Tuesday, July 3, 2012

Lord Stirling's News Blog EUROPE


 Lord Stirling's News Blog EUROPE

Holy Shroud of Turin

US military re-surging in Persian Gulf as Turkey scrambles fighters for Third Day and Iran fires Medium-Range Missiles ~ link ~ According to FOX televised news, Syria also scrambled fighters today as Turkish helicopters got close to the Syrian border.  As I said the other day, the Geneva Syrian 'Agreement' will simply delay the war one week or so.  Stirling     
If one only looks at equity or FX futures this morning, one would completely ignore the real action in the last few hours which is all about crude, where Brent just passed back above $100 and WTI is up over $3 on the session. The reason is that the market's ultra short term attention span has noticed the following piece from the NYT, which says nothing new, and which Zero Hedge readers have known for a while, yet as a regurgitation of an old theme, provides at least a "new" short-term catalyst: "The United States has quietly moved significant military reinforcements into the Persian Gulf to deter the Iranian military from any possible attempt to shut the Strait of Hormuz and to increase the number of fighter jets capable of striking deep into Iran if the standoff over its nuclear program escalates. The deployments are part of a long-planned effort to bolster the American military presence in the gulf region, in part to reassure Israel that in dealing with Iran, as one senior administration official put it last week, “When the president says there are other options on the table beyond negotiations, he means it.” Supposedly this is news, even though a month ago we observed the latest very much expected accumulation in the 5th Fleet in "And Meanwhile, In The Arabian Sea..."

Of course, the escalation posturing continues on both sides, as Russia and China are no longer shy about their particular interests in the region: "Iran said on Tuesday it had successfully tested medium-range missiles capable of hitting Israel in response to threats of military action against the country, Iranian media reported. The Islamic Republic announced the "Great Prophet 7" missile exercise on Sunday after a European Union embargo against Iranian crude oil purchases took full effect after another fruitless round of big powers talks with Tehran. Iran's official English-language Press TV said the Shahab 3 missile with a range of 1,300 km - able to reach Israel - were tested along with the shorter-range Shahab 1 and 2."

And just to make sure if and when all hell breaks, NATO is involved too, we read that Turkey scrambled jets for the third day in a row just to keep the provocations going. From Reuters: 

The Pentagon and NATO Rehearse for War Against Russia ~ link ~ The price that the sheeple in all the NATO nations will pay for allowing the Global Banking Cartel and Zionists free reign is their deaths in World War III.   That is what happens when you allow a dangerous parasite disease to run wild and unchecked for a long time.   Stirling     

US military strength beefed up at Hormuz as nuclear talks with Iran fade ~ linkThe Obama administration released details Tuesday, July 3, of a fresh buildup of its military forces in the Persian Gulf, stressing their task is to fend off any Iranian attempt to endanger international shipping by blocking or planting mines in the Strait of Hormuz.

According to our sources, the information released in Washington on the US Gulf buildup represents only a fraction of the concentration of strength gradually building up around Iran for five months since March. It was then that two squadrons of the F-22 Raptor stealth planes were moved to the United Arab Emirates air base at Al Dhafra and troops were flown in to two strategic islands, Masirah on the Gulf of Oman and Socotra at the meeting-point between the Gulf of Aden and the Indian Ocean. Their numbers now are estimated at 40,000.  

Iran test fires dozens of missiles ~ link ~ Warning shots but no one is paying attention!   Stirling    

New Iran Sanctions have tensions rising in the Straight of Hormuz ~ link ~ We've covered how the U.S., Israel and Iran are preparing for the possibility that U.S.-Israel cyber warfare spills over to acts of war in the physical world. Now that the most severe of the European sanctions have come into effect, tensions are mounting around Strait of Hormuz – a vital transit point for a fifth of the world's oil supply.

The consequent specter of war has never been more real.

If one storm could turn DC dark for several days, what would a massive EMP Burst do?  ~ link ~ Answer: We would be back in the late 1800s for many months to several years!    Stirling     
Sometimes we all get a little reminder of just how completely and totally dependent we are on the power grid.  Massive thunderstorms that ripped through Ohio, West Virginia, Maryland, Washington D.C. and Virginia left millions without power over the weekend.  At this point it is being projected that some people may not get power back until the end of the week.  The "super derecho" storm that pounded the Washington D.C. area on Friday night with hurricane-force winds is being called unprecedented.  But the truth is that there are other events that could happen that would be far more damaging to our power grid.  For example, a substantial EMP burst over a major U.S. city would fry virtually all of the electronics in the city and take the power grid in the area down indefinitely.  A gigantic EMP burst over the entire country (caused by a massive solar storm or a very large nuclear explosion high in the atmosphere) could theoretically take down the entire national power grid.  Just try to imagine a world where nobody has any electricity, nobody can pump gas, nobody can use their credit cards or get any more money, where most vehicles won't start, where nobody has the Internet, where all cell phones are dead and where nobody can heat or cool their homes.  That is how serious an EMP burst could potentially be.  We are talking about an event that could be millions of times worse than 9/11.

Hopefully this latest storm has reminded Americans about how vulnerable our power grid really is and about how close we really are to being knocked back to the late 1800s.
Let's review some of the damage that this "super derecho" storm caused to the D.C. area....

Kicking the Can Down the Road ~ link ~ Has Europe finally been saved this time?  Has this latest "breakthrough" solved the European debt crisis?  Of course not, and you should know better by now.  European leaders have held 18 summits since the beginning of the debt crisis.  After most of the preceding summits, global financial markets responded with joy because European leaders had reached "a deal" which would supposedly solve the crisis.  But a few weeks after each summit it would become clear that nothing had been solved and that the financial crisis had actually gotten even worse than before.  How many times do they expect us to fall for the same sorry routine?  Nothing in Europe has been solved.  You can't solve a debt problem with more debt.  European leaders are just kicking the can down the road.  More debt will relieve some of the short-term pressure, but in a few weeks it will be apparent that the underlying problems in Europe continue to grow.  Unfortunately, there is not an unlimited amount of EU bailout money, so once all of these "financial bullets" have been fired European leaders are going to find that kicking the can down the road will not be so easy anymore.  The truth is that the financial crisis in Europe has not been cancelled - it has just been put off for a few weeks or a few months.

Do you solve the problems of a credit card addict by giving that person another credit card?  Of course not.  You may delay the short-term financial problems of the credit card addict by giving that person another credit card, but in the process you make the long-term problems even worse.
Well, that is essentially what is happening in Europe.  European governments and the European financial system have become ridiculously dependent on debt.  By giving European debt junkies another "hit" or two it may relieve a bit of short-term suffering but it doesn't solve anything.
Just think about it.

Barclays LIBOR Scandal: Prison will remedy ~ link ~ That or a good bunch of public hangings!   Stirling    

Many executives on Wall Street and in The City, London’s central business district, have reason to be VERY NERVOUS this morning. Their sweaty palms have nothing to do with the ongoing crisis in Europe or this week’s likely weak employment report here in the United States. The nerves have everything to do with the fallout from the Libor-manipulation story that has been centered on Barclays but likely encompasses every major bank in the global markets.

US minis face $2 TRILLION in unfunded pension costs ~ link ~ Small thing...just a couple of trillion!!! We are so totally screwed in this county and this world by what the global banksters and their political whores have done to us!  Time to 'get some rope' for a 'good old fashioned neck tie party'.  Stirling       

U.S. states and localities have run up more than $2 trillion of unfunded pension liabilities, Moody's Investors Service said on Monday, citing data on plans offered by 8,500 local governments and over 14,000 individual entities.

The Wall Street credit agency said that according to its estimate, the total liabilities for fiscal 2010 were more than three times the amount reported by local governments.
"Pension liabilities are widely acknowledged to be understated," Moody's Managing Director Timothy Blake said in a statement. Most states end their fiscal years on June 30.

10 Explosive bubbles that will kill capitalism ~ link ~ The New World Order is not about capitalism...it is about a satanic high-tech brutal slave state where a tiny handful of evil jerks own/control everything and everyone.   Of course, this is NOT going to happen as the Third World War will actually be Armageddon and the Return of Christ WILL CHANGE EVERYTHING!   Stirling      

Get it? Capitalism is committing suicide and destroying America too. Here are 10 explosive bubbles that warn of this trend’s accelerating trajectory:

The Path to $10,000 per ounce gold ~ link ~ There’s a plausible path to $10,000 an ounce gold. And it doesn’t require a breakdown in civil society…

Speculators see central bankers as modern-day superheroes, able to push markets around with a single phrase. In the minds of most investors, Ben Bernanke, Mario Draghi and Masaaki Shirakawa might as well be wearing tights, masks and capes. These superhero central bankers continuously swoop down into the financial markets to defend them from downticks…and to insure that they always deliver capital gains. The reality, of course, is that these superheroes are frauds. They have no superpowers…other than the power of mass delusion. The powers of Mario Draghi and the other central bankers in Europe are waning. Excess debt is like kryptonite: Each new wave of printing has less impact on markets. As the popular phrase goes: “This is a solvency problem, not a liquidity problem.”

Food prices could skyrocket as US harvest continues to wilt in blistering heat and drought ~ link Yesterday evening I took a drive, with some friends, into the countryside.   I saw for myself what my farmer friends had told me.  The corn crop is just about gone here in the Cornbelt!  In my 61 years I have seen droughts and bad looking corn crops but this is the worst I have ever seen.  The corn is maybe four foot tall and tasseled out...there are little or no actual corn kernels.  The soybeans are in bad shape but not as bad.  It appears that much of the corn crop will be cut down and used a silage as the corn yield will be mostly non-existent!  This will mean not only much higher food prices, especially as the Argentina and Brazil corn crops were not at all good (they are now in their winter), but starvation in many poor nations.  Of course, World War III could kill so many people off that there could even be a surplus!  Stirling        

Chicago corn price jumps by 3% to highest since last autumn as maize, soybean and wheat yields also suffer due to drought

Fears that food prices will rocket at the end of the year after a poor US harvest were heightened after predictions that a drought across the Midwest will to continue for at least another week. Maize yields are suffering after a long drought that hurt the crop in its crucial pollination phase, experts said, as the price of Chicago new-crop corn jumped more than 3% to its highest since last autumn.

Brutal heat wave ~ link 

12 Incredible Obamacare Quotes that show that our wretched Healthcare System is headed directly into the toilet ~ link ~ You might as well stick a fork in the U.S. healthcare system because it is finished.  Even before Obamacare, Americans paid far more for healthcare than anyone else in the world.  Now thanks to Obamacare we will be faced with much higher health insurance premiums, much higher taxes, much longer waits to see doctors and more government bureaucrats involved in our lives than ever before.  As I have written about previously, the U.S. healthcare industry is a horrible mess, and now Obamacare is going to take the entire system directly into the toilet.  All over America today, families are going broke because of outrageous health insurance costs and suffocating medical debt, doctors are going broke and leaving the profession because they can't make a living, and sick people are dying because they cannot get the care that they need.  So what solution does Obama give us?  A nearly 3,000 page monstrosity that will destroy what is left of our crumbling healthcare system and that will unleash 16,000 new IRS agents to hunt down the millions of Americans that do not currently have health insurance.  For those that love Big Brother socialist totalitarianism, Obamacare is a dream come true.  For the rest of us it is a total nightmare.

Obamacare is truly a Trojan horse.  The millions of Americans that support Obamacare believe that they have been "given" something.  But that is a lie.
All of us aren't going to be getting free government healthcare as a result of this law.

Instead, we are all being forced to buy health insurance policies that many Americans do not even want from deeply corrupt health insurance companies that make more money when they provide less healthcare.  If we don't buy government-mandated health insurance the IRS will be coming after us.  This reality was beautifully communicated by this cartoon that was posted on Facebook recently.

They are turning our crops, animals and even our babies into freakish genetic monsters - What could go wrong? ~ link ~ The greatest environmental threat that we are facing is genetic modification.  All over the globe, scientists are treating the fabric of life as if it was a playground where anything goes.  Behind closed doors, scientists all over the planet are creating some of the most freakish and most bizarre monsters that you could possible imagine, and very few people seem concerned about it.  But the truth is that messing with the building blocks of life is going to have some very serious consequences.  Scientists claim that they are making our crops stronger, more productive and less vulnerable to insects.  Scientists claim that they can alter our animals so that they are more "useful" to us.  Scientists claim that genetic modification is only going to "enhance" humanity.  But what if something goes seriously wrong?  For example, what if we learn that eating genetically modified food is really, really bad for us?  Well, at this point more than 70 percent of the processed foods sold in the United States contain at least one ingredient that has been genetically modified.  It would be kind of hard to go back now.  We have rushed ahead and have created hordes of freakish genetic monsters without ever seriously considering the consequences.  Someday, future generations may look back on us and wonder how we could have ever been so incredibly foolish.

We were promised that genetically modified crops would enable us to feed the world.  Well, the world is still starving, but we sure have seen super weeds, super pests and super diseases all develop as a result of genetic modification.
A recent article by George Dvorsky discussed how bollworms in China are now becoming resistant to the toxins grown inside Bt cotton....

Arrest Eric Holder ~ link ~ YES! 
The House has voted overwhelmingly to hold Eric Holder in contempt of Congress for withholding documents on the Fast and Furious scandal, but where do we go from here?  Not surprisingly, the Justice Department won’t prosecute Holder on the charge, and Barack Obama would only take action if the attorney general became a personal liability (and right now cutting him loose might be a liability).  Yet there is a way for Congress to put bite in its bark.

It turns out that the House could encourage immediate cooperation by arresting Holder.  Such a move would be based upon something called “inherent contempt,” a process that, writes The Washington Times, “is well-established by precedent, has been confirmed by multiple Supreme Court rulings, and is available to any Congress willing to force such a confrontation.”  It was also recently alluded to by none other than Nancy Pelosi when she addressed what she considered Karl Rove’s contempt of Congress and said, “I could have arrested Karl Rove on any given day.  I’m not kidding.  There’s a prison here in the Capitol….  If we had spotted him in the Capitol, we could have arrested him.”
Sheriff Arpaio set to unleash "Shocking" Obama Birth Certificate revelations - with video ~ link ~ This sheriff had better keep LOTS of well armed deputies around him 24/7!  Check out the video...good one!   Stirling     

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