Pelosi To Play Yoda In Star Wars Remake

Turkey Moves Closer to an Incursion Into Iraq
http://www.nytimes.com/2007/10/16/world/middleeast/16iraq.html?_r=1&ref=middleeast&oref=slogin

BAGHDAD, Oct. 15 — Tensions mounted along the Iraqi-Turkish border on Monday as the Turkish government sought parliamentary approval for military raids into northern Iraq. The vote in Parliament would permit Turkish armed forces to cross the border in pursuit of Kurdish rebels who launch attacks into Turkey from the Kurdish region of Iraq.

The rebels, members of the Kurdistan Workers’ Party, known as the P.K.K., have taken refuge in mountain redoubts on the Iraqi side of the border. They are separatists who want an autonomous Kurdish region in the far eastern part of Turkey.

The Turkish Parliament is expected to vote Wednesday and approve the motion, which would authorize the Turkish military to make as many entries across the Iraqi border as necessary for one year. The raids would be aimed solely at the P.K.K., said a government spokesman, Cemil Cicek, in a televised news conference.

This "news", buried in most newspapers, has been driving the price of Oil higher over the past few days, and in turn the price of Gold. Certainly the Dollars inability to benefit from seemingly positive economic data has added fuel to the fire, but speculators are all over this story. And when the speculators sense the story is no longer "news" they will book their profits.

In truth I'd be more concerned with the actions of that little Californian Troll, Nancy Pelosi, in our Congress. There are countless things wrong in America and she's busy blathering about the death of some Armenians a century ago:

Genocide vote will damage US-Turkey relations, says general
Turkey's top general has warned that military ties with the US will be irreversibly damaged if the US Congress passes a resolution that labels the first world war killings of Armenians a genocide.

Pelosi says she'll press on with Armenian 'genocide' resolution
WASHINGTON (CNN) -- House Speaker Nancy Pelosi said Sunday that she intends to move ahead with a vote on a resolution that labels the deaths of more than a million Armenians during World War I as genocide.

Turkey's top general warned Sunday that ties with the United States will be irreversibly damaged if Congress passes the resolution, The Associated Press reported.

Turkey has recalled its ambassador from Washington for consultations and warned of cuts in logistical support to the United States over the issue. The recall is only for a limited period of time, said a U.S. State Department official who talked to the ambassador.

"If this resolution [that] passed in the committee passes the House as well, our military ties with the U.S. will never be the same again," Gen. Yasar Buyukanit told the daily Milliyet newspaper, according to AP

The House Foreign Affairs Committee voted 27-21 Wednesday to approve the nonbinding measure, which declares the deportation of nearly 2 million Armenians from the Ottoman Empire between 1915 and 1923 was "systematic" and "deliberate," amounting to "genocide." The deportations led to the deaths of an estimated 1.5 million people.

Nancy Pelosi is an ignorant dumb ass and a shit-stirrer. She makes Rosie O'Donnel look like a genius. I vote that somebody should slap that stoopid bitch up.

Ahhh, that felt good to get off my chest...

Gold hit another new high overnight, and Silver has been some what weak. I maintain my conviction that a retreat is forthcoming. Keep an eye on the Yen. The newly minted carry trades appeared to be taking a hit yesterday as the Yen showed a sign of strength. A move in the Yen through 85.88 could spark some selling in Gold. A retreat in Oil prices could spark a sell-off in Gold as well. There is a lot of "speculative froth" in both Oil and Gold right now that needs to be drained from both markets. Remain poised to pounce on any buying opportunities.