Yes, Mildred, the People Who Run the World Have Private Meetings
May 21st, 2009Via: Guardian:
So who is the paranoid one? Me, hiding in stairwells, watching the pavement behind me in shop windows, staying in the open for safety? Or Bilderberg, with its two F-16s, circling helicopters, machine guns, navy commandos and policy of repeatedly detaining and harassing a handful of journalists? Who’s the nutter? Me or Baron Mandelson? Me or Paul Volker, the head of Obama’s economic advisory board? Me or the president of Coca-Cola?
It makes me want to spit, the absurdity of it: the cost, not just in Greek tax euros, but on my peace of mind, of having (conservatively) a dozen Jack Bauers assigned to tailing me. I hope the operation at least had a cool name: Operation Catastrophic Overreaction, perhaps.
Satellites to Streamline U.S. Intelligence Agency Narcotics Trafficking Operations
May 21st, 2009That’s not a misleading headline for those of us who have been paying attention. But then again, how many people have ever of SEASPRAY? This looks like an updated version of SEASPRAY, which is part of how Barry Seal was able to move tons of drugs into the U.S.
It’s helpful to make sure that the Left hand knows what the Right hand is doing when it comes to Uncle $cam’s drug running operations. My guess is that the use of the satellites will make this much easier. The cops are there to bust the upstarts, not the others.
Via: U.S. News and World Report:
From high above the Earth, the U.S. intelligence community is using satellites to track the activities of drug cartels operating along the U.S.-Mexican border.
Pictures from space are being used along with other intelligence to pinpoint Mexican narcotics operations and anticipate smuggling attempts into the United States, said R. Scott Zikmanis, a deputy director of operations with the National Geospatial-Intelligence Agency.
Federal officials say an eye in space adds one more tool in an ever-expanding technological arsenal aimed at defending the border from narcotics traffickers, human smugglers and terrorists.
If a satellite picks up on activities by drug runners, U.S. authorities could then transmit information to agents along the border.
In turn American authorities could notify their Mexican counterparts to a stash-house location or use the intelligence to calculate when and where loads of drugs may be coming across the border, Zikmanis said. “Is it possible? Of course it is,” Zikmanis said. “Is it practical? Yes.”
During a Phoenix conference on border security last week, Zikmanis said his agency already has supplied some data to the El Paso Intelligence Center, a federal clearinghouse for the investigation of drug cartels.
The National Geospatial-Intelligence Agency uses satellite surveillance on foreign soil for the Pentagon, though it also has assisted emergency responders in domestic disasters such as wildfires and Hurricane Katrina.
The use of satellite imagery for border security has been limited because of concerns about a military agency assisting domestic law enforcement, Zikmanis said.
Federal law strictly limits U.S. military operations on American soil unless such operations are authorized by Congress.
Any border-security surveillance will be done over Mexico, not the United States, Zikmanis said.
His agency uses both military and commercial satellites for its work.
Because the military photographs may be classified, he said, the agency is wrestling with legal questions about what can be shared with law enforcement.
Civil rights attorneys question the use of satellite technology in law enforcement.
“We are in the midst of a really dangerous time in terms of technology,” said Chris Calabrese, an attorney with the Technology and Legal Project of the American Civil Liberties Union.
“The idea that such a powerful tool might be turned on U.S. citizens is really troubling.”
Research Credit: thucydides
BRITAIN’S DEBT OUTLOOK LOWERED TO NEGATIVE
May 21st, 2009Via: AP:
Britain faces the unsettling possibility of seeing its debt rating downgraded, after credit ratings firm Standard & Poor’s said Thursday it has revised the country’s outlook to negative from stable.
Though the ratings agency reaffirmed the country’s actual long-term credit rating at “AAA” and its short-term rating at “A-1+,” it said the outlook had deteriorated because of massive borrowing to deal with the recession and the banking crisis.
The outlook revision does not trigger a formal re-evaluation of Britain’s rating — unlike being put on credit watch — but does mean that policy makers have to be aware that a downgrade may happen if public finances do not improve.
The pound slumped by over 2 U.S. cents to just below $1.56 after the news, but recovered some ground to trade around $1.5670. Meanwhile the FTSE share index fell more than 120 points, or around 2.7 percent, though like other markets around the world it was facing heavy selling pressure after the U.S. Federal Reserve warned that the U.S. economy would shrink by more than anticipated this year.
A lower credit rating would make the government pay higher interest rates to borrow money on bond markets. An S&P study found that 37 percent of its negative outlooks were followed by a downgrade.
“Pressure on the rating will raise concerns regarding the ability to issue the record amount of gilts (British government bonds) required over the coming year to fund the deteriorating fiscal position in the U.K.,” said Hans Redeker, an analyst at BNP Paribas.
This is the first time Britain has been put on the negative list since since S&P started giving its view of the outlook of the country’s public finances in the early 1980s.
Commission Report Documents Atrocities Committed by the Catholic Church in Ireland; Excludes Names of Perpetrators
May 21st, 2009Chapter 7 Record of Abuse (Male Witnesses) is ghastly stuff. It reads like accounts of Satanic ritual abuse and what went on inside Abu Ghraib.
Via: AP:
After a nine-year investigation, a commission published a damning report Wednesday on decades of rapes, humiliation and beatings at Catholic Church-run reform schools for Ireland’s castaway children.
The 2,600-page report painted the most detailed and damning portrait yet of church-administered abuse in a country grown weary of revelations about child molestation by priests.
The investigation of the tax-supported schools uncovered previously secret Vatican records that demonstrated church knowledge of pedophiles in their ranks all the way back to the 1930s.
Wednesday’s five-volume report on the probe — which was resisted by Catholic religious orders — concluded that church officials shielded their orders’ pedophiles from arrest amid a culture of self-serving secrecy.
“A climate of fear, created by pervasive, excessive and arbitrary punishment, permeated most of the institutions and all those run for boys. Children lived with the daily terror of not knowing where the next beating was coming from,” Ireland’s Commission to Inquire Into Child Abuse concluded.
Victims of the abuse, who are now in their 50s to 80s, lobbied long and hard for an official investigation. They say that for all its incredible detail, the report doesn’t nail down what really matters — the names of their abusers.
“I do genuinely believe that it would have been a further step towards our healing if our abusers had been named and shamed,” said Christine Buckley, 62, who spent the first 18 years of her life in a Dublin orphanage where children were forced to manufacture rosaries — and were humiliated, beaten and raped whether they achieved their quota or not.
The Catholic religious orders that ran more than 50 workhouse-style reform schools from the late 19th century until the mid-1990s offered public words of apology, shame and regret Wednesday. But when questioned, their leaders indicated they would continue to protect the identities of clergy accused of abuse — men and women who were never reported to police, and were instead permitted to change jobs and keep harming children.
The Christian Brothers, which ran several boys’ institutions deemed to have harbored serial child molesters and sadists on their staff, insisted it had cooperated fully with the probe. The order successfully sued the commission in 2004 to keep the identities of all of its members, dead or alive, unnamed in the report. No real names, whether of victims or perpetrators, appear in the final document.
Research Credit: EG
Day of Reckoning Looms for the U.S. Dollar
May 21st, 2009Via: Financial Post:
The U.S. dollar’s day of reckoning may be inching closer as its status as a safe-haven currency fades with every uptick in stocks and commodities and its potential risks – debt and inflation – are brought under a harsher spotlight.
Ashraf Laidi, chief market strategist at CMC Markets, said Wednesday a “serious case of dollar damage” was underway.
“We long warned about the day of reckoning for the dollar emerging at the next economic recovery,” Mr. Laidi said in a note.
Mr. Laidi said economic recovery would weigh on the greenback as real demand for commodities, coupled with improved risk appetite, caused investors to seek higher yields in emerging markets and commodity currencies. This would draw investment away from the U.S. dollar, which was dragged down by growing debt and the risk quantitative easing would eventually spark a surge in inflation.
…
Concern has been mounting that the increasing U.S. debt load, as well as a potential inflation time bomb in the form of the quantitative easing, could drag down the greenback. Garnering attention is the risk the United States could lose its triple-A sovereign credit rating, which reflects the chance of the borrower defaulting on its debt.
“By many measures, the U.S. appears just a few short steps away from losing its coveted triple-A status, unless the recovery turns out to be considerably stronger than expected and the fiscal repair is faster than commonly expected,” said Douglas Porter, deputy chief economist at BMO Capital Markets. “A downgrade could boost the cost of funding U.S. debt at the margin, but underlying inflation and fiscal fundamentals will ultimately be the primary driver.”
Cryptogon Readers Send Contributions
May 21st, 2009MW sent $20 and MR sent $2. Thank you.
Obama Is Said to Consider Preventive Detention Plan
May 21st, 2009Via: New York Times:
President Obama told human rights advocates at the White House on Wednesday that he was mulling the need for a “preventive detention” system that would establish a legal basis for the United States to incarcerate terrorism suspects who are deemed a threat to national security but cannot be tried, two participants in the private session said.
The discussion, in a 90-minute meeting in the Cabinet Room that included Attorney General Eric H. Holder Jr. and other top administration officials, came on the eve of a much-anticipated speech Mr. Obama is to give Thursday on a number of thorny national security matters, including his promise to close the detention center at the naval base in Guantánamo Bay, Cuba.
Human rights advocates are growing deeply uneasy with Mr. Obama’s stance on these issues, especially his recent move to block the release of photographs showing abuse of detainees, and his announcement that he is willing to try terrorism suspects in military commissions — a concept he criticized bitterly as a presidential candidate.
The two participants, outsiders who spoke on the condition of anonymity because the session was intended to be off the record, said they left the meeting dismayed.
They said Mr. Obama told them he was thinking about “the long game” — how to establish a legal system that would endure for future presidents. He raised the issue of preventive detention himself, but made clear that he had not made a decision on it. Several senior White House officials did not respond to requests for comment on the outsiders’ accounts.
“He was almost ruminating over the need for statutory change to the laws so that we can deal with individuals who we can’t charge and detain,” one participant said. “We’ve known this is on the horizon for many years, but we were able to hold it off with George Bush. The idea that we might find ourselves fighting with the Obama administration over these powers is really stunning.”
The other participant said Mr. Obama did not seem to be thinking about preventive detention for terrorism suspects now held at Guantánamo Bay, but rather for those captured in the future, in settings other than a legitimate battlefield like Afghanistan.
Wary of U.S. Debt, China Shifts Gears on Investment
May 20th, 2009The key sentence is below.
Via: Reuters:
So rather than cut off financing for the U.S.’s record budget deficit for this fiscal year, China has instead, little by little, shifted its buying out of longer-term bonds.
Green Berets: Military Brass Urge American Energy Revolution
May 20th, 2009Mmm hmm. Clean, green death rays.
Via: Wall Street Journal:
Retired military officers are urging the U.S. to get serious about changing the country’s approach to energy use.
In a new report from Alexandria, Va.-based Center for Naval Analyses, a bevy of high-ranking former Army and Navy officials stress that the country’s reliance on oil poses a threat to national security and undermines the country’s ability to wage war. That’s because the hegemony of oil empowers plenty of dodgy nations, and because it imposes huge (and expensive) logistics strains on the U.S. military, as made clear in the wars in Iraq and Afghanistan.
The report calls for the Pentagon to lead a shift away from oil and toward renewable sources of energy—not so much to save the planet as to make it easier to defend.
U.S. Crude Futures Rise $2 as EIA Says Supply Fell
May 20th, 2009WARNING: This is not a recommendation to buy, sell or hold any financial instrument.
Disclosure: I’m long USO.
Shorter term traders who are holding USO with profit should consider selling some of it into the strength this morning.
This Reuters piece doesn’t mention OPEC production cuts, but here it is anyway.
Via: Reuters:
U.S. crude oil futures rose more than $2 per barrel on Wednesday, pushing to a 2009 front-month intraday peak above $62 a barrel as the government reported crude oil and gasoline inventories fell last week.
Crude oil futures had already risen on a weaker dollar, Nigerian unrest, strength in equities and Tuesday’s bullish oil inventory report from the American Petroleum Institute.
This week’s U.S. refinery fires also helped lift the oil complex, keeping RBOB gasoline futures climbing.
On the New York Mercantile Exchange at 10:36 a.m. EDT, front-month July crude was up $1.44, or 2.4 percent, at $61.54 a barrel, after trading from $59.86 to $62.14, a 2009 front-month intraday peak and highest since $62.28 was struck on November 11.


