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Archive for May 23, 2011

Flights out of Scotland cancelled as ash cloud from Iceland volcano ‘will drift over UK within hours’

May 23, 2011 Comments off

dailymail

A Scottish airline has cancelled 36 flights tomorrow as the ash cloud billowing from a volanco in Iceland approaches UK airspace.

Regional carrier Loganair, which flies out of Glasgow, announced that there would be no flights following a Civil Aviation Authority warning that disruption could not be ruled out.

The Met Office is predicting the plume of ash from the Grimsvotn volcano will begin to drift over parts of Scotland in the next few hours and would cover all of Ireland, Scotland and parts of northern Britain by 6am tomorrow.

Asked whether this would cause some disruption to flights, a CAA spokesman said: ‘That’s the way it’s looking certainly at the moment.’

William Hague, however, has said he does not predict the volcano will not cause the chaos seen a year ago. The Foreign Secretary has said that Britain has more information on how ash clouds move and is less likely to have to enforce a blanket flight ban.

Last April airports across the UK were shut down for five days. With school half-term holidays next week any disruption to UK airports would cause chaos for hundreds of thousands of families.

Why oil prices will spike again soon

May 23, 2011 Comments off

cnn

How long till the next oil shock?

Energy prices have been coming down this spring as fears of a Middle East blowup fade. But persistent global demand, tepid supply growth and easy money mean it may not be long till the next damaging spike, Goldman Sachs economists say.

Higher and higher

Oil prices could surge again by the end of 2012, economists Jan Hatzius and Andrew Tilton wrote in a note to clients this past weekend. They say the snail-like pace of global oil supply expansion – which Goldman projects at 1% or so annually – can’t keep a petroleum-addicted world economy rolling without prices rising, perhaps sharply.

So don’t get too used to paying a mere $3 and change for gasoline. Higher prices are on the way soon enough, thanks to stretched supplies and a Federal Reserve spigot that is likely to remain wide open for years to come.

“The fundamental story of increased oil scarcity is unchanged, and our commodity strategists now see distinct upside risks to their current forecast of $120/barrel for Brent crude by late 2012,” Hatzius and Tilton write. “So the impact of scarcer oil and higher oil prices on economic activity remains at the top of our list of worries.”

What makes higher oil prices almost inevitable is the depth of the jobs deficit in the United States. Unemployment is officially 9% but is more like 13% if you consider the low rate of labor force participation, says Bernstein Research strategist Vadim Zlotnikov. That number has fallen this year to levels not seen since 1985.

High joblessness and weak inflation will keep the fed funds rate near zero at least through next year and perhaps longer, Hatzius and Tilton write. That should help keep pushing unemployment slowly toward its long-run average of around 6% — but at the expense of further dollar depreciation, stronger global demand and, ultimately, higher oil prices.

So the selloff that has taken the crude price down to $100 or so in New York and $112 in Europe, where Brent is traded, may persist through much of 2011. But it won’t last Read more…

Global food inflation hits hemp seed, coconut oil and other superfoods: Here’s why it’s happening

May 23, 2011 Comments off

naturalnews

Food inflation is hitting the superfood industry right where it hurts — in the wallet. Thanks to several factors you’ll read about here, prices on hemp seeds, hemp oils, coconut oil and other superfoods are set to skyrocket beginning in just a few days. One of the largest superfood suppliers in the USA, Nutiva, has announced an 11% price increase coming May 27th, and that may be just the beginning of an accelerating trend in steady increases.

In anticipation of this price increase, we’ve taken on a huge inventory of Nutiva’s Certified Organic Hemp Seed and Hemp Oil at the old prices, and we have a generous supply available to NaturalNews readers who want to beat the price increase (see below).

Why hemp and coconut oil prices are heading into the stratosphere

In a letter sent to us by Nutiva, founder John Roulac explains that the price of coconut oil has doubled in the last six months. While coconut oil suppliers are able to absorb some of this cost in the short term, they cannot do so on a permanent basis. This means that the prices consumers pay for coconut oil are headed sharply higher.

Impacting hemp seeds and hemp oil, the price of crude oil (up 30% or more over the last few months) adds to the cost of transporting these foods. Remember, thanks to the completely idiotic and utterly anti-American stance of the DEA, President Obama and most of the U.S. Congress, it is illegal to grow hemp seeds in America, Read more…

Joplin, Mo., tornado witness: ‘Swath cut through town is huge’

May 23, 2011 Comments off

latimes

Joplin

Emergency personnel walk through a neighborhood severely damaged by a tornado near the Joplin Regional Medical Center in Joplin, Mo. (Mark Schiefelbein / Associated Press / May 22, 2011)

In the moments between the first and second tornado sirens that sounded the warning in Joplin, Mo., on Sunday evening, Sara Ferguson knelt in prayer inside a church classroom.

The congregation of Citywide Christian Fellowship Church had been in the middle of services when a few parishioners who’d been keeping watch on the darkening skies outside came back to say it was time to seek safety.

“There was a bit of hail and it was raining terrible,” said Ferguson, 50, who was reached by phone. “We’re up on a hill and the men who stayed at the door watched the tornado pass by a few blocks from us.”

Once it was over, she and her husband made their way to their home, passing a scene of unfathomable destruction. A trip that typically takes 10 minutes lasted an hour and a half.

“I cried the whole way,” she said.

They dodged downed power lines. They passed St. John’s Regional Medical Center, where it “looked like bomb Read more…

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China Prepares To Launch Gold ETFs As Utah Becomes First State To Make Gold And Silver Legal Tender

May 23, 2011 Comments off

zerohedge

Following Friday’s news that China has now surpassed India as the world’s largest buyer of gold, it is becoming increasingly obvious that the country is trying to capitalize on the popular interest in the precious metal by transferring the trading infrastructure away from US to domestic capital markets. First, it recently launched a 1 kilo gold futures contract on the HK Merc in an obvious attempt to undermine the Comex monopoly in the space, and next it seems that China has the GLD plain in its sights, as it plans to start exchange-traded funds, tapping rising demand in China, the world’s biggest investment market for the precious metal. Often blamed for the recent volatility in the price of gold, precious metal ETFs have been primarily an instrument available to those with access to the US market. That appears to be ending, and with an entire nation suffering from gold fever (as inflation continues to be goalseeked by the China politburo above expectations in what appears to be a programmed attempt by the Chinese central planners to push its population into gold hoarding) and about to be offered a simple way of investing in (paper) gold, it is likely that the price of gold (and soon thereafter all other commodities) will see unprecedented spikes in price in either direction as millions more are given direct exposure to trading the non-dilutable currency equivalent.

From Bloomberg:

“There are some complexities, as the central bank is in charge of gold management, while we still need to go through the procedures for launching new exchange products,” Wang Zhe, chairman of the bourse, said at a Shanghai forum. There is no timetable and the exchange is working with regulators on the plan, Wang said. China is the world’s largest gold producer and second-largest in overall consumption.

China doesn’t have gold ETFs and investors usually choose to buy physical gold, or invest through contracts traded on the Shanghai Gold Exchange, the Read more…

Beijing Agrees to Operate a Key Port, Pakistan Says

May 23, 2011 Comments off

wsj

BEIJING—Pakistan’s defense minister said China has agreed to take over operation of the strategically positioned but underused port of Gwadar, and that Islamabad would like the Chinese to build a base there for the Pakistani navy.

Ahmad Mukhtar gave no clear timetable on the possible change at Gwadar, on Pakistan’s western coast, which is currently managed by a Singaporean government company. But his statement Saturday is the latest illustration of how Pakistan is portraying China as a powerful alternative ally and aid source if the U.S. scales down military assistance for Islamabad in the aftermath of Osama bin Laden’s killing.

China is eager to expand its influence in Pakistan over the long term, but is wary of the country’s chronic instability, which was highlighted late Sunday when a Pakistani naval base was attacked in the western port of Karachi, about 300 miles southeast of Gwadar.

Mr. Mukhtar made the announcement after accompanying Prime Minister Yusuf Raza Gilani on a visit to China last week. During that visit, Pakistani officials say, Beijing agreed to expedite delivery of a second batch of 50 jointly developed JF-17 fighter jets to Pakistan, possibly within six months.

The fighter agreement prompted India’s defense minister, A.K. Antony, to express serious concern in a meeting with reporters late Friday about the growing defense ties between China and Pakistan, and to assert that India’s only possible response was to build up its own military arsenal.

Attempts on Sunday to contact Mr. Antony and other Indian officials for comment about Gwadar were unsuccessful. In the past, Indian officials have expressed concern Read more…

ELEnin Dwarf Star Warning September 26, 2011 – Make Viral!

May 23, 2011 Comments off

The data says we are looking at an inbound dwarf star that has been causing earthquakes on our planet since 1965 and causing magnetic pole migration since about 2004. The evidence indicates that Earth will experience a pole shift event around 9/26 to 9/27, when the Sun, Earth and this ELE object are on the ecliptic/celestial planes that intersect at the autumn equinox. Everyone is warned to prepare for what is coming later this summer that will make Japan 3/11 look like Read more…