Archive for February, 2008

Top Picks ~ Week of February 25, 2008

Money & Markets

Follow the Trend
By James Turk - GoldMoney.com (29 Feb 2008)

Pennsylvania Student Loans Halted on Auction Failures
By Adam L. Cataldo - Bloomberg.com (27 Feb 2008)

Orwell’s Vision, Lockheed’s Dream
By Chris Sanders - Sanders Research (29 Feb 2008)

Dems Work to Keep Subsidies for Agribusiness
By Carolyn Lochhead - San Francisco Chronicle (28 Feb 2008)

G7’s Readiness to ‘Stabilize’ Markets Reiterated by Japanese Official
By Natsuko Waki & Toni Vorobyova - Reuters (28 Feb 2008)

New York Faces Double Whammy as Swaps Compound Failed Auctions
By Michael Quint - Bloomberg.com (28 Feb 2008)

MBIA Maintains Highest Rating, Pfizer Cut
At Mish’s Global Economic Trend Analysis (26 Feb 2008)

Former AIG, General Re Execs Guilty
At CNNMoney.com (25 Feb 2008)

Small and Midsize US Banks Beginning to Struggle in Credit Crisis
By Eric Dash - New York Times (27 Feb 2008

Industrial, Political Pressure Rises on ECB to Weaken Euro
By Ambrose Evans-Pritchard - London Telegraph (28 Feb 2008)

Russia Quietly Starts to Shift its Oil Trade Into Rubles
By Andrew E. Kramer - New York Times (27 Feb 2008)

Calpers Approves Big Increase in Commodity Investments
By Saljel Kishan - Bloomberg.com (28 Feb 2008)

More Small Business Owners See Economic Conditions for Their Businesses Improving
Rasmussen Reports (25 Feb 2008)

Mark-to-Market Requirements Turn Into Doomsday Machine
By John Dizard - FinancialTimes.com (24 Feb 2008)

Lunch Crowd Invests in Vermont Diner
On Morning Edition - NPR.org (26 Feb 2008)

Greenspan Tells Gulf to Drop Dollar
Aljazeera.net (25 Feb 2008)

Confidence Plunges, Inflation Rate Soars
Associated Press (26 Feb 2008)

Activist Fund Seeks Ban On ‘Nusiance Shareholders’
By Judith Burns - Dow Jones Newswires (22 Feb 2008)

US Considers Sanctions Against Iran’s Central Bank
From AFP (25 Feb 2008)

~ View Current Updates on Clear Channel Deal

Taxes To Bail Out Robert Rubin
By Dean Baker - Truthout.org (25 Feb 2008)

Hedge Funds Call Banks to Account
By James Mackintosh - FinancialTimes.com (14 Feb 2008)

Fears that $3bn May Not Be Enough to Save Ambac
By Tom Bawden - TimesOnline (26 Feb 2008)

Germans Accuse UBS of Sub-Prime ‘Mis-Selling’
By John Waples - TimesOnline (24 Feb 2008)

Banks Lose to Deadbeat Homeowners as Loans Sold in Bonds Vanish
By Bob Ivry - Bloomberg.com (25 Feb 2008)

High Court Overrules 3 State Laws
By Jess Bravin - Wall Street Journal (21 Feb 2008)

Nigerian States Support Discontinuing Payment in Dollars
By Kunle Aderinokun - This Day, Lagos, Nigeria (20 Feb 2008)

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Precious Metals

Demand for Gold and Silver as Currency of Legal Tender for Merchant Services
By Alex Wallenwein - The Market Oracle (27 Feb 2008)

Another Public Pension Fund Official Recommends Gold
By Chris Powell - GATA (28 Feb 2008)

Global Shortage of Metals Looming
By Peter Hodson - Financial Post, Toronto (25 Feb 2008)

US Backs Plan for IMF to Sell Some Gold
By John Brinsley - Bloomberg News (25 Feb 2008)

US Treasury to Support IMF Gold Sales if Linked to Cost-Cutting, Reforms
Thomson Financial News (25 Feb 2008)
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Mortgage Market

Mortgage Forgiveness Tax Forms Available Now
PortClintonNewsHerald.com (Feb 2008)

Zell Sees Start of Housing Recovery in the Spring
By Sam Zell - CNBC (26 Feb 2008)

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Food & Health

How to Grow Fantastic Vegan Food Indoors
By Pauline Lloyd - VeganOrganicNetwork

2008 Dirtiest Hotels ~ Let Us Save You From Hotel Hell

Organic Pot Noodle Anyone?
At CorporateWatch.org - Newsletter 38

Food and the Spectre of Malthus
By Mark Thirlwell - FinancialTimes.com (26 Feb 2008)

All Kids Need Flu Shots, CDC Says
By Mark Stobbe - ABC News (27 Feb 2008)

Ice Cream Crisis as Bees Buzz Off
By John Sterlicchi - Guardian.co.uk (25 Feb 2008)

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Commodities Boom Sends French Food Prices Rocketing
By Sybille de La Hamaide - Reuters (25 Feb 2008)

India: Calls to Ban GM Crops Intensify After Rats Suffer
By Ranjit Devraj - CommonDreams.org (6 Jun 2005)

Morgellons Syndrome ~ From Wikipedia

Midlife Suicide Rises, Puzzling Researchers
By Patricia Cohen - New York Times (19 Feb 2008)

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Life

How to Build a Village By Claude Lewenz
By Joanne Hay - Nourished Magazine (Feb 2008)

There Will Be Floods
By Alex Prud’Homme - New York Times (27 Feb 2008)

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Renewables 2007 Global Status Report
By WorldWatch

The Century of the Self
A Documentary by Filmmaker Adam Curtis (2002)

Born Rich ~ A Documentary

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Air Car, Powered by Compressed Air, To Begin Production Soon
By Alex Sydell - SparkingTech.com (15 Feb 2008)

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Geopolitical

Bush Calls Surveillance Bill an ‘Urgent Priority’
By David Stout & Brian Knowlton - New York Times (28 Feb 2008)

Ron Paul Sharing The Political Wealth With Like-Minded Candidates
By Jonathan Allen - CQPolitics (27 Feb 2008)

Consortiumblog ~ Online Community for consortiumnews.com

North American Army Created Without OK By Congress
By Jerome R. Corsi - WorldNetDaily (24 Feb 2008)

Media Blackout of 60 Minutes RE Alabama Governor Siegleman
AtLargely.com (24 Feb 2008)

Recovered History: Don’t Cry For Me, Arkansas
By Sam Smith - Progressive Review (22 Feb 2008)
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In From a Network Member

Securities Certificates

A network member reports that their broker says that their right to
obtain certificates ends on March 13, 2008.

We can’t find the final proclamation, but here is what came up on at search at the Securities Industry and Financial Markets Association.


For more on this why you might want to take delivery of your certificates:

Naked Short Selling

Prognosis for US Paper Certificates: 2008 Will Mark Turning Point
By James Conmy - DTCC.com (Oct 2007)

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Grain Pushing Through Gold

Dan Norcini makes a great point today in his article:

CCI Index Makes Another All Time High Making IMF Gold Suppression Attempts Even More Pointless
JSMineset.com (25 Feb 2008)

He says, essentially, that it is tough to hold a ceiling on gold when soybeans, wheat and corn are busting through all and every ceiling.

While it may be possible to persuade millions of investors to invest in precious metals vehicles that do not require physical delivery of the real thing, it is hard to feed a family on “fiat food.”

The price of food is going much, much higher.

See: Global Grain Inventories Are Low

Quote du Jour


Disaster Preparedness

Sometimes I am asked how to prepare for a worst case scenario if we experience a financial or political meltdown in the U.S. or the global banking system. One way to help yourself imagine what such a scenario would be like is to read descriptions by people who have lived through such meltdowns as a result of economic warfare (Cuba, Russia, Latin America) during the last two decades or as a result of a particularly lethal combination of natural disasters and economic warfare (New Orleans, Indonesia). Here is a selection of readings and videos we have found particularly useful.

Economic Warfare

Closing the “Collapse Gap”: the USSR Was Better Prepared for Collapse than the U.S.
By Dmitry Orlov - Energy Bulletin (4 Dec 2006)

Reinventing Collapse
By Dmitry Orlov 

Life and Debt in Jamaica
A film by Stephanie Black

Participatory Budgeting ~ From Wikipedia

Post-Soviet Lessons for a Post-American Century
By Dmitry Orlov - SurvivingPeakOil.com (Archives)

Survival in Times of Uncertainty: Growing Up in Russia in the 1990s
By Legal Alien - Sott.net (24 Jan 2008)

The Experience of the Participatory Budget in Porto Alegre, Brazil
At Unesco.org

The Power of Community: How Cuba Survived Peak Oil
At PowerOfCommunity.org

The Rape of Russia ~ By Anne Williamson

“The Take” ~ A Documentary

The Globalization of Poverty and the New World Order
By Michel Choussudovsky

Transcript of Interview of Greg Palast, Journalist for BBC & Observer, London
Alex Jones Radio Show (4 Mar 2002)

Natural Disasters

The Year the Levees Broke
Greg Palast in New Orleans

The Rise of Disaster Capitalism
By Naomi Klein - The Nation (14 Apr 2005)

The Shock Doctrine ~ Short Film

Reducing Transparency


“Due to budgetary constraints, the Economic Indicators service will be discontinued effective March 1, 2008.”

Economic Indicators.gov is brought to you by the Economics and Statistics Administration at the U.S. Department of Commerce. Our mission is to provide timely access to the daily releases of key economic indicators from the Bureau of Economic Analysis and the U.S. Census Bureau.

Update ~

Commerce Department Relents, Will Continue Site with Economic Indicators
By Chris Powell - GATA (22 Feb 2008)

Top Picks ~ Week of February 18, 2008

Fidel Castro Steps Down as President of Cuba
By James C. McKinley, Jr. -
International Herald Tribune (19 Feb 2008)
Fidel Castro said Tuesday that he would step down as the president of Cuba, opening the way for his brother Raul Castro to become Cuba’s head of state. Continue…

Money & Markets

German State-Owned Banks on Verge of Collapse
By Wolfgang Reuter - SpiegelOnline (20 Feb 2008)

Drug War Clock ~ drugsense.org

Shadow Government Statistics ~ SGS M3 Continuation, GDP Annual Growth and more . . .

US To Turn up Heat on Tax Protesters
By Robert Schmidt - Bloomberg News (20 Feb 2008)

United Natural Foods Stock Plummets
By Cara Rubinsky - Associated Press (22 Feb 2008)

Supreme Court Rules Employees Can Sue Over 401(k) Misconduct
By Carrie Johnson - Washington Post (21 Feb 2008)

Coffee, Cotton and Sugar Look to Gain Amid Commodity Boom
By Blake Robben - BarChart.com (20 Feb 2008)

German Wages, Prices Limit ECB’s Room for Rate Cut
By Simone Neier & Christian Vits - Bloomberg.com (20 Feb 2008)

KKR Debt Delay Fans Credit Fears
BBC News (20 Feb 2008)

Iran Opens its 1st Oil Products Bourse

From the Associated Press (18 Feb 208)

Rural Development Broadband Loan and Loan Guarantee Program
At USDA Rural Development website

Vallejo On Brink of Bankruptcy
By John Boitnott - NBCll.com (19 Feb 2008)

Arcane Market is Next to Face Big Credit Test
By Gretchen Morgenson - New York Times (17 Feb 2008)

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CitiGroup Shuts London Fund to Withdrawals
By Angela Jameson - Times Online (15 Feb 2008)

Bond Insurer Split May Trigger Lawsuits, Analysts Say
By Cecile Gutscher - Bloomberg.com (18 Feb 2008)

US Banks Borrow $50bn Via New Fed Facility
By Gillian Tett - Financial Times, London (18 Feb 2008)

Northern Rock Deal Could Cost Us Each L3,500
By Andrew Porter, et al - London Telegraph (19 Feb 2008)

Inflating Away Debt
By Mike Mish Shedlock - Minyanville (19 Feb 2008)

New Trouble in Auction-Rate Securities
By Jenny Anderson & Vikas Bajaj - New York Times (15 Feb 2008)

Mainstream vs. Main Street
By P. Joseph Potocki - Metrosantacruz.com (13 Feb 2008)

Cassandra of U.S. Fiscal Issues, Walker Leaving Government Accountability Office
By Elizabeth Williamson - Washington Post (16 Feb 2008)

Internet and the Iran Oil Bourse
By Sandhya Jain - Organizer.org (24 Feb 2008)

Iranian Envoy Suggests Pricing Iranian Oil in Rubles
From Islamic Republic News Agency (15 Feb 2008)

The Breakdown of Wall Street Alchemy
By Doug Noland - Credit Bubble Bulletin
(15 Feb 2008)
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Mortgage Market

The Subprime Primer

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Food & Health

Industry Concerns Follow Massive US Beef Recall
By Linda Rano - foodproductiondaily.com (19 Feb 2008)

Wheat Market Gone Wild
By Tom Webb - Pioneer Press (Feb 2008)

How Corn is Quickly Becoming the New Crude
By Carrie Taie - Financial Post, Canada (16 Feb 2008)

Agribusiness Gaining More Control Over Universities
By Nancy Scola - Alternate (15 Feb 2008)

I Was Right About the Bird Flu Hoax
Dr. Mercola.com (14 Feb 2008)

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Life

Cellphone Radiation Alters Skin Proteins
Associated Press (12 Feb 2008)

The Milky Way is Twice the Size We Thought It Was
Press Release: University of Sydney (20 Feb 2008)

Total Lunar Eclipse - Feb 20-21, 2008 ~ Animation

Musicians Sue Universal Music for Lost Royalties
By Edith Honan - Reuters (15 Feb 2008)

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Geopolitical

Experts Fear Debris Isn’t the Only Fallout From Satellite Shoot-Down
By Nancy A. Youssef - McClatchy Newspapers (21 Feb 2008)

Map Shows Toll on World’s Oceans
By Helen Briggs - BBC Science Reporter (14 Feb 2008)

Kosovo MPs Proclaim Independence
BBC News (17 Feb 2008)

Dahlgren Rail Gun Shot Sets World Record
By Doug Devant - Naval District on dcmillitary.com (14 Feb 2008)

The Most Dangerous Political Malaise
By Billy Konrad - BillyKonrad.com (15 Feb 2008)

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Top Contributors

Thanks to the wonderful opensecrets.org, here are the top 20 contributors for the candidates running in the Presidential primaries.

[* These charts list the top donors to the candidate in the 2008 election cycle. The organizations themselves did not donate , rather the money came from the organization's PAC, its individual members or employees or owners, and those individuals' immediate families. Organization totals include subsidiaries and affiliates.]



Quote du Jour