"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "


Chinese premier Wen Jiabao 12th March 2009


""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."


Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Sunday, February 12, 2006

Norwegian Stealth Boat creeps up on Virginia




The US Navy has been testing a new stealthy, fast, high tech Norwegian built catamaran which was is cruising off the shores of Virginia this summer. It's called the P-960 KNM Skjold (pronounced "shold," Norwegian for "shield").

Radar-absorbing materials in the hull make it look like a small fishing boat on an enemy radar screen, instead of a ship half the size of a football field. And the Skjold is networked from bow to stern with nearly 40 computers.

"It's all very automated," said Rune Anderson, the Royal Norwegian Navy officer who is commanding the ship on its US visit. "There's a lot of computers helping us out. The total crew will be about 15." That's half the crew of an American patrol craft of similar size.

The Pentagon is evaluating lighter, faster ships as part of its military "transformation" plans for handling small regional missions and homeland defense. Such craft would move in squadrons of four to six vessels, which is how the Skjold is configured in the Norwegian navy.

The Skjold measures 157 feet long and 45 feet wide. It's built of a light, superstrong foam composite about 3 inches thick. Giant fans below deck create a cushion of air that lifts the ship five feet above the surface for high-speed cruising.

"We have a transit speed of 50 knots-plus," Anderson said. "We have very good sea-keeping -- we can maintain high speed in bad weather -- and that gives you a short reaction time in any situation."

The Skjold is designed to carry surface-to-surface missiles with a 100-mile range and three-inch guns.

The Norwegian Navy is paying $50 million a ship. But with mass production for the US Navy, the cost could drop significantly. The Pentagon doesn't have a specific time line for selecting or deploying this type of high-speed craft.

The Skjold completed its one-year visit to the United States in September, when it returned to Norway.

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