Euro may not survive this Christmas

The European debt crisis is gathering pace. The debt of the Eurozone countries totals 89 percent of the GDP vs. the required 60 percent. The crisis has hit both secondary and primary economies. The public debt of Greece makes up 166 percent of the GDP, Portugal - 106 percent. The largest economies of the region also exceed the limit: Germany - 83 percent of the GDP, France - 87 percent, Spain - 67 percent of the GDP.

Experts continue to bury the euro. Jacques Attali, the former president of the European Bank for Reconstruction and Development, said that the euro would only last before Catholic Christmas. There is no more than a 50/50 chance for the euro to survive until this Christmas, the economist said....more

Ron Paul: Defense Bill Establishes Martial Law In America

Top tier presidential candidate Ron Paul has decried the ‘indefinite detention’ provision of the National Defense Authorization Act, warning that it represents an arrogant, bold and dangerous attempt to establish martial law in America....more

Greek Bank Run Hits Record: Unprecedented €6.8 Billion In Deposits Pulled From Greek Banks In October

While it is no surprise that Greek bank deposits are rapidly fleeing both the country's banking system, and the country, following September's record outflow of €5.5 billion, the situation just got far worse, after October data reveals that a record €6.8 billion was taken out of corporate and household deposits in one month. This is unprecedented 4% of all of the country's period end deposits of €176 billion at the end of October, and represents a €33 billion decline, or almost 20%, of the country's deposit base in 2011 which started with €210 billion in bank cash buffer, and is now down to €176 billion. Furthermore, according to recent article in the German press, this number has supposedly ramped even more in recent months to double digit withdrawals, an event which means the Greek financial system is completely and totally finished. Because as history always shows there is no such thing as a bank run that gets fixed on its own. One thing is certain: November data, and then December, and so forth, will only be worse and worse and worse, until the whole country finally implodes....more

On the Titanic towards Economic and Democratic Disaster - Nigel Farage

US Special Forces Mass On Syrian Border

Following similar reports by former FBI translator Sibel Edmonds, Israeli intelligence sources confirm that US Special Forces are massing in Jordan on the Syrian border having been transferred from Iraq.

On Sunday Edmonds reported that hundreds of foreign troops were witnessed near the Jordanian border village of Al-Mafraq, having moved back and forth between King Hussein Air Base of al-Mafraq and villages adjacent to the Syrian border.

 

The Israeli intelligence outlet DebkaFile has now backed these reports, stating that, “American special forces troops have been diverted to positions in Jordan opposite a Syrian tank concentration building up across the kingdom’s northern border.”

US troops were airlifted out of the Ain al-Assad air base in Iraq to take up positions in Jordan from Thursday onwards, according to the report....more

It's On: Iran Closes Straits Of Hormuz, Oil Explodes

It's on. Iran has just closed the Straits of Hormuz for military training as was expected yesterday, according to RanSquawk. Oil, and all other commodities, are outtahere...more

Update: It's Not On Just Yet: Iran Denies Earlier Reports

Is the U.S. Economy Headed Toward a Crash?

Tinned goods, gold & guns: UBS meets Alex Jones?

Gordon Browns Gold Trade

In the period between Mid 1999 and the End of 2001, Gordon Brown (Chanellor of the Exchequer) managed to sell 12.5 million ounces of gold on the open market to fund wasteful socialist policies around the UK. The magnitude of this trade cannot be understood until you quantify the potential loss in value. If we use the July 2011 value from the chart, Gold is priced at $1800 per Troy Ounce or thereabouts. Using this figure, we can calculate that the British Governtment lost $22 500 000 000 in potential asset value. ...more

Britain is ruled by the banks, for the banks

In a poorer country, the cosiness of relations between bankers and politicians would be scrutinised by an official from the World Bank and disdainfully pronounced as pure cronyism. In Britain, we need to come up with a new word for this type of dysfunctional capitalism – where banks neither lend nor pay their way in taxes, yet retain a stranglehold on policy-making. We could try bankocracy: ruled by the banks, for the banks...more

China’s HK Gold Imports Reach October Record High

Imports of gold from Hong Kong by China reached an all-time high of 85.7 tonnes in October, a 50 per cent hike from a month ago and up by more than 40 times from a year ago, data from the Hong Kong government showed.

It was the fourth consecutive month that China's gold flows from Hong Kong reached new highs, accounting for more than one-quarter of overall global demand.

Tom Kendall, precious metals analyst at Credit Suisse in London, said in the Financial Times he sees overall Chinese imports of the yellow metal hitting 470 to 490 tonnes for the full year, up from last year's 245 tonnes....more

HOUSTON Police Place Tent Over Restrained Protesters and Gas Them

Brutal beat-downs of #OWS protesters-The militarization of the small town law

GEAB N°59 is available! Global systemic crisis: 30,000 billion US dollars in ghost assets will disappear by early 2013 / The crisis enters a phase of widespread discounting of Western public debt

As we come to the end of the second half of 2011, it is evident that 15,000 billion in ghost assets have gone up in smoke since last July, just as was anticipated by LEAP/E2020 (GEAB N°56 ). And, according to our team, this process figures to continue at the same rate throughout the year to come. Indeed we estimate that, with the introduction of a 50% discount on Greek government debt, the global systemic crisis has entered a new phase: that of the generalized discount on Western public debt and its corollary, the fragmentation of the global financial markets. Our team believes that 2012 will bring an average discount of 30% of total Western public debt (1), plus an equivalent amount in loss of assets from the balance sheets of worldwide financial institutions. Specifically, LEAP/E2020 anticipates the loss of 30,000 billion ghost assets by early 2013 (2), with an acceleration in 2012 of the partitioning process of the global financial market (3) into three increasingly disconnected currency areas: Dollar, Euro, and Yuan. These two phenomena feed into each other. They will also be the cause of a sharp decline of 30% on the part of US currency in 2012 (4), as we announced last April (GEAB N°54 ), which will occur amidst a sharp reduction in demand for the US dollar and the worsening of the US governmental debt crisis....more

Iran Threatens ‘Frightful Response’ to Future Violations of Airspace by Drones

Deputy Chairman of the Majlis (Parliament) National Security and Foreign Policy Committee Esmail Kowsari warned that the next time the US ventures to violate Iran’s air sovereignty, it would receive a “frightful” response.

Kowsari warned that if US surveillance drones attempt to violate Iran’s sovereignty once again, Iran “will target every US military base anywhere in the world.” The senior Iranian lawmaker further questioned the silence of the international community on the blatant US violation of Iran’s territorial integrity and highlighted the double standard behavior toward Iran....more

OECD warns double dip risk worse amid winter slump as City says UK already in new recession

Fears that Britain is heading into a double-dip recession mounted last night amid warnings of a slump this winter.

The Organisation for Economic Cooperation and Development said all major economies were losing momentum while experts in the City of London slashed their economic growth forecasts for Britain....more

Mega Fail: 17 Signs That The European Financial System Is Heading For An Implosion Of Historic Proportions

What happens when you attempt a cold shutdown of one of the biggest debt spirals that the world has ever seen? Well, we are about to find out. The politicians in Europe have decided that they are going to "take their medicine" and put strict limits on budget deficits. They have also decided that the European Central Bank is not going to engage in reckless money printing to "paper over" the debts of troubled nations. This may all sound wonderful to many of you, but the reality is that there is always a tremendous amount of pain whenever a massive debt spiral is interrupted. ...more

10 Ridiculous Things That Make You a Terror Suspect

You thought you weren't doing anything wrong, so why should you care about who they call a terrorist? Well, you may not believe it, but you're likely a terror suspect in America's new paradigm of the Land of the Fear....more

Collapse Of The World Financial System Why MF Global Is Worse Than Europe

The shocking collapse of MF Global with the amount of missing client funds now rising to $1.2 billion, is so devastating, we are at the precipice of complete financial disaster. The United States boasts far too much of its greatness and “liberty and justice for all” but its actions reveal nothing but greed, distain, and contempt of the rights of man that include his right to property. Jon Corzine was a bond trader at Goldman Sachs and has been known as an aggressive trader all along. He intervened at the SEC and changed the direction of MF Global. What is at stake now is exposing the political corruption of the New York media, courts, Justice Department, Commodity Futures Trading Commission, Securities Exchange Commission, and political process has come together in such a way that the fate of the nation is truly hanging in the balance....more

Burning down the house - the coming global financial firestorm

This week a fire might start that will burn the western financial system down to the ground. Important people like George Soros warned, "The current global financial system is in a self-reinforcing process of disintegration, the developed world is falling into deflationary debt trap."...more