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Monday, January 2, 2012
Daily Digest 12/30 - A Thinly Veiled Bail, Photos Of Japan's Exclusion Zone, War Imminent In Straits Of Hormuz?
- Repo Men
- What if the SEC investigated Banks the way it is investigating Mutual Funds?
- How Banks Cheat Taxpayers
- A Thinly Veiled Bail
- Is It Too Late To Buy Gold And Silver? - Mike Maloney
- Venezuela to Open up Massive Natural Gas Field with European Investment
- Oil Prices Predicted to Stay Above $100 a Barrel Through Next Year
- War Imminent in Straits of Hormuz? $200 a Barrel Oil?
- An Entrepreneurial Solution To The Problem Of Getting Local Food To Local Tables: Trust,?Convenience, And Perceived Value
- Japan's Nuclear Exclusion Zone
Economy
Repo Men (Phil H.)
That?s a pretty fantastic lineup, from Wall Street?s point of view, but the real bonus turned out to be Treasury secretary Tim Geithner, who came up through the ranks as part of the bipartisan Robert Rubin?Hank Paulson?Citigroup?Goldman Sachs cabal. Geithner, a government-and-academe man from way back, never really worked on Wall Street, though he once was offered a gig as CEO of Citigroup, which apparently thought he did an outstanding job as chairman of the New York Fed, where one of his main tasks was regulating Citigroup ? until it collapsed into the yawning suckhole of its own cavernous ineptitude, at which point Geithner?s main job became shoveling tens of billions of federal dollars into Citigroup, in an ingeniously structured investment that allowed the government to buy a 27 percent share in the bank, for which it paid more than the entire market value of the bank.
What if the SEC investigated Banks the way it is investigating Mutual Funds? (June C.)
The actual story makes it clear that the criminals that the SEC was identifying were not ?rogues.? They were the CEOs of seemingly legitimate firms. The SEC is identifying ?accounting control frauds? ? the frauds that cause greater financial losses than all other forms of property crime combined. The SEC is not identifying a few rotten apples, but roughly 100 hedge funds likely to have engaged in accounting fraud.
How Banks Cheat Taxpayers (June C.)
There is absolutely no good reason why all debt issues are not put up to competitive bids. This is not like defense contracting, where in some situations it is at least theoretically possible that X or Y company is the world?s only competent manufacturer, say, of armor-plated Humvee doors, or some such thing. It?s still wrong and perverse when companies like Halliburton or Blackwater get sole-source defense contracts, but at least there?s some kind of theoretical justification there.
A Thinly Veiled Bail (Ilene)
In exchange for Euros as collateral, the ECB gets non-technically loaned Dollars which it then lends to European banks. The additional Dollars flowing to the EU banks enable the ECB not to release more Euros to the EU banks and into circulation. According to O'Driscoll, this "Byzantine financial arrangement" was designed perfectly to confuse people.
Is It Too Late To Buy Gold And Silver? - Mike Maloney (adam)
With the recent price drop around the precious metals over the past month, many people are wondering if the precious metals bull market is coming to an end... If they should sell now at a loss before the price dives even more...
So... Are they right? Should you sell your metals, or buy more? Is the price going to increase or decrease from here?
Energy
Venezuela to Open up Massive Natural Gas Field with European Investment (James S.)
ENI issued a statement noting, ?Following the execution of the gas sales agreement, Cardon IV will proceed to the final investment decision for Phase I, which includes the utilization of the wells already drilled and the installation of light offshore platforms linked through a gas pipeline to a central processing facility located onshore. Phase I has an estimated cost of $1.4 billion, incorporating some of the investment necessary for subsequent phases (mainly for pipeline and platforms). Phase II and III will require additional drilling from the platforms installed in Phase I, and the expansion of the CPF processing capacity.?
Oil Prices Predicted to Stay Above $100 a Barrel Through Next Year
Now, though, the focus has turned to Iran. On Wednesday, Iran and the United States sharpened their tone over Iran?s vow to close the Strait of Hormuz if Western powers tried to stifle Iran?s petroleum exports.
War Imminent in Straits of Hormuz? $200 a Barrel Oil? (James S.)
The participating Iranian forces have been divided into two groups, blue and orange, with the blue group representing Iranian forces and orange the enemy. Velayat 90 is involving the full panoply of Iranian naval force, with destroyers, missile boats, logistical support ships, hovercraft, aircraft, drones and advanced coastal missiles and torpedoes all being deployed. Tactics include mine-laying exercises and preparations for chemical attack. Iranian naval commandos, marines and divers are also participating.
Environment
An Entrepreneurial Solution To The Problem Of Getting Local Food To Local Tables: Trust, Convenience, And Perceived Value (jdargis)
Hudson Valley Harvest is the brain-child of Paul Alward, who happens to be both a farmer himself and, in the spirit of full disclosure, a good friend. The company has pulled together a line of locally grown and processed frozen vegetables and naturally-raised beef and pork now available in 21 grocery stores and 10 restaurants in the NYC Metro area. They plan many more. The vegetables (this year?s crop: corn, greens, summer squash, tomatoes, broccoli, and edamame) all come from a network of independent small-scale farms. Produce is harvested at peak freshness, quickly brought to a processing plant in Kingston, and flash-frozen. Individual packages come from single farms and are labelled so as to be completely traceable from ground to package (see picture and caption).
Japan's Nuclear Exclusion Zone (jdargis)
What does a sudden evacuation look like? After everyone is gone, what happens to the places they've abandoned? National Geographic Magazine sent Associated Press photographer David Guttenfelder to the nuclear exclusion zone around Japan's Fukushima Daiichi power plant to find out. Evacuated shortly after the March 11 earthquake and tsunami led to a nuclear radiation crisis, the area has been largely untouched, with food rotting on store shelves and children's backpacks waiting in classrooms. The area may face the same fate as the town of Pripyat, Ukraine after the Chernobyl disaster 25 years ago.
Article suggestions for the Daily Digest can be sent to dd@chrismartenson.com. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."
Source: http://feedproxy.google.com/~r/ChrisMartensonBlogs/~3/RxHI8TKrx7Q/6
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N.Korea rallies for successor, no mention of nuclear arms (Reuters)
SEOUL (Reuters) ? North Korea in a policy-setting message for New Year called on its people to rally behind anointed successor Kim Jong-un by becoming "human shields" but made no mention of its nuclear arms program, the key source of regional security concern during his deceased father's reign.
The North's three main state newspapers said in "a joint editorial" published Sunday that Kim Jong-un has legitimacy to carry on the revolutionary battle initiated by his grandfather Kim Il-sung and developed by his father Kim Jong-il, who died two weeks ago of a heart attack.
"Kim Jong-un, the supreme leader of our Party and our people, is the banner of victory and glory of Songun Korea and the eternal center of its unity," the joint editorial carried by the North's state KCNA news agency said.
"The dear respected Kim Jong-un is precisely the great Kim Jong-il. The whole Party, the entire army and all the people should possess a firm conviction that they will become human bulwarks and human shields in defending Kim Jong-un unto death."
The joint editorial assailed the South Korean government for pursuing confrontation and war maneuvers despite efforts by the North to reopen dialogue, and it repeated its demand for the withdrawal of the U.S. military from the South.
But conspicuously absent from the 5,000-word New Year editorial was any mention of its nuclear arms program.
Momentum was building in diplomatic contacts between the North and the United States before the announcement of Kim Jong-il's death on December 19, raising expectations that the two sides may be closer to reaching a compromise to restart stalled talks aimed at ending the North's nuclear program.
Those talks stalled in 2008 when Pyongyang balked at intrusive inspections of its nuclear sites under a 2005 deal by six countries including the United States and South Korea to give the impoverished North aid in return for disarmament.
Last week, in a fiery message that marked the first communication with the outside world since Kim Jong-il's death, the North's National Defense Commission, which is seen as the apex of power, declared it would not deal with the current government in the South.
South Korean President Lee Myung-bak had angered Pyongyang by cutting off aid to the destitute neighbor when he took office in 2008 demanding nuclear disarmament and economic reform as preconditions to reopen food assistance and political engagement.
Tensions on the divided peninsula had reached a new peak in 2010 when the North launched an artillery barrage into a South Korean island killing civilians. The North was also blamed for a torpedo attack against a South Korean navy ship killing 46.
The North's state media said Saturday that Kim Jong-un has been officially appointed supreme commander of its 1.2-million strong military, two days after the official mourning for the dead leader ended in a move seen as a rush to solidify succession and boost the junior Kim's grip on power.
Kim Jong-un was named a four-star general and given the vice-chairmanship of the ruling party's Central Military Commission by his father in 2010.
Experts believe the untested new leader, who had only been groomed for rule since 2009, will rule with the aid of a close coterie that includes his uncle and key power-broker, Jang Song-thaek, at least in the early stages of the leadership transition.
Jang, husband of Kim Jong-il's younger sister, Kim Kyong-hui, stood behind his nephew in Wednesday's mass funeral parade, escorting the hearse carrying Kim's body. [ID:nL3E7NR51W]
Despite Pyongyang's determination to project an unbroken line from Kim Jong-un's iron-fisted predecessors, which began with his grandfather, Kim Il-sung, there have been questions among outsiders about his capacity to lead the country.
North and South Korea are technically still at war under a truce ending the 1950-53 Korean War.
(Reporting by Jack Kim and Sung-won Shim)
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Sunday, January 1, 2012
Michele Bachmann Iowa Campaign Director Quits, Joins Ron Paul, Denies Payoff
Michele Bachmann is railing against Ron Paul and Kent Sorenson, who left his post as head of her Iowa campaign effort to go work for her rival instead.
Presidential hopeful Bachmann implied that Paul, who is running much stronger in Iowa, bought off her key staffer a week before the state's caucuses.
"Kent Sorenson personally told me he was offered a large sum of money to go to work for the Paul campaign," Bachmann said in a statement to Fox News.
"Kent campaigned with us earlier this afternoon and went immediately afterward to a Ron Paul event and announced he is changing teams."
"Kent said to me yesterday that 'everyone sells out in Iowa, why shouldn't I?' then he told me he would stay with our campaign," Bachmann added.
"The Ron Paul campaign has to answer for its actions."
In response, Paul's campaign said Bachmann's Iowa political director "unequivocally stated Kent Sorenson's decision was in no way financially motivated."
Sorenson attributed his decision to Paul's higher standing in polls, where he is battling Mitt Romney, Newt Gingrich and Rick Santorum for the top spot.
Jesse Benton, Paul's national campaign chairman, welcomed the endorsement from Sorenson, himself an Iowa State Senator, before the Jan. 3 vote:
"Congressman Paul is delighted to accept the endorsement of Senator Kent Sorenson, whose blessing and assistance carry a great deal [of] weight."
"He doesn't take this decision lightly, which says a lot about the senator and Ron Paul." He also picked up an endorsement from Kelly Clarkson this week.
Can he pull off a masterstroke and upset the field next week? Stay tuned.
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Mental Health Services for Foster Care Children in California
Judge A. Howard Matz, of the Federal District Court in Los Angeles, recently approved a landmark agreement between advocates and the state of California that will provide intensive home- and community-based mental health services for children in foster care or at risk of removal from their families. The agreement in the class action suit Katie A. v. Bonta comes nine years after the case was first filed.?
Under the ground-breaking settlement California will make two types of mental health services available to certain children under Medicaid: "intensive home-based services" and "intensive care coordination." The state also will determine what parts of "therapeutic foster care" services are covered under Medicaid and provide that service to certain class members.?
"These services will ensure that thousands of Medicaid-eligible children obtain access to the mental health services they need to live in a family and succeed in school and later life," said Robert Newman, of the Western Center for Law and Poverty, who was the attorney for the plaintiffs.
The settlement also requires California to improve its system of care for providing mental health services to foster youth by coordinating decision-making among state and local agencies, improving guidance to mental health care providers, and developing a consistent team approach to meeting the needs of eligible children and youth and their families.
"This agreement will improve children's access to mental health care and lower government costs, but the hard work of doing what is promised in the agreement remains," stated Patrick Gardner, an attorney with the National Center for Youth Law.
Implementation of the agreement must be achieved within three years, a relatively short period of time for such a large statewide system. "We commend the state for agreeing to an accelerated schedule for getting these services in place," said Kimberly Lewis, an attorney with the National Health Law Program. "We will be doing what we can to ensure that the state is successful in meeting its deadlines."
Judge Matz also noted the aggressive timetable and made a commitment to assure that deadlines would be met "without any extension." The first milestone in the agreement is completion of an implementation plan within six months.
"The settlement brings California into line with modern mental health practice," stated Ira Burnim, of the Bazelon Center for Mental Health Law. "We are delighted to see the process begin that will put into place a system that will address the mental health needs of thousands of California's most vulnerable children."
The children in the plaintiff class are represented by the Western Center on Law and Poverty, the National Center for Youth Law, the Bazelon Center for Mental Health Law, Disability Rights California, the American Civil Liberties Union of Southern California, and the National Health Law Program.
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dennisl: Go Northwestern! Just took lead 7-3 over Texas A&M right now on ESPN. #football
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geekzone.co.nz: Win One Of Four Samsung Focus Flash Windows Phone
To enter competition visit website and simply leave the comment.
I happen to have one of the best jobs within Microsoft - managing the Windows Phone Developer Ecosystem in New Zealand. I work within the Developer Platform Evangelism team, alongside Thiago Almeida (Cloud Evangelist), Nathan Mercer (IT Pro Evangelist) and Nigel Parker (Windows 8 Evangelist).As part of my role, I manage Microsoft New Zealand's Windows Phone training events and workshops, and work with developers to help them get their hands on Windows Phone devices for testing apps nearing completion.? We have some exciting opportunities to ramp up developers on to our Windows Phone Ecosystem so keep reading.
Over the last 12 months we have seen the launch of the highly anticipated Windows Phone in New Zealand, launching with the LG Optimus and HTC Trophy on Telecom and Vodafone, respectively. Since the launch in NZ, developers in New Zealand have released over 250 apps to the Marketplace. Globally, over 40,000 apps have been released, with over 120,000 downloads/day. Three successful New Zealand apps have taken the world by storm, Alphajax, Metrotube, and RWC2011 have had hundreds of thousands of downloads.The market has already begun to shift, and Windows Phone is quickly becoming a major player.? We will be working heavily with our developer community to take advantage of this trend. There are also now several ways to market your application to your specified audience: public domain, targeted domain i.e. enterprise applications, and testing domain. These three options now give you all the flexibility you need to customise your applications, including the opportunity to test your application before submitting to the public market place.There is no reason to put it off any longer! For those new to the platform - Windows Phone development is completed using familiar tools, Visual Studio 2010 and Expression Blend, both available as free versions to develop for the phone. Use Silverlight and XNA to build rich, immersive experiences in the languages you know, C#, VB.Net. And with exposure to over 35 markets there is a huge opportunity to be the next Angry Birds.
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Source: http://www.gimme.co.nz/competitions/win-one-four-samsung-focus-flash-windows-phone-25861
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