Sinking in a Swamp Full of Blackwater

October 4th, 2007

Via: New York Times:

“He who fights with monsters might take care lest he thereby become a monster,” Nietzsche said. “And if you gaze for long into an abyss, the abyss gazes also into you.”

We’re gazing into the abyss all right, and Blackwater is gazing back.

Besides having an army for hire, brave kids who are paid to fight so that most Americans are not personally touched by war, we have the real mercenaries. And they’re a spooky cadre, careening outside the laws of Iraq, the United States and the military.

President Bush continues to preach that we must defeat the “dark ideology” of extremists with “a more hopeful vision.”

But the compromises W. makes to slog on in Iraq, be it with warlords, dictators or out-of-control contractors, are spreading a dark stain on America’s image.

“Blackwater appears to have fostered a culture of shoot first and sometimes kill, and then ask the questions,” said Representative Elijah Cummings, a Democrat, yesterday at a House hearing.

The Times reports today that Blackwater’s explanation of an incident in Baghdad on Sept. 16 that left 17 dead and 24 wounded is sketchy.

It seems as though a bullet struck an Iraqi man driving his mother to pick up his father, a pathologist, at the hospital. The dead man’s weight, The Times reports, “probably remained on the accelerator and propelled the car forward” toward a Blackwater convoy.

Blackwater guards then unleashed a spray of gunfire and explosives, even though witnesses did not see anyone shooting at the American convoy and even though Iraqis were turning their cars around and escaping the scene.

Newsweek quotes the Iraqi national police as saying that Blackwater vehicles “opened fire crazily and randomly, without any reason.”

The Blackwater desperados are a sinister symbol of how little progress we’ve made in Iraq, that V.I.P.’s — or “packages,” as the contractors call them — can’t make a move in the country without the high-priced hired guns of the State Department.

Americans have been antimercenary since the British sent 30,000 German Hessians after George Washington in the Revolutionary War.

But W. outsourced his presidency to Cheney and Rummy, and Cheney and Rummy went to war on the cheap and outsourced large chunks of the Iraq occupation to Halliburton and Blackwater. The American taxpayer got gouged, and so did the American reputation.

…

Once there was the military-industrial complex. Now we have the mercenary-evangelical complex.


Europe Urges U.S. to Curb Fall of Dollar

October 3rd, 2007

Via: International Herald Tribune:

The chief political spokesman for the euro has added his voice to demands for the United States to make a greater effort to curb the dollar’s strong fall – presaging tense times at the Group of 7 meeting this month in Washington.

Jean-Claude Juncker, who heads the group of finance ministers from the 13-nation euro zone, criticized the perceived indifference in Washington toward U.S. policies – including trade and budget deficits – that most economists believe are contributing to the intense downward pressure on the dollar.

“Europe cannot be the area of the world’s economy that will bear the consequences of others’ inaction,” Juncker said late Monday, Reuters reported.

The statement from Juncker, who generally avoids speaking about exchange rates, represented the strongest evidence to date that European discomfort with the euro was spreading beyond France, where complaints about the euro’s strength have increased since the election of President Nicolas Sarkozy.

Juncker’s remarks helped break an eight-day streak of records for the euro, which peaked at nearly $1.43 late Monday in New York, but closed Tuesday at $1.415.

Nevertheless, there is rising frustration in Europe about the lack of effective tools for slowing the euro’s appreciation, which could eventually hamper economic growth by making European exports – a vital ingredient in the current recovery – more expensive to customers outside the euro zone.


TOPOFF: Largest Terror Exercise in U.S. History

October 3rd, 2007

Via: AP:

The nation is preparing for its biggest terrorism exercise ever next week when three fictional “dirty bombs” go off and cripple transportation arteries in two major U.S. cities and Guam, according to a document obtained by The Associated Press.

Yet even as this drill begins, details from the previous national exercise held in 2005 have yet to be publicly released – information that’s supposed to help officials prepare for the next real attack.

House lawmakers were expected to demand answers Wednesday, including why the “after-action” report from 2005 hasn’t been made public. Congress has required the exercise since 2000, but has done little in the way of oversight beyond attending the actual events.

Next week will be the fourth Top Officials exercise – dubbed TOPOFF. The program costs about $25 million a year and involves the federal government’s highest officials, such as top people from the Defense and Homeland Security departments.

“The challenge with TOPOFF is not the exercise itself. It’s to move as quickly as possible to remedy what perceives to be the problems that are uncovered,” former Homeland Security Secretary Tom Ridge said in an interview with AP this week.

Ridge, who launched his own security consulting company on Monday, said he’s a big fan of the TOPOFF exercises. But he said “it’s not acceptable” that the review from the 2005 exercise is still not released publicly.

The House Homeland Security emergency communications, preparedness and response subcommittee was holding a hearing Wednesday on the terrorism exercise program.

This year’s TOPOFF will build on lessons learned from previous exercises, according to the Homeland Security Department, which runs the program. The agency said the Oct. 15-19 exercise would be “the largest and most comprehensive” to date.

According to an internal department briefing of next week’s exercise obtained by AP, a dirty bomb will go off at a Cabras power plant in Guam; another dirty bomb will explode on the Steel Bridge in Portland, Ore., impacting major transportation systems, and a third dirty bomb will explode at the intersection of busy routes 101 and 202 near Phoenix.

Local hospitals and law enforcement agencies will be involved in the “attacks” by the dirty bombs, which are conventional explosives that include some radioactive material that would cause contamination over a limited area but not create actual nuclear explosions.

“Lessons learned from the exercise will provide valuable insights to guide future planning for securing the nation against terrorist attacks, disasters and other emergencies,” according to the department’s Web site.

The after action report from TOPOFF 3, which deals with issues that came up in the 2005 exercise, is supposed to identify areas for improvement. That report is still going through internal reviews.


Blackwater Mercenary Wrote Government Report on Massacre

October 3rd, 2007

Via: CNN:

The State Department’s initial report of last month’s incident in which Blackwater guards were accused of killing Iraqi civilians was written by a Blackwater contractor working in the embassy security detail, according to government and industry sources.

A source involved in diplomatic security at the U.S. Embassy in Baghdad said a Blackwater contractor, Darren Hanner, drafted the two-page “spot report” on the letterhead of the Bureau of Diplomatic Security for the embassy’s Tactical Operations Center.

That office — which tracks and monitors all incidents and movements involving diplomatic security missions — has outsourced positions to Blackwater and another private firm, the embassy source said.

A highly placed industry source said that Hanner, who was listed on the report as the TOC watch officer, was working for Blackwater at the time the report was written, just after the September 16 incident occurred. He was to rotate out of Iraq this past week, the source said.

The man who approved the report was Ricardo Colon, whom the embassy source identified as the embassy’s deputy regional security officer. A State Department source confirmed a Ricardo Colon Cifredo works for the State Department in Iraq.


Catch a Falling Knife: Weak Dollar Prompts Record Foreign Buyouts of U.S. Companies

October 3rd, 2007

As long as greater fools keep showing up to the party, the band will play on.

Via: International Herald Tribune:

European, Asian and Canadian companies are taking advantage of the weaker dollar to buy their U.S. counterparts at a record pace, increasing investment in the United States but also raising fears about a potential loss of jobs and autonomy.

“We could be looking at the world’s largest tag sale if we continue to see declines in the dollar,” said Donald Klepper-Smith, chief economist at DataCore Partners.

In the latest large deal aided by a weak dollar, Commerce Bancorp, which is based in Cherry Hill, New Jersey, agreed Tuesday to be acquired by Toronto-Dominion Bank of Canada in a cash-and-shares deal valued at $8.5 billion.

Nationally, the value of purchases of companies by non-U.S. buyers so far this year totaled $257.4 billion – more than in any full year since 2000, the height of the technology boom, according to Thomson Financial, a research firm in New York.

The buyouts are sparking anxiety in the United States, though their impact is complex. Foreign owners typically use acquisitions as an entry into the U.S. market and thus may be more willing than American buyers to invest in their new holdings, some economists say. But the risk is that they might also be quicker to cut back or consolidate U.S. operations when times get tough.

“Quite naturally, foreign companies want to play in this market,” said Alan Tonelson, a research fellow at the U.S. Business and Industry Council, a trade group for small and midsize manufacturers. “They want leading-edge technology, and the United States is still the technology leader. But when they buy these companies, they’re acquiring control over the most dynamic pieces of the American economy, and they’re acquiring control over America’s future.”

Corporate deals are just one way the dollar’s falling value is having an impact. The weaker dollar has also drawn European, Asian and Canadian tourists, made it more expensive for Americans to travel abroad, and bolstered the exports of U.S. companies that sell high-technology equipment or medical gear overseas. But foreign acquisitions could become the sagging dollar’s most lasting legacy.


Gold Down as Traders Lock in Profits After Record Highs

October 3rd, 2007

WARNING: This is not a recommendation to buy, sell or hold any financial instrument.

“Use extreme caution if considering adding to long gold positions in the near term. There is a strong possibility of a pullback. If you are looking to lock in profits, tighten stops, or consider a stop target of $738. Consider long entries under $738 but over $721. Under $721, consider long accumulation using range strategies.”

—Cryptogon, September 29th, 2007

Thank you. I’ll be here all week. Tip your waitress.

I also wrote, “But how close to $721?”

$724 was the answer.

Now, who was buying this morning, besides me, on that 2 hour stochastic cross under 20 with multiple clusters of support at around $727, $724 and $721?

Other things I like: 1 hour MACD cross up, histogram slope positive, above zero line; 1 hour stochastics emerge from oversold…

“But, Kevin, look at the daily stochastics!”

Yes, grasshopper, and look at the weekly stochastics! Eek! While those are worrying, there are several supports intact on the hour chart. It was worth rolling the dice on a few grams with the strategic $721 level intact.

Now, looking at the weekly chart, it’s one of two things:

1) Either gold has reached a new baseline over the $714 to $721 zone, and that weekly ascending triangle is going to blast above $750

2) Or, new gold longs could be in for a good, old fashioned decapitation

The weekly MACD is looking good, the supports are looking good, but that stochastic is threatening to cross around 91… You wouldn’t want to see a full oscillation down on that thing, sending the price down through $721.

Let me consult my Magic 8 Ball.

Ahh yes… It’s saying to believe in the power of the weekly ascending triangle, but to watch out below $721.

But if it does break down, * pfft! * I’ll get to buy more lower.

Via: CNN:

Gold continued lower into the afternoon, falling by nearly 3 pct at one point, as the profit-taking bout extended itself amid a sustained rebound in the dollar.

‘The inevitable finally happened (today) … as contrarians put their money where they had put their words for the last two weeks, and sold this gold market fairly heavily,’ said Kitco analyst Jon Nadler.

But he added that the key question is whether or not today’s lapse is the start of a reversal for gold, or just a temporary blip in the strong upward ascent.


Maxed Out

October 2nd, 2007

America is not only far from the world’s wealthiest nation; it is crumbling beneath a staggering burden of individual and government debt. Maxed Out takes us on a journey deep inside the American debt-style, where everything seems okay as long as the minimum monthly payment arrives on time. Sure, most of us may have that sinking feeling that something isn’t quite right, but we’re told not to worry. After all, there’s always more credit! Maxed Out shows how the modern financial industry really works, explains the true definition of “preferred customer” and tells us why the poor are getting poorer and the rich getting richer. By turns hilarious and profoundly disturbing, Maxed Out paints a picture of a national nightmare which is all too real for most of us.


UK: More Big Brother Phone Surveillance

October 2nd, 2007

Via: Daily Mail:

Officials from the top of Government to lowly council officers will be given unprecedented powers to access details of every phone call in Britain under laws coming into force tomorrow.

The new rules compel phone companies to retain information, however private, about all landline and mobile calls, and make them available to some 795 public bodies and quangos.

The move, enacted by the personal decree of Home Secretary Jacqui Smith, will give police and security services a right they have long demanded: to delve at will into the phone records of British citizens and businesses.

But the same powers will also be handed to the tax authorities, 475 local councils, and a host of other organisations, including the Food Standards Agency, the Department of Health, the Immigration Service, the Gaming Board and the Charity Commission. The initiative, formulated in the wake of the Madrid and London terrorist attacks

of 2004 and 2005, was put forward as a vital tool in the fight against terrorism. However, civil liberties campaigners say the new powers amount to a ‘free for all’ for the State snooping on its citizens.

And they angrily questioned why the records were being made available to so many organisations. Similar provisions are being brought in across Europe, but under much tighter regulation. In Britain, say critics, private and sensitive information will inevitably fall into the wrong hands.

Records will detail precisely what calls are made, their time and duration, and the name and address of the registered user of the phone.

The files will even reveal where people are when they made mobile phone calls. By knowing which mast transmitted the signal, officials will be able to pinpoint the source of a call to within a few feet. This can even be used to track someone’s route if, for example, they make a call from a moving car.

Files will also be kept on the sending and receipt of text messages.

By 2009 the Government plans to extend the rules to cover internet use: the websites we have visited, the people we have emailed and phone calls made over the net.

Research Credit: WS


Burma: Thousands of Executed Protesters Dumped in Jungle

October 2nd, 2007

Via: This Is London:

Thousands of protesters are dead and the bodies of hundreds of executed monks have been dumped in the jungle, a former intelligence officer for Burma’s ruling junta has revealed.

The most senior official to defect so far, Hla Win, said: “Many more people have been killed in recent days than you’ve heard about. The bodies can be counted in several thousand.”

Mr Win, who spoke out as a Swedish diplomat predicted that the revolt has failed, said he fled when he was ordered to take part in a massacre of holy men. He has now reached the border with Thailand.

Related: The Education of Cindy Sheehan


Woman Dies in Airport Police Custody

October 1st, 2007

Via: NY Daily News:

The daughter-in-law of one of New York’s top officials screamed, “I’m not a terrorist!” and fought with security officials in the Phoenix airport before being wrestled to the ground and handcuffed, witnesses told the Daily News yesterday.

Carol Anne Gotbaum, 45, of the upper West Side, died less than an hour later, after cops claim she apparently strangled herself while trying to escape from the handcuffs in a holding cell at Phoenix Sky Harbor International Airport.

“I’m not a terrorist! I’m a sick mom! I need help!” yelled the mother of three after she missed the 2:58 p.m. US Airways Express flight to Tucson, said airport workers who witnessed the confrontation Friday.

They said one cop put his knee in her back to restrain her while others grabbed her flailing arms.

“I believe she was a little not-there. She kept punching. She kept screaming. She kept kicking,” one worker told The News. “She looked really scared, really frightened. I think she was afraid to go to jail.”

Gotbaum’s husband, Noah, is the son of longtime city labor leader Victor Gotbaum and the stepson of his wife, Public Advocate Betsy Gotbaum, a possible candidate for mayor in 2009.

Betsy Gotbaum said her stunned family was still searching for answers in the sudden death.


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