Tuesday, May 31, 2011

WHO KILLED JOURNALIST? PAKISTAN'S WAR ON CIA INFILTRATION

Shahzad.

On 30 May 2011, Pakistan journalist Syed Saleem Shahzad was found dead, some miles outside Islamabad.

(Reporter's death)

In Hongkong-based Asia Times Online, Shahzad had reported on the infiltration of the Pakistan navy by al Qaeda (the CIA).

(Asia Times Online.)

According to Shahzad:

1. Al-Qaeda (the CIA) carried out the attack on the Mehran naval airbase in Karachi in late May 2011.

2. The attack was a response to the Pakistani navy's detection of al-Qaeda (CIA) agents within its ranks.

3. There had been failed discussions between the navy and al-Qaeda (the CIA).

Al Qaeda (the CIA) had failed to gain the release of naval officers arrested on suspicions of links to al Qaeda (the CIA).

On 29 May 2011, it was reported that a former navy commando, and two others, had been detained for questioning in connection with the attack.

Penny for your thoughts tells us more about the attack on the Mehran Airbase - False Flag attack ?

"The hit on Mehran was like nothing else done by the TTP, because it was not done by them."

"While the CIA employs the useful idiots of the TTP for some destabilisation of Pakistan, when the important stuff needs to get done, they take care of it themselves."

CIA asset arrested in Karachi?

It looks as if the Pakistan military is cracking down on the CIA.

1. On 17 May 2011 we learn that, in Karachi, Pakistani security forces have arrested Muhammad Ali Qasim Yaqub.

Muhammad Yaqub, alias Abu Sohaib al Makki, is a senior al Qaeda (CIA) operative from Yemen.

Pakistani army: senior al Qaeda (CIA) operative arrested

According to the Pakistan military, Yaqub (al Makki) had been "working directly under al Qaeda (CIA) leaders along (the) Pakistan-Afghan border."

The US Embassy in Pakistan claims not to know Yaqub (al Makki) and say his name does not appear on any lists under the US Rewards for Justice program.

"The arrest of al Makki is a major development in unraveling the al Qaeda (CIA) network operating in the region," according to the Pakistan military.

Yaqub (al Makki) was arrested some time after 2 May 2011.


Patek

2. In January 2011, Umar Patek was arrested by Pakistani forces in Abbottabad.

Umar Patek, an Indonesian, was reportedly an asset of the CIA.

"He was captured with his Indonesian wife during a gun battle with local Pakistani security," according to Indonesia's General Sutanto.

PATEK, DAVIS, HIZBUL, KHALID, HAMZA

Davis

3. On 27 January 2011, the CIA's Raymond Davis was arrested by the Pakistan authorities after he had killed two agents of the Pakistan spy service ISI in Lahore, Pakistan.

PATEK, DAVIS, HIZBUL, KHALID, HAMZA


Baitullah Mehsud, whose nephew was allegedly staying in the 'Osama' compound in Abbottabad.

4. On 17 May 2011, we read that the Pakistan security forces "have arrested ... three family members of the ... militant leader Qari Zainuddin Mehsud from a mountain (two miles from Abbottabad) which is believed to be the hub of (Pakistan) Taliban militants, while three hotels were raided to hunt down foreign journalists..."

PAKISTAN ARRESTS 'CIA ASSETS' NEAR ABBOTTABAD


Fake photo?

5. There is evidence that it was Pakistan forces who carried out the raid on the so called 'Osama' compound.

PAK FORCES DID 'OSAMA' RAID?

~~

China's Manufacturing Slowest in 9 Months, New Orders Suggest Manufacturing May Have Already Peaked; Australia Biggest GDP Drop in 20 Years

Weak economic reports in the US, Europe, Australia, and China tell the same story: The global economy continues to cool.

MarketWatch reports China manufacturing growth slows further
The official China Federation of Logistics & Purchasing Managers’ Index eased to 52.0 from 52.9 in April, marking the slowest pace of growth in nine months.

The result was below the median forecast of 52.2 in a Reuters survey of economists.

Meanwhile, a separate PMI published by HSBC and compiled by U.K. group Markit, showed headline activity at 51.6, easing from 51.8 in April, the slowest pace of growth in 10 months.

Analysts at Credit Suisse said that the Federation’s PMI showed new orders declining at a faster pace than the slowdown in the overall reading, a sign that manufacturing activity may have already peaked in the current economic cycle.

“Actual economic activity may have cooled down faster than the headline suggests,” said Credit Suisse analysts.
Australia Reports Biggest GDP Drop in 20 Years

The BBC reports Australian economy reports biggest fall in twenty years
Its economy contracted by 1.2% in the first three months of the year, compared with the previous quarter, the latest government figures showed.

The government said flooding and cyclones in resource rich states of Queensland and Western Australia had a significant impact on growth.

Australia's economy is heavily reliant on its resources sector.

"The economy has hit a temporary pothole courtesy of the natural disasters this year," said Besa Deda of St George Bank.
That temporary pothole is about to become a Grand Canyon led by declines in housing and retail spending.

Chicago Region Manufacturing Gauge Biggest Drop in 2.5 Years

Please consider Chicago manufacturing gauge nosedives
A Chicago-area manufacturing gauge dropped by the largest amount in nearly two-and-half years in May, in a further sign that the rise in oil prices and the Japanese earthquake have affected activity.

The Chicago PMI fell to a reading of 56.6% in May, the lowest reading since Nov. 2009, from 67.6% in April.

While that reading is still significantly above the 50-line indicating growth, the eleven-point drop is the biggest one-month deceleration since Oct. 2008 and was worst than the 60% reading that economists polled by MarketWatch anticipated.

Indexes for production, new orders and order backlogs each dropped by double digits. Inventories jumped, which in this case is more likely an indication of unplanned gains due to a lack of sales than stocking up in anticipation of better times ahead.
US Consumer Confidence Declines

Rounding out a torrent of bad news for the day, U.S. consumer confidence declines in May
The nonprofit Conference Board said its consumer-confidence index fell to 60.8 in May — the lowest reading in six months — from a revised 66 in April. Economists polled by MarketWatch had forecast an increase to 67.5.

Most economists were surprised by the decline. Some attributed the drop to the cost of gas, a downward spiral in housing prices, recent weakness in the economy, and even to a series of tornados and floods wracking parts of the U.S.

The expectations index, which measures the view of consumers six months out, fell to 75.2 from 83.2 last month. It’s the lowest reading since last October.

The percentage of consumers who say jobs are plentiful increased to 5.6% from 5.1% in April, although the percentage who say they are hard to get also rose slightly to 43.9%.

The consumer-confidence index remains low by historical standards. In a healthy economy, the index averages about 95 points.
In a healthy economy the index averages 95. Currently it sits at 60.8.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

700 CIVILIANS KILLED BY NATO IN LIBYA


The Libyan government says Nato air raids have killed more than 700 civilians since bombing began in March 2011.

Spokesman Moussa Ibrahim said more than 4,000 people had been wounded.

He said the figures did not include military casualties.

(Nato raids 'killed 700 civilians' BBC News)

atlantic hurricane names 2011 - 2016

Atlantic Hurricane Names 2011- 2016
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national hurricane center -- www.nhc.noaa.gov
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atlantic hurricane season is 01 june - 30 november
====

OSAMA DEAD CONSPIRACY

Dawood Ibrahim, allegedly a friend of the CIA.

The 'Osama bin Laden compound' in the Pakistan town of Abbottabad has a special design.

Reportedly, it is a design used by the US military.

Reportedly, the US military use this design for constructing secret and safe homes for top officers in dangerous zones.

(Did Dawood's construction firm build 'Osama's' Abbottabad home? / Did Dawood's construction firm build 'Osama's' Abbottabad home ...)


"Highly placed sources in Indian intelligence" reveal that the contract to build such homes in Pakistan has been given to Safari Construction.

Safari Construction is reportedly owned by Dawood Ibrahim.

(Did Dawood's construction firm build Osama's Abbottabad home?)

Reportedly, Dawood Ibrahim is an asset of the CIA.

According to the media, Pakistan intelligence agencies reveal that Dawood's construction company, Safari, is building many houses in Abbottabad.

They also reveal that Dawood has had a large home in Abbottabad for some years.

(Did Dawood's construction firm build Osama's Abbottabad home?)

Who might have been staying in the so called 'Osama Compound'?

Most likely it would have been people working for the CIA and its friends.

This might explain the reports that it was Pakistan forces who attacked the compound.

"A poll published in Pakistan shows that 66% of people believe the man killed (at Abbottabad) was not Osama bin Laden" (Al-CIAda statement should kill off Bin Laden conspiracy theories) The CIA did have a safe house in Abbottabad. (CIA Occupied Safe House in Abbottabad)

"Gangster Dawood Ibrahim slipped out of Karachi ... on Monday evening, just hours after US Navy Seals (arrived) ... in Abbottabad."

"The gangster ... flew down to Islamabad and (was) then taken to a safe house in Murree by (his) ISI handlers." (Dawood, Shakeel fled Karachi day after Osama kill)

Dawood Ibrahim

Dawood Ibrahim of the CIA?

Reportedly, Ibrahim has joint casino interests with the CIA in Kathmandu.

Reportedly, this involves money laundering for top Indian politicians. (Wayne Madsen sees Dawood Ibrahim link to Mumbai Attacks)

"The United States showed a 'lack of enthusiasm' in getting underworld don Dawood Ibrahim deported to India from Pakistan despite making some initial efforts, says senior BJP leader L K Advani.

"Advani, in his memoir 'My Country My Life', notes with deep disappointment America's reticence in pressing Pakistan to hand over Dawood, wanted in connection with 1993 Mumbai serial blasts, to India." - ('US showed lack of interest in Dawood's deportation')

"Ibrahim is believed to be one of the men behind the terror attacks in Mumbai." (Fears of a Mumbai Redux: The Story Behind Germany's Terror Threat)

And it was an American agent, David Headley, who planned the Mumbai attacks. (DAVID HEADLEY AND OSAMA BIN LADEN)


HEADLEY, LIKE DAWOOD IBRAHIM, LINKED TO 1993 BOMBINGS ...


The UK spooks protect Dawood Ibrahim?

(http://observer.guardian.co.uk/uk_news/story/0,6903,1411796,00.html)

Iqbal Mirchi lives in Hornchurch, in England.

Iqbal Mirchi is wanted by police in India for murder and his part in a terrorist bombing campaign.

He is allegedly among the top 50 global drug barons; according to the US authorities he is the right-hand man of Dawood Ibrahim, head of the 'D' company, a worldwide mafia.

Bombs in Mumbai in 1993 killed over 300 people.

Mirchi's name was linked to the bombings.

According to Mirchi: 'a senior police officer told me that my name would be attached to false charges unless I paid millions of rupees in bribes.

'I refused and moved to Dubai.'

Mirchi admits having met Dawood Ibrahim in Dubai.

Dawood has been described as 'the most dangerous man in the world'.

As well as drugs and terrorism, the D company is involved in gold smuggling, gambling, counterfeit currency, diamond trading, contract killing, extortion and film financing.

It is said to have a 60 per cent stake in the Bollywood film industry.

Dawood is also known to have met Osama Bin Laden and, in the aftermath of 9/11, allowed his smuggling network to be used to enable senior al-Qaeda operatives to flee Afghanistan.

Dawood Ibrahim seems to be untouchable.

(http://www.satribune.com/archives/apr4_10_04/P1_arun.htm


On 21 May 2011, Pakistan's General Mirza Aslam Beg wrote that the 'Osama compound' was raided in 2009 (Abbottabad attack: New revelations) :

"This house was raided in 2009, to capture Abul Faraj...

"Why couldn’t they find Osama then, if he and his family were living there since 2006?"

(It is not clear who the name Abul Faraj belongs to. The Pakistan Taliban's Abu Faraj, a deputy to Mullah Fazlullah, was captured in Swat in 2009)

We should note that Pakistan 'alerted the US over the Abbottabad compound in 2009.

'OSAMA' COMPOUND USED HARDLY ANY ELECTRICITY

Two TV sets, digital satellite decoder, computer, calculator with printer.

"Electricity bills seen by The Sunday Times show that the compound used hardly any power, just enough for lights and a small television "

Talk of who betrayed Osama bin Laden sparks a harem scuffle

~~~

OSAMA 'WAS AN AMERICAN CITIZEN'
PAKISTAN CRACKS DOWN ON CIA
PAKISTAN ARRESTS 'CIA ASSETS' NEAR ABBOTTABAD

FAKE 'OSAMA' HOUSE?
PAK FORCES MUCKED UP 'BIN LADEN' RAID?
OSAMA'S DIARY

SATELLITE DISH ADDED TO 'OSAMA' COMPOUND?
PAK FORCES HIT 'OSAMA' COMPOUND
BIN LADEN ESCAPED?

PAK ARMY VISITED RESIDENTS BEFORE ABBOTTABAD ATTAC...
PAK PM, HEADLEY AND THE CIA
THE THREE OSAMAS

'FAKE' PICTURES OF 'OSAMA' IN ABBOTTABAD
ABOUT ABBOTTABAD
OSAMA AND DAWOOD IBRAHIM

PATEK, DAVIS, HIZBUL, KHALID, HAMZA
PIECZENIK ON SADDAM AND OSAMA
IT WAS PAK FORCES WHO ATTACKED THE COMPOUND IN ABB...

CIA SAFE HOUSE IN ABBOTTABAD?
OSAMA DEATH FAKE
THE BIN LADEN FAMILY

OSAMA BIN LADEN
CHINA BEFRIENDS PHILIPPINES, INDONESIA, PAKISTAN; ...
KISSINGER SEES WAR BETWEEN INDIA AND PAKISTAN

OSAMA 'WAS AN AMERICAN CITIZEN'

DUDAYEV, former Chechen president. The CIA is reported to have used bin Laden and al Qaeda against the Russians in Chechnya.

Dzhokhar Dudayev (1944 - 1996) was the first President of the breakaway Chechen Republic of Ichkeria. (Dzhokhar Dudayev - Wikipedia)

His foreign minister was Shamseddin Yusef.

Shamseddin Yusef has said, in a Russian TV documentary, that Osama bin Laden visited both him and Dudayev, and, that Osama arrived from the USA.

According to Shamseddin Yusef, Osama bin Laden was an American citizen. (Underground Serbian Cafe: Plan Caucasus.)

Shamseddin Yusef says the leading Wahhabis are all American citizens.

(Underground Serbian Cafe: Excellent Plan Caucasus.)

Berkan Yashar

Berkan Yashar is a Turkish-born Chechen and a 'former CIA agent'.

He currently lives in Turkey and he has made some 'revelations' about Osama bin Laden.

Reportedly, in the 1960s, Yashar "signed a contract with the U.S. State Department" and worked as an announcer at Radio Free Europe's Munich headquarters, broadcasting "propaganda in the Chechen language."

Reportedly, in the 1990s, Yashar was involved in a Western plot to foment separatism in the Caucasus - starting with Chechnya. (Russian Documentary Alleges West Sought Chechen Secession - Radio Free Europe.)

After his work for Radio Free Europe, Berkan reportedly became a politician in Turkey.

Then, reportedly, in the nineties he became Chechen Ambassador in Turkey and Chechen Government Speaker.

Berkan Yashar

According to 'former CIA agent' Berkan Yashar (interview with former CIA agent Berkan Yashar on Russian Channel 1 today!):

"In September 1992 I was in Chechnya.

"That's when I first met the man whose name was Bin Laden.

"This meeting took place in a two-story house in Grozny...

"Osama lived in the same place."

Chechnya

'Former CIA agent' Berkan Yashar told Russian TV station, Channel One that Osama died of natural causes (Bin Laden died of disease-RT):

"I knew Bin Laden’s Chechen guards very well.

"Samy, Ayub and Mahmud were with him right to the end.

"I remember well this date as there were three sixes in it - June 26, 2006.

"Those three men, as well as two Muslims from London and two from the US saw Bin Laden dead.

"He was seriously ill before his death.

"He faded away to skin and bone.

"The three Chechens washed his body before burying it."

(pakconnects: “Bin Laden died of disease in 2006” – former CIA agent)

~~

PAKISTAN'S ENEMY WITHIN?

August 2008 -Chairman of the US Joint Chiefs of Staff, Adm. Mike Mullen and Navy Rear Adm. Scott van Buskirk talk with Pakistani Chief of Army Staff, Gen. Ashfaq Kayani, centre, and Major Gen. Ahmad Shuja Pasha, on the flight deck aboard USS Abraham Lincoln, in the Gulf.

Which 'friends of the CIA' headed Pakistan’s spy service, ISI, in the years 2005 - 2011, when Bin Laden was allegedly living in Abbottabad?

(Who Headed Pakistan's ISI - Analysis)

In 2004, Lt General Kayani became the boss of ISI.

He was followed in October 2007 by Lt General Nadeem Taj, who was followed in September 2008 by Lt General Ahmed Shuja Pasha.

Kayani has done training courses in the USA.

He has many contacts in the US Armed Forces.

He impressed the US by his success in dealing with the affair of Abu Faraj al-Libbi, who was allegedly involved in the attempts to assassinate President Musharraf.


Abu Faraj Al-Libbi, whom some suspect was a CIA operative, was reportedly arrested in 2005.

He was immediately handed over to the USA.

This meant that the Pakistan authorities could not properly interrogate him in connection with the attempts to kill Musharraf.

While Kayani was in charge of ISI, the Pakistan Taliban increased its power over Pakistan's Pashtunbelt and Al Qaeda spread its bases within Pakistan.

Some suspect that the Pakistan Taliban and Al Qaeda are both run by the CIA.

Around this time, David Headley and Munawuur Hussain Rana, were reportedly planning terrorist strikes in India.

Headley is reported to have links to ISI.

Headley is believed to be an agent of the CIA.

Lt General Taj became boss of ISI in 2007, but Taj was in charge of ISI for only 10 months.

Reportedly, the USA did not like Taj and pressured Kayani to have him sacked.

Major-General Ahmed Shuja Pasha became the boss of ISI in 2008.

Pasha had a record of being ineffective in fighting militants.

Kayani took Pasha with him for a secret meeting with Admiral Michael Mullen, Chairman, US Joint Chiefs of Staff, on board a US aircraft carrier, in August 2008.

In February 2011, Pakistan Army Chief Ashfaq Parvez Kayani and the American military top brass met at a secluded luxury beach resort in Oman.

They worked out a deal on the release of CIA spy Raymond Davis. (Raymond Davis's release based on ISI-CIA secret deal: Report)

Bilawal Zardari, the son of Pakistan's president. The leadership in Pakistan are dealing with Mossad, the CIA, RAW and MI6, who reportedly want to break up Pakistan, using agents such as Raymond Davis.

One of the Pakistanis shot dead by CIA agent Raymond RAYMOND DAVIS was Muhammad Faheem.

Faheem's widow, Shumaila, 'committed suicide'.

On 17 March 2011, The Nation quotes Muhammad Afzal, the uncle of Shumaila, as having said (Shumaila kin threaten suicide):‎

"We never demanded blood money...

"We did not accept any money nor did we pardon the American killer..."

He said the Pakistan government bowed down to US pressure.

On 16 March 2011, the police arrested Shumaila's uncles, mother, sister, and other relatives.

The CIA plan is for Balochistan to become 'independent' and to be used as a route for heroin?

Earlier, on 23 February 2011, three men forcibly gave poison to one of Shumaila's uncles, called Sarwar. (Shumaila's uncle forcibly given poisonous pills‎)

"According to sources, two motorcyclists had warned Sarwar on 11 February not to pursue the case registered against Raymond Davis...

"Afzal, another uncle of Shumaila, told Dawn that three men entered the house through a ventilator, grasped Sarwar and subjected him to severe torture.

"Afzal claimed that they administered him poisonous pills, citing the recovery of one tablet from the spot.

"He said the men remained in the house for about half an hour and fled when other family members woke up. Sarwar was taken to hospital..."

In February 2011, Pakistan Army Chief Ashfaq Parvez Kayani and American military top brass met at a secluded luxury beach resort in Oman to work out a deal on Davis. (Raymond Davis's release based on ISI-CIA secret deal: Report)

General Kayani (right) with his boss.

ROBERT ANDERSON, on 8 March 2011, at just-international, wrote an article entitled "I Had Ray Davis's Job, in Laos 30 Years Ago. Same Cover, Same Lies‎"

According to Anderson:

"In Laos the program I was attached to carried out a systematic assassination of people...

"It was called the Phoenix program and eliminated an estimated 60,000 people across Indochina...

"I saw one team of mercenaries I was training show us a bag of ears of dead civilians they had killed..."

The CIA ran an illegal drug operation "to pay for their operations."

The CIA's Raymond Davis, who was allegedly organising acts of terrorism in Pakistan

On 16 March 2011, it was reported that the USA had suspended aid to Pakistan.

(US 'blocks' aid over Raymond Davis issue. / Raymond Davis row leads to suspension of US aid)

On the same day, the CIA assassin Raymond Davis was released from custody in Pakistan.

According to Muhammad Afzal, a relative of one of the slain men:

"Family members were told they were being taken to the police station to make statements.

"Instead, they were taken to a secret location and held in isolation and told that unless they signed a letter pardoning Davis, 'you will never see daylight.'"

(Veterans Today Exclusive: Raymond Davis Release, the Inside Story ...)

"Initial media reports surrounding the release of Raymond Davis suggest that the families of the victims killed in the Lahore shooting have left the country on a second plane.

"Their neighbours say they haven’t seen the families in two days and that their homes are empty and locked.

"Sources say an aircraft carrying more than 10 people left Lahore airport and is headed to Bagram Air Base in Afghanistan.

"They also say the families have been given Green Cards and homes in New York state and Washington DC." (Raymond Davis saga: Victims' families leave country say sources )

The US government did not pay any compensation to the families of two Pakistanis killed by Raymond Davis, Secretary of State Hillary Clinton said on 16 March 2011. (U.S. did not pay compensation in Raymond Davis case)

•On 27 January 2011, three young Pakistanis were killed by US spooks in Lahore.
•The Police arrested US citizen Raymond Davis at the crime scene.
•On 6 February, the widow of Faheem, one of the victims, committed suicide.
•On 22February, US officials confirmed that Raymond Davis worked for the CIA.


Jonathan Azaziah explains more about Raymond Davis And A Travesty Of Justice

The Pakistanis were shot dead "because they witnessed Davis and another group of mercenaries loading their cars with machine guns and explosives, and overheard them discussing their trip into an area of Lahore known for 'terror bombings.'

"While Davis was detained, the other car, full of mercenaries, jetted away and ran over another innocent Pakistani in the process.

"The phone found in Davis’ car, revealed that the CIA-Xe murderer made several calls to an organization known as the ‘Tehrik-I-Taliban,’ a group linked to hundreds of bombings across Pakistan in the last 10 years.

"Pakistani police also discovered photographs of sensitive military defense installations on Davis’ camera, including the Balahisar Fort, the headquarters of the paramilitary Frontier Corps in the strategically important city of Peshawar and several Pakistan Army bunkers on the border with India...

"Mossad and RAW, the two principal executors of 'the Dragon Policy', set up four agencies in 2001 which would target Pakistan’s societal top tier, from finance to politics, religion to military.

"These agencies would seduce, blackmail, train and employ young Pakistani men from different sects and serve as their handlers in carrying out terrorism across Pakistan.

"Once the recruits are in the field, they are met by their handlers under the guise of ‘Al-Qaeda’ or the ‘Tehrik-I-Taliban’ and issued money, weapons and other supplies.

"These meetings are then reported by the Zionist media as coordination between terror groups.

"When these stooge agents are unable to secure a ‘checkout,’ or completion of their mission, the ordnance units of Mossad and RAW take to the field in collaboration with sleeper cells of Xe contractors to spread the chaos.

"The blood-drenched end result is still reported by the cabalistic Zionist media as “Islamic extremism,” to the detriment of Pakistan..."

(http://www.maskofzion.com/)

~~

"The Longer you Wait the Higher the Haircut. Greece is not Even in the EU's Hands. Let this be a Warning to the U.S."

In the video below, Terrence Keeley at Sovereign Trends LLC discusses Greek restructuring, why Germany backed down on restructuring, and what it ultimately means. The video is outstanding, please play it.



If the video does not play here is the Bloomberg link Sovereign Trends' Keeley Interview
Terrence Keeley, senior managing principal at Sovereign Trends LLC and a Bloomberg Television contributing editor, discusses the outlook for additional aid to Greece from the European Union. EU officials will decide on more aid by the end of June and have ruled out a “total restructuring” of the nation’s debt, said Jean-Claude Juncker, head of the group of euro-area finance ministers. Keeley speaks with Erik Schatzker on Bloomberg Television's "InsideTrack."
Key Quotes

  • The Longer you wait the higher the haircut.
  • Germany backed off over bank threats, Europe is ill-prepared for restructuring.
  • A lot of people talk about getting Greece back on its feet. The truth of the matter is Greece has not been on its feet for several millennium
  • 40% of Greek GDP is government workers. Until that problem is fixed there is no solution for Greece's economy.
  • The reality is Greece is a goner, Ireland is very, very tough and Portugal is the same. We could have more.
  • Keeping the Brady Plan in your back pocket is a very good idea.
  • Everyone is clapping their hands this morning but Greek CDS imply a 70% chance of default. The market expects Greece to default, and the market is right
  • This is not even in the EU's hands.
  • Let this be a warning to the United states. The US can still control its situation, Greece cannot.


I agree with everything Terrence Keeley said in the interview.
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
Click Here To Scroll Thru My Recent Post List

former louisiana college professor rondall reynoso releases follow-up to letter of concern for louisiana college

via: email

Dear Louisiana Baptists and Friends:

A few days ago, I read through 1 John and was impressed by John’s insistence that there is no disconnect between orthodox faith and orthodox practice. In fact, the strength of his insistence is humbling. He is clear that faith is always and inseparably followed by Christ-honoring behavior. In his gentlest terms John says, “He who says he abides in Him ought himself also to walk as He walked. “ (1 John 2:6) It is my desire that the Louisiana College community walk as He walked. But in our zeal to wage war against the ills that we see, we must be sure that we have not, as Jesus said, “neglected the weightier matters of the law: justice and mercy and faith.” (Mathew 23:23) I write this letter to illuminate what has followed my Letter of Concern for Louisiana College. My hope is not just to be informative but hopefully to encourage the Louisiana College and Louisiana Baptist communities to Christ-honoring action.

The mission that LC proclaims is of great importance. I want nothing more than for central Louisiana to be served by a conservative Christian college that serves the Kingdom with great honor. It should also be noted that my initial letter was neither hyperbolic nor exhaustive. I sought to mention only items that would get the point across and for which I had firm evidence. There are many other issues that could have been brought up including a faith healer teaching on campus and a professor who taught aura alignment (eastern mysticism) in the classroom. The letter was a scratch on the surface of the situation at LC. It was a call for Louisiana Baptists to lay aside their apathy and for some at LC to change their ways.

Following is a narrative of what has happened since my letter.

In the days after I sent out my Letter of Concern, I had two meetings with the Louisiana College administration. After the first meeting, it was clear that I was being dismissed and banned from campus. However, I was told in the second meeting that I was only banned, not technically dismissed. When I was finally allowed to clear my personal belongings from my office, I discovered that the locks had been changed and a 24-hour guard had been posted at the door. Two classes that normally met in my office had to find alternate meeting space; at least one of them held class on the floor in the foyer, without access to the presentation technology the class required. The fervor of the administration to penalize me undermined the college’s goal of academic excellence.

Prior to my second meeting, the administration confiscated a painting which one of my students had painted the previous school year. When the student artist and her parent met with the administration, the president refused to return the painting and held it for two more days. Meanwhile, the figure painting had been photographed and an image of it leaked, which is a copyright infringement, in an effort to discredit me. When the student’s property was finally returned a week after its confiscation, it was banned from campus for the first time, despite that the administration had known about its existence for a year.

The Louisiana College Faculty Handbook contains clear procedures for how both non-renewal of contracts and dismissals are to proceed. In short, the dismissal procedures include (section 2.7.4) a letter from the VPAA informing the faculty member of a proposed dismissal. This letter must include a reasonably clear articulation of the reasons for the proposed dismissal. The faculty member then has the opportunity to request a hearing before the Faculty Affairs Advisory Committee to defend himself against the charges. After the hearing the committee makes recommendations to the president who then decides if dismissal is appropriate. The faculty member has additional remedies with the Board of Trustees, but those are post termination.

In my case, when I next heard from the administration, Dr. Aguillard refused to send the requisite paperwork to me or my lawyer, insisting that I come to his office rather than follow my lawyer’s advice to have the paper work sent to me. The next morning an LC security guard delivered a letter which notified me that if I did not meet with the President my “salary and benefits would be terminated today.” This was a clear violation of the Faculty Handbook (section 2.7.4) which provides no mechanism for immediate dismissal and assures due process. Twice the administration (once Dr. Aguillard and once Acting President Tim Johnson) produced documents requiring that I admit to being found in breach of contract, dishonest, and insubordinate. Further, the documents prevented me from saying anything about LC while not restricting what the administration could say about me. I obviously was unable to sign such one-sided documents, especially with their claims of my dishonesty, insubordination and breach of contract. When my lawyer sent a mutual release and settlement agreement to the College which provided greater protections for both parties and released both parties from further legal action and fault, the administration refused even to discuss such an arrangement.

Dr. Tim Searcy then sent me a letter on April 5th stating that my employment had been severed as of that day. However, the letter violated the Faculty Handbook on several fronts: the VPAA only has the authority to propose dismissal, there is no allowance within the Faculty Handbook for immediate dismissal, and the Faculty Handbook requires the reasons for dismissal be stated with “reasonable particularity.” None of these were done. My lawyer pointed out these errors to the administration, and on April 20th I received a letter from Dr. Searcy notifying me of my proposed dismissal, reinstating my insurances, and providing reasonable particularity of my alleged offenses.

In compliance with the Faculty Handbook, we requested an administrative hearing with the Faculty Affairs Advisory Committee which was scheduled for May 4th. The Faculty Handbook guarantees me the right to present witnesses in my defense. Despite my appeals, the administration continued to deny me access to campus and refused to lift the e-mail protocols which blocked my e-mail address from campus. These actions severely limited my ability to contact witnesses and to prepare my defense.

The administrative hearing on May 4th was highly unusual. Administrative hearings are typically fact finding events and can be informal. It is the responsibility of the committee to find the truth and make recommendations accordingly. There must be a clear separation of legal counsel between the committee and the administration; charges should be clearly levied, with the faculty member having the opportunity to respond to those charges. However in this hearing, the legal counsel for the administration also functioned as the counsel for the Committee, representing a clear conflict of interest and ethical violation. The procedures which the college’s lawyer instituted were extremely unusual including having me present my defense prior to the administration presenting their case and seeking to exclude hearsay, which is always permissible in administrative hearings due to the lack of subpoena power. Further, when my first witness was on the stand, I discovered that the Committee was totally unaware of the charges against me. How could they reasonably seek truth about the charges without any knowledge of the charges? When I spoke to my legal counsel after the first day of hearings, they were appalled by the lack of normal procedures. College employees are guaranteed due process, fairness, both through college policy and constitutionally. In the course of this hearing, my due process rights were so egregiously violated that a judge granted me a Temporary Restraining Order against the college to stop the proceedings.

When the restraining order was signed, the hearings were stopped. However, Dr. Aguillard had the audacity to ask me to rescind the restraining order and then asserted that even filing for such a restraining order was against college policy. Though Dr. Aguillard insisted on this being part of the official record of the hearing, I cannot provide the exact quote because, in violation of the Faculty Handbook, I have never been presented with the transcripts. In essence, Dr. Aguillard was arguing that the civil rights of school employees are superseded by college policy.

Through the work of my lawyer the College was unable to breach my contract, as it had several times tried to do while failing to follow the Faculty Handbook procedures. The restraining order issued by the court stopped the continued violation of my due process rights. While I had initially wished to keep these issues out of the courts and media, they were forced into those areas through the aggressive actions of the college. I was able to protect my rights, but it came at a still undetermined price in legal fees.

Prior to the hearing being stopped, one student and one faculty member testified on my behalf. The student who testified broke down in tears at one point, out of fear, and asked the committee if she would be allowed to return to LC next year, to which Dr. Aguillard vigorously objected. The faculty member confessed under oath that she feared her honest testimony would cause her to lose her job, despite her stellar annual review. Prior to the hearings, she had received a letter promising her a contract for the 2011-2012 academic year, however, she was not offered one when contracts were issued ten days after her testimony. The head of her department was not even notified of her non-renewal. She was eventually told by Acting President Tim Johnson that she would not receive a contract. This behavior is exactly what faculty and students fear and clearly illustrates why such fear is justified. Further, this sort of blatant dishonesty and abuse of power discourages faculty and students from even testifying on behalf of members of the college community and has no place in a Christian institution.

At 6’5” and almost 250 pounds, I do not think much about abuse. But when my wife began sharing some of our ordeal with friends, comments were repeatedly made comparing our situation to spousal abuse. One friend sent my wife a section of a blog post on abuse:
An abusive system is a closed system, whether it is found in a family, a work place or a church. The abuser has absolute power and uses his power to dominate, exploit, control, manipulate and oppress those under him. The enabler tries frantically to keep the peace by doing whatever it takes to soothe both the rage and shame of the abuser. Enablers also work to control how others perceive the abuser and how they behave when he or she is around. There is no room for truth in an abusive system.
I have thought a great deal about the enablers over the past few months. Certainly there are those who frantically fight to keep the peace at the cost of truth as mentioned in the quote above. But, there are also those who enable through their apathy. Either way, those who witness abuse and do nothing to stop it are morally culpable.

According to the prophet Jeremiah, those who say, “Peace, peace!” when there is no peace should be ashamed. I hope that those who receive this letter will choose to seek out the truth about what is happening at Louisiana College. In order for the college to fulfill its mission, the administration of the college must lead with honesty and integrity. They must be held accountable for their leadership and be able to withstand the scrutiny of honest critics. I have seen the current administration make choices that harm the faculty, staff, and students of Louisiana College. These letters of concern are my way of asking those with power to intervene and stop the abuse.

When I first moved to Louisiana, I was rightly resistant to believe claims that LC administrators behaved differently than what I had witnessed. How could those who seemed so loving to me truly behave so poorly toward others? The same comment has, understandably, been made to me over the last two months. However, Christ is clear that we must behave well not just toward those who treat us well but toward everyone. The character of a person or an institution can best be judged by how critics are treated. Christ pointed out even the tax collectors, who behaved abhorrently toward many people, loved those who loved them. (Matthew 5:43-47) My positive experiences early on did not make the experiences of others untrue. My wife and I have a friend who was abused by her husband. When she finally left him, her family refused to believe that he was abusive. How could he be? He was such a good Christian. In reality he was like the tax collector- loving to some and abusive to others.

I pray that the situation at Louisiana College will improve. But, it will not happen on its own. It will not happen unless the apathy of our convention subsides and we demand better. It will not happen unless those of us who say we abide in Him remember the weightier matters of the law: justice and mercy and faith. The role and mission of Louisiana College is crucial. We need academically strong institutions based on a love for Christ and the authority of Scripture. However, without a foundation of integrity and a commitment to truth all Louisiana College does is in vain. As the Apostle John wrote, “I have not written to you because you do not know the truth, but because you know it, and that no lie is of the truth.”

In Christ,

Rondall Reynoso

P.S. Attached you will find the following documents:

1) A PDF version of this letter entitled “Follow-up to Concern for Louisiana College letter.” My original Letter of Concern can be found at http://www.thetowntalk.com/assets/pdf/DK17414559.PDF

2) The statement I prepared to read to the Faculty Affairs Advisory Committee entitled, “Response to Dismissal Letter (adjusted & redacted).” This document is a thorough response to the charges that were brought against me and has been redacted to protect the identity of students and former students. This statement documents many of the claims made in my original letter.

3) “Overhauser Testimony” is the written statement by faculty member Beth Overhauser which resulted in her termination.
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    TV Censorship in China; Reflections on the Yuan as a Global Reserve Currency; Hype Sells

    An interesting article in the Financial Times got me thinking once again about the popular notion that the Yuan is about to replace the dollar as the global reserve currency.

    Please consider a couple brief snips from Beijing in fresh TV censorship move
    The Chinese government has stepped up censorship of local television in a sign of the broadening of a political crackdown that has landed many dissidents in jail.

    China has severely clamped down on activists since February when an anonymous online appeal called for demonstrations along the lines of the “jasmine revolution” sweeping north Africa and the Middle East.

    Authorities have detained scores of human rights lawyers, activists, and writers. They have also arrested Ai Weiwei, the contemporary artist.
    Reserve Currency Requirements

    So what does this political crackdown say about the likelihood that the Yuan will soon replace the US dollar as the world's reserve currency? First consider what it takes to be the world's reserve currency.

    1. Deep, liquid, open bond markets
    2. Floating currency
    3. Property rights, civil rights
    4. Political stability
    5. Political freedom

    China flunks on at least 4 of 5 points, and arguably all 5. It may be a decade before China even floats the Yuan. How long before China has a deep, liquid, bond market? You tell me, because I don't know, but I assure you it is not in the next three years.

    For further discussion please see Bogus Threats to US Reserve Currency Status: No Country Really Wants It!

    Yet somehow hyperinflationists persist in spreading nonsense that the Yuan is somehow on the verge of replacing the dollar as a global reserve currency and that may cause hyperinflation.

    There certainly may be more local trading in the Yuan. In fact, it is likely. That does not imply the death of the dollar or the loss of reserve currency status and it certainly does not portend hyperinflation.

    Hyperinflation is the complete loss of faith in a currency. Should that happen to the US, the entire global banking system blows up. Global trade blows ups. If China refuses US dollars, then China's exports to the US stop, overnight. So do Japan's.

    So what does that do to the economies of Japan and China? What would that do to the economies of Canada and Australia? Think about Chinese and Japanese exports and the demand for commodities.

    Whether they realize it or not, that is the story hyperinflationists peddle. It simply is not a credible story as noted in Hyperinflation Nonsense.

    Hype Sells

    No Virginia, the US Dollar is Not Headed to Zero any time soon. Might the dollar slowly decay over decades? Sure why not? It already has. However, that is not hyperinflation.

    Yes, the US has problems, so does Japan, so does China, so does the Euro-Zone, and so does the UK. Indeed global currency problems and insolvent banks are everywhere one looks.

    However, myopic eyes are primarily focused on the US. Here's the deal. The US dollar is not suddenly going to zero vs. the Pound, the Yen, the Yuan, or the Euro, yet that is what hyperinflation implies.

    Why is the "hyperinflation is imminent" scare everywhere you look? The answer is simple: Hype Sells.

    The bigger the hype, the sexier the story, and the more people are attracted by it.

    Mike "Mish" Shedlock
    http://globaleconomicanalysis.blogspot.com
    Click Here To Scroll Thru My Recent Post List

    Hooray! Greece "Saved" Again; Can it Possibly Matter?

    The overnight markets were all giddy about the notion that Greece will be saved for the umpteenth time. I have a set of questions: How can it possibly matter?

    What about Ireland?
    What about Portugal?
    What happens when Spain needs a bailout?
    What happens if the markets lose confidence in Italian debt?

    Further problems in Ireland, Portugal, Spain, and Italy are all highly likely, and the first three are a given. So does, it matter that Greece is saved?

    By the way, IS Greece saved? How many times can a country be saved?

    In case you missed it on this long holiday weekend, please consider Europe at the Abyss; US Housing in the Abyss; Who is to Blame? for a look at structural problems facing Europe and the US and who is to blame for them.

    Mike "Mish" Shedlock
    http://globaleconomicanalysis.blogspot.com
    Click Here To Scroll Thru My Recent Post List

    lieutenant john f kennedy usn in the south pacific

    via: twitter @navynews
    Recovering after destroyer ran him over, who'd thought this skinny Navy man would have ship named 4 him? http://ow.ly/56q4F #JFK
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    110529-O-ZZ999-003 FILE PHOTO (circa 1943) Lt. John F. Kennedy in the South Pacific. (Photo courtesy the John F. Kennedy Presidential Library and Museum, Boston/Released)
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    higher res photo at link
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    see also
    navy.mil
    navy names next aircraft carrier uss john f. kennedy
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    the jfk label
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    Is Tropical - The Greeks

    Don't usually get the chance to gas about music videos I like; but shouts to Parisiens Mega-Force for perfectly capturing what being a 9 year old boy is all about. Yep, living out hyper-violent fantasies in some parallel suburban dystopia. I will add that I wasn't in on Friday when it dropped but in the 6 hours between watches it went from 57 views to 57,000-0dd. At time of writing over 780,000. Props.

    Kreayshawn: As seen by Super Duty Tough Work

    You may or may not have come across Kreayshawn, the 21 year old 'cinematographer, editor and rap beast' who's latest music video 'Gucci Gucci' did the blog rounds last week. I must admit at first I wasn't sure what to think. All I saw was an eccentric looking hipster white girl rapping poorly over a stripped down instrumental. Although she looked fly-ish, appeared to be having lots of fun and I recognized a few of the guys from Odd Future in the video, the music did not impress me. It did however intrigue me; as artists such as Lil B and Soulja Boy have shown, nowadays talent and good songs are not necessarily a prerequisite for success. With nearly 1,500,000 hits in just over two weeks, Kreayshawn must be doing something. I'm just not quite sure what. Then I came across this post on SuperDutyToughWork which helped to explain the phenomena which is Kreayshawn. Rumoured to have just signed a $1 million deal with Sony, this won't be the last you hear of the Cali resident.


    Clear Tones



    A lot of people don't like ringtones of any kind. I'm of the disposition that Vibrate is one of the best "tones" out there, however sometimes it does lead you to missing a few calls if you're not paying that much attention. Well for those of you who do need some audial stimulant to pick up the blower Joachim Baan and sound designer Hugo Weij have birthed the concept of Clear Tones.

    Clear Tones are simple, elegant and stripped back tones for those who would like subtle notification, there's fifty of these hand made monophonic chimes for the "serious iPhone user." You can purchase them for 7€ or you can pay for them with a tweet, which is pretty convenient and FREE.









    I haven't got an iPhone so I'll just stick with my Crackberry that does weird things like turn itself off.

    Writer's Block

    Or should that be Blogger's Block?