Hearing of IMF interventions generally conjures up images of developing nations (and the occasional Eurozone peripheral economy of late) facing some kind of financial difficulty. But it was actually Great Britain, the cradle of the industrialized world, which in 1976 became one of the first countries ever to be "bailed out" by the IMF in the modern sense of the term.
It was heinous. It was underhanded. It was beyond the bounds of international morality. It was an attack on the American way of life. It was what you might expect from unscrupulous Arabs. It was “the oil weapon” -- and back in 1973, it was directed at the United States. Skip ahead four decades and it’s smart, it’s effective, and it’s the American way. The Obama administration has appropriated it as a major tool of foreign policy, a new way to go to war with nations it considers hostile without relying on planes, missiles, and troops. It is, of course, that very same oil weapon.
There is something seriously wrong if the Federal Reserve cannot raise the Fed Fund`s Rate a measly 100 basis points after 7 longs years of ZIRP. Seven years is an entire business and economic cycle!
"I think we're looking at kind of a 30-year war... one that will have to extend beyond Islamic State to include emerging threats in Nigeria, Somalia, Yemen, Libya and elsewhere.
large explosion took place near a suspected nuclear site in Iran has reportedly killed two people and according to the Washington Free Beacon, prompted speculation of sabotage at a military site long suspected of housing Tehran’s clandestine nuclear activities, according to Iran’s Defense Industries Organization (DIO), which operates under the country’s Ministry of Defense. The Free Beacon, citing Fars New Agency, reports that one explosion rocked a production plant late Sunday night in east Tehran, near the Parchin nuclear site. The explosion at a facility referred to as a “production plant” caused a fire that killed two workers, according to Fars, which cited information provided by Iran’s DIO. Fars first reported news of the explosion, claiming that it took place at an “explosive material factory” near Parchin. According to Iran opposition sources, the blast killed at least four military personnel.
With ever louder chatter that the west will force Russia to exit the global currency messaging and interchange service that is SWIFT - essentially locking it out of transacting in "developed" currencies - and with correspondingly louder retorts by Russia that it is prepared and would welcome such a move as it would merely force it to abandon the petrodollar and allign even closer with China, there was one entity whose take on the matter had been largely ignnored. SWIFT itself. Surprisingly, in a press release issued this morning,the member-owned cooperative, reveals that not only has it received "calls to disconnect institutions and entire countries from its network – most recently Israel and Russia", but that it regrets "the pressure" as the "surrounding media speculation, both of which risk undermining the systemic character of the services that SWIFT provides its customers around the world."
There is nothing like the release of secret tape recordings to clarify an inconclusive debate. Actually, what the tapes really show is that the Fed’s latest policy contraption - macro-prudential regulation through a financial stability committee - is just a useless exercise in CYA. Macro-pru is an impossible delusion that should not be taken seriously be sensible adults. It is not, as Janet Yellen insists, a supplementary tool to contain and remediate the unintended consequence - that is, excessive financial speculation - of the Fed’s primary drive to achieve full employment and fill the GDP bathtub to the very brim of its potential. Instead, rampant speculation, excessive leverage, phony liquidity and massive financial instability are the only real result of current Fed policy.
Who is the world’s No. 3 arms exporter, after the United States and Russia? Surprise. It is Germany, a country bound by law to supply only allies and peaceable folks like (neutral) Switzerland or Sweden. Off limits are “areas of tension” — bad neighborhoods that actually need the stuff. Yet somehow, Israel and Saudi Arabia, both living in the world’s powder keg, are among Germany’s best customers. So are Algeria, Qatar and the United Arab Emirates.
Last night's airstrikes on ISIS in Syria came as a surprise to some (though apparently not ISIS who local reporters note had time to move weapons and personnel) as President Obama - and his local arab nation allies (acting in support), though notably no Western nations - unleashed hell on Assad's sovereign territory. The first stirrings of responses from Russia have been creeping out and now Israel is involved in the anti-ISIS coalition. The State Department has just confirmed that they did not give advance warning to the Syrian regime. If you are playing along at home, key words include "broad coalition", "Assad still a bad guy", "Vladimir who?", and "not Muslim."
Whether as a result of recent icy to quite icy diplomatic relations between the two nations, or just because it has other motives, Israel had clearly abstained from joining the US effort to contain the CIA-created ISIS terrorist juggernaut. However, overnight, with the US finally doing what Israel has hoped it would do for so long, namely being engaged in a bombing campaign of Syria (recall that it was Israel which was one of the biggest supporters of a US-led military intervention in Syria in the summer of 2013), it decided "hell, why not" and joined the fray, when shortly before 3 am Eastern time, this hit:
- ISRAELI SAYS IT DOWNED SYRIAN AIRCRAFT IN ISRAELI AIRSPACE
- ISRAELI ARMY SAYS DOWNED SYRIAN AIRCRAFT WAS FIGHTER JET
Quite notable because it was the first time in three decades that Israel had downed a Syrian warplane, so Israel needed a strong pretext for such aggression. An aggression, incidentally, not against ISIS, but Assad's regime itself, which clearly is what Obama's latest operation is all about - to take down a sovereign while doing the bidding of Qatar and Saudi Arabia, just like in 2013.
European stocks, U.S. equity index futures fall after Euro area PMI for Aug. missed ests., while bond yields for German, Spanish, U.K. debt fall. Copper rises with positive Chinese PMI data, while oil gains as OPEC discusses output cut. European health care stocks among largest underperformers as U.S. plans tighter rules on tax inversion M&A.
After the end of the cold war, the United States dominated world affairs for nearly twenty years. However, the situation of a unipolar world has changed since the financial crisis of 2008 to a now multipolar world that includes China, Russia, India, Brazil and South Africa. These powers are influencing and manipulating the conflict zones we have today to their advantage. By analysing and dissecting the issues concerning the major conflict zones on our world map, as well as illustrating the parties involved, this article will explain what political and strategic interests are at play and how the development in major hotspots shape the big picture. This will identify the geopolitical forces that affect the European continent and what future concerns and worries await us.
What Iraq Thinks: "It Is Obvious To Everyone That ISIS Is A Creation Of The United States And Israel"Submitted by Tyler Durden on 09/22/2014 14:54 -0400
Ever since the stunningly rapid arrival of ISIS on the global scene, there has been speculation that this spin-off of Al-Qaeda, itself a "terrorist" organization if not created by the CIA then certainly funded by Langley courtesy of Operation Cyclone in its "freedom fighter" stage, has had the implicit or explicit backing of either the US or Israel intelligence service. Nowhere is such speculation more vocal than in the one country that has suffered the most from ISIS: Iraq, or rather what is left of the country now that it is split into southern Iraq, the Islamic State, and a Kurdish region that quietly sells crude to unknown buyers at blue light special prices. To the Iraq locals there is no mystery: “It is obvious to everyone that the Islamic State is a creation of the United States and Israel” says Omar al-Jabouri, 31, a Sunni Muslim from a predominantly Shiite neighborhood of Baghdad. His view echoes what a vast number of his peers think.
With the snoozer of an FOMC meeting in the rearview mirror, as well as Scotland's predetermined independence referndum, last week's key events: the BABA IPO and the iPhone 6 release, are now history, which means the near-term catalysts are gone and the coming week will be far more relaxed, if hardly boring. Here is what to expect.
In a move that is certain to further escalate already stretched racial tensions in America's most cosmopolitan city, some 100 New York City buses will soon carry jarring anti-Islamic posters which feature photos of an ISIS beheading victim, his alleged executioner, Adolf Hitler, declare "Yesterday's moderate [Muslim] is today's headline" and proclaim "It's not Islamophobia, it's Islamorealism" as part of an "educational campaign." According to the NY Daily News, the ads, paid for by flame-throwing blogger Pamela Geller, at a cost of $100,000, are intended as an “education campaign” to warn of the “problem with jihad” and Islamic sharia law, Geller said.