The G Manifesto

Mexican Government claims successes in drug war

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The Mexican army is claiming success in the struggle to combat rising drug violence and corruption with the arrests in separate operations of a drug cartel leader in Cancun on the Caribbean coast and 25 suspected drug traffickers dressed as soldiers in the north of the country.

Authorities say that cartel head Juan Manuel Jurado Zarzoza, known as El R and the Puma, was arrested with three other suspected traffickers in possession of drugs and weapons. He was among those listed as Mexico’s most wanted for being behind the torture-murder of a retired army general in February as well as for extensive drug-running and extortion operations.

Jurado’s arrest has been seen as a blow to the operations of his Cardenas Guillen cartel in Cancun City, an international tourist resort and key base for cocaine trafficking from South America to the United States via the Gulf of Mexico.

Federal Defense Ministry officials said Jurado controlled all drug sales, kidnappings and extortion in the Yucatan peninsula and organized protection-money collection from the local tourist businesses.

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In February retired Brig. Gen. Mauro Enrique Tello Quinones was kidnapped, tortured and murdered in Cancun only 24 hours after arriving to clean up the city’s corrupt police force.

In another operation last weekend Mexican troops responded to a tip by raiding a ranch close to the U.S.-Mexican border city of Ciudad Juarez. There they arrested 25 men dressed as soldiers and confiscated a large arsenal of weapons and narcotics.

The Defense Ministry said the haul consisted of 29 large-caliber firearms, three small-caliber guns, more than 5,000 rounds of ammunition, four vehicles, 95 pounds of marijuana, 35 pounds of cocaine and 2,500 doses of crack cocaine.

An army spokesman in Chihuahua state said the men, posing in soldiers’ uniforms, had been burning businesses and homes in Nicolas Bravo city.

But in a setback for authorities last weekend, 53 inmates — including a dozen members of a powerful drug cartel — escaped from a jail in central Mexico. Dozens of guards were detained Monday for questioning over the escape.

The Saturday morning jailbreak in Zacatecas state in central Mexico was caught on CCTV showing guards standing by as the inmates were led out by an armed gang. They then got into a convoy of some 15 vehicles and left.

An extensive army and federal police manhunt is under way for the escapees. Eleven of the men are very dangerous, prison officials said. Some of them are believed to belong to the Gulf Cartel drug-smuggling gang.

Meanwhile, the prison governor has been detained for questioning along with 40 guards and two police commanders.

Nearly 11,000 people have died since 2006 in territorial fights by drug gangs and government crackdowns after President Felipe Calderon launched his anti-drug campaign by sending 45,000 troops to hot-spot drug areas.

The U.S. Department of Defense has warned that Mexico is close to becoming a failed state because of drug lawlessness.

Source

Click Here for The G Manifesto’s The Tijuana Report: There is a War going on Outside
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The Rest is Up to You…

Michael Porfirio Mason
AKA The Peoples Champ
AKA GFK, Jr.
AKA The Sly, Slick and the Wicked
AKA The Voodoo Child
The Guide to Getting More out of Life
http://www.thegmanifesto.com

Cafe Tacuba – Maria

Beek Throwback Track of The Week: ABC – Be Near Me

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Listening to this track you can just imagine the 80’s Playboys popping in the cassette, popping bub, doing mad beeks and swooping fly 80’s girls.

ABC-Be Near Me

Seems like the singer might have got his hands on some first generation beans as well from the lyrical content.

Some good hip-hop samples in there as well.

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The Rest is Up to You…

Michael Porfirio Mason
AKA The Peoples Champ
AKA GFK, Jr.
AKA The Sly, Slick and the Wicked
AKA The Voodoo Child
The Guide to Getting More out of Life
http://www.thegmanifesto.com

General Investment Themes from Barron’s Roundtable

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A Dead Bat in Paraguay

Weekly Commentary
For June 15th– June 19th 2009
By: Matthew Bradbard

Barron’s roundtable did not disappoint as some of the most influential financial minds were interviewed on what has happened and what is to come, oddly enough we agree with most of what was said. The general themes were: gold should be in your portfolio, a correction in equities is coming, the paltry returns in Treasuries do not justify an allocation, at some point the Fed will be forced to raise interest rates, and finally, the actions by the government should cause inflation if not hyperinflation. Sounds to me like a recipe for a continuing bull market in commodities.
To find out exactly how we are positioning our clients in commodity futures and options, Contact us today at 1-888-920-9997. Don’t forget to tell them The G Manifesto sent you.

Energies
The DOE said crude oil supplies were down 4.4 million barrels, supplies of gasoline were down 1.6 million barrels and heating oil supplies were down 800,000 barrels. August crude oil closed up $3.95 to trade to the highest level in seven months. Prices have traded higher now 7 out of the last 8 weeks, talk about a trend. Last week’s high at 73.90 should serve as resistance, followed by 75.00 with support at the 9 day moving average of 70.40. This level has acted as support since prices closed above the 9 day moving average on 5/18. August heating oil traded higher by 7.90 cents last week. Resistance is seen between 1.90/1.92 with support at the 9 day moving average at 1.8325 followed by 1.76. August RBOB gained just under 9 cents to close above $2 for the first time since mid-October. After reaching that landmark we would expect some profit taking. Support comes in at 1.88/1.90.

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A Dead Bat in Paraguay

The DOE said underground supplies of natural gas were up 106 billion cubic feet last week. August natural gas closed up 1 penny on the week. A triple bottom at 3.85 should act as solid support with resistance coming in first at 4.40 followed by 4.70. Prices were higher by 25 cents last Thursday on very good volume; almost 3 times the average volume of late. We advised clients to cover at least a portion of the recent fence position at a $1600 profit being we could get some spillover weakness from Crude. Our recommended trade currently is to buy the September $4.50/5.50 call spread near $2,200.

Livestock
August live cattle were higher by 65 ticks last week as movement of late has been like watching paint dry. This scenario has played out well for one of the livestock CTA’s that we work with as they typically write “out of the money” options. Support is seen at 80.50 with resistance at the 20 day moving average at 82.35. Trade idea: buy August live cattle/ sell October live cattle at -550.The widest this spread has been is -650, our target is to pick up 200-300 points. August feeder cattle were higher by 1.225 ticks closing 320 ticks off their lows. Support is seen at 96.90 followed by 96.00 with resistance at the 20 day moving average at 99.00.

Demand for pork continues to suffer, hurt by the world’s reaction to the H1N1 virus. Last week the World Health Organization declared a flu pandemic due to the spread of the H1N1 virus. In spite of assurances from numerous health organizations that eating properly cooked pork is safe, the hog industry continues to suffer. August lean hogs closed down .325 ticks having closed lower now for the last 4 weeks. Last week’s low at 57.785 should support while we see resistance at 61.50.

Financials
Stocks: Not only are we seeing less upside but the volumes have shrunk considerably, both signs of an interim top. The S&P added just 6 points last week registering its 12th positive week in the last 14 to close slightly below 950. The Dow ended the week up 36 points to 8799 finally making its way in the black for the year. The NASDAQ rose for the 13th time in 14 weeks adding only 9 points to 1859. We don’t suggest celebrating the 40% rebound for too long as a correction should be just around the bend. As investors recognize the quick recovery and increased growth that has been priced in will not be realized, expect profit taking. Moreover a sell-off is forthcoming being the fundamentals don’t match Wall Street’s perception. Friday we were buyers of July 875 ES puts for clients for $575.

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A Dead Bat in Paraguay

To view our full commentary which includes the sectors of energies, livestock, currencies, financials, grains, softs, and metals, subscribe to our 4 week free trial by visiting this link: http://mbwealth.com/subscribe.html.

_____________________________________________________________________________________
Risk Disclosure: The risk of loss in trading commodity futures and options can be substantial. Before trading MB Wealth recommends that you should carefully consider your financial position to determine if commodity trading is appropriate for you. All funds committed should be purely risk capital. Past performance is no guarantee of future trading results. There are no guarantees of market outcome stated, everything stated above are our opinions.

Chiasso: The Largest Financial Smuggling Operation in History?

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U.S. bonds worth an astounding $134.5 billion were seized by Italian police as smugglers attempted to cross into Switzerland earlier this month. Authorities have not indicated if they are real or fake, but either way, it could have implications for the U.S. bond market and the value of the dollar.

AsiaNews is reporting that Italy’s financial police seized bonds worth $134.5 billion from two Japanese nationals at Chiasso, an Italian border city known for catering to Italians who want to keep their money out of the Italian banking system. The confiscations include 249 U.S. Federal Reserve bonds each worth $500 million, plus 10 Kennedy bonds with face values of $1 billion, in addition to various other bonds.

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If proven real, it “would be the largest financial smuggling operation in history,” says AsiaNews.

But if the bonds are authentic, it raises the question: Who do they belong to? The high face-values of the bonds are not available in regular banking and financial markets and are typically only handled by states. That would mean that some government is trying to sell a huge chunk of its dollar holdings.

But which? There are very few countries that would be able to move such large amounts. $138 billion is approximately half the total value of all goods and services produced in a year by Iran (which is a major oil exporter). Only three candidates are easily identifiable: Japan, China and the United States.

Although China has been very vocal about diversifying its reserves away from the dollar, since the two foreign nationals arrested were supposedly Japanese, Japan is for obvious reasons the prime suspect.

The Italian daily Adnkronos did not report the official charges against the two nationals, but indicated they may have been detained on suspicion of attempting to take a large amount of securities out of Italy without declaring it.

But why would Japan risk covertly moving tens of billions across country lines in a briefcase with a false bottom? Was this an attempt to quietly unload U.S. treasuries without having to sell them on the open market and risk setting off a market stampede and causing a dollar panic?

“Notice, by the way, that the U.S. media has totally ignored this story—even though the securities in question are allegedly U.S. instruments,” writes Karl Denninger for The Market Ticker. “Might the authorities know they’re real and be just a wee bit nervous that disclosure of a sovereign attempting to covertly dump nearly $140 billion in debt could cause a wee bit of panic, given that we’re running nearly $200 billion a month in deficits?” (June 11).

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For now, the jury is still out. The bonds may very well turn out to be forgeries. But even if the bonds are fake, the matter might be even more worrisome, and not just because it would be “the biggest counterfeiting operation ever, by a factor of many times” (ibid.). AsiaNews ominously reports: “[T]he quality of the counterfeit work is such that the fake bonds are indistinguishable from the real ones.”

Picture the Bernie Madoff fraud times two—and that is if this is the only incident.

High-quality fraudulent treasury bonds measured in the hundreds of billions is the last thing the U.S. government needs to deal with right now. The U.S government is attempting to find lenders to finance record spending and stimulus packages to prop up the U.S. economy. Meanwhile, it is trying to convince those same investors that the dollar will not be devalued, and that it is a stable store of wealth. Hundreds of billions of fraudulent securities does nothing to secure that faith.

Students of history will know that various countries have counterfeited currencies of foreign nations to influence currency exchange rates and undermine faith in foreign central banks. Even today, North Korea is known for counterfeiting the U.S. $100 bills. It is possible that something along those lines is occurring here too.

This is a story that deserves watching. The ramifications could be very significant.

Source

A few points need considering:

1. When it comes to Italy the world press has tended to focus on Italian Prime Minister Berlusconi’s personal problems rather than on stories like the bonds smuggling affair which has been front page on Italian newspapers.

2. The fear of counterfeit bonds and securities has spread across Asia with the result that real securities are also considered with suspicion.

3. During the Second World War several countries at war printed and put in circulation perfectly counterfeit enemy money. It is also historically established that some central banks, like the Bank of Italy 65 years ago, issued the same securities twice (identical registered number and code). This way they could print more money with legal tender than they officially declared. The main difference though is that 65 years ago the world was involved in a bloody war, which is not the case today.

Source

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Thanks to Glengarry for sending this over.

The Rest is Up to You…

Michael Porfirio Mason
AKA The Peoples Champ
AKA GFK, Jr.
AKA The Sly, Slick and the Wicked
AKA The Voodoo Child
The Guide to Getting More out of Life
http://www.thegmanifesto.com

Loose Ends – Dial 999 (1983)

The Del Mar Racetrack: 3 O’ CLOCK FRIDAYS this Year

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I got the inside knowledge.

Since Mondays are canceled this year, due to The Down Economy, they are adding more races to Fridays. Hence the hour earlier post time.

So instead of 4 to 7 it goes from 3 to 7. (If it were up to me, I would have made it 4 to 8. I would also make prostitution legal, gambling legal everywhere, Cigarette smoking legal, Ecstasy legal, Models everywhere and have drinking 24hours, but maybe that just me.)

It is a pleasant change to have something change for the better.

All in all, not bad as it give you another hour to swoop more girls.

http://www.dmtc.com/season/events/concert

You heard it here first.

Peep these Del Mar Race Track resources:

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Click Here for The Del Mar Racetrack Part II
Click Here for The Del Mar Race Track: How to Dress for the Horse Races
Click Here for The Del Mar Race Track: Dope Style, Wack Style
Click Here for Opening Day Del Mar Race Track Pictures
Click Here for Del Mar Race Track Considers Shortening Season

Countdown to first post: 41 days, 1:36, 42 seconds.

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The Rest is Up to You…

Michael Porfirio Mason
AKA The Peoples Champ
AKA GFK, Jr.
AKA The Sly, Slick and the Wicked
AKA The Voodoo Child
The Guide to Getting More out of Life
http://www.thegmanifesto.com

Happy – Killah Priest

Sick Sample of course from:

Minnie Rippleton – Inside My Love