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Paul Merrell

Explainer: why the Greek election is so important - 0 views

theconversation.com/election-is-so-important-36565

economy Greece politics majority-rule

shared by Paul Merrell on 24 Jan 15 - No Cached
  • The Greek election on January 25 will be the most important in recent memory. If the pollsters are proven correct, Syriza is poised to win by a large margin and this victory will end four decades of two-party rule in Greece. Since 2010 – and as a result of austerity measures – the country has seen its GDP shrink by nearly a quarter, its unemployment reach a third of the labour force and nearly half of its population fall below the poverty line. With the slogan “hope is coming” Syriza, a party that prior to 2012 polled around 4.5% of the vote, seems to have achieved the impossible: creating a broad coalition that, at least rhetorically, rejects the TINA argument (There Is No Alternative) that previous Greek administrations have accepted. In its place, Syriza advocates a post-austerity vision, both for Greece and Europe, with re-structuring of sovereign debt at its centre. How significant is this victory for Europe and the rest of the world? Comments range from grave concerns about the impact on the euro and the global economy to jubilant support for the renewal of the European left. For sure, Syriza is at the centre of political attention in Europe.
  • Paul Merrell on 24 Jan 15
     
    Economic havoc looks to be about to break Greece's two-party political system as a third party, Syriza rises to take control of government. Might a similar event happen in the U.S. if the economy gets much worse, as seems about to happen because of the collapse of the petro-dollar? If so, what might the new coalition look like in the U.S.? This article points out that in Greece, Syriza is uniting demographic elements viewed as leftist. But the what is regarded as the left in the U.S., progressives, liberals, socialists, and communists, historically has been incapable of organizing in a way to assert political power for decades because they invariably fall for the choice of two evils argument and vote Democratic in general elections. It seems to be much the same story on the right in the U.S. For example, the Tea Party was co-opted by the Republican Party in general elections from the Tea Party's inception. What has been particularly troubling to me is that the American left and right actually agree on very many issues, but the divide-and-conquer strategy of the corporate/globalist/war machine of the oligarchy has so instilled hatred between the right and the left that it's been impossible to form a third-party that pushes an agenda driven by majority public opinion. To me, a new party that focuses on areas of broad agreement and avoids areas of disagreement seems to be the most likely candidate to break the the rule of our present usurpers of democracy. But if we are to create a new Majority Party (I like that name) based on majority opinion, how do we get past the hatred, particularly given that the usurpers will do their level best to fan the fire of hatred even more as the Majority Party gains numbers? And what to do about majority opinions that are formed by false usurper propaganda, e.g., the current propaganda campaigns that drive the pro-war agenda? They've been able to create majorities, e.g., for renentry of the U.S. military into Iraq to fight ISIL,
Paul Merrell

The Collapse of Europe? « LobeLog - 0 views

www.lobelog.com/the-collapse-of-europe

EU-breakup Hungary Greece Russia China border-restrictions anti-Islam Euroskeptics

shared by Paul Merrell on 28 Jan 15 - No Cached
  • And yet, for all this success, the European project is currently teetering on the edge of failure. Growth is anemic at best and socio-economic inequality is on the rise. The countries of Eastern and Central Europe, even relatively successful Poland, have failed to bridge the income gap with the richer half of the continent. And the highly indebted periphery is in revolt. Politically, the center may not hold and things seem to be falling apart. From the left, parties like Syriza in Greece are challenging the EU’s prescriptions of austerity. From the right, Euroskeptic parties are taking aim at the entire quasi-federal model. Racism and xenophobia are gaining ever more adherents, even in previously placid regions like Scandinavia. Perhaps the primary social challenge facing Europe at the moment, however, is the surging popularity of Islamophobia, the latest “socialism of fools.” From the killings at the Munich Olympics in 1972 to the recent attacks at Charlie Hebdo and a kosher supermarket in Paris, wars in the Middle East have long inspired proxy battles in Europe. Today, however, the continent finds itself ever more divided between a handful of would-be combatants who claim the mantle of true Islam and an ever-growing contingent who believe Islam — all of Islam — has no place in Europe.
  • Europeans are beginning to realize that Margaret Thatcher was wrong and there are alternatives — to liberalism and European integration. The most notorious example of this new illiberalism is Hungary. On July 26, 2014, in a speech to his party faithful, Prime Minister Viktor Orban confided that he intended a thorough reorganization of the country. The reform model Orban had in mind, however, had nothing to do with the United States, Britain, or France. Rather, he aspired to create what he bluntly called an “illiberal state” in the very heart of Europe, one strong on Christian values and light on the libertine ways of the West. More precisely, what he wanted was to turn Hungary into a mini-Russia or mini-China. “Societies founded upon the principle of the liberal way,” Orban intoned, “will not be able to sustain their world-competitiveness in the following years, and more likely they will suffer a setback, unless they will be able to substantially reform themselves.” He was also eager to reorient to the east, relying ever less on Brussels and ever more on potentially lucrative markets in and investments from Russia, China, and the Middle East.
  • For some, the relationship between Hungary and the rest of Europe is reminiscent of the moment in the 1960s when Albania fled the Soviet bloc and, in an act of transcontinental audacity, aligned itself with Communist China. But Albania was then a marginal player and China still a poor peasant country. Hungary is an important EU member and China’s illiberal development model, which has vaulted it to the top of the global economy, now has increasing international influence. This, in other words, is no Albanian mouse that roared. A new illiberal axis connecting Budapest to Beijing and Moscow would have far-reaching implications.
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  • That July speech represented a truly Oedipal moment, for Orban was eager to drive a stake right through the heart of the ideology that had fathered him. As a young man more than 25 years earlier, he had led the Alliance of Young Democrats — Fidesz — one of the region’s most promising liberal parties. In the intervening years, sensing political opportunity elsewhere on the political spectrum, he had guided Fidesz out of the Liberal International and into the European People’s Party, alongside German Chancellor Angela Merkel’s Christian Democrats. Now, however, he was on the move again and his new role model wasn’t Merkel, but Russian President Vladimir Putin and his iron-fisted style of politics. Given the disappointing performance of liberal economic reforms and the stinginess of the EU, it was hardly surprising that Orban had decided to hedge his bets by looking east. The European Union has responded by harshly criticizing Orban’s government for pushing through a raft of constitutional changes that restrict the media and compromise the independence of the judiciary. Racism and xenophobia are on the uptick in Hungary, particularly anti-Roma sentiment and anti-Semitism. And the state has taken steps to reassert control over the economy and impose controls on foreign investment.
  • The Hungarian prime minister, after all, has many European allies in his Euroskeptical project. Far right parties are climbing in the polls across the continent. With 25% of the votes, Marine Le Pen’s National Front, for instance, topped the French elections for the European parliament last May. In local elections in 2014, it also seized 12 mayoralties, and polls show that Le Pen would win the 2017 presidential race if it were held today. In the wake of the Charlie Hebdo shootings, the National Front has been pushing a range of policies from reinstating the death penalty to closing borders that would deliberately challenge the whole European project. In Denmark, the far-right People’s Party also won the most votes in the European parliamentary elections. In November, it topped opinion polls for the first time. The People’s Party has called for Denmark to slam shut its open-door policy toward refugees and re-introduce border controls. Much as the Green Party did in Germany in the 1970s, groupings like Great Britain’s Independence Party, the Finns Party, and even Sweden’s Democrats are shattering the comfortable conservative-social democratic duopoly that has rotated in power throughout Europe during the Cold War and in its aftermath.
  • The Islamophobia that has surged in the wake of the murders in France provides an even more potent arrow in the quiver of these parties as they take on the mainstream. The sentiment currently expressed against Islam — at rallies, in the media, and in the occasional criminal act — recalls a Europe of long ago, when armed pilgrims set out on a multiple crusades against Muslim powers, when early nation-states mobilized against the Ottoman Empire, and when European unity was forged not out of economic interest or political agreement but as a “civilizational” response to the infidel.
  • Euroskepticism doesn’t only come from the right side of the political spectrum. In Greece, the Syriza party has challenged liberalism from the left, as it leads protests against EU and International Monetary Fund austerity programs that have plunged the population into recession and revolt. As elsewhere in Europe, the far right might have taken advantage of this economic crisis, too, had the government not arrested the Golden Dawn leadership on murder and other charges. In parliamentary elections on Sunday, Syriza won an overwhelming victory, coming only a couple seats short of an absolute majority. In a sign of the ongoing realignment of European politics, that party then formed a new government not with the center-left, but with the right-wing Independent Greeks, which is similarly anti-austerity but also skeptical of the EU and in favor of a crackdown on illegal immigration.
  • Paul Merrell on 28 Jan 15
     
    Greece and Hungary moving to the right *and toward Russia and China.* The Syrza Party won big in Greece on Sunday. 
Gary Edwards

Review & Outlook: Palin's Dollar, Zoellick's Gold - WSJ.com - 0 views

online.wsj.com/...3514904575602231815453378.html

gold gold-currency financial-collapse banksters Federal-Reserve Sara-Palin Zoellick

shared by Gary Edwards on 09 Nov 10 - No Cached
  • Gary Edwards on 09 Nov 10
     
    a new global monetary regime to reduce currency turmoil and spur growth: "This new system is likely to need to involve the dollar, the euro, the yen, the pound and a renminbi that moves toward internalization and then an open capital account," he wrote, in an echo of what we've been saying for some time. And here's Mr. Zoellick's sound-money kicker: "The system should also consider employing gold as an international reference point of market expectations about inflation, deflation and future currency values. Although textbooks may view gold as the old money, markets are using gold as an alternative monetary asset today." Mr. Zoellick's last observation will not be news to investors, who have traded gold up to $1,400 an ounce, its highest level in real terms since the 1970s, as a hedge against the risk of future inflation. However, his point will shock many of the world's financial policy makers, who still think of gold as a barbarous relic rather than as an important price signal. Lest they faint in the halls of the International Monetary Fund, we don't think Mr. Zoellick is calling for a return to a full-fledged gold standard. His nonetheless useful point is that a system of global monetary cooperation needs a North Star to judge when it is running off course. The Bretton Woods accord used gold as such a reference until the U.S. failed to heed its discipline in the late 1960s and in 1971 revoked the pledge to sell other central banks gold at $35 an ounce.
Gary Edwards

MAULDIN: It's All About The Jobs -- And Gold - 0 views

www.businessinsider.com/s-all-the-jobs-and-gold-2011-9

John-Mauldin financial-collapse JOBS Unemployment-U6 gold

shared by Gary Edwards on 04 Sep 11 - No Cached
  • Gary Edwards on 04 Sep 11
     
    But as I live in the real world, I buy gold, even though I am optimistic we'll get through this rough patch; because I simply don't trust the bas*%*ds who are driving this ship with 100% of my money in dollars, or any fiat currency, for that matter. Gold to me is a neutral currency. While the metal looks good over the last ten years (and I became bullish on it in 2002 in this letter), over the last 32 years it has not had all that much luster. Bonds have been much better as an investment. It is all about timing. If I wanted to buy gold for investment or trading, I would simply buy GLD. (It is an excellent vehicle for traders; however, GLD is not what I think of as insurance.) And if I were buying gold as a trade, I would buy it in terms of the euro or yen, which I think are both going down against the US dollar. For those who want to buy larger sums of gold, there is a program that I like backed/sponsored by the state government of Western Australia, called the Perth Mint. You can buy gold certificates that represent actual bullion in vaults in Perth at reasonable prices. While your gold is stored in Perth, you can take delivery if you want and leave the country with no taxes owed. Or you can sell the gold and get cash. You diversify your country risk, have excellent and safe storage facilities, diversify your currency risk (if, like me, you think of gold as a currency), and have a different asset class than traditional portfolios. You can learn more about the Perth Mint at www.perthmint.com. And one of their dealers is an old friend of mine, Mike Checkan of Asset Strategies International. I have known Mike for about 30 years, and he does what he says and shoots straight. He is well-known in the investment information world, with lots of endorsements. You can learn more about his outfit at www.assetstrategies.com or call them toll-free at (800) 831-0007 in the U.S. and Canada, or direct at (301) 881-8600. You can also email them from their web site. Where to buy
Paul Merrell

Implications Of The Cyprus Bailout - Business Insider - 0 views

www.businessinsider.com/s-of-the-cyprus-bailout-2013-3

Cyprus banksters financial-collapse confiscation

shared by Paul Merrell on 26 Mar 13 - No Cached
  • As expected, Cyprus and the EU reached a new late-night bailout deal last night that will reduce the chance that Cyprus's financial system and economy will completely implode. The new deal is better than the last deal in one key respect: Deposits under 100,000 euros will be protected That's very important. Those deposits were ostensibly "insured." To seize them, the way the last bailout deal would have, would have been grossly unfair and would have set a truly alarming precedent. Now, small depositors in European banks can breathe more easily. At least in this case of gross malpractice on the part of reckless bank managers, their life savings have been preserved. Alas, the good news ends there.
Paul Merrell

Cyprus eyes 25 percent levy on big savers at stricken Bank of Cyprus | Reuters - 0 views

www.reuters.com/...s-finmin-idUSBRE92M04320130323

Banksters financial-collapse Cyprus

shared by Paul Merrell on 24 Mar 13 - No Cached
  • Cyprus is considering a levy of about 25 percent on bank deposits over 100,000 euros ($130,000) in the island's largest local lender, Bank of Cyprus, Finance Minister Michael Sarris said on Saturday. Sarris told reporters that "significant progress" had been made in talks with officials from the European Union, European Central Bank and International Monetary Fund - the so-called 'troika' - and that the discussions may conclude on Saturday evening.
Paul Merrell

Forex Flash: Capital flight abounds in Eurozone - UBS - 0 views

www.nasdaq.com/...ounds-in-eurozone-ubs-cm232768

financial-collapse euro Cyrpus

shared by Paul Merrell on 04 Apr 13 - No Cached
  • According to Research Analyst Gareth Berry at UBS, "We expect that the theme of capital flight out of the Eurozone will continue to run for some time in the wake of the Cyprus bailout." The immediate focus, of course, is on deposit flight but capital controls will be expected to do their job for now. Of course, the images of bank runs and deposit flight are powerful, but we expect capital flight in the form of investment outflows is even more pernicious. Deposit flight exposes funding gaps on a banking-sector level, but capital outflows, be they via portfolio flows or FDI reversals, tend to expose the funding gaps of an entire nation, a fact that emerging markets can strongly attest to. As timely data is still rather difficult to come by, we use our Equity Flow monitor from last week to see if asset managers are now liquidating underlying investments in the Eurozone, especially taking into account that our FX Flow Monitor has been showing such trends for several weeks.
  • Unsurprisingly, the Eurozone suffered the most out of all G10 markets we track, but the distribution of selling was even more troubling. Eurozone-based clients actually registered flat net flow - i.e. repatriation back to the Eurozone offsets their overseas interest. However, for non-Eurozone based investors it was one way: the US and UK both registered strong inflows last week but almost all of the buying came from their own clients leaving the Eurozone. "If past history is anything to go by, the Eurozone's funding gap may widen further and it's the real economy, beyond the banks, that will suffer." Berry warns.
Paul Merrell

Cyprus bailout inside info? 132 companies pull out over $900mn in deposits - RT News - 0 views

rt.com/...s-companies-withdraw-money-218

financial-collapse Cyprus euro

shared by Paul Merrell on 04 Apr 13 - No Cached
  • One hundred and thirty-two companies reportedly had inside knowledge of Cyprus’ impending levy tax as they withdrew deposits worth US$916 million in the run-up to the bailout deal.
Paul Merrell

After Cyprus, the EU's Attention Turns to Tiny Luxembourg - Businessweek - 0 views

www.businessweek.com/...ntion-turns-to-tiny-luxembourg

Banksters cyprus financial-collapse luxembourg

shared by Paul Merrell on 02 Apr 13 - No Cached
  • It’s getting hot in Luxembourg, a nation that’s something like Cyprus on steroids. Its population is smaller and its banking sector is bigger. If you thought it was risky for banks in Cyprus to have assets about eight times the national gross domestic product, then what is one to make of Luxembourg, where the multiple is nearly 23?Worryingly for Luxembourg, there’s a new idea afloat that European Union nations, even small ones, should take responsibility for saving banks operating within their borders, instead of falling back on the EU for help.
  • Paul Merrell on 02 Apr 13
     
    Which has enormous repercussions for the "single market" goal for the Euro and the future of the European Union. So far, only the Iceland government response of disavowing the indebtedness of Icelandic banks has worked to rescue national economies from banksters mistakes. Shifting the banksters losses to government --- and the resulting austerity measures --- have only further damaged national economies during the current depression. Lesson learned: Bankruptcy for banksters, not bailouts. Any tangible assets they have will survive but will be owned by their debtors. Under any sane approach to maintaining a national economy, depositors would be granted priority in bankruptcy payments, ahead of other lenders to the bank.
Paul Merrell

Bank of Cyprus big savers to lose up to 60 percent - Yahoo! Finance - 0 views

finance.yahoo.com/...big-savers-lose-093543420.html

financial-collapse Banksters cyprus

shared by Paul Merrell on 02 Apr 13 - No Cached
  • Big depositors at Cyprus' largest bank may be forced to accept losses of up to 60 percent, far more than initially estimated under the European rescue package to save the country from bankruptcy, officials said Saturday. Deposits of more than 100,000 euros ($128,000) at the Bank of Cyprus will lose 37.5 percent in money that will be converted into bank shares, according to a central bank statement. In a second raid on these accounts, depositors also could lose up to 22.5 percent more, depending on what experts determine is needed to prop up the bank's reserves. The experts will have 90 days to figure that out.
  • The remaining 40 percent of big deposits at the Bank of Cyprus will be "temporarily frozen for liquidity reasons," but continue to accrue existing levels of interest plus another 10 percent, the central bank said. The savings converted to bank shares would theoretically allow depositors to eventually recover their losses. But the shares now hold little value and it's uncertain when — if ever — the shares will regain a value equal to the depositors' losses.
Paul Merrell

Turkish-Uyghur Terror Inc. - America's Other Al Qaeda | nsnbc international - 0 views

nsnbc.me/...or-inc-americas-other-al-qaeda

war & peace U.S.-foreign-policy Gray-Wolves Turkey Uyghur

shared by Paul Merrell on 28 Sep 15 - No Cached
  • Because it relatively poorly understood and under-reported in comparison to other more notorious terrorist groups, the Turkish-Uyghur terror network is perhaps more dangerous and of greater utility to the United States and its allies presently versus their increasingly exposed Al Qaeda legions. The genesis of modern Turkish-sponsored terrorism, like Al Qaeda, also originates from the Cold War. Part of the wider stay-behind networks known as “Gladios” created by NATO to allegedly fight Soviet forces in the event of a Soviet invasion and occupation of Western Europe, these terrorist groups were instead turned against the population of NATO member states and engaged in violence, terrorism, mass murder, and assassinations. A group of ultra-nationalists known as the “Grey Wolves” would be cultivated for this task within Turkey. In a 1998 LA Times article titled, “Turkish Dirty War Revealed, but Papal Shooting Still Obscured,” it would be reported that (emphasis added):
  • In the late 1970s, armed bands of Gray Wolves launched a wave of bomb attacks and shootings that killed hundreds of people, including public officials, journalists, students, lawyers, labor organizers, left-wing activists and ethnic Kurds. During this period, the Gray Wolves operated with encouragement and protection of the Counter-Guerrilla Organization, a section of the Turkish Army’s Special Warfare Department. Working out of the U.S. Military Aid Mission building in Ankara, the Special Warfare Department received funds and training from U.S. advisors to establish “stay behind” squads of civilian irregulars who were set up to engage in acts of sabotage and resistance in the event of a Soviet invasion. Similar Cold War counter-guerrilla units were created in every member state of the North Atlantic Treaty Organization. But instead of preparing for foreign enemies, these operatives often set their sights on domestic targets. Another LA Times piece titled, “Turkey’s Gray Wolves Nip at Heels of Power,” would reveal the extent of the Grey Wolves reign of terror (emphasis added): At the height of the Cold War, the army used the Gray Wolves as a violent counterweight to Turkish Communists. The party’s coffers swelled with secret contributions from the government.  By the late 1970s, the Gray Wolves had spun out of state control. Their paramilitary wing fought a campaign against leftist rivals that killed nearly 6,000 people. Ali Agca, who shot Pope John Paul II in a 1981 assassination attempt, is alleged to have been affiliated with the party.
  • The article would also reveal that despite this horrific past, the Grey Wolves and their political allies were still a very potent political force in Turkey. Today, the Grey Wolves function as a paramilitary wing of the Nationalist Movement Party (MHP), which holds the third largest number of seats in Turkey’s parliament. As troubling as this should be to Turks who may find themselves on the receiving end of a politically powerful terrorist organization apparently tolerated, even sponsored by NATO for decades and in particular, supported by the United States, the Grey Wolves’ terrorism has branched out far beyond Turkey’s borders. NATO Gladio Goes Global  According to a 2009 New American Media report titled, “Behind the China Riots — Oil, Terrorism & ‘Grey Wolves’,” Turkey’s Grey Wolves have established militant training camps as far as China’s western Xinjiang region, helping produce violent terrorists who have carried out a series of deadly attacks across China. The report would state (emphasis added):
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  • Enter the Grey Wolves, one of the world’s most notorious terrorist organizations. Founded in the 1960s, the Wolves are a pan-Turkic paramilitary group with 1 million followers across the Near East, Central Asia and inside Xinjiang. During the decade of political violence in Turkey in the 1980s, the military-backed activists launched a wave of assassinations, massacres of ethnic minorities, and extortions of businesses. By official count, the Turkish government holds the Wolves responsible for more than 600 murders, while leftists estimate the victims numbered in the many thousands.  Following the collapse of the Soviet Union, the Grey Wolves set up training camps in Central Asia for youths from Turkic language groups, including Uighur. Their indoctrination program embraces the goal of establishing Turan, a Turkish empire across Euro-Asia, subjugating non-Turkish races and unleashing violence to achieve their ends. Out of the limelight, the Wolves provided commando training and material support for the East Turkestan Independence Movement. In essence, NATO’s stay-behind networks had become NATO’s “go-abroad” networks, projecting the same sort of violence, terrorism, and political coercion abroad after the Cold War that these networks carried out domestically during the Cold War.
  • The alleged “struggle” by the Uyghur people in Xinjiang, referred to by the terrorists and their foreign sponsors as “East Turkistan,” consists of two essential components – a foreign harbored political front including the Washington D.C. and Munich-based World Uyghur Congress (WUC) and a militant front clearly backed by the US and NATO through intermediary groups like Turkey’s Grey Wolves. Like the Grey Wolves, the World Uyghur Congress is a creation and perpetuation of Western special interests. WUC is directly funded by the US State Department via the National Endowment for Democracy (NED) over a quarter of a million dollars (on record) a year. The NED admittedly organizes and underwrites all of WUC’s events, and their annual meetings usually feature almost exclusively US representatives reaffirming their commitment to support WUC’s objectives
  • Looking at a map of China it is clear that this campaign of separatism directly serves the long-standing plans of the United States to encircle and contain China’s rise – a campaign that has been openly and repeated outlined in US policy papers for decades – the most recent of which was published by the Council on Foreign Relations (CFR) and was titled, “Revising U.S. Grand Strategy Toward China.” It states in no uncertain terms: Because the American effort to ‘integrate’ China into the liberal international order has now generated new threats to U.S. primacy in Asia—and could result in a consequential challenge to American power globally—Washington needs a new grand strategy toward China that centers on balancing the rise of Chinese power rather than continuing to assist its ascendancy. Encouraging separatism in China’s western Xinjiang region, if successful, would carve off a substantial amount of territory. In conjunction with US-backed separatism in China’s Tibet region, an immense buffer region stands to be created that would virtually isolate China from Central Asia. And while the Grey Wolves and their Uyghur proxies are working hard to create this barrier to China’s west, with their involvement in a recent bombing in Bangkok, it appears the US is now using them to augment efforts to create a similar encirclement across Southeast Asia.
  • The Turkish-Uyghur terror network, in addition to fomenting violence across China, has more recently been trafficking terrorists from Xinjiang, through Southeast Asia, and onward to Turkey where they are staged, armed, trained, and then sent to fight NATO’s proxy war in Syria. This trafficking network apparently snaked its way through Thailand – exposed when Thailand detained over 100 Uyghurs which it then deported upon Beijing’s request back to China in July. On the same day the deportations occurred WUC and NATO’s Grey Wolves organized violent protests in Turkey both in Ankara and at the Thai consulate in Istanbul during which the consulate was invaded and destroyed. A month later, a devastating bomb would detonate in the heart of Bangkok, killing 20 mostly Chinese tourists and injuring over 100 more. In addition to the BBC already being on site before the blast, the British network would conclude even before bodies were cleared from the site that Uyghurs were likely behind the blast. This was done specifically to deflect blame from another US proxy, Thaksin Shinawatra, who has been attempting for years to regain power in Thailand. In reality, Shinawatra and the Uyghur terrorists are both functions of the same Westesrn agenda to encircle and contain China by building up a “wall” of proxy states around Beijing, and if nothing else, to create chaos in which Beijing finds it nearly impossible to prosper.
Gary Edwards

Bruce Krasting: The Fed bombed the market - I ask, "Why?" - 1 views

brucekrasting.blogspot.com/...d-bombed-market-i-ask-why.html

Banksters Zero-Hedge Collapse-Euro banksters

shared by Gary Edwards on 19 Aug 11 - No Cached
  • Gary Edwards on 19 Aug 11
     
    This is an interesting post.  The WSJ published an article yesterday claiming that the Federal Reserve Bankster Cartel was looking at European Banksters and assessing the quality of "funding positions" and asset status for their USA branch operations.  The Fed Banksters are also consulting with EU regulators about European Bankster concerns. The WSJ article (http://on.wsj.com/nugr7s) triggered a massive market crash on Thursday.  Over $2 Trillion was washed away in the panic following the publication of this WSJ story.  That's on top of the $6 Trillion lost following the Obama Debt-Man-Walking deal with Congress. But here's where it gets interesting.  Bruce Krasting contacted Zero Hedge's Tyler Durden and got this reply; "the story is a Fed plant". Tyler Durden believes that the Feds want to create a world economic crisis to justify a massive QE3 where tens of trillions of dollars would be created and distributed to the worlds Banksters.  This follows the $16.1 Trillion created and distributed to the world's Banksters in 2009 - 2010 under QE1 and QE2. Incredible.  Just a few days ago Republican presidential candidate Gov Rick Perry warned the Fed Banksters not to flood the market with a new QE3.  No doubt what Perry has in mind is that the Fed will flood the world's economy with dollars, debasing the currency even further, but providing a phony and very temporary veil of prosperity - just enough to get Obama into a second term.   Not a bad concept for the Banksters since Obam has proven himself time and again as the bes tfriend the Banksters have ever had.  Obama has overseen the transfer of over $23 Trillion of USA taxpayer debt to the world Bankster community.
Paul Merrell

BBC News - Farage: UKIP has 'momentum' and is targeting more victories - 0 views

www.bbc.com/...uk-politics-27567744

Auction-2014 UK UKIP EU

shared by Paul Merrell on 27 May 14 - No Cached
  • The UK Independence Party is a truly national force and has "momentum" behind it, Nigel Farage has said after its victory in the European elections. Hailing a "breakthrough" in Scotland and a strong showing in Wales, he said UKIP would target its first Westminster seat in next week's Newark by-election. Lib Dem leader Nick Clegg has said he will not resign after his party lost all but one of its 12 MEPs. He said he was not going to "walk away" from the job despite the poor results. Mr Farage has been celebrating his party's triumph in the European polls, the first time a party other than the Conservatives or Labour has won a national election for 100 years.
  • The UK Independence Party is a truly national force and has "momentum" behind it, Nigel Farage has said after its victory in the European elections. Hailing a "breakthrough" in Scotland and a strong showing in Wales, he said UKIP would target its first Westminster seat in next week's Newark by-election. Lib Dem leader Nick Clegg has said he will not resign after his party lost all but one of its 12 MEPs.
  • The UK Independence Party is a truly national force and has "momentum" behind it, Nigel Farage has said after its victory in the European elections. Hailing a "breakthrough" in Scotland and a strong showing in Wales, he said UKIP would target its first Westminster seat in next week's Newark by-election. Lib Dem leader Nick Clegg has said he will not resign after his party lost all but one of its 12 MEPs. He said he was not going to "walk away" from the job despite the poor results.
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  • UKIP won 27.5% of the vote and had 24 MEPs elected. Labour, on 25.4%, has narrowly beaten the Tories into third place while the Lib Dems lost all but one of their seats and came sixth behind the Greens. With Northern Ireland yet to declare its results, the election highlights so far have been: Far-right, anti-EU parties, including the Front National in France, made gains across Europe, as did anti-austerity groups from the left Labour has 20 MEPs so far, an increase of seven on 2009, which was a record low point for the party It topped the poll in Wales by a narrow margin from UKIP. The SNP won two seats in Scotland, where UKIP also won its first MEP
  • The Conservatives have so far secured 24% of the vote nationally and lost seven seats The Lib Dems slumped to fifth place The Green Party came fourth and has got three MEPs - one more than it achieved in 2009. BNP leader Nick Griffin lost his seat as the party was wiped out, the English Democrats also saw their vote share fall
  • Mr Farage has said his party intends to build on what he has described as "the most extraordinary result" in British politics in the past century.
  • Speaking in London at an election rally, he said his party now appealed to all social classes and had made significant inroads in Wales and Scotland as well as winning the most votes in England.
  • He said the party was aiming to win the Newark by-election next week, to try and "turn the heat" up on David Cameron. They would target a dozen or more seats in next year's general election, he added. "Our game is to get this right, to find the right candidates, and focus our resources on getting a good number of seats in Westminster next year. "If UKIP do hold the balance of power, then indeed there will be a (EU) referendum."
  • Mr Farage said Labour would come under "enormous pressure" to offer the voters a referendum on Europe, and he said he did not believe Nick Clegg would still be Lib Dem leader at the general election. "The three party leaders are like goldfish that have been tipped out of their bowl onto the floor and are gasping for air," he said.
  • Mr Clegg is facing calls to stand down after Sunday night's results, with MP John Pugh saying the "abysmal" performance meant the Lib Dem leader should make way for Vince Cable. But Mr Clegg said he had no intention of stepping down despite the "gut-wrenching" loss of most of the party's representatives in Brussels. "Of course it's right to have searching questions after such a bad set of results," he said. "But the easiest thing in politics when the going gets really really tough is to wash your hands of it and walk away, but I'm not going to do that and neither is my party."
  • Lib Dem Business Secretary Vince Cable added: "These were exceptionally disappointing results for the party. Many hard-working Liberal Democrats, who gave this fight everything they had and then lost their seats, are feeling frustrated and disheartened and we all understand that." Mr Clegg "deserves tremendous credit" for having been bold enough to stand up to "the Eurosceptic wave which has engulfed much of continental Europe", he said. The party had taken a "kicking for being in government with the Conservatives", but must now "hold its nerve", he said.
  • Reacting to his third place, David Cameron said the public was "disillusioned" with the EU and their message had been "received and understood", but he rejected calls to bring forward his proposed in/out EU referendum to 2016.
  • After UKIP's success, the Tory leadership is facing renewed calls for an electoral pact with their rivals to avoid a split in the right of British politics at next year's general election. Daniel Hannan, who was returned as a Tory MEP in the South East region, said it would be "sad" if the two parties "were not able to find some way, at least in marginal seats, of reaching an accommodation so that anti-referendum candidates don't get in with a minority of votes". But Mr Cameron said it was a "myth" that the two parties had a shared agenda. Labour was looking at one stage as if it might be beaten into third place by the Tories - a potentially disastrous result for Ed Miliband as he seeks to show he can win next year's general election. But the party was rescued by another strong showing in London - and it took heart from local election results in battleground seats, which party spokesmen suggested were a better guide to general election performance.
  • Mr Miliband said the party was "making progress" but had "further to go" if it was to prevail in next year's general election. He said the outcome of the elections was about more than Europe and his party must respond to a "desire for change" over a wide range of issues. BNP leader Nick Griffin lost his seat and saw his party's vote collapse by 6% in the North West of England. Anti-EU parties from the left and right have gained significant numbers of MEPs across all 28 member states in the wake of the eurozone crisis and severe financial squeeze. However, pro-EU parties will still hold the majority in parliament. Turnout across the EU is up slightly at 43.1%, according to estimates. Turnout in the UK was 33.8%, down slightly on last time.
  • In the European elections five years ago, the Conservatives got 27.7% of the total vote, ahead of UKIP on 16.5%, Labour on 15.7%, the Lib Dems on 13.7%, the Green Party on 8.6% and the BNP on 6.2%.
  • Eurosceptic 'earthquake' rocks EU Under pressure Clegg: I won't quit Miliband: Labour 'making progress' Cameron: We can still win in 2015 BNP wiped out in Euro elections UKIP looks to Westminster after win Calls for Clegg to quit 'ridiculous' Immigration target
  • Paul Merrell on 27 May 14
     
    UKIP sets the wheels to rocking on apple carts in the UK and EU, winning 24 of UK's 73 seats in the European Parliament and hundreds of seats in UK community governments, all at the expense of the front-running three parties in the UK's 2009 election.   Wikipedia: The UK Independence Party (UKIP) is a [hard] Eurosceptic, right-wing populist political party in the United Kingdom, founded in 1993. The party describes itself in its constitution as a "democratic, libertarian party." Now if we could just begin to see a NATO-sceptic party emerging across Europe ...  
Paul Merrell

2015 Will Be All About Iran, China and Russia / Sputnik International - 0 views

sputniknews.com/...1016436434.html

war & peace economic-warfare U.S.-foreign-policy Russia China Eurasia

shared by Paul Merrell on 03 Jan 15 - No Cached
  • Fasten your seatbelts; 2015 will be a whirlwind pitting China, Russia and Iran against what I have described as the Empire of Chaos.
  • So yes – it will be all about further moves towards the integration of Eurasia as the US is progressively squeezed out of Eurasia. We will see a complex geostrategic interplay progressively undermining the hegemony of the US dollar as a reserve currency and, most of all, the petrodollar. For all the immense challenges the Chinese face, all over Beijing it's easy to detect unmistakable signs of a self-assured, self-confident, fully emerged commercial superpower. President Xi Jinping and the current leadership will keep investing heavily in the urbanization drive and the fight against corruption, including at the highest levels of the Chinese Communist Party (CCP). Internationally, the Chinese will accelerate their overwhelming push for new 'Silk Roads' – both overland and maritime – which will underpin the long-term Chinese master strategy of unifying Eurasia with trade and commerce.
  • Global oil prices are bound to remain low. All bets are off on whether a nuclear deal will be reached by this summer between Iran and the P5+1. If sanctions (actually economic war) against Iran remain and continue to seriously hurt its economy, Tehran’s reaction will be firm, and will include even more integration with Asia, not the West.
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  • Now let’s take a look at Russian fundamentals. Russia’s government debt totals only 13.4% of its GDP. Its budget deficit in relation to GDP is only 0.5%.  If we assume a US GDP of $16.8 trillion (the figure for 2013), the US budget deficit totals 4% of GDP, versus 0.5% for Russia. The Fed is essentially a private corporation owned by regional US private banks, although it passes itself off as a state institution. US publicly held debt is equal to a whopping 74% of GDP in fiscal year 2014. Russia’s is only 13.4%. The declaration of economic war by the US and EU on Russia – via the run on the ruble and the oil derivative attack – was essentially a derivatives racket. Derivatives – in theory – may be multiplied to infinity. Derivative operators attacked both the ruble and oil prices in order to destroy the Russian economy. The problem is, the Russian economy is more soundly financed than America's.
  • Considering that this swift move was conceived as a checkmate, Moscow’s defensive strategy was not that bad. On the key energy front, the problem remains the West’s – not Russia’s. If the EU does not buy what Gazprom has to offer, it will collapse. Moscow’s key mistake was to allow Russia's domestic industry to be financed by external, dollar-denominated debt. Talk about a monster debt trap  which can be easily manipulated by the West. The first step for Moscow should be to closely supervise its banks. Russian companies should borrow domestically and move to sell their assets abroad. Moscow should also consider implementing a system of currency controls so the basic interest rate can be brought down quickly. And don’t forget that Russia can always deploy a moratorium on debt and interest, affecting over $600 billion. That would shake the entire world's banking system to the core. Talk about an undisguised “message” forcing the US/EU economic warfare to dissolve.
  • Russia does not need to import any raw materials. Russia can easily reverse-engineer virtually any imported technology if it needs to. Most of all, Russia can generate — from the sale of raw materials – enough credit in US dollars or euros. Russia's sale of its energy wealth — or sophisticated military gear — may decline. However, they will bring in the same amount of rubles — as the ruble has also declined.  Replacing imports with domestic Russian manufacturing makes total sense. There will be an inevitable “adjustment” phase – but that won’t take long. German car manufacturers, for instance, can no longer sell their cars in Russia due to the ruble's decline. This means they will have to relocate their factories to Russia. If they don’t, Asia – from South Korea to China — will blow them out of the market.
  • The EU's declaration of economic war against Russia makes no sense whatsoever. Russia controls, directly or indirectly, most of the oil and natural gas between Russia and China: roughly 25% of the world's supply. The Middle East is bound to remain a mess. Africa is unstable. The EU is doing everything it can to cut itself off from its most stable supply of hydrocarbons, prompting Moscow to redirect energy to China and the rest of Asia. What a gift for Beijing – as it minimizes the alarm about the US Navy playing with "containment" across the high seas.  Still, an unspoken axiom in Beijing is that the Chinese remain extremely worried about an Empire of Chaos losing more and more control, and dictating the stormy terms of the relationship between the EU and Russia. The bottom line is that Beijing would never allow itself to be in a position where the US could interfere with China's energy imports – as was the case with Japan in July 1941 when the US declared war by imposing an oil embargo, cutting off 92% of Japanese oil imports. Everyone knows a key plank of China’s spectacular surge in industrial power was the requirement for manufacturers to produce in China. If Russia did the same, its economy would be growing at a rate of over 5% per year in no time. It could grow even more if bank credit was tied only to productive investment.
  • Now imagine Russia and China jointly investing in a new gold, oil and natural resource-backed monetary union as a crucial alternative to the failed debt "democracy" model pushed by the Masters of the Universe on Wall Street, the Western central bank cartel, and neoliberal politicians. They would be showing the Global South that financing prosperity and improved standards of living by saddling future generations with debt was never meant to work in the first place. Until then, a storm will be threatening our very lives – today and tomorrow. The Masters of the Universe/Washington combo won’t give up their strategy to make Russia a pariah state cut off from trade, the transfer of funds, banking and Western credit markets and thus prone to regime change. Further on down the road, if all goes according to plan, their target will be (who else) China. And Beijing knows it. Meanwhile, expect a few bombshells to shake the EU to its foundations. Time may be running out – but for the EU, not Russia. Still, the overall trend won’t be altered; the Empire of Chaos is slowly but surely being squeezed out of Eurasia.
Paul Merrell

Fallout from Obama's Russia Strategy Is Spreading through Europe - Yahoo Finance - 0 views

finance.yahoo.com/...ategy-spreading-110000192.html

war & peace economic-warfare Russia U.S.-foreign-policy blowback EU

shared by Paul Merrell on 25 Dec 14 - No Cached
  • The Obama administration’s sanctions against Russia, reluctantly supported by the Europeans, bite more deeply every day. But it is also clearer with each daily news report that Russians are not going to suffer alone.
  • The Obama administration’s sanctions against Russia, reluctantly supported by the Europeans, bite more deeply every day. But it is also clearer with each daily news report that Russians are not going to suffer alone.
  • Russia’s immediate neighbors and the Europeans will, too. And—not to be missed—so will the trans-Atlantic alliance that has served as the backbone of Western policy since the postwar order was established 70 years ago next spring.This president is intent on making history. But does he distinguish between good history and the other kind?
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  • It’ll be the other kind if the European Union swoons into another recession as a consequence of America’s geopolitical ambitions to Europe’s east. Emphatically it’ll be the other kind if Obama hastens a drift in Washington’s ties to the European capitals that have been faintly discernible, if papered over, for decades.     Let’s look at this from all angles.
  • On Friday the Polish zloty hit a 15-month low against the euro—straight-ahead fallout from Russia’s crisis. Among the CIS nations, Belarus just doubled interest rates, to 50 percent, and imposed a 30 percent tax on forex transactions.Kyrgyzstan is closing private currency exchanges, and Armenia is letting the dram, its currency, collapse—17 percent in the past month—in a policy it calls “hyper-devaluation.” Further afield, the Indian rupee, the South African rand, and the Turkish lira are among the emerging-market currencies taking hits from the ruble crisis.Flipping these eggs over, Switzerland just imposed negative interest rates to discourage a stampede of weak-currency holders from piling into the franc in search of a safe haven.
  • What happened as E.U. ministers and heads of state convened in Brussels last week can come as no surprise.On one hand, German Chancellor Angela Merkel and British Prime Minister David Cameron insisted that Europeans must “stay the course” on Russia. Just before the Brussels summit, the E.U. barred investments in Crimea—a gesture more than anything else, but one with clear intent. On the other hand, deep divisions are now on the surface. Italian Prime Minister Matteo Renzi declared “absolutely no” to more sanctions, and François Hollande seemed to say no to the sanctions already in place. Noting signs of progress on Ukraine, the French president said, “If gestures are sent by Russia, as we expect, there would be no reason to impose new sanctions, but on the contrary to look at how we could bring about a de-escalation from our side.”Danish Foreign Minister Martin Lidegaard asserted that the sanctions already in place may be hitting too hard. We want to modulate Russia’s behavior, he said in an especially astute distinction, not destroy Russia’s economy.
  • In short, two serious fissures are emerging as the hard line against Russia advances. One, the E.U. is plainly getting fractious. Reflecting the rainbow of political tendencies among their leaders, Europeans may have reached their limit in acquiescing in the Obama administration’s tough-and-getting-tougher policies. Note, in this context: Europe has nothing like the fiscal and monetary wherewithal it had six years ago to withstand another bout of financial and economic contagion. Two, Obama appears ever closer to overplaying America’s hand with the Europeans. Tensions between Washington and Europe have simmered just out of sight since the Cold War decades. There are significant signs now that Obama has let the Ukraine crisis worsen them to the point the tenor of trans-Atlantic ties is permanently modulated. If this goes any further it will be very big indeed. 
  • Question: Do President Obama’s big-think people at State and the Treasury know the magnitude of the game they’re playing? This is the issue the economic fallout of sanctions and the new shifts in Europe raise. Follow-on query, not pleasant to ask but it must be put: Does Obama have any big thinkers in either department? As the consequences of this administration’s Russia policy unfurl, they appear to travel on a wing and a prayer—“making it up as they go along,” as a friend and Foreign Service refugee said over lunch the other day.
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