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..There's a little Samuel Pepys in all of us..

Thursday, August 25, 2011

And as a note to end this day..
Foreign Secretary William Hague has said it may take time to negotiate a United Nations resolution to release frozen Libyan assets..
Hague said British, French and US diplomats were trying to get agreement from Russia and China.. both of whom hold a UN Security Council veto.. and Russia and China both refused to endorse the UN resolution allowing NATO's military intervention in Libya..
Hague said it was "important for the world to come together".. a typical British understatement.. For it's the reaction of the West to this coup in Libya that will set the tone, in the Arab mind, for what will soon be needed in Syria.. this is a chance to ease inbred distrust..
The UK government's National Security Council met for the fourth consecutive day this afternoon.. Billions of pounds of Libyan assets - including £12bn in London alone.. have been frozen in recent months to prevent them being used by the Gaddafi regime..
The US, UK and France want to unfreeze them to provide funds for the NTC and for humanitarian efforts..
Meanwhile, in Libya, rebels are continuing to fight running battles with pro-Gaddafi forces in Tripoli, while Colonel Gaddafi himself remains on the lam..
To add an afternoon update.. Gaddafi has addressed his followers on State television and radio, calling on this 'invasion' to be washed from the streets of Tripoli with the blood of women and children..
The rebels are now concentrating on the Colonels hometown of Sirte.. where many who still support the old regime continue the fight..
There are some calls now for UN troops to take over.. to patrol the roads and open a corridor through Tripoli.. And there will be meetings this weekend by Ministers from countries which have frozen Gaddafi accounts.. meetings designed to release some of those funds to the Revolutionary Council..
While Muhammar continues to elude those searching for him.. The head of the National Transitional Council.. Mustafa Abdel Jalil.. has upped the stakes..
They're offering any of those still close to Gaddafi an offer of amnesty, and a cash reward of a million Pounds..
This is a 'dead or alive' deal..
Rebel spokesman Guma el-Gamaty reports that those around Col Gaddafi were "heavily implicated with him in crimes against humanity and crimes against the Libyan people.. Now there is a huge psychological incentive for them.. If they don't want to go down with him and save their skin, they will be immune from prosecution if they hand him over.. or kill him..".
There are still reports of gunfire from and into the last remaining faithful in the Compound..
But there are no crowds celebrating.. sniper fire is keeping the rebels at bay, for the moment..
For the time being.. the focus will remain on the search for Gaddafi.. But soon, the National Transitional Council will need to pay serious attention to getting the country's finances back in order..
There are some tangible assets frozen in the US.. Britain.. France.. Germany and South Africa.. which could total close to £115 billion.. those assets, along with loans and outright gifts from Western governments.. should keep the government working.. civil servants paid.. money available to rebuild small businesses.. repair the damage done by NATO bombs and government tanks and rockets..
And while there are those warning of a 'humanitarian crisis' in the offing.. if the Council can keep order among tribal factions and ensure there's a plan to distribute foreign imports.. the situation need not escalate into a full-blown disaster..
There are reports of a shortage of medical supplies.. although that's understandable considering the nature of this coup.. Much of Tripoli is without electricity and running water.. and rumours of a poisoned water supply aren't helping matters..
But again.. we'll now see Western money flowing into Libya.. The transition.. with NATO help.. should flow freely..
All going well.. of course..
The Council must ensure a return to normalcy, as quickly as possible.. Get oil exports up and running again.. and sustainable markets encouraged to come into the country to fulfill existing contracts..
We'll have more as the day progresses..

A flash slide in Germany's stock market dragged down indexes across the world.. erasing earlier gains and shaking the confidence of investors who were cheering a $5 billion investment by Warren Buffet in Bank of America.. Buffet announced his support for BofA early this afternoon..
Germany's main index, the DAX, fell about 250 points in a matter of minutes to trade down more than 4 percent on the day, before recovering somewhat.. By mid afternoon in Europe it was down 2.4 percent..
Analysts and traders could not immediately identify a reason for the slump, but its impact was immediate on financial markets around the world..
But perhaps it is simple to understand.. Investors are waiting for tomorrows meeting in Wyoming.. and as mentioned in previous posts.. there are those who will be in this market for simple short-term gain.. and are now taking what profit they can..
At the close.. Britain's FTSE 100 was pulled 1.2% lower to 5,143.48.. while France's CAC-40 was down 0.5 percent to 3,124..

Something to keep an eye on..
Hurricane Irene has been upped to a Category 3 hurricane, as it swept across the Bahamas.. on a course that will see the US Eastern Seaboard affected by tomorrow..
Irene's packing winds of 120mph.. and forecasters say it's going to get worse..
The Outer Banks islands off North Carolina are being evacuated and people are stocking up on supplies in coastal areas of the US state..
The storm has brought flooding and power cuts across the Caribbean..
The National Hurricane Center said it expected Irene to grow into a Category 4 storm today.. with winds of 135 mph..
This afternoon.. Thousands were fleeing an exposed strip of coastal villages and beaches off North Carolina as Irene approaches.. Irene could hit North Carolina's Outer Banks on Saturday afternoon with winds around 115 mph.. It's predicted to work it's way up the East Coast, dumping rain from Virginia to New York City before a much-weakened form reaches land in Connecticut..

There was a time this record dealt with issues reflected through discussions held in chatrooms.. A time there was much less reporting of world affairs.. and much more observation.. speculation perhaps.. on the human condition..
When this began, it was meant primarily to be a record of the world as seen through the eyes of one man who'd spent his life reporting on, and discussing the news.. a record of world affairs which both affect us directly, or will in the future..
But whereas there used to be the old regulars around the bar at the local pub.. they seem to have melted away either through a lack of disposable income.. or normal attrition..
Whereas there was coherent thought to be found in the chatrooms.. that medium these days has deteriorated to the level of mere social sites, where 'friends' exchange a never ending stream of 'hellos' and 'goodbyes'.. and little of substance being written.. It's always a shame to lose a source.. but what chatrooms there are remaining, are inconsequential..
This has become a condensed news report.. but it is a reflection of at least one man's view on the important issues of the day.. and what's reported in these posts is meant to be pieces of the puzzle in the ongoing Game..
When the world allows us time to return to introspection.. we will be happy to get back to it..
In the meantime.. this will remain a portable analysis.. History as it happens, so to speak..

A brief mention on a couple of new discoveries..
A newly discovered alien planet that formed from a dead star is a real diamond in the rough.. no pun intended..
A a new study suggests..the super-high pressure of the planet, which orbits a rapidly pulsing neutron star, has likely caused the carbon within it to crystallize into an actual diamond..The composition of the planet, which is about five times the size of Earth, is not its only outstanding feature..
The planet's parent star is a special kind of flashing star known as a millisecond pulsar, a rapidly rotating neutron star formed from a supernova. The entire system, which is only the second of its kind ever discovered, is located about 4,000 light-years from Earth in the constellation of Serpens.. or The Snake..
And here on earth.. Brazilian scientists have discovered an underground river some 4,000 meters, which flows from west to east like the country's famous waterway..
A statement this week from Brazil's National Observatory named the underground river Hamza and said it represents one of two different draining systems for the large rainforest region..
A team of scientists led by Elizabeth Pimentel came to the conclusion from studying 241 wells drilled by the state oil giant Petrobras in the Amazon region..
Even though the two rivers cover a similar path they have differences.. The underground river flows at a far slower pace and empties into the ocean deep underground..
The report from Pimentel writes "It is likely that this river is responsible for the low level of salinity in the waters around the mouth of the Amazon.."

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