THE GLOBAL INSURRECTION AGAINST WESTERN OCCUPATION
The Dubai Financial Nuke - Shock Waves from Dubai Default About to Hit MarketsExpect Deflation, Dollar Rally, Gold Retreat What happened in Dubai just over a week ago was the bright flash, and the media have used the intervening period before the shock wave hits to reassure everyone that everything is going to be just fine - "You just relax, nothing will come of it, it's only $60 billion down the drain or whatever - have a cup of tea". The trouble is that it's not $60 billion at all - the reality is that this is a default on a massively larger scale. Dubai was a vast sinkhole into which western banks and governments unquestioningly poured not just billions but trillions of dollars which was then leveraged enormously by means of derivatives enabling Dubai to build itself up into a latter day Rome, with a level of opulence and extravagance that would have made Caesar green with envy.When people think of Dubai the things that come to mind are the massively extravagant 7-star hotels, the towering record breaking skyscraper, palm-shaped island resort complexes etc and forests of new office buildings and apartments etc. What the vast majority don't realize is that the stupendous leverage afforded by derivatives has in addition enabled Dubai to create an immense global empire of businesses, most of the elements of which are broke, having racked up staggering levels of debt. Dubai is the nexus of the derivatives pyramid and it is flat, stony broke. Where did all the money come from to pay for all these things? - why from taxpayers and pension fund contributors the world over of course, but especially in the US, with Wall St acting as a giant conduit sluicing a torrent of cash into Dubai. The interesting thing is that there was never any accountability - countries and companies vied with each other for the privilege of pumping money into the exalted kingdom, seduced by its supposedly limitless oil wealth, and requesting or requiring guarantees was regarded as impolite. Now that Dubai is broke, the Dubai government has suddenly distanced itself from Dubai World, and the attitude towards the Western banks and governments who have poured trillions into Dubai is "Tough luck - you lose, suckers". What this means is that trillions of dollars which are now counted as assets on the balance sheets of banks worldwide and especially in the US are actually liabilities. So what do you think is going to happen to the stock prices of these banks - and stock markets generally, when the world wakes up and acknowledges this reality - when the shock wave hits?? Small wonder that the charts for Goldman Sachs and J P Morgan look very like the market charts before the '87 crash, but that was "small potatoes" compared to what is coming down the pipe this time.
A somewhat faulty video but interesting all the same. What I learnt from it was the following:There's deflation in home prices, inflation in food prices. Food comes to the US from Mexico, China, Pakistan, India, Brazil. These have now become creditor nations to the US.The US is not a free market. It is submitted to the inflation tax. Property taxes, for instance, for the Chinese or any other nation investing in US real estate mean they'll be losing out just as the common man does. Stimulus creates unemployment by keeping prices artificially high. Consumers can't buy. Businesses go bust. People lose jobs.There's no such thing as a jobless recovery or borrowing one's way back to prosperity.Exports from China are drying up and so are those from Japan.The dollar has actually depreciated to 99% of its former value.
Huh? Morocco and Jordan send elite troops to assist humiliated Saudis in Yemen - 5.12.09UPDATE from the battle: A source close to the military correspondent in the Houthi province of Saada confirmed that elements of the Yemeni forces, which joined with the Saudi army in the last crawl on Mount Rumaih, clashed with the Saudi army with intense bombardment from the Saudi rear as the informed source said. These Yemeni army elements returned with spoils of Saudi Arabia including modern automatic rifles each of which costs more than 15 thousand Saudi Riyals, equivalent to the salary of approximately 40 Yemeni soldiers per month, as well as some of the munitions and supplies. The source revealed that the Saudi army now refuse the participation of the Yemeni army in ground operations. A Yemeni army conspiracy against Saudis complicates the situation on the ground even more.One would think that the Huthis are a 'superpower', not just a small group of Yemeni citizens defending themselves against three mighty armies: their own tyrannic government, reinforced by Jordan, and now Morocco special forces. According to the Houthi web site, reliable sources confirm that a Jordanian detachment of special forces arrived in Saudi Arabia on 22/11/2009, to reinforce the beleagered and humiliated Saudi ground forces in their invasion of N. Yemen which began 3 November 2009. Saudis additionaly requested pilots, and operations officers. This Jordanian contingent has been confirmed by the press elsewhere, for example here. Yemeni Government forces ended the latest of five ceasefires with the Houthis in August when they launched 'Operation Scorched Earth' —a name suggestive of the kinds of tactics that have been used - against the Houthis, seriously aggravating a humanitarian crisis that has seen over 175,000 displaced from their homes since 2004. Houthis defeated government forces, and captured considerable troops, and weapons. Humiliated Yemen sought and obtained support from Saudi Arabia, but Saudi forces too have been defeated. Now Saudi forces are bombing indisciminately North Yemen towns and villages using F15's and phophosous and cluster bombs, just like Israel used on Gaza. Amnesty International has urged Saudi Arabian authorities to investigate reported indiscriminate killing of civilians in Yemen. Al Quds Al Arabi online newspaper reports, quoting Spainish news sources, that following their humiliation at the border by Houthi fighters, Saudi Arabia requested reinforcements from Morocco's special forces to join the Saudi-Jordanian forces in their agression on the people of North Yemen. If Jordan and Morocoo could go to the aid of Saudi Arabia, they couldn't do the same for the Palestinians, could they?
Iran trade with LatAm tripled despite Israeli angst - Press TV – December 5, 2009 New data released by the International Monetary Fund (IMF) shows Iran’s trade with Latin America tripled to $2.9 billion in 2008. The report gives Brazil as the largest trade partner of Iran in Latin America with a turn-around of about $1.3 billion last year, says the Latin Business Chronicle. Since taking office in 2005, Iranian President Mahmoud Ahmadinejad has expanded Iran’s cooperation with many Latin American states, including Venezuela and Cuba.
Swiss Minaret Ban Hullabaloo - Bogus StuffWhy not complain about Palestine instead?If Muslims have the time and energy to complain about architectural bans, why not use that energy instead to complain about Palestine's occupation?
Sean O'Grady: UK economy to drop out of world's top 10 - 7.12.09Britain seems doomed to be relegated from the "premier league" of international economies over the next few years - with serious implications for its diplomatic status and international "clout". Stagnation at home and rapid economic growth in developing economies will push the UK as low as 11th in the global pecking order by 2015, according to analysis by the Centre for Economics and Business Research (CEBR).Having clawed up to fourth place by the start of this decade, the recession has already seen Britain overtaken by China, Italy and France, and it seems likely that the slide will get worse. Being ranked behind Brazil, India and Canada and only just ahead of Australia in the international league table, would add to existing pressure on the UK to relinquish some of its prized diplomatic privileges, such as the permanent seat on the UN Security Council, and its voting rights and power in forums such as the IMF.
Saudi Defaults - 7.12.09The UK Trade Minister (oxymoron), flew to Saudi Arabia last night to try to defuse a growing dispute that bankers say could do as much damage to the Gulf’s bruised financial reputation as the Dubai shock of ten days ago. Bankers are furious that two defaulting Saudi conglomerates that owe $20 billion (£12.2 billion) appear to be favouring local banks over foreign creditors. State-owned Royal Bank of Scotland, HSBC and Standard Chartered are all understood to have exposure to Saad Group and Ahmad Hamad Algosaibi & Bros (Ahab). Dozens of other Western banks are also owed money, including Citigroup and BHP Paribas. Bankers suspect that the two family-owned businesses, which defaulted over the summer, have privately reached agreement with local Saudi banks over restructuring their loans while leaving foreign banks in the cold. One senior banker told The Times yesterday: “Local banks appear to have been given preference.”
Is Copenhagen to be first step in creating a carbon based currency to replace failing dollar?Has it ocurred to anyone that the carbon trading schemes now in play could eventually evolve into a proxy global currency and eventually a real one? The dollar will debase down to zero in a few years (see video above)and we need a new global reserve currency.A carbon currency credit backed by a negative value (pollution).A master-stroke. Banks, goverments, politicians and climate financiers will make hundreds of billions, maybe trillions out of it.
It's downhill all the way for the Princes of Saud. And their cousins elsewhere. Thing is they haven't woken up to the realisation of downfall yet.
VIVA: Bolivian incumbent president Morales wins in elections (Xinhua on: 07.12.2009) www.chinaview.cn 2009-12-07 06:47:57 Print Evo Morales from the ruling Movement for Socialism has won the presidential election in Bolivia on Sunday, as exit polls showed.MEXICO CITY, Dec. 6 (Xinhua) — Bolivian incumbent president Evo Morales is expected to win a five-year second term until 2015 in the general elections on Sunday, exit polls showed. According to the exit polls by three local TV channels, 50-year-old Morales who became Bolivia's first indigenous president in January 2006 garnered 62-65 percent of the vote. His closest rivals, Manfred Reyes Villa of the Bolivian Progress Plan (PPB) and Samuel Doria of the National Unity party (UN), got 23-25 percent and 9 percent of the vote respectively. It was the first presidential election since the new constitution was approved in a referendum in January 2009, which scrapped a previous one-term limit for presidents and allowed current president to stand once more for reelection. So it's still fair and free time in Bolivia. Congrats Evo!
So "Q" is crushed on first appearance, along with one or two who dared a spot of argument. This blog suffers from the Cronos syndrome maybe. And the morgue outcome inevitably.
The Great Game: U.S., NATO War In Afghanistan Fifty or more countries in a single war theaterThe crisis confronting the world is not only the war in South Asia: It is war itself. More particularly, the recklessness of the self-proclaimed sole superpower and the military bloc it heads in arrogating to themselves the exclusive right to threaten nations around the world with military aggression.If that policy is not brought to an end by the real international community - the more than six-sevenths of humanity outside the greater Euro-Atlantic world (as it deems itself) - Afghanistan will not be this century's last war front but its first and prototypical one. Portents are of even worse to come.
Sunday, 06 December 2009 Rothschild Zionist Sarkozy Announces Creation of Paramilitary Groups'French President Nicolas Sarkozy has announced plans to form paramilitary groups to patrol parts of cities, the "banlieu", where large numbers of immigrants live, in a move that has disturbing echoes of Fascist Europe in the 1930s.Private "citizen" paramilitary groups are supposed to keep „law and order“ in the banlieue. But the decision to set them up ahead of the up ahead of up-coming regional elections will spark fears that will be employed to intimidate political opponents.Allowing an uregulated armed force to patrol high rise ghettos, blighted by unemployment and poverty and where the residents are disadvanatged by systematic racism, is also sure to create an atrmosphere of intimidation and violence and could ignite large scale social unrest.'
Copenhagen climate change summit to produce as much CO2 as an African country Researchers yesterday estimated that the bill for the 12-day jamboree will top £130million – and will generate as much greenhouse gas as an entire African country.
Afghanistan war surge: Non-defensive wars are unlawful orders. US military and all the soldiers from other countries trickling in must refuse and stop.
7:00 -- Carbon currencyNo question that the dollar and thus the entire west is dying but carbon currency? If it gets to that, they might as well instigate life tax and charge for air and water consumption. But all this hinges on west running the world. At the moment west is losing grip even on itself, that's 90% away from Bush II/Blair target.---------7:54 -- West FascismYes, west is collectivising everything. Banksters are creating superstate bank cabals. Governances are hoarding up power. Racist swill is quickly promoted. Firms are merging into one giant west-wide concern surrounded by barb wire producing war armaments. Cameras are spying on the west populaces night and day. But so what? At the end of the day, west has nothing, except stolen artefacts and shiny rocks. West produces nothing and can't live off its own turf. Despite feverish nazification of west, west has to engage internationally either as the rogue child murdering bully it's acting in Afghanistan, Iraq, Palestine, etc, where it meets zero resistance or as a slithering lizard spewing love overtures carrying pictures of chairman Mao like dear comrade Obama on his last Asia begging trip. Either way, west stands no chance. Murdering civilians, though despicable and enough to indict the whole damn west cesspit, brings it nothing. Nothing in short term and nothing in long term. Singing praises to China, begging Brazil for Olympic jobs, or trying to cut deals with Russia has yielded nothing but one long streak of embarrassments for the west pathetic two faced worms.Sarkozy can establish as many commando units he pleases. It changes nothing about west's terminal prolapse.----------------9:08 -- Afghanistan war surge: Non-defensive wars are unlawful orders. US military and all the soldiers from other countries trickling in must refuse and stop.Yes! Beautifully put! It's the duty of all humans, in fact signatories of geneva convention, to refuse and and such orders. But we're dealing with patent child murdering west beast from hell. Treaties like a child mean nothing to this parasitic baboon swill. Remember, a few years ago, the german bastards excusing their deranged crimes with "I was only following orders." West is THE disease and no logic, peace, understanding, communication, anything human for that matter, can be expected from it.
Poiuytr, first-rate summation of where we are at at this precise moment in time and space. I see what "Q" means by praising your intelligence, although the two of you seem to disagree on everything else. Iraqwar is fine in its own way. But NBN is absolutely unique.