Dangerous Currency War Dragging World Toward World War III

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Echoes of 1934 are thundering with increasing intensity.

In 1934, United States President Franklin Delano Roosevelt outlawed the private ownership of gold. People who refused to turn their gold over to the government went to jail. With the same presidential order Roosevelt shocked the world by devaluing the dollar. The cost for an ounce of gold, previously set at $20.67, henceforth cost $35.

President Roosevelt told the country that it was a radical effort to stimulate America’s economy. A cheaper dollar would make America’s exports less expensive and help American companies sell more products to the rest of the world, he said. More money would flow into America, and more jobs would be created.

It did those things. And it also marched the world another giant step closer to war.

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US is Gearing Up for Onrushing Economic Apocalypse

September and October… get used to hearing those two months.

What’s coming is imminent, but not the end of the world. Although, it will likely trigger serious civil unrest and even war.

Be prepared, be it financially or physically. The best advice, however, is to be right with the Lord.

 

America hurls all effort into preparing for September “apocalypse” as economic forecasts are becoming more and more intimidating, RT columnist Robert Bridge wrote.

According to Gallup’s recently released US Economic Confidence Index rating, confidence in the US economy among Americans dropped to its lowest level in July. Nothing to be surprised about, considering that each and every economy analyst deems it duty to share predictions on the country’s nearest future in a campfire scary story manner.

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Divine Eagle: How much of a threat is China’s new high-flying drone to US air superiority?

Yesterday the press doubted China and Russia’s ability to pose a serious challenge. Today they’re 50-50. Tomorrow there’s likely to be no question.

 

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The US has led the way in the use of stealth aircraft in combat. Now the game could soon be up, as scientists in China and Russia are discovering ways to make the invisible visible. Mark Piesing reports

In May, grainy pictures emerged of a huge new twin-fuselage, high-altitude Chinese drone called the Divine Eagle. Those in the know instantly labelled it the “stealth-hunting drone”. Stealth technology is the equivalent of electronic camouflage for planes, making them hard for enemy radar to spot – but the Chinese drone is certainly big enough to carry the special radars developed to detect stealth aircraft. It’s able to fly high enough to detect them long before they can reach their targets. Its radar is rumoured to have been able to pick out an American stealth F-22 Raptor off the coast of South Korea almost 500km away. Continue reading

Greece needs €100bn debt relief as permanent depression looms

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National Institute of Economic and Social Research says Greek debt write-off must be much larger than IMF demands, as think-tank warns VAT hikes and budget targets are asphyxiating economy

Greece needs a debt write-down of almost €100bn (£70bn) if the country is to stand a chance of clawing its way out of a “prolonged and severe depression”, according to a leading think-tank.

In a stark analysis, the National Institute of Economic and Social Research (NIESR) laid bare the impact of VAT hikes and strict budget targets that it said could become “self-defeating”.

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Panic as China suffers ANOTHER stock market crash with largest shares fall in EIGHT years

INVESTORS in Britain and around the world have been sent into panic today after China’s stocks plummeted by 8.5 per cent – the largest one-day fall in almost eight years.

The FTSE 100 was in the red this morning after share indices in the world’s second-largest economy suffered their worst drop since 2007.

The fall in China is part of a wider slump in the country’s stocks that first began in mid-June, amid fears the China’s finance bubble had burst.

Previously China’s indices had almost doubled in the space of just a year.

The country’s Government had managed to briefly calm nerves with a raft of support measures, but today investors appeared to have lost all faith in official efforts to prop up values. Continue reading

Banker shot SIX times in London assassination attempt could help solve Russian murder

A RUSSIAN banker who survived being shot six times in an assassination attempt in London could help police solve the murder of a political leader in his home country.

German Gorbuntsov has been living under 24-hour armed guard in the UK since the shooting outside his apartment in Canary Wharf in 2012.

But now police in Moscow believe the 49-year-old businessman could help them solve the murder of Russian opposition leader Boris Nemtsov, a strong critic of President Vladimir Putin, who was killed in February.

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NATO’s Weakness Will Make Europe Stronger

A German blitzkrieg force in Poland symbolizes Europe’s new military direction.

To half of the alliance, the Cold War is over. To the other half, it’s back on. Seventy percent of Poles say they view Russia has a major threat, according to a Pew poll published in June. For Germany, it was a little over half that.

This dissonance is at the core of NATO’s weakness. And it was exposed in last month’s Pew poll.

Collective defense is at the heart of NATO, under its Article V. But in only two countries out of the eight surveyed, did a majority say they felt they should honor that commitment: the United States and Canada. In Poland and the United Kingdom, those in support fell only slightly short of a majority. Continue reading

Germany refuses to let Greece off hook

The crisis in the eurozone was set to escalate on Monday night after the Germans said they could not write off Greek debts without offering financial assistance to Ireland, Spain and Portugal.

George Osborne, the Chancellor, on Monday urged Angela Merkel, the German chancellor, to consider backing down to ensure there was not a “disorderly exit” from the eurozone.

He said “the situation risks going from bad to worse” and warned that “Britain will be affected the longer the Greek crisis lasts and the worse it gets”.

He suggested Britain could fly planeloads of euro notes to Greece to assist stranded tourists.

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‘Historic’ AIIB Signing Marks Beginning of New Era, China Says

Global finance fears grow as Greece faces economic meltdown

Several Western countries issued travel warnings for Greece on Sunday, as the Greek government shut down all banks and imposed capital controls following the breakdown of talks between Athens and the European Union. British and American citizens traveling or living in Greece were advised to have enough cash on hand, as ATMs were quickly running out of currency. In a late-night televised address to the nation, Greek Prime Minister Alexis Tsipras said banks would remain closed until July 6 –the day after Greeks vote in a nationwide referendum on whether to accept the bailout terms proposed to Greece by its creditors. Police tightened security around ATM machines, as lines were reportedly formed in petrol stations in the capital. Continue reading

Europe’s bankers fear Brexit more than Grexit

The possibility of Britain leaving the European Union sometime in the future worries European bankers a great deal more than the prospect that Greece might be on its way out soon.

Britain’s inclusion in the EU is more important to the bloc’s long-term future than whatever happens to Greece, bankers attending a financial industry conference said, even as last-ditch talks aimed at keeping Greece solvent and avoiding a possible exit from the euro zone rumble on in Brussels. Continue reading

Debt, War and Empire By Other Means

This is how the Fourth Reich is coming to be. If you’re still looking for Nazis, you’re 70 years too late. The German hegemony is conquering through other means.

You have not anchored Germany to Europe,… You have anchored Europe to a newly dominant, unified Germany. In the end, my friends, you’ll find it will not work.

– Margaret Thatcher

 How right she was.

 

 

This video below may help one to understand some of the seemingly obtuse demands from the Troika with regard to Greece.

The video is a bit dated, but the debt scheme it describes remains largely unchanged. The primary development has been the creation of an experiment called the European Union and the character of the targets.   One might also look to the wars of ‘preventative intervention’ and ‘colour revolutions’ that raise up puppet regimes for examples of more contemporary economic spoliation.

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Germany plans for exit from eurozone of Greek ‘clowns’

London:  Germany has disclosed that it is making contingency plans for Greece to leave the euro as “make or break talks” are expected to end without agreement.

Wolfgang Schaeuble, Germany’s finance minister, said he was not hopeful that Greece and its creditors would reach agreement on the release of new bail-out funds.

With Greece set to default on a US$1.1 billion ($1.4 billion) debt repayment, Mr Schaeuble said that Angela Merkel’s government was making emergency plans for the country’s exit from the eurozone. Continue reading

Is Europe really safe in the event of a Grexit?

The country’s room to manoeuvre really is almost gone

Greece is on the brink of crashing out of the eurozone. So what’s new? Haven’t we been reading headlines like that for the past three years. Continue reading

German tanks enter Poland in major Nato exercise

German tanks are rolling into Poland as part of a major Nato exercise as the US mulls over whether to deploy heavy weaponry in eastern Europe.

The arrival of German forces in Poland triggered World War II in 1939 but this time their arrival is broadly welcome, as it forms part of Operation Noble Jump. Continue reading