Saturday, July 27, 2013

Responsible loan schemes and speculative riches

"Responsible resource development". I mean, if it's not ethical, at least it's responsible right? They've got to sell it as something...
NIAGARA-ON-THE-LAKE, Ont. – The premiers of British Columbia and Alberta have launched a joint plan to expand exports of oil, gas and other resources, laying the groundwork for new pipeline projects to the west coast.
...
“We understand in British Columbia how important it is that resources get to the coast,” said Clark, standing next to Redford. “We are getting our natural gas to the coast and off to Asia, hopefully selling it at a much, much higher price. We understand the economics of that. And Alberta understands that social licence is something that’s important for moving resources so we’re going to work through some of those details together and you can’t do that if you don’t sit down and talk.”
...
One of the things that’s been really exciting this year, I think right across Canada, but particularly in Alberta and British Columbia, is we’re seeing a number of people who are really coming to terms with the fact that responsible resource development is what’s going to allow us to continue to have economic growth in Canada,” Redford said.
"Responsible", the "social license".

Cold Lake oil spill leaking for months: Documents
Underground oil spills at an Alberta oilsands operation have been going on much longer than previously thought, according to new documents. Files released to the Toronto Star show the spills were discovered nine weeks ago, but new documents show that bitumen has been leaking since the winter.

Canadian Natural Resources Ltd. operates the Primrose oilsands facility three hours northeast of Edmonton where four ongoing underground oil blowouts have contaminated forest, muskeg, a lake and have already killed dozens animals including beavers, ducks and birds. According to a government scientist who has been to the site, neither government or industry are able to stop the spills.
...
Critics are now looking for answers about the spills. How long have they been going on? Why have local First Nations and the public been kept in the dark? And finally: Isn’t it time for a full examination of the dangers of CSS and in-situ oilsands production to measure and understand its real impacts?

As industry and government scratch their heads about the identity of scientist who leaked the documents, the scientist notes, “I really hope I don’t lose my job, but I really felt that this was too important to sit on.”
Alberta knows all about "the social license" and how to extend it and pull the wool over the eyes of it's own people. Responsible resource development? No plan to stop the underground blow outs of their fancy shmancy "in-situ" technology (which is touted as better than strip mining) but there is certainly a plan to expand our oil exports! Priorities people, priorities.

After all, if we're "coming to terms" that exploiting the wealth of future generations for all eternity is really the only way to "have economic growth in Canada" then all other considerations must be moot. So fuck those future generations, we need to sell more now, at higher prices! Ethics be damned. Now about those disasters...
As Canada’s premiers press Ottawa to cover half the cost of mitigating future disasters in the country, Alison Redford says prevention measures must take into account the changing weather patterns battering Alberta.
...
These events are getting more severe, they’re more intense and they’re more frequent. We recognize that, there’s a clear pattern out there — and it’s necessary to move on these matters as climate change issues continue to gather steam and storm.”

The issue of disaster mitigation has risen to the forefront in Alberta following June floods that inflicted heavy damage on High River, Calgary, Canmore and other communities across the province.

Redford said that in a meeting with the Insurance Bureau of Canada this week, the industry pegged insurable losses from the flooding at $1.3 billion, although the bill is expected to grow.
Any flood mitigation steps the province takes — such as building floodways, dikes or elevating homes in at-risk areas — must recognize the climate is changing, she said in an earlier interview.

“We’re seeing unexpected weather patterns, we’re seeing unpredictable circumstances with respect to weather at the moment. One of the things we talked about with the Insurance Bureau of Canada, of course, is that we are seeing climate change,” Redford said Wednesday.
And so the responsible thing to do of course is expand our oil exports? After all the taxpayer will be covering all the damages right and that's not real money anyway. It certainly is not part of "economic growth" which we need "responsible resource development" to grow which of course is going to be needed for "disaster mitigation" as a result of responsible actions. This is all making perfect sense. It's a good thing Canadians "are richer" on average to handle the increased costs...
The report attributes the improvement to a 5.4 per cent increase in liquid assets and a 5.1 gain in real estate values, in conjunction with a more modest 3.3 per cent rise in debt.
Good thing every Canadian owns a house, err, wait.. And isn't it houses that get destroyed by disasters? Ahh, small considerations right? We're richer! And we have more debt! We're about to have a lot more debt as the governments cobble together all sorts of "loan schemes" to help cover the damages. How many years on end do you think we'll be able to come up with new schemes?

Responsible is the last word I would apply to our "resource development" and the social license is expiring.


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Richard Fantin is a self-taught software developer who has mostly throughout his career focused on financial applications and high frequency trading. He currently works for eQube gaming systems.

Nazayh Zanidean is a Project Coordinator for a mid-sized construction contractor in Calgary, Alberta. He enjoys writing as a hobby on topics that include foreign policy, international human rights, security and systemic media bias.

Saturday, July 13, 2013

The Affordability Factor

Old economy Steve thinks that things are going great.
Markets no longer have to choose between a stronger economy and easy money. Now they can have both.
The baby-boomer wet-dream has come true! Wow, the economy is like so strong and stuff, has it been workin' out? Markets are doing so amazing! It's a good thing they are tied to the reality on the ground right and not some speculative fantasy world where high prices and low wages equals economic recovery. Oh, right, that IS our world, isn't it?
But energy is another story, with crude oil prices already shrugging off the threat from China, a recession in Europe and even rising production levels in the United States. Oil approached $106 (U.S.) a barrel on Friday, close to a two-year high, making you wonder where the price will go when the global economic outlook improves.

If Canadian energy stocks finally respond to current oil prices, the gains are going to be sweet – especially if the Canadian dollar continues to weaken. Consider that when crude oil moved above $105 a barrel in 2008, Canadian energy stocks were more than 20 per cent higher than today’s levels.

The downside is limited, with the market already pricing in signs that China’s economy is heading toward a hard-landing and investors looking anxiously at rising U.S. oil production levels.
Wow, people actually take investment advice from this guy?!  "the downside is limited". Haha, wow! just wow! When are "investors" (read: speculators or traders) going to realize that they create these bubbles at a time when energy costs are incredibly high and affordability is incredibly low? Uhh, well gee, what happened last year after oil and gas prices spiked, oh yea oil fell down to $80! High oil prices kill economies that rely heavily on manufacturing (like China!) and guess what? High gas prices kill economies that rely on consumerism, you know, like the U.S.. When economic growth in those types of economies stalls resource producers (like Canada) are next as commodity prices collapse. We've observed this pattern repeat itself several times since the initial collapse in 2008 when oil reached $147/barrel.

What's really interesting about this authors assertions is he completely ignores the abnormal aspect of what's happening in the sense that it might represent a deeper problem. Earlier in the article he says:
Copper, one of the most important industrial metals, has fallen about 15 per cent this year and is down more than 30 per cent since 2011.

Canadian commodity-related share prices have also fallen on hard times. Energy stocks are no higher today than they were in September 2009. Stocks in the materials sector have fallen 50 per cent over the past two years.
Combine that with:
Oil approached $106 (U.S.) a barrel on Friday, close to a two-year high, making you wonder where the price will go when the global economic outlook improves.
Uhh, hello?!?! You don't see anything wrong with this picture then do ya David Berman? Oil will just rise, because, because.. "the U.S. economy is on the mend"? Hah, right. And affordability? Well let's see.

Inflation Is Too Low? Are You Kidding Us Bernanke?
Gassing up this summer is about to get more expensive, analysts warn
US wholesale prices up 0.8 percent in June driven by gasoline
Pain at the pumps as gas jumps 6 cents

Oh yea, this will continue for awhile right, this will not be like the last time last year when high prices collapsed growth (again).

There are few real investors left, most have now become traders. Real investors have an eye for the future, invest in the future not only looking for returns but rather returns on good idea which propel our species forward in general. Not speculating on commodities for "sweet gains".

A real investor looks at the world around him, and adapts. For instance, David Berman says:
As for the upside, it never hurts to look beyond near-term nervousness and instead focus on the bigger picture: China is a big economy that needs oil. A hard-landing won’t change that for long.

And there is always the possibility that a hard-landing won’t even occur, making today’s gloomy outlook for commodities a gift for anyone who prefers to buy stocks when others are avoiding them.
China finance minister signals may accept growth below 7 percent
World’s Largest Auto Market Plans to Restrict Car Purchases
China's appetite for Canadian resources in deep freeze

And the U.S. who Mr. Berman is saying is the reason China's slower growth won't be a problem for us? Well...

'Pothole Robin Hood' Steals Asphalt, Fixes Potholes
Climate change will disrupt energy supplies, DOE warns
As Congress debates food stamp cuts, moms fret about feeding kids

But don't worry the U.S. is going to continue funding things like Al-Qaeda in Syria and drones, so all of you "investors" in the market of death should do quite well. Hey speaking of Al-Qaeda in Syria, check this out:
Activists say Syrian rebels and fighters from an al-Qaeda-linked group have turned their guns on each other and are fighting for control of a key checkpoint in the northern city of Aleppo.

The Britain-based Syrian Observatory for Human Rights says Saturday's clashes are focused on the strategic checkpoint in Aleppo's Bustan al-Qasr district.

The checkpoint is the only gateway between rebel-held eastern districts and the city's western areas, controlled by President Bashar Assad's troops.

Earlier this week, al-Qaeda-linked militants seized the checkpoint and closed it for several days, cutting the flow of food supplies to the city and triggering the confrontation.

Residents angry over the blockade have staged protests against the anti-Assad forces as food prices soar in Aleppo at the start of the Muslim Holy month of Ramadan.
It's like the mainstream media has just given up trying to hide the fact the west is backing terrorists. Someone better tell old economy Steve.

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Richard Fantin is a self-taught software developer who has mostly throughout his career focused on financial applications and high frequency trading. He currently works for eQube gaming systems.

Nazayh Zanidean is a Project Coordinator for a mid-sized construction contractor in Calgary, Alberta. He enjoys writing as a hobby on topics that include foreign policy, international human rights, security and systemic media bias.

Friday, July 12, 2013

Is an ocean acidification dieoff already in effect?

Today's revelations regarding the oil sheen in the Athabasca River being a large Algae bloom are quite interesting. At first you might say, oh good, it's just Algae, but one has to wonder if maybe this is a preview of something bigger.

The massive amounts of marine die offs are continuing at a startling pace and have been for years now.

For instance:
JACKSON, Miss. (AP) — Two state agencies say algae blooms and a lack of oxygen in the water are responsible for a fish kill on the Mississippi Gulf Coast.

Dead fish started washing up early Monday on beaches in Hancock and Harrison counties and on Cat Island. That's according to a news release from the Department of Environmental Quality and the Department of Marine Resources.

The chief scientific officer for the Department of Marine Resources, Kelly Lucas, says there were widespread areas of low dissolved oxygen. He also says there were high concentrations of microscopic algae that cause blooms known as "red tide." He says the algae are nontoxic but can clog the gills of fish.

The news release says hot summer temperatures can cause areas of very low or no oxygen.
And Alberta:
Consultants hired by the Athabasca Chipewyan First Nation say the algae bloom is probably the result of high water from record-breaking rainfall combined with unusually warm temperatures.

The scientists say dead fish floating on the river probably died as a result of oxygen starvation from the out-of-control algae growth.

Keep in mind this has been happening consistently for the past (how many??) years. Brazil , Lake Erie, all over.

Here is the IAEA on Ocean Acidification and "harmful Algae Blooms".

At first you might be relieved that the oil isn't oil, but rather a large Algae Bloom, at first, anyway...



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Richard Fantin is a self-taught software developer who has mostly throughout his career focused on financial applications and high frequency trading. He currently works for eQube gaming systems.

Nazayh Zanidean is a Project Coordinator for a mid-sized construction contractor in Calgary, Alberta. He enjoys writing as a hobby on topics that include foreign policy, international human rights, security and systemic media bias.

Thursday, July 11, 2013

Nobel Peace Laureate Tells Her Account of What She Witnessed In Syria

Quite a different take in comparison to the "reports" we get here in Canada (and other western nations).


Canadian Trends: A war of aggression under the cloak of discretion

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Richard Fantin is a self-taught software developer who has mostly throughout his career focused on financial applications and high frequency trading. He currently works for eQube gaming systems.

Nazayh Zanidean is a Project Coordinator for a mid-sized construction contractor in Calgary, Alberta. He enjoys writing as a hobby on topics that include foreign policy, international human rights, security and systemic media bias.

Wednesday, July 10, 2013

As the tables turn

Hey! Good news, pretty well the entire planet has become more corrupt. Of course corruption is great for business! Just look at the markets over the same period of time! The more we speculate people out of the market, the more housing starts there are, the more loans people get with the seemingly endless "cheap credit", the greased deals where industry is "private" but our government officials do all the work on their behalf; top priority!

This is great news folks, this means that like the folks I wrote about in my last posting we will not receive any warnings that something is wrong for those very warnings may destroy the confidence center of the single-celled parasite we call an economy which is keeping the whole shebang together! If that falls apart those corrupt fucks don't get paid, the banks don't get to continue rehypothecating currency into infinity, and you don't get their table scraps. That would be bad. We can handle corruption we just can't handle economic contraction.

Corruption translates to global anger

Sure the honey bees are dying, and no one knows why (or will admit why eh?). Whatever right? Business is business, those putting the entire planet at risk for their business are within their right to do so because their profit is at stake. And sure despite "industry" not having any fucking clue what to do with tailings really we should be expanding these operations even if 'the environmental impacts will likely be so severe and "irreversible"' that we have to have "new protected areas" which "should be created to compensate for the damage". No fucking problem folks. We'll just *CREATE* new areas! There are a ton of "unused areas" on the planet, you know it's sort of like an unfinished basement on a house. We can just protect other areas instead! I was going to put my crapper in the corner, but I guess I'll put it on my mantle instead, afterall: "Many of the concerns and issues related to this proposal have to do with the pace of development of the mineable oilsands and the capacity of the regional environment to absorb these developments." - So why slow down the pace? Let's ramp this bitch up! But when shit gets flooded out, you better feel sorry for our dumb asses. Yep, life is good in Alberta.

Speaking of flooding, and all of the focus on every area except Fort McMurray (you know the place that Canada is banking on to support all of our new found "wealth"?), they've got some serious problems. More money from higher levels of government are going to be required. Consider that if Canada can't even properly prepare for an oil market that does stuff like.. move and change prices and all those annoying things, I wonder how prepared we are for our new weather reality and the associated costs? The figures might be on the back of a napkin somewhere but we're all too busy eyeing the oil prospects in the Arctic to care. Business is good, just look at the market, just don't look at the people the markets affect.

In fact oil as a whole isn't doing too good right now:
I think at this point really we are beyond just "corruption" don't you think. It's called fascism, it's the merger of corporation and state but really it's beyond even fascism and into feudalism as the global corporate masters are in control of governments and these governments are simply relegated to the task of distributing the tax dollars left over that are not paid directly to the banks in interest in a manor which the IMF and other monetary "super-powers" declare "not too risky". But risky bank trades? Blame Greece or something, the global financial powers are not worried about those.

The global financial powers are however worried about you. You might get angry, like these guys, and there's a whole terrorist apparatus and police truncheon response waiting for you when you do.

The Economist: Secret Government: America Against Democracy

Everybody will be angry soon enough for one reason or another. You'll all be angry and that's what they're afraid of, for then the tables turn. Let's all be angry together.


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Richard Fantin is a self-taught software developer who has mostly throughout his career focused on financial applications and high frequency trading. He currently works for eQube gaming systems.

Nazayh Zanidean is a Project Coordinator for a mid-sized construction contractor in Calgary, Alberta. He enjoys writing as a hobby on topics that include foreign policy, international human rights, security and systemic media bias.

Tuesday, July 9, 2013

The abrupt and the restless

I've just come across perhaps the most perfect article that just captures our whole situation in an accelerated nutshell.

80 workers let go after long-time Edmonton company closes
Workers at one of the Edmonton's oldest companies are angry and hurt after the company fell abruptly into receivership, putting 80 employees out of a job.

Marv Holland Apparel, which makes work uniforms and fire-retardant protection gear, had been in business for 65 years, but closed its doors at the end of June.

"They called us at 9 o'clock in the morning and said, 'You have no more job, you're terminated,'" Asha Shergill told CBC News at a gathering of employees in front of the company's warehouse at 10939-120 Street Friday.

Employees were given 10 minutes to leave the building, she said.

"It hurts so much because 39 years I spent with Marv Holland," she said. "It hurts so much."
Employees had no inkling the company was in trouble.
"If I did, I wouldn't have bought a new car," Anna Barbosa. "I'm angry, yes. They should have at least told us. They should have been up front with us and told us and been honest with us and told us there is a problem happening with Marv Holland."

Now Barbosa is pulling her son out of daycare to save money.

The company filed for receivership the same day workers were fired, leaving workers blaming the new owner and poor management.

Marv Holland sold majority ownership in the company three years ago to Victoria, B.C. entrepreneur Peter Gustavson.

. In the past two years, the company did cut costs by outsourcing products to China and Mexico.

Now employees are scrambling to determine what to do.
It just has it all! eh? Company? Country? It makes no difference. What is perhaps the most fitting metaphor though for our situation is that the company didn't even tell their employees there was something fatally wrong. If they had, even if there was nothing that could be done to stop the overall decline, the employees would have been able to properly prepare. Everything was seemingly going great, until it wasn't and now 80 more angry people have been added to the flames of general discontent.

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Richard Fantin is a self-taught software developer who has mostly throughout his career focused on financial applications and high frequency trading. He currently works for eQube gaming systems.

Nazayh Zanidean is a Project Coordinator for a mid-sized construction contractor in Calgary, Alberta. He enjoys writing as a hobby on topics that include foreign policy, international human rights, security and systemic media bias.

Priorities, Past and Present

When it comes to preparing for our future, the human race which bases preparation off historical events and statistics is at a serious disadvantage especially in the modern day where historical statistics rarely if ever represent the situation of the day.

Two examples of this came across my desk today that I'd like to look at.

Safety rules lag as oil transport by train rises

This article provides a great example of how we project the results of past investment into the future where this investment does not exist.

Air Brakes are supposed to be "fail-safe". So what caused the Lac-Megantic disaster?
This is very different from the way it used to be. Not that long ago, before cutbacks and efficiencies, there were brakemen who would manually lock each car down and then tell the engineer he could shut down his engine. (see comment at bottom of post).

In this case, the railway was shipping 73 tanker cars full of oil, parked it by the side of the road with the engine running and didn't even put on the parking brakes. This isn't a couple of wagons full of wheat, it is explosive stuff that is taking over the railroads.

This wasn't brake failure; The air brakes did exactly what air brakes do when you turn off the air supply and leave. This was human failure in neglecting to set the hand brakes. It was a systemic failure in designing a system without backups. It was a management failure, with cutbacks so severe that trains are run by one person, they leave running engines unattended and don't have the brakemen to do what is obviously a critical job, setting the handbrakes.
When we look at rail safety in the past and try to compare it to now we're not comparing the same set of circumstances; today's world is 100% focused on the bottomline, and the bottomline trumps all. If we continue down this path of budget cuts to balance a budget that's made possible through a private bond buying process, every year cutting more and more to 'meet our obligations' then this might be the state of our infrastructure sooner rather than later.

As a society we have a hard time projecting our path into the future, especially when it comes to things like cuts. When we cut services or costs for this year's budget we are not thinking about the level of service in 5 years or 10 years. Every year it's more cuts, but what happens when there is nothing left to cut? What happens when the cost of the disasters caused by these cuts dwarf the costs of the services to begin with? What happens when we've cut every last penny we can, eliminated every public service possible and find ourselves still with mounting debt?

It's not like things are getting better, every year it gets just a little bit worse (this year due to the sheer number of disasters that's probably going to be a lot worse) and every year just a little more is cut to make up for it. It's not just about public services though where we as a society are unable to prepare for an inevitable future or perhaps simply don't want to...

When it comes to finances, not all boomers are in the same boat
The biggest differences between early (mid-60s) and late (mid-50s) boomers has been the migration from the defined benefit pension plan (DB) to the defined contribution (DC) plan that has left many of those not yet retired on their own when it comes to investing.

The 'it's all yours, buddy' plans that many late boomers are relying on present them with a unique challenge when compared with the secure income plans their older siblings are living off of.

For this reason, late boomers may want to look into annuities in order to provide them with a guaranteed source of income throughout their years in retirement,
the report states.

...

What's worse, more late boomers admit that they're already financially challenged even though many are still working. The biggest reason seems to be that 34 per cent of them are currently supporting an adult child compared to 21 per cent of early boomers.

Most boomers report helping out
by providing free room and board, but also contributing to major purchases like cars or computers, helping pay for rent and groceries and of course, paying off credit card bills.
We've talked here before about how the boomer's will end up taking on their debts whether they want to or not simply because they will be forced into providing for their children or relinquishing them into poverty due to stealing their wealth. To maintain the "middle-class life" that the boomer's children have grown up expecting the boomers themselves are finding they're having to foot the bill and provide for it. This is being portrayed as some sort of financial issue for the boomer's looking to retire but the real financial issue really resides with those who they are having to support: their children.

Kelly McParland: Canadian wages suffer from moribund middle
Vancouver real estate: The $1-million white picket fence
“Buying a Vancouver house is not even close to affordable for us,” said Mr. Kebede, 28, a graduate student who rents a two-bedroom suite with his brother for a total of $1,300 a month. Mr. Kebede, Ms. McDonald and Mr. Thomas are each renting modest places on the East side, where accommodation is more affordable than on the West side.
Of course Canada is just going to keep on pretending this is all according to our "economic action plan":

Ottawa’s move to tighten Canada’s mortgage rules a year ago helped cool down the country’s real estate market by forcing some first-time home buyers to delay their purchases, economists say.
To delay them until.. when? Never? But there's no housing bubble here folks.

So today we have all sorts of articles talking about the retirement problems the boomers are facing or will shortly face but how many articles asking whether retirement is even going to be possible for the younger generations? Our attitude as a society is that those retiring today are entitled to their retirement portfolios and those retiring in the future are only entitled to whatever is left over from that. And if nothing is left over then.. what? Anyone know? I think the time should be asking is now while we have the resources to reorganize the remaining resources in an equitable way for everyone rather than asking when it's already too late, but that is what we tend to do though, isn't it?

Starting to see the problem and relations? We project into the future using the data of today. There isn't a second thought about whether further expanding infrastructure which is already suffering from service cuts and age is a good idea or if it's even up to the challenge. We don't account for the coming budget cuts of the future which will be added onto the ones this year, and the ones last year, and so on. We're not preparing at all for the affordability cliff that's going to slap us in the face shortly as the true scope of baby boomer support for the younger generations comes into view. We still think we're living in a world where will simply "return to growth" and as a society we are intent to pursue this goal even if we blow through every available resource in the process. Our priorities are set even if we destroy ourselves in the process. The trends are all in motion and apparent and the only thing standing in the way of the change needed for the future generations is an obsession with the past and our squandered fortunes.


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Richard Fantin is a self-taught software developer who has mostly throughout his career focused on financial applications and high frequency trading. He currently works for eQube gaming systems.

Nazayh Zanidean is a Project Coordinator for a mid-sized construction contractor in Calgary, Alberta. He enjoys writing as a hobby on topics that include foreign policy, international human rights, security and systemic media bias.

Tuesday, July 2, 2013

UPDATE-2: We got 'em! The terrorist non-threat of the non-explosives.

Well look at that, we got dem dere a couple of dem domestic terrrrrorists! Fully fledged domestic terrorists following the "ideology of al-Qaeda", whatever that means. So... did they hate western freedom? Or.. what? Did they hate their own freedom? Because I'm pretty sure that the Al-Qaeda "ideology" that was sold to us was hating our freedom, wasn't it?
The RCMP revealed little about the suspects and their background or what may have motivated the alleged conspiracy, other than repeatedly saying the pot was linked to an "al-Qaida ideology."

When asked whether the plot had a religious motive or was instead driven by something else, Assistant Commissioner James Malizia sidestepped the question.

"When I refer to radicalized or self-radicalized, it is radicalized to violence, so taking violent acts with a specific ideology in place," said Malizia.

"In this case here, the ideology had to do with a criminal act, wanting to pursue criminal act on behalf of an organization that they believed in, and that organization and the ideology behind that organization as you know it is the al-Qaida ideology."
Durka Durka Stan.

Ugh, seriously.

So these devices which were "inert" (but how they became 'inert' without assistance ...?) and "completely under the RCMP's control", were allowed to make their way to the B.C. legislature or maybe just arranged to get there I can't find any article with a solid answer on this. That's interesting isn't it? Given that the RCMP had "complete control" wouldn't this seem like the perfect opportunity to invoke the lovely "pre-emptive arrest" of bill S-7?
Nuttall and Korody are alleged to have made three explosive devices out of pressure cookers, similar in make to the type of bombs used in the recent Boston Marathon Bombings that killed three people and injured more than 260, and placed them or arranged to have them placed around the Legislative buildings in Victoria.
Now don't get me wrong, these folks don't really sound like nice people. Nutall apparently had numerous run-ins with the law. Which also is interesting, isn't it? Guy was a goon for hire, converts to Islam (of course), and decides what he really needs to do is anonymously indirectly help al-Qaeda. Of course! Unleashing Jihad and whatnot. I really find it interesting he was a goon for hire but decided to do this you know, just because. Free of charge for al-Qaeda.
He added police were in “tight control” of the bombs as they were being constructed and the public was never at risk of being harmed by the “inert” devices.
So if the pre-emptive arrest law is not to arrest known terrorists who have discussed "various targets" and had bombs that were in "tight control" of the RCMP then who is it there to pre-emptively arrest? Or was this allowed to go as far as it did for the attention? Of course had he been pre-emptively arrested I would still be suspicious but I almost find the fact they are laying out the perfect case for pre-emptive arrest and not using it as even more suspicious. Had the case been that they were not in "tight control" that would be more believable.

To reinforce the media afterwards Christy Clark had this to say:
B.C. Premier Christy Clark said she was profoundly shocked by news of the arrests.

"But let me say this to those who resort to terror: You will not succeed," Clark told reporters at the legislature in Victoria.

"You will not succeed in damaging our democratic institutions. Just as importantly, you will not succeed in tearing down the values that make this country strong."
Shocked? It's not routine to inform government officials who might be targeted or in the proximity of terrorism? That's odd eh?

I think this pretty much sums it up:
"Yesterday's arrests demonstrate that terrorism continues to be a real threat to Canada," Toews said in a statement.

"The RCMP has assured me that at no time during the course of this investigation was there an imminent risk to the safety of Canadians."
So there you go Canadians, now you have a clear demonstration that domestic terrorism is a real threat and thus we must pass laws which curtail our freedom, dismantle our democratic institutions through omnipotent secrecy and justify spying on everyone. Values?

I just can't get over that.. "tight control". It rings very closely to the FBI instigated terror plots in the U.S.

No Canadians were harmed in the process of this demonstration.

Update-1

Bomb plot suspects' neighbour heard talk of 'jihad'
Thompson said she wasn't entirely surprised after hearing the news, as she witnessed some troubling behaviour at the home starting about four months ago.
So the strange behaviour started around the time the investigation started? Hmm..

Update-2

Depth of undercover police work's involvement in alleged plot to attack B.C. legislature questioned
But there are other questions about how much undercover officers might have enabled the suspects.

During Tuesday's press conference, when investigators were asked if officers posed as collaborators or supplied materials, the official response was cagey.

"The RCMP and its partner agency used all its available resources during this investigation," said assistant RCMP commissioner Wayne Rideout, referring to the Canadian Security Intelligence Service.

Questions have arisen about whether the accused couple were capable of hatching such an elaborate plot, and if they could have built the bombs on their own.

Andre Gerolymatos, another terrorism expert at SFU, says he hopes the RCMP didn't play a "Mr. Big" role in the investigation — something the force has done in the past.
 Canada Day plot suspects' friends mystified by allegations
Daryl Nelson said Nuttall was his best friend, but that Nuttall had recently dropped him as a paintball partner and opted to play with his so-called "Muslim brothers."

Nelson said three or four men from the mosque were constantly visiting Nuttal's apartment. One of the friends gave Nuttall a job, Nelson said.

"I don't know who these 'Muslim brothers' were," he said. "They were coming by his house every other day. One of them employed him at a furniture store apparently, got him delivering packages."

Nelson described Nuttall as a man with the mentality of a 16-year-old.

"He didn't have the money, didn't have the transportation. He didn't have the means. Where did he get the knowledge and the mentality to do this?"
Sounds like these "Muslim Brothers" were in "tight control".

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Richard Fantin is a self-taught software developer who has mostly throughout his career focused on financial applications and high frequency trading. He currently works for eQube gaming systems.

Nazayh Zanidean is a Project Coordinator for a mid-sized construction contractor in Calgary, Alberta. He enjoys writing as a hobby on topics that include foreign policy, international human rights, security and systemic media bias.