Thursday, November 24, 2011

Bank Run in Parts of Europe Underway - Open Letter to CME

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Open Letter to CME here http://inpoints.blogspot.com/ Looking at Spanish short rates now paying 5.22 over three months, its clear that NOBODY wants to touch Spanish Sovereign paper thereby creating a virtual run on the bank. Discussions of the EU president and follow on reactions by Angela Merkel also suggest that deteriorating conditions in Europe will continue to be insolvable. Kicking the can down the road with a Eurobond also seems unlikely. MF Global may shortly become illustrative for new wave of failures triggered by Europe.. Without action and coordination we are once again within days (or a few weeks) from total economic collapse. wepollock Warren Pollock

Chanos Says China Bank System `Extremely Fragile'

Roubini: Europe's Contagion "Has Now Gone Viral...and Global"


"IMF does not have enough resources to bail out the Euro-zone." "Money alone will not fix the problem because of Euro recession." "500 billion is about 1.5 Trillion short of funds required."

Kremlin Statement about the situation around the European ПРО

9 News.Cyber War

Waves of Freedom, Hassan Ghani, fresh out of Israeli Prison

In this edition of the show Roshan Muhammed Salih interviews Hassan Ghani, Press TV correspondent. Ghani was one of the 27 abducted pro-Palestinian activists on board the Gaza-bound 'Waves of Freedom' relief aid flotilla that was intercepted by Israeli military forces on November 4. Ghani was among the last detainees released by the Israeli regime because he refused to sign a document agreeing that he was detained for illegally entering Israeli watersThe Press TV reporter was released and deported to the Turkish city of Istanbul on Friday while his recording devices, laptop, mobile phones and other electronic devices were confiscated by Israeli authorities.

Sun Causes Climate Change Shock - CERN landmark CLOUD experiment


If Michael Crichton had lived to write a follow-up to State of Fear, the plotline might well have gone like this: at a top secret, state of the art laboratory in Switzerland, scientists finally discover the true cause of "global warming". It's the sun, stupid. More specifically – as the Danish physicist Henrik Svensmark has long postulated – it's the result of cosmic rays which act as a seed for cloud formation. The scientists working on the project are naturally euphoric: this is a major breakthrough which will not only overturn decades of misguided conjecture on so-called Man Made Global Warming but will spare the global economy trillions of dollars which might otherwise have been squandered on utterly pointless efforts to reduce anthropogenic CO2 emissions. However, these scientists have failed to realise just how many people – alarmist scientists, huckster politicians,  rent-seeking landowners like (the late Michael Crichton's brilliant and, of course, entirely fictional creation) the absurd, pompous Sir Reginald Leeds Bt, green activists, eco-fund managers, EU technocrats, MSM environmental correspondents – stand to gain from the Man Made "Climate Change" industry. Their discovery must be suppressed at all costs. So, one by one, the scientists on the cosmic ray project find themselves being bumped off, until only one man remains and must race against time to prove, etc, etc…
Except of course in the real world the second part wouldn't happen. No one would need to go to the trouble of bumping off those pesky scientists with their awkward, annoying facts and their proper actual research. That's because the MSM and the scientific "community" would find it perfectly easy to suppress the story anyway, without recourse to severed brake cables or ricin-impregnated hand-washes or staged "suicides".
This is exactly what has happened with the latest revelations from CERN over its landmark CLOUD experiment, whose significance Lawrence Solomon explains here:
The science is now all-but-settled on global warming, convincing new evidence demonstrates, but Al Gore, the IPCC and other global warming doomsayers won’t be celebrating. The new findings point to cosmic rays and the sun — not human activities — as the dominant controller of climate on Earth.
The research, published with little fanfare this week in the prestigious journal Nature, comes from über-prestigious CERN, the European Organization for Nuclear Research, one of the world’s largest centres for scientific research involving 60 countries and 8,000 scientists at more than 600 universities and national laboratories. CERN is the organization that invented the World Wide Web, that built the multi-billion dollar Large Hadron Collider, and that has now built a pristinely clean stainless steel chamber that precisely recreated the Earth’s atmosphere.
In this chamber, 63 CERN scientists from 17 European and American institutes have done what global warming doomsayers said could never be done — demonstrate that cosmic rays promote the formation of molecules that in Earth’s atmosphere can grow and seed clouds, the cloudier and thus cooler it will be. Because the sun’s magnetic field controls how many cosmic rays reach Earth’s atmosphere (the stronger the sun’s magnetic field, the more it shields Earth from incoming cosmic rays from space), the sun determines the temperature on Earth.
So if it's so great, why aren't we hearing more about it? Well, possibly because the Director General of CERN Rolf-Dieter Heuer would prefer it that way. Here's how he poured cold water on the results in an interview with Die Welt Online:
I have asked the colleagues to present the results clearly, but not to interpret them. That would go immediately into the highly political arena of the climate change debate. One has to make clear that cosmic radiation is only one of many parameters.
Nigel Calder, who has been following the CLOUD experiment for some time, was the first to smell a rat. He notes:
CERN has joined a long line of lesser institutions obliged to remain politically correct about the man-made global warming hypothesis. It’s OK to enter “the highly political arena of the climate change debate” provided your results endorse man-made warming, but not if they support Svensmark’s heresy that the Sun alters the climate by influencing the cosmic ray influx and cloud formation.
and
The once illustrious CERN laboratory ceases to be a truly scientific institute when its Director General forbids its physicists and visiting experimenters to draw the obvious scientific conclusions from their results
Lubos Motl, too, detects some double standards here:
One could perhaps understand if all scientists were similarly gagged and prevented from interpreting the results of their research in ways that could be relevant for policymaking. However, the main problem is that many people who are trying to work on very different phenomena in the climate are not prevented from interpreting – and indeed, overinterpreting and misinterpreting – their results that are often less serious, less reliable, and less rigorous, perhaps by orders of magnitude, than the observations by the European Organization for Nuclear Research.
Moreover, this sentence by Heuer
One has to make clear that cosmic radiation is only one of many parameters.is really a proof of his prejudice. Whether the cosmic radiation is just one player or the only relevant player or an important player or an unimportant player is something that this very research has been supposed to determine or help to determine. An official doesn't have the moral right to predetermine in advance what "one has to make clear" about these a priori unknown scientific results.
But then, as Lawrence Solomon reminds us, this was never an experiment the scientific establishment wanted to happen in the first place.
The hypothesis that cosmic rays and the sun hold the key to the global warming debate has been Enemy No. 1 to the global warming establishment ever since it was first proposed by two scientists from the Danish Space Research Institute, at a 1996 scientific conference in the U.K. Within one day, the chairman of the Intergovernmental Panel on Climate Change, Bert Bolin, denounced the theory, saying, “I find the move from this pair scientifically extremely naive and irresponsible.” He then set about discrediting the theory, any journalist that gave the theory cre dence, and most of all the Danes presenting the theory — they soon found themselves vilified, marginalized and starved of funding, despite their impeccable scientific credentials.
The mobilization to rally the press against the Danes worked brilliantly, with one notable exception. Nigel Calder, a former editor of The New Scientist who attended that 1996 conference, would not be cowed. Himself a physicist, Mr. Calder became convinced of the merits of the argument and a year later, following a lecture he gave at a CERN conference, so too did Jasper Kirkby, a CERN scientist in attendance. Mr. Kirkby then convinced the CERN bureaucracy of the theory’s importance and developed a plan to create a cloud chamber — he called it CLOUD, for “Cosmics Leaving OUtdoor Droplets.”
But Mr. Kirkby made the same tactical error that the Danes had — not realizing how politicized the global warming issue was, he candidly shared his views with the scientific community.
“The theory will probably be able to account for somewhere between a half and the whole of the increase in the Earth’s temperature that we have seen in the last century,” Mr. Kirkby told the scientific press in 1998, explaining that global warming may be part of a natural cycle in the Earth’s temperature.
The global warming establishment sprang into action, pressured the Western governments that control CERN, and almost immediately succeeded in suspending CLOUD. It took Mr. Kirkby almost a decade of negotiation with his superiors, and who knows how many compromises and unspoken commitments, to convince the CERN bureaucracy to allow the project to proceed. And years more to create the cloud chamber and convincingly validate the Danes’ groundbreaking theory.
Still, as you'd expect, the BBC remains dutifully on-message.  Read this report by its science correspondent Pallab Ghosh and you'll be left in little doubt that a) the latest results are dull beyond measure  and b) that if they do mean anything at all, it's that global warming is still very much man-made. Here's their tame expert, Reading University's Dr Mike Lockwood, on hand to provide them the perfect pull-quote:
Does this mean that cosmic rays can produce cloud? – No”
PS Welcome to all you American readers brought here by Drudge. Please come again. And if you want to read more about how the environmental movement got so powerful, how the junk scientists got away with it for so long, and why so many people fell for the biggest most expensive scam in history, you might enjoy my new book on the subject – Watermelons: the Green Movement's True Colors. (Also available on Kindle
Source

by James Delingpole

Prof. Steve Keen: Government should print money to pay off our debts

Professor Steve Keen: Government should print money to pay off our debts. 
BBC HARD TALK link
Background, last months interview on the Keiser report:

Uh oh, global warming loons: here comes Climategate II!


Breaking news: two years after the Climategate, a further batch of emails has been leaked onto the internet by a person – or persons – unknown. And as before, they show the "scientists" at the heart of the Man-Made Global Warming industry in a most unflattering light. Michael Mann, Phil Jones, Ben Santer, Tom Wigley, Kevin Trenberth, Keith Briffa – all your favourite Climategate characters are here, once again caught red-handed in a series of emails exaggerating the extent of Anthropogenic Global Warming, while privately admitting to one another that the evidence is nowhere near as a strong as they'd like it to be.
In other words, what these emails confirm is that the great man-made global warming scare is not about science but about political activism. This, it seems, is what motivated the whistleblower 'FOIA 2011' (or "thief", as the usual suspects at RealClimate will no doubt prefer to tar him or her) to go public.
As FOIA 2011 puts it when introducing the selected highlights, culled from a file of 220,000 emails:
“Over 2.5 billion people live on less than $2 a day.”
“Every day nearly 16.000 children die from hunger and related causes.”
“One dollar can save a life” — the opposite must also be true.
“Poverty is a death sentence.”
“Nations must invest $37 trillion in energy technologies by 2030 to stabilize
greenhouse gas emissions at sustainable levels.”
Today’s decisions should be based on all the information we can get, not on
hiding the decline.
FOIA 2011 is right, of course. If you're going to bomb the global economy back to the dark ages with environmental tax and regulation, if you're going to favour costly, landscape-blighting, inefficient renewables over real, abundant, relatively cheap energy that works like shale gas and oil, if you're going to cause food riots and starvation in the developing world by giving over farmland (and rainforests) to biofuel production, then at the very least you it owe to the world to base your policies on sound, transparent, evidence-based science rather than on the politicised, disingenuous junk churned out by the charlatans at the Intergovernmental Panel on Climate Change (IPCC).
You'll find the full taster menu of delights here at Tall Bloke's website. Shrub Niggurath is on the case too. As is the Air Vent.
I particularly like the ones expressing deep reservations about the narrative put about by the IPCC:
/// The IPCC Process ///
<1939> Thorne/MetO:
Observations do not show rising temperatures throughout the tropical
troposphere unless you accept one single study and approach and discount a
wealth of others. This is just downright dangerous. We need to communicate the
uncertainty and be honest. Phil, hopefully we can find time to discuss these
further if necessary [...]
<3066> Thorne:
I also think the science is being manipulated to put a political spin on it
which for all our sakes might not be too clever in the long run.
<1611> Carter:
It seems that a few people have a very strong say, and no matter how much
talking goes on beforehand, the big decisions are made at the eleventh hour by
a select core group.
<2884> Wigley:
Mike, The Figure you sent is very deceptive [...] there have been a number of
dishonest presentations of model results by individual authors and by IPCC [...]
<4755> Overpeck:
The trick may be to decide on the main message and use that to guid[e] what’s
included and what is left out.
<3456> Overpeck:
I agree w/ Susan [Solomon] that we should try to put more in the bullet about
“Subsequent evidence” [...] Need to convince readers that there really has been
an increase in knowledge – more evidence.  What is it?
And here's our friend Phil Jones, apparently trying to stuff the IPCC working groups with scientists favourable to his cause, while shutting out dissenting voices.
<0714> Jones:
Getting people we know and trust [into IPCC] is vital – hence my comment about
the tornadoes group.
<3205> Jones:
Useful ones [for IPCC] might be Baldwin, Benestad (written on the solar/cloud
issue – on the right side, i.e anti-Svensmark), Bohm, Brown, Christy (will be
have to involve him ?)
Here is what looks like an outrageous case of government – the Department for Environment, Food and Rural Affairs – actually putting pressure on climate "scientists" to talk up their message of doom and gloom in order to help the government justify its swingeing climate policies:
<2495> Humphrey/DEFRA:
I can’t overstate the HUGE amount of political interest in the project as a
message that the Government can give on climate change to help them tell their
story. They want the story to be a very strong one and don’t want to be made
to look foolish.
Here is a gloriously revealing string of emails in which activists and global warming research groups discuss how best to manipulate reality so that climate change looks more scary and dangerous than it really is:
<3655> Singer/WWF:
we as an NGO working on climate policy need such a document pretty soon for the
public and for informed decision makers in order to get a) a debate started and
b) in order to get into the media the context between climate
extremes/desasters/costs and finally the link between weather extremes and
energy
<0445> Torok/CSIRO:
[...] idea of looking at the implications of climate change for what he termed
“global icons” [...] One of these suggested icons was the Great Barrier Reef [...]
It also became apparent that there was always a local “reason” for the
destruction – cyclones, starfish, fertilizers [...] A perception of an
“unchanging” environment leads people to generate local explanations for coral
loss based on transient phenomena, while not acknowledging the possibility of
systematic damage from long-term climatic/environmental change [...] Such a
project could do a lot to raise awareness of threats to the reef from climate
change
<4141> Minns/Tyndall Centre:
In my experience, global warming freezing is already a bit of a public
relations problem with the media
Kjellen:
I agree with Nick that climate change might be a better labelling than global
warming
Pierrehumbert:
What kind of circulation change could lock Europe into deadly summer heat waves
like that of last summer? That’s the sort of thing we need to think about.
I'll have a deeper dig through the emails this afternoon and see what else I come up with. If I were a climate activist off to COP 17 in Durban later this month, I don't think I'd be feeling a very happy little drowning Polie, right now. In fact I might be inclined to think that the game was well and truly up. 

by James Delingpole Source

Paxman Rips Apart British Gas and Energy Secretary on Prices +







2011 Year of the Bankers, currency collapse & social unrest

Lipstick on PIIGS: 'Germans fed up with Eurobondage'

Escobar: No war with Iran before 2012 elections

Asia Times correspondent Pepe Escobar says that America's missile shield in Europe targets Russia - and is part of Washington's strategic plan of global dominance.

Nick Clegg to Accuse Banks of Racism

The reputation of Britain's banks will take a fresh battering when the deputy prime minister accuses them of discriminating against members of ethnic minorities in the way they distribute loans and set interest rates.



He will say: "Britain's banks, bailed out by the British people, have just as much responsibility as everyone else, arguably more responsibility, to help Britain build a strong and dynamic economy. Unleashing black and ethnic minority talent is their duty too."
His remarks are likely to provoke a terse reaction from the banks, who feel they are under constant attack from the coalition over the way in which they support industry.
"We know that 35% of individuals from black African origin say they want to start a business, but only 6% actually do. Are they having problems accessing the loans they need?" he said.
"Past evidence shows that firms owned by individuals of black African origin have been four times more likely than so-called 'white firms' to be denied loans outright. And that Bangladeshi, Pakistani, black Caribbean and black African owned businesses have been subject to higher interest rates than white and Indian owned enterprises." Full story/source

Jim Rogers on Libertarianism and Austrian Economics

The EU Over All with Dr. Paul Craig Roberts