Archive for July, 2008
British Kids Encouraged to Become “Climate Cops”
July 29th, 2008Via: Prison Planet: A leading British energy company blitzed the newspapers with full page colour advertisements this weekend which encourage children to sign up as “climate cops” and keep “climate crime case files” on their families, friends and neighbours. The ads, run by Npower, promote a website at www.climatecops.com where “trainees” must complete three missions […]
Eye Scans, Fingerprints to Control NZ Borders
July 29th, 2008Mmm hmm. See: US, UK, Australia, Canada and New Zealand Building Biometric Database. Via: Stuff: Border control staff will be able to use iris scans and finger printing to check passengers’ identities under major changes to New Zealand immigration rules. Despite criticism from Amnesty International at the level of secrecy permitted, the changes look set […]
MERRILL LYNCH DUMPING CDOs ONCE WORTH $30.6 BILLION FOR 22 CENTS ON THE DOLLAR
July 29th, 2008It looks like the race is on to try to mark this crap down to the point where some hedge fund buys it for pennies on the dollar. This race started when National Australia Bank bank tapped the mat and wrote off 90% of its U.S. AAA rated debt. When that happened, all the firms […]
Fierce Fighting Along India-Pakistan Border
July 29th, 2008Why is this border skirmish worth noting? Both belligerents are nuclear powers. Via: AP: India said Monday that Pakistani troops crossed into its part of the disputed Himalayan region of Kashmir and opened fire. Indian troops returned fire, and at least four soldiers were killed. Indian army spokesman Brig. Gopala Krishnan Murali called the attack […]
Something or Nothing? Heavy Buying of Deep Out of the Money Call Options on Year End Gold
July 29th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. The last sentence of this piece should be the first sentence: “The option market is so black-boxed that you don’t even know why they are doing things.” So, just in case people get any ideas about running out to buy, sell […]
FEDERAL BUDGET DEFICIT FOR NEXT YEAR WILL APPROACH $490 BILLION
July 28th, 2008Via: AP: A Bush administration official said Monday the next administration will inherit a record federal budget deficit for next year that approaches $490 billion. The official said the deficit was being driven to record levels by the sagging economy and the stimulus payments being made to 130 million households in an effort to keep […]
Worried Banks Sharply Reduce Business Loans
July 28th, 2008Via: New York Times: Banks struggling to recover from multibillion-dollar losses on real estate are curtailing loans to American businesses, depriving even healthy companies of money for expansion and hiring. Two vital forms of credit used by companies — commercial and industrial loans from banks, and short-term “commercial paper” not backed by collateral — collectively […]
Cryptogon Readers Send Contributions
July 28th, 2008I apologize for being slow to acknowledge these contributions. Thank you. Eileen $80 JL $150 EM $7 HR $25 DG $10 Solus $25 SW ¥2,000 (First ever contribution in Japanese Yen!) RG $20 MW $10 CW $15 MW $20 WK $10 CP $15 ROIQ $25 JC €10 CA $25
Dutch Firm Charged in Oil Price Manipulation Case
July 28th, 2008Mike writes: Kevin, I’m surprised that you haven’t done a post about this oil price manipulation case, since you were warning us about this long ago: U.S. regulators charge Dutch firm with oil-price manipulation What’s up? Mike, in a short, this is noise level, insignificant activity. All firms who trade their own accounts do this […]
Milk It: Fonterra Dairy Exports Rise to Quarter of New Zealand’s National Total
July 28th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instruments. If you’re holding NZD, know that the scheme relies heavily on two factors: 1) The price of milk. Milk solids, actually. That’s right. If milk solids tank, watch out. 2) Japanese carry trade investors. High dairy prices are part of the […]
