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Good morning, worker drones: This Week in Mayhem

by Project Mayhem

Project Censored releases top censored news stories of 2009, Market Skeptics highlights catastrophic fall in global food production, gold bounces off $1100, Copenhagen succeeds in building global governance framework, Pakistan and Yemen sink further into chaos..

LAST WEEK IN MAYHEM

Project Censored releases list of 25 censored news stories of the past year

* 1. US Congress Sells Out to Wall Street
* 2. US Schools are More Segregated Today than in the 1950s
* 3. Toxic Waste Behind Somali Pirates
* 4. Nuclear Waste Pools in North Carolina
* 5. Europe Blocks US Toxic Products
* 6. Lobbyists Buy Congress
* 7. Obama’s Military Appointments Have Corrupt Past
* 8. Bailed out Banks and America’s Wealthiest Cheat IRS Out of Billions
* 9. US Arms Used for War Crimes in Gaza
* 10. Ecuador Declares Foreign Debt Illegitimate
* 11. Private Corporations Profit from the Occupation of Palestine
* 12. Mysterious Death of Mike Connell—Karl Rove’s Election Thief
* 13. Katrina’s Hidden Race War
* 14. Congress Invested in Defense Contracts
* 15. World Bank’s Carbon Trade Fiasco

http://www.projectcensored.org/top-stories/category/two-thousand-and-ten-book/

2010 Food Crisis for Dummies

The countries that make up two thirds of the world’s agricultural output are experiencing drought conditions.

The following article is HIGHLY recommended for anyone trading in the commodities futures markets or interested in possible future outcomes in 2010.

“If you read any economic, financial, or political analysis for 2010 that doesn’t mention the food shortage looming next year, throw it in the trash, as it is worthless. There is overwhelming, undeniable evidence that the world will run out of food next year. When this happens, the resulting triple digit food inflation will lead panicking central banks around the world to dump their foreign reserves to appreciate their currencies and lower the cost of food imports, causing the collapse of the dollar, the treasury market, derivative markets, and the global financial system. The US will experience economic disintegration.

So far the crisis has been driven by the slow and steady increase in defaults on mortgages and other loans. This is about to change. What will drive the financial crisis in 2010 will be panic about food supplies and the dollar’s plunging value. Things will start moving fast.”

http://www.marketskeptics.com/2009/12/2010-food-crisis-for-dummies.html

Gold bounces off $1100

Gold has bounced off $1100, as expected, but the question  is whether this level will hold.  This is almost impossible to predict…what we do know is that gold is going much higher intermediate-term.  Short-term, we could see pricing pressures on gold until we get a new leg down in the economic crisis and/or war in Central Asia.  Things are heating up around the world, particularly in Yemen and Pakistan.  Regardless, we expect a hard floor for the gold price in the range of $1000-1050.  We will watch carefully for the next two business weeks leading into Jan 1st, as this will involve year-end mark-to-market for gold on many balance sheets so expect volatility.  In terms of the next year (2010) we are expecting a dollar crisis so it would be wise to own gold under such circumstances.

Tarpley – Hyperinflation possible in 2010
http://eclipptv.com/viewVideo.php?video_id=9059

Gerald Celente – 2010 – Prepare for the Worse
http://eclipptv.com/viewVideo.php?video_id=9060

Copenhagen Treaty yields start of Global Governance

The Copenhagen treaty was a success despite the massive scientific scandal; the global bankster-gangsters got precisely what they wanted.  The objective was to establish the framework for a world government, which is often called ‘global governance’ in policy planning circles. The seeds of this were successfully planted.  There were two main accomplishments at Copenhagen:  1) agreement on a global transaction tax on GDP, paid to the World Bank  and 2) agreement on preliminary funding for global governance, conservatively $100bn by 2020 but we believe this number will be much much higher (probably in trillions).

“In 2004, it was less than $300 million. But in 2005, the trade really started to soar, ending the year with $10.8 billion-worth of transactions. A year later, in 2006, the “carbon” market had grown to $31 billion. In 2007, again it more than doubled its turnover, to $64 billion. Last year, it did it again, reaching a colossal $126 billion. By 2020, some estimates suggest the annual value will reach $2 trillion.”

http://eureferendum.blogspot.com/2009/12/protecting-big-carbon.html

“This is the biggest heist in history. As they poured carbon over snow-covered Denmark from their gas-guzzling jets, world leaders were congratulating themselves on securing a deal which will make their backers and financiers a trillion pounds a year. These riches will come from buying and selling permits, the so-called ‘carbon credits’ which allow industry and electricity generators in developed countries to emit carbon dioxide.

The frenzied negotiations we have just seen were never about ‘saving the planet’. They were always about money.”

http://www.dailymail.co.uk/debate/article-1237235/ANALYSIS-Saved–trillion-pound-trade-carbon.html

Copenhagen accord keeps Big Carbon in business

“The part played at Copenhagen by all the tree-huggers, abetted by the BBC and their media allies, was to keep hysteria over warming at fever pitch while the politicians haggled over the real prize, to keep the Kyoto system in place.

The only tree they were concerned with hugging was the money tree and all the vast political apparatus that now supports it, allowing governments to tax and regulate us into handing over ever more of our money, largely without realising it, every time we drive a car, fly in a plane, pay our electricity bill or carry out any of a vast range of activities that involve the emission of CO2. ”

http://www.telegraph.co.uk/comment/columnists/christopherbooker/6845686/Copenhagen-accord-keeps-Big-Carbon-in-business.html

Saudis rain missiles down on Yemen

Saudi warplanes rain ’1,011 missiles’ on Yemen
“Houthi fighters say Saudi warplanes have fired some 1,011 missiles on the borderline with Yemen where the Shia population is already under heavy state-led and US-aided bombardment. “

http://www.presstv.ir/detail.aspx?id=114162&sectionid=351020206

US air raids kill 63 civilians in Yemen
“Yemen’s Houthi fighters say scores of civilians, including many children, have been killed in US air-raids in the southeast of the war-stricken Arab country.”
http://dprogram.net/2009/12/19/us-air-raids-kill-63-civilians-in-yemen/

Obama Ordered U.S. Military Strike on Yemen Terrorists
“The Yemen attacks by the U.S. military represent a major escalation of the Obama administration’s campaign against al Qaeda.”

Pakistan on brink ;  Obama feigns surprise

Internally displaced Pakistani women and children, aka alQueda

Pakistan continues to deteriorate, as we have been expected since the election of Obama.  There is definitely a new war brewing in the region.  The most likely conflict is either an event justifying going into Pakistan, or an event justifying going into Iran.  In either case, doing so would land us in deep deep trouble, and would escalate into a regional war.  Pakistan is a nuclear-armed country, with ballistic and cruise missiles, and Iran has advanced Russian weaponry.  War in either country would be a big mistake with catastrophic consequences for the world, but our fearless leaders do not seem to care about the people of the world or their lives.  Regardless, the CIA and ISI are doing an excellent job of destabilizing Pakistan, which seems to be the policy objectiive.

Pakistan political crisis deepens

“THE political crisis in Pakistan has deepened after the Government’s anti-corruption agency sought a warrant for the arrest of the country’s Interior Minister.”

http://www.theage.com.au/world/pakistan-in-crisis-as-creeping-coup-unfolds-20091219-l6lf.html

Symptom of a Deeper Malady Pakistan’s Refugee Disaster

In the meantime, with the winter months fast approaching, hundreds of thousands of “unintegrated” refugees who do not find more durable shelter, even as military sweeps continue, could face exposure and starvation. Some aid groups are demanding that the United States pressure Pakistan to respect international humanitarian law and allow independent access to the refugees.

THIS WEEK IN MAYHEM

source: cmegroup

Not much happening this week due to the Christmas holiday. Tuesday brings us the GDP number and existing home sales, Wednesday is new home sales, and Thursday is durable goods orders and jobless claims.  This week we are watching Yemen and Pakistan.

Have a great week and Merry Christmas

Project Mayhem Research (PMR) is a DC/Baltimore-based grassroots think tank dedicated to exposing corruption worldwide. PMR is affiliated with Zerohedge.com, a popular and growing anti-corruption site, through contribution of free articles for the public. Topics include the politics of war and weapons systems, unexpected applications of cybernetics, the growing international surveillance state, global warming ‘deindustrialization’ economics, broad systemic international corruption , in-depth policy analysis of studies from bank and military funded research groups, genetic analysis and surveillance of pandemic influenza, corruption in the international gold market, the power structure and history of the global elite, and analysis of their political objectives expressed through monopolistic international finance capital (read: powerful banks) between now and 2050.

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All you need to know about how the BLS really counts unemployment in one simple cartoon.

And, as we expected earlier, here is Mr. Biderman’s summation on what will likely one day (after Russian hackers get into BLS emails) turn out to be an advance April fool’s joke by the Bureau of Lies and Stupidity:

TrimTabs employment analysis, which uses real-time daily income tax deposits from all U.S. taxpayers to compute employment growth, estimated that the U.S. economy shed 255,000 jobs in November.  This past month’s results were an improvement of only 10.2% from the 284,000 jobs lost in October.

Meanwhile, the Bureau of Labor Statistics (BLS) reported that the U.S. economy lost an astonishingly better than expected 11,000 jobs in November.  In addition, the BLS revised their September and October results down a whopping 203,000 jobs, resulting in a 45% improvement over their preliminary results.

Something is not right in Kansas! Either the BLS results are wrong, our results are in error, or the truth lies somewhere in the middle.

We believe the BLS is grossly underestimating current job losses due to their flawed survey methodology. Those flaws include rigid seasonal adjustments, a mysterious birth/death adjustment, and the fact that only 40% to 60% of the BLS survey is complete by the time of the first release and subject to revision. 

Seasonal adjustments are particularly problematic around the holiday season due to the large number of temporary holiday-related jobs added to payrolls in October and November which then disappear in January. In the past two months, the BLS seasonal adjustments subtracted 2.4 million jobs from the results.  In January, when the seasonal adjustments are the largest of the year, the BLS will add anywhere from 2.0 to 2.3 million jobs. In our opinion, trying to glean monthly job losses numbering in the tens of thousands or even in the hundreds of thousands are lost in the enormous size of the seasonal adjustments.

In November, the BLS revised their September and October job losses down a surprising 44.5%, or 203,000 jobs. In the twelve months ending in October, the BLS revised their job loss estimates up or down by a staggering 679,000 jobs, or 13.0%. Until this past month, these revisions brought the BLS’ revised estimates to within a couple percent of TrimTabs’ original estimates.

The large divergence between the two results begs the question of what is causing the difference.  While we don’t have an answer today, we will be poring over the data in an attempt to answer that question.

Charles – here’s a hint: FOIA Obama’s TV tour for January. That way you will know what kind of NFP numbers to expect next month.