Jim Sinclair’s Commentary

I have already told you about this. I feel you should know the reasons behind the attack.

Pakistan attack destroys more than 160 vehicles destined for US-led troops in Afghanistan
Riaz Khan
Associated Press – 12/07/2008

PESHAWAR, Pakistan – Militants blasted their way into two transport terminals in Pakistan on today and torched more than 160 vehicles destined for U.S.-led troops in Afghanistan, in the biggest assault yet on a vital military supply line, officials said.

The U.S. military said its losses in the raid near the northwestern city of Peshawar would have only a "minimal" impact on its operations against resurgent Taliban-led militants in Afghanistan.

However, the attack’s boldness will fuel concern that Taliban militants are tightening their hold around Peshawar and could choke the supply route through the famed Khyber Pass.

Up to 75 percent of supplies for Western forces in landlocked Afghanistan pass through Pakistan after being unloaded from ships at the Arabian sea port of Karachi. NATO is already seeking an alternative route through Central Asia.

The attack at the Portward Logistic Terminal reduced a section of the vast walled compound to a smoldering junkyard.

More…

Jim Sinclair’s Commentary

Arrested? Why? He deserves a medal for distinguished service to humanity.

Lawyer Dreier Charged by U.S. With $100 Million Fraud (Update3)
By David Glovin and Bob Van Voris

Dec. 8 (Bloomberg) — Marc Dreier, managing partner and namesake of the 250-lawyer New York firm Dreier LLP, was charged by federal prosecutors with cheating hedge funds out of more than $100 million.

Dreier, who has represented publishing executive Judith Regan and real estate broker Kenneth Laub, is set to appear today in Manhattan federal court to face securities and wire fraud charges. He faces as much as 10 years in prison if convicted of the most serious counts. Dreier’s lawyer, Gerald Shargel, didn’t return a call seeking comment.

The charges against Dreier, 58, a graduate of both Harvard and Yale Universities, came on the same day he was sued by Wachovia Corp. for defaulting on $12.6 million in loans. The U.S. alleged he lied to three unnamed hedge funds when he claimed to represent a New York real estate developer purportedly seeking to sell notes to investors. Dreier told the funds they may buy the notes at a deep discount from both the developer and the original note purchasers, prosecutors alleged in a criminal complaint.

One fund allegedly wired about $100 million to Dreier’s account in October after receiving phony financial documents written by the attorney, prosecutors said. Another fund allegedly wired about $13.5 million.

More…

Jim Sinclair’s Commentary

Pakistan has already accomplished two nuclear powers at DEFCON 1. This is nothing compared to what is to follow.

Not hoax call, claims Pak
KT NEWS SERVICE

NEW DELHI, Dec 7: Pakistan Friday night asserted that the threatening call to its President Zardari on November 28 was put out from "a verified official Phone Number of the Indian Ministry of External Affairs" and blamed the Indian High Commission in Islamabad for trying to paint it as a hoax call.

"The identity of this particular call, as evident from the CLI (caller identity) device, showed that the call was placed from a verified official Phone Number of the Indian Ministry of External Affairs", Pakistan Information and Broadcasting Minister Sherry Rehman claimed in a written statement issued in Islamabad and also circulated in Delhi.

She also blamed indirectly an Indian High Commission official for planting a report in the Pakistani media that it was a hoax call and condemned "efforts aimed at using media for negative diplomacy at a time when tensions are running high between Indian and Pakistan." According to her, the report in Pakistani English daily ‘Dawn’ that some imposter called up Zardari, posing himself to be External Affairs Minister Pranab Mukherjee, was "based on a briefing given to a few journalists by a responsible senior official of a neighbouring country based in Islamabad."

Pointing out that all calls received in the Presidency are processed in accordance with an intricately laid down procedure and as such "it is not possible for any call to come through to the President without multiple caller identity verifications," she said the call under reference too was "processed, verified and crosschecked under the same procedure."

More…