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From:
Sent: Friday, June 27, 2008 1:35 AM
Subject: UPDATE, Thursday 26th June: BUSH, CHENEY, BROWN COMPROMISED OVER SETTLEMENTS
<http://axisoflogic.com/artman/publish/article_27073.shtml>
http://axisoflogic.com/artman/publish/article_27073.shtml
The Great Scam
By Arthur Shaw. Exclusive to Axis of Logic Jun 12, 2008,
Speculators at petroleum exchanges in New York City, London, and Singapore relentlessly
drive up the price of a barrel of oil to ever higher levels. These speculators are
nothing but underhanded imperialist thieves manipulating "demand" for oil within the
context of the demand and supply fundamentals.
Speculators play the chief role behind high oil prices. But there are other factors,
such the value of the dollar and geopolitical tensions resulting from imperialist
aggressions. The principal aggression is in Iraq where the US aggression has cost
2,000,000 Iraqi lives and where the imperialists steal 2.3 million barrels of oil
everyday. The threats of aggression (mainly against Iran and Venezuela) also contribute
significantly to the problem. To some extent, the speculators use these "other factors"
as a cover or a pretext for their stealing at the petroleum exchanges.
When we talk about the real demand for oil, we're talking about the numbers of barrels
of oil the world economy needs every day in order to run.
That number is more or less about 87 million barrels per day. So, 87 million barrels per
day, more or less, is what the world, at the moment, really "demands" on a daily basis.
87 million barrels a day is more or less what the world produces or supplies because
that's what the world really asks for.
Enter the imperialist thieves ... mostly investment banks, hedge funds, oil companies,
other institutional investors, and some big individual players ... operating through
floor traders at the three major petroleum exchanges (New York Mercantile Exchange,
London Petroleum Exchange (owned by US imperialists) and Singapore Stock Exchange which
is much smaller than the other two.
These imperialist thieves submit orders for oil to these exchanges. These orders are
called, among other things, "futures" and they represent at least 15 times greater
volume than what the world really "demands" or wants; thus, artificially creating a
staggering but bogus imbalance between supply and demand for oil.
This multiple of about 15 is not real demand, rather it is a phony "paper" demand,
creating an illusory imbalance between supply and demand, pumping up the price of oil.
15 X 87 million bpd = 1,300,000,000 bpd
So, on "paper," the three petroleum markets are "demanding" 1.3 billion barrels everyday
when the world only needs or demands 87 million barrels a day - and the price of a
barrel soars.
If the world could or would produce 1.3 billion barrels a day, the world would drown in
oil. There would be no place to put it.
This oil scam demonstrates the irrationality of the so-called "free" market, but the
imperialist thieves make a killing everyday in this "free" market for oil.
Goldman Sachs is perhaps the biggest and most aggressive imperialist thief among the
investment banks. Exxon-Mobil, of course, is the biggest among the oil companies.
Thousands of hedge funds [often fronts for banks and oil companies] managing capital for
the wealthy are running amuck in the oil market.
Driving some of the imperialists to steal, especially the investment banks, is something
more than their natural and compulsive avarice. Many of them have of late, suffered
catastrophic losses with mortgage-back securities like the so-called "subprimes". Others
have fallen through the floor with unbelievable losses in currency trading. So, they
look to oil swindles to recoup some or all of their unbearable losses.
Once again, the scam with oil futures and other related financial instruments is
sometimes called "speculation" in the oil market.
To get away with the scam, the imperialist thieves tell their cappie [that is,
"capitalist"] press or media to spread lies, blaming OPEC for the imbalance between
supply and demand for oil. Their friends in the cappie media blame the prices on
production cutbacks. They also tell an assortment of lies about China and India using up
too much oil or other fabrications the media cooks up itself.
When the truth about the gigantic scam periodically breaks through the pile of lies
emitted by the cappie press, the imperialist thieves point their fingers at the floor
traders who are hustling futures contracts at the petroleum exchanges in New York,
London and Singapore. These floor traders are no more than highly compensated foot
soldiers and patsies of the imperialist thieves.
<http://www.presstv.ir/detail.aspx?id=61584§ionid=3510213>
http://www.presstv.ir/detail.aspx?id=61584§ionid=3510213
USD 140 oil passes another milestone
Fri, 27 Jun 2008 01:25:58
Oil has risen above USD 140 a barrel after OPEC's president said prices could rise top
USD 150 a barrel this year and Libya may cut oil production.
Light, sweet crude for August delivery rose as high as $140.39 in afternoon trading on
the New York Mercantile Exchange before retreating slightly to trade up USD 5.53 at USD
140.08. Final prices weren't available, but crude appeared headed to a record
settlement..
Chakib Khelil, president of the Organization of the Petroleum Exporting Countries, said
he believes oil prices could rise to between USD 150 and USD 170 a barrel this summer
before declining later in the year. He noted however that he doubts prices will reach
USD 200 a barrel.
Khelil joins a long list of forecasters who have made bold oil price predictions this
year. Each new forecast - such as Goldman Sachs' recent prediction that prices could
rise as high as $200 - caused a jump in prices as speculative buyers are being drawn
into the market in droves.
Meanwhile, the head of Libya's national oil company said the country might cut crude
production because the oil market is well supplied, according to news reports.
"Shokri Ghanem, the nation's top oil official, declined to say when a decision would be
made on whether to lower production, or give any indication of the size of the cut under
consideration," said Addison Armstrong, director of market research at Tradition Energy
in Stamford, Conn., in a research note.
Oil's surge above USD 140 a barrel was the first for what's known as a front-month crude
contract, or the contract with the earliest expiration date. However, it was not the
August contract's first foray above USD 140 - August crude futures rose as high as USD
140.42 a barrel while July futures were still traded as the front-month crude contract.
Many other later contracts have also traded above USD 140.
The previous trading record for a front-month contract was USD 139.89, set by the July
contract on June 16.
Oil's record surge came late in the day on no new news, analysts said, and suggesting
late-session position squaring by investors.
SG/HAR
<http://www.worldreports.org/news/145_bush_cheney_brown_compromised_ov...>
http://www.worldreports.org/news/145_bush_cheney_brown_compromised_ov...
BUSH, CHENEY, BROWN COMPROMISED OVER SETTLEMENTS
UPDATE, Thursday 26th June: On the secondary matter of Stuart Wheeler's High Court
request for a Judicial Review of the Brown Government's notorious and wholly unseemly
haste in ratifying the pernicious and collapsing Lisbon Collective Treaty, the British
press this morning reports that two Judges rejected Stuart's claim that the Government
should keep its Manifesto promise to hold a referendum on the latest EU collectivisation
document. They opined that they found nothing in the case to cast doubt on the
lawfulness of ratifying the collective treaty. Hence the High Court has now confirmed
that a UK political party may say anything it likes in its election manifestos: it can
promise to install gold faucets in every bathroom in the Kingdom, for instance, without
having the slightest intention of fulfilling any such promises. This decision is on a
par with what everyone is indoctrinated to expect nowadays from every branch of
government and the British Establishment.
However the decision is not material to the points made below in the European Collective
section, given that the Lisbon Treaty is dead in the water for other, more crucial,
reasons cited herein.
Separately, the 'take' this morning on the report below, seems frenetic. The 'lever' was
pulled at about 3.00pm-4.00pm EDT on Wednesday 25th June 2008, for your information. As
of about 11.00am EDT on Thursday 26th June, about 80% of the releases had been
concluded. There are problems with about 20% or less, involving possible punitive action
about which the Editor is not sufficiently informed and in any case is constrained by
'real time' considerations. The bulk of the WHOLESALE distributions having been
initiated, as a consequence of the sequence carefully described in our latest report,
RETAIL distributions will follow and are scheduled to follow. The sequence of events
that has led to this outcome is, as noted, described in this report.
On this occasion, it was judged appropriate to venture onto 'real time' territory,
because certain other events not yet clarified (or conveyable to this Brit because of US
domestic considerations) had already launched the juggernaut onto the next stage, so
that what appears here to be 'real time' information has already been followed by
further 'real time' information yet to be revealed.
THE ORIGINAL REPORT STARTS HERE...
The following report was largely compiled on Sunday 22nd June 2008, but has been held
back in order not to conflict with 'real time' considerations, and also to take account
of the Editor's visit to the European Parliament in Brussels:
continued at:
http://www.worldreports.org/news/145_bush_cheney_brown_compromised_ov...
<http://www.papercut.biz/emailStripper.htm>
<http://www.telegraph.co.uk/news/uknews/2193638/Nuclear-missiles-could...
opcorn%27.html>
http://www.telegraph.co.uk/news/uknews/2193638/Nuclear-missiles-could...
pcorn%27.html
Nuclear missiles could blow up 'like popcorn'
By Duncan Gardham, Security Correspondent 26/06/2008
A design flaw in Britain's nuclear arsenal means that warheads could set off a chain
reaction "like popcorn" if they were accidentally dropped, according to Ministry of
Defence documents.
More than 1,700 warheads are affected by the problem which would cause them to explode
one after another, an effect known as "popcorning."
A typical Trident nuclear missile contains three to six warheads, and some submarines
carry up to 24 missiles, meaning the potential for disaster could be huge.
Defence companies try to prevent accidental explosions of warheads by designing them to
be "singlepoint safe" which means that a sudden knock at a single point should not
detonate the plutonium core.
The typical scenario would see the weapon being dropped from a crane while being loaded
on or off a submarine.
However, a nuclear-weapons safety manual drawn up by the MoD's internal nuclear-weapons
regulator, and declassified last month, argues that this standard single-point design
might not be enough to prevent "popcorning".
The manual, seen by the New Scientist, says that warheads should be capable of resisting
multiple simultaneous impacts which "would contribute to the prevention of popcorning
and should be a design objective".
It also recommends replacing the highly sensitive explosive that surrounds the warheads'
plutonium cores because a single knock may not detonate the core, but could set off the
explosive.
Less-sensitive explosives are available but they are heavier and bulkier than those
currently in use so the warheads would have to be redesigned.
According to the manual, in the worst-case scenario people a kilometre away would
receive a radiation dose of 100 sieverts - 16 times the lethal dose - although the
seriousness of the accident would depend on the pattern of warhead explosions.
The US government's National Nuclear Security Administration said that redesigning
warheads to resist multiple impacts and switching to less-sensitive explosives would
"enhance" safety but stressed that current warheads "were, are and continue to be
assessed as safe".
A spokesman for the MoD said popcorning was only "a theoretical possibility" and in fact
it was "a scenario that is not credible".
Any risk is mitigated by the way in which missiles are handled, transported and stored,
she added.
Nuclear-weapons experts say an accident could still happen.
Philip Coyle from the Center for Defense Information, an independent think tank in
Washington, said there was always a risk that safety procedures are ignored and pointed
to the accidental loading of nuclear weapons onto a flight last year from North Dakota
to Louisiana.
Stefan Michalowski, a senior scientist at the OECD in Paris, who researched warhead
safety in the 1990s, is concerned about the risks of an extreme event such as a
firefight with direct gunshots.
"The explosion of a boatload of missiles in a port would be an unimaginable
catastrophe," he said. "It's a very, very scary thought."
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