“In 1992, Soros earned the epithet “the man who broke the Bank of England” by demanding the Bank to raise its interest rates or to float the currency (so that he could make more money). The Bank did neither. He retaliated by selling “short” more than $10 billion worth of pound sterling, forcing the Bank of England to depreciate the pound: Soros amassed an estimated US$ 1.1 billion in the process. Continue reading
Category Archives: Globalization
The Machinery of Habit
A piece I wrote four years ago, The Burgh: Downsizing,” examines the nature of change and habit in relation to urban economies transformed by globalization and war.
“The boys come in and the beer flows. Ricardo tells us about training. Four-mile runs, 200 push-ups every morning, wall-climbing. “They break you, man,” he shakes his head. “They make you tough.
“I said I hoped so, considering where he was going. But Melanie, who studies the theology of the medieval anchoress Juliana of Norwich and sells papers on a corner in Oakland for the Socialist Worker, is more worried about his getting into what she calls killing mode. I ask her if a mode is the same as a habit. It takes time after all to form a habit. A mode on the other hand sounds like a gearshift on an Audi. And if you can shift into a gear, you can shift out. Maybe it’s really a question of what sort of habits. Learning, retraining, moving need effort. They don’t come easily. But war is a machinery that moves on its own and blood-lust, like a winter flu, might be easy to pick up and impossible to get rid of.
War and demolition come too easily to human nature. And take away too much. Anything worth pursuing, on the other hand, needs to be stalked through the years with the patience and vigilance of a hunter, cultivated through seasons of scarcity and remembered in times of forgetting. In our sophistication we laugh at those who buy dear and hold dearer. Who stay when they should have left. Bag holders. Fools. Who step into the river and expect the waters to stay the same. The immobilized in our mobile society. What is the value of an abandoned church, an obsolete mill, an aging worker? Flux, we shrug, is the only certainty. Change is the first law of nature.
“People talk about joining but they don’t,” says Ricardo, “I’m the only one who did.” He sounds proud.
“I ask him if he thinks good health insurance and tuition money are worth risking his life for. He laughs.
“Look — I ain’t gonna die. Most of the guys who teach me, they’ve been there. They got through. More chances I’d get shot in a ghetto. So some guy’s lost an arm…or a leg. So what? All this new technology now, reconstruction…they can make you another leg; it’s really no big deal.”At 26, you can think of that as a good trade. An amputation of the body or the mind is all it takes to keep up with change. Like those translucent lizards which shed their tails seasonally as they wait immobile and vigilant for flies on dusty window sills, we might grow new limbs just as good. New memories to replace old ones. Here in the hills, at the confluence of three rivers, we have learned not to resist the laws of nature.
“But perhaps we don’t live by nature alone. Perhaps, as Juliana of Norwich said, we also need mercy and grace.”
“The need to change and the machinery of habit that makes it difficult – a theme I find myself returning to , over and over, especially when I’m confronted with the depressing spectacle of people going back to the same propaganda, the same bogus assertions that caused this global catastrophe in the first place.
Going back, like dogs to vomit.
I’m sorry if that sounds ugly, but what’s happening now in DC is ugly….and very very dangerous.
Delingpole On Wiki Manipulation
James Delingpole on Wiki manipulation…
“If you want to know the truth about Climategate, definitely don’t use Wikipedia. “Climatic Research Unit e-mail controversy”, is its preferred, mealy-mouthed euphemism to describe the greatest scientific scandal of the modern age. Not that you’d ever guess it was a scandal from the accompanying article. It reads more like a damage-limitation press release put out by concerned friends and sympathisers of the lying, cheating, data-rigging scientists
Which funnily enough, is pretty much what it is. Even Wikipedia’s own moderators acknowledge that the entry has been hijacked, as this commentary by an “uninvolved editor” makes clear.”
Which is just what we said a while back
You get the scoop here…
“Scientific” Academies Need A Taste Of RICO Too
Alan Caruba , a conservative writer and reviewer:
“Consider a letter dated October 21, 2009 and signed by the presidents of the American Association for the Advancement of Science, the American Geophysical Union, the American Meteorological Society, the American Society of Plant Biologists, the Association of Ecosystem Research Center, the American Chemical Society, the American Institute of Biological Sciences, the American Society of Agronomy, the American Statistical Association,
And the Botanical Society of America, the Crop Science Society of America, the Natural Science Collections Alliance, the Society of Industrial and Applied Mathematics, the Soil Science Society of America, the Ecological Society of America, the Organization of Biological Field Stations, the Society of Systematic Biologists, and the University Corporation for Atmospheric Research.
Together, they asserted that “Observations throughout the world make it clear that climate change is occurring, and rigorous scientific research demonstrates that the greenhouse gases emitted by human activities are the primary driver.” It went on to repeat all the usual scary scenarios of rising sea levels, urban heat weaves, wildfires, and other climate-related events.
In a footnote, the letter to U.S. Senators said, “The conclusions in this paragraph reflect the scientific consensus represented by, for example, the Intergovernmental Panel on Climate Change and the U.S. Global Change Research Program.”
We now know that the “science” being cited by these two entities was, at least in the case of the IPCC, totally rigged, but the presidents of these alleged science-based organizations took it on face value despite ample scientific evidence it was false. The revelations of emails exchanged between the perpetrators of the hoax have demonstrated the deceptions…….
In light of this, who can trust these organizations? And who can trust the “science” produced by NASA and other U.S. agencies that have benefited from billions in grants directed at so-called climate, i.e. global warming research?”
IPCC Chief Pachauri Central To Cap-and-Trade Scam
From Mish Shedlock:
“The crux of the scheme is this: European steelmakers have threatened to leave the EU for India, eliminating the jobs of thousands of workers in the process, unless the EU grants the steelmakers free carbon credits worth hundreds of millions of dollars.
Eurofer, a European trade group, is at the center of the scheme. The web of the plot, however, weaves in not only several companies, but also the United Nations’ climate change chief:* Among its members, Eurofer represents two EU steelmakers, Corus Redcar and ArcelorMittal, each of which has ties to India as well as to Rajendra K. Pachauri, the Indian industrial engineer who has been chairman of the U.N. Intergovernmental Panel on Climate Change, or IPCC, since 2002.
* Eurofer appears to have coordinated a threat to the European Union Greenhouse Gas Emission Trading System that its steelmakers would move their operations from the EU to India unless the EU cap-and-trade exchange issued them – at no cost – carbon emissions permits worth hundreds of millions of dollars.
* Once the bureaucrats in Brussels acquiesced, Corus Redcar and ArcelorMittal maneuvered to cash in windfall profits from the EU carbon permits given them at no cost.
* Additionally, Corus Redcar has now announced a decision to close operations in Great Britain nonetheless and relocate its steelmaking activities to India in order to gain additional U.N. carbon credits.
Ironically, EU and U.N. officials who might have thought requiring cap-and-trade permits would operate as “protection racket” in which EU companies need to buy carbon credits to continue operations, have now found themselves on the losing end of the reverse scheme.
In the final analysis, the winners are the European Union corporations willing to play hardball with the European Union Greenhouse Gas Emission Trading System, and the losers are the EU middle class workers that are held hostage in the scheme.”
Open Letter To The Secretary-General Of UN
Wednesday, December 9th 2009, 2:07 AM EST
Co2sceptic (Site Admin)
Dear Secretary-General,
Climate change science is in a period of ‘negative discovery’ – the more we learn about this exceptionally complex and rapidly evolving field the more we realize how little we know. Truly, the science is NOT settled.
Therefore, there is no sound reason to impose expensive and restrictive public policy decisions on the peoples of the Earth without first providing convincing evidence that human activities are causing dangerous climate change beyond that resulting from natural causes. Before any precipitate action is taken, we must have solid observational data demonstrating that recent changes in climate differ substantially from changes observed in the past and are well in excess of normal variations caused by solar cycles, ocean currents, changes in the Earth’s orbital parameters and other natural phenomena.
We the undersigned, being qualified in climate-related scientific disciplines, challenge the UNFCCC and supporters of the United Nations Climate Change Conference to produce convincing OBSERVATIONAL EVIDENCE for their claims of dangerous human-caused global warming and other changes in climate. Projections of possible future scenarios from unproven computer models of climate are not acceptable substitutes for real world data obtained through unbiased and rigorous scientific investigation.
Specifically, we challenge supporters of the hypothesis of dangerous human-caused climate change to demonstrate that:
Variations in global climate in the last hundred years are significantly outside the natural range experienced in previous centuries;
Humanity’s emissions of carbon dioxide and other ‘greenhouse gases’ (GHG) are having a dangerous impact on global climate;
Computer-based models can meaningfully replicate the impact of all of the natural factors that may significantly influence climate…”
For the rest of the post and the complete list of signatories, see Climate realists.
Danish Climate-Gate
From the Washington Examiner:
“Police and authorities in several European countries are investigating scams worth billions of kroner, which all originate in the Danish quota register. The CO2 quotas are traded in other EU countries.
“Denmark’s quota register, which the Energy Agency within the Climate and Energy Ministry administers, is the largest in the world in terms of personal quota registrations. It is much easier to register here than in other countries, where it can take up to three months to be approved.
“Ekstra Bladet reporters have found examples of people using false addresses and companies that are in liquidation, which haven’t been removed from the register.
“One of the cases, which stems from the Danish register, involves fraud of more than 8 billion kroner. This case, in which nine people have been arrested, is being investigated in England.
“The market for CO2 trade has exploded in recent years and is worth an estimated 675 billion kroner globally.”
Climate-Gate: Summary
I found this excellent summary posted by a contributor to the New York Times blog of the evidence of manipulation of data in the outed emails:
• Phil Jones writes to University of Hull to try to stop sceptic Sonia Boehmer Christiansen using her Hull affiliation. Graham F Haughton of Hull University says its easier to push greenery there now SB-C has retired.(1256765544)
• Michael Mann discusses how to destroy a journal that has published sceptic papers.(1047388489)
• Tim Osborn discusses how data are truncated to stop an apparent cooling trend showing up in the results (0939154709).
Analysis of impact here. Wow!
• Phil Jones describes the death of sceptic, John Daly, as “cheering news“.
• Phil Jones encourages colleagues to delete information subject to FoI request.(1212063122)
• Phil Jones says he has use Mann’s “Nature trick of adding in the real temps to each series “…to hide the decline”. Real Climate says “hiding” was an unfortunate turn of phrase.(0942777075)
• Letter to The Times from climate scientists was drafted with the help of Greenpeace.(0872202064)
• Mann thinks he will contact BBC’s Richard Black to find out why another BBC journalist was allowed to publish a vaguely sceptical article.(1255352257)
• Kevin Trenberth says they can’t account for the lack of recent warming and that it is a travesty that they can’t.(1255352257)
• Tom Wigley says that Lindzen and Choi’s paper is crap.(1257532857)
• Tom Wigley says that von Storch is partly to blame for sceptic papers getting published at Climate Research. Says he encourages the publication of crap science. Says they should tell publisher that the journal is being used for misinformation. Says that whether this is true or not doesn’t matter. Says they need to get editorial board to resign. Says they need to get rid of von Storch too. (1051190249)
• Ben Santer says (presumably jokingly!) he’s “tempted, very tempted, to beat the crap” out of sceptic Pat Michaels. (1255100876)
• Mann tells Jones that it would be nice to ‘”contain” the putative Medieval Warm Period’. (1054736277)
• Tom Wigley tells Jones that the land warming since 1980 has been twice the ocean warming and that this might be used by sceptics as evidence for urban heat islands.(1257546975)
• Tom Wigley say that Keith Briffa has got himself into a mess over the Yamal chronology (although also says it’s insignificant. Wonders how Briffa explains McIntyre’s sensitivity test on Yamal and how he explains the use of a less-well replicated chronology over a better one. Wonders if he can. Says data withholding issue is hot potato, since many “good” scientists condemn it.(1254756944)
• Briffa is funding Russian dendro Shiyatov, who asks him to send money to personal bank account so as to avoid tax, thereby retaining money for research.(0826209667)
• Kevin Trenberth says climatologists are nowhere near knowing where the energy goes or what the effect of clouds is. Says nowhere balancing the energy budget. Geoengineering is not possible.(1255523796)
• Mann discusses tactics for screening and delaying postings at Real Climate.(1139521913)
• Tom Wigley discusses how to deal with the advent of FoI law in UK. Jones says use IPR argument to hold onto code. Says data is covered by agreements with outsiders and that CRU will be “hiding behind them”.(1106338806)
• Overpeck has no recollection of saying that he wanted to “get rid of the Medieval Warm Period”. Thinks he may have been quoted out of context.(1206628118)
• Mann launches RealClimate to the scientific community.(1102687002)
• Santer complaining about FoI requests from McIntyre. Says he expects support of Lawrence Livermore Lab management. Jones says that once support staff at CRU realised the kind of people the scientists were dealing with they became very supportive. Says the VC [vice chancellor] knows what is going on (in one case).(1228330629)
• Rob Wilson concerned about upsetting Mann in a manuscript. Says he needs to word things diplomatically.(1140554230)
• Briffa says he is sick to death of Mann claiming his reconstruction is tropical because it has a few poorly temp sensitive tropical proxies. Says he should regress these against something else like the “increasing trend of self-opinionated verbiage” he produces. Ed Cook agrees with problems.(1024334440)
• Overpeck tells Team to write emails as if they would be made public. Discussion of what to do with McIntyre finding an error in Kaufman paper. Kaufman’s admits error and wants to correct. Appears interested in Climate Audit findings.(1252164302)
• Jones calls Pielke Snr a prat.(1233249393)
• Santer says he will no longer publish in Royal Met Soc journals if they enforce intermediate data being made available. Jones has complained to head of Royal Met Soc about new editor of Weather [why?data?] and has threatened to resign from RMS.(1237496573)
Finished in next post …
November 21st, 2009
11:29 am
Continued from previous:
• Reaction to McIntyre’s 2005 paper in GRL. Mann has challenged GRL editor-in-chief over the publication. Mann is concerned about the connections of the paper’s editor James Saiers with U Virginia [does he mean Pat Michaels?]. Tom Wigley says that if Saiers is a sceptic they should go through official GRL channels to get him ousted. (1106322460)
[Note to readers – Saiers was subsequently ousted]
• Later on Mann refers to the leak at GRL being plugged.(1132094873)
• Jones says he’s found a way around releasing AR4 review comments to David Holland.(1210367056)
• Wigley says Keenan’s fraud accusation against Wang is correct. (1188557698)
• Jones calls for Wahl and Ammann to try to change the received date on their alleged refutation of McIntyre [presumably so it can get into AR4](1189722851)
• Mann tells Jones that he is on board and that they are working towards a common goal.(0926010576)
• Mann sends calibration residuals for MBH99 to Osborn. Says they are pretty red, and that they shouldn’t be passed on to others, this being the kind of dirty laundry they don’t want in the hands of those who might distort it.(1059664704)
• Prior to AR3 Briffa talks of pressure to produce a tidy picture of “apparent unprecedented warming in a thousand years or more in the proxy data”. [This appears to be the politics leading the science] Briffa says it was just as warm a thousand years ago.(0938018124)
• Jones says that UK climate organisations are coordinating themselves to resist FoI. They got advice from the Information Commissioner [!](1219239172)
• Mann tells Revkin that McIntyre is not to be trusted.(1254259645)
• Revkin quotes von Storch as saying it is time to toss the Hockey Stick . This back in 2004.(1096382684)
• Funkhouser says he’s pulled every trick up his sleeve to milk his Kyrgistan series. Doesn’t think it’s productive to juggle the chronology statistics any more than he has.(0843161829)
• Wigley discusses fixing an issue with sea surface temperatures in the context of making the results look both warmer but still plausible. (1254108338)
• Jones says he and Kevin will keep some papers out of the next IPCC report.(1089318616)
• Tom Wigley tells Mann that a figure Schmidt put together to refute Monckton is deceptive and that the match it shows of instrumental to model predictions is a fluke. Says there have been a number of dishonest presentations of model output by authors and IPCC.(1255553034)
• Grant Foster putting together a critical comment on a sceptic paper. Asks for help for names of possible reviewers. Jones replies with a list of people, telling Foster they know what to say about the paper and the comment without any prompting.(1249503274)
• David Parker discussing the possibility of changing the reference period for global temperature index. Thinks this shouldn’t be done because it confuses people and because it will make things look less warm.(1105019698)
• Briffa discusses an sceptic article review with Ed Cook. Says that confidentially he needs to put together a case to reject it (1054756929)
• Ben Santer, referring to McIntyre says he hopes Mr “I’m not entirely there in the head” will not be at the AGU.(1233249393)
• Jones tells Mann that he is sending station data. Says that if McIntyre requests it under FoI he will delete it rather than hand it over. Says he will hide behind data protection laws. Says Rutherford screwed up big time by creating an FTP directory for Osborn. Says Wigley worried he will have to release his model code. Also discuss AR4 draft. Mann says paleoclimate chapter will be contentious but that the author team has the right personalities to deal with sceptics.(1107454306
Gold Sinks Further, Dollar Surges..
We will need to see a few more days of supporting action, but as of now, it looks like gold might be beginning the long-awaited correction.
How deep that will go is anyone´s guess, though the recent central bank buying is supposed to lay a floor for it above $1000. Now, normally I wouldn´t bet the house on that, but I´ve come to see that pronouncements from insider analysts (at GS) are no longer just market analysis to be weighed. They are announcements about the course of action the banking cartel is going to be supporting.
The trigger for this? I think it´s that upbeat jobs number, which is probably taking some speculative money out of gold …especially as gold is technically very overbought and institutional buyers want to lock in profits before the year end.
Dubai is more important than most commentators think, even Marc Faber. They say the numbers involved are too small.
But, as I blogged earlier, they´re not seeing the contagion possible.
Here´s what they´re discounting:
1 We don´t know what the numbers from Dubai really are. We can´t be absolutely sure. They keep changing them. $125 billion (the highest figure I´v heard) may not be enormous in a global context, but we don´t know how its tied up with investments and where. A firesale of Dubai Worlds real estate could have unsettling effects all over the world.
2. Dubai has an impact on the property market, not just in Dubai, but in London and New York where Dubai Worlds has holdings, and also in India, where real estate and employment could take a hit.
3. Banks have leveraged exposure through derivatives, beyond what they are admitting in public.
4. These are banks that are already broke, for all purposes.
5. When the banks involved are not themselves broke, they are backed by governments that are broke, or near-broke.
6. The government with likely the most exposure is Britain. Britain is on the verge of sovereign default.
7. This happens just as the second down-leg in real estate is unfolding, and along with it the just-as- leveraged commercial real estate market (see the recent zero hedge post on an ongoing CRE failure in Chicago), where there´s little pressure for the Feds to step in.
8. This happens after a 10-month run up in the stock market in what is essentially a bear rally, according to many experts.
9. This happens when the government has escalated an unpopular war in Afghanistan, calling for more troop commitments and more money
10. This happens after massive further government commitments in health care and other social spending.
Would the dollar move up just on the back of an employment number that was widely acknowledged to be misleading? I don´t know.
Do I know if gold will sink below $1000? No.
But CB (central banks of India etc.) buying is said to have set the floor. Me, I think that was a bit of help given by the RBI (CB of India, Sri Lanka, etc.) to the IMF, seat of power of the globalists. Even the IMF admitted it got lucky.
Will that bit of market manipulation to the upside be enough to stave off the deflationary effect of develeraging asset derivatives?
I don´t know, but I suspect it won´t.
I’m anticipating a rush into the dollar like we had in 2008…maybe not as strongly…
maybe gold will sop up some of the rush this time. I think that´s what the CB´s are hoping will happen.
But again, one can´t be sure, for the simple reason no one knows how much more bad debt there is and where it is.
Climate-Gate: Media Ignored Scientific Back-Trackers
This story back in September ought to have made a lot of headlines, but didn´t. Perhaps it will now:
“When a leading proponent for one point of view suddenly starts batting for the other side, it’s usually newsworthy.
So why was a speech last week by Prof. Mojib Latif of Germany’s Leibniz Institute not given more prominence?
Latif is one of the leading climate modellers in the world. He is the recipient of several international climate-study prizes and a lead author for the United Nations’ Intergovernmental Panel on Climate Change (IPCC). He has contributed significantly to the IPCC’s last two five-year reports that have stated unequivocally that man-made greenhouse emissions are causing the planet to warm dangerously.
Yet last week in Geneva, at the UN’s World Climate Conference — an annual gathering of the so-called “scientific consensus” on man-made climate change — Latif conceded the Earth has not warmed for nearly a decade and that we are likely entering “one or even two decades during which temperatures cool.”
The global warming theory has been based all along on the idea that the Atlantic and Pacific Oceans would absorb much of the greenhouse warming caused by a rise in man-made carbon dioxide, then they would let off that heat and warm the atmosphere and the land.
But as Latif pointed out, the Atlantic, and particularly the North Atlantic, has been cooling instead. And it looks set to continue a cooling phase for 10 to 20 more years.”
My Comment
Now why would Latif come out with this suddenly? Maybe he had a peek at some of that data the CRU scientists were trying to hide and decided to dissociate himself in advance from a scandal threatening to blow up…