Archive for 03/09/2012

‘Apostate’ Saudi Journalist Facing Death Sentence ‘Repents’ in Court

03/09/2012 Leave a comment

Here’s an update on this story about a journalist from Saudi Arabia who, confused and disillusioned by the prophet Mohammed, decided to tweet about it. Apparently the “Qur’anic Cure” had no effect, but the specter of death by beheading did wonders for the muddled mind. No word, however, on whether or not the god of Islam has decided to forgive the repentant writer. According to the religious leaders in Saudi Arabia, Allah may be “the Most Gracious, the Most Merciful”, but only as long as you always keep your head on straight. Otherwise, you might just lose it …

“An apostate Saudi journalist who is believed to be facing execution for insulting Prophet Mohammed … has repented at court and this means reduced sentence.

According to the Arabic language daily Sharq, Hamza Kashgari declared his repentance before the judge at the court in Riyadh.

‘Kashgari declared his repentance and expressed regret for offending the Prophet … this means he will face a light sentence,’ the paper said, citing Kashgari relatives.

The 23-year-old man, who works for Albilad Arabic language daily, fled to Malaysia last month after King Abdullah ordered his arrest on charges of apostasy in an article he wrote on Twitter. A few days later, he was deported to the Kingdom and arrested on arrival.

Speculation mounted after his arrest that Kashgari could be executed following statements by a senior Saudi Muslim cleric that the writer would be sentenced to death for apostasy.

Sheikh Saleh bin Fowzan Al Fowzan, a member of the 7-man supreme committee of scholars in Saudi Arabia, said it has been established in Islam that any one who insults God or the Prophet should be killed.

‘Repenting will not work…any man who insults [Allah] or our Prophet (PBUH) should be killed,’ he said. ‘But we should first verify that this man (Kashgari) did insult Prophet Mohammed in his article on Twitter…if verified, then he must be killed……many scholars and people are now demanding his execution.'” Source – Emirates 24/7.

Solar Storm Reveals Sting in Tail, Grows Stronger

03/09/2012 Leave a comment

“Space weather forecasters say the solar storm that seemed to be more fizzle than fury got much stronger in recent hours.

It is now the most potent solar storm since 2004.

So far, no power outages or other technological disturbances have been reported from the solar storm that started on Tuesday.

It reached Earth on Thursday morning at mild levels.

But for several hours early on Friday morning it turned strong.

Scientists say that is because the magnetic orientation of the storm flipped.

And more is coming. The US government’s Space Weather Prediction Center says the same area of the sun erupted again on Thursday night, with a milder storm expected in the early hours of Sunday morning.” Source – 7 News.

Another CME is Heading for Earth: “Sunspot AR1429 has unleashed another strong solar flare, an M6-class eruption on March 9th at 0358 UT. The blast hurled a coronal mass ejection (movie) almost directly toward Earth. According to analysts at the Goddard Space Weather Lab, the CME will arrive on March 11th at 0649 UT (+/- 7 hr) adding to the geomagnetic unrest already underway. An animated forecast track shows that the cloud will also hit the Mars Science Lab spacecraft and Mars itself on March 12th and 13th, respectively.Geomagnetic storm alerts: textphone.” Read more.

Categories: Cosmic Craziness

Writing on the Wall: ISDA Declares ‘Credit Event’ in Greece, Moody’s Declares Default

03/09/2012 Leave a comment

“The International Swaps and Derivatives Association (ISDA) has decided unanimously today to declare that Greek’s bond swap constitutes a ‘credit event’ and that ‘the right of all holders of the affected Bonds to receive payments has been reduced,’ according to release published by the ASDA late Friday.

Investors that bought Credit Default Swaps (CDS) on Greek debt will get paid. Nevertheless, ISDA Committee will Meet again to discuss Greek credit event on Monday according to Dow Jones.

ISDA has resolved to hold an auction with respect to the settlement of standard credit default swaps that will take place on March 19, 2012. Maximum amount will be $3.16 billion of net outstanding Greek credit default swap contracts but exact amount of money will be determined by the auction.

ISDA follows Rating agencies steps, SP was said last week that Greece was in selective default while earlier on Friday, Fitch Ratings downgraded Greece to ‘restricted default’, as expected. This decision comes after Greece completed the bond swap deal with its private creditors on Thursday with a 85.8% participation.” Read more.

Moody’s: Greece has defaulted – “Moody’s Investors Service considers Greece to have defaulted per its default definitions. The announcement comes despite Athens reaching a deal with private creditors for a bond exchange that will shave €107 billion from its €350 billion debt. The agency pointed out that even though 85.8 per cent of the holders of Greek-law bonds had signed to the deal, the exercise of collective action clauses that Athens is applying to its bonds will force the remaining bondholders to participate. Eventually, the overall cost to bondholders, based on the present net value of the debt, will be at least 70 per cent of the investment, Moody’s explained. ‘According to Moody’s definitions, this exchange represents a ‘distressed exchange,’ and therefore a debt default,’ the US rating firm said.” Read more.

Categories: Man-Made Disasters
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