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Bloomberg News, a unit of New York-based Bloomberg LP, on May 21 asked the Fed to provide data on collateral posted from April 4 to May 20. The central bank said on June 19 that it needed until July 3 to search documents and determine whether it would make them public. Bloomberg didn’t receive a formal response that would let it file an appeal within the legal time limit.
On Oct. 25, Bloomberg filed another request, expanding the range of when the collateral was posted. It filed suit Nov. 7.
Warns that more debt based monetary policy will lead to hyperinflation Steve Watson Infowars.net Tuesday, Feb 10th, 2009 Renowned investor and respected financial commentator Jim Rogers has slammed the latest economic rescue package, declaring that it will not work and will most probably make the situation worse than it already is. Rogers, the creator of the Rogers International Commodities Index (RICI), told CNBC that the latest so called “stimulus” is more of the same debt based policy that has led the world to the brink of total financial meltdown. Rogers also pointed out that the offered solution is coming from the very same people who allowed the financial crisis to arise in the first instance. “It is mind-boggling to me,” Rogers told “Squawk Box Europe.” “If I were on your show 15 weeks in a row and was wrong, you’d probably never invite me back. These guys have been wrong year after year after year consistently and here they are making the same mistakes again. This is not going to solve the problem, it’s going to make it worse.” Rogers also spoke of the artificial rally of the US Dollar and warned that hyperinflation is certain to follow. “We’ve had a period of forced liquidation of everything, even the US Dollar is going up,” Rogers said. “It’s been much stronger than expected because there is this massive forced liquidation, there are huge short positions in the Dollar, everybody is having to cover.” “But we’ve never had in world history a period when every single central bank and every government in the world is printing money as fast as they can.” Rogers said. “So I know we’re going to have serious inflation down the road, when it happens I don’t know, so I periodically buy gold.” Rogers also predicted that the head long plunge into more debt and inflationary monetary policy would lead to a bubble in US government bonds.
Concern increased last week with the arrival of Bush's daughter, Jenna, and a source from the Physical Planning Department saying that most of the Chaco region belongs to private companies. Luis D'Elia, Argentina´s undersecretary for Land for Social Habitat, says the matter raises regional concern because it threatens local natural resources. He termed it "surprising" that the Bush family is trying to settle a few short miles from the US Mariscal Estigarribia Military Base.
Feb. 11 (Bloomberg) -- The following is a list of companies whose shares may have unusual price changes in markets today. Stock symbols are in parentheses and prices are from the last market close.
Friday, October 10, 2008
The World Bank Group's computer network — one of the largest repositories of sensitive data about the economies of every nation — has been raided repeatedly by outsiders for more than a year,
Sources inside the bank confirm that servers in the institution's highly-restricted treasury unit were deeply penetrated with spy software last April. Invaders also had full access to the rest of the bank's network for nearly a month in June and July.
In total, at least six major intrusions — two of them using the same group of IP addresses originating from China — have been detected at the World Bank since the summer of 2007, with the most recent breach occurring just last month [September, 2008].
In a frantic midnight e-mail to colleagues, the bank's senior technology manager referred to the situation as an "unprecedented crisis." In fact, it may be the worst security breach ever at a global financial institution. And it has left bank officials scrambling to try to understand the nature of the year-long cyber-assault, while also trying to keep the news from leaking to the public.
Friday, November 14, 2008
…The November 7 lockdown came only days after the World Bank moved more than 100 of its employees into an empty floor of one of the IMF's two buildings on Washington's Nineteenth Street, N.W., just across from the World Bank headquarters.
Sunday, November 02, 2008
Since 2003, according to FOX sources, the World Bank has paid Satyam [an Indian company] hundreds of millions of dollars to write and maintain all the software used by the bank throughout its global information network, including its back-office operations — overseeing data that ranges from accounting and personnel records to trust funds administered for many of the world's richest nations.
But all that came to an ungainly halt last April when the Bank's president, Zoellick, according to bank insiders, told his top deputies: "I want them off the premises now." At that time, the insiders say, bank forensic investigators had concluded that one or more Satyam employees had been involved in installing sophisticated spyware on workstations inside the bank's highly-sensitive treasury unit in Washington — software that was involved in at least one of the data base security breaches.
Zoellick's order was never carried out, because his deputies convinced him that the ruling would cause internal havoc. Bank staffers have told FOX that instead, hundreds of Satyam employees remained involved in the daily operations of the bank's information systems until September 30, 2008. The reason: The bank needed to accomplish a "knowledge transfer" with a bank staff that, by all accounts, had failed to maintain the know-how to understand its own computer software without the vendor's help.
According to Satyam, the contract was not terminated in any way. But the bank spokesman revealed that the contract was due to expire "at the end of the year." Asked whether Satyam's contract was terminated, he said only: "As of September 30, Satyam had completed all of its work."
In terms of the bank's software programs, "at bottom, we don't know what they [Satyam] know," says a senior IT staffer at the institution. "We quickly lost control of 'the code,' which is the DNA of a modern enterprise. Code is everything — your payroll, your financing, your trading operations, your network security, how you buy and sell things, how you report to your shareholders."
… The attacks that began on World Bank data bases in the summer of 2007 and according to bank insiders reached the institution's ultra-sensitive treasury data base in April 2008.
The World Bank treasury manages $70 billion in assets for 25 clients, including the central banks of some countries. In addition, it runs an active bond-trading desk and does everything from currency-trading to capital markets financings.
Knowing what's inside the World Bank's databases could be worth billions to speculators, hedge funds or governments anxious to increase their leverage or even destabilize other national economies in the current financial turbulence. In short, confidence in the bank's information security system is nearly identical with confidence in the bank itself.
What’s the Chinese connection to all this?
One thing that is clearly unknown is just who or what company (or nation) is behind the breaches — and why. Some of the penetrations shared the same "cluster" of IP addresses in the offshore Chinese territory of Macao. While those addresses can be "spoofed" (or disguised), some bank officials, according to FOX sources, at least initially concluded that China's government was involved.
Informed of the breaches by FOX, one veteran China hand, Heritage Foundation fellow John Tkacik, a former chief of China intelligence at the State Department, says he was "initially skeptical" that China's government was behind the breaches, but that — "after looking into it, I've changed my mind." Tkacik declines to reveal what he learned that convinced him otherwise.
Tkacik says, "Professional intelligence experts here [in Washington] are aghast at the broad-spectrum and the galactic magnitudes of financial, equipment and manpower resources that the Chinese intelligence services are putting into an all-pervasive global cyber espionage campaign."
Ok… but, why would China and India WANT to do that?
I'll have to continue on the next post...
[edit on 11/2/2009 by Iamonlyhuman]
"The G7 is made up of debtor countries, countries like the United States, Britain, France, Italy - these are all borrowers.
"There's no surplus countries in that. If you look at the structure of the IMF the Chinese get 3.7 per cent of the vote, the Indians get 1.9, the Europeans and the Americans get 51 per cent."
"The top 200 financial institutions in the world have suffered an average loss of value of 74 percent. What we need is a completely new global political and economic settlement. Get rid of the old G7, get rid of the old IMF, we’ve got to bring the surplus countries into the political framework (give them majority vote). There’s just no way the Chinese Communist Party is going to hand over control of their currency and their political fortunes to a Washington based U.S. Treasury run institution. So this is going to be a complete resettlement. We’re not going to get out of this. The United States budget cannot reflect the world. We’ve always been in a situation where the United States budget could reflect the world. This is not going to happen now. See, the budget this year was gonna be $850 billion, now President Obama’s talking about another trillion, so $1.8 trillion. They’re GDP is $13 trillion so their running a budget deficit this year of 15% of GDP and they’ll do this for three or four years 16% of American GDP. Who’s going to buy the bonds? Every serious American policy maker knows that they’re not going to be returning value, in the end they’re going to inflate their way out… the debt will be so overwhelming that it cannot be repaid.”
UPDATED: January-18-2009 NO. 4 JAN. 22, 2009
As any serious student of India's diplomatic and national strategy will testify, Western notions like alliance, encirclement and counterbalance are not part of the vocabulary of Indian strategic thinking, which is fiercely independent. If at all, we tend to think more like the Chinese adage "Near neighbors count more than distant relatives."
The author is the Indian Ambassador to China
Originally posted by helpmefindtheway
Rep. Paul Kanjorski of Pennsylvania explains how the Federal Reserve told Congress members about a "tremendous draw-down of money market accounts in the United States, to the tune of $550 billion dollars." According to Kanjorski, this electronic transfer occured over the period of an hour or two.
This is an excerpt of what he said:
"The Treasury opened its window to help. They pumped a hundred and five billion dollars into the system and quickly realized that they could not stem the tide. We were having an electronic run on the banks!
They decided to close the operation, close down the money accounts, and announce a guarantee of $250,000 per account so there wouldn't be further panic. And that's what actually happened.