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True enough, however there is an obvious connection to be made here. Genentech, aka DNA on the NYSE, the most advanced, best capitalized genetic research labs that we have is getting swallowed up by the Swiss Roche. They already have a controlling interest, since Da Boyz did not think it was a substantial investment, like say Merril Lynch, or Morgan Stanley. So the clockmakers got the first dibs, and are now closing in for the last cuckoo gulp. Don't know why you don't think that is not important. Most likely, genetics will be the industry of this century. It is all very well with the voracious gnomes, however this is reality that will ring for a hundred years. The chances of any other country except the Stupid States of America letting this treasure fall into foreign control are zero.


yep. this is predictable... right after they bail out FM & FM. suddenly US bond worth nothing. The entire planet know the US gov. is bankrupt. Adding $1T debt overnight? what's the premium on that stuff?

China is so going to dump their US holding. (Hey maybe we can make a deal they can have the entire central asia for the rest of useless paper.)


Anthony, our Treasury paper credit default swaps just doubled to 20 points from 9. This is unprecedented.


Holy S$%^ calvino! Are people protecting themselves against the US government defaulting on the tbills, or is it traders purchasing the CDS for speculation that eventually other people will start wanting to protect themselves?

But a CDS does not protect against currency falling towards infinite zero like zimbabwe, and it does not protect against the interest rate going through the roof and the value of the Tbill going through the floor.

So is there any other explanation other than people are protecting themselves against the US defaulting on its debt, ala Russia in the 1990s?

What are the scenarios where the US Treasury would default on their debt? Would it be a financial WMD used on China (and SA)?

Just a power play as in 'F you, I don't need to pay your stinking paper; just try to get it back F-ing loser. '?

Genocidalists try to trigger a population-clearing starvation/epidemic/war crash?

Who could possibly be a reliable counter-party on the T Bill CDO? Now you need to buy another CDO to backup the counter-party of the original one to watch the watchers!

The world is ruled via the Bond market, so I bet it is insider speculations buying up these Treasury CDS ahead of some 'scary' news that 2nd tier traders will pick up.

This is war baby.


The cost to insure Treasury debt with credit default swaps jumped to 16.5 basis points, or $16,500 per year for five years to insure $10 million in debt, from 8 basis points on Thursday, an analyst said.

Elaine Meinel Supkis

Thanks for that news! I scan the news endlessly, I get wonderful emails all the time and no one alerted me to that juicy story! Wow,

That huge jump was entirely due to the 'rescue' of half of the US mortgage market.

The Chinese told me long, long ago, it would be worth it to them to lose a lot of money if they could lure the US into bankruptcy. And when Russia went bankrupt and their empire disintegrated in less than 5 years, this confirmed to the Chinese the wisdom of using lending to drive rivals into penury works.

Always, throughout history, the Chinese have preferred this methodology. I suspect most US people do not closely study Chinese history or worse, know this information and then ignore what it means to us. They think, 'The Chinese were invaded by the Mongols and the Manchu and the British.

But those failures are significant to the Chinese. This is why, this time around, the Chinese are very focused on their 'virtues' and have not underfunded their military. I have noted in the past that the Chinese are now very big into 'spit and polish' which is a sign their military is in good shape. They are not being bled to death with wars with 'barbarians' from the depths of Asia.

And the US forces are increasingly wearing wrinkled, mud colored, sloppy uniforms with big, brown shoes. We look terrible.

Oddly enough, this matters!


If I had to bet on only 2 things in life, I would bet that the Chinese Government is going to get loaded up with debt to build a WORLD, nay UNIVERSE, CLASS military and the citizens will get loaded up UNPRECEDENTED amounts of personal debt.

What is 1 billion people borrowing 1 million each?

1,000,000,000,000 of fresh new debt.

Banker orgasm.

But getting back to the T Bill CDO, I am quite curious who is the counter-party stronger than the US GOVERNMENT???

Perhaps it is insurance against the plan laid out by Lyndon LaRouche to regain US Sovereignty from the Criminals in the EU.

He proposed freezing all our debt. But instead of selling off the US to the IMF/Lisbon treaty gang, he proposes us using our Constitutional authority to issue credit.

To rebuild our asset-stripped nation and crumbling infrastructure.

We must PLAN AHEAD and be ready for the Shock Doctrine to be applied to us.


"The only solution to this death spiral is the plan laid out by LaRouche, which involves returning to the American System of Economics. The beginning point is the use of Constitutional powers to put the financial system through the equivalent of a bankruptcy proceeding, freezing the huge mountains of debt and protecting the nation and its people—by making sure that the essential goods and services continue to flow, that people remain in their jobs and homes, and that the rebuilding of the productive sector of the economy begins as an immediate priority. The Government, speaking for the People, must assert its dominion over the banks, the corporations, and the markets, and must work with other like-minded nations in international cooperation to reclaim the planet from the parasites. We may have political obstacles to overcome to implement such measures, but the levers to do this are built into our form of government, whereas these levers do not exist in Europe."


1,000,000,000,000,000 one quadrillion


Bernanke keeps Canadian bonds (Bloomberg):

Federal Reserve Chairman Ben S. Bernanke held low-risk mutual funds and retirement investments last year as he led central bank efforts to calm financial markets amid the subprime mortgage crisis.

Bernanke and his family owned $1.2 million to $2.5 million in financial assets in 2007, little changed from the previous year. The filing requires officials to report only the range in the value of their specific holdings.

The Fed chairman's investments ranged from Canadian Treasury bonds to a retirement annuity, according to annual financial-disclosure filings released by the Fed today.

Elaine Meinel Supkis

HAHAHA about Bernanke! Boy, does he have faith in the US dollar.

About Larouche: one giant problemo here: OIL. We have to cut oil imports to zero barrels. We can do this but not while driving SUVs a all over kingdom come.


The bimbo's on bimbo tv are about creaming on themselves with the dow coming off the overnight spill! They know, or at least someone told them that oil is supporting the indexes. Coincidence? I don't think so. Today aboo doobi is announcing they will buy 120 billion of ge shares. It's good to be born on top of an oil swamp. Especially if you are the king. So the king of aboo doobi, decided to throw us a bone and knock down crude a littlle more. Whoppee bimbos. They really don't care which gnome they will be cucking though. From here, from aboo doobi, gold shines all the same. See it's not zi juus who own zi gold and zi usa. It's zi arabs, zilli.


Icelandic CDS hit 1000 basis points at two of their major banks, double just two months ago.

1 mil/year to insure 10 mil over five years.

One year ago, they paid only 30,000. And then they suffered the diabolical visit from Bear Sterns.


The Reuters link is not working, anyone have a headline to search on?


Bear of Little Brain

Uh? Quick check shows Marketwatch reporting $8Bn joint venture spread over three years ($4Bn from Mubadala). My Ameritrade info gives total GE shares outstanding as 10 Bn and current price as $28.27. Where'd 120 Bn come from?
And I guess they're using recycled dollars, not gold. ;-)


Bear, I have been watching bubble tv all morning.. they said ten percent of GE was their goal.. 28 bil.

Elaine Meinel Supkis

Edison is turning over in his grave.

Elaine Meinel Supkis

GE is also a very big military producer entity. The Arabs want this badly.

Paul S

The book, "Unrestricted Warfare", the Chinese lay out their approach to 'fighting' the USA. Economic warfare is very much in the Chinese "toolbox". Everyone here realizes this, but the book is illuminating in that it explains the logic, as the Chinese see it,for using this tactic. With the military buildup, I think the Chinese plan is using their military as a giant trump card in case the USA is stupid enough to try anything. If you haven't read "Unrestricted Warfare", I would recommend it. It was written (reportedly) by two Chinese Army officers.

Bear of Little Brain

Maybe the hyper-inflated $28 Bn will come out as $120 Bn by the time they've got their 10%! ;-)

I can't rally get excited about 10%, though.

Bear of Little Brain

Maybe the hyper-inflated $28 Bn will come out as $120 Bn by the time they've got their 10%! ;-)

I can't really get excited about 10%, though.

Bear of Little Brain

Ooops, sorry about the duplication. Some server error came up and I re-sent.


If the prime motivator here is sex, or lack of sex, then religion is to blame for these problems for making sex a forbidden fruit.

If sex was a very normal part of life, nobody would be "sex starved"

Market Watcher

Hi, Elaine.

I spent some time in East Asia in my youth, about 25% of it, and have burned incense at the graves of the 47 Ronin and prayed at Yasukuni. I am of the Warrior sort. I have read Stalin's speeches. Politically I am torn between Maoism and traditional culture, tribe, clan, Church, and Nation (as was Mao).

I can still sling the Marxist-Leninist lingo. I study Mao's life these days since China has opened up materials. I have had my children get majors in Mandarin and have sent the willing ones to China for study.

This is to establish my bona fides for my next statements. Henry C.K. Liu is a Maoist, and a self proclaimed Maoist, one who has left tracks all over the internet making this certain. I understand him well enough. If you think the Gnomes are bad wait till the Maoists are in power here in America.

Which is coming. The probability is high.

The Falun Gong were all arrested and none have been released. There are fairly reliable claims that most have been killed. Certainly they have been harvested for bodily organs and then killed. This is the future for us unless we take the correct road.

Elaine Meinel Supkis

I am a historian. I write history as it happens. This is because everything is easy to track, frankly.

The great European/US imperial rule of the planet is fading fast while the sun rises in the East. We have to accept this fact. Once we do this, it is easy preventing our own destruction.

But this means stopping all our many wars in the East. We won't do this. So we head towards destruction.

Market Watcher

Hi, Elaine, again.

The existing situation can be saved, although, personally, I don't think it will. Europeans and Americans would have to stop acting like children that don't want to get out of bed in the morning. There is an insistance that only pleasant dreams be allowed. The sleepers (us) refuse to awaken and the Dragon is no longer sleeping.

My Dad's friend, a Professor Ueda, a very learned and wise man, talked about China, the Dragon, awakening. Dr. Ueda invited us into his home when I was ten. He had an impressive collection of antiquities and old books, history, mostly. Dr. Ueda was an historian in depth but especially studied China.

His youngest son was a Kamikaze pilot who never received his mission. He was then about twenty five years old. He was not a happy young man. I asked him if he was even a bit happy to be alive when so many were not. He was not. His feelings were mixed, but only a little bit. From Dr. Ueda's son I learned much. Remember his face to this day. Wish him well.

Learned about everything I know about war from East Asians.


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