LIBOR IS IMPORTANT!
source: http://useconomy.about.com/od/glossary/g/LIBOR.htm
LIBOR is an acronym for London InterBank Offered Rate. This is the rate charged by London banks, and is then published and used as the
benchmark for bank rates all over the world.
A rising LIBOR will make all types of consumer and business loans more expensive.
In October 2008, the Federal Reserve Bank (of the USA) dropped the Fed rate to 1.5%, but LIBOR rose to a high of 4.8%.This caused markets to tank. Not until the $700 billion bailout helped reassure banks did LIBOR return to normal levels.Why? banks wouldn't lend to each other, fearing they would inherit each others' subprime mortgages.
A falling LIBOR will make all types of consumer and business loans more affordable.
So when a Barclay's Bank Trader asks for a lower LIBOR Rate, they are attempting to manipulate a so-called World standard rate: this from Matt Taibbi of Rolling Stone
Trader: "Can you pls continue to go in for 3m Libor at 5.365 or lower, we are all very long cash here in ny."
Libor rate submitter: "How long?"
Trader: "Until the effective date goes over year end (i.e. turn drops out) if possible."
Submitter: "Will do my best sir."
For this and other "proof" Barclays agreed to pay at least $450 million to resolve government investigations of manipulation of Libor and the Euro interbank offered rate (or Euribor)
**********Have a Nice Day**********
Read About: Money and The Kipawa River, Whitewater Ontario,Les amis de la rivière Kipawa,The Proposed Tabaret River diversion project, Northern Ontario Liquid Adventurers,Canadian Rivers Network The viewpoints and opinions expressed here are those of the author and are not necessarily those of Whitewater Ontario or Les Amis de la Riviere Kipawa. Those groups did not vet these comments and would not likely endorse the views expressed here or the manner in which they have been expressed.
Friday, June 29, 2012
Tuesday, June 26, 2012
The Financial End Game
The news keeps getting worse in Europe. People have moved money out of investments and put it into banks wanting liquidity but there is heightened awareness of the fragility of the banking system with recent bank credit down grades.
Europe's economy and that of the US are slowing. Soon people will move out of cash, and into gold realizing that the paper currency in their hand isn't much safer than money on deposit in a bank. The panic to obtain gold or silver will mark a drastic rise in the price of gold - and silver.
Monday, June 25, 2012
7 Year Review? What 7 year review?
The Harper Government’s formal
response to the Standing Committee’s Seven Year Review of CEAA according to Minister
Kent:
|
“The
Government believes that the Standing Committee’s recommendations are
addressed through this proposed legislation [c-38], and therefore does not
intend to take any additional action to address the Standing Committee’s
recommendations.
|
This is the crowd that assembled on Parliament Hill for C-38
But really, oddballs and cyclists make very poor opposition to the fascist majority we have in place now. What with closure on debate, prorogation, contempt of parliament, bogus estimates, those f'in 35's, we needed a crowd of 100,000. I'm sure, on Canada day we'll have a great crowd to watch the fireworks, the same ones that sleep walked through Omnibus -c35 wreaking havoc on the environment and so many other Canadian institutions.
Wake up! - Rise Up!
Me and Ian Tamblyn at the Ottawa River Keeper's AGM
Merridith Brown recognized the work of Les Amis de la rivière Kipawa in helping to stave off the Tabaret River diversion project. Ian's marvelous compositions regarding river preservation have not yet been published but "say it isn't so" tells the story about how our need for power affects even when we're in the wilderness. Buy Ian's work and support our Canadian Talent!
President's Notes from the 26th annual Kipawa River Rally
68 registered registered guests/paddlers and an indeterminent number of rafters gathered at the Kipawa River over the past weekend.
Many people had arrived on Thursday, making arrangements with Scott Sorensen for accommodation. Friday night was the official kickoff. The evening was kicked of by the arrival of a water bomber and helicopter due to the sighting of a lightning strike fire just south of Island Rapid.
Felix Martel from the Montreal Kayak Club was in the chopper doing supply and spotting work for the blaze.
Watching the DeHaviland Bombers scoop up water from Lake Temiskaming was pretty spectacular.
The AGM was held: The quorum was present with sufficient notice of the meeting.
Present: Brian Hart, Larry Wong, Sandra Kiviaho, Wendy Sladen, Erwin Allen, Rich Weiler, Jim Coffey, Ty Smith, Todd Weiler, Peter Karwacki, Jacek Luc, Shaunna Neil -Martin, Graham Kent, Jeremy Poulin, Bruce Samhaber, Pat and Scott Sorensen Regrets: Francois Diebolt, Rick Issacson.
Peter Karwacki called for Les Amis to develop more baseline data about the health of the River.
The presidents report was accepted as presented: Moved by Karwacki, Seconded by W. Sladen
The treasurer's report was included in the President's report.
Elections were held for the coming year: Results
Peter Karwacki - President - acclaimed
Rick Issacson -Vice President - acclaimed
Francois Diebolt - Treasurer - acclaimed
Membership Chair/Secretary - Shauna Neil-Martin - acclaimed
Rally Coordinator position and River Preservation positions are currently vacant.
Discussion:
Sales of merchandise on website probably not worth it.
New T-shirts are planned for the 27th annual rally.
Scott Sorensen advised that the native bands currently are in opposition to Opemican Park. The local population in Temiskaming Sud seem more interested in maintaining their traditional ability to Quad, Fish, Hunt and Snowmobile unfettered. The Innergex Project itself is on shaky ground due to the plans by Tembec to burn its wood refuse and create biomass power.
Upon completion of the AGM, Fireworks in celebration of the shelving of the Tabaret Project were held.
Antoine Stab attended the Rally for Espace Magazine/Adventrua Magazine
Ty Smith, MSc in River Management offered his support.
Jim Coffey said that the region had experienced some victories lately, the Kipawa over Tabaret, the Dumoine over its power projects, Calumet Island over uranium mining and the Petawawa over Xeneca. River advocacy is alive and well within the region. The fact that Tabaret has been shelved by Hydro Quebec may be parallel rather than a result of Les Amis's actions but he added: "a win... is still a win".
CEHQ is now the central contact point for water release requests. There was some discussion about the impact on fish when releases occur. Fish don't respond well to fluctuating levels.
Raucus Crown in the new expanded boathouse. By Saturday night the tunes were in French and in English, and we went well into the night in great conviviality.
Financial Results:
Kipawa River Rally 2012
Net proceeds $ 1,463.11
Will be applied to river preservation efforts:
Future projects may include:
New Shirts/Tshirts
New Banner
Acquisition of Hydro Quebec baseline data
Student plant and animal baseline studies
Rally Water Levels 2012
as per the guage we had peak flows of 120 cms for 8 to 12 hours a day.
Kipawa gauge: http://www.cehq.gouv.qc.ca/suivihydro/graphique.asp?NoStation=042610
Many people had arrived on Thursday, making arrangements with Scott Sorensen for accommodation. Friday night was the official kickoff. The evening was kicked of by the arrival of a water bomber and helicopter due to the sighting of a lightning strike fire just south of Island Rapid.
Felix Martel from the Montreal Kayak Club was in the chopper doing supply and spotting work for the blaze.
Watching the DeHaviland Bombers scoop up water from Lake Temiskaming was pretty spectacular.
The AGM was held: The quorum was present with sufficient notice of the meeting.
Present: Brian Hart, Larry Wong, Sandra Kiviaho, Wendy Sladen, Erwin Allen, Rich Weiler, Jim Coffey, Ty Smith, Todd Weiler, Peter Karwacki, Jacek Luc, Shaunna Neil -Martin, Graham Kent, Jeremy Poulin, Bruce Samhaber, Pat and Scott Sorensen Regrets: Francois Diebolt, Rick Issacson.
Peter Karwacki called for Les Amis to develop more baseline data about the health of the River.
The presidents report was accepted as presented: Moved by Karwacki, Seconded by W. Sladen
The treasurer's report was included in the President's report.
Elections were held for the coming year: Results
Peter Karwacki - President - acclaimed
Rick Issacson -Vice President - acclaimed
Francois Diebolt - Treasurer - acclaimed
Membership Chair/Secretary - Shauna Neil-Martin - acclaimed
Rally Coordinator position and River Preservation positions are currently vacant.
Discussion:
Sales of merchandise on website probably not worth it.
New T-shirts are planned for the 27th annual rally.
Scott Sorensen advised that the native bands currently are in opposition to Opemican Park. The local population in Temiskaming Sud seem more interested in maintaining their traditional ability to Quad, Fish, Hunt and Snowmobile unfettered. The Innergex Project itself is on shaky ground due to the plans by Tembec to burn its wood refuse and create biomass power.
Upon completion of the AGM, Fireworks in celebration of the shelving of the Tabaret Project were held.
Antoine Stab attended the Rally for Espace Magazine/Adventrua Magazine
Ty Smith, MSc in River Management offered his support.
Jim Coffey said that the region had experienced some victories lately, the Kipawa over Tabaret, the Dumoine over its power projects, Calumet Island over uranium mining and the Petawawa over Xeneca. River advocacy is alive and well within the region. The fact that Tabaret has been shelved by Hydro Quebec may be parallel rather than a result of Les Amis's actions but he added: "a win... is still a win".
CEHQ is now the central contact point for water release requests. There was some discussion about the impact on fish when releases occur. Fish don't respond well to fluctuating levels.
"its not my dog"
The Top Ten Things to Remember when attending the Kipawa River Rally!
1. Your gear and equipment - you are in the backwoods - come prepared
2. Park as far off the access road as possible to eliminate congestion
3. Leave your dog at home
4. Bring cans - not bottles, pack out what you can, and definitely pick up trash and refuse anywhere you see it.
5. You pay $20 per night per person whether tent or cabin, You pay for the fish dinner at the door $20
6. Keep your clothes on or be heckled.
7. Registration is important sign the waivers- you become a member of LARK for $10, and support its river preservation efforts - bring some $10 dollar bills
8. Don't drive down the hill if the road is wet
9. Bring your musical instruments, and prepare your act for a noisy crowd ( no "dust in the wind!" crowd)
10. Buy beer, and snacks at the laniel Depaneur, Have fun, paddle safe
Financial Results:
Kipawa River Rally 2012
Net proceeds $ 1,463.11
Will be applied to river preservation efforts:
Future projects may include:
New Shirts/Tshirts
New Banner
Acquisition of Hydro Quebec baseline data
Student plant and animal baseline studies
Rally Water Levels 2012
as per the guage we had peak flows of 120 cms for 8 to 12 hours a day.
Kipawa gauge: http://www.cehq.gouv.qc.ca/suivihydro/graphique.asp?NoStation=042610
