Mover Mike

The Government has openly accused China of carrying out state-sponsored espionage against vital parts of Britain’s economy, including the computer systems of big banks and financial services firms.

[...]

A big study gave warning this week that Government and military computer systems in Britain are coming under sustained attack from China and other countries. It followed a report presented to the US Congress last month describing Chinese espionage in the US as so extensive that it represented “the single greatest risk to the security of American technologies”.

You traded for Zack Randolph. How do you feel after last night's game? You lost 104 to 59 to Boston, "your third worst loss and the second worst scoring performance of the shot-clock era." In that game Zack Randolph played 18 minutes, was 1 for 10 from the field, snagged 3 rebounds, 4 personal fouls and a total of 4 points.

Would you like Travis Outlaw to go with Zack?

Update:

New York Knicks Portland Trailblazers Zack Randolph

11/30 Sheldon 35, Grant 21 3rd qtr.

Update:

Grant (10-2), ranked fifth and champion of the Portland Interscholastic League, made its deepest run in the OSAA playoffs since 1964, when the Generals also lost a semifinal.

Way to go Grant. I will look forward to seeing the boys practice for another go next summer and fall in the park.

Nau Sweaters: Buy It ($87-$103)

Girls and Boys can get extra cozy with sweaters from Nau thanks to their killer blend of eco and body consciousness. We like the cuddly feeling we get from Nau’s Partner’s for Change association, too (it allows for 5% of your gifting dollars to go towards a humanitarian, environmental, or social group of your choosing).

NAU offers a beautiful Merchant Coat for $325.00, made of "recycled wool and recycled polyester." Then there is a Stealth Sweater made of "recycled animal fibers" for $116.75. For me there is the Blender Glove for $100, made from "recycled content rather than virgin oil."

I would characterize NAU as an environmentalist organization and unless they don't have a CEO, he also would be an considered an environmentalist. Wouldn't it be odd if the organizations he gives a generous 5%, wound up educating the young that he is a filthy CEO?

NAU environmentalist Mover Mike

Update:

I had picked up most of my middle schoolers headed for Beaumont, when I hear this question, "Are you an environmentalist or CEO?" This question came from Derianna, a loud, in your face student, but probable leader among her peers. My first thought was this sounded like an anti-business question. As the bus driver I get to ask questions.

I asked, "What's the difference?"

Derianna said, "The CEO believes in global warming or climate change, but believes it is NOT human caused. The Environmentalist believes in global warming and believes it is human caused."

I thought about her answer as I was seeing red. Was this definition taught in school or is it your definition?" She answered, "It was taught in school."

I thought about her answer and wanted to know if she thought critically. "Do you buy that?" No answer. Finally, I asked, "Greenpeace is a large organization, can't the CEO be an environmentalist?" No answer!

I gotta tell you, I've been concerned for quite sometime about the quality of our education and the liberal slant. Besides, this misinformation, last week when In Portland ran an interview with our new school superintendent, Carole Smith, one picture stood out and didn't make the online edition. It was of Smith in a teacher's classroom. The blackboard in the background had pictures of Che and Eleanor Roosevelt among other liberals.

Is this who our students are taught to look up to and use as role models?

Carole Smith Earthquake Mover Mike

Update:

Rafael Avelino Gines, 51, appeared Thursday in Clackamas County Circuit Court to hear charges of felony hit and run. If convicted, he would serve as much as 10 years in prison before an immigration judge decides whether to deport him, said Lorie Dankers, a U.S. Immigration and Customs Enforcement spokeswoman.

Gines told authorities he was originally from Mexico and lived in the United States illegally, Dankers said.

Mary Denise Richey, 40, of North Portland died Wednesday after she was struck trying to cross Southeast McLoughlin Boulevard near Gladstone.

Gines, who held a valid Oregon driver's license and had no criminal record in Oregon, later surrendered to police.

Mary Denise Richey Rafael Avelino Gines Jessica Bruder

Update:

and he would serve time here prior to possible deportation.

Mike: In your opinion how would ICE get involved from the outset. I mean, if he had a valid driver's license, what would you guess was the "tell"?

Jessica busy on another story, referred me to ICE or the DMV.

Do you know how to reach ICE? What does ICE stand for? Ah yes, U.S. Immigration and Customs Enforcement. Googgled ICE and I could find only a Seattle number that no one answered. Probably out chasing down illegal aliens. I decided to try the Multnomah County Sheriff's Office. Found someone to answer my questions: The arresting officer probably ran the driver's license. It proved valid, BUT...the DMV is now sharing information and the name may not have been on a list of legals here, so it was flagged.

Apparently, it is easy to get forged or stolen documents to get a valid driver's license. However, if picked up by the police, a trace can be run that nails the illegal. So I guess that's why Senor Gines ran and left Mary Denise Richey for dead.

We will never deport or would we want to deport the Hispanics in this country who are here illegally. We need to find a solution to those immigrants here illegally already AND we need to seal the borders so the problem doesn't continue to increase.

It may seem naive, but this isn't a political problem. Both political parties want the votes of the Hispanics. They hope to pander to the needs of the Hispanics hoping to benefit at the polls. However, this is a search for the humane solution without selling out the middle class of this country.

I favor some road to citizenship if those here illegally want to be citizens. I also favor a guest worker solution. Give them an ID that can be used for a driver's license, but it must be clearly labeled as such and not to be used to gain the vote. Guest workers should not be allowed to vote. Only citizens have that right.

Clearly, Hispanic workers bring a valuable set of skills to the workplace. It would not benefit our society to lose those skills.

Hispanic Work Force HGTV Pro.com Mover Mike

Police arrested 51-year old Rafael Avelino Gines of Milwaukie and booked him into the Clackamas County Jail on one count of felony hit and run. He was placed on an immigration hold by U.S. Immigration and Customs Enforcement.

Why did we trade Udoka to San Antonio who use him sparingly and we struggle with Outlaw, who most of the time is MIA in terms of scoring? I used 28 words to ask the question about Udoka!

So many questions!

Rafael Avelino Gines Mary Denise Richey Mover Mike

Update:

A consortium of six investment firms, several of them specialists in bankruptcy and liquidation sales, has emerged as the stalking horse bidder in the Levitz Furniture bankruptcy proceedings.

If their bid is successful, the investment firms would liquidate Levitz assets and would not operate the company as a going concern, said Jerry Cohen, an attorney representing several of the investment firms.

The Independent Spirit Awards are the first prominent indicator of which art-house titles could make the leap to serious award contenders.

Rescue Dawn

Talk To Me

The Namesake

Great World of Sound

Margot at the Wedding

Before the Devil Knows You're Dead

A Mighty Heart

Interview

Broken English

Juno

Lust, Caution

The Savages

Starting Out in the Evening

August Evening

Waitress

Elizabeth: The Golden Age

No Country for Old Men

Nominations for the Golden Globes will be announced on December 13.

The Oscars will take place on February 24 at the Kodak Theatre in Hollywood, with nominations to be revealed on January 22.

In response to heightened pressures in money markets for funding through the year-end, the Federal Reserve Bank of New York’s Open Market Trading Desk plans to conduct a series of term repurchase agreements that will extend into the new year.

The first such operation will be arranged and settle on Wednesday, November 28, and mature on January 10, 2008, for an amount of about $8 billion. The timing and amounts of subsequent term operations spanning the year-end will be influenced by market and reserve developments.

In addition, the Desk plans to provide sufficient reserves to resist upward pressures on the federal funds rate above the FOMC’s target rate around year-end.

Monday $10.25 Billion
Tuesday $14.75 Billion.

The Fed Funds target is 4.50%. The TOMOs had rates as low as 3.90%. You are looking at another FED rate decrease at the next meeting. Yesterday the 2-year treasury broke the 3% level, that's a 1.5% spread with Fed Funds and the 10-year treasury broke 4%, the 11th largest fall in the 10-year T-bond rate in one day since 1962! Clearly, there is a move to buy safety.

Is it time to refinance again?

10-Year Treasury 2-Year Treasury TOMOs

It is important to note for all you Oprah fans, Sen Clinton has just equated Bill Clinton with Oprah. Bev was struck by the arrogance of Sen. Clinton's insistence that she will be the Democrat's nominee.

One more thing. Sen. Hillary gets up every day. That also means she is not a vampire or blood sucking beast that many of you out there think she is. Oh, you know who you are!

Sen. Hillary Clinton Katie Couric Mover Mike

Guess who reported that 45,000 people may lose their jobs at Cirigroup? Xinhua News: Citigroup reported to layoff 45,000 employees. Even the Drudge report touted in big red headlines: ABU DHABI RESCUES CITI FOR 11% RETURN, but nothing about the expected job loss. It is comforting to know that the last bailout of Citigroup came in 1991. Prince Alwaleed bin Talal invested $590 Million in the company’s predecessor, Citicorp and that investment is worth something like 10 times what he paid for it. I don't believe the shareholders have fared as well and certainly those 45,000 employees expected to be laid off may not have fared quite so well, But the stock is up on the news!

Update:

A "virtual fence?"  When the president utilizes one around the White House we'll believe him.

The Deportation Joke!  Previously deported criminal aliens just keep coming, American citizens just keep dying!

And 100% Preventable!

This has been the Blogs For Borders Video Blogburst.

The Blogs For Borders Blogroll is dedicated to American sovereignty, border security and a sane immigration policy. If you’d like to join find out how right here.

Technorati Tags: illegal immigration, the deportation joke, mexico, murder, rape, criminal aliens, border fence, border security, sanctuary city, border patrol, manhunt,

Alpine Securitization Corporation
Barton Capital Corporation
Bavaria Universal Funding
CAFCO, LLC
Ciesco Inc.
Daimler Chrysler Revolving Auto
FCAR Owner Trust 1
FCAR Owner Trust II
Gemini Securities
Giro Balanced Funding
Jupiter Securitization
Ranger Funding
Sheffield Receivables Corporation
Yorktown Capital LLC

I emailed Ley Garnett, Press liason from the Office of the State Treasury asking "Can you assure me that Oregon has no exposure to SIV? If it does, what percent and how big of a problem are we looking at."

I received an email from him today with this two page letter as an attachment, In the letter it states

Over the past four months staff has revised the “Approved CP List” on numerous occasions, with a vigilant eye on the ABCP sector. Liquidity has substantially improved for many of the ABCP programs, but not so for those programs with any hint of exposure to subprime debt and CDOs. Although staff believes that the programs on our approved list merit inclusion in the OSTF – we feel we have separated the good apples from the bad – staff is also cognizant of the headline risk in the current environment associated with ABCP and have put these programs on HOLD until further notice.

As of November 15, 2007 ABCP exposure is 1.249% of the total OSTF. Staff does not have direct exposure to any subprime or CDO asset classes. The longest of the four ABCP holdings will mature on December 14, 2007. Here is a summary of ABCP exposure in the OSTF as of November 15, assuming no change in total OSTF assets:

It appears OSTF has reduced its ABCP exposure from 16.8% to 1.249% since the June report. How come we were so smart and so many others were caught and had huge losses?

Guess it 's time for a follow-up email to Ley Garnett. Oregon Short-Term Fund Comments Regarding Current Market Conditions

Asset Backed Commercial Paper Oregon Short Term Fund Mover Mike

Hammered by exposure to a risky type of mortgage-backed security, Brookstreet Securities Corp. of Irvine, Calif., yesterday told its 500 or so affiliated reps and advisers that "disaster" had struck, and that the firm could close if it doesn't come up with at least $5 million.

The firm's 650 independent contractor brokers have been terminated, says Stanley Brooks, President of the firm. Brookstreet clients are left in limbo, many with huge losses in their accounts.

Some of Brookstreet's clients report that their accounts continued to fall in value this week. Yet, if they attempted to do anything NFS (Fidelity's National Financial Services (NFS), which cleared trades and maintained accounts for Brookstreet.) told them they must talk to their (Brookstreet) broker, but their broker was not answering the phone. Meanwhile, Some of these clients' margin accounts slipped into the "red", meaning not only have these investors' funds disappeared but NFS now claims the investors owe it money!

Recently, a group on nuns, who claim they were led to believe they were making safe investments, apparently had their funds invested by Wedbush into mortgage-backed CMO securities which were just pools of mobile home loans. They soon lost $1 million, according to a complaint filed by The Sisters of St. Joseph of Carondelet in California against Wedbush Morgan in arbitration through the National Association of Securities Dealers.

Brookstreet Securities Corp. Wedbush Morgan Mover Mike

states that the American political “blogs” have been rife with rumors of a lesbian relationship between Hillary and Huma.

Is this a way for the Times of London to “bleed the rumor” into the mainstream media - and all the while hiding behind and blaming the blogs?

The New York Post on November 23rd, had a story entitled Palmetto Bugs about anonymous e-mails and letters claiming that Hillary Rodham Clinton was having a lesbian affair with Huma Abedin, her aide.

Hillary Rodham Clinton — with Police Commissioner Ray Kelly and her aide, Huma Abedin — has been accused of a lesbian affair with the staffer in scurrilous e-mails sent to South Carolina primary voters.

Senator Clinton's clerkship at a left-wing law firm is surprising to some of her supporters. To her opponents, it is another indication that radical ideology lurks below the surface of her moderate public image.

I spent almost an hour listening to him speak with with Jim Puplava on July 22, 2006, when his book Commodities Rising came out. He wasn't asked to make amy precious metal predictions, but a couple of things he said stood out:

First, prices of commodities in general have risen since 2003-2004 due to an investor shift in demand for commodities, mainly as a way to diversify from equities.

Second, there has been an overall upward shift in the demand curve by consumers. But, talk of a super-cycle in commodities lasting 17 years, give or take, is hype as is the hype about Chinese consumers.

Third, this market is long in the tooth. Bull markets in commodities generally last 34 to 39 months. At the time of the interview, the current bull market is about 55 months old.

Fourth, bull markets in commodities don't occur except in cases of wars; the Civil War, WWI and WWII. The rises in those markets began prior to an outbreak of hostilities.

I found it odd that he pooh-pooh the idea of a bull super-cycle in commodities, yet didn't say anything about the super-cycle bear market in Gold that went on for 25 years and ended in 2001.

On June 12, 2007, Jeffrey Christian delivered a talk, The Future of Precious Metals Markets at International Precious Metals Conference. He said:

The most obvious consequence of the growth in the world economy due to globalization and economic liberalization has been a sharp increase in the demand for most commodities, including precious metals, as increasing numbers of people become consumers financially capable of purchasing a wide range of manufactured goods, and services. This is a trend that already has had tremendous effects on commodities demand over the past decade. More importantly, if these trends are not reversed by any of the counter-vailing influences, the movement of more people into the consuming classes should continue for decades to come, with the effect of steadily increasing demand for precious metals and other commodities at a faster pace than has been the case over the past four decades. (emphasis added)

Financial market commentators still complain about the practices of the Federal Reserve Board and other monetary authorities, but the truth is that monetary policy management in the United States, Europe, Japan, and many Asian nations has been extremely successful at protecting world economic trends since the early 1980s. It seems that monetary authorities have learned a great deal about how to do their job, which is to preserve long-term price stability insofar as possible.

Jeffrey Christian continues:

This suggests that both the hyper-inflation and the deep recessions of the 1970s may be avoided in the near future, barring major economic changes on a worldwide scale. It does not mean that inflation and recession have been banished from the economic system, nor that worldwide economic cycles are a thing of the past. It means that the cycles may be more muted and less destructive than they were prior to 1985. (emphasis added)

Despite high prices, global gold mine production is actually falling. South Africa, the world's largest producer is at levels not seen since the early 1930s with production at roughly one quarter the level seen in 1970.

When I last visited Jeffrey Christian he said

Christian is on record saying that yes Gold could pop, but over the long term, gold is over valued and should average $500. Now he is calling for a seasonal AND cyclical peak of somewhere between $700 and $1,000 (why no precision here, I wonder) by April of 2007

Jeffrey Christian Gold Mover Mike

#6 Arizona State 24, #11 USC 44

Friday:

#1 LSU 48, Arkansas 50 in Triple OT

#13 Texas 30, Texas A&M 38

Saturday:

#9 Oregon 0, UCLA 16

#2 Kansas 28, #4 Missouri 36 Next Saturday, you will see the Duck offense once again chewed up by a ferocious defense, as the Ducks fall to the Oregon State Beavers and both finish with identical records. I would much rather watch the Beavers in a bowl game.

Update:

You Belong in the USA

Sweet! People either love you or hate you And you really don't care what anyone thinks Big and bold, you do things your way

Hat tip Gus Van Horn

You Are a Soy Latte

At your best, you are: free spirited, down to earth, and relaxed At your worst, you are: dogmatic and picky You drink coffee when: you need a pick me up, and green tea isn't cutting it Your caffeine addiction level: medium

Hat Tip Gus Van Horn

Nature of the hotspot and the Future:

Volcanism appears to have ceased in the western parts of the Anahim Volcanic Belt, but if the suggestion is correct, future volcanic activity can be expected in the area of Nazko Cone and east of it. Future activity from the Anahim hotspot is most likely in the form of basaltic cinder cones, but eruptions of less mafic magma, typical of the eastern sections of the Anahim Volcanic Belt, cannot be ruled out.

Nazko Cone Earthquake Anahim Volcanic Belt

Northwest Earthquake Mover Mike

The Portrait

My mother never forgave my father
for killing himself,
especially at such an awkward time
and in a public park,
that spring
when I was waiting to be born.
She locked his name
in her deepest cabinet
and would not let him out,
though I could hear him thumping.
When I came down from the attic
with the pastel portrait in my hand
of a long-lipped stranger
with a brave moustache
and deep brown level eyes,
she ripped it into shreds
without a single word
and slapped me hard.
In my sixty-fourth year
I can feel my cheek
still burning.

To all of you out there who dread spending time with your disfunctional family, you haven't seen such a family until you've seen this movie. Run don't walk to Before the Devil Knows You're Dead

Before the Devil Knows You're Dead Stanley Kunitz Mover Mike

The Fed caused the credit crunch by slashing interest rates to 1% to bail out its banking buddies in the wake of a dotcom bubble collapse. All the Fed did was create a bigger bubble.

[...]

The next logical question is "Who is paying the price?"

The answer is the poor to middle class. Wall Street made out like bandits and the of executives of Citigroup (C), Merrill Lynch(MER), Bear Stearns(BSC), Countrywide (CFC) made countless $billions.

So not only was this the biggest credit bubble in history, this was also the biggest transfer of wealth from the poor and middle class to the already enormously wealthy. That is the real travesty of justice regardless of whether or not the price tag is $1 trillion, $2 trillion, or $10 trillion.

And if you factor in rising property taxes, insurance, gasoline prices, etc, while real wages were sinking, even $10 trillion could be conservative by the time all is said and done. Whatever the figure is, Fed and Congress will be hellbent on reckless solutions that will do nothing but make matters worse.

Federal Reserve (FED) Ron Paul Mover Mike

The rumor of Hillary Clinton’s lesbian love affairs started in August of 2007 by Village Voice editors Michael Musto. Hillary and her aide, Huma Abedin, do live together at home and on the road, but the only way to nail Clinton would be to catch them together in a lesbian action.

I can even do a passable immitation of Elvis singing this song and my friend Connie goes into hysterics. Happy Black Friday everyone.

Long range models are in better agreement now, weak systems try to move in Saturday/Sunday, but 2 more significant systems arrive next Monday and maybe Wednesday-Thursday. The air behind that 2nd one next Thursday or Friday will be quite chilly. At that point models are all over the place, but there does seem to be some sort of trend for at least temporary deep West Coast troughing.

Portland snowfall Portland weather Mover Mike

map 1.4 2007/11/21 13:50:23 42.127N 120.517W 1.6 15 km (10 mi) WSW of Lakeview, OR

Oregon Earthquake Mover Mike

Japan Volcano Eruption

I was researching EURO Resources this morning because Golden Star Resources (GSS) was involved with a prospect of EURO's. EURO mentioned something about having a hedge against future production of 100,000 ounces of gold. The note said they had reduced the hedge by 50,000 ounces to 50,000 ounces.

I got digging through the balance sheet and look what I found in their third quarter report dated Nov. 15th 2007: The company in their list of liabilities has a Macquarie Bank Limited loan of 453,000€. Here's how that low originated:

The Company’s bank borrowings comprise a loan from Macquarie Bank Limited (“Macquarie”). This was drawn in two tranches:

The first tranche of $6 million was drawn on January 7, 2005, and used to pay the first installment of the Rosebel purchase price. The loan principal was repayable in nine equal quarterly installments of $666,667 commencing July 29, 2005. Final maturity is July 29, 2007. On April 26, 2007, Macquarie agreed to extend the principal payment due on April 29, 2007 until January 29, 2009. A fee of $13,333 was charged by Macquarie for this extension.

A second tranche of $3 million was drawn on September 30, 2005, and used to pay part of the second installment of the Rosebel purchase price. The principal amount is repayable in five equal quarterly installments of $600,000 commencing on October 29, 2007. Final maturity is on October 29, 2008.

EURO therefore concluded two forward sale agreements for gold:

A forward sale agreement for 57,000 ounces of gold at $421 per ounce for settlement in 10 equal calendar quarter amounts of 5,700 ounces, commencing January 2005, settling 29 days after each calendar quarter. EURO settled its last forward sale agreement of 5,700 ounces of gold at $421 per ounce on July 31, 2007.

A second forward sale agreement for 57,000 ounces of gold at $458.50 per ounce for settlement in 10 equal calendar quarter amounts of 5,700 ounces, commencing July 2007, settling 29 days after each calendar quarter.

BOTTOM LINE: The hedge of 57,000 ounces to make a bank safe on a $3 Million loan has gone against EURO (345 X 57 000) by $19,665,000!

EURO writes on its Home page

At current gold prices, the Company expects to receive in excess of US$8 million in revenue from Rosebel during 2007. Management is actively seeking the acquisition of additional royalty interests.

EURO Resources (TSX: EUR) Golden Star Resources (GSS) Mover Mike

Sycamore Networks Inc. (SCMR), a Chelmsford telecommunications equipment maker, disclosed yesterday it may face sanctions by the Securities and Exchange Commission for allegedly illegally backdating stock options it awarded to its executives.

[...]

the SEC has preliminarily decided to bring a civil action against it for possible violations of securities law.

[...]

Several other Massachusetts companies, including American Tower Corp. (AMT), RSA Security Inc. (RSAS), Analog Devices Inc. (ADI), and Brooks Automation Inc. (BRKS), also have received SEC inquiries into possible backdating.

RSA Security Inc. (RSAS) Analog Devices Inc. (ADI)

Brooks Automation Inc. (BRKS)

One claimed that Hillary Clinton was having a lesbian affair with Huma Abedin, her beautiful aide. Another online mass-mailing cautioned of the “dark secrets” of Mitt Romney’s Mormonism. A blogger claiming to support John McCain said that Rudy Giuliani's wife supported the killing of “innocent puppies”. Flyers appeared on cars accusing Barack Obama of being a Muslim extremist. An anonymous website said that Fred Thompson was a corrupt playboy.

Huma Abedin Sen. Hillary Clinton South Carolina

Here we are Nov 21, 2007! Something is wrong. "The decennial pattern for the decade shows the 7th year of a decade since 1881 has 6 years up and 6 years down. Looking at 7th year of a decade's pre-presidential election years, the four such years since 1915 were all up years." But, today according to the work of Richard Russell writing at Dow Theory Letters,

...the D-J Industrial Average closed below its August 16 low of 12845.78, thereby confirming the prior violation of the Transportation Average. In so doing, the stock market and the Dow Theory have spoken -- they have confirmed the existence of a primary bear market.

Don't panic yet, looking at the last 60 years, the market has gained 12.2 percent in the fourth, or election year (2008).

Jimmy Rodgers says we are already in a recession. Gaining 12.2% from here would take us back to 14,000. There might be a lot of people happy with that. However, nine out of 13 recessions since 1929 have begun in the first year of a presidential term. Some stocks like Citigroup (C), Countrywide (CFC), General Motors (GM), Freddie Mac (FRE), Fannie Mae (FNM), etc act like it's 1929, all over again.

Hold on tight, kiddies, it could get a little rough.

pre-presidential election year election year Mover Mike

Jim Rogers USD Mover Mike

The council voted unanimously to overturn its decision last week to rename Fourth Avenue in downtown for the farm labor leader and to take off the table a proposal to change the way the council makes street name changes. The council also voted 3-to-2 to reject Mayor Potter's earlier plan to rename North Interstate Avenue for Chavez.

Cesar Chavez Portland Mover Mike

Bloomberg on Nov 15th reports in Public School Funds Hit by SIV Debts Hidden in Investment Pools

...state-run pools have parked taxpayers' money in some of the most confusing, opaque and illiquid debt investments ever devised.

These include so-called structured investment vehicles, or SIVs, which are among the subprime mortgage debt-filled contrivances that have blown up at the biggest banks in the world.

(The) LGIP or the "Pool" is an alternate investment vehicle offered to participants that includes, but is not limited to, any municipality, political subdivision or public corporation of this state that by law is made the custodian of, or has control of, any public funds. The LGIP is commingled with the State's short-term funds. Since its inception, over 900 local governments in Oregon have participated in the pool.

It's best to know right now if we have a problem and correct it!

Local Government Investment Pool structured investment vehicles SIVs Mover Mike

In a document filed this week, the committee said the fast-track bidding procedure Levitz proposed under its Chapter 11 filing earlier this month would benefit only the retailer’s pre-petition lenders — General Electric Capital Corp., owed $42 million, and possibly YA Global Investments, or Yorkville, owed $22 million.

A Chapter 7 liquidation, the committee said, would keep certain assets clear for distribution to other creditors.

A hearing on the bidding procedures is scheduled for today.

Levitz Bankruptcy Mover Mike

Here's what it looked like at the Mt Adams webicorder

Maupin Earthquake Mover Mike

The Supreme Court said Tuesday it will decide whether the District of Columbia can ban handguns, a case that could produce the most in-depth examination of the constitutional right to "keep and bear arms" in nearly 70 years.

"I've said it one time. Get a gun and teach our folks how to use them and shoot 'em."

Bright went on to say,"There's going to be people out there who write me and say, 'God, Mayor, why are you doing this?' Listen to what I'm saying. Get your gun, learn how to shoot it, learn how to use it and use it."

ban handguns Mayor Bobby Brigh Mover Mike

Two years ago I posted What is Zero Point Energy? Based on that I post I received a nice email from Mark Goldes, Chairman & CEO of Magnetic Power Inc. He said

The company is developing technology it calls Magnetic Power ModulesTM. Based upon breakthrough discoveries in MPI’s labs, Magnetic Power Modules are being designed that operate continuously, without fuel, extracting electricity by converting abundant, renewable, Virtual Photon Flux (VPF), an energy source that exists everywhere in the universe. The process will create no pollution. The cost of electricity is estimated to be less than 1 cent/Kwh, significantly less than any competing form of power generation today or in the foreseeable future.

Goldes basically in the first part of his post talks about "peak oil", that demand is outstripping supply and that will lead to much higher prices for energy. Then he gets involved in what I call the claptrap of (gasp) global warming and all the dire predictions. I am not interested in that stuff. The first part I believe to be true and the second part is a hoax, more on that in another post. What really caught my eye and deserves your attention is the update on

A revolutionary new technology, GENIE™ (Generating Electricity by Nondestructive Interference of Energy) is being developed at Magnetic Power, Inc. (MPI).

MPI has dedicated more than 20 years of research and development into exploring breakthrough technologies. To reverse the trends discussed above, MPI envisions a technological revolution, developed commercially, that has limited impact on available planetary resources. GENIE is projected to be easy to manufacture and use, as well as inexpensive, thus capable of rapidly achieving global impact.

Based upon proprietary breakthrough discoveries in MPI's labs, GENIE generators are being designed to operate continuously, without fuel, extracting electricity by converting an energy source that exists everywhere in the universe. This process creates no pollution. The cost of electricity is estimated to be significantly less than any competing form of power generation, today or in the foreseeable future.

GENIE generators with no moving parts can be made in many of the world's electronics factories. Household units will produce power 24/7. Larger units will replace automobile engines. GENIE will eliminate any need for fuel to run a vehicle. It can also allow future cars to become income producing power plants when parked.

GENIE is a magnetic device. Nobel physicist Werner Heisenberg once stated: "We could utilize magnetism as an energy source". Hans Coler demonstrated a 6 Kilowatt, solid-state, magnetic "space-energy receiver" in Germany during 1937. It was destroyed by an Allied bomb during WWII. The invention was confirmed by British Intelligence after the War. However, at the time, there was no comprehension as to the source of the energy. Coler wrote: "These fundamental researches…have made the first real and large breach in the citadel of present scientific belief."

Advanced GENIE prototypes are currently being constructed by MPI. Lee Felsenstein, EE, evaluated an early proof-of-concept prototype. He felt it to be analogous to the first examples of the transistor, which eventually led to a Nobel Prize and the creation of Silicon Valley (and similar high-tech complexes throughout the world). Within a year, a compact, 1,000 watt, self-sustaining, GENIE generator is a goal. A plug-in hybrid car, with a pair of these GENIE prototypes replacing any need to plug-in, will herald the beginning of an end to the need for fuel. Within two or three years, the first example of a larger GENIE generator, the size of a car’s fuel tank, might readily demonstrate the potential to replace any need for a fuel-burning engine.

The generator may initially measure 5”x5”x16”. A pair of these GENIE prototypes will eliminate the plug from a plug-in hybrid car.

For many years, only visionaries like Nikola Tesla recognized this huge reservoir could be a source of usable energy. Tesla, the genius who gave birth to alternating current, said in a talk to electrical engineers in 1891: "Ere many generations pass, our machinery will be driven by a power obtainable at any point in the universe. …Throughout space there is energy.” A growing number of scientists and engineers consider it possible to tap energy from space for practical use.

Mark Goldes Magnetic Power Modules Zero Point Energy

(US Gold Reserve) X (gold's Market Price) / M3 = Fear Index

When the Fear Index is falling (that is, when the number of dollars in circulation is rising faster than the market value of the gold in the U.S. reserves, or when the number of dollars is falling more slowly than the value of the gold reserves), the implication is that people are willing to hold these extra dollars because they're optimistic about the prospects of the dollar and/or the U.S. economy. When the Fear Index is rising (which occurs when money is flowing into gold, pushing up its exchange rate and raising the market value of U.S. gold reserves), it's usually because people are worried about the dollar or the health of the U.S. banking system and are looking for alternative stores of value.

The question is where are we now? Assumming reserves are the same (261.5 Million ounces of gold) X (Gold is now about $800 an ounce) / The FED doesn't publish M3 anymore, but Ron Paul said M3 has been growing recently at 20%, let's say 10% that would put M3 at 9,735. Let's say 10,000 Billion. Using the formula the new Fear Index would equal 2.09%!

The conclusion of Turk and Rubino was this:

Assuming M3 grows at 8% a year over the next three years, and the Fear Index rises to 10%, implying that we’re worried as in the 1970s, the Fear Index yields a target gold price of $4,961 per ounce."

So far the index seems to be working just fine. Just thought you'd like to know!

Fear Index James Turk John Rubino Ron Paul

(Rachel) Ehrenfeld, author of Funding Evil: How Terrorism is Financed — and How to Stop It, published in 2003, filed a suit in U.S. district court against Saudi businessman Khalid Salim A. Bin Mahfouz, in response to a libel suit he filed against her in England.

"He single-handedly silenced the American media from writing about him and about other individual Saudis who are funding terrorism," Ehrenfeld said yesterday. "This is a deliberate thought ... and since my work is about exposing those who fund terrorism, I feel it is my duty to stop it."

Hat Tip to UP Pompeii

Rachel Ehrenfeld Khalid Salim A. Bin Mahfouz Mover Mike

Chart courtesy of TFC Commodity Charts

FRE is down at this time 30.67% and FNM is down 25%. What happened? According to the WSJ,

Freddie Mac reported a loss of $2 billion for the third quarter and said it is "seriously considering" a 50% cut in its fourth-quarter dividend. It, also, expects similar results for the current quarter, which would further erode its capital.

What has most frustrated Townsend is stories in the media disclosing operational secrets that are not abuses.

[...]

“It never fails, when we see an unauthorized disclosure, that we suffer from it,” Townsend says. “You know people often say the terrorists assume we’re tracking them. But it’s different when you have government sources coming out and either confirming it, or you have the details of it, and how we do it, published. We find that after these disclosures, the enemy shifts their tactics around based on what they learn we are doing.”

Calling the leaks “devastating,” Townsend says, “It’s not just a question of you’re putting individuals at risk. The real risk is to the lives of Americans who may suffer an attack because we couldn’t stop it, because the source was taken out. When a technical program is compromised, literally hundreds of millions of dollars are lost because a technique that’s been invested in over many years is no longer productive.”

At Politico, there's a story by Michael Calderone entitled At White House behest, NYT sat on scoop. Seems at the request of the White House, the NYT sat on a story about the U.S. securing nuclear weapons in Pakistan.

Why did they NYT sit on that story, yet go ahead and publish stories the administration asked them not to that jeopardized our national security? In late 2005 the administration asked the NYT not to publish information about "N.S.A.’s warrantless eavesdropping program." And in June 2006, the NYT disclosed the government accessed millions of banking records against the administration's wishes.

As I wrote in What is HR 1955, I am against any restrictions on freedom of speech, but I am for prosecution of treason. I think many leakers have hurt the war effort and should be dealt with harshly, before we lose the next Fran Townsend.

Fran Townsend Counterterrorism Mover Mike

What do these congress men and women have in common?

Rep. Jane Harman [D-CA]
Rep. Christopher Carney [D-PA] Del. Donna Christensen [D-VI] - Virgin Islands
Rep. Yvette Clarke [D-NY]
Rep. Charles Dent [R-PA]
Rep. Norman Dicks [D-WA]
Rep. Al Green [D-TX]
Rep. James Langevin [D-RI]
Rep. Zoe Lofgren [D-CA]
Rep. Nita Lowey [D-NY]
Rep. Daniel Lungren [R-CA]
Rep. Ed Perlmutter [D-CO]
Rep. Ted Poe [R-TX]
Rep. Dave Reichert [R-WA]
Rep. Bennie Thompson [D-MS]
(emphasis used to differentiate party affiliations.)

The bill passed the House and now sits in the Senate. The bill if passed and signed by the President accuses the internet and finds it guilty.

The promotion of violent radicalization, homegrown terrorism, and ideologically based violence exists in the United States and poses a threat to homeland security. The Internet has aided in facilitating violent radicalization, ideologically based violence, and the homegrown terrorism process in the United States by providing access to broad and constant streams of terrorist-related propaganda to United States citizens.

The bill authorizes a (Center) to determine the best method/s for carrying out the sentence.

Barbara Petersen writes the next two steps are:

The sentence is pronounced

and the final step is to carry out the sentence recommended by the Commission, and implement it using the method/s arrived at by the 'Center.'

Hat tip to UrbanSurvival

HR 1955 Homegrown Terrorism Prevention Act Mover Mike

Update:

Citigroup (C) was among the stocks casting the longest shadow over the market. The giant bank's shares dropped 5.8% after Goldman Sachs analyst William F. Tanona cut the stock to "sell" from "neutral" and estimated that Citigroup faces $15 billion in write-downs on collateralized debt obligations over the next two quarters.

Then there is GM, down $2.48 to $26.79. Like a goal-line stand, for almost a year traders beat back every attempt to breach $29. Sellers scored today and support looks like $20!

Then there's the housing industry and Standard Pacific (SPF) specifically. SPF has according to Mish Shedlock seen a huge increase in the spreads for its Credit Default Swaps. Back in March, Standard Pacific, Beazer Homes, Hovnanian all had CDS spreads at 200+ basis points. Today the spread for Standard Pacific (SPF) is an astounding 1693.8 basis points! SPF has fallen over from over 40 in July of 2005 to $2.88 today. That's 94%! Mish says "it seems likely that Standard Pacific, Beazer Homes, and Hovnanian have all reached the point of no return."

Citigroup (C) General Motores(GM) Standard Pacific (SPF)

Credit Default Swaps Beazer Homes (BZH) Hovnanian (HOV)

*Bad Day At Black Rock
John J. Macreedy doesn't know it, but when he steps off the train at the jerkwater town of Black Rock, he will soon find himself the object of fear, hatred, and even a murder plot! The altruistic Macreedy came to Black Rock to hand over a posthumous military award to a local man whose son had died gallantly in the Second World War. What Macreedy couldn't know when he stepped off of that train was that the town had a shameful secret, one that must be kept at all costs.

Oregonian:

Yumei Wang, head of Geohazard Section for the Oregon Department of Geology and Mineral Industries, said the quake took place about 6 miles under water west of the Cascadia Subduction Zone, where earth's plates are spreading apart.

"New lava is coming up under the sea and creating brand new earth," she said. Its very common for this area to have earthquakes, even 5.8 and larger, she said.

"It's not a concern in that it's not a close enough proximity to cause shaking on the coast of Oregon and it's also not going to cause a Tsunami," she said. "In order to have a Tsunami caused by an earthquake, you need to have a lot of vertical motion by the earth, which would force a lot of water up to make that wave."

The Amazon Kindle weighs 10.3 ounces and can hold up to 200 books.

What's in the library, aka Kindle Book Store? There are already plenty of books, 90,000 in all, including 101 of the current NYT bestsellers. Don't believe us? See for yourself at the Amazon Kindle Store.

I would think it would fit in well with the environment. Think of it as eco-friendly. Yes, I love my books and they accumulate in various parts of our home. I can sell them, sure, to Powell's or even sell them on eBay. But how many trees have to be cut for all the print material in our lives? And how much energy does it use to make all that paper?

For discussions on the Amazon Kindle here are some links:

Amazon.com

GIZMODO

Wall Street Journal

Yahoo Finance

Popular Mechanics

Amazon Kindle Kindle Mover Mike

Update:

Filing for bankruptcy protection three times in 10 years is a rare occurrence.

Jerry Epperson, industry analyst with Richmond, Va.-based Mann, Armistead & Epperson, said the retailer faces challenges other than raising capital.

The problem is that over many, many years, the demographics have moved and their stores haven’t,” Epperson said. ... most of its stores “were put in place between 1964 and 1978, and the population has shifted dramatically since then.”

He added that when a retailer begins to have to buy from whichever supplier will extend it credit, rather than those with the right merchandise, “it’s almost always too late.”

map 1.0 2007/11/15 14:21:59 45.124N 120.931W 15.0 13 km ( 8 mi) ESE of Maupin, OR

map 1.1 2007/11/14 18:27:09 45.127N 120.927W 15.7 13 km ( 8 mi)

Maupin Earthquake Mover Mike ESE of Maupin, OR

#4 Oklahoma 27, Texas Tech 34 - Final

#15 Clemson 17, #17 Boston College 20 - Final

How the #2s have fallen:

Final former #2 California (6-5, 3-5 Pac-10) 23, Washington (4-7, 2-6 Pac-10) 37

How about Oregon State, they have a backup quarterback who took OSU toa 52 to 17 win over Washington State.

Go Beavers!

Beavers 31 to 3 with 4 minutes to go in first half against Washington State.

Beavers on WSU 36.

1st down, incomplete pass.

2nd down and 10, gain of 13!

1st down, hands to Bernard, tackled for loss of 5

2nd down and 15, pass incomplete

3rd down and 15, incomplete.

4th down, 45 yard field goal, penalty makes it a 50 yard field goal, no good, wide left! OSU 31, WSU 3.

WSU 2nd down long eight, pass gain of eight, 1st down

1st and 10, intercepted, 5th take away.

Beavers 1st down, Severson tackled for loss

2nd down and 12, Severson gain of 10, 3rd and 2, stopped short.

4th down, Punt - Everson Bernard John Deere-ed off field, 48 seconds left to go, cold tightened up his leg. 1st down pass gain of 6

2nd down and 5, pass, 25 seconds, 1st down on Beavers 24, incomplete, holding against WSU

Replay 1st down, 19 seconds on Beavers 34, incomplete

2nd and 20, 14 seconds, Brink throws ball away, intentional grounding

3rd down and 27, eight seconds, intercepted, take away for sixth time. It's Half Time!

It is hard to blog as the game goes on.

Time for Thanksgiving with Dad!

Today, we first had Lauren Villagran pen Gold Deemed an Endangered Present in '07 followed by the Star Bulletin in Hawaii with this staff report entitled Rising gold prices may slow jewelers’ sales. Let me give you two examples why you should do what you want for your loved one and chuck these kind of stories in the trash. Back in 1984, I purchased a 1982 Panda,

a one-ounce gold coin