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The market is conditioned to accept higher gas prices at the pump. People have been more shocked that it stayed around $2 for as long as it did.
Black Swan Clusterflock +1. As if earthquakes, tsunamis, nuclear meltdowns and war was not enough, the Examiner now discloses that a replay of the BP oil spill could be in the making, sending WTI to the (super)moon, the economy collapsing, and Ben Bernanke starting the printer in advance of QE 666. To wit: "The U.S. Coast Guard is currently investigating reports of a potentially massive oil sheen about 20 miles away from the site of the Deepwater Horizon oil rig explosion last April." There are no definitive reports yet, but we should now for sure within hours, if the Keppel FELS built TLP is indeed the culprit: "According to Paul Barnard, operations controller for the USCG in Louisiana, a helicopter crew has been dispatched to the site of the Matterhorn SeaStar oil rig, owned by W&T Offshore, Inc." And if preliminary reports are correct, BP will have been the appetizer: "Multiple reports have come in of a sheen nearly 100 miles long and 10 miles wide originating near the site." If confirmed, Obama can kiss tomorrow's Rio golf outing goodbye.
Independent pilots, including John Wathen of the Waterkeeper Alliance, and Bonnie Schumaker with Wings of Care, are currently flying out to investigate the spill. Schumaker reports having seen the sheen on Friday, March 18, and confirms that it is rapidly expanding.
A Louisiana fisherman, who has chosen to remain anonymous at this time, also reports fresh oil coming ashore near South Pass, LA, and that cleanup crews are laying new boom near the beach.
The site of the sheen, near Mississippi Canyon 243, lies 30 miles from the Louisiana coastline. The Matterhorn field, at a depth of 2,789 feet (850 meters) of water, was discovered in 1999, leased and permitted in July 2001, and came into production in November 2003. It is located 30 miles SE of the mouth of the Mississippi River.
According to W&T, the field has produced an average rate of 5,200 barrels of oil per day, and has production capacities of 35,000 barrels of oil per day.
Of course, whether this is due to the Matterhorn SeaStar or a second leak that many predicted last year due to the Deepwater Horizon will also be closely evaluated this time around.
Update 2: Dow Jones is on it:
The U.S. Coast Guard said late Saturday that it is investigating reports of a miles-long oil slick in the Gulf of Mexico.
The Coast Guard said in a news release that it received a report of a three-mile-long rainbow sheen off the Louisiana coast at around 9:30 a.m. local time on Saturday. Two subsequent sightings were relayed to the Coast Guard, the last of which reported a sheen that extended from about 6 miles south of Grand Isle, La. to 100 miles offshore.
Though the Coast Guard was able to confirm that there is a substance on the water's surface, it has not yet been able to determine if it is oil. Petty Officer Casey Ranel said that officers who observed the substance from a helicopter said they saw no sheen associated with it. That flight was diverted from the scene on a separate search and rescue mission, however, and could not continue their investigation, the Coast Guard said in the news release.
The Coast Guard has since launched additional aircraft and boats to the scene from New Orleans and Mobile, Ala., to collect samples of the substance. Ranel said the area where the substance has been reported is about 20 miles west of where the Deepwater Horizon rig exploded last April, killing 11 and unleashing the largest offshore oil spill in U.S. history.
Ranel said the Coast Guard has not linked the substance to any particular rig or well.
The Oil Spill Liability Trust Fund, which holds oil royalties to pay for spill clean-up costs, has been opened, the Coast Guard said.
http://www.zerohedge.com/article/possible-new-oil-spill-100-10-miles-reported-gulf-mexico
Reuters Reuters Top News
Arab League chief says air strikes on Libya differ from the no-fly zone which was called for; aim was to protect civilians not bombard them
REUTERSFLASH ReutersBreakingNews
by zerohedge
Russia calls on Britain, France, U.S. to "stop non-selective use of force" in Libya
ShababLibya LibyanYouthMovement
by zerohedge
Reuters: Gaddafi government will distribute weapons to more then 1 million Libyans within hours.
Reuters Reuters Top News
FLASH: Number of Libyans killed by western air strikes rises to 64 after some of the wounded died - Libyan health official
AlArabiya_Eng AlArabiya English
by BreakingNews
Mullen says he has seen no reports of civilian casualties from air strikes
They've been threatening to intervene since 110.00.. and they have a few times. At most their efforts have allowed the timid to take profits and then watch the buck fall some more.
Japan and so called friends haven't the ability to stop the free fall that is the buck. They can be pissed about it. They can do that.
Could be both.
Plenty of fat cats who are thrilled about oil staying above a hundred, that's for sure.
There's another side to that coin.
It is possible that the spike in oil is due to all the calls to now abandon nuclear power.
Looked like they did today with the 60 pip pop in the USD/JPY.
Only ever get the rumor they will never the confirmation they did.
The world's most (in)famous hacker group - Anonymous - known for recently discrediting HBGary, advocating the cause of Wikileaks, and the threat made by one of its members that evidence of fraud by Bank of America will be released on Monday, has just launched communication #1 in its Operation "Empire State Rebellion." The goal - engage in "a relentless campaign of non-violent, peaceful, civil disobedience" until Ben Bernanke steps down and the "Primary Dealers within the Federal Reserve banking system be broken up and held accountable for rigging markets and destroying the global economy effective immediately."
The Anonymous manifesto:
We are a decentralized non-violent resistance movement, which seeks to restore the rule of law and fight back against the organized criminal class.
One-tenth of one percent of the population has consolidated wealth in unprecedented fashion and launched an all-out economic war against 99.9% of the population.
We are not affiliated with either wing of the two-party oligarchy. We seek an end to the corrupted two-party system by ending the campaign finance and lobbying racket.
Above all, we aim to break up the global banking cartel centered at the Federal Reserve, International Monetary Fund, Bank of International Settlement and World Bank.
We demand that the primary dealers within the Federal Reserve banking system be broken up and held accountable for rigging markets and destroying the global economy, effective immediately.
As a first sign of good faith we demand Ben Bernanke step down as Federal Reserve chairman.
Until our demands are met and a rule of law is restored, we will engage in a relentless campaign of non-violent, peaceful, civil disobedience.
In our next communication we will announce Operation Empire State Rebellion.
Glorious Chairman Ben - our free advice to you: change your e-mail password stat...
http://www.zerohedge.com/article/hacker-group-anonymous-brings-peaceful-revolution-america-will-engage-civil-disobedience-unt
zerohedge zerohedge
BOJ to flood money markets wth JPY2 trillion first thing monday
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lol, yeah most don't know deleted posts are not deleted, just hidden.
It's alright, I doubt the authorities care even a little about our past antics.
lol, I thought you edited the post away.. Had to put my goggles on to see you hid it by deleting.
The best and most telling part of that series:
See...
lol.. yes.. I remember daily.
every once in a while I go back to post 000001 of this board.
That is exactly my plan and what I am doing.
I found myself in younger days and even today befriending those older than me while encouraging those younger.
It truly is a cycle where one learns from those older while teaching those younger.
We are biotic after all.
I can't help it, I'm an adrenaline junky. I'm always trying to challenge myself. I guess that's why I made my way towards trading.
I like to put myself in the position where I am forced to realize that I am in over my head.. and then turn treading into backflips.
I've always figured there was something to the stories as the people telling the tales were far from the sort that needed the adoration.
I know because I grew up in the area.. ish.. Niagara Falls is the area .. ish.
It's just not that hard to believe that a small society of reptiles made it this long in such an untouched area with plentiful nutrients.
Mine was a second generation Charger.. the smaller version with the Japanese motor.
2.2 liter..
Not even close to a muscle car of old.. But quick and turned well.(1985 model I bought in 1992)
Seems I've always went for the quick turning cars.
I was never really into just the go quick and straight cars.
I've always been about a melding of all facets of driving.
I want a street legal Indy car I guess.
Closest I can get is a crotch rocket.
Are they still claiming the Lake Champlain monster is around up there?
20 - 1985 charger with a chip--- Spunky.. Corners well
25 - 1990 Eclipse GSX -- quicker
28 - 1982 280 ZX Turbo -- quick and fast.. wow fast
30 - 87 RX7 with a bunch of work done -- Not that quick but wow fast and smooth - Rotary engine.. kind of like driving a turbo.. hard to explain. Wicked top end.
31 - Married - Grand Am... Slow. Not fast. Very slow
37 - Yamaha R1... Fast and Quick redefined
lol.. Pansy.
I wasn't ever a coke guy.
I've smoked enough weed to quiet a galaxy though.
I understand what you mean about gaining respect from close calls, though mine were never on a bike.
I've always had fast cars and I've always driven them to their limits.
I'm not that moron who does a quick blast passed a buck and calls it quits.
I'm the guy who finds the vehicle's resonant frequency somewhere above a buck-twenty and stays there for some time.
Life is about stretching wings..
Life is about finding limits that you will soon regard as childlike.
Funny thing is, the guy who sold it to me dropped it on the right side.. left a scratch on the plastics.
I
Dumped it on the right side.
Same spot.
No biggie.
And yes I have my gear on.
Yeah exactly, that's why I'm really not that shocked or awed by any of it.
It's like watching a gimpy third cousin bounce off a wall for the thirty-seventh time.. Rather alarming the first time.. Somewhat predictable eons later.
Oh, didn't tell you.. Dumped the bike for the first time yesterday.
Was pulling into my parking spot and there was a few leaves on the ground.. whop and I was on the ground. Funny.
Just happy to get the first fall out of the way.
Feels like someone is setting up a chess board...
Who's next?
All of them.
It's too early to tell if this is the big one or just a bump on the way.
What's the goal?
Complete melt down of the M.E. to the point that we need to go rushing in to help/take over? Or just enough of a ruckus to make WTI pop and get inflation going? (Like I have said... They are going to pursue inflation to the point that it boils over)
All we can know is:
A- We don't know
B- whatever they are up to it is both moronic and born of evil intent.
Yeah saw that. I'd be surprised if all we saw was $115, even though the chart on WTI just didn't look like it was capable of a breakout.
Everytime oil demand seems to slump there is some sort of reason for oil to be perceived as short in supply. That's the manipulation.
Doubt this will go one for long... Of course I say that about seemingly every crisis that grips the world on what is beginning to be a clock work accurate three months.
In three months no one will even remember all of this.. other than living with $4.00/Gal gasoline.
Yup, I am looking at the monthly.. Clear as day pattern.. Still intact.
Are the morons going to raise rates?.. Who knows? Show me a method of predicting the random actions of the witless and I will show you all the riches in the world.
Just going off the charts alone, I don't see where the buck is poised for a reversal. It's still looking mid trend.
Looking at the news I'm not sure I can see where a buck reversal is coming from. Those morons are polishing off plans for QE's 3, 4, 5, and 6 in the hopes that they will finally kill us all off due to starvation. Every QE they push out inevitably creates a weaker dollar. I know there are paid idiots all over the airwaves and the net blathering that the dollars involved in the QE's won't be a dillutionary device... But as I've just now stated... They're idiots. (Let's take a moment and marvel at the word dillutionary.. Yes I just make them up as I go along.)
What I think can happen that might appear to be a buck reversal is a severe downturn in the EUR/USD. But that's not really indicative of any sort of buck strength as much as it is the result of all the euros being pumped into the system via nation bailouts. EUR/USD on the monthly is just now revisiting a fairly powerful descending trend line. Odds are it is from here that she really begins to plummet.. but again.. This being Forex... anything can happen.
Put on a little over five hundred miles.
Starting to get the hang of it.. Need to get her into the shop.. she wiggles when passing 110.. evens out after that but still.
Had new Dunlops put on about a week ago and have used all but a half inch on each side.
That's my indicator of how well I'm progressing.. How much of the tire is scuffed.
Good times.
I'm the fastest thing on the road again.. I'm feeling like me again.
On the surface they are trying to make it look like a revolt against America. As if all these countries wish to abandon our currency because of something we did wrong.
The funny thing is that what is being proposed as a solution is the exact same system we have, only on a global scale.
Their aim is to turn the world into a republic governed by the exact same bankers that govern us.
I know the fine folks that visit and post on this board get it. What amazes me is just how many regular folks are truly oblivious to even the tiniest shreds of reality. All I ever hear is bs about republicans and democrats.... on and on.
Drives me to a point I've often been to:
Phuque 'em... You know what?.. Powers that be want to reduce the population by 90%... I'm with them.. Get rid of all these genetic dead ends.
I've always hated stupid people.. Nothing infuriates me more than being forced to witness the uneducated, unrefined patterns of the common homo sapien..
As predicted on this very board... Years ago:
http://money.cnn.com/2011/02/10/markets/dollar/index.htm
NEW YORK (CNNMoney) -- The International Monetary Fund issued a report Thursday on a possible replacement for the dollar as the world's reserve currency...........
Initial resistance is at $1.80... No?
That it is.
I'm pooped...
That thing is a beast.
I made it to 70 MPH so far, though I haven't touched the 6800-11200 RPM power band yet.. No where near ready for that yet.
The weird thing is how much less I can see around me compared to a car.
I'm used to knowing where everyone around me is... Not the case on that thing..
The one about China and America comparing is spot on.
lol, no. You seem to have control of that thing since you came back.
Lemme look and see...
Man I've been rained out all week.
Today was the first real day since Monday that I've been able to get out.
Did about fifty miles or so. What a totally new experience.
That's the right mindset, and your assumptions are pretty close to right.
You will look at the world differently in a year... You will be cynical and will never believe a government again.
Welcome.
Have fun.
Ask any questions you can think of.
You have answered your own question.
Bout the only rule here that dictates topic is that there be no serious talk about penny stocks.. We can make fun of them.. Ridicule those who trade them.. admonish the easily led... Just please.. no ps bs.