Glut of Natural Gas - why isn't the US promoting cars powered by NG?

Nov. 30 (Bloomberg) -- When Qatar’s biggest natural gas shipment to the U.S. arrived this month, it signaled to Barclays Capital Inc. and PFC Energy that this year’s worst performing commodity investment won’t recover in 2010.

Murwab, a Qatari liquefied natural gas tanker, carried the first shipment to the U.S. from the Persian Gulf nation since June 2008. Its cargo, enough to heat about 9 million homes for a day, added to the largest gas inventories for this time of year since at least 1994, Energy Department data show.

Rising supplies threaten to hurt the record-large $4.2 billion bet in the U.S. Natural Gas Fund LP, while traders hold 51 percent more options contracts to buy gas than they do to sell. The International Energy Agency warned of a glut that Qatar’s energy minister said may last until 2012. Wall Street’s consensus forecast for a 51 percent rise in U.S. gas futures to an average $6.09 per million British thermal units next year is too high, according to industry consultant Schork Group Inc.

“We have more gas than we know what to do with in the U.S., we have more waterborne gas floating around the world’s oceans that doesn’t have a home,” Stephen Schork said in an interview from Villanova, Pennsylvania. Prices this winter will “gravitate toward, and remain closer to $4, rather than $7” for each million Btu, he said.

No more American Gold gold coins for a while

“The US Mint has depleted its current inventory of 2009 American Eagles one-ounce bullion coins due to the continued strong demand,” the mint said in a statement late on Wednesday. It added that selling will resume “once sufficient inventories . . . can be acquired to meet market demand”. 11/30/09

What's the relationship between the Fed and Treasury?

The US Treasury issues debt on behalf of the Government and acts as the Bank for the US Government. It pays the bills for the US Government, stockpiles the wealth, etc...

The Federal Reserve creates the money in circulation. It runs the entire banking system in the country.

A good example of how the two work, is that lets assume today is Day 1 of the United States and we currently have $0.00 as a nation. The US Government wants to build a highway system that costs $1/billion dollars. How can this happen?

First the Congress would approve the bill and the president would sign it. Then the US Treasury would issue $1/billion in Debt. The Federal Reserve would create $1/billion dollars from thin air and buy the debt from the Treasury. Now the Treasury has $1/billion in cold cash. The Fed now holds the debt. Then the treasury begins writing checks to whomever is running the new highway construction operations. This putting $1/billion dollars into the hands of We the people. Who then turn around and go buy widgets from Walmart. The government then taxes us to repay the debt that was issued.

Nathan Spear, California's first commercial salmon fisherman

After Captain Sutter had settled at Fort New Helvetia he was in the habit, at times, of sending fresh salmon to Yerba Buena. The fish were fresh-salted or smoked. Nathan Spear, who was an epicure, and lover of good things, appreciated these fish very highly. The idea suggested itself to his mind that something profitable might be done in salmon fishing on the Sacramento River. Not wishing to trespass upon Captain Sutter’s ground, although, of course, Sutter had no exclusive right to the fish in the river, Spear wrote to him on the subject and received encouragement to go up and engage in fishing there for salmon. He made several trips in 1840 and ‘41 in the schooner Isabella, camping on the bank of the Sacramento in a comfortable tent, and superintended the catching of the fish by the crew of his schooner and by Indians experienced in fishing, furnished by Captain Sutter. He took large quantities of salmon, filling the hold of the Isabella with fish packed in bulk, transported them to Yerba Buena, and disposed of them at satisfactory prices, packed in barrels and kegs of different sizes, to visiting vessels and to residents, making a good profit.

To Nathan Spear, therefore, is due the credit of having inaugurated the salmon fishery on this coast as a business, and of developing, to a considerable extent, an enterprise which has since grown to large proportions. On the last trip to the river in salmon catching Mrs. Spear accompanied her husband.

Land Grants in California

While under the Mexican system, any Californian desiring a land grant applied to the Governor, listing his or her name, age, country, vocation, quantity and description of the land, and a hand-drawn map, or diseño, of the boundaries and natural features of the desired land. After consulting local officials, the Governor would decide and, if he approved, issue a formal grant in writing to the applicant. This system resulted in extremely large land grants; most were for thousands -- or even tens of thousands -- of acres. Thus a small number of wealthy landowners ran ranchos that employed large numbers of people.

To iron out the confusion over land ownership in California, Congress passed "An Act to Ascertain and Settle Private Land Claims in the State of California" in 1851. This legislation established the California Land Commission, which had responsibility for adjudicating the validity of claims to Spanish and Mexican land grants. The new law placed the burden of proof on the claimant. Because it provided for appeals of the Commission's decisions to the Federal courts, titles to these claims were often tied up in litigation for years. So, added to the conflict between the existing population and the increasing stream of new immigrants looking for places to live was uncertainty about ownership of large portions of land. Because litigation over land grants lasted years (and sometimes decades), squatting became widespread and sometimes resulted in violent clashes. Additionally, many claimants could not afford the lengthy litigation and, as a result, lost their lands.

Dana Point named after Richard Henry Dana, Jr

Dana authored the infamous "Two Years Before the Mast" describing his experience sailing from Boston to the coast of California and back in 1835-36.

During one experience, his ship was on a voyage to trade goods from the east for cow hides. Interestingly, the bluffs near Mission San Juan Capistrano presented an obstacle to taking the cow hides to the beach for subsequent loading onto the ship. So, Dana, along with others of the Pilgrim's crew, tossed the hides from the bluffs, while spinning them like a frisbee. Some hides got stuck part way down the cliff and Dana was lowered with ropes to retrieve them. Since that day, that point where the bluffs were located, took on Dana's name, and is today the city of Dana Point.

Winston Churchill said . . .

The United States always does the right thing . . . after all other possibilities have been exhausted.

How big is the amount of all gold ever mined??

Well, first let's think about how much gold India bought from the IMF recently . . . Meanwhile, the Buttonwood column of this week's Economist, titled Paper Promises, Golden Hordes, discusses the small quantity of gold that actually exists: "Two hundred metric tons of gold [that's what India bought] would occupy a cube of a little more than two meters on a side; it would fit into a small bedroom." And of course, all the gold that's ever been found would fit into two Olympic-sized swimming pools.

Think about adding to your gold holdings!

How bad is unmemployment?

LAS VEGAS - In the latest sign of the economic free fall, U.S. citizens are starting to show up in the early mornings outside home improvement stores and plant nurseries across the Las Vegas Valley, jostling with illegal immigrants for a shot at a few hours of work.

Experts say the slow starting but seemingly inexorable trend is occurring nationwide.

"It's the equivalent of selling apples in the Great Depression," said Harley Shaiken, chairman of the Center for Latin American studies at the University of California, Berkeley.

Dimentia vs Alzheimer's Disease

Are you confused about how to distinguish between these two conditions? click here to learn more

China to the rescue???

Would someone please explain to me how China is going to come to the rescue of the West with their economic demand when the average income in China is $3000?

Tax cheaters are getting more nervous all the time . . .

Hong Kong hasn’t been the only tax jurisdiction implicated in the past year. UBS admitted in February that it helped U.S. clients create sham companies in Panama and the British Virgin Islands, while hiding the true owners from the U.S. Internal Revenue Service. UBS clients who pleaded guilty also implicated Singapore, Liechtenstein, Mexico and the Cayman Islands.

The IRS is analyzing a trove of information from more than 7,500 taxpayers who voluntarily disclosed their offshore accounts this year to avoid prosecution. To qualify, clients had to disclose everyone who handled their money overseas and everywhere it went.

This is going to get exciting!

Happiness

Happiness comes through doors you didn't even know you left open.

Video - Godfather clip

Who can forget this scene from the The Deer Hunter . . . . the reason is because it's all one take and the use of the mirror is really creative.

Acts of Kindness . . .

Small acts of kindness, performed consistently and with love make a huge difference.

Barbara Stone

Words of Wisdom

Don't compare your life to others. You have no idea what their journey is all about.
Take a deep breath. It calms the mind.
Get rid of anything that isn't useful, beautiful or joyful.
Over prepare, then go with the flow.
Pay off your credit cards every month

and from Barbara Young . . . low expectations = high satisfaction