Main Street, Town Square, Turdville

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Mon, Apr 13, 2015 - 8:46am
DeaconBenjamin
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Iran suspends Haj pilgrimage protesting sexual assault

https://en-maktoob.news.yahoo.com/iran-suspends-haj-pilgrimage-protestin...

So now Iran is blocking its citizens from attending the haj? The just-short-of-war battling between Iran and Saudi Arabia continues to escalate.

Mon, Apr 13, 2015 - 8:48am
DeaconBenjamin
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China commodities imports resume after holiday but demand weak

Mon, Apr 13, 2015 - 9:23am
Hammer
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So some here would suggest

So some here would suggest (judging by the confidence in their assertions) that the government is fully in control of their borrowing going forward and their ability to pay back what they have already borrowed (with interest) right ? (how ?) The only way is by raping the common man and woman via taxes, fines, pillaging pension funds, you name it any way they see fit.

(p.s. yen dollar volatility after recent comments today)

"I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works." - Alan Greenspan, October 2008 WTF ! Now you tell us !!!
Mon, Apr 13, 2015 - 10:36am
Alonzo Jazzberry
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@Hammer - I can take that one

I'm not sure why you think paying back the existing debt is so difficult. When we're borrowing at negative real interest (i.e. less than even a paltry rate of inflation), paying it back is trivial without taking in another penny of tax revenue, and it really doesn't make sense to ever pay it down (i.e. we should just make the normal debt payments). It's free money even with terrible economic growth. Our existing debt ratio is of almost no concern to me.

Now future entitlement obligations? I'm right there with you - they are scary as hell. If we don't reform social security and the various medical obligations, we are going to face some difficult decisions in 5-10 years. This may indeed take the form of a tax structure more similar to the european countries.

Would that be sustainable? I certainly wouldn't want to be europe right now. So yea, it's a huge concern. What I wonder about is why the Zero Hedge-led contingent started thinking that collapse was imminent 6 years ago. It was blatantly obvious to me that no such collapse was going to happen, and it's blatantly obvious to me that no such collapse is imminent now. Anyone who was betting on such a collapse and 'planning accordingly' has hopefully learned better than to trust those people that convinced them that was the case. Could things spiral out of control in 10 years? Of course. I hope they don't, and I hope we can reform entitlements before it gets really dangerous.

Mon, Apr 13, 2015 - 11:22am (Reply to #3684)
zman
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Hammer wrote: So some here

Hammer wrote:

So some here would suggest (judging by the confidence in their assertions) that the government is fully in control of their borrowing going forward and their ability to pay back what they have already borrowed (with interest) right ? (how ?) The only way is by raping the common man and woman via taxes, fines, pillaging pension funds, you name it any way they see fit.

(p.s. yen dollar volatility after recent comments today)

"the government is fully in control of their borrowing going forward and their ability to pay back"

This is true, the interest the US pays on the debt is less than it was 10 years ago, as long as interest rates remain low because of the low growth economic policies put into place, all is good.

Mon, Apr 13, 2015 - 6:52pm
buzlightening
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ROTFL No comment necessary!

Tue, Apr 14, 2015 - 12:51am
DeaconBenjamin
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Saudi expands foreign ties beyond traditional ally US

Saudi Arabia gave a royal welcome to France's Foreign Minister Laurent Fabius during a visit that highlighted a deepening of ties with major powers beyond traditional ally the United States.

Fabius, on his Saturday-Sunday visit, was welcomed more as a head of state than a minister, meeting the entire leadership of the kingdom. "I'm not surprised, given the momentum that the relationship has taken in the last few years," said Asaad al-Shamlan, a political science professor at Riyadh's Institute of Diplomatic Studies. Fabius met King Salman, Crown Prince Moqren, Deputy Crown Prince and Interior Minister Mohammed bin Nayef, along with the king's son Defence Minister Mohammed bin Salman, who leads the kingdom's war against Shiite Huthi rebels in Yemen.

* * *

Shamlan, of the Institute of Diplomatic Studies, said that despite some strains the overall relationship between Saudi Arabia and the US is "very good". "The value of the relationship is very much appreciated by both sides," he said, and a strengthening of ties with France or other countries does not come at the expense of links with the US.

"There's no contradiction between having a close relationship with the United States and having a close relationship with France or Britain and certainly with China," he said.

https://en-maktoob.news.yahoo.com/saudi-expands-foreign-ties-beyond-trad...

Didn't Jim Willie say something about the Saudis' frustration with the US?

Tue, Apr 14, 2015 - 12:55am
DeaconBenjamin
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Oil prices rise on expected dip in U.S. shale output

https://en-maktoob.news.yahoo.com/oil-prices-rise-expected-u-shale-produ...

Don't tell the BLS. Any loss of employment in the shale oil fields would be "unexpected."

Tue, Apr 14, 2015 - 1:12am
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Australia deploys 330 more troops to Iraq in training mission

https://en-maktoob.news.yahoo.com/australia-deploys-330-more-troops-iraq...

Why?  And why place them near the front if they are just doing training?

Tue, Apr 14, 2015 - 9:51am
Hammer
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The government is stymied.

The government is stymied. Japan and China alone are owed two trillion by Americans as it is (I'm sure they don't mind the increase in the dollar recently) . It is one thing to have borrowed from your own citizens' earnings but quite another to have borrowed from other countries' citizens. That is the insular nature of most Americans' views - alas they fail to see the bigger picture.

Even zman has taken to "as long as........" to support his argument.

Pensions are massively underfunded. The taxes that are being paid now are going to try to pay off debts/promises from years ago. The borrowing now combined with that of the past is now combined to guarantee a much lower standard of living for those in the future as they struggle to pay it all back whilst also struggling to pay for normal services both now and going forward (hospitals/military services/firemen/women/teachers/municipal workers /ambulancemen/women etc and all their wages/pensions etc etc)

As the quote goes, "...Neither a borrower nor a lender be.....For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry. "

"I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works." - Alan Greenspan, October 2008 WTF ! Now you tell us !!!
Tue, Apr 14, 2015 - 4:00pm
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Some help please

I wanted to find the youtube video of Lyndon Johnson's remarks at the signing of the Coinage Act where he states...

"If anybody has any idea of hoarding our silver coins, let me say this. Treasury has a lot of silver on hand, and it can be, and it will be used to keep the price of silver in line with its value in our present silver coin. There will be no profit in holding them out of circulation for the value of their silver content."

I have watched the video of this speech in the past but I can't seem to find it now. Any help will be greatly appreciated, mahalo in advance.

Tue, Apr 14, 2015 - 7:35pm
Hammer
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Food for thought (although

Food for thought (although watch out for that H and S pattern developing on the us dollar au chart developing)

https://www.telegraph.co.uk/finance/economics/11535849/IMF-fears-cascade-of-woes-as-Fed-crunch-nears.html

"I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works." - Alan Greenspan, October 2008 WTF ! Now you tell us !!!
Tue, Apr 14, 2015 - 8:07pm
Hammer
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Eighteen: When the great Tao

Eighteen: When the great Tao is forgotten, goodness and piety appear. When the body's intelligence declines, cleverness and knowledge step forth. When there is no peace in the family, filial piety begins. When the country falls into chaos, patriotism is born. Tao Te Ching by Lao Tzu.

"I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works." - Alan Greenspan, October 2008 WTF ! Now you tell us !!!
Tue, Apr 14, 2015 - 11:15pm (Reply to #3692)
cliff 567
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silverwood

I can not say that I can help you silverwood but I can say that I was in San Francisco and at the early AM hours I watched Cspan play live GWBush greeting the pope with his entourage, Bush was smirking as Andrew Card knelt and kissed the invalid, frail pope's ring. There were other shocking missteps of decorum committed by our leaders in that section. 

I have searched for that clip extensively, would a cspan photo clip of the president of the usa with the pope of the roman church not be preserved?

Look into a book called 'Fortunate Son' by Hatfield and it's problems with publications. Also check back to the oj simpson book that was already in the stores that was completely recalled and destroyed.

It ain't light weights that we are up against.

I do remember reading that quote, source eludes me.

cliff

Wed, Apr 15, 2015 - 2:23am (Reply to #3684)
Spartacus Rex
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@ Hammer - Well Look What The Cat Finally Managed To Drag In...

Welcome back Brother, or better yet Fresh Papa smiley

What? 5-6 WEEKS now? angry

How long are you going to keep me in suspense?

Grace? Meg? Hanai? Hannah? Harriet?

 Bloody Pommy! cheeky

Thieves Like Us - So Clear

Cheers, S. Rex

Wed, Apr 15, 2015 - 2:46am (Reply to #3692)
Spartacus Rex
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@ Silverwood Re: Help

silverwood wrote:

I wanted to find the youtube video of Lyndon Johnson's remarks at the signing of the Coinage Act where he states...

"If anybody has any idea of hoarding our silver coins, let me say this. Treasury has a lot of silver on hand, and it can be, and it will be used to keep the price of silver in line with its value in our present silver coin. There will be no profit in holding them out of circulation for the value of their silver content."

I have watched the video of this speech in the past but I can't seem to find it now. Any help will be greatly appreciated, mahalo in advance.

I am not aware of any existence on Youtube of such a video of that particular incident at anytime whatsoever.

Not saying that such does not exist, however in any remote possibility of such, it would either be from a Network News source (ergo Copyright protected, thus taken down without appropriate permission to rebroadcast) or perhaps a private film made by an invitee who later, inexplicably(?) took such down off of Youtube.

Yet, there is no Record of such recorded film/ video data existing, either in the LBJ Library, or other various University LBJ Collection Archives.

LBJ's remarks re: Coinage Act of 1965 / Public Law 89-81, 79 Stat. 254, of which you are referring to, occurred on 23 July 1965 in the Rose Garden at the White House. (thus any such video would've reflected an outdoor setting)

The actual written transcript of same can be found @

https://www.presidency.ucsb.edu/ws/?pid=27108

Cheers, S. Rex

Wed, Apr 15, 2015 - 9:37am
Hammer
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lol. None of the above as it

lol. None of the above as it turned out.

I'll give you a hint

Her name is not the first one you might think of but the second you look for in the real world.

The hint :

マサン

"I found a flaw in the model that I perceived is the critical functioning structure that defines how the world works." - Alan Greenspan, October 2008 WTF ! Now you tell us !!!
Wed, Apr 15, 2015 - 12:02pm
DeaconBenjamin
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European Parliament to regulate conflict minerals

European Parliament’s Trade Committee wastes ground-breaking opportunity on conflict minerals

14 April 2015

Joint Civil Society Public Statement

Today the European Parliament's Committee on International Trade (INTA) wasted a ground-breaking opportunity to tackle the deadly trade in conflict minerals. The Committee voted in favour of a weak and ineffective law that, if passed, would undermine global attempts to clean up the trade. It would require only a tiny number of companies importing four key minerals into Europe to source them responsibly and transparently.

INTA has failed to extend the legal requirements to the vast majority of companies involved in the trade, such as manufacturers, traders and companies importing products that contain these minerals. It also fails to regulate foreign actors that supply to European companies. Although we welcome a mandatory approach, this excessively narrow scope will likely fail to make a meaningful and lasting impact on a trade that fuels conflict and human rights abuses in countries like the Democratic Republic of Congo, Colombia, and Zimbabwe.

Civil society is calling on the European Parliament to strengthen the law when it votes in mid-May.

Despite millions of euro worth of tin, tungsten, tantalum and gold entering the EU every year from high-risk and conflict-affected areas, the EU has so far put no legislation in place to ensure these minerals are sourced responsibly.
Today's vote in INTA follows a weak legislative proposal put forward by the European Commission in March last year. Under this proposal, responsible sourcing by importers of tin, tantalum, tungsten and gold would be entirely optional. The Commission's proposed voluntary self-certification scheme would be open to approximately 300-400 companies—just 0.05% of companies using and trading these minerals in the EU, and would have virtually no impact on companies' sourcing behaviour.

https://www.cidse.org/articles/content/articles/business-a-human-rights/...

Don't get me wrong, I would support an economic boycott of the thug Mugabe's regime. But once you have such a requirement of "responsible sourcing" in place, do you have to provide provenance for what you possess? Will pre-ANC Krugerrands be subject to seizure? Nazi silver coins? Coinage produced under Franco?

Wed, Apr 15, 2015 - 12:15pm
DeaconBenjamin
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Chinese investment key to overcome Pakistani power shortage

The official sources told APP here that China's investment in hydel, coal, solar, wind and nuclear electricity generation was key to cope with power demand and future needs of the country.

Presently, China is providing financial assistance worth $ 14 billion in various power generation projects that will generate 10400 MW by 2017-18 in first phase.

Among the projects approved by the Chinese government included Port Qasim (Coal Fired) to generate 1320 MW, Sukki Kanari (Hydropower) 870 MW, Sahiwal (Coal Fired) 1320 MW, Engro Thar (Coal Fired- Mining of Block 2) 660 MW, Muzaffargarh (Coal Fired) 1320 MW, Gwadar (Coal fired) 300 MW, Quaid-e-Azam Solar Park (Cholistan) 1000 MW, United Energy (Wind power,Karachi) 100 MW, Dawood (Wind power,Karachi) 50 MW, Sachal (Wind power) 50 MW, Sunnec (Wind power) 50 MW, Rahimyar Khan (Coal fired) 1320 MW, SSRL Thar (Coal fired) 1320 MW and Karot (Hydropower) 720 MW.

The sources said that in addition, there were few other power generation projects totaling to 6445 MW which would be completed in the second phase on fast track basis.

They said no loan was taken from China for these power projects of 10,400 MW adding the Chinese companies were making $ 14 billion direct foreign investment in power sector.

The Chinese banks would provide loans to the executing companies of these power projects and Pakistan would only pay tariff to the companies for 20-25 years as per the agreements, they said.

Besides coal, hydel, wind, solar and nuclear resources, the government is also optimizing R-LNG which is another vital source of generating cheaper megawatts.

China has also committed to providing assistance for the construction of a major nuclear power project in Karachi and the Prime Minister Nawaz Sharif had already broke ground on the $9.59 billion project.

https://www.brecorder.com/top-news/1-front-top-news/238379-chinas-invest...

AIIB?

Wed, Apr 15, 2015 - 9:15pm
DeaconBenjamin
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Ousted Ukraine president's ally found shot dead in Kiev home

  • Oleg Kalashnikov was a member of Viktor Yanukovych’s parliament
  • Six Yanukovych-era government officials have died over last two months

A former ally of deposed Ukrainian president Viktor Yanukovych has been found shot to death in his home in Kiev.

The Ukrainian interior ministry said Oleg Kalashnikov, a former member of the Ukrainian parliament, was found dead Wednesday evening. It said he had died of gunshot wounds but did not say whether it was believed to be homicide or suicide.

Kalashnikov was a deputy for the Party of Regions in Ukraine’s previous parliament.

At least six former Ukrainian government officials from Yanukovych’s time have died over the past two months in various circumstances that police have said were most likely suicides.

Yanukovych fled in February 2014 after months of increasingly violent protests. He later resurfaced in Russia.

https://www.theguardian.com/world/2015/apr/15/ousted-ukraine-president-a...

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