Monthly Archives: February 2013

Russian Foreign Minister: Russia will never involve itself in ‘another Afghanistan’

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“The head of the Foreign Ministry said Russia has no intention of deploying its military to the Middle East or North Africa, where social and political crisis is rampant, opting instead to work diplomatically with legitimate governments.  ‘This is my answer to those who wonder why we are not fighting for our positions,’ Foreign Minister Sergey Lavrov said on the ‘Sunday Night with Solovyov’ program. ‘We will not be fighting for our positions…and creating ‘another Afghanistan’ for ourselves. Never, under no circumstances!’  Lavrov was referring to the Soviet experience in Afghanistan (1979-1989), which is being played out in similar fashion today by the United States.”

http://rt.com/politics/russia-afghanistan-us-lavrov-898/

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David Galland: Three Levels of Survival Skills

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“While we all hope that things will turn out for the best, and they very well might, I suspect that, like me, most of you sense that something is fundamentally wrong in the world today.  Trying to ignore the risks, effectively keeping your alert level at ‘White,’ leaves you woefully unprepared. Now is the time to think this stuff through, while you still can do so calmly.  Now, moving on, I want to share with you stories from two individuals faced with severe disruptions in the norm – one from old friend Roger S. from Zimbabwe, who reports on the current state of things there and the other from an individual who survived the war in Sarajevo.”

http://www.caseyresearch.com/node/41382

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Diesel shortage pushes Egyptians to the brink

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“Diesel supplies are drying up as a cash-strapped government struggles to cap a mounting bill for subsidies it has promised the IMF it will reform to secure an elusive $4.8 billion loan desperately needed to keep a sagging economy afloat.  The situation appears near breakdown with growing shortages, unsustainable subsidies and foreign exchange reserves running out, raising the risk that fuel bottlenecks lead to food shortages and pose a risk to political stability.  Foreign reserves are down below $15 billion, less than three months’ imports, despite deposits from Qatar and Turkey. The Egyptian pound has lost 8 percent of its value this year and a black market has emerged.”

http://www.reuters.com/article/2013/02/13/us-egypt-diesel-idUSBRE91C0RO20130213

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Egypt, Syria – it’s just the end of them

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“Two years and 60,000 casualties into Syria’s civil war, the foreign ministries of the West have nothing to show for their peacemaking efforts except a wad of airline and hotel receipts. Egypt is proceeding with grim inevitability towards financial exhaustion, and the government has just announced a three-pita-per-day bread ration.  Most alarming is the emergence of a black market in Egyptian pounds, with a street rate February 10 of 6.95 pounds to the US dollar, against an official rate of 6.72. United States President Barack Obama has asked congress to renew Egypt’s $1.8 billion in annual aid, but two-thirds of that is military assistance.”

http://www.atimes.com/atimes/Middle_East/MID-01-130213.html

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Houston passes law requiring photographs, fingerprints of gold sellers

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“Houston City Council on Wednesday passed new rules on precious metals dealers despite a lengthy attempt to water down the ordinance by Councilwoman Helena Brown, who called it ‘safety theater’ that would burden businesses and invade jewelry sellers’ privacy.  Officers in the Houston Police Department‘s precious metals unit said reputable dealers already implement many of the new rules but said the ordinance – which requires a photograph and thumbprint of each seller and mandates dealers enter transactions into an online database – will help them catch crooks and recover stolen goods.”

http://www.chron.com/default/article/Brown-calls-new-rules-on-jewelry-dealers-safety-4258168.php

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Draconian Cash Controls Are Coming To France

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“Ayrault trotted out his national plan, a 20-page document that outlined his all-out effort to go after any kind of behavior that could possibly deprive the government of those sorely needed euros. Stuffed into that 20-page national plan: prohibiting cash payments of over €1,000 per purchase. It’s urgent. He wants to get the process started soon so that ‘a decree and legislative measures’ can be finished by the end of 2013.  Two crisp 500-euro bills and a single coin: voilà, an illegal transaction.  But the limit would only apply to fiscal residents.  Fiscal residents of a country other than France would be able to pay €10,000 in cash per purchase.”

http://www.businessinsider.com/draconian-cash-controls-are-coming-to-france-2013-2

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Double taxation row as Brussels unveils new financial transactions tax

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“The European Commission was under fire Thursday (14 February) over claims that its planned tax on financial transactions (FTT) would lead to double taxation.  Unveiling the plans for an FTT backed by 11 EU countries, Taxation Commissioner Algirdas Semeta said that it was a ‘fair, technically sound and legally robust tax.’  The proposal puts a 0.1 percent levy on bonds and shares and 0.01 percent on derivative products. The use of an ‘issuance’ principle as well as ‘residence’ criteria means that traders operating outside the FTT-11 would also be liable to pay the tax.”

http://euobserver.com/economic/119072

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Countries are using devaluation to gain an advantage – and Britain is one of the worst offenders

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“At Wednesday’s Inflation Report press conference, Sir Mervyn King, Governor of the Bank of England, aired some apparently shocking numbers. Since the financial crisis began, not only had interest rates been reduced to close to zero, but the Bank of England’s balance sheet had been expanded by a factor of five.  Expressed as a share of GDP, the increase has been greater than that of the US, greater than that of the European Central Bank, and greater than that of Japan. This is way beyond being an unprecedented degree of stimulus. These are completely uncharted waters we are in, and even Sir Mervyn seems to be getting worried by them.”

http://www.telegraph.co.uk/finance/comment/jeremy-warner/9868780/Countries-are-using-devaluation-to-gain-an-advantage-and-Britain-is-one-of-the-worst-offenders.html

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Obama: A Keynesian, Not a Communist

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“Step one: know your enemy.  The President’s State of the Union address was long: 11 pages, single-spaced.  It was standard stuff: a laundry list of Keynesian programs, few of which will get by the House of Representatives. It was an exercise in futility. Fortunately.”

http://www.garynorth.com/public/10671.cfm

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The Ascent of Whatever-It-Takes Banking Is a Good Thing?

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“We didn’t realize the reaction to criticism that central bankers were rash and their strategic destabilizing would result in a worldwide movement of even MORE activist bankers. You’ve read it for yourselves now. A ‘new breed’ of banker is emerging that will grasp the true power of the printing press and pump harder.  Yet it simply must be admitted that central bankers don’t ever know how much money is too much. There are no tools that exist that can divine the future. If new and bolder central bankers are going to print even MORE money, the booms and busts shall be correspondingly larger.  This would seem to be an illogical solution, but in truth, not so.”

http://www.thedailybell.com/28700/Bloomberg-The-Ascent-of-Whatever-It-Takes-Banking-Is-a-Good-Thing

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