Wednesday, February 18, 2015

PROPHECY UPDATE WATCHING FOR THE SIGNS OF THE COMING CHRIST Wednesday, February 18, 2015


Wednesday, February 18, 2015


Wars And Rumors Of War: Iran Accelerating Nuclear Progress, ISIS Targeting Europe While 'Painting The Middle East Red With The Blood Of Christians'





Iran Says Accelerating Nuclear Progress


Iranian President Hassan Rouhani on Tuesday said the Islamic republic was speeding up its nuclear program, adding that Tehran doesn’t ask for permission from any other country to pursue technological advancement.

According to a report by the semi-official Fars news agency, Rouhani said Iran has made “highly important progress in the nuclear field,” but that such advancements have been eclipsed by the ongoing nuclear negotiations with world powers.

“We don’t and will not take permission from anyone to make progress in science and knowledge,” the president said, adding, perhaps in a veiled reference to Israel’s objection to what it considers Iran’s drive to develop nuclear weapons, that Tehran would continue to prove its enemies’ claims false.

Iran and world powers have until a March 31 deadline to reach a political agreement on Tehran’s controversial nuclear program, which the Islamic republic insists is peaceful but which other countries, including the United States and Israel, are concerned is aimed at building a bomb.






“You get what you pay for ” – an old proverb goes. These days the West is beginning to reap the fruits of its own policies of creating “color” revolutions including on the very edge of its borders. On February 15 ISIL has opened a “second front” in the Arab World – heading this time to the west, in the Arab Maghreb. Apparently, the fruitless efforts of the Western-Arabian coalition to fight ISIL in Iraq and Syria made these radical Islamists confident enough to bring the front lines closer to Europe.

The execution of 20 Egyptians in Libya, followed by a quick response from the Egyptian Air Force, has clearly displayed ISIL’s intentions of taking Libya over. Should they succeed, they would only need to cover some 200 miles to reach the Italian coast. And if ISIL militants manage to get their hands on some short-range ballistic missiles, they would be able to start shelling coastal Italian cities. It wouldn’t be a challenge to infiltrate the Italian coastline as well, carrying out terrorist attacks on Italian soil. This scenario could be called too pessimistic, if ISIL hadn’t carried out attacks in France and Denmark already.

For the first time, ISIL members emerged on Libyan soil in October 2014, announcing the creation of an an “Islamic emirate” in eastern Libya. Militants loyal to the Islamic State of Iraq and Syria are now in full control of Derna, a town whose population is close to 100 thousand people. This town is near the Egyptian border and is only 300 miles away from the southern shores of the European Union. 


At first, those militants were insignificant in numbers, but then they were joined by local radical Islamists, and it didn’t take them long to establish control over many areas in eastern Libya – from the Egyptian border to Benghazi. Unprovoked violence, slaughter and looting have become the day-to-day reality for the Libyan people. The terrorists took full advantage of the political chaos that had been created by the overthrow Muammar Gaddafi – the former leader of Libya that fell due to NATO-GCC military aggression. A report published on February 17 states that those Islamists have already taken the city of Sirte and now they are advancing on Tripoli


After the violent execution of 20 Coptic Egyptians, Cairo was quick to realize what danger was approaching its western borders. Egyptian security agencies have been fighting an exhausting battle with a terrorist group called Ansar Bayt al-Maqdis in the North Sinai for the last few months. Western attempts to put an end to ISIL in Syria and Iraq have proved this time and time again. Should Libyan Islamists invade Egypt, then they will inevitably be supported by the suppressed followers of “the Muslim Brotherhood” movement, that still has the approval nearly half of Egypt’s population. 

Libyan jihadists have finally managed to shock European politicians by uploading a video where they executed Christians and voiced threats of “capturing Rome,” that is only 500 nautical miles away from territory under the control of ISIL militants.


Islamist have truly stricken terror into the hearts of those dwelling in Rome. Italian Prime Minister Matteo Renzi called on the UN to establish control in Libya, noting that Europe must “stop sleeping” while jihadist groups continue to thrive near Europe’s borders. Italy’s Minster of Defense Roberta Pinotti told a local newspaper Messaggero that Italy is willing to head the assault of thousands of European and North African coalition troops in the war against jihadists. She stated that Italy had already sent as many as 5,000 troops to participate in UN operations in Afghanistan, while Libya is much closer to the EU borders, therefore there can be no more delay since the threat the EU faces today is imminent. She underlined that the interests of Italy cannot tolerate the existence of a caliphate near its borders

It is only logical to wonder why the jihadists are trying to provoke Egypt and Italy to wage war on them? Experts believe that their goal – is to draw the world’s attention to the fact that ISIL has opened a “second front” in Libya in order to rally as many supporters from North Africa and Egypt under its black banner, as they possibly can.






ITALY have tonight agreed plans to put almost 5,000 soldiers on the streets amid fears of potential attacks from Islamic State (IS) militants.

The troops will guard sensitive sites and targets, including in Rome where around 500 members of the military will be deployed.
In the Italian capital the soldiers will help guard Jewish schools, the city's synagogue and diplomatic residences.
The measures, announced after a meeting of military and security officials, will be implemented until at least June.
Authorities consider Rome particularly sensitive because it is home to the Vatican.
In the past, Islamic militant websites have posted vague threats against Pope Francis and the Roman Catholic Church.
The news comes amid rising fears of attacks by Islamic extremists in Italy after . 
The atrocity, shown in a gruesome video released on Sunday, happened on the Libyan shore of the Mediterranean Sea which is a short boat ride from Italy.
Entitled "A Message Signed With Blood To The Nation Of The Cross", the IS video shows Coptic Christians handcuffed and dressed in orange jumpsuits.
In the sickening five-minute clip their blood can later be seen filling the waters of the Mediterranean Sea.

Pope Francis called those who died in the propaganda film "martyrs". 
Speaking today, he said: "Their only words were: 'Jesus, help me!' They were killed simply for the fact that they were Christians.
"The blood of our Christian brothers and sisters is a testimony which cries out to be heard. 
"It makes no difference whether they be Catholics, Orthodox, Copts or Protestants. They are Christians."
There is rising in concern in Italy about IS establishing a presence on the shores of the Mediterranean just a few hundred miles from them.
Authorities fear that terrorists could covertly try to sneak into Italy with the thousands of migrants who are making their way across the Mediterranean. 
Prior to the latest IS video emerging, Italy’s defense minister Roberta Pinotti told the Il Messaggero newspaper: "The risk is imminent. 
"We cannot wait any longer. Italy has national-defence needs and cannot have a caliphate ruling across the shores from us."





Egypt, now at the forefront of fighting ISIS, is warning it has intelligence revealing the global jihadist group is planning a worldwide offensive this spring or summer that could reach targets within the United States.
Interrogations of ISIS members captured in recent weeks in the Egyptian Sinai Peninsula Egyptian and information collected by Egyptian security forces indicate ISIS is planning ground offensives this spring and summer aimed at taking over more territory across the Middle Eastern and Persian Gulf, a senior Egyptian intelligence official told WND.
Some of the information indicates the new offensive will not be limited to the Arab world. Timed to coincide with its planned surge, ISIS is plotting possible attacks using cells abroad.

ISIS and its jihadist allies could activate cells to carry attacks in Europe and possibly within the U.S., the senior Egyptian official warned.
The official advocated the deployment of significant ground troops acting on multiple fronts to stop ISIS’ progression. He complained the Obama administration and international community has been hesitant to take major action against ISIS advances.






Every day now, there are fresh news stories about Christians being slaughtered by ISIS in the Middle East.  So where is the outrage from the White House?  Where is the outrage from the Islamic world?  If Islam truly was a “religion of peace”, prominent Islamic leaders all over the globe would be loudly condemning ISIS whenever another slaughter of Christians took place.  And a White House statement about the beheading of 21 Egyptian Coptic Christians by ISIS the other day did not have the word “Christian” in it a single time.  ISIS is painting the Middle East red with the blood of Christians, and most of the world seems to care very, very little.  If thousands of people from some politically-favored group or religion were being savagely killed, the outcry would be deafening.  But because Christians are being killed, it is not such a big deal.  So exactly what does that say about how the world views Christians in 2015?

Without a doubt, Christians are being specifically targeted by ISIS.  They are simply not going to submit to the Islamic rules and belief system that ISIS intends to impose on the areas that it conquers, so they are considered to be a “problem” that needs to be dealt with.

When 21 Coptic Christians were beheaded by ISIS jihadists in Libya, it shocked Christians all over the world.  Those that released this video entitled it “A Message Signed With Blood to the Nation of the Cross”.  Clearly, it was intended to strike fear in the hearts of Christian believers all over the planet.  But the White House reaction did not contain the words “Christian”, “Islam” or “Muslim” a single time…

Video surfaced on Sunday showing Libyan ISIS sympathizers decapitating 21 Christians on a beach. White House Press Secretary Josh Earnest issued a 192-word reaction condemning the brutal killings as ‘despicable’ and ‘cowardly’ but made no mention of the religion of the killers or their victims.
The words ‘Christian,’ ‘Islam’ and ‘Muslim.’ were not included in Earnest’s statement.
The video itself was titled ‘A Message Signed With Blood to the Nation of the Cross.’ The slaughtered men, clad in orange jumpsuits reminiscent of Guantanamo Bay detainee garb, were described as ‘crusaders.’
One of the men was seen praying just moments before his throat was slit.

When it comes to dealing with ISIS, the Obama administration truly is utterly clueless.
Those fighting for ISIS are very clear about what they are trying to do.  They consider this to be a religious war, and they fully intend “to conquer Rome”…

So what would have happened if things would have been switched around?
What would have happened if Christians had publicly beheaded 21 Muslims just because they believed in Islam?
That is a question that Franklin Graham asked recently…
The Islamic State beheaded 21 Egyptian Christians over the weekend, propping the severed heads on the victims’ backs, a barbaric slaughter that led Reverend Franklin Graham to ask, “Can you imagine the outcry if 21 Muslims had been beheaded by Christians?”
“Where is the universal condemnation by Muslim leaders around the world?” he asked.

And without a doubt, the global response would have been overwhelming.  There would have been huge protests in cities all over the globe and the outrage would have lasted for months.
But when Christians are killed, the uproar doesn’t last for long.  So in a desperate attempt to keep their names in the news, ISIS jihadists in Libya have reportedly rounded up another 35 Christians…
Are we about to witness another mass beheading?
Let’s pray that does not happen.
Sadly, this might just be the beginning.
ISIS continues to get stronger in Iraq.
ISIS continues to get stronger in Syria.  In fact, the amount of territory that ISIS controls in Syria has doubled since U.S. airstrikes began.
And ISIS is making great strides in Libya.  At this point, ISIS controls most of the coastal cities, and propaganda videos are being made to show that they are in total control of the streets…






Kiev troops surrounded in the city of Debalstevo have started to surrender en masse, Ukrainian rebels have said. President Poroshenko announced a complete withdrawal from the contested city.
Ukrainian President Petro Poroshenko confirmed in a video statement that he has given an order to withdraw troops from Debaltsevo on Wednesdsay.
“We stated and proved that Debaltsevo was under our control and that there was no encirclement. Our units withdrew according to plan in an organized manner. They took military hardware with them – tanks, APCs, artillery pieces, tow-tracks, cars,” the president said.
He added that some 80 percent of the troops have already left the city.
Reuters cited a witness who saw the troops, some of them injured, arriving in Artemyevsk, a city northwest of Debaltsevo, through which a road leading to Kiev-controlled areas goes.
Earlier Semen Semenchenko, MP and commander of one of Kiev’s volunteer battalions, reported that the troops were being withdrawn from the contested city. He added that Kiev should now attack in other parts of the frontline, which had been weakened by the rebels to lay siege on Debaltsevo.
“They are empty and we have troops. One strike and the frontline would crumble,” he assured, adding that withdrawal is “beyond comprehension.”
Meanwhile Maksim Leshchenko, a senior official in the self-proclaimed Donetsk People’s Republic, told journalists on Wednesday that the Ukrainian troops are laying down their arms “in their hundreds.”
Earlier on Tuesday, Eduard Basurin, a military spokesperson for the rebels, confirmed taking some 300 soldiers prisoner.
Debaltsevo was Kiev’s stronghold deep inside the rebel-held territories in eastern Ukraine, a military asset portrayed in the media as a site of a heroic last stand of the Ukrainian military. The rebels said they had some 3,000 troops encircled in a pocket and had been calling on them for days to lay down their arms and surrender. Kiev rejected the claims, insisting that Debalstevo supply lines were intact and that the city would remain under their control.


RIA Novosti confirmed the pullout, saying that its correspondent witnessed withdrawal of Grad multiple rocket launchers and tanks from the disengagement line.
On Tuesday, Russian President Vladimir Putin called on Kiev and the rebels to do whatever they can to resolve the issue without loss of life.
“I really hope that the decision-makers in the Ukrainian leadership won’t prevent the Ukrainian troops from laying down arms, if they cannot take such an important decision themselves and order it. Or at least they shouldn’t harass people who want to save their lives,” he said.
“On the other hand, I expect the militias not to detain those people and allow them to leave the conflict zone and go back to their families,” he added.







Last week, German equities soared to record highs with the Dax surpassing 11K, not only on the imminent arrival of the ECB's Q€ which provides a risk-less bid to all asset classes, but on news that a second Ukraine ceasefire had been achieved in Minsk. Well, just like the first Minsk "ceasefire" in September, one can promptly forget the just as "successful" second one, because overnight, after a several week siege, the Ukraine town of Debaltseve finally fell to rebel forces with "troops of Ukraine’s Armed Forces laying down arms en masse,” according to Donetsk rebel official Maxim Leschenko says, cited by Tass news service.

According to Reuters government forces started pulling out of the east Ukraine town on Wednesday after a fierce assault by the rebel separatists which Europe said violated a crumbling ceasefire. President Petro Poroshenko said before flying to the town of Debaltseve that more than 80 percent of his troops in the rail hub had already left following a heavy bombardment and street-by-street fighting despite the truce that took effect on Sunday.
As previously reported, according to the pro-separatists rebels the ceasefire does not apply to Debaltseve, which links the two rebel-controlled regions of eastern Ukraine, Donetsk and Luhansk.







[This video is worth watching - it's like a breath of fresh (honest) air in an world otherwise full of lies and distortions]






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Tuesday, February 17, 2015


Ukraine 'Truce' Fails, Debaltseve Situation Deteriorating. Putin Says U.S. Already Supplying Arms To Ukraine





Ukraine 'Truce' Fails: Withdrawal Deadline Passes, Debaltseve Situation Deteriorating


As the game of chicken between Greece and the Eurogroup hots up, it appears another - potentially far more deadly - is escalating in Ukraine as neither side is willing to follow through on the terms of the Minsk Summit peace deal - removing heavy weaponry from the frontlines - as a key deadline passes without agreement. 
As The Guardian reports, The Ukrainian military have stated that "as soon as the militants cease fire, the Ukrainian side will begin to withdraw heavy weaponry from the frontline," and the pro-Russian separatists proclaim, "We do not have the right [to stop fighting for Debaltseve]," adding that as far as the truce, "we have everything ready for a mutual withdrawal. We will not do anything unilaterally – that would make our soldiers targets."
As The Guardian reports, and Interfax confirms, the situation in Debaltseve is deteriorating...

Kiev on Tuesday reported artillery strikes overnight around the key transportation hub of Debaltseve while the situation in the rest of the conflict zone appeared to be calm.

An Associated Press reporter heard sustained shelling around Debaltseve – where government troops are encircled – on Tuesday morning, some coming from Grad rocket launchers.

A senior rebel representative told Reuters that the separatists cannot “morally” stop fighting for control of the town.

Denis Pushilin also said rebels could not withdraw heavy weaponry, as set out in the deal, unless Ukrainian forces did so as well.

“We do not have the right [to stop fighting for Debaltseve]. It’s even a moral thing. It’s internal territory,” Pushilin said in the rebel stronghold of Donetsk.

“We have to respond to fire, to work on destroying the enemy’s fighting positions.”

Asked about plans to carry out the agreement to withdraw big guns, he said: “We are ready at any time, we have everything ready for a mutual withdrawal. We will not do anything unilaterally – that would make our soldiers targets.”

 As AP reports, Russia-backed rebels in eastern Ukraine claimed Tuesday to have taken the key transportation hub of Debaltseve as both parties faced a deadline to start pulling back heavy weapons from the front line.


Fierce fighting on Tuesday appeared to be focused on Debaltseve, a government-held town surrounded by rebel forces that both sides claim to be on their side of the cease-fire line. The issue was not resolved under a cease-fire agreement negotiated last week by the leaders of Ukraine, Russia, Germany and France.

Separatist leaders said in remarks carried by the rebel mouthpiece Donetsk News Agency on Tuesday afternoon that their forces have pushed the Ukrainian army out of Debaltseve, gaining control over most of the town.



'Optimistic' Putin Says U.S. Already Supplying Arms To Ukraine


Vladimir Putin says he is "more optimist than pessimist" on Ukraine, but warns that there will be "no end to war if Kiev believes in a military solution." Noting that he believes there has been an "overall decrease" in military activity, he notes that Debaltseve was "possible to forecast," and then proclaims:
  • *PUTIN SAYS U.S. ARMS ALREADY BEING SUPPLIED TO UKRAINE
Of course, we already have "YouTube" proof of American military presence in Ukraine (which for Washington would have been good enough to wage war) but Putin offers no specific proof and adds rather pointedly that "most Ukraine troops want no part of fractricidal war."
  • *PUTIN SAYS DEBALTSEVE STANDOFF WAS POSSIBLE TO FORECAST
And here's why - because Debaltseve is really just a front guard staging point:


Russian President Vladimir Putin calls upon Ukrainian soldiers encircled in the eastern city of Debaltseve to surrender.

"I expect that those responsible in the Ukrainian leadership won't hinder the soldiers to lay down their arms," Putin says in Budapest.

He adds that he hopes that the separatists surrounding them will let the soldiers return home and not take them prisoner.
And finally:
  • *PUTIN SAYS U.S. ARMS ALREADY BEING SUPPLIED TO UKRAINE



Christian Slaughter In Libya
The disputed fate of the 21 Coptic Christians abducted in Sirte, Libya, is now clear and visible for all to see on video: while holding them down, Islamic State members shove their fingers in the Christians’ eyes, crane their heads back, and slice away at their throats with knives—all in the name of Allah and Islam, all as the slaughtered call out on the “Lord Jesus Christ.”

 In the video, the lead executioner waves his dagger at the camera while boasting of the Islamic State’s savagery: “Oh people, recently you have seen us on the hills of as-Sham and Dabiq’s plain [Syrian regions], chopping off the heads that have been carrying the cross for a long time.  And today, we are on the south of Rome, on the land of Islam, Libya, sending another message.”

 Far from being satisfied with the slaughter of these 21 Christians, the Islamic State is calling on Muslims to find and slaughter more Coptic Christians. (Copts make for the majority of Christians in Libya, having migrated there from neighboring Egypt to find work during the Gaddafi years; most of them are desperate to return but need aid from the Egyptian government to cross the Libyan desert.)
In its online English magazine Dabiq, after justifying the slaughter of the 21, the Islamic State concludes by asserting that “it is important for Muslims everywhere to know that there is no doubt in the great reward to be found on Judgment Day for those who spill the blood of these Coptic crusaders wherever they may be found.”
And indeed, spilling Coptic Christian blood in Libya—and being rewarded for it—has been ongoing for some time now.  The fact is that this most recent beheading, which received a decent amount of media attention, is only the latest in a long line of Muslim persecution of Christians in Libya.
A few days before the 21 Christians were abducted (in two separate incidents), a Christian father, mother, and young daughter were slaughtered in the same region, Sirte.  On December 23, Islamic militants raided the Christian household, killing the father and mother, a doctor and a pharmacist, respectively, and kidnapping 13-year-old Katherine.  Days later, the girl’s body was found in the Libyan desert—shot three times, twice in the head, once in the back (graphic images here).
Nothing was stolen from the household, even though money and jewelry were out in the open.  According to the girl’s uncle, the motive was that “they are a Christian family—persecuted.”

As previously mentioned, Muslim slaughter of Christians is the litmus test of how “radical” an Islamic society has become.  In every single Mideast nation that the U.S. and its Western allies have interfered—Iraq, Egypt (under Morsi), Libya, and ongoing Syria—the slaughter of Christians there is a reflection of the empowerment of forces hostile to everything Western civilization once stood for.
It also means that the barbarous Islamic State—far from waning and being limited to portions of Iraq and Syria—is growing stronger, now well entrenched in Libya too.



Information About The U.S.-Iranian Nuclear Dialogue Is No Longer 'Sensitive' - It's A Done Deal

Some US and Israeli media have reported that the Obama administration reduced the exchange with Israel of sensitive information about its nuclear negotiations with Iran - because Binyamin Netanyahu has leaked “details of the US position to the media.”
This is a skewed account of the situation. The fact is that US President Barack Obama and Iran’s President Hassan Rouhani have agreed on the final draft of a comprehensive nuclear accord. Its terms are therefore an open secret. The deal would be in the bag if Iran’s paramount leader Ayatollah Ali Khamenei could be brought round to endorsing it.

 For now, Washington and Tehran are using media spin tactics in an effort to persuade him. Those tactics were dismissed as “unprofessional media games,” by Iranian Foreign Minister spokeswoman Marzieh Afkham Sunday, Feb. 15, when she denied a Wall Street Journal report that Khamenei had answered a letter from the US president.

 "There has been no new letter from Iran's side," she asserted in reference to a letter from Obama to Khamenei last October which, according to the US press, suggested cooperation with Iran in fighting the Islamic State.


No reference was made to the nuclear issue in her remarks. The Iranian leader preserves a sphinx-like silence, which has nothing to do with Binyamin Netanyahu, but does in fact refute Obama’s propaganda game that pins the blame on the Israeli prime minister.

 For five years, Obama ran a back-channel dialogue with Iran. Then too he kept its content secret not just from Israel but from other closely affected allies, Saudi Arabia and certain Gulf emirates. Israel at times offered Washington relevant intelligence on Iran, but was rebuffed.

 The Israeli opposition campaigning against Netanyahu and his Likud party for the March 17 election has seized on this dispute to accuse him of jeopardizing the country’s strong ties of friendship with the United States - when in fact it is a one-on-one brawl with the US president.
Only last week, Washington had to admit that US intelligence had been taken by surprise by the fall of the pro-American regime in Yemen and Sanaa’s takeover by the Iranian-backed rebel Houthis. While reluctant to admit as much, the administration was deeply disappointed by this act of deceit by Tehran, on which the White House counts heavily for military and intelligence cooperation as a trusted ally in the future war against the Islamic State.
Out of Obama’s intelligence loop on Iran, Israel may be equally reluctant to share its intelligence data on Yemen or even on the situation in Syria and Iraq.
Israel’s Netanyahu is not the only Middle East stand-out against Obama’s Iranian policy. Other leaders are in even worse relations with Washington. The Obama administration and Egyptian President Abdel-Fatteh El-Sisi are not even on talking terms, much like the late Saudi monarch Abdullah who died last month. His successor, King Salman has yet to make his intentions towards the United States known.



Also see:

Will Syriza Become The Saviour Of The EU?

Is America Still On F.A. Hayek's Road To Serfdom?

Drone War Death Count Surpasses Spanish Inquisition

Washington 'Real Danger' Of Cyber Warfare, Not China North Korea - Wikileaks

More Hipster Harf: 'We Can't Stop ISIS By Killing Them, We Need To Give Them Jobs'



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The EU, Greece And The Ramifications To The Global Financial System





First of all, we see a defiant Greece who refuses to "play ball" with the EU. This developing story is fascinating on many levels, but particularly with regard to the future of the EU and the world economy.

Remember, "Big Crisis = Big Change" as we await the formation of the 10 Kings and the arrival of the AC:






The rhetoric from both sides in Europe is hotting up but we suggest Tsipras' comments seem far more personal and existential than the Eurogroup's beligerence for now:
  • *TSIPRAS: GREEK DEMOCRACY CAN'T BE THREATENED
  • *TSIPRAS: GREEK GOVT NOT IN A HURRY, WON'T COMPROMISE
  • *TSIPRAS: GREECE WON'T TAKE A STEP BACK FROM PROMISES TO PEOPLE
With a "strong mandate" to save the country, Tsipras adds that he wants "a solution, not rupture."
Additionally, he noted:
  • *TSIPRAS: GREECE HASN'T OVERCOME ITS FINANCIAL PROBLEMS
  • *TSIPRAS: GREEKS NOW FEEL PROUD, WORTHY
  • *TSIPRAS: GREECE CAN'T BE TREATED AS A COLONY
  • *TSIPRAS: GREECE CAN'T BE TREATED AS EUROPE'S PARIAH
  • *TSIPRAS: GREECE WILL MANAGE TO EXIT ITS DEBT TRAP
  • *TSIPRAS: GREEK, EUROPEAN PEOPLE SUPPORT GOVT'S RED LINES
  • *TSIPRAS: GOVT HAS STRONG MANDATE TO SAVE COUNTRY, PEOPLE
  • *TSIPRAS: GREEK GOVT NOT IN A HURRY, WON'T COMPROMISE
  • *TSIPRAS: GREEK GOVT WILL UPHOLD ITS ELECTION PLEDGES
  • *TSIPRAS: GREECE WON'T TAKE A STEP BACK FROM PROMISES TO PEOPLE
  • *TSIPRAS: GREECE WANTS SOLUTION NOT RUPTURE









The negotiations between Greece and the EU over their impossible-to-pay debt load and the austerity that was imposed on the Greek people, will either force the Greeks to maintain austerity, in exchange for more financial aid, or for Greece to default on the debt and exit the Euro.

A Greek default could very well trigger the end of the European banking system and the Euro. Such an event will reverberate throughout the world, perhaps bringing the entire global financial system down. But even if there is not a cataclysmic global reverberation, Greece is sure to suffer hyperinflation and other unpleasant consequences. 
Unless fundamental, long-term reforms are put in place, the kind that eventually lead to the end to austerity, higher employment and rising wages, even more people will become disillusioned as the Greeks experience social deterioration similar to that of Weimar Germany.
The tragedy is that the formula for emerging to a better place is there for the taking. One can look at the early 20’s in the United States following World War I and the reforms in the early 1980’s that turned a very desperate economic situation into a huge rebound in both output and employment as well as an eventual drastic reduction in the inflation and interest rates.

We will soon know what path Europe and Greece will choose. The markets and the bank deposit holders seem to be betting that the ECB will blink and Greece will get the debt extension and more money. If that turns out not to be the case, there will be panic. This kind of panic would create enormous chaos in the global financial system.

For those believing the lies of the central planners and the mainstream media, those beliefs are beginning to be exposed for a much wider audience. The recent example Brian Williams in the news category and the continuing deterioration in the economic statistics are making more people realize that what has been reported is not the truth.
The central planners have been “putting lipstick on the economic and financial pig” for far too long. While there are economic success stories out there for both regions and specific companies, the macroeconomic picture is a disaster in the making. The message to be taken from the sustained and increasing volatility is that the central planners' ability to kick the can down the road is soon coming to an end. Just how much upheaval will occur in global markets remains to be seen, but based on past history, the world is headed toward extreme chaos that will create terrifying swings in major markets.





With talks between the EU and Greece reaching the boiling point, the former White House Budget Director warned that the Greek crisis is now a threat to the entire global financial system.
Former White House Budget Director, David Stockman:  “The Greeks owe something like $350 billion.  $60 billion of it is owned by Greek banks.  The rest of it is (owned by) the EU — $210 billion — and another $30 or $40 billion by the IMF.

So the issue in the short-run is the taxpayers in all the countries of the EU…because the debt has been transferred from the banking system — that’s what all these bailouts were about — to the taxpayers of the EU.

That’s why there is so much desperation and so much tension in these negotiations.  The Germans could afford to take the $47 billion hit that is guaranteed by Germany.  But the Germans are afraid that if losses are triggered, in other words Greece is permitted to default, then the next two countries in line are France and Italy.
Their (French and Italian) governments simply will not survive a capital call.  They will be forced into an election — I call it a run on the parliaments — and they will get radical, populist, anti-EU governments and the whole thing will come unraveled.

So this rigidity and stubbornness of the Germans is understandable because they walked themselves into a giant trap.  They should have allowed the write-offs to occur and for Greece to go bankrupt and leave the EU two or three years ago.  They should have forced their banks to take the losses — it wouldn’t have put Deutsche Bank under for crying out loud.

But now by socializing (roughly) $300 billion worth of Greek obligations, they have moved the whole issue to the political arena.  And that’s the ticking time-bomb that is an existential threat to the continuance of the EU.

Now think about the global financial system and how fragile it is — the European economic union and currency experiment — and right in the center of it is a ticking time-bomb that’s about ready to blow.  I think if people needed any warning that there is massive danger ahead, just think about what’s happening hour-by-hour, day-by-day in this Greek drama in Europe.” 




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