Friday, March 16, 2012
Submitted by Tyler Durden : Listen up muppet masters - if you have put in a bid for that Greek jewel of Santorini on Ebay, it may be time to quietly withdraw from the auction. Because according to Georgia Tech, things may get rather shaky soon. Literally: "After decades of little activity, a series of earthquakes and deformation began within the Santorini caldera in January of 2011,” said Newman, whose research is published by Geophysical Research Letters. “Since then, our instruments on the northern part of the island have moved laterally between five and nine centimeters. The volcano’s magma chamber is filling, and we are keeping a close eye on its activity.” Because the only thing that Greece, whose primary business is tourism, needs, is for the biggest Cyclades tourist attraction to go up in a pyroclastic cloud.
Russian diplomats traveled to the U.S. to meet with Secretary of War Hillary Clinton. After a meeting her in New York on Monday, a Russian diplomat told newspaper Kommersant Daily about the message the Russians were asked to send to Iran.
Russian diplomats agree that the rhetoric has changed from 'if' to 'when.'
“The invasion will happen before year’s end. The Israelis have put U.S. President Barack Obama in this interesting position–"either he supports the war or loses the support of the Jewish lobby,” according to the diplomat.
The archbishop of Canterbury, Dr Rowan Williams, is to resign and return to academia as master of Magdalene college, Cambridge.
Williams, 61, will leave at the end of December in time to start his new role next January.
His time in office has been marked by a slowly growing schism in the worldwide Anglican church, which he has failed to heal. Williams has been attacked by conservatives for his liberal views on homosexuality and by liberals for failing to live up to these principles.
But he has been respected on all sides for his gifts as a preacher of great eloquence and flashes of clarity.
Submitted by Tyler Durden: Following the latest temporary swoon in gold, the PM naysayers have once again crawled out of the woodwork, like a well tuned Swiss watch (made of 24K gold of course). Of course, they all crawl right back into their hole never to be heard of again until the next temporary drop and so on ad inf. Naturally, the latest incursion of "weak hand" gold longs is screaming bloody murder because the paper representation of the value of their hard, non-dilutable, physical gold is being slammed for one reason or another. Ironically, these same people tend to forget that the primary driver behind the value of gold is not for it to be replaced from paper into paper at some point in the future, but to provide the basis for a solid currency following the reset of a terminally unstable system, unstable precisely due to its reliance on infinitely dilutable currency, and as such any cheaper entry point is to be applauded. Yet it seems it is time for a refresh. Luckily, SocGen's Dylan Grice has coined just that with a brief explanation of "when to sell gold" which while having a modestly different view on the intrinsic value of gold, should provide some comfort to those for whom gold is not a speculative vehicle, but a true buy and hold investment for the future. And in this day and age of exponentially growing central bank balance sheets (chart), this should be everyone but the die hard CNBC fanatics. In brief: "Eventually, there will be a crisis of such magnitude that the political winds change direction, and become blustering gales forcing us onto the course of fiscal sustainability. Until it does, the temptation to inflate will remain, as will economists with spurious mathematical rationalisations as to why such inflation will make everything OK. Until it does, the outlook will remain favorable for gold. But eventually, majority opinion will accept the painful contractionary medicine because it will have to. That will be the time to sell gold."
Terminated CBO Whistleblower Shares Her Full Story, Exposes Deep Conflicts At "Impartial" Budget Office
Submitted by Tyler Durden:
Earlier today, we suggested that in the aftermath of the Greg "Muppets" Smith NYT OpEd, contrary to assumptions by Jim Cramer, a bevy of potential whistleblowers would step up to tell their tale of fraud and corruption across all walks of life - from Wall Street to, far more importantly, Washington, consequences be damned. This was paralleled by an alleged JPM whisteblower describing to the CFTC the firm's supposedly illegal activities in the precious metals space, which while we initially dismissed, we now admit there may be more to the story (stay tuned), even though we still have our doubts. What we are 100% certain of, however, is that yet another whistleblower has stepped up, this time one already known to the general public, and one that Zero Hedge covered just over a month ago: we refer to the case of former CBO worker, Lan T. Pham, who, as the WSJ described in early February, "alleges she was terminated [by the CBO] after 2½ months for sharing pessimistic outlooks for the banking and housing sectors in 2010" and who "alleges supervisors stifled opinions that contradicted economic fixes endorsed by some on Wall Street, including research from a Morgan Stanley economist who served as a CBO adviser.
Salam Fayyad speaks about water and the part it has played in the conflict with Israel.
He was attending the sixth World Water Forum in Marseille. There have been 21 armed disputes over water in recent history and 18 of them involved Israel.
Melman has accused the plant's management of forcing its workers to take part in life-threatening experiments for the sake of nuclear developments.
They also claim the government and the military are involved in a cover-up of the tests.
It's taken a decade for them to speak out, but workers at Israel's nuclear reactor facility claim their managers gave them uranium to drink