My Lunch with the CIA

[bcassill]

Another interesting post by the Mad Hedge Fund Trader

http://www.zerohedge.com/article/my-lunch-cia

[Rajiv]

Re: My Lunch with the CIA

Interesting snippet about Pakistan in that article

Panetta’s final piece of advice: don’t even think about making a cell phone call in Pakistan.

I wonder why?

Talking of Pakistan, here is another interesting and disturbing article.

Energy crisis may cripple Pakistan by 15th

ISLAMABAD: The country may plunge into the worst imaginable energy crisis as virtually all refineries are teetering on the verge of financial default and may close down operations by Jan 15.

All the oil refineries of the country, currently working on a negative gross revenue margin, and with their borrowing limits already exhausted, are likely to shut down within the next two weeks following their expected default to retire the existing L/Cs to import crude oil. The shutdown would mean no oil supplies for thermal power generation plants and the picture turns outright dark.

This harrowing scenario of the looming crisis was given to The News by a senior functionary of the Ministry of Petroleum and Natural Resources, speaking on condition of anonymity.

The functionary said that after generating over Rs 85 billion from banks by marketing TFCs (Terms Finance Certificates), the circular debt has again started to haunt all the players involved in the energy sector.

“Some players in the energy sector, including Oil Marketing Companies (OMCs) and refineries have termed the Pakistan Electric Power Company (Pepco) responsible for the monster of circular debt, which has surfaced again, saying this is the most disorganised company which failed to pay the dues of PSO which have amounted to Rs69.7 billion,” the source said, adding: “The refineries have also informed the government that they will not be able to get fresh loans to continue functioning, as their borrowing limits have already been exhausted.”

The functionary further said that the refineries faced with losses had not being paid Rs 60.1 billion by the government owned entity Pakistan State Oil and that the refineries have warned the government that in the event of the non-payment of their dues their operations will be closed down “because of the liquidity crisis and, moreover, their equity too would be wiped out.”

The ministry functionary told The News that officials of the Ministry of Finance have held three to four meetings with representatives of the refineries and PSO and hopefully their outstanding issues would be resolved within a week.

According to latest available figures, the Pakistan State Oil (PSO) needs to pay Rs 25.5 billion to the Pak-Arab Refinery Company (PARCO), Attock Refinery Limited (ARL), Rs 11.2 billion; Pakistan Refinery Limited (PRL), Rs 11.2 billion; National Refinery Limited (NRL) and Bosicar, Rs 4.1 billion. Currently all the refineries are only working at 50 per cent capacity.

Meanwhile, the PSO, itself suffering at the hands of others, has reportedly conveyed to Pepco, Hub Power Company (Hubco) and Kot Addu Power Company (Kapco) that their orders for fuel will not be entrained if they did not clear the huge dues of PSO which now amount to approximately Rs69.7 billion.

The PSO sources insisted that the entities have the capacity to clear their dues. In case the feared closure of all the refineries does take place by January 15, then the oil supply to country’s thermal power plants will be severely curtailed, compounding the already severe power shortage crisis in the country.

The sources in the refineries said that their capacity to import the crude oil has dwindled to almost zero and if their outstanding dues are not cleared then the government’s sovereign guarantee would be required to restore the import of crude oil.

When contacted, Finance Minister Shaukat Tarin said that no doubt that the refineries are on verge of default, but Prime Minister Syed Yusuf Raza Gilani has convened the meeting on the issue any time in next week.

Asked if circular debt has surfaced again that has started choking the oil supply chain to power thermal houses, as refineries have asked the government that they are going to close their operations by January 15 in the wake of no cash flows which is why they are unable even to further import crude oil, Mr Tarin said: “Earlier, we have managed over Rs85 billion through TFCs to break the vicious cycle of circular debt once for all, now this monster of Rs70 to Rs90 billion has again emerged just because of the inability of Pepco, which should collect its revenue on its own and does not rely on the government. Pepco should take its dues from the Sindh government and KESC, and should not remain in ‘comfort zone’.
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[nitroglycol]

Re: My Lunch with the CIA

Interesting (BTW, here's a link). If I was the Pakistani government, and couldn't afford to bail out the refineries, I'd be dropping subtle hints with the Americans about what throwing Pakistan into chaos would do to the Afghan war effort...

[MulaMan]

Re: My Lunch with the CIA

The CIA is a worthless institution, we would better off dumping them all in the delaware and starting again.

Our CIA has become a self-serving arm (politcial capture again) of the Defense Industry (revolving door) just as much as of congress has become a Wall-Street revolving door.

A guy walks into a CIA office..."I'm the CEO of the country's largest bank and believe that my son is going to commit a terrorist attack against America"

....same guy's son boards a flight with cash only ticket, one way ticket, no luggage, no destination hotel booked, ...

[iyamwutiam]

Re: My Lunch with the CIA

Before any one starts with the not 'another' conspiracy theorist. I just wish to say -as others -does it not strike you ass odd the stinking coincidence of two failed bombers using the same exact methodology -years apart of two disturbed vulnerable individuals who were basically broadcasting their intent -ending up with two spectacular failed attempts (spectacular because it was just so stoopid -and the bombs so totally not going to do any real damage) -at times that are coincidently always occurring when American people's support for this idiotic war/s is wearing thin.

When it comes to the stock market -everyone sees logic where there is none -but use logic in other spheres -and OMG -you get a flood of 'tin foil' hat replies.

[lakedaemonian]

Re: My Lunch with the CIA

Before any one starts with the not 'another' conspiracy theorist. I just wish to say -as others -does it not strike you ass odd the stinking coincidence of two failed bombers using the same exact methodology -years apart of two disturbed vulnerable individuals who were basically broadcasting their intent -ending up with two spectacular failed attempts (spectacular because it was just so stoopid -and the bombs so totally not going to do any real damage) -at times that are coincidently always occurring when American people's support for this idiotic war/s is wearing thin.

When it comes to the stock market -everyone sees logic where there is none -but use logic in other spheres -and OMG -you get a flood of 'tin foil' hat replies.

Genuine, and unfortunately successful, transatlantic flight bombings have precedent:

http://en.wikipedia.org/wiki/Air_India_Flight_182

Then there's the still unexplained and quite recent loss of:

http://en.wikipedia.org/wiki/Air_France_Flight_447

Actually, I see substantial differences between Air India 182, the Shoe Bomber, and now the underwear bomber....the biggest being the underwear bomber waiting until he was overland to attempt to detonate.......some might consider it a small detail....but how many people even heard of Air India Flight 182 blowing up over water? Same goes for the shoe bomber's attempt....over water.

It's not very terrifyingly high profile if no one can "see" the damage or even know about it.

It's like the 7/7 bombers........three underground to kill folks, and 1 in a doubledecker bus for the news....since the detonations in the London tubes aren't exactly the stuff of a Jerry bruckheimer-esque front page news photo.

As far as methodology......if it works or almost works, maybe try it again until it does...it's not like they were using their Pro Bowlers was it?

And as far as your insinuation of it being committed by or on behalf of government to boost civilian support......does that take into account the less high profile, but very real, attempts to commit crimes that go under-reported?

[Shakespear]

Re: My Lunch with the CIA

I can read English but I must be missing something here

The only person convicted of involvement in the bombing was Inderjit Singh Reyat, who pleaded guilty in 2003 to manslaughter in constructing the bomb used on Flight 182 and received a five-year sentence. He was refused parole in July 2007.

5 years ???????????????? :eek::eek::eek: Insanity !!!

[nitroglycol]

Re: My Lunch with the CIA

Yeah, it is. Reyat copped a plea bargain in return for his testimony against a couple of other conspirators... but his testimony didn't result in any convictions. One has to wonder how seriously the prosecutors took their jobs... and if they'd have handled the case differently if it was a planeload of white people that got bombed.

[flintlock]

Re: My Lunch with the CIA

I also remember some Russian planes exploding in midair back after 9/11. Only the F-ups seem to make the news. The others go barely noticed.

[thriftyandboringinohio]

Re: My Lunch with the CIA

The long term outlook for supplies of food, natural resources, and energy is becoming so severe that the CIA is now viewing it as a national security threat.

Too many monkeys on the rock.

[lakedaemonian]

Re: My Lunch with the CIA

In August 2004 a TU134 and a Tu154 leaving from the same airport were both lost when leaving a Moscow airport at nearly the same time.

Both lost to bombing.

6 months after the Moscow Metro Bombings.

And weeks prior to the Beslan Massacre.

Some have accused Putin and his regime of invovlement in the Metro and Airline bombings.

My opinion is the same as with the underwear bomber.......less likely than more likely.

[Verrocchio]

Re: My Lunch with the CIA

As far as methodology......if it works or almost works, maybe try it again until it does...

Salient point. Repeated attempts at the same targets, often using the same method, is either part of their modus operandis or due to a lack of imagination. The most notorious example is the attack on the World Trade Center in September 2001, which followed an earlier, failed attempt to bring them down.