(Photo Credit: U.S. State Department)
Secretary of State Mike Pompeo met with Arab foreign ministers to discuss creating MESA.
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According to the State Department, Pompeo met Friday with the foreign ministers of the Gulf Cooperation Council+2 group of nations. The department’s readout, provided by Undersecretary of State for Public Diplomacy and Public Affairs Heath Nauert stated: Continue reading
Cairenes are not modest about their beloved city. It is Umm al-Dunya, they say, the mother of the world. They also call it simply Masr, the Arabic term for Egypt, suggesting, of course, that there is really nothing worth noting in the vast country beyond their grand city on the Nile.
Fifty miles east of Cairo, a Chinese construction firm is giving the aged, crowded, increasingly decaying “mother of the world” a face-lift of sorts. China State Construction and Engineering Company (CSCEC) has broken ground on a new business and administrative district to the tune of $3 billion, mostly financed by Chinese banks. When completed by late 2019, according to projections, much of Egypt’s government will move to this new “capital.” Continue reading
President Donald Trump said Tuesday night July 31: “I have a feeling they’ll be talking to us pretty soon. And maybe not, and that’s OK too.” He sounded exactly as he did before meeting Kim Jong-un in Singapore on June 7. Israel, caught by surprise, reported an assurance from “a senior US official” that “there is no change in the tough policy against Iran.” Continue reading
FILE – In this April 16, 2018, file photo, Sen. Rob Portman, R-Ohio, speaks during a news conference in Cincinnati. The Obama administration secretly sought to give Iran brief access to the U.S. financial system by sidestepping sanctions kept in place after the 2015 nuclear deal, despite repeatedly telling Congress and the public it had no plans to do so. That’s according to an investigation by Senate Republicans released June 6. “The Obama Administration misled the American people and Congress because they were desperate to get a deal with Iran,” said Portman, the subcommittee’s chairman. (AP Photo/John Minchillo, file)
WASHINGTON (AP) — The Obama administration secretly sought to give Iran access — albeit briefly — to the U.S. financial system by sidestepping sanctions kept in place after the 2015 nuclear deal, despite repeatedly telling Congress and the public it had no plans to do so.
An investigation by Senate Republicans released Wednesday sheds light on the delicate balance the Obama administration sought to strike after the deal, as it worked to ensure Iran received its promised benefits without playing into the hands of the deal’s opponents. Amid a tense political climate, Iran hawks in the U.S., Israel and elsewhere argued that the United States was giving far too much to Tehran and that the windfall would be used to fund extremism and other troubling Iranian activity.
The report by the Senate Permanent Subcommittee on Investigations revealed that under President Barack Obama, the Treasury Department issued a license in February 2016, never previously disclosed, that would have allowed Iran to convert $5.7 billion it held at a bank in Oman from Omani rials into euros by exchanging them first into U.S. dollars. If the Omani bank had allowed the exchange without such a license, it would have violated sanctions that bar Iran from transactions that touch the U.S. financial system. Continue reading
Military tensions rise in the Gulf region amid Iranian threats and supplies of extended-range missiles to the Yemeni insurgents.
Tehran has warned Riyadh that unless the Saudi blockade of Yemeni ports is lifted, Revolutionary Guards missiles supplied to the Yemeni Houthi insurgents will be loosed against the seaports and airfields of Saudi Arabia, Dubai and Abu Dhabi. The warning was forwarded to their governments through the Omani back channel. Continue reading
The issue of when a global reserve currency begins or ends is not an exact science. There are no press releases announcing it, and neither are there big international conferences that end with the signing of treaties and a photo shoot. Nevertheless we can say with confidence that the reign of every world reserve currency has to come to and end at some point in time. During a changeover from one global currency to another, gold (and to a lesser extent silver) has always played a decisive role. Central banks and governments have long been aware that the dollar has a sell-by date as a reserve currency. But it has taken until now for the subject to be discussed openly. The fact that the issue has been on the radar of a powerful bank like JP Morgan for at least five years, should give one pause. Questions regarding the global reserve currency are not exactly discussed on CNBC every day. Most mainstream economists avoid the topic like the plague. The issue is too politically charged. However, that doesn’t make it any less important for investors to look for answers. On the contrary. The following questions need to be asked: What indications are there that the world is turning its back on the US dollar? And what are the clues that gold’s role could be strengthened in a new system? Continue reading
Last summer, when the Syrian conflict was near its peak under the Obama administration, China unexpectedly warned it was ready to enter the proxy war when in a stunning announcement, Xinhua reported that Beijing was prepared to side with Syria and Russia, against the US-led alliance, and that Xi and Assad had agreed that the Chinese military will have closer ties with Syria and provide humanitarian aid to the civil war torn nation.
A high-ranking People’s Liberation Army officer also said that the training of Syrian personnel by Chinese instructors has also been discussed: the Director of the Office for International Military Cooperation of China’s Central Military Commission, Guan Youfei, arrived in Damascus on Tuesday for talks with Syrian Defense Minister Fahad Jassim al-Freij, Xinhua added. Guan said China had consistently played a positive role in pushing for a political resolution in Syria. “China and Syria’s militaries have a traditionally friendly relationship, and China’s military is willing to keep strengthening exchanges and cooperation with Syria’s military,” Xinhua quoted Guan. Continue reading
The Gulf Cooperation Council (GCC) is concerned over a missing radioactive device from Iran’s Bushehr nuclear reactor, Saudi-owned Arab newspaper Asharq al-Awsat reported on Thursday.
Aside from the security concerns, at the forefront in the GCC’s mind is what impact the radioactive device—wherever it may be today—could have on water supplies.
According to the newspaper, the device went missing after the car transporting it was stolen. Thankfully, the vehicle was recovered, but the radioactive nuclear device was not so lucky. Continue reading
It was meant to be a farewell visit by a cherished friend heading for retirement. Instead, Barack Obama’s visit to Saudi Arabia Tuesday and Wednesday turned into an unwanted call by an uninvited guest at an inconvenient time.
It started a the airport, when Saudi King Salman sent one of his nephews to greet the US president on arrival in Riyadh. The gesture was specially telling because the Saudi monarch had spent much of the day personally welcoming other leaders at the airport. It ended not much better: forced smiles, unconvincing statements of solidarity.
It was typical of what has become the Obama Doctrine: dropping old allies in the hope of turning adversaries into new friends.
Needless to say, the gamble has failed. Continue reading
In the 1970s and ’80s, Europe was terrorized by Communist armed groups, such as the Germany’s Baader Meinhof (pictured in black and white), which had a “gray zone” of millions of suspected sympathizers. Today’s European jihadists, such the late Paris attack mastermind Abdelhamid Abaaoud (right), have a much deeper “gray zone” of sympathizers in the Muslim communities of Europe.
- Among young European Muslims, support for suicide bombings range from 22% in Germany to 29% in Spain, 35% in Britain and 42% in France, according to a Pew poll. In the UK, one in five Muslims have sympathy for the Caliphate. Today more British Muslims join ISIS than the British army. In the Netherlands, a survey shows that the 80% of Dutch Turks see “nothing wrong” in ISIS.
- Even if these polls and surveys must be taken with some caution, they all indicate a deep and vibrant “gray zone,” which is feeding the Islamic jihad in Europe and the Middle East. We are talking about millions of Muslims who show sympathy, understanding and affinity with the ideology and goals of ISIS.
- How many Muslims will this ISIS virus be able to infect in the vast European “gray zone”? The answer will determine our future.
In the 1970s and ’80s, Europe was terrorized by a war declared by Communist armed groups, such as the Germany’s Baader Meinhof or Italy’s Red Brigades. Terrorists seemed determined to undermine democracy and capitalism. They targeted dozens of journalists, public officials, professors, economists and politicians, and in Italy in 1978, even kidnapped and executed Italy’s former prime minister, Aldo Moro.
350,000 soldiers, 20,000 tanks, 2,450 warplanes and 460 mlitary helicopters is not a war drill. It’s the real deal. It would be great if this assessment was wrong, but amassing this insane of an amount can’t be for any normal drill. Historically, war season begins from March and ends in August, which makes this interesting to say the least as the 18 days of exercises spreads into the beginning month. Moreover, this isn’t all about Syria. It’s also about taking Iran out, Saudi Arabia’s enemy, who seeks to dominate the Middle East
What makes this even more dangerous is Pakistan’s involvement. They are a nuclear power who recently in January overtly threatened to wipe Iran off the map should harm come to Saudi Arabia. China has taken the side of Syria and should it get involved expect a Pakistani-Chinese exchange and even a possible strike from India on China. This whole event in the making would just open Pandora’s Box and many scenarios could unfold.
For anyone in the U.S. who thinks this will be “over there”, think again. Stockpile food now because the fallout would crash the markets and even spark terrorist attacks from thousands of sleeper cells on the American homeland due to western involvement.
If you think World War III is a joke or out of a question, then you really need to make a personal assessment. The facts are all there and everything is in motion to make it happen. Where this all currently leads, we can only watch and see.
350,000 soldiers, 20,000 tanks, 2,450 warplanes and 460 military helicopters are massing in northern Saudi Arabia for a military exercise that is being called “Northern Thunder”. According to the official announcement, forces are being contributed by Saudi Arabia, the United Arab Emirates, Egypt, Jordan, Bahrain, Sudan, Kuwait, Morocco, Pakistan, Tunisia, Oman, Qatar, Malaysia and several other nations. This exercise will reportedly last for 18 days, and during that time the airspace over northern Saudi Arabia will be closed to air traffic. This will be the largest military exercise in the history of the region, and it comes amid rumors that Saudi Arabia and Turkey are preparing for a massive ground invasion of Syria.
If you were going to gather forces for an invasion, this is precisely how you would do it. Governments never come out and publicly admit that forces are moving into position for an invasion ahead of time, so “military exercises” are a common excuse that gets used for this sort of thing. Continue reading
Prospect of the Islamic Republic pumping an additional 500,000 barrels a day sends stock markets in Dubai and Saudi Arabia into tailspin
Stock markets across the Middle East saw more than £27bn wiped off their value as the lifting of economic sanctions against Iran threatened to unleash a fresh wave of oil onto global markets that are already drowning in excess supply.
All seven stock markets in the Gulf states tumbled as panic gripped traders. London shares are now braced for a second wave of crisis to hit when they open on Monday morning after contagion from China sent the FTSE 100 to its worst start in history last week.
‘Saudi Arabia is acting directly against the interests of half the cartel and is running Opec over a cliff,’ says RBC
The rumblings of revolt against Saudi Arabia and the Opec Gulf states are growing louder as half a trillion dollars goes up in smoke, and each month that goes by fails to bring about the long-awaited killer blow against the US shale industry.
Algeria’s former energy minister, Nordine Aït-Laoussine, says the time has come to consider suspending his country’s Opec membership if the cartel is unwilling to defend oil prices and merely serves as the tool of a Saudi regime pursuing its own self-interest. “Why remain in an organisation that no longer serves any purpose?” he asked.
Such was the price to be paid for King Abdullah’s economic war on America’s oil independence from shale before he passed away. The Saudi-friendly IEA has said America will never take the crown from Saudi Arabia whereas a Saudi prince has mentioned oil will never see under $100 per barrel ever again. The baton has now been passed to King Salman and he will be continuing the attack for an indefinite duration.
In the end, it was a matter of who had more asset reserves: American oil companies or the Saudi coffers built on decades of exports.
In this game of economic chicken it looks like the American oil companies who are already down to the “bare bones” might be the first to blink, however, total destruction on both sides shouldn’t be dismissed.
Saudi Arabia may run out of financial assets needed to support spending within five years if the government maintains current policies, the International Monetary Fund said, underscoring the need of measures to shore up public finances amid the drop in oil prices.
The same is true of Bahrain and Oman in the six-member Gulf Cooperation Council, the IMF said in a report on Wednesday. Kuwait, Qatar and the United Arab Emirates have relatively more financial assets that could support them for more than 20 years, the Washington-based lender said. Continue reading
Gulf states are in talks to buy the Iron Dome defense system and possibly other Israeli-developed weapons for protection from “a growing arsenal of Iranian missiles,” Sky News reports.
Bahrain’s foreign minister, Khalid bin Mohammed, told the channel that the members of the Gulf Cooperation Council, including Saudi Arabia, the United Arab Emirates, Oman, Qatar and Kuwait, are interested in purchasing the Israeli weapon for the entire council. Continue reading
Global Geopolitics 