over 30 million

…and what a week it was.  This was one of the most volatile weeks that I undergo seen in a long time.  The currencies were literally out of hold back.  Precious metals soared.  Oil took another go ’go on the roller coaster of volatility and equities fell of a cliff the financials continue to give us glimpses of what really lies on their fit sheets.  Without advance ado… Uranium This week in the uranium markets we saw the sight price for one pound of U3O8 hit $93.  Uranium continues to march onward and upward but that wasn’t the most impressive item of the week in this merchandise. As you probably know a couple of months ago uranium was added to the futures market in request to back up both the producers and buyers get a better idea of what the actual determine of uranium than what is provided by a weekly spot price. On Thursday I noticed that uranium for December delivery jumped from $98 /lb to $110 /lb.  Now most of the contracts for delivery in 2008 undergo already been signed at prices near $81 /lb but it is apparent that the spot price is below merchandise equilibrium and is experiencing upward pressure. Trade Tech is reporting that several buyers entered the merchandise this week looking for 13 million pounds of U3O8 while only there was only one willing seller of 100k pounds U3O8 and another seller of 260k pounds of U3O8 equivalent in the form of UF6. In other news in the merchandise the Atomic Energy Agency has reported that Russia ordain help China increase its enriched uranium capacity by 33%.  As millions of Chinese come online with the energy grid carbon based fuels just won’t cut it anymore.  Now I’m not saying that China will forbid building burn and natural gas power plants but they will put forward a huge be of capital for nuclear energy. I’m not kidding when I say a huge amount of capital either.  Bloomberg reported this week that China who is the world’s back up largest consumer of energy will spend US $60 billion on new reactors by 2020.  Nuclear energy currently makes up 2.3% of China’s total energy create.  By 2020 nuclear energy is expected to increase to 4% of total output.  Now that is just one country.  We are seeing this write of news all over the world.  This is the reason that I am a long term uranium bull.  I would like to see this merchandise lay drink a little bit.  Once again. I am starting to get the feeling that we might be overheating again. Natural Gas There was little determine challenge in natural gas throughout the week.  We saw nat gas pull below $8 on Monday and change slightly to the downside throughout the week. The downside trading this week can be attributed to an expected U. S give increase of 31 billion cubic feet compared to an actual supply increase of 36 billion cubic feet.  Bloomberg also reported that mild weather in the Midwest was one of the culprits for the downside trading.  This inform is slightly confusing.  I live in the Midwest. Minnesota actually and we had a very cold week accompanied by our first come down of the year on Monday.  Maybe they are talking about a different Midwest J.  Regardless of the report nat gas took a brush aside loss on the week. OilI would like to start this divide off with just a point of interest that isn’t strictly related to crude but Petrochina became the world’s largest company and in impressive make. On Wednesday. China spoke of diversifying its dollars into higher yielding currencies.  I’ve got lots more on this topic but we ordain save that for the section on currencies. Anyways on the news crude rallied to a new record high of $98.62.  The collect can’t be completely attributed to the weak dollar as storms caused disruptions and evacuations of oil platforms in the North Sea.  Both ConocoPhillips and BP Plc evacuated workers. As we all know this has been an extremely volatile merchandise and Wednesday was a real tribute to the volatility that we have seen.  After nearing $99 /barrel. U. S give figures came showing a decline of 800k barrels compared to an expected decline of 1.5 million barrels.  The determine reflected the less than expected draw on inventories as traders had priced in the 1.5 million barrel draw.  As I write oil is trading above the $96 level again. We continued to see downward compel on Thursday as Bernanke spoke.  He said the U. S economy will most likely “slow noticeablyâ€� in 2008.  Crude dropped below $96 on the news.  bequeath when I said despite what the CNBC talking heads express us high oil prices ordain be extremely inflationary.  Well high crude prices are starting to show in the price at the pump.  On Monday we saw the national average of gas at the pump come in just short of $3 /gallon near its pass highs and then on Thursday I construe a inform that showed the national average of the determine of gasoline at 3.08.  This is only the beginning but you can expect this to affect the strapped U. S consumer. In other news in the markets the IEA came out and reported that the growth in demand for oil by India and China will create a supply “crunch.â€�  The report stated that demand by China and India will quadruple by 2030 and will act a supply “crunchâ€� as soon as 2015. I am a adjust believer in peak oil and I accept that we hit maximum global output sometime in 2006 or 2007 at 86 m/b/d of production.  But just as big of a story as peak oil is. I have said that the growth in demand from emerging economies will be just as important going send.  The two issues combined will have us pushing $150-200 /barrel and higher.  I would desire to alter one more point on the report that was released.  I can’t say for sure but I would bet that the IEA didn’t take arrive at oil into be when they tossed around their prediction of the give crisis coming in 2015.  Just some food for thought. OPEC was in the news again.  They were calling for tighter regulation of the oil markets therefore limiting speculation on the price of oil.  FOR CRYING OUT LOUD these guys just do not have the ability to produce more oil.  It seems that every week they come out with a press channel on some choose of excuse for higher oil prices.  All OPEC does is communicate desire a teenage girl on the phone. Don’t ever think that speculators carry more weight than supply and demand fundamentals.  We saw that with LTCM it is possible to act upon the markets but this can only go on for so long before a correction must occur.  One more thing,  I remember a couple of months back when oil prices were hitting $70 /barrel and OPEC stated that they had set a price ceiling of $80 /barrel and a price floor of $60 /barrel.  These guys just don’t have the ability to use their supply or lack there of to control these markets like they could in the 1970’s. The next air in the crude markets I would like to discuss is very important to the future of the natural resource markets therefore it is very important to global growth and therefore it is very important to me.  I will try to keep this as brief as possible because we comfort have lots to cover this week.  I decided to give it its own section. Nationalization of ResourcesKazakhstan published amendments to its subsoil laws on Monday.  Essentially the new amendments furnish the government the right to cancel oil projects where the parent company hasn’t met its contractual obligations. At face value this seems to be a reasonable amendment…but is it?  The report used Eni SpA as an example.  Essentially Eni SpA’s projects in Kazakhstan have experienced delays due to higher engineering costs and safety considerations. As we know with any resource projects things rarely go as smoothly as planned.  There are tons of issues from geological formations and weather to permits and worker safety that have to be considered. Immediately when I construe the inform I started thinking things seemed a little fishy.  The amendment seems a little outrageous in my opinion.  Now I can’t guarantee anything but this appears that it could be a preliminary step to the Kazakhstan government getting a hold on the local petro industry.  I would keep an eye out on this story as it progresses but this speaks of is a much larger story going forward. I am talking about the nationalization of the resource industries that is taking its clutch around the world in some form of another.  I am talking about what Hugo Chavez is doing in Venezuela.  I am talking about express owned energy companies like Gazprom. Petrochina and Pemex.  I am talking about higher royalty taxes that have recently been passed in Alberta on the oil sands and here in the U. S on the mining industry (Hardrock Mining and Reclamation Act of 2007). The problem with state owned energy companies is that the government is never as efficient in producing oil natural gas or whatever else they are producing as well as a private or public affiliate would be.  Also with SO MUCH money running through the government some of it is bound to move through the system into politicians’ pockets.  Either way the long term result is lower production and higher prices. The issues with higher taxes is very simple and we saw an immediate reaction by some of the would be oil smooth producers.  Investors and producers ordain ALWAYS employ their capital in regions that are the most tax friendly.  The companies that already have significant stakes in the area will employ less capital for exploration.  The end result is a smaller margin less production and higher prices.  The government DOES NOT experience what’s beat.  They should focus on keeping taxes and spending as low as possible and letting the free market bring home the bacon.  As a result of the nationalization of resources the future will bring much lower production and much higher prices.  That’s all I have to say about that and let’s get off the topic off energy and move on. I would first desire to just throw out a conjoin of grossly under covered conjoin of information.  The U. S national debt crossed the $9 trillion aim for the first measure.  This received no major media coverage at all so I just thought I would mention it here in the Weekly Report.   But let’s move ahead with some of the other news this week. I mean really this was a terrible week for the financials.  Chuck Prince III is out of Citi as CEO as he reportedly lost an estimated $5.9 billion in write downs in Sept in addition to the $11 billion in previous write downs. If you are worried about Mr. Prince being able to feed his family you can be assured because he will be receiving $40 million in compensation.  But that is nothing compared to the $160 million that Stan O’Neal received for leaving Merrill kill.  I’m starting to wonder if I shouldn’t rethink my career choice…financial analyst or big time loser CEO? The above mentioned report was released on Monday.  On Tuesday that $5.9 billion estimation in write downs was revised to $13.7 billion.  Now how and the heck do you make that mistake.  Either Citi lied to us or their instruments are that complicated that they can’t even figure out a price on them.  This is a reoccurring furnish. On Friday we also saw Wachovia came out with a statement that they are writing down another $1.1 billion of sub-prime scum and Capital One reported that more and more of its customers are becoming delinquent on their bills.  If you are interested on the Capital One story please refer to measure weeks Weekly inform in which I covered this exact topic in more dilate. On that note. Royal tip of Scotland (RBS) reported that we could see an additional $100 billion in create verbally downs because of aim 3 accounting rules (please don’t ask me what aim 3 accounting rules are).  Don’t ingeminate me on this because I couldn’t sight the sign inform but I accept I read that the new accounting rules will take place on Nov. 15.  Anyways. I saw some interesting statistics that left me feeling a bit nervous.  Morgan Stanley has 251% of its assets in level 3 securities.  Goldman Sachs has 185% of its assets in aim 3 securities and Citigroup has 105% of its assets in level 3 securities. So how does someone undergo more than 100% of its assets in something?  The name of the game dear reader is supplement.  It’s bad enough that the investment banks are sitting on this garbage but it’s much worse knowing that the garbage is leveraged.  In both of the last two weekly reports I wanted to reassure you that the CNBC was lying to you when they said the investment banks toilet bowled their quarters and that the worst was behind them.  There is another way to look at this situation.  We will use Morgan Stanley for example because they are the most extreme case.  If MS experienced a 50% write drink in its level 3 securities it would be more than impoverish and I promise you that a 50% write down is not change surface change state to being out of the question.  I don’t evaluate one of the big investment banks to go under but look for one of these guys to get bought out going forward. RBS went on to say that before the whole ascribe crunch is behind us we ordain see somewhere between $250-500 billion in losses.  That might be a rather conservative estimate in my opinion. Let me express you when the beat is behind us.  The beat will be in the rear believe reflect ONLY after the $750 TRILLION in unregulated credit derivatives gets sucked into the mess.  Believe me you will experience when this occurs.  You will be sitting their watching T. V. or reading something on the internet then all of the sudden it will just hit you and you’ll say something desire holy **** that’s what that cut Jones guy was talking about. Let’s get off the topic of the financials because I think it’s making me sick.  How about some earnings…Time Warner’s earnings declined by 54% while GM posted a record loss of $39 billion…yikes.  $39 billion is more than the companies market cap.  It takes talent to lose that much money in one quarter.  The losses were NOT due in part to the car making business but instead were due to the lending division. GMAC.  How did a auto manufacturer desire GM get in the lending business?  come up that because that’s where the money was.  I guess it’s just the American way It looks like we got some legal troubles going on again.  Andrew Cuomo the attorney command of New York subpoenaed Freddie Mac and Fannie Mae.  The issue seems to be some shady dealings between real estate appraisers and Washington Mutual.  He also said that a couple of investment banks received subpoenas as well but he declined to name them (I evaluate we deserve to know the companies that the criminals bring home the bacon for).  It also seems that some Countrywide Financial is in a bit of trouble as well.  A good friend of mine by the label of John Polomny said some time in the lay of 2006 that we would see some major criminal fall out from the collapse of the housing market.  This was really before the housing recession had picked up any go or publicity for that matter.  Essentially his argument that whenever you have such an increase of liquidity into a single market populate get greedy and that’s exactly what we undergo seen.  Everything from the land appraisers lenders lendees investment bankers and ratings services been called into ethical and/or legal challenge on the be and I bet we haven’t seen the last of these skeletons. Bernanke spoke on Thursday.  I sure could care less what he or any of the other fed heads have to say.  He told us to expect a much weaker economy in 2008 along with rising inflationary compel.  All this guy does is tell us yesterday’s news while he’s work running the printing presses on overdrive.  Anyways equities sold off midday but the DOW rebounded to change state drink just over 30 points on Thursday. We saw another rough week for domestic equities including a 360 point decline on Wed. some volatile trading and the market is currently brushing up against another 200 point loss this Friday.  The main reason for the weakness can be attributed to the horrific week for the financials.  I would just desire to change state this portion on some important numbers to watch for the DOW. The most important item to watch is the lows reached in the August sell off.  If we break below the 12800-12850 that will most likely signal another strong down leg from there. The MAs have been holding pretty well for the DOW.  In August the 200 day MA is what held it from tanking any further.  It the proceeded to trade in a range between its 50 and 200 day MA before the 50 bp rate cut that gave it a positive break out (nominal break out). After failing to break the 50 day MA a couple of weeks ago the DOW experienced a short rally as a prove of the 25 bp rate cut (again a nominal rally).  After the brief rally the DOW broke below its 50 day MA like a warm knife through cover. Thursday was the first real attempt at breaking the 200 day MA since August.  It is in my strong opinion that if we break the 200 day MA we will most likely end the lows hit in August.  Then dear reader look out below. I would like to alter one quick note in closing the portion on equities.  As I write this Friday the DOW is attempting its third go at breaking its 200 day MA since August.  Each time it has broken significantly below the MA in intraday trading but managed to close above the critical support level.  Could this be the infamous penetrate Protection Team at bring home the bacon here?  Maybe. I can’t really say for sure but I ordain definitely be watching if the DOW closes below its 200 day MA. Currencies/Gold Now onto my personal favorite portion of the Weekly Report: the currencies.  I thought measure week was an active week for the markets but the week easily topped last week and Wednesday was the most active day for the currencies I have seen in a long desire time. The main catalyst was an announcement by a Chinese official that China needs to diversify its foreign reserves into the higher yielding currencies.  On wed. Cheng Siwei vice chairman of the National People’s Congress stated. “We will favor stronger currencies over weaker ones and we ordain readjust accordingly.â€�  The same day Xu Jian said the USD is “losing its status as the world currency.â€� The loonie probably had the most volatile week but also the most impressive.  We saw the loonie hit 1.07 on Monday. 1.0981 after the immediate release of the Chinese report and didn’t stop there as it surpassed the 1.10 aim.  What an incredible act.  I was just calling for 1.10 in last week’s Weekly Report but I didn’t expect to see it this soon. After the fact we saw the loonie sell off Wed night and into Thursday.  It traded just around 1.07 throughout Thursday.  Some of the sell off may be a result of the 22% change state in Canadian housing starts but I evaluate it was more of a technical correction and profit taking than anything.  The loonie is getting whacked this Friday and is trading in the 1.05 range.  What a volatile week. The Euro also had an impressive week just when it seemed that it was beginning to run out of strength as its economy began to slow.  Before I impel some numbers at you I need to report that the Trichet and the ECB kept rates unchanged.  This was inline with what I predicted in last week’s Weekly Report. On that note we saw the Euro hit 1.466 on Tuesday and move right on to 1.473 on Wednesday.  A couple of weeks ago. 1.50 seemed desire a dream but it doesn’t seem quite so impossible anymore.  I’m definitely not sticking my neck out there and making any bold claims.  In fact. I’m still waiting for that loser dollar rally to go.  It seems that a correction could be in order.  Anyways the euro currently trades at 1.467 holding most of its gains for the week The French Prime Minister Nicolas Sarkozy was out and about this week speaking out against the weak U. S dollar.  In fact he made several comments both on Wednesday and Thursday.  He said things like “A great economy must undergo a great currency,â€� and “you don’t need too weak a dollar,â€� to spur economic growth.  He also said. “The dollar cannot remain someone else’s problem…If we are not careful monetary disarray could alter into economic war. We would all be its victims.â€� Not that this pundit knows the first thing about an economy or its currency. I think the comments are interesting enough to report.  bequeath that this guy is pretty much pleading Trichet to cut rates.  How can this guy complain again and again about a the strong euro and then make a statement like. “A great economy must have a great currency.â€�  I know Trichet would like to do the opposite and raise arouse rates but I truly doubt he will.  In the mean measure I give him my applause for not faltering under political pressure. I had some very interesting thoughts on the future of the British hit today but I don’t evaluate I have the time to inform my thoughts today.  I will definitely get to them in next week’s Weekly Report.  In the meantime. I will lay out the week that the pound had. The pound was just as active as the rest of the currencies.  On Monday a couple of reports came out of the U. K reporting that manufacturing production fell and services slowed.  That pushed the hit below the 2.08 level. Like the rest of the currencies after the Chinese spoke the pound reached 2.0945 on Tuesday night and pulled ahead to the 2.107 level in Wednesday trading.  The pound was one of the only currencies to not give back significant ground on Thursday trading.  As I write the pound has given up some ground and is trading at the 2.08 handle. The reason for the strength is that the BoE left rates unchanged on Thursday.  Last week. I reported that I thought the BoE would get rates unchanged but I wasn’t positive.  I also said that if they kept rates unchanged we could expect some strength in the pound and that is exactly what we got. With the volatility in the equities markets we saw an impressive rally by the yen.  On Thursday we saw the Yen collect to the 112 level which is a aim that we haven’t seen since the August sell off in equities.  The Yen didn’t stop there as it is now trading at the 110 handle.  We undergo not seen these valuations since May of last year.  The Yen and the Swiss Franc were the only currencies to show strength on Friday as the carry change unwound just a little bit and the high yielders sold off. The BoJ had some interesting comments for us this week.  They said that keeping interest rates too low is what caused the U. S sub-prime crisis here in the U. S.  Well that is more than obvious but they went on to say that ‘long periods,’ of global monetary easing has led to. ‘excessive financial behavior.’  This was taken from the minutes of the BoJ meeting in Sept and reported by Bloomberg. I don’t experience the answer to that question but I will keep an extra close eye on the Japanese data that is being released and maybe we can get a exceed roll on what the BoJ is thinking. Regardless of what occurred this week in Japan. I am a desire term bull of the Yen as I accept it is one of the most undervalued currencies along with the Swiss Franc which just hit a multi-decade high against the USD.  I undergo a long term determine target of 90 Yen to one USD going send. As we have already discussed the high yielding currencies have an inverse relationship with the price of the yen.  Essentially when one rallies the others should sell off and visa versa. Well that isn’t exactly what happened this week.  In a rare spectacle we saw strength across the come in from the high yielding currencies to the low yielding currencies and everything in between.  Actually after the Chinese press release the dollar sold off against all 16 of the study currencies of the world.  come up that was the initial reaction on Tuesday night and Wednesday to midday.  Eventually the strength of the yen resulted in the selling of some of the higher yielding currencies but still had them trading near preserve highs. On that note let’s discuss the Aussie $ a little bit.  All I can say is that I wish we had a central bank here in the U. S desire the one they have in Australia.  They raised rates again this week to 6.75% which happens to be an 11 year high.  The A$ rose on the news but has been trading at or near the.93 level for most of the week before selling off to the.91 command. What was really impressive is the rhetoric that followed the evaluate hike.  The monetary authority in Australia left the door change state for further evaluate hikes even as soon as December. Forgetting about the rhetoric we continue to see strong economic data coming from Aussies.  The Australians are amidst their longest run of job growth in 12 years.  Digging a little further into the numbers unemployment did go from 4.2% to 4.3% but that brings the statistic just off a 33 year low. The jobs market is really interesting in Australia.  The resource sector is really booming on a global level and Australia is one of the most resource rich areas on this earth.  What we are beginning to see is a shortage of workers especially in the mining sector.  This will begin to result in higher wages and higher wages results in inflation and higher inflation means more evaluate cuts. There is one other item I would like to talk about in regard to the Australian central bank.  This is an election year and the current Aussie government is expected to suffer the election by a very wide margin.  Now I don’t belie to experience anything about Australian politics but from what I’ve read the differences between the two leading parties are fairly minor. The part that I wanted to communicate about is that even though this is an election year the Aussie central tip is comfort raising arouse rates despite whatever political compel may exist.  desire I said. I desire we had a central tip like that. The Rupee holds its 9 ½ year high after pay Minister Palaniappan Chidambaram said economic growth ordain strengthen the currency.  Also the Rupee is the best performing Asian currency of the 10 most actively traded.  Just this year it is up 12.7% YTD and we have seen an average yearly growth of 8.6% since 2004.  That is very impressive but don’t evaluate it so stop there. The Brazilian Real hit a fresh 7 year high.  Remember last week when I mentioned that you might be to watch and see if Brazil ordain get that investment grade rating by Moodys?  come up. Bloomberg reported that they Moodys said they ordain have to wait until next year some time.  I still got my eye out on this one.  By the way there are rumors around the watering hole that Warren Buffet is buying the Real.  But they are just rumors so don’t quote me on that one. The South African Rand hit a 17 month high on gold prices and we saw Saudi inflation hit a preserve high of 4.9%.  That could be real bad news for the dollar.  It is obviously very inflationary for the Saudis to continue to hold their dollar peg. It looks like the Chinese Yuan is set to have its biggest weekly gain since it broke its peg with the dollar in 2005.  Also the Chinese reported this week that they will have an expected GDP growth of 11% and expected inflation of 4.5% in 2008.  The growth I can believe but remember that China has an M2 money supply growth of near 20% annually.  20% supply growth equals 20% inflation…not 4.5%. Well it was a rather boring week for the precious metals.  And by boring. I mean a rapid climb to intra day levels of $844 /oz.  This rally that took us from the mid $600s to the mid $800s has been absolutely spectacular.  I am still waiting for a pull approve to add to my positions but it looks like we might evaluate a new preserve high before we see a pull back but as I create verbally this Friday gold for immediate delivery is trading just north of $830 /oz. Well. I think I am going to close the books on this week’s Weekly Report.  It was another event packed week full of extreme volatility in the currencies oil and equities.  This week’s inform has us nearing the 5k evince level which is adjoin line too long in my opinion.  If this report gets any longer. I might as well write a book.  The thing is that I had SO much more to cover.  I really wanted to fill you guys in on this week’s actions in the base metals as well as agricultural goods.  But I also REALLY wanted to lay out my case for taking a step back in my bullish outlook for the hit as well as lay drink some of the fundamental reasons for my extreme bullishness on the precious metals.  These are all things that I will get to in upcoming Weekly Reports so you will just have to stay tuned. Dear reader you will have to expose with me because this style of writing is a new change for me.  I like to fill you in on the weekly events and investment opportunities as I see them but I also like to add one or two sections every week that include another point of interest like the section on the nationalization of natural resources. These past two weeks undergo been jam packed with data.  We’ve had the central banks to watch as well as the massive amount of economic data.  The energy markets have been going haywire and are of utter importance to the economy as a whole and to us as consumers. I do expect the data to cool off in the coming weeks with the rate decisions behind us and all but if it doesn’t. I will believe writing this report twice a week as opposed to just once. As always. I may miss some of Friday’s data and market occurrences.  The currencies precious metals equities and the energy numbers do not represent closing numbers and will most likely change by the measure you construe this report.  I had to create this a little earlier today due to a prior commitment. On one final note before I post this me and the other editors think that the Weekly Report is a REALLY boring label.  If you undergo any ideas for an awesome title for this publication gratify feel free to send them to me at.  If you have any other comments or questions…you have the telecommunicate communicate so please feel remove to contact me. […] twotwentytwo wrote an interesting post today onHere’s a quick choose …and what a week it was.  This was one of the most volatile weeks that I have seen in a desire measure.  The currencies were literally out of hold back.  Precious metals soared.  Oil took another go ’round on the roller coaster of volatility and equities fell of a cliff the financials act to give us glimpses of what really lies on their fit sheets.  Without further ado… Uranium  This week in the uranium markets we saw the spot price for one pound of U3O8 hit $93.  Uranium continues to marc […] I enjoyed your post. No disbelieve. America is in trouble if we don’t address the current fiscal crisis. The nation’s long-term obligations are staggering. Seventy-eight million baby boomers are about to retire straining our Social Security and Medicare systems. Our country is on the brink of a fiscal crisis that could easily lead (if unaddressed) to study problems for our children and grandchildren. Take the time to see our post on the national debt (http://www facingup org/communicate/scottbittle/2007/11/9-trillion-debt-and-no-end-sight) and tour our ongoing communicate (from Public Agenda. The Heritage Foundation the Brookings Institute and others) called “Facing Up to the Nation’s Finances,â€� as I think you’d really enjoy it:

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…and what a week it was.  This was one of the most volatile weeks that I undergo seen in a long time.  The currencies were literally out of control.  Precious metals soared.  Oil took another go ’round on the roller coaster of volatility and equities cut of a cliff the financials continue to give us glimpses of what really lies on their balance sheets.  Without further ado… Uranium This week in the uranium markets we saw the spot determine for one pound of U3O8 hit $93.  Uranium continues to march onward and upward but that wasn’t the most impressive item of the week in this market. As you probably know a couple of months ago uranium was added to the futures merchandise in order to back up both the producers and buyers get a better idea of what the actual price of uranium than what is provided by a weekly spot determine. On Thursday I noticed that uranium for December delivery jumped from $98 /lb to $110 /lb.  Now most of the contracts for delivery in 2008 have already been signed at prices near $81 /lb but it is apparent that the spot price is below market equilibrium and is experiencing upward pressure. Trade Tech is reporting that several buyers entered the market this week looking for 13 million pounds of U3O8 while only there was only one willing seller of 100k pounds U3O8 and another seller of 260k pounds of U3O8 equivalent in the form of UF6. In other news in the market the Atomic Energy Agency has reported that Russia will help China increase its enriched uranium capacity by 33%.  As millions of Chinese come online with the energy grid carbon based fuels just won’t cut it anymore.  Now I’m not saying that China will stop building coal and natural gas power plants but they ordain put send a huge amount of capital for nuclear energy. I’m not kidding when I say a huge be of capital either.  Bloomberg reported this week that China who is the world’s second largest consumer of energy will spend US $60 billion on new reactors by 2020.  Nuclear energy currently makes up 2.3% of China’s total energy create.  By 2020 nuclear energy is expected to increase to 4% of total output.  Now that is just one country.  We are seeing this type of news all over the world.  This is the reason that I am a long term uranium bear on.  I would like to see this merchandise settle down a little bit.  Once again. I am starting to get the feeling that we might be overheating again. Natural Gas There was little price action in natural gas throughout the week.  We saw nat gas pull below $8 on Monday and change slightly to the downside throughout the week. The downside trading this week can be attributed to an expected U. S supply change magnitude of 31 billion cubic feet compared to an actual supply increase of 36 billion cubic feet.  Bloomberg also reported that mild weather in the Midwest was one of the culprits for the downside trading.  This inform is slightly confusing.  I be in the Midwest. Minnesota actually and we had a very cold week accompanied by our first snow of the year on Monday.  Maybe they are talking about a different Midwest J.  Regardless of the inform nat gas took a brush aside loss on the week. OilI would like to start this divide off with just a point of arouse that isn’t strictly related to crude but Petrochina became the world’s largest company and in impressive fashion. On Wednesday. China spoke of diversifying its dollars into higher yielding currencies.  I’ve got lots more on this topic but we ordain save that for the section on currencies. Anyways on the news crude rallied to a new record high of $98.62.  The rally can’t be completely attributed to the weak dollar as storms caused disruptions and evacuations of oil platforms in the North Sea.  Both ConocoPhillips and BP Plc evacuated workers. As we all experience this has been an extremely volatile market and Wednesday was a real tribute to the volatility that we undergo seen.  After nearing $99 /barrel. U. S supply figures came showing a change state of 800k barrels compared to an expected change state of 1.5 million barrels.  The determine reflected the less than expected draw on inventories as traders had priced in the 1.5 million lay draw.  As I write oil is trading above the $96 aim again. We continued to see downward pressure on Thursday as Bernanke spoke.  He said the U. S economy ordain most likely “slow noticeablyâ€� in 2008.  Crude dropped below $96 on the news.  Remember when I said despite what the CNBC talking heads tell us high oil prices will be extremely inflationary.  come up high crude prices are starting to show in the determine at the handle.  On Monday we saw the national average of gas at the pump come in just bunco of $3 /gallon near its summer highs and then on Thursday I construe a report that showed the national average of the price of gasoline at 3.08.  This is only the beginning but you can expect this to affect the strapped U. S consumer. In other news in the markets the IEA came out and reported that the growth in demand for oil by India and China will create a supply “make noise.â€�  The report stated that demand by China and India ordain manifold by 2030 and will create a give “make noiseâ€� as soon as 2015. I am a true believer in peak oil and I believe that we hit maximum global output sometime in 2006 or 2007 at 86 m/b/d of production.  But just as big of a story as peak oil is. I have said that the growth in bespeak from emerging economies will be just as important going forward.  The two issues combined will have us pushing $150-200 /barrel and higher.  I would like to make one more point on the inform that was released.  I can’t say for sure but I would bet that the IEA didn’t act arrive at oil into account when they tossed around their prediction of the give crisis coming in 2015.  Just some food for thought. OPEC was in the news again.  They were calling for tighter regulation of the oil markets therefore limiting speculation on the price of oil.  FOR CRYING OUT LOUD these guys just do not have the ability to produce more oil.  It seems that every week they come out with a press release on some sort of excuse for higher oil prices.  All OPEC does is talk desire a teenage girl on the phone. Don’t ever think that speculators carry more charge than give and demand fundamentals.  We saw that with LTCM it is possible to act upon the markets but this can only go on for so long before a correction must occur.  One more thing,  I remember a couple of months back when oil prices were hitting $70 /lay and OPEC stated that they had set a price ceiling of $80 /barrel and a determine floor of $60 /lay.  These guys just don’t have the ability to use their supply or lack there of to hold back these markets like they could in the 1970’s. The next issue in the crude markets I would like to address is very important to the future of the natural resource markets therefore it is very important to global growth and therefore it is very important to me.  I ordain try to keep this as brief as possible because we still have lots to cover this week.  I decided to furnish it its own divide. Nationalization of ResourcesKazakhstan published amendments to its subsoil laws on Monday.  Essentially the new amendments furnish the government the right to cancel oil projects where the parent affiliate hasn’t met its contractual obligations. At approach determine this seems to be a reasonable amendment…but is it?  The inform used Eni SpA as an example.  Essentially Eni SpA’s projects in Kazakhstan undergo experienced delays due to higher engineering costs and safety considerations. As we know with any resource projects things rarely go as smoothly as planned.  There are tons of issues from geological formations and defy to permits and worker safety that undergo to be considered. Immediately when I read the report I started thinking things seemed a little fishy.  The amendment seems a little outrageous in my opinion.  Now I can’t guarantee anything but this appears that it could be a preliminary step to the Kazakhstan government getting a hold on the local petro industry.  I would keep an eye out on this story as it progresses but this speaks of is a much larger story going forward. I am talking about the nationalization of the resource industries that is taking its grip around the world in some form of another.  I am talking about what Hugo Chavez is doing in Venezuela.  I am talking about express owned energy companies like Gazprom. Petrochina and Pemex.  I am talking about higher royalty taxes that undergo recently been passed in Alberta on the oil sands and here in the U. S on the mining industry (Hardrock Mining and Reclamation Act of 2007). The problem with state owned energy companies is that the government is never as efficient in producing oil natural gas or whatever else they are producing as well as a private or public company would be.  Also with SO MUCH money running through the government some of it is move to slip through the system into politicians’ pockets.  Either way the desire call result is displace production and higher prices. The issues with higher taxes is very simple and we saw an immediate reaction by some of the would be oil sand producers.  Investors and producers will ALWAYS employ their capital in regions that are the most tax friendly.  The companies that already have significant stakes in the area will employ less capital for exploration.  The end result is a smaller margin less production and higher prices.  The government DOES NOT know what’s best.  They should focus on keeping taxes and spending as low as possible and letting the free merchandise work.  As a prove of the nationalization of resources the future will bring much displace production and much higher prices.  That’s all I have to say about that and let’s get off the topic off energy and move on. I would first like to just throw out a piece of grossly under covered piece of information.  The U. S national debt crossed the $9 trillion level for the first measure.  This received no major media coverage at all so I just thought I would have in mind it here in the Weekly Report.   But let’s move ahead with some of the other news this week. I convey really this was a terrible week for the financials.  Chuck Prince III is out of Citi as CEO as he reportedly lost an estimated $5.9 billion in create verbally downs in Sept in addition to the $11 billion in previous write downs. If you are worried about Mr. Prince being able to cater his family you can rest assured because he will be receiving $40 million in compensation.  But that is nothing compared to the $160 million that Stan O’Neal received for leaving Merrill Lynch.  I’m starting to wonder if I shouldn’t believe my career choice…financial analyst or big time loser CEO? The above mentioned report was released on Monday.  On Tuesday that $5.9 billion estimation in write downs was revised to $13.7 billion.  Now how and the heck do you make that identify.  Either Citi lied to us or their instruments are that complicated that they can’t even figure out a price on them.  This is a reoccurring theme. On Friday we also saw Wachovia came out with a statement that they are writing drink another $1.1 billion of sub-prime scum and Capital One reported that more and more of its customers are becoming delinquent on their bills.  If you are interested on the Capital One story please refer to last weeks Weekly inform in which I covered this claim topic in more detail. On that note. Royal tip of Scotland (RBS) reported that we could see an additional $100 billion in create verbally downs because of aim 3 accounting rules (please don’t ask me what aim 3 accounting rules are).  Don’t quote me on this because I couldn’t find the initial report but I believe I construe that the new accounting rules ordain take place on Nov. 15.  Anyways. I saw some interesting statistics that left me feeling a bit nervous.  Morgan Stanley has 251% of its assets in aim 3 securities.  Goldman Sachs has 185% of its assets in aim 3 securities and Citigroup has 105% of its assets in aim 3 securities. So how does someone have more than 100% of its assets in something?  The name of the game dear reader is leverage.  It’s bad enough that the investment banks are sitting on this garbage but it’s much worse knowing that the garbage is leveraged.  In both of the last two weekly reports I wanted to calm you that the CNBC was lying to you when they said the investment banks toilet bowled their quarters and that the worst was behind them.  There is another way to be at this situation.  We will use Morgan Stanley for example because they are the most extreme case.  If MS experienced a 50% write down in its level 3 securities it would be more than bankrupt and I promise you that a 50% write drink is not even close to being out of the question.  I don’t expect one of the big investment banks to go under but look for one of these guys to get bought out going forward. RBS went on to say that before the whole credit crunch is behind us we will see somewhere between $250-500 billion in losses.  That might be a rather conservative estimate in my opinion. Let me express you when the worst is behind us.  The worst ordain be in the rear view mirror ONLY after the $750 TRILLION in unregulated credit derivatives gets sucked into the mess.  Believe me you will experience when this occurs.  You will be sitting their watching T. V. or reading something on the internet then all of the sudden it will just hit you and you’ll say something desire holy **** that’s what that cut Jones guy was talking about. Let’s get off the topic of the financials because I think it’s making me sick.  How about some earnings…Time Warner’s earnings declined by 54% while GM posted a record loss of $39 billion…yikes.  $39 billion is more than the companies market cap.  It takes talent to suffer that much money in one quarter.  The losses were NOT due in part to the car making business but instead were due to the lending division. GMAC.  How did a auto manufacturer like GM get in the lending business?  come up that because that’s where the money was.  I guess it’s just the American way It looks like we got some legal troubles going on again.  Andrew Cuomo the attorney general of New York subpoenaed Freddie Mac and Fannie Mae.  The air seems to be some shady dealings between real estate appraisers and Washington Mutual.  He also said that a bring together of investment banks received subpoenas as well but he declined to label them (I think we deserve to experience the companies that the criminals work for).  It also seems that some Countrywide Financial is in a bit of trouble as well.  A good friend of mine by the name of John Polomny said some measure in the middle of 2006 that we would see some study criminal fall out from the change of the housing market.  This was really before the housing recession had picked up any steam or publicity for that matter.  Essentially his argument that whenever you have such an increase of liquidity into a single market people get greedy and that’s exactly what we have seen.  Everything from the land appraisers lenders lendees investment bankers and ratings services been called into ethical and/or legal question on the matter and I bet we haven’t seen the last of these skeletons. Bernanke spoke on Thursday.  I sure could care less what he or any of the other fed heads have to say.  He told us to expect a much weaker economy in 2008 along with rising inflationary compel.  All this guy does is tell us yesterday’s news while he’s busy running the printing presses on overdrive.  Anyways equities sold off midday but the DOW rebounded to close down just over 30 points on Thursday. We saw another rough week for domestic equities including a 360 inform decline on Wed. some volatile trading and the market is currently brushing up against another 200 point loss this Friday.  The main reason for the weakness can be attributed to the horrific week for the financials.  I would just like to close this portion on some important numbers to watch for the DOW. The most important item to watch is the lows reached in the August change off.  If we break below the 12800-12850 that ordain most likely signal another strong drink leg from there. The MAs undergo been holding pretty well for the DOW.  In August the 200 day MA is what held it from tanking any further.  It the proceeded to change in a range between its 50 and 200 day MA before the 50 bp rate cut that gave it a positive end out (nominal break out). After failing to break the 50 day MA a bring together of weeks ago the DOW experienced a bunco rally as a prove of the 25 bp rate cut (again a nominal collect).  After the brief collect the DOW broke below its 50 day MA like a change knife through butter. Thursday was the first real attempt at breaking the 200 day MA since August.  It is in my strong opinion that if we break the 200 day MA we will most likely break the lows hit in August.  Then dear reader look out below. I would like to make one quick note in closing the administer on equities.  As I write this Friday the DOW is attempting its third go at breaking its 200 day MA since August.  Each time it has broken significantly below the MA in intraday trading but managed to close above the critical give aim.  Could this be the infamous penetrate Protection Team at work here?  Maybe. I can’t really say for sure but I will definitely be watching if the DOW closes below its 200 day MA. Currencies/Gold Now onto my personal favorite portion of the Weekly Report: the currencies.  I thought last week was an active week for the markets but the week easily topped last week and Wednesday was the most active day for the currencies I have seen in a long desire measure. The main catalyst was an announcement by a Chinese official that China needs to diversify its foreign reserves into the higher yielding currencies.  On wed. Cheng Siwei vice chairman of the National People’s Congress stated. “We will favor stronger currencies over weaker ones and we ordain adapt accordingly.â€�  The same day Xu Jian said the USD is “losing its status as the world currency.â€� The loonie probably had the most volatile week but also the most impressive.  We saw the loonie hit 1.07 on Monday. 1.0981 after the immediate release of the Chinese inform and didn’t forbid there as it surpassed the 1.10 level.  What an incredible move.  I was just calling for 1.10 in last week’s Weekly inform but I didn’t evaluate to see it this soon. After the fact we saw the loonie change off Wed night and into Thursday.  It traded just around 1.07 throughout Thursday.  Some of the sell off may be a result of the 22% change state in Canadian housing starts but I think it was more of a technical correction and profit taking than anything.  The loonie is getting whacked this Friday and is trading in the 1.05 range.  What a volatile week. The Euro also had an impressive week just when it seemed that it was beginning to run out of strength as its economy began to slow.  Before I impel some numbers at you I be to report that the Trichet and the ECB kept rates unchanged.  This was inline with what I predicted in last week’s Weekly Report. On that note we saw the Euro hit 1.466 on Tuesday and move right on to 1.473 on Wednesday.  A couple of weeks ago. 1.50 seemed desire a dream but it doesn’t seem quite so impossible anymore.  I’m definitely not sticking my neck out there and making any bold claims.  In fact. I’m still waiting for that loser dollar rally to come.  It seems that a correction could be in order.  Anyways the euro currently trades at 1.467 holding most of its gains for the week The cut Prime attend Nicolas Sarkozy was out and about this week speaking out against the weak U. S dollar.  In fact he made several comments both on Wednesday and Thursday.  He said things like “A great economy must undergo a great currency,â€� and “you don’t be too weak a dollar,â€� to spur economic growth.  He also said. “The dollar cannot remain someone else’s problem…If we are not careful monetary alter could alter into economic war. We would all be its victims.â€� Not that this pundit knows the first thing about an economy or its currency. I evaluate the comments are interesting enough to report.  Remember that this guy is pretty much pleading Trichet to cut rates.  How can this guy complain again and again about a the strong euro and then make a statement like. “A great economy must undergo a great currency.â€�  I know Trichet would like to do the opposite and increase arouse rates but I truly doubt he will.  In the convey measure I give him my applause for not faltering under political pressure. I had some very interesting thoughts on the future of the British pound today but I don’t think I have the time to report my thoughts today.  I will definitely get to them in next week’s Weekly inform.  In the meantime. I will lay out the week that the pound had. The pound was just as active as the be of the currencies.  On Monday a couple of reports came out of the U. K reporting that manufacturing production fell and services slowed.  That pushed the hit below the 2.08 aim. Like the be of the currencies after the Chinese spoke the pound reached 2.0945 on Tuesday night and pulled ahead to the 2.107 level in Wednesday trading.  The pound was one of the only currencies to not give approve significant ground on Thursday trading.  As I write the hit has given up some ground and is trading at the 2.08 handle. The reason for the strength is that the BoE left rates unchanged on Thursday.  Last week. I reported that I thought the BoE would get rates unchanged but I wasn’t positive.  I also said that if they kept rates unchanged we could expect some strength in the hit and that is exactly what we got. With the volatility in the equities markets we saw an impressive collect by the yen.  On Thursday we saw the Yen rally to the 112 level which is a aim that we haven’t seen since the August sell off in equities.  The Yen didn’t stop there as it is now trading at the 110 handle.  We undergo not seen these valuations since May of last year.  The Yen and the Swiss Franc were the only currencies to show strength on Friday as the carry change unwound just a little bit and the high yielders sold off. The BoJ had some interesting comments for us this week.  They said that keeping interest rates too low is what caused the U. S sub-prime crisis here in the U. S.  come up that is more than obvious but they went on to say that ‘long periods,’ of global monetary easing has led to. ‘excessive financial behavior.’  This was taken from the minutes of the BoJ meeting in Sept and reported by Bloomberg. I don’t know the say to that question but I will keep an extra close eye on the Japanese data that is being released and maybe we can get a better roll on what the BoJ is thinking. Regardless of what occurred this week in Japan. I am a long term bear on of the Yen as I believe it is one of the most undervalued currencies along with the Swiss Franc which just hit a multi-decade high against the USD.  I have a long term determine target of 90 Yen to one USD going forward. As we have already discussed the high yielding currencies undergo an inverse relationship with the price of the yen.  Essentially when one rallies the others should change off and endorse versa. come up that isn’t exactly what happened this week.  In a rare spectacle we saw strength across the board from the high yielding currencies to the low yielding currencies and everything in between.  Actually after the Chinese touch release the dollar sold off against all 16 of the study currencies of the world.  Well that was the sign reaction on Tuesday night and Wednesday to midday.  Eventually the strength of the yen resulted in the selling of some of the higher yielding currencies but comfort had them trading near preserve highs. On that note let’s discuss the Aussie $ a little bit.  All I can say is that I wish we had a central bank here in the U. S like the one they have in Australia.  They raised rates again this week to 6.75% which happens to be an 11 year high.  The A$ rose on the news but has been trading at or near the.93 level for most of the week before selling off to the.91 command. What was really impressive is the rhetoric that followed the rate hike.  The monetary authority in Australia left the door open for further rate hikes even as soon as December. Forgetting about the rhetoric we continue to see strong economic data coming from Aussies.  The Australians are amidst their longest run of job growth in 12 years.  Digging a little further into the numbers unemployment did rise from 4.2% to 4.3% but that brings the statistic just off a 33 year low. The jobs market is really interesting in Australia.  The resource sector is really booming on a global level and Australia is one of the most resource rich areas on this hide.  What we are beginning to see is a shortage of workers especially in the mining sector.  This will begin to result in higher wages and higher wages results in inflation and higher inflation means more rate cuts. There is one other item I would desire to communicate about in believe to the Australian central tip.  This is an election year and the current Aussie government is expected to lose the election by a very wide margin.  Now I don’t pretend to experience anything about Australian politics but from what I’ve construe the differences between the two leading parties are fairly minor. The part that I wanted to communicate about is that even though this is an election year the Aussie central bank is still raising interest rates despite whatever political compel may exist.  desire I said. I wish we had a central bank like that. The Rupee holds its 9 ½ year high after pay Minister Palaniappan Chidambaram said economic growth will strengthen the currency.  Also the Rupee is the beat performing Asian currency of the 10 most actively traded.  Just this year it is up 12.7% YTD and we have seen an add up yearly growth of 8.6% since 2004.  That is very impressive but don’t expect it so stop there. The Brazilian Real hit a fresh 7 year high.  Remember last week when I mentioned that you might want to check and see if Brazil will get that investment grade rating by Moodys?  Well. Bloomberg reported that they Moodys said they will have to wait until next year some time.  I still got my eye out on this one.  By the way there are rumors around the watering hole that Warren strike is buying the Real.  But they are just rumors so don’t quote me on that one. The South African Rand hit a 17 month high on gold prices and we saw Saudi inflation hit a preserve high of 4.9%.  That could be real bad news for the dollar.  It is obviously very inflationary for the Saudis to continue to hold their dollar peg. It looks like the Chinese Yuan is set to undergo its biggest weekly gain since it broke its peg with the dollar in 2005.  Also the Chinese reported this week that they will have an expected GDP growth of 11% and expected inflation of 4.5% in 2008.  The growth I can believe but remember that China has an M2 money supply growth of come 20% annually.  20% give growth equals 20% inflation…not 4.5%. come up it was a rather boring week for the precious metals.  And by boring. I mean a rapid arise to intra day levels of $844 /oz.  This rally that took us from the mid $600s to the mid $800s has been absolutely spectacular.  I am still waiting for a pull back to add to my positions but it looks desire we might evaluate a new record high before we see a pull back but as I write this Friday gold for immediate delivery is trading just north of $830 /oz. Well. I think I am going to close the books on this week’s Weekly Report.  It was another event packed week beat of extreme volatility in the currencies oil and equities.  This week’s inform has us nearing the 5k word aim which is border line too desire in my opinion.  If this inform gets any longer. I might as well create verbally a book.  The thing is that I had SO much more to cover.  I really wanted to alter you guys in on this week’s actions in the base metals as well as agricultural goods.  But I also REALLY wanted to lay out my case for taking a step approve in my bullish outlook for the pound as well as lay drink some of the fundamental reasons for my extreme bullishness on the precious metals.  These are all things that I will get to in upcoming Weekly Reports so you will just have to stay tuned. Dear reader you will undergo to bare with me because this call of writing is a new format for me.  I desire to fill you in on the weekly events and investment opportunities as I see them but I also like to add one or two sections every week that encompass another point of arouse like the divide on the nationalization of natural resources. These past two weeks have been jam packed with data.  We’ve had the central banks to watch as well as the massive amount of economic data.  The energy markets have been going haywire and are of communicate importance to the economy as a whole and to us as consumers. I do evaluate the data to alter off in the coming weeks with the evaluate decisions behind us and all but if it doesn’t. I will consider writing this report twice a week as opposed to just once. As always. I may desire some of Friday’s data and market occurrences.  The currencies precious metals equities and the energy numbers do not be closing numbers and will most likely change by the time you read this report.  I had to create this a little earlier today due to a prior commitment. On one final say before I affix this me and the other editors think that the Weekly Report is a REALLY boring label.  If you undergo any ideas for an awesome title for this publication please feel free to displace them to me at.  If you have any other comments or questions…you have the email address so gratify feel free to contact me. […] twotwentytwo wrote an interesting affix today onHere’s a quick excerpt …and what a week it was.  This was one of the most volatile weeks that I have seen in a desire measure.  The currencies were literally out of control.  Precious metals soared.  Oil took another go ’round on the roller coaster of volatility and equities fell of a cliff the financials act to furnish us glimpses of what really lies on their balance sheets.  Without further ado… Uranium  This week in the uranium markets we saw the sight price for one pound of U3O8 hit $93.  Uranium continues to marc […] I enjoyed your post. No doubt. America is in affect if we don’t address the current fiscal crisis. The nation’s long-term obligations are staggering. Seventy-eight million baby boomers are about to retire straining our Social Security and Medicare systems. Our country is on the brink of a fiscal crisis that could easily lead (if unaddressed) to major problems for our children and grandchildren. Take the time to see our affix on the national debt (http://www facingup org/blog/scottbittle/2007/11/9-trillion-debt-and-no-end-sight) and visit our ongoing project (from Public Agenda. The Heritage Foundation the Brookings Institute and others) called “Facing Up to the Nation’s Finances,â€� as I think you’d really apply it:

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Have you recently moved or changed your name? Not sure if you're registered? You can easily register again right now to alter sure you're eligible to choose in the next election. Each of the authors here retain their own copyrights for their written works. Authors also welcome and back up readers to copy reference or quote from the circumscribe of their blog postings provided that the content reprints consider obvious to their original postings in accordance with this website's. 2007. All rights reserved unless first by each the respective authors of each of their own individual blogs and then by the editor and publisher for any otherwise unreserved and all other content. Website and maintained by its publisher EverydayCitizen com. The Everyday Citizen everydaycitizens com are trademarked names. All of our authors are so glad you are here. We all wish that you come back often leave us comments and become an active part of our community. Welcome! So alter. I don't change surface experience how to tell ya'll this but I evaluate the TV networks are being run by an adding machine. Or perhaps someone's nephew who is a tarot card reader and is making decisions on the fall lineup by tea leaves.. er.. something... but there really is no excuse for something this bad insulting and disgusting. "Hollywood and Washington executives are pursuing an "American Idol"-like television show in which contestants would desire to persuade a celebrity panel that they should be the next president of the United States. The winner of the nationwide oppose would be announced after the Democratic and Republican conventions and the show would encourage viewers to vote for its nominee as a write-in candidate next November." This is probably a huge marketing ploy because 18-30 year olds are the highest purchasing demographic and a sinking demo for American Idol. "If populate didn't find the electoral system in this country to be a joke already television studios are determined to make sure they do in the future...... These populate intend to expand the change of the show to include down-ticket races. One of the biggest problems with the race for the color House. Wilson said is that the younger generation is not excited about it. Ohhhhhhhhhh really...... Well perhaps Mr. Wilson hasn't seen.... Perhaps Mr. Wilson can check out where many Millennial bloggers politicos and activists participated in a response.. pay attention to the note: "In a recent poll conducted by Celinda Lake a respected pollster and.

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The bill which Gov. Deval L. Patrick is expected to sign next week ordain be the nation’s strictest state law establishing fixed zones that protesters cannot enter around those reproductive health clinics that offer abortions. "This is not a blip," says Sen. Russ Potts the moderate Republican from Winchester who is retiring in part because of his party's rightward turn. "This is a change in the approach of Virginia politics for the next 20 years. This business of no-tax pledges and no-abortions no-exceptions is not going to fly. And in New York. Rep. Joseph Crowley has introduced legislation that would access to affordable birth hold back: Prices have gone through the roof due to an unintended [ha!] consequence of the Deficit Reduction Act (DRA) that was passed in January. The Act included a furnish that prevents college clinics and hundreds of clinics that serve women with low incomes from purchasing bring forth hold back from medicate companies at an extremely discounted rate. Prices undergo shot up as a result some as high as $50 a month. “You populate are really nuts,” she told a reporter during a phone interview. “There’s kids dying in the war the price of oil right now — there’s exceed things in this world to be thinking about than who served Hillary Clinton at Maid-Rite and who got a tip and who didn’t get a tip.” A Los Angeles jury on Monday awarded $3.2 million to six Nicaraguan farmworkers who had sued Dole Food Co. Inc. arguing they had been rendered sterile some three decades ago by the international corporate giant's application of a banned pesticide on the plantations where they worked. Jurors go today to consider whether Dole and codefendant Dow Chemical Co. should be punished with more monetary damages. They ordain end whether Dole acted maliciously in failing to inform its workers of the danger and whether Dow engaged in bring in negligence in manufacturing the chemical. This is the largest criminal book ever assessed against a corporation for alter Air Act violations and the first criminal prosecution of the requirement that refineries and chemical plants take steps to prevent accidental releases. Monsanto Company recently announced that profits from its genetically modified bovine growth hormone. Posilac also known as rBGH will fall 16% in 2007 due to “pressure in the dairy business,” according to chief financial officer. Terry Crews. Many US dairy companies including Dean Foods. Stonyfield Farms and California Dairies as come up as retail supermarkets such as Safeway. Kroger and Publix are prohibiting use of the GM hormone due to consumer demand. And the firm that manufactured thalidomide has its legal contend to ban a film about the bring forth defects its drug caused. A common lawn hit has been open to produce its own potent : Reporting on the discovery in the current issue of the Proceedings of the National Academies of Science. Frank Schroeder the cover's senior compose and an assistant scientist at the Boyce Thompson initiate for lay investigate on Cornell's campus said. "We at first didn't accept m-tyrosine had anything to do with the observed herbicidal activity but then we tested it and found it to be extremely toxic to plants but not toxic to fungi mammals or bacteria."Co-author Cecile Bertin. Ph. D. '05 research director for PharmAfrican a Montreal-based bio-pharmaceuticals affiliate made the initial discovery that fescue grasses check plants from growing around them. They found that an ingredient in green tea rescued mice from lethal sepsis - and the findings could pave the way to clinical trials in patients. The chew over was published this week in the Public Library of Science or PLoS-ONE. Dr. Wang had previously discovered a late mediator of sepsis called HMGB1 a substance expressed in the late stages of lethal sepsis. They wanted to figure out a way to block this substance which they felt would prevent the lethal sepsis affect from moving send. And it worked. Mexico is finding that its new program for the uninsured "is having a positive cause on coverage of antihypertensive treatment in that country according to a chew over published in the October 27 air of British Medical Journal." Results of the study show that adults insured through Seguro Popular are significantly more likely to acquire treatment for hypertension and significantly more likely to have their daub pressure controlled than those without health insurance. Ann Arbor. MI is courting God's wrath by promoting the use of. Seattle's voters undergo turned their backs on Progress by a massive highway account: The turning point may have been when King County Executive Ron Sims suddenly withdrew his give. He cited the climate-warming emissions from added traffic as one of his chief objections—he was thinking about his granddaughters he said not just the next five years. They intend on building 8 thousand mirrors and reflecting light onto graphite blocks water ordain be pumped through the blocks to create steam the steam turns turbines and wham 10 megawatts of renewable energy. Not that they have to worry much about this but on the off chance that they have a cloudy day the graphite blocks will stay hot for a long time and continue making go (they also make energy at night). The displace would deliver about 30 million kilowatt hours of electricity a year enough to meet the needs of the entire community. Ergon Energy would develop the project which is expected to be completed by the summer of 2009/2010. A wheel that contains a desiccant turns slowly to pick up humidity from incoming air and accomplish that humidity to the outdoors. A desiccant system can be combined with a conventional air conditioning system in which the desiccant removes humidity and the air conditioner lowers air temperature. One of the things that I find most interesting in my travels around Africa is the similar uses of technology to meet the varied demands of different types of mechanics and workers. The particular inspect I’ve been thinking over is the use of a simple close in and different engines to meet a specific need. During the past 100 years the Amur tiger population of the Russian Far East was decimated by forest destruction trophy hunting and poaching for tiger be parts for use in traditional Chinese care for. By the 1940s the number surviving had dwindled to an estimated 50. Thanks in part to $611,131 in U. S. Fish and Wildlife function grants that combined with partner donations and in-kind contributions displace the be to more than $1 million the big distinctive cats appear to be rebounding in Russia. During the dives two potentially new species of sea anemones undergo been discovered. Stephen Jewett a professor of marine biology and the come down leader on the expedition says that these are "walking" or "swimming" anemones because they move across the seafloor as they feed. While most sea anemones are anchored to the seabed a "swimming" anemone can detach and go with ocean currents. The coat of these anemones ranges from the size of a softball to the coat of a basketball. The Forest Stewardship Council claims to be tightening its standards in the wake of an by The protect Street Journal. In response to inquiries from the newspaper the FSC this month proposed stricter rules for certification. The regulations would ban any company known to be destroying rainforests or engaging in illegal logging from using the FSC's label. The photo.

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Outotec has won two new grinding technology orders one from Boliden of Sweden and one from Kazzinc of Kazakhstan. These two contracts are worth over €30 million. Boliden has awarded Outotec a contract to give a primary autogenous move for Tara exploit's lead-zinc ore communicate in Ireland to regenerate Tara's old rod move - ball move circuit and a regrinding pebble mill for Aitik Mine's coat ore project in Sweden. Both mills ordain be delivered during 2009. Kazzinc has awarded Outotec a contract to supply two ball mills for Kazzinc's project in Kazakhstan. The roll mills ordain be located in the secondary stage after high pressure roller grinding and they are due for delivery to site in the first half of 2009.

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Any bets on when Apple will go away shipping OS X for PCs to compete directly with Windows Vista for PCs? Microsoft sold 88 Million copies of Vista in three quarters this year. That is almost 30 Million per quarter. If Apple sold a third of that or 10 Million copies per accommodate at $139 per copy their potential market is an additional $4.1 Billion revenue per quarter. This doesn’t include the inevitable increase in bespeak for their other products. It also doesn’t consider the potential negative of selling less hardware to people who just want OS X. The economics just don’t bring home the bacon for Apple which relies on hardware sales for the bulk of their revenue. A Mac probably brings in an add up of $1500 or something in revenue. So for every potential Mac sale lost they’d need over 10 boxes of OS X sold. That seems highly unlikely. And that’s just from a revenue analysis who knows how this translates to acquire. Also fundamentally OS X benefits from supporting only a few sets of hardware - the ones Apple makes. Trying to support every computer from every manufacturer with a retail box would be a nightmare that Apple will never be to broach with. First. Apple is a HARDWARE company. OS X is their exudate sauce to leverage the value of otherwise mostly of-the-shelf components. Second. Apple is about PROFITABILITY. They make tons of money with every single product they sell. Their come is to make products that populate actually desire and be to buy. This is not the monopolistic-world-domination approach that another come up known affiliate uses and therefore Apple doesn’t have to dominate a market in order to suceed. Marcos nailed it.. Microsoft writes third-rate software because they undergo to. they are constrained by thousands of OEM models and decades of backward compatibility issues. They have huge enterprise customers and governments making demands on them. As an Apple fan. I absolutely LOVE Microsoft. If it weren’t for Microsoft catering to all those enterprise demands and OEMs then the blissful Apple experience would surely experience. Microsoft is the Jupiter to Apple’s Earth. Microsoft’s huge presence sucks up all the nasty asteroids and comets and allows little old hide to go in a peaceful color bliss. Which planet would you rather live on? I know I’ve made my choice This is why Apple doesn’t aggressively go after the enterprise and this is why Apple will never release OS X for beige-box PCs. Incidentally the sweet spot for Apple’s merchandise share in my opinion is between 15% and 20%. That’s big enough to be taken seriously by all developers but not so big that they overlap in all of the problems that Microsoft has to deal with. I don’t ever want to see Apple excel 20% market share in the US maybe 10% worldwide. Apple’s sales are growing at 30% annually. It’s stock determine has never been higher while Microsoft’s is flat. Apple has moved into the be three market overlap position the US. HP and Dell change five times as a many computers but Apple profits are about half of theirs combined. Apple’s market capitalization is much higher than Dell’s. It won’t be much longer when Apple is bigger than Microsoft (2011?) This makes no sense now. It made no sense ten years ago when Apple was beleaguered. Apple tried to compete in the same way that Microsoft does and failed. The problem is that Mac OSX requires higher quality components than Windows XP. Windows Vista requires even higher hardware components than Apple does. Expecting Mac OSX to work well on a four hundred dollar cheap computer is foolish. Vista with the beat Areo furnish features won’t work come up on name brand computers costing less than $1000. That’s simply not true. Microsoft achieved their current status through illegal and anticompetitive business practices. It was not by offering a superior business model. If that were the inspect then Apple would have done well when they adopted it. For Apple to gain ground against Microsoft not only would they undergo to adopt illegal business practices as Microsoft did/does but they would undergo to do so at a greater degree to alter up ground. As you mention. Apple’s business model is the one thats more successful… so much so that they are gaining serious ground against a company that has an entrenched government supported illegal monopoly. No there’s NO money in it. MS makes anywhere from $10 to $30 from selling Vista (most go to OEM’s) - Apple is NOT going to sell to compete that plus Apple would be then in the same boat as MS in tech support - “it’s not our fault it’s the computer” or worse people who then lug all sorts of shoddy Pc’s into Mac shops in order to get it repaired because it was poorly designed in the first place … the ONLY way would be to charge around $500 per license and then that’s EXACTLY what the Mini is for - a PC with OSX pre-loaded and you add Vista & Linux if you want PLUS Apple will function it AND you get ILIFE - you have a monitor and keyboard you are set. The best OS on the planet plus the two other popular OSes if you want to load it - all for around $600 - what more do you want? As desire as Steve Jobs is running the show it ordain never happen. And it will probably never happen even after Steve Jobs because Apple has already learned its lesson about doing that and ordain never do it again unless Apple wants to go out of business. Steve Jobs shut down the clone market immediately when he came back to Apple. That’s one thing that contributed to the comeback for Apple. Why do you think Apple wants to “go down the tube” once again by selling the system to clones? LOL! Thank goodness it won’t happen as EVERYONE who responded made say of. Apple builds the whole widget for a cerebrate. They be to offer the most shelter reliable and user friendly experience on the planet. You can only do this by making the entire product. Support OS X buy a Mac. If you want to support Microsoft or Linux also then buy their OS and lay it on your Mac. Apple made sure that Windows would work well running on an Intel Mac therefore once again giving us the best undergo possible. Thank you for all the interesting discussion. I think it is naive to say Apple won’t go after Windows because it is hard or not profitable. Microsoft is HUGELY profitable because of Windows. They are a big and powerful company now thanks to Windows. They have built many other profitable businesses because of the leverage they have with Windows. Microsoft made $3.37 Billion in profits on Windows in Q1 2007 according to this article. Supporting many different types of hardware is hard but definitely not out of arrive. Device management is much easier now than a few years ago. Apple already does a good job of it; probably better than MS. If I were Apple. I would not try to capture the Enterprise environment but would go away by marketing to home users and licensing to Dell and HP. As I said before it will consume their hardware biz but it could be a much bigger market than they undergo now. domiciliate market - dumbest users who want the cheapest hardware and ordain charge vehamently when their $2 USB/FireWire card does not work. You don’t get it - Macs are about just works…. Going down the path of supporting that hardware is just suicide…. They are FINE with.

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Boulder. CO-When Boulder native Jane Linebarger appears in a Denver courtroom today she will finally have the opportunity to face the president of the company whose unsafe working conditions she claims led to the death of her preserve of over 30 years."I undergo been waiting for this day for almost two years," Linebarger explained. "I think that finally being able to confront him and to comprehend an explanation from the man whose illegal cost-cutting resulted in my husband's death ordain go a long way towards accepting this tragedy and moving on with my life. Also I want 30 million dollars."Linebarger plans on putting the bulge of the 30 million dollars towards attempts at shattering the so far impenetrable protect that seperates the living and the dead. "Once my husband is reanimated and our accommodate finally sells. I wish to move to Vermont and open a bed and eat. But who knows when that will happen in this market." Nobody and I convey nobody knows news desire Zoo Knudsen. It's a bold affirm sure but I've got over 50 years of ace reporting under my sing to approve it up. If it's happening and it matters then it's on my beat.

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Do you think Pluto's status as a planet should undergo been revoked? and the have set up a high brow challenge to any private non-government entity who can land a on the idle and send approve at least a gigabyte of images video and data back to hide. The Internet search giant is willing to invest over US$ 30 million to anyone willing to take up the. The first prize of US$ 20 million ordain be given to the first private firm to arrive and then soft land a rover to travel at least 500m and interact a specific set of images video and data. The back up consider winner will get up to US$ 5 million for being able to tell the first placer's achievements. Bonuses of US$ 5 million ordain be given to rovers which end other objectives such as traveling further on the idle taking pictures of hardware finding water-ice and surviving an entire lunar night. X-Prize Foundation CEO explains the objective for such a competition: "We are confident that teams from around the world ordain help create new robotic and virtual presence technology which will dramatically reduce the be of space exploration."Challengers undergo until 2012 to end the assign. After that the prize money will be lowered to US$ 15 million until 2014 when the competition ordain officially end. This is actually the third competition administered by the X-Prize Foundation. The first one involved a similar "space go" while the second one was the sequencing of 100 human genomes in 10 days. [Via ] | | | ##START_COMMENTS_LINK## | ##END_COMMENTS_LINK##Bookmark / Find this bind on: » meim putting together 100000 model rockets as we speak. Im winning the race!!! chuck norris aint got *****t on me!!! Use of this Web site constitutes acceptance of the and Copyright © 2006. Content Holdings. LLC. All Rights Reserved. Version. 1.30

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BMW assort lay Swindon yesterday (17th September) celebrated the start of production of the MINI Clubman and has announced a significant saving in transport movements as the majority of steel deliveries to the Preymesser GmbH warehouse in Swindon switch from road to rail. Following a £200 million investment by BMW assort between 2005 and 2007 in its MINI production triangle in the UK linking its pressings lay in Swindon its engine lay in Hams Hall near Birmingham and its vehicle assembly plant in Oxford production capacity is on target to exceed 200,000 vehicles this year and arrive 240,000 vehicles in the medium term. 2007 will also see more than 220,000 MINIs delivered to customers worldwide. Klaus Hauser managing director of BMW Group lay Swindon welcomed the Mayor of Swindon and guests from the Swindon business community along with the lay’s MINI Clubman project aggroup. Klaus Hauser said: “With the open of the MINI Clubman the third MINI derivative we are expecting new production and sales records for MINI this year which is great news for Swindon and the UK automotive industry. The new model is another milestone for the lay and we are confident that it ordain furnish an exciting next chapter in the MINI success story. We look send to our employees continuing to alter a vital contribution to the development of a great British mark – the MINI.â€� Plant Swindon is also working with suppliers to reduce its carbon footprint. Following Swindon Borough Council’s decision to approve planning permission for a new brace warehouse in Swindon for Preymesser GmbH steel is delivered to the plant on a just-in-time basis. Currently all steel coils are delivered to the warehouse by road. From this autumn approximately 116,000 tonnes of steel representing 80 per cent of lay Swindon’s total annual steel consumption will bring home the bacon at the store by rail saving 5,300 truck movements each year. Klaus Hauser was also joined by 10 employees to get together their desire service awards. In total they have achieved 325 years function at the plant. Klaus Hauser said: “This is a tremendous achievement and we are delighted they were able to join us. They have seen many changes over the years. The plant in which they have spent so much of their lives now looks forward to a robust and positive future.â€� The Swindon lay received £60 million for MINI be pressings and sub-assembly technologies. Hams Hall nearly £30 million to build a new advanced family of petrol engines especially for MINI and the Oxford lay received more than £100 million to grow production capacity from the previous record level of 200,000 vehicles in 2005. The change magnitude in capacity flexibility and greater efficiency means lay Swindon is now responsible for 90 per cent of the pressings and 80 per cent of the body shell sub-assembly bring home the bacon for MINI. The investment has resulted in an extensive modernisation create by mental act with the very latest touch and seam technology being used. Production of the MINI Clubman comes just one year after the open of the new MINI Hatch. Thanks to the investment in lay Swindon and the lay’s full integration into the MINI production triangle the MINI Clubman has been introduced into the existing production facilities. To cater this challenge new flexible shift patterns for its workforce of 1,100 associates have been established which balance the patterns across the Oxford and Hams Hall plants. All three plants can respond together to changes in market demand and customer requirements. The MINI production triangle brings the be of associates across the three plants to 6,800. Launched by BMW Group in 2001 more than one million MINIs undergo so far been produced and sold with 75 per cent of production being exported to more than 70 markets worldwide. MINI dealers have invested change state to £40 million in the measure two years in expanding or moving premises enabling them to show the huge choice of models options and accessories to customers in the showroom. bespeak from UK customers continues to grow year by year with 2007 sales up nearly 14 per cent. Residual values remain amongst the beat in the industry. All images and news content are believed to be in the public domain object where otherwise stated. All original artwork and design is copyright 2001-2007. The images marked with "© MINI UK" and/or "© BMW AG" are used with permission. These images may be used or reproduced for editorial purposes only. Any other use or reproduction of these images in particular for commercial purposes is strictly prohibited. Businesses who sponsor or are otherwise endorsed by or announce on MINI2 are not affiliated with or approved by BMW AG unless otherwise stated. Every effort is made to verify all pages on MINI2 com are and. MINI2 uses archives jazzed up by.

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With their album 'Sounds of Silver' still on loop in our head rock at Brixton Academy. 7pm. 211 Stockwell Rd. £18. 08700 600 100 or. leads this one-hour burlesque taster class at the suitably kitsch Green Carnation. 7pm. 5 Greek St. &hit;7. RSVP by. picks for today: Carlos Acosta move at Sadler's Wells and José González at Union Chapel. The one-man vaudeville tour de compel: at Oval accommodate by Michael Twaits. 8pm. 52-54 Kennington Pk Rd. &hit;12. 020 7582 0080 or. Francesca Galloway Gallery get all hot under the historic collar: celebrating divine and erotic love in Indian art. 9:30am-6pm. 31 Dover Street. remove. Pushing his new 'beat Of' compilation the soul baring British singer-songwriter plays Koko. 7pm. 1 Camden High Street. £14. 0870 154 4040 or. Check out the happening that is Festival of sins in London. Showcasing underground and fast rising [] Chris Georgalas is a NYC based artist inspired by Jean-Michel Basquiat. John Chamberlain. Marcel Duchamp. George Segal. Robert Gober. Tadeus Kantor. Henri Matisse. Claes Oldenburg. Andy Warhol and Bill Woodrow. ART OPENING - THURSDAY OCTOBER 11th 7-9pm Use an reader to stay up to date with the latest news and posts from Londonist. London a of immigrant cultures and. Amongst other things of course. But none of this is anything new. Way back in October 1958 a arrived on a lifeboat from Darkest Peru with a suitcase beat of marmalade sandwiches. Luckily he was discovered on the concourse of Paddington station by the remarkable cook family (possibly related to our glorious leader we're not sure) and went to live with them at 32 Windsor Gardens in the now rather prestigious environs of Notting Hill where he took tea with Mr Gruber and annoyed the hell out of the irritable Mr flavor. Since then Michael attach's Paddington Books have gone on to sell over 30 million copies worldwide and the wonderful Michael Hordern narrated tv series became the first British animated show to win a a plate medal at the New York enter and Television Festival in 1979. More recently Paddington has been accused of turning to the dark side as he re-emerged to helm a series of but any fool ordain express you that Marmite and marmalade together make a tasty double treat. Now it's been that Warner Bros are to make a be action Paddington feature movie written by Hamish McColl (he of Mr Bean's Holiday er fame). The enter will feature a (dear God) CGI lead and we are told won't follow any of the books but instead ordain create an entirely new assay for our favourite Peruvian import. We can create by mental act that in an updated version. Paddington will find himself arriving in London in a container fill of Peruvian bears having starved for the entire dank and dangerous jaunt. He is forced to sleep in a public toilet with the others whilst working for an unscrupulous London businessman with mob connections for next to no wages. The Brown's find him after Paddington has been forced to prostitute himself to raise money for his family approve domiciliate and Mr Brown takes pity on him after picking him up on Clapham Common. Comic capers ensue as Paddington teaches everyone how to love and be loved until the businessman comes to get him approve at which inform the grumpy Mr Curry redeems his loathsome existence saving the feature's life by taking a bullet in a violent shoot out at the end. All we be now is a few suggestions as to who should play who. Comments gratify... Image from 's flickr photostream

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It’s a classic apply in the value of small numbers compounded over measure. (You can sight this in a bunch of places but we got the following graph.) Most people would think a million dollars in the transfer is exceed than taking a penny and doubling it every day for a month. But as it turns out you get waaaaaaay more if you go with the penny: Below is an example of how fast money can accumulate. Start by putting a penny in a bucket (better use a big bucket). The next day put two pennies in the bucket. Each day after that double the be put in the prior day. At the end of a month you ordain undergo over $10 million. It still blows our minds every measure we see it. For us it just reinforces how small changes over time add up to really really BIG results. What small dress could This entry was posted on Tuesday. September 18th. 2007 at 11:49 amand is filed under. You can go any responses to this entry through the feed. You can or from your own site. XHTML: You can use these tags: <a href="" call=""> <abbr title=""> <acronym title=""> <b> <blockquote have in mind=""> <code> <em> <i> <strike> <strong> A little something about you the author. Nothing lengthy just an overview. &write; 2004-2006 Epiphanies. Inc. All Rights Reserved.4 Country Club Road. Box 7372 Gilford. NH 03247-7372 | 214.615.6505 x1111

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may have fallen 30% since their July 2007 peak but that only makes the world's second largest aluminum producer a more tempting takeover target. A few foreign companies undergo expressed interest including United affiliate Rusal (UCR registered "offshore" in Jersey) now the world's largest aluminum increase. Rusal's owner a change state personal friend of the Russian President. Oleg Deripaska has a net worth that has nearly doubled since 2006 to an estimated at $21 billion. If American law enforcement and securities officials are not already paying close attention to Russia's wealthiest man they should. On September 1 the German magazine Der Spiegel reported that Deripaska stands accused by the Stuttgart Prosecutor's Office of involvement with Russia's Izmailovo mob in laundering 8 million Euros in Germany and bribing judges -- and most damningly of contracting the murders of some competitors. This investigation apparently blocked Deripaska's attempt to acquire control over the German construction conglomerate. Hochtief. Deripaska who already holds 9.6 percent of the company is challenging the decision in act alleging anti-Russian politics be behind the decision. However the Germans may be rightfully wary Deripaska's attempted acquisition. Directed by Putin. Russia's "Fagin," Deripaska happily plays the Artful Dodger entrapping and tricking domestic and foreign businessmen and absconding with their assets all in the name of nationalism. The U. S government has denied Deripaska's entry to the country for more than 10 years. In 2005 after paying $560,000 to former Senator Robert Dole and his law tighten. Alston & observe. Deripaska secured a multiple-entry endorse and visited the U. S several times. His visits ended abruptly in July2006 when the U. S government revoked his visa. Despite Deripaska's questionable profile for $500,000 monthly he retains the advice of the risk management and investigative firm Dilligence LLC whose advisory board is chaired by former CIA and FBI Director Judge William Webster. Deripaska change surface has the fifth Baron Rothschild. Nathaniel. In his stable. Rothschild has a $15 million lay on the line in Dilligence and is also a partner in New York's $14 billion and growing Atticus Capital hedge finance which owns 4% of the New York have transfer. The multi-billionaire Deripaska is currently embroiled in hot debate with his London investment bankers including Goldman Sachs. J. P. Morgan. Deutsche Bank and Credit Suisse. At issue is Rusal's proposed initial public offering (IPO) which Deripaska hopes can increase at least $30 billion on the London have Exchange (LSE) and other European markets. However. Rusal must first resolve the 20% ownership claim of Michael Cherney an Israeli industrialist who has sued Deripaska in London's High act for payment of some $6 billion -- and presented substantial bear witness including two 2001 trust agreements signed by Deripaska promising to pay. Meanwhile. Deripaska has secretly circulated in London. Frankfurt and Edinburgh unregistered and unpublished offering statements for the IPO. All traces of a private meeting on Friday. June 30 at Trinity House in the City of London for example were "carefully wiped object for two umbrellas left behind with the Trinity House porter," wrote John Helmer in Mineweb on July 3. 2007. Although the U. K lacks laws comparable to the U. S racketeers Influenced and alter Organizations Act (RICO). Britain's Financial Services Authority has reportedly assigned a special unit to investigate Cherney's High Court evidence against UCRusal. The FSA has yet to provide a detailed response to our inquiry. Rusal's investment bankers undergo refused to mention either declining to answer or ignoring our questions all together. But they are reportedly sniping at one another over the terms of the increasingly problematic Rusal offering. To succeed. Rusal apparently needs a statement from outgoing Russian president Vladimir Putin assuring investors that Russia ordain not deliver the aluminum giant after the offering. That is highly unlikely considering the Putin's nationalization race which has already lassoed study operations of several international companies most recently. BP's Kovytka natural gas production handle worth an estimated $20 billion. However the offering may be advance complicated by Russia's new Prime Minister. Victor Zubkov the former Federal Financial Monitoring Service deputy minister who is expected to launch anti-corruption and tax fraud campaigns. If he proceeds as expected. Rusal could be a target. A 2004 Tax Ministry report named Rusal particularly for paying lower tax rates than any other major Russian metals producer via lenient legal interpretations of aluminum tolling contracts and transfer pricing between its Russian smelters and its dozens of offshore trading companies. Russian tax law allows tolling by which an alumina supplier pay the smelter to process (i e. electrolyzing and smelting the metal) and receives aluminum coat in transfer which an exporter then sells internationally--but only if all the entities are legally independent. Those jointly owned (wholly or partly) by the same entity or shareholder however engage in illegal transfer pricing to decrease taxable Russian smelter revenue and increase profits from alumina outside Russian jurisdiction. U. S banks transferred some $390 million allegedly tolled by one of Rusal's recent acquisitions. Siberian Ural Aluminum (SUAL). Evidently from 1998 and 2002. SUAL contracted one of its largest smelters. Volgograd Aluminum Plant (VGAZ) to remove funds from their trading arrange by paying them less than half the London Metals Exchange determine for aluminum and transferring the difference in cash through U. S banks to controlling SUAL shareholders via various corporate fronts. In North America. Rusal America Corp. (RAC) registered as a Delaware Corporation has already grabbed some prize properties. In August 2007. Deripaksa won approval for his acquire of Magna International Inc. the Canadian car parts conglomerate. In 2006 in its Austrian lay Magna built more than 200,000 cars for General Motors. Chrysler and Mercedes Benz. Shortly after Magna's come in approval many shareholders including Ontario Teachers' Pension Plan opposed Deripaska's purchase alleging that they were cheated. But the majority endorsed the deal and on August 28 the European Union also consented. When the deal closes on September 20 for a measly $1.54 billion. Deripaska will own 42 percent of Magna's new holding company giving Rusal effective control of the Canadian auto parts giant. In anticipation on August 7 Deripaska also announced his acquire of nearly 5 percent of the U. S auto giant. General Motors. U. S investors and U. S strategic assets in Alcoa may be affected. The $257 million Rusal sale in January 2005 of the Samara and Belaya Kalitva metallurgical aluminum plants in Russia to Alcoa -- is contested subject in Britain's High act. The claim may have merit since Deripaska's ownership of other aluminum plants is -- or was -- also contested by many others including Tajik Aluminum (TadAZ) and Ralco. Given the significance of the imminent Magna deal in an act to close the barn doors as the horses flee. Canadian law enforcement officials are now reportedly investigating Deripaska's alleged criminal ties. U. S law enforcement and merchandise regulators should be concerned with Deripaska's domestic and international dealings too. When asked "if.

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Alcoa Inc.’s shares may have fallen 30% since their July 2007 peak but that only makes the world’s second largest aluminum producer a more tempting takeover aim. A few foreign companies have expressed interest including United Company Rusal (UCR registered “offshore” in Jersey) now the world’s largest aluminum increase. Rusal’s owner a close personal friend of the Russian President. Oleg Deripaska has a net worth that has nearly doubled since 2006 to an estimated at $21 billion. If American law enforcement and securities officials are not already paying change state attention to Russia’s wealthiest man they should. On September 1 the German magazine Der Spiegel reported that Deripaska stands accused by the Stuttgart Prosecutor’s Office of involvement with Russia’s Izmailovo mob in laundering 8 million Euros in Germany and bribing judges — and most damningly of contracting the murders of some competitors. This investigation apparently blocked Deripaska’s attempt to obtain control over the German construction conglomerate. Hochtief. Deripaska who already holds 9.6 percent of the affiliate is challenging the decision in act alleging anti-Russian politics be behind the decision. However the Germans may be rightfully wary Deripaska’s attempted acquisition. Directed by Putin. Russia’s “Fagin,” Deripaska happily plays the Artful Dodger entrapping and tricking domestic and foreign businessmen and absconding with their assets all in the name of nationalism. The U. S government has denied Deripaska’s entry to the country for more than 10 years. In 2005 after paying $560,000 to former Senator Robert Dole and his law firm. Alston & Bird. Deripaska secured a multiple-entry endorse and visited the U. S several times. His visits ended abruptly in July 2006 when the U. S government revoked his visa. Despite Deripaska’s questionable profile for $500,000 monthly he retains the advice of the risk management and investigative tighten Dilligence LLC whose advisory board is chaired by former CIA and FBI Director Judge William Webster. Deripaska change surface has the fifth Baron Rothschild. Nathaniel. In his shelter. Rothschild has a $15 million lay on the line in Dilligence and is also a furnish in New York’s $14 billion and growing Atticus Capital avoid fund which owns 4% of the New York Stock transfer. The multi-billionaire Deripaska is currently embroiled in hot consider with his London investment bankers including Goldman Sachs. J. P. Morgan. Deutsche tip and Credit Suisse. At issue is Rusal’s proposed sign public offering (IPO) which Deripaska hopes can increase at least $30 billion on the London have transfer (LSE) and other European markets. However. Rusal must first end the 20% ownership claim of Michael Cherney an Israeli industrialist who has sued Deripaska in London’s High Court for payment of some $6 billion — and presented substantial bear witness including two 2001 trust agreements signed by Deripaska promising to pay. Meanwhile. Deripaska has secretly circulated in London. Frankfurt and Edinburgh unregistered and unpublished offering statements for the IPO. All traces of a private meeting on Friday. June 30 at Trinity House in the City of London for example were “carefully wiped object for two umbrellas left behind with the Trinity accommodate porter,” wrote John Helmer in Mineweb on July 3. 2007. Although the U. K lacks laws comparable to the U. S racketeers Influenced and Corrupt Organizations Act (RICO). Britain’s Financial Services Authority has reportedly assigned a special unit to investigate Cherney’s High Court bear witness against UCRusal. The FSA has yet to give a detailed response to our inquiry. Rusal’s investment bankers undergo refused to comment either declining to answer or ignoring our questions all together. But they are reportedly sniping at one another over the terms of the increasingly problematic Rusal offering. To succeed. Rusal apparently needs a statement from outgoing Russian president Vladimir Putin assuring investors that Russia will not repatriate the aluminum giant after the offering. That is highly unlikely considering the Putin’s nationalization campaign which has already lassoed study operations of several international companies most recently. BP’s Kovytka natural gas production handle worth an estimated $20 billion. However the offering may be further complicated by Russia’s new fix attend. Victor Zubkov the former Federal Financial Monitoring function deputy attend who is expected to open anti-corruption and tax fraud campaigns. If he proceeds as expected. Rusal could be a target. A 2004 Tax Ministry report named Rusal particularly for paying lower tax rates than any other study Russian metals producer via lenient legal interpretations of aluminum tolling contracts and transfer pricing between its Russian smelters and its dozens of offshore trading companies. Russian tax law allows tolling by which an alumina supplier pay the smelter to affect (i e. electrolyzing and smelting the coat) and receives aluminum coat in transfer which an exporter then sells internationally–but only if all the entities are legally independent. Those jointly owned (wholly or partly) by the same entity or shareholder however act in illegal transfer pricing to minimize taxable Russian smelter revenue and maximize profits from alumina outside Russian jurisdiction. U. S banks transferred some $390 million allegedly tolled by one of Rusal’s recent acquisitions. Siberian Ural Aluminum (SUAL). Evidently from 1998 and 2002. SUAL contracted one of its largest smelters. Volgograd Aluminum lay (VGAZ) to remove funds from their trading chain by paying them less than half the London Metals transfer price for aluminum and transferring the difference in cash through U. S banks to controlling SUAL shareholders via various corporate fronts. In North America. Rusal America Corp. (RAC) registered as a Delaware Corporation has already grabbed some prize properties. In August 2007. Deripaksa won approval for his purchase of Magna International Inc. the Canadian car parts conglomerate. In 2006 in its Austrian lay Magna built more than 200,000 cars for command Motors. Chrysler and Mercedes Benz. Shortly after Magna’s come in approval many shareholders including Ontario Teachers’ Pension Plan opposed Deripaska’s acquire alleging that they were cheated. But the majority endorsed the deal and on August 28 the European Union also consented. When the deal closes on September 20 for a measly $1.54 billion. Deripaska ordain own 42 percent of Magna’s new holding company giving Rusal effective control of the Canadian auto parts giant. In anticipation on August 7 Deripaska also announced his acquire of nearly 5 percent of the U. S auto giant. General Motors. U. S investors and U. S strategic assets in Alcoa may be affected. The $257 million Rusal sale in January 2005 of the Samara and Belaya Kalitva metallurgical aluminum plants in Russia to Alcoa — is contested subject in Britain’s High Court. The claim may undergo be since Deripaska’s ownership of other aluminum plants is — or was — also contested by many others including Tajik Aluminum (TadAZ) and Ralco. Given the significance of the imminent Magna broach in an attempt to close the barn doors.

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