Pirates Collect $150M Over Past Year at Expense of Global Economy

[CrimsonWhite]

Unbelievable.

In further evidence of the ongoing creation of a pirate economy, Kenya's foreign affairs minister said Friday Somali pirates have collected more than $150 million in ransoms over the past year, and called on ship owners not to pay when their vessels are hijacked.

In the past two weeks Somalia's increasingly brazen pirates have seized eight vessels including a huge Saudi supertanker loaded with $100 million worth of crude oil. Several hundred crew are now in the hands of Somali pirates.

"We are advised that in the last 12 months, ransom to the excess of $150 million has been paid to these criminals and that is why they are becoming more and more audacious in their activities," Kenyan Foreign Minister Moses Wetangula said.

FOXNews.com - Pirates Collect $150M Over Past Year at Expense of Global Economy - International News | News of the World | Middle East News | Europe News

 

[Epsilon Delta]

I saw the news on the day they captured that huge tanker. It's absolutely unbelievable! You hear about the Somali pirates but I always imagined they went for small catch. Guess not. This could just get worse.

 

[NOBama]

I saw the news on the day they captured that huge tanker. It's absolutely unbelievable! You hear about the Somali pirates but I always imagined they went for small catch. Guess not. This could just get worse.

It truely is unbelievable. These people have become so wealthy that they now have big enough ships to take them anywhere in international waters. They can get within several miles of their target and send 2 or 3 speed boats in to capture it. They've taken piracy to a whole new level.

If a fella had a mind to, now would be a great time to start a floating security company to protect the shipping lanes. It probably wouldn't be too hard to sell that idea either.

 

[J. Law]

Are not pirates considered as hostis humanis generis or the enemy of all nations? As such, can our country not arrest and prosecute them? I believe we can... the law of nations considers piracy as a crime against all nations and anybody can act to stop them. Else, new breed of terror will be amongst us.

 

[NOBama]

Are not pirates considered as hostis humanis generis or the enemy of all nations? As such, can our country not arrest and prosecute them? I believe we can... the law of nations considers piracy as a crime against all nations and anybody can act to stop them. Else, new breed of terror will be amongst us.

Legal-dictionary (yes, I had to look that one up!) takes the definition a step further:

Pirata est hostis humani generis. A pirate is an enemy of the human race. 3 Co. Inst. 113.

The biggest problem would be catching them, I would think. These people are willing to blow-up multi billion dollar ships if their demands are not meant, so they claim. This has to be a nightmare for shipping and insurance companies.

As far as deterrence, I know the Coast Guard patrols some shipping lanes but, they are too few and don't have the equipment to deal with high speed bat boats. I remember when I was in the CG we could hardly keep up with Russian trawlers when we caught them lurking within the 200 mile limit. Of course, they weren't really trawlers, they were trawlers being used for covert ops.

I question that 150M$ figure. It seems too low, for a variety of reasons.

 

[DavidS]

I think the biggest pirate is sitting at the desk of the Treasury Secretary right now. $150 million vs. $700 billion. Why isn't Paulson being arrested again?

 

[dilloduck]

I think the biggest pirate is sitting at the desk of the Treasury Secretary right now. $150 million vs. $700 billion. Why isn't Paulson being arrested again?

You're the one with the inside scoop on all the High financial types--you tell us ? and Why isn't Greenspan in jail with him ?

 

[DavidS]

You're the one with the inside scoop on all the High financial types--you tell us ? and Why isn't Greenspan in jail with him ?

Greenspan wasn't the one who threatened marhsall law if they didn't pass the bill. Greenspan wasn't the one who, once he got the $700 billion, gave half of it to his friends in the banking industry. Greenspan didn't see this coming. None of us saw it coming... it's like 9/11. Why didn't Clinton or Bush see it coming? It's not their fault that they didn't see it coming. What did they do once they knew there was a problem?

Greenspan hasn't been in the chair for years. He's an innocent bystander. Paulson on the other hand...

 

[dilloduck]

Greenspan wasn't the one who threatened marhsall law if they didn't pass the bill. Greenspan wasn't the one who, once he got the $700 billion, gave half of it to his friends in the banking industry. Greenspan didn't see this coming. None of us saw it coming... it's like 9/11. Why didn't Clinton or Bush see it coming? It's not their fault that they didn't see it coming. What did they do once they knew there was a problem?

Greenspan hasn't been in the chair for years. He's an innocent bystander. Paulson on the other hand...

Oh garbage, David---don't tell me Greenspan didn't see this crap coming---others have been predicting it for YEARS. People have been screaming to put a stop to these insane financial practices.

 

[DavidS]

Oh garbage, David---don't tell me Greenspan didn't see this crap coming---others have been predicting it for YEARS. People have been screaming to put a stop to these insane financial practices.

Then why didn't the Republicans do it? They had control of Congress since 1994, save losing control of the Senate for a term, but they very well could have created legislation in the House. Why didn't Bush do anything? Why didn't Paul O'Neil or John Snow do anything to stop it?

 

[dilloduck]

Then why didn't the Republicans do it? They had control of Congress since 1994, save losing control of the Senate for a term, but they very well could have created legislation in the House. Why didn't Bush do anything? Why didn't Paul O'Neil or John Snow do anything to stop it?

Thats a DAMN good question and if we could stop the partisan bickering maybe we could get a handle on it. SOMEBODY SOMEWHERE knows why this went on like it did and who were the head snakes. I'm guessing it's too big and dangerous to point the REAL finger.

 

[DavidS]

Thats a DAMN good question and if we could stop the partisan bickering maybe we could get a handle on it. SOMEBODY SOMEWHERE knows why this went on like it did and who were the head snakes. I'm guessing it's too big and dangerous to point the REAL finger.

Let's face it - the entire market collapse is due banks having all of this toxic debt. How did they get the debt? They made subprime loans.

The question is what's different about these subprime loans that were issued between 2005 and 2007 and all of the other subprime loans that have been issued for decades?

Let's face it - if the housing bubble hadn't been around, our economy would have never recovered from the dot-com bubble. And if the dot-com bubble would have never been around, our economy would have never recovered from the 1990s S&L crisis, which was caused by the 1986 tax reform act. The economy of the 1980s was only good because Reagan cut taxes for the rich. And that was done to help get us out of the 1970s energy crisis, which eventually resolved on its own.

What we see here is just massive government intervention after massive government intervention. And I'm afraid that neither McCain nor Obama would have the balls to let the economy work itself it. So now we're going to be in a Green Bubble and a Health Bubble... so we're going from recession to bubble, recession to bubble. I'm dizzy just thinking about it.

 

[dilloduck]

Let's face it - the entire market collapse is due banks having all of this toxic debt. How did they get the debt? They made subprime loans.

The question is what's different about these subprime loans that were issued between 2005 and 2007 and all of the other subprime loans that have been issued for decades?

Let's face it - if the housing bubble hadn't been around, our economy would have never recovered from the dot-com bubble. And if the dot-com bubble would have never been around, our economy would have never recovered from the 1990s S&L crisis, which was caused by the 1986 tax reform act. The economy of the 1980s was only good because Reagan cut taxes for the rich. And that was done to help get us out of the 1970s energy crisis, which eventually resolved on its own.

What we see here is just massive government intervention after massive government intervention. And I'm afraid that neither McCain nor Obama would have the balls to let the economy work itself it. So now we're going to be in a Green Bubble and a Health Bubble... so we're going from recession to bubble, recession to bubble. I'm dizzy just thinking about it.

And we just aimlessly float from one bubble to the next--completely at random--and the same people manage to stay afloat---no one steering the ship.
I'll never believe that no one knows what's in store for us or the world.

 

[Orange_Juice]

How does a thread on pirates turn ito a shouting match about the bailout?

 

[editec]

Are not pirates considered as hostis humanis generis or the enemy of all nations? As such, can our country not arrest and prosecute them? I believe we can... the law of nations considers piracy as a crime against all nations and anybody can act to stop them. Else, new breed of terror will be amongst us.

Yes, they are, and yes I quite agree with you.

Now ask yourself why this has ALREADY happened.

 

[NOBama]

How does a thread on pirates turn ito a shouting match about the bailout?

Post #6

 

[dilloduck]

How does a thread on pirates turn ito a shouting match about the bailout?

David compared paulson to a pirate. Pretty easy to figure out if you read it.

 

[BlackAsCoal]

I think the biggest pirate is sitting at the desk of the Treasury Secretary right now. $150 million vs. $700 billion. Why isn't Paulson being arrested again?

Best comment yet.

Let's think up all manner of ways to kill and perhaps rip apart and/or castrate these pirates .. while Paulson and the real pirates celebrate their incedible booty.

For every penny raise in the price of gas at the pump, it costs the global economy 1.4 billion dollars .. and when Bush triumphantly flew in from the heavens and stated "mission accomplished", he was absolutely right. Oil corporations were making more profit than any corporation in the history of Man. Since the invasion of Iraq they've had the global economy by the short hairs and they could squeeze whatever profits they wanted right into their pockets. .. Sweet

They could meet privately with Don Cheney, kiss his ring, and have his family, the US government, make an offer the Iraqis couldn't refuse.

They could rob and plunder right out in the open .. and didn't even have to wear masks .. Sweet

They could pimp the pump and suck the lifeblood right out anyone who dared stick it in .. they could pimp and fuck Americans right out of their homes .. and didn't even have to wear a big ass hat .. Sweet

The drug they sold was so seriously addictive, they had the entire planet hooked on it .. you know you gotta have it .. and they ran with the baddest posse the world has ever seen, the US military. Fuck with them and they'll drive-by and murder hundreds of thousands of people.

Nothing personal .. it's just business.

Oh Lawd .. how did I end up in the Matrix?

Please Lawd .. make these motherfuckers take the red pill.

 

[DavidS]

Best comment yet.

Let's think up all manner of ways to kill and perhaps rip apart and/or castrate these pirates .. while Paulson and the real pirates celebrate their incedible booty.

For every penny raise in the price of gas at the pump, it costs the global economy 1.4 billion dollars .. and when Bush triumphantly flew in from the heavens and stated "mission accomplished", he was absolutely right. Oil corporations were making more profit than any corporation in the history of Man. Since the invasion of Iraq they've had the global economy by the short hairs and they could squeeze whatever profits they wanted right into their pockets. .. Sweet

They could meet privately with Don Cheney, kiss his ring, and have his family, the US government, make an offer the Iraqis couldn't refuse.

They could rob and plunder right out in the open .. and didn't even have to wear masks .. Sweet

They could pimp the pump and suck the lifeblood right out anyone who dared stick it in .. they could pimp and fuck Americans right out of their homes .. and didn't even have to wear a big ass hat .. Sweet

The drug they sold was so seriously addictive, they had the entire planet hooked on it .. you know you gotta have it .. and they ran with the baddest posse the world has ever seen, the US military. Fuck with them and they'll drive-by and murder hundreds of thousands of people.

Nothing personal .. it's just business.

Oh Lawd .. how did I end up in the Matrix?

Please Lawd .. make these motherfuckers take the red pill.

Sometimes I wish I could take the other pill, wake up and not remember a thing of this that happened.

The best phrase in the world: "Ignorance is bliss."

 

[Hum Dinger]

Well, thank God for the Indian and Russian Navies. All it takes is international will and leadership. I guess the U.S. has left a vacuum for the past 8 years.