Webster Tarpley: Russia will Respond To a Possible US-Led War on Syria!
- “All wars are based on deception!” – Sun Tzu, The Art of War
- Russia will respond to a possible US-led war on Syria: Analyst!
by http://www.presstv.ir/
A renowned US historian says Russia will respond to a war on Syria as anti-Syrian propaganda by Israeli, NATO and US officials suggesting a possible military intervention in the Arab country is escalating, Press TV reports.
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In an exclusive interview with Press TV, Dr. Webster Griffin Tarpley pointed to comments made by the US Department of State’s spokesperson, Victoria Nuland, and the NATO chief, Andres Fogh Rasmussen, who compared Syria to Bosnia, with “the obvious implication that NATO may do a unilateral, outside of the UN Security Council, bombing attack.”
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“The response to that came quite quickly,” Tarpley noticed, citing Russian media reports, saying Russian President Vladimir Putin has reacted to the remarks by ordering two Russian divisions, a paratroopers division and an infantry division, plus Spetsnaz Brigades who are based in Tartus, Syria, to prepare for a possible confrontation.
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“At any time, the sovereign government of Syria could obviously invite these Russian forces to come in and this would not be a violation of anybody’s international law,” he explained.
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Meanwhile, the historian said, Tel Aviv is using such grounds as possible use of “chemical weapons against men, women, and children” by the Syrian government as pretext to justify a possible military assault on Syria even if it means triggering a broader conflict across the region. According to Tarpley, a military operation in Syria will inevitably lead to the massacre of large numbers of Christians, who account for some 20 percent of the Syrian population.
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Wahhabi extremists from Saudi Arabia, who Tarpley said would be leading the war “with some kind of an internal coup,” will engage in the killing of the Alawite Shia Muslims and Christians.
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This is expected to spark a protest from the Vatican, but the White House has masterminded the so-called ‘Vatican Spring’ — the attack on the Vatican to suppress the response from the Holy See.
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Obama War Machine Announces Invasion of Syria!
- Daniel 7:23 (New King James Version)
23 “Thus he said:
‘The fourth beast shall be
A fourth kingdom on earth,
Which shall be different from all other kingdoms,
And shall devour the whole earth,
Trample it and break it in pieces.
- - Obama War Machine Announces Invasion of Syria!
by www.Infowars.com, June 14, 2012
CNN reports this afternoon that the Pentagon has finalized plans to attack Syria and forcefully depose its leader, Bashar al-Assad, under the cover of securing weapons of mass destruction and preventing “sectarian violence” it has fomented by supporting and training the Free Syrian Army.
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“The U.S. military has completed its own planning for how American troops would conduct a variety of operations against Syria, or to assist neighboring countries in the event action was ordered, officials tell CNN.”
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CNN says the Pentagon has “finalized its assessment of what types of units would be needed, how many troops, and even the cost of certain potential operations.”
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“There is a sense that if the sectarian violence in Syria grows, it could be worse than what we saw in Iraq,” an unnamed Obama administration official told CNN. The attack plan is similar to the one used against Libya:
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The military planning includes a scenario for a no-fly zone as well as protecting chemical and biological sites. Officials say all the scenarios would be difficult to enact and involve large numbers of U.S. troops and extended operations.
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CNN reveals that the United States, Britain and France have discussed the attack, which they describe as “contingency scenarios,” and have trained specifically for a military intervention. They are also “sharing of intelligence about what is happening in Syria with neighboring countries including Jordan, Turkey and Israel.”
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In December, Sibel Edmonds reported that “foreign military groups, estimated at hundreds of individuals,” had taken up positions in the city of al-Mafraq in northern Jordan on the Syrian border. The troops had arrived from the Ain al-Assad Air base in Iraq and a U.S. aircraft carrying military personnel landed in the Prince Hassan Air base located about 100 km to the east of the city of al-Mafraq.
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CNN quotes three Defense Department officials as stating that “U.S. special forces are training and advising Jordanian troops on a range of specific military tasks they might need to undertake if unrest in Syria spills over into Jordan or poses a threat to that country.”
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The officials said “Jordan’s major security concern is that if the Syrian regime were to suddenly collapse, then it would face unrest on its northern border, as well as the possibility of large refugee flows, weapons smuggling into Jordan, and potential disarray in Syria’s chemical and biological weapons complex. Jordan also is considering how and where to potentially set up humanitarian assistance bases inside its borders, another matter the U.S. is advising it on.”
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The pretext for the attack on Syria is eerily reminiscent of the elaborate and transparently bogus pretext used prior to the invasion of Iraq:
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Gordon Brown: France And Italy May Need a Bail-Out !
Aug-Oct 2012 ??
- The Eurozone is about to collapse triggering a global meltdown! It is not possible to bail out France and Italy. They are Too Big To Bailout (TBTB)! Any attempts to create a massive amount of money out of thin air to bail them out will result in a Euro collapse!
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Gordon Brown: France and Italy may need a bail-out!
By Robert Winnett, http://www.telegraph.co.uk/
World leaders must draw up a “concerted global action plan” to deal with the eurozone crisis at next week’s G20 summit as countries including Italy and France may need international assistance, Gordon Brown has warned.
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The former prime minister said that the “standard but often empty” plans usually agreed at such summits will “not do when the euro area is finally approaching its own day of reckoning”. He warned that the crisis threatened to spread and lead to Italy and even France requiring bail-outs.
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Mr Brown made the rare intervention amid mounting concern that the re-run of Greek elections tomorrow will lead to the country being forced out of the euro. If the Syriza party plays a key part in forming a new Greek government, its refusal to agree to cut spending is expected to lead to the country being ejected from the single currency. Fears are mounting that “contagion” could spread quickly to countries such as Portugal and Spain, which would need international financial assistance.
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There is growing speculation that central banks, including the Bank of England and American Federal Reserve, are on standby to inject billions of pounds into the global economy if necessary on Monday. Angela Merkel, the German chancellor, François Hollande, the French president, and other eurozone leaders are understood to have delayed leaving for the G20 summit in Mexico until Monday morning.
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Jim Willie: Ongoing Global Financial System Collapse, Bank Runs, Bank Holidays, Gold War, Alternative To SWIFT System …
Click on image to play the 13 June 2012 interview of Jim Willie by Turd Ferguson!
- Turd Ferguson:
On Wednesday, I spoke again with the inimitable Golden Jackass, Jim Willie. First of all, I hope you’ve got some time to devote to listening as this baby clocks in at about 55 minutes. I tell you what, though, it’s well worth your time. Think of it as two acts. In the opening act, Jim answers some of the Turdite questions that were submitted earlier this week. We tried to cover as many as we could but we only got to 5 or 6 of them. The questions were so good that it took a while to answer them but we tried our best to hit the most popular queries. In act two, Jim and I discuss current events and the developing “black hole” of the U.S. treasury market and U.S. government deficit funding. Jim’s on his game here so sit back, relax, maybe crack a cold one and enjoy.
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Von Greyerz: Governments Stand Ready With Massive Package!
- Greyerz – Governments Stand Ready With Massive Package!
by www.kingworldnews.com
With more bailouts needed in Europe and around the world, today Egon von Greyerz told King World News, “Governments are standing ready with a massive package.” Egon von Greyerz is founder and managing partner at Matterhorn Asset Management out of Switzerland. Von Greyerz also said that because of the money printing, “Gold is on the verge of a major breakout here.” Here is what Greyerz had to say about the unfolding crisis: “In Spain, the interest rate is now 7%, which is totally unsustainable for them. They can’t afford to pay 7% or even 5%. Sales and other economic figures in Spain are collapsing. Retail sales are down 10%. Slovenia is the next country that some are predicting will collapse.”
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“Italy is not far away from it (collapse). Now even countries like Holland, retail sales dropped 11%, but it’s spreading everywhere. It’s incredible that the Mayans forecast 2012 would be the end of a major era. It looks, today, like we are standing on the eve of massive changes in the world that will have consequences for a long, long time to come. The scene is already set….
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Gerald Celente: Expect A Tidal Wave Entrance Into Gold ! The Entire Financial System is Collapsing!
- Gerald Celente – Expect A Tidal Wave Entrance Into Gold !
by www.kingworldnews.com
Today top trends forecaster Gerald Celente discussed gold at length, as well as other important trends with King World News. Celente is the founder of Trends Research, and the man many consider to be the top trends forecaster in the world. Celente predicted, “a tidal wave entrance into gold,” because “the entire financial system is in collapse.” But first, here is what Celente had to say about what is happening around the world: “The highlight for the moment is on Greece, but let’s remember that Greece only counts for 2% of the eurozone GDP. It’s more about publicity. How will it look if they leave? Also, everybody knew that the $125 billion (for Spain) was a drop in the bucket compared to the trillions of dollars of debt.”
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“What’s going to happen with the Italians with their bond yields skyrocketing? So with each day it’s a new catastrophe. With each new catastrophe you hear the same lines from the central bankers and the politicians, ‘We have to fix this one. If we don’t fix this one, the whole world will go up in smoke.‘ So this is really serious. Start putting the others pieces together….
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Iran’s Nuclear Negotiator: We’re Strongly Against Weapons of Mass Destruction!
“Iran doesn’t frighten me and I don’t think it should frighten the American people. They don’t have a bomb. They haven’t made a decision to build one. They don’t have the means to deliver one. And the Israelis have 300 atomic bombs! I mean who presents the existential threat to whom?” - Pat Buchanan (7:58 onwards)
Ruinous Record: Arab Village Demolished 38 Times in Israel !
Revelation 2:9 – …. and I know the blasphemy of those who say they are Jews and are not, but are a synagogue of Satan.
- The 13th Tribe of Khazaria! Ashkenazi Khazars Are Not The Jews of The Bible!
If almost 98% of JEWS we know today are NOT semitic, wouldn’t the term ANTI-SEMITIC be null and void? I made this video with 3 Jewish friends who admit they are not Semites!!!!
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“Many [modern-day Jews] of whom have clamored to go back [to Palestine] NEVER had antecedents [physical ancestors] in that part of the world …. The OVERWHELMING majority of Jews are descendants from the converts of Khazaria and elsewhere who ADOPTED Judaism…. This VIEW of the NON-ethnicity of the largest portion of Jewry IS SUSTAINED by such prominent anthropologists as Ripley, Weissenberg, Hertz, Boas, Pittard, Fishberg, Mead and others. . “
- Dr. Alfred M. Lilienthal
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“… Though many Jews are NOT of Semitic origin, we are the religious, spiritual, and national [but NOT genetic] descendants of those who first formed the early foundations of Judaism who were Semites”
- Rabbi Cyril A. Stanway in “Viewpoints,” Thursday, November 8, 1990, in the Sun-News (Las Cruces, New Mexico)
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“. . these Eastern European, Yiddish-speaking Jews who form the Zionist group practically in toto [almost entirely], have NEITHER a geographic, historic NOR ethnic connection with either the Jews [Israelite Judahites] of the Old Testament OR the land known today as Palestine. “
- Jewish Dr. Benjamin H. Freedman, published by the National Economic Council, Inc. as “Council Letter No. 177 (October 15, 1947)
- - Modern Judaism is not the religion of the Bible! See here!
- Modern Ashkenazi Jews are not the Jews of the Bible! God’s covenant was with Abraham and his biological descendents. Ashkenazi Jews are not semitic and their ancestors were never in Palestine. They are not the descendents of Abraham/Isaac/Israel. They have no right to stay in Palestine. What the Zionists are doing to the Palestinians is called: genocide and ethnic cleansing! Zionist ’666′ Israel is not the Israel of the Bible! It is a LIE!
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1980 Jewish Almanac
“Strictly speaking it is incorrect to call an ancient Israelite a ‘Jew’ or to call a contemporary Jew an Israelite or a Hebrew.” (1980 Jewish Almanac, p. 3)
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The Jewish Encyclopedia:
“Khazars, a non-Semitic, Asiatic, Mongolian tribal nation who emigrated into Eastern Europe about the first century, who were converted as an entire nation to Judaism in the seventh century by the expanding Russian nation which absorbed the entire Khazar population, and who account for the presence in Eastern Europe of the great numbers of Yiddish-speaking Jews in Russia, Poland, Lithuania, Galatia, Besserabia and Rumania.”
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The American Peoples Encyclopedia … for 1954 at 15-292 records the following in reference to the Khazars: “In the year 740 A.D. the Khazars were officially converted to Judaism. A century later they were crushed by the incoming Slavic-speaking people and were scattered over central Europe where they were known as Jews.
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According to the standard Jewish Encyclopedia 96% of all the Jews known to the world today are descendents of the Khazar tribes of Russia, Eastern Europe and western Mongolia.
- - The Bible specifically forbids the ill-treatment of people different from us ie: strangers. What Zionist ’666′ Israel does to the Palestinians is called: genocide and ethnic cleansing! Zionist ’666′ Israel is in total violation of God’s law!
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Exodus 22:21
“You shall neither mistreat a stranger nor oppress him, for you were strangers in the land of Egypt.”
Exodus 23:9
“Also you shall not oppress a stranger, for you know the heart of a stranger, because you were strangers in the land of Egypt.”
Leviticus 19:33
‘And if a stranger dwells with you in your land, you shall not mistreat him.’
Leviticus 19:34
The stranger who dwells among you shall be to you as one born among you, and you shall love him as yourself; for you were strangers in the land of Egypt: I am the LORD your God.
Leviticus 23:22
‘When you reap the harvest of your land, you shall not wholly reap the corners of your field when you reap, nor shall you gather any gleaning from your harvest. You shall leave them for the poor and for the stranger: I am the LORD your God.’
Leviticus 24:22
You shall have the same law for the stranger and for one from your own country; for I am the LORD your God.
Ezekiel 47:22-23
22 It shall be that you will divide it by lot as an inheritance for yourselves, and for the strangers who dwell among you and who bear children among you. They shall be to you as native-born among the children of Israel; they shall have an inheritance with you among the tribes of Israel. 23 And it shall be that in whatever tribe the stranger dwells, there you shall give him his inheritance,” says the Lord GOD.
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The so-called Star of David is a Satanic symbol. Satanists and occult practitioners use it for calling Satan and demons!
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Former Satanist, Bill Schnoebelen (now born again Christian)
“A hexagram must be present to call forth a demon” and ” it is a very powerful tool to invoke Satan”. – “To the sorcerer, the hexagram is a powerful tool to invoke Satan.” In fact, the word “hex” — as to put a “hex” or “curse” on people — comes from this word. – If you examine the so-called “Star of David,” or hexagram, closely, you will discover something astonishing. It has six points, forms six equilateral triangles, and in its interior forms a six sided hexagon — thus it reveals the number of Satan’ antichrist beast, — 6 points, 6 triangles, and the 6 sides of the hexagram — 666 !!!
- - See also:
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History of The “Six Million” Myth!
Bolshevik Jews Plotted The Ukrainian Holocaust!
The Jewish Genocide of 1.4+ Million Armenian Christians!
The Bolshevik Jews Behind The Deaths of 40+ Millions During The Communist Revolution!
YNET Israel News: Stalin’s Jews. We Mustn’t Forget That Some of Greatest Murderers of Modern Times Were Jewish!
Bolshevik Jews Plotted The Ukrainian Holocaust!
Mark Weber: The Jewish Role in the Bolshevik Revolution and Russia’s Early Soviet Regime! During Which 20+ Million Russians Died !
The Hidden History of Jewish Bolshevism & Freemasonry! How Masonic Wall Street Banksters Financed The Communist Revolution Which Killed Over 100 Million People!
Mark Weber: Wilhelm Höttl And The Elusive ‘Six Million’! Part 2 – How Many Jews Died?
Ashkenazi Khazars (90+% of modern Jewry) are not the Jews of the Bible!
Benjamin Freedman: Ashkenazi Khazars Self Style “Jews” Are Not Semitic And Not The Biological Descendents of The 12 Tribes of Israel !
The 2002 Jenin Holocaust of Palestinians By Zionist ’666′ Israel !
Deir Yassin Remembered ! The 1948 Holocaust of Palestinians by Zionist ’666′ Israel !
Jewish Historian Ilan Pappe: History of Zionism – Genocide And Ethnic Cleansing of Palestine!
Jenin Massacre
Jewish Historian Teddy Katz: 1948 Tantura Massacre of Palestinians! Genocide And Ethnic Cleansing!
Zionist ’666′ Israeli Apartheid and The Nakba!
Forget Deir Yassin: Its Victims Were “Unworthy”! The Holocaust of Palestinians by Zionist ’666′ Israel !
Holocaustianity: Zionism’s Big Lie!
Texe Marrs: Conspiracy of The 6 Pointed Star!
Repost: Holocaust, Hate Speech & Were the Germans so Stupid?
Jack Bernstein: The Life of an American Jew in Racist Marxist Israel !
Peace, Propaganda & The Promised Land ! US Media And The Israeli-Palestinian Conflict!
’666′ Star of David, Satanic Curse / Hex(agram) On Humanity! Occult Symbol.
The Historical Truth About Auschwitz!
Jewish Estimate Sees Number of Holocaust Dead Drop To 2.8 Million!
Fred Leuchter: The End of The Auschwitz Gas Chambers Myth!
Fred A. Leuchter, Jr.: Inside the Auschwitz ‘Gas Chambers’!
The Rudolf Report: Expert Report on Chemical and Technical Aspects of the ‘Gas Chambers’ of Auschwitz!
Barbara Kulaszka: What is ‘Holocaust Denial’?
How Many Died At Auschwitz?
How the Illuminati Manipulates Jews!
Hitler Was A Rothschild Jew?!
Norman Finkelstein on Zionism And The Holocaust Industry!
Holocaust Denier Death, Mossad Linked. How Many Jews Died in the German Concentration Camps?
Gideon Levy: Ethnic Cleansing of Palestinians, Or, Democratic Israel At Work?!
Israel Admits It Covertly Canceled Residency Status of 140,000 Palestinians!
Flashback 1990: Holocaust Expert Rejects Charge That Nazis Made Soap From Jews!
“ … it turns out the creation of Israel had not, after all, been a haphazard fight in which the Arabs fled their homes at the directives of their own leaders, but it had been an unprovoked, systematic campaign of ethnic cleansing by the Jewish militia involving massacres, terrorism and the wholesale looting of an entire nation.” - from 4:22 onwards
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US Honors Israeli Criminal !
Revelation 2:9 – …. and I know the blasphemy of those who say they are Jews and are not, but are a synagogue of Satan.
India Moves To Start Rupee Payments for Iran Oil !
- India moves to start rupee payments for Iran oil !
by Sanjay Sethi, Press TV, New Delhi
The Indian Finance Ministry has now exempted payment in rupees by issuing an official notification for oil refineries here to pay for crude oil imports from the sanctions hit nation of Iran from paying a 40% local tax.India has been paying over 10 billion US$ to Iran in euros through a bank in Turkey and with this arrangement now 45% of its payments will be paid in Indian rupees. The Indian Rupee is not freely traded internationally.
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Earlier this year Indian Finance Minster while presenting his budget for 2012-13 in parliament had exempted payments to Iran from taxes which was in the national interest, however due to lack of official notifications, the system remained a non-starter.
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When Iran raises the next bill for oil exports to India, oil companies in India will deposit the rupee equivalent of the value raised and route it via UCO bank for transfer to the Iranian Central Bank. UCO Bank was chosen because it has no US or European exposure and its overseas Presence is limited to China, Hong Kong and Singapore.
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India was granted a waiver by the US a few days ago after it had reduced imports of Iranian oil, now imports from Iran will be normal but the quantity will be reduced and shippers can transport oil with an insurance cover. India is the world’s fourth-largest oil importer and second biggest customer of Iranian oil.
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Iran is also a leading importer for the aromatic rice ‘basmati’ that it procures from here and exports are in the region of a million tones every year
The rupee payment will now also help Indian exporters to boost sales and create a new market for their goods in Iran, which has reduced imports from western countries under pressure from the sanctions.
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While Iran plans to use the rupees to pay for imports from India, exporters here had had detailed discussion with the visiting Iranian trade delegation a few weeks ago where they wanted other food items to be allowed including engineering goods, currently the bilateral balance in trade is in Iran’s favor.
Observers point out that India has diplomatically done well and has made the US agree about the importance it attaches to it’s relation with Iran, however it will have to balance this by also exploring other sources for extra oil supplies too meet the shortfall in crude oil imports from Iran from Qatar, Algeria and Saudi Arabia, members of the Organization of the Petroleum Exporting Countries (OPEC), to cater the country’s expanding refinery capacity.
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Central Banks Promise To Save World On Monday If Greece Elects A Crazy Person This Weekend !
Photograph: Petros Giannakouris/AP
- “There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved.”
- Ludwig von Mises, Austrian Economist
- - You cannot solve a solvency problem with injections of liquidity. How does lending more money to a bankrupt nation make it any less bankrupt? This is the solution offered by these Illuminist central banksters: more debts piled upon existing debts. It creates an even bigger problem! They will QE to infinity and cause a global currency crisis. It is intentional. The Illuminists want a global collapse to force the world into their New Financial World Order, One World Currency, Global Supra-National Central Bank!
- - Eventually, these central banksters will make gold into a Tier 1 asset and their banks will accumulate physical gold. They will then revalue the price of gold upwards easily 8x-10x. For eg. If a bank is bankrupt with outstanding debts of US$10B and US$1B of physical gold. The banksters will simply declare the physical gold as now worth US$20B (ie. gold price revision upwards by 20x). The bank is immediately solvent and no longer has to contract loan portfolios to bring it inline with capital adequacy ratio (CAR) requirements. It can then begin to lend out even more money. This act of revaluing the price of gold upwards is thus inflationary. Thus, the banking system is saved !
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Central Banks Promise To Save World On Monday If Greece Elects A Crazy Person This Weekend !
by Stella Dawson, Reuters
WASHINGTON (Reuters) – Central banks from major economies stand ready to take steps to stabilize financial markets by providing liquidity and preventing a credit squeeze if the outcome of Greek elections on Sunday causes tumultuous trading, G20 officials told Reuters.
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A senior U.S. official cautioned that the Greek election will not provide “the definitive signal on what happens next” in the euro zone debt crisis. But if severe market strains emerge after an unusual confluence of three elections this weekend – there are important polls in Egypt and France as well - central bankers are on standby to ensure enough cash is flowing through the financial system.
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“The central banks are preparing for coordinated action to provide liquidity,” said a senior G20 aide familiar with discussions among international financial diplomats. His statement was confirmed by several other G20 officials.
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Bank Run / Bank Holiday Italy: Network Bank Stopped All Payments And Withdrawals!
- Have Bank Holidays Begun in Italy? Network Bank Stops All Payments & Withdrawals!
by http://www.silverdoctors.com/
Reports have surfaced today that Italy’s Network Investment Bank has suspended payments and withdrawals. We now have reports about impending capital controls, and now an Italian Bank holiday at Network Investment Bank. The half life of the sugar rally from Saturday’s Spanish bank bailout appears to have been roughly 2 hours once the markets reopened. Italian report Google translated:
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Network Bank stopped payments, customers furious Stop the transaction until July for the crisis of the institution.
The website of the Bank Network.
Network Investment Bank has suspended payments, causing great inconvenience to customers. STOP FOR A MONTH. The institute, in receivership since last November, announced that on May 31, the commissioners, “with the approval of the Monitoring Committee and with the approval of the Bank of Italy, have decided to suspend the payment of liabilities of any kind ‘for a month. The stop, communicated through the website of the bank, does not include client financial instruments. It was emphasized that “the measure was needed to tackle the difficult situation of the bank. angry depositors. To the rescue – in the few lines we read online – have stepped forward and the group Sim Consultinvest Savings Bank of Ravenna, but in the meantime, depositors are furious . For all spoke Massimo, police in Milan with his wife and two daughters in Messina: “Nobody told me anything and today (June 4), when I went to pay the mechanic, the ATM was not working. Even the credit can do. ‘ “MI HAVE REMOVED THE MONEY.” “Actually,” he added, “I have taken my money. In the book I have only 20 euros in cash and the escrow account where the salary is credited to me, how do I make ends meet? “. And to think that Bank Investment Network has as shareholders the names of the first floor of the financial world: Aviva Banco Popular De Agostini and Sopaf. “GUESTS OF PERSONS FINANCIALLY ADVANCED.” The customers of Bank Network, financial sources have noted, is composed largely of the “financially sophisticated individuals” able to understand the situation and wait for the definition plan of action by the group and Sim Consultinvest Savings Bank announced the release of Ravenna as special commissioners Click here for original source in Italian:
- - Bank Run! Italiano Style?
by Reggie Middleton, via http://www.zerohedge.com/
In March of 2010, or roughly 2 and quarter years ago, I ridiculed Italy’s public proclamations of austerity and fiscal responsibility. I put out a report to my paid subscribers detailing my thoughts therein… see here!
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Well, fast forward to today and Bloomberg reports Italy Moves Into Debt-Crisis Crosshairs After Spain (you know, the same Spain that we also warned about in March of 2010):
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Italy’s 10-year bonds reversed early gains today in the first trading after the Spanish bailout. Their yield rose by the most in a day since Dec. 8, adding 27 basis points to 6.04 percent. Shares of UniCredit SpA (UCG), the country’s largest bank, had their steepest decline in five months. “The scrutiny of Italy is high and certainly will not dissipate after the deal with Spain,” Nicola Marinelli, who oversees $153 million at Glendevon King Asset Management in London, said in an interview. “This bailout does not mean that Italy will be under attack, but it means that investors will pay attention to every bit of information before deciding to buy or to sell Italian bonds.”
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Investors don’t need to focus on Spain’s bailout (although there are many common threads). All you need to do is look at Italy’s actual numbers and the credibility of thier reporting, as excerpted from BoomBustBlog subscriber document
Italy public finances projection: …
…
And this is the crux of the whole problem.
This why Italy is, for all intents and purposes, simply a gigantic Greece at the end of the day.
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read more!
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Gold To Protect As Bank ‘Holidays’, ATM and Deposit Withdrawal Restrictions and Capital Controls Loom!
by GoldCore, via http://www.zerohedge.com/
… While the gold price has not surged as expected and appears to be consolidating near the $1,600/oz level (€1,300/oz and £1,000/oz), there has been a definite increase in demand in recent days , particularly this week and this morning, as the crisis is again leading to safe haven demand – particularly from European buyers.
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There is a slow but creeping realisation that this crisis is soon to escalate and that financial contagion with risks to bank deposits (often guaranteed by insolvent states) and payment systems. Indeed, the entire modern financial system is at risk.
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There are silent runs on banks in Spain, Greece and Italy. The Bank of Italy authorized the suspension of payments by Bank Network Investments Spa (BNI) without communicating anything to depositors. The BNI, a large Italian bank, suspended operations and clients with bank accounts could not write checks, pay bills, make mortgage payments, use ATMs or debit and credit cards.
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The European Union is making preparations to contain the effects of panic if Greece was to exit from the Euro. Among the measures they are considering imposing are a limit on the amount of money that can be withdrawn from cashpoints or ATMS, imposing border checks and introducing currency controls to stop a flight of capital from countries.
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As well as limiting cash withdrawals and imposing capital controls, they have discussed suspending the Schengen Agreement, which allows for visa-free travel among 26 countries, including most of the EU, though not Britain and Ireland.
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EU officials are examining whether there is a legal basis for such extreme measures. While EU officials may manage to patch things up and delay having to implement such extreme measures they seem inevitable in the long term. Especially, as Japan, the UK and US are set to suffer their own debt crisis in the coming months.
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These are risks that we have long warned of and it gives us no pleasure to see them come to pass. However, people who own physical bullion in their possession and in safe storage internationally remain positioned and prepared for these looming real threats.
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About
Societal and economics observer and commentator with an endtimes, future history perspective. Follow me at Twitter: socioecohistory
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