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Socio-Economics & History Commentary

Financial Earthquake: Italy 10yr Bond Yield Soars Above 7.4%! Barclays Says Italy Is Finished: “Mathematically Beyond Point Of No Return”!

Italian 10yr govt bond yield soars above 7.4%!

  • Major financial earthquake is happening now. Italian 10 year government bond yield has soared from 6.7x% to 7.4x%. Stock markets across Europe and S&P futures are tanking! This is one terrifying collapse of the Italian bond market! The game is up for the Eurozone. It will be interesting to see what rabbit the politician snakes can pull out of their asses to rescue Italy. Otherwise, the dominoes will start falling and will cascade across Europe!
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    Barclays Says Italy Is Finished: “Mathematically Beyond Point Of No Return”!
    by Tyler Durden, http://www.zerohedge.com/
    … already someone has done the math on what the events in the past several days reveal for Italy. That someone is Barcalys, the math is not pretty, and the conclusion is that “Italy is now mathematically beyond point of no return.” Summary from Barclays Capital inst sales:
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    1) At this point, it seems Italy is now mathematically beyond point of no return
    2) While reforms are necessary, in and of itself not be enough to prevent crisis
    3) Reason? Simple math–growth and austerity not enough to offset cost of debt
    4) On our ests, yields above 5.5% is inflection point where game is over
    5) The danger:high rates reinforce stability concerns, leading to higher rates
    6) and deeper conviction of a self sustaining credit event and eventual default
    7) We think decisions at eurozone summit is step forward but EFSF not adequate
    8.) Time has run out–policy reforms not sufficient to break neg mkt dynamics
    9) Investors do not have the patience to wait for austerity, growth to work
    10) And rate of change in negatives not enuff to offset slow drip of positives
    11) Conclusion: We think ECB needs to step up to the plate, print and buy bonds
    12) At the moment ECB remains unwilling to be lender last resort on scale needed
    13) But frankly will have hand forced by market given massive systemic risk
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    Hint:Not Good.Sell EUR, Buy Gold
    The broader referenced report can be found here.

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November 9, 2011 Posted by | Economics | , , , , , , , | 1 Comment

Jim Rogers: 100% Chance of Crisis Worse Than 2008! Bernanke Has Been a Total Disaster!

November 9, 2011 Posted by | Economics | , , , , , , , | Comments Off

Chuck Missler: Alien Encounters – The Truth Behind The UFO Phenomena!

Today, America would be outraged if U.N. troops entered Los Angeles to restore order (referring to the 1991 LA Riot). Tomorrow they will be grateful! This is especially true if they were told that there were an outside threat from beyond (i.e., an extraterrestrial invasion), whether real or promulgated, that threatened our very existence. It is then that all peoples of the world will plead to deliver them from this evil. The one thing every man fears is the unknown. When presented with this scenario, individual rights will be willingly relinquished for the guarantee of their well-being granted to them by the World Government. - Dr. Henry Kissinger, Bilderberger Conference, Evians, France, 1991

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November 9, 2011 Posted by | EndTimes, Social Trends | , , , , , , , | Comments Off

Bob Chapman: The Whole Banking Structure is Coming Down!

  • Bob Chapman - Radio Liberty 3rd Hour – November 07, 2011 : The whole banking structure is coming down , people are going to lose most of what they got , half of the people in the world are going to get killed in the coming world war when it happens , the Greeks are naive , they should leave the Euro so that they could be able to compete ….

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November 9, 2011 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , , , , | Comments Off

American Economy Deliberately Allowed to Fail?

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November 9, 2011 Posted by | Economics, Social Trends | , , , , , , , , , , , | Comments Off

Pepe Escobar: Iran Would be an Excellent New Field for Predatory Capitalism!

  • THE THIRD TEMPLE’S HOLY OF HOLIES: ISRAEL’S NUCLEAR WEAPONS
    by Warner D. Farr, LTC, U.S. Army, http://www.au.af.mil/
    … Israel’s involvement with nuclear technology starts at the founding of the state in 1948. Many talented Jewish scientists immigrated to Palestine during the thirties and forties, in particular, Ernst David Bergmann.  … He pointed out that there was just one nuclear energy, not two, suggesting nuclear weapons were part of the plan.4
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    Regardless of the true types and numbers (see Appendix A) of Israeli nuclear weapons, they have developed a sophisticated system, by myriad methods, and are a nuclear power to be reckoned with.  … Current Israeli President Ezer Weizman has stated “the nuclear issue is gaining momentum [and the] next war will not be conventional.148

1997: > 400 deliverable thermonuclear and nuclear weapons!

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November 9, 2011 Posted by | GeoPolitics | , , , , , , , , , | Comments Off

War Hawks Anticipate War With Iran!

November 9, 2011 Posted by | GeoPolitics | , , , , , , | Comments Off

Euro is a Greek Word !

November 9, 2011 Posted by | Economics | , , , , , , , , | Comments Off

Ground Invasion of Iran Would Make Iraq Look Pretty!

  • 2 nuclear states: America and Zionist ’666′ Israel are threatening to attack Iran over dubious intel. America is the only country to have used nuclear bombs against others. Both America and Israel are actively using Depleted Uranium rounds in illegal wars of aggression. Who is the aggressor here? Obviously, the Anglo-American-Zionist axis.

Revelation 2:9 - .... and I know the blasphemy of those who say they are Jews and are not, but are a synagogue of Satan.

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November 9, 2011 Posted by | GeoPolitics | , , , , , , | Comments Off

Irrational Israel: Iran Has NO Bomb, Poses NO Threat !

Revelation 2:9 – …. and I know the blasphemy of those who say they are Jews and are not, but are a synagogue of Satan.

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November 9, 2011 Posted by | EndTimes, GeoPolitics | , , , , , , , , , , , | 2 Comments

ECB Stymied on Debt Crisis Without Fiscal Union!

Satanic doctrine teaches that, ultimately, the New World Order can be established in society only after a time of planned, great world turbulence and chaotic disorder. It is this very concept- “order out of chaos”- which is at the foundation of all Masonic doctrine. Significantly, Masonic initiates elevated to the 33 degree are given a “jewel” to wear proudly. This jewel is decorated with the sign of three, interlocked triangles, representing both the unholy trinity and the number 666. The jewel is also inscribed with the Latin inscription “Ordo Ab Chao,” interpreted as “Order Out of Chaos.” - Circle Of Intrigue, Page 94, Texe Marrs

  • “Let me control a peoples currency and I care not who makes their laws.” – Meyer Nathaniel Rothschild in a speech to a gathering of world bankers February 12, 1912. The following year, the USA subscribed to the ‘services’ of the newly incorporated Federal Reserve, headed by Mr. Rothschild
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    “He who controls the money supply of a nation controls the nation.”- James A. Garfield 
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  • The financial MSM is but a mouthpiece for the Illuminist banksters. It is always via subtlety and deception, they promote their true agenda. Illuminist banksters create the crisis and having gotten a reaction from the sheeple, they are subtlety selling their pre-planned solution! “What the Eurozone need is a fiscal union!” ie. a United States of Europe ruled by an Illuminist central bank! The ‘fiscal union’ talk is but a code phrase for the full takeover by Illuminist banksters of the Eurozone! “Give it to us or things will get worse!”
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  • Note that the Germans are the major obstacle to the Illuminist wet dream! The Germans are better off without the Euro and EU parliament!
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    ECB stymied on debt crisis without fiscal union
    By http://www.telegraph.co.uk/
    Germany’s top banker has vehemently rejected demands from David Cameron and other world leaders for drastic action by the European Central Bank to stop the eurozone crisis spiralling out of control.
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    Jens Weidmann, head of the Bundesbank and the ECB’s dominant governor, said that any move to leverage Europe’s €440bn rescue fund through central bank financing would be a “clear violation” of the ECB’s legal mandate. He said Article 123 of the EU Treaty imposed a legal “prohibition on monetary financing”, implying that the ECB cannot attempt to shore up the debt markets of Italy and Spain for covert fiscal support.
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    Mr Weidmann said Germany learned the bitter lesson under the Weimar Republic that funding public debt “via the money printing press” leads to hyperinflation and disaster.
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    The comments came a day after Britain’s Prime Minister said it was “difficult to understand” why the ECB was not “doing more” to halt contagion, a view shared in Washington, Beijing and Tokyo.
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    Asia’s creditor states are scornful of requests to help rescue Europe when the ECB itself refuses to take on the role of lender of last resort. However, there is some dispute over whether the ECB is technically able to take on that role even if it dares bend the law any further. “The ECB is not indemnified by a eurozone treasury, because there is no such treasury,” said Julian Callow from Barclays Capital.
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    The Bank of England and the US Federal Reserve have explicit guarantees from national treasuries that any losses stemming from bond purchases will be compensated, giving them the “credibility halo” of sovereign states. The picture is entirely different in Euroland where the ECB has very little money of its own and shares key powers with the national central banks. There is no fiscal union to back up monetary union, and no sovereign entity underpinning the project. There is instead a Babel of conflicting sovereign voices.
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    … for more click here!

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November 9, 2011 Posted by | Economics | , , , , , , , , , | Comments Off

Once Greece Goes, The Whole Euro Project Will Unravel !

RIP: Rest In Pieces

  • Greece by itself will not bring down the Eurozone. It is the contagion effect that everyone fears. The endgame of the Illuminati is a New Monetary-Financial System and Luciferian New World Order. To persuade the sheeple to adopt/accept their One World Currency, they intend to crash the current monetary order. If all the sheeple are rich, well fed and fully employed it is unlikely they will surrender their national sovereignties in favour of this coming New World Order.
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  • The Germans pose the most resistance, at the moment, to a new monetary order. The Germans will not accept the dismemberment of their country and economic sovereignty in favour of a One World Currency. The Illuminists, therefore, will burden Germany (and France) with an insurmountable mountain of debts to break their resistance! The bailouts (a misnomer, it is actually more debts at exorbitant interest rates) are largely financed by France and Germany. When the entire Eurozone system comes down, Germany and France will be in dire straits like Greece! (emphasis mine)
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    ZeroHedge: Former Bundesbank President Weber Warns Germany Will Be On The European Bail Out Hook For Up To 314% Of Its GDP
    … As quoted by Bloomberg, “Former Bundesbank President Axel Weber said the plan to leverage the European Financial Stability Facility increases the likelihood that tax payers have to step in, Sueddeutsche Zeitung reported. Germany’s public debt would rise to 135 percent of gross domestic product if Italy and Spain were to tap the EFSF financial backstop, the newspaper cited Weber as saying in a speech in Frankfurt. As the sole guarantor to the EFSF, Germany could end up with a debt of 314 percent of GDP in an extreme case, Weber said.”
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    Once Greece goes, the whole euro project will unravel !
    By http://www.telegraph.co.uk/
    Robert Jenkins, a member of the Bank of England’s Financial Policy Committee, does a good job in setting out the potentially disastrous economic and financial consequences for Greece and the wider European Union if Greece is allowed to default via exiting the eurozone in this morning’s FT (£).
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    That possibility was admitted for the first time by eurozone leaders at the Cannes summit last week. Obey or leave the club was their message. But, as Mr Jenkins explains, the consequences, not just for Greece but everyone else in the eurozone, would be potentially catastrophic. Once Greece goes, the other PIGS would sit there like ducks in a row, waiting to be picked off one by one, or perhaps all in one go.
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    However, there are two problems with the implication of his analysis, which is that Greece must be restructured within the single currency, since the economic consequences for all of it exiting are too awful to contemplate.
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    One is that the realpolitik of the eurozone is preventing the application of sensible policy to ease the plight of the periphery and allow the resumption of reasonable economic growth. It cannot be right to accept inappropriate economic policy simply because you fear the alternative might be even worse.
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    The other, related, criticism is that though the short term consequences of a break-up may be extraordinarily traumatic, the long term costs of staying together look pretty unappetising too.
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    Far from promoting growth and political solidarity, which is what the single currency was supposed to do, the euro is in fact achieving the opposite effect, by condemning the eurozone to long term recession and now extreme political infighting. Again, it cannot be right to persist with something which is achieving the opposite of what it was meant to simply because the alternatives are thought to be worse.
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    By suggesting that there will be no support for Italian bond markets until Italy reforms itself, the European Central Bank is playing god in a way which is almost certain to end badly. Whatever Silvio Berlusconi’s faults, which are undoubtedly many, since when was it thought acceptable for the central bank to effectively decide on what the government in Italy should be?
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    The now repeated imposition of supra-national policy by an unelected elite on the citizens of the eurozone has got to be ultimately unusustainable. The dangers of extreme populist backlash followed in short order by Balkanisation are all too obvious. If the euro goes, so does the European Union, Angela Merkel keeps saying. Actually, it is the other way around. Persistence with the euro is straining the whole EU to breaking point.

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November 9, 2011 Posted by | Economics | , , , , , , , , , , , , | Comments Off

Tough-Talking Germany Takes The Eurozone To The Brink of a Break-Up!

  • Sarkozy and Merkel and both Illuminist puppets. They will do as they are told or will be disposed of. The ECB do not have a mandate to print money, so they need to get the bailout funds from the 17 member Eurozone states. This also means that the longer the crisis drags on, the more funds will be needed and the more debts will be placed on the shoulders of France and Germany (the 2 largest contributors). Merkozy may talk tough but in reality they are screwing their own countries by continuing with this bailout charade. You cannot solve a debt problem with more debts!
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    Tough-talking Germany takes the eurozone to the brink of a break-up!
    By  http://www.telegraph.co.uk/
    I ended last Sunday’s column by predicting that the latest eurozone bail-out   would unravel within two weeks. Amid the post-deal euphoria, this statement   raised a few eyebrows.
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    As it turned out, though, far from being alarmist, I was actually too optimistic. Within three days, the much-trumpeted Franco-German “complete strategy” solution, having previously caused share prices to surge, collapsed in a heap. No one should be surprised. The failure of last weekend’s agreement was inevitable – not least because there was no agreement.
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    The “50pc haircut” that private sector holders of Greek sovereign bonds “voluntarily accepted” was a myth. There was no resolution in terms of coupons, maturities or participation ratios – as was clear to anyone who looked beyond the headlines. Presented as a victory for courageous politicians over nasty bankers, the Greek bond-holders’ deal, the centre-piece of last weekend’s entire rescue-plan, has been exposed as a tawdry publicity stunt.
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    Precisely from whom the newly “leveraged” European Financial Stability   Facility will be able to raise borrowed funds, and on whose collateral, was also clouded in mystery last weekend, and still is. The possibility of China stumping up cash now looks even less likely than before. Around a fifth of the country’s massive $3,200bn (£1,997bn) reserve pool is already euro-denominated and Beijing’s earlier disastrous investments in various Wall Street banks attracted bitter internal criticism. Klaus Regling, the chief of the eurozone’s new bail-out fund, was received courteously enough in the Chinese capital last week. But it was always doubtful that a country with no welfare state would rescue nations whose welfare states are bloated and out of control.
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    The major reason that this latest single currency bail-out has failed, though, is that Germany is still not on board. The initial positive market reaction was based on the notion that a eurozone-wide guarantee of bank bonds and sovereign debts had been secured. That’s what was being claimed by stock-brokers and the other sell-side hired-gun experts who dominate the airwaves.
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    … for more click here!

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November 9, 2011 Posted by | Economics | , , , , , , , , | Comments Off

Italy Borrowing Rates Hit Record After Budget Vote!

  • Italian 10yr government bond yield have skyrocketed in the past week. It easily surged past 6.00%, the critical level where Greece, Portugal … yields surged higher. It looks like 10yr yields will hit 7.00% within a week. Alot of people are of the opinion that at 7.00% it is game over for Italy.
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  • Did all the bond buying by the ECB helped? Obviously not. Their recent threats have made things worse! (ECB Issues Ultimatum To Italy, Threatens To Halt Bond Purchases). The objectives of the Illuminists are not to make things better. They want to build an even greater debt mountain and lay it on the sheeple. They want France and Germany to go bust. They want things to get so out of hand that the sheeple will beg for a savior to save them. Things will get so bad that the sheeple will beg for their One World Currency. Order Out of Chaos!
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    Italy borrowing rates hit record after budget vote!
    by http://www.bbc.co.uk/news/
    Italy’s cost of borrowing has risen to a new record, after Prime Minister Silvio Berlusconi only managed to win a budget vote because the opposition abstained. The yield on Italian 10-year government bonds rose to 6.77%, the highest since the euro was founded in 1999.
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    Investors fear that the eurozone’s third-biggest economy could become the  next victim of the debt crisis. Later, Mr Berlusconi confirmed that he plans to resign after passing reforms. He won the budget vote, receiving 308 votes out of 630, with 321 abstentions and no votes against.
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    “The government no longer has a majority in this chamber,” Pier Luigi Bersani, the leader of the main opposition party, said after the vote. To Mr Berlusconi, he added: “Hand in your resignation.”
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    The euro rose against the dollar following the announcement of Mr Berlusconi’s plans to resign, up 0.5% to $1.384. Italy’s benchmark 10-year debt has been rising sharply and the yield is now past the point that forced other eurozone countries to seek a bailout. Short-term borrowing costs have been rising at an even faster rate. Italy has to roll over more than 360bn euros (£309bn) of debt in 2012. The country’s cost of borrowing is much higher than the 1.8% interest rate currently faced by Germany.
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    … for more click here!

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November 9, 2011 Posted by | Economics | , , , , , , , | Comments Off

Deutsche Bank on Europe: ‘It’s Not Inconceivable That We Could Be In Full Crisis Mode By The End Of This Week’!

  • The Eurozone sovereign debt crisis is far from over. It appears the Illuminists are not ready to pull the plug yet. Perhaps 2Q2012? They are trying to bail out everybody ie. create even more debts and lay in on the sheeple. It is a foregone conclusion that the PIIGS will go under. So, I believe the Illuminists are really trying to bankrupt the 2 lynchpins of the Eurozone: France and Germany! Both countries will go bust undoubtedly.
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    Deutsche Bank on Europe: ‘It’s Not Inconceivable That We Could Be In Full  Crisis Mode By The End Of This Week’
    by Joe Weisenthal, http://www.businessinsider.com/
    Such is the severity of the situation in Italy. Here’s Deutsche Bank’s Colin Tan talking about the same thing that everyone else is talking about:
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    It’s not inconceivable that we could be in full crisis mode by the end of this week. The situation with Italy feels increasingly like one that has little chance of materially improving until some extreme pressure is put on someone to act. It may not come to a head this week but the signs are not good that we can avoid an extreme situation emerging soon.
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    The big problem: Berlusconi doesn’t seem like he’s in an urgent mood to make  reforms, the ECB isn’t doing much, and China and Brazil have dropped out of the  picture. Hence we could get a big bustup:
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    For us there is no obvious near-term solution  other than a stress event which prompts action. Maybe the EU authorities  will use the experience learnt from the Greece situation last week that a  hard-line response is the only way to force countries to act in the way they  want. It is a big risk but at the moment the weaker countries seem to still  want the Euro enough that the ECB and Germans could play hard ball and get  what they want if they are prepared to take the risk. Indeed ECB Governing  Council member Yves Mersch fired a warning over the weekend saying that the ECB often discusses the possibility of ending the purchase of Italian government bonds and could if it concludes Italy is not adopting promised reforms. Such talk will not encourage private capital into Italy meaning that the ECB may need to intervene more to have the required  impact. 

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November 9, 2011 Posted by | Economics | , , , , , , , , | 2 Comments

   

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