Socio-Economics History Blog

Socio-Economics & History Commentary

Gaza Flotilla Attacked: Israeli Troops Storm Aid Ships, up to 20 Killed !

May 31, 2010 Posted by | GeoPolitics, Social Trends | , , , , | Comments Off on Gaza Flotilla Attacked: Israeli Troops Storm Aid Ships, up to 20 Killed !

Zionist Israel Boards Free Gaza Flotilla In International Waters And Kills 15 Civilians!

  • You cannot board any ship you like in international waters and kill people on board it. The people on board the ship have the right to self-defence in such instances. When pirates attempt to board any ship in international waters, the crew/people on board the ship have the right to self-defence. What Zionist Israel just did contravene international law and is outright murder! This proves once again what the Zionists are good at: murdering civilians! I asked all to sound a protest against the inhumanity of Zionist Israel. They have been executing genocide and ethnic cleansing against the Palestinians for the past 60+ years!
     
    Israel boards Gaza-bound ships, 15 dead – reports

    JERUSALEM—About 15 people were killed on Monday when the Israeli navy intercepted a convoy of aid ships that activists were trying to sail to the Gaza Strip, Israel’s Channel 10 private television network said. Earlier, a spokesman for the Free Gaza Movement which organized the six-ship flotilla said at least two were killed.
     
    Casualties could hurt Israel’s international image and diplomatic relations, especially its long-time regional Muslim ally Turkey, whose flag some of the aid ships were flying. Israel has said it was absolutely determined to maintain its blockade of the Islamist Hamas-controlled Gaza Strip, a Palestinian territory of 1.5 million. It has previously halted such activist ships, although others have reached Gaza before.
     
    Amid Israeli military censorship and a refusal of Israeli officials to comment on what appeared to be a continuing operation three hours after dawn broke over the Mediterranean, Channel 10 made clear it was not citing foreign sources.
      
    After initially reporting that at least 10 people were dead, it later said the death toll was between 14 and 16. It said commandos who had boarded the convoy were still conducting searches and encountering what it called violent resistance. “Two people have been killed on board the Turkish boat and 30 or more were wounded,” said Mary Hughes Thompson, a spokeswoman for the Free Gaza Movement, which was behind the convoy. “As far as we know IDF (Israeli military) commandos descended on the boat from helicopters and took it over.”
     
    The convoy set off in international waters off Cyprus on Sunday in defiance of an Israeli-led blockade of the Gaza Strip and warnings that it would be intercepted. The flotilla was organized by pro-Palestinian groups and a Turkish human rights organization. Turkey had urged Israel to allow it safe passage and said the 10,000 tonnes of aid the convoy was carrying was humanitarian.

     
    AP:  At least 10 activists were killed in Monday morning’s clash in international waters of Israel’s Mediterranean coast.
    Israeli commandos on Monday stormed six ships carrying hundreds of pro-Palestinian activists on an aid mission to the blockaded Gaza Strip, killing at least 10 people and wounding dozens after encountering unexpected resistance as the forces boarded the vessels. The operation in international waters off the Gaza coast was a nightmare scenario for Israel that looked certain to further damage its international standing, strain already tense relations with Turkey – the unofficial sponsor of the mission – and draw unwanted attention to Gaza’s plight.
       
    The tough Israeli response drew condemnations from Turkey, France and the U.N.’s Mideast envoy, while Greece suspended a military exercise with Israel and postponed a visit by Israel’s air force chief.
     
    About 10,000 Turks also marched from Israel’s Consulate in Istanbul toward the city’s main square, shouting slogans denouncing Israel. The protesters earlier Monday tried storm the Consulate building but were blocked by police.
     
    In response, Israel advised its citizens Monday to avoid travel to Turkey and instructed those already there to keep a low profile and avoid crowded downtown areas. The Israeli ambassadors in Sweden, Spain, Denmark and Greece were summoned for meetings, and the French foreign minister called for an investigation. Activists from all of those European countries were on board the flotilla. In neighboring Jordan, hundreds demonstrated in the capital Amman to protest the Israeli action and demand that their government breaks diplomatic relations with the Jewish state.

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May 31, 2010 Posted by | GeoPolitics | , , , , , , , | 1 Comment

Former BBC Reporter Alan Hart Reveals ‘Mossad’ Involved in 9/11 !

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May 31, 2010 Posted by | GeoPolitics, History | , , , , , , | 6 Comments

The Looming Financial Holocaust, Massive Bearish Patterns Across Multiple Markets!

  • Warning!! Warning!! Ginormous financial tsunami approaching! The economic fundamentals of the world are bad. Can the best of Asia pull the rest of the world away from this coming financial tsunami? I don’t think so. The entire economy has been driven by debt/leverage. At some point in time we all have to pay the piper. That time is passed !
     
  • My feeling is that by Q4 2010, this coming financial, economic, monetary and banking tsunami will have hit all over the world. History tells us that during such times, World War is but a minute away! Clive Maund has written an excellent technical piece. Click here for the entire article and the chart patterns! My conclusion (different from his view) is that only gold and silver are safe to put your money in. Excerpts:
     
    We had expected the broad stock market and the resource sector to stabilize and start to recover last week and they did, and while we are likely to see further recovery in the days and perhaps weeks ahead, there have been some ominous developments in the recent past that we would be most unwise to ignore. The market did not go into full crash mode because it was not technically ready to, although it got close to it, and crucial support held – for now. However, heavy technical damage was inflicted and a broad review of long-term charts reveals that a blood-curdlingly dangerous setup has developed across a wide spectrum of markets.
      
    You may recall that day early in May when the Dow Jones Industrials mysteriously plunged by nearly 1000 points intraday. In an effort to placate unnerved investors, the media tried to pass it off as a technical glitch. What actually caused it was a wave of heavy selling caused by those who suddenly �saw the writing on the wall�. If this drop was due to some technical glitch then why, after bouncing, did the market drop to even lower levels a week or two later?
       ….
    We are going to go into full defensive mode, which means cash, protection of any open long positions with Puts, and the use of conservative bear plays primarily to preserve capital but also as a means to profit from the expected heavy declines, for given that markets tend to drop twice as fast as they go up, because panic is a more powerful emotion than greed, as made plain by the events of 2008, there is no reason why we should sit on our hands and pass up the opportunities that will be presented by the general misfortune. We will be looking at a range of bear plays whose chief purpose is to safeguard capital, but also have the capacity to make substantial gains, over the next several days on the site.
     
    Finally, we should note that although the markets appear to be drawing close to another 2008 style meltdown, there will be some big differences between the collapse in 2008 and the one that is looming. In the first place it could be considerably worse, as none of the underlying structural distortions and problems that led to the collapse in 2008 have been squarely addressed and dealt with – the problems have simply been swept under the carpet by the application of massive doses of additional liquidity and the further ramping of debt. Secondly we are not too talking about companies that are too big to fail needed to be bailed out at taxpayer’s expense, this time round we are looking at entire countries going bust – politely referred to as �sovereign defaults�, and unless other countries step up to the plate to bail out those heading for the rocks, they will have to bail themselves out – which means either devaluation of their currencies or self-monetization requiring a massive ramping of the money supply which will feed through into rampant inflation or hyperinflation.
     
    This is the situation the US faces, as it has passed the point of no return, its debts and obligations are so huge they simply cannot be met, even at the current ridiculously low rates of interest. Thus we are likely to see unprecedented volatility in markets, and while the PM sector now looks likely to be taken down with the rest of the market due to forced liquidation leading to indiscriminate dumping, it is likely to come roaring back later as the hyperinflation approaches, particularly in the US. The same blind panic and flight to cash may well cause the dollar and Treasuries to continue even higher temporarily, although with the fundamentals for the dollar and the US economy that much worse than in 2008, a savage reversal and bear market is likely to follow immediately the dust starts to settle.

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May 31, 2010 Posted by | Economics | , , , , , , , , , | Comments Off on The Looming Financial Holocaust, Massive Bearish Patterns Across Multiple Markets!

US Military Alert Level Raised in Seoul, 24 Stealth Fighters Jets Ready!

F117 Stealth Fighter

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May 31, 2010 Posted by | GeoPolitics | , , , , , | 1 Comment

South Korean Pastors Question Conclusions of the Cheonan Sinking Investigation! Who is Staging a War Between North and South Korea?

  • Both Iran and North Korea are being setup for World War 3. I believe that the Illuminists are also going to setup Pakistan and India soon. The likely scenario is a false flag (nuclear?) attack in America to blame it on Pakistan and Iran. The western Illuminist cabal will subsequently drag in Myanmar (to set Southeast Asia aflame) and Venezuela (to set Latin America aflame). China will be dragged into this multi region war.
     
  • The end result these Illuminists seek is a total destruction of the current world order. Both Zionist West and the Muslim world will largely be destroyed. However, based on Ezekiel 38, it looks like Iran will survive and remain a dominant power in the middle east. Zionist Israel and America will be destroyed. America will be remolded into the New World Order, One World Government, Global Fascist Police State. This is the Mystery Babylon Whore of Revelation 17.
     
  • War is a racket ! It is engineered by the Illuminati to further their objective of world conquest and used as a means of mass culling the sheeple. Do not fall into their propaganda and lies about: fighting for freedom, defending America from terrorists… we are fighting a righteous war, God is on our side….. Satanists, very much like Lucifer, use deception to trick otherwise good people, Christians…, to do their dirty work for them: killing the sheeple!
     
    South Korean religious leaders question conclusions of the Cheonan sinking investigation
    COMMENTS ON THE ANNOUNCEMENT OF THE JOINT CIVILIAN-MILITARY INVESTIGATION GROUP’S CONCLUSION
     
    “Nothing is covered up that will not become known” Luke 12:2
     
    We, PROK, who have been praying for democracy, peace, and life of Korean society, raise some points responding to the JIG’s announcement of the conclusion of its investigation that says South Korean Navy ship Cheonan sank by a North Korean submarine attack with a heavy torpedo.
     
    First of all, we point out that JIG’s investigation cannot be fair and objective from the beginning. The Ministry of National Defense and the military, which are the most responsible for the incident took control over the whole investigation. They also made a hasty announcement to meet the first day of the campaign for the coming election on June 2, which left suspicions about the background. If there is any intention to take advantage of 46 young sailors’ deaths for any political purpose, it will kill them again. JIG’s announcement did not explain anything but left so many questions among Korean people. Now we are asking the following questions.
     
    1. We cannot understand why the crucial moment of sinking is missing from the footage (TOD). The JIG must also release the records of radio messages exchanged and Cheonan’s CCTV recordings.
     
    2. If Cheonan had sunk due to a shockwave and bubble effect by an underwater torpedo explosion, there must be any eyewitness of the giant water pillar. Moreover, most survivors are not suffering from torn eardrums, intestinal damages, fractures, or lacerations which are the general symptoms of torpedo explosion.
     
    3. There were 13 Korean and US up-to-date ships at the West Sea near the scene. They were conducting a joint military drill at that time. Among those 13 ships are Cheonan, a warship to detect and fight with the submarines, torpedoes, airplanes, and missiles, and another warship Aegis specialized in dealing with submarines. Why couldn’t any of the super modern ships detect the attack of the North Korean submarines or torpedo?
     
    4. Why was late petty officer Han Joo-ho searching the third location, not the bow or the stern where the sailors were? Why did the American ambassador and the commander of American Army in Korea attend the memorial service for him to express condolences and pay comport money to his family? The JIG must give a clear explanation to the wide spread suspicions of probable clash between the US and Korean ships or mistaken firing between the two.
     
    5. Why have the survivors been strictly separated and controlled since the tragedy happened? Why are they not allowed to say anything about it, though they know the truth best?
     
    According to JIG’s announcement, a North Korean submarine attacked Cheonan with a heavy torpedo and escaped without being detected at all. It means President Lee who is in charge of national security should take full responsibility for what happened and apologize to Korean people. The minister of defense, the joint chief of staff, and the naval chief of staff should do the same thing.
     
    JIG’s announcement did not answer any of the questions but left more suspicions. Now is the time for the Korean leaders to stop shifting responsibilities but taking them. They have to organize a new investigation group including civilian experts and opposition parties to find the whole truth answering all the questions above.
     
    Once again we express our deepest condolences to the families of the late sailors as we promise to do our best to reveal the truth and take the follow-up measures.
     
    May 20, 2010
    Rev. Kwon Young-Joung
    Peace and Reunification Committee
    Rev. Jeon Byung-Saeng
    Church and Society Committee
    The Presbyterian Church in the Republic of Korea

     
    Who is staging a War between North and South Korea?
    Tensions between North and South Korea continue to escalate: On Friday, North Korea blamed its southern neighbor of staging the sinking of its own warship, which killed 46 soldiers, denying any responsibility for the tragedy. 
     
    North Korea has also warned that any retaliation for the incident would lead to armed conflict, and potentially “all-out war.” North Korea’s denial runs at odds with a recent multinational probe that determined that a North Korea torpedo downed the ship. 
     
    Russian experts disagree and claim it would be incredibly simple for dozens of countries to obtain a Soviet Made torpedo, use it against a ship and claim afterwards it was fired from North Korea.
     
    On Monday, meanwhile, South Korea announced that it would take a series of measures against the North, including a drastic reduction in trade.
     
    Are we once again going back to an old recipe (already used twice) in the past 100 years? The economy is tanking, lets fix it and turn people’s attention with staging another war as the only proven business. 

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May 31, 2010 Posted by | EndTimes, GeoPolitics, Social Trends | , , , , , , , , , , , , , | 3 Comments

Did an American Mine Sink The South Korean Ship Cheonan?

  • There are too many unanswered questions and contradictory reports coming out of South Korea. From an initial outright denial that North Korea is involved to direct accusation of North Korea sinking  the Cheonan. The information is inconsistent. This is a false flag operation. It achieved its objective of making the Japanese retain the Okinawa military base for America. What is the big threat, such that the Americans need to maintain this base? Obviously, the Okinawa military base is for the encirclement of Russia and China!
     
  • Why didn’t the Cheonan detect an incoming torpedo. Can a single torpedo really cut an anti-submarine missile corvette in half? Yoichi Shimatsu, former editor of the Japan Times, environmental consultant and a commentator on Asian affairs for CCTV-9 Dialogue, provides a more plausible explanation.
     
    BEIJING – South Korean Prime Minister Lee Myung-bak has claimed “overwhelming evidence” that a North Korean torpedo sank the corvette Cheonan on March 26, killing 46 sailors. U.S. Secretary of State Hillary Clinton claimed that there’s “overwhelming evidence” in favor of the theory that North Korea sank the South Korean Navy warship Cheonan. But the articles of proof presented so far by military investigators to an official inquiry board have been scanty and inconsistent. There’s yet another possibility, that a U.S. rising mine sank the Cheonan in a friendly-fire accident.
     
    In the recent U.S.-China strategic talks in Shanghai and Beijing, the Chinese side dismissed the official scenario presented by the Americans and their South Korean allies as not credible. This conclusion was based on an independent technical assessment by the Chinese military, according to a Beijing-based military affairs consultant to the People Liberation Army.
     
    Hardly any of the relevant facts that counter the official verdict have made headline news in either South Korea or its senior ally, the United States.
     
    The first telltale sign of an official smokescreen involves the location of the Choenan sinking – Byeongnyeong Island (pronounced Pyongnang) in the Yellow Sea. On the westernmost fringe of South Korean territory, the island is dominated by a joint U.S.-Korean base for anti-submarine warfare (ASW) operations. The sea channel between Byeongnyeong and the North Korean coast is narrow enough for both sides to be in artillery range of each other.
     
    Anti-sub warfare is based on sonar and acoustic detection of underwater craft. Since civilian traffic is not routed through the channel, the noiseless conditions are near-perfect for picking up the slightest agitation, for example from a torpedo and any submarine that might fire it.
     
    North Korea admits it does not possess an underwater craft stealthy enough to slip past the advanced sonar and audio arrays around Byeongnyeong Island, explained North Korean intelligence analyst Kim Myong Chol in a news release. “The sinking took place not in North Korean waters but well inside tightly guarded South Korean waters, where a slow-moving North Korean submarine would have great difficulty operating covertly and safely, unless it was equipped with AIP (air-independent propulsion) technology.”
     
    The Cheonan sinking occurred in the aftermath of the March 11-18 Foal Eagle Exercise, which included anti-submarine maneuvers by a joint U.S.-South Korean squadron of five missile ships. A mystery surrounds the continued presence of the U.S. missile cruisers for more than eight days after the ASW exercise ended.
     
    Only one reporter, Joohee Cho of ABC News, picked up the key fact that the Foal Eagle flotilla curiously included the USNS Salvor, a diving-support ship with a crew of 12 Navy divers. The lack of any minesweepers during the exercise leaves only one possibility: the Salvor was laying bottom mines.
     
    Ever since an American cruiser was damaged by one of Saddam Hussein’s rising mines, also known as bottom mines, in the Iraq War, the U.S. Navy has pushed a crash program to develop a new generation of mines. The U.S. Naval Mine and Anti-Submarine Warfare Command has also been focused on developing counterparts to the fearsome Chinese naval “assassin’s mace,” which is propelled by a rocket engine.
     
    A rising mine, which is effective only in shallow waters, rests atop a small platform on the sea floor under a camouflage of sand and gravel. Its detection system uses acoustics and magnetic readings to pick up enemy ships and submarines. When activated, jets of compressed air or solid-fuel rockets lift the bomb, which self-guides toward the magnetic center of the target. The blast rips the keel, splitting the ship or submarine into two neat pieces, just as was done to the RKOS Cheonan.
     
    A lateral-fired torpedo, in contrast, “holes” the target’s hull, tilting the vessel in the classic war movie manner. The South Korean government displayed to the press the intact propeller shaft of a torpedo that supposedly struck the Cheonan. Since torpedoes travel between 40-50 knots per hour (which is faster than collision tests for cars), a drive shaft would crumble upon impacting the hull and its bearing and struts would be shattered or bent by the high-powered blast.
     
    The initial South Korean review stated that the explosive was gunpowder, which would conform to North Korea’s crude munitions. This claim was later overturned by the inquiry board, which found the chemical residues to be similar to German advanced explosives. Due to sanctions against Pyongyang and its few allies, it is hardly credible that North Korea could obtain NATO-grade ordnance.
     
    Thus, the mystery centers on the USNS Salvor, which happened to be yet right near Byeongyang Island at the time of the Cheonan sinking and far from its home base, Pearl Harbor. The inquiry board in Seoul has not questioned the officers and divers of the Salvor, which oddly is not under the command of the 7th Fleet but controlled by the innocuous-sounding Military Sealift Command. Diving-support ships like the Salvor are closely connected with the Office of Naval Intelligence since their duties include secret operations such as retrieving weapons from sunken foreign ships, scouting harbor channels and laying mines, as when the Salvor trained Royal Thai Marine divers in mine-laying in the Gulf of Thailand in 2006, for example.
     
    The Salvor’s presence points to an inadvertent release of a rising mine, perhaps because its activation system was not switched off. A human error or technical glitch is very much within the realm of possibility due to the swift current and strong tides that race through the Byeongnyeong Channel. The arduous task of mooring the launch platforms to the sea floor allows the divers precious little time for double-checking the electronic systems.
     
    If indeed it was an American rising mine that sank the Cheonan, it would constitute a friendly-fire accident. That in itself is not grounds for a criminal investigation against the presidential office and, at worst, amounts only to negligence by the military. However, any attempt to falsify evidence and engage in a media cover-up for political purposes constitutes tampering, fraud, perjury and possibly treason.

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May 31, 2010 Posted by | GeoPolitics | , , , , , | 4 Comments

Attack Against South Korean Ship Looks Like False Flag Operation!

  • The Illuminati is stepping up their preparation for World War 3. This is a war against all the sheeple of the world. They are lining up their forces to start the Zionist West vs World Muslim war. This is their trigger for the Satanic World War 3.
     
  • In Asia, it is quite clear they need to cripple China. They cannot afford to let China go on its own and destroy their Illuminist hegemony over the banking, financial and fiat currency central banking cartel. Thus, I view the sinking of the Cheonan as pre-positioning for a war with China. They intend to drag China into a massive war using North Korea, India, Pakistan ….etc. They need to go ‘hot’ in the middle east and North Korea simultaneously. This will prevent China from focusing their military forces in support of Iran.
     
    While international investigators have accused North Korea of sinking a South Korean patrol corvette in March, China has taken a more cautious position. Investigative journalist and RT contributor Wayne Madsen says it is because Beijing suspects there was greater deception at work.
     
    “The Cheonan [navy corvette] was sunk by this torpedo that was later to be discovered to have been of German manufacture. Germany said it sells no military weapons to North Korea. This thing is starting to look like a classic false flag operation,” Wayne Madsen says.
     
    “Kim Jong-Il who very rarely travels – and when he does, he only travels by train – went to Beijing. My sources in Beijing say that he went to Beijing, that Chinese authorities said that North Korea did this, he denied it. They were satisfied with his response,” Madsen adds. “Now the Chinese are very suspicious of the US’ intentions in richening things up in the Korean peninsula.” 

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May 31, 2010 Posted by | GeoPolitics | , , , , , , | 3 Comments

Israel Stations Nuclear Missile Subs Off Iran!

  • It is a matter of time before the war with Iran starts. This war makes no sense whatsoever. The biggest threat to the middle east and world peace is the Zionist regime and its control over America. This war will be a disaster for everybody and will be the start of World War 3.
     
  • Iran does not possess nuclear weapons and has publicly declared many times it has no intention of building nuclear weapons. Iran has abide by the Nuclear Non Proliferation Treaty (NNPT) and has also submitted itself to numerous outside inspections. This is not the case with Israel, the 4/5th largest nuclear power in the world. It has persistently refused to sign the NNPT. It has also attempted to sell nuclear weapons to apartheid South Africa in the past.
     
  • The Illuminist controlled Zionist Israel intends to start World War 3 to fulfil the Satanic World War 3 Plan. They are using the western MSM to project the idea that they are concerned about Iran’s non existent nuclear weapons program. This is pure propaganda! This is total genocidal madness!
      
    Israel stations nuclear missile subs off Iran
    Three German-built Israeli submarines equipped with nuclear cruise missiles are to be deployed in the Gulf near the Iranian coastline. The first has been sent in response to Israeli fears that ballistic missiles developed by Iran, Syria and Hezbollah, a political and military organisation in Lebanon, could hit sites in Israel, including air bases and missile launchers.
     
    The submarines of Flotilla 7 — Dolphin, Tekuma and Leviathan — have visited the Gulf before. But the decision has now been taken to ensure a permanent presence of at least one of the vessels. The flotilla’s commander, identified only as “Colonel O”, told an Israeli newspaper: “We are an underwater assault force. We’re operating deep and far, very far, from our borders.”
     
    Each of the submarines has a crew of 35 to 50, commanded by a colonel capable of launching a nuclear cruise missile. The vessels can remain at sea for about 50 days and stay submerged up to 1,150ft below the surface for at least a week. Some of the cruise missiles are equipped with the most advanced nuclear warheads in the Israeli arsenal.
     
    The deployment is designed to act as a deterrent, gather intelligence and potentially to land Mossad agents. “We’re a solid base for collecting sensitive information, as we can stay for a long time in one place,” said a flotilla officer.

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May 31, 2010 Posted by | Economics | , , , , | Comments Off on Israel Stations Nuclear Missile Subs Off Iran!

Free Gaza Flotilla!

May 31, 2010 Posted by | Social Trends | , , | Comments Off on Free Gaza Flotilla!

Ray McGovern Gives His Insight into The Coming Israel/Iran Conflict!

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May 29, 2010 Posted by | GeoPolitics | , , , , , , , , | Comments Off on Ray McGovern Gives His Insight into The Coming Israel/Iran Conflict!

Euro Crisis, The Hidden Agenda! Competitive Currency Devaluation, A Race To The Bottom!

  • All fiat currencies are heading to the bottom of the trash heap. The USD appears strong not because it is a sound currency. It is a fatally flawed currency. It is just that the Wall Street banksters have chosen to attack the Euro and are continuing to destabilize the Eurozone. So the USD appears relatively strong. If you measure all fiat currencies against gold, the ultimate currency, it is clear. All fiat currencies are being bashed by gold. No currency has been able to hold its own against the gold wrecking ball for the past 8 years! Sol Palha gives his perspective:
      
    While everyone is focusing on the so called obvious factors, they have missed the most important factor; the real reason behind the crisis. The crisis started in Greece and the top EU members knew they were going to bail out Greece and potentially any other member that needed help, but they pretended that they would not.  One of the obvious reasons for the bailout was not to protect Greece, but to save the bond holders; most of the bond holders are foreigners.  That’s the same reason the banks were bailed out in the US, to protect the large shareholders; it’s all a game of smoke and mirrors.  
     
    Our hypothesis is that the main reason that the Euro crisis was allowed to evolve was to deflate the Euro. Note that we have stated many times in the past that we have now entered into the competitive currency devaluation era, where the theme is or will soon be “devalue or die”.  Or maybe we should add “devalue or die trying to”, for nations are going to do whatever it takes to keep their products competitive in the global market. We recently spoke of this phenomenon in two separate articles  
    Currency-devaluation-a-race-to-the-bottom and the devalue or die era is picking up steam
     
    Germany was knocked out of the top place and replaced by China as the world’s largest exporter and that must have hurt. Thus by allowing the crisis to progress, the EU could, in fact, devalue the Euro without actually issuing new currency. And then when things started to look really bad, they could pretend to help by approving a huge package, but this package would now devalue the euro even more. Thus with one stone they killed two birds in the sense that it produced double the effect. If they had approved a bailout package immediately, the euro would not have shed as much as it did.  In a matter of months the Euro dropped almost 24%; in the currency markets, this is considered to be a very large move.  
     
    Another factor to consider is that no government wants to pay its debt in a stronger currency; governments borrow money so that they can pay it back with cheap currency.   
     
    Thus while one currency might appear to be appreciating against another; the truth is that they are all falling down, some faster than others.   Take a look at some long term commodity charts, and you will notice that most of them are in up trends, regardless of which currency they are priced. For example, a 3 year chart of gold priced in any currency shows that it’s in an uptrend.   The race to the bottom has picked up in intensity. We would not be surprised now if some sort of crisis hits Asia; this would complete the circle perfectly.  A position in precious metals is recommended. View this as a hedge/insurance against another potential crisis; if you have no position wait for strong pull backs before deploying new money.

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May 29, 2010 Posted by | Economics | , , , , , , , , , | 3 Comments

Russia Wants ‘100% Proof’ N.Korea Sunk Ship!

  • Both Russia and China are highly skeptical about the conclusions given by the west. Of course, the western MSM will attempt to sell the idea that both Russia and China are supportive of the report. It is an ongoing endless propaganda war. The Chinese and Russians are not stupid. Any attempt by Kim Jong Il to torpedo a South Korean warship will lead to all out war. North Korea will be bombed out of existence. Defeat and annihilation for Kim Jong Il is a certainty. So why would he do such a thing? He may be a narcissistic megalomaniac but self-preservation instinct is usually pretty strong in such people.
      
    Russia will not support efforts to punish North Korea for sinking a South Korean warship until it is fully convinced Pyongyang was behind the incident, a foreign ministry spokesman said Thursday. “We need to receive 100 percent proof of North Korea’s role in the sinking of the corvette,” the spokesman, Igor Lyakin-Frolov, was quoted as saying by the Interfax news agency.
     
    “Our specialists are currently studying the materials of the investigation. We need to draw our
    own conclusions about what happened. Everything will depend on the situation and the body of evidence.” The comments came a day after Russia announced that it was sending a team of experts to South Korea to assess the evidence about North Korea’s involvement in the sinking of the warship, which left 46 sailors dead.
     
    In a separate report, a senior source in Russia’s navy suggested that Moscow was unhappy about being excluded from the lengthy multinational investigation into the sinking of the Cheonan, a 1,200-tonne corvette.
     
    The investigation — which included experts from South Korea, the United States, Australia,
    Britain and Sweden — concluded last week that there was overwhelming evidence that the ship had been sunk by a North Korean torpedo.
     
    “With the participation of Russian specialists, the results of the investigation into the incident might have been more complete and objective,” the Russian navy source told Interfax.
     
  • See also:
     
    Beijing Suspects False Flag Attack on South Korean Corvette!
    The Sinking of The Cheonan: Another Gulf of Tonkin Incident?!
    Questions Raised Following Cheonan Announcement!
    The Sinking of the Cheonan: We Are Being Lied To!
    Probe Concludes German Made Torpedo Sank South Korea Ship!  
     

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May 29, 2010 Posted by | GeoPolitics | , , , , | 4 Comments

Beijing Suspects False Flag Attack on South Korean Corvette!

  • Yes, it was very likely a false flag attack. The words and reports that came out just after the incident clearly contradicts what the South Koreans are saying now. Hopefully, this is just a ploy to push the Hatoyama government away from removing the bases in Okinawa. But I still think one of the main purpose is the positioning of military forces for the coming World War 3. Russia and China are being encircled by US forces. Wayne Madsen reports:
      
    WMR’s intelligence sources in Asia suspect that the March attack on the South Korean Navy anti-submarine warfare (ASW) corvette, the Cheonan, was a false flag attack designed to appear as coming from North Korea.
     
    One of the main purposes for increasing tensions on the Korean peninsula was to apply pressure on Japanese Prime Minister Yukio Hatoyama to reverse course on moving the U.S. Marine Corps base off Okinawa. Hatoyama has admitted that the tensions over the sinking of the Cheonan played a large part in his decision to allow the U.S. Marines to remain on Okinawa. Hatoyama’s decision has resulted in a split in the ruling center-left coalition government, a development welcome in Washington, with Mizuho Fukushima, the Social Democratic Party leader threatening to bolt the coalition over the Okinawa reversal.
     
    The Cheonan was sunk near Baengnyeong Island, a westernmost spot that is far from the South Korean coast, but opposite the North Korean coast. The island is heavily militarized and within artillery fire range of North Korean coastal defenses, which lie across a narrow channel.
     
    The Cheonan, an ASW corvette, was decked out with state-of-the-art sonar, plus it was operating in waters with extensive hydrophone sonar arrays and acoustic underwater sensors. There is no South Korean sonar or audio evidence of a torpedo, submarine or mini-sub in the area. Since there is next to no shipping in the channel, the sea was silent at the time of the sinking.
     
    However, Baengnyeong Island hosts a joint US-South Korea military intelligence base and the US Navy SEALS operate out of the base. In addition, four U.S. Navy ships were in the area, part of the joint U.S-South Korean Exercise Foal Eagle, during the sinking of the Cheonan. An investigation of the suspect torpedo’s metallic and chemical fingerprints show it to be of German manufacture. There are suspicions that the US Navy SEALS maintains a sampling of European torpedoes for sake of plausible deniability for false flag attacks. Also, Berlin does not sell torpedoes to North Korea, however, Germany does maintain a close joint submarine and submarine weapons development program with Israel.
     
    The presence of the USNS Salvor, one of the participants in Foal Eagle, so close to Baengnyeong Island during the sinking of the South Korean corvette also raises questions. The Salvor, a civilian Navy salvage ship, which participated in mine laying activities for the Thai Marines in the Gulf of Thailand in 2006, was present near the time of the blast with a complement of 12 deep sea divers.
     
    Beijing, satisfied with North Korea’s Kim Jong Il’s claim of innocence after a hurried train trip from Pyongyang to Beijing, suspects the U.S. Navy’s role in the Cheonan’s sinking, with particular suspicion on the role of the Salvor. The suspicions are as follows:
     
    1. The Salvor engaged in a seabed mine-installation operation, in other words, attaching horizontally fired anti-submarine mines on the sea floor in the channel.
     
    2. The Salvor was doing routine inspection and maintenance on seabed mines, and put them into an electronic active mode (hair trigger release) as part of the inspection program.
     
    3. A SEALS diver attached a magnetic mine to the Cheonan, as part of a covert program aimed at influencing public opinion in South Korea, Japan and China.
     
    The Korean peninsula tensions have conveniently overshadowed all other agenda items on Secretary of State Hillary Clinton’s visits to Beijing and Seoul.
     
  • See also:
     
    The Sinking of The Cheonan: Another Gulf of Tonkin Incident?!
    Questions Raised Following Cheonan Announcement!
    The Sinking of the Cheonan: We Are Being Lied To!
    Probe Concludes German Made Torpedo Sank South Korea Ship!  

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May 29, 2010 Posted by | GeoPolitics | , , , , , | 4 Comments

Gold at $36,000 Not as Ridiculous as It Sounds? Will Gold Replace Currencies?

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  • Ben Davis :
     
    ‘Gold should be viewed not as a commodity, but as a cash supplement, ….. There’s been such proliferation of currency,…. As a consequence, gold is very undervalued. …. I could be really obtuse and say $36, 000, ….. But actually it’s not as ridiculous as it might sound. …..  If all the reported Fort Knox gold was re-valued at $36,000 per ounce, it would pay off all the debt in the US…’

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May 29, 2010 Posted by | Economics | , , , , , , , , | 1 Comment