Weekly Geopolitical Summary

Tyler Durden's picture

By Global Intelligence Report

Weekly Geopolitical Summary 

  • Russia Makes Major Headway with South Stream Pipeline
  • Pakistani Supply Route Blockade Puts ISAF Forces at Risk
  • US Drones Kill Five German Nationals, Amid Europe-Wide Terror Alert
  • Bosnian Elections See Moderate Gains, but Little Hope for Change
  • Nigeria Attacks May Show Dangerous Rift in MEND
  • UK Diplomats Targeted in Yemen Attack

Russia Makes Major Headway with South Stream Pipeline
Russia's South Stream pipeline plans have increased momentum, netting formal agreements in the Balkans, most recently with Bosnia's Serb-dominated entity of Republika Srpska and Macedonia. The president of Bosnia's Republika Srpska entity, Milorad Dodik, and Russian Energy Minister Sergei Shmatko signed an agreement on 15 September in Moscow formally expressing interest in the construction of a branch of the South Stream pipeline through Republika Srpska.
If a feasibility study carried out by Russia's state-owned gas giant Gazprom over the next couple of months proves positive, Republika Srpska would build a 480-kilometer branch of the South Stream pipeline through northern Bosnia, carrying up to 1.5 billion cubic meters of gas annually. Dodik told news agencies after the signing of the agreement that he expected the feasibility study to be completed and the green light given for the project within a couple of months.
Then, on 1 October, officials in Macedonia met with a Russian delegation from Gazprom to discuss the feasibility of participating in the South Stream pipeline. Macedonia is interested in joining the project, with Macedonian Finance Minister Zoran Stavrevski telling local media on 2 October that the country's involvement would lead to long-term gas supply stability that is of "crucial importance for the country's economic development ... and foreign investment."
Gazprom Project Director Leonid Chungov said that the Russian state-owned gas giant was now considering the feasibility of Macedonia's involvement in the pipeline, telling reporters that "we have come to a joint conclusion that, due to rising gas demand, we need to consider the option of a gas pipeline transiting Macedonia." Slovenia signed on to the project in November 2009, and Croatia signed on in March 2010.
Analytical Note: 
Macedonia's involvement in the South Stream gas pipeline is still unclear. Gazprom officials say that it will take at least a year to determine the feasibility and type of role Macedonia could play. At the same time, the Macedonian finance minister told reporters that constructing a branch of the pipeline through the country might not be an option as it would necessarily automatically involve neighboring countries Albania and Kosovo.
Unlike its main competitor, the Nabucco pipeline - a Western endeavor seeking to transport Middle Eastern, Central Asia, and Caucasian gas to Europe, bypassing Russia - Russia's South Stream pipeline has met with fewer political and logistical obstacles. The South Stream pipeline, which should be operational by 2015, will transport Russian gas to the Black Sea and then on to Europe.
Serbia, Bulgaria, Hungary, and Greece are all formal participants, while Croatia, Slovenia and Bosnia having formally expressed interest pending further discussions and feasibility studies. The race to complete both pipelines will largely determine the balance of power in the Balkans and the wider region.
While Nabucco has the support of Turkey, Bulgaria, Romania, Hungary, and Austria, the South Stream has the support of Italy, Serbia, Macedonia, Slovenia and Greece. Presently, Russia's South Stream pipeline plans are more concrete, though in recent months, Nabucco has made some progress.
That said, the back-and-forth between Turkey and the European Union over the former's membership in the bloc could set more obstacles in the way of the pipeline's progress. The South Stream pipeline has not been plagued with such disagreements. Serbia stands to become a key regional hub in the South Stream energy setup. Republika Srpska's participation in the South Stream pipeline became inevitable in 2009 when Serbia's state-run Srbijagas acquired a 40% share in Republika Srpska's Gaspromet.
Once the South Stream pipeline is fully operational, Serbia will, as such, control much of Bosnia's natural gas supplies. In Bosnia, Federation entity gas authorities have criticized the Republika Srpska plan to join the South Stream pipeline as being politically motivated and financially unsound because there is not a large enough consumer base to support the project.
Now, delivery of Federation gas comes only from Serbia, but plans are underway for a pipeline connection to Croatia, according to Federation authorities. According to the director of BH-Gas - the Federation's gas distributor - Almir Becarevic, European institutions marked the feasibility study for the construction of a 250-kilometer pipeline connecting the Federation with Croatia as the most profitable, and a large share of the financing for that project has already been arranged with the European Bank for Reconstruction and Development (EBRD).   
By Jen Alic for the Global Intelligence Report.  www.GlobalintelligenceReport.com
Pakistani Supply Route Blockade Puts ISAF Forces at Risk
Last week, in apparent retaliation for NATO's cross-border air strikes on Pakistani territory, which were conducted without advance discussions with Pakistani officials, Islamabad imposed a blockade on NATO's Afghan supply route. On 5 October, a NATO container truck was damaged by a small blast near the border after a bomb was placed underneath the truck, which was waiting in a convoy of thousands of tankers and trucks stuck on the border. On 6 October, insurgents burned 22 tankers carrying fuel for NATO's forces in Afghanistan, killing one truck driver on the outskirts of Pakistan's southwestern city of Quetta. In the past week, Taliban forces have taken advantage of the blockade, destroying over 40 NATO supply trucks. The Taliban have vowed more attacks on the NATO supply route if Islamabad continues to allow NATO supplies through. NATO and Pakistani officials met in Brussels on 4 October, but no agreement was reached. On 6 October, NATO officials said Pakistan may soon re-open the supply route, following the release of the Alliance's investigation into the 30 September helicopter strikes on Pakistani territory (three Pakistani soldiers were killed in the strikes).
Analytical Note: Some 40% of NATO's supplies for the war in Afghanistan come through Chaman in southwest Balochistan province and through Torkham in northwest Khyber Pakhtunkhwa province. Islamabad's blockade of NATO's Afghan supply route is largely a reflection of the tenuous position of the government and President Asif Ali Zardari, who is under pressure over his failure to adequately deal with the massive floods in the face of a strong military that is pushing for his removal. Blocking the Afghan supply route should score him some points among the public, which is outraged over what it views as US incursions on its territory and the violation of its sovereignty. Lifting the blockade will require a strongly worded public apology from Washington, and guarantees that future air strikes will not be conducted without communications from Pakistani security forces. What will not ease the situation is a report released by Washington on 6 October criticizing Pakistan's efforts to fight militants on its territory. The White House report strongly criticizes President Zardari, and could result in Congress cutting support for billions in aid to Pakistan. This report will make it difficult for Zardari to save public face and re-open the Afghan supply route.
US Drones Kill Five German Nationals, Amid Europe-Wide Terror Alert

Five to eight German nationals were killed on 5 October in a CIA drone strike in Pakistan's tribal region bordering Afghanistan. The strikes were apparently part of a stepped-up CIA campaign said to be targeting credible threats of attacks on Europe by al-Qaeda. The strikes coincide with the US issuance of a Europe-wide terror alert said to be linked to intelligence that came from an Afghan-born German militant. The German nationals killed were reportedly of Arab and Pakistani origin. Washington reportedly has given Germany precise information on potential terrorist targets, including the central railway station and the television tower, as well as the Brandenburg Gate. While Washington is flooding the press with serious terror alerts for Europe, European officials are more sober.
Analytical Note: The drone attacks spiked in September, mostly in Pakistan's tribal North Waziristan, and have continued their momentum since. Pakistani officials refute Washington's claims of the numbers of 'foreign' fighters operating in the region. The timing of the US terror alert could be suspect: terror attack fears could boost the case for increased defense budgets. But it could also be a move designed to force Pakistan to take swifter action against militants in its own backyard. Europe should take the warnings seriously, but reactions should be sober and with precedents in mind.
Bosnian Elections See Moderate Gains, but Little Hope for Change

More than 8,000 candidates from 39 political parties and 11 coalitions competed for seats in Bosnia-Herzegovina's central parliament and tripartite presidency during 3 October elections. The Bosnian Croat and Bosniak seats look set to go to supporters of a unified Bosnia, while the Bosnian Serb representative is vowing more strength for entities - a situation that has created deadlock in the work of the presidency over the past four years. The moderate Social Democrat Party's (SDP) Zeljko Komsic won the presidency's Croat seat, beating ethno-nationalist Croat Democratic Union (HDZ) candidate Borjana Kristo. The Bosniak front-runner was Bakir Izetbegovic, of the predominantly ethno-nationalist Bosniak Party for Democratic Action (SDA). Komsic's victory was disputed by Croat nationalists who said he earned it thanks to Bosniak, not Croat voters, and vowed to press for an early election in two years. In the lead for Bosnian Serb post was the incumbent Nebojsa Radmanovic, of the Alliance of Independent Social Democrats (SNSD), the party which during the election campaign raised the possibility of seceding from the country. While Komsic and Radmanovic hold on to their presidential seats, Izetbegovic will replace Haris Silajdzic, who came in third, and whose Party for Bosnia and Herzegovina (SBiH), burdened with several corruption affairs, failed in the 3 October poll. Even though Izetbegovic is seen as more moderate than Silajdzic, it is hard to expect any major progress. Preliminary results for the central parliament are showing that the only change from the last elections in 2006 will happen in the areas where Bosniaks are the majority, gaining mostly at the expense of Bosniak ethno-nationalist parties. Most of the SBiH and SDA votes were taken by the newly founded Party for Better Future (SBB), led by media mogul Fahrudin Radoncic, who came up as the main surprise of the elections. With some 70% of votes counted, SDP is slightly ahead of SDA. But in the areas where Bosnian Serbs and Bosnian Croats are the majority, the elections were swept by Republika Srpska President Milorad Dodik's SNSD and HDZ. SNSD's leader Milorad Dodik, who is leading in the presidential elections in Republika Srpska, and whose party won most of the Bosnian Serb votes on all levels.
Analytical Note: According to the results, the deep ethnic divisions will be maintained and offer no solution to the ongoing political stalemate. There is also little hope that the election results will introduce new leaders that could launch badly needed political reforms set by the EU. Most of the same political personalities and parties were voted into power. Aside from an increase of votes for the moderate party among the Bosniak voters, ethno-nationalists remain popular in the Bosnian Serb-dominated Republika Srpska entity and areas dominated by Bosnian Croats. Given the differences among the sides, it is hard to expect any progressive cooperation on the state level. The results of the elections could actually further entrench ethnic divisions as many candidates have put ethno-nationalist slogans at the heart of their electoral campaigns, which voters recognized and supported. Even though Bosniak voters recognized the need for change and voted for the SDP, which doubled its performance compared with the 2006 elections, overall, this is not as significant as it may appear, since the party will have to ally with other parties, which very well may not share their moderate views.
Nigeria Attacks May Show Dangerous Rift in MEND
Two suspects have been named in car bombings that killed more than a dozen people in the Nigerian capital of Abuja on 1 October on the occasion of the country's 50th independence anniversary. The suspects are said to be Nigerian, though President Goodluck Jonathan had earlier suggested that the group behind the attack was from outside the country. Also earlier, the Movement for the Emancipation of the Niger Delta (MEND) had allegedly claimed responsibility for the attack. Hours before the attack, MEND allegedly dispatched emails to various media houses, threatening that they would bomb the anniversary venue. MEND spokesman Jomo Gbomo had claimed that several explosive devices had been "successfully planted" in and around the venue, warning guests to leave the area by 10:30 a.m. The warning, which some newspapers published online, was not heeded by security forces. MEND leader Henry Okah was arrested in Johannesburg on 4 October. Okah told reporters that his group was not responsible for the attack.
Analytical Note: The original alleged statement from MEND claiming responsibility for the attack signifies possible internal complications. Okah has denied responsibility and even condemned the attacks. Last year, the group signed a ceasefire agreement with the government. That deal also called for amnesty and cash settlements for former fighters who turned in their weapons. This has apparently caused an internal rift within MEND, splitting it into factions. As such, the statement of responsibility could have come from one faction of MEND. MEND seeks to redistribute the massive oil wealth of the Niger Delta and ensure that the local population reaps some of the benefits from their natural resources. If MEND, or a faction of the group, was indeed behind the attacks in Abuja, it would be the first time the capital was targeted in such a way by the group and would signify major changes within the original group's repertoire. 
UK Diplomats Targeted in Yemen Attack
On 6 October, the British deputy ambassador and four other embassy personnel were targeted in a rocket-propelled grenade attack in the capital Sana'a. One of the embassy personnel was slightly injured from shrapnel as were two civilian bystanders. Al-Qaida is being blamed for the attack. It was the second attack on British diplomats in Yemen this year. In April, militants targeted British Ambassador Tim Torlot in a suicide bombing that injured three bystanders. British forces have a fairly high profile in Yemen, playing a key role in economic and political development. Ambassador Torlot, targeted in April's assassination attempt, is due to be replaced in the coming weeks by Jon Wilks. Wednesday's attack came after Yemeni authorities boosted security around embassies in the capital city based on intelligence that al-Qaeda in the Arabian Peninsula (AQAP) was planning new attacks. The group on 25 December 2009 is believed to have been behind the Nigerian 'underpants bomber', who attempted to blow up a commercial airplane en route from Chicago to Amsterdam.
Analytical Note: According to Dr Dominic Moran, an expert with The Global Intelligence Report and ISAIntel, al-Qaeda in the Arabian Peninsula has become emboldened of late, with its Yemen-based claiming responsibility for the April assassination attempt against the British ambassador, the December 2009 commercial jet bombing attempt. Wednesday's attack is most probably a continuation of al-Qaeda attacks on foreign legations and representatives, which picked up pace over the last couple of years, following the collapse of alleged al-Qaeda understandings with the government after US pressure on Sana'a to step up the fight against the group. The group has also been emboldened by the arrival of al-Qaeda fighters from neighboring Saudi Arabia, following a major crack down there. In the past, the government of Yemen has used al-Qaeda to help fight Houthi rebels - al-Qaeda's sectarian rivals - in the south. Since late 2009, however, the government, under US pressure, has allegedly severed those links and begun targeting al-Qaeda. But the situation is a complex one, and the government's relationship with al-Qaeda was an important tool in the al-Houthi rebellion. As such, it is impossible to confirm with any real accuracy whether the government has indeed severed ties with al-Qaeda, or whether its new security sweeps have simply netted low-profile al-Qaeda figures in an attempt to ease US pressure. The increased number of attacks, likely by al-Qaeda forces, however, could signal that the government has indeed been working to sever those ties, which in turns means that more attacks can be expected in the near future.  
Analysis by Global Intelligence Report staff
The global Intelligence Report is a Private news & Intelligence service for sophisticated news consumers, investors and energy market participants. Our breaking stories are often ahead of the mainstream media and our reports do a lot more than just deliver the news. To find out more please visit: www.GlobalintelligenceReport.com

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Lonewar's picture

Hey everyone,

Anytime you are having a conversation with someone and the conversation turns to money or finance, please ask them this question,


"Why does a private bank control the printing of the U.S. Dollar?"


That is all that I would request of you.

Horatio Beanblower's picture

"Why does a private bank control the printing of the U.S. Dollar?" - because the United States of America, just like the United Kingdom of Great Britain and Northern Ireland, is a wholly owned subsidiary of the Rothschild family?

EscapeKey's picture

Nah, that's no longer the case with the BoE, which was nationalized in 1946.



Shylockracy's picture


It was nationalized alright, except that it has a private limited company whose clients and operations are protected from public scrutiny as a state secret. True to their shylockratic traditions, no one -specially not Parliament- has the power, legal or otherwise, to inquire on their operations.

But you never know, you may want to give them a call and ask about their shareholders, assets and operations.

Bank Of England Nominees Ltd

19 Old Jewry
Liverpool Street

Phone number: 020 7601 4915.
Here's a key quote from your Wikipedia article:

-"In 1977, the Bank set up a wholly owned subsidiary called Bank of England Nominees Limited, (BOEN), a private limited company, with 2 of its 100 £1 shares issued. According to its Memorandum & Articles of Association, its objectives are:- “To act as Nominee or agent or attorney either solely or jointly with others, for any person or persons, partnership, company, corporation, government, state, organisation, sovereign, province, authority, or public body, or any group or association of them….” Bank of England Nominees Limited was granted an exemption by Edmund Dell, Secretary of State for Trade, from the disclosure requirements under Section 27(9) of the Companies Act 1976 , because, “it was considered undesirable that the disclosure requirements should apply to certain categories of shareholders.” The Bank of England is also protected by its Royal Charter status, and the Official Secrets Act."

Horatio Beanblower's picture

Don't believe everything you read, EscapeKey.  Shylockracy has 'hit the nail on the head' with his reply.


"Give me control of a nation's money and I care not who makes her laws." - Mayer Amschel Rothschild.

Bluntly Put's picture

Because somewhere, somehow the majority of people began favoring eating a hamburger today with the promise of paying for it tomorrow. Banks knew how to do give you the credit to eat that hamburger today and defer payment till tomorrow with money they didn't really have but yet they collected the interest.

Government wasn't suited to providing the credit since governments only know to consume they eat more hamburgers today than anyone else and promise to pay with the citizens taxes tomorrow. By gaming the government's appetite they legitimized their credit into what was commonly referred to as money although it was really all part of the promises to pay tomorrow.

The problems begin when so many hamburgers have been eaten today that it becomes apparent there aren't enough cows to slaughter for tomorrows eating of hamburgers with promises to pay the day following. And so on.

cbxer55's picture

I junked ya. Your putting this same exact message, word-for-word, on every thread on the board.


The essence of JUNK.

Lonewar's picture

Yes cbxer55 I did.

People on this board are always complaining that the common person does not know about the Fed. So, we need to make it a topic of conversation. This simple statement is both a question and imparting of information at the same time.

The question is is why do we allow a private bank to control the money supply of a sovereign nation?

The statement is is that we are allowing the private banking industry control this money supply, when they have proven, time and again, that they can not be trusted.

ASK people this question, get them thinking. Hit them subconciously as CD would say. Start waking them up. Its the biggest target we have if we are to ever have an honest system again.

cbxer55's picture

If you ask most people this question, it will not get them thinking. Most people, IMHO, frankly do not give a fuck who pulls the strings. I'm not one of them, but I am also not going to ask that question to a single person whom I consider a friend. If I did, they would all think I fried a circuit somewhere, and turn around and run away from me as fast as their feet would carry them.

That question is not a conversation starter, the result will just be a blank cross-eyed stare.

Lonewar's picture

Which is why I asked that you only ask it during a monetary or financial conversation.

I know that most people will not understand the implications of the question. I know that a few people, if they realised things would not care, and I know that there are some very rich people that never want this question asked, because the do not like the outcome.

I want this question to be on everyone's lips,

Why do we allow a private bank to control the printing of the U.S. Dollar?

If we are going to slip the leash of the banking cartel, now is one of the best times in the last 97 years to do so. People DON'T TRUST banks anymore. They have seen the greed and the stupidity (Of going to fast). In the first time in forever, people trust their congress whore more than their banker. That is the most important piece to this, and that is why this question needs to be asked now. We have a small window to throw off this tyranny, but if we don't try, if the chains don't chafe, then why be here?

cbxer55's picture

Well Good Luck to ya, your going to need it.

Theres entirely too many sheeple in this world, most of whom will never care one way or another, unless it interferes with their daily 8 hours of Boob-Tube watching enjoyment. This is not the 1770s, and I find it highly unlikely that you will ever be able to get enough folks to rebel against the system.

Myself, even though I find it detestable how things are run, cannot find another example anywhere in the world where it is better. Thus I will not join your crusade.

Best of luck to ya.

Conrad Murray's picture

Good to see you're helping turn around the "detestable" system.  Won't be long til our hope for change is fulfilled if we can get more winners like you on the team.

cbxer55's picture

I work for the government, as a Sheet Metal Mechanic at Tinker Air Force Base. One of the things I had to sign prior to being hired was a statement that I would not default on my bills (therefore no skipping payments on anything), and that I would do nothing against the government (therefore no protesting or anything else). If I were to do any of the things this guy talks about, I would lose my job. Things are going good right now, have no desire to lose the job due to acting like an idiot.

So I'll leave it to you all to do what you think you must, I'll sit back and watch with a good cigar and a glass of some adult beverage.

Note: Sheet Metal Mechanic is not a "six-figure" job. not even $50,000 a year, unless I work a lot of overtime. So I'm not holding down a desk making six figures, I'm working my fingers to the bone maintaining military aircraft. Its what I have done all my life, what I am good at, and what I actually enjoy doing. I could easily transfer to a six-figure desk job, but have no desire to do that type of work.

blunderdog's picture

Getting bored with the spam, Lonewar, but for the sake of mentioning, the answer I've heard a few times already is, "Whaddaya gonna trust CONGRESS to do it?!?"

So there's that.

StychoKiller's picture

Most of the problem is the notion that control of the money supply has to be centralized!  What Congress should be doing is auditing the various States' Gold and Silver coinage for purity -- no gold-plated tungsten!  It would be 50 times MORE difficult to defraud the citizenry if there were 50 (or more) sources of legitimate money in the USA.

zaknick's picture

Good work, pal! Keep it up. The ostrich who junked you will feel the effects of their ignorance in the flesh soon enough!




Fuck the bankster scum.

bugs_'s picture

Enjoyed the notes, thanks.

Nice to see news and commentary clearly seperated.

Steak's picture

This is a fan-freaking-tastic review of stuff gone on in the past week in the world.  I'm not sure if its new but I hope to catch it again next week.

last posting of tunes till next week (i sent out word to friends to tell me cool artists and got material for another playlist in the back pocket)



let it flow (a playlist of rap instrumentals):


i-dog's picture

"US Drones Kill Five German Nationals, Amid Europe-Wide Terror Alert"

The Germans can't say they weren't warned!

Black Forest's picture

"US Drones Kill Five German Nationals, Amid Europe-Wide Terror Alert"
> The Germans can't say they weren't warned!

I am German and glad to got rid of that crap. Thank you very much, America.

P.S.: Here a photo of one of those so-called "German Nationals", Shahab D:




i-dog's picture

Oh, I see. He does look somewhat Bavarian, though. ;)

desgust's picture

Xenophobical asshole? Grandpa's tradition?

zaknick's picture

That is the one thing politicians and fascist understand about people: racism is the key to divide and conquer strategies against the peasants.

Kali's picture

Yes, I kinda wowed on that one.  WTF?

dimichzh's picture

Or maybe it was the other way around, first they killed 7 Germans, then they need to give some explanation why and issue a warning. If you look at google trends, this happened at the same time.

It is the same game happened last December. First US bombs Yemen provinces, then when it becomes public, they make some Yemeni man go crazy and pop some crackers in the plane. And don't tell me that he did it by himself. Look at evidence presented by passengers of the flight. 



Update: After more thinking I realized my mistake. It's another way around - maybe Europe calmed down on terrorists threat and things got moving opposite of "war on terror" or next step in the world "chess game"; it needs to be stimulated, so here we go - alert is released, then as a proof that "you see, we were right!" - German nationals got killed and of course they were terrorists. So be scary of terrorists next door. Let's not forget to keep public on the next target - Iran - who was killed? Ahh right, German-Iranian. You see! Iran is evil, so we will eventually deal with this evil country.

I think, people are being played again. Why so few can see the pattern?

michigan independant's picture

Thank You for the information most will never see or interpolate into reality of there exsistance.


Here are ten facts of American national politics that you must understand to get meaningful change.


1. You can't beat something with nothing.
2. 80% of politicians respond only to two things: (1) fear; (2) pain.
3. Bureaucrats (tenured) respond only to one thing: budget cuts.
4. Political reform never comes as long as the tax money flows in.
5. The #1 goal is to reduce the government's funds, not re-direct them.
6. Congress's club system sucks in 80% of new members by term #2.
7. Politicians listen to their peers, not to their constituents.
8. Money from the government buys off most voters.
9. Most citizens care little about politics and know less.
10. This gives influence to organized swing-vote blocs.


The gatekeeper has one Job only.


Gloomy's picture
By MARTIN CRUTSINGER, AP Economics Writer Martin Crutsinger, Ap Economics Writer – 5 mins ago

WASHINGTON – Global finance leaders failed Saturday to resolve deep differences that threaten the outbreak of a full-blown currency war.

Various nations are seeking to devalue their currencies as a way to boost exports and jobs during hard economic times. The concern is that such efforts could trigger a repeat of the trade wars that contributed to the Great Depression of the 1930s as country after country raises protectionist barriers to imported goods.

Dapper Dan's picture

A smart person TODAY, --- Might invest his money in items,

That people would be desperate for, --- If TOMORROW,

Turned out to be NOTHING LIKE, --- The way things are NOW ...

Pay attention to history, --- & BELIEVE the signs you're seeing

I jacked this comment from a guy named Benjamin from the yahoo site.

overmedicatedundersexed's picture

Gloomy, protectionist barriers are cast as evil by the elites running the mega corporations and the likes of members of the CFR..all our recent USA presidents ..if you think they are for the common working person here in USA or anywhere in the world you have missed the

boat, no you never knew there was a boat.

The decimation of the USA economy is a direct result of the accepted theory that protectionism is evil itself...

70% of USA economy is retail consumption of goods that could be produced here..jobs that could be had here..as for prices it is relative to income..stop income (export jobs) and price becomes moot.

Sokhmate's picture

I venture PS CS5 with content-aware was used in this image.

Chandos's picture

Regarding MEND: I have been harping about this for a couple of years with a few close friends and a girlfriend who is less than receptive: for the first time in human history, we are face to face with multiple, inextricable situations: peak ressources - peak oil first and foremost - ; peak debt and the limits of bubble economies; climate change and the whole ecological predicament; demography & geopolitics; water scarcity, etc...the exhaustive list is damning. It is also the first time in human history that our species as had such an obvious Achille's heel: the dependance of everything on access to cheap oil...There is only one solution to the demise of "Homo plunderens" - plundering man - and that is to bring about sooner than later the coming of peak oil...

MEND needs to go international, not with the avowed goal of redistributing the riches of Big Oil, but with one much more ambitious: the end of this death-based civilization.


overmedicatedundersexed's picture

Chandos, please stop a moment and take a breath..there is no climate problem that is man made other than your farts in bed. sorry if I offend..the solution to energy shortage is obvious - coal, nuke,methane..the block is the constipated thinking of those who espouse the green movement insanity.

The control of elites to limit access to the planet's resources is what you should stand against.

Today you stand hand in hand with those elites in the continued brutal suppression of the poor and the soon to be made poor..

Control of private property and economic enterprise is the tools used to keep the elite in power. There are no Angels to run governments

that have the control you would give them.

HarryWanger's picture

You forgot: IMF pledges to keep currency debate in check.

That should be good for another 2% on SPX.

Atomizer's picture

Sorry Harry Wanker, your just another delusional peasant who cannot get out of a paper bag after given matches and box cutter.

EscapeKey's picture

"IMF pledges to keep currency debate in check." = "we failed to come to an agreement, hence we now issue press releases full of intentions and other meaningless statements".


EscapeKey's picture

Two things out of the UK this weekend:

Osborne Says He'd Approve a Bank of England Request for Monetary Stimulus


Osborne to spread cuts over four years because of fears they could jeopardise economy


Now, if Orborne of the Tories is a) approving QE2, and b) openly talking about phasing in austerity cuts, doesn't this tell you that the Tories, behind closed doors, can see what's coming next and are running absolutely shit scared?

This will not have a happy ending. I see shops closing down all over my part of the UK (Surrey, one of the wealthiest regions). I see half-empty electronic superstores (PC World, Comet, Currys, ...) on Saturdays during prime time, and I see staff cuts in these same stores.

steveo's picture

The middle chart is GLD/SLV. You can see this is an excellent indicator, when this ratio is at a bottom, the market usually tanks, within 3 to 5 days, but sometimes immediately. The trick is figuring out when the bottom is. 
This top chart is SPY/VIX I plotted it just to see if any interesting effects came up....none really 
The Bottom chart is SPX, the S&P 500, follow each purple line from the GLD/SLV bottoms. Amazing methinks. The two highlighted candle patterns are similar, the first one started the Head of the infamous 2009 Head and Shoulders Bear trap. The second one is NOW. 
And finally, a boatload of other charts for your free consumption. 
Like this stuff? Sign up as a follower and then follow on your Google reader. 

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