Sunday, April 14, 2013


News Links, April 13-15, 2013

## Global Ponzi meltdown/House of Cards ##
EMU plot curdles as creditors seize Cyprus gold reserves
Mario Draghi Orders Cyprus To Sell Gold To Cover Bailout "Shortfall"
Egypt's central bank holds exceptional auction, sells $600 million for importing vital goods
"Egypt's central bank conducted an exceptionally large foreign exchange auction on Sunday, selling $600 million to banks that urgently need money to pay for basic imports like wheat and materials for industry and medicine."
Former Portuguese Prime Minister Says "Portugal Cannot Pay Its Debts", Calls for "Argentine-Style Default"
China Takes Another Stab At The Dollar, Launches Currency Swap Line With France
Warning to households on bubble (NZ)
"In a blunt warning about the risk of rising house prices, Finance Minister Bill English has cautioned that a growing bubble is likely to burst, hitting the economy and households hard."
In The Wake Of Brazil's Boom, Prices To Match
U.S. to Press Japan to Refrain From Competitive Devaluation
First Bitcoin, Now Gold: All Alternative Currencies Must Be Crushed
The economy is not the stock market
Gerard Casey: 'No property is safe in the EU'
Gold price manipulation – the never ending game?
Homeless Kiwis live under a Sydney bridge
Southern Europe's brain drain over the Alps to Germany
Gold and Silver Buyers Outpacing Sellers 50 to 1
G20 to consider cutting debt to well below 90 percent of GDP

## Airline Death Spiral ##
High-price flights curb travellers (NZ)
Year's first broad-based airfare hike adds $4 to round trips (US)
Qatar Airways hopes its Dreamliners fly again in April
Airbus plans extra-wide seats for fat passengers
"The lack of space on flights has long been a bugbear of British holidaymakers. But now the majority of passengers face aeroplanes with even less wiggle room after manufacturers announced plans to shrink two thirds of seats to make space for overweight travellers."

## Fault lines/flashpoints/powder kegs/military/war drums ##
China denies military buildup on North Korean border
Chinese city on North Korea border holds drill
China Agrees to Join U.S. to End N. Korea Weapons Pursuit
Japan, U.S. agree cannot let North Korea have nuclear arms: Japan foreign minister
US declines to label China a currency manipulator but says renminbi remained undervalued
The US is also not punishing China for buying oil from Iran. -- RF
Kuwait: 20,000 M-16 rifle rounds and 15,000 9mm pistol round stolen from warehouse
Taliban kill 13 members of crack Afghan unit and burn outpost
Russia responds in kind to US Magnitsky list
A Chinese show of force to remember in the South China Sea
The New, Hotter Cold War -- Middle East

## Global unrest/mob rule/angry people/torches and pitchforks ##
BBC in awkward spot as 'Ding Dong! The Witch is Dead' climbs charts ahead of Thatcher funeral
Thousands of Bahrainis mount protest before Formula One
Thousands demonstrate against Spanish royal family
Protesters march against Trident in Glasgow

## Energy/resources ##
Lights out in Jordan?
"The highway is lined with street lights as it weaves down from Amman to the valley floor below sea level, but none are switched on. The government can no longer afford the bill."
Must read: Peak Oil Demand is Already a Huge Problem
"Oil demand has to do with how much oil we can afford. Many of the developed nations are not able to outbid the developing nations when it comes to the world's limited oil supply."
Indonesia Pockets Less Oil Cash, Fanning Deficit Concerns
"Indonesia's oil export revenue is falling far below government expectations as output drops to a more than 40-year low, piling pressure on authorities to confront a widening trade deficit fueled by energy subsidies that encourage consumption."
5 Reasons Why Oil Companies Get Away With Overblown Field Estimates
Australia's Woodside shelves $45 bln Browse LNG project
Egypt debts to oil firms highlight subsidies struggle
"Egypt owes at least $5 billion to oil companies, half of it overdue, corporate reports have revealed, in a development highlighting the country's struggle to meet soaring energy bills while subsidising prices to avoid public unrest."
10 Diminishing Trends in the World of Energy
Iraq struggles to solve electricity crisis
Petrobras Debt Crunch Buoys Exxon's Prospects in Brazil: Energy
Investors eye Balkans for new wind power projects
"Steady winds from the Adriatic and Western Balkan mountains are drawing investors to the region in search of new pastures for wind projects, which have stalled elsewhere in Europe due to subsidy cuts and struggling economies."
Pakistan's energy sector remains mired in crisis
Oil production from joint Iraqi-Iranian field rises
Virtual Bitcoin Mining Is a Real-World Environmental Disaster
Read to see why I put this in the energy category. -- RF
SolarCity Sees Energy Storage 'Viable' Within 10 Years, CEO Says
Bottlenecks put brakes on Iraq's oil export growth
Oil shortage: Khoso warned of blackout, widespread protests (Pakistan)
"The Ministry of Petroleum and Natural Resources has told Caretaker Prime Minister Mir Hazar Khan Khoso that a shortage of petroleum products may force a blackout in the country and spark widespread protests and this necessitates the release of at least Rs29 billion for clearing letters of credit opened for import of oil in April."
Delhi faces summer's first power cuts
Myanmar's real power struggle? Keeping the lights on
"An electricity famine may strangle Myanmar's economic revolution."
UKRAINE: Russia Threatens to Reroute Gas from Ukrainian Transit Pipelines
Oil companies need full compensation to be profitable (India)
"Oil marketing companies (OMCs) would slip into the red in 2012-13 if the government does not offer full compensation for their under-recoveries, analysts tracking the sector said."
Nuclear Is NOT a Low-Carbon Source of Energy

## Got food? ##
Millions face starvation as world warms, say scientists
Cattle thefts spur new interest in livestock branding (US)
Global Food Prices Continue to Rise
Look out Monsanto: The Global Food Movement Is Rising

## Environment/health ##
Global H7N9 Threat: New Bird Flu Danger Worsens, Says Urgent Report
Scientists Race To Stay Ahead Of New Bird Flu Virus
Beijing Brambling, Zhejiang Duck Spawn New Flu, Study Finds
Water discharge from Suncor oilsands spill toxic to fish, probe finds
Let's stop hiding behind recycling and be honest about consumption
Warming means more forests toppled by windstorms
Myriad Genetics CEO Claims He Owns Your Genes
Florida battles slimy invasion by giant snails
"South Florida is fighting a growing infestation of one of the world's most destructive invasive species: the giant African land snail, which can grow as big as a rat and gnaw through stucco and plaster."
'Shadow Biosphere' theory gaining scientific support

## Intelligence/propaganda/security/internet/cyberwar ##
Huge attack on WordPress sites could spawn never-before-seen super botnet
Implantable Electronics Disappear in the Body
Facebook Fatigue Among Teens Should Freak Out Marketers
Local police grapple with abilities to respond to cybercrimes and cyberthreats
The 5 Creepiest Ways Major Companies Are Watching You
Cyber criminals targeting your cellphone: Experts

## Systemic breakdown/collapse ##
Are U.S. Pipelines Too Old for Oil? (video)
"The majority of America's pipelines were built decades ago. About 60% of pipes were laid before 1970, and close to 40% were built in 1950 or earlier. There is increasing concern that these old pipes are a major liability, and accidents like ExxonMobil's oil spill in Arkansas two weeks ago will happen more frequently."
The Trouble Lurking on Walmart's Empty Shelves

## Japan ##
Tepco Faces Decision to Dump Radioactive Water in Pacific
Tepco postpones transfer of radioactive water in Fukushima
Lawsuit seeks evacuation of Fukushima children
Japan, U.S. agree on Tokyo joining Trans-Pacific trade talks
Japanese government creates new law to prevent outbreak of H7N9 bird flu virus

## China ##
China still Hopes its Renminbi will become the Favoured Global Currency
Beijing reports its first case of H7N9; girl, 7
China Reports 13 Bird Flu Deaths; Cases Climb To 60
China says new bird flu cases found in central China
China Said to Invite Four Flu Experts as Disease Outbreak Widens

## UK ##
Cash shortfall for school repairs claims Labour
Teacher is backing 'witch' song campaign to highlight Margaret Thatcher's policies
Wareham and Sandford latest towns to face street light switch-off

## US ##
9 dark omens that show how U.S. growth will wither
U.S. economy can't break free of shackles
April consumer sentiment hits nine-month low
Retail sales point to flagging economic momentum
U.S. housing market showing signs of bubbles
N.Y. teen arrested for bringing toy gun to school
American Dream Eludes With Student Debt Burden: Mortgages
Railcar Loadings Drop Most Year-To-Date Since Crisis
Where The Foreclosure Crisis Is Still Booming
Interest on Student Loans to Give Government $34 Billion a Year in Revenue
Lloyd Blankfein's $21m haul makes him the world's best paid banker
The Great Postal Fraud
Wells Fargo Reports 28% Jump in 401K Borrowing; Reflections on the Economy

And finally…
Police pull over 6-year-old who was out driving to get Chinese food

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