Non-sports events to watch this weekend

Fri, Oct 11, 2013 - 3:04am

It is relatively easy to bemoan the state of the world, and once having recognized its condition and trajectory, to try to prepare oneself for the future by whatever and all means necessary and available. It is quite another to actively participate in bringing about a change in the status quo, rather than just react and adapt to it.

This outfit certainly seems determined to be an active part of the solution: Truckers Ride for the Constitution. The idea of slowing/stopping traffic as a means of civil disobedience and protest is a relatively established one, I’ve encountered several region/nationwide stoppages elsewhere. If 25K cabdrivers can shut down a small country for days (absent violent military response), 10K semis should be able to handle a town this size. In the US, whose supply chains depend heavily on interstate ‘highway trains’, the effect of such an endeavor would be doubly felt. I would probably have gone with a more positive verb than 'Shut Down' (a la T2SDA, but perhaps that is literally what is necessary for more people to become aware of reality.

I’m reserving judgment about the enterprise for now , but the idea of snarling 495 in a constant (even more so than currently, anyway) traffic jam does hold a delicious irony, provided this at least in a small way inconveniences some of the overlords of the world gathering in DC the same weekend (see below). If the action results in more than an invisible, brief ripple on the political landscape and wakes a few people up, I will be impressed.

Given the scant attention (and not so subtle demonization) in MSM, and the rather unorthodox manifesto, we will see whether this has a real impact and gets legs, or if it really will be the flash in the pan US News imagines.

“A similar three-day protest in 2007, against illegal immigration and competition from Mexican truckers, did not spoil commutes as feared, the Washington Examiner reported.”

The SPLC has already helpfully weighed in and made up our minds for us:

“The only aspect of the planned protest that is clear is that it is fueled by conspiracy theories regarding President Obama and fears about an imminent economic collapse," SPLC said in a statement Tuesday. "And it is being promoted by antigovernment 'Patriots' and radio-show hosts with a history of far-right agitation."

I am also, however, slightly worried as to whether it might seem like an opportune moment for an agitator (or two) to raise the visibility of the threat that people who regard the Constitution as a living document pose to average, working American drones, err… citizens. Not to mention those chaos-mongers who are worried about the fragility of the economy. If the opportunity for some demonstration of the effectiveness of all the paramilitary training, equipment and personnel major urban centers, and especially the capital have received, should present itself, well…. Would that be a terrible thing for an entity seeking to display its own necessity and omnipotence at the same time?

[Late edit: the movement’s website and facebook pages have been shut down. It seems there really MAY be something to this effort if 'they' are trying to erase it. I am curious to see whether radios will be jammed to prevent communication. I am even more worried about any possible large-scale response that would give them a chance to flex the muscles of Fatherland Security, Inc.]

But speaking of overlords, there are other doings afoot in the quadrangle on the former marshland betwixt Maryland and Virginia. The World Bank is having its annual global meeting in town this very weekend.

“Finance ministers and central bankers from around the globe are gathering in Washington this week for meetings of the International Monetary Fund and World Bank. In addition, finance officials from Group of 20 nations are meeting on the sidelines.” -- Reuters, full program at the link.

Details on WB side of the events (including live webcasts) are at the WB site and blog. If you want, you can also check out ChristineL’s outfit at the I(MF)MF. The meetings all but promise to show humanity how to turn water into wine, and lead into gold. Speaking of which, could the continuity of global fiat currency regime be on the table amidst all the meetings to end poverty, hunger and teach the world how to better steward water resources?

(Caption contest?)

From right, Chairman of the U.S. Federal Reserve Ben Bernanke, Undersecretary of International Affairs at the U.S. Treasury Department Lael Brainard, World Bank President Jim Yong Kim and Chief of the International Monetary Fund Christine Lagarde attend a group photo ceremony at a meeting of G20 Finance Ministers and Central Bank Governors in Moscow, Russia, Saturday, Feb. 16, 2013. (AP Photo/Misha Japaridze)

Janet Yellen , nominated to lead the Federal Reserve American, Christine Lagarde , the president of the International Monetary Fund, Elvira Nabiullina , at the helm of the Bank of Russia (larger image @ Libero Quotiniado)

While the annual meetings of such venerable institutions are coordinated and planned well in advance, isn’t it an interesting co-incidence of factors and events converging in this one particular quantum of time – Jackson Hole-skipping BennyS spending more time with family, the Bag(holder)lady is introduced onstage, and is being given her makeup and costume in the dressing room. The ‘shutdown’ of what is supposed to be government, the looming debt ceiling cliff, the largest money market fund dumping short-term notes to avoid 'breaking the buck', with Bill Gross buying on the other end

And there is more:

“The protest has been organized by individuals with various connections to the military, either as children of veterans, spouses of veterans or those who have served themselves, who are outraged and deeply disappointed that individuals who have served in the military have been blocked from the memorials honoring their service across the country. […]

The Million Vet March’s Facebook event page has over 23,000 “likes” and states that almost 2,000 individuals have committed to attending.”

There are two curious elements here: the government’s perplexingly focused attention to veterans and their memorials (Vietnam, WWII) recently:

“The Obama administration has been very selective in devoting resources to shutting down memorials.”

…and the apparent direct reaction on the part of the populace that has long suffered (supposedly on our behalf) to this pressure. This on the heels of the events at the DC naval facility, and the self-immolation on the National Mall witnessed and all but snuffed out in MSM as a story of any consequence -- just some crazy folks doing crazy things, nothing to see here, move along. I have no idea if the mother shot on the Mall should be in this list, but what the heck, we are discussing coincidence, pure and simple. Right…? The Times of India is already speculating as to the societal and race-relations aspect of these stories, while bringing down Libertarians as “the small cabal of Tea Party lawmakers represent a mostly-white constituency in Middle America that resents against any government role”.

In the meantime, media in the US is aflutter with speculation about negotiation of the terms of continuing corruption, err... I mean legislation and governance, and seemingly uninterested in anything that is not related to violent crime, corruption, or network/cable TV programming.

In Moscow today:

Leakers and whistleblowers in Moscow to give fugitive Edward Snowden award

What a colorful tapestry they weave… Keep your eyes and ears open this weekend, it has a significant amount of interesting events all happening at the same time. The air is full of the flaming, spinning batons, the stage smoke is heavy all about. It’s not like there is flammable material around or anything.

Now if only one could see what all the misdirection might be hiding. Chances are, things will trundle along on their downward trajectory without much interruption. But if there is to be any kind of reaction other than resigned acceptance to the state of affairs, it will begin with things like these. ‘Ordinary’ people standing up for themselves and each other. Maybe not this weekend. But the mere existence of such blips holds the possibility of a directional change in the thinking and actions of the citizenry, and as such should not be dismissed out of hand. Many significant shifts in history began with seemingly inauspicious and localized events.

About the Author


Oct 11, 2013 - 4:54am

Lemme get this straight. The

Lemme get this straight. The Government of United States of America is afraid of a bunch of truckers driving slowly ? Whoa. The French have been using this tactic for decades as a legitimate form of protest and the mighty US of A is running scared. Whoa. Game over. Thank you for playing.

Oct 11, 2013 - 5:14am

Do it truckers, do it !

Do it truckers, do it !

Smokey and the Bandit.The legend.Jerry Reed
Oct 11, 2013 - 5:15am

thinking to themselves -

Lagarde and Benny are both thinking to themselves - "fucker is wearing my tie"

or everyone cept Benny is thinking, "fucker can't even cross his legs the right way"

Meanwhile, benny is thinking, "mmmmm, chocolate pudding........"

and the woman in the middle is thinking, "If that bastard in the blue tie puts his hand any nearer my ass, I'm gonna ...."

and the Asian dude is thinking to himself, "What the hell am I doing sitting next to these third world seriously, what am I doing here sitting next to them....."

Oct 11, 2013 - 6:42am

Supply chains

If nothing got delivered inside the Beltway for 3 days, I wonder how grocery stores and gas stations would get along.

The people will remember the attitudes of the Park rangers and the Obama regime against veterans after this is over. The mean-spiritedness of his "shutdown" theatre I'm sure has changed a lot of attitudes towards government (except for the 50K or so that watch Rachael Maddow in the back seat of their limo or East Side condo).

Oct 11, 2013 - 7:30am

Taleb - author of The Black

Taleb - author of The Black Swan. I recommend everyone watch this.

Taleb's fragile world, Part One
Oct 11, 2013 - 8:08am

These Four have a

meeting scheduled with their new boss...

They haven't been told who it is...


This Guy...

Irish Wanking Bankers - An Irishman Abroad.

Oh, to be a fly on the wall @ that meeting

JY nice post

Oct 11, 2013 - 8:55am

Significant Development

ECB Agrees on Swap Line With PBOC as Trade Increases By Jana Randow and Maria Levitov
October 10, 2013 1:51 PM EDT The swap line will be valid for three years and have a maximum size of 350 billion yuan ($57 billion) when Chinese currency is provided to the ECB and 45 billion euros when money is given to the PBOC, the Frankfurt-based central bank said in an e-mailed statement today. Photographer: Nelson Ching/Bloomberg

The European Central Bank and the People’s Bank of China agreed to establish a bilateral currency swap line, bolstering access to trade finance in the euro area and strengthening the international use of the yuan.

The swap line will be valid for three years and have a maximum size of 350 billion yuan ($57 billion) when Chinese currency is provided to the ECB and 45 billion euros ($61 billion) when money is given to the PBOC, the Frankfurt-based central bank said in an e-mailed statement yesterday. The arrangement is available to all Eurosystem counterparties via national central banks, it said.

“The swap arrangement has been established in the context of rapidly growing bilateral trade and investment between the euro area and China, as well as the need to ensure the stability of financial markets,” the ECB said. “From the perspective of the Eurosystem, the swap arrangement is intended to serve as a backstop liquidity facility and to reassure euro area banks of the continuous provision of Chinese yuan.”

PBOC Governor Zhou Xiaochuan pledged on June 28 to expand cross-border use of the yuan, also known as the renminbi, and encourage multinational companies to include the currency in their asset portfolios. China will allow direct trading between the yuan and foreign currencies and push for more convertibility without giving up control of capital flows, Zhou said.

‘Wider Flexibility’

“It’s a reflection of the increasing bilateral trade and a measure to accompany China’s push for wider flexibility in the exchange rate,” said Stefan Schneider, chief international economist at Deutsche Bank AG in Frankfurt. “China is integrating itself more and more into global financial markets and such agreements are part of that.”

China is the European Union’s second-largest trading partner after the U.S. The 28-nation bloc exported 71.4 billion euros of goods to China in the first six months of this year, with imports totaling 133.6 billion euros, according to the latest Eurostat data.

The Bank of England was the first in a race among European central banks to establish swap facilities with China, when it agreed on a line of 200 billion yuan and 20 billion pounds ($32 billion) in June. China, the world’s second-largest economy, has similar agreements with countries including Australia, Turkey, Brazil, South Korea and Malaysia.

Hong Kong has the largest swap agreement at 400 billion yuan, followed by South Korea with 360 billion yuan, with the ECB’s 350 billion yuan the third-biggest, according to PBOC data. The ECB swap line is smaller than initially anticipated. Frankfurt Main Finance, a lobby group based inGermany’s financial capital, said in July the facility may be as much as 800 billion yuan.

‘Symbolic Importance’

London as the global center for currency trading still has the best chances for becoming the European center for trading in the renminbi,” Mark Williams, chief Asia economist at Capital Economics Ltd., said by phone from London. A swap line is “mainly of symbolic importance. It provides a backstop to the use of renminbi abroad,” he said.

Frankfurt is basing its push to become an offshore trading center for yuan on Germany’s close ties with China, the nation’s third-biggest trading partner. The two countries imported and exported goods and services valued at 144 billion euros between them last year, according to the Federal Statistics Office in Wiesbaden, Germany.

‘Significant Amount’

The swap agreement with the ECB “is for a very significant amount,” Christian Noyer, France’s representative on the ECB’s Governing Council, said in a statement. “This reflects the strong position of the euro in terms of international exchange. Euro-zone banks and French banks now have at their disposal the security they need to develop their business in renminbi over the long term.”

The Governing Council will discuss “technical modalities” and their communication in due course, the ECB said.

The yuan was the world’s eighth most-traded currency in August, up from 11th in January 2012, the Society for Worldwide Interbank Financial Telecommunications, or Swift, said in an Oct. 8 statement.

“Yuan is certainly becoming more internationalized,” Williams said. “Users of renminbi in Europe can have more reassurance that in any financial squeeze they would still be able to access renminbi liquidity.”

Oct 11, 2013 - 9:02am
Oct 11, 2013 - 9:04am

Here's a non sporting event.

Here's a non sporting event. Mentioned it here a month ago here. The final figure we raised that evening was 25 million yen or 250,000, usd for a great cause :)

Oct 11, 2013 - 9:04am

Caption contest

"I was once a guest on Jerry Springer. I'm really a man, you know."

"Yes, I saw that episode. Your boyfriend was quite angry to find out"


BTW- Cool page breaks JY, courtesy of the Pauline-Carmelite Monastery in Sopranbanfalva, Hungary! Nice place:

Subscribe or login to read all comments.


Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

Key Economic Events Week of 8/19

8/21 10:00 ET Existing home sales
8/21 2:00 ET July FOMC minutes
8/22 9:45 ET Markit Manu and Svc PMIs
8/22 Jackson Holedown begins
8/23 10:00 ET Chief Goon Powell speaks

Key Economic Events Week of 8/12

8/13 8:30 ET Consumer Price Index
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Labor Costs
8/14 8:30 ET Philly Fed
8/14 9:15 ET Ind Prod and Cap Ute
8/14 10:00 ET Business Inventories
8/15 8:30 ET Housing Starts & Bldg Permits

Key Economic Events Week of 8/5

8/5 9:45 ET Markit services PMI
8/5 10:00 ET ISM services PMI
8/6 10:00 ET Job Openings
8/8 10:00 ET Wholesale Inventories
8/9 8:30 ET Producer Price Index

Key Economic Events Week of 7/29

7/30 8:30 ET Personal Inc/Spending & Core Inflation
7/30 10:00 ET Consumer Confidence
7/31 8:15 ET ADP employment
7/31 2:00 pm ET FOMC Fedlines
7/31 2:30 pm ET CGP presser
8/1 9:45 ET Markit Manu PMI
8/1 10:00 ET ISM Manu PMI
8/2 8:30 ET BLSBS
8/2 10:00 ET Factory Orders

Key Economic Events Week of 7/22

7/23 10:00 ET Existing home sales
7/23 10:00 ET Richmond Fed Manu Idx
7/24 9:45 ET flash Markit PMIs
7/25 8:00 ET Count Draghi/ECB policy meeting
7/25 8:30 ET Durable Goods
7/25 8:30 ET Wholesale Inventories
7/26 8:30 ET Q2 GDP first guess

Key Economic Events Week of 7/15

7/15 8:30 ET Empire State Fed Index
7/16 8:30 ET Retail Sales and Import Price Index
7/16 9:15 ET Cap Ute and Ind Prod
7/16 10:00 ET Business Inventories
7/17 8:30 ET Housing Starts and Building Permits
7/18 8:30 ET Philly Fed
7/19 10:00 ET Consumer Sentiment

Key Economic Events Week of 7/8

7/9 8:45 ET Fed Stress Conference, three Goon speeches
7/10 8:30 ET CGP Hump-Hawk prepared remarks
7/10 10:00 ET CGP Hump-Hawk House
7/10 10:00 ET Wholesale Inventories
7/10 2:00 ET June FOMC minutes
7/11 8:30 ET CPI
7/11 10:00 ET CGP Hump-Hawk Senate
7/11 12:30 ET Goon Williams
7/12 8:30 ET PPI

Key Economic Events Week of 7/1

7/1 9:45 ET Markit Manu PMI
7/1 10:00 ET ISM Manu PMI
7/1 10:00 ET Construction Spending
7/2 6:35 ET Goon Williams
7/3 8:15 ET ADP June employment
7/3 8:30 ET Trade Deficit
7/3 9:45 ET Markit Services PMI
7/3 10:00 ET ISM Services PMI
7/3 10:00 ET Factory Orders
7/4 US Market Holiday
7/5 8:30 ET BLSBS

Key Economic Events Week of 6/24

6/25 10:00 ET New Home Sales
6/25 1:00 pm ET Chief Goon Powell
6/25 5:30 pm ET Goon Bullard
6/26 8:30 ET Durable Goods
6/27 8:30 ET Q1 GDP final guess
6/28 8:30 ET Personal Income and Consumer Spending
6/28 8:30 ET Core Inflation
6/28 9:45 ET Chicago PMI

Key Economic Events Week of 6/17

6/18 8:30 ET Housing Starts and Building Permits
6/19 2:00 ET FOMC Fedlines
6/19 2:30 ET CGP presser
6/20 8:30 ET Philly Fed
6/21 9:45 ET Markit flash June PMIs

Recent Comments

by Belladonna, 14 min 55 sec ago
by Dr Jerome, 1 hour 4 min ago
by mavens, 1 hour 11 min ago
by Blythesshrink, 1 hour 35 min ago

Forum Discussion

by sierra skier, 5 hours 39 min ago
by NW VIEW, 6 hours 40 min ago
by Porros, Aug 21, 2019 - 5:00am
by sierra skier, Aug 20, 2019 - 5:12pm
by zman, Aug 20, 2019 - 4:53pm