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Gideon Gono is Not Disappointing Me

"I have just started reading former Zimbabwe central banker Gideon Gono's book, Zimababwe's Casino Economy. It is meeting my expectations. So far I have learned, he has four children, Passion, Prince, Pride and Praise. He has an undergraduate correspondence degree from Rapid Results College and in the book, he slams critics of his honorary PhD degree from the University of Zimbabwe. In a Krugman-would-be-proud fashion, Gono informs in the book, that toward the end of his reign as head of the central bank, inflation hit 231 million percent annually." Continue reading →

Continue ReadingGideon Gono is Not Disappointing Me

Detlev Schlichter: Forward Guidance? – Nonsense! Central bankers have no choice.

"This was the first policy meeting under new Bank of England governor Mark Carney, the ‘most talented central banker of his generation’ to some, the most overpaid bureaucrat in the world to others. But credit where credit is due. Carney is a marketing genius. Not only when it comes to marketing himself, but also when it comes to selling policy paralysis as strategy. Never before has the phrase 'What can we do? We can only stick to what we have done for years.', so effectively been presented as at the BoE’s press conference yesterday. It is now called ‘guidance’, and it evidently requires a specific skill-set." Continue reading →

Continue ReadingDetlev Schlichter: Forward Guidance? – Nonsense! Central bankers have no choice.

Now They Tell Us: China Debt Levels ‘Unknown’

"A senior Chinese official said on Friday that the government did not know precisely know how much debt local governments had built up and warned that it could be more than previous estimates. Estimates of local government debt range from Standard Chartered's 15 percent of the country's GDP at end-2012 to Credit Suisse's 36 percent. Fitch put the figure at 25 percent when it downgraded China's sovereign debt rating in April. Vice Finance Minister Zhu Guangyao said China had not released official figures since a 2010 auditing report that put local government debt at 10.7 trillion yuan." Continue reading →

Continue ReadingNow They Tell Us: China Debt Levels ‘Unknown’

Campaign to Salvage Central Banking

"LeBor himself rehearses the history of the BIS in this interview and points out how it probably should have been shut down several times. Certainly after World War II it should have been shut down because the leadership engaged in communication with Germany's wartime corporate cartels. These cartels were specifically assured that their profits would be protected if they cooperated with the BIS and other allied authorities. It was a secret deal that would have caused immense outrage in Britain and the US if publicized. It never was. The BIS is obviously more than the 'bank of banks.' It is a command-and-control mechanism for the entire globalist machinery of finance." Continue reading →

Continue ReadingCampaign to Salvage Central Banking

Michael Scheuer: For Egypt’s Islamists war is a legitimate option

"What should concern Americans most about the near certainty of war in Egypt, and thus the broadening of the mujahedin’s overall war against the West, is whether Obama’s administration — in league with pro-Israel Republican and Democratic senators, Britain, and Israel — used its intelligence services to help the leaders of Egypt’s anti-democratic opposition to organize, fund, and train the democracy-killing forces that filled Cairo’s streets with demonstrations and prompted the Egyptian army to use that most democratic of all tools — a military coup." Continue reading →

Continue ReadingMichael Scheuer: For Egypt’s Islamists war is a legitimate option

US Egypt Policies Don’t Pass the Laugh Test

"Let’s review US policy toward Egypt to see the foolish hypocrisy of the government’s interventionism: First the US props up the unelected Hosni Mubarak for decades, spending tens of billions of dollars to keep him in power. Then the US provides assistance to those who in 2011 successfully overthrew Mubarak. Then the US demands an election. The Egyptians held an election that was deemed free and fair and shortly afterward the US-funded military overthrows the elected president. Then the US government warns the military that it needs to restore democracy – the very democracy that was destroyed by military coup! All this they do with a straight face.." Continue reading →

Continue ReadingUS Egypt Policies Don’t Pass the Laugh Test

Catholic Priest Allegedly Beheaded in Syria by Al-Qaeda-Linked Rebels Who Take Pictures and Cheer

"The Catholic news service quotes local sources who report that the radical Al-Qaeda-linked Jabhat al-Nusra, or Al-Nusra Front, was behind the savage killing. Dozens of men and boys are seen cheering on as three men are seated on the ground awaiting their grisly fate. The men are methodically beheaded one at a time by men holding what appears to be a simple kitchen knife after which the heads are placed on top of the bodies. A frenzy ensues, with dozens drawing out their smartphones to capture the bloody scene. Catholic Online is raising alarm that western nations are providing support to the rebels who have shown a proclivity toward persecuting Christians." Continue reading →

Continue ReadingCatholic Priest Allegedly Beheaded in Syria by Al-Qaeda-Linked Rebels Who Take Pictures and Cheer

Obama and Israel Stoke a Sectarian Shia-Sunni War

"Obama is acting as an appendage of Israel. He does this by increasing arms shipments to rebels in Syria who are Sunnis. Islamist fighters are flooding into Syria, we read. Obama thereby rewards and encourages extreme religious sentiments, leading to religious conflicts. Moderate Muslims find that their nations are increasingly subject to the drives of the armed extremist contingents who become battle-hardened. Obama and Israel are lighting a keg of dynamite. It will explode in their faces. If enough extremist Muslims become armed and ready to fight, they will eventually turn on Israel." Continue reading →

Continue ReadingObama and Israel Stoke a Sectarian Shia-Sunni War

US’s Man ElBaradei May Head Egypt

"So perhaps it will be ElBaradei after all ... He's been waiting in the wings and the failure of the Muslim Brotherhood's regime may now bring him to the fore. It also became clear to us over time that the West's surreptitious efforts in the Middle East were emplacing Islamic regimes. This became evident and obvious in Tunisia, The Ivory Coast, Libya, etc. But for whatever reason, Mohammed Mursi didn't work out. Now perhaps a technocrat will enter. ElBaradei is in favor of installing a US$5 billion IMF package, with its attendant austerity, according to this Reuters article. Was this the reason for Mursi's ouster? His lack of cooperation with the IMF?" Continue reading →

Continue ReadingUS’s Man ElBaradei May Head Egypt

What’s Happening in Egypt?

"Former US Ambassador and neocon John Bolton has endorsed the Egyptian coup and the insightful libertarian Lew Rockwell believes nothing good can come of it for Egyptians. Below, we ask whether this is one of the greatest diplomatic reversals for the US in modern times ... then add in our conclusion that 'we don't know.' What seems fairly certain is that the Muslim Brotherhood would not have obtained power without US backing and now they are out of power. What takes place over the next few days and weeks should clarify this tale. We hope whatever happens will benefit Egyptians, who have seen nothing but bloody turmoil and despotism for decades." Continue reading →

Continue ReadingWhat’s Happening in Egypt?