Socio-Economics History Blog

Socio-Economics & History Commentary

Gaza Massacre: War Over, Reparations Battle Rages On!

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

Genocide and Ethnic Cleansing by Zionist '666' Israel !!!

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December 28, 2011 Posted by | GeoPolitics, Social Trends | , , , , , , , , | Comments Off on Gaza Massacre: War Over, Reparations Battle Rages On!

UK To Close Borders, Evacuate Expats If Euro Collapses!

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Can The MSM Pull The Plug on Ron Paul?

Vote Ron Paul for 2012 !

December 28, 2011 Posted by | GeoPolitics, Social Trends | , , , | Comments Off on Can The MSM Pull The Plug on Ron Paul?

Mainstream Media: Dumbing It Down!

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The Sovereign Debt Crisis Endgame: Japan Makes Another Move!

2011 Trade Balance in billion ¥ . Source: http://www.testosteronepit.com/

  • When Japan, the 3rd largest economy in the world, goes under, will the rest of Asia escape? I don’t think so, unless you are living off the land in some fishing village! The world is doomed !

    The Endgame: Japan Makes Another Move
    by Wolf Richter,  www.testosteronepit.com
    It’s a doozie. On December 24, the cabinet approved a draft budget for fiscal 2012 whose headline numbers were horrid enough: ¥90.3 trillion ($1.173 trillion) in outlays, ¥42.3 trillion in tax revenues, and a deficit of ¥48 trillion. 49% of the outlays are to be covered by issuing bonds, a record even for Japan. But it gets worse. Accounting shenanigans gloss over the fiasco by removing two items from the general budget: the reconstruction budget of ¥3.8 trillion and pension payments of ¥2.6 trillion. When they’re included, the deficit jumps to ¥54.4 trillion.
Fiscal 2012 Draft Budget trillion
General budget ¥  90.3
Reconstruction budget, left out of general budget ¥    3.8
Pension payments left out of general budget ¥    2.6
Total budget ¥  96.7
Estimated tax revenue ¥  42.3
Deficit to be funded by borrowing ¥ -54.4
Percent of budget to be funded by borrowing 56.2%
  • The Japanese government will have to borrow 56.2% of every yen it spends in 2012. But it gets even worse! Japan regularly passes “supplementary budgets” during the year—four of them in 2011, the last one on December 1 for ¥2 trillion. So there may be a few in 2012 as well, which could push borrowing requirements toward a dizzying 60% of outlays.

    Despite the near-zero interest rate policy the Bank of Japan has been pursuing for years, interest expense on the debt—at 230% of GDP by far the highest in the developed world—will eat up ¥21.9 trillion in 2012, a stunning 51.8% of tax revenues! If yields on 10-year JGBs were to rise from 1% to 2%…. Better not think that way. Keeping yields near zero is simply a matter of survival.

     Funding these deficits and rolling over the gargantuan debt has been made possible by the institutional setup and cohesive psychology of Japan Inc.: 95% of JGBs are held within Japan. Individuals directly or indirectly hold over 50%. Government-owned or controlled institutions hold over 40%. Among them: the Government Pension Investment Fund, the government-owned Post Bank, financial institutions the government can lean on, and the BoJ. Foreigners hold 5% for decorative purposes.

    But two of the strengths of the Japanese economy that have supported the absurd deficit levels—a high savings rate and a large trade surplus—have collapsed. The savings rate is in the low single digits, and the trade surplus has turned into a ¥2.2 trillion ($29 billion) trade deficit in 2011 through November.

    … for more click here!

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December 28, 2011 Posted by | Economics | , , , , | Comments Off on The Sovereign Debt Crisis Endgame: Japan Makes Another Move!

Debt Crisis 2012: Forget Europe, Check Out Japan!

Graphic Source: Awesome.good.is, 20 Dec. 2011

  • This coming sovereign debt collapse will affect all regions. Asia will not escape. China has its problems. Its small domestic economy will not be able to generate enough jobs for its citizens. Its property market is going belly up after years of rampant speculation. This will cause a debt meltdown locally. But look at Japan! There is no way the country with debt to GDP of 220% will escape the coming collapse. The JPY is toast !

    Debt Crisis 2012: Forget Europe, Check Out Japan! 
    By EconMatters, http://www.econmatters.com/ 
    The recent massive demand for ECB’s LTRO (Long Term Refinancing Operation)–nearly 490 billion euro in three-year 1% loans from 523 banks–only confirmed the suspicion of some market participants that European banks are having financing issues, and that the LTRO is unlikely to flow into the Euro Zone supporting the troubled sovereign debt and economy.

    In addition to the current Euro crisis which we discussed here and here, Japan, the world’s third largest economy, could have its own debt crisis as early as 2012 bigger than the Euro Zone. (see graph top of post)

    Japan has long been mired by an aging population, sluggish growth and deflation since an asset bubble popped in the early 1990s.  The country already has the highest debt-to-GDP ratio in the world–about 220% according to the OECD — and a debt load projected at a record 1 quadrillion yen this fiscal year.


    Based on a plan approved by the Cabinet in Tokyo on 23 Dec, the country is now looking to sell 44.2 trillion yen ($566 billion) of new bonds to fund 90.3 trillion yen ($1.16 trillion) of spending in fiscal year 2012 starting 1 April.  That will raise Japan budget’s dependence on debt to an unprecedented 49%.

    According to Bloomberg, the government projects new bond issuance will surpass tax revenue for a fourth year. Receipts from levies have shrunk about a third this year after peaking at 60.1 trillion yen in 1990.  Non-tax revenues including surplus from foreign exchange reserves also halved to 3.7 trillion yen. Social-security expenses, now at 250% of the level two decades ago, will account for 52% of general spending next year

    Moreover, an April 2011 analysis by CQCA Business Research showed that “Japan has an extremely near-future tilted debt maturity timeline” (see chart below).  CQCA estimated that in 2010, Japan was able to push 105 trillion yen into the future, but concluded it is doubtful that Japan will be able to continue this.

    Indeed, as one of the major and relatively stable economies in the world, and since almost all of its debt are held internally by the Japanese citizens or business, Japan has been able to still borrow at low rates (10-year bond yield at 0.98% as of Dec. 26, 2011), partly thanks to the Euro debt crisis going on for more than two years.

    So as long as Japan could keep financing a majority of its debt internally without going through the real test of the brutal bond market, the country most likely would not experience a debt crisis like the one currently festering in Europe.

    But the chips seem to have stacked against Japan now.  On top of the new and re-financing needs, the Japanese government estimated that the economy will shrink 0.1% this fiscal year citing supply-chain disruptions from the earthquake and tsunami disaster in March, the strengthening of the yen and the European debt crisis.  Moreover, S&P said in November that Japan might be close to a downgrade.  After a sovereign debt downgrade to Aa3 by Moody’s in August, 2011, it’d be hard pressed to think Japanese bond buyers would shrug off yet another credit downgrade.  

    Burgeoning debt, coupled with the global and domestic economic slowdown, and continuing political turmoil (Japan has had three Prime Ministers in the last two years, and the current PM Noda’s popularity has fallen since he took office in September), would suggest it is unlikely that Japan could continue to self-contain its debt.

    It looks like its massive debt could finally catch up with Japan in the midst the sovereign debt crisis that’s making a world tour right now.  While some investors might see Japan as a bargain, it remains to be seen whether the country will continue beating the odds of a debt crisis. 

Chart Source: CQCAbusinessresearch.com, April 2011

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December 28, 2011 Posted by | Economics | , , , , , | Comments Off on Debt Crisis 2012: Forget Europe, Check Out Japan!

James Rickards Sees ‘Currency Wars’ Destroying Dollar!

  • QE is destabilizing the world’s financial and monetary system. It is undoubtedly currency warfare. QE means currency debasement. Countries which peg their currencies to the USD are doing competitive devaluations to maintain their export competitiveness and thus economic growth. But taken to its logical end, all fiat currencies will be debased, hyperinflation will kick in … The death knell of unbacked fiat currencies will sound loud and clear.
  • It is not just the USD which will be toast. All major fiat currencies are toast. Minor currencies will not survive the hyperinflation onslaught. In the midst of the coming global monetary crisis, when everyone no longer have faith in fiat currencies and are crying out for a solution … the Illuminists will introduce their One World Currency backed by gold. The sheeple will flock to it because it is good as gold ! Understand the scam?! How do you get the world to accept a new Monetary Hegemony, One World Currency? By destroying / destabilizing all fiat currencies via hyperinflation!

    James Rickards sees ‘Currency Wars’ destroying dollar! 
    By Jon Rosen, http://www.usatoday.com/ 
    To most Americans, the term “quantitative easing” is arcane economic jargon, introduced following the global financial crisis and, like most U.S. policies intended to spur recovery, yet to make much progress in reducing unemployment.

    Yet to author James Rickards, QE, as it is known, is the United States‘ secret weapon in an unfolding global war — one fought not with soldiers, tanks or drones but with currencies.

    In driving down long-term interest rates by flooding the market with freshly printed currency, the policy, Rickards says, is a combative attempt to boost U.S. exports by weakening the dollar while undermining the competitiveness of China and other U.S. trading partners.

    As he argues in his new book, Currency Wars: The Making of the Next Global Crisis, QE is an “exercise in deception” that offers little chance of promoting long-term economic recovery. Worse, it has left the dollar highly vulnerable to speculation and, ultimately, a cataclysmic crash.

    According to Rickards, a Wall Street insider with more than 30 years’ experience as a financial adviser and investment banker, the championing of QE by Federal Reserve Chairman Ben Bernanke is the “greatest gamble in the history of finance,” one that is setting the stage for a global financial meltdown far greater than the last.

    While readers may view Rickard’s argument as scaremongering, the author adds heft to his analysis by exploring the disastrous history of attempts to promote economic growth through currency devaluation. According to Rickards, the currency war that began when QE was launched, creating growing exchange rate antagonism between the U.S. and China, is the world’s third in the past 100 years.

    The first, which began after World War I when Germany sought to devalue its currency in an effort to boost postwar recovery, contributed to two of the 20th century’s most concentrated episodes of human suffering: the Great Depression and World War II.

    Currency War II, which ramped up in the early 1970s when the Nixon administration orchestrated a stark devaluation of the dollar, did not result in global cataclysm but did produce the worst economic crisis since the Depression, with massive unemployment, runaway inflation and a huge surge in the price of oil.

    As in the days of Nixon, Rickards argues, current U.S. government efforts to weaken the dollar have placed the U.S. economy on an unsustainable path, one made more treacherous by rising mountains of debt, increased global interconnectedness and a financial system more concentrated than before the 2008 crisis.

    … for more click here!

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December 28, 2011 Posted by | Economics | , , , , , , , , , | Comments Off on James Rickards Sees ‘Currency Wars’ Destroying Dollar!

Gonzalo Lira: A Run On The Global Banking System – How Close Are We?

  • I have been advising people to accumulate physical gold/silver instead of fiat currencies. Keep the minimum amount of fiat currencies needed in your bank account. I am not a buyer or holder of shares, even gold/silver mining shares. I am a little conflicted when it comes to these mining shares. Historically, they outperform physical bullion in the crisis we are heading into.
  • But having said that, with the rampant theft by the banksters in the MF Global collapse, I am not entirely sure they won’t rob you even if the shares are in a private account in your own name. It’s like your retirement savings, 401K … How do you know the US government won’t pull a shenanigan and ‘help’ keep your money ‘safe’ in US treasuries? Speaking for myself I am only in physical bullion. (emphasis mine)

    A Run On The Global Banking System—How Close Are We? 
    by Gonzalo Lira, http://gonzalolira.blogspot.com/ 
    Nine weeks after its bankruptcy, the general public still hasn’t quite realized the implications of the MF Global scandal.

    My own sense is, this is the first tremor of the earthquake that’s coming to the global financial system. And how the central banks and financial regulators treated the “Systemically Important Financial Institutions” that had exposure to MF Global—to the detriment of the ordinary, blameless customer who got royally ripped off in its bankruptcy—is both the template of how the next financial crisis will be handled, and an accelerator that will make the next crisis happen that much sooner.

    So first off, what happened with MF Global?
    Simple: It went bankrupt—because it made bad bets on European sovereign debt, by way of leveraging positions 100-to-1. Yeah, I know: Stupid. Anyway, they went bankrupt—which in and of itself is no big deal. It’s not as if it’s the first time in history that a brokerage firm has gone bust. But to me, the big deal in this case was the way the bankruptcy was handled.

    Now there are several extremely serious aspects to the MF Global case: Specifically, how their customers were shut out of their brokerage accounts for over a week following the bankruptcy, which made it impossible for those customers to sell out of their positions, and thus caused them to lose serious money; and of course how MF Global was more adept than Mandrake the Magician at making money disappear—about $1 billion, in fact, which still hasn’t turned up. These are quite serious issues which merit prolonged discussion, investigation, prosecution, and ultimately jailtime.

    But for now, I want to discuss one narrow aspect of the MF Global bankruptcy: How authorities (mis)handled the bankruptcy—either willfully or out of incompetence—which allowed customer’s money to be stolen so as to make JPMorgan whole.

    From this one issue, it seems clear to me that we can infer what will happen when the next financial crisis hits in the near term future.
    ……
    when MF Global went bankrupt, these segregated accounts—that is, the content of those safe deposit boxes—were taken away from their rightful owners—that is, MF Global’s customers—and then used to pay off other creditors: That is, JPMorgan.
    …..
    In the case of MF Global, what should have happened was for all the customers to get their money first. Then everyone else—including JPMorgan—would have picked over the remaining scraps. And the monies MF Global had already pledged to JPMorgan? They call it clawback for a reason.

    The Chicago Mercantile Exchange, which handled the bankruptcy, should have done this—but instead, the Merc was more concerned with making JPMorgan whole than with protecting the money that rightfully belonged to MF Global’s 40,000 customers.

    Thus these 40,000 MF Global customers had their money stolen—there’s no polite way to characterize what happened. And this theft was not carried out by MF Global—it was carried out by the authorities who were charged with handling the firm’s bankruptcy.
    …..
    in short, ordinary investors. Ordinary people—and they got screwed by the regulators, for the sake of protecting JPMorgan and other big fry who had exposure to MF Global.

    That, in a nutshell, is what happened. Now, what does this mean?
    It means that nobody’s money is safe. It means that regulators care more about protecting the so-called “Systemically Important Financial Institutions” than about protecting Ordinary Joe investors. It means that, when crunchtime comes, central banks and government regulators will allow SIFI’s to get better, and let the Ordinary Joes get f#####.

    So far, so evil—but here comes the really troubling part: It is an open secret that there are more paper-assets than there are actual assets. The markets are essentially playing musical chairs—and praying that the music never stops. Because if it ever does—that is, if there is ever a panic, where everyone decides that they want their actual asset instead of just a slip of paper—the system would crash.

    And unlike with fiat currency, where a central bank can print all the liquidity it wants, you can’t print up gold bullion. You can’t print up a silo of grain. You can’t print up a tankerful of oil.

    Now, question: When is there ever a panic? When is there ever a run on a financial system?

    Answer: When enough participants no longer trust the system. It is the classic definition of a tipping point. It’s not that all of the participants lose faith in the system or institution. It’s not even when most of the participants lose faith: Rather, it’s when a mere some of the participants decide they no longer trust the system that a run is triggered.
    ….
    As I write this, a lot of investors whom I know personally—who are sophisticated, wealthy, and not at all the paranoid type—are quietly pulling their money out of all brokerage firms, all banks, all equity firms. They are quietly trading out of their paper assets and going into the actual, physical asset. Note that they’re not trading into the asset—they’re simply exchanging their paper-asset for the real thing.
    ……
    “The MF Global scandal has made it clear that the integrity of the system has disappeared,” said a good friend of mine, Tuur Demeester, who runs Macrotrends, a Dutch-language newsletter out of Brugge. “The banks are insolvent, the governments are insolvent, and all that’s left is for the people to realize what’s going on—and that will start a panic.”

    He hit it on the head: Some of the more sophisticated people—like Tuur, like some of my acquaintances, (like myself, frankly)—have realized that the MF Global scandal means that there is no safety for any paper investment: The integrity of the systems has been completely shattered. If in the face of one medium-sized brokerage firm going under, the regulators will openly allow ordinary people to be ripped off for the sake of protecting the so-called “Systemically Important Financial Institutions”—in this case JPMorgan—what will happen if there is a system-wide run? What if two or three MF Globals happen simultaneously?

    I think we know the answer. And I think we all know the answer to the question of whether there will be crisis flashpoint in the near-term future: After all, as Demeester pointed out, all the banks and all the governments are broke. Thus it’s only a matter of time before they come for your money.
    ….
    Now, because of this open kleptocracy and cronyism being shown by the financial authorities in the wake of the MF Global bankruptcy, we’ve been obliged to put together a new Scenario, devoted exclusively to preparing for a run on the markets: What to do in order to protect your assets from regulatory malfeasance, if there is a system-wide MF Global-type breakdown and a subsequent run on the entire financial system.

    And there will be such a run on the system: It’s only a matter of time. In fact, the handling of the MF Global affair has sped up the timeframe for this run on the system, because the forward-edge players—such as Demeester, myself, and my other acquaintances who understand the implications of the bankruptcy—realize that the regulators will side with the banksters, and not the ordinary investors: So we are preparing accordingly.

    Once there is a full-on panic, anyone with money in the system will lose at least a big chunk of it, in one of two ways, or a combination thereof….. … once the general public catches on to what we already know . . . oh boy.

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December 28, 2011 Posted by | Economics | , , , , , , , , , , | 2 Comments

Gold vs Paper Money! Paper Money Collapse Endgame! A Coming Breakdown of The Global Financial System!

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Detlev Schlichter on The Keiser Report: Currency Wars And The Coming Monetary Breakdown!

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The Globalization of War – Towards World War 3!


  • The world’s attention is increasingly focused on Syria and Iran as the region continues to move toward military confrontation. Less noticed, however, is that the pieces are being put into place for a truly global conflict, with military buildup taking place in every region and threatening to draw in all of the world’s major powers.

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December 27, 2011 Posted by | GeoPolitics | , , , , , , , , , , | 1 Comment

UK Treasury Plans for Euro Failure!

A break up of the euro would have a devastating impact on the UK. HSBC economists have warned that it could trigger a global depression. Photo: Alamy

  • All the signs are there for a global monetary collapse. Fiat currencies are backed by nothing and are a CONfidence Job! The bullion banksters are hitting gold/silver hard to prevent a flight to real money. They want the world to move from Euro, UKP, JPY …. and finally to USD as one fiat currencies after another detonates. Of course, the endgame is an implosion of the USD.
  • The sheeple do not understand this, they are being herded to the USD to be slaughtered. When the endgame of the USD is reached, the plug will be pulled, the USD will collapse and gold/silver will rise astronomically! Of course, the Illuminists have gathered all the physical gold necessary for their One World Currency backed by gold. Do not be concerned with the day-to-day fluctuation of gold/silver prices. Let me reassure you with this: Remember the Golden Rule! He who has the gold makes the rules!

    Treasury plans for euro failure! 
    By , http://www.telegraph.co.uk/ 
    The Government is considering plans to restrict the flow of money in and out   of Britain to protect the economy in the event of a full-blown euro break-up.

    The Treasury is working on contingency plans for the disintegration of the single currency that include capital controls. The preparations are being made only for a worst-case scenario and would run alongside similar limited capital controls across Europe, imposed to reduce the economic fall-out of a break-up and to ease the transition to new currencies.

    Officials fear that if one member state left the euro, investors in both that country and other vulnerable eurozone nations would transfer their funds to safe havens abroad. Capital flight from weak euro nations to countries such as the UK would drive up sterling, dealing a devastating blow to the Government’s plans to rebalance the economy towards exports.

    Earlier this year, Switzerland was forced to peg its currency to the euro to protect the economy after a massive appreciation in the Swiss franc due to spiralling fears over Europe.

    The plans emerged as Spain’s new finance minister Luis de Guindos warned the country’s economy was set for negative growth in the last quarter.

    Speaking yesterday he warned the next two months “are not going to be easy”. Britain’s response to the possible break up of the euro would reflect measures taken by Argentina when it dropped the dollar peg in 2002, according to sources.

    In addition to the risk of an appreciating currency, dealing with potential UK corporate exposures to the euro poses a considerable challenge for the Treasury. Britain’s top four banks have about £170bn of exposure to the troubled periphery of Greece, Ireland, Italy, Portugal and Spain through loans to companies, households, rival banks and holdings of sovereign debt. For Barclays and Royal Bank of Scotland, the loans equate to more than their   entire equity capital buffer.

    … for more click here!

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December 27, 2011 Posted by | Economics | , , , , , , , , , , , | Comments Off on UK Treasury Plans for Euro Failure!

China, Japan To Back Direct Trade of Currencies Bypassing Dollar!

  • The Chinese and Japanese know what is about to happen. The monetary endgame is a collapse of the USD. The interbank forex market trades using the USD as base currency. All other currencies are quoted against the USD. So when you want to go from JPY to CNY, you need to go from JPY to USD, then from USD to CNY. When the USD collapses, the current interbank forex system will be frozen dead. The only way for countries to do foreign exchange for trade settlement is via direct agreements between individual countries. This is essentially what is happening with this new forex agreement between Japan and China (ie. a direct Chinese central bank to Japanese central bank agreement to exchange CNY for JPY and vice versa).
  • This is an extremely significant event. It says: the 2nd and 3rd largest economies are moving away from reliance of the USD. It spells the eventual doom of the USD. Politically, this is a major threat to the Anglo-American (western) Illuminist’s monetary hegemony. Will the western Illuminati give up their stranglehold of a world reserve currency? I don’t think so! War is brewing between the west and China over this issue! Yes! Tt is World War 3 and likely to start in 2H2012!

    China, Japan to Back Direct Trade of Currencies! 
    By Toru Fujioka, http://www.bloomberg.com/ 
    Japan and China will promote direct trading of the yen and yuan without using dollars and will encourage the development of a market for companies involved in the exchanges, the Japanese government said.

    Japan will also apply to buy Chinese bonds next year, allowing the investment of renminbi that leaves China during the transactions, the Japanese government said in a statement after a meeting between Prime Minister Yoshihiko Noda and Chinese Premier Wen Jiabao in Beijing yesterday. Encouraging direct yen-yuan settlement should reduce currency risks and trading costs, the Japanese and Chinese governments said.

    China is Japan’s biggest trading partner with 26.5 trillion yen ($340 billion) in two-way transactions last year, from 9.2 trillion yen a decade earlier. The pacts between the world’s second- and third-largest economies mirror attempts by fund managers to diversify as the two-year-old European debt crisis keeps global financial markets volatile.

    “Given the huge size of the trade volume between Asia’s two biggest economies, this agreement is much more significant than any other pacts China has signed with other nations,” said Ren Xianfang, a Beijing-based economist with IHS Global Insight Ltd.

    Currency Swap
    China also announced a 70 billion yuan ($11 billion) currency swap agreement with Thailand last week as part of a plan outlined in October to promote the use of the yuan in the Association of Southeast Asian Nations and establish free trade zones.

    Central banks from Thailand to Nigeria plan to start buying yuan assets as slowing global growth has capped interest rates in the U.S. and Europe.

    The move by China and Japan to strengthen market cooperation “benefits the ease of trade and investments between the two countries,” Chinese Foreign Ministry spokesman Hong Lei said today in Beijing. “It strengthens the region’s ability to protect against risks and deal with challenges.”

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December 27, 2011 Posted by | Economics | , , | Comments Off on China, Japan To Back Direct Trade of Currencies Bypassing Dollar!

World Banks Brace for Euro Collapse!

  • The Euro will collapse. With its collapse the Illuminists will trigger a global monetary meltdown. All major currencies will collapse starting with Euro, UKP, JPY … and finally USD. The Illuminists want to move both the US and EU towards a One World Currency before ‘persuading’ the rest of the world to accept the New Monetary Hegemony. When unbacked fiat currencies are debased worldwide, the One World Currency backed by gold will be introduced.

    World banks brace for euro collapse! 
    by http://presstv.com/ 
    Banks around the world are preparing for the possible collapse of the euro as fears of the European debt crisis increase. Several banks are even installing systems capable of coping with trading in old European currencies.

    Meanwhile finance firms, corporations, and different governments have also turned to plans that aim at preparing them for harsh times. Regulators have asked banks in the US and UK to provide updates on readiness levels in case of a possible euro collapse.

    Some corporate firms have also started transferring their cash on a daily basis out of European countries, including debt-ridden Greece instead of once every two weeks. Europe has for months grappled with an economic and financial crisis. Insolvency now threatens in-debt countries such as Greece, Portugal, Italy, Ireland and Spain.

    Since its formation, the European Union had been a haven for those seeking refuge from war, persecution and poverty in other parts of the world. The worsening debt crisis, however, has forced European governments to adopt harsh austerity measures and tough economic reforms. Tens of thousands of Europeans are migrating from their homelands as a result of these difficulties.

    There are fears that more delays in resolving the eurozone debt crisis could push not only Europe, but also much of the rest of the Western world back into recession.

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December 27, 2011 Posted by | Economics | , , , , , , , | Comments Off on World Banks Brace for Euro Collapse!

CBS News: New Year Prediction – Israel And U.S. Will Attack Iran!

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 Illuminists want to fulfil their Satanic World War 3 Plan. They want the destruction of Christianity to bring about their One World Religion. The timeline appears to be Sep/Oct 2012 to start off this Greater Middle East War. At the end of this war, Zionist ‘666’ Israel will be no more! Many Christians will fall when they see the destruction of this Satanic counterfeit because they have been taught that it is the Israel of the Bible. Nothing can be further from the truth. This is the only country in the world to fly a Satanic ‘666’ Hexagram flag. Modern Ashekenazi Jews are not semitic and not the biological descendents of the 12 tribes of Israel.

    New Year Prediction: Israel and U.S. Will Attack Iran 
    by Kurt Nimmo www.Infowars.com 
    CBS News predicts Israel will attack Iran this year and the U.S. will participate. National Security Correspondent David Martin:

    “If Iran doesn’t blink Israel will strike… Go after its nuclear facilities, if Iran doesn’t blink… [The U.S. will] have no choice but to support Israel. And depending on what the evidence is at that time they might even want to take part in that raid, it depends on what kind of intelligence they have about that decision that Iran has to make about whether to really build a bomb and go beyond putting all the pieces in place, which is what it’s doing now.”

    On Saturday, Iran began a 10-day drill in international waters near the strategic oil route that passes through the Strait of Hormuz. The exercise is dubbed “Velayat 90″ and will likely be conducted in proximity to U.S. naval ships.

    “To show off its might, the navy needs to be present in international waters. It’s necessary to demonstrate the navy’s defense capabilities,” Iranian Navy Commander Rear Admiral Habibollah Sayyari said at a press conference last week.

    Prior to the announcement of the drill, Iran’s Foreign Ministry spokesman Ramin Mehmanparast said that “if the region faced a war-like situation, then everything would then become war-like.”

    On Saturday, Iran reported that helicopter had been warned to stay away from the exercise. “Yesterday, a chopper which belonged to the trans-regional countries tried to approach the region of Velayat 90 exercises, but it left the area when it received a serious warning after it ignored two other warning signals of our units,” Lieutenant Commander of the Iranian Navy Admiral Seyed Mahmoud Moussavi told the Fars News Agency.

    In addition to flexing its military muscle, Iran is bragging about its warfare technology. “Iran is in a unique position in all areas, including manufacture of unmanned reconnaissance aircraft, as well as defense and assault airplanes. Iran has also made great progress in electronic warfare technology, aviation industries and missile technology,” Defense Minister Ahmad Vahidi told IRNA, the Iranian state news agency.

    Vahidi also praised the capture of the RQ-170 Sentinel, a sophisticated U.S. surveillance drone. The capture of the spy aircraft, the imposition of new sanctions, and the withdrawal of British diplomats following a protest and storming of the British embassy in Tehran have resulted in escalated tensions in Iran and the Persian Gulf.

    In late November, Israel appeared to be readying military hardware for an invasion and Iran’s promised response. Earlier in the month, Britain’s armed forces stepped up their contingency planning for potential military action. British military planners examined where best to deploy Royal Navy ships and submarines equipped with Tomahawk cruise missiles over the coming months as part of what would be an air- and sea-launched campaign, The Guardian reported.

    Last week the Chairman of the U.S. Joint Chiefs of Staff Martin Dempsey said that the United States can successfully attack Iran, if necessary. His biggest worry is that Iran will “miscalculate our resolve,” according to Israel National News.

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December 27, 2011 Posted by | GeoPolitics | , , , , , , , , , | Comments Off on CBS News: New Year Prediction – Israel And U.S. Will Attack Iran!