U.S. judge says cannot seize Kurdish crude for now

(Reuters) – A high-stakes dispute over a tanker carrying $100 million in Iraqi Kurdish crude took a surprising turn on Tuesday when a U.S. judge said she lacked jurisdiction given the ship’s distance from the Texas shore and urged that the case be settled in Iraq.

Federal magistrate Nancy K. Johnson said that because the tanker was some 60 miles (100 km) offshore, and outside territorial waters, an order she issued late on Monday for U.S. Marshals to seize the cargo could not be enforced. She said the dispute between Iraq’s central government and the autonomous region of Kurdistan should be resolved in Iraq.

more http://www.reuters.com/article/2014/07/29/us-usa-iraq-kurdishoil-idUSKBN0FY23K20140729

Yes I’m glad the Mogambo is back as well. He came back for the moonshot! 🙂

“grown poor”

oh yea.

aint that an oxymoron we all know and hate.

Thank YOU. We could live with it for sure. But, your help is well appreciated. Thank You again!

A New Peaceful, Tranquil Mogambo?

July 28, 2014
By: The Mogambo Guru

I now belatedly realize, with crystal clarity, that being an “inert carbon blob” is a reachable goal for me. Thus, ‘tis my new plan for my remaining retirement years, since it has no age restrictions, takes no effort, and has zero cost, but, happily, does involve a lot of TV and tasty snacks.

I am re-evaluating such things now, now that my wonderful plans to be a rich champion golfer/ rich movie star/ rich love god/ rich living legend/ rich international playboy are all in utter ruins, thanks to a profound lack of any discernable talent, looks, intelligence, money or actual effort on my part.

Now that I am starting to accept my fate, I am much more serenely Buddha-like, and less concerned that the Federal Reserve and the federal government have been proven to be corrupt, treacherous liars colluding to continually deficit-spend a trillion dollars per year, using nefarious, slimy and heretofore illegal secret tactics made legal under a cancerous expansion of the Exchange Stabilization Fund, in order to desperately prevent any losses (“deflation”) in debt instruments, equity shares or housing prices, because that is where everybody’s money is.

Nowadays, I am much more calm about things, as shown by my seeming nonchalance at the evil Federal Reserve increasing Total Fed Credit by another $14 billion last week, and $12 billion the week before that, or how the monetary base jumped to over $4 trillion last week, a mighty rise of $114 billion in, as I said, One Freaking Week (OFW).

And notice my easy demeanor, instead of choking on my own vomit or my eyes rolling back in my head, at the news that 523,000 full-time jobs were lost last month.

So with my new peaceful tranquility, there is no use getting upset and sending myself into another famous Mogambo Primal Scream Of Outrage (MPSOO) at the absolute horrors to be inflicted because of the inflation in prices that will necessarily follow such massive inflation in the money supply.

And let us not forget that a MPSOO is always replete with loud obscenities, incoherent ramblings, vague death threats, inciting Thomas Jefferson as a reason to riot, take over the Federal Reserve, and get America back on a stable money supply, letting nothing stand in our way.

The usual modus operandi of MPSOO is to proceed to more death threats, anonymous phone calls, annoying emails, police being called, embarrassment at being hauled off, kicking and screaming “We’re Freaking Doomed (WFD)!” at the top of my voice, neighbors jeering, family cheering, and the unpleasantness of court-ordered psychiatric evaluations.

Cont. http://mogamboguru.com/current_issue.html

Weston … a thousand thanks for your assistance!

I’ve grown poor while waiting for the PMs to make me rich. No, I don’t have a chart for that. 🙂

@ 1:44 p.m. EDT

Probably want Ukraine to be part of Europe, because it has VALUE to Europe. Natural recourses, etc. Socialist countries are always looking for a sugar daddy to merge with.

re The EU does not have a problem with the Ukraine. the US/UK overthrew the elected government.

Comment:
You’re RIGHT. Global bankers. Centered where? I forgot. Europe (and USA) are not in control of their own destiny. The world gov’t is, and centered in London England and some say also Israel is part of the global gov’t.

I’m sure all those European countries were merged against their will, or got duped, each losing independence. The PTB make believe there is ONE Europe. There will NEVER be…One Europe.

Re your:
It is the US$ and the standard of living of Americans that is being protected.

Comment
Global dollar yes agreed. But living standards here are declining since 1975. If the low standard is being protected LATELY its because it got too low.
Imo Europe has been doing well, thanks to the US consumer and global bankers and US dollar…1945 thru 2008. Into recession with a loaf under each arm only since 2008 real estate crash.

We need the global handouts now.

OBAMA PRAISES MUSLIMS FOR HUMAN RIGHTS

Bill Donohue comments on President Obama’s remarks last night at the White House honoring Eid-al-Fitr, marking the end of Ramadan:

Last night the president said that Eid “reminds us of the many achievements and contributions of Muslim Americans to building the very fabric of our nation and strengthening the core of our democracy.” He would have done us a service had he enumerated them. “That is why we stand with people of all faiths,” he continued, “here at home and around the world, to protect and advance their rights to prosper, and we welcome their commitment to giving back to their communities.”

No, Mr. President, you do not stand with “people of all faiths” in protecting and advancing human rights. As you speak, Christians are being beheaded all over the Middle East because they are Christians, and those carrying out this mass murder are doing so in the name of Islam. Yet you continue to say and do absolutely nothing about these unspeakable crimes. Do Christian lives mean so little to you?

When I type “President Obama Speaks Out,” or “Speaks Against,” in the search engines of Bing, Google, and Yahoo, the sentence automatically closes with such objects as “Trayvon Martin,” “Kanye West,” “Fox News,” and “Bullying.” I can search in vain to find you condemning the genocidal slaughter of Christians by Muslims.

Ditto for Jews. Muslim terrorists are killing Jews in Israel and their representatives have pledged to wipe Jews off the face of the earth. Yet your administration spends most of its time lecturing Israelis to be patient. About what? Being bombed because they are Jews? Do Jewish lives mean so little to you?

No one wants you to insult Muslim Americans in the White House, but you had an opportunity to at least call on them to speak out about what their people are doing in the Middle East, and you blew it. Instead, you decided to patronize them for all their contributions to human rights.

I say its just the opposite. The media lies all the time. Europe is the country that has a problem with Russia and Ukraine. NOT US!! But since Europe runs the world, and the media, it’s better for EUROPE to make the USA look like the “bothered party”.

They always put words in the USA mouth. And who is this Tyler Durden guy?? Sounds lazy minded to me.

I’m not selling any of my mining stocks. I do have some cash to buy either Put or Call options. As far as seasonality goes there could still be a late August or even a mid September low. One could even argue that the June 2nd low came too early too fit the normal summer low pattern.

Right, building the fabric of America,  was that before or after 911. Democracy, yeah they did a lot for democracy. TSA, NSA, making the word God or a holiday other than theirs a insult. How did they get democracy out of that? Sounds like propaganda.

Wrong time of the year to be short, but that’s just an opinion. So many are waiting for this $1050, and will climb the wall of worry and trade themselves right out of this thing. I have been establishing a position and if it drops from half here, so what, it’s still 80% lower or more from its peak and eventually should be much higher in a few years. All opinion.

EU Announces New Washington-Pleasing, Russia-Wristslap Sanctions

Submitted by Tyler Durden on 07/29/2014 11:05 -0400

After unleashing a 10-page report of the death and destructive economic impact they could have on Russia via sanctions, the European leaders have agreed to issue travel bans, some asset-freezes, and trade curbs on various new individuals and business entities. The Goldilocks sanctions… just enough to please Washington, not enough to infuriate Putin into ‘boomerangs’.

• *EU AMBASSADORS’ MEETING ON RUSSIA SANCTIONS REACHES DEAL: FT

Via DPA,

EU ambassadors have reached agreement on a new round of travel bans and asset freezes in response to the crisis in Ukraine, diplomats say.

*  *  *

The sanctions…

• *EU AGREES CURBS ON RUSSIAN BANKS, EXPORT OF SOME TECHNOLOGY
• *EU TO RESTRICT EXPORT OF EQUIPMENT FOR RUSSIAN OIL PRODUCTION
• *EU TO CURB STATE-OWNED RUSSIAN BANKS’ ACCESS TO CAPITAL MARKETS
• *EU TO IMPOSE EMBARGO ON FUTURE ARMS SALES TO RUSSIA
• *EU TO CURB SALE OF ‘DUAL-USE’ MACHINERY, ELECTRONICS TO RUSSIA
• *SANCTIONS WILL BE REVIEWED AFTER 3 MONTHS: EU DIPLOMAT

But…

http://www.zerohedge.com/news/2014-07-29/eu-announces-new-washington-pleasing-russia-wristslap-sanctions

“thanking Muslim Americans for their many “achievements and contributions… to building the very fabric of our nation and strengthening the core of our democracy.”

I don’t have anything against Muslims any more than any other religion, course my old military buddies don’t agree and don’t care much for the “hodgies”.

But to claim they’ve built the fabric of our nation? Are you sh#tting me?

silverngold is right, congress is even worse for not having the balls to impeach that clown. If he gives amnesty through executive order as he’s hinting he’ll do, and they don’t impeach him, I’ll be staging a protest in front of my Congress critters home.

Friday’s strong up move sure threw me a curveball. I had just established PUT options that morning but, sold them that afternoon at a small loss. The prior call options established just after the early June low were very profitable. Felt great to be finally climb back up  into the trading saddle.

Now, I think that Friday’s move was a one off. The Intermediate Up Cycle established in early June appears to be broken. All we got out of it was six weeks…As of now we are into 3 weeks of lower lows. Gap filling is steadily getting closer. Not Happy.

All and all what seems to be going on is a conflict of interest. One minute their going to war with them the next claiming what good people they are. Before 911 I worked with a female Muslum who was white American who married a Mid Eastener. She was quite happy, a very good nurse and I liked her. All her money went into the bank because he paid all the bills. She didn’t tolerate abusive men and a administrator was treating the nurses badly.He had a habit of coming in going straight to the bathroom so one day she got in there first took all the toilet paper out as well as hand paper and turned off the water. He came in the nurses all smiled waved to him while he headed to the bathroom. He was in there for a hour. She was a character. Unfortunately she dropped out of sight after 911. Yes there are good Muslims I believe and also bad ones. It’s the bad ones we have to worry about.

Yeah they signed the Declaration of Independence too!

Obama should go visit the ISIS guys and see what they have in common.

Canada’s gold giant Goldcorp (TSX:G), (NYSE:GG) said Monday it has achieved commercial production at its Cerro Negro gold and silver project in Argentina’s Santa Cruz province.

“This milestone signals not only the start of Cerro Negro’s mine life, but also a period of sustained growth for Goldcorp,” said chief executive Chuck Jeannes in the news release.

On July 25, the initial dore bar weighing approximately 100 kilograms was poured at the mine containing an estimated 317 ounces of gold.

cont. http://www.mining.com/goldcorp-pours-first-gold-at-argentinas-cerro-negro-mine-23846/

Highest since 2007. Really?

Hard to believe anyone believes that BS, let alone trades on it.

So riddle me this, if things are so great, why are bonds rallying?

HALIFAX, NS (MINEWEB) –

Cowen analyst Adam Graf urged gold miners to buy juniors with high-quality assets now, given a window of opportunity punctuated by still un-moving valuations despite progress on flagship projects. Graf said, “this disconnect provides a unique opportunity for seniors to purchase less risky assets at relatively the same price, versus a year ago.”

He labeled it a “buy now, act later” strategy that gives seniors a chance to beef up their development pipeline. “We calculate, at current forward curves, that most of the senior producers will have built sufficient spending capacity for even the largest projects within 5 years.”

Of course many of the majors and intermediates have been focused on just the opposite strategy, with divestments of non-core and even core assets the name of the game over the passed couple years as miners deal with soaring costs, blown-out capex, declining precious metal prices, as well as ill-advised acquisitions.

Graf, noting this trend, argued that it was nonetheless a chance to grab assets on the cheap – and build later.

“We continue to believe the best strategy for seniors is to acquire targets today for heavily discounted prices to NAV; giving them the option to defer development according to growth needs and balance sheet health,” Graf said.

Graf singled out Goldcorp (TSX:GG) as the miner with the healthiest balance sheet to make acquisitions. Barrick, Graf noted, is still expected to shed assets, possibly over $2 billion worth; and Agnico-Eagle (TSX:AEM) recently made a joint bid for Osisko with Yamana (AUY), committing some of its spending power.

As targets Graf pointed to Pretium (TSX:PVG), Seabridge (TSX:SEA), Paramount Gold and Silver (TSX:PZG), and Gold Standard Ventures (TSXV: GSV).

http://www.mineweb.com/mineweb/content/en/mineweb-gold-news?oid=248729&sn=Detail

Back in the ’60s the basic standard minimum wage was $1.25/hr, but that equated to 5 gallons of gas per hour. Gas was .25 cents, 1 slice of pizza and small Coke was .25 cents, cigarettes were 25 cents etc etc.

Minimum wage should be $20/hr today to match the 1960s. Today an A Mechanic in a sheet metal shop gets $24/hr none union. If minimum wage was $20, the advanced mechanic would get $40. Raise all boats, not just entry level.

TPTB (big business in Congress) over decades refused to maintain that standard rate for inflation by under stating the inflation rate. Even Soc Sec checks are under the curve.

So……Even if we had zero unemployment TODAY, with the workforce under paid by HALF, it would be understandable to have a weak and feeble economy, and millions on food stamps, and lower tax receipts and budget deficits.

TPTB are now realizing capitalism AND GOV”T can’t grow and exist with these low wages in the tax PAYING jobs.

Tax ABSORBING job wages are generally much much higher.

BUY AMERICAN