June 30, 2012

The EU Has Already Broken Up… They Just Haven’t Formalized Yet




I’ve often been labeled as “Gloom and Doom” in the past, but the situation in Europe today is beyond anything I’ve ever seen before. It is highly likely that the EU will not exist in their current form by the end of the year
I realize some of this may sound overly dramatic. But the following should give you an idea of how serious things are getting:
A Vote of No Confidence in Europe
Germany and France’s joint proposal to allow Schengen-zone countries to temporarily reintroduce border controls as a means of last resort might sound harmless. But doing so would damage one of the strongest symbols of European unity and perhaps even contribute to the EU’s demise.

June 29, 2012

EXCLUSIVE: Report from Inside a Major Insider Rothschild Conference

Britannia Radio


EPJ had a mole inside a recent insider Rothschild Conference. The conference was held on June 21-22, 2012 in Bratislava, Slovakia.

Here is the report from the EPJ mole, who attended the entire conference:
I should tell you the conference was quite interesting. It's an annual conference organized for the most important clients of Rothschild private banking to give them a sort of "heads up" about upcoming economic events.

The most important conclusions I have, based on conversations I had and the conference speakers, are:

1.- The EU will form a fiscal and banking union and sovereignty in Europe will effectively be gone. That said, the elites are afraid of popular backlash and recognize this may be stopped in the voting booth if it's not shoved through ASAP.

2.- China is totally screwed.

June 28, 2012

All or Nothing


german-foreign-policy.com


2012/06/25 BERLIN
(Own report) - Just days before the opening of the EU crisis summit at the end of the week, the German government is increasing its pressure on the crisis ridden Euro countries to surrender their national sovereignty. The German finance minister rudely rejected Italy's demands to receive the badly needed help, without having to concede its sovereignty. Germany recently turned down similar Spanish efforts. The measures are part of a comprehensive program to consolidate German hegemony over the continent, under the motto of converting the "European integration" into a state-like Euro zone structure, based on the right of interference in national budgets of the economically weaker countries. Around the globe, the protest against Berlin's austerity dictate is growing, because the German government's power ploys are driving not only European crisis countries into impoverishment but are also threatening to critically damage the global economy. A failure of the German va-banque game could provoke even a serious setback for the German economy.


Time is Running Out

Hard landing



Duly Noted
An era of pleasing self-deception is ending.   

An economic collapse, to be followed by a political one, is threatening Europe. The global economy and your share of it might not remain immune. The problem is self-generated. 

Thereby, the entire, economically industrialized and politically democratic, world’s economic fundamentals are endangered. The trigger is seemingly negligible. Greece is only a small apple in the large basket. Its rot, however, is due to the interrelationships created by the “political class” and regardless of denials, a process that affects all. The crisis managers and the means of those in charge of repairs are dubious quality. Adding more borrowed apples will hardly work. Impolite and unkind observations follow.

June 27, 2012

Russian “propaganda” sounds suspiciously like the truth


Don Hank

I recently read an opinion indicating the Russia is up to its old tricks of dividing the Western world and trying to destabilize the Middle East. The author cites the fact that Russia is refusing to go along with Western intervention in the Middle East. I was surprised to read this opinion because if anyone can be blamed for destabilizing that region it is the Western powers and their military adventures there.

The commentary also stated that Russia is a much bigger threat than the New World Order.

I disagree.

From what I see, the New World Order is actually an extension of the Soviet Union, but not of Russia, which is no longer a totalitarian communist state—or at least no more totalitarian than, say, the EU, whose commissioners are not elected democratically and who wield all the important power.

I think some US conservatives subconsciously conflate today’s Russian Federation with the Soviet Union. Even Reagan seemed to have a problem with seeing a Russian person in a positive light, including the Russian dissidents we should have reached out to, notably Alexander Solzhenitsyn, who was treated with suspicion. Details here:

TOP SOVIET-BLOC DEFECTOR: MARXISM INFECTING U.S.




WND EXCLUSIVE

TOP SOVIET-BLOC DEFECTOR: MARXISM INFECTING U.S.

'Americans are not blind. They just do not really know what Marxism is'


By Lt. Gen. Ion Mihai Pacepa
Editor’s note: Lt. Gen. Ion Mihai Pacepa is the highest-ranking Soviet-bloc official ever to defect to the West. In December 1989, Romanian President Nicolae Ceausescu was executed at the end of a trial whose accusations came almost word-for-word out of Pacepa’s book, “Red Horizons,” subsequently republished in 27 countries.
After President Carter approved his request for political asylum, Pacepa became an American citizen and worked with U.S. intelligence agencies against the former Eastern Bloc. The CIA has praised Pacepa’s cooperation for providing “an important and unique contribution to the United States.”
A few weeks ago I read “America’s Marxist Picnic,” a touching story by WND’s David Kupelian, which illustrates how much the U.S. government hated Marxism a generation ago.

The New World Order in 2012


New World Order 2012 and Globalist United Nations
In 2012 very few people understand what the New World Order is all about and how the New World Order has evolved to what it is today. This lack of understanding is derived from a systematic denial by the Globalists and Politicians that the New World Order doesn’t exist.
When the term New World Order first came into vogue in the wake of the Gulf War, but especially following the collapse of the Soviet Union, it evoked the promise of an exciting, higher plateau of international relations, including:
  • International security, particularly between East and West, no longer based on the concept of Mutual Assured Destruction (and other equally MAD theories of deterrence) but guaranteed by the reality of a unipolar world, led by the West.
  • Freedom to travel and migrate for people confined for decades (or entire lifetimes) behind the “Iron Curtain”.
  • Opportunity for the enslaved communist economies of Central and Eastern Europe to serve primarily indigenous needs on the basis of market principles, rather than support the economy of the USSR, as required for decades by the Council on Mutual Economic Assistance (CMEA).
  • Transformation of the economies of Russia and the other former Soviet republics into market based ones.
  • The chance for Central and Eastern Europeans and former Soviet citizens to enjoy material advantages previously denied.
  • Freedom for Third World Governments from having to choose sides in the overriding bipolar political / military struggle that had dominated global relations for 45 years.
  • Optimism among Third World leaders who thought that perhaps they could now devote more energy to improving the living standards of their own citizens (the pessimists feared the opposite, now that their UN votes counted for little).
  • The assumption that inevitable regional disputes could be settled quickly on the basis of coordinated international action, possibly on the Gulf War Coalition model.
  • A new scope for collective security by the West with co-operation from much of the Arab World.

Reality of the New World Order in 2012


June 26, 2012

GREEK DEFICIT: How Berlin encouraged Papandreou to big-up the 2009 Greek deficit

Defence of German banks a key factor


Schäuble and Merkel….implicated in an incredible scam

How Venizelos fired ELSTAT moles to cover up the truth

Spanish European Commissioner backs story of international fraud

The Western MSM have never questioned the ‘received truth’ that Athens understated its liability and obligations for several years following the launch of the euro. But few if any outside observers know the truth behind what happened when Papandreou took over the Premiership in Greece….and for Machiavellian reasons, the debt was suddenly overstated.

June 25, 2012

Doomed Flight, Doomed "Investigation" - TU-154 and the Wholesale Loss of Poland's Political Leadership

 The Doomed Soldiers 
Polish Underground Soldiers 1944-1963 - The Untold Story

“The world is a dangerous place to live - not because of the people who are evil but because of the people who don't do anything about it.”
Albert Einstein

Doomed Flight, Doomed "Investigation" - TU-154 and the Wholesale Loss of Poland's Political Leadership

The crash of TU-154, taking down most of the leadership of the Polish government was initially reported as an accident caused by the inept directive of Lech Kaczynski and a docile and inexperienced crew. As we have examined the crew's capabilities and professionalism and the nature of Mr. Kaczynski, the purported impetus for the crash falls away. Now, as we examine the term "accident", this too proves a spurious narrative. We cannot find the "smoking gun" that we believe brought down TU-154, but we can find such a thorough destruction of evidence as to constitute probable cause that TU-154 was indeed brought down. What follows is an interview with Mr. Eugene Poteat - Engineer, former high-ranking manager of the CIA's worldwide network of monitoring sites, holding numerous patents on covert communications techniques. We would like to thank Mr. Poteat for making this interview available to us. Mr. Poteat can be reached at G2Poteat@gmail.com.

Polish President's Plane Crash in Russia Two Years Later: "The Russians had the means, motive, and opportunity" to assassinate the staunchly pro-Western president of Poland, Lech Kaczynski.

An interview with Eugene Poteat, retired Central Intelligence Agency(CIA) Senior Scientific Intelligence Officer.

Government Debt: The Price We Pay



There is a fascinating passage in Pavel Stroilov’s book Behind the Desert Storm [1]. It is a transcript from a discussion between Soviet leader Mikhail Gorbachev and Egyptian President Hosni Mubarak. Gorbachev wants to know where Mubarak gets his country’s money from. “Is it flowing in the Nile?” he asks. Mubarak replies that, “Everyone has debts in today’s world.” He went on to say that Egypt only accepted non-repayable aid. “Nowadays,” Mubarak explained, “almost nobody repays debts. I am talking to you absolutely frankly.”

It is nothing for governments around the world to acquire debt. They do so without thinking of the consequences. Consider Mubarak’s words: “almost nobody repays debts.” He is talking about the state, about government. It is no longer shocking that enormous government indebtedness has grown up on every side. The Economist has a global debt clock [2], which provides a minute-by-minute tally of “government debt across the planet.” As of this writing, that number is over $45.6 trillion. Government “debt across the planet” in 2000 was around $18.7 trillion. That means government debt worldwide has grown by a factor of 2.4 in 12 years. How much did the global economy grow? The Gross World Product [3] (GWP) has grown from an estimated $41 trillion in 2000 to $70 trillion in 2012 – or by a factor of 1.7.

Why the ‘Berlin Ten’ Are Not the Ten!

June 25, 2012 | From theTrumpet.com
The number is right but the makeup is wrong. Which nations will comprise the final 10 prophesied to dominate Europe?
For 70 years we have declared that Europe is destined to morph into the biblically prophesied 10-nation combine under one overarching politico-economic and military power, spiritually inspired by Rome.
In recent months a group of 10 nations giving themselves the name the “Berlin Group” or “Berlin Club” have been meeting under the leadership of one of Germany’s least-popular and least-successful politicians, Foreign Minister Guido Westerwelle. Perhaps, realizing that his political career is on the skids, this is Westerwelle’s final effort to leave behind some sort of political legacy. Yet it is destined to ultimately fail, at least in its current form.
Despite Westerwelle’s efforts, the one thing that he has highlighted that has gained the attention of students of Bible prophecy is the number of nations involved in his initiative to enact a two-tier Europe. Present at the most recent meeting of the group—once again chaired by Westerwelle—were his counterpart foreign ministers from Austria, Belgium, Denmark, Italy, Luxembourg, the Netherlands, Poland, Portugal and Spain.

Panic in the New World Order


by Gary North

Tea Party Economist


For the first time in my career, I see the international establishment, sometimes called the New World Order, facing a crisis so large that its very survival is at stake. For the first time, these people are scared.

There are not many of them. In his book, Superclass, author David Rothkopf estimates that there are only about 6000 people at the top of the pyramid of world power and influence. They are mostly males, and at least a third of them have attended America's most prestigious universities. Most of the others have attended comparable universities in Europe.

The crisis in Europe is clearly beyond anything that this generation of establishment leaders has ever seen. The last time that anything like this faced the European establishment, it led to World War II.

June 23, 2012

Lord Monckton Reports From Rio

Source:  SPPI

MAD GIG

To the Gaia-worshipers in Rio, all is symbolic of the new religion

From Christopher Monckton of Brenchley in Rio de Janeiro

Symbolism! Dontcha just love it? Even the three-letter abbreviations for the world’s airports convey a resonant message for the goofy Gaia-worshipers here in Rio de Janeiro for the conference on “sustainable development” (whatever that may mean). Flights still follow the old colonial patterns, so it is easier to fly to Rio (GIG from Madrid (MAD) than from London. Entertainingly, the bag-tag on my suitcase bore the legend MAD GIG –a deftly synoptic description of the leftfest on Brazil’s once-fashionable coast.

The intended triumph of the new religion over the old was symbolized by a light-emitting diode system costing hundreds of thousands of dollars that has turned the normal floodlighting of the towering statue of Christ the Redeemer an unpleasant, lurid green, so that He looks like a giant jelly-bean. Fortunately, Divine intervention (or perhaps the Gore effect) has smothered the volcanic pinnacle on which the statue stands in unseasonably dense cloud and pouring rain, rendering this crude but costly sacrilege altogether invisible. Chalk up ten points to the old religion. God is not mocked.



UN Censorship: Rio Earth Summit text is now secret -- Senior official of 'transparent' UN admits Rio negotiating text is classified

 Climate Depot
Wednesday, June 20, 2012By Marc Morano  –  Climate Depot


Special to Climate Depot

By Christopher Monckton of Brenchley

RIO DE JANEIRO -- In a shock move, officially-accredited non-government delegates who had traveled thousands of miles to attend the UN's Rio+20 sustainable development conference in Brazil have been refused all access to the central negotiating text.

This key document, containing all of the environmental conference's decisions, is now restricted to governmental delegates only.

The UN's panic decision to classify the Rio negotiating text follows CFACT's Climate Depot revelation at the UN climate conference in Durban in 2011 of the then-public Durban draft, whose contents the world's news media had failed to report.

June 22, 2012

GERMANS PLOT TO TAKE CONTROL OF EUROPE


Express.co.uk - Home of the Daily and Sunday Express Express - Breaking news, sport and showbiz from the World's Greatest Newspaper

David Cameron has given his blessing to greater fiscal union within the eurozone

David Cameron has given his blessing to greater fiscal union within the eurozone
Thursday June 21,2012

By Alison Little

GERMANY is plotting a European power grab using the economic ­crisis as a smokescreen.
A group of 10 EU foreign ministers and officials – none from Britain – has held talks in Berlin this week on exploiting eurozone debt problems to create a superstate.
A European army, an IMF-style monetary fund and a finance minister for the whole EU were among radical suggestions put forward.
The group aims to set the scene for a summit in Brussels next week of EU leaders – and to encourage further thinking about how “political union” might be achieved.
Tuesday’s meeting of the 10-nation “reflection group”, including France, Italy, Spain and Austria as well as non eurozone EU members Poland and Denmark, underlined how many influential figures on the Continent wish to see a United States of Europe – and was immediately seen by some as a plan for Berlin domination.
German Foreign Minister Guido Westerwelle, who chaired the talks, urged: “We should take advantage of the crisis to take a historic step towards more integration.”
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We should take advantage of the crisis to take a historic step towards more integration
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German Foreign Minister Guido Westerwelle
He added that the forces of nationalism “have to be countered by pro-European arguments”.
He said: “Only a long-term ­perspective for Europe will restore the confidence that we also need to come out of the debt crisis now.”
In a preliminary report, the group backed tighter central control over national budgets to ensure the euro was an “irreversible” institution.
They also agreed on the need to explore whether the eurozone’s European Stability Mechanism bail-out scheme could grow into a European version of the International Monetary Fund. Germany has now chaired three meetings of the forum which expects to release its final conclusions in the autumn after further discussions next month in Spain.
SEARCH UK NEWS for:
The talks triggered renewed Conservative demands for David Cameron not to sit on the sidelines while the rest of Europe plots to forge an ever-closer bloc.
Mr Cameron and Chancellor George Osborne have given their blessing to greater fiscal union within the eurozone as a way to shore up the troubled currency and help it to survive as a thriving trading partner for Britain.
But some MPs fear the Government is taking too relaxed a view.
Leading Tory eurosceptic MP Peter Bone said: “We as a country shouldn’t sit on the fence and say it’s up to them. We should be saying ‘No, this is wrong, wrong for Europe’. The people of Europe don’t want to be dominated by Germans.”
Fellow senior Tory Douglas ­Carswell yesterday introduced a ­Private Member’s Bill in the ­Commons proposing that Britain should leave the EU, in line with a Daily Express crusade which has received huge public backing.

http://www.express.co.uk/posts/view/327887/-Europe-doesn-t-want-to-be-dominated-by-the-Germans-

Agenda 21 & the UN "World Congress" (Rio 2012)

Agenda 21 & the UN "World Congress" (Rio 2012)






"In searching for a new enemy to unite us, we came up with the idea that pollution, the threat of global warming, water shortages, famine and the like would fit the bill...." The Club of Rome [1]  
"The latest twist in the global warming saga is the revision in data at NASA's Goddard Institute for Space Studies, indicating that the warmest year on record for the U.S. was not 1998, but rather 1934.... The new data undermine another frightful talking point from environmentalists, which is that six of the 10 hottest years on record have occurred since 1990. Wrong.
     "NASA now says six of the 10 warmest years were in the 1930s and 1940s, and that was before the bulk of industrial CO2 emissions were released into the atmosphere." "Not So Hot," WSJ

June 2012

June 19, 2012

The Apocalypse of Modernity

Home



rene-girard-portrait-bw.gif
René Girard
History – and increasingly the mere daily record of events – are together apocalyptic, laying bare human nature for what it is primordially before the agonizing laboratory of the millennia creates the Christian society that its beneficiaries, swiftly taking it for granted, petulantly reject that they might go “forward” into a liberated horizon beyond the one defined by the Gospel. “Progress” names that particular folly. A blood-drenched folly it is, beginning with the religious wars of the Seventeenth Century and reaching fullness with the mobilization of the whole society fomented by the Jacobins and institutionalized by their superman-successor, Napoleon Bonaparte. From the guillotine henceforth, modernity blurts itself sanguinely in the Commune, Leninism, Stalinism, Hitlerism, and resurgent Islam (Jihad), which continues belatedly thesparagmatic trend of the late and unlamented Twentieth Century. Yet despite the academy’s authoritative three-decades-long declaration of Dionysiac “postmodernism,” despite the polysyllables of doctrine-inebriated intellectuals, modernity in its lynch-mob vehemence has not succeeded in realizing its rainbow utopia. No fulfillment of the destructive quest heaves in prospect. Modernity spirals dizzyingly to its destined abyss, dragging with it those who know full well its madness but who find themselves sucked with the lunatics into the maelstrom.

June 16, 2012

German finance minister threatens Greek voters

By Ulrich Rippert
13 June 2012
The German government has intensified its threats against Greek voters on the eve of parliamentary elections this weekend.
“There is no easy way”, Finance Minister Wolfgang Schäuble (Christian Democratic Union) told the press earlier this week. Social cuts and public sector layoffs dictated by the EU and Berlin—euphemistically labeled “adaptation measures”—are essential and non-negotiable, Schäuble declared, whatever way the electorate votes.
He was even more explicit in a television interview on Saturday evening. Greece must comply with the terms of the EU “irrespective of who the Greeks vote for”, he said.

Europe and Eurasia (II)

german-foreign-policy.com

2012/06/07  MOSCOW/BERLIN (Own report) - The Russian president is setting new accents in foreign policy and thereby threatens to weaken German influence in Russia. Vladimir Putin, who, spent only a few hours in Germany on his first official visit to Berlin, has arrived in Beijing for a three-day visit, where he announced his wish to expand relations with China. The fact that Putin's first destination was Minsk is perceived as a clear signal. It is true that Russia's new president is seeking to consolidate the alliance of the post-Soviet countries which is destined to cause conflicts. Berlin seeks to strengthen its position in the Ukraine as well as in Belarus. Even though a certain alienation has been growing between Berlin and Moscow, economic ties remain strong. Europe's dependency on Russian natural gas is growing, as well as Russia's significance for the Germany's export industries. East European and post-Soviet central Asian countries are buying more German products than the USA and China combined.

June 15, 2012

A Global Plan B


What superstate was in Europe, had 15 member countries, shared a single currency and yet within two years found nearly all it’s members withdrawn from the single currency?
Answer: the Soviet Union [1].
It was a currency union of 15 states in 1992. Two years later, as budget deficits spiraled out of control, hyperinflation reigned and economies shriveled, just two members of the Soviet Union’s ruble zone were left.
The Soviet experience tells us “an exit like this is messy and leads to loss of income and inflation, and people are right to be scared of it,” said Harold James, a professor of history at Princeton University whose books include “The End of Globalization: Lessons From the Great Depression.” “It isn’t an attractive analogy at all because the Soviet Union states all had serious troubles for the whole of the 1990s.”

June 13, 2012

ARMAGEDDON A SPACE WAR COMING TO YOU SOON


PART 1

By Paul McGuireJune 11, 2012
NewsWithViews.com

The United States and Russia have massive stockpiles of thermonuclear weapons and nuclear missiles that could destroy the world many times over. At some point in the near future, Israel and the U.S. will be involved in some kind of military action against Iran. Syria is a key battlefield and the NATO leaders, who met in Chicago recently, have a regime change planned for Syria.

However, Russia and China will not stand idly by and the world is on the brink of a thermonuclear confrontation. If World War III erupts, the battlefield will be expanded to outer space. 
Armageddon could well be fought in the valley of Megiddo and the moon. In my new DVD, “Moon into Blood,” I talk about the new spaced-based weapons technology being used by America, China and Russia.

During the Battle of Armageddon, all the military of the earth will center at the valley of Megiddo, known in Aramaic as Armageddon, which is located in Northern Israel. Revelation 16:16 declares, “And He gathered them together into a place called in the Hebrew tongue Armageddon.” In Daniel 11:40-45, the invading armies, in revolt against the one world government ruled by the Antichrist, will be spread out throughout the land of Israel, which will be about 200 miles from north to south. This will extend from the Mediterranean Sea on the west all the way to the Euphrates River to the east. It appears massive of armies will come across the Euphrates River from the east. Many of these armies will come from the “Kings of the East,” which could refer to China, Japan and Korea. Currently, Russia and China are engaged in a military partnership and China is aggressively building up its military.

June 12, 2012

Alert From International Banker-This Is Huge


June 11, 2012

Steve,

Steve tell your listeners to ignore ETFs and continue buying Physical SILVER and GOLD no matter what "spot price" is. Please tell them to take cash out NOW!!!! Only keep in bank what you can afford to lose and what you need to pay bills and expenses. Please tell them to get money out NOW!!! They have till December the latest to do so. Be mindful it CAN HAPPEN SOONER. Prices of Metals without manipulation $1000 SILVER $5000 GOLD---Steve Great show Im listening to you right now. 




Spain, Debt and Sovereignty


http://2.bp.blogspot.com/_8v_cvxgMx3o/TGPju9Etk9I/AAAAAAAACAM/AalzVZ_e-0Q/s320/Stratfor.JPG
By George Friedman 
Eurozone countries on June 9 agreed to lend Spain up to 100 billion euros ($125 billion) to stabilize the Spanish banking system. Because the bailout dealt with Spain's financial sector directly rather than involving the country's sovereign debt, Madrid did not face the kind of demands for more onerous austerity measures in exchange for the loan that have led to political instability in countries such as Greece.
There are two important aspects to this. First, yet another European financial problem has emerged requiring concerted action. Second, unlike previous incidents, this bailout was not accompanied by much melodrama, infighting or politically destabilizing threats. The Europeans have not solved the underlying problems that have led to these periodic crises, but they have now calibrated their management of the situation to minimize drama and thereby limit political fallout. The Spanish request for help without conditions, and the willingness of the Europeans to provide it, moves the European process to a new level. In a sense, it is a capitulation to the crisis.

Global Governance and its European Variant

Klaus.cz

ENGLISH PAGES, 11. 6. 2012
Many thanks for giving me a chance to come again to this very beautiful but also (as seen from Prague) very remote part of the world. Nevertheless, I strongly believe that I will be highly rewarded for the long journey by being here with all of you. Thank you for selecting this topic for the conference. Its title suggests the lack of politically correctness but it magnifies my pleasure to be here.
I am proud to belong to the very small group of people who consider both the ideology of global governance and the reality of the rapidly accelerating realization of this scheme to be one of the main threats to our liberty and democracy. The subtitle of the conference asks: “Is it the West’s Next Great Ideological War?” I am not sure. It could eventually be. However, as it looks now, it may become the West’s great ideological defeat. It will turn into an ideological war (waged with words, not weapons) only on condition we enter the arena.  If not, global governance will become our reality very soon and without much resistance.

June 11, 2012

Bush, Gorbachev, Shultz and Solidarity


Bush, Gorbachev, Shultz and Solidarity
by Berit Kjos - 1999

George W. Bush, Mikhail Gorbachev, George Shultz and your children -- how are they linked? Why does it matter?  
And who is George Shultz? How did he help rewrite history, redefine morality, and prepare America to accept the new socialist values that are paving the way to the new world order? 
If you are as concerned as I am about America's shift from traditional values and factual education to global values and psycho-social strategies for "lifelong learning," you would want to know the answers. You might also wonder why Texas Governor George W. Bush would choose George Shultz, who negotiated the 1985 U.S.-USSR Education Exchange Agreement, as advisor on his presidential exploratory committee. Or why Robert Dole chose Shultz as an advisor during his quest for the presidency in 1996. 

Facing the Leviathan

FINANCIAL SENSE

BY CRIS SHERIDAN     06/07/2012
"A thing long expected takes the form of the unexpected when at last it comes." ~Mark Twain
leviathan Many would say that we are in the midst of revolutionary times. "Change," it would seem, is being forced upon the world in ways many did not expect. Subjective slogans and unfulfilled campaign promises, however, are not what ail the world today. No, the ongoing financial crises exposing the soft underbelly of our modern State—the Leviathan—trace even back to that ancient book from which Thomas Hobbes borrowed his original title.
I once thought my own interpretation and outlook for the future was somewhat of a "fat-tail" event—purely within the realm of possibility (at least, in my mind) though still an extremely unlikely outcome in the near to intermediate future. However, things are moving far quicker than I had anticipated and I believe we are all in for a surprising twist.

All Tied Together

Europe's democracies must not subcontract their destiny to the Bundebank

http://2.bp.blogspot.com/_8v_cvxgMx3o/TGlqdzNnxyI/AAAAAAAACDQ/YF1DGcGIyZU/s320/Telegraph-co-uk.JPG

Europe has lit the fuse on an economic and financial bomb. The rescue package for Spain cannot plausibly be contained to €100bn once it begins, given the subordination of private creditors and collapse of global confidence in the governing structure of monetary union.


Economy Minister Luis de Guindos said gross domestic product was likely to have fallen a similar amount to the October-December period of 2011 when the economy shrank 0.3 percent quarter-on-quarter.
Spanish finance minister Luis de Guindos said the package was big enough to eliminate “all residue of doubt”. Photo: Reuters


Italy must guarantee 22pc of the bail-out funds, even though it cannot raise money itself at a sustainable rate. You could hardly design a surer way to pull Italy into the fire.
Citigroup warned over the weekend that Italy’s economy will shrink by 2.5pc this year and another 2pc next year as the fiscal squeeze starts in earnest, with grim implications for debt dynamics. Public debt will jump from 121pc of GDP to 137pc by 2014.
“The situation could rapidly become critical, because the country is highly vulnerable if the sovereign debt crisis persists or intensifies. A significant further rise in yields would deepen and extend the recession and accelerate the rise in the debt/GDP ratio, triggering a worsening vicious circle. We expect that Italy will have to request help,” it said.
The world is uncomfortably close to a 1931 moment. Italy’s public debt is the world’s third largest after the US and Japan at €1.9 trillion. There is no margin for political error.
The EU machinery (EFSF/ESM) exists largely on paper, a €500bn declaration of intent. It had trouble raising trivial sums last year to fund Irish and Portuguese loan tranches -- understandably so, since the fund is a transparent attempt to evade the imperative of Eurobonds and EMU debt pooling.