EUROPE | WHAT REALLY HAPPENED

EUROPE

Jan 28 10:24

Syriza comes out swinging over EU anti-Russia statement

The new Greek government has spoken out against the EU partners over the statement that lays the blame for Saturday’s fatal attack on the Ukrainian city of Mariupol on Russia. Hungary, Slovakia, and Austria voiced similar objections earlier.

The government, headed by Prime Minister Alexis Tripras, said in a press release on Tuesday that “the aforementioned statement was released without the prescribed procedure to obtain consent by the member states, and particularly without ensuring the consent of Greece.”

“In this context, it is underlined that Greece does not consent to this statement,” Tsipras added.

He voiced his “discontent” in a phone call to EU foreign relations chief Federica Mogherini.

Jan 28 09:55

NATO must close ranks around Ukraine - Nuland

You must install the six border command centers around Ukraine as soon as possible, "she said, adding that NATO should become' spearhead that will allow us to move quickly to areas of conflict '.

'NATO is a defense organization. Our goal is to discourage countries from any aggression, but if this goal fails, we must be ready, "said Nuland.

She pointed out that sanctions already imposed by the US and the EU did not seek to punish Moscow Russian people, but to persuade President Vladimir Putin to change policy.

Webmaster's Commentary: 

A short memo to Victoria Nuland: forgive me, but did I blink and miss the fact that Ukraine had actually become a NATO member?!?I do not believe that has yet actually happened; please forgive me if I am wrong (which I am most assuredly NOT).

And as reported at yahoonews.com two days ago:

NATO has made clear it has no plans to intervene militarily in Ukraine, which is not a NATO member, but it has stepped up cooperation with Kiev, including help with modernizing its armed forces. Diplomats said Ukraine was mainly looking for political support from NATO at the meeting rather than any concrete aid.

I am so terribly sorry, Ms. Nuland, that you did not get the memo.

But if I, as an ordinary American citizen, know this, why, please, is it that you do not?!?

Jan 28 09:11

Greece’s new dream team vows to defy foreign creditors

In a taste of what lies ahead, Yanis Varoufakis, the flamboyant new finance minister, said on his way to the government’s swearing-in ceremony that negotiations would not continue with the hated troika of officials representing foreign lenders.

“They have already begun but not with the troika,” said Varoufakis, an economist who has disseminated his anti-orthodox views through blogs and tweets almost daily since the debt crisis exploded in Athens in late 2009 – something he promised on Tuesday to continue to do. “The time to put up or shut up has, I have been told, arrived,” he wrote on his blog. “My plan is to defy such advice.”

Jan 27 13:18

This Is The Beginning Of The End For The Euro

The long-anticipated collapse of the euro is here. When European Central Bank president Mario Draghi unveiled an open-ended quantitative easing program worth at least 60 billion euros a month on Thursday, stocks soared but the euro plummeted like a rock. It hit an 11 year low of $1.13, and many analysts believe that it is going much, much lower than this. The speed at which the euro has been falling in recent months has been absolutely stunning. Less than a year ago it was hovering near $1.40. But since that time the crippling economic problems in southern Europe have gone from bad to worse, and no amount of money printing is going to avert the financial nightmare that is slowly unfolding right before our eyes.

Jan 27 12:29

Spain negotiates permanent US Marines Africa force

Spain’s foreign and defence ministers will negotiate the amendment, as requested by the United States last month, “with a view to hosting the deployment for an indefinite time”, she told a news conference.

Jan 27 12:27

EU to consider new sanctions against Russia on January 29

January 29, the EU Council to consider new restrictive measures against Russia. This is stated in the statement of the Heads of State and Government of the European Union on Tuesday in Brussels, according to TASS.

"Due to the deteriorating situation we ask the EU Council of Ministers of Foreign Affairs to assess the situation in Ukraine and consider any appropriate measures, in particular, further restrictive measures against Russia, aimed at the rapid and full implementation of the Minsk Agreement," - the document says.

Jan 27 11:25

Turkey deploys Spain's Patriot missiles in Adana - WHY?!?

"Patriot battery is here to ensure the security of Adana," Luis Burgos Sanchez, a Spanish commander, told reporters.

Sanchez said five missile launchers were now active. "We have a very effective system against any ballistic missile," he said.

Spain's provision of Patriot air defense missiles to Turkey will ensure its security and stability as a NATO ally, Spanish defense minister said on Jan. 16.

Jan 27 11:24

EU leaders warn of more sanctions against Russia

EU leaders call on the Ministers of Foreign Affairs to consider new sanctions against Russia.

European Union leaders asked their foreign ministers on Tuesday to consider possible new sanctions on Russia in response to a rebel offensive in eastern Ukraine, but a final decision to impose them is likely to be left to a summit next month.

Jan 27 11:15

Anti-Syriza Propaganda Begins: Greece Framed as ‘Emerging Hub for Terrorists’

Greece’s new anti-austerity and anti-Western Oligarchy ruling party, Syriza, is coming under attack from an all too familiar angle. Keep in mind that this accusation came on the very first day Syriza took office.

According to CNN, “there may be some 200 people in the country with links to jihadist groups such as the Islamic State in Iraq and Syria (ISIS) or the al Nusra Front“. Supposing this is true, should we not instead look to those who funded and created those groups; namely Western nations?

Webmaster's Commentary: 

"oooooh, we HAVE to invade them and put in a new government!" -- Official White Horse Souse

(You tried that a year ago with Ukraine and look how that turned out!)

Jan 27 11:11

The Greeks Have A Simple Message To Europe

Sunday's Greek vote for anti-austerity left-wing Syriza shows the people's eagerness to stop the current bailout scheme and renegotiate a deal that's more favorable for the Greek economy. In the next several days and weeks, we'll learn a lot more about the implication of the vote, and what new leader Alexis Tsipras is capable of accomplishing; but as Bloomberg Businessweek reports, perhaps this banner displayed produly at last night's victory rally says it all...

Webmaster's Commentary: 

The ECB is taking a hard line position with Greece's debt, as any concessions made to Greece will trigger demands for debt reduction from the other EU members. The EU's position is "pay or leave", and with Russia already putting out the welcome mat, Greece might leave the EU, which in turn will trigger other member nations to consider departing the union, which has worked very well for the owners of the ECB and very badly for the people.

Jan 27 09:32

Greek Election Could Cause World Economic Crisis - Michael Rivero - Jan. 26, 2015

Jan 26 13:12

Saxo Bank: The Syriza Victory Is A Disaster For Europe

The result was worse than expected whatever the final outcome - the anti-austerity vote is massive, but it could be an empty gesture as Greece in reality has little choice: Comply with the Troika or leave the EUR. I doubt the later will happen with the same vote as the Greeks are tired of austerity but not off being European.

Webmaster's Commentary: 

That sounds like wishful thinking to me.

Jan 26 11:39

Greek F16 fighter jet crashes at Albacete airbase in central Spain

Among the victims are two pilots, one of them a Greek national. At least 13 have been wounded, including French and Italian nationals.

Eight of those injured are in serious condition. Three are in resuscitation, two are in intensive care, and one more is being operated on. Three others have inhaled fumes, sources at Albacete hospital told Cadena SER radio network.

According to abc.es, a Greek pilot executed a wrong maneuver during takeoff resulting in the jet ditching, an explosion and a massive fire. Two French planes overhead during the incident had to land at San Javier base in Murcia, 140 kilometers away.

Jan 26 11:23

What’s good for Greece is bad for Israel

While most of the world (at least the 99 percenters) are congratulating Greeks at the dawn of their new age of dignity, the Jerusalem Post warns that victory for Syriza is bad news for Israel. Upon reading the article, I could see why they’re concerned:

Jan 26 10:06

Greece elections: Merkel has lost, hope has won

In the aftermath of Greece’s seismic election, I assumed the eurocrat elite would follow the diktat, “if you have nothing nice to say, say nothing at all.” So, I cranked up the Twitter machine and within 5 seconds, I encountered this ‘gem’ from our old friend Carl Bildt. Bildt was the the Swedish Foreign Minster – and one of America’s favourite European poodles – until his own electorate voted him out last year.

Bildt’s Tweet is important because it reveals a mindset among the elite. They extol the benefits of democracy for others, while pouring scorn on the results, if they fail to suit their own agendas. An example was when they forced Ireland to vote again (twice) after initial rejections of EU treaties. Or when they speak of bringing free elections to the Middle East while refusing to deal with Palestine’s elected government, or even recognise the state’s existence.

Jan 26 10:04

Historic Victory for SYRIZA Greece

The leader of the left-wing SYRIZA Party, Alexis Tsipras, claimed a jubilant victory in Athens, Greece, on Sunday. SYRIZA took 36.5 percent of the electorate compared with the 27.7 percent for Antonis Samaras of the New Democracy Party. This is according to official election data. The far-right Golden Dawn placed third at at 6.3 percent, followed by To Potami garnering 5.9 percent of the vote party. To Potami Party is considered a potential ally of SYRIZA.

Whether it is a clear majority is yet unclear at the time of the interview. But one thing is clear: the Greek people have won a battle of reversing austerity economic policies championed by the New Democracy conservative party.

Jan 26 10:03

Triangle of Sin: Greece’s new Fin Min aims to destroy Greek Oligarchy

Listening to this man speak is like taking a breathe of fresh air after years of suffocating in a cesspool of lies.

It’s clear that he knows exactly what needs to be done as he points to the troika of rent seeking developers, bankrupt bankers, and media moguls who together are strangling his nation.

The question is, will he succeed, which turns in part on whether he survives. I for one hope he does. He is not only a genius, but a man with morals, extremely rare among finance ministers.

Jan 26 09:53

Greek leftist party Syriza sweeps to power

Greek voters handed power to a radical leftist party in national elections on Sunday, a popular rebellion against the bitter economic medicine Greece has swallowed for five years and a rebuke of the fellow European countries that prescribed it.

With nearly all votes counted, opposition party Syriza was on track to win about half the seats in Parliament. In the wee hours of the morning, it clinched a coalition deal with a small right-wing party also opposed to Europe’s economic policy to give the two a clear majority.

Webmaster's Commentary: 

Ooooooh, Radical, Radical, RADICAL! How dare they oppose the private central bankers!!!!!! :)

Jan 26 09:39

‘Monstrous democratic slap to EU’: Le Pen hails Greek anti-austerity party victory

The victory of Greece’s anti-austerity Syriza party is a monstrous democratic slap to the European Union, believes Marine Le Pen, leader of France’s far-right National Front party, adding that for her this success means "the trial of the euro-austerity.”

Jan 26 09:38

‘5yrs of humiliation, suffering over’: Anti-austerity party to form govt in Greece

Greece leaves behind five years of humiliation and suffering, fear and authoritarianism, said the leader of the winning Syriza party, Alexis Tsipras. He’s moving on Monday to build a stable government and plans to get rid of Athens’ three main creditors.

Tsipras was addressing thousands of cheering supporters at a rally in Athens. Syriza won 149 seats in the 300-seat parliament election.

Tsipras was sworn in as next Greek PM later on Monday. By Wednesday he will have a government in place, a Syriza official told Reuters.

Webmaster's Commentary: 

Needless to say, this is not getting a huge amount of coverage here in the US! The idea that a people can vote themselves free of the private central bankers is not an idea that Wall Street wants the American serf class to think about!

Jan 26 08:54

Radical Leftists Win Election In Greece – Future Of Eurozone In Serious Jeopardy

Radical leftists have been catapulted to power in Greece, and that means that the European financial crisis has just entered a dangerous new phase. Syriza, which is actually an acronym for “Coalition of the Radical Left” in Greek, has 36 percent of the total vote with approximately 80 percent of the polling stations reporting. The current governing party, New Democracy, only has 28 percent of the vote. Syriza leader Alexis Tsipras is promising to roll back a whole host of austerity measures that were imposed on Greece by the EU, and his primary campaign slogan was “hope is on the way”. Hmmm – that sounds a bit familiar.

Webmaster's Commentary: 

This is the start of a flood of what will be attacks by corporate media on Greece for DARING to want to run their country for their own people. The new definition of "Radical" is anyone not willing to live their lives in servitude to the private central banks, and I predict that the private central banks of the world will engage in massive economic dirty tricks to crush this upstart government that values people above bankers' profits!

Jan 25 11:35

Greek election: Syriza says 'hope has won' – live updates

With 100% of data processed: MRB exit poll for Star TV, give Syriza 10-point win, seat projection 148-154

Jan 25 10:04

Greeks elect new parliament amid EU withdrawal concerns

Greeks are going to polling stations on Sunday to elect a new parliament. The populist radical-leftist party Syriza has won the hearts of many austerity-ridden people with its message of reverting wages cuts and renegotiating debt obligations.

Prime Minister Antonis Samaras was forced to call a snap vote in December after the parliament failed to elect a president. His center-right New Democracy party is now running behind Syriza, with opinion polls showing a gap of several percentage points.

Syriza leader Alexis Tsipras urged his voters to give his party an outright victory of 40 percent, which would allow him to form a government with no help from other parties.

Webmaster's Commentary: 

That is because the last time Greece held elections, Syriza won, but the pro-banker politicians refused to form a coalition government, forcing a second election that Syriza lost by a razor thin margin amid reports of wide-scale election fraud.

Jan 25 09:37

Ekloges 2015: Greece Votes In Historic For Europe Election

What is at stake for Greece today? Largely the same things as in 2012, which means an appropriate question is what is at stake for Europe. The answer: a lot, because suddenly the fate of the European monetary union is in the hands of some 9.8 million eligible to vote Greeks: something the unelected bureaucrats in Brussels had hoped to avoid in perpetuity. And with the leading candidate on war footing with Brussels (if only for the time being) the next few days in Europe will be quite interesting: "In Greece, democracy will return," the party's 40-year-old leader Alexis Tsipras told a throng of cameras as he voted in Athens. "The message is that our common future in Europe is not the future of austerity."

Jan 25 09:36

Euro crisis looms as Greek Left lead poll: Fears victory for anti-austerity party could trigger panic - and force country into bankruptcy

The euro stands on the brink of its biggest ever crisis today as Greeks vote in their general election – with the anti-austerity party Syriza maintaining a four-point lead in the polls.

With the euro at its lowest value against sterling in seven years, a Syriza victory could trigger panic in the EU and the eurozone – risking bankruptcy for Greece and its exit from the euro.

Jan 24 10:24

Greek Right Fears First Left Government in Greek History

Dimitri Lascaris reports from Greece that a near six point lead for SYRIZA is raising memories of the fascist coup and civil war

Jan 23 11:35

Now Begins The Greatest Heist Since Bernanke Bailed Out Wall Street In September 2008

Well, he finally launched “whatever it takes” and that marks an inflection point. Mario Draghi has just proved that the servile apparatchiks who run the world’s major central banks will stop at nothing to appease the truculent gamblers they have unleashed in the casino. And that means there will eventually be a monumental crash landing because the bubble beneficiaries are now commanding the bubble makers.

Jan 23 11:15

Greece Set To Reject Austerity And Financial Oligarchy

In two days time Greece is due to go to the polls and Syriza, a party looking to say no to ridiculous and unmanageable debts, is set to take power. This has the potential to cause a huge shift in economic policy throughout the world as it identifies austerity as a failed policy route. But not everyone in the Euro thinks it is a bad idea for the Greeks to do this, Hollande had no issue here but subsequently had his nation fall victim to a terrorist attack. This has the potential to cause huge changes in a world currently dominanted by Anglo-American financial hegemony.

Jan 23 11:13

SYRIZA Heads Towards a Majority in Greece as Elections Approach

The coalition of the radical left SYRIZA Party is poised to win the parliamentary elections on January 25 in Greece. If SYRIZA win, they could form the next government and confront the catastrophic austerity agenda that has plagued Greece and thrown it into a severe economic crisis. The possibility of SYRIZA-led government is sending chills down the spines of the European power centers in Berlin and in Paris and at the European Union headquarters in Brussels.

Jan 22 19:07

Currency expert: Euro going ‘well below parity’

The euro plunged to an 11-year low on Thursday, after the European Central Bank announced that it would begin a 60-euro monthly asset purchasing program. But it could still have a ways to fall.

Jan 22 13:31

SocGen Explains That Since The ECB's QE Will Fail, It Will Need To Be Increased To €3 Trillion, Include Stocks

There are a bunch of things in the ECB post-mortem note just released by SocGen's Michel Martinez, reproduced below, but here are the punchlines.

First, on the impact of ECB QE on the economy: "we argue ECB QE could be five times less efficient than in the US. In December, press reports suggested that the ECB had run studies suggesting that a €1000bn QE programme would only boost price levels by 0.2-0.8 after two years, five to nine times less efficient than the studies for the US or the UK. The impact on GDP is not provided, but it would be reasonable to assume the same impact as on inflation on a cumulated basis."

In other words, it will be an outright failure as it "triest" to boost inflation expectations and the European economy in its current format. That, as a reminder, is its stated purpose.

So what does SocGen suggest? Simple: the same thing every Keynesian says when justifying why a piece of occult economic voodoo fails to work: it wasn't big enough. To wit:

Jan 22 12:37

Ukraine requests fresh IMF bailout

Ukrainian President Petro Poroshenko has asked the IMF for a new and broader rescue package, IMF head Christine Lagarde said on Wednesday (Jan 21) as the war-torn country fights to save its reeling economy.

Lagarde met Poroshenko on the sidelines of the World Economic Forum in Davos and said Ukraine requested that the Washington-based IMF deepen its relationship with Kiev.

The meeting took place soon after Poroshenko told an audience of the world's financial elite in Davos that 9,000 Russian troops were backing Ukrainian separatist fighters.

Jan 22 12:35

European Commission's Clever Ruse To Introduce Corporate Sovereignty Regardless Of Ratification Votes In EU

Because of the complicated nature of power-sharing in the European Union, some international agreements require the approval of both the European Parliament and of every Member State -- so-called "mixed agreements." It is generally accepted that both the Canada-EU trade agreement (CETA) and TAFTA/TTIP are mixed agreements, and will therefore require a double ratification: by the full European Parliament, and all the EU governments. Indeed, the European Commission has frequently cited this fact to bolster its assertion that both CETA and TAFTA/TTIP are being negotiated democratically, since the European public -- through their representatives -- will have their say in these final votes.

Jan 22 12:34

European Commission's Clever Ruse To Introduce Corporate Sovereignty Regardless Of Ratification Votes In EU

Because of the complicated nature of power-sharing in the European Union, some international agreements require the approval of both the European Parliament and of every Member State -- so-called "mixed agreements." It is generally accepted that both the Canada-EU trade agreement (CETA) and TAFTA/TTIP are mixed agreements, and will therefore require a double ratification: by the full European Parliament, and all the EU governments. Indeed, the European Commission has frequently cited this fact to bolster its assertion that both CETA and TAFTA/TTIP are being negotiated democratically, since the European public -- through their representatives -- will have their say in these final votes.

Jan 22 12:31

Greek Bank Withdrawals Reached €4.2 Billion in 3 Days

Webmaster's Commentary: 

Yep; It's a bank run!

Jan 22 10:31

Greece - By The Numbers

Greece is reeling from the effects of the biggest economic crisis in its recent history. Here are 12 statistics, via The Wall Street Journal, underscoring the severity of the crisis now reaching into all aspects of Greek life...

Jan 22 10:01

SNB official defends 'best option' for franc

Switzerland would have had to spend more than $100 billion this month alone if it had continued efforts to hold down the value of its currency, a senior central bank official said on Thursday.

Jan 22 09:55

Greece Elections – Why The Entire World Is Watching!

This Sunday the citizens of Greece will be voting in a national election that will serve as a referendum on the EU-invoked austerity program that the country has been living through!

At stake is the decision that a newly elected government might make to pull Greece out of the Eurozone in what has widely become termed Grexit.

At stake also is the impact that a win by an anti-austerity and anti-EU party might have on the politics of other Eurozone countries that face similar issues and, perhaps, on the viability of the Eurozone itself.

Jan 21 13:47

Former White Official Exposes Shocking Real Reason For Historic 58-Sigma Move By Swiss

What actually happened was the Swiss National Bank realized that the balance sheet of the central bank’s ratio to the Swiss GDP had already reached a level of nearly 100 percent. And given what’s going on in the world — we’ve got inflation of 23 percent in Argentina, it’s projected to be 17 percent in Russia — inflation is picking up rapidly in many parts of the world and social unrest is unfolding. All of that gives Switzerland inbound capital flight from other countries.

They concluded that the combination of euro quantitative easing, plus the inbound capital flight and the likelihood of more geopolitical confrontation with Russia, which also pushes money into Switzerland — all of that put them on a trajectory so that if they would have continued to defend the currency peg, the Swiss National Bank's balance sheet would have been over a staggering 200 percent of GDP within one year.

Jan 21 13:32

Right on cue: ECB to flood the market with cash

A proposal from the European Central Bank’s Frankfurt-based executive board calls for bond purchases of roughly €50 billion ($58 billion) a month that would last for a minimum of one year, according to people familiar with the matter, an indication that officials are weighing massive stimulus to shore up the eurozone’s fragile economy and boost inflation.

Webmaster's Commentary: 

So the ECB (like the FED) creates a ton of cash out of think air to buy up government and corporate bonds, which means eventually the ECB (like the FED) basically own the governments and corporations ... and all for the cost of ink and paper.

Jan 21 08:07

Why Are Central Bankers Surprised by Monetary Disasters?

Again we see the adoption of a dialectical position. The mainstream media has been in full cry over the necessity for money printing and central bank bond purchases.

Now, comes a BIS former official – apparently someone with considerable clout – who says exactly the opposite thing. William White has come onto the record warning against what the European Central Bank plans to do as soon as possible.

Jan 20 10:32

First It Refused To Bail Out Its Insolvent Banks; Now Iceland Set To Officially Withdraw European Union Application

Iceland may be a small country, but when it comes to dealing with big problems it is truly the modern equivalent of David in the battle against the status quo Goliath. First, it was Iceland, and only Iceland, refusing to bail out its banks, when every other western nation was being held hostage by those who stood to lose the most from a financial collapse, and even going so far as throwing some of its banking executives in prison. And now, as MBL reports, Iceland's con­ser­v­a­tive In­de­pen­dence Party will sup­port a res­o­lu­tion in par­lia­ment to for­mally with­draw Ice­land's ap­pli­ca­tion to join the Eu­ro­pean Union.

Jan 20 09:52

European Parliament resolution of 15 January 2015 on the situation in Ukraine

A. whereas on 26 October 2014 Ukraine held parliamentary elections, which were conducted efficiently, in an orderly and peaceful manner and with general respect for fundamental freedoms, in spite of the ongoing conflict in the eastern regions and the illegal annexation of Crimea by Russia;

Webmaster's Commentary: 

European Parliament Legitimizes Lies

Jan 19 11:01

Would forgiving Greece’s debt really be that bad?

"A debt is a debt and it is a contract," IMF Managing Director Christine Lagarde told The Irish Times in an interview on Monday when asked about the general idea of holding a debt conference. "Defaulting, restructuring, changing the terms has consequences on the signature and the confidence in the signature," she said.

Webmaster's Commentary: 

The instant Greece's debt is forgiven, every other EU member will demand the same. That is the reason for Christine Legarde's hard line.

Jan 19 09:53

Switzerland May Be Preparing for the End of the Euro

If you haven’t been paying attention in the last 24 hours, the currency and equity markets have been rocked by a surprise move to delink the existing currency peg between the Euro and the Swiss Franc. This move has set off what many are calling a “financial tsunami” that could leave behind a path of destruction across the continent.

Webmaster's Commentary: 

This is a "Bash the Swiss" article, but the reality is that with the ECB about to launch QE across Europe, the Swiss saw the losses from the resulting inflation as too great to accept.

Jan 19 08:05

Netanyahu says Europe's 'Islamization' pushing Israel to expand Asia trade

Israeli Prime Minister Benjamin Netanyahu said on Sunday that a wave of anti-Semitism and what he called “Islamization” in Western Europe are factors in the government’s push to expand trade with Asia.

Jan 19 07:59

ECB Stimulation: The Trap Closes

European Economy ... No More Excuses for Draghi ... For months, European Central Bank President Mario Draghi has hinted that he's ready to announce a full-blown program of quantitative easing. [Now] the EU Court of Justice's advocate general cleared away a possible legal obstacle.

Webmaster's Commentary: 

... which triggered the Swiss unpegging.

Beyond that, there is a simple process at work here. In a world using a debt-based currency issued by private central banks, the process of QE is how those bankers, using just ink and paper and numbers in a computer, come to own all the hard assets of planet earth.

Jan 18 22:14

Hedge Fund Manager Who Survived Five Debt Crises Wiped Out Overnight on Swiss Franc

Marko Dimitrijevic, the hedge fund manager who survived at least five emerging market debt crises, is closing his largest hedge fund after losing virtually all its money this week when the Swiss National Bank unexpectedly let the franc trade freely against the euro, according to a person familiar with the firm.

Jan 18 09:32

Berlin in constant fear ECB will be lender of last resort

The European Central Bank faces another moment of truth as its governors debate whether to buy up the sovereign bonds of euro zone countries to avert a deflationary spiral. At issue still is the attitude of the German faction in the bank, which is resolutely opposed to such moves. But what explains this stance?

The stock response is that German hypersensitivity over the use of central bank printing presses can be traced right back to the country’s painful encounter with hyperinflation in the 1920s, when the Weimar Republic printed more and more banknotes to finance expenditure.

Jan 18 09:21

The Rothschilds Own Charlie Hebdo? Editors Girlfriend Works For The Rothschilds.

Jan 18 08:52

Everest Macro Hedge Fund Blows Up After Nearly $1 BIllion In Swiss Franc Losses

We also added that "We have yet to find out just which hedge funds were blown up yesterday", for the simple reason that unlike public banks who have an obligation to reveal news, especially bad, to their shareholders, hedge funds PMs hope to avoid the LP firing squad until the last second. Alas, there is only so long that the day of reckoning can be delayed.

One such fund is the Everest Capital Global macro fund, which went from just shy of a billion to zero in milliseconds as a result of a near wipe out due to a massive CHF-short position.

Jan 18 08:39

Greek Bank Runs Herald Exit From Eurozone

A fiat currency is only worth what people think it is worth. That goes for a country’s banking system as well. In Greece, where the Eurozone crisis started almost five years ago, it seems the Greek people do not have much faith in their banking institutions.

The bank runs have started. Who knows where this current round of Greek tragedy will end? I can say it will not end well.

Jan 17 10:42

Muscular Swiss franc creates financial havoc in Poland and Hungary

The fallout from the decision taken by the Swiss National Bank to remove the cap on its currency is a dream for some and a nightmare for others.

In Geneva queues formed outside foreign-exchange offices as those with Swiss francs hastily changed them into euros while the going was good.

One such man expressed his delight: “For me it is excellent news, for everything, for holidays, for shopping. I do a lot of shopping in France it is cheaper than in Switzerland and now its even cheaper we must seize the moment.”

Not much chance for cheer in Poland where more than 1.5 million are exposed to higher interest repayments on Swiss loans.

Jan 16 12:35

Currency Carnage: Why did the Swiss Pull the Peg?

As usual. Dr. Paul Craig Roberts, former assistant secretary of the US treasury, provides crucial (and scathing) analysis of both US government policies and recent events in FOREX markets. He offers this simple explanation for why the Swiss central bank removed the currency peg they initiated on their franc only three years ago, leaving behind a landscape littered with currency carnage:

The answer is that the EU attorney general ruled that it was permissible for the EU central bank to initiate Quantitative Easing–that is, the printing of new euros–in order to bail out the mistakes of the private bankers. This decision means that Switzerland expects to be confronted with massive flight from the euro and that the Swiss central bank is unwilling to print enough new Swiss francs to maintain the peg. The Swiss central bank believes that it would have to run the printing press so hard that the basis of the Swiss money supply would explode, far exceeding the GDP of Switzerland.

Jan 16 08:48

Fallout From Swiss Move Hits Banks, Brokers

Fallout from Switzerland’s wildly swinging currency ricocheted around the world, hitting global banks with tens of millions of dollars in losses and triggering the collapse of some brokerage firms.

Webmaster's Commentary: 

Everyone is blaming the Swiss, but the fact is the entire global private central bank scam has been held together with fraud and deception for years now, and it has to break at some point. Inevitably, there must be an event that escapes the ability of the banks and governments to control. If it isn't Switzerland, it will be something else.

Jan 16 07:39

These investments could get creamed in the Swiss avalanche

Now brace for everything you ever could have wanted to know about the country’s impact on global markets, but were afraid to ask. The whiz kids have had a few sleepless hours to think yesterday’s bombshell over, and some are worried about the after shocks.

Jan 16 07:33

Swiss National Bank Tells the World – “We’re Gettin’ Off This Train!”

Since 2008 the entire financial world has been turned upside down. In late 2011 the Swiss decided to peg their currency to the Euro, in essences giving up their national currency for the debt soaked Euro experiment.

When the Swiss pegged the Franc to the Euro, the Swiss people sold their sovereignty to the European Union. Approximately 22% of the people wanted their sovereignty back and voted on November 30, 2014 to repatriate their gold and reclaim their nation. Unfortunately, the other 78% (less the people that did not vote) said they were perfectly happy being debt slaves to their overlords at the European Central Bank. Thomas Jordan, the President of SNB, was actually campaigning AGAINST the gold repatriation movement, which in light of today’s announcement seems to be a contrarian move!! Why would a person vote against reclaiming their gold and then do a complete 180 degree turn against your own policy!!! This seems like it is going to have an ugly ending.

Jan 15 21:05

Moscow... Or Geneva?

A month ago, when the Russian Ruble was crashing, developed nations were delighted to poke fun of Russians who lined up in front of currency exchange kiosks, supposedly to convert their rapidly devaluing Rubles into Dollars or other rising fiat.

Today, those same developed nation hecklers are deathly silent after what may be the biggest western central bank faux pas in recent history, and which in addition to sending the Swiss Franc soaring has - perhaps for the first time in history - manifested in lines of people in front of currency exchange bureaus nowhere else, but in that bastion of capitalism: Geneva.

Jan 15 21:00

The Greek Bank Runs Have Begun: Two Greek Banks Request Emergency Liquidity Assistance

The first time the phrase Emergency Liquidity Assistance, or ELA, was used in the context of Greece was in August 2011, when Greece was imploding, when its banking sector was on the verge of collapse, and just before the ECB had to unleash a global coordinate bailout with other central banks including global central bank liquidity swap to preserve the Eurozone.

Jan 15 11:17

Déjà vu in France

I’m getting a big déjà vu feeling in the aftermath of the Charlie Hebdo killings in France.

The French government is declaring war on terrorism. It’s militarizing French society. It’s proposing a Patriot Act. It’s supporting a mass surveillance scheme. It’s advocating killing more people in the Middle East. There is even talk of using military tribunals to try terrorism cases.

Hey, those were all things that U.S. officials did after the 9/11 attacks. No wonder I’m getting a déjà vu feeling!

I’ll bet the German people are getting a bit of déjà vu too. That’s because their former president, Adolf Hitler, took the same sort of measures after the terrorist attack on the Reichstag. That’s what the Enabling Act was all about.

Jan 15 10:00

Swiss mess could make oil plunge seem like minor hiccup

While you were sleeping, all hell broke loose in Switzerland, as the central bank ditched its currency cap against the euro after four years and slashed interest rates to negative 0.75%. The Swiss franc is rallying wildly, while the Swiss stock market is cratering and U.S. stock futures are mostly on the losing side as investors figure out this latest shock to the markets

Jan 15 07:18

Russia Cuts Off Ukraine Gas Supply To 6 European Countries

Vladimir Putin ordered the Russian state energy giant Gazprom to cut supplies to and through Ukraine amid accusations, according to The Daily Mail, that its neighbor has been siphoning off and stealing Russian gas. Due to these "transit risks for European consumers in the territory of Ukraine," Gazprom cut gas exports to Europe by 60%, plunging the continent into an energy crisis "within hours." Perhaps explaining the explosion higher in NatGas prices (and oil) today, gas companies in Ukraine confirmed that Russia had cut off supply; and six countries reported a complete shut-off of Russian gas. The EU raged that the sudden cut-off to some of its member countries was "completely unacceptable," but Gazprom CEO Alexey Miller later added that Russia plans to shift all its natural gas flows crossing Ukraine to a route via Turkey; and Russian Energy Minister Alexander Novak stated unequivocally, "the decision has been made."

Jan 14 19:52

PATHETIC SPIN - Russia Is Losing Control Over The European Gas Market

Oil isn't Russia's only problem.

The energy exporter is losing its dominance over the European gas market.

Webmaster's Commentary: 

Russia isn't losing anything. They shut off the valves today for non-payment of the bill!

Jan 14 16:32

Europe plunged into energy crisis as Russia cuts off gas supply via Ukraine

The European Union in Brussels called the sudden cut-off to some of its member countries 'completely unacceptable'.

Jan 14 15:16

Gazprom warns EU to link to Turkey pipeline or lose Russian gas

Russia's Gazprom giant on Wednesday urged the European Union to link up to its planned energy pipeline to Turkey or lose the gas that now transits Ukraine.

Jan 14 15:12

Europe plunged into energy crisis as Russia cuts off gas supply via Ukraine

Russia cut gas exports to Europe by 60 per cent today, plunging the continent into an energy crisis 'within hours' as a dispute with Ukraine escalated.

This morning, gas companies in Ukraine said that Russia had completely cut off their supply.

Six countries reported a complete shut-off of Russian gas shipped via Ukraine today, in a sharp escalation of a struggle over energy that threatens Europe as winter sets in.

Bulgaria, Greece, Macedonia, Romania, Croatia and Turkey all reported a halt in gas shipments from Russia through Ukraine.

Croatia said it was temporarily reducing supplies to industrial customers while Bulgaria said it had enough gas for only 'for a few days' and was in a 'crisis situation'.

Jan 14 13:20

Russia President Not Welcome at Auschwitz Liberation Anniversary

The standard practice for an event such as this would be for the host country to send out formal invitations.

However, specifically to avoid having to send a formal invitation to Russia president Poland did not send out invitations to anyone.

Instead she sent out mere notifications that event is going to take place.

After asking for a clarification whether it is invited or not Russia correctly concluded it is not welcome by the host country.

Webmaster's Commentary: 

I rather suspect that Putin is perfectly happy not to have to sit through this nonsense one more time.

Jan 13 11:05

Italy’s President Napolitano Set to Resign in Renzi Dilemma

Giorgio Napolitano, Italy’s longest-serving president, is set to resign as soon as tomorrow, after citing fatigue and his advanced age among the reasons that convinced him to step down before the end of his second seven-year term.

Matteo Renzi, the 40-year-old local politician picked by Napolitano to become prime minister, said today the president would resign “within hours.” Corriere della Sera newspaper said Napolitano would take the official step mid-morning tomorrow.

Jan 12 08:59

EU response to free speech killings? More internet censorship

In the wake of this week’s terrorist attacks in Paris, which began with the killing of 12 people at the offices of satirical publication Charlie Hebdo, the interior ministers of 12 EU countries have called for a limited increase in internet censorship.

The interior ministers of France, Germany, Latvia, Austria, Belgium, Denmark, Spain, Italy, the Netherlands, Poland, Sweden and the U.K. said in a statement (PDF) that, while the internet must remain “in scrupulous observance of fundamental freedoms, a forum for free expression, in full respect of the law,” ISPs need to help “create the conditions of a swift reporting of material that aims to incite hatred and terror and the condition of its removing, where appropriate/possible.”

Jan 11 09:49

US to boost European contingent with 3,000 troops, 150 tanks in 2015 – report

The US plans to send 3,000 more troops and over 150 tanks to Europe by the end of ear to bolster its presence on the region, a top commander announced.

Jan 11 09:45

NATO expansion in E. Europe ‘destroys EU security order’ – Gorbachev

The expansion of NATO into Eastern Europe has destroyed the European security order, former Soviet President Mikhail Gorbachev told Der Spiegel, adding that the Ukraine crisis could easily lead to nuclear war.

Jan 09 15:17

Top Russian, American and Polish Leaders Warn that Continued Fighting In Ukraine Could Lead to Nuclear War

Former Soviet leader and Nobel price winner Mikhail Gorbachev warned today that the battle in Ukraine could result in a nuclear war.

Webmaster's Commentary: 

"That's okay; we got plenty of bombs! And I have a bunker!" -- Official White Horse Souse

Jan 09 11:24

Russia and China: The Dawning of a New Monetary System?

China, leading member of the BRICS, is lining up the bloc of the BRICS and that of the SCO – and their currencies – to support Russia in need. Currency swaps between Russia (ruble) and China (yuan) for an initial US$ 25 billion equivalent have already been implemented, to allow direct transactions between the two countries. Similar swaps are under way between China and Russia with other countries, primarily the BRICS and the SCO (Shanghai Cooperation Organization) members – including the soon to become new members – Iran, Pakistan, India (also a BRICS member) and Mongolia – and possibly in some not too distant future also strategically located NATO member Turkey.

Jan 09 09:52

Euro sinks to fresh nine-year low

The euro has hit a fresh nine-year low against the dollar, in part after a surprise decrease in German manufacturing.

Jan 09 08:04

How Goldman Sachs May Provoke Yet Another Major Financial Crisis

Greece and the troika (the International Monetary Fund, the EU, and the European Central Bank) are in a dangerous game of chicken. The Greeks have been threatened with a “Cyprus-Style prolonged bank holiday”if they “vote wrong.” But they have been bullied for too long and are saying “no more.”

Jan 09 07:50

Pentagon cutting expenses, consolidating bases in Europe

The United States Department of Defense has announced a restructuring of operations in Europe, including the closure of 15 American bases that will be offered over to host nations.

Jan 09 07:49

"Europe Can't Afford A Greek Exit" German Opposition Warns Merkel Is "Playing With Fire"

The mainstream media narrative - that Germany is ready and prepared for Grexit and that it is no longer a threat to financial stability - is all hype, according to German opposition finance minister Joachim Poss. As Bloomberg reports, all that is mostly posturing for an electorate tired of the aid and angst Greece has demanded since 2010. Simply put, the potential for Euro instability from a Grexit is a detriment to Germany's massive benefits from the single currency - "Europe can’t afford a Greek exit," Poss concludes, complacency by Merkel is "playing with fire."

Jan 09 07:46

NATO calls Russia anti-terror ally after Paris attack

NATO, which was at loggerheads with Russia over the Ukrainian crisis, will be seeking ‘a more cooperative and constructive relationship’ with Moscow in the fight against terror, the block’s chief said after Wednesday’s deadly attack in Paris.

Webmaster's Commentary: 

"No, wait ... that wasn't supposed to happen! You're supposed to hate the 'terrorists' AND Russia!!" -- Official White Horse Souse

Jan 09 07:25

‘I can fix EU problem’: Cameron in Merkel reform talks

British Prime Minister David Cameron says he is “convinced” he can mend the relationship between Britain and the EU, as pressure grows to call a referendum on UK membership.

Jan 08 12:18

OPERATION ATLANTIC RESOLVE

Persistent presence land forces assurance exercises are the first in a series of expanded U.S. land force training activities in Poland and the Baltic region taking place for the next few months and beyond. The exercises, conducted by U.S. Army Europe Soldiers and host nation forces, are a demonstration of U.S. commitment to NATO and to our collective defense responsibilities through increased ground, air, and naval force presence.

The intent of the supplementary exercises is to reassure NATO allies that the U.S. commitment to meeting our nation’s Article 5 obligations is unwavering. Accordingly, U.S. Army Europe has deployed a company-sized contingent of U.S. paratroopers from the 173rd Airborne Brigade, to Poland, Lithuania, Estonia, and Latvia, roughly 600 Soldiers in all, to conduct the expanded land force training. This action comes at the request of the host nation governments.

Jan 08 09:14

Eurozone Falls Into Deflation; ECB About to Do Something Stupid

Economists are in shock over what should be a welcome event. Deflation is exactly what consumers need. Some say this increases the likelihood the ECB will act on January 22.

Actually, it does nothing of the kind. The ECB is already 100% certain to do something counterproductive, and odds cannot exceed 100%.

Jan 07 10:33

Ukraine preparing for war despite peace talks

In the face of ongoing ceasefire talks in Berlin and a summit next week in Kazakhstan, Ukraine is arming its military for war. European leaders are becoming less optimistic about the Kazakhstan plan.

Germany and France cast doubt on next week's planned peace talks in Astana, Kazakhstan on Monday. At a four-way meeting attended by top diplomats from the two EU nations as well as Russia and Ukraine, officials said a new summit only makes sense if "real progress" is made in implementing the Minsk peace accord.

Despite these talks, Ukraine has beefed up its heavy weaponry, German news agency DPA reported. Ukrainian President Petro Poroshenko himself was on hand to deliver fighter jets, howitzers, and armored cars to the military in Zhytomyr in the north of the country.

"I am convinced that 2015 will be the year of our victory," Poroshenko said. "In order to achieve that, we need a strong, patriotic, and well-equipped army."

Jan 07 09:08

EU Showdown: Greece Takes on the Vampire Squid

Greece and the troika (the International Monetary Fund, the EU, and the European Central Bank) are in a dangerous game of chicken. The Greeks have been threatened with a “Cyprus-Style prolonged bank holiday” if they “vote wrong.” But they have been bullied for too long and are saying “no more.”

A return to the polls was triggered in December, when the Parliament rejected Prime Minister Antonis Samaras’ pro-austerity candidate for president. In a general election, now set for January 25th, the EU-skeptic, anti-austerity, leftist Syriza party is likely to prevail. Syriza captured a 3% lead in the polls following mass public discontent over the harsh austerity measures Athens was forced to accept in return for a €240 billion bailout.

Austerity has plunged the economy into conditions worse than in the Great Depression. As Professor Bill Black observes, the question is not why the Greek people are rising up to reject the barbarous measures but what took them so long.

Webmaster's Commentary: 

I just hope that the head of this opposition party, Alexis Tsipras, is wearing his Kevlar undies these days.

The real danger here is not Greece pulling out of the EU, but the way in which it will trigger credit default swaps, which could have a global impact, crashing the Euro.

Jan 07 09:04

EU Showdown: Greece Takes on the Vampire Squid

Greece and the troika (the International Monetary Fund, the EU, and the European Central Bank) are in a dangerous game of chicken. The Greeks have been threatened with a “Cyprus-Style prolonged bank holiday” if they “vote wrong.” But they have been bullied for too long and are saying “no more.”

A return to the polls was triggered in December, when the Parliament rejected Prime Minister Antonis Samaras’ pro-austerity candidate for president. In a general election, now set for January 25th, the EU-skeptic, anti-austerity, leftist Syriza party is likely to prevail. Syriza captured a 3% lead in the polls following mass public discontent over the harsh austerity measures Athens was forced to accept in return for a €240 billion bailout.

Austerity has plunged the economy into conditions worse than in the Great Depression. As Professor Bill Black observes, the question is not why the Greek people are rising up to reject the barbarous measures but what took them so long.

Jan 06 12:56

Greek Bonds Tumble As Report Sees "Decisive Victory" For Syriza

As The FT reports, forecasting group Oxford Economics says it has carried out an "in-depth" analysis of opinion polls ahead of Greece's snap general election on January 25, which shows that the radical Syriza party is on course to win a "clear mandate" to push through anti-austerity policies. Will German worry now?

Webmaster's Commentary: 

EVERYONE will worry. Syriza's majority is too large to defeat with election fraud. There may even be assassination attempts on their candidates. But when Syriza wins, Greece will follow Iceland's example and simply write off that portion of Greek debt attributable to fraud, which is about half of it. Greece may even leave the EU. And either case will start to trigger those credit default swaps, and while the bankers are in a position to deny the faults, doing so will collapse the derivatives market.

Jan 06 12:44

US Army Plans to Send Abrams Tanks and Bradleys to Eastern Europe

The new Army commander in Europe plans to bolster the U.S. armored presence in Poland and the Baltic states and keep rotations of U.S. troops there through next year and possibly beyond to counter Russia.

Jan 06 12:42

Ukraine preparing for war despite peace talks

In the face of ongoing ceasefire talks in Berlin and a summit next week in Kazakhstan, Ukraine is arming its military for war. European leaders are becoming less optimistic about the Kazakhstan plan.

Jan 06 10:26

Germany, France Pushing for End to Russia Sanctions

The US is keen to keep imposing new sanctions on Russia ad infinitum, and German vice-chancellor Sigmar Gabriel warned that there are forces in the European Union who are keen to do the same to “cripple Russia.”

With the ceasefire in eastern Ukraine holding, Germany and France are both increasingly pushing back against those sanctions, however, with French President Francois Hollande calling for sanctions to be ended outright.

Jan 06 09:08

Libyan warplane bombs Greek-operated oil tanker at port, two dead

A Libyan warplane from forces loyal to the internationally recognised government bombed a Greek-operated oil tanker anchored off the coast, killing two crewmen in an escalation of hostilities between factions vying to rule the country.

Jan 06 08:18

CETA should have a GMO warning label on it in Europe

Genetically modified (GM) food is more strictly regulated in the European Union than it is in Canada or the United States. The Canada-European Union Comprehensive Economic and Trade Agreement (CETA) and the United States-European Union Transatlantic Trade and Investment Partnership (TTIP) will increase the risk of GM food entering Europe.

Jan 06 07:25

Oil Falls Below 50 As Global Financial Markets Begin To Unravel

On Monday, the price of oil fell below $50 for the first time since April 2009, and the Dow dropped 331 points. Meanwhile, the stock market declines over in Europe were even larger on a percentage basis, and the euro sank to a fresh nine year low on concerns that the anti-austerity Syriza party will be victorious in the upcoming election in Greece. These are precisely the kinds of things that we would expect to see happen if a global financial crash was coming in 2015.

Jan 05 19:48

Iceland to Withdraw EU Application: Prime Minister

Iceland is expected to withdraw its application to become a member of the European Union, the Reykjavik Grapevine reported Monday, citing the country's prime minister.

Webmaster's Commentary: 

That European Union isn't looking so attractive these days!

Jan 05 14:18

Soros: EU must take on new debt for a war against Russia.

The US investor George Soros urges Europe to a “war effort,” higher budget deficits to prepare for a war against Russia. Soros also calls for $ 20 billion in new loans from EU taxpayers for Ukraine.

Jan 05 08:40

The Chinese are Coming: Beijing in the Balkans and Eastern Europe

The chatter about Beijing’s economic surge coincided well with its Balkans drive, yet another means by which the Chinese business juggernaut is seeking satiation. Chinese diplomats and figures are not strangers to the region.

Last month, Beijing exerted its already noted muscle in the southern European, Balkans region, holding discussions with Serbian counterparts on further financial involvement. The point of convergence was the Central and Eastern European-China summit, continuing last years 16+1 initiative begun in Bucharest.

Webmaster's Commentary: 

To minimize the time goods get from China and Asia to Europe will also make those goods more attractive, from a price point perspective, to potential European companies.

Jan 05 08:09

Russia's "Startling" Proposal To Europe: Dump The US, Join The Eurasian Economic Union

In other words, just as slowly, the world is starting to grasp the bottom line: it is not the financial exposure to Russia, or the threat of financial contagion should Russia suffer a major recession or worse: it is something far simpler that will lead to the biggest harm for Europe's countries. The lack of trade. Because while central banks can monetize everything, leading to an unprecedented asset bubble which if only for the time being boosts investor and consumer confidence, they can't print trade - that all important driver of growth in a globalized world long before central banks were set to monetize over $1 trillion in bonds each and every year to mask the fact that the world is deep in a global depression.

Jan 05 07:44

‘Political manipulation’: Germany wants new Greek govt to obey forced administration

The German government insists it wants Greece to stay in the eurozone and isn’t drafting any contingency plans in case of ‘Grexit’. This shows Germany is adamant about keeping Greece under the domination of the 'troika', journalist Ernst Wolff told RT.

“The goal of the German government, the European Union and even the government in Athens itself is to keep Greece in the euro zone," German Vice Chancellor Sigmar Gabriel said in an interview on Sunday.

"There were no, and there are no, other plans to the contrary," he added, without directly refuting Der Spiegel’s report that a common belief in the German government was that the eurozone is stable enough to cope with potential Greece exit.

"That's why we can't be blackmailed and why we expect the Greece government, no matter who leads it, to abide by the agreements made with the EU," Gabriel added, echoing an earlier statement by a high-ranking member of German Chancellor Angela Merkel’s party, Michael Fuchs.

Webmaster's Commentary: 

So if Greece defaults on its EU debt, what is Germany going to do, INVADE?!?

I think not.

Jan 05 07:17

Greek euro exit would be ‘Lehman Brothers squared’: economist

A decision by a new Greek government to leave the eurozone would set off devastating turmoil in financial markets even worse than the collapse of Lehman Brothers in 2008, a leading international economist warned Saturday.

A Greek exit would likely spark runs on Greek banks and the country’s stock market and end with the imposition of severe capital controls, said Barry Eichengreen, an economic historian at the University of California at Berkeley. He spoke as part of a panel discussion on the euro EURUSD, -0.77% crisis at the American Economic Association’s annual meeting.

The exit would also spill into other countries as investors speculate about which might be next to leave the currency union, he said.

Webmaster's Commentary: 

The real problem here, should Greece leave the Euro, and default on their debt, there is a potential crash of credit default markets, which could well go global.

Jan 05 07:01

Russia's "Startling" Proposal To Europe: Dump The US, Join The Eurasian Economic Union

Russia has presented a startling proposal to overcome the tensions with the EU: The EU should renounce the free trade agreement with the United States TTIP and enter into a partnership with the newly established Eurasian Economic Union instead. A free trade zone with the neighbors would make more sense than a deal with the US.

It surely would, but then how will Europe feign outrage when the NSA is found to have spied yet again on its "closest trading partners?" Some more on Russia's proposal from EUobserver:

Vladimir Chizhov told EUobserver: “Our idea is to start official contacts between the EU and the EAEU as soon as possible. [German] chancellor Angela Merkel talked about this not long ago. The EU sanctions [on Russia] are not a hindrance”

Webmaster's Commentary: 

love Putin or hate him, he 20,000 chess moves ahead of the US government in presenting this proposal to Europe!!

And Europe, collectively, may well have had just enough of US governmental bullying and NSA spying to say yes to the proposal!!

Jan 04 09:19

Germany warns against tougher sanctions on Russia

Germany's deputy chancellor, Sigmar Gabriel, has warned against destabilizing Russia through too severe sanctions over the Ukraine crisis. He said an unstable Russia would pose a danger to all of Europe.

Webmaster's Commentary: 

"That is a small price to pay to GET THOSE @#$%ING ROOSKIES!!!!" -- Official White Horse Souse

Jan 04 08:43

French military intervention in Libya 'within 3 months': sources

France could launch a military intervention in Libya within three months, according to an Arab diplomat who spoke to Arabic-language newspaper al-Sharq al-Awsat.

The official, who asked not to be named, told the newspaper on Saturday that the question currently under discussion in Paris is not whether France will launch strikes in crisis-hit Libya, but when.

Webmaster's Commentary: 

Third invasion of Iraq, now the second invasion of Libya; the war to force the world back to the dollar isn't going so well!

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