Random links: The latest Systemic Margin Call; Russians blame 85% of Afghanistan opium on American aviation!

Or also, from the last several days...

Clinton_Plan.jpg

Political Punch: Liberal bloggers sayin Clinton ads darken Obama. Some others say it is a YouTube artifact effect.

Atmosphere released a free MP3 from the next album.

Hillary, Obama and the Establishment Machine | The Agonist

Hm. Definitely interesting: The Man Between War and Peace, Admiral Fallon.

Cuban Cyber Rebels and their flash drives and blogs! Viva Cuba flashdriva!

Smashing Magazine has nice design and free fonts.

io9 has random sci fi stuff. cool design too.

When in doubt, check out the Gary Webb video @ Archive.org, late in his life reflecting on the whole Los Angeles CIA crack cocaine thingy.

Global Guerillas is pretty buzzwordy, but it's pretty good. For your daily dose of super-modern open source insurgent warfare, extortion through DDoS - both Russian and Botnet variants, the imminent insect techno-eschaton, and how one super-empowered individual guerilla Henry Okah has brought Nigeria into total chaos and propelled oil over $100 a barrel. This Robb guy is definitely paying attention. National security bureaucracies are doomed?! Not if they can hoard up their own very biggest bestest haystack!

Meanwhile the economic crash continues apace. Much hand-wringing at one of my favorite spots, the Agonist . Wheat is over $12/bushel.

Buffett: it's a recession, stupid.

Banks face systemic margin call, $325 billion hit: JP Morgan!

NEW YORK (Reuters) - Wall Street banks are facing a "systemic margin call" that may deplete banks of $325 billion of capital due to deteriorating subprime U.S. mortgages, JPMorgan Chase & Co (JPM.N:Quote, Profile, Research), said in a report late on Friday.

JPMorgan, which sent a default notice to Thornburg Mortgage Inc. (TMA.N: Quote,Profile, Research) after the lender missed a $28 million margin call, said more default notices and margin calls were likely. The Carlyle Group's mortgage fund also failed to meet $37 million in margin calls this week.

"A systemic credit crunch is underway, driven primarily by bank writedowns for subprime mortgages," according to the report co-authored by analyst Christopher Flanagan. "We would characterize this situation as a systemic margin call."

The credit crisis that began about a year ago will likely intensify after Friday's weak February U.S. employment report "that most definitely signals recession," JPMorgan said.

Bush Family Piggy Bank Receives Default Notice! | The Agonist

The best news I have heard is the insane bastards in Florida who have taken advantage of the crashed system. They are sitting in their homes, paying nothing at all, waiting for the totally conked court system to struggle with the lost paperwork at every level of the mortgage. An awesome thing to behold!! The Big Picture | Foreclosure-proof Homeowners:

What is shocking, that in each and every case, I have been told by brokers and banks that the owners, have ceased paying their mortgages in some cases for nearly 2 years and have continued to occupy these homes. Now, these are homes in excess of $2,000,000 in the very best neighborhoods in South Florida. Brokers have added that these buyers further complicated things by putting huge home equity lines on top of their mortgages and now have no possibility of selling their homes for amounts needed to cover their accumulated debt.

America is amazing. Ok.

Bloomberg.com Citigroup needs Arab cash, fast!!!! Rlly fast!!!

Russians pissed off about American/Pakistani opium smuggling support in Afghanistan: (via cryptogon)

Narco Aggression: Russia accuses the U.S. military of involvement in drug trafficking out of Afghanistan by Vladimir Radyuhin

Global Research, February 24, 2008: Global Research Editor's Note

The global proceeds of the Afghan drug trade is in excess of 150 billion dollars a year. There is mounting evidence that this illicit trade is protected by the US military.

Historically, starting in the early 1980s, the Afghan drug trade was used to finance CIA covert support of the Islamic brigades. The 2003 war on Afghanistan was launched following the Taliban government's 2000-2001 drug eradication program which led to a collapse in opium production in excess of 90 percent.

The following report, which accuses the United States of using military transport planes to ship narcotics out of Afghanistan confirms what is already known and documented regarding the Golden Crescent Drug Trade and its insiduous relationship to US intelligence.

February 23, 2008

Russia, facing a catastrophic rise in drug addiction, accuses the U.S. military of involvement in drug trafficking from Afghanistan.....

....“Unfortunately, they [NATO] are doing nothing to reduce the narcotic threat from Afghanistan even a tiny bit,” Putin angrily remarked three years ago. He accused the coalition forces of “sitting back and watching caravans haul drugs across Afghanistan to the former Soviet Union and Europe.” As time went by, Russian suspicions regarding the U.S. role in the rise of a narco state in Afghanistan grew deeper, especially after reports from Iraq said that the cultivation of opium poppies was spreading rapidly there too.

“The Americans are working hard to keep narco business flourishing in both countries,” says Mikhail Khazin, president of the consultancy firm Niakon. “They consistently destroy the local infrastructure, pushing the local population to look for illegal means of subsistence. And the CIA [Central Intelligence Agency] provides protection to drug trafficking.”

U.S. freelance writer Dave Gibson recalled in an article published in American Chronicle in December what a U.S. foreign intelligence official, speaking on the condition of anonymity, told NewsMax.com in March 2002 of the CIA’s record of involvement with the international drug trade. The official said: “The CIA did almost the identical thing during the Vietnam War, which had catastrophic consequences – the increase in the heroin trade in the USA beginning in the 1970s is directly attributable to the CIA. The CIA has been complicit in the global drug trade for years, so I guess they just want to carry on their favourite business.”

AFP

(A USAF cargo plane takes off from the U.S. airbase in Incirlik in Turkey in March 2003. A Russian news channel reported that drugs from Afghanistan were hauled by American transport aircraft to the U.S. airbases in Kyrgyzstan and Turkey.)

Now Russia has joined the fray accusing the U.S. military of involvement in the heroin trafficking from Afghanistan to Europe. The Vesti channel’s report from Afghanistan said that drugs from Afghanistan were hauled by American transport aircraft to the U.S. airbases Ganci in Kyrgyzstan and Incirlik in Turkey.

The Ganci Air Force base at the Manas international airport in Kyrgyzstan was set up in late 2001 as a staging post for military operations inside Afghanistan. The Kyrgyz government threatened to close the base after neighbouring Uzbekistan shut down a similar U.S. airbase on its territory in 2005, but relented after Washington agreed to make a one-off payment of $150 million in the form of an assistance package and to pay $15 million a year for the use of the base.

One of the best-informed Russian journalists on Central Asia, Arkady Dubnov, recently quoted anonymous Afghan sources as saying that “85 per cent of all drugs produced in southern and southeastern provinces are shipped abroad by U.S. aviation.”

A well-informed source in Afghanistan’s security services told the Russian journalist that the American military acquired drugs through local Afghan officials who dealt with field commanders in charge of drug production.

Writing in the Vremya Novostei daily, Dubnov claimed that the pro-Western administration of President Hamid Karzai, including his two brothers, Kajum Karzai and Akhmed Vali Karzai, are head-to-heels involved in the narcotics trade.

The article quoted a leading U.S. expert on Afghanistan, Barnett Rubin, as telling an anti-narcotics conference in Kabul last October that “drug dealers had infiltrated Afghani state structures to the extent where they could easily paralyse the work of the government if decision to arrest one of them was ever made.”

Sure, they can say the Russians are grumbling like usual. But from Moscow's perspective, the U.S. is just trying to keep on top of all the Players in the Game. And they run the Wire all over the whole territory, so they know exactly who is doing what where, and can watch the opium caravans go cruising by. The fact that this doesn't track in American conventional wisdom is a monument to the intentional ignorance of Baby Boomers, regardless of how accurate the Russians are here.

The planes, the drugs, the detainees, it all seems to be part of a nexus of secret military/DHS contractor airlines. These guys are soooo 1980s. The ponzi scheme depends on information asymmetry, which can always be disrupted......

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