In The News Today: Geithner is on a Trip To Fix The Problems of The Euro!
- In The News Today: Geithner is on a Trip To Fix The Problems of The Euro!
Jim Sinclair’s Commentary:
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New Spin: Attack Syria To Fight Al-Qaeda!

Yes it’s true! US & NATO sending over a division of flying pigs to attack Al CIAda! Believe! Believe!
- New Spin: Attack Syria To Fight Al-Qaeda!
by Paul Joseph Watson, www.Infowars.com
NATO powers helped put Al-Qaeda fighters in Syria in the first place
We are now clearly entering a new phase in the propaganda war with regard to Syria, heralded by the NATO-aligned establishment now using the presence of Al-Qaeda fighters in the country, many of whom were airlifted into Syria by NATO powers, as a justification to launch a wider military assault.
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For months the establishment media has downplayed the presence and influence of Al-Qaeda rebels as a means of legitimizing the NATO-backed Free Syrian Army’s efforts to topple President Bashar Assad.
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Despite innumerable bombings and assassinations targeting the regime, the fact that Al-Qaeda fighters were behind the violence was considered taboo, and some mainstream news outlets even preferred to spin conspiracy theories about Assad’s forces being behind the bombings rather than admit the truth.
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The mainstream media now admits that Al-Qaeda is behind most of the anti-Assad violence in Syria and that the Syrian opposition is largely led by Al-Qaeda fighters, backed up by U.S.-funded rebels. In addition, U.S. officials likeAmbassador Susan Rice and the White House itself have all but applauded terrorist bombings in Damascus. Back in March, leaked emails also revealed that the Pentagon was planning to direct terror attacks and assassinations inside Syria in a bid to topple Assad.
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Despite the U.S. government welcoming attacks carried out by Al-Qaeda as a tool to further destabilize the Syrian government, the establishment has launched a spin campaign claiming that Al-Qaeda is merely capitalizing on the uprising in Syria when in reality Al-Qaeda is leading the uprising.
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A new report out of the RAND Corporation confirms that since December, “Al Qaeda has conducted roughly two dozen attacks, primarily against Syrian security service targets. Virtually all have been suicide attacks and car bombings, and they have resulted in more than 200 deaths and 1,000 injuries.”
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The report also notes how Al-Qaeda has doubled its ranks inside Syria and how its expanding presence in major cities is being funded by “a growing number of donors from the Persian Gulf and Levant,” according to the U.S. State Department.
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Noticeably absent from the report however is the fact that many of these Al-Qaeda fighters were airlifted into Syria from Libya by NATO powers after the toppling of Colonel Gaddafi. As the London Telegraph reported back in November, Libyan rebel fighters and arms were being sent to Syria by the newly installed NATO puppet government.
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read more!
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Mike Maloney Tells Ben Bernanke To “Quit and Close the Federal Reserve!”
- Thank you Mike Maloney for having the testicles, the intestinal fortitude, to tell the Illuminist banksters to piss off!
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Syria: Foreign Jihadists (Al Qaeda) Could Join Battle for Aleppo!
- The western MSM propaganda on Syria is breaking down. The idea that this is an internal uprising by Syrians fighting against oppression is nonsensical. This whole operation is a western CIA fomented terrorist attack! This semi propaganda piece is admitting that many of these fighters are foreigners! Which organization has a history of employing mercenaries, jihadists, criminal thugs, terrorists … ? Western Illuminist intelligence agencies: CIA, MI6, Mossad …!
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Syria: foreign jihadists could join battle for Aleppo!
by Martin Chulov in Beirut, guardian.co.uk
Jihadists, many with al-Qaida sympathies, are said to be planning to join a decisive battle against regime troops
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Scores of foreign jihadists have crossed into Syria from Turkey in the past two weeks, some of them telling Syrians that they are planning to travel to Aleppo to join a decisive battle against regime troops. Syrian residents and a Turkish smuggler interviewed by the Guardian say many of the men have come from the Caucasus, while others had arrived from Pakistan, Bangladesh and Gulf Arab states.
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According to locals who have dealt with them, the new arrivals embrace a global jihadist worldview that sets them apart from most leaders in the armed Syrian opposition and is stirring deep discontent among the rebel leadership.
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Rebel leaders inside Syria say about 15-20 foreign fighters have been crossing each day since mid-July, trying to join up with an estimated 200-300 foreigners in Syria. “There have been Tunisians, men from Uzbekistan too and from Pakistan,” said the smuggler. “They say the Syrians are brothers and that they are going to help them.”
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Some of the new arrivals have told local people they will also try to connect with a small number of homegrown Syrian groups in the country who at least partly share their ideology and who fought against US forces in Iraq.
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read more!
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Iran Drought Part of ‘Soft War’ by West: VP! HAARP??
- Are US and NATO employing HAARP against Iran (& China & Russia) ? My suspicion is Yes! The spate of unnatural weather not just in Iran, China and Russia but also record breaking drought in US, raises my suspicion. The Illuminists want to foment violence, wars, chaos, famine, drought, ‘natural’ man-made disasters, earthquakes, social breakdown …. etc. to lay the groundwork for the coming of their Anti-Christ, the fake messiah, bringer of false peace, the white horseman of Revelation 6! Expect more of such ‘natural’ disasters: earthquakes, massive rainfall causing massive flooding, droughts …. weather warfare! (emphasis mine)
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Iran drought part of ‘soft war’ by West: VP!
by http://www.dailystar.com.lb/
TEHRAN: The drought in southern Iran is part of a “soft war” launched against the Islamic republic by the West, the Fars news agency quoted an Iranian vice president as saying Monday.
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“I am suspicious about the drought in the southern part of the country,” Hassan Mousavi, who also heads Iran’s cultural heritage and tourism organisation, said at a ceremony to introdue the nation’s new chief of meteorological department.
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“The world arrogance and colonist (term used by Iranian authorities to label the West) are influencing Iran’s climate conditions using technology… The drought is an acute issue and soft war is completely evident… This level of drought is not normal.”
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Iran has experienced several droughts in recent years, especially in the south where it was hit in recent weeks by violent sand storms that engulfed several cities. Sand storms particularly enter Iran from neighbouring Iraq where desertification has increased over the last two decades due to wars.
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Last year, Iranian President Mahmoud Ahmadinejad accused Western countries of devising plans to “cause drought” in Iran, adding that “European countries are using special equipment to force clouds to dump” their water on their continent.
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Iranian leaders claim on a daily basis that Western countries, led by arch-foe the United States, devise “plots” in many forms to undermine the Islamic republic and to impede its economic and scientific development. They also accuse world powers of colluding against Iran’s national unity, independence, political establishment, culture as well as international relations.

HAARP Radar signatures over Australia? Source: http://www.colinandrews.net
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Banking Cartel Plots Civil War with The People!
- “All wars are based on deception!” - SunTzu, The Art of War.
- At the heart of the western Illuminati is their global central banking cartel. This is their main source of power: their control over fiat currencies. Practically all central banks are privately owned Illuminist corporations. These banksters are taking over the world!

The Western Illuminati Organization Chart. Source: http://www.stevequayle.com
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“Free Syrian Army” is Al Qaeda: WikiLeaks Propaganda About Chemical Weapons in Syria!
“Al Qaeda is a creation of the US intelligence apparatus! It is extremely well documented ! Many of the terrorist attacks are in fact orchestrated by the US intelligence and military!” - Michel Chossudovsky, 7:40 onwards
- WikiLeaks, as any informed person knows, is a CIA operation. Ask yourself this: Cui Bono, whenever WikiLeaks expose sensitive information? It is obvious: America and its allies! Of course, once in a while, certain sensitive leaks come out to embarrass the western alliance. But really, nothing of consequence! You need to sacrifice a few pawns (of no real consequence) to sell propaganda, to keep up the appearance!
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“Free Syrian Army” is Al Qaeda: WikiLeaks Propaganda About Chemical Weapons in Syria!
by Susanne Posel, http://globalresearch.org/
Members of the Free Syrian Army (FSA) are not just tied to al-Qaeda, the CIA-funded fake Islamic terrorist group, they ARE al-Qaeda. In a video of members of the FSA, these men are brandishing AK-47s provided to them by the CIA and have al-Qaeda flags flying in the background.
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Al-Qaeda has been used by the US government in insurgent recruitment and in destabilizing Middle Eastern governments. The new recruits, being trained by the CIA in Turkey, then being allocated to the FSA and being used to destroy the Syrian government are directly tied to al-Qaeda. In the mainstream media, al-Qaeda is still touted as a separate terrorist organization with no ties to the US government.
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Tayyip Erdogan, the Turkish Prime Minister, is now decrying that his involvement in assisting the CIA has created a backlash of violence in his own country and compromised their national security.
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Erdogan is reluctant to continue to cooperate with CIA training facilities that create more “troops” for the FSA who are released into Syria through the Turkish border. The further involvement of Turkey in attempting to “handover Assad” to the US government through the use of fake terrorist organizations is causing a Kurdish outcry while military training camps are turning out “a good number of Kurds” who have been taught how to covertly support the US and Israel movement toward forced regime change in Syria.
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Abu Thuha (a pseudonym) is an al-Qaeda operative who claims that “we have experience now fighting the Americans, and more experience now with the Syrian revolution. Our big hope is to form a Syrian-Iraqi Islamic state for all Muslims, and then announce our war against Iran and Israel, and free Palestine.”
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The terrorist activity in Syria has been directly committed by oppositional groups that are being controlled and directed by the US government in order to facilitate internal conflict, says a study by the Institute for the Study of War (ISW).
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Joseph Holiday, analyst for the ISW, who studies the influence al-Qaeda has had on the Arab Spring, asserts: “The emergence of Al Qaeda-linked terrorist cells working against the regime poses risks to the United States and a challenge to those calling for material support of the armed opposition. It’s something to keep an eye out for, the convergence of Iraq and Syria. As the Syrian government loses the ability to project force on the periphery of its territory, what you’re going to see is an emboldened Sunni opposition emerging in Nineveh and Iraq.”
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Daniel Byman, a professor and counterterrorism expert at Georgetown University as well as a fellow of the Brookings Institute, says that it is obvious that al-Qaeda is becoming more active in Syria. This terrorist organization was used by the US government in Somalia and Mali, and before that in Chechnya and Yemen, and the group is currently trying to turn a local conflict to its advantage. “There’s no question Al Qaeda wants to do that, and they are actually pretty good at this sort of thing,” said Byman. “They’ve done well at taking a local conflict” and taking it global. “They learned a lot from Iraq,” he remarks. “They even write about this — they say, ‘We got on the wrong side of the locals.’ ”
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Along with use of fake terrorist groups, Syria is being accosted with false claims of chemical weapons which are being tied to Iran by the US government and Israel. Documents provided by the European Union are being used to support the WMDs false flag. The EU says they provided the technical assistance and equipment as well as $14.2 million to the Syrian Ministry of Industry in 2010. The EU says that now these procurements are being used to create a chemical weapon’s program.
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An EU spokesperson says that the money they gave Syria was supposed to be allocated to safety standards for products and laboratories, but now they believe it has been used to create chemical weapons.
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James Quinlivan, senior operations research analyst at the RAND Corporation, a globalist front for Elite agendas, claims that “calibration is a big deal for these things. While mustard [gas] lasts amazingly well, nerve agents do not. For nerve gases, particularly sarin, retention relies on purity, and this must be tested.”
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WikiLeaks have been working with the US State Department in framing Iran and Syria, as the website has built a following and reputation as being an exposer of wrong-doings by governments. Yet, the WikiLeaks phenomena is also created and controlled by the US government and only “leaks” information that is useful to the US government’s agendas and strategies overseas.
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read more!
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The Muslim Brotherhood And Obama Administration Serve The Global Elite!
“The ultimate goal that these people have in mind … is the goal to create a One World Government run by the banking industry .. run by the bankers! … The whole agenda is to create a One World Government where everybody has an RFID chip implanted !”
- Aaron Russo 0:15 onwards
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“He’s (Rockefeller) the one who told me 11 months before 9/11 ever happen, there was going to be an event. .. And out of that event we will invade Afghanistan, (for) the pipelines to the Caspian sea. We were going to invade Iraq .. to take over the oil fields, establish a base in the Middle East and make it all a part of the New World Order! And we will go after Chavez Venezuela. Sure enough 9/11 happened ! … And there was going to be this War on Terror which has no real enemy. And the whole thing is a giant HOAX! … This whole War on Terror is a FRAUD! ”
– Aaron Russo 2:30 onwards
- The Muslim Brotherhood (Masonic Brotherhood really) is an Illuminati organization. Illuminists disguise themselves as Christians, Jews, Muslims …etc. The MB is just another arm of the CIA! There is a psyop that is fomenting Islamophobia, particularly amongst Christians. They want to deceive Christians into fighting against Muslims (in the coming Satanic World War 3). Muslims are not the problem! Look behind all these ‘Christians’ who are promoting/fear mongering Islamophobia. They are either easily deceived useful idiots or Illuminists! God and His Beloved Son Jesus Christ never taught me to hate and kill Muslims! Do not be taken for a ride!
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The Muslim Brotherhood and Obama Administration Serve the Global Elite!
By Susanne Posel, theintelhub.com
Huma Abedin, who is the top aide to Hillary Clinton, US Secretary of State, has been accused of having ties to the Muslim Brotherhood, which is a terrorist group that is working directly with the CIA in toppling governments through fake revolutions and domestic terrorism.
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Michele Bachmann has been receiving heat from her political peers for having written a letter to the Inspector General of the US State Department, in which she stated that Abedin’s family members (specifically her deceased father, mother and brother) are not only tied to the Muslim Brotherhood, but involved directly with the faction.
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Bachmann’s letter to the Department of Homeland Security (DHS) cited that “political correctness” overtakes the clear and present threat to the US government from Muslim radicals domestic and foreign. “In practice, this has translated into direction that amounts to ignoring pre-violent jihadist behavior–no matter how threatening–as long as it can be construed as ‘constitutionally protected.’”
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Bachmann admonished Obama to revise his foreign relations policy. The outing of Abedin and her Muslim Brotherhood ties has been turned into an attack on religious freedom .
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Bachmann’s assertions are true . In fact, Abedin’s mother, Dr. Saleha Mahmood Abedin is “one of the founding members of the Muslim Sisterhood” and a “long-time chairperson of the “International Islamic Committee for Woman and Child” (IICWC), which wants to impose Sharia law on Egypt, and eventually, the West.” The IICWC believe that:
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• Female mutilations is not a criminal act
• Child marriage should be legal
• Men have the right to polygamy and marital rape
• Children belong legally to the father
• Physical, mental or emotional abuse by parents cannot be legally punished
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Clinton, on a visit to Saudi Arabia, spoke at the Islamic college of Dar El-Hekma where Dr. Abedin is vice-dean and founder.
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Since Bachmann’s accusations, an anonymous man who was “described as a Muslim man” and made an “unspecified threat” toward Abedin. This ambiguous “threat” from “a New Jersey man” has prompted Abedin to employ security to protect her.
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Abedin, who is of Egyptian decent, is married to House Representative Anthony Weiner who is Jewish. Weiner is aself-proclaimed Zionist, as he proudly stated: “Support for Israel was always a very big focus in my household growing up. I am a Zionist.”
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The Obama administration has been working with the Muslim Brotherhood after the Arab Spring toppled the Egyptian government. Mohammad Morsi, recently elected president of Egypt, and member of the Muslim Brotherhood is another plant by the CIA meant to be controlled and implement the US government’s agendas in Egypt.
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In celebration of the elections, Obama gave the MB $1.5 billion in foreign aid to the MB. Having a terrorist group in control of this prominent Arab nation is a big coup for the Obama administration. This bribe is obviously a clear indicator that the MB will do the bidding of the US covertly, while appearing to be against the US government on the surface.
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Just three months ago , Obama hosted members of the MB at the White House to “broaden [the US] engagement” of the Egyptian leaders they have shadow control over.
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Abedin, her ties to the Muslim Brotherhood, and her close relationship with Clinton places the Muslim Brotherhood at the heart of the Obama administration. Whether the tail is wagging the dog or vice versa may not be relevant. All of these puppets serve the global Elite and play their part very well.
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Susanne Posel is the Chief Editor of Occupy Corporatism. Our alternative news site is dedicated to reporting the news as it actually happens; not as it is spun by the corporately funded mainstream media. You can find us on our Facebook page.
- - The Masonic Origins of the Muslim Brotherhood (emphasis mine)
The Masonic origins of the Islamists movements, and their true goal to undermine Islam and fight for Western Zionist Powers such as Britain and the United States of America. The Muslim Brotherhood has acted as a clever technique to recruit agent-provocateurs for the Illuminati. The lowest ranks may sincerely believe they are defending Islam, and confronting “Western imperialism”. However, these various terrorist groups, through representing different factions, are part of a single network serving the same Illuminati cause.
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When we explore the political and financial connections of the terrorists, we find that these are not merely wayward fanatics, operating in isolation, but that their channels penetrate to the upper reaches of power, in the British and American governments, and outward into the nether regions of the occult and criminal underworlds.
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William Engdahl on Egypt’s uprising:
They are being organized in a Ukrainian-style high-tech electronic fashion with large internet-linked networks of youth tied to Mohammed ElBaradei and the banned and murky secret Muslim Brotherhood, whose links to British and American intelligence and freemasonry are widely reported.
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Muslim Brotherhood created by British Intelligence
Dr. John Coleman, a former British Intelligence agent…states in his report on Iran’s Islamic Revolution that the Muslim Brotherhood was created by “the great names of British Middle East intelligence”…and that their mission was to “keep the Middle East backward so that its natural resource, oil, could continue to be looted…”
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The Muslim Brotherhood is a London creation, forged as the standard-bearer of an ancient, anti-religious (pagan) heresy that has plagued Islam since the establishment of the Islamic community (umma) by the Prophet Mohammed in the seventh century. Representing organized Islamic fundamentalism, the organization called the Muslim Brotherhood (Ikhwan al-Muslimum in Arabic) was officially founded in Egypt, in 1929, by the British agent Hasan al-Banna, a Sufi mystic. Today, the Muslim Brotherhood is the umbrella under which a host of fundamentalist Sufi, Sunni, and radical Shiite brotherhoods and societies flourish.
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The Muslim Brotherhood is a tool by the British-based Globalists whose main objective is to overthrow the established world order and create a new one-world system of global governance. Without the British, “radical Islam would have remained the illegitimate, repressive minority movement that it has always been, and the Middle East would have remained stable and prosperous.”
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The real Muslim Brothers are…the secretive bankers and financiers who stand behind the curtain, the members of the old Arab, Turkish, or Persian families whose genealogy places them in the oligarchic elite, with smooth business and intelligence associations to the European black nobility and, especially, to the British oligarchy.
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By fabricating a bogus war between Islamic fundamentalism and the West, the globalists are able to attack their real enemy, humanity. Pulling the strings, they will ensure that both Western and Muslim states are degraded and finally completely subjugated to their odious rule.
end
German Intelligence: Al-Qaeda All Over Syria!
- Al Qaeda (the Database) is really just a list of names of mercenaries, criminal thugs, jihadists … under the employment of the CIA. It is a tool of western Illuminist intelligence agencies: CIA, MI6, Mossad …etc. The financing, recruiting, training, logistical supplies, management, target planning/acquisition, organization, war planning … are all done by these Illuminist agencies. These Illuminist agencies serve the western Illuminati. You should not think that just because it is a CIA operation, they serve the American people. This is false. If Americans were to realize what these Illuminists are doing to them and the world, I have no doubts that Americans will hang every single one of them!
- - Al Qaeda is used as a fear meme to take away the freedom of the American people, employ ever increasing police state and martial law. It is about the implementation of the Luciferian New World Order, Global Fascist Militarized-Police State –> ’666′!
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German intelligence: al-Qaeda all over Syria!
by John Rosenthal, http://globalresearch.org/, Asian Times
German intelligence estimates that “around 90″ terror attacks that “can be attributed to organizations that are close to al-Qaeda or jihadist groups” were carried out in Syria between the end of December and the beginning of July, as reported by the German daily Die Frankfurter Allgemeine Zeitung (FAZ). This was revealed by the German government in a response to a parliamentary question.
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In response to the same question, the German government admitted that it had received several reports from the German foreign intelligence service, the BND, on the May 25 massacre in the Syrian town of Houla. But it noted that the content of these reports was to remain classified “by reason of national interest”, Like many other Western governments, Germany expelled Syria’s ambassador in the immediate aftermath of the massacre, holding the Syrian government responsible for the violence.
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Meanwhile, at least three major German newspapers – Die Welt, the FAZ, and the mass-market tabloid Bild – have published reports attributing responsibility for the massacre to anti-government rebel forces or treating this as the most probable scenario.
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Writing in Bild, longtime German war correspondent Jurgen Todenhofer accused the rebels of “deliberately killing civilians and then presenting them as victims of the government”. He described this “massacre-marketing strategy” as being “among the most disgusting things that I have ever experienced in an armed conflict”. Todenhofer had recently been to Damascus, where he interviewed Syrian President Bashar al-Assad for Germany’s ARD public television.
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Wring in Die Welt, Alfred Hackensberger noted that Taldo, the sub-district of Houla where the massacre occurred, has been under rebel control since December 2011 and is in an open plain, making it unlikely that “hundreds of soldiers and Assad supporters” could have entered the village to commit the massacre. (An abridged version of Hackenberger’s report also appeared in Die Berliner Morgenpost.) Hackensberger visited Houla to conduct investigations for his report.
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He also interviewed an alleged eyewitness – identified simply by the pseudonym “Jibril” – at the Saint James Monastery in Qara, Syria. In contrast to an earlier report in the FAZ, which had claimed that the victims were largely Shi’ites and Alawis, Jibril told Hackensberger that all of the victims were Sunnis “like everybody here”. By his account, they were killed for refusing to support the rebellion. Jibril added that “a lot of people in Houla know what really happened” but would not say so out of fear for their lives. “Whoever says something,” he explained, “can only repeat the rebels’ version. Anything else is certain death.”
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While traveling in the region of Homs, Hackensberger heard similar stories about the conduct of the rebels. One – now former – resident of the city of Qusayr told him that not only were Christians like himself expelled from the town, but that anyone who refused to enroll their children in the Free Syrian Army had been shot. Hackensberger’s source held foreign Islamists responsible for the atrocities. “I have seen them with my own eyes,” he said, “Pakistanis, Libyans, Tunisians and also Lebanese. They call Osama bin Laden their sheikh.”
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A Sunni resident of Homs told Hackensberger that he had witnessed how an armed group stopped a bus: “The passengers were divided into two groups: on the one side, Sunnis; on the other, Alawis.” According to Hackenberger’s source, the insurgents then proceeded to decapitate the nine Alawi passengers.
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That the German government would cite national interest in refusing to disclose its information concerning the circumstances of the Houla massacre is particularly notable in light of Germany’s support for the rebellion and its political arm, the Syrian National Council (SNC).
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While France, the United Kingdom, and the United States have figured as the most visible Western powers supporting the rebellion, Germany has been quietly playing a major role behind the scenes. According to a new report in the FAZ, the German foreign office is working with representatives of the Syrian opposition to develop “concrete plans” for a “political transition” in Syria following the fall of Assad.
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John Rosenthal is a journalist who specializes on European politics and transatlantic security issues. His website is Transatlantic Intelligencer
end
Thanks To The Bailouts, Germany Now Has a Debt to GDP of 300%… Bye Bye Eurozone!
- Forget about all the official debt to GDP statistics out of the Eurozone. It is a fact that governments provide fraudulent statistics. The official debt to GDP for Germany is about 82%. What they don’t tell you is that it excludes: unfunded liabilities, off-balance sheet items… etc. If I were to use the same method of reporting in the private sector, I would be arrested, charged and found guilty of fraud! Governments have been lying and employing fraud to deceive the sheeple.
- - What is really happening is the financial rape of the German sheeple by the Illuminist snakes. They need to bankrupt Germany so that the Germans will not be able to resist the implementation of their Luciferian New World Order!
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“Moreover, that €328 billion has already been spent via various EU props. Indeed, when we account for all the backdoor schemes Germany has engaged in to prop up the EU, Germany’s REAL Debt to GDP is closer to 300%.”
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Thanks to the Bailouts, Germany Now Has a Debt to GDP of 300%… Bye Bye Eurozone!
by Phoenix Capital Research, via www.zerohedge.com
The European Crisis is accelerating with every day. Indeed, at this point there’s a new major development (if not more than one) on a daily basis. Rather than detailing every single news item, I’d rather address the larger concerns. This will better help you understand the larger systemic issues and how this is all likely to play out.
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Greece, which we’ve been told was “saved” more than a dozen times, is back on the ropes and on the verge of needing a third bailout:
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Greece will need more debt restructuring…EU officials
Greece is unlikely to be able to pay what it owes and further debt restructuring is likely to be necessary, three EU officials said on Tuesday, a cost that would have to fall on the European Central Bank and euro zone governments.
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The officials said that twice bailed-out Greece would be found to be way off track by EU and International Monetary Fund officials who have been assessing the country.
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Inspectors from the European Commission, the ECB and the IMF — together known as the troika — returned to Athens on Tuesday and will complete their debt-sustainability analysis next month, but the sources said the conclusions were already becoming clear.
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It means Greece’s official-sector creditors — the ECB and euro zone governments — will have to restructure some of the estimated 200 billion euros of Greek government debt they own if Athens is to be put back on a sustainable footing.
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http://www.reuters.com/article/2012/07/24/us-eurozone-greece-idUSBRE86N11D20120724
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How this can be a surprise to anyone is beyond me. Greece was already asking for repayment extensions after its first bailout. Put another way Greece was already showing that it couldn’t meet its easier/ more lax debt repayment schedule back in 2010.
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As a standalone item, Greece is now at the point of either leaving the Euro or defaulting. Both items are receiving coverage in the mainstream financial media, which tells us that high-level officials have plans in place for either eventuality (things don’t get out into the media in Europe until political “sources” plant them).
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Greece’s Far-Left Leader Says Country Will Default
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read more!
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Eurozone Break-Up Would Trigger £1 Trillion of QE, See Banks Nationalised And Deep Recession, Warns Fathom!
- Wealth cannot be created by printing money, by creating fiat money out of thin air. If QE can solve our economic problems I will be the first to push for it. Heck, why not just create, out of thin air, $1million for each man, woman, child and their pet dog! Abolish all taxes, if the government needs money just QE to infinity! It is economic heresy which these people are proposing. What do you think will happen once UK starts to implement £1 trillion of QE? The UK pound will be toast! All fiat currencies are a CONfidence Job! The sheeple will realize it sooner or later. When they realize it, it will be too late. Their hard-earned money will be stolen by the Illuminist politician/bankster snakes via hyperinflation! Got physical gold yet?
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Eurozone break-up would trigger £1 trillion of QE, see banks nationalised and deep recession, warns Fathom!
By Philip Aldrick, http://www.telegraph.co.uk/
A Eurozone break-up would plunge the UK into an even deeper recession than the last one, force the Government to nationalise the banks, and trigger a £1 trillion bout of money printing, leading economic consultancy Fathom has warned.
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According to Fathom Consulting, the economy would shrink by 5.2pc in 2013 if the euro collapsed – a projection that former Bank of England deputy governor Sir John Gieve, speaking at Fathom’s quarterly Monetary Policy Forum, described as “modest”. In 2009, the worst year of the recent recession, the economy shrank by just 4pc.
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The warning came as Moody’s, the ratings agency, lowered its UK growth forecast to just 0.4pc this year and 1.8pc in 2013, in the wake of the shock 0.7pc contraction in GDP in the second three months of the year. The Organisation for Economic Co-operation and Development separately said the economy would shrink this year as a whole.
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Christophe Andre, acting head of the organisation’s UK desk, said: “The eurozone crisis is going to weigh on the UK in the coming months. Under these circumstances you cannot expect much more than very slow growth. GDP will probably fall in 2012.”
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Despite the forecast cut, Moody’s did not change its “negative outlook” on Britain’s AAA rating. However, it warned of “rising challenges in achieving debt reduction within the timeframe laid out by the Government” and said the growth outlook “underscored” the UK’s problems. Last week, Standard & Poor’s reconfirmed Britain’s top-notch rating.
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Fathom said it expects the economy to shrink by 0.3pc this year and bounce back to 1.4pc growth in 2013, but to slow down again as Britain’s “debt overhang” weighed on the recovery.
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read more!
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