US, Iran Hold Secret Talks

Independent UK:

Iran and the United States have been engaged in secret "back channel" discussions for the past five years on Iran's nuclear programme and the broader relationship between the two sworn enemies, The Independent can reveal.

One of the participants, former senior US diplomat Thomas Pickering, explained that a group of former American diplomats and experts had been meeting with Iranian academics and policy advisers "in a lot of different places, although not in the US or Iran".

"Some of the Iranians were connected to official institutions inside Iran," he said in a telephone interview from Washington. The group was organised by the UN Association of the USA, a pro-UN organisation. Its work was facilitated by the Stockholm International Peace Research Institute, a government-funded think-tank chaired by the former chief UN weapons inspector for Iraq, Rolf Ekeus.

While the nuclear issue was "prominent", Mr Pickering said, "we discussed what's going on domestically in both countries and wide-ranging issues" affecting the US-Iran relationship. Although none of the group members was from the US or Iranian governments, he said that "each side kept their officials informed". The Bush administration "did not discourage us," he added.

Mr Pickering declined to go into greater detail for fear of jeopardising future meetings of the group of about a dozen Americans and Iranians, although the number of participants varies. Back- channel talks have often provided crucial impetus in solving the world's most intractable disputes. They usually only become public in case of agreement, as seen with Northern Ireland and the Oslo accords on the Middle East, or failure, as in the case of an Israeli-Syrian informal channel.

NATO Gives Weapons to the Taliban.

KABUL, Afghanistan: A coalition helicopter trying to supply Afghan police with munitions dropped supplies in the wrong location and Taliban fighters later recovered the weaponry, an intelligence official said Sunday.

A member of parliament, however, said he didn't believe the arms drop was an accident.

Amrullah Saleh, the head of Afghanistan's intelligence service, told a parliament security committee "coalition forces" intended to place weapons, ammunition and food at a police checkpoint in a remote section of the southern province of Zabul in late March.

"By mistake it was dropped somewhere far from the checkpoint. Later the Taliban came and they picked it up," Saleh later told reporters.

In his testimony he said a "small box" had been dropped but did not say how many weapons were inside.

It was not clear whose helicopter left the supplies. NATO's International Security Assistance Force and the U.S.-led coalition said it was not theirs.

Hamidullah Tukhi, a lawmaker from Zabul, told the security commission the weapons were placed 100 meters (300 feet) from the home of a Taliban commander named Mullah Mohammad Alam. He said the supply drop contained heavy machine guns, AK-47s, rockets and food.

Lawmakers discussed the issue with President Hamid Karzai and U.S. Gen. Dan McNeill, the top NATO commander in Afghanistan, he said.

"I think Gen. McNeill himself said that it was a mistake, but I don't believe it," Tukhi said, adding he did not know which nation dropped the supplies.

Saleh told journalists Tukhi's version of events was based on "rumors."

Maj. Richelle Dowdell, a spokeswoman for NATO's ISAF, said the helicopter involved was not NATO's. Lt. Richard Ulsh, a spokesman at the U.S. base at Bagram, said the U.S.-led coalition was not involved either.

Chavez; IMF is Selling Gold Cheap.

CARACAS, Venezuela -- Venezuelan President Hugo Chavez said Saturday that his government could afford to buy some of the International Monetary Fund's gold reserves as the Washington-based lender faces hard times.

Chavez raised that idea with a chuckle as the IMF, the lender of last resort for countries in trouble, considers trimming costs by selling off some of its gold reserves.

"Look at how the U.S. empire must be in unimpeded decline, that the International Monetary Fund ... is selling its crown jewels," Chavez said during a speech at a military parade.

"The International Monetary Fund is selling what gold it has left to be able to pay salaries," Chavez said. "We could give a loan to the monetary fund. ... We could buy some gold bars. ... I think they're selling gold cheap."

Chavez spoke as the IMF and World Bank were holding weekend discussions in Washington. One proposal on the agenda would trim 15 percent of the IMF's staff and sell about $11 billion in the institutions' vast gold reserves.

A vociferous critic of the U.S. government, Chavez also has long opposed the policies of the IMF and the World Bank. He called the IMF "the financial arm of the empire."

The leftist leader spoke during a parade marking the anniversary of a failed 2002 coup that briefly drove him from power. He accuses U.S. President George W. Bush's government of being behind the coup, which U.S. officials deny.

Speaking to troops, Chavez said of the U.S.: "It's an empire in decline, but it's still very dangerous."

Has the Constitution Been Suspended Since 2001?

George Washington's Blog:

In two previous posts (here and here), I showed that Continuity of Government (COG) plans were implemented on September 11th, and I argued that it is possible that they have never been suspended.

Now, one of the top investigative journalists in the country, Larisa Alexandrovna (the lead journalist at Raw Story), says:

"it seems to me that this administration has justified its crimes by NOT suspending the state of emergency that went up on September 11, 2001. They are using emergency powers if you look at the whole of the spying, military actions inside the US, etc. I would wager that if asked, this administration will admit that we have been in a state of emergency for their tenure in office."

Remember that Continuity of Government plans -- that is, the measures that go into effect in case of emergency -- suspend the Constitutional form of government, cut elected officials out of the loop, and may even allow the government to tell the media what it can and cannot report.

Remember also that the entire Homeland Security Committee of the U.S. Congress has been denied access to the government's Continuity of Government Plans even though it has clearance to view such plans (video; or here is the transcript). Indeed, a member of that Committee has said "Maybe the people who think there's a conspiracy out there are right".

If we are in a state of emergency and COG plans are in effect, then Congress acting even more obviously like corporate and military lapdogs than normal and totally ignoring the will of the people would make sense. It would make sense that "impeachment is off the table", because Congress would not even be sitting at the table under a non-constitutional COG form of government; and Congress certainly would not be a co-equal branch of government with the Executive branch.

If we are in a state of emergency and COG plans are in effect, then the corporate media's acting even more obviously like the disinformation arm of the government than usual would make sense.

Given the stakes, it is vital that we demand that Congress and the White House state on the record whether or not Continuity of Government plans are currently in effect. We're not going to make any progress on whatever issue is most important to us -- peace, liberty, election integrity/vote fraud, 9/11 truth, etc. -- if we are living under a COG regime and we don't even know it.

And our strategy will be different depending on whether we are living under a COG regime or a Constitutional form of government.

We have to find out one way or another.

Peter Dale Scott has researched the history of COG extensively. Here he is discussing COG and Cheney's role therein:

Dark Side of the Hill.

Pink Floyd’s Roger Waters has attacked democratic hopeful Hillary Clinton – calling the senator from New York “ghastly”.

Waters, who admits to being a fan of Clinton’s rival for the democratic nomination, Barack Obama, said that Clinton would invade Iran if she was elected America’s next president.

“I was so disappointed the other night when the ghastly Hillary got Texas and kept the whole thing going," he told the Independent.

"Please God, let's not have this woman! Hillary will want to make her mark and show that she can be just as good as a male president, and she will fucking invade Iran.

“Trust me. She voted to declare the Iranian Republican Guard a terrorist organisation!"

Despite being ineligible to vote, Waters, who lives in New York, said he would “buy a whole page in The New York Times” in order to “fly Obama's flag”.

“But I would be terribly afraid they'd go, 'This is that pinko shitbag who's attacking our President in time of war',” he added.

Clinton and Obama next face off against each other in the Philadelphia primary on April 22nd.

The eventual winner of the democratic nomination will go head-to-head with Republican John McCain in the battle to become the country’s president in November.

UN Official Calls For Study of Neocons' Role in 9/11

NY SUN:

A new U.N. Human Rights Council official assigned to monitor Israel is calling for an official commission to study the role neoconservatives may have played in the September 11, 2001 terrorist attacks.

On March 26, Richard Falk, Milbank professor of international law emeritus at Princeton University, was named by unanimous vote to a newly created position to report on human rights in the conflict between Israel and the Palestinian Arabs. While Mr. Falk's specialty is human rights and international law, since the attacks in 2001, he has devoted some of his time to challenging what he calls the "9-11 official version."

On March 24 in an interview with a radio host and former University of Wisconsin instructor, Kevin Barrett, Mr. Falk said, "It is possibly true that especially the neoconservatives thought there was a situation in the country and in the world where something had to happen to wake up the American people. Whether they are innocent about the contention that they made that something happen or not, I don't think we can answer definitively at this point. All we can say is there is a lot of grounds for suspicion, there should be an official investigation of the sort the 9/11 commission did not engage in and that the failure to do these things is cheating the American people and in some sense the people of the world of a greater confidence in what really happened than they presently possess."

Mr. Barrett, who is the co-founder of the Muslim-Jewish-Christian Alliance for 9/11 Truth, said in an interview yesterday of Mr. Falk, "I would put him on a list of scholars who are sympathetic to the 9/11 truth movement."

He added, "Unlike most public intellectuals today, he is both honest and very, very knowledgeable in that he understands the probable reality of 9/11. He understands that the evidence that it was a false flag operation is very strong."

The narrative that the attacks from 2001 were a "false flag" operation is a recurring theme in the literature challenging the consensus that 19 Al Qaeda hijackers flew commercial jets into the World Trade Center and the Pentagon. False flag refers to espionage or covert actions taken by one government made to seem like the work of another. The false flag thesis has it that the Bush administration is somehow responsible for the September 11 attacks as a pretext for the wars in Afghanistan and Iraq.

Mr. Falk yesterday did not return e-mails and phone calls asking for a comment. But in 2004 he wrote the foreword to the book "The New Pearl Harbor," by David Ray Griffin. Mr. Griffin has posited that such an inside job is the likely explanation for the attacks.

In the preface, Mr. Falk writes, "There have been questions raised here and there and allegations of official complicity made almost from the day of the attacks, especially in Europe, but no one until Griffin has had the patience, the fortitude, the courage, and the intelligence to put the pieces together in a single coherent account."

When asked for a comment about the appointment of Mr. Falk, a former American ambassador to the United Nations, John Bolton said, "This is exactly why we voted against the new human rights council." A spokesman for the American embassy at the United Nations offered no comment yesterday when asked.

A spokeswoman at the United Nations, Nancy Groves, yesterday also declined to comment. "I would not make a comment on how the member states vote on appointments. It is their council, they make their decisions," she said.

Mr. Falk's selection to the post as rapporteur has already prompted the government of Israel formally to request that Mr. Falk not be sent to their country. The Israeli press has reported that he may even be barred from entering the country.

The deputy permanent representative of Israel to the United Nations in New York, Daniel Carmon said, "We are asking the U.N. not to send him. We cannot agree to Mr. Falk's entrance into Israel in his capacity as the rapporteur."

One reason the Israelis are concerned about his appointment is that Mr. Falk has compared Israel's treatment of Palestinian Arabs to the Nazi treatment of Jews in the holocaust. In an April 8 BBC interview, Mr. Falk said he stood by the Israel-Nazi comparison.

The national director of the Anti-Defamation League, Abraham Foxman, issued a statement yesterday saying, "This was clearly a singularly inappropriate choice for this position. Falk's startling record of anti-Israel prejudice should have been enough to preclude him from a position where an unbiased observer is needed to report on the status of human rights in the territories."

In a February 16, 1979, op-ed for the New York Times, Mr. Falk praised Ayatollah Khomeini and bemoaned his ill treatment in the American press. He wrote, "The depiction of him as fanatical, reactionary and the bearer of crude prejudices seems certainly and happily false."Nearly nine months later, student followers of Khomeini invaded the American embassy in Tehran and held 52 diplomats hostage for the following 444 days.

Germany Cancels Biofuels Plans.

Earth Times:

Berlin - Amid growing fears that biofuel farming is harming the environment and driving up world food prices, Germany cancelled on Friday plans to mix more ethanol made from plants with petrol. Environment Minister Sigmar Gabriel said the decision was taken because 10 per cent ethanol in petrol would rot the hoses and gaskets of millions of auto engines. But he said an order for diesel fuel to contain 7 per cent ethanol remained in place.

Gabriel rejected accusations of blundering and cast blame on car manufacturers for not telling him in time that 3 million engines were vulnerable if the current ethanol supplements were increased.

He said he refused to force millions of German motorists to buy a more expensive, ethanol-free grade of petrol.

At a news conference, he acknowledged the wider criticism of ethanol, saying, "It's now being asked if producing ethanol actually causes more damage to the climate than the fuel it is meant to replace."

The change of mind over petrol means Germany must reduce its overall 2009 target for biofuel addition to motor spirits from 6.25 per cent to 5 per cent, as measured by by energy yield, Gabriel said.

But he insisted a European Union target of 10 per cent overall by 2020 remained achievable. The conversion to ethanol had been hailed as an indirect way of reducing Europe's carbon-dioxide emissions.

There has been a storm of criticism of Gabriel, a Social Democrat, since he foreshadowed the climbdown on Wednesday. Opponents said he ought to have known much sooner about the ethanol problems.

Biofuel plans are under attack round the world because of forest clearances and because of the recent run-up in world grain prices. India banned rice exports Monday in response to the shortage.

Economists say the diversion of land to fuel growing is reducing the world's potential to grow food at a time when grain demand in Asia is soaring.

Iraq, Iran and Oil for Dummies feat Prof. Palast

India, Venezuela Sign Energy Pact.

There goes Exxon's oil. Wave, Exxon.

India has signed a five-year, $400m joint venture with Venezuela to drill for oil and gas in Venezuela's south-eastern Orinoco region, officials say.

The state-owned Petroleos de Venezuela (PDVSA) will hold a 60% stake, and India's Oil and Natural Gas Corporation (ONGC) will control the remaining 40%.

The ONGC will invest $450m in the project.

Venezuela is Latin America's leading oil producer, with an estimated 100 billion barrels of crude oil reserves.

The venture is likely to double Orinoco's oil production to 60,000 barrels a day.

'First step'

Venezuelan officials say that the deal is expected that production will start within three years, and that the project will yield 232 million barrels of crude over the next 25 years.

"It's the first association agreement between the two countries," said Venezuelan Oil and Energy Minister Rafael Ramirez, adding that it was "a first step" towards further energy cooperation.

The Fading US Economy.

By Paul Craig Roberts

09/04/08 "ICH " --- - According to the Bureau of Labor Statistics, the US economy lost 98,000 private sector jobs in March, half of which were in manufacturing. Today 13,643,000 Americans are employed in manufacturing, of which 9,849,000 are production workers.

Government employs 22,387,000 Americans, 8,744,000 more than manufacturing. Even the category leisure and hospitality employs 13,682,000 Americans, slightly more than manufacturing. There are as many waitresses and bartenders as production workers.

Wholesale and retail trade employ 21,467,000 Americans. Professional and business services employ 18,036,000 Americans of which 8,368,000 are in administrative and waste services. Education and health services employ 18,699,000 Americans.

Financial activities employ 8,228,000 Americans. The information sector employs 3,010,000. Transportation and warehousing employ 4,532,000. Construction employs 7,338,000, and natural resources, mining and logging employ 751,000. Other services such as repair, laundry, and membership associations employ 5,516,000 Americans.

This is the portrait of the US economy according to the Bureau of Labor Statistics. It is an economy in which government is the largest employer. Manufacturing employment comprises just under 10% of total employment and about 12% of private sector employment. Everything else is services, and not particularly high level services.

Is this a portrait of a super economy?

To help answer the question, consider that US imports in 2007 were 17% of US GDP, according to the National Income and Product Account tables provided by the Bureau of Economic Affairs. In contrast, the BEA industry tables show that in 2006 (2007 data not yet available) US manufacturing comprised only 11.7% of US GDP.

If US imports actually exceed total US manufacturing output by 5% of GDP, it does not seem possible that the US can close its massive trade deficit. Even if every item manufactured in the US was exported, the US would still have a large trade deficit.

The NIPA and industry tables from which the percentages come are not calculated identically, and I do not know to what extent differences might exaggerate the differences between the percentages. However, it seems unlikely that mere calculation differences would account for US imports exceeding US manufacturing output.

If the US cannot close its trade deficit, it is unlikely that the US dollar can remain the world reserve currency. If the dollar were to lose the reserve currency role, the US government would not be able to finance its annual red ink budget by borrowing from foreigners, as the US saving rate is about zero, and the US would not be able to pay its import bill in its own currency. The rest of the world continues to hold depreciating US currency, because the dollar is the world reserve currency. The dollar is certainly not a good investment having declined dramatically against other traded currencies.

From March 2007 to March 2008 the US economy created 1.5 million new jobs (in services). Legal and illegal immigration and work visas for foreigners exceed US job creation.

During the current school year, 3.3 million high school students are expected to graduate. If we assume that half will go on to college, that leaves 1.6 million entering the work force. College enrollment in 2007 totaled 18 million. If we assume 20% graduate, that makes another 3.6 million job seekers for a total of 5.2 million. Clearly, immigration, work visas, and high school and college graduates exceed the 1.5 million jobs created by the economy. Unless retirements opened up enough jobs for graduates, the unemployment rate has to rise.

The US unemployment rate is creeping up, and according to John Williams, the official unemployment rate greatly understates the real rate of unemployment. Williams has followed the changes that government has made to the official indices over the years in order to spin a more politically palatable picture. Williams uses the original methodology prior to the decades of spin. The original way of measuring unemployment indicates the current rate of unemployment in the US to be 13%, much higher than the 5.1% official number. http://www.shadowstats.com/alternate_data

Williams also calculates the CPI according to the same way it was officially calculated prior to the recent decades of spin. Williams estimates the current CPI at 12%, three times higher than the official 4% figure.

Williams reports that upward growth biases built into GDP modeling since the early 1980s “have rendered this important series nearly worthless as an indicator of economic activity.” http://www.shadowstats.com/article/57 Williams estimates that US GDP growth has been in negative territory during almost all of the 21st century. The notion that the US is just now entering a recession is nonsense if we have in fact been in recession for most of the 21st century.

America’s post-World War II economic dominance was based on the destruction of other economies by war and socialism. It is a different world now, and Americans have given little thought to the economic challenges of the 21st century.

The Swiss are the New Al Qaeda, and Iran is their Bin Laden.

"A major US Jewish organization on Tuesday stepped up opposition to a multibillion-dollar Swiss-Iranian natural gas deal by claiming it makes Switzerland "the world's newest financier of terrorism."

'When you finance a terrorist state, you finance terrorism,'' said the New York-based Anti-Defamation League in full-page advertisements in major Swiss newspapers and in similar ads in The New York Times, The International Herald Tribune and The Wall Street Journal.

The US government and the World Jewish Congress have criticized Switzerland for the deal, saying it gives encouragement to Tehran's hard-liners.

"ADL is concerned that Iran's profits from the energy deal could help the regime to accelerate and complete its nuclear weapons program and provide tens of thousands of additional missiles to Hizbullah and Hamas, two terrorist groups and sworn enemies of Israel who routinely benefit from Tehran's largess," said a statement on the league's Web site."

The problem with the ADL is not their chutzpah, though they clearly have that in abundance, but rather that their hysterical accusations of anti-semitism are becoming laughable because their charges are just outlandish. Israel's own policies in the region are threatening her very existence.

But back to the main point: It is not anti-semitic to have business ties with Iran.

Case in point, this story:

"Israel imports Iranian oil on a large scale even though contacts with Iran and purchasing of its products are officially boycotted by Israel. Israel gets around the boycott by having the oil delivered via Europe. A reliable Israeli energy newsletter, EnergiaNews, reported this last week [March 18] ...

"EnergiaNews got the information about the Iran trade from sources with ties to the management of Israeli Oil Refineries Ltd ... According to EnergiaNews the Iranian oil is liked in Israel because its quality is better than other crude oils.

"The report by EnergiaNews editor Moshe Shalev states that the Iranian oil reaches various European ports, mainly in Rotterdam. It is bought by Israelis and the necessary European bill of lading and insurance papers are supplied. Then it is transported to Haifa in Israel. The importer is the Eilat-Ashkelon Pipeline Co (EAPC), which keeps its oil sources secret." (Guardian)

Where's your righteous indignation now, ADL? Shitheads.

And let's not forget terror and violence being perpetrated by Israel against Iran, with the assistance of sympathetic groups such as the MEK and PJAK. That terrorism doesn't get mentioned.

So, Who's Going to Jail Here?

VANCOUVER — — The Purdy Crawford-led road show for commercial paper investors reached a dramatic crescendo yesterday as the rarely frazzled lawyer appeared to lose his cool, raising his voice to tell one angry questioner that more would be done for individual investors.

Mr. Crawford faced his largest and most vocal crowd by far in Vancouver as he wrapped up the five-city cross-country tour he undertook to present to investors the plan his committee came up with to fix Canada's frozen $32-billion commercial paper market.

Many investors said it wasn't enough. One woman cried after telling Mr. Crawford she had to go back to work at age 65 because of her third-party asset-backed commercial paper investments.

Mr. Crawford's breaking point appeared to come as Bill Galine, executive vice-president of Universal Uranium Ltd., lobbed in a number of questions, including "who is going to jail here?"

Edwards Won't Endorse Either Candidate.

LAS VEGAS (Reuters) - Former Democratic presidential candidate John Edwards said on Thursday he would not accept the nomination for U.S. vice president as he did four years ago.

Edwards, a former senator from North Carolina, dropped out of the 2008 race that is still being contested by the two remaining Democrats, Barack Obama and Hillary Clinton, to see who represents the party in the November 4 general election.

One day Edwards is belting out fiery anti-corporate stump speeches, saying he's "in it till the end" and then he disappeared-- he was nowhere to be found. He was likely threatened, which would explain his sudden and unanticipated withdrawal, not to mention the subsequent vanishing act. That would also explain why he doesn't want to get involved with either of the factions vying for control. Fair play, really.

China's Great Leap Into Gold.

GOLD-BUG fever is spreading.

From China to the Middle East, new ways to invest in gold are rapidly popping up in developing countries.

It's transforming the market for one of mankind's most venerable ways to sock away wealth.

The door is opening to a new class of investors who previously wouldn't have had access to gold futures and other tools.

Their rush to invest has helped fuel soaring prices - gold crossed $US900 an ounce for a time in the past week, and there are some calls for $US1000 - while adding volatile new dynamics to the market.

On January 9, thousands of Chinese investors jumped into the bullion market when the country's first gold futures contract were launched. Futures are agreements to buy or sell something at an agreed upon price in the future, and are traditionally the domain of the pros, not individuals. [...]

A slew of other new investments like these are planned in markets from Dubai to Mumbai.

In India, the top lender, State Bank of India, plans this year to launch an exchange traded fund that focuses on gold - enabling investors to trade gold much like a regular stock.

The World Gold Council, a London-based gold-mining industry group, says it is seeking to roll out its first gold ETF in Dubai this year, pending regulatory approval.

Last August, the Osaka Securities Exchange in Japan rolled out a gold-linked bond aimed at smaller investors. [...]

Chinese officials have suggested their country's growing demand for commodities is a reason that its three commodity futures exchanges should play a greater role in global pricing.

Sun Zhaoxue, chairman of China Gold Association, is quoted on the Shanghai Futures Exchange's website as saying the new gold contract will "improve China's influence on the global metals market and pave the way for China to set the prices in the market".
(The Australian)

George W. Bush Sewage Plant proposed in SF

"Looking to honor the forty-third President of the United States of America, George W. Bush, the recently formed Presidential Memorial Commission of San Francisco is looking to change the name of the Oceanside Wastewater Treatment Facility. It seems the group would like to rename the SF Zoo adjacent facility to the 'George W Bush Sewage Plant,' SFist reports. The grassroots movement is "proposing an ordinance initiative for the November 2008 San Francisco ballot" (HuffPo)

Through the Looking Glass.

That's where we've gone. Check out these headlines:

Karl Rove said he's 'lived in fear' of Barbara Bush

Cheney Nixed Ban on Chemical Weapons

Secret Memo Justifies Warantless Surveillance after 9/11

Docs Show Pentagon Now Using FBI to Spy on Americans.

High Level Bush Officials Pressured Underlings to Use Torture.


All on one day, and all from the same site(Raw Story).

This upcoming election is such a spectacle that people don't even pay attention to these stories anymore. All I know is, none of the candidates is talking about these most important stories(except the Barbara Bush one).

Ron Paul Lectures Bernanke About Fascism.

Where We're At.

Courtesy Mish:

• Housing is imploding.
  
• There are $500 Trillion in derivatives that no one can possibly understand the financial risks on.
  
• A huge portion of those derivatives are with JP Morgan (JPM).
  
• Bear Stearns stock went from $170 to $10 in a year in Shotgun Wedding between Bear Stearns and JP Morgan arranged by the Fed
  
• Questions Linger Over Lehman's Balance Sheet as Lehman Brothers (LEH) is leveraged 31.7 times.
  
• Citigroup (C) had to be bailed out by Abu Dhabi Deal Raises Questions About Citigroup's Health
  
• Merrill Lynch needed $6.6 Billion Bailout From Kuwait, Mizuho.
  
• Cost of Capital "Ratchets Up" at Citigroup and Merrill
  
• Morgan Stanley (MS) sold 9.9% of the firm to China after handing out huge bonuses.
  
• People are walking away from homes
  
• Businesses Are Advised To Walk Away from agreed upon deals.
  
• There is an open public debate on Moral Obligations Of Walking Away
  
• 1 in 10 of the entire state of Ohio is on food stamps.
  
• Florida, Ohio, and Michigan are in an economic depression.
  
• There is No market for Asset Backed Commercial Paper (ABCP)
  
• German Banks Fears Global Meltdown caused by US subprime debt
  
• There is a $1.1 Trillion HELOC Problem
  
• Unemployment is poised to soar.
  
• Commercial real estate is massively overbuilt and poised to plunge.
  
• Goldman Sachs (GS) is calling for another $460 billion in writedowns.
  
• The SEC Openly Invites Corporations To Lie.
  

Iranian Navy Receives Stealth-Capable Submarine.

RIA Novosti:

TEHRAN, November 28 (RIA Novosti) - Iran's Navy commissioned Wednesday a domestically designed and produced light submarine featuring extended stealth capability and strong firepower, state television reported.

The submarine, dubbed Ghadir, is reportedly fitted with noise-reduction features and is capable of firing missiles and torpedoes simultaneously.

"This submarine is equipped with advanced weapons and electronics systems. It has been developed in the last decade by [Iranian] scientists and engineers," a TV program quoted Navy commander, Admiral Habib Sayyari, as saying.

The admiral also said the Navy commissioned a destroyer and a missile boat.

According to various intelligence reports, Iran has been spending a considerable share of its defense budget on modernizing its naval forces over the last decade.

"The Iranian Navy - surface ships, submarines and naval bases - is equipped with all the necessary modern weaponry, including missiles," Sayyari said. "Their [the missiles] range is sufficient to protect effectively our southern flank in the Persian Gulf."

In a separate development, Iran, which received no invitation to the Mideast peace conference in Annapolis, announced on Tuesday that it had produced a ballistic missile with a range of 2,000 kilometers (1,240 miles). The missile's range would allow it to reach Israel, as well as United States military bases in the Middle East.

Russia and Japan Form Nuclear Alliance

The plot thickens. America's military is tied up and bloodied. America's banks are enfeebled by financial fraud and are insolvent. Next play: move in on America's corporations.

RIA Novosti:

MOSCOW. (RIA Novosti commentator Tatyana Sinitsyna) - Paris is in shock: nuclear giants Atomenergoprom and Toshiba have decided to form an alliance in civilian nuclear power operations, including power plant construction and fuel production.

The two companies signed a framework agreement last week, under which the Russian company will enrich uranium produced in Kazakhstan, while Toshiba will produce nuclear fuel and undertake the designing and engineering of nuclear power plants.

The firms may establish a strategic partnership in the future, Toshiba said. By securing a stable supply of nuclear fuel through the alliance with Atomenergoprom, Toshiba hopes to sharpen its competitive edge.

Experts predict that the alliance will become the world's leader in the nuclear sector.

Previously, the market was divided between four players: the French-German alliance of Areva and Siemens, two American-Japanese groups, Toshiba-Westinghouse and GE-Hitachi, and Russia's Atomenergoprom.

The Russian-Japanese alliance will cut the number of players to three. Moreover, Toshiba now owns a 70% stake in Westinghouse.