1983: The Brink of Apocalypse

1983: The Brink of Apocalypse

November 8th 1983 is now recognised as one of the most dangerous moments in history, when Soviet fingers hovered prerilously over the nuclear button. Senior figues in the Soviet Union had convinced themselves that they were going to come under attack from the West. This programme tells the story behind the sequence of events that led to this moment.





You can watch it on You Tube, the video and picture quality is far better. But unfortunately the stingy buggers of Channel 4 disabled the embedding feature.

Here’s the link

http://www.youtube.com/watch?v=KpxbpeuSQyA

74 comments:

James Wolfe said...

I was barely old enough to remember the USSR, but do I miss them. At least if they, the Soviets were still around the US wouldn’t have the guts to launch their global rape and pillage campaign for the past 10 years. Its amusing seeing despite all the propaganda and misinformation how human, humble & “normal” these Soviet military personnel were. Regan watching “The Day After” in his Camp David bunker, surreal!

It disgusting how Stanislaw Petrov the Soviet officer who overruled and ignored the computer warning system that said a missile attack was imminent (hence preventing Global Armageddon) was shabbily treated.

John Scarlett being the handler for Oleg Gordievsky, the same John Scarlett who forged the Iraq lies for the JIC and downing street in 2002. Now promoted to M16 spook chief. He’s a busy boy. As for Robert Gates, what a monosyllabic tool, how the fuck did he end up in “intelligence“. And what’s with Americans and silly nicknames: “Bud” McFarlane, why can’t he be called Rob, Bob or plane old “Robert”?

New Order: Blue Moon. Freddie Goes to Hollywood: Two tribes go to war. Nena: 99 Red Ballons/Luft ballons. You can’t dis 80s music........

83 Able Archer indeed..........


Oh yeah special shout out to Rainer Rupp aka Topaz........A true hero!!!

Man I miss the 80s......

James Wolfe said...

Sorry I meant New Order: Blue Monday.......Blue Moon is a Man City song lol

Anonymous said...

Interesting video and excellent introductory remarks. Thanks James. I´ve missed the Soviet Union all my life, knowing fully well that the pain of nostalgia is dangerous self-indulgence. As for has-been US of A, its global rape and pillage rampage is perfectly understandable in light of who the west´s minders are today. Tomorrow we´ll be attending their funeral with lightened hearts and sighs of relief.

Anonymous said...

The 80´s then. The selfish bastards in the west, scared for their skins, could march out on peace demos. Europe was on its best behaviour with its citizens to counter Soviet allurements. And the Soviet Union had already begun on its downward path. So, who cares? AA(not Alcoholics anonymous), but Able Archer and then the single A = Armageddon is our daily fare today, and no one in the west gives a damn. As for the Soviet Union, back to plain Russia now, it is all smiles today (I remember the remarkable scowls of Soviet leaders in the past)and playing a waiting game. You don´t pull up your socks, you Russians, you might well find yourself destroyed by the forces of history.

Anonymous said...

End of Predatory Capitalism
The impending collapse of Predatory Capitalism is coming fast. The BIG question is, will honest citizens have enough time to forge the necessary alliance to develop alternatives that will be more equitable and sustainable than Capitalism!

Anonymous said...

No way, 08:09, simply wishful thinking to believe there are any "honest citizens" still around. They have all turned as corrupt as their masters. I wish that bomb had gone off in 1983. That might have changed the world. As it is, with predatory capitalism rushing to join routine communism in the vast hell of failed ideologies, the feeling remains the only way out of this mess lies in yellow-cum-brown hands.

Anonymous said...

Another AA to add to the above, coined by Max Keiser this time, Americans Anonymous, so that China can get off its addiction to the dollar equal to the opium addiction once forced down the throats of the Chinese. Keiser says US will never be pay back its outstanding one trillion debt to China. He´s no doubt right. California will have to do instead.

Anonymous said...

Keiser is an ass. He forgot ot mention that China trades with Russia and Latin America as well as its fast track for invetments in Africa.

I think that the zious will soon wake up to the fact that China would throw the trillion in the trash basket after consolidating its trade and invetment positions in other geographic areas. The domestic invetment cannot all be of the sort of white elephant projects keiser talks about.

The infratructure building was the backbone in restructuring the third reich, mr. keiser has a lot to learn from history.

Anonymous said...

Good to hear James´s voice again after long silence. Sobering to think of yet another AA combination, Apocalypse and Armageddon, earlier avoided and now inexorably awaiting us at the end of the road.

Anonymous said...

The thing that this documentary doesn't quite get is that military drills and war games are in fact used as cover for actual military operations.

Not only was Hitler's invasion of the Soviet Union (Operation Barbarosa) done under cover of a military war game but a little thing called 9-11 was staged under cover of a military drill (i.e. see Operation ABLE DANGER).

Operation Able Danger
http://911review.org/Wiki/AbleDanger.shtml

Able Danger adds twist to 9/11
http://www.globalresearch.ca/index.php?context=va&aid=867

Anonymous said...

The inept Soviet Union versus the criminal US, that was the picture in 1983. Today, things have changed slightly. Other players have emerged, foremost among them China. There was an excellent piece on China by James Petras recently (see below).
I agree with him. But China has a central bank and central banks are controlled entities. The international financial powers which are mostly Jews have sucked America dry and there is nothing left. Time to move on one might think. But the financial powers want to remove 80% of the population of this Earth and the heavily populated countries such as India and China rejected Copenhagen. As a result the international financial powers have their backs to the wall. It seems that the financial powers don't have the control that they once thought. And just maybe the BOC is now controlled by the Chinese. Maybe the Chinese have learned a lot from the Jews to their own benefit, but will never let the Jews get control of their country. They are among the wisest of governing nations. This is a good thing. Maybe the future for the human race is not so bleak after all, bright even.

Anonymous said...

Caspian Sea Geopolitics: Nabucco will be the most expensive pipeline ever built (Excerpts)
by Dr. John C.K. Daly
Global Research, January 5, 2010
Oilprice.com

Inside Beltwayistan, a number of Bushevik oil patch zombies still roam the recession-blasted landscape mindlessly chanting their Caspian mantra, “Happiness is multiple pipelines” - with the caveat that they flow westwards and bypass both Russia and Iran . They’ve now added a new word to their vocabulary, “Nabucco,” and worse, have bitten a number of Obama administration officials and visiting European politicians, who have joined their shuffling ranks.

Their thinking remains somewhat clouded by primordial memories of Bush’s “fuzzy math,” as the statistics about Nabucco are contradictory, to say the least. State Oil Company of the Azerbaijani Republic (SOCAR) vice president Elshad Nasirov is now threatening to start selling Azerbaijan ’s natural gas, currently Nabucco’s sole projected provider of throughput, to Asian countries if Europe further postpones Nabucco’s construction.
Construction of the 56-inch, 2,050-mile pipeline, first proposed in 2002, is tentatively slated to begin next year and scheduled for completion by 2014. At a cost initially estimated at $11.4 billion and rising, Nabucco will be the most expensive pipeline ever built, more than three times the cost of the 1,092-mile Baku-Tbilisi-Ceyhan (BTC) oil pipeline. Raising such a significant sum in a time of global recession would be an article of faith at best.

Even assuming that Nabucco’s boosters manage to assemble a coterie of deep-pocketed suckers – er, investors, the only promised current volume for Nabucco's proposed 31 billion cubic meters (bcm) annual throughput is Azerbaijan's future offshore Caspian Shah Deniz production, estimated at 8 bcm. Even if Shah Deniz does end up supplying Nabucco, its currently promised throughput leaves a deficit of 23 bcm, leading to the question of exactly whose natural gas will Nabucco carry if SOCAR drops out, a worst case scenario requiring the Nabucco consortium to scrounge not 23 bcm, but all 31 bcm per annum, especially as Washington’s geopolitics invalidate the participation of either Russia or Iran?

Anonymous said...

Great news f/k the west pipe dreams
The west have themselves to blame. They murder everything that moves and expect the cream on top. Well thankfully while the west has been busy committing war crimes upon crimes against humanity the east has used its brains and consolidated its energy and control of energy. The west are suckers and fools.

Anonymous said...

Ever wonder what America's real agenda is at the Gitmo Gulag?

Rather than punishing "terrorists" could the real US agenda be training terrorists to be used as MK-ULTRA style sleepers and covert operators?

"As it is well-established that torture methods are worthless to obtain truthful confessions, some have speculated that the real goal of CIA and Pentagon interrogators at Guantanamo prison since September 2001, has been to use brutal techniques to train or recruit sleeper terrorists who can be activated on command by US intelligence, a charge difficult to prove or disprove. The presence of two such high-ranking Guantanamo graduates in the new Yemen-based Al Qaeda is certainly ground for questioning."

http://www.globalresearch.ca/index.php?context=va&aid=16786

Anonymous said...

Good point above, 16:32. Take care, however, with that Al Qaeda notion. It´s coded for ZioCIA. And so should be left strictly alone, according to me.

Anonymous said...

For those who know a little spanish please click on link.

peace

http://www.theclinic.cl/2010/01/05/franja-de-gaza-se-cumple-un-ano-de-la-operacion-plomo-fundido/comment-page-2/#comment-151560

James Wolfe said...

Thanks everyone, unfortunately I’ve been knocked down by the infamous flu, since Dec 23 I’ve been ill and coughing non stop. I’ve taken no medicine, cause I can’t buy any antibiotics without a Doctor’s prescription. As I can’t see my Doctor because the line is always busy, so I soldier on.

Regarding the West masses who were protesting en masse back in 1983 against the Pershing III cruise missiles in Europe. Its understandable, its one thing to feel sorry for people in Iraq and Afghanistan, a war that will never directly effect you. But war in Continental Europe will be a disaster for everyone, therefore they’ll be more urgency from the West masses.

James Wolfe said...

Madsen: Diplomat pedophilia is widespread

http://www.youtube.com/watch?v=pTNycS8bf0c

There is no depth to the perversion and depravity of the West, remember Operation Ore? The UK launched a operation on cyber paedos back in 2000/01 , one of the names that was bizarrely mentioned in the press was Peter Mandelson. Lawyers, judges, coppers, all “up standing citizens” were caught in the dragnet. Then suddenly the media forgets it, and focuses on "terror", Operation Ore is never mentioned again by either the Police or the media.

Sodomizing and abusing kids is the forte for the West rapists whether it be Korean, Vietnamese, Iraqi, Afghan, Filipino or Thai kids.

Remember Marc Dutroux? Not to mention the French mass rapists and murderer Michel Fourniret. The Euro elites are as perverted as their Anglo-American counterparts.

Anonymous said...

Some questions raised by the Yemen attacks:

"There is ... a prospect that Saudi Arabia will look to Pakistan for nuclear guarantees to supplement or replace U.S. security promises." (Inside the Saudi Succession)

The USA has considered the possibility of invading Saudi Arabia

According to former UK cabinet minister Mo Mowlam: The real goal of the USA is the seizure of Saudi oil.

It is possible that the assassination of King Faisal was the work of Mossad and its friends.

With countries like Saudi Arabia and Yemen, the Pentagon policy is Divide and Rule

On 20 December 2009, at OpEdNews, Rick Rozoff, wrote about Yemen: Pentagon's War On The Arabian Peninsula. According to Rozoff:

Yemen will become a battleground for a proxy war between the United States and Saudi Arabia on the one hand and Iran on the other.

BUT, what if the USA is planning to ally with Iran against Russia?

What if the USA is planning to break up Saudi Arabia?

What if the troubles in Yemen are all about a struggle between the USA on the one side and Russia and China on the other side?

Anonymous said...

James, what´s it with you and poiuytr, these unending coughing bouts? Sounds like bronchitis. Get hold of those necessary antibiotics by hook or by crook and bloom again. Anyway, thanks a lot for the Apocalypse video. Brought back those days of panic and disaster vividly. I´m glad there was no nuclear war then and I hope there will be none anytime in our lifetimes or those of our children and grandchildren.

Anonymous said...

Heavy casualties: Houthis ambush Saudi troops
5-1-10
Today: Saudi Arabia continued its aggression on Yemeni soil with 8 air raids and 333 rocket strikes into districts of Saada province and border areas within Yemen, in addition to 12 Apache air raids on Al-Jabri (Houthi occupied Saudi base).
Meanwhile, the Saudi army heavily backed units of their puppet Army of Yemen to advance on Mount Rumaih at 7am and ended at 4pm, after breaking up in complete defeat.
On the other hand, Saudi Arabian forces tried to infiltrate Mount Almdud, by stealth, without the cover of fire, but with the help of God were detected and carefully monitored by the people of Saada Province who prepared a well designed ambush.
Fighting ended at 5pm this afternoon in a humiliating defeat for the Saudi intruders into Yemen and great loss of life to the Saudi forces. As of this writing, Saudi forces dead bodies are lying on the ground. Remaining Saudi forces ran away from the battle and fled back, leaving their dead on the slopes of the region.

Anonymous said...

Schwarzenegger Girds for Deficit Fight as Borrowing Costs Soar: With a $21 billion deficit forecast over the next 18 months, the governor of the most populous U.S. state has said he won’t boost taxes again, leaving him reliant on spending cuts and federal help to balance the books next fiscal year, which starts July 1. (5.1.10)

Anonymous said...

Turkmenistan, Iran set to open new gas pipeline
By ALEXANDER VERSHININ (5.1.10)

ASHGABAT, Turkmenistan
Iranian President Mahmoud Ahmadinejad arrived Tuesday in energy-rich Turkmenistan to attend this week's opening of a new pipeline that will ensure a sharp increase in natural gas deliveries from the Central Asian nation.
Drawing on a gas field that has in the past been reserved for exports to Russia, the new 19-mile (30-kilometer) pipeline will eventually more than double annual pipeline capacity between Turkmenistan and Iran to 20 billion cubic meters.
When it is officially inaugurated Wednesday, the pipeline will be the second new energy route tapping into Central Asia's vast gas reserves to open in a month. The new energy export options will weaken Moscow's grip over the region's gas, while also dampening Western hopes of claiming a share of Turkmen energy exports.

Anonymous said...

Viva Palestina humanitarian aid convoy has arrived in the Egyptian port city of El-Arish to pass thought the Rafah border crossing into the Gaza Strip.

Update: Viva Palestina faced with 2,000 riot police in the port of Al-Arish! George Galloway protest on Sky News. 10000 Protest outside Egyptian Embassy in Ankara, Turkey,

BTW: One French activist in the group was reportedly killed a few days ago.

Anonymous said...

55 activists injured in clashes in Egypt
Wed, 06 Jan 2010

Around 55 people have been injured in clashes between Egyptian riot police and Viva Palestina activists at the Egyptian port of El-Arish.

The scuffles broke out after Egypt said it would not allow 59 humanitarian assistance trucks of the Viva Palestina convoy to enter Gaza.

Talks in which a delegation of Turkish lawmakers sought to convince Egyptian officials to change their minds proved fruitless.

The convoy arrived in El-Arish to attempt to break the siege of Gaza.

Earlier, Cairo had said it would only allow 157 members of the Viva Palestina convoy, which is led by British politician George Galloway, to drive to Gaza. However, later the Egyptian government agreed to allow 400 of the group's volunteers entry to the Gaza Strip.

The convoy has over 200 vehicles laden with basic food items and medical supplies.

ht tp://www.presstv.ir/detail.aspx?id=115451&sectionid=351020502

Anonymous said...

Iceland's president refuses to sign bank payout bill - 5.1.10

REYKJAVIK: Iceland's president said Tuesday he would not sign a controversial bill to compensate the British and Dutch governments over the failure of Icesave bank, instead referring the issue to a referendum.
"I have decided, according to Article 26 of the Constitution, to refer this new Act to the people," President Olafur Ragnar Grimsson said in a speech televised to the nation.
Britain insisted, however, that the compensation deal must go through, with the Treasury urging Iceland to meet its "obligations."
Under the Icelandic constitution, if a president refuses to sign a bill voted by parliament, the issue is put to a popular referendum.
The Icesave bill, narrowly approved by the Icelandic parliament on December 31, calls for the payout of 3.8 billion euros (US$5.4 billion) to the British and Dutch governments for having compensated more than 320,000 British and Dutch savers who lost money in the collapse of the Icelandic bank.

Anonymous said...

After Yemen, Enter Eritrea - 6.1.10

(This is secret: "Israel has two naval bases in Eritrea, Dahlak Island and Fatmain on the Red Sea. "Official sources noted that Israel is creating the biggest naval base outside Israel on the Dahlak Island.")

UN Council to put sanctions on Eritrea - diplomats. Of 15 Security Council members, only Libya is opposed - by Louis Charbonneau

UNITED NATIONS, Dec 16 - U.N. Security Council members have agreed to impose an arms embargo on Eritrea this month, as well as travel bans and asset freezes for government and military leaders aiding Somali insurgents, diplomats said.
The United States and other council members accuse Eritrea of supplying Islamist rebels with money and weapons in their fight to topple the fragile U.N.-backed transitional government in Somalia, a virtually lawless Horn of Africa nation.
Western diplomats on the 15-nation Security Council said most members of the panel have agreed to support a Ugandan-drafted resolution to punish Eritrea and that they hoped to approve it by next week.

And at year's turn, this actually happened and the infamous resolution was passed, make what you will of it.

Anonymous said...

Russia concerned over terrorist activity in Yemen - Foreign Ministry - 6.1.10
Russia is concerned over the rise of terrorist activity in Yemen and supports efforts by the Yemeni authorities to tackle extremism in the country, the Foreign Ministry spokesman said.
"Reports on terrorist occurrences and clashes, resulting in victims among citizens, have caused serious concerns. Moscow confirms its strong support of obstinate efforts by the Yemeni government aimed at fighting extremism, recovering social and economic situation and assuring effective control over the whole country's territory," the ministry's press service quoted Andrei Nesterenko as saying.
Nesterenko called for the international community to support Yemeni authorities' efforts to combat extremism, but warned against foreign interference in the country's internal affairs.
The U.S. embassy in Yemen was temporarily closed on Sunday due to the threat of an al-Qaeda attack. The U.S. lead was also followed by the embassies of France, the U.K. and Japan.

Anonymous said...

Britain lines up behind US aggression in Yemen
6.1.10
Once again, the British ruling class has become the first to line up full-square behind the latest military provocation being prepared by Washington. After its participation in the wars of aggression against Afghanistan and Iraq, as well as its support for attacks inside Pakistan, Britain has joined with the US in making Yemen the next target.
And, see above, Russia is also getting into the act. Is it a World War yet?

Anonymous said...

Oil prices at 14-month high - 6.1.10

Snow, ice and wind wreaked havoc on energy markets Wednesday, where a barrel of oil topped $83 a barrel for the first time since the fall of 2008. Natural gas futures soared 6 percent.

Anonymous said...

Viva Palestina Starts Entry To Gaza
Wednesday January 06, 2010

Report by George Galloway

The Viva Palestina Convoy, after facing ongoing Egyptian rejection and violent attacks by the Egyptian security forces, started on Wednesday evening to roll into the besieged Gaza Strip.

Thousands of Palestinians, carrying flowers and flags, gathered in the streets while the convoy continued to move in.

A Press conference will be held on Thursday and will be followed by the official ceremony of handing the international humanitarian aid.

The Qatar-based Al Jazeera reported that a convoy of eight truck started crossing the Rafeh Terminal.

On its website the Viva Palestina reported that “convoy continues to move into the strip to be greeted by flowers and flag-waving crowds. Press conference later to be followed tomorrow with ceremony to hand over the aid”.

Anonymous said...

The hour has arived!!!!
When conscious people should stand up for support of oppressed people everywhere.
And there are no more oppressed people than Palestinians. Peoples of the world unite against the oppressor!

Anonymous said...

What does the US really face in Yemen?
It is widely known that Al Qaeda is a subsidiary brand under the control of CIA, MI6 and Mossad with the purpose of spreading fear and terror. When the Western media use “Al Qaeda” to produce war sentiments in the population, then it should be immediately clear to everyone that there is something very suspicious happening. Currently, the mass media are scaremongering using the label “Al Qaeda” to persuade the population of the western world to join a US war in Yemen. But the US is not at war in Yemen against Al Qaeda. It is against the Shia Houthis whose strict anti-Americanism has already been a thorn in the US’s and its lackeys in the Arabian peninsula’s flesh.
Since August 11th 2009 the Shia Houthis have resisted being “eradicated” by the presidents “Operation Scorched Earth” and are defending the area around Sadah against Yemeni government troops, Saudi artillery and aircraft, Moroccan and Jordanian special forces and the US It has been admitted in the Western press that the US has used “Special Operations Forces“ and “specialists from the CIA” for over a year, and more recently, cruise missiles. General David Patraeus has declared that the US Navy in front of the coast of Yemen is there to prevent arms smuggling to the Houthis. According to information provided by Houthis the United States also operates a top secret airfield in northern Yemen, from where, almost daily, deadly bomb attacks are launched against the population in the area controlled by the Houthis.
According to the Yemeni government the Houthis only have about 3,000 fighters, but they managed to repulse an offensive of 30,000 Yemeni soldiers from their territory. This is the reason the US is currently planning to extend the secret war in Yemen against the Houthis so severely that it couldn’t any longer be hidden from the public.
What the war of annihilation against the Houthis is all about is as far as possible concealed. In the region of Qatif in eastern Saudi Arabia the world has witnessed violent protests in recent months by the local Shia majority against the oppression, economic disadvantage and discrimination by the US supported dictators from the Saudi capital Riyadh. The Wahhabi Saudi dictators and its backers in the US have shown naked panic of an armed revolt in Qatif by the Shia majority. The Houthis have responded to attacks from Saudi Arabia by repeatedly capturing border posts inside Saudi Arabia, gaining completely free access to heavy weapons and know-how for serious Shia resistance in Qatif.
If it comes to an anti-American revolution in Saudi Arabia, that would be a massive economic problem for the U.S. mafia state and it’s empire of global dominance. While the warfare state was busy assaulting Afghanistan and Iraq, they thought they dominated the Arabian Peninsula safely, but they have now got a resistance movement there.

Anonymous said...

Euro brinkmanship (Telegraph)
ECB shuts door on Greek bail-out, putting monetary union under threat.

Anonymous said...

Scandal of millions spent on US troops
BY MARY REGAN - 6.1.10

ALMOST €10million has been spent in just three years on protecting US troops passing through Shannon Airport on their way to wars in Iraq and Afghanistan.

Irish Department of Justice figures show the cost of providing garda security at the airport was €8.6million between 2006 and 2008. This includes €2.8million on garda overtime, more than €1million in expenses and subsistence claims by the gardaí and €4.8million in salaries.

During the same period, the cost of army patrols at the airport was €964,702, according to Defence Minister Willie O’Dea, bringing the total cost of security at the airport to close to €10million.

The latest figures show more than 243,000 US troops passed through Shannon Airport in 2009 — or 665 per day.

This brings to more than 1 million the number of military who used the airport en route to US wars in Iraq and Afghanistan since the start of 2006.

Anonymous said...

Here we go. First Russia bans swearing, now France has a law against quarelling. Have these govts really nothing better to do than to interfere in people's lives?

Thursday, 07 January 2010
France To Have Law Against Marital Arguments!
Married couples in France could end up with criminal records for insulting each other during arguments. Under a new law, France is to become the first country in the world to ban ' psychological violence' within marriage. The law would apply to cohabiting couples and to both men and women.

Super, just what we needed to accelerate divorce rates further and faster. West committing social suicide at a breathtaking pace.

Anonymous said...

Houthis retalliate: New Saudi base burns
(summary translation)

The Yemeni air force committed another massacre today by shelling Farwa - in the province of Saada. This attack led to the deaths of 15 Yemeni civilians and injured four others all from the same "Abu Dahel" family.

Yemeni Government forces also tried to advance into Al Iqab (Saada city viscinity) but was broken into retreat after heavy losses in life and equipment.

Saudi Arabia continued its criminal aggression by bombings in Saada province and border areas, including attacks by more than 1480 rockets, including fragment missiles and (gas) ...

In addition, for the third consecutive day the Saudi army and elements their puppet Yemeni army failed to advance under cover of missile fire, tank shells, and artillery.

From early morning until evening, Saudi war planes and Apache helicopters attacked Houthi positions in a desperate attempt to support their ground troops advance on two fronts (Mounts Rumaih and Almudud). The advance was finally broken, and forced to retreat in the evening, after heavy loss of life and the destruction of 3 Saudi armoured vehicles and 2 tanks.

In retalliation to these Saudi attacks, Houthis set aflame a newly built Saudi military base (Al Khawba area) after direct hits were inflicted by Houthi artilliary and Katyousha rockets. Ambulances were seen rushing in and out of the base, while flames were still raging.

Information Office of Mr. / Abdul-Malik Badr Eddin al -Houthi
6 January 2010
http://sadahonline.org/ar/home.html

Anonymous said...

Flames flickering a bit, 14:05, but, yes, you've got it right. May the inferno grow and engulf continents.

Anonymous said...

Internal EU-euro struggle. What's it with these people? The euro is getting bashed by the ECB, the City of London, etc. Greece. Iceland and god knows who else are in the process of getting the shove. Internal squabbles or soon-to-be open warfare?

Anonymous said...

The Bank of E at its latest meeting has established that, at 0.5pc, rates are about as low as they can go. Quantitative Easing is still ongoing: the Bank has bought about £190bn of bonds (by printing money electronically) and is set to raise this to £200bn by its February meeting.
So the big question was not what the Bank would do this month, but what it will do at the next juncture. And what will it do? The majority of economists seem to be convinced that it will hold fire, essentially freeze QE and start planning its exit strategies. And one can understand why. Almost every economic metric one can care to think of is improving.
Those purchasing managers indices this week suggest that both the manufacturing and services sectors are growing sharply: in other words, the recession is not only over, but the economy is growing at a fair snap. Moreover, unemployment is on the wane, consumer confidence is rising fairly quickly, and house prices have actually achieved a very positive year in 2009. Most importantly of all, Consumer Price Index inflation, which, lest we forget, the MPC is charged with keeping close to 2pc at all times, is likely to rise sharply above that level this month. (Telegraph)

Good cheer and green shoots again to coincide with the spring. Do you see them as well, poiuytr?

Anonymous said...

IMF REVOLT: Greece, Iceland, Latvia may lead the way

Total financial collapse, once a problem only for developing countries, has now come to Europe. The International Monetary Fund is imposing its “austerity measures” on the outer circle of the European Union, with Greece, Iceland and Latvia the hardest hit. But these are not your ordinary third world debtor supplicants. Historically, Iceland was settled by the Vikings, who successfully invaded Britain; Latvian tribes repulsed even the Vikings; and the Greeks conquered the whole Persian empire. If anyone can stand up to the IMF, these stalwart European warriors can.

Nonsense. Don't give yourself airs. Long before the Europeans even thought of such a thing as default, tiny Ecuador had declared IMF loans were illegitimate and not to be paid back.

Anonymous said...

UK-Norway in gas quandary:
With low gas reserves and record demand, further concern was raised today as Norway's largest gas producer, Statoil, announced that production is down at their Kroll A field - causing a dramatic fall in pipeline supplies to the UK from their biggest import source.

Anonymous said...

Going, going, gone. Europe gone in this freezing month of January, and who's to shed tears over it? Me not. Those of you who spend your time running down US, think Europe's crimes are twice as money, including that horror of a place called the United States which they and they alone colonised originally and till today. So three cheers for the demise of the most corrupt portion of the globe. And short life to good ole EUnuchia.

Anonymous said...

Russia, China, Iran redraw Energy Map. Obama is confused. - 8.1.10 - By M K Bhadrakumar
(Part One)
The inauguration of the Dauletabad-Sarakhs-Khangiran pipeline on Wednesday connecting Iran's northern Caspian region with Turkmenistan's vast gas field may go unnoticed amid the Western media cacophony that it is "apocalypse now" for the Islamic regime in Tehran.
The event sends strong messages for regional security. Within the space of three weeks, Turkmenistan has committed its entire gas exports to China, Russia and Iran. It has no urgent need of the pipelines that the United States and the European Union have been advancing. Are we hearing the faint notes of a Russia-China-Iran symphony?
The 182-kilometer Turkmen-Iranian pipeline starts modestly with the pumping of 8 billion cubic meters (bcm) of Turkmen gas. But its annual capacity is 20bcm, and that would meet the energy requirements of Iran's Caspian region and enable Tehran to free its own gas production in the southern fields for export. The mutual interest is perfect: Ashgabat gets an assured market next door; northern Iran can consume without fear of winter shortages; Tehran can generate more surplus for exports; Turkmenistan can seek transportation routes to the world market via Iran; and Iran can aspire to take advantage of its excellent geographical location as a hub for the Turkmen exports.
We are witnessing a new pattern of energy cooperation at the regional level that dispenses with Big Oil. Russia traditionally takes the lead. China and Iran follow the example. Russia, Iran and Turkmenistan hold respectively the world's largest, second-largest and fourth-largest gas reserves. And China will be consumer par excellence in this century. The matter is of profound consequence to the US global strategy.
The Turkmen-Iranian pipeline mocks the US's Iran policy. The US is threatening Iran with new sanctions and claims Tehran is "increasingly isolated". But Mahmud Ahmadinejad's presidential jet winds its way through a Central Asian tour and lands in Ashgabat for a red-carpet welcome by his Turkmen counterpart, Gurbanguly Berdymukhammedov, and a new economic axis emerges. Washington's coercive diplomacy hasn't worked. Turkmenistan, with a gross domestic product of US$18.3 billion, defied the sole superpower (GDP of $14.2 trillion) - and, worse still, made it look routine.

Anonymous said...

Redrawn Energy Map (Part Two)
There are subplots, too. Tehran claims to have a deal with Ankara to transport Turkmen gas to Turkey via the existing 2,577km pipeline connecting Tabriz in northwestern Iran with Ankara. Indeed, Turkish diplomacy has an independent foreign-policy orientation. Turkey also aspires to be a hub for Europe's energy supplies. Europe may be losing the battle for establishing direct access to the Caspian.
Second, Russia does not seem perturbed by China tapping into Central Asian energy. Europe's need for Russian energy imports has dropped and Central Asian energy-producing countries are tapping China's market. From the Russian point of view, China's imports should not deprive it of energy (for its domestic consumption or exports). Russia has established deep enough presence in the Central Asian and Caspian energy sector to ensure it faces no energy shortage.
What matters most to Russia is that its dominant role as Europe's No 1 energy provider is not eroded. So long as the Central Asian countries have no pressing need for new US-backed trans-Caspian pipelines, Russia is satisfied.
During his recent visit to Ashgabat, Russian President Dmitry Medvedev normalized Russian-Turkmen energy ties. The restoration of ties with Turkmenistan is a major breakthrough for both countries. One, a frozen relationship is being resumed substantially, whereby Turkmenistan will maintain an annual supply of 30bcm to Russia. Two, to quote Medvedev, "For the first time in the history of Russian-Turkmen relations, gas supplies will be carried out based on a price formula that is absolutely in line with European gas market conditions." Russian commentators say Gazprom will find it unprofitable to buy Turkmen gas and if Moscow has chosen to pay a high price, that is primarily because of its resolve not to leave gas that could be used in alternative pipelines, above all in the US-backed Nabucco project.
Third, contrary to Western propaganda, Ashgabat does not see the Chinese pipeline as a substitute for Gazprom. Russia's pricing policy ensures that Ashgabat views Gazprom as an irreplaceable customer. The export price of the Turkmen gas to be sold to China is still under negotiation and the agreed price simply cannot match the Russian offer.
Fourth, Russia and Turkmenistan reiterated their commitment to the Caspian Coastal Pipeline (which will run along the Caspian's east coast toward Russia) with a capacity of 30bcm. Evidently, Russia hopes to cluster additional Central Asian gas from Turkmenistan (and Kazakhstan).

Anonymous said...

Redrawn Energy Map (Part Three)
Fifth, Moscow and Ashgabat agreed to build jointly an east-west pipeline connecting all Turkmen gas fields to a single network so that the pipelines leading toward Russia, Iran and China can draw from any of the fields.
Indeed, against the backdrop of the intensification of the US push toward Central Asia, Medvedev's visit to Ashgabat impacted on regional security. At the joint press conference with Medvedev, Berdymukhammedov said the views of Turkmenistan and Russia on the regional processes, particularly in Central Asia and the Caspian region, were generally the same. He underlined that the two countries were of the view that the security of one cannot be achieved at the expense of the other. Medvedev agreed that there was similarity or unanimity between the two countries on issues related to security and confirmed their readiness to work together.
The United States' pipeline diplomacy in the Caspian, which strove to bypass Russia, elbow out China and isolate Iran, has foundered. Russia is now planning to double its intake of Azerbaijani gas, which further cuts into the Western efforts to engage Baku as a supplier for Nabucco. In tandem with Russia, Iran is also emerging as a consumer of Azerbaijani gas. In December, Azerbaijan inked an agreement to deliver gas to Iran through the 1,400km Kazi-Magomed-Astara pipeline.
The "big picture" is that Russia's South Stream and North Stream, which will supply gas to northern and southern Europe, have gained irreversible momentum. The stumbling blocks for North Stream have been cleared as Denmark (in October), Finland and Sweden (in November) and Germany (in December) approved the project from the environmental angle. The pipeline's construction will commence in the spring.
The $12-billion pipeline built jointly by Gazprom, Germany's E.ON Ruhrgas and BASF-Wintershall, and the Dutch gas transportation firm Gasunie bypasses the Soviet-era transit routes via Ukraine, Poland and Belarus and runs from the northwestern Russian port of Vyborg to the German port of Greifswald along a 1,220km route under the Baltic Sea. The first leg of the project with a carrying capacity of 27.5bcm annually will be completed next year and the capacity will double by 2012. North Stream will profoundly affect the geopolitics of Eurasia, trans-Atlantic equations and Russia's ties with Europe.
To be sure, 2009 proved to be a momentous year for the "energy war". The Chinese pipeline inaugurated by President Hu Jintao on December 14; the oil terminal near the port city of Nakhodka in Russia's far east inaugurated by Prime Minister Vladimir Putin on December 27 (which will be served by the mammoth $22-billion oil pipeline from the new fields in eastern Siberia leading to China and the Asia-Pacific markets); and the Iranian pipeline inaugurated by Ahmadinejad on January 6 - the energy map of Eurasia and the Caspian has been virtually redrawn.
The year 2010 begins on a fascinating new note: will Russia, China and Iran coordinate future moves or at least harmonize their competing interests?

Ambassador M K Bhadrakumar was a career diplomat in the Indian Foreign Service. His assignments included the Soviet Union, South Korea, Sri Lanka, Germany, Afghanistan, Pakistan, Uzbekistan, Kuwait and Turkey.

http://www.atimes.com/atimes/Central_Asia/LA08Ag01.html
__

Anonymous said...

"If anyone can stand up to the IMF, these stalwart European warriors can."

Bwahahahahaha!

All hail the stalwart Euroweenie warriors!

The IMF is not an independent institution. It it largely a proxy of the USA.

So are you saying that Eunuchistan is going to stand up the USA?

Anonymous said...

12:18 - Good comment on the Euro warrior nations. They love telling heroic tales about themselves, don't they? And they even begin believing in their veracity. Lord, I wish we were already ten years ahead now. We'd see how they cringed and begged, the hero persona completely stripped away.

Anonymous said...

China central bank surprises with yield hike
Lu Jianxin and Jacqueline Wong - 7.1.10
China's central bank surprised markets on Thursday by raising the interest rate on its three-month bills for the first time since August, intensifying its grip on liquidity a day after it promised to keep credit growth in check.
While analysts said the move was just a withdrawal of surplus cash in the system, markets feared the worst, taking it as a sign the central bank could be getting ready to use more forceful measures to cool growth and fight inflation, such as raising benchmark lending rates.
The move was accompanied by the biggest weekly net drain from money markets in 11 weeks.
The prospect of a tougher policy stance from Beijing sent Chinese shares tumbling and hit a range of commodities, as investors feared that putting the brakes on growth could weaken the appetite of the world's third-largest economy for steel, copper and other resources needed to fuel it.
But analysts said the move should be seen more as an effort by the People's Bank of China (PBOC) to even out the flow of liquidity into the system, in particular to press banks not to repeat the start-of-the-year rush to lend that marked 2009.

Anonymous said...

Putin warns Russia is prepared to go on the weapons offensive - 8.1.10

The Russian Prime Minister argued that the construction by Washington of an “umbrella” against “offensive strike systems” – a reference to Russia’s strategic deterrent – would break the nuclear balance the two superpowers with the result that the Americans “will do whatever they want and grow more aggressive”.

As a result, Mr Putin issued a belligerent caveat to the US: “In order to preserve a balance, while we aren’t planning to build a missile defence of our own, as it’s very expensive and its efficiency is not quite clear, we have to develop offensive strike systems.”

Anonymous said...

US sheds 85,000 jobs in December, dampening optimism - 8.1.10

The US economy lost 85,000 jobs in December while the unemployment rate held at 10.0 percent, the government said Friday in a report dashing hopes of a turnaround in the ailing labor market.
The figure was far worse than the consensus expectation for no change in overall employment levels, and came amid a wide array of predictions ranging from steep losses to modest gains.

Anonymous said...

Apparently today, Jan 8, Gaza has come under attack by Israeli forces. But we here and elsewhere cannot give a damn.

Anonymous said...

China's defense ministry denounces U.S. arms sales to Taiwan
BEIJING, Jan. 8 (Xinhua) — China's Defense Ministry on Friday expressed strong indignation and firm opposition to the U.S. arms sales to Taiwan, urging the U.S. to respect China's core interests and immediately withdraw related arms sales items.
"The U.S. side clings obstinately to the Bush administration's plan of arms sales to Taiwan, which severely undermines the mutual trust between two militaries," said Defense Ministry spokesman Huang Xueping in a statement.
"It also brings severe obstacle to the improvement and development of China-U.S. military ties," Huang said. "We reserve the right of taking further actions."
Huang's remarks came amid reports that the U.S. Defense Department had recently awarded Lockheed Martin Corp a contract for selling an unspecified number of advanced Patriot missiles to Taiwan.

Anonymous said...

US airports censor RT (Russia Today) ads
http://www.iraq-war.ru/article/214827

http://rt.com/ads?fullstory

Anonymous said...

Russians should ban everything American in their country. And Muslim countries should follow suit,

Anonymous said...

Also, US Congress is going after every Mideast TV Channel because criticism of Israel is just not on. Media wars in full swing to complement those on the ground. Ban the west, ban the west, if you cherish your life.

Anonymous said...

China is world's top car market
More than 13.5m vehicles were sold in China in 2009, compared with 10.4m in the US

Anonymous said...

Jobs figures hit US recovery
Unexpectedly high figures cast doubt over the recovery.
Chinless wonder US managing that mythical thing: a jobless recovery.

Anonymous said...

"Greece defaults on its debt: Great problems would result for the parent European Union, sure to fracture. Germany lets it go, does not cover the Greek debt, but employs plausible deniability on minimal offered assistance. A chain reaction begins, to reach the other vulnerable nations. Portugal, Italy, and Spain teeter upon the event, soon to suffer their own defaults, none aided. Even France suffers the ignominy of default, but is aided by Germany in the end, unlike the PIGS nations. The crux of the matter is refinance rollover of debt, which fails. The non-German EuroBonds then rise in yields, enough to force a split in the Euro currency to form the Nordic Core Euro. Default nations revert to their old former currencies and suffer massive devaluations. (chances of happening: 80%)"
Above taken from a Jim Willie piece: 2010 Gathering Giant Economic and Financial Storm Clouds (9.1.10) which is not entirely devoid of interest.

Anonymous said...

Another shining example of why America is beloved around the world as the Leader of the Free World.

NOT!

One in eight youths in US prisons sexually abused
http://www.iraq-war.ru/article/214856

Torture Inc. Americas Brutal Prisons
http://www.informationclearinghouse.info/article8451.htm

Anonymous said...

US-Pakistan “diplomatic” dispute escalates (I)
By: atheo on: 09.01.2010
The neoconservative Wall Street Journal, New York Times and many other English-language media and even the Chinese news agency Xinhua just wrote in bold headlines that the US has asked Pakistan to stop “harassment” of their “diplomats”. It is quite uncommon that a country tries to escalate diplomatic differences with a friendly country over the mass media, rather than resolving it discreetly. Pakistan is an important “partner” for the United States in its struggle to dominate the Middle East, which it sells to the public as a global war on terror.
In the Wall Street Journal version and the associated Western media, the story of the diplomatic dispute is told somewhat like this: Pakistani authorities and security forces are harassing U.S. diplomats in Pakistan by temporarily arresting them, searching their cars and systematically delaying visa requests. Due to this harassment the US now has difficulty implementing its five-year program to support civilian projects in Pakistan worth 1.5 billion U.S. dollars annually. The Pakistani government demands direct payment so that it can spend the money where it is needed but the US doesn’t do this as it wants full administrative control. The Wall Street Journal suggests that the Pakistani intelligence service ISI is behind the harassment campaign and that the ISI is impeding peace and development in Pakistan. That’s what the story looks like in Rupert Murdoch’s Wall Street Journal. The New York Times adds that the US embassy in Islamabad has plans to increase its staff to implement its assistance program in Pakistan from 500 to 800 people and casually states that President Zardari has demanded a cessation of air strikes by US drones on Pakistani territory, and instead proposes that the US give Pakistan the drone technology.
In Pakistan the story appears a bit different. First of all, it is carefully noted in Pakistan that the US hires death squads from the notorious Blackwater outfit as “diplomats”. The US government officially denies that it uses Blackwater for assassinations, but since it was announced that the suicide attack on the secret drone base in Afghanistan’s Khost killed two mercenaries from Blackwater the official claims have been exposed as a blatant lie.
However the troubles of the US in Pakistan are even more serious. Zahid Malik explained on December 7th in the Pakistan Observer in detail that the head of the ISI, General Ahmed Shuja Pasha, personally confronted the CIA boss Leon Panetta with evidence that the US backs warlords and terrorist groups in Afghanistan and Pakistan for the purpose of destabilizing Pakistan. The role Stanley McCrystal’s JSOC terrorist group plays in this dirty war is also public knowledge. None of this surprises Pakistanis as everyone in Pakistan knows that the US runs a secret war against Pakistan. This is becoming disastrous for the US because in the eyes of the Pakistani population the US is widely decried as a state sponsor of terrorism and any Pakistani government making common cause with the United States is considered to be treasonous.

Anonymous said...

US-Pak Diplomatic Dispute Ecalates (II)

The most important point is that the United States under Obama is trying to deceive Pakistan. The US promised to fight alongside Pakistan but they secretly fought against Pakistan and they were caught. It couldn’t be worse for the US. In this situation even the $1.5 billion annual bribe won’t help them out. If the US does not maintain the cooperation of Pakistani security services there will be no reliable transit of supplies for the U.S. occupation forces in Afghanistan via Pakistan anymore. Pakistan can add to its demands whatever it wants whenever it wants, because the US is so dependent on the supply routes through Pakistan. Obama would like to increase US troops in Afghanistan by about 30 – 40,000 official soldiers. As for supply routes for his troops in Afghanistan he has the following possibilities: Pakistan, Russia, and Iran. As the US has no internal influence in Iran and Russia, these countries are not ideal options. The result is that if Pakistani supply routes are closed Obama’s occupation of Afghanistan will end and Pakistan wins influence. Until then Pakistan may ask what it wants of the US, and the US must pay whatever the price is. If the US is escalating its diplomatic dispute with Pakistan now in the media, that suggests that the US administration has just now realized what kind of an ugly trap they have fallen into in Afghanistan.

Was this really that hard to foresee? Honestly, who is stupid enough to choose to occupy Afghanistan? OK, the think tank IASPS proposed it, but they also called for war on Iraq for the reorganization of the Middle East in Israel’s favor. It is noteworthy that Barack Obama still follows this Zionist-designed war policy even though it brings nothing but predictable disaster for the US.

Iran’s Press TV is modest: it reported that five Americans were arrested because they used fake license plates, but that they were released later because the US embassy said that they were diplomats. Oh, but of course when US Marines raided the Algerian embassy in Baghdad it was something entirely different and in no way harassment or a violation of the Vienna Convention on Diplomatic Relations.

The author manages a German language news blog at – http://www.mein-parteibuch.com/

http://alethonews.wordpress.com/2010/01/08/us-pakistan-%E2%80%9Cdiplomatic%E2%80%9D-dispute-escalates/

Anonymous said...

Houthis retaliate: Saudi city shelled - 8.1.10
Jizan City attacked in response to continued Saudi air raid Crimes against Yemeni civilians.

While the Houthis have repeatedly confirmed that they were open for talks to stop the violence, the 6th war of agression against the Houthis continues, even after the latest announcement by the Houthis agreeing to Qattari mediation talks.

Official in the Information Office to Saada Online: "Our position is clear and the solution is in the hands of the (Yemeni) govornment if it wants peace, and we support the role of Qattar"

(summary translation) for Friday: 8/1/2010

In retaliation to continued Saudi crimes against Yemeni civilians - Friday - 17 Saudi air raids on districts in Sa'ada governorate: a Houthi artillery and missile unit fired direct hits on the reception center "guest house" of the Red Sea port city of "Jizan" (this city is 60 kms deep in Saudi territory from the Yemeni border).

The "guest house" targeted in "Jizan" port city is a strategic headquarters building of the Al-Saud family government. Fires were seen devouring the building.

On the other hand two crawls by Yemeni government forces were broken today, one approaching "Dukhan" mountain, and the other towards the area of "Al Iqab". Also, the army tried to unsuccessfully infiltrate "Mount Dhahr Al Himar" .

The Information Office released two video clips documenting Saudi counter attack forces limping away in withdrawal from Al Jabri, the Saudi military base (Houthi occupied). A third video documents the arms cache of Saada Central Security burning.

Jabri: The limping withdrawal of Saudi security forces after clashes
http://www.4shared.com/file/191439033/69bbd1f9/_.html

Jabri:
http://www.4shared.com/file/191208373/26d4540c/_.html

Ammunition cash burning:
http://www.4shared.com/file/191435020/a37f0eba/_.html

Information Office of Mr. / Abdul-Malik Badr Eddin al-Houthi

Anonymous said...

Thanks for Pak news. Most encouraging. Finally they're straightening out their act, behaving as if they were a country - and a tremendously important one at that - not simply a mouse.

Anonymous said...

Horizon Bank first U.S. bank failure of 2010
(9.1.10)
The Federal Deposit Insurance Corp said Horizon Bank had approximately $1.3 billion in total assets and $1.1 billion in total deposits as Sept. 30.
Friday's bank failure is expected to cost the FDIC's insurance fund a total of $539.1 million.

Anonymous said...

Press TV – Jan 2010 10:21:48 GMT
Iran and Turkey plan to set up a joint industrial zone on their shared border, a Turkish official has announced.
Turkish Industry and Trade Minister Nihat Ergun made the remarks after a meeting with Iran’s Industry Minister Ali Akbar Mehrabian in Ankara on Friday.

Ergun noted that the two sides have agreed to form a committee to discuss the establishment of the joint industrial area in a way to boost economic cooperation.
”A technical committee consisting of 10 persons from each side has been established. The committee will work on the establishment of an industrial zone on the joint border, ” ILNA news agency quoted Erdun as saying.
The Iranian and Turkish officials also discussed ways of increasing industrial cooperation.
Separately, Turkish State Minister Zafer Caglayan said that Turkey’s exports to Iran reached $1.7 billion in the first 11 months of 2009.
After a meeting with Mehrabian in Ankara on Thursday, Caglayan said Tehran is an important partner for Turkey and that the volume of trade between the two countries has risen to $10 billion in the past eight years.

Anonymous said...

In upcoming elections in Ukraine, both leading candidates are pro-Russia. Gives one some idea of how the ghastly Orange "Revolution" fared. Badly, in one word. Demise just round the corner and Ukraine finally standing on its own two feet.

Anonymous said...

Six Jewish Companies Own 96% of the World’s Media
http://pakalert.wordpress.com/2009/03/16/six-jewish-companies-own-96-of-the-worlds-media/
Pix
http://pakalert.files.wordpress.com/2009/03/slimel_dees.jpg?w=500&h=556
http://pakalert.files.wordpress.com/2009/03/ok_dees.jpg?w=488&h=435&h=435

The power of lies, deceptions and disinformation as Americans pay the price of collective stupidity.
“You know very well, and the stupid Americans know equally well, that we control their government, irrespective of who sits in the White House. You see, I know it and you know it that no American president can be in a position to challenge us even if we do the unthinkable. What can they (Americans) do to us? We control congress, we control the media, we control show biz, and we control everything in America. In America you can criticize God, but you can’t criticize Israel…”
Israeli spokeswoman,
Tzipora Menache

Anonymous said...

Swiss Minarets referendum continued:

Women who wear burkhas on the street in France face fines of more than £700 Ostensibly to protect women’s ‘dignity, the proposed legislation will ramp up tension between the Muslim community and French secular society – which is probably the real aim of the proposed legislation. France has clearly gone off its head. Muslim women take note. Either quit the country or avoid French streets.

Anonymous said...

Venezuela's Chavez Aims To Fight Currency Black Market - JANUARY 9, 2010
CARACAS - Venezuela plans to battle the country's currency black market with "heavy intervention," President Hugo Chavez said Saturday, one day after announcing a devaluation of the bolivar.
"We're going to attack the parallel market with heavy intervention," Chavez said during a televised address.
In announcing the devaluation Friday, Chavez indicated the government would intervene in the thriving and legally murky black market, but provided few details.
The black market rate currently stands at about VEF6.25 for $1.
Government intervention could entail flooding the market with dollars to weaken the greenback and bring down the rate, perhaps until it reaches the official VEF4.3 rate. That could lessen the black market's relevance.
The president of this oil-rich nation also on Saturday cited a "weak" U.S. dollar against international currency as one of the reasons for his decision, announced Friday night, to cut in half the official value of Venezuela's bolivar against the greenback, to 4.3 bolivars per dollar.
"Every day our barrel of oil is worth less because of the weak dollar, because oil is priced in dollars," Chavez said.
The devaluation will help offset this, Chavez said, because now every time state oil company Petroleos de Venezuela, or PdVSA, goes to the Central Bank to change its dollars for bolivars, it will get VEF4.3 per dollar rather than VEF2.15.
"This will have a huge impact on the national fiscal situation, and will strengthen our oil industry," Chavez said.

poiuytr in your beauty sleep, can you come out of seclusion and tell us whether this is a good move or a sign of weakness?

Anonymous said...

"poiuytr in your beauty sleep, can you come out of seclusion and tell us whether this is a good move or a sign of weakness?"

I wonder what Poiuytr does in his spare time?

Besides researching and documenting all the sundry crimes against humanity the USA and West are guilty of.

Gardening perhaps? LOL.

Anonymous said...

Gardening sure takes up a lot of time. Reminds me of Nero fiddling while Rome burned.

Anonymous said...

Stamp or butterfly collecting then for Poiuytr then?

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