Archive for February 23rd, 2011

Nomura Predicts $220 Oil If Just Libya, Algeria Cut Output

Wednesday, February 23rd, 2011

by Tyler Durden 02/23/2011 Waiting for a Saudi revolution before buying those $200 oil calls? It may be time to reevaluate: according to Nomura a halt in just Libyan and Algerian oil production (far more likely than the crisis spilling over to Saudi) would send oil to over $220/bbl. Specifically “the closest comparison... »

Posted in Civil War II, Oil | No Comments »

North American Union: Canada, U.S. Agree to Use Each Other’s Troops in Civil Emergencies, Martial Law?

Wednesday, February 23rd, 2011

Canada and the U.S. have signed an agreement that paves the way for the militaries from either nation to send troops across each other’s borders during an emergency, but some are questioning why the Harper government has kept silent on the deal. Ottawa Citizen February 22nd, 2011 Canada and the U.S. have signed... »

Posted in Civil Unrest, Government Evil, Martial Law, North American Union | No Comments »

Libya Revolt Widens as Expatriates Flee, Qaddafi Vows to Fight

Wednesday, February 23rd, 2011

By Alaa Shahine, Ola Galal and Nayla Razzouk Feb 23, 2011 Governments rushed to evacuate thousands of expatriates from Libya as army units defected and a former aide to Muammar Qaddafi warned that the spreading revolt may topple the regime within days. The U.S. has chartered a ferry that will take American citizens... »

Posted in Civil Unrest, World Politics | No Comments »

The Food Crisis is a Dollar Crisis

Wednesday, February 23rd, 2011

By Dan Amoss At this week’s hearing on Capitol Hill, Fed Chairman Ben Bernanke demonstrated a lack of understanding about what causes inflation. His comments reflected a belief that GDP growth causes inflation. But true economic growth is production-driven, and adds to the supply of goods and services in the economy. True economic... »

Posted in Economics, Food Wars | No Comments »

Silver demand simply ‘outrageous’

Wednesday, February 23rd, 2011 Silver prices made a new 30 year high of $31.75 an ounce last week and then proceeded to ratchet even higher into the weekend to around $33 on what is described as market backwardation. Rarely seen, silver backwardation tells us the silver market can’t keep up with the level of international and retail... »

Posted in Economics | No Comments »

Gaddafi Said To Have Ordered Libyan Oil Infrastructure Sabotage

Wednesday, February 23rd, 2011

by Tyler Durden 02/22/2011 When we asked yesterday whether Ghadaffi will pull an inverse Louis XV and burn down all of Libya’s oilfields on his way out (to either Saudi Arabia, or the afterworld) a la Saddam Hussein in Kuwait, we assumed this was a rhetorical question. Alas, we did not realize the... »

Posted in Oil, World Politics | No Comments »

The Saudi King Just Confirmed He’s Terrified Of Revolution

Wednesday, February 23rd, 2011

Joe Weisenthal Feb. 23, 2011 Saudi King Abdullah just confirmed he’s terrified of revolution in the kingdom. According to reports, he’s introduced a slew of new reform measures, basically centered around giving more money away to the poor. Al-Arabiya tweeted out the full list of new benefits, which include: A $10.6 billion increase... »

Posted in Civil Unrest, World Politics | No Comments »

Chaos Grows in Libya as Strife in Tripoli Intensifies

Wednesday, February 23rd, 2011

By DAVID D. KIRKPATRICK and SHARON OTTERMAN February 22, 2011 Nearly 10,000 supporters of the Libyan leader, Col. Muammar el-Qaddafi, gathered in Tripoli after his speech to the nation. More Photos » By KAREEM FAHIM and DAVID D. KIRKPATRICK Published: February 22, 2011 TOBRUK, Libya — Vowing to track down and kill protesters... »

Posted in Civil Unrest, World Politics | No Comments »

Why Wisconsin’s economic protests will only spread

Wednesday, February 23rd, 2011 What we’re really seeing today with the union worker protests in Madison, Wisconsin is the collision of money desires with fiscal reality. Everywhere across the country, union workers want to take home more money. Across the board, from teachers and firemen to law enforcement officers and government office workers, everybody wants a bigger... »

Posted in Civil Unrest, Economics | No Comments »

Is the State Bond Market the Next Bubble to Pop?

Wednesday, February 23rd, 2011

BY ROBERT MORLEY The immutable law of the bond market is about to be broken. The perfect storm is brewing, says Republican Congressman Patrick McHenry. States are lining up cap in hand before President Barack Obama, expecting a bailout just like everyone else. But “the era of the bailout is over,” he says.... »

Posted in Economics, Government Evil | No Comments »

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