Occupy War Street
Occupy Chicago
Occupy San Francisco
And here the point of this post. While the discontent infects even the mentally slowest nation, their mainscream news whores are reporting this: (not a joke!)
CNN front page boasts: "Knox Says I Did Not Kill", "Greece Budget Misses Targets", "Cheney: Obama Owes Bush Apology", and the ultimate in this baboon farce: "Kiss' Gene Simmons Weds".
MSNBC breaking & top news boast: "Syrian Opposition Pleads For Help", "Arctic Ozone Hole Detected", "Stocks Tank As Greece Misses Targets", "If Intelligent Aliens Exist, What About God?"
Now imagine the kind of cesspit with 100M-150M who are still helplessly glued to their TV tubes grazing on the "top story" truth brought to them by the BBCNN pack of whores.
Of course, not everyone's silent about the unraveling of the very centre of the child-murdering beast. China rebukes the baboon for the black out: US media blackout of protest is shameful and RussiaToday seems to be having a field day with it.
85 comments:
test 2
poiuytr here... can someone post just gibberish under the last article (and here too, why not?) "Debtocracy" to see if at least that comment section works???
Maybe it's something to do with these youtube vids that disabled the comments above.
BTW, I've touched nothing in the settings to disable comments and have no clue why they don't work.
Let's try posting to nationbynation.blogspot.com
that should work.
Still only 3 comments? Has nothing been mended so far? Hallelujah! It has? Bravo, bravo!
Defaults, Bankruptcies and a Run On the Banks
Seven Advance Warnings:
1. Greece will default very soon.
2. The contagion of fear will spread.
3. European megabanks will collapse
4. European governments will suffer a cascade of new credit rating donwgrades.
5. Spain and Italy will be next to face default on their massive debts.
6. Global debt markets will suffer a critical meltdown.
7. The vicious cycle of sovereign debt defaults and bank failures will lead to a global depression.
And US mobsters will be patting themselves on the back that they have won the currency war just as they have won in Iraq, Afghanistan and now Libya.
Up to us now to know what to do with any money we might have had the misfortune to place in a bank account.
Yup, the Yanks are joining in at long last in their own baboonish fashion. Take a look at this:
Occupy Wall Street... mansions
The “Millionaire’s March” begins tomorrow at 12:30 PM on the corner of 59th Street and Fifth Avenue.
Organizers are planning a march on Tuesday that will visit the homes of JP Morgan Chase CEO Jamie Dimon, billionaire David Koch, hedge fund honcho John Paulson, Howard Milstein, and News Corp CEO Rupert Murdoch.
COINTELPRO was the FBI acronym for 'Counter Intelligence Program'. COINTELPRO not only infiltrated domestic antiwar and civil rights protest groups, it also created them. By 1968, the largest leading 'counterculture' groups were entirely FBI/CIA controlled.
In fact the leading 'Anti-Establishment' figures of the late 60's early 70's were outed years later as having been double agents for the CIA.
LSD promoter Harvard Dr. Timothy Leary; feminist icon and co-founder editor of MS Magazine, Gloria Steinem — who persists today as an icon of feminism.
COINTELPRO never went away, it got privatized.
ORGANIZED BY A SERBIAN OUTFIT
OCCUPY WALL STREET and the OCCUPY TOGETHER MOVEMENT is the work of SERBIAN contract revolution organizers the CENTER FOR APPLIED NONVIOLENT ACTION AND STRATEGIES C.A.N.V.A.S in Belgrade and it's field operative organizer company, "OPTOR!"
So don't you believe it when ABC says "Everybody and nobody are in charge...." or the Guardian hints, "rumors persist the group "Anonymous" is behind the Occupy Together Movement".
The cover story is that back in 1998 some college students at the University of Belgrade that were unhappy with totalitarian regime of Slobodan Milošević decided it would be fun to topple the Serbian government. The smartest guy in the room, Ivan Marovic, allegedly dreamed up a grass roots strategy and they went to work organizing protests as OTPOR! which means RESISTANCE! in English.
The Egyptian Revolution turning slowly but surely nasty
26 Killed In Deadly Cairo Violence : "There were people on the streets from all different sectors of society." - "What united them was not anything to do with sectarian issues or demands but actually a frustration directed at the army for what they feel is the army's betrayel of the revolution.
More clashes erupt in Egypt, 1 day after 24 killed in riots: The latest clashes Monday broke out outside the Coptic hospital where many of the Christian victims were taken the night before. The screams of grieving women rang out from inside the hospital and some of the hundreds of men gathered outside held wooden crosses. Empty coffins were lined up outside the hospital.
Taming the Arab Spring: What is the strategy? Simple: Postpone everything for as long as you can. Postpone elections; postpone the drafting of the new constitution. … Meanwhile, make sure that the US and other Western states remain of the traditional opinion that the army, not the people, is vital to their interests.
LOL – This Stock Market Rally Is For Suckers
The Economic Collapse (1)
Tuesday, October 11, 2011
Hey, have you heard? The stock market is absolutely soaring right now. The Dow was up 330 points on Monday, and overall the Dow has risen by more than 10 percent since October 3rd. So should we all be throwing our money into the stock market in order to take advantage of this tremendous rally?
Well, if you actually believe that the sovereign debt crisis has passed and that we are no longer on the verge of a massive worldwide financial crisis then I have a bridge that I would like to sell you. The stock market may be soaring, but absolutely nothing has been solved. The truth is that this stock market rally is for suckers. The primary reason why stocks rose today was because German Chancellor Angela Merkel and French President Nicolas Sarkozy promised that they would reveal a “comprehensive response” to the European debt crisis by the end of this month. When pressed for specifics, Sarkozy stated that “now is not the moment to go into the details.“ So do global financial markets really have a legitimate reason to be giddy about the super secret plan cooked up by Angela Merkel and Nicolas Sarkozy, or are Merkel and Sarkozy just blowing a bunch of smoke? Merkel and Sarkozy have made bold promises in the past, but nothing ever got fixed. So why should we believe them this time?
Merkel has already gotten all of the bailout money that she is going to get out of the Germans. The political will for more bailouts is totally gone in Germany, and many of Germany’s top leaders have expressed this in no uncertain terms.
For example, German Finance Minister Wolfgang Schaeuble is publicly admitting that Germany will not be able to contribute any more money to the European bailout fund. Also, the leader of Bavaria’s Social Christians, Horst Seehofer, said after the recent vote on the Greek bailout package that his party would go “this far, and no further“. Recent opinion polls in Germany make it abundantly clear that the German people are overwhelmingly opposed to more bailouts. Squeezing more money out of Germany simply is not going to happen, and that means that squeezing more money out of the rest of Europe is simply not going to happen.
The Economic Collapse (2)
In a recent editorial, Ambrose Evans-Pritchard, idiot though he is much of the time, but perhaps worth listening to this time round, described the current political situation in Europe in this manner….
Repeat after me:
THERE WILL BE NO FISCAL UNION.
THERE WILL BE NO EUROBONDS.
THERE WILL BE NO DEBT POOL.
THERE WILL BE NO EU TREASURY.
THERE WILL BE NO FISCAL TRANSFERS IN PERPETUITY.
THERE WILL BE A STABILITY UNION – OR NO MONETARY UNION.
Get used to it. This is the political reality of Europe, since nothing of importance can be done without Germany. All else is wishful thinking, clutching at straws, and evasion. If this means the euro will shed some members or blow apart – as it almost certainly does – then the rest of the world must prepare for the day.
Perhaps global financial markets should be focusing on what we can see rather than on what we cannot see.
For example, the first major bank bailout in Europe has now happened. Dexia is being bailed out, and it is going to cost more than 100 billion dollars.
Lately, we have seen a cascade of credit rating downgrades. For example, Moody’s slashed Italy’s credit rating by three levels last Tuesday, and the other day S&P slashed the credit ratings of seven different major Italian banks.
The problems in Europe continue to grow worse, and yet the stock market is soaring. If Greece defaults, it is going to be a major disaster.
If Italy or Spain defaults, it is going to be financial armageddon.
Merkel and Sarkozy are holding really weak cards but they have chosen to raise the stakes anyway.
Their bluff may calm financial markets for a month or two, but in the end they will not be able to stop what is coming. A great financial collapse is coming to Europe.
@18:44 - An IMF takeover might also be in the air.
Tuesday, 11 October 2011
"Welcome to the future of the entire world"
What is emerging in Spain is a familiar pattern: elections in November, the socialist party to be blamed for all of Spain's economic woes, the media helping to elect the conservative People's Party (PP) and in the first months of the new government the president will say that the socialists left the Spanish books in ruin and there is no other option but to borrow from the IMF.
Predictive Programming?
Actually, since Germany and France have agreed on creating some kind of European bail-out fund (did they borrow from the IMF I wonder), Spain will likely be bailed out by that, maybe to make it look like the IMF was not involved.
I feel expecially strongly about this because Aznar (ex PP president), after being virtually absent from Spain since his presidency, is suddenly back supporting Mariano Rajoy, the PP candidate.
Aznar is in the club and will do his part; he is on the board of directors of News Corporation, the global media conglomerate founded by none other than Rupert Murdoch - who, according to this profile: is a far-right partisan who has used his empire explicitly to pull American political debate to the right. He is also an enabler of the oppressive tactics employed by dictatorial regimes, and a man who admits to having hidden money in tax havens.
Good grief, they're even fear mongering about a market collapse in 2 to 3 weeks. The UK and US claim that the European banks and markets will crumble because of a Greek default that will create some kind of domino effect on the major banks and lead to (scary music please...) GLOBAL ECONOMIC MELTDOWN!!!!
Now the UK and US are always fear-mongering about the EU because it's a way to drive down the Euro and inflate the US dollar. So, again, who knows? There is a lot of currency "warfare" going on.
BTW: Greece has pretty much slid back to the middle ages - people are bartering for goods in open-air markets. While this seems empowering I think it's a really bad move for the public to divorce itself completely from the money system. This only encourages the authorities to convince the public that a cashless society is better for everyone, when in truth, it is simply an effective way to ensure the public cannot gain private wealth and so are no better than serfs.
Interesting, interesting, interesting!
Swiss protestors to hold anti-Wall Street demo
Demonstrators are expected to gather on Saturday in the Swiss cities of Zurich, Geneva and Basel for protests modelled after the anti-Wall Street marches against US authorities and the banking industry.
When the Swiss protest banking, you know the system is screwed up! (WRH)
Over 200 strikes to hit transport and schools
11.10.11
Commuters, train passengers and school pupils can expect problems on Tuesday as five unions call strikes across the country to protest against government cuts.
School pupils have also promised to join the action with demonstrations outside schools in Paris and some other cities.
Metro and fast RER trains in the capital will suffer some delays, particularly on metro lines 5, 7, 9 and on the busy lines A and B of the RER.
Line A hopes to have three trains in four running while line B will have its service cut in half during morning and evening rush hour.
High-speed TGV trains will be disrupted with three out of four trains running on average across the network.
Main points of interest in this morning's news - 12.10.11
- Putin in China with a strong trade delegation. Relations between the two countries now openly brought to the forefront.
- The town of Sirte in Libya, very badly affected by siege and daily NATO bombing still holding out for the moment.
- UK jobless total highest in 17 years
2.57 million people were out of work over the June to August period, the highest since the autumn of 1994.
- Slovakia rejects Euro bailout plan
Measure calling on Slovakia to support revamp of fund fails to pass by 21 votes after eight hours of testy debate. This was said to be the decisive vote allowing the bailout to go through or not.
Latest False Flag Launched
Iran was apparently trying to get the Saudi Arabian Ambassador to the US assassinated in Washington DC. Now I ask you. Wouldn't it have been easier to assassinate a KSA envoy closer to to home?
Statement From Organizers Of Occupy Wall Street
12.10.11
We are a decentralized non-violent resistance movement, which seeks to restore the rule of law and fight back against the organized criminal class.
One-tenth of one percent of the population has consolidated wealth in unprecedented fashion and launched an all-out economic war against 99.9% of the population.
We are not affiliated with either wing of the two-party oligarchy. We seek an end to the corrupted two-party system by ending the campaign finance and lobbying racket.
Above all, we aim to break up the global banking cartel centered at the Federal Reserve, International Monetary Fund, Bank of International Settlement and World Bank
Fulford gone? A pity. Ours not to question why, ours but to do and die. But that's by the way.
The lines below were taken from this morning's Telegraph: "Legal & General Investment Management said "the UK's credit rating is likely to be reviewed in the coming years" as it becomes clear that the Government will miss its growth forecasts and fall back into recession.
The warning will come as a blow to George Osborne, who has staked his reputation on the UK retaining its AAA rating despite emerging from the recession with the biggest budget deficit in the G20."
What's interesting is the hither and thither and the time factor. We're falling into recession, we're emerging from recession, whereas all along it's been one static situation with no changes of any kind, unless it be for the worse. And the time element: downgrade "in coming years"? At the speed at which we are going, why not tomorrow, next week or in a month's time? Economic sci fi is what is seems to be.
False Flag Iran:
http://ipsnews.net/news.asp?idnews=105442
Alleged Iranian Assassination Plot Suspicious, Experts Say
Furthermore, Spiegel.de, Germany's ultra chic weekly, is already desperately seeking to distance itself from this story. Who was it promoting it fully only yesterday? Why, our Spiegel.de, of yourse.
Everyone Missed It, But China Has ALREADY Retaliated For Last Night's Big Currency Vote In The Senate - 12.10.11
Last night, the Senate passed a bill that would impose tariffs on currency manipulators like China.
It's not expected to pass the House or get signed by The President, but China has already responded to the provocation. It fixed the yuan shockingly low against the dollar last night, moving it in the exact opposite direction the U.S. wants:
It's happening again. We can't post. Please to help.
Sorry, sorry. My mistake. It's OK now.
Protests held across France in opposition to government €11bn austerity plans
12.10.11
TENS OF thousands joined protest marches across France yesterday to denounce government austerity plans.
In the first wave of public demonstrations since a controversial pension reform was enacted last year, trade unions organised about 200 events yesterday, though turnout was much lower than last year. Some 25,000 people marched in Paris, the unions said, though police put the figure at 16,000.
Unions have criticised the decision by President Nicolas Sarkozy’s government to make €11 billion in savings next year, saying the steps this requires are “unfair and inequitable” and will jeopardise jobs.
On the march to Place de la Bastille in Paris, Francis Magnon, a postal worker, said there was a need to stress alternatives to the austerity measures being pursued across Europe.
So the farce goes on. After the French and Italian banks, after Dexia, we now have the rating agencies Fitch and S&P downgrading some twelve Spanish banks, among them Santender which loses its AA and must be content with AA- status. Are these the currency wars or aren't they? With the victims still believing their enemy is their friend and ally.
Now the protest spreads across the Atlantic: Thousands plan camp in London's financial centre inspired by 'Occupy Wall Street' campaign
13th October, 2011
Hundreds of anti-Wall Street protesters marched on the Chase Bank headquarters in New York yesterday waving placards and chanting slogans attacking corporate greed and social inequality.
The march came a day after members of the Occupy Wall Street Movement, which has been camping in a square in Manhattan’s financial district for more than three weeks, protested outside the homes of billionaires including Rupert Murdoch and banker Jamie Dimon.
There have been more than 1000 spin-off protests in U.S. cities including Chicago, Los Angeles and Seattle, and UK supporters plan a similar march near the London Stock Exchange on Saturday.
Mass protest: Occupy Wall Street members again campaign in New York's financial district, scenes that could soon happen in London
UK protesters have been inspired by the growing 'Occupy Wall Street' movement in the U.S and are planning to establish a tent city in London's financial district this weekend
A Facebook page titled 'Occupy London's Stock Exchange' has already amassed more than 3,000 members who have agreed to attend the event on October 15 while 'Occupy London' on Twitter has in excess of 1,000 followers.
The group, who were behind a protest that saw Westminster Bridge closed on Monday posted on the social networking site that they are 'part of a global popular movement'.
One post under the name 'Occupy The London Stock Exchange' said: 'Hundreds attended the General Assembly and we are growing stronger every day!
'We remained unified and respected each others opinions. We are part of a global popular movement and not supportive to one ideology or faction, we are the 99%.
'Only the General assemblies and occupations themselves truly speak for the movement.'
In any case, the protest movement begun in Greece some two years ago, has now begun to take on global importance.
There we go again. Fitch's has started on the Swiss banks now. UBS has descended from AA+ to AA and Credit suisse has been put on negative watch. Bad move on their part maybe. But time will tell.
Nobel Peace Prize-President quietly opens 8th US battlefront, Uganda - 14.10.11
While America occupies Iraq and Afghanistan, wages covert war on Pakistan, conducts drone attacks on Yemen and Somalia, bombards Libya, and positions for a wider confrontation with Iran and Syria, Nobel Peace Prize Laurette President Obama has now quietly, without much fanfare, sent 100 US troops to help Ugandan President Yoweri Museveni crush rebels threatening his 25-year dictatorship...
Wall Street Occupation Goes Global Saturday
Only time will tell what a growing global social movement can muster, but the energy is discernible and the momentum remains in favor of a new kind of change. That's the word going out - politely - on the Web to rally street protests on Saturday around the globe from New Zealand to Alaska and Taipei via London, Frankfurt, Washington and, of course, New York, where the past month's Occupy Wall Street movement has inspired a worldwide yell of anger at banks and financiers.
14.10.11
About Uganda, 06:59, oil has been discovered there. No wonder the USans have placed boots on the ground there so no one can snatch it away from them. Incredible how they feel everything to be found in the earth of this planet is by rights theirs.
Up Occupy! Get rid of the thieving beggars.
testing, just testing this comment rubbish, yes, it's poiuytr here...
i would do NBN but it's too fast, the unraveling of all things west is so fast now that NBN can no longer catch it in a snapshot. the whole of the west paradise built on the murder of the planet is on fire today, from the Rome, to Loondon, it's all mayhem on the streets, in the baboon's brains, and in the policies of the child-murdering NWO juntas. Even west media whores are flummoxed and unclear what to lie about. It even seems that Murdoch's lie machine has been perplexed as to the latest top story. Anyway, much flux across west as it's counting its last days in weeks now.
Let's hope the Freeworld will manage to continue steering clear of WWIII, the last wetdream of this psychopathic child-eating saxonic vermin.
But NBN just cannot encapture the madness that now defines the west idyl from the streets all the way to the Ovary offices of Warshington.
testing, just testing this comment rubbish, yes, it's poiuytr here...
i would do NBN but it's too fast, the unraveling of all things west is so fast now that NBN can no longer catch it in a snapshot. the whole of the west paradise built on the murder of the planet is on fire today, from the Rome burning trashcans, to Loondon, it's all mayhem on the streets, in the baboon's brains, and in the policies of the child-murdering NWO juntas.
Even west media whores are flummoxed and unclear as what to lie about. They're no exchanging daft looks. It even seems that Murdoch's lie machine has been perplexed as to the latest top story. Anyway, much flux across west as it's counting its last days in weeks now.
Let's hope the Freeworld will manage to continue steering clear of WWIII, the last wetdream of this psychopathic child-eating saxonic vermin.
But NBN just cannot encapture the madness that now defines the west idyl from the streets all the way to the Ovary offices of Warshington.
Someone wanna help the anti-beast revolt? I got this idea but can't do it alone.
sorry for doublepost
poiuytr, splendid to hear your unmistable voice again. It's as you say: the end is nigh. And your fabulous "Ovary" offices are unable to cope. I think that's probably the secret: west is adrift and directionless. Give us an inkling on how you plan to get the anti-beast going against its own masters. Some of us might be able to join in. Glad you finally made it to the endgame.
Please to note that things are hotting up in Iraq, Afghanistan and Libya. Their 100 or 1000 or 100,000 boots on the ground in Uganda will make no difference at all. Parallel to this the 99% movement to Occupy the World is now going to become a part of our daily lives as well. 2012 will not become a replica of 2011.
Make that the "Offal office" and we have a scientifically accurate definition of the bloody site. Too bad it came out unscathed in 9-11.
Nussiminen well put. "Offal Office" is pure genius. I'll never be able to think of that Office dripping with blood in any other way from now on. Obomber in the Black House in his Offal Office deciding who's to die next, that about sums up US foreign policy for the moment. Add which bank is to be bailed out next and we have there the whole of US politics in a nutshell.
What place on Earth could possibly be more appropriate for a rendez-vous between Yankistan's Blockhead of State and some beloved Chief Execrable Offal from Big Business?
We are all so excited over the Occupy Movement. Well, here's how and where the whole protest action started and is still carrying on:
Schedule Of Greek Strikes For The Upcoming Week
17.10.11
The US and the rest of the developed world have a schedule of occupied venues for the next several days, false European headlines, and the occasional economic event.... Greece has a schedule of strikes. For those wondering what the oppotunity cost of Greek GDP and surplus is, here you go.
MONDAY
State media are to continue strike action until Thursday. The Panhellenic Seafarers Association’s strike until Tuesday will affect all ferry services. Lawyers are continuing to strike until Wednesday. Customs employees walk off the job for 24 hours. Tax office, Social Security Foundation (IKA) and local authority employees continue rolling 48-hour strikes.
TUESDAY
Railway workers start a three-day strike, until Thursday, affecting the Proastiakos suburban rail and the metro service to Athens Airport. Journalists hold a 24-hour strike. Port workers start a 48-hour strike.
WEDNESDAY
The country’s main labor unions, GSEE and ADEDY, begin a 48-hour strike. There will be no flights or taxis. Retail stores and banks will remain closed too.
THURSDAY
No flights or taxis, with public transport also likely to be disrupted as industrial action by GSEE and ADEDY continues.
Source: Ekathimerini
Four US banks hold a staggering 95.9% of U.S. derivatives: The $600 Trillion Time Bomb That's Set to Explode - 16.10.11
Do you want to know the real reason banks aren't lending and the PIIGS have control of the barnyard in Europe?
It's because risk in the $600 trillion derivatives market isn't evening out. To the contrary, it's growing increasingly concentrated among a select few banks, especially in the United States.
In 2009, five banks held 80% of derivatives in America. Now, just four banks hold a staggering 95.9% of U.S. derivatives, according to a recent report from the Office of the Currency Comptroller.
The four banks in question: JPMorgan Chase & Co, Citigroup Inc, Bank of America Corp and Goldman Sachs Group Inc.
Derivatives played a crucial role in bringing down the global economy, so you would think that the world's top policymakers would have reined these things in by now - but they haven't.
Instead of attacking the problem, regulators have let it spiral out of control, and the result is a $600 trillion time bomb called the derivatives market.
Think I'm exaggerating?
The notional value of the world's derivatives actually is estimated at more than $600 trillion. Notional value, of course, is the total value of a leveraged position's assets. This distinction is necessary because when you're talking about leveraged assets like options and derivatives, a little bit of money can control a disproportionately large position that may be as much as 5, 10, 30, or, in extreme cases, 100 times greater than investments that could be funded only in cash instruments.
The world's gross domestic product (GDP) is only about $65 trillion, or roughly 10.83% of the worldwide value of the global derivatives market, according to The Economist. So there is literally not enough money on the planet to backstop the banks trading these things if they run into trouble. Which they are bound to do.
US Treasuries Sell Off - 17.10.11
Treasuries fell, with 10- and 30- year securities in their longest weekly losing streaks in more than six months, as European leaders’ efforts to resolve the sovereign-debt crisis damped refuge demand.
(The US is a refuge only because the US Government promises to make the US taxpayer cover all losses. But OccupyAMERICA is sending a clear message that We The People will not sacrifice our own lives to repay bad business investments. That message is being heard because foreign institutions are DUMPING TREASURIES, and this is what is driving treasuries down.)
WRH
Mixed News from the Wars:
On the one hand we hear that Italy and US are discussing the possibility of ending NATO bombing in Libya, on the other we are told NATO will bomb till kingdom come to ensure no "civilian lives are in danger". Bani Walid and Sirte are again free of the rebels so that NATO can bomb them for the umpteenth time without hindrance. Much talk of NATO boots on the ground, declaration of victory for the rebels and a visit by Hillary Clinton.
About Syria, the usual repetition of deaths no one believes in except the sheeple. As for Iran, now even Pakistani intelligence has denounced the plot against that country. But US political rhetoric has not changed for all that.
Conclusion: the wars will go on and on and on. And the west banks will continue to flounder in disaster territory.
Addition to above, 05:48:
Uploaded by 108morris108 on Oct 17, 2011
News from Libya
A Skype chat I had with an insider:
I don't know how long the charade can go on for
in any case, I expect the rebels to declare victory soon
and what NATO/EU has is Vietnam 2
They will say they have "freed Libya"
and control all the towns
then they will immediately ask NATO to put soldiers on the ground
(who are already there ~8000 admitted)
because if they don't, the rebels are toast
I ask: Well there must be a million more mercs available from the rest of the magreb
they're too disorganised
you need a standing army to occupy a country
rebels continuously fall for traps
they just wait outside for nato to bomb
whenever they try tactics, they end up shooting each other
Europe's lost decade as $7 trillion loan crunch looms - 17.10.11
Europe’s banks face a $7 trillion lending contraction to bring their balance sheets in line with the US and Japan, threatening to trap the region in a credit crunch and chronic depression for a decade.
UK Inflation hits three-year high of 5.2%
Squeeze on households tightens after sharp rise in energy bills, trumping economists' forecasts of 4.9%.
(Multiply a bit and you might get the right figure for this.)
US Banks and their shenanigans:
Shock Goldman loss as payout pool hits $10bn
The bank reported a $393m (£250m) loss, hit by volatile markets.
Right, and rival Bank of America which was supposed to be on the verge of insolvency has pasted tremendous profits for the year.
If one believes either the one or the other, one must be feeling unwell.
The United States will this week commence huge military maneuvers aimed at Iran, with a massive air fleet patrolling middle eastern skies ready to land at any time, in response to Iran's involvement in an alleged assassination plot that experts have labeled dubious, amidst fears that US and Israeli targets could be hit by attacks.
18.10.11
Sorry @18.53. The profits were for the Third quarter and not the whole year.
Behind Europe’s Debt Crisis Lurks Another Giant Bailout Of Wall Street Banks - 18.10.11
The fact no one seems to know Morgan Stanley's exposure to European banks or derivatives – or that of most other giant Wall Street banks – shows Dodd-Frank didn’t go nearly far enough. Regulators still don’t know what’s happening on the Street. They have no clear picture of the derivatives exposure of giant U.S. financial institutions.
Which is why Washington officials are terrified –and why Treasury Secretary Tim Geithner keeps begging European officials to bail out Greece and the other deeply-indebted European nations.
It's isn't that the regulators don't know what's at stake. It's the general public which is kept in the dark much of the time. Until they too grasp the inside info thanks to alternative media. All west govt instances are in it together.
American War Games directed against China: U.S. and Philippines Test China's Military Nerves
19.10.11
"The U.S is rapidly losing its influence in South East Asia, and is trying to keep the status quo not through diplomacy, but with the flexing of military muscle. The exercises are designed to prevent a likely Chinese invasion of the disputed territory. Of course, Beijing has no such intentions, but it is important for America to show that it still has allies in the area. China’s reaction will be extremely negative. Beijing usually defends its territories very robustly, and will do the same over the disputed Spratly archipelago."
Glasgow protest in solidarity with the people of Sirte
19th October, 2011
I can’t find much on Libya in the mainstream media today. They seem to have gone quiet of late after trumpeting the great NATO “victory” in Sirte last week. Perhaps they’re resting on their laurels this week after the destruction of that city of about 100,000 people. The media seem to enjoy boasting about this. They also keep telling us that the civilians have all gone, a strange boast that is also completely false but which enables them to triumphantly show the TNC bombardment of the town from distance as not a war crime since, they give us to understand, only “Gaddafi’s diehard supporters” are there. But it is true that there is nothing left of Sirte except an indomitable spirit of resistance that NATO is completely unable to overcome. So much so that the NATO forces seem to have given up there for the meantime except for the daily routine of random bombing and have moved onto another “last holdout” of the Jamahiriya, Beni Walid. How many last holdouts are there and can NATO take any of them?
The utter incoherence of the media narrative on Libya, the evident criminality of it all and the bottomless pit of suffering which it is bringing to the people of Libya who we claim, laughably, to be protecting should be familiar to us all now after ten years of the same in Afghanistan and Iraq. What does it take to move the conscience of the West? Will the movement that is taking hold of the USA and seems destined to do the same here, become that conscience? Let’s hope that it does. Let’s work to make sure that it does. Join our protest tomorrow in solidarity with the city of Sirte and afterwards on to occupied George Square hopefully with half of Buchanan Street in our trail.
AND NOW THIS: Moody's Downgrades Spain By Two Notches
Oct. 18, 2011
Moody's Investors Service just cut Spain's government bond ratings by two levels to A1, with a negative outlook.
This follows Moody's decision to downgrade Italy and put Belgium on review, actions it attributes to much the same reasoning.
- No credible solution to the eurozone crisis has been found, and nothing has changed since Spain was put on review in July.
- So growth is going to be even harder now.
- Which means meeting fiscal targets is going to be more difficult for the government.
And a day later, 19.10.11, Moody's downgraded nine Spanish regions, two Basque provinces and five government-related entities.
The Currency Wars seem to have entered a decisive phase. Who'll come out the "winners", who the "losers"?
Citizens Swarm the Streets of Greece In a Whirl of Violence
19.10.11
A parliamentary vote to deepen the spending cuts by the Greek government is pushing people by the hundreds of thousands to act now and swarm the streets erupting them into a whirl of violence.
The protest was formed for the first day of a huge 2-day strike by private sector and civil servant workers.
One local described it in the following terms:
“We have reached the limits of our endurance and, what is worse is that there is no ray of hope,” said Stathis Anestis, spokesman for the big GSEE private-sector union. “We want to send a message that these austerity policies have been a catastrophe for Greece.”
(Greece is a goner. The rest of the Eurozone will follow suit. The euro seems doomed. NWO anyone?)
News of Gadhafi's Death - 20.10.11
A day or two ago it was Khamis they had killed.
It didn't look like Gadhafi to me. Now two more points. Apparently the Rats complained to Clinton H. that the Tuaregs were protecting Gadhafi in their desert areas so how come he turned up in Sirte? Also, a few days ago it was Khamis. OK. Bloggers the world over pointed out that had it been him, MSM would have had a field day gloating and showing pictures of his dead body. Right, so they got the message and produced this particular farce. That's where I stand at the moment. In full denial of the "facts" we are being asked to swallow.
Press TV reported it. First Al-Jazeera and now this one. Trust them not. They are not for us.
The jury is definitely out on this one, 17:20. A psyops aimed at the Libyan people or the truth for the very first time? We tend to be believe it's the former rather than the latter. The NATO Rats have never uttered the truth sofar. Why, overnight, should they suddenly have begun to change their ways? A staged event, then, seems to be the most likely explanation.
Chaos in Euroland (MSM text)- 21.10.11
Europe was thrown into fresh chaos on Thursday after a failure to resolve deep differences between France and Germany forced the postponement of a new plan to save the single currency.
A joint statement from the French president, Nicolas Sarkozy, and the German chancellor, Angela Merkel, admitted that a deal at the weekend was now unachievable and that talks in Brussels on Sunday would be followed by a second summit next Wednesday.
Financial markets have rallied strongly in recent weeks amid hopes of a breakthrough agreement this weekend that would recapitalise Europe's weak banks, write off part of Greece's debts and – crucially – increase the firepower of the eurozone's bailout fund to protect Italy and Spain from speculative attack.
It emerged , however, that Berlin and Paris still differ over the size of the European financial stability facility (EFSF) with Germany resisting French calls for it to resemble a bank capable of issuing €2tn (£1.75tn) of loans. Merkel is also opposed to Sarkozy's plan to put the European Central Bank (ECB) at the heart of the plan.
"The president and the chancellor will meet Saturday night in Brussels ahead of the European council summit in the euro area on Sunday," the statement said.
"France and Germany have agreed that all elements of this ambitious and comprehensive response will be discussed in depth at the summit on Sunday in order to be finally adopted by the heads of state and government at a second meeting no later than Wednesday."
One of the sticking points holding up a deal is that Merkel needs the backing of German MPs before agreeing to an enhanced bailout fund. Officials said delays in the talks prevented the chancellor from achieving it before the weekend, but at Sarkozy's insistence Sunday's summit would go ahead as planned.
Bond markets were the first to react to fears that a deal would fail to materialise, sending the interest rate on Italian debt back above 6%. Spanish yields rose above 5.5%. Both countries already depend on the ECB for short-term money, though both held successful bond auctions in the morning, before news of the delay.
Libya: Confirmation Could Take Days
US & Gullible Americans Celebrate Apparent Fortunes of Al Qaeda in Libya - 21.10.11
At face value, the tenuous narrative of a struggling, desperate NATO confounded by months of fierce resistance on all fronts and an increasingly brutal and transparently atrocious proxy army on the ground in Libya, suddenly wringing victory from what was essentially a catastrophic failure, is difficult to believe. This, especially as NATO desperately needs to turn its full attention toward Syria as the window of its imperial ambitions quickly closes forever. Already, claims that Muammar Qaddafi's son Saif al-Islam had been captured have turned out to be admittedly false, Reuters finally admits, even after an elaborate tale had already begun spreading through the biased, irresponsible corporate-driven Western media.
It must also be kept in mind that bold lies have punctuated NATO's impotent attempts at sweeping their proxies into power, including perhaps the most brazen war propaganda in modern history, the NATO bombardment of Tripoli. Similarly, Qaddafi's entire command structure was reported either dead or captured. Most notably was the "confirmation" of Saif al-Islam Qaddafi's capture by the International Criminal Court, who claimed not only was his capture confirmed, but that the ICC was already in the process of preparing his transfer to the Hague. The propaganda operation succeeded to a limited extent, allowing otherwise incapable rebel forces to sweep into the capital and gain permanent holdings there. However Saif al-Islam would turn up very much free, and still leading efforts to defend his nation from NATO aggression in the heart of Tripoli.
To add insult to injury, the duplicitous criminals populating the ICC would later claim they never "confirmed" Saif al-Islam's capture, a blatant lie that will forever forfeit the already corporate-contrived "international institution's" legitimacy. Given such circumstances, one would be wise to reserve judgement on events unfolding in Libya until Qaddafi's own people confirm or deny the reports. Nothing can be put past NATO and their proxies who have exhibited for over half a year barbarism and duplicity on an unprecedented scale.
What is confirmed, is the jubilation coming from the West's leadership and their ghoulish propagandists throughout the corporate-media, celebrating the apparent death of Qaddafi, and the apparent fortunes of NATO's proxy rebel forces. As reported earlier, NATO's proxies, the "National Transitional Council" is led by the Libyan Islamic Fighting Group (LIFG) an Al Qaeda affiliate and listed by both the US State Department and the UK Home Office as a "foreign terrorist organization," and a "proscribed terrorist group" respectively. LIFG fighters, led by Abdul Belhaj, now the NTC military commander, had fought and killed US and British troops in Afghanistan, while other LIFG fighters waged war against the West in Iraq. Supporting listed terrorist organizations with US and British blood on their hands may seem bad enough, but LIFG's conduct since February 17, 2011 when they began their foreign-sponsored bid to seize power in Libya, has been marked by verified atrocities beside which Qaddafi's alleged crimes pale in comparison.
The entire city of Tawarga, Libya, with a population of 10,000 has verifiably been exiled or exterminated by NATO-backed rebel fighters, and various refugee camps set up by its fleeing residents attacked and scattered. The cities of Sirte and Bani Walid, likewise have been surrounded, cut-off with the declared intention of starving its civilian population into submission, and systematically destroyed by both rebels and NATO through indiscriminate use of heavy weapons and airstrikes.
Libya Confirmation - Part Two
It is also now revealed, the tenuous, duplicitous nature of the very claims used by NATO to justify its intervention in Libya in the first place. Human-rights imposter, Sliman Bouchuiguir flagrantly admitted to journalists that the accusations made against Qaddafi in the lead up to NATO operations were fabricated, unverified, "estimations" that came directly from leading members of the NTC itself. Hardly objective, and clearly agenda driven, Bouchuiguir and his "human rights" organization would also be revealed as having ties to both the NTC and US-funded organizations including the International Federation for Human Rights (FIDH). His shameless explanations can be seen in in the documentary, "Lies Behind the "Humanitarian War" in Libya: There is No Evidence!".
In essence, NATO invaded and destroyed a nation, through the use of proxies listed as terrorists and who verifiably have US and British blood on their hands. It is also now clear that the pretext used to invade Libya was entirely contrived. When Obama ironically claimed "the rule of an iron fist inevitably comes to an end," it is quite clear that no iron fist must inevitably be brought to an end more than the Wall Street-London oligarchs who have perpetrated this grievous crime against the Libyan people and whom Obama represents.
In the coming days, weeks, and months the true measure of NATO's multiple-claims of victory will be put to the test, as will claims of Qaddafi's command structure once again being "dismantled." What is certain is that America and the European Union are ruled by callous, calculating hypocrites who have thrown their people into the crucible of war for nearly a decade against people "sworn" to be the enemies of civilization, only to hand them an entire nation in Northern Africa. Such reckless megalomania may seem removed from the daily lives of Western people, but as economic conditions slide into oblivion, and the number of nations the West can turn its parasitic war machine against dwindles, it will be Americans and Europeans fed next into its ever-hungry maw.
Interesting piece at 17:36. And now I'd like to go back to War Street, if I may. As has been pointed out on several occasions already, the Movement will finally gain legitimacy and proper momentum only then when it associates the banks and their depredations with two other very important events with which they are closely linked. By which is meant the 9/11 fantasy and the ongoing wars based on falsehoods, That is why last Saturday, when Global Occupy went into action, it was so heartening to see that in Zurich of all places, protesters had decorated the front of the huge Credit Suisse building with an impressive banner carrying a clearcut message: 9/11 Was Am Inside Job! If the Swiss have got it, the others are not far behind. Once the US War Street people come out of the test phase they are going through today, they will shout it out loud and clear as well and then we'll see the whole present charade of rightful indignation being played out by the powers that be go up in smoke.
From that moment on, we'll have entered phase two of the resistance and the real insurrection will have begun.
FOREX-Dollar slumps to record low versus yen
21.10.11
The U.S. dollar slumped to a record low against the yen on Friday in its biggest one-day decline in nearly two months, bringing back into focus the threat of official intervention to weaken the Japanese currency.
Traders reported initial large selling of dollars from a U.K. clearer and macro funds, and losses accelerated after the pair broke through a series of stops around 76.30 and 75.90.
Talk that Japanese authorities may follow the footsteps of the Swiss National Bank in putting a floor in dollar/yen had buoyed the currency pair in recent sessions, but investors resumed yen buying after market speculation failed to materialize.
Day two and the entire world is acting as though Gadahfi's death is a proved fact. We even hear his body is being exposed in a freezed placed in a supermarket. Since lies are the coin of the realm, is all this to be believed? Also, it is being bruited about that Seif al Islam is going to defend himself in the International Court. Now when one knows what that horror of an institution represents, it sounds very foolhardy of him even to consider doing so. Has he learnt nothing from past lessons?
World War III is having a high old time. In the intoxication of what it deems to be its latest victory, it's anticipating its next attack on a sovereign nation. Well, we'll see what we will see. No one is going away tamely in the world today. And the entire planet has turned into a battlefield. Although some of the most towering powers cower in their corners, afraid beyond measure for their own safety and well-being. They might yet live to regret it before many moons.
It seems the death of Gadhafi is being treated as a proven fact, although I still have my doubts in the matter. We further hear that his son Muassim has been killed and that now Saif al Islam has also been captured in the town of Zitan. For some of us, a day of mourning has dawned.
US finally admits they lost the Iraq war.
Courageous Iraqi freedom fighters have crushed evil west genociders. Not in the near future could they send ground troops to foreign countries.
*****
MISSION ACCOMPLISHED: President Announces Full Iraq Troop Withdrawal By End of The Year
http://www.shtfplan.com/headline-news/mission-accomplished-president-announces-full-iraq-troop-withdrawal-by-end-of-this-year_10212011
President Obama:
Today I can report, as promised, the rest of our troops in Iraq will come home by the end of the year. After nearly nine years America’s war in Iraq will be over.
Gaddafi's death breached the law, says Russia
22.10.11
"We have to lean on facts and international laws," Mr Lavrov said. "They say that a captured participant of an armed conflict should be treated in a certain way. And in any case, a prisoner of war should not be killed."
Russia has been critical of Nato military action in Libya, saying that it has gone well beyond the stated mission of saving civilian life. The main concern for Moscow now is whether the new Libyan authorities will honour contracts signed by the Gaddafi regime. As well as the oil and arms trade, Russian Railways had secured a £2bn contract to construct a railway line between Sirte and Benghazi. Moscow recognised the National Transitional Council as the official government of Libya last month and said it expected all existing contracts to be honoured.
This is such a self-defeating, lame attitude on the part of Russia, we find it unworthy of any further comment.
17:17 - Some people are warning us that the withdrawal from Iraq by year's end is most suspect and might be the preliminary move leading to an attack on Iran. So let us take this slowly, one step at a time, and wait and see just what these promises of withdrawal actually mean. In any case, the Evil Empire lost its war there some time ago already. If its troops do go in December, it will just be the final confirmation of what we've known all along, namely that the US has never won a war so far in its entire 200+ years of history.
BREAKING: AFGHANISTAN TO BACK PAKISTAN IF US INVADES!
22.10.11
Afghanistan would support Pakistan in case of military conflict between Pakistan and the United States, Afghan President Hamid Karzai said in an interview to a private Pakistani TV channel broadcast on Saturday.
The remarks were in sharp contrast to recent tension between the two neighbors over cross-border raids, and Afghan accusations that Pakistan was involved in killing the chief Afghan peace envoy, former Afghan president Burhanuddin Rabbani, by a suicide bomber on September 20.
"God forbid, If ever there is a war between Pakistan and America, Afghanistan will side with Pakistan," he said in the interview to Geo television.
(Now this is spoken like a true neighbour. Has brainwashed Karzai, CIA asset par excellence, suddenly rediscovered his roots?)
Next stop Syria? Over my dead body, a chastened(?) Russia seems to be saying:
West Planning Libya Solution For Syria
Moscow slams Western draft resolution on Syria
By RIA Novosti
"October 22, 2011 "RIA Novosti " -- The Western draft resolution on Syria could provoke a Libyan scenario in the country, Russian Prime Minister Sergei Lavrov said on Friday.
He underscored that Russia is opposed to Syria sanctions.
“The Western resolution is fraught with the repetition of a Libyan scenario although its co-authors are trying to convince us otherwise,” he said.
The main problem with the document is that it lays the blame squarely at President Bashar Assad’s doorstep, which Lavrov described as a “one sided approach.”
On October 4, Russia and China vetoed a UN Security Council draft resolution that urged the Syrian regime to immediately stop using violence against protesters or face "targeted measures."
The draft resolution, sponsored by France with Britain, Germany and Portugal, was supported by nine of 15 Security Council members. Four others - Brazil, India, South Africa and Lebanon - abstained.
President Assad said in late August that Washington and its European partners were hindering the political changes that represent the only way out of Syria's crisis."
So, what happens next? Well, what else? Turkey, good old Turkey, is now planning to invade Syria militarily, we are told. Never a dull moment nowadays, since the west has no industry left apart from wars.
Eurozone leaders seek foreign money to boost bail-out fund
22nd October, 10-11
Bond insurance could contain the debt crisis
Discussions have turned to using the €440bn (£383bn) European Financial Stability Facility (EFSF) as bulk insurance for another fund backed by private investors.
This second “special purpose vehicle” (SPV) would be used to buy new and existing eurozone sovereign debt, with a particular focus on Spain and Italy. The EFSF would provide blanket first-loss protection to the second fund, which the authorities hope could top €2 trillion.
Such a structure would echo the off-balance sheet “conduits” set up by the banks in the build-up to the financial crisis. But the attraction for the eurozone authorities would be the ability to create a larger bail-out fund than by offering specific insurance on countries’ sovereign debt.
Providing 20pc first-loss insurance, for example, would limit the €400bn of uncommitted EFSF reserves to €2 trillion – although insiders fear the current proposals restrict firepower to just €1 trillion.
Under the SPV plan, the fund could be as large as investors were willing to go – the appeal being the promise of higher-yielding debt backed by €400bn of protection. Asked where the funds would come from, a Brussels official said: “Sovereign wealth funds.”
Norway, China, and Singapore and the oil-rich Middle East nations all have large sovereign wealth funds. Other private money would also be sought. Sources in Brussels added that Spain and Italy will only be offered the facility if they commit to further austerity and structural reforms to demonstrate that their public finances can be put in order over the coming years. In addition, investments made through the SPV may come with conditions that require Italy and Spain to stick to austerity programmes and fiscal targets – an attribute particularly appealing to the Germans.
Debate about how to increase the firepower of the EFSF has been raging in Brussels, though all are agreed that €440bn is not sufficient. French President, Nicolas Sarkozy, wants to create a de-facto bank, with the EFSF supported by funding from the European Central Bank (ECB). However, the German Chancellor, Angela Merkel, is adamant the ECB is not involved. Instead, she supports the idea of first-loss insurance.
Germany appears to have won the battle, with French Finance Minister, Francois Baroin, saying on Friday: “Tapping the central bank is not a definitive point of discussion for us, he said. What matters is what works.” Dutch Finance Minister, Jan Kees de Jager, later added: “The principle that we leverage the EFSF with private money is being subscribed by everyone but the level of success is uncertain. How much can we raise, that is being looked at.”
However, there are concerns France’s credit rating could be jeopardised due to the risk of losses on the €158bn of guarantees it has provided the EFSF. Moody’s last week warned that France’s rating could be threatened by supporting other eurozone nations.
To protect France’s rating, the bolstered EFSF may be restricted to buying just Spanish and Italian debt. Even after recent downgrades, Italy’s rating is A2, Spain’s is A1, while Greece is rated as junk.
So we're back to basics, are we, wars just being the icing on the cake? Well, so be it. Here's a glimpse from the US perspective:
1. Greece will default very soon ...
”Banks must bite the bullet and take some big hits in their Greek loans. … Whether banks accept this ‘solution’ voluntarily or not, it will mean Greece is in default.”
2. The contagion of fear will spread …
Global investors know “if one major Western government can default, so can others.” They will refuse to lend “to highly indebted governments” or “demand outrageously high yields.”
3. European megabanks will collapse …
Some of the “largest banks will collapse under the weight of defaulting sovereign debts and … mass withdrawals … Spain … French banks” … the impact will ripple across “J.P. Morgan Chase, Bank of America and Citigroup … All three are in danger.”
4. EU governments suffer new credit rating downgrades ...
”France and Germany, will scramble to rescue their failing banks.” But “bank bailouts are seriously flawed” as “governments gut their own fiscal balance … suffer big downgrades,” or pay “far higher interest rates.”
5. Spain and Italy next to face default on their massive debts ...
With “$3.4 trillion in debt, or about 10 times more than Greece” they too risk default.
6. Global debt markets will suffer a critical meltdown ...
Anticipating “default by a country as large as Spain or Italy, nearly all debt markets in the world will freeze.” Withdrawals, panic “not only crush the borrowing power of the PIIGS” but threaten meltdowns in “France, Germany, Japan, the U.K. and the U.S.”
7. Vicious cycle: sovereign defaults, bank failures, global depression ...
Government defaults trigger more bank failures, “cut off the flow of credit to businesses and households, sink the global economy into a depression, and perpetuate the vicious cycle.”
History inevitably repeats itself: Arab Spring triggered Wall Street Fall. Next, the raging European monetary collapse will ripple through America’s banking system, completing the 2008 meltdown that never ended.
There will be no further bank bailouts. US banks are broke. Washington is broken. The Occupiers Revolution, the masses, will never accept new bank bailouts. Never. They’ll toss politicians and overthrow government first. The end game is accelerating.
I want to back up what was said above by one blogger. The US has finally recognised the war in Iraq has been lost. Sure, they are leaving some mercenaries behind. Sure, they are apparently in the process of building an underground hangar to house their fighter planes. All this does not detract from the stark truth that the Iraqi Resistance crushed the most "powerful" army in the world and are now ceremoniously ushering it out of their country.
Best of all, have a look at this:
US to slow diplomatic efforts in Iraq
22.10.11
Beyond the final withdrawal of troops that President Obama announced Friday, U.S. fiscal troubles are dictating a drastic scaling back of plans to expand diplomatic and cultural programs.
Long live the people of Iraq. At this point, one begins to wonder whether the Afghan Resistance might finally accept a similar solution as a means of getting rid of their invaders at long last.
We are dancing on the edge of the volcano, all of us. Is it only me, but I get this sense in the blood that recent events in Libya really mark the turning point in the world's relations with the west. History might well describe this period in time in terms of a race: the wars, the west going down, the global insurrection, all three racing madly towards the finishing line and all bets off as to who will get their first.
After Libya, it seems to me that the fate of the west has been sealed. The trust deficit will grow exponentially, even amongst its own population and recovery as they'd hope to achieve will prove to be no more than a chimera. They thought to intimidate, they only managed to liberate the peoples of the world.
MY REQUEST TO THE BLOGMASTERS: PLEASE TO LET THIS POST STAND. DO NOT DELETE IT IF YOU CAN AT ALL BEAR IT. WILL COME IN USEFUL IN DAYS AHEAD AS A POINT OF REFERENCE FOR FOLLY ON THE PART OF THE MOST PRO-US OF BRITISH SHILLS. THANK YOU.
The American phoenix is slowly rising again.
23.10.11
Within five years or so, the US will be well on its way to self-sufficiency in fuel and energy. Manufacturing will have closed the labour gap with China in a clutch of key industries. The current account might even be in surplus.
The making of computers, electrical equipment, machinery, autos and other goods may shift back to the US from China. Assumptions that the Great Republic must inevitably spiral into economic and strategic decline - so like the chatter of the late 1980s, when Japan was in vogue - will seem wildly off the mark by then.
Telegraph readers already know about the "shale gas revolution" that has turned America into the world’s number one producer of natural gas, ahead of Russia.
Less known is that the technology of hydraulic fracturing - breaking rocks with jets of water - will also bring a quantum leap in shale oil supply, mostly from the Bakken fields in North Dakota, Eagle Ford in Texas, and other reserves across the Mid-West.
"The US was the single largest contributor to global oil supply growth last year, with a net 395,000 barrels per day (b/d)," said Francisco Blanch from Bank of America, comparing the Dakota fields to a new North Sea.
Total US shale output is "set to expand dramatically" as fresh sources come on stream, possibly reaching 5.5m b/d by mid-decade. This is a tenfold rise since 2009.
The US already meets 72pc of its own oil needs, up from around 50pc a decade ago.
"The implications of this shift are very large for geopolitics, energy security, historical military alliances and economic activity. As US reliance on the Middle East continues to drop, Europe is turning more dependent and will likely become more exposed to rent-seeking behaviour from oligopolistic players," said Mr Blanch.
Meanwhile, the China-US seesaw is about to swing the other way. Offshoring is out, 're-inshoring' is the new fashion.
(And the Bank of America has predicted a second downgrade of US economic rating within a week or so. The shale gas myth is one we've heard before. We continue to think it is just that; a myth. As for forgetting the woes of the banking system, the coming crash of the derivatives market, etc., etc., well, well. Some people never worry about where the truth lies.)
The Coming Derivatives Crisis That Could Destroy The Entire Global Financial System
Most people have no idea that Wall Street has become a gigantic financial casino. The big Wall Street banks are making tens of billions of dollars a year in the derivatives market, and nobody in the financial community wants the party to end.
(Shale oil still seems to be a scam to me. But we'll factor it into our thinking of what's to come in the immediate future. However, the derivatives collapse is not a scam. So it should be borne in mind when we talk about the power distribution as the century unfolds.)
The word “derivatives” sounds complicated and technical, but understanding them is really not that hard. A derivative is essentially a fancy way of saying that a bet has been made.
Originally, these bets were designed to hedge risk, but today the derivatives market has mushroomed into a mountain of speculation unlike anything the world has ever seen before. Estimates of the notional value of the worldwide derivatives market go from $600 trillion all the way up to $1.5 quadrillion.
Permalink^Oct
7 U.S. Cities on the Verge of Bankruptcy
24.10.11
The harsh economic climate is changing. The time has come when citizens and companies aren’t the only ones being forced to file for bankruptcy…
Major cities are among the ranks of those in dire straits.
On Wednesday, Pennsylvania's capital city Harrisburg opted for the rarely used Chapter 9 of the U.S. bankruptcy code.
Sarkozy, Merkel Say No Deal On Euro Financial Crisis
24.10.11
An agreement on how to recapitalize euro zone banks and on the best way to boost the firepower of the bloc's rescue fund eluded a European Union summit Sunday. Talks will now go on through the early part of this week in the hopes of reaching a compromise.
@8:17 (24.10.11)
Wishful thinking or Simply Delirium
The US economy is in a worse shape than ever.
Despite official unemployment rate stagnating around 9%, in fact employment situation is steadily worsening, as only around 60'000 jobs are created per month. For employment to rise again, at least 150'000 to 200'000 new jobs per month would be required, as the US workforce is continuously growing along with US population growth.
Since 2009, also US trade imbalance is persisting at a high level of additional $40 billon import excess vs. export each month.
In effect this trade imbalance signifies there is no additional money entering the US anymore. Quite to the contrary, every month additional $40 billion are leaving the country.
And the US banking sector contraction is continuing unabated.
Last week 4 more US banks went bankrupt.
There is more to come, as more and more people don't pay their mortgage rates anymore, thus pushing the banks which were issuing them into bankruptcy.
The Situation in Libya Today
Does Gadhafi still live? Most people give a very clearcut "no" to this question. Only two persons today still say he's alive, one is a blogger called South on mathaba.com, without any further details, the other is Dr Steven Pieczenik on the Alex Jones show. Pieczenik was a bit more xplicit, claiming Gadhafi was probably taken out by US special ops sent to or through Tchad and he's now at some undisclosed location where his family will end up by joining him. There's a third person who also thinks Gadhafi is still alive and that happens to be me. We have been fed such rotten stuff on events ever since they began following Hilary Clinton's departure from Tripoli that I simply can't accept any of it. Where Gadhafi may be now, I have no idea. But I do believe we'll be hearing a little more from him sometime in the future.
His being inccomunicado has been given several explanations already. One: he came to an agreement with NATO to vacate power and NATO promised in return not to nuke Tripoli is one such. I can imagine he left Libya so the siege on Sirte could finally be lifted and the people remaining saved.
Saif al Islam will be discussed some other time. For now just this. He promised something important would happen on Oct 25 and today we read a brief news item that a "blast" (yet another!) had taken place in Sirte this morning. Fuel tanks blew up and some 100 people were killed. Depending on who these people were, it could be the opening move on the part of the rapidly developing Libyan civil war.
Finally bear in mind, LIbya is exactly the same thing as, say, Vietnam, Afghanistan, Iraq, etc., etc. Just one more war of Zio-imperialism which, though it will indeed kill a lot of people, will get the west powers nowhere at all. But perhaps all they do want is to kill as many people as they can and spread DU wherever possible.
Come on, you Rats, weep. And we'll weep along with you.
Tuesday, October 25, 2011
Sixteen Things Libya Will Never See Again..
1. There is no electricity bill in Libya; electricity is free for all its citizens.
2. There is no interest on loans, banks in Libya are state-owned and loans given to all its citizens at zero percent interest by law.
3. Having a home considered a human right in Libya.
4. All newlyweds in Libya receive $60,000 dinar (U.S.$50,000) by the government to buy their first apartment so to help start up the family.
5. Education and medical treatments are free in Libya. Before Gaddafi only 25 percent of Libyans were literate. Today, the figure is 83 percent.
6. Should Libyans want to take up farming career, they would receive farming land, a farming house, equipments, seeds and livestock to kickstart their farms are all for free.
7. If Libyans cannot find the education or medical facilities they need, the government funds them to go abroad, for it is not only paid for, but they get a U.S.$2,300/month for accommodation and car allowance.
8. If a Libyan buys a car, the government subsidizes 50 percent of the price.
9. The price of petrol in Libya is $0.14 per liter.
10. Libya has no external debt and its reserves amounting to $150 billion are now frozen globally.
11. If a Libyan is unable to get employment after graduation the state would pay the average salary of the profession, as if he or she is employed, until employment is found.
12. A portion of every Libyan oil sale is credited directly to the bank accounts of all Libyan citizens.
13. A mother who gives birth to a child receive U.S.$5,000.
14. 40 loaves of bread in Libya costs $0.15.
15. 25 percent of Libyans have a university degree.
16. Gaddafi carried out the world’s largest irrigation project, known as the Great Manmade River project, to make water readily available throughout the desert country.
The Vatican calls for global economic governance
On October 24th, 2011 the Vatican called for the creation of a “global public authority” along with a “central world bank” to manage the economic crisis and prevent such a thing from happening again...
I say, look who^s speaking and to what purpose. Really, the judeo-christian scam has been successful beyond its wildest dreams. But for how much longer?
EU is apparently out of the woods as regards its bailout scheme. The banks have agreed to take a 50% loss. So onto the next episode in the EU financial saga.
Washington’s agenda revealed: US-backed rebels ask NATO to ‘stay in Libya’
NATO along with US puppet Qatar will be staying in Libya after all (oh, and now admit they all had boots on the ground too.)
Shall we laugh, shall we cry? It's all such a mess, it's beyond words. But at least it will keep them busy for awhile, the swines.
Ill or well, our Chavez has never ever put a foot wrong, whereas everyone else has let us down:
Venezuela’s Chavez says he won’t recognize new government in Libya
By Associated Press, Published: October 26
CARACAS, Venezuela — Venezuelan President Hugo Chavez said Wednesday that he won’t recognize Libya’s new government and predicted more war in the country.
The Venezuelan leader condemned the killing of Libyan strongman Moammar Gadhafi, whom he had considered a friend. He defended Gadhafi throughout the conflict and strongly criticized NATO’s military involvement in the country.
“For us, there is no government in Libya,” Chavez told reporters at the presidential palace.
“We don’t recognize the government that NATO has installed. It’s installed a government through bombs in Libya and through a genocide ... and an assassination,” Chavez said.
“Independently of who the president was, whether you or others didn’t like him ... he was the president of Libya,” Chavez said.
He said the conflict has left behind a shattered country, and he predicted that it isn’t over.
“Libya isn’t under anyone’s control. A war will start there now,” Chavez said. “Well, it already started, imposed by NATO and the United Nations Security Council.”
“They destroyed that country, and now there’s chaos there, violence everywhere,” he added.
The Venezuelan president demanded peace negotiations during the conflict in Libya and denounced the rebels as “terrorists.” Gadhafi at one point sent Chavez a letter thanking him for his support.
Chavez said after Gadhafi’s death that he would be remembered as a martyr.
Where are our blogmasters? Have they disappeared, given up on us? It pains us to note this downright negligence of their duties. Or has the world turned so peaceful, so comfortable that there remains nothing left to be said? No Libya, no Syria, no Afghanistan, no Iraq and everything hunky dory with the killer west? Do give us a helping hand occasionally.
HYPOCISY thy name is really the WEST:
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U.N. ends mandate for NATO military operations in Libya - 27.10.11
UNITED NATIONS (Reuters) - The U.N. Security Council on Thursday canceled its authorization for a seven-month-old NATO military operation in Libya that led to the ouster and death of Libyan leader Muammar Gaddafi.
The 15-nation council unanimously approved a resolution terminating the U.N. mandate, which set the no-fly zone over Libya and permitted foreign military forces, including NATO, to use "all necessary measures" to protect Libyan civilians.
The resolution said the U.N. authorization for foreign military operations in Libya will lapse at 11:59 p.m. local Libyan time on October 31.
So what now, hypocrites, which country are you getting ready to attack now?
Venezuela scrambles to bring home gold reserves
Wed Oct 26, 2011
Chavez ordered $11 billion worth of bullion brought home.
Source says ingots with be flown back, beginning in Nov.
CARACAS, Oct 26 (Reuters) - At the foot of a dimly lit spiral staircase far below Venezuela's Central Bank, workers prepare for an unusual arrival: 17,000 gold bars being shipped back on the order of President Hugo Chavez.
Repatriating about 190 tonnes of bullion worth more than $11 billion from banks in the West will be risky, slow and expensive, experts say. Venezuela holds 60% of its foreign reserves in gold, much of it kept in London banks. Bringing it back to Caracas will cost about 9 million dollars, according to the head of the Venezuelan National Bank.
Occupy Wall Street Launching First Nationwide General Strike In America Since 1946
The strike will occur on November 2nd.
Occupy Wall Street in New York has also been considering a proposal for a general strike. And there are also rumors of a global general strike next year.
Furthermore, Occupy Oakland in California produced the first real victim of police violence of the movement, war veteran Gary Olson who was hit in the head by a police-thrown projectile and now lies seriously injured in hospital.
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