Guest Post: Why Europe Should Pay Attention To Algeria
Submitted by Tyler Durden on 01/26/2011 18:01 -0500
Tunisia’s uprising has democracy watchers wondering if the instability will spill over into neighboring North African countries, but really that instability is already there. In the first week of the year, Algeria experienced violent protests after the government hiked prices for staple foods like milk, sugar, oil, and flour. Some 800 people were injured in several days of rioting, prompting President Abdelaziz Bouteflika to cut costs on some foods and lower import duties on others. The rioters went home, but odds are they will return to the streets when prices rise again. But Algeria is not poor – an OPEC member, it is the ninth largest crude oil producer in the world. More importantly for this conversation, Algeria is the world’s sixth largest natural gas producer, pumping out just over 3 trillion cubic feet (Tcf) of natural gas in 2008. At the beginning of 2010, the country’s proven natural gas reserves stood at 159 Tcf, the tenth largest in the world, and notably, Algeria exports some 3.6 billion cubic feet (Bcf) of natural gas each day to Europe. On top of the natural gas flowing to Europe through pipes, Algeria has become a key supplier of liquefied natural gas, or LNG. In 2008, Algeria exported 711 Bcf of LNG, and 90% of it went to Europe.
on Wed, 01/26/2011 - 18:46
DEAR JOURNALISTS OF THE WORLD,
You were intrigued by us when we took on the financial sector by attacking Visa, Mastercard, and Paypal as part of Operation Payback. Many of you became enamoured with us during Operation Tunisia and applauded our efforts. Some of you are now paying close attention to Operation Algeria. We know that we have gained support from even a few of you. Those few are hoping against hope that our unconventional methods will continue to have an effect on people, perhaps even the world. Those few admire us, if for no other reason than the fact that, in a world full of apathy, a world filled with people who don't even bother to read the information you painstakingly present, we are trying to do something. This intrigues you. At the very least, it inspires you to keep an eye on us, hoping we continue to take newsworthy actions.
You know that, whether you are risking your own safety - perhaps even your own life - to share the truth, or whether you are beholden to your dictators or your advertisers, unable to write anything they do not approve, we, Anonymous, are on your side and are fighting for you and your freedoms. You, the journalists, reporters, and bloggers. You, the newspapers, television networks and websites who hunt down and disseminate information. We are fighting for you.
Some of you have recorded milestones of our efforts. Some of you have reported upon them, and some of you have even participated in our fight. You are the press, and you have our gratitude.
We need your help now. From North Africa to Gaza, people are rising up and risking their lives to demand nothing more than basic rights, an end to the corruption, and a fair chance to progress in life. What the Western world is unaware of, and the Western media largely ignores, is the fact that the people protesting and the people dying in the Arab world are just like them. They have the same desire for basic freedoms, similar ambitions for themselves and for their family and friends, the same inherent intelligence and, the same keen sense of injustice as their counterparts in the West when oppressed.
Here is where we need your help. We ask you, the journalists, to bring to the rest of the world the humanity of these revolutions. What we are witnessing are not extremist acts that are committed by misled, ignorant people. Indeed, they are committed by intelligent, but desperate people - people willing to sacrifice themselves in order to inspire their fellow citizens to rally against their oppressors. The world needs human news. The world needs to know who it is that needs their support, and not just the number of casualties or the politics involved.
What we ask is simple. There are people protesting in Algeria, Egypt, Yemen, Albania, Libya, and many other countries at this very moment. Tell us who they are and what it is they want for their country and their people, for now and in the future. So many voices are raised in protest right now and all the world can hear is the noise. Tell us what the people are saying.
Some of you will ignore this message. It announces no new operations, as we are still focusing our efforts on Operation Algeria. This message issues no threats, as you are the press and are always safe from us. If you heed our request, however, it could make all the difference in the world, as it made a difference for the Tunisians to know that they were speaking and the world was hearing their message. Help us do this for Algeria, Egypt, and other countries where the people are imploring to be heard.
We are Anonymous.
We do not forgive the denial of basic human rights.
We do not forget those who assist the oppressed.
To the Tyrannical governments of the world... Expect us.
on Wed, 01/26/2011 - 20:30
I work with a guy from Algeria and I know he's been watching Tunisia with interest.
He assured me that the first to go will be the police then on to the houses of government. He said the average Algerian doesn't necessariy want the consumer culture of America and Europe but they do want the freedom and the only thing stopping them from taking it is a full belly.
FCIC Finds Majority Of Revenues In Goldman's Most Profitable FICC Division Came From Derivatives
Submitted by Tyler Durden on 01/26/2011 23:21 -0500
Frequent readers know that when it comes to Goldman Sachs, Zero Hedge has consistently claimed two things: i) that in the peak bubble days, the firm regularly commingled flow and prop traders on its trading floor(s), thereby allowing prop traders to either front run the firm's flow accounts, or trade alongside them in real time; and ii) that when it comes to OTC derivative trading, Goldman Sachs is the de facto Wall Street monopoly, a status made even more acute following the annihilation of Bear and Lehman, thereby cementing the firm's undisputed role as primary fixed income/OTC derivative market maker. Whereas yesterday we received indirect confirmation of the former, when we learned that Merrill was slapped on the hand with a token $10 million fine for doing precisely what we alleged, and which we are certain will soon be reconfirmed transpired at all other major banks in the 2003-2007 period, Goldman most certainly, and probably profitably, included, tomorrow it will be made clear that Goldman was an effective monopolist within the derivative space, with a bulk of its revenues in its highest margin, FICC group, coming from derivatives. When tomorrow the FCIC releases its long-awaited 545-page report exposing a tiny fraction of the criminality on Wall Street, we will discover that "Derivatives accounted for 70 percent to 75 percent of revenue in the firm’s commodities business from 2006 to 2009, and “half or more” of revenue from interest rates and currencies, the firm estimated, according to a report by the Financial Crisis Inquiry Commission. From May 2007 to November 2008, about 86 percent of $155 billion in trades made by the firm’s mortgage business involved derivatives, the FCIC said."
on Thu, 01/27/2011 - 00:34
'60 Minutes,' that hard-hitting journalistic gem?
The one that had Scott Pelley fail to ask a single, intelligent, educated hard question of Bernanke?
...something like "Mr. Bernanke, why are you buying treasuries from primary dealers like Goldman Sachs, and paying commissions of 60 billion per year to do so, when you could be buying them from the Treasury Department directly, at no commission? And is the ex-partner of Goldman Sachs, William Dudley, who is head of the New York Branch of the Federal Reserve, the right person to be making such decisions, given what appears to be a conflict of interest?"
Interactive Map Of Recent Food Riots And Price Hikes
Submitted by Tyler Durden on 01/26/2011 19:00 -0500
While the Fed refuses to extract its head from deep within the sand of ignorant hubris that only a career in Ivy League education can provide, the world continues to burn, in many places quite literally. For all those who are finding it hard to juggle all the rioting, and confuse their Cairos with their Calcuttas, below we present an interactive map disclosing all recent documented food price hikes, protests, and riots.
New Report Reveals Goldman Sachs Netted Billions Through Taxpayer Rescue
First Posted: 01/26/11 09:32 PM Updated: 01/26/11 10:23 PM
:kotzGoldman Sachs collected $2.9 billion from the American International Group as payout on a speculative trade it placed for the benefit of its own account, receiving the bulk of those funds after AIG received an enormous taxpayer rescue, according to the final report of an investigative panel appointed by Congress.
The fact that a significant slice of the proceeds secured by Goldman through the AIG bailout landed in its own account--as opposed to those of its clients or business partners-- has not been previously disclosed. These details about the workings of the controversial AIG bailout, which eventually swelled to $182 billion, are among the more eye-catching revelations in the report to be released Thursday by the bipartisan Financial Crisis Inquiry Commission.......
PhilipTaylor 4 minutes ago (4:34 AM)
WHY NOT LET THE "HAVES" HAVE MORE?“This is an impressive crowd: the Have's and Have-more'*s. Some people call you the elites. I call you my base.” George W. Bush quote
21 SECONDS OF S1CKENING TRUTH: http://www*.youtube.c*om/watch?v*=mn4daYJzy*ls :gomad
HUFFPOST COMMUNITY MODERATOR
dutchman 16 minutes ago (4:22 AM)
Question to you who are opposed to financial regulatory reform:
Which is more important? The right of companies to scr.ew their clients (and taxpayers) or the rights of client (and taxpayers) to not be scr.ewed?
I'm in favor of the latter.
Cipo 7 hours ago (9:52 PM)
He and his cohorts will be long, long gone well before that happens. Off to some little island that they bought from Greece when they had to sell off their land to pay for their debt that GS loaded on them. Or perhaps just cruising around the world on their yachts flanked by Blackwater security?
We can all wish for these vermin to be brought to justice (whatever that would look like), but the truth of the matter is that they are in charge of our current system from top to bottom, and they will know exactly when they need to exit that system.
textynn 7 hours ago (10:13 PM)
It's Not Raining, We're Getting Peed On
Here It Comes: US Suspends New Issuance Under Supplementary Financing Program, $200 Billion Liquidity Gusher Imminent
Submitted by Tyler Durden on 01/27/2011 09:08 -0500
Earlier this week we predicted that the US Treasury would wind down its SFP program, unleashing $200 billion in 56-day non-rollable "Fed bonds" on the market. We predicted this would occur by mid-February. As of a few minutes ago, the Treasury has just confirmed that starting February 3, this will be precisely the case. Per the Treasury, supplementary financing account to fall to USD 5bln, with the reason being the traditional explanation: decreasing funds in account as country nears debt ceiling. As the revised table below shows, each Thursday beginning February 3 we will now see an incremental $25 billion in extra liquidity as the maturing 56-Day CMB is not rolled.
on Thu, 01/27/2011 - 12:06
So in effect, when the Fed gets done, if ever, the PD's will own everything outright. Please, someone tell me I'm wrong...
BaNZai7 WeaTHeR WaTCH (DaVoS and EasT CoaST USA)
Submitted by williambanzai7 on 01/26/2011 23:55 -0500
....Stechschritt :rolleyes kommt mir irgendwie bekannt vor :bad
JPM To Save The Day
Submitted by Tyler Durden on 01/27/2011 12:29 -0500
When the market seems like it is about to roll over, who you gonna call? Why future Treasury Secretary Jamie Dimon of course... Courtesy of IOIA, we now know whose ETF desk has a sole purpose in life to hit the Chairchopper's Russell 2000 target of 36,000 before June, when it all goes to hell.
on Thu, 01/27/2011 - 12:34
1 million in 40 minutes.
60% of that in less than two minutes.
The market is rigged - any questions?
Small Explosion Reported At Davos Hotel
More Davos: Plight Of The 'Mistresses'.. JPMorgan Chief: Stop Bashing Bankers.. Tackling Inequality
Today 3:54 PM JPMorgan Chief's Temper Tantrum Jimon Dimon, the alternately lionized and criticized JPMorgan chief executive, is apparently fed up with the bad press.
When Fareed Zakaria asked him a question at a Davos panel, he lashed out. From Reuters:
"Not all banks are the same and I just think that this constant refrain 'bankers, bankers, bankers' is just unproductive and unfair. People should just stop doing that."At one point he was nearly shouting, according to the Wall Street Journal:
“J.P. Morgan bought Bear Stearns because the United States government asked us to!"-- William Alden
.....ach der arme Jamie :bad fühlt er sich auf den Schlips getreten :stinkefin
Morgens um neun gab es einen dumpfen Knall
Linksaktivisten haben am Morgen Feuerwerkskörper im Posthotel in Davos gezündet. Eine Gruppe von WEF-Gegnern sprach von einem «Anschlag» und übernahm die Verantwortung. Mehr...
Aktualisiert um 16:18 Uhr
Reaktion auf Unruhen
Israel hält Diktator Mubarak die Treue :rolleyes:mad
Während Medien in Europa die Proteste in Ägypten bejubeln, verfolgt das offizielle Israel die Entwicklung mit Sorge. In Jerusalem steht man fest zum Diktator Mubarak, dem wichtigsten Verbündeten in der arabischen Welt - aus Angst vor den Alternativen. Von Gil Yaron, Jerusalem mehr... [ Video | Forum ]
Unruhen in Ägypten
ElBaradei dringt auf Regimewechsel
Fotostrecke: 19 Bilder
Der offene Widerstand gegen die ägyptische Regierung von Präsident Mubarak nimmt zu - jetzt will sich der Oppositionspolitiker Mohamed ElBaradei an die Spitze der Proteste setzen. Der ehemalige Direktor der Internationalen Atomenergiebehörde bietet sich als Chef einer Übergangsregierung an. mehr... [ Video | Forum ]
Panorama: 27. Januar 2011, 18:15
Wieder Schneestürme an der amerikanischen Ostküste
Flughäfen geschlossen – kaum öffentlicher Verkehr
Schneefälle haben erneut das Leben an der Ostküste der USA lahmgelegt. Nach Schneegewittern mit Blitz und Donner werden allerdings wieder Sonnenschein und Temperaturen von über null Grad erwartet. Die zunächst geschlossenen New Yorker Flughäfen sollen wieder geöffnet werden. ...
Proteste in Tunesien jagen Minister aus dem Amt
In Tunesien bleibt Ministerpräsidient Mohammed Ghannouchi an der Spitze der Übergangsregierung. Doch zwölf wichtige Ministerposten, die bisher Vertraute des gestürzten Präsidenten Zine El Abidine Ben Ali innehatten, werden neu besetzt. Mehr...
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