Archive
Global systemic crisis / World geopolitical breakup – End of 2011: Fall of the “Petro-dollar wall”
In sharp reversal, U.S. agrees to rebuke Israel in Security Council
Posted By Colum Lynch
The U.S. informed Arab governments Tuesday that it will support a U.N. Security Council statement reaffirming that the 15-nation body “does not accept the legitimacy of continued Israeli settlement activity,” a move aimed at avoiding the prospect of having to veto a stronger Palestinian resolution calling the settlements illegal.
But the Palestinians rejected the American offer following a meeting late Wednesday of Arab representatives and said it is planning to press for a vote on its resolution on Friday, according to officials familiar with the issue. The decision to reject the American offer raised the prospect that the Obama administration will cast its first ever veto in the U.N. Security Council.
Still, the U.S. offer signaled a renewed willingness to seek a way out of the current impasse, even if it requires breaking with Israel and joining others in the council in sending a strong message to its key ally to stop its construction of new settlements. U.S. officials were not available for comment, but two Security Council diplomats confirmed the proposal.
The Palestinian delegation, along with Lebanon, the Security Council’s only Arab member state, asked the council’s president late Wednesday to Read more…
The Fed is Wrong About Commodity Prices
Author: David Weinstein
I imagine he has to say it, but Bernanke is wrong when he says US monetary policy has nothing to do with international commodity prices. At the height of the Egyptian crisis, which was partly driven by rising food prices, Bernanke couldn’t say, “Oh yea, US policy economic policy is part of the problem in Egypt.” This attitude, however, is both prevalent and respected, and it’s largely wrong.
First of all, commodities as a group are not commoditized – they are not all the same. For instance, the amount of gold in the world is largely fixed relative to annual gold production. Along with its historical position as a store a value, Gold’s consistent volume about ground is a primary reason for its currency-like quality; i.e. almost entirely driven by overall liquidity. Corn production, on the other hand can vary greatly from year to year given the amount of land devoted to it and the weather. Oil is somewhere in the middle because production can vary, but the worlds known reserves are relatively fixed. The resulting differences in price volatility have been studied ad nauseam and are most simply articulated by the so-called ‘cob-web model’ (see chart below).
Very simply put: Read more…
Kill Switch Beta: Government Blocks 84,000 Websites
Kurt Nimmo
Infowars.com
February 16, 2011
Under the banner of fighting child pornography, the Department of Homeland Security and the Department of Justice knocked out 84,000 websites last week. The websites did not host or link to child pornography as the government claims.
“As part of ‘Operation Save Our Children‘ ICE’s Cyber Crimes Center has again seized several domain names, but not without making a huge error. Last Friday, thousands of site owners were surprised by a rather worrying banner that was placed on their domain,” reports TorrentFreak, a tech site.
Senator Joe Lieberman peddles his kill switch legislation under the rubric of the phony war on terror.
“Advertisement, distribution, transportation, receipt, and possession of child pornography constitute federal crimes that carry penalties for first time offenders of up to 30 years in federal prison, a $250,000 fine, forfeiture and restitution,” was the message visitors to the sites were Read more…
Two Iranian Warships May Pass Through Suez Canal, Israel’s Lieberman Says
By Gwen Ackerman
Israeli Foreign Minister Avigdor Lieberman said that two Iranian gunboats are planning to sail late today to Syria through Egypt’s Suez Canal in what he called a “provocation.”
“Regretfully, the international community isn’t showing readiness to deal with the recurring Iranian provocations,” Lieberman said today in a speech to U.S. Jewish leaders in Jerusalem. “The international community must understand that Israel can’t ignore forever these kinds of provocations.”
The Israeli statement comes five days after Egyptian President Hosni Mubarak stepped down and unrest in North Africa spread to the Persian Gulf, where Bahrain and Iran have seen anti-government protests since Feb. 14. Israeli leaders have voiced concern that Iran may exploit Read more…
Hundreds of Libyans demand the government’s ouster
Hundreds of Libyans calling for the government’s ouster took to the streets Wednesday in the country’s second-largest city as Egypt-inspired unrest spread to the country long ruled by Moammar Kadafi.
Ashur Shamis, a Libyan opposition activist in London, said the protests began Tuesday in the port city of Benghazi, with demonstrators chanting, “No God but Allah, Moammar is the enemy of Allah” and “Down, down to corruption and to the corrupt.”
But police and armed government backers quickly clamped down on the protesters, firing rubber bullets, he said.
Witnesses and videos posted on the Internet showed protesters calling for a Libyan uprising and chanting slogans against Kadafi, who has held virtually unchecked power for more than four decades, as well as Read more…
World Bank: Food prices at “dangerous levels”
Global food prices have hit “dangerous levels” that could contribute to political instability, push millions of people into poverty and raise the cost of groceries, according to a new report from the World Bank.
The bank released a report Tuesday that said global food prices have jumped 29 percent in the past year, and are just 3 percent below the all-time peak hit in 2008. Bank President Robert Zoellick said the rising prices have hit people hardest in the developing world because they spend as much as half their income on food.
“Food prices are the key and major challenge facing many developing countries today,” Zoellick said. The World Bank estimates higher prices for corn, wheat and oil have pushed 44 million people into extreme poverty since Read more…



MOSCOW—Former Soviet President Mikhail Gorbachev said he is “ashamed” with the way Russia is run today and warned the Kremlin could face an Egypt-style uprising.


![[Most Recent Quotes from www.kitco.com]](https://i0.wp.com/www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)

You must be logged in to post a comment.