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Iraq Debate Opens in Washington

The long-awaited Iraq debate has arrived. Prepare to be bombarded with official opinion on all sides. Over the next two weeks, there will be no fewer than 12 congressional hearings assessing the state of things in America's fifty-first state.

This week, Congress will review two new reports. The first, by the GAO, will look at Iraq's progress on political and security benchmarks; the second, by Marine General James Jones, will examine the training and capabilities of Iraqi security forces. The forecast is gloomy in each case. The reports will prepare the rhetorical battlefield for next week's main event: the testimony of Ambassador Crocker and General Petraeus on the effects of the 'surge.'

As the political battle is joined in Washington, Mother Jones will be there. Check the MoJoBlog for our coverage. A list of events already on the schedule:

Tuesday, September 4, 2007, 2pm: Senate Foreign Relations Committee holds an open hearing on the GAO report assessing the political and military progress in Iraq.
Wednesday, September 5, 2007, 10am: House Armed Services Committee holds an open hearing on the GAO report.
Wednesday, September 5, 2007, 2pm: House Foreign Affairs Committee holds an open hearing on the GAO report.
Thursday, September 6, 2007, 9am: Joint House Armed Services/Foreign Affairs Committee holds an open hearing on “Beyond the September Reports: What’s Next for Iraq?”
Thursday, September 6, 2007, 10am: Senate Armed Services Committee holds an open hearing on Marine General James Jones report on training and capabilities of the Iraqi security forces.
Thursday, September 6, 2007, 2:30pm: House Armed Services Committee holds an open hearing on report from Marine General James Jones with testimony from General Jones.
Thursday, September 6, 2007, 2:30pm: Senate Intelligence Committee holds a CLOSED hearing on the National Intelligence Estimate on Iraq.
Friday, September 7, 2007, 9am: Senate Armed Services Committee holds an open hearing on the GAO report.
Monday, September 10, 2007, 12:30pm: Joint House Armed Services/Foreign Affairs Committees holds an open hearing with U.S. Armed Forces Commander in Iraq General David Petraeus and U.S. Ambassador to Iraq Ryan Crocker on their report assessing the situation in Iraq.
Tuesday, September 11, 2007, Time TBD: Senate Foreign Relations Committee holds an open hearing with General Petraeus and Ambassador Crocker on their report on Iraq.
September 12, 2007, Time TBD: Senate Armed Services Committee holds a hearing with Defense Secretary Robert Gates and Joint Chiefs of Staff Chairman General Peter Pace.

Posted by Bruce Falconer on 09/04/07 at 8:40 AM | E-mail | Print | Digg | de.licio.us | Reddit | Newsvine | Yahoo! MyWeb | StumbleUpon | Netscape | Google |



Comments

To Mother Jones Editor and Readers:
Thanks for your continued reporting of news that isn't carried elsewhere. Even more important, is the up-coming gathering on 9/11 at Cooper Union, NYC (see #6 below) with many scholars reporting on their research about the lies and deception of what really happened to the TT's on 9/11/01. There's enough sound evidence from scholars, professors, physicists, and others interested in the real truth.
You have always stood apart, from mainstream media. Is Marshall Law going to be declared in the US in next few weeks??? Are hedgefund investors going to make piles of $$ with what may happen?
So: This is a legitimate letter.
PLEASE HELP and Pass this on, we all are in danger...

9/11/01 websites:
EVIDENCE: See:
1. Scholars for the Truth:
http://www.scholarsfor911truth.org/
2. Matt Orr, scientist and professor in Oregon
http://twilightpines.com//index.php?option=com_content&task=view&id=55&Itemid=47
3. David Ray Griffin, author
http://911review.com/articles/griffin/madison.html
4. The Attack and resources:
http://911review.com/
5. More Credible Bkgd material: “No More Games” by Morgan Reynolds Prof.emeritus, Texas A&M University) and Rick Rajter (Ph.D.engineering student, MIT), published Oct. 27, 2006 at:
http://nomoregames.net/index.php?page=911&subpage1=exploding_the_airliner_crash_myth

6. 9/11/07 Anniversary Gathering in NYC: Speakers
http://ny911truth.org/ready4mainstream/speakers.htm

7.Marshall Law:
SEE: a)commondreams.org: http://www.commondreams.org/archive/2007/07/27/2813/print/
b) http://www.inteldaily.com/print.php?a=1431

8. Blackwater private army being built in US:
SEE: http://www.declineandfall.net/2007/08/coming-to-state-near-you-blackwater-air.html

9. Money & September 2007 hedge funds:
SEE: http://mparent7777-2.blogspot.com/2007/08/45b-bet-on-another-911-within-4-weeks.html:
Anybody have a clue as to what these 'investors' are expecting?

The two sales are being referred to by market traders as "bin Laden trades" because only an event on the scale of 9-11 could make these short-sell options valuable.

There are 65,000 contracts @ $750.00 for the SPX 700 calls for open interest. That controls 6.5 million shares at $750 = $4.5 Billion. Not a single trade. But quite a bit of $$ on a contract that is 700 points away from current value. No one would buy that deep "in the money" calls. No reason to. So if they were sold looks like someone betting on massive dislocation. Lots of very strange option activity that I haven't seen before.
The entity or individual offering these sales can only make money if the market drops 30%-50% within the next four weeks. If the market does not drop, the entity or individual involved stands to lose over $1 billion just for engaging in these contracts!
Clearly, someone knows something big is going to happen BEFORE the options expire on Sept. 21.

THEORIES:
The following theories are being discussed widely within the stock and options markets today regarding the enormous and very unusual activity reported above and two stories below. Those theories are:
1) A massive terrorist attack is going to take place before Sept. 21 to tank the markets, OR;
2) China, reeling over losing $10 Billion in bad loans to the sub-prime mortgage collapse presently taking place, is going to dump US currency and tank all of Capitalism with a Communist financial revolution. Either scenario is bad and the clock is ticking. The drop-dead date of these contracts is September 21. Whatever is going to happen MUST take place between now and then or the folks involved in these contracts will lose over $1 billion for having engaged in this activity.
"$1.78 Billion Bet that Stock Markets will crash by third week in September Anonymous Stock Trader Sells 10K Contracts on EVERY S&P/Y "Strike" Shorts Stocks "in the money" effectively selling all his SPY holdings for cash up front without pressuring the market downward.

This is an enormous and dangerous stock option activity. If it goes right, the guy makes about $2 Billion. If he's wrong, his out of pocket costs for buying these options will exceed $700 Million!!! The entity who sold these contracts can only make money if the stock market totally crashes by the third week in September.
Bear in mind that the last time anyone conducted such large and unusual stock option trades (like this one) was in the weeks before the attacks of September 11.
Back then, they bought huge numbers of PUTS on airline stocks in the same airlines whose planes were involved in the September 11 attacks.
Despite knowing who made these trades, the Securities and Exchange Commission NEVER revealed who made the unusual trades and no one was ever publicly identified as being responsible for the trades which made upwards of $50 million when the attacks happened.
The fact that this latest activity by a single entity gambles on a complete collapse of the entire market by the third week in September, seems to indicate someone knows something really huge is in the works and they intend to profit almost $2 Billion within the next four weeks from whatever happens! This is really worrisome."
Source: Ticker Forum

Posted by: Dr . Anna Miller on 09/05/07 at 7:04 AM

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