Looking at the banners in the massive Egyptian protests last week, we saw many anti-American slogans. Likewise, the Muslim Brotherhood-led government that was deposed by the military last week was very critical of what it saw as US support for the coup. Why is it that all sides in this Egyptian civil war seem so angry with the United States? Because the United States has at one point or another supported each side, which means also that at some point the US has also opposed each side. It is the constant meddling in Egyptian affairs that has turned Egyptians against us, as we would resent foreign intervention in our own affairs. So, successive US administrations over the decades have supported all sides in Egypt, from dictator to demonstrator to military. There is only one side that the US government has never supported: our side.
The chairman of the Suez Canal Authority is coordinating a "high alert" military response as protests escalate against President Morsi. The army and navy stepped up patrols of the 190-kilometer (118-mile) canal linking the Red and Mediterranean seas about a week ago, he said. "Closing the canal outright would be very difficult without the support of the military," Barclays notes as the army and navy steps up patrols of the 190km canal. While unrest that toppled Hosni Mubarak, Mursi’s predecessor, failed to halt traffic last year, fewer vessels passed along the canal. An average of 1,435 ships a month used the link, the lowest figure since 2005. So far, traffic is "normal and has not faced any disruptions."
The volatility of recent weeks is but a mere small taste of the volatility in store for all markets in the coming months and years. The global debt crisis is likely to continue for the rest of the decade as politicians and central bankers have merely delayed the day of reckoning. They have ensured that when the day of reckoning comes it will be even more painful and costly then it would have been previously.
Full Deposition of Angela Edwards “Robo-Verifier” as Servicer for the Plaintiff for Verification of Foreclosure ComplaintSubmitted by 4closureFraud on 06/28/2013 07:54 -0400
No matter the amount and severity of lawsuits, settlements, and bad publicity, it appears that the act of signing without proper authority or knowledge as to that which one is signing, continues.
The real question is when will the Feral Hogs fix their sights on the WTI market, and take it down to $80 like they have the last two years. My guess now that they have had their fun with the Gold and Silver markets, they will start looking around for their next target.
- Scalpel in Hand, Chinese Premier Li Stirs Reform Hopes (Reuters)
- Obama Sets Conditions for Keystone Pipeline Go-Ahead (FT)
- World’s Most Indebted Households Face Rate Pain (BBG)
- SAC Probers Weighing 'Willful Blindness' Tack (WSJ)
- Draghi Says ECB Ready to Act, Calls for Investment Over Tax (BBG)
- U.S. Tops China for Foreign Investment (WSJ)
- Basel Presses Ahead With Plans to Limit Bank Borrowing (FT)
- Gillard Ousted as Australia PM by Rival Rudd (FT)
- Japan Economic Strength Will Show in Stocks, Nishimura Says (BBG)
And What About Your Smart Meter?
Following the 'coup' that led to JPMorgan's Matt Zames running the TBAC (and implicitly the US Treasury and Fed if one were inclined to believe that is where the real smarts are), it seems Goldman Sachs has once again been out-'vampire-squid'-ed as Jacob Frenkel - Chairman of JPMorgan Chase International - is set to take back the reins of the Bank of Israel.
Meet General Keith Alexander, "a man few even in Washington would likely recognize", which is troubling because Alexander is now quite possibly the most powerful person in the world, whom nobody talks about. Which is just the way he likes it. ... And also meet Bonesaw: "Bonesaw is the ability to map, basically every device connected to the Internet and what hardware and software it is."
The Government Actually DID Spy On the Bad Guys Before 9/11
While the world awaits Russia's formal response to last week's US escalation in Syria (as Putin demonstratively arrived an hour late for talks on Syria with UK PM David Cameron) another country: Iran - fresh from an election in which moderate candidate Hassan Rohani became the new president - is taking matters into its own hands. The Independent Reports that "a military decision has been taken in Iran – even before last week’s presidential election – to send a first contingent of 4,000 Iranian Revolutionary Guards to Syria to support President Bashar al-Assad’s forces against the largely Sunni rebellion that has cost almost 100,000 lives in just over two years. Iran is now fully committed to preserving Assad’s regime, according to pro-Iranian sources which have been deeply involved in the Islamic Republic’s security, even to the extent of proposing to open up a new ‘Syrian’ front on the Golan Heights against Israel."
Currency markets are anticipating the conclusion of the BOJ meeting on Tuesday. No changes are expected to the current policy scheme and asset purchase targets, but it is likely that the committee will introduce measures to try to stem JGB volatility. Based on their recent record, it is unlikely they will succeed. Later in the week, the focal point will shift to the US where the monthly Treasury statement on Wednesday and retail sales data on Thursday will shed more light on how automatic federal spending cuts are affecting the broader economy.
Top NSA Official: Government Tapping CONTENT, Not Just Metadata … Using Bogus “Secret Interpretation” of Patriot Act
The last war America fought openly through proxy was the Vietnam War. The sad and disturbing reality is that most wars fought by our country over the course of the past century have not been fought on principle. Instead, they have been fought for profit and for the consolidation of power and oligarchy. The war in Syria will not be about Syria. It will not be about the freedom of the people. It will not be about dethroning Assad or establishing democracy. It will not be about defusing violence in the region. Syria will not be the target; we will be the target — our society, our rights, our nation. America is in the middle of the most insidious consolidation of power in history and Syria is merely a stepping stone in the game. If we cannot maintain our vigilance and allow ourselves to be sucked into the proxy war façade, the elites will get their global conflict with little to no home opposition. The globalists will win, and everyone else will lose.