ACQUIRE NEW, PUBLICLY BACKED TREASURY SECURITIES BY USING MORTGAGE BACKED SECURITIES AS COLLATERAL
March 11th, 2008How many chainsaws can the jugglers keep in the air at once? This is just creating another chunk of publicly backed credit to enter into a balance sheet while the toxic waste (now being referred to as “collateral”) smolders away at the Fed. In other words, the Fed is about to became the buyer for […]
Derivatives Have Become the World’s Biggest Black Market
March 11th, 2008Via: Marketwatch: The fact is, derivatives have become the world’s biggest “black market,” exceeding the illicit traffic in stuff like arms, drugs, alcohol, gambling, cigarettes, stolen art and pirated movies. Why? Because like all black markets, derivatives are a perfect way of getting rich while avoiding taxes and government regulations. And in today’s slowdown, plus […]
BMW Outsourcing Production to the U.S.
March 11th, 2008I wonder… Is the U.S. plan to pay back the trillions of dollars it owes to creditors with dollars that are worth, say, several cents on the original value of the dollars borrowed? Via: BBC: The luxury carmaker BMW has announced it will invest $750m (£373m) as part of plans to increase production in the […]
