Archive for October, 2009
Oil States Say No Talks on Replacing Dollar
October 6th, 2009“America and Britain must be very worried. You will know how worried by the thunder of denials this news will generate.” —Robert Fisk’s Chinese Banking Source That didn’t take long. Via: Reuters: Big oil producing nations denied a British newspaper report on Tuesday that Gulf Arab states were in secret talks with Russia, China, Japan […]
France Decides to Become a World Leader in Electric Vehicles
October 6th, 2009Here’s some very necessary context for this story: Nuclear power in France. Via: AFP: France launched the “battle of the electric car” Thursday as it unveiled plans to invest 1.5 billion euros on infrastructure for the two million electric and hybrid cars it wants on the road by 2020. “No player can take the risk […]
Watching Gold: ALL TIME HIGH $1035
October 6th, 2009WARNING: This is not a recommendation to buy, sell or hold any financial instrument. UPDATE 2: 10/6/2009 – 01:05GMT: INTRADAY PRINTS $1035 All time high. —End Update— UPDATE 1: 10/6/2009 – 12:25GMT: $1030 —End Update— Brief heads up: Gold may be about to retest the all time high at $1032. Spot is trading around $1023 […]
The Strange World of High End Real Estate in Southern California
October 6th, 2009Via: Los Angeles Times: As spec mansions lie unsold across Southern California, stressed sellers may deflate the housing market’s high end by lowering their prices. Two years ago, Larry Igarashi bet he could build a sprawling house in Orange County’s foothills that would sell for at least $10 million. These days, you can easily guess […]
Fisk: Arab States, China, Russia and France Moving to Stop Using U.S. Dollar for Oil Trading
October 6th, 2009WARNING: This is not a recommendation to buy, sell or hold any financial instrument. I have absolutely no doubt that the Chinese are aware of their ability to flip the kill switch on the U.S. economy. I also have no doubt that, while the blowback would be severe for them, it would be nothing compared […]
Green Shoots: Personal Bankruptcies Hit 4-Year High
October 5th, 2009Via: CNN: Mounting unemployment and housing crisis push the filings to the highest level since 2005. Personal bankruptcies topped the 1 million mark in the first nine months of the year, the first time it has done so in four years, according to an industry research firm released Friday. The personal bankruptcies were up 35% […]
Afghanistan: Massive Election Fraud
October 5th, 2009“This was an important step forward in the Afghan people’s effort to take control of their future… The United States did not support any candidate in this election. Our only interest was the result fairly, accurately reflecting the will of the Afghan people…” —Barack Obama on Afghan Election Via: Times Online: The head of the […]
Goldman Sachs Would Make $1 Billion from CIT Failure; U.S. Taxpayer Would Pay $2.3 Billion
October 5th, 2009Via: Financial Times: Goldman Sachs stands to receive a payment of $1bn – while US taxpayers would lose $2.3bn – if embattled commercial lender CIT files for Chapter 11 bankruptcy protection, people familiar with the matter said. The payment stems from the structure of a $3bn rescue finance package that Goldman extended to CIT on […]
NY Man Accused of Tweeting Cop Actions at Protests
October 5th, 2009Via: AP: A self-described New York City anarchist has been accused of tweeting the location of police officers to protesters trying to evade them during the Group of 20 economic summit in Pittsburgh. Elliot Madison, 41, described by his lawyer as a social worker and political activist, was arrested on charges including hindering prosecution for […]
Canada: Roman Catholic Bishop Faces Charges of Possessing and Importing Child Pornography
October 5th, 2009Everyone is in shock? Translation from Catholic Church gibberish into English: Nobody, who has been paying any attention to the astonishing crimes of Catholic Church, is shocked by this. Via: CBC: Bishop Raymond Lahey was released on $9,000 bail after turning himself in to Ottawa police on Thursday afternoon to face charges of possessing and […]
