- Interview with Nurit Kedar the film maker of Israeli IDF soldiers who tell Channel 4 News (UK) they were ordered to “cleanse” Palestinian neighbourhoods, as filmmaker Nurit Kedar says “the atmosphere was that nobody should talk about this war”.
Exclusive: Israeli soldiers tell Channel 4 News they were ordered to “cleanse” Palestinian neighbourhoods, as filmmaker Nurit Kedar says “the atmosphere was that nobody should talk about this war”.
They were told:
“ENTRY WOULD BE DIS-PROPORTIONATE”
The orders were to:
“CLEANSE THE NEIGHBOURHOOD”
“Every house gets a shell, that was our job…”
“We were to shell the top and shell the bottom…”
“The moment the tank hit the second shell, we see processions of the family walk out with children, with babies, with white flag on a stick….”
“We entered the city in a big hullabaloo…”
“The squadron… with a laser marked clearly the houses that had to be shelled….”
Jim Grant: “The Fed Is Now In The Business Of Manipulating The Stock Market … Owes The World An Apology!”
If video does not work properly try ZeroHedge, Jim Grant: “The Fed Is Now In The Business Of Manipulating The Stock Market…Should Confess It Has Sinned Grievously”
- The current world monetary and financial system is dead. No amount of money printing can mask the fact that most major banks in the western world are bankrupt. You cannot solve an insolvency problem with massive injection of liquidity. Pumping blood to a heart that has stopped will not revive the dead. A global monetary crisis is brewing just over the horizon! The world will awaken to the fact that fiat currencies are a CONfidence Job! A new monetary order is coming and it will be backed by gold!
Russia Moving to Gold Standard?
With the value of the U.S. dollar exponentially declining since the establishment of the Federal Reserve Bank in 1913, it comes as no surprise that many world leaders and international economists have expressed their desire for a new world reserve currency. In light of the global financial crisis, Russia may be moving toward a sound economic solution — gold.On Monday, January 24, the First Deputy Chairman Georgy Luntovsky of the Central Bank of Russia (CBR), announced plans to purchase over 100 metric tons of gold every year — increasing the bank’s gold reserves by 13 percent in 2011.
Last year alone, the CBR expanded its gold holdings by 23.9 percent to 790 tons. Why the sudden increase? “The current set of reserve currencies and the main reserve currency — the U.S. dollar — have failed to function as they should,” Russian President Dmitry Medvedev told a Shanghai Cooperation Organization summit on June 16, 2009, adding that he would like to see the Russian ruble become a global reserve currency.
Medvedev’s desire for the ruble to be a global reserve currency, or part of a new economic world order, may not be the only reason for the sudden gold increase. With the signing of the Customs Union treaty last month, the leaders of Russia, Belarus, and Kazakhstan agreed to establish a free-trade zone among themselves with a common currency. The Customs Union — set go into effect on January 1, 2012 — has been regarded as the economic restoration of the Soviet Union.
A new gold ruble could serve as the basis for a common currency between the three old Soviet republics, much as the former Soviet ruble once was. Between 1924 and 1947, the fourth Soviet ruble was regarded as a gold ruble. During this period the State Bank of the Soviet Union minted gold coins and printed paper currency backed by gold, though individual Soviet citizens were barred from exchanging their paper rubles for gold — a policy emulated by President Franklin Roosevelt in his 1933 Executive Order 6102, which forbade U.S. citizens from “the hoarding of Gold Coin, Gold Bullion, and Gold Certificates.”
It would appear that Moscow is now taking a page from the past as it seeks to strengthen its monetary unit. The idea of a gold ruble as an anchor world currency was first brought up in 2009 by the Kremlin’s chief economic adviser, Arkady Dvorkevich, who declared that Russia would favor a new world reserve currency backed by gold. Discussing a new economic order, he stated, “We could also think about [a] more effective use of gold in this system.”
The last international arrangement to be based on gold was the Breton Woods system, which came into effect in the wake of World War II. With the British Empire in ruins, world leaders and international economists gathered in 1944 at Breton Woods, New Hampshire, where they made the decision to replace the British pound sterling with the U.S. dollar as the world reserve currency. The dollar was chosen because at that time it was believed to be “as good as gold” — an estimation far from true today.
Under the Breton Woods system, gold would be available only to foreign investors, not U.S. citizens. The partial gold-exchange standard, as it was unlike the pure gold standard of the 19th century and pre-World War I era, came to an end on August 5, 1971, when President Richard Nixon discontinued the U.S. dollar’s parity to gold, which in turn prohibited foreign investors from redeeming their U.S. dollars into gold.
Since then the world has relied on the purely fiat U.S. dollar as the world reserve currency, which economists in Russia and China have now realized can no longer sustain the global economy.
As the value of gold continues to rise throughout the world, it is evident that no new sound economic solution can be found for any country without that precious metal commodity. Even here in the United States, Representative Ron Paul (R-Texas) has been the loudest voice for a return to a domestic full gold standard, though his idea has as yet fallen on deaf ears.
A newly invigorated Russian ruble based on gold may just be the key for that country’s rise as an economic power, which could in turn tip the balance of power in favor of Moscow and its newly formed Customs Union. By means of capitalism and sound economics, Russia is moving itself out of the global recession. The question now is, what will the United States do next?
- This is stating the obvious. Countries all over the world are diversifying out of the USD. China is the big potato with foreign exchange holdings of US$2.8T and about US$1.5T of it is denominated in USD. China is quietly making the switch out of USD. It is also exerting pressure on the US government for concessions. China is no longer buying US treasuries the latest figures show.
- The industrialized world is going down the road of debt default and currency debasement. This is a planned collapse by the Illuminist ruling power. Out of the ensuing economic chaos, famine, social unrest and wars, the Illuminati want to introduce their Luciferian New World Order, Global Government, One World Currency and Supra-National Central Bank.
World Grows Jittery About American Debt
The U.S. received two stern warnings Thursday that it needs to get its fiscal house in order, and quickly. Moody’s, the credit rating agency, cautioned that it may need to downgrade its AAA-rating of U.S. debt sooner than expected, while the International Monetary Fund argued that America must tackle its mounting debt and confront thorny issues like entitlements if it wants to maintain its credibility in global markets. Moody’s AAA rating is its top designation, but the agency pointed out that the U.S. has the highest ratio of government debt to government revenue of any AAA-rated country.
The rebukes came a day after a congressional projection placed this year’s federal budget deficit at a post-World War II record of $1.5 trillion. It also came on the same day that another credit-rating agency, Standard & Poor’s, downgraded Japan’s bond rating from AA to AA- out of concern that the country isn’t making a credible effort to control its spiraling debt. During his State of the Union address, President Obama proposed deficit-reduction measures like freezing domestic spending, but critics accused him of skirting the painful spending cuts or tax increases needed to truly rein in the national debt. How seriously should we take the threats issued by Moody’s and the IMF?
- Moody’s Warning Could Spook Foreign Investors, notes Bloomberg’s Christine Richard: “The threat of a lower rating may cause international investors to avoid U.S. assets. About 50 percent of the almost $9 trillion of U.S. marketable debt is owned by investors outside the nation.”
- If Japan Was Downgraded, U.S. Could Be Next, maintains Time’s Michael Schuman: “Anything you can say about Japan you can say about the U.S.–and more. Unlike Japan, the U.S. is not a creditor nation, nor does the populace save enough. Despite talk of a more conservative approach to spending, the U.S. has no credible plan for reining in its deficits and debt.”
- U.S. Debt Will Be Downgraded, argues Douglas McIntyre at 24/7 Wall St: “The US is doomed to suffer a downgrade in its debt before its begins the hard work on restructuring Social Security, Medicare and Medicaid. A downgrade may not even be enough of a shock to bring Americans to their senses. They have paid for their entitlements and they believe they deserve them.”
- Downgrade Unlikely But Potentially Disastrous, explains The Washington Post’s Howard Schneider. The U.S. still has the world’s largest economy and reserve currency, Schneider reminds us. Yet, “however unlikely, a downgrade in U.S. debt or loss of confidence in the government’s ability to repay its creditors could touch off a catastrophic series of events–from a shutdown of global trade finance and credit to the collapse of banks and governments that hold large amounts of U.S. debt and depend on the flow of money through and from the United States to stay afloat.”
- Nobody Pays Attention to Rating Agencies, counters Business Insider’s Joe Weisenthal. He notes that the yen dropped after S&P’s downgrade of Japan but 10-year Japanese government bonds hardly budged. “There’s no evidence that the ratings agencies really understand sovereign debt dynamics,” he says, “and the market understands this regarding the US, too, which is why despite endless squawking about the US FISCAL TRAINWRECK, nothing really happens.”
- Can the U.S. Get Its Act Together? wonders John McDermott at The Financial Times. Moody’s wants the U.S. to reduce its budget deficits, reform entitlements, and grow its economy over the next three years, “during which the two political parties will have to come together and arrive at a credible compromise that will involve painful concessions for each–and with a presidential campaign scheduled right smack in the middle.”
- The Eurozone is mired in economic depression. So is the US. The delusional happy talk over Wall Street is not going to change this fact!
UK: Retailers cut equivalent of 10,000 jobs last month
Stores reduced working hours and refused to offer overtime during busy Christmas period, reducing staff levels by 1.5% on 2009
Store bosses cut the equivalent of more than 10,000 full-time jobs in December as they reduced staff working hours and neglected to offer overtime during the industry’s busiest month of the year.
The number of hours worked by retail employees was 1.5% lower in December compared with the same month of 2009, according to the BRC-Bond Pearce Retail Employment Monitor. The authoritative survey, whose respondents speak for 50% of the sector’s turnover, also reported a “noticeable weakening in sentiment” over the last 12 months. It said one in three retailers planned to cut jobs by April compared with 13% a year ago.
“December was a difficult trading month for some retailers,” said the BRC’s director general, Stephen Robertson, who said the 1.5% fall in hours worked was equivalent to the loss of about 10,300 full-time jobs. “Overall, employment growth faltered because stores were less busy, so there were fewer working hours than the previous year.”
Spain’s jobless rate surges to 20.33%
MADRID (AFP) – Spain announced Friday its jobless rate surged to a 13-year record above 20 percent at the end of 2010, the highest level in the industrialized world, as the economy struggled for air. It was more bad news for an economy fighting to regain the trust of financial markets and avoid being trapped in a debt quagmire that has engulfed Greece and Ireland and now menaces Portugal.
Another 121,900 people joined Spain’s unemployment queues in the final quarter of the year, pushing the total to 4.697 million people, said the national statistics institute INE. The resulting unemployment rate was 20.33 percent for the end of the year — easily exceeding Prime Minister Jose Luis Rodriguez Zapatero’s target of 19.4 percent. Spain appears to be stuck in a rut of staggeringly high levels of unemployment.
- Egypt: U.S. Puppet Regime On Verge of Collapse
In an interview with NPR, Joe Biden stumbles his way through soft ball questions about Egypt and the dictator Hosni Mubarak, who Biden identifies as a personal friend. In the process, Biden reveals the U.S. attitude toward dictators and client states.
“Mubarak has been an ally of ours in a number of things,” said Biden. “And he’s been very responsible on, relative to geopolitical interest in the region, the Middle East peace efforts; the actions Egypt has taken relative to normalizing relationship with — with Israel. … I would not refer to him as a dictator.”
Remarkably, Biden is considered the go-to man in the Obama administration on foreign policy. “The vice president has been famously and consistently called a foreign policy expert by the Washington establishment,” writes Richard Grenell. “In fact, President Obama admitted during his campaign for president that he relied on Biden’s foreign policy advice while both men were in the Senate.”
Mubarak’s knuckle-dragging dictatorship is so crucial to the foreign policy of the United States, it is the number two recipient of money (it receives around $2 billion per year). Only Israel receives more. “Egypt under Mubarak uses its billions in U.S. military aid to detain, beat and torture dissenters, opposition politicians and journalists; many have died in custody,” writes Mark Zepezauer. “Thousands of political prisoners and pro-democracy activists are held in overcrowded, disease-ridden prisons, without charges or trials. Press restrictions, including newspaper shutdowns, are widespread.”
“Nobody in Egypt will be imprisoned again for their opinions,” Egyptian press syndicate chairman Galal Aref declared in 2004. But in April of that year Ibrahim Eissa, editor of the independent weekly Al Dustour, and his colleague Sahar Zaki were sentenced to one year in prison for an article that described a lawsuit against Mubarak and his family. The lawyer who filed the lawsuit, Saied Abdallah, received an identical sentence and was fined.
This sort of behavior is not the exception but the rule. Egypt has faced repeated criticism from human rights activists and others for decades. Biden told NPR the U.S. government encourages Egypt to embrace democracy, but this is at best a sick joke.