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Egypt Interior Ministry Building Burning (Again)

Tyler Durden's picture





 

It seems Egyptians are so enamored with revolting they have decided to do the whole thing all over again. And this just one month after the first peaceful revolution in MENA claimed the 30 year rule of Hosni Mubarak, and everyone thought Gaddafi would step down just as quietly and peacefully. Well, while Gaddafi appears rather set on staying, and protecting his 144 tons of gold, the Egyptians have decided to burn the place down once again.In the meantime we keep awaiting the Bank of Egypt's official updated recount of its gold stash which, admittedly, was half of Libya's.

From CNN:

The Egyptian Interior Ministry was on fire Tuesday in downtown Cairo following a protest earlier in the day.

Flames could be seen on the roof of the multi-story building, and a dark plume of smoke loomed over the city. People could be seen fleeing the building as it burned.

The ministry was the site of a peaceful protest Tuesday morning and afternoon, with thousands of ministry employees  - many of them police officers - making demands, mainly for higher wages. But protesters at the building denied setting the fire, saying it originated inside.

h/t Papa

 


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Tue, 03/22/2011 - 11:30 | Link to Comment AN0NYM0US
AN0NYM0US's picture

stray cruise missile

Tue, 03/22/2011 - 11:48 | Link to Comment Herd Redirectio...
Herd Redirection Committee's picture

It looks like a move by those inside the building to discredit the protestors...  Not exactly a new page in the playbook, there have been 'agent provocateurs' sent into every major protest for atleast the last 15 years!  They outed them in Quebec, when they noticed the troublemakers and the police were wearing the exact same type of boot!

Any way, check out the Capital Research Institute's latest "The Day The Standards Died":

http://www.capitalresearchinstitute.org

We have spent a lot of time discussing the Gold Standard and what it means to have the world reserve currency here at the Capital Research Institute. But today we want to look at something a little different, but just as crucial: the importance of accounting standards. OK, OK, I am hearing the yawns already, just bear with me! When the Financial Crisis hit in late 2008 not only did Capitalism die, when the Government decided bankrupt firms (of their choosing) should no longer be exposed to the risk of failure! The history books are going to be speechless on that one, and will simple relate: “It seemed like a good idea at the time!?!?” But what may have slipped under a lot of (non-accounting) people’s noses was that accounting standards were also effectively removed at that time. The most important of which were mark-to-market accounting rules.

Tue, 03/22/2011 - 12:28 | Link to Comment Harlequin001
Harlequin001's picture

I think you're missing the point.

If gold was in money the accounting standards wouldn't matter a hoot. I would simply store my money in a vault or safe deposit and you would either need to convince me to my satisfaction that your investment was a good idea or I simply wouldn't invest, not in your proposal or even in a bank, because I would not need to. As things stand now if I don't obtain a return on my investment then central bank inflation will destroy its paper worth.

And there's the problem. If gold was in money and I simply held onto my money the banks wouldn't be able to buy government debt, which means a sovereign default... or no aircraft carriers and free medical.

Not only does the gold standard allow me to keep my money but it requires fair rates in forex markets, so he who prints suffers inflation but to a large extent it also renders all this bullshit FDIC and FASB, FSA, CFTC SEC etc and accounting standards largely moot.

Tue, 03/22/2011 - 14:59 | Link to Comment Herd Redirectio...
Herd Redirection Committee's picture

Right now there isn't a gold standard, so accounting standards matter.  Even if there was a gold standard it should still be illegal (not *merely* frowned upon) for public companies to blatantly lie about their financial condition.

Tue, 03/22/2011 - 11:32 | Link to Comment tekhneek
tekhneek's picture

We don't need no water.

Tue, 03/22/2011 - 11:31 | Link to Comment Conrad Murray
Conrad Murray's picture

I'll just leave this here   http://bit.ly/hTVXn8

Tue, 03/22/2011 - 11:33 | Link to Comment umop episdn
umop episdn's picture

Rhetorical Q: How many people does it take to set a building on fire, thereby making peaceful protesters look like vandals?

A: The same number as it takes to fire a mortar or launch a small rocket.

False Flags evahwhare!

Tue, 03/22/2011 - 12:27 | Link to Comment cossack55
cossack55's picture

Especially in front of US Gubmint buildings.

Tue, 03/22/2011 - 11:33 | Link to Comment Sophist Economicus
Sophist Economicus's picture

Marshmellows, please....

Tue, 03/22/2011 - 11:34 | Link to Comment John McCloy
John McCloy's picture

No worries. POMO evidently is more powerful than an geopolitics, data, fraud, natural disasters and nuclear fallout. I wish I was being sarcastic but apparently it is true.We have POMO the rest of the week too right? Giddy up.

Nothing short of a Kanamit invasion will stop this maddness.

Tue, 03/22/2011 - 11:33 | Link to Comment The Deacon
The Deacon's picture

The Revolution is over!  Long live the Revolution!

Tue, 03/22/2011 - 13:21 | Link to Comment Cash_is_Trash
Cash_is_Trash's picture

Ah, you've read James Rickards piece on Perpetual QE.

For those that haven't, this is highly recommended:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/3/11_Ji...!.html

 

Tue, 03/22/2011 - 11:36 | Link to Comment Don Birnam
Don Birnam's picture

No cause for alarm. Someone accidentally tossed a lit Dunhill into a wastebasket. Responders are en route.

Tue, 03/22/2011 - 11:37 | Link to Comment gwar5
gwar5's picture

Revolution is addictive. Good times.

Tue, 03/22/2011 - 11:37 | Link to Comment robobbob
robobbob's picture

Zbig put in a personal appearance on PBS yesterday along with Scowcroft. I don't think things are going as planned. Jim Lehrer looked like he has about to drop a brick listening to Scowcroft's rebuttals to Z's big plans and warnings this MENA mess could turn out very badly.

Tue, 03/22/2011 - 12:02 | Link to Comment Oh regional Indian
Oh regional Indian's picture

Jim "Snake" Leherer is still alive and on PBS?

Yikes.

ORI

Tue, 03/22/2011 - 12:03 | Link to Comment NotApplicable
NotApplicable's picture

So, in other words, it was a total setup, being no different than Vince McMahon interviewing a pair of WWE wrestlers who don't see eye to eye.

Too bad Scowcroft didn't take down Zbignew with a folding-chair. It would've played better.

Tue, 03/22/2011 - 12:28 | Link to Comment Oh regional Indian
Oh regional Indian's picture

Ahhhahahahaa! That was some awesome imagery, especially with "No-spine" Leherer as referree!

Thanks.

ORI

Tue, 03/22/2011 - 12:44 | Link to Comment robobbob
robobbob's picture

Z just sat there like a sphinx issuing his pronouncements . It was Lehrer who was blindsided by the idea that there could be a diffence of opinion, or that all these revolutions could actually have a downside, unintended consequences, and a cost.

Tue, 03/22/2011 - 11:38 | Link to Comment Sudden Debt
Sudden Debt's picture

Just wait untill the Irish realise that their 2 year went over 10% and all morgages will pop in the comming months and you'll see this happening in Ireland to.

 

 

Tue, 03/22/2011 - 11:57 | Link to Comment gwar5
gwar5's picture

Serious? The Irish will go Cairo too.

Tue, 03/22/2011 - 12:21 | Link to Comment Harlequin001
Harlequin001's picture

Yep, they'll probably blow something up...

Tue, 03/22/2011 - 12:40 | Link to Comment centerline
centerline's picture

just keep away from the Guinness plant.

Tue, 03/22/2011 - 11:42 | Link to Comment John McCloy
John McCloy's picture

Looks like the markets decided they want to ignore 104 oil prices this week. Completely rigged. Maybe when we hit 110 the markets will go down 50 points.

Tue, 03/22/2011 - 11:46 | Link to Comment Don Birnam
Don Birnam's picture

<< Maybe when we hit 110 the markets will go down 50 points. >>

Said dip will be bought. Bank on it ( so to speak ).

+1

Tue, 03/22/2011 - 11:53 | Link to Comment John McCloy
John McCloy's picture

Dip bought and yardsticked moved to 115 oil..rinse repeat..ignore fundys. Hooray for Central Planningism.

Tue, 03/22/2011 - 11:44 | Link to Comment AldoHux_IV
AldoHux_IV's picture

Can't expect a CIA driven replacement of leadership will actually lead to a proper transition-- the people are becoming less susceptible to bullshit (hopefully).

Tue, 03/22/2011 - 14:21 | Link to Comment downwiththebanks
downwiththebanks's picture

The people have not accepted this transition from the day it was foisted upon them.  There have been non-stop strikes and an almost perpetual turnover of satraps and lackeys in an effort to stave off the REVOLUTION.

The same media who were so eager to broadcast (Mu)Barak's overthrow by a military junta just haven't had much interest or desire to continue telling the story.

Tue, 03/22/2011 - 11:45 | Link to Comment partimer1
partimer1's picture

democracy is messy, and takes long time to develop.  take a good look at US ourselves.  There is no V-shaped democracy. its U or L shaped, with a long period of time at the low. during this period, mafia, politicians, and people with guns rule the country.  if this is one country doing this, the world will go on fine. if all these little countries are doing this, its gonna be a total mess. receovery?  it's gonna be a lot worse before it gets better.

Tue, 03/22/2011 - 12:10 | Link to Comment NotApplicable
NotApplicable's picture

There is nothing 'better' about the form of mob-rule known as democracy.

Putting a gun to my head and calling it peace is no way to organize a society. Until individuals stop apathetically empowering madmen to rule over us all, violence and social decay will be ever present.

Free people, having the freedom to own their own lives, and freely trade their property with others is how a stable society forms. As this represents work, criminals instead choose to pillage via the political system of force.

Tue, 03/22/2011 - 11:52 | Link to Comment AN0NYM0US
AN0NYM0US's picture

at least it wasn't the fire dept

 

Police protesting low salaries set fire to Egypt's Interior Ministry

http://abcnews.go.com/International/wireStory?id=13193206

Tue, 03/22/2011 - 12:00 | Link to Comment alien-IQ
alien-IQ's picture

There appears to also be a protest scheduled for March 26 in London that isn't getting much attention. Given the participants...this may be rather large.

Plus they managed to put together a good video...so they got that going for them:
http://www.youtube.com/watch?v=WyOcZYCt1bw&feature=player_embedded

Tue, 03/22/2011 - 15:56 | Link to Comment SilverBaron
SilverBaron's picture

You have to wonder how that would play out.  Has there ever been a revolution in a country that has nuclear weapons?  I imagine they would have to squash that rebellion at any cost to keep nukes from falling into anonymous hands.  Either they would have the rulers pretend to step down while instituting new ones that answered to the same people, or they would massacre the rebels using any means necessary. 

Tue, 03/22/2011 - 15:58 | Link to Comment downwiththebanks
downwiththebanks's picture

They could just kill two birds with one stone and nuke the protestors.

Tue, 03/22/2011 - 12:16 | Link to Comment John Law Lives
John Law Lives's picture

The underlying cause of their anger (i.e. soaring food prices and wealth inequality) have not changed.  Egypt doesn't have tens of billions of "hush money" to dump on its citizens as the Saudis do.

Tue, 03/22/2011 - 14:23 | Link to Comment downwiththebanks
downwiththebanks's picture

The REVOLUTION's demands also include a new constitution, which the junta has no interest in granting.

This demand has remained constant for a month, despite a (Western) media blackout.

Tue, 03/22/2011 - 12:18 | Link to Comment max2205
max2205's picture

FACT: Disasters and war ect have least effect during bull markets.... BTFD! SPX over 10 wk EMA and the 4 wk ema never crossed down the 10 wk...what do I know

Tue, 03/22/2011 - 12:17 | Link to Comment Oh regional Indian
Oh regional Indian's picture

More and more downhill news, flowing from the 33rd. It's that day and that time and i can see a slope ahead that is going to take some artful skill to reach the bottom of, standing so to speak.

But minus brakes, driver or intention, does not look good from here.

Relief may be in release. Yeeeee haaaaaw! 

ORI

http://aadivaahan.wordpress.com/2011/03/22/interesting-times-sweet-validations/

Tue, 03/22/2011 - 12:25 | Link to Comment Ahmeexnal
Ahmeexnal's picture

Please, calm down. The egyptian people are happy with their newfound "democracy".

This has got to have a logical explanation.  I'm pretty sure the precursor to that fire was something as common as a camel fart.

Tue, 03/22/2011 - 12:36 | Link to Comment Saxxon
Saxxon's picture

"Police protesting low salaries set fire to Egypt's Interior Ministry."

An evocative headline.  I don't get the impression that Egypt is, ah, under anyone's control right now.  Hussein, Mubarak, Khaddafy are like scabs; you rip them off, you find a lot of pus.  What a tragic farce, to try to graft Western Democracy and Consumerism on the MENA.  All we ever really did was install strongarms to keep the oil flowing.  The shithouse is going up in flames before our eyes.

Being ensconced in the U.S., my immediate concerns are how we are going to deal with $5 gasoline. 

Tue, 03/22/2011 - 12:37 | Link to Comment Johnny Lawrence
Johnny Lawrence's picture

Bullish for construction companies who will need to rebuild the HQ. 

Rally on.

Tue, 03/22/2011 - 12:52 | Link to Comment Threeggg
Threeggg's picture

Sorry,

Wrong thread

Tue, 03/22/2011 - 13:05 | Link to Comment Stuart
Stuart's picture

"and everyone thought Gaddafi would step down just as quietly and peacefully"

Er, umm... no they didn't.   That's total bull.  

Tue, 03/22/2011 - 13:12 | Link to Comment King Dong
King Dong's picture

Stray cigarette butt  left unattended (Camel of course) , Paper trail to Gaddafi's Gold? Spent fuel rods? WTF!

Tue, 03/22/2011 - 13:14 | Link to Comment LostWages
LostWages's picture

Dictator gone....check.

Food prices still high.....check

No jobs.....check

Pissed off people....check.

Tue, 03/22/2011 - 13:19 | Link to Comment Newsboy
Newsboy's picture

Fahrenheit 451, the temperature at which incriminating documents burn.

Icing on the cake if you can discredit a pro-democracy adversary at the same time.

Tue, 03/22/2011 - 14:28 | Link to Comment downwiththebanks
downwiththebanks's picture

Indeed. However there's no reason to think the REVOLUTION is going to go quiet all the sudden when the documentation of the Police & interior department thuggishness goes up in smoke . . . especially when the signs of electro-shock on flesh remain visible.

Tue, 03/22/2011 - 13:58 | Link to Comment Dave Thomas
Dave Thomas's picture

I'm suffering from disaster fatigue. Who cares.

Notice how all the articles on ZH have less than 100 comments in them?

Wake me when a meteorite hits.

 

 

Tue, 03/22/2011 - 16:29 | Link to Comment Pool Shark
Pool Shark's picture

 

Aw Jeez, not this crap again!

 

Tue, 03/22/2011 - 18:22 | Link to Comment PulauHantu29
PulauHantu29's picture

Seems to be a Fad:

"Reuters - Heavy fighting erupted in western Ivory Coast between rebels and forces loyal to incumbent leader Laurent Gbagbo, sources along the Liberian border told Reuters on Sunday.

Gunfire could be heard by residents in Liberian border villages and wounded fighters were crossing over, seeking medical attention, the sources said."

http://www.reuters.com/article/2011/03/06/us-ivorycoast-border-idUSTRE72...

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yxhlhq's picture

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Sigma O's picture

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