Where tax evaders go offshore nowadays Treasure Islands: Mapping the Geography of Corruption by Khadija Sharife at mrzine.monthlyreview.org
BP at what level do these crimes go unpunished?
Drilling in salt domes under the gulf of Mexico a mile down...can it be done safely...can you prove it can be done safely...do the risks far outweigh the oil gathered? - Why aren't these questions the ones being asked? Answer is that at this time there would be no drilling...the answeres being No, No and Yes. Instead the dialogues are elsewhere obscuring and irrelevant and the criminals escape punishment. ... So the Gulf of Mexico will rot, pricesless and therefore never paid for and BP and Britain and our own oil hungry America and its government will seem to escape without consequences for the perps...but Texas, Mississippi, Louisiana, Florida, perhaps the East Coast and the Carribean will suffer or be partly destroyed instead. (So we have the oil on hand to be able to attack Iran? which will of course justify emergency oil drilling...for a war like Iraq and the Afghanistan wars - which were are for oil and control of oil versus Russia and China where in the latter case our capitalists sent all our production jobs...and in the former case the deposed CEO of BP will be employed for Russian Oil interests of BP and Russia against the U.S.)(So I have to paranoidly wonder if Britain is not now a tool of the 'other great powers' against the United States, either by purposeful intent or the action of moles....?)
ever-wondered-how-you-know-you-are-depression-david-rosenberg-explains good one over at Zero-Hedge
40 Bizarre Statistics That Reveal The Horrifying Truth About The Collapse Of The U.S. Economy over at Activistpost.com. I hate articles that start 10 top, 13 worst, 40 most; still this one has some gem items if true such as
4 - In America today, the average time needed to find a job has risen to a record 35.2 weeks.
fed-says-will-test-liquidity-extracting-reverse-repos-including-mbs
yes, the initial experiments went so very well (not) we are bringing this out again to show we have the tools to suck up all that inflationary cash we printed (which no one has seen a sign of yet) to be able to control the inflation 'everyone'(everyone who has no clue whatsoever about economics) fears follows our cash printing, demonstrating once again, a focus on the irrelevant dangerously skewed to the side of reality -off target...the hyperinflation following a deflation has nothing to do with the cash you printed stupid....it has to do with money chasing fewer and fewer items to purchase...(God help us all!)
03 August 2010
Forgotten Fed Mission - maintain reasonable level of employment
http://www.federalreserve.gov/BOARDDOCS/SPEECHES/2002/20021121/default.htm
the Bernanke Speech re deflation..not here has many interesting technical points..recommend a look. It also displays how the fed is off mission regarding benefitting society...price stability is the primary concern it seems and all else is other - which includes maintaining a reasonable level of employment. Directing almost all bailout money to banks which have kept the money as excess reserves has done nothing for money supply and velocity of money. A clue is this quote, " Deflation per se occurs only when price declines are so widespread that broad-based indexes of prices, such as the consumer price index, register ongoing declines." You see here that reality for these economists is at least once removed from the actual economy where people need to work to spend money to increase "aggregate demand" and to live; but the talk, mathematical, methodological, theoretical never descends to the underlying reality of the economy where unprecedented numbers of workers are unemployed, underemployed, part-timed or just statistically forgotten. The reality for Bernank is price indices. If the thinking doesn't even touch the reality, these guys should not be in any position to "run" anything that affects reality; they are failing and will fail since they are functioning in an unrelated delusional-theory-world unrelated to the actuality that is transpiring. While they fiddle with their shit ideas and ignore their assigned mission which is far broader than price stability, America smolders slowly to the ground. Perhaps the American economic engine will pull us out of this one; it will be in spite of the Fed and Bernanke and Obama and BP and it will be a shame that if it does pull out, an after effect will be falsely validating the actions of imbeciles which in any terms are amounting to crimes against the people.
The reason employment at reasonable levels is important is that without employment at reasonable levels demand suffers most; there is little reason for employers to hire once this stage is reached -- this is worse than the housing price deflation which was really an asset/credit deflation which could have been fixed by marking the losses to market and closing all the banks or the divisions that made bad credit decisions instead of giving money to the very institutions that screwed up, at tax payer expense with no benefit ultimately for anyone-- including the bailed banks which too will fail in a deflated economy.
All the tools the fed has are useless if they are not directed towards increasing employment...this is where the tools fall short since they are market manipulative tools and not tools to redistribute money. Arbitrarily low rates in the name of inflation control constrict all capitalist action which ultimately seeks yields. The Fed is now the liquidity trap and should be abandoned or taken under control of the government --a new government that has a clue.
the Bernanke Speech re deflation..not here has many interesting technical points..recommend a look. It also displays how the fed is off mission regarding benefitting society...price stability is the primary concern it seems and all else is other - which includes maintaining a reasonable level of employment. Directing almost all bailout money to banks which have kept the money as excess reserves has done nothing for money supply and velocity of money. A clue is this quote, " Deflation per se occurs only when price declines are so widespread that broad-based indexes of prices, such as the consumer price index, register ongoing declines." You see here that reality for these economists is at least once removed from the actual economy where people need to work to spend money to increase "aggregate demand" and to live; but the talk, mathematical, methodological, theoretical never descends to the underlying reality of the economy where unprecedented numbers of workers are unemployed, underemployed, part-timed or just statistically forgotten. The reality for Bernank is price indices. If the thinking doesn't even touch the reality, these guys should not be in any position to "run" anything that affects reality; they are failing and will fail since they are functioning in an unrelated delusional-theory-world unrelated to the actuality that is transpiring. While they fiddle with their shit ideas and ignore their assigned mission which is far broader than price stability, America smolders slowly to the ground. Perhaps the American economic engine will pull us out of this one; it will be in spite of the Fed and Bernanke and Obama and BP and it will be a shame that if it does pull out, an after effect will be falsely validating the actions of imbeciles which in any terms are amounting to crimes against the people.
The reason employment at reasonable levels is important is that without employment at reasonable levels demand suffers most; there is little reason for employers to hire once this stage is reached -- this is worse than the housing price deflation which was really an asset/credit deflation which could have been fixed by marking the losses to market and closing all the banks or the divisions that made bad credit decisions instead of giving money to the very institutions that screwed up, at tax payer expense with no benefit ultimately for anyone-- including the bailed banks which too will fail in a deflated economy.
All the tools the fed has are useless if they are not directed towards increasing employment...this is where the tools fall short since they are market manipulative tools and not tools to redistribute money. Arbitrarily low rates in the name of inflation control constrict all capitalist action which ultimately seeks yields. The Fed is now the liquidity trap and should be abandoned or taken under control of the government --a new government that has a clue.
17 July 2010
Other Views on BP Capping Well in July 2010 -back-out-logic -editorial
If you want to plug the leak in the well below the top of the well, once you get the "relief" wells drilled
well then, you cap the well so the mud and cement flows out the breaks in the well below the surface....-you had to do it anyway rational for the latest BP BS.(also you now know pressure level which when exceed means the middle-kill is closing the leaks...& all it takes is a v-shaped "roof'" adjacent and above the leak and and the oil can migrate elsewhere to emerge from the sea bed miles away...)
...BP stock recovers (it has a bit) when BPUSgov lie there is no oil flowing out of the well (i.e. not out the capped top a diversion lie) while asserting there is no apparent leak in the well even though the pressure does not rise to the expected level...this benefits British pensioners a bit whose pensions depend on BP stock price...before some other company buys out BP, in effect killing off the "corporate person" BP now is...how do the liabilities transfer? Immense liabilities if not brushed under the rug as it seems will be the case...
When now, the U.S. governement seems to be calling the shots (Secretary of Energy Chu) does that then somehow absolve BP of responsibility hereon since they are not calling the shots?
Our Government, oh what the heck lets say Obama, seem to be treating BP rather favorably considering
they effectively destroyed most, if not all of our southern coast, for some time if not forever..because they are greedy stupid bastard criminals.
Reminder: Oil Companies should not drill where they do not know how to and where in fact it may be impossible to drill safely at all, ---a mile deep under water into huge gas oil reserves tenuously capped with a layer of salt...GOM. There is no national security concern that should allow drilling which endangers national security and already has destroyed portions of the country - not "threatened to." The U.S. Government is now merely a corporate pawn felon ongoing until it is replaced...and still the sheeple chew their cud. Policy based on "threats" anyone see a problem with that?
well then, you cap the well so the mud and cement flows out the breaks in the well below the surface....-you had to do it anyway rational for the latest BP BS.(also you now know pressure level which when exceed means the middle-kill is closing the leaks...& all it takes is a v-shaped "roof'" adjacent and above the leak and and the oil can migrate elsewhere to emerge from the sea bed miles away...)
...BP stock recovers (it has a bit) when BPUSgov lie there is no oil flowing out of the well (i.e. not out the capped top a diversion lie) while asserting there is no apparent leak in the well even though the pressure does not rise to the expected level...this benefits British pensioners a bit whose pensions depend on BP stock price...before some other company buys out BP, in effect killing off the "corporate person" BP now is...how do the liabilities transfer? Immense liabilities if not brushed under the rug as it seems will be the case...
When now, the U.S. governement seems to be calling the shots (Secretary of Energy Chu) does that then somehow absolve BP of responsibility hereon since they are not calling the shots?
Our Government, oh what the heck lets say Obama, seem to be treating BP rather favorably considering
they effectively destroyed most, if not all of our southern coast, for some time if not forever..because they are greedy stupid bastard criminals.
Reminder: Oil Companies should not drill where they do not know how to and where in fact it may be impossible to drill safely at all, ---a mile deep under water into huge gas oil reserves tenuously capped with a layer of salt...GOM. There is no national security concern that should allow drilling which endangers national security and already has destroyed portions of the country - not "threatened to." The U.S. Government is now merely a corporate pawn felon ongoing until it is replaced...and still the sheeple chew their cud. Policy based on "threats" anyone see a problem with that?
Our British All-Lies: Business Before Lockerbie, Shell Oil, Senator McCain too
U.S. and British Governments work for Oil Companies not their Nations' People....
Seems since last September http://newztekmisk.blogspot.com/2009/09/britains-own-euro-mediterranean.html the British Embassy web site in Tripoli has been "sterilized" as then as I recall it rather gloried in the new found intimacy between Britain and Libya around the time of the release of the Lockerbie bomber prisoner....the archive is not accessible either since the archives seem only to go up to 2008....
This article has so far not been tampered with:
Europe August 24, 2009, 12:19PM EST Trade Between Britain and Libya Set to Soar
http://www.businessweek.com/globalbiz/content/aug2009/gb20090824_183632.ht
Britain's trade with Libya could soar following the release of the Lockerbie bomber, as the North African country embarks on a massive building programme.
In the first five months of 2009, UK exports to Libya were already up by 48 per cent to £165.4m on the same period in 2008, while UK imports from Libya—mainly oil—were up 48.5 per cent on 2008 at £966m, a rise of 66 per cent on 2007.
Most of the companies already exporting to Libya are involved in supplying industrial machinery and engineering services and include Biwater, AMEC, Halcrow, JCB, Rentokil (RTO.L) and Corus as well as oil companies such as BP (BP). The oil giant is one of the most involved in Libya, having launched a $1.3bn gas exploration programme last year, and having recently signed a £545m deal to drill for Libyan oil. Fellow giant Shell is also one of the largest investors in Libya. Analysts say that if the oil fields reach their target yield, then BP could spend more than £10bn over the next decade on exploration and drilling. --Shell Oil which Obama recently asked to consider buying BP....
UK and Libya kick off double taxation convention.April 2008
http://www.accountancyage.com/accountancyage/news/2262058/uk-libya-kick-double-taxation
Secret documents uncover UK's interest in Libyan oil Negotiations fuel rumours of commercial deal behind Megrahi's release
Terry Macalister The Observer, Sunday 30 August 2009
Libya has been courted by government ministers and Foreign Office mandarins on a dozen or more occasions in pursuit of lucrative oil and gas contracts.
Documents obtained by the Observer show ministers and senior civil servants met Shell to discuss the company's oil interests in Libya on at least 11 occasions and perhaps as many as 26 times in less than four years.
Foreign secretary David Miliband and the former Labour leader Lord Kinnock were involved in the meetings with Shell about its business in Libya or Egypt.
The revelations, showing that the government invested large amounts of political capital in securing North African oil, lend weight to claims that commercial interest lay behind last week's decision to release the Lockerbie bomber, Abdelbaset al-Megrahi, from jail in Scotland to receive a hero's welcome in Libya.
Gordon Brown has insisted that Whitehall had no involvement in the release, but critics of the government say the information obtained by the non-governmental organisation, Platform, via a Freedom of Information Act request, raises fresh questions. "These documents show the deep and long-term foreign policy backing provided by the British government to Shell in its efforts to break into Libya. Corporate executives have easy access to the highest level of Whitehall, while democracy advocates and social movements remain shut out on the street," said Mika Minio-Paluello, a campaigner with Platform.
"Yet again, the Foreign Office has prioritised securing new oil reserves for private corporations over human rights, the environment or democracy. Foreign policy should represent people's interests, not corporate interests. As a first step, the government must open its files and disclose the true level of oil influence on government decision-making." http://www.guardian.co.uk/world/2009/aug/30/libya-oil-shell-megrahi
From The Sunday Times August 23, 2009
The Libyan Ultimatum Despite denials, talk persists of pressure and plots behind the freeing of the Lockerbie bomber
http://www.timesonline.co.uk/tol/news/politics/article6806482.ece
The reality is that Megrahi’s freedom is a product of the effort to bring Libya out of dangerous isolation. This is as much to America’s advantage as Britain’s, but Washington has too much baggage to be openly involved...
...a congressional delegation led by Senator John McCain, the former Republican presidential candidate, was in Libya.
McCain reported on Tuesday via Twitter, the instant internet messaging site, that he had met Gadaffi, whom he described as “an interesting man”. McCain was reported by the Libyan news agency to have praised Gadaffi’s peace-making efforts in Africa and to have called for expanded US ties with Libya. Exxon and Chevron, the American oil giants, are among companies vying for lucrative new exploration contracts.
from the sanitized Tripoli Embassy today
http://ukinlibya.fco.gov.uk/en/about-us/working-with-libya/shared-tradition
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