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NEWS ARTICLE from The Telegraph, 9-12-07, By Tim Butcher

``US confirms Israeli air strike on Syria

TEL AVIV -- A US official has confirmed that Israeli warplanes carried out an air strike "deep inside" Syria, escalating tensions between the two countries.

The target of the strike last Thursday remained unclear but Israeli media reported that a shipment of Iranian arms crossing Syria for use by the Iranian-backed Hezbollah militia in Lebanon was attacked.

Syria first reported the incident on the day, saying its air defences had engaged five Israeli planes, but did not say what their target was. Israel remained uncharacteristically silent, pointedly refusing to deny that its warplanes were involved in an operation.

The closest it came to acknowledging the affair happened was when it made an undertaking to Turkey to investigate how an Israeli long-range fuel tank was dropped on Turkish territory near the Syrian border ...

Syria and Israel have fought major wars on three occasions, in 1948, 1967 and 1973, as well as numerous other skirmishes. The two nations remain formally at war although an uneasy calm has largely held for the past three decades ...''

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NEWS ARTICLE from, 9-12-07, By Chuck Simpson

``Is USAF Stand Down To Find A Missing Nuke?

Someone, operating under a special chain of command within the United States Air Force, just stole a nuclear weapon.

Some History

Barksdale Missile Number Six deserves far more public attention than it's received to date. Missile Number Six is potentially the major story of at least this year. Until 1968 under the Airborne Alert Program, informally called Operation Chrome Dome, the Air Force routinely kept about a dozen strategic bombers with nuclear weapons flying at all times.

One predictable result was crashes and incidents. In 1968 the Department of Defense published a list of 13 serious nuclear weapons accidents that occurred between 1950 and 1968. In 1980 the list was revised to include 32 incidents through that year. Notably, the Pentagon has not acknowledged any accidents since 1980.

This alone highlights the importance the Pentagon is placing on the recent transportation of nuclear weapons from North Dakota to Louisiana. Through 1968, several reported incidents involved plane crashes or malfunctions, beginning with the crash of a B-29 near Fairfield, California in August 1950. The resulting blast was felt 30 miles away.

In July 1950 a B-50 crashed near Lebanon, Ohio. The high-explosive trigger for the nuclear weapon detonated on impact. The blast was felt over 25 miles away. In May 1957 a nuclear weapon fell from the bomb bay of a B-36 near Albuquerque, New Mexico. Parachutes malfunctioned and the weapon was destroyed on impact.

In October 1957 near Homestead, Florida a B-47 crashed. The nuclear weapon was burned. In March 1958 a B-47 accidentally dropped a nuclear weapon near Florence, South Carolina. The high-explosive trigger detonated on impact. In November 1958 a B-47 crashed near Abilene, Texas. The trigger of the nuclear weapon exploded upon impact.

In July 1959 a C-124 crashed near Bossier City, Louisiana. Both plane and nuclear weapon were destroyed. In October 1959 a B-52 with two nuclear weapons was involved in a mid-air collision near Hardinsburg, Kentucky. One weapon partially burned. In January 1961 a B-52 broke apart in mid-air near Goldsboro, North Carolina. Two nuclear weapons were released. The parachute on one weapon malfunctioned, and contamination was spread over a wide area. The uranium core was never recovered. Daniel Ellsberg reported that detonation was a very real risk because five of six safety devices failed.

In that month near Monticello, Idaho a B-52 carrying nuclear weapons exploded in mid-air. No information was made available as to the weapons. In March 1961 a B-52 with two nuclear weapons crashed near Yuba City, California. In January 1964 a B-52 carrying two nuclear weapons crashed near Cumberland, Maryland. In January 1966 a B-52 carrying four hydrogen bombs crashed after a mid-air collision near Palomares, Spain. Two weapons exploded on impact, with resulting plutonium contamination. A months-long program was undertaken to locate and extract the other two weapons from the ocean.

Major policy changes were taken under consideration. In January 1968 a B-52 carrying four hydrogen weapons crashed and burned near Thule AFB in Greenland. Explosives in one bomb detonated, spreading plutonium contamination. Apparently, the other three weapons have never been accounted for. Following large public protests Denmark, which owns Greenland and prohibits nuclear weapons on or over its territory, filed a strong protest. A few days later the Secretary of Defense ordered the removal of nuclear weapons from planes.

After that order was issued, all aircraft armed with nuclear weapons were grounded but kept in a constant state of alert. In 1991 by Presidential order, nuclear weapons were removed from all aircraft. Bomber nuclear ground alerts, during which nuclear weapons are loaded onto bombers during test and training exercises, were halted.After that time, all nuclear weapons to be delivered by plane were permanently maintained in secure storage facilities.

August 30, 2007

All of which makes the transport of nuclear weapons in combat position on a combat plane so newsworthy. On August 30, for the first time since 1968, nuclear warheads in combat position were carried by an American bomber. Numerous international treaty provisions were violated in the process.

That Thursday, a B-52H Stratofortress flew from Minot AFB in North Dakota to Barksdale AFB in Louisiana while carrying twelve cruise missiles. Either five or six of those missiles were armed with nuclear warheads ...

Nuclear Warheads

The AGM-129 was specifically designed to deliver a W-80 nuclear warhead. The W-80 weapon has a variable yield capability, of 5 to 150 kilotons. For comparison purposes, the bomb used on Hiroshima was 13 to 15 kilotons, or equivalent to 13,000 to 15,000 tons of TNT explosive.

News Stories and Flawed Explanations

The story of the B-52 flight was first reported by Army Times, owned by Gannett, on Wednesday September 5. Gannett relied on information provided by "anonymous officers".

The story was picked up by Yahoo Wednesday morning, published by USA Today and The Washington Post, and then quickly spread. In response, the Pentagon quickly spread an official explanation.

The Air Force admitted to an inadvertent error: The intent was to transport ACMs without weapons. According to military officers, the nuclear warheads should have been removed before the missiles were mounted on the pylons under the wings of the bomber.

In the words of the Pentagon: "There was an error which occurred during a regularly scheduled transfer of weapons between two bases. The weapons were safe and remained in Air Force control and custody at all times." For almost the first time in the history of the nation, the military has publicly and promptly admitted it "made a mistake". This in itself is truly astounding.

To reinforce the military's claim that a mistake was made, a system-wide stand-down was ordered for September 14 [2007]. That official explanation was quickly explained away. The mistake was made intentionally, so a "deliberate leak" of a secret operation could occur.

The CIA and the Office of Counter-Terrorism in the State Department explained that Barksdale AFB is a "jumping off point" for re-supply of the Middle East. The "deliberate leak" was intended to serve as a veiled warning to Iran.

This deliberately misleading explanation is evidently intended to lead the public or Iran or both to logically conclude the missiles are bound for Iran. Bluntly, State and the CIA converted a whistleblower leak by true American patriots into a deliberate leak by official Washington, to scare Iran.

By this means Washington has led the public to forget or overlook the real issue. To begin, the multiple official explanations reek to high heaven. They collectively read suspiciously like flimsy cover stories concocted in hasty desperation ...

Transportation Violations

More conflicting explanations followed. These missiles are part of a group scheduled to be decommissioned. This would explain why they were shipped out of North Dakota. But the missiles were not transported on their way to decommissioning.

Missiles are normally decommissioned at Davis-Monthan AFB at Tucson. Nuclear weapons are decommissioned at the Department of Energy's Pantex facility near Amarillo, Texas, accessed through Kirkland AFB in New Mexico. And military policy requires minimization of the number of flights made with nuclear weapons aboard. So the weapons should not have been mounted on the missiles, flown to Louisiana, un-mounted and flown to New Mexico.

The mode of transportation is also a major issue not defused by official explanations. Per standard operating procedures, or SOPs, both missiles and nuclear warheads are transported primarily by air, in specially modified C-130s or C-17s. Under no peacetime circumstances do military SOPs allow transport of nuclear weapons mounted in cruise missiles mounted in combat positions on combat planes.

Department of Defense Directive Number 4540.5, issued on February 4, 1998, regulates logistic transportation of nuclear weapons. By delegation of Commanders of Combatant Commands, movement of nuclear weapons must be approved by commanders of major service commands. Commanders of Combat Commands or service component commanders must evaluate, authorize and approve transport modes and movement routes for nuclear weapons in their custody.

The Air Force is required to maintain a Prime Nuclear Airlift Force capability to conduct the logistic transport of nuclear weapons. Under SOPs, combat planes with combat-ready nuclear weapons can only be flown on the authority of the Commander in Chief, the Joint Chiefs of Staff or the National Military Command Authority.All of these transportation regulations were flagrantly violated on August 30.

Handling Violations

Violations of regulations concerning handling of the nuclear weapons in North Dakota are worse. A sophisticated computerized tracking system is used for nuclear weapons. Multiple sign-offs are required to remove the weapons from their storage bunkers. The AGM-129 Advanced Cruise Missile was designed to carry nuclear weapons. No non-nuclear warhead is available for this missile. So the only possible error could have been loading nuclear warheads on the missiles instead of practice dummies.

The practice warheads have standard blue and yellow signs declaring "Inert, non-nuclear". The nuclear warheads have at least three distinctive red warning signs. This error is therefore highly improbable, absent tampering with signage.

Nuclear weapons are transported from the storage bunker to the aircraft in a caravan that routinely includes vehicles with machine guns front and rear and guards with M-16s. All steps in the process are done under the watchful eyes of armed military police.

Rules require that at least two people jointly control every step of the process. If one person loses sight of the other, both are forced to the ground face-down and temporarily "placed under arrest" by observant security forces.

All progress stops until inspections are made to assure the weapons weren't tampered with. All nuclear weapons are connected to sophisticated alarm systems to prevent removal or tampering. They could only be removed from the storage bunker by turning the alarm off. And the squad commander clearly would not have authority to turn off the alarm.

The Impossible Mistake

Bluntly, the mistake of loading nuclear weapons on a combat aircraft in combat-ready position is simply not possible to make. Safeguards are far too stringent and far too many people would be involved.

Particularly given that the mounting was in violation of policy that's been in place without exception for almost 40 years. No discipline is expected to be meted out. The New York Times tried to imply the commanding general had been fired. Actually, the squad commander in charge of munitions crews at Minot was "relieved of duty pending an investigation". He has not been removed from his position or disciplined. The crews involved have been "temporarily decertified pending corrective actions or additional training" but have not been disciplined. No mention has been made of the wing commander. Note carefully: These actions amount to nothing at all. The wing and squad commanders are still in place and the crews can easily be re-certified.

Successful Confusion

Washington's efforts to confuse the public have been successful. Attention has shifted from the crucial issue. This news has already become non-news. The August 14 stand-down will momentarily become news, followed by announcements of more stringent restrictions, improved safeguards and additional training. The public always has been and always will be safe.

One of the major issues will be avoided: Someone in an irregular chain of Air Force command authorized loading and transport of nuclear weapons. And that would never have been done without a reason. Given the magnitude of regulatory violations involved, the reason must be extremely important.

The paramount issue will be avoided, if necessary with repetition of the reassurance that the Air Force was in control at all times. The weapons were only missing during the 3.5-hour flight.

At Barksdale, the missiles were considered to be unarmed items headed for modernization or the scrap heap, and of no particular importance. They were left unguarded for almost ten hours. According to one report, almost ten hours were required for airmen at Minot AFB to convince superiors that the nuclear weapons had disappeared.

According to information provided to Congress, this time lapsed before airmen at Barksdale "noticed" the weapons were present. News reports will continue to overlook this fact also. Even here the focus is on time. The number of missiles and warheads issue was overlooked.

Early news reports spoke of five nuclear warheads loaded onto the bomber. Apparently, this information was provided from Barksdale. That number was later updated to six weapons missing from Minot, apparently based on anonymous tips provided to Military Times by people at Minot.This information has also been forgotten.


Six nuclear weapons disappeared from Minot AFB in North Dakota. Five nuclear weapons were discovered at Barksdale AFB in Louisiana. Which leads to my chilling conclusion: Someone, operating under a special chain of command within the United States Air Force, just stole a nuclear weapon.

What next? The answer has been provided several times, most recently by CIA Director and General Michael Hayden. On September 7 [2007], dressed in full military uniform, Hayden told assembled members of the Council of Foreign Relations: "Our analysts assess with high confidence that al-Qaida's central leadership is planning high-impact plots against the U. S. homeland." "We assess with high confidence that al-Qaida is focusing on targets that would produce mass casualties, dramatic destruction and significant aftershocks."

An eye for an eye.

Use of nukes will justify use of nukes. A perfect excuse to wage nuclear war against Iran. I suspect Hayden is absolutely correct, except for his mistaken identification of the "central leadership" that is planning detonation of a nuclear weapon on American soil.''

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Commentator 2 wrote on 9-13-07:

``... seriously, folks - how could the actual number of warheads be overlooked in the press, till now?

Early news reports (CNN) spoke of five nuclear warheads. That number was later updated to six weapons missing from Minot, apparently based on anonymous tips provided to Military Times by people at Minot.

Conclusion: Six nuclear weapons left from Minot AFB in North Dakota but after a night *unguarded* on the tarmac in Louisiana, only five nuclear weapons were discovered there at Barksdale ...

Methinks the Administration's (mysterious) hatred for New Orleans has not been appeased thus far. A nuke would finish the job, so that the entire area is not worth rebuilding ...

Not to mention, a perfect excuse to wage nuclear war against Iran.


Commentator 8 wrote:

... this issue is so important that it needs to be resolved. If true, it means the government not only can't be trusted to tell the truth, is incompetent at basic levels, which are no surprise, but that it might be involved in terrorist acts in the US ...


Commentator 2 wrote:

I absolutely agree with you, that this incident demands a thorough and open investigation at the highest levels ...

All anyone wants (any sane citizen) is the undigested and unpolished truth, good or bad. To me, this 'missing nuke' is but a continuation of an underlying false-flag master plan which earlier knew-of and abetted (but did not cause) the 9/11 tragedy.

But still ... as to the issue of "government trust" ... and assuming most of Government are indeed patriots at heart - what can possibly give the impression that an administration which spends well over one billion dollars yearly on payments to PR firms (this should be banned!!) in order to slant news its way ... cares anything about unvarnished truth, or real openness ?

Any truth in the 'missing nuke' story, if it does exist, will have to be forced down the throats of the Administration, patriots or no. They will not cooperate in any way, since even the 99% of them who are honest patriots, probably suspect that some of their own are already involved.

Thankfully that kind of official hush-hush and split motivation, and a few well-timed defections, is what ultimately brings down every 'evil empire'...


Commentator 2 wrote:

Begging the question ... what was the target out there in the Syrian desert?

Hmmm. Of all the the strange theories - there is the "North Korea" link...

This was cited by the New York Times, quoting the former US ambassador to the UN, the infamous John Bolton, who raised the possibility that Syria purchased technology and possibly a bomb or bomb materials from North Korea's (now abandoned) nuclear program. NK is a country on the verge of collapse and they need every last penny they can get hold of.

The suggestion is that the N. Korean designed weaponry was heading to Hezbollah in Lebanon, via Iran and Syria, to be used against Israel.

Israel has long complained that the Damascus government is turning a blind eye to such weapons supplies coming from Iran. Perhaps Israel decided to send a message that Syria and the Iranians would understand ...

It would also spare Korea the embarrassment of its bomb being a fizzler, as the last one was. In fact, there is the possibility that N. Korea, once they had been paid handsomely, tipped-off the Israelis (for another small fee) so that their own ineptitude in building another fizzler would not need to be discovered.

Some Prince in Arabia financed the whole deal and hoped to recoup his investment with the short-option, aka: "Bin Laden" trades ...

To the optimist, it appears possible that a second "false flag" operation has been uncovered and thwarted, just in time, due to a whistle blower in North Dakota, and that a planned "terrorist" nuclear attack in the USA will not happen as planned (to provide secondary justification for the bombing of nuclear facilities in Iran).

Originally, as mentioned - six WP80-1 Nuclear Warhead equipped Advance Cruise Missiles were flown to Barksdale Air Force Base, yet later reports claimed only five were discovered on the plane, which had been left unguarded during the night for over 10 hours. There are a number of Islamic workers and soldiers at this base.

Since this missile was designed ONLY for nuclear warheads, then there is no conventional alternative warhead available to provide an easier visual "excuse" ... and the "dummy" or practice warhead, apparently is so vastly different in appearance and clearly marked that even a PFC (or a General), can distinguish the two ...

Were the nuclear warheads, if the cover had not been broken, intended for two linked deployments: a attack within America, possibly to be blamed on "al Qaeda supported by Iran" followed by an instant nuclear counter-strike on Iran?

BTW - in Louisiana, there are nine or more rather convenient "scapegoats" in the New Orleans area which could have been blamed for the "terrorist" nuke, had the original cover not been breached: the most likely being the Masjid Abu-Bakr Al-Siddiq Mosque in Metairie which has a number of Pakistani members, with supposed skills needed to pull this off ...


On 9/13/07, Commentator 2 wrote:

Some Prince in Arabia financed the whole deal and hoped to recoup his investment with the short-option, aka: "Bin Laden" trades.

Commentator 9 wrote:

Or some company in Dubai . . .

Anyway, some people are noticing:

Stand Down and Broken Arrow . . . baaaad combination.

BTW, was there a stand down active on 9/11/2001?


Commentator 11 wrote:

List from ... :

There are ominous portents all over the landscape just now, indicating that something big is in the offing:

1. The impending and unprecedented Air Force Stand-Down ordered for this Friday [9-14-07], together with numerous civil defense "drills" scheduled during the coming week throughout America, not to mention war drills scheduled throughout the world.

2. The canceled El Al (Israeli) flight schedule for Friday [9-14-07] through Sunday [9-16-07] (yes, the front end of the Jewish high, holy days, but that is not the point or the cause, rest assured).

3. The mysteriously meandering nuclear missiles that illegally flew cross-country suspended under wing on a bomber, not just as freight, which our government now claims was the result of an error (yeah, right, an error involving 5 nuclear missiles ... or was that 6 and now one is missing, as some claim?).

4. The Fed meeting scheduled for next Tuesday ...

5. That just-released, already-proven-phony Bin Laden videotape (yes, Virginia, he died several years ago, just as then was reported upon extensively in the Arabic-language press but suppressed in the West, as so much is suppressed here).

6. That "accidental" emergency alert triggered in Illinois this morning. [9-13-07]

7. Bush straining with everything he's got ...

8. Israel claims, suddenly, to have discovered nuclear installations in Syria.

9. Oil is about to breach $80 per barrel.

10. Dick Cheney's "gut feeling" that America's next terrorist attack "will be nuclear."

11. Michael Chertoff's "gut feeling" that America "will soon be hit hard."

And my own 12: Billions of dollars bet as seen on 911, huge masses of money counting on US stocks (SP 500) going down, fast ...

However one simple truth is that such a plan only works if there is enough of an appearance it isn't a false flag operation.

So if word gets out enough that such an attack is likely and it will be from the US Government, it seemingly would swiftly do no good at all.

So even if you only give this a slim chance of occurring do post this to other lists to make that chance even slimmer ...


Commentator 9 wrote:

Stand Down and Broken Arrow . . . baaaad combination.

BTW, was there a stand down active on 9/11/2001?


Commentator 10 wrote:

Yes. (Supposedly.) It was ordered by Dick Cheney.

Or at any rate, so I have read and heard. It is a tangled web; it seems that there was an "exercise" on the morning of 11 September [2001]. For whatever reason, in order to avoid complications in the exercise, Cheney had Norad "stand down". Previously -- up until some time in 2000 or early 2001 -- day to day control of Norad was vested in .. oh I forget, some military guy.

But some time in 2001, control was moved to the office of the Vice President. One action the VP took was to order a stand down on 9/11. One consequence, supposedly, is that the airliners hitting the WTC got through unhindered ...

There's a catchy little song about it, too -- "Cheney's in the bunker" -- an underling keep asking him if the orders "still stand" as the planes are approaching the WTC ...


Commentator 10 wrote:

Here's the part with the quote that's used in the song "Cheney's In the Bunker", and which makes it so hard for those of us who want to believe the Official Story:

[Secretary of Transportation] Mineta testified that at 9:20 that morning [9-11-01], he went down to the shelter conference room (technically the Presidential Emergency Operations Center) under the White House, where Vice President Cheney was in charge. Mineta then said:

During the time that the airplane was coming in to the Pentagon, there was a young man who would come in and say to the Vice President, "The plane is 50 miles out." "The plane is 30 miles out." And when it got down to "the plane is 10 miles out," the young man also said to the Vice President, "Do the orders still stand?" And the Vice President turned and whipped his neck around and said, "Of course the orders still stand. Have you heard anything to the contrary?"

When Mineta was asked by Commissioner Timothy Roemer how long this conversation occurred after he arrived, Mineta said: "Probably about five or six minutes," which, as Roemer pointed out, would mean "about 9:25 or 9:26." According to the 9/11 Commission, no one in our government knew that an aircraft was approaching the Pentagon until 9:36, so there was no time to shoot it down. But the Commission had been told by Mineta that the vice president knew at least 10 minutes earlier, at 9:26 ...''


On 9-17-07, Commentator 12 wrote:

``In an effort to get more background on the Bin Laden Trades, I've ordered the 2 books mentioned below.

I guess we are still in danger of a false flag attack. By what time on 9-21-07 must the Short Seller deliver the stock?


"Crossing the Rubicon: The Decline of the American Empire at the End of the Age of Oil," by Michael C. Ruppert

[On the web see]

``The Age of Turbulence: Adventures in a New World'' by Alan Greenspan

Book Description "In the immediate aftermath of September 11, 2001 ..."''


Commentator 13 wrote:

``I'm not so sure a false flag attack is even needed.

The Lieberman amendment which passed the Senate 2 months ago, 97-0, asserted that Iran has been murdering our servicemen in attacks within Iraq and that this is unacceptable. That may give the administration all they need to justify a pre-emptive attack on Iran at this time. (The amendment contained one sentence asserting that it was not in itself a justification for attacking Iran, but the remainder of the text sure /sounded/ like a justification for an attack.)

A war with Iran, whether it's preceded by an attack on the U.S. or not, would probably tank the market.


On Sep 17, 2007, Commentator 12 wrote:

By what time on 9-21-07 must the Short Seller deliver the stock?


Commentator 14 wrote:

It depends on the exchange on which it was written and traded. You may be referring to FTSE (London) options, which would (I think) expire late Friday morning EST. For the US see:


Commentator 12 wrote:

From that website, it appears the market has to tank before 4 pm EST on Friday.

With US carrier groups concentrated around Iran, this is a rare opportunity for the Chinese to do a lightning occupation of Taiwan. It looks like they have the necessary ability to disrupt US communications.


Commentator 15 wrote:

Date: Mon, 17 Sep 2007

Subject: six people from Minot Airforce base dead within the last 7 days

Minot Base Officials Say Airman Dies While On Leave

On 12 Sep 2007 The Minot Air Force Base said an airman has died while on leave in Virginia. Airman First Class Todd Blue, who was 20 years old, died Monday while visiting with family members. The statement did not say how he died.''


[Cicero: "Quo usque tandem abutere patentia nostra Catalina?" -- end of our republic? -- Montesquieu: "Rome's decline was the result of its conquests." -- or are we just some wannabee Rome, duped by the Oil Gang?]

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EDITORIAL from The Morning Journal, 9-17-07

``Military, government's computer security must outpace Chinese hackers

Chinese military computer hackers are suspected behind recent attacks on networks at the Pentagon, in top German and British government offices, and even the British Parliament.

It would be good to see more public concern expressed and to hear forceful calls for hack-proof security on Uncle Sam's computers and those of our allies, as well as the backbone of the Internet itself.

Unfortunately, the Chinese attacks have stirred relatively little news interest, with so much public and press attention focused on the Iraq war, the 9/11 anniversary and Osama bin Laden's comeback as a TV talking head.

China's latest assault on the Pentagon in June showed they are the best and most aggressive at cyberwarfare of any nation. We have been given a ''wake up'' call that we can't afford to ignore, according to recent examinations of the situation by the Financial Times and Christian Science Monitor ...

One big reason for China to be pumping up its cyberwar muscles sits roughly 100 miles off the Chinese coast; it is Taiwan. For nearly 50 years, China has wanted to swallow up Taiwan, which the U.S. is pledged to protect.

Now, the news accounts indicate, if Chinese military hackers can suddenly disrupt and degrade the Taiwanese and U.S. military's ability to react for even a crucial several hours, that could give the Chinese military time to swoop down and grab control of Taiwan before the static clears.

Much of America's military strength lies in our high-tech weapons and communications systems, but they become our weakness if we can't keep them operating.

An enemy who would not dare take on our military at its full high-tech strength would first want to throw digital sand in our eyes to blind us then strike hard and fast before we could recover our edge. That is what we must prevent. That is what China appears to be working toward to serve its interests or the interests of any other nation hostile to the United States that China might help.''

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ARTICLE from The Irish Independent (Ireland), 9-19-07, By David McWiliams

``Roots of the credit crisis ,,,

Driving past Northern Rock's Dublin [bank] office just off Harcourt Street yesterday, I thought the queue of concerned depositors is reminiscent of scenes from the Great Depression ...

Where do you start to explain the Northern Rock debacle? In the old days it was simple: if a bank got into difficulties it was because depositors believed that something was fishy with the management -- they might be trousering the deposits and spending them on speculative assets that were prone to crises.

Now, however, with global markets interlinked in a 24/7 world of enormous capital markets, the security of your deposit can have as much to do with geo-political events as bad management.

This new interconnected world also means that events in one part of the world can have bizarre and worrying effects on seemingly unconnected places ...

Where were you when you heard about the Twin Towers? Did you ever think that one of the most unexpected impacts of the September 11 [2001] attacks would be ... deposit crises and ridiculous house prices? ...

Every time you fill up at the pump, do you ever think about where the cash goes? Obviously, much of it ends up in the hands of the oil producer after all the others take their cut, particularly the tax man. Since the attack on the Twin Towers, and particularly since the occupation of Afghanistan and Iraq, the price of oil has increased from $23 peaking above $80 a barrel. At the time of [this] writing it is $78.

Arab oil producers benefit from a huge windfall as millions of Western drivers hand over cash to the sheiks ...

The best way to gauge just how much of your cash has ended up in the Gulf ... is to look at the foreign reserves of the region. The IMF calculates that the balance of payments of the Gulf went from a $30 billion surplus on the eve of September 11 to $212 billion last year [2006]. The crucial oil-trade balance has rocketed from $159 billion to $451 billion ...

But because the Gulf states are small places, they can't absorb all this cash and the money has to go somewhere. It can't all be spent in the Gulf ...

Because the Gulf states have pretty modest economies (Saudi Arabia is a smaller economy than Denmark), the bulk of the petro-cash, as happened in the 1970s, has gone back out into the world economy, looking for a profitable home.

All this recycled cash has had the effect of keeping world interest rates lower than they would otherwise be ... Irish banks and the likes of Northern Rock have been ... borrowing Arab money and then lending it out here to finance the last phase of the property boom which is now peaking.

Figures from the Central Bank reveal that our dependence on this foreign money is now verging on the addictive. Over four euros in every 10 lent to you and me is now borrowed directly by the Irish banks from foreigners [including the Chinese] . Who says we're not living beyond our means? We are now hooked on oil money.

The extremities of the Irish housing market were receiving cash, not because they are great investments, but because the surplus cash has to find a home somewhere.

Ultimately, the wisdom of the investment is based on the underlying strength of the system and the ability of banks like Northern Rock to lay off this risk.

Like a bookie, the banks lent the money to people who wouldn't normally get money in a month of Sundays. They then rolled all these loans into one special product and sold it on to the international financial markets ...

These new financial instruments are called "mortgage-backed securities". The underlying assumption was that people do not default on their mortgage ...

Northern Rock were therefore not financing their mortgages out of deposits as was the traditional way. It was basing its ability to continue financing new business on the appetite of financial gurus for these so-called mortgage-backed securities.

In August [2007], following widespread defaults on mortgages in the US, this market seized up. Contrary to what the banks thought, hard-pressed families do in fact default on their mortgages. When they did, due to higher interest payments and unemployment in the US, the financial markets ran scared. They ceased to finance the likes of Northern Rock, who were playing this game and the bank found itself with a serious credit crisis.

[Northern Rock] applied to the Bank of England for an emergency loan and the ordinary depositors smelled a rat ... The Northern Rock fiasco reveals just how precarious the international financial system is ...''

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[Bin Laden Trades Update]

By Barbara Starr, CNN, 10-18-07

``WASHINGTON (CNN) -- The Air Force will recommend the firing and disciplining of several service members involved in the mistaken flight of nuclear warheads across the country in August [8-29-07], according to a military official familiar with the investigation ...''

Commentator 16 wrote:

``They have been killed not fired.

Here's a list of all the Servicemen that have mysteriously and coincidentally died in "accidents" in the two weeks following their involvement with the impossible accidental transport of nuclear warheads on in combat ready position:

Todd Blue, Airman First Class 20 Minot AFB, ND September 12: while on leave Monday visiting with family members in Virginia.

Adam Barrs, Airman 20 Minot AFB, ND was a passenger in a vehicle that failed to negotiate a curve, hit an approach, hit a tree and started on fire late Tuesday night.

Stephen Garrett, Airman 20 Minot AFB, ND driving the vehicle that failed to negotiate a curve, hit an approach, hit a tree and started on fire late Tuesday night.

1st Lt. Weston Kissel Pilot - 23rd Bomb Wing 28 Minot AFB, ND killed in a motorcycle crash in Tennessee while on leave, the base said.

Clint Huff, Senior Airman 29 Barksdale AFB, LA was driving a 2007 Harley Davidson motorcycle with his wife, Linda Huff, as a passenger. attempted to pass a van on the left in a no passing zone and they collided.

Capt. John Frueh, Air Force Captain 33 Minot AFB, ND September 9 [2007]: The body of a missing Air Force captain from Florida has been found near Badger Peak in northeast Skamania County, Wash.''


COLUMN from, 9-24-07, By Wayne Madsen

``B-52 Nukes Headed for Iran, Not For Decommissioning:

Air Force refused to fly weapons to Middle East theater

WMR [Wayne Madsen Report] has learned from U.S. and foreign intelligence sources that the B-52 transporting six stealth AGM-129 Advanced Cruise Missiles, each armed with a W-80-1 nuclear warhead, on August 30 [2007], were destined for the Middle East via Barksdale Air Force Base in Louisiana.

However, elements of the Air Force, supported by U.S. intelligence agency personnel, successfully revealed the ultimate destination of the nuclear weapons, and the mission was aborted due to internal opposition within the Air Force and U.S. Intelligence Community ...

It is now apparent that the command and control breakdown, reported as a BENT SPEAR incident to the Secretary of Defense and White House, was not the result of a command and control chain-of-command "failures" but the result of a revolt and push back by various echelons within the Air Force and intelligence agencies against a planned U.S. attack on Iran using nuclear and conventional weapons ...

WMR has been informed by a knowledgeable source that one of the six nuclear-armed cruise missiles was, and may still be, unaccounted for. In that case, the nuclear reporting incident would have gone far beyond BENT SPEAR to a National Command Authority alert known as EMPTY QUIVER, with the special classification of PINNACLE.

Just as this report was being prepared, Newsweek reported that Vice President Dick Cheney's recently-departed Middle East adviser, David Wurmser, told a small group of advisers some months ago that Cheney had considered asking Israel to launch a missile attack on the Iranian nuclear site at Natanz. Cheney reasoned that after an Iranian retaliatory strike, the United States would have ample reasons to launch its own massive attack on Iran. However, plans for Israel to attack Iran directly were altered to an Israeli attack on a supposed Syrian-Iranian-North Korean nuclear installation in northern Syria.

WMR has learned that a U.S. attack on Iran using nuclear and conventional weapons was scheduled to coincide with Israel's September 6 [2007] air attack on a reputed Syrian nuclear facility in Dayr az-Zwar, near the village of Tal Abyad, in northern Syria, near the Turkish border. Israel's attack, code named OPERATION ORCHARD, was to provide a reason for the U.S. to strike Iran ...

WMR has learned from military sources on both sides of the Atlantic that there was a definite connection between Israel's OPERATION ORCHARD and BENT SPEAR involving the B-52 that flew the six nuclear-armed cruise missiles from Minot Air Force Base in North Dakota to Barksdale. There is also a connection between these two events as the Pentagon's highly-classified PROJECT CHECKMATE, a compartmented U.S. Air Force program that has been working on an attack plan for Iran since June 2007, around the same time that Cheney was working on the joint Israeli-U.S. attack scenario on Iran.

PROJECT CHECKMATE was leaked in an article by military analyst Eric Margolis in the Rupert Murdoch-owned newspaper, the 'Times of London', [It] is a program that involves over two dozen Air Force officers and is headed by Brig. Gen. Lawrence Stutzriem ...

CHECKMATE and OPERATION ORCHARD would have provided the cover for a pre-emptive U.S. and Israeli attack on Iran had it not been for BENT SPEAR involving the B-52. In on the plan to launch a pre-emptive attack on Iran involving nuclear weapons were, according to our sources, Cheney, National Security Adviser Stephen Hadley; members of the CHECKMATE team at the Pentagon ...

Although the Air Force tried to keep the B-52 nuclear incident from the media, anonymous Air Force personnel leaked the story to 'Military Times' on September 5 [2007], the day before the Israelis attacked the alleged nuclear installation in Syria and the day planned for the simultaneous U.S. attack on Iran ...

In another highly unusual move, Defense Secretary Robert Gates has asked an outside inquiry board to look into BENT SPEAR, even before the Air Force has completed its own investigation, a virtual vote of no confidence in the official investigation being conducted by Major General Douglas Raaberg, chief of air and space operations at the Air Combat Command.

Gates asked former Air Force Chief of Staff, retired General Larry Welch, to lead a Defense Science Board task force that will also look into the BENT SPEAR incident. The official Air Force investigation has reportedly been delayed for unknown reasons ...

WMR has learned that neither the upper echelons of the State Department nor the British Foreign Office were privy to OPERATION ORCHARD, although Hadley briefed President Bush on Israeli spy satellite intelligence that showed the Syrian installation was a joint nuclear facility built with North Korean and Iranian assistance. However, it is puzzling why Hadley would rely on Israeli imagery intelligence (IMINT) from its OFEK (Horizon) 7 satellite when considering that U.S. IMINT satellites have greater capabilities.

The Air Force's "information warfare" campaign against media reports on CHECKMATE and OPERATION ORCHARD also affected international reporting of the recent International Atomic Energy Agency (IAEA) resolution asking Israel to place its nuclear weapons program under IAEA controls, similar to those that the United States wants imposed on Iran and North Korea ...

NOTE: WMR understands the risks to informed individuals in reporting the events of August 29/30 [2007], to the present time, that concern the discord within the U.S. Air Force, U.S. intelligence agencies, and other military services. Any source with relevant information and who wishes to contact us anonymously may drop off sealed correspondence at or send mail via the Postal Service to: Wayne Madsen, c/o The Front Desk, National Press Club, 13th Floor, 529 14th St., NW, Washington, DC, 20045.''

Wayne Madsen is a frequent contributor to Global Research.

See Part 1


[Nymex oil futures peaked at an intraday high of $78.40 on July 14 [2006] but averaged $66.25 for the year, compared with $56.70 in 2005 and $41.47 in 2004 ...


NEWS ARTICLE from The Plain Dealer, 10-17-07, by John Wilen, Associated Press

``NEW YORK -- Oil futures rallied to a new intraday record above $88 a barrel on Tuesday [10-16-07] amid concerns about disruptions to Middle Eastern crude supplies ... Traders are concerned that a Turkish incursion into Iraq in search of Kurdish rebels could disrupt crude supplies from northern Iraq ...

Light, sweet crude for November delivery rose $1.48 to settle at a record $87.61 a barrel. Earlier, prices rose as high as $88.20, a trading record ...''


NEWS ARTICLE from The Plain Dealer, 10-19-07,

by John Wilen, Associated Press

``NEW YORK -- Oil prices surpassed $90 a barrel for the first time Thursday [10-18-07] ... Light, sweet crude for November delivery hit $90.02 ... Thursday was the fifth day in a row crude prices have set new records ...''

{The Oil Gang goes laughing to the bank.}]

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