This bill was referred to the Committee on Armed Services which is expected to make a recommendation on 6/6/6. Not that I am into numerology, but this is the number of the devil.
Some snippets from the Universal National Service Act of 2006:
"A BILLUncle Sam will also be able to force labor on you, says the bill:
To provide for the common defense by requiring all persons in the United States, including women, between the ages of 18 and 42 to perform a period of military service or a period of civilian service in furtherance of the national defense and homeland security, and for other purposes."
"National Service under this Act shall be performed eitherAs such measures clearly indicate that the USA can be expected to stay on its unilaterally violent course let me point you to Army Regulation 210-35, dated January 14, 2005 and frighteningly headlined "Civilian Inmate Labor Program."
(1) as a member of an active or reserve component of the uniformed services; or
(2) in a civilian capacity that, as determined by the President, promotes the national defense, including national or community service and homeland security."
Civilian Inmate Labor Program
According to the introduction:
"This regulation provides guidance for establishing and managing civilian inmate labor camps on Army installations. It provides guidance on establishing prison camps on Army installations."Check out the document yourself and note the high priority dealing with the media and handling of prominent persons is given.
Although this blog has been in a coma recently the wild behaviour of all markets has not escaped my attention.
Seeing the Bush administration taking the constitution systematically apart I am getting a strong feeling that the next unforeseen nail in the coffin of the US dollar may be coming from the White House while interest rates finally begin to bite the stock market.
The conundrum in the bond market where yields are still comfortably low given the uptrend in both CPI and "core" may be partially explained by massive US debt purchase orders originating in the Caribbean while central bank purchases of IOU's are on the decline. Japan's dollar holdings are at a 2-year low.
Who buys the stuff in these huge quantities? It can't be the hedge funds who mostly have started bleeding this year, now that so many carry trades have to be unwound. Who is the unknown 800-pound gorilla in the market?