If you happened to be focused on other things yesterday, say like the House passing health care legislation late on a Saturday night, you may have missed a semi-important story about the Iranian nuke saga.

Over the last several months the press, several governments, and pundits world wide have given Iran a lot of attention.  Specifically, what is the true intent of the nuclear program current underway.  Is it for energy, as Iran would have the world believe, or for something a bit more questionable?

World leaders gave Iran the  benefit of the doubt – or the appearance of the benefit of the doubt – and offered a solution to the country.  The basis such belief was this: If the Iranian government was truly interested in producing nuclear energy, let Russia enrich nuclear fuel rod for that purpose.

Iran gave an initial “yes” but that didn’t last for long.

“Iran is not to give any of its 1,200 kilograms (of) fuel to the other party to receive 20 percent (enriched) fuel and whether gradually or at once, this will not be done and is called off,” Boroujerdi reportedly told ISNA.

I fully believe Iranian government wants nuclear weapons – if they don’t have them already. This isn’t to “wipe Israel off the map” as the Iranian leadership has suggested, but to remove any government in the mid-east that does not share the same religious values the of the Iranian government; however, I also feel like there is a mild march to way that is being pushed by a number of world powers.

Over and over Iran has shown to the world they will not honor deals brokered by the UN, Russia or any other government.  They will act in the manner that best fits their wants and desires.  This only gives others (Israel and the US) the ability to push for war…  the balanced dance of mid-east politics may come to an explosive end if clear  minds do not prevail.

Unemployment

Unemployment hit and blew through the 10% barrier; the U.S. is now “officially” at 10.2%.  If one uses the broadest government indicator of unemployment the number comes in at roughly 17.8% but if one removes the government birth/death numbers (and other assumptions) unemployment actually is reported around 22.1%.

The reason for the roughly jump from 9.8% to 10.2% is being pinned non-farm payroll decline of roughly 190,000 individuals.  The forecasted loss was 175,000.

In December of last year I stated my belief that unemployment would be at 10% by the end of 2009.  That said, the fact that the U.S. hit 10.2% in October – not November or December – is a bit of a surprise for me.

With the dollar decline/gold rise, Capmark/CIT bankruptcies, and earnings events now in recent memory, I can sit down and write why I believe the U.S. is facing potential hard economic times in 2010. Expect that post this weekend…

UN’s ElBaradei say Inspectors found nothing to worry about in Iran

I have serious doubts about this comment:

The International Atomic Energy Agency (IAEA) chief says that UN inspectors have found “nothing to be worried about” in Iran’s latest nuclear facility.

There are three reasons as to why I hold a bit of skepticism:

1. ElBaradei has been shown to alter information that would favor Iran. It is very clear that he can no longer be considered a neutral party.
2. Because the UN states this location is not a concern does not clear other Iranian facilities
3. The UN is demanding Iran explain evidence suggesting that Iranian scientists have experimented with an advanced secret nuclear warhead design

So does any of this make sense?

I truly want to know how ElBaradei has the audacity to comment to the world that Iran is not pursuing nuclear weapons when his own organization possesses evidence Iranian scientists are moving in that direction.

There is no clear status indicator for the Iranian Nuclear program but it does not take an individual with a Ph D to see what the true intent of Iran is, does it?

Gold hits a new high

I semi-mentioned this above, and I will go into detail this weekend, but gold has established a new record price.

For a quick moment gold touched $1,101.90 per ounce.  What does this mean?  How does this impact the world? What is the driving force for such a movement?  I’ll give my thoughts this weekend.

Did you really expect any other outcome here?

Iran’s government said tonight that it saw a UN-brokered deal to export much of its enriched uranium “in a favourable light”, but asked for a few days’ extension of a UN deadline to make up its mind.

Under the deal, Iran’s stockpile would be reduced by three-quarters, potentially defusing a crisis in the Gulf. The deal had been agreed in principle by Iranian negotiators earlier this month, but Western observers said the delay in its confirmation reflected disputes and indecision at the top of the government in Tehran.

Diplomats said that Iran had also withdrawn from another commitment to hold talks next week on its enrichment programme, leaving the Obama strategy of engagement up in the air.

Iran’s state-run TV channel quoted Ali Asghar Soltanieh, ambassador to the International Atomic Energy Agency (IAEA) in Vienna, as saying his government looked on the deal favourably but would give its final response next week.

Inspectors are expected at Iranian nuke sites on 10/25, how do you think that is going to turn out?  I’d be very nervous if I was on the team that needed to visit…

The news of out Korea (North and South) all points to North Korea testing more of their military toys.  Today it happens to be a new type of short-ranged missile. Reports of activity around ballistic missile sites are also coming in, and U.S. officials are warning that more nuke tests should be expected in the coming months.

All of this makes me ask – What’s up with North Korea?

Originally, I thought the nuke test took place to correspond with Memorial Day as NK executed other such tests on U.S. holidays in hopes of getting our attention.  This time, however, the level of continued military testing seems rather unusual.  Rather elevated.

Sure, it could be the North simply playing with their toys, but the timing and activity level is questionable.  All of this makes me ask what is North Korea trying to get from the world community?  As the country has virtually no energy resources, could they be trying to get more oil?  Do they want increased grain shipments?  In the past, the NK leadership would hit and “we need…” in exchange for an end to the testing.  No so this time.

Something doesn’t fit.

While the useless body called the U.N. sits around debating what type of draft resolution should be presented, North Korea goes on their way testing.  Even if sanctions are past against North Korea, what is the U.N. going to sanction?  The country already has nothing.  You can’t really take away something from a person who has nothing to begin with.  The only outcome of sanctions will be increased anger (or aggressive positioning) on the part of North Korea.

So, really, what’s the deal and how is the world going to react?