Showing posts with label New. Show all posts
Showing posts with label New. Show all posts

Thursday, December 4, 2008

Really Scary Fed Charts: NOV, US Bankrupt?

Fed Defies Transparency Aim in Refusal to Disclose (Update1): “The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.

Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September they would comply with congressional demands for transparency in a $700 billion bailout of the banking system. Two months later, as the Fed lends far more than that in separate rescue programs that didn’t require approval by Congress, Americans have no idea where their money is going or what securities the banks are pledging in return.

“The collateral is not being adequately disclosed, and that’s a big problem,” said Dan Fuss, vice chairman of Boston- based Loomis Sayles & Co., where he co-manages $17 billion in bonds. “In a liquid market, this wouldn’t matter, but we’re not. The market is very nervous and very thin.”

Bloomberg News has requested details of the Fed lending under the U.S. Freedom of Information Act and filed a federal lawsuit Nov. 7 seeking to force disclosure.

The Fed made the loans under terms of 11 programs, eight of them created in the past 15 months, in the midst of the biggest financial crisis since the Great Depression.”

While the Fed may be refusing to name individual firms, we can just look at the data from the Federal Reserve Bank of St. Louis to pin down exactly where the $2 trillion of emergency loans went. We can also determine how that in turn was deployed.[...]

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Saturday, November 8, 2008

Details Emerge on new WTC Collapse Videos

A source connected to the previously unreleased footage of the collapse of WTC1 and WTC7 which suddenly appeared on internet video-sharing site Veoh.com last weekend has revealed details about the footage to The Corbett Report.

According to the source, the videos available on the internet come from a DVD that was compiled from raw footage taken in New York on September 11. The video on the internet has not been edited or manipulated in any way from the footage on the DVD, although the ‘replay’ of each collapse has been slowed down by 50 percent. The source indicated, however, that the raw footage had been edited before it was put on the DVD, thus explaining the sudden cut from a close-up of the North Tower to a long shot of the entire building with the collapse already underway.

This source also dismisses internet speculation that the person who took the footage was connected in any way to the collapses themselves. A number of posters on internet discussion boards and forums have claimed that the WTC7 video is suspicious as it zooms out just moments before the collapse, as if the person taking the footage knew what was about to happen. The source notes that the footage starts with a close-up of the windows breaking out on the north side of the building, which would have been a visual cue to anyone watching the building at that moment that something was taking place in the building.
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Friday, November 7, 2008

SHELL vice president: Peak Gas could come 'earlier than we think'

For the gas industry, peak gas output could come sooner than expected, "maybe not too different from peak oil," Shell executive vice president John Mills told delegates at the ADIPEC conference in Abu Dhabi on 5 November 2008.

"Globally, what people have woken up to is that there is a prospect for the gas industry that its supply-demand crunch could come earlier than anticipated," he said.

"The Middle East will still be increasing its gas exports right through that [peak in global gas supply], but the picture in North America and Europe will be quite different," he said.

Chris Ball of Occidental said "we are very optimistic that there are large reserves of gas out there, which if customers will accept the price, [can be developed]. Industry can be creative and innovative [to find solutions] but it will take money."

ADNOC's gas processing manager Ismail Al Ramahi said that 40% of global gas reserves were in the Middle East, but he said the distribution of the available gas to the market was concentrated in a few countries.

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Wednesday, November 5, 2008

Ron Paul: No Change on the Horizon

Ron Paul was interviewed on CNNs American Morning today. He asserted that neither Obama nor McCain will introduce any significant changes for the better, and that a Democrat monopoly over the Senate, the House and the Presidency would be very bad for...

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[Source: Ron Paul forum - Posted by FreeAutoBlogger]