With Egypt On The Verge Of A Military Coup And Martial Law, Art Cashin Issues A Warning

Tyler Durden's picture




 

This just out:

  • EGYPT STATE TV SAYS PARLIAMENT NO LONGER LIGITIMATE
  • EGYPT STATE TV CITES CONSTITUTIONAL COURT ON PARLIAMENT

And more from Reuters:

A constitutional court ruling on Thursday means that the whole of the lower house of Egypt's parliament will be dissolved and a new election will have to be held, the court's head Farouk Soltan told Reuters by telephone after the ruling was issued.

 

"The ruling regarding parliament includes the dissolution of the lower house of parliament in its entirety because the law upon which the elections were held is contrary to rules of the constitution," he said, speaking two days before another election to pick a new president.

 

Soltan said the ruling was binding on all institutions of state, adding that it would be up to the executive to call for the new election that he said would take place.

In other words, the military is once again preparing to take over. A big hint came yesterday via AP:

Egypt's Justice Ministry on Wednesday gave the country's military police and intelligence agents the right to arrest civilians over wide range of suspected crimes, including "resisting authorities," sparking charges that the country's military rulers want to extend their grip on power even after handing over to civilians.

 

The decision comes during heightened tensions in Egypt, three days before a highly polarized presidential runoff election and a day before rulings by the country's highest court that could dissolve the Islamist-dominated parliament and even cancel the Saturday-Sunday presidential vote.

 

The decision, published in the official gazette, would remain in effect until a new constitution is in place. The process of writing a constitution has hit snags. On Tuesday the Islamist-dominated parliament voted on an assembly to draft the document, but liberals boycotted the session. An earlier attempt to name the body collapsed because of opposition from liberals. Both times they charged that Islamists were unfairly dominating the procedure.

...

Military analysts said the military arrest powers were a temporary measure intended to fill a security vacuum resulting from last year's uprising, when the police force collapsed and disappeared from the streets during the first days of the mass protests.

 

"The police force has not recovered completely, and security is not back," said Sayyed Hashim, a former military prosecutor, in a TV interview.

 

Rights activists warned the new decision creates a reproduction of notorious emergency laws that expired recently and said that it also could extend the rule of the generals, even if they transfer power to civilians on time by the end of the month.

 

"This is a declaration of martial law, as if we are living in banana republic," said Gamal Eid, a prominent rights lawyer.

So things are going from bad to worse? Yep. As Art Cashin has been warning for quite a while, here is his latest assessment:

Weekend Elections - Everyone is talking about Sunday’s Greek elections but there are also key elections in France and Egypt.

 

The Greek election has been made somewhat less important by the “still under construction” Spanish bailout. The lack of a clear quid pro quo up front for Spain opens the door to renegotiations for all the other European bailouts.

 

Whichever party wins in Greece will have latitude to negotiate a less onerous deal. That would also make a coalition government easier - “we were all part of easing the peoples burden.”

 

The French elections may make Europe less functional. They will likely strengthen Hollande’s hand in reversing the Sarkozy “reforms”. He has already rolled back the retirement age to 60 from 62. The Germans are not happy.

 

The most important election this weekend may have nothing to do with the Eurozone - at least directly. The election in Egypt may change the face of the Middle East. The implications to Israel, Iran and Saudi Arabia are enormous. Will the most populous Arab nation become a theocracy? This will be some weekend.

And as Egypt falls to the counter-revolution, this time military, 2012 is once again nothing more than a repeat of 2011.

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Thu, 06/14/2012 - 10:26 | 2525491 Rubicon
Rubicon's picture

Bullish Egyptian antiquites!

Thu, 06/14/2012 - 10:28 | 2525498 Colombian Gringo
Colombian Gringo's picture

Bullish kidnapping insurance for tourists.

Thu, 06/14/2012 - 10:31 | 2525521 GetZeeGold
GetZeeGold's picture

 

 

Art Cashin Issues A Warning

 

Not being critical....but he could have said something yesterday.....just saying.

 

Thu, 06/14/2012 - 11:01 | 2525649 unununium
unununium's picture

Yesterday he was saying he hoped Jamie Dimon and the committee stuck to discussion of the hedges.

Thu, 06/14/2012 - 11:02 | 2525660 battle axe
battle axe's picture

Just watch, we will get dragged into this quagmire also.....

Thu, 06/14/2012 - 13:11 | 2526243 V in PA
V in PA's picture

Dragged!?! America is never 'dragged' into a quagmire. It almost always is the reason one exists. Lots of money to be made encouraging civil/regional wars.

Thu, 06/14/2012 - 10:27 | 2525494 H. Perowne
H. Perowne's picture

Coming soon to a state near you!

Thu, 06/14/2012 - 10:31 | 2525523 duo
duo's picture

If Egypt had oil the US would certainly be helping them find democracy.

Thu, 06/14/2012 - 10:42 | 2525572 GMadScientist
GMadScientist's picture

They have the Suez, isn't that enough?

Thu, 06/14/2012 - 11:20 | 2525782 Think for yourself
Think for yourself's picture

Very observant, good sir. It was enough for Panama, after all.

Thu, 06/14/2012 - 11:54 | 2525916 ElvisDog
ElvisDog's picture

The U.S. powers that be don't give a shit about the Suez Canal. How much trade to and from the U.S. goes through it? My guess is "not a lot". Most of our oil comes from North/South America and West Africa these days if I remember correctly. The Suez Canal would be a Euro concern. Now the reason why Egypt will be a U.S. concern is because it is an Israeli concern, and the one usually goes with the other.

Thu, 06/14/2012 - 13:16 | 2526260 V in PA
V in PA's picture

The US powers that be are the oil companies and big banks. They don't care about how much tade comes in/out of US. They care about trade.

Thu, 06/14/2012 - 13:17 | 2526264 Joseph Jones
Joseph Jones's picture

Yes to your last sentence above.  Israeli (notice, not Israelite) concern = USA concern, because the USA is a Jewish satellite state. 

The First Amendment states that "Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof."

The above being the case, obviously the USA Consititution also prohibits the USA from instituting or overseeing the institution of a foreign state that flies in the face of the 1st Amendment.  The modern state of "Israel" (not a fulfillment of the O.T., see Revelation 2:9 and 3:9 where John properly labels Israel "...the Synagogue of Satan...") is indeed (they proudly scream this from the mountaintops) a "Jewish" religious state.

The US Constitution also would prohibit the USA from having an "unbreakable" bond with a purely religious state.  G. Washington also warns us against any such relationship in his "Farewell Address".  Yet per Rabbi Obama (he said it again yesterday) and Rabbinette Hilary Clinton, we have an "unbreakable" bond with Israel.

Don't hold your breath for an announced "unbreakable" bond with a Muslim theocracy!  But Rabbinical Talmudism, all day every day, regardless what Party rules. 

Thu, 06/14/2012 - 18:37 | 2527452 liverdiefree
liverdiefree's picture

I'm morbidly curious, Mr. Jones: what holds your ears apart?

Thu, 06/14/2012 - 21:45 | 2527953 Joseph Jones
Joseph Jones's picture

Does your mom have any kids that lived? 

I wait patiently for an argument addressing my points.  Should I just expect the anti semite charge instead?  I suppose we should rely on a Rabbi's advice concerning foreign relations than Pres. George Washington?

Every negative truth about Judaism and Rabbinical Talmudism usually meets the anti-semite tirade?  I wait patiently for the tirade. 

Judaics and their sycophants may rather enjoy this: Rabbis have legal right and legal protection in Jerasalum-west (AKA NYC) to falate babies during bris, transfer herpes, and kill said babies.

http://www.google.com/search?q=rabbi+bris+herpes&ie=utf-8&oe=utf-8&aq=t&...

Love them ever-lovin' Rabbis, no? 

 

Thu, 06/14/2012 - 11:04 | 2525669 New_Meat
New_Meat's picture

2x:

"... US would certainly be helping them find democracy."

Not so, HRC, Susan Rice, our very own GW assured us last year that it was all about democracy.  We did our part!!!!!!  And furthermore, they would take no alternative as an outcome.  So it must be democracy, don't cha' know.

- Ned

Thu, 06/14/2012 - 11:48 | 2525899 LoneStarHog
LoneStarHog's picture

"If Egypt had oil the US would certainly be helping them find democracy."

 

If Egypt had oil the US would certainly be helping them find Fascism promoting it as democracy.

 

Fixed!

Thu, 06/14/2012 - 12:18 | 2526012 duo
duo's picture

correct.  Anything but a constitutional republic.

Thu, 06/14/2012 - 15:49 | 2526967 earleflorida
earleflorida's picture

They've got something much more valuable than 'Oil'!  It's called 'Land',... precious, life sustaining fertile land, for nesting their brood from on far?

Thu, 06/14/2012 - 10:27 | 2525495 Ratscam
Ratscam's picture

Bullish tatzikis

Thu, 06/14/2012 - 10:42 | 2525497 GeneMarchbanks
GeneMarchbanks's picture

 

 

In other words, the military is once again preparing to take over.

Take over? They've always been there in the background while the Kabuki went on.

This is no news.

 

Thu, 06/14/2012 - 10:45 | 2525586 GMadScientist
GMadScientist's picture

I can't say I expected a different outcome over the long-term, but there could be many in Egypt who were not as cynical about their hopes for a future who take non-too-kindly to the explicit threat to that dream being put in stark terms.

And it has implications for the canal, regardless. Maybe not price-shock-worthy, but non-zero.

Thu, 06/14/2012 - 11:13 | 2525724 g speed
g speed's picture

It's imperitive that the military have minions to back loans and credit for purchase of military hardware-- any upheaval of the world wide war for profit machine will not be condoned. All Military Industrial Banking systems require lots of citizens to asume debt. (help us get equipment to kill you or we will kill you)

Thu, 06/14/2012 - 11:19 | 2525768 GMadScientist
GMadScientist's picture

One of many perqs TPTB enjoy with respect to tin-pot dictatorships from Moscow to Mexico (the Trot Trail).

I've noticed a trend among those that don't play along as well...a spectacularly poor safety record.

Thu, 06/14/2012 - 10:29 | 2525502 lolmao500
lolmao500's picture

While in Syria everything is honkey dory...

http://www.jpost.com/Defense/Article.aspx?id=273667

'Hezbollah may move Syrian arms to Lebanon'

http://www.wnd.com/2012/06/russia-warns-war-is-coming/

Russia warns war is coming

Source reveals government given 4-6 weeks to crush opposition

Syrian President Bashar al-Assad is preparing a major offensive in the coming days against the opposition targeting his regime, an informed Syrian government source confirmed.

The source told WND yesterday Assad was warned by Russia that if the coming counterinsurgency targeting the opposition is not successful in the next 4-6 weeks, Syria should be prepared for a war.

And according to family in Israel, they are expecting a war this summer... perhaps within days because of Syria transferring military stuff to Lebanon... they won't allow that. So they expect Israel to carry out strikes if they see that happening, which will lead to full scale war with Syria and Hezbollah... perhaps even Iran...

Don't believe me? When you have this kind of article in the MSM...

http://www.spacedaily.com/reports/Israel_to_evacuate_Tel_Aviv_in_event_o...

Israel 'to evacuate Tel Aviv' in event of missile attack

Israel will evacuate the entire population of Tel Aviv if it is hit by missiles, particularly if they have unconventional warheads, the commander in charge of Israel's central region told AFP.

"In the next war, nobody will be able to drink a coffee in Dizengoff," he said, referring to a popular street in downtown Tel Aviv.

"Israeli civilians will have to face the threat. Today, every civilian is threatened in Israel."

And this....

http://www.spacewar.com/reports/US_braces_for_action_in_Persian_Gulf_999...

Amid dimming expectations that next week's talks in Moscow will defuse the U.S.-Iranian confrontation in the Persian Gulf, the U.S. Navy has sent four additional mine countermeasures ships to the region to oppose an Iranian threat to close the vital oil artery.

But former CIA officer Philip Giraldi has warned that U.S. Internal Look war games conducted in March indicated that the Navy "would have considerable problems dealing with Iranian offensive operations" in the narrow waters of the strait.

The games "revealed that there is a high probability that Americans vessels will be sunk, with considerable loss of life," Giraldi observed.

http://www.spacewar.com/reports/US_risks_getting_dragged_into_Yemen_war_...

U.S. risks getting dragged into Yemen war

This summer is gonna be REAL HOT...

Thu, 06/14/2012 - 10:39 | 2525561 Jason T
Jason T's picture

man, thanks for that recap. I must have missed this on my morning radio news program.  

Thu, 06/14/2012 - 10:55 | 2525628 ThirdWorldDude
ThirdWorldDude's picture

Did they tell you USS Enterprise is currently parked right outside Pakistan and violating international law?

http://www.pakistantoday.com.pk/2012/06/14/news/national/us-moves-uss-enterprise-into-pakistani-waters/

Thu, 06/14/2012 - 11:11 | 2525710 BigJim
BigJim's picture

LOL, we're desperate to get that sucker sunk by someone, anyone.

Thu, 06/14/2012 - 11:20 | 2525780 Uncle Remus
Uncle Remus's picture

Surely there's a mosque in the area they can infiltrate, find some dupes to setup and get 'er done.

Thu, 06/14/2012 - 12:34 | 2526084 mick_richfield
mick_richfield's picture

What that article says is:

“The US has moved its biggest aircraft carrier 65 to 70 nautical miles away from Gawadar in the second week of June,” a well informed source told news-based website.

That's international water.

Fri, 06/15/2012 - 03:20 | 2528524 fajensen
fajensen's picture

Did they they tell you that NDAA-2012 has replaced international law?

Thu, 06/14/2012 - 10:43 | 2525579 my puppy for prez
my puppy for prez's picture

WND....the neocon "Christian" Zionist mouthpiece for REAL political dummies.  Try reading their comment section sometime.  It frightens me to read it and realize that there exist so many braindead, propagandized, Zionized imbeciles constantly advocating for the total annihilation of the "ragheads".  The most racist, vile, and moronic group of commenters in existence today.

As for Philip Giraldi, he is a sharp dude and knows what's up.

Thu, 06/14/2012 - 11:13 | 2525725 DaveyJones
Thu, 06/14/2012 - 13:39 | 2526332 Bartanist
Bartanist's picture

Dragged? ... you mean "caught promoting and having to go public instead of covert"?

Thu, 06/14/2012 - 15:38 | 2526915 Totentänzerlied
Totentänzerlied's picture

must have meant "dragged behind one of the drones we've been flying there every day"

Thu, 06/14/2012 - 12:20 | 2526026 lakecity55
lakecity55's picture

Neocon website. They report the CIA company line on the evil Syrian govt while neglecting to mention Hillary transshipping arms via the GCC to the "rebels" who are actually AQ mercenaries employed by TPTB.

SCOAMF is going to F this up into a hot war. I do not think the Russians or Chinese will roll over with O'Blowjob using unilateral (NATO) action if he is thwarted in the UN.

http://www.voltairenet.org/en

Hillary does not want you to read Voltaire News.

Thu, 06/14/2012 - 16:35 | 2527153 Vigilante
Vigilante's picture

@PUPPY

You probably are not aware what kind of poison 'ragheads' are spewing from a million mosques every Friday...not to mention from radio,TV etc.

 

 

Thu, 06/14/2012 - 21:57 | 2527990 Joseph Jones
Joseph Jones's picture

Thanks for the quotes around "Christian".  Not only does Christ not promote physical violence, period, he outlawed it.  Every god forsaken pro war scum of the earth can quote only the OT in support.  In the first C the OT was "fading away" and replaced (after Jesus fulfilled it) by a "new" and "better covenant", an ever lasting covenant.

David did not see the temple because he shed innocent blood.

Christ elevates hatred to the crime of murder.

Christ hung on the cross.

Christ rebuked Peter for cutting the soldier's ear.

Christ says to save your life is to loose it, to loose your life is to gain the Kingdom of heaven, which is within you (not in the temporal domain). 

Christ is the "King of Peace"

Blessed are the peace makers.

Pray for your enemies.

Feed and cloth your enemies, yes, even an Islamo-terrorist, and even a Rabbinical terrorist of which there are many.

If someone steels your cloke, give them your tunic.

If someone forces you to walk a mile, walk two.  

It goes on and on and on........a believer can not "defend" himself but his physical body is not worth defending because it signifies only the spiritual temple not in the temporal domain.

A Christian can not spirtually square being a police man or carrying a weapon or inflicting violence on another man in the name of the king/mayor/president.

The only physical violence you can know if you are a believer/follower in Christ is to die for Christ, in Christ's name, to spread the gospel of Christ.

Pray for your enemy.   

Fri, 06/15/2012 - 03:35 | 2528533 fajensen
fajensen's picture

Not only does Christ not promote physical violence, period, he outlawed it. 

However, Jesus inflicted Violence on both the money lenders and one non-perfoming date tree*.

In my opinion, the date tree was a bit petty and the bankers got off way too easy. He should have persuaded Daddy to send someone round and sort them out in the traditional way of the Old Testament.!

*)
Jesus Curses the Fig Tree (Mark 11:12-14)
Jesus have a go at the moneylenders:  Mark 11:15–19, 11:27–33, Matthew 21:12–17, 21:23–27 and Luke 19:45–48, 20:1–8) and near the start in the Gospel of John (at John 2:13–16).

Thu, 06/14/2012 - 10:29 | 2525510 jonan
jonan's picture

all your pyramid are belong to us...

Thu, 06/14/2012 - 10:34 | 2525514 hedgeless_horseman
hedgeless_horseman's picture

 

 

I just checked.  The KSA, Kuwait, and Iraq are still in a rock-solid puppet state lock down.  We have nothing to fear.

Drones, drugs, and dollars FTMFW!

Just more happy motoring this weekend on perfectly maintained freeways as far as anyone would want to drive.  Don't forget to Super-Size at the drive through.

Thu, 06/14/2012 - 10:34 | 2525540 lolmao500
lolmao500's picture

Riiiiiiiight.

Coordinated car bomb attack in Iraq kills 65, injures over 200 (AP)

Real stable.

Thu, 06/14/2012 - 10:43 | 2525551 hedgeless_horseman
hedgeless_horseman's picture

 

 

Quiet.  You'll wake the sheep.

 

There has never been a better time

to buy or lease a new

GMC Suburban!

10 Cty / 15 Hwy

$56,645

 

Thu, 06/14/2012 - 10:51 | 2525608 GMadScientist
GMadScientist's picture

How many bathrooms?

Thu, 06/14/2012 - 10:53 | 2525624 brooklynlou
brooklynlou's picture

Cheaper and more fuel efficient to buy a used tank. Parks easier too ...

Thu, 06/14/2012 - 11:10 | 2525704 jonan
jonan's picture

link? i'd love to buy one for SHTF, either that or a used russian MIG, i think they go for $40-$60k...

Thu, 06/14/2012 - 11:13 | 2525727 BigJim
BigJim's picture

If you can afford to fuel a russian MIG, then you can afford to get out of Dodge NOW, before the SHTF.

Thu, 06/14/2012 - 11:24 | 2525803 jonan
jonan's picture

yea i know, it was just wishful thinking from a 9-5 wage slave...

Thu, 06/14/2012 - 11:24 | 2525804 Uncle Remus
Uncle Remus's picture

Germans can convert it to CNG.

Do NOT follow this link or you will be banned from the site!