The new Great Game: Europe looks within for roots of renewal

Exactly what was predicted here long ago as a potential outcome is now stated in this article: The EU will eventually break up into a two tier hiearchy. Also mentioned was the Mediterranean nations being a source of gas and oil to fuel and rebuild Europe’s economy, which is why Greece and Cyprus have been subjugated into EU vassal states and likely will remain on board any future EU integration — they’re too strategically important to lose. The United States of Europe is indeed coming.

The term “the Great Game” referred to the strategic rivalry between the British and Russian empires in Central Asia. Today’s Great Game is the battle for economic survival in a world of low economic growth. In such a world economic nationalism reasserts itself, reducing free trade in goods and services and free movement of capital. Escalating sovereign debt and banking sector problems will favour European introspection.

Individual European economies are modest in size relative to the US. But as a single entity the European Union, including the 17-member eurozone, accounts for more than 25 per cent of global GDP, making it the world’s largest economic unit. Continue reading

Cyprus resists international pressure to sell gold reserves

Cyprus is resisting pressure from the European Commission (EC) and International Monetary Fund (IMF) to sell its gold reserves to finance its “bailout.”

Yesterday the Cypriot Finance Minister said that a sale of its gold reserves was not the only option under consideration to pay down its debt and that other alternatives were being considered. Continue reading

Somaliland’s role in a potential military conflict between Ethiopia and Egypt

Tension is increasing as Ethiopia and Egypt continue to butt heads over the Nile River. Ethiopia remains firm on building the $4.2 billion Grand Ethiopian Renaissance Dam. Egypt is determined to stop Ethiopia from building the dam, claiming that Egypt is the “gift of the Nile” and water supply will decrease by 20% and hydroelectric power would decrease by 40%.

The battle over the Nile has already drawn neighboring countries into the dispute. Sudan and South Sudan have expressed their support for Ethiopia’s dam, while Somalia might show their allegiance to Egypt. Continue reading

Jim Sinclair: ISDA to determine this week if five major US banks go insolvent

Yet, the American public is virtually and completely unaware.

In what might be one of the most important credit events about to occur in the history of the financial world, the International Swaps and Derivative Association (ISDA) is expected to make a decision as early as today on whether five major US banks will go insolvent according to Jim Sinclair in an interview on January 30th.

The ISDA is one of the most powerful monetary entities in the world, and in many cases according to Mr. Sinclair, has more power than governments.  It’s dominion spreads throughout the entire banking system, determining whether one or more of the nearly $1 quadrillion in derivatives and credit default swaps are paid out to holders in the event of a bank, sovereign nation, or securities default.

In his interview with Ellis Martin, Mr. Sinclair lays out that the decision by the ISDA could take place as early as today, and no later than this week, and it involves five major US banks, the nation of Greece, the Euro, and the chances of a massive QE bailout in the Western economic system.

Continue reading article: Jim Sinclair: ISDA to determine this week if five major US banks go insolvent (Examiner)

Interview link: Breaking News Ellis Martin Report with Jim Sinclair