Gimme Shelter Radio ~ 11:00 PM. EST., Wednesday, November 30, 2011 "Approaching The Finish Line" ...

Gimme Shelter Radio is the nightly live radio program of the private "Gimme Shelter" forum hosted by Phoenix. Show topics cover the global current events impacting us all.

The live show airs nightly at 11pm EST. All past shows are on-demand.

Gimme Shelter Radio @ http://www.blogtalkradio.com/phoenix3333

GOING GLOBAL HEADLINE NEWS FOR WEDNESDAY, NOVEMBER 30, 2011 .. WITH UPDATES ...

Going Global Headline News for Wednesday, November 30, 2011 .. Updated ...

Central Banks Currency Swaps/Foreign Currency Swaps ~ Central Banks Augment Currency Swap Capabilities ...

*Big News ~ Greece to get 8 billion Euro Aid Tranche Begining of December Once IMF Agrees to Pay its 2.2 Billion Share ...

China's Alibaba-Led Group Said to Prepare Yahoo Bid ...

Move by Central Banks Exhilarates Wall Street

Central Banks in Joint Action to Boost Liquidity to Markets

Bank for International Settlements’ Cecchetti Lays Out Case for Basel III, Calls for Greater Investor Vigilance

* Wow ~ Gold price rockets towards $1750 on coordinated central bank action ...

Banks are looking for new ways to settle transactions in different currencies in preparation of/if the Euro Collapses ...

Euro crash test re-voices the Greek currency market

Talabani praises the role of the U.S. and Maliki confirms the transition to state-building ...

Allawi and Mutlaq discuss with Kubler developments in the political

The President and his two Vice-Chairmen stress remedy differences between political parties and work towards module positions

In Iraq, Biden sees ‘new path’ after U.S. pullout

Senate Clears Way for Passage of Big Defense Bill ....

*Iraq, U.S. and Chapter 7 ~ Zebari Meets with U.S. Asst. Secretary Jeffrey Feltman to Discuss Iraq's Removal of Chapter VII ...

Biden to Talabani: phase following the withdrawal of diplomatic action and would cooperate in the areas of construction and development ...

Ann Curry to Interview VP Joe Biden in Iraq ~ To Air on Thursday, December 1st ...

Iraq ~ Biden: US pullout brings new relations with Iraq

Eurozone to bypass Brussels and rely on IMF ...

Sunday, December 4th ~ House completed questioning Secretary Baghdad lifted its to Sunday ...

Egypt ~ Muslim Brotherhood leads Egypt’s vote count ...

*Kuwait emir Appoints Former Defense Mininster as Prime Minister ...

Israel releases frozen Palestinian tax funds

GCC ~ Dec. 28th 2009 ~ GCC may opt first for dollar in currency union ~ The four members have help from IMF ...

Jordan and Morocco ~ No consensus on Morocco, Jordan joining GCC

Saudi riyal remains unaffected by dollar depreciation ...

UAE buys US Treasuries And The Oil-rich Gulf Nation is Committed to Keeping its Currency Pegged to the US dollar ..

Mexico's Central Bank to Back Peso .. Selling Dollars ...

Troops Prepare to Leave iraq ... Video

Going Global Headline News for Tuesday, November 29, 2011 ...

China's Alibaba-Led Group Said to Prepare Yahoo Bid ...

Jack Ma, Chairman and CEO of Alibaba Group, delivered the closing keynote address at the conference "China 2.0: Transforming Media and Commerce", hosted by the Stanford Program on Regions of Innovation and Entrepreneurship (SPRIE) at the Stanford Graduate School of Business, on Sept. 30, 2011.

November 30, 2011

Alibaba-Led Group Said to Prepare Yahoo Bid

Alibaba Group Holding Ltd. and Softbank Corp. (9984) are in advanced talks with Blackstone Group LP (BX) and Bain Capital LLC about making a bid for all of Yahoo! Inc., said three people with knowledge of the matter.

A bid may value Yahoo at more than $20 a share because of tax savings tied to the Internet company’s stakes in Alibaba and Yahoo Japan, said two of the people, who declined to be identified because the discussions are private. Yahoo shares advanced 6.9 percent to $16.79 in extended trading.

Yahoo’s board is meeting to discuss offers it received for a minority stake in the Sunnyvale, California-based company from bidders including TPG Capital and a group led by Silver Lake, people familiar with the matter said this week. Silver Lake’s bid valued Yahoo at about $16.60 a share, these people said. TPG Capital’s offer was higher, they said.

Some Yahoo investors say they would prefer the company be sold in its entirety, at a higher price. “It definitely has to be much higher than $16.60,” said Di Zhou, a Santa Fe, New Mexico-based analyst at Thornburg Investment Management, which oversees about $80 billion in assets, including Yahoo shares.

Continues ...read more ..

While the Alibaba group has prepared financing for a possible offer, it hasn’t decided on a final price or whether to proceed, the people said. The group would prefer to be invited to bid rather than going hostile, one person said. Alibaba hasn’t informed Yahoo of its possible bid, this person said.

No Decision Yet?

“Alibaba Group has not made a decision to be part of a whole-company bid for Yahoo,” John Spelich, a spokesman for Hangzhou, China-based Alibaba, said in an e-mailed statement.

At $20 a share, Yahoo would be valued at 24.1 times earnings in the past 12 months, data compiled by Bloomberg show. That would compare with 20.4 times for Google Inc. (GOOG) and a ratio of 9.5 for Microsoft Corp.

Yahoo shares rose 1 cent to $15.71 yesterday at the close in New York. The stock has fallen 5.5 percent this year.

The $20 price tag would undervalue the company because its Asian assets have so much growth potential, said Thornburg’s Zhou, who puts the value at about $25 a share. Yahoo, the largest U.S. Internet portal, owns about 40 percent of Alibaba, the top e-commerce site in China, and 35 percent of Yahoo Japan.

Zhou wants to see Yahoo hold on to the Alibaba stake until the Chinese company can hold an initial public offering, providing a windfall to investors.

“Chinese Internet penetration and e-commerce is going well,” she said. “It should be more valuable by the day.”

Chinese Growth

Total Internet users in China may grow 27 percent this year, with the number of online shoppers climbing 28 percent, according to Thornburg.

Alibaba is seeking to buy back the stake in its company that Yahoo owns. Softbank, meanwhile, wants to acquire the stake in Yahoo Japan, one of the people familiar with the matter said.

In the proposed deal, Blackstone and Bain would take control of the U.S. operations, the person said.

Spokeswomen for Blackstone, Softbank and Yahoo declined to comment.

Alibaba Chief Executive Officer Jack Ma said in October that his company is interested in purchasing Yahoo. Earlier attempts by the Chinese e-commerce leader to buy out Yahoo’s stake faltered amid disagreements with former CEO Carol Bartz. Yahoo acquired the Alibaba stake for about $1 billion in 2005.

While Alibaba is in advanced talks with Blackstone and Bain, the company is also in discussions with other private- equity firms, including Providence Equity Partners Inc., about an offer, one person said.

Ken Sena, an analyst at Evercore Partners Inc. in New York, puts Yahoo’s total value at about $18 a share, with $5 coming from the U.S. Internet business. The so-called off-balance-sheet assets -- including the Asian investments -- are worth $11 a share, plus $2 in cash, he said. By buying the whole company, Alibaba would avoid having to negotiate over how much Yahoo’s main business is worth, Sena said.

“Almost two-thirds of the enterprise value is really these off-balance-sheet assets,” he said.

More on Blackstone .. J.P. Morgan Gets Yuan Fund Approval And .. Blackstone Group and Carlyle Group are each raising money for separate five billion yuan RMB funds ... ~ US-Linked Yuan-Based Private Equity Funds Exploding ... and .. ~ Carlyle to Form Buyout Fund With Beijing Government and .. U.S. and China - Private Equity Currency Funds and .. Blackstone Seeks to Invest in the Banking Market in Britain

Democrats Need to Re-Think U.S. Energy Policy

Charles K. Ebinger, director of the Brookings Institution's Energy Security Initiative, writing in the L.A. Times (emphasis mine):

"Let me say upfront that I have always been a Democrat. However, I also vote my conscience and have supported independent candidates. Today, energy policy is one area where I think my party is wrong.

Today's Democratic leadership has reached a nadir in rational energy policymaking. In the last several years, congressional party leaders have squandered opportunities for a nuclear waste management storage program and have shown opposition to shale gas production. This month, the party reached a new low: The Obama administration's delay of the Keystone XL pipeline from Canada, in spite of its promise of an additional 750,000 barrels of oil per day and the thousands of new jobs it would create, was an inexcusable political decision unbecoming of a pragmatic leader.

The former generation of Democratic legislators would have embraced the energy opportunities before the United States today. Whoever is president in 2013, it will be the first time in 40 years that the United States has a serious chance to transform its energy landscape. The previously accepted inexorable decline in U.S. oil and gas production is being reversed: New "tight oil" — resources trapped in low-porosity formations such as shale rock — could provide the country with several million barrels of oil per day in the coming decades, and the country's abundant and accessible shale gas reserves may leave us gas independent for up to a century. There also are still conventional reserves to be tapped, most notably in Alaska, where the Beaufort and Chukchi seas and the North Slope hold an abundance of hydrocarbon reserves.

Exploitation of these resources would have a number of benefits. Increased domestic oil production, coupled with growing imports of Canadian oil sands, would result in a reduction of non-North American oil imports, leading to a significant improvement in the country's yawning trade deficit. Increased gas production would be valuable for cleaner electricity generation (when compared with coal) and could also signal a revival of the U.S. industrial and petrochemical sectors. Further, if natural gas can be deployed in the commercial heavy-duty vehicle fleet, we would be able to reduce our oil imports dramatically. We may even be able to export gas to our allies and trading partners.

The Democratic leadership must start facing the hard truths about energy and stop proselytizing that renewable sources of energy can replace the fossil fuels currently in use. This is not to argue that the reduction of fossil fuel emissions is not an urgent priority. However, the emphasis must be on job creation and on building the 21st century energy infrastructure that will reestablish America's primacy in the world. The size of our energy resources gives us the wherewithal to make this transition."

MP: Amen, Brother Ebinger.

(Thanks to Warren Smith for the pointer.)

Move by Central Banks Exhilarates Wall Street

Snip ~ "It is a short-term solution," said Jack Ablin, chief investment officer at Harris Private Bank ..."The bottom line on any central bank action is that it papers over the problems, buys time and in some respects takes pressure from politicians .. If nothing's done in a week, this market gain will disappear" ...

November 30, 2011

Move by central banks exhilarates Wall Street

A move by the world's central banks to lower the cost of borrowing exhilarated investors Wednesday, sending the Dow Jones industrial average soaring 490 points and easing fears of a global credit crisis similar to the one that followed the 2008 collapse of Lehman Brothers.

It was the Dow's biggest gain since March 2009 and the seventh-largest of all time.

Large U.S. banks were among the top performers, jumping as much as 11 percent. Markets in Europe surged, too, with Germany's DAX index climbing 5 percent.

"The central banks of the world have resolved that there will not be a liquidity shortage," said David Kotok, chairman and chief investment officer of Cumberland Advisors. "And they have learned their lessons from 2008. They don't want to take small steps and do anything incrementally, but make a big bold move that is credible."

Wednesday's action by the banks of Europe, the U.S., Britain, Canada, Japan and Switzerland represented an extraordinary coordinated effort.

But amid the market's excitement, many doubts loomed. Some analysts cautioned that the banks did nothing to provide a permanent fix to the problems facing heavily indebted European nations such as Italy and Greece. It only buys time for political leaders.

"It is a short-term solution," said Jack Ablin, chief investment officer at Harris Private Bank. "The bottom line on any central bank action is that it papers over the problems, buys time and in some respects takes pressure from politicians. ... If nothing's done in a week, this market gain will disappear."

Continues ...read more ..

Banks stocks soared as fears about an imminent disaster in the European financial system ebbed.

American and European banks are connected by contracts, loans and other financial entanglements, meaning that a European financial crisis would punish U.S. bank stocks. The brighter outlook that emerged Wednesday relieved some investor concerns.

JPMorgan Chase & Co. jumped 8.4 percent, the most of the 30 Dow components. Morgan Stanley rose 11.1 percent and Citigroup Inc. 8.9 percent.

Worries about the financial system — and the reluctance of the European Central Bank to intervene — have caused borrowing rates for European nations to skyrocket. Wednesday's decision reduced the rates banks pay to borrow dollars — a move that aims to make loans cheaper so that banks can continue to operate smoothly.

European banks rely on dollars to cover loans they have promised to consumers and businesses and pay for investments in U.S credit markets. They traditionally have tapped short-term funding from U.S money market mutual funds and other banks. But money market funds have been pulling dollars from Europe in recent months, and lending between banks has dried up.

In response to the new rates, the euro rose sharply, while U.S. Treasury prices fell as demand weakened for ultra-safe assets.

The Dow rose 4.2 percent to close at 12,045. It has more than gained back the 564-point slump it had last week. It is up 813 points, or 7.3 percent, so far this week. The last time the Dow closed up more than 400 points was Aug. 11.

The Standard & Poor's 500 closed up 52, or 4.3 percent, at 1,247. The Nasdaq composite index closed up 105, or 4.2 percent, at 2,620.

Seven stocks rose on the New York Stock Exchange for every one that fell. Volume was heavy at 5.7 billion shares.

Surging commodity prices lifted the stocks of companies that make basic materials such as steel. United States Steel Corp. gained 15.3 percent, the most in the S&P 500. AK Steel Holding Corp. added 13.4 percent. Energy stocks also leaped. Alpha Natural Resources Inc. rose 15.2 percent, Peabody Energy Corp. 14.3 percent.

The act by the central banks took some pressure off the financial system, which has signaled in recent days that many banks were losing faith in their trading partners. And it offered hope that more help was on the way.

"People are taking comfort that it's globally coordinated," said Peter Tchir, who runs the hedge fund TF Market Advisors.

The move would have a limited effect, he said, "but the bulls are anticipating that this is just the beginning of central bank and other actions" to ease market pressures.

Any successful plan would have to reduce borrowing costs for Italy and other indebted nations, Tchir said. Italy's borrowing costs edged lower Wednesday, but the nation was still paying more than 7 percent interest for 10-year borrowing — a dangerously high level.

European finance ministers in Brussels have been meeting since Tuesday but have failed to deliver a clearer sense of how the currency union will proceed. More leaders gather next week on Friday for a summit.

In another attempt to free up cash for lending, China on Wednesday reduced the amount of money its banks are required to hold in reserve. It was the first easing of monetary policy in three years, and analysts are expecting more.

Growth in China, which has the largest economy after the European Union and the U.S., could be crucial to sustaining any recovery after the debt crisis.

A string of positive U.S. economic news also propelled the market higher. An index measuring manufacturing in the Midwest surged to a seven-month high; private company hiring jumped in November to the highest level this year, according to payroll company ADP; and the number of contracts to buy homes jumped in October to the highest level in a year.

link

Twitter

Follow me on Twitter for daily updates, news, blog posts, links, economic reports, headlines, re-tweets, data, charts, etc.

Bank for International Settlements’ Cecchetti Lays Out Case for Basel III, Calls for Greater Investor Vigilance

November 3, 2011

Bank for International Settlements’ Cecchetti Lays Out Case for Basel III, Calls for Greater Investor Vigilance

Mark Harrison, CFA

As G20 leaders met in Cannes to address Europe’s monetary and economic crisis, in Paris Stephen Cecchetti was calling for greater investor vigilance and tighter regulation of the shadow banking sector. Speaking at the fourth annual CFA Institute European Investment Conference, the Head of the Monetary and Economic Department at the Basel-based Bank for International Settlements defended new Basel III rules that tighten capital and liquidity requirements for banks against criticisms from bankers that the rules are curbing lending and holding back economic recovery.

Cecchetti began his talk by highlighting the imperfections of large banks. “While the financial pile-up had many causes, we must not overlook the critical role played by a number of very large global banks with insufficient capital, inadequate liquidity, and poor risk management practices,” Cecchetti said. “We are rewriting the rules of the road to prevent such an accident from recurring.”

On the subject of the much-maligned activities of financial regulators, Cecchetti told Conference delegates that “we know that the quality of regulation and supervision mattered, since the banking systems of some countries proved to be more resilient to the crisis than others.”

A new framework for regulating and supervising systemically important financial institutions is now being developed by the Financial Stability Board and the Basel Committee on Banking Supervision. The new framework, Cecchetti explained, comprises three complementary components: greater loss absorbency, more intense supervision, and stronger resolution.
Continues ...read more ..

Still, Cecchetti hasn’t just got his eye on regulating the large banks. “No institution is too big to fail,” he said. Cecchetti is thus working to create a level playing field for both large and small financial institutions, and that must mean increased regulation for the shadow banking system.

“There is a lot of work left to be done to ensure that the creators of systemic risk face obstacles,” said Cecchetti. “Owners and managers must be forced to face the costs of the systemic risks that they create. A combination of higher loss absorbency, streamlined resolution, and more intense supervision must reduce both the likelihood and impact of failure.”

New proposals from the rule-making Basel Committee require additional capital from banks to absorb possible losses. Using an example of a bank with a total common equity requirement of 9%, Cecchetti said that “national supervisors can use their discretion to add an additional counter-cyclical buffer of up to 2.5% under conditions when excess credit growth seems to be promoting a build-up of systemic risk.

Taking into account Basel III’s tougher definition of capital, the result is a substantial and necessary increase in minimum capital requirements.”

Cecchetti defended Basel III’s introduction of a leverage ratio as a backstop to the risk-based measure. “The gains from this are twofold,” he said. “First, it can help contain the build-up of systemic risk that can arise when leverage expands quickly. Second, it guards against the mismeasurement of risks during booms.”

While acknowledging problems with the implementation of the leverage ratios, in particular the fact that derivatives complicate calculation and measurement, Cecchetti said he was confident this measure could help identify problematic risks.

The economist also responded to critics who claim that the new proposed regulations will be highly detrimental.

One report by The Institute of International Finance argues that the changes will increase lending rates by at least 300 basis points and that banks will need to raise $1.3 trillion in new capital, GDP will fall by 3% over the next five years, and seven million jobs will be lost.

Nonetheless, Cecchetti said he believes “that changes in capital and liquidity regulation will have only a modest impact on credit availability.”
Investors have a critical role to play alongside the rule-makers, Cecchetti contended. While falling short of allocating all of the blame for recent events on investors, he pointed to the key role of equity and bond investors in monitoring and taking responsibility for their investments in large banks. “You must push institutions to behave more responsibly,” Cecchetti told the audience of more than 200 investment management professionals.

Using the example of Swiss bank UBS, which in 2006 had CHF 2.4 trillion of assets supported by only CHF 50 billion of shareholder equity capital, Cecchetti observed that “just because something is legal doesn’t make it wise. This is something that investors should have spotted.”

Another example arose in the management of sovereign risk. According to Cecchetti, under Basel II, big banks were supposed to use their own internal modeling to differentiate risks. But this led to cherry-picking when they assigned weights to sovereign exposures. The result was less control of risk. “Even if the authorities allowed this,” Cecchetti asked, “shouldn’t management, especially the chief risk officer, have insisted on using the results of his own credit evaluation? And shouldn’t sell-side and buy-side analysts alike have insisted that banks do their homework on this?”

In the end, the prize for successful banking regulation is a dull one: stability and predictability as a background for steady economic growth.

“The Basel III reforms in general — and those for systemically important financial institutions in particular — will succeed if, 20 years from now, you analysts can look back on a prolonged period of sustained, predictable, even boring profits in the financial sector,” Cecchetti concluded.

link

* Wow ~ Gold price rockets towards $1750 on coordinated central bank action ...

Bumped ~ Article of the Day .. recent articles below ... This is all looking really good, check out the following links, kel ~ CURRENCY SWAPS 2008-2009-2010 LINKS ~
November 30, 2011

Gold price rockets towards $1750 on coordinated central bank action

Regular readers will be not surprised at all today by the news that central banks around the world are taking ‘coordinated action’. Coordinated action of course is euphemism for money printing and the news was good to spike gold all the way towards $1750 and £1110.

So what is this ‘coordinated action’? From the release by the BoE:

The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing coordinated actions to enhance their capacity to provide liquidity support to the global financial system. The purpose of these actions is to ease strains in financial markets and thereby mitigate the effects of such strains on the supply of credit to households and businesses and so help foster economic activity.

Continues ...read more ..

These central banks have agreed to lower the pricing on the existing temporary U.S. dollar liquidity swap arrangements by 50 basis points so that the new rate will be the U.S. dollar overnight index swap (OIS) rate plus 50 basis points. This pricing will be applied to all operations conducted from 5 December 2011. The authorization of these swap arrangements has been extended to 1 February 2013. In addition, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank will continue to offer three-month tenders until further notice.

As a contingency measure, these central banks have also agreed to establish temporary bilateral liquidity swap arrangements so that liquidity can be provided in each jurisdiction in any of their currencies should market conditions so warrant. At present, there is no need to offer liquidity in non-domestic currencies other than the U.S. dollar, but the central banks judge it prudent to make the necessary arrangements so that liquidity support operations could be put into place quickly should the need arise. The swap lines are available until 1 February 2013.

The introduction of the network of temporary swap lines will enable the Bank of England to provide sterling to the other central banks if required, as well as enabling the Bank of England to provide liquidity, should it be needed, in Japanese yen, euro, Swiss francs and Canadian dollars (in addition to the existing operations in U.S. dollars).

link

Save the euro in 10 days or see the EU disintegrate, ministers are warned

November 30, 2011

Save the euro in 10 days or see the EU disintegrate, ministers are warned

Europe's leaders are faced with a stark deadline of 10 days to save the euro or face the disintegration of the European Union itself.

The warning from Olli Rehn, EU economic and monetary affairs commissioner, came after central banks intervened to prevent a complete freezing-over of the west's financial sector because of the politicians' continued failure to resolve the sovereign debt crisis.

EU finance ministers were told bluntly that, with eurozone unemployment at 16.3m or 10.3% – the highest level since the single currency was introduced – an unchecked debt and banking crisis would push Europe into a deep slump and drag the rest of the world with it.

link

Banks are looking for new ways to settle transactions in different currencies in preparation of/if the Euro Collapses ...

01/12/2011

Orientations of the euro currency to replace the old

Baghdad - and the agencies

Preparing European banks in this time-all and what will happen in the euro area, in anticipation of a possible collapse of the European Union.

Operating financial companies, which pumps about $4 trillion a day to the European market, to test systems that enable them to deal with the trading European currencies that were used before the imposition of the euro as the currency standard.

Corporation (ICAP) global function as a mediator for e-commerce and the provision of services trade in Britain, is preparing to use the systems, electronic trading in other currencies, in an attempt to forestall the exit of Greece, probably from the euro zone and return to the use of currency drachma.

Quoted newspaper, the Wall Street Journal informed sources that the banks are looking for new ways to settle the transactions in different currencies, and conduct stress tests in preparation for the disintegration of the euro area.

Continues ...read more ..

indicate the moves on the signs of deep concern about leaving more than one country for the euro, at a time in which he says, analysts and experts banks are preparing for the possibility of increasing disintegration of the euro area, in whole or in part, which is likely to return the use of currencies earlier such as the drachma, the German mark or the Italian lira.

This was a scenario far-fetched only a few months ago, but investors and analysts now say they had no choice but to prepare, even if not the application of this scenario.

While pundits will express concern about the repercussions of the financial crisis by the collapse of the euro area, including the possibility of a financial crisis a new global.

The burden of dealing with this change is largely on the inner workings of the currency market, where they will face officials currency regulations more challenging than the challenge in 2009, when they were unified European currency.

Continue European leaders in efforts to find a solution to the debt crisis, despite the fact that investors are losing confidence that they will be able to control the growing crisis.

Aknowledged by many politicians that the situation is fraught with risks Increasingly, as Italian Prime Minister Mario Monti said on Friday that the European leaders to discuss the possibility very seriously the end of the euro, recognized that the collapse of the austerity measures in Italy mean the end of the European Monetary Union, composed of 17 members.

It is due to meet leaders of the euro area again this week in an attempt to support the plans to contain the crisis of mass of growing debt, including proposals to establish a fund to save, while repeats of some policy makers, to invite the European Central Bank to make more effort to strengthen the government bond markets, where the yield on sovereign debt in recent weeks.

It is not uncommon for financial institutions to prepare for the worst-case scenario, even if the rate was likely to occur significantly.

Has been issued, analysts at Merrill Lynch, America's report suggests how it will be the reaction of the euro in the event of a break-up, and put the value of the currencies of the individual, such as the French franc and Italian lira. While the disintegration of the euro is not a basic rule in the scenario but analysts considered that it is worth consideration.

Has been issued, analysts at other banks, including Nomura Holdings of Japan, reports discussing the possible end of the euro, and advised clients to verify their statements of bonds denominated in euros for ascertain if it can be converted to local currencies, such as the drachma, which could swamp the market quickly.

Been trying financial institutions such as ICAP to anticipate what might happen in the hours and days of shock in the event of dissolution of the euro, say executives at the company that it can be used drachma as a project as a road map for how to prepare for this outcome involving multiple currencies, and shook the dust off the old bonds used were archived after Greece joined the euro a decade ago, in preparation for use as a basis a new company's business after the collapse of the euro.

link

Euro crash test re-voices the Greek currency market

November 30th, 2011

Euro crash test re-voices the Greek currency market

Worsening debt crisis in Europe, the core euro area countries suffered the occasion of infection, the euro collapse of the voices, the foreign exchange market has already begun preparing for, the introduction of emergency measures to prevent the disintegration of the impact of the euro. Meanwhile, the foreign exchange market traders began to assume that Greece withdraw from the euro area, re-use currency drachma, foreign exchange trading system stress testing. The largest inter-bank foreign exchange broker Shang Yi has prepared a set of linked exchange electronic trading system, it may withdraw from the euro area of ??Greece, and restored using the original currency “drachmas” (drachma) to prepare for.

Continues ...read more ..

ICAP’s electronic broking system (EBS) is the world’s most widely used cash trading system, the size of the global foreign exchange transactions every day around 4 trillion U.S. dollars. ICAP is not likely to withdraw from the euro zone to Greece for the 17 countries considered, we just take precautions against the return of the Greek currency drachma electronic trading system to be tested. This is a test by responding to customer concerns. If a customer expressed concern, we will look into the matter. We are just testing the system to prepare for contingencies.

From the end of 2009 debt crisis in Greece since the debt crisis in Europe has lasted two years, during which, the debt crisis is not reduced signs, but appeared to exacerbate or Italy, France and Germany and other core countries tends to spread. In this regard, the world’s leading investment banks and credit rating agencies have warned European policymakers must unite as one end of the debt crisis in Europe, whether those threats to the euro collapse. It is also, two in Europe since the debt crisis, the global investment bank with the worst credit ratings agencies to issue a warning.

Euro zone sovereign debt and banking crisis threatened to worsen the credit rating of all euro area countries. And that the euro area countries can no longer ignore the possibility of default. Part of the world’s largest banks and financial regulators are worried about the prospects for the euro area, in view of the possibility of the disintegration of the euro area, U.S., UK and Hong Kong’s financial and banking regulatory authorities have been co-examine this possibility; especially if some countries out of euro, the new issue will be how to exchange the national currency, what is the extent of the impact of the global market.

If the disintegration of the euro area, the euro will react, and from the German mark, French franc to Italian lira and other currencies were assessed value. Analyst wrote that, although the possibility of the disintegration of the euro area is not large, but it is also worth considering. Eurozone financial crisis has entered a new phase of even more dangerous, “the euro area before the collapse solution is approximately half chance, probability and the current surge. Foreign exchange settlement platform CLS Bank International also started the disintegration of the euro against the stress test.

10 developed countries, according to tracking the performance of the relevant currency weighted index, over the past three to the euro has fallen 0.7%, the other hand, the dollar rose 8.5%. At the same time, the data show the cumulative depreciation of the euro in the past one to 1.2%, while the dollar has fallen 2.4%. In addition to ICAP and CLS, there are other trading systems supplier to prepare for the pre-euro breakup. Immediately from the currency processing system to add or remove money. If a change when the euro, our currency processing system will be immediately adopted measures to deal with.

link

Talabani praises the role of the U.S. and Maliki confirms the transition to state-building ...

01/12/2011

Talabani praises the role of the U.S. and Maliki confirms the transition to state-building .. Met Biden in private

BAGHDAD - Al Sabah

Praised President Jalal Talabani, the U.S. role in helping the Iraqi people get rid of the most notorious dictator and destroy, and the establishment of a democratic and federal.

with Prime Minister Nuri al-Maliki that Iraq today has moved from the stage of security challenges to the stage of state building, and will contribute the strategic framework agreement in achieving this goal.

hailed Talabani during a meeting with U.S. Vice President Joe Biden, America's role in the process of rebuilding Iraq and its institutions and to assist in achieving stability.

And confirmed by a presidential statement received (morning) a copy of that Iraq aspires to strengthen relations and development at all levels between the two countries would serve the common interests of the peoples of Iraq and the United States, noting that the next stage is the stage to promote cooperation and joint action in all fields according to the agreement signed between the two countries.

on the other hand, said Biden, according to the statement that the phase following the complete withdrawal of troops is a stage vital work of diplomacy and cooperation in the fields of construction and development, especially in the economic, commercial, agricultural and education, in addition to training, stressing the desire of the United States to develop relations of friendship and cooperation with Iraq in the light of the signed agreement and the desire of both countries to improve the relationship and develop areas of joint action.

Continues ...read more ..

It was in the meeting, which attended by U.S. Ambassador James Jeffrey and the commander of U.S. forces in Iraq, Gen. Lloyd Austin, talk about the relations between Iraq and its regional and international community, also discussed political developments in Iraq to that Maliki said during his meeting with U.S. Vice President Joe Biden and the delegation accompanying him, according to a statement issued by his press office has received "morning," a copy of it, "We have finished a difficult task, and security challenges, and today we open a new page of mutual relations within the strategic framework agreement in the economic, commercial, agricultural, scientific, cultural and other."

promised this meeting is an important step deserves to remember, because it lays the foundation for the relationship growing between Iraq and the United States through the work of the High Joint Committee between the two countries, which was established under the strategic framework agreement.

He has signed two agreements with the United States, the first agreement to withdraw its troops from Iraq by the end of this year, and the second strategic framework agreement which include cooperation in various fields.

"We have finished a difficult task, which is the face of security challenges, and today we open dish of new mutual relations within the strategic framework agreement in the economic, commercial, agricultural, scientific, cultural and other."

confirmed that the general of the Iraqi people have made ​​great sacrifices , when faced with terrorism that has crippled the political and civic life at various levels, and our experience in this regard deserve to be a model for other countries.

He said the ambitions of Iraq and the United States will be achieved through the relationships and common interests and parity.

He said the area today are going through the conditions of a sensitive and experiencing many variables, What is the need to avoid negative impacts and to stand by the peoples to freedom and to achieve their demands according to the principles of democracy, and we are in Iraq, establish countries have been engaged in the affairs of others, but does not allow others to intrude in their affairs, and to be pivotal in the stable area free of fluctuations, not to be the center against other hubs, and our aim is to be Iraq, a brother and a friend and a certain all partners and friends in the region.

For his part, Vice President according to the statement: Iraq has suffered during the last decades of the regime of Saddam dictatorial, and then made ​​great sacrifices when faced with terrorism, but to overcome the challenges that confronted him, he deserves respect and appreciation for their determination and ability and determination to promote and to overcome the jam of the circumstances.

The heading for the day of the dialogues natural in Iraq, even to join other countries in the world that contribute to the cultural, scientific, and others.

continued our conversation today comes within the strategic framework agreement , which we hope through it to extensive relations between the two countries based on respect for sovereignty, and we are working together to expand cooperation in scientific, cultural, commercial, economic, agricultural and others.

He said that the United States affirmed its commitment to what he promised, when it withdrew its troops from Iraqi cities by the year 2009, and in 2010, when it withdrew its combat troops, and today complement what you have agreed with Iraq in 2008 and completed its withdrawal from Iraq by the end of this year, and heading toward the beginning of the extensive relationships with him within the strategic framework agreement.

In a related context the Committee held a coordinating joint higher between Iraq and the United States on a meeting, the presence of Prime Minister and Vice President, where he presented the two sides during the meeting Raitema on ways of cooperation in economic, trade and diplomatic, scientific, cultural, agricultural and others.

reviewed the heads of the committees from both sides what has been achieved so far in these areas, and must work on it in order to achieve the highest level of cooperation between the two countries.

The focus by the Commission for Higher Coordination common ways to develop cooperation in the fields of politics and diplomacy, as well as cooperation between the two countries in international fora, and in the areas of education and cultural exchange, services and technology, environment, transport, trade, money and energy, as well as in the judiciary and law enforcement.

link

Allawi and Mutlaq discuss with Kubler developments in the political

01/12/2011

Allawi and Mutlaq discuss with Kubler developments in the political

BAGHDAD - Al Sabah

discussed the existing Iraqi President Iyad Allawi and Deputy Prime Minister, leader of the Iraqi List, Saleh al-Mutlaq with a representative of the Secretary-General of the United Nations in Iraq, Martin Kobler in Baghdad yesterday developments the political situation in Iraq with the imminent withdrawal of U.S. troops.

A press release said the Office of Mutlaq news agency reported »Nina» that the meeting discuss the political situation of Iraq in light of internal developments and regional with the imminent withdrawal of U.S. military forces from the country, he said, adding that the meeting which was held at the home of al-Mutlaq and the presence of the leaders and deputies of the Iraqi List addressed the importance of dealing with the file of Camp Ashraf to ensure the safety of population and preserves their dignity and according to norms and international laws and humanitarian, according to the statement.

As stressed al-Mutlaq, the importance to take the UN mission in Iraq, its role in various joint humanitarian and political, economic, and maintenance of the principles of human rights and to promote justice and to monitor violations of the dignity of the Iraqi citizen and undermine the security and safety of his property, has expressed Kubler for hope that they will bring Iraqi political parties to the agreements leading to the strengthening of the foundations of democracy and human rights in Iraq, calling for parliamentary blocs and political forces to show some flexibility with a view to the participants establish a system of stable and homogeneous.

link

The President and his two Vice-Chairmen stress remedy differences between political parties and work towards module positions

Wednesday, 30-11-2011

The President and his two Vice-Chairmen stress remedy differences between political parties and work towards module positions

Baghdad, The President and his two deputies held in Baghdad on Wednesday evening, a meeting devoted to remedy differences between political parties and strive to achieve unity of attitudes, policies and joint action, following the withdrawal of u.s. troops from Iraq.

According to a statement of the Presidency of the Republic received (News News Agency): the meeting unanimously "to appeal to all parties stop campaigns immediately refrain from rhetoric and abandonment justified in media discourse and cultural fraternity constructive language in addressing the problems and shortcomings and mistakes and within policy frameworks and parliamentary and ministerial and respect for agreements and ministerial solidarity and genuine participation in rights and duties".

Added: the meeting "urged all authorities to observe the Constitution and citizens ' rights in accordance with the laws and principles of democracy and human rights, recalled that the President of the Republic, in accordance with article 67 of the basic law, to ensure compliance with the Constitution, thus defending the citizens and their constitutional and legal".

He assembled to "proceed immediately to prepare for a bilateral summit meetings and triple and Quad and then invited to the meeting of representatives of various political parties to pave the way for broad national talks involving all political forces vives.

They expressed hope the response of all the parties to this appeal this call and work together to achieve the desired collaboration.

link

McDonald's Outsmarts San Francisco Politicians

SF Weekly -- "Local McDonald's employees tell SF Weekly the company has devised a solution that appears to comply with San Francisco's "Healthy Meal Incentive Ordinance" that could actually make the company more money -- and necessitate toy-happy youngsters to buy more Happy Meals. 

It turns out San Francisco has not entirely vanquished the Happy Meal as we know it. Come Dec. 1, you can still buy the Happy Meal. But it doesn't come with a toy. For that, you'll have to pay an extra 10 cents.

Huh. That hardly seems to have solved the problem. But it actually gets worse from here. Thanks to Supervisor Eric Mar's much ballyhooed new law, parents browbeaten into supplementing their preteens' Happy Meal toy collections are now mandated to buy the Happy Meals.

Today and tomorrow mark the last days that put-upon parents can satiate their youngsters by simply throwing down $2.18 for a Happy Meal toy. But, thanks to the new law taking effect on Dec. 1, this is no longer permitted. Now, in order to have the privilege of making a 10-cent charitable donation in exchange for the toy, you must buy the Happy Meal.

Hilariously, it appears Mar et al., in their desire to keep McDonald's from selling grease and fat to kids with the lure of a toy have now actually incentivized the purchase of that grease and fat -- when, beforehand, a put-upon parent could get out cheaper and healthier with just the damn toy."

HT: Stuart Anderson

Question of the Day

What's the worst movie you've seen in the last month?

It doesn't have to be a new movie, or even a movie you watched for the first time. Just whatever was the biggest stinker you've seen lately.

I cast my vote for Hugo—and, for perspective on how much I didn't like it, we recently rented The Zookeeper for Bad Movie Night, and I'm still casting my vote for Hugo, lol.

News from Shakes Manor

Scene: This morning, our bedroom, way too early. Iain has just gotten out of the shower and is getting dressed; I'm still lying in bed, awake and resentful for it.

Iain: We should build a city.

Liss: We totally should.

Iain: What do you think we should build it on?

Liss: I dunno—rock and roll?

Iain: [singing] WE BUILT THIS CITY!

Liss: [singing] Duhn duhn!

Iain: [singing] WE BUILT THIS CITY ON ROCK AND ROLL! WE BUILT THIS CITY!

Liss: [singing] Duhn duhn!

Iain: [singing] WE BUILT THIS CITY ON ROCK AND ROLLLLLLLLLLLLLLLLLLLLLLLLL!

Liss: Have a good day, babe.

Iain: You, too. Don't forget to build a city on rock and roll.

Liss: Will do.


Video Description: The music video for Starship's "We Built This City."

Green Junk: 15k Abandoned Windmills Litter the Landscape; Symbols of a Dying Climate Religion

Abandoned windmills in Hawaii, click to enlarge.

From Alex Newman writing in the New American:

Despite billions in taxpayer subsidies pumped into the so-called “green-energy” industry, almost 15,000 windmills — maybe more — have been left to rot across America. And while the turbines have been abandoned over a period of decades, the growing amount of “green junk” littering the American landscape is back in the headlines again this week.

Across the country, subsidized wind farms are meeting increasing resistance — and not just from taxpayers and electricity consumers forced to foot the bill. "If wind power made sense, why would it need a government subsidy in the first place?” wondered Heritage Foundation policy analyst Ben Lieberman, who deals with energy and environmental issues. “It's a bubble which bursts as soon as the government subsidies end."

It turns out that wind power is expensive and inefficient even in the best wind-farm locations in the world. And regular power plants always need to be on standby in case there is no wind, not enough wind, or even too much of it — a fairly regular occurrence.

That is why, when the tax subsidies run out, the towering metallic structures are often simply abandoned. In their wake: a scarred landscape and dead wildlife — the very same ills offered as justifications by administration officials for preventing oil exploration.

“There are many hidden truths about the world of wind turbines from the pollution and environmental damage caused in China by manufacturing bird choppers,” noted environmental blogger Tory Aardvark in a recent post about wind farms, also citing the dangerous noise produced by turbines. He added,

"The symbol of Green renewable energy, our savior from the non existent problem of "Global Warming," abandoned wind farms are starting to litter the planet as globally governments cut the subsidies taxes that consumers pay for the privilege of having a very expensive power source that does not work every day for various reasons like it’s too cold or the wind speed is too high."

Tory Aardvark called the more than 14,000 abandoned wind turbines in the U.S. symbols of a “dying Climate Religion.”

Note: This type of renewable energy can only be produced by mixing wind with your tax dollars. And when the tax dollars dry up, the turbines stop.

Maybe It's Just Me

I didn't find this story about movers and police tasked with evicting a 103-year-old woman and her 83-year-old daughter from their foreclosed home "heartwarming" as much as I did anxiety-inducing and rage-making, with a side of relief for the temporary reprieve from a terrible fate.

This country is so fucked up.

Assvertising

High fructose corn syrup is good for me! Thanks for the non-biased info, government-subsidized corngrowers' association!

I am so tired of these commercials.

(Which I'm sure are available on YouTube, if you're inclined to watch them.)

In Iraq, Biden sees ‘new path’ after U.S. pullout

Wednesday, November 30, 2011

In Iraq, Biden sees ‘new path’ after U.S. pullout

With just a month to go to complete a full U.S. troop pullout from Iraq, Vice President Joseph R. Biden Jr. sat down with Iraqi Prime Minister Nouri al-Maliki in Baghdad on Wednesday to help forge a new relationship between the two countries.

We are embarking on a new path together, a new phase in this relationship,” Mr. Biden said at the beginning of the talks.

Mr. Biden made an unannounced visit to Baghdad late Tuesday to mark the end of the Iraq war, which began with the 2003 U.S.-led invasion that toppled former dictator Saddam Hussein and stretched on for more than eight years as factions rose up to fight the U.S. presence and clashed with one another as they vied for control of regions of the country.

As streams of convoys and transport aircraft carried troops out of the country, Mr. Biden told Mr. Maliki that a complete U.S. troop withdrawal is in the best interest of the United States and Iraq and marks the beginning of their relationship as “two sovereign nations.”

Continues ...read more ..

Mr. Biden acknowledged the turmoil Iraq has suffered over the past decade — “from the tyranny of Saddam Hussein” and by being “victimized by terror” in the years after the dictator’s fall. He thanked the Iraqi people for their resilience and resolve, calling them the country’s best “natural resource.”

“Few nations have gone through what you’ve gone through,” Mr. Biden said, “but now Iraq is poised to join the community of nations who are the great contributors to the world.”

Iraq is a “great example” of a nation that has worked its way through travails and is expressing the people’s will, Mr. Biden continued.

The exact level of ongoing U.S. military assistance is expected to be a major focus of the talks. On Oct. 21, President Obama and Mr. Maliki agreed to a drawdown of U.S. forces by the end of 2011 after the two governments could not agree on extending a “status of forces” pact for U.S. troops serving there. Some U.S. military advisers had recommended keeping several thousand American troops in Iraq into 2012, in part as a precaution against incursions from Iran.

Mr. Biden said the two allies would cooperate on security issues such as training, intelligence and counter-terrorism and set up a committee for coordinating security and defense cooperation.

The State Department will maintain a strong presence in Iraq, including an estimated 4,500 private security contractors there to protect U.S. civilian workers at the embassy and elsewhere. Already, Mr. Biden said, the U.S. has completed nearly 1,800 projects in Iraq’s health sector, valued at $800 million, including the renovation of 122 primary health centers. The U.S. also has invested in transportation infrastructure, an air traffic control network and railroads.

The U.S. civilian presence is big, Mr. Biden acknowledged, but “is sized to meet the request and the obligations and promises we’ve made.”

“If we’re going to get this job done together, we need to have people on the spot, on the job, in place, immediately accessible,” he said.

Mr. Maliki echoed many of Mr. Biden’s statements about the new phase of the U.S.-Iraqi relationship, stressing that the ties between the two countries would be based on “mutual respect.”

Iraq is now capable of protecting its internal security, Mr. Maliki said, noting that the U.S. military would continue to have a role in providing training for Iraqi forces.

Mr. Maliki also said he hoped U.S. companies would come to Iraq with the same force as U.S. troops did in 2003.

“Yes, we will face some difficulties,” he said, but as long as the U.S. and Iraq agree on a “robust partnership,” the two sides would find many mutual areas of cooperation.

The visit is Mr. Biden’s eighth to Iraq since talking office in 2009. Later Wednesday, Mr. Biden planned to attend a ceremony commemorating the sacrifices of U.S. and Iraqi troops in the eight-year-long conflict. Violence in Iraq is down since the peak of insurgency in 2006 and 2007, but attacks remain common.

link

Senate Clears Way for Passage of Big Defense Bill ....

November 30, 2011

Senate Clears Way for Passage of Big Defense Bill

Senate has cleared the way for passage of a $662 billion defense bill that has drawn a threat of a presidential veto over provisions on the treatment of captured terrorism suspects.

Continues ...read more ..

The Senate voted 88-12 on Wednesday to limit debate on the legislation and move ahead. A final vote on the bill could come as early as Thursday.
The bill would authorize funds for military personnel, weapons systems, the wars in Iraq and Afghanistan and national security programs in the Energy Department. The bill is $27 billion less than what President Barack Obama requested for the budget year beginning Oct. 1.

The bill would require military custody for captured suspects who are linked to al-Qaida or its affiliates and who are involved in a plot against the United States.

link

Photo of the Day

This undated image provided by the Scottsdale Gun Club shows a woman posing with Santa Claus and several guns at the Scottsdale, Ariz. club. Ron Kennedy, general manager of the gun club, says the business got the idea for the photo op last year when a club member happened to come in dressed as Santa and other members wanted their picture taken while they were holding their guns. He says people have used the photos for Christmas cards and Facebook posts. [AP Photo]

All right then.

I am not reflexively anti-gun; I have friends and family members who do target shooting, and I have family members who hunt for food, and, although it's not my scene, I'm pretty wev about it. I also respect that there are people who have ethical objections to gun ownership and hunting of any sort. This thread ain't about that debate.

It's about the fact that OMFG PEOPLE ARE POSING WITH SANTA WITH GIANT-ASS GUNS. Or, to be more clear, about an aspect of gun culture that has nothing to do with principled debates and everything to do with fetishizing deadly weaponry. Yikes.

Why Does a NYC Taxi Medallion Cost $1 Million?

In case it's not obvious, this podcast from Planet Money answers the question. 

Markets in Everything: Dissolving Fruit Labels

NPR -- "[A start-up firm] is preparing to roll out Fruitwash, a sticker that turns into a soap under running water. Once dissolved, the Fruitwash allegedly removes wax, pesticides, and dirt from fruit and vegetables. And while [the inventor] won't reveal what the sticker is made of, [he] says it contains all 'organic' ingredients."

HT: Fred Dent

Daily Dose of Cute

KITTEHS!


Matilda


Olivia


Sophie

Quote of the Day

"We've got real issues to talk about, not the latest bimbo eruption. ... Every time another accusation comes up, it diminishes our ability to stay focused on the issues that really do matter for the American people."—Republican presidential candidate Jon Huntsman, attempting to smear Herman Cain as a distraction from a serious campaign, but succeeding instead in dismissing the women Cain sexually harassed and abused as "bimbos," categorizing sexual predation as something other than a "real issue" which "really does matter," and defining "the American people" and survivors of sexual harassment and abuse (and their allies) as mutually exclusive groups.

Wow, Jon Huntsman. Wow.

Wednesday Blogaround

This blogaround brought to you by hemp.

Recommended Reading:

Andreana: Solidarity, White (Male) Privilege and Occupation

Batocchio: Stop the SOPA and Protect IP Bills

Jed: White House Says Obama Considering Rolling Back Mandatory Insurance Coverage of Contraception

Andy: Evansville, Indiana Passes LGBT Non-Discrimination Ordinance

Jorge: SWAT Team Raids Home of Civil Rights Attorney Working on Voting Rights

Echidne: [TW for misogyny, gender essentialism, and disablism] This is one of the worst pieces of so-called science reporting I have come across for a very long time.

matttbastard: Time's Ongoing Cover Disparity Disgrace

Renee: [TW for bullying] Child Bullied out of School Because of His Appearance

Mattie: [TW for kyriarchy in gaming] Why I Don't Feel Welcome at Kotaku

Emily: Crass Warfare: Raunch and Ridicule on Whitney and 2 Broke Girls

Samhita: TLC's Virgin Diaries Comes to the US

Leave your links in comments...

*Iraq, U.S. and Chapter 7 ~ Zebari Meets with U.S. Asst. Secretary Jeffrey Feltman to Discuss Iraq's Removal of Chapter VII ...

Bumped ...Wednesday, November 30, 2011

Zebari weviltman whereas Iraq output sound methods of item VII

Baghdad, Foreign Minister Hoshyar Zebari with us Assistant Secretary Jeffrey Feltman, who arrived with Vice President Biden yesterday to Baghdad, steps and methods of output sound from the Iraq item VII.

Foreign Ministry source said (News News Agency): Zebari on Wednesday discussed with Veltman political situation in Iraq and the region, they also discussed ways and correct steps for sound output from Iraq item VII permanently.

Continues ...read more ..

Source: Zebari also discussed weviltman organize a u.s. Embassy and consulates with the Iraqi Government, preparations and preparations for bilateral meetings between the two sides and the next Prime Minister's visit to Washington. The source: the two sides a healthy ways to eject Iraq from Chapter VII.

Washaralmsdr: the two sides discussed the Iraqi-American relations after the withdrawal of u.s. troops from Iraq by the end of the year, and consolidate at all levels, and continued source: Ascension to put Iraq in the period ahead.

link

It's Here! (Rearden Metal Edition)

Hey, remember that email from Atlas Shrugged Movie I posted about last week? The one that seemed to be advertising something, but was really not advertising anything? Well, the whole mystery has been cleared up with a new email from... drum roll please... REARDEN STEEL!

Yeah, so, the Atlas Shrugged marketing team is finally taking my advice and sending out emails from movie characters. I guess Rearden Steel is a character. As much as anyone or anything in the movie is. It's an entity. Like the Ministry of Love or the Lord of the Flies conch. Right? It would totally get its own Cliffs Notes page. Plus, it's actually clear this time what they are selling. (Cue up Pomp and Circumstance, they are ready to graduate my marketing class!)

They sent me this great email:


The copy in the email reads:

It's here. And, it's AWESOME.

Harmon Kaslow and John Aglialoro present this very Special Edition Atlas Shrugged Part I Blu-Ray packaged in an amazing one-of-a-kind REARDEN STEEL collectible case housing over 2 hours of incredible bonus material.

IT IS BEAUTIFUL.

PRE-ORDER NOW FOR DEC. 19-23 DELIVERY.

[There is also some stuff about Midas Mulligan's annual sale, whut? And the Canadian premier! Ha! Eat that, Canadians!]

Atlas Shrugged: Part 1: The Search for Spock on Blu-Ray! In a Rearden Steel metal case! Note, this is not actually made of Rearden steel because Rearden steel is fictional. But still!

You and all your friends can order this one-of-a-kind item, which kind of makes me wonder if the marketing team knows what one-of-a-kind means. But nevermind!

The Blu-Ray comes in three different versions (Oof, what's the total now, twelve? Twelve different versions of this DVD/Blu-Ray thing?) with a bunch of exclusive features like the "I am John Galt" fan video compilation which is on the regular DVD, too. This also makes me wonder if the marketing team knows what exclusive means. Ah, well, in marketing words can mean anything you want, dictionaries be damned!

So give yourself (obviously) the gift of Rearden Steel this Xmas! I know I will. (I won't.)

Speaking of Xmas (a non-denominational holiday, just FYI) this stuff is also on Blu-Ray this week:

One Day. Anne Hathaway and Jim Sturgess have sex once a year for twenty years. Special packaging: Comes inside a Page-A-Day Calendar.

Friends With Benefits. Mila Kunis and Justin Timberlake have sex. Special packaging: Comes inside a No Strings Attached DVD case.

The Adventures of Tintin. Cartoon version of the books! Woo hoo! Special packaging: Comes inside a reproduction of Tintin's rocket.

Walk a Mile in My Pradas. Switcheroo Comedy™ about a homophobe who turns gay. Boat Trip meets Vice Versa and/or Like Father Like Son. Special packaging: Comes in a time capsule from 1986.

Conan the Barbarian Reboot! About muscles and swords and (probably) does not feature any Grace Jones. Special packaging: Comes in a faux-fur loincloth.

The Smurfs Reboot! Computer-generated blue wee people (are they people?) get into hijinx and shenanigans with Doogie Howser. Retro! Special packaging: Comes in a can of creative bankruptcy.

Get shopping, Shruggers!

Biden to Talabani: phase following the withdrawal of diplomatic action and would cooperate in the areas of construction and development ...

Wednesday, 30-11-2011 06: 10 pm

Biden to Talabani: phase following the withdrawal of diplomatic action and would cooperate in the areas of construction and development

Baghdad, Commended President Jalal Talabani in Baghdad Wednesday, the American role in rebuilding Iraq and its institutions and help stabilize, came during a meeting with United States Vice President Joseph Biden, who confirmed that the track complete withdrawal of US forces is a vital stage of diplomatic action and cooperation in the fields of construction and development.

According to a statement by the Presidency of the Republic received (News News Agency) on Wednesday: President Talabani welcomed guest at the beginning of the meeting and his entourage, praising the US role in helping the Iraqi people get rid of the most notorious dictatorship and dropped a federal democratic system. He also praised the American role in rebuilding Iraq and its institutions and help stabilize.

Continues ...read more ..

Added: President Talabani said in talking with Biden that Iraq aspires to strengthen relations and development at all levels between the two countries and serve the common interests of the people of Iraq and the United States, noting that the next phase is to promote cooperation and joint action in all fields according to the agreement signed between the two countries.

The statement stressed that: Biden explained that phase following completion of the withdrawal of forces is a vital stage of diplomatic action and cooperation in the fields of construction and development, especially in the economic, commercial and agricultural education, in addition to training, stressing the desire of the United States to develop friendly relations and cooperation with Iraq in the light of the Convention signatories and two countries ' desire to improve the relationship and develop shared workspaces.

At the meeting, attended by us Ambassador James Jeffrey and Commander of US forces in Iraq General Lloyd Austin, talk about relations between Iraq and its regional and international community, as they discussed political developments in Iraq and the role of President Jalal Talabani in bringing together all political forces and work to provide a platform for action and national understanding. US Vice President praised this vital role, and expressed pride in the friendly relationship between him and President Jalal Talabani.

link