Archive - Mar 4, 2011 - Story

It seems the ridiculous Chavez intervention meme is now dead and buried, and WTI is promptly back over $102 following a statement from the head of Libya's rebel National Libyan Council opposing the rule of Muammar Gaddafi who on Friday vowed: "Victory or death."  "We are people who fight, we don't surrender. Victory or death. We will not stop till we liberate all this country ... The time of hypocrisy is over," ex-justice minister Mustafa Abdel Jalil told cheering crowds in Al Badiya. "Libya is free and Gaddafi must go", the crowds chanted. Elsewhere in Tripoli, residents expected protests after opponents of Libyan leader Muammar Gaddafi prepared to march in the capital after prayers on Friday and they were expecting government forces to respond with a violent crackdown. "We do not have any weapons. We will go to the mosque and then say Gaddafi should leave," said Mohammed, a resident in the Tripoli district of Tajoura where clashes took place last week. "They (pro-Gaddafi militias) will attack." That is likely, which also means that the US, courtesy of a rapidly approaching aircraft carrier, will proceed with previously cleared military evacuations, anticipating a provocation of their own, which would then be used a pretext for an all out invasion. "Several residents of Tripoli have said they are planning to protest against Gaddafi when they leave their mosques after Friday prayers, at about 1300 GMT." Which is 8 am Eastern, meaning that the newsflow of an escalation in crackdown and death will begin some time after the NFP announcement.

RANsquawk European Morning Briefing - Stocks, Bonds, FX etc. – 04/03/11