By the Editor-in-Chief – CentrePointNews
The blogosphere is alive today with talk and rumour about the Obama Administration’s alleged deal allowing the Red Chinese to secure their loans to the United States with eminent domain rights.
Under the provisions of the deal reported by both the DC Republican Examiner’s Bill Dupray and radio host Hal Turner, the Obama Administration has given the Chinese a blank check to seize American property as collateral if the U. S. defaults on its loans from the Chinese. More HERE
Like the editors at CentrePointNews, we are trying to either confirm or deny this story. Are we being sold out to the Chinese or is this some great conspiracy circulating on the ‘net? We’ll check back with CentrePointNews for the latest updates.
By Peter Zeihan (from Stratfor.com)
Oil prices have now dipped — albeit only briefly — below US$40 a barrel, a precipitous plunge from their highs of more than US$147 a barrel in July. Just as high oil prices reworked the international economic order, low oil prices are now doing the same. Such a sudden onset of low prices impacts the international system just as severely as recent record highs.
But before we dive into the short-term (that is, up to 12 months) impact of the new price environment, we must state our position in the oil price debate. We have long been perplexed about the onward and upward movement of the oil markets from 2005 to 2008. Certainly, global demand was strong, but a variety of factors such as production figures and growing inventories of crude oil seemed to argue against ever-increasing prices. Some of our friends pointed to the complex world of derivatives and futures trading, which they said had created artificial demand. That may well have been true, but the bottom line is that, based on the fundamentals, the oil numbers did not make a great deal of sense.
Last April, when tornadoes were threatening Jackson, Mississippi, many residents were not alerted to the severe weather because five tornado warning sirens didn’t work. The reason: the sirens’ copper wiring had been stolen.
A month earlier in Polk County, Florida, nearly 4,000 residents were left without power after thieves stripped copper wire from a transformer at an electric company facility. Estimated losses: $500,000. Not to mention the homeowner hassles.
And late last year, vandals removed 300 feet of copper wire from a Federal Aviation Administration tower in Ohio, threatening to interrupt communications between in-flight aircraft and air traffic controllers.
By George Friedman – from Stratfor.com
The G-20 met last Saturday. Afterward, the group issued a meaningless statement and decided to meet again in March 2009, or perhaps later. Clearly, the urgency of October is gone. First, the perception of imminent collapse is past. Politicians are superb seismographs for detecting impending disaster, and these politicians did not act as if they were running out of time. Second, the United States will have a new president in March, and nothing can be done until he defines his policy.
Given the sense in Europe that this financial crisis marked the end of U.S. economic supremacy, it is ironic that the Europeans are waiting on the Americans. One would think they would be using their newfound ascendancy to define the new international system. But the fact is that for all the shouting, little has changed in the international order. The crisis has receded sufficiently that nothing more needs to be done immediately beyond “cooperation,” and nothing can be done until the United States defines what will be done. We feel that our view that the international system received fatal blows Aug. 8, when Russia and Georgia went to war, and Oct. 11, when the G-7 meeting ended without a single integrated solution, remains unchallenged. Now, it is every country for itself.
A sophisticated “chip and pin” scam run by criminal gangs in China and Pakistan is netting millions of pounds from the bank accounts of British shoppers, America’s top cyber security official has revealed.
Dr Joel Brenner, the US National Counterintelligence Executive, warned that hundreds of chip and pin machines in stores and supermarkets across Europe have been tampered with to allow details of shoppers’ credit card accounts to be relayed to overseas fraudsters.
These details are then used to make cash withdrawals or siphon off money from card holders’ accounts in what is one of the largest scams of its kind.
In an exclusive interview with The Daily Telegraph, America’s counterintelligence chief said: “Previously only a nation state’s intelligence service would have been capable of pulling off this type of operation. It’s scary.” More from the Telegraph
It is still not known how much information was stolen. But sources inside the bank confirm that servers in the institution’s highly-restricted treasury unit were deeply penetrated with spy software last April. Invaders also had full access to the rest of the bank’s network for nearly a month in June and July.
In total, at least six major intrusions — two of them using the same group of IP addresses originating from China — have been detected at the World Bank since the summer of 2007, with the most recent breach occurring just last month.
In a frantic midnight e-mail to colleagues, the bank’s senior technology manager referred to the situation as an “unprecedented crisis.” In fact, it may be the worst security breach ever at a global financial institution. And it has left bank officials scrambling to try to understand the nature of the year-long cyber-assault, while also trying to keep the news from leaking to the public. More from National Terror Alert
Also in financial news today, World Net Daily is reporting that China is stiffing America for $100 billion in debt while Washington uses our tax dollars to help Bejing as part of the trillion dollar credit bailout. Our “ecomonic crisis” came suddenly a couple of months ago, with Congress working with unprecidented speed to pass a bill Americans did not want while we watched banks close and the stock martket go wild.
Washington is trying to sell the American tax-payer on the “theory” that the bail out is to help American banks. Why are we bailing out Bejing? It is becoming obvious that the American credit crisis is not a direct result of criminal banking practices by Fannie Mae and Freddie Mac but a part of a larger, more dangerous terrorist cyber attack.
By Rodger Baker
On Aug. 4, four days before the start of the Beijing Olympics, two ethnic Uighurs drove a stolen dump truck into a group of some 70 Chinese border police in the town of Kashi in Xinjiang, killing at least 16 of the officers. The attackers carried knives and home-made explosive devices and had also written manifestos in which they expressed their commitment to jihad in Xinjiang. The incident occurred just days after a group calling itself the Turkistan Islamic Party (TIP) claimed responsibility for a series of recent attacks and security incidents in China and warned of further attacks targeting the Olympics.
Chinese authorities linked the Aug. 4 attack to transnational jihadists, suggesting the involvement of the East Turkistan Islamic Movement (ETIM), which Beijing has warned is the biggest terrorist threat to China and the Olympics. Despite the Chinese warnings and TIP claims and the intensified focus on the Uighurs because of the Aug. 4 attack, there is still much confusion over just who these Uighur or Turkistani militants are. More from Stratfor
As if we didn’t have enough to worry about. We are seeing more and more of our jobs outsourced to other countries. The American trucking industry is fighting high fuel prices and slow freight. Now, even our truck parts will soon bear the stamp “Made in China”…
China advances on U.S. trucking
China is advancing quickly on the U.S. trucking industry with its dominating presence at the world’s largest trucking trade show, held this weekend in Louisville, Ky. Signs were posted identifying exhibits run by between 120 and 140 individuals as representatives of some 40 Chinese companies at this year’s Mid-America Trucking Show.“What we are seeing is a manifestation of the Pacific Rim Market. But their products are inferior and do not hold up. They are cheaper, but the quality is not there,” Collin Genge, an American driver for Bay Area Transport, said.It is more than just inferior products that bothers Genge. More from WorldNetDaily