muses of the moment

February 7, 2012

Jim Sinclair

Filed under: Dollar Crisis, European Debt Implosion, Odds 'n ends — totallygroovygirlfriday @ 4:56 pm

Click here and Here for Jim’s Mailbox and News of the Day blog post today. It is misc news and links, but there are a couple worth your look.

Summary:

  • Gold trading channels charted. Jim believes we will move into the next one soon.
  • Africa is open for business. “Africa is going to make its debut on the world economic stage. This will be missed by North America but not by China, India and Europe.” Groovygirl says: look up a map of where the US has a military base, actual troops, or access to a country granted by its government. You will see that the US has NO presence on the entire Continent of Africa. This Continent and its raw materials belong to China.
  • ISDA will decide if a default is a default. It will decide who takes the loss from the collapse of debt in Europe. It will not be a legal decision, it will be a political and financial decision.
  • FBI defines “internal” extremists again. “The official definition of an extremist? oh my!”  “The extremists may refuse to pay taxes, defy government environmental regulations and believe the United States went bankrupt by going off the gold standard.” Groovygirl says: remember what I have stated in the past. The laws against terrorists will be written in stone, then the definition of a terrorist will change. Now, the FBI is setting up that change in definition. These people are called extremists, one violent act and they will be called terrorists. It’s 1984, boys and girls! Are they going to arrest to entire state of  New Hampshire, whose state motto is Live Free or Die?

More MF Global Crime Scene Photos

Filed under: MF Global bankruptcy — totallygroovygirlfriday @ 5:01 am

Updated

Click here for another update from Jesse over at Cafe Americain on the ongoing crime scene that is MF Global.

Given that quite a bit of this money was undoubtedly held by MF Global’s bankers, who were almost certainly aware of and may have helped to precipitate the bankruptcy, we might even have a criminal conspiracy to defraud the customers and other creditors in addition to the civil actions appropriate in a fair and unbiased bankruptcy proceeding.

There is also some evidence that certain customers were privately warned by the bankers, or perhaps even parties in the company itself, a few weeks in advance, and were able to withdraw their funds from the company before it failed. Some right wing money men come to mind, among others.

….

If this stands, then nothing, no assets, held by the Anglo-American financial system is safe. When the next crisis comes, they will take what they want, starting with foreign holdings, working their way up the power and influence pyramid from there. And you can talk to the back of their hand if you don’t like it.

Click here for another post about the cause of the fall of MF Global. It is officially confirmed as a margin call. But was it intentional? And by who?

Calls for payments tied to bets MF Global made on European sovereign debt increased Oct. 24 and continued through Oct. 31, the day the futures broker formerly run by Jon Corzine filed for bankruptcy protection, according to a report yesterday from James Giddens, a trustee overseeing the brokerage’s liquidation. MF Global had a market value of $198 million on Oct. 28 as it held $6.3 billion in European sovereign-debt trades.

Japan is still not under control

Filed under: Odds 'n ends — totallygroovygirlfriday @ 1:28 am

Washington’s blog continues to update us on the unstable situation at the nuclear power plants in Japan.

Click here for the whole article.

Main points that groovygirl would like to highlight:

Reactor #2: Just when you thought it was over, the temperature at reactor number 2 at Fukushima’s nuclear plant has soared 26.7 degrees Celsius in the last few hours. Worse: they don’t know why the temperature is increasing after being stabilized for so long.

Reactor #4: A journalist says that a member of the Japanese parliament put him in touch with a manager in Tepco’s engineering department who told him that reactor 4 is “very unstable and dangerous”. (Please click link, very important read, directly from Japan dated Feb. 3, 2012)

Steam rising from reactor Feb 6, 2012, video link. Not sure which reactor that link is showing.

Indeed, nuclear expert Arnie Gundersen has repeatedly said that the spent fuel pool at reactor 4 is by far the biggest concern.

Indeed, Gundersen has said that if the fuel pool at reactor 4 collapses due to an earthquake, people should get out of Japan, and residents of the West Coast of America and Canada should shut all of their windows and stay inside.

Groovygirl says: as far as we know right now, reactor #4 has NOT collapsed. However, the temperatures are rising in other reactors confirmed, steam is rising from the plant (but we can not confirm the cause), and reactor #4 is of the most concern to Tepco. These new developments are something to keep a close eye on.

Ongoing updates from Fairewinds on the situation. Click here.

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