11 January 2012
SilverDoctors: Jim Willie: The US Dollar Paper Tiger
SilverDoctors: Jim Willie: The US Dollar Paper Tiger: SilverDoctors will now be publishing the full public Hat Trick Letters from Jim Willie. The US Dollar Paper Tiger *The USDollar is kept ...
US-Backed Terror Group Responsible For Assassination of Iranian Nuclear Scientist
Support for terrorist organization part of covert war to topple Iranian regime
Paul Joseph Watson
Infowars.com
Wednesday, January 11, 2012
The US-backed terrorist group Mujahedeen-e Khalq (MEK), in association with Israeli intelligence agency Mossad, was responsible for today’s car bomb attack in Tehran which killed Iranian nuclear scientist Mostafa Ahmadi Roshan, according to Israeli sources close to Jewish writer Richard Silverstein.
The scientist, a specialist working at the country’s Natanz’s uranium enrichment facility, was killed after a magnetic bomb was attached to the side of his car by two men on a motorcycle.
“My own confidential Israeli source confirms today’s murder was the work of the Mossad and MEK, as have been a number of previous operations I’ve reported here,” reports Silverstein.
Paul Joseph Watson
Infowars.com
Wednesday, January 11, 2012
The US-backed terrorist group Mujahedeen-e Khalq (MEK), in association with Israeli intelligence agency Mossad, was responsible for today’s car bomb attack in Tehran which killed Iranian nuclear scientist Mostafa Ahmadi Roshan, according to Israeli sources close to Jewish writer Richard Silverstein.
The scientist, a specialist working at the country’s Natanz’s uranium enrichment facility, was killed after a magnetic bomb was attached to the side of his car by two men on a motorcycle.
“My own confidential Israeli source confirms today’s murder was the work of the Mossad and MEK, as have been a number of previous operations I’ve reported here,” reports Silverstein.
Three Elements of Manipulation
Ted Butler
Finally, Commissioner Bart Chilton of the CFTC gave an interview this week with Jim Puplava that should interest you. http://www.financialsense.com/
A number of subscribers asked me if I would comment on what Commissioner Chilton had to say. In commenting, I can't help but try to be as objective as possible. For the record, I commend Chilton for the role he has taken on the important issues, like position limits, concentration and in addressing allegations of manipulation in silver. He is the only commissioner to have done so. I believe there would be no ongoing silver investigation were it not for him. I think he is one of the good guys and I started writing to him about these issues in 2007 http://www.investmentrarities.com
I agree with most of what Commissioner Chilton had to say, particularly about concentration and position limits and manipulation. I'm glad the interview was mostly about potential manipulation in the silver market. I'm going to skip over all the things I agree with Chilton on and confine my remarks to where I disagree with him. Agreement can be boring. Even though the disagreements are few, I believe they go to the heart of the matter.
Finally, Commissioner Bart Chilton of the CFTC gave an interview this week with Jim Puplava that should interest you. http://www.financialsense.com/
A number of subscribers asked me if I would comment on what Commissioner Chilton had to say. In commenting, I can't help but try to be as objective as possible. For the record, I commend Chilton for the role he has taken on the important issues, like position limits, concentration and in addressing allegations of manipulation in silver. He is the only commissioner to have done so. I believe there would be no ongoing silver investigation were it not for him. I think he is one of the good guys and I started writing to him about these issues in 2007 http://www.investmentrarities.com
I agree with most of what Commissioner Chilton had to say, particularly about concentration and position limits and manipulation. I'm glad the interview was mostly about potential manipulation in the silver market. I'm going to skip over all the things I agree with Chilton on and confine my remarks to where I disagree with him. Agreement can be boring. Even though the disagreements are few, I believe they go to the heart of the matter.
Bomb kills Iranian nuclear expert
ALI AKBAR DAREINI, Associated Press THE ASSOCIATED PRESS STATEMENT OF NEWS VALUES AND PRINCIPLES
TEHRAN, Iran (AP) — Two assailants on a motorcycle attached a magnetic bomb to the car of an Iranian university professor working at a key nuclear facility, killing him and his driver Wednesday, reports said. The slayings suggest a widening covert effort to set back Iran's atomic program.
The attack in Tehran bore a strong resemblance to earlier killings of scientists working on the Iranian nuclear program. It is certain to amplify authorities' claims of clandestine operations by Western powers and their allies to halt Iran's nuclear advances.
The blast killed Mostafa Ahmadi Roshan, a chemistry expert and a director of the Natanz uranium enrichment facility in central Iran, state TV reported. State news agency IRNA said Roshan had "organizational links" to Iran's nuclear agency, which suggests a direct role in key aspects of the program.
Natanz is Iran's main enrichment site, but officials claimed earlier this week that they are expanding some operations to an underground site south of Tehran with more advanced equipment.
The U.S. and its allies are pressuring Iran to halt uranium enrichment, a key element of the nuclear program that the West suspects is aimed at producing atomic weapons. Uranium enriched to low levels can be used as nuclear fuel but at higher levels, it can be used as material for a nuclear warhead.
TEHRAN, Iran (AP) — Two assailants on a motorcycle attached a magnetic bomb to the car of an Iranian university professor working at a key nuclear facility, killing him and his driver Wednesday, reports said. The slayings suggest a widening covert effort to set back Iran's atomic program.
The attack in Tehran bore a strong resemblance to earlier killings of scientists working on the Iranian nuclear program. It is certain to amplify authorities' claims of clandestine operations by Western powers and their allies to halt Iran's nuclear advances.
The blast killed Mostafa Ahmadi Roshan, a chemistry expert and a director of the Natanz uranium enrichment facility in central Iran, state TV reported. State news agency IRNA said Roshan had "organizational links" to Iran's nuclear agency, which suggests a direct role in key aspects of the program.
Natanz is Iran's main enrichment site, but officials claimed earlier this week that they are expanding some operations to an underground site south of Tehran with more advanced equipment.
The U.S. and its allies are pressuring Iran to halt uranium enrichment, a key element of the nuclear program that the West suspects is aimed at producing atomic weapons. Uranium enriched to low levels can be used as nuclear fuel but at higher levels, it can be used as material for a nuclear warhead.
Gold advances/Ted Butler/Greece/Iran/USA now asks to raise debt ceiling officially
Harvey Organ's - The Daily Gold and Silver Report
Gold finished the comex session at $1631.00 for a gain of 23.50 dollars. Silver had a stellar day rising by $1.02 to $29.78. The risk on trade was orchestrated by our elite bankers today as bourses throughout the globe rose. Please be careful if you trade gold and silver against these crooks. There is a lot to cover so first let us head over to the comex and assess trading, inventory movements and delivery notices filed.
The total comex OI (open interest) fell by 3,820 contracts as yesterday we had the orchestrated raid on our precious metals. The new OI rests tonight at 414,044 which I perceive to be in very strong hands. The front options expiry month of January saw its OI fall from 23 to 16 for a loss of 9 contracts. Yesterday we had 10 delivery notices so we gained 1 contract of additional gold oz standing and lost nothing to cash settlements.
The next big delivery month is February and we are 3 weeks away from first day notice. Here the OI fell very noticeably from 215,152 to 203,070. Some rolled and some just quit playing. The estimated volume today at the gold comex was pretty good at 196,924. The confirmed volume yesterday was 165,683 contracts.
The total silver comex OI fell by 1781 contracts from 106,526 to 104,745. We have witnessed that the silver OI has been in this narrow range between 104,000-106,000 for the past month. I would say we are also in strong hands tonight. The front options expiry month of January saw its OI fall from 93 to 57 for a loss of 36 contracts. We had 82 delivery notices yesterday so we again gained 46 contracts or 230,000 oz of additional silver standing and lost nothing to cash settlements. The next big delivery month for silver is March and here the OI fell by less than 1,000 contracts to rest tonight at 56,872. The estimated volume was not bad at 42,308 contracts. The confirmed volume yesterday was quite weak at 33,979.
Inventory Movements and Delivery Notices for Gold: Jan 10 2012:
Gold finished the comex session at $1631.00 for a gain of 23.50 dollars. Silver had a stellar day rising by $1.02 to $29.78. The risk on trade was orchestrated by our elite bankers today as bourses throughout the globe rose. Please be careful if you trade gold and silver against these crooks. There is a lot to cover so first let us head over to the comex and assess trading, inventory movements and delivery notices filed.
The total comex OI (open interest) fell by 3,820 contracts as yesterday we had the orchestrated raid on our precious metals. The new OI rests tonight at 414,044 which I perceive to be in very strong hands. The front options expiry month of January saw its OI fall from 23 to 16 for a loss of 9 contracts. Yesterday we had 10 delivery notices so we gained 1 contract of additional gold oz standing and lost nothing to cash settlements.
The next big delivery month is February and we are 3 weeks away from first day notice. Here the OI fell very noticeably from 215,152 to 203,070. Some rolled and some just quit playing. The estimated volume today at the gold comex was pretty good at 196,924. The confirmed volume yesterday was 165,683 contracts.
The total silver comex OI fell by 1781 contracts from 106,526 to 104,745. We have witnessed that the silver OI has been in this narrow range between 104,000-106,000 for the past month. I would say we are also in strong hands tonight. The front options expiry month of January saw its OI fall from 93 to 57 for a loss of 36 contracts. We had 82 delivery notices yesterday so we again gained 46 contracts or 230,000 oz of additional silver standing and lost nothing to cash settlements. The next big delivery month for silver is March and here the OI fell by less than 1,000 contracts to rest tonight at 56,872. The estimated volume was not bad at 42,308 contracts. The confirmed volume yesterday was quite weak at 33,979.
Inventory Movements and Delivery Notices for Gold: Jan 10 2012:
New FOMC Appointees Express Support for Stimulus
By jturbin
January 11, 2012 11:55 AM EST
Fed Chairman Ben Bernanke is receiving reinforcements in the form of new dovish members of the Federal Open Market Committee (FOMC) this year. And based on recent comments from the new central bankers, gold is likely to one of many beneficiaries of their monetary policies.
John Williams – President of the Federal Reserve Bank of San Francisco – and Sandra Pianalto – President of the Federal Reserve Bank of Cleveland – made their first public speeches as FOMC voting members yesterday. Both Williams and Pianalto expressed support for the slew of acoommodative monetary policies implemented by the U.S. central bank in recent years.
January 11, 2012 11:55 AM EST
Fed Chairman Ben Bernanke is receiving reinforcements in the form of new dovish members of the Federal Open Market Committee (FOMC) this year. And based on recent comments from the new central bankers, gold is likely to one of many beneficiaries of their monetary policies.
John Williams – President of the Federal Reserve Bank of San Francisco – and Sandra Pianalto – President of the Federal Reserve Bank of Cleveland – made their first public speeches as FOMC voting members yesterday. Both Williams and Pianalto expressed support for the slew of acoommodative monetary policies implemented by the U.S. central bank in recent years.
SilverDoctors: Fitch Tells Euro to Speed Up QE
SilverDoctors: Fitch Tells Euro to Speed Up QE: Fitch today told the Euro they better put the pedal on the QE gas or Italy's debt crisis will spiral out of hand, taking down the entire Eur...
SilverDoctors: "Bullish Macro Factors" to Drive Gold in 2012 Rath...
SilverDoctors: "Bullish Macro Factors" to Drive Gold in 2012 Rath...: London Gold Market update from Ben Traynor SPOT MARKET gold prices rose to a one-month high of just under 1647 per ounce Wednesday morning...
Consequences of Collapse: Access to Critical Medicines Is Disappearing in Greece
Mac Slavo
January 11th, 2012
SHTFplan.com
"In the midst of the Greek panic in 2010, for example, as Greece’s meltdown was in full swing and the people scrambled to get out of paper currencies, the price of gold, which was trading for around $1100 an ounce in the global commodity exchange marketplace, soared to over $1700 an ounce on the streets of Greece. In recent months, as Greece implements austerity measures and the unemployment rate sky rockets, its people have lost the ability to engage in traditional commerce because, simply put, they have no tangible income or money to do so. As a result, we’ve begun seeing a barter society emerge all over the country, making it possible for some people to directly exchange labor for consumptive goods and service."
January 11th, 2012
SHTFplan.com
"In the midst of the Greek panic in 2010, for example, as Greece’s meltdown was in full swing and the people scrambled to get out of paper currencies, the price of gold, which was trading for around $1100 an ounce in the global commodity exchange marketplace, soared to over $1700 an ounce on the streets of Greece. In recent months, as Greece implements austerity measures and the unemployment rate sky rockets, its people have lost the ability to engage in traditional commerce because, simply put, they have no tangible income or money to do so. As a result, we’ve begun seeing a barter society emerge all over the country, making it possible for some people to directly exchange labor for consumptive goods and service."
Senior Natanz executive slain in Tehran, US Navy, Air Force on Hormuz readiness
DEBKAfile Special Report January 11, 2012, 12:09 PM (GMT+02:00)
Forty-eight hours after Iran began advanced uranium enrichment in the fortified Fordo bunker near Tehran, Prof. Mostafa Ahmadi-Roshan, deputy director of the first uranium enrichment facility at Natanz, was killed early Wednesday, Jan. 11 by a sticky bomb planted on his car by two motorcyclists. It exploded near the Sharif technological university in northern Tehran.
The pair made their escape. Prof. Ahmadi-Roshan was the fourth Iranian nuclear scientist to be mysteriously assassinated in Tehran in two years. The same method of operation was used in a similar operation last year. Iran has blamed them all on Israel.
Tuesday, President Barack Obama received the Saudi foreign minister Saud al-Faisal. Their conversation was shrouded in secrecy, although no one doubts it focused on the conflict with Iran and the urgency of keeping open the main export outlet for the world's biggest oil suppliers, Saudi Arabia and the Gulf, through the Strait of Hormuz. The crisis in Syria must also have featured in their talks.
Shortly before the Saudi minister's arrival, US Navy and Air Force chiefs shed some light on preparations for an imminent operation to keep the Strait of Hormuz open to international shipping.
Forty-eight hours after Iran began advanced uranium enrichment in the fortified Fordo bunker near Tehran, Prof. Mostafa Ahmadi-Roshan, deputy director of the first uranium enrichment facility at Natanz, was killed early Wednesday, Jan. 11 by a sticky bomb planted on his car by two motorcyclists. It exploded near the Sharif technological university in northern Tehran.
The pair made their escape. Prof. Ahmadi-Roshan was the fourth Iranian nuclear scientist to be mysteriously assassinated in Tehran in two years. The same method of operation was used in a similar operation last year. Iran has blamed them all on Israel.
Tuesday, President Barack Obama received the Saudi foreign minister Saud al-Faisal. Their conversation was shrouded in secrecy, although no one doubts it focused on the conflict with Iran and the urgency of keeping open the main export outlet for the world's biggest oil suppliers, Saudi Arabia and the Gulf, through the Strait of Hormuz. The crisis in Syria must also have featured in their talks.
Shortly before the Saudi minister's arrival, US Navy and Air Force chiefs shed some light on preparations for an imminent operation to keep the Strait of Hormuz open to international shipping.
Goldman, Morgan Stanley both see much higher gold prices this year
Analysts at investment banks, Goldman Sachs and Morgan Stanley, both see gold moving sharply higher in 2012.
Goldman Sachs Group Inc. (GS) is staying “overweight” on commodities as a rebound in demand revives speculation of shortages, with gold a favorite for 2012 as investors seek a hedge against Europe's debt crisis.
Goldman Sachs Group Inc. (GS) is staying “overweight” on commodities as a rebound in demand revives speculation of shortages, with gold a favorite for 2012 as investors seek a hedge against Europe's debt crisis.
Gold rises high as physical demand emerges
Author: By Amanda Cooper (Reuters)
Posted: Wednesday , 11 Jan 2012
Gold's break to a one-month high of $1,646.90/oz has given investors more confidence to buy the metal and evidence of strong demand from major consuming nations further supported the market.
LONDON (Reuters) -
Gold rallied for a second day on Wednesday, hitting its highest in a month after a stronger euro helped boost the price above a key technical level and evidence of strong demand from major consuming nations further supported the market.
Gold has risen by 1.5 percent so far this week, in line with a modest pick-up in the euro, which is battling against fresh concerns about the ability of several euro zone nations to fund themselves given sovereign debt yields remain high and there is no immediate solution in sight to the crisis.
The gold price vaulted above the 200-day moving average around $1,635 an ounce on Tuesday, which prior to December's sell-off had marked an important level of support, but since then has acted as stiff overhead resistance.
Posted: Wednesday , 11 Jan 2012
Gold's break to a one-month high of $1,646.90/oz has given investors more confidence to buy the metal and evidence of strong demand from major consuming nations further supported the market.
LONDON (Reuters) -
Gold rallied for a second day on Wednesday, hitting its highest in a month after a stronger euro helped boost the price above a key technical level and evidence of strong demand from major consuming nations further supported the market.
Gold has risen by 1.5 percent so far this week, in line with a modest pick-up in the euro, which is battling against fresh concerns about the ability of several euro zone nations to fund themselves given sovereign debt yields remain high and there is no immediate solution in sight to the crisis.
The gold price vaulted above the 200-day moving average around $1,635 an ounce on Tuesday, which prior to December's sell-off had marked an important level of support, but since then has acted as stiff overhead resistance.
Fed Dismisses Economic Recovery
By: Michael Pento | Wed, Jan 11, 2012
The Fed is becoming more concerned about the sustainability of the U.S. recovery, just as the economy looks to be gaining momentum. The unemployment rate has dropped from 9.4% in December of 2010, to 8.5% twelve months later. The American economy has added 1.5 million jobs over the past year, according to the establishment survey of employment, while the household survey shows we have averaged a monthly gain of 230,000 jobs over the past six months. Meanwhile, the average work week and hourly earnings also showed improvement in the December Nonfarm payroll report. In addition, Gross Domestic Product has increased for nine consecutive quarters and is anticipated to post just under a 3% annualized growth in Q4 2011, up from 1.8% during the prior quarter.
So what was the Fed's reaction to this ostensibly better news? San Francisco Fed president John Williams told the WSJ in an interview conducted after the December's NFP report release that the central bank will have to buy more mortgage related bonds and that interest rates would not increase for a very long time. Here is his quote, "Unemployment is going to be sustained above a reasonable estimate of the natural rate of unemployment, which is closer to 6.5 percent than the 8.5 percent that we have now. That does make an argument that we should have more stimulus."
The Fed is becoming more concerned about the sustainability of the U.S. recovery, just as the economy looks to be gaining momentum. The unemployment rate has dropped from 9.4% in December of 2010, to 8.5% twelve months later. The American economy has added 1.5 million jobs over the past year, according to the establishment survey of employment, while the household survey shows we have averaged a monthly gain of 230,000 jobs over the past six months. Meanwhile, the average work week and hourly earnings also showed improvement in the December Nonfarm payroll report. In addition, Gross Domestic Product has increased for nine consecutive quarters and is anticipated to post just under a 3% annualized growth in Q4 2011, up from 1.8% during the prior quarter.
So what was the Fed's reaction to this ostensibly better news? San Francisco Fed president John Williams told the WSJ in an interview conducted after the December's NFP report release that the central bank will have to buy more mortgage related bonds and that interest rates would not increase for a very long time. Here is his quote, "Unemployment is going to be sustained above a reasonable estimate of the natural rate of unemployment, which is closer to 6.5 percent than the 8.5 percent that we have now. That does make an argument that we should have more stimulus."
Senior Staff Members Are Still Bleeding Out Of Morgan Stanley
Ben Walsh | Jan. 11, 2012, 11:06 AM
Across Wall Street, the New Year continues much as the old one ended: with layoffs.
The latest firm to reduce staff, particularly at a senior level, is Morgan Stanley.
The Financial Times is reporting that three senior members of Morgan Stanley's equities business have left the firm:
Across Wall Street, the New Year continues much as the old one ended: with layoffs.
The latest firm to reduce staff, particularly at a senior level, is Morgan Stanley.
The Financial Times is reporting that three senior members of Morgan Stanley's equities business have left the firm:
Fitch: Italy likely to be downgraded by end of January
There is a "significant" chance that Italy will have its credit rating downgraded this month, an executive at the ratings agency Fitch has said.
David Riley, Fitch's head of global sovereign ratings, cited the lack of a plan to halt the eurozone crisis, coupled with Italy's high debts.
Fitch warned last month that Italy and five other eurozone countries were all at risk of downgrade.
David Riley, Fitch's head of global sovereign ratings, cited the lack of a plan to halt the eurozone crisis, coupled with Italy's high debts.
Fitch warned last month that Italy and five other eurozone countries were all at risk of downgrade.
Nation’s Debt Passes Grim Milestone
The nation’s debt has reached a symbolic milestone. With gross domestic product of roughly $15 trillion and total debt of $15.23 trillion, our total debt is now bigger than our economy, as USA Today noted Monday.
What’s more, the Obama administration’s projections put our debt at more than $23 trillion by 2020, well in excess of the projected $22.5 trillion GDP. Analysts agree that the rising debt ratio is not good, but they can’t agree on just how bad it is, and while there’s at least some agreement among economists about how to fix the problem, lawmakers have no such common ground — which is one of the biggest hurdles to actually doing something about the debt dilemma.
What’s more, the Obama administration’s projections put our debt at more than $23 trillion by 2020, well in excess of the projected $22.5 trillion GDP. Analysts agree that the rising debt ratio is not good, but they can’t agree on just how bad it is, and while there’s at least some agreement among economists about how to fix the problem, lawmakers have no such common ground — which is one of the biggest hurdles to actually doing something about the debt dilemma.
'Now silver is your ticket to wealth'
By Gavin Mann
Unless vast reserves of Silver are discovered in the next few years, it is estimated that this precious metal could have less than 20 years supply before it is all gone. this shortage of supply and strong demand within industry is a recipe to one day elevating Silver to being the most valuable precious metal available, and priced even higher than Gold.
Silver is now one of the most sought after, and also now the rarest of the precious metals on the earth today. With approximately 15 years supply of Silver still left in the ground, and with over 1500+ Industrial applications, Silver is now in the spotlight of astute investors to grow, and also protect their Wealth Portfolios for the foreseeable future.
Unless vast reserves of Silver are discovered in the next few years, it is estimated that this precious metal could have less than 20 years supply before it is all gone. this shortage of supply and strong demand within industry is a recipe to one day elevating Silver to being the most valuable precious metal available, and priced even higher than Gold.
Silver is now one of the most sought after, and also now the rarest of the precious metals on the earth today. With approximately 15 years supply of Silver still left in the ground, and with over 1500+ Industrial applications, Silver is now in the spotlight of astute investors to grow, and also protect their Wealth Portfolios for the foreseeable future.
SilverDoctors: A Look Behind the Curtain
SilverDoctors: A Look Behind the Curtain: Money flows to the US are in the hundreds of billions of Euros. The 50 largest EU banks are seeing capital flowing from their vaults f...
SilverDoctors: "Bullish Macro Factors" to Drive Gold in 2012 Rath...
SilverDoctors: "Bullish Macro Factors" to Drive Gold in 2012 Rath...: London Gold Market update from Ben Traynor SPOT MARKET gold prices rose to a one-month high of just under 1647 per ounce Wednesday morning...
SilverDoctors: China's Gold Imports From Hong Kong Surge to Highe...
SilverDoctors: China's Gold Imports From Hong Kong Surge to Highe...: The run into Chinese Lunar New Year has again seen higher than expected Chinese demand for gold and China's voracious appetite for gold is s...
Corzine Sued by Montana Farmers Over MF Global Futures Account Money
By Karen Gullo - Jan 9, 2012 10:47 PM GMT+0100
Jon Corzine, former chief executive officer of collapsed commodity brokerage MF Global Holdings Ltd. (MFGLQ), was sued for fraud by Montana farmers who claim he oversaw the misappropriation of their commodity trading account funds.
The lawsuit filed today by three farmers and a cattle- raising operation in Montana seeks to represent a nationwide group of commodities futures customers whose money went missing amid the $41 billion bankruptcy of MF Global, parent of the futures brokerage that is being liquidated. A trustee is looking for $1.2 billion or more in money missing from commodity customers’ accounts.
Jon Corzine, former chief executive officer of collapsed commodity brokerage MF Global Holdings Ltd. (MFGLQ), was sued for fraud by Montana farmers who claim he oversaw the misappropriation of their commodity trading account funds.
The lawsuit filed today by three farmers and a cattle- raising operation in Montana seeks to represent a nationwide group of commodities futures customers whose money went missing amid the $41 billion bankruptcy of MF Global, parent of the futures brokerage that is being liquidated. A trustee is looking for $1.2 billion or more in money missing from commodity customers’ accounts.
Awaiting a Greek Payout
By LANDON THOMAS Jr.
Published: January 10, 2012
LONDON — Could Greece’s next rescue payout go straight into the pockets of London hedge funds?
That, more or less, is the bet that a growing number of investors are making now as they load up on Greek government securities that mature in March. That is when Athens hopes to receive a potentially make-or-break bailout payment — a lifeline of as much as 30 billion euros ($38 billion) from the European Union and the International Monetary Fund.
Published: January 10, 2012
LONDON — Could Greece’s next rescue payout go straight into the pockets of London hedge funds?
That, more or less, is the bet that a growing number of investors are making now as they load up on Greek government securities that mature in March. That is when Athens hopes to receive a potentially make-or-break bailout payment — a lifeline of as much as 30 billion euros ($38 billion) from the European Union and the International Monetary Fund.
Economic crisis means the Mafia is now ‘Italy’s number one bank’: report
Reuters Jan 10, 2012 – 2:31 PM ET
By James Mackenzie
ROME — Organized crime has tightened its grip on the Italian economy during the economic crisis, making the Mafia the country’s biggest “bank” and squeezing the life out of thousands of small firms, according to a report on Tuesday.
Extortionate lending by criminal groups had become a “national emergency,” said the report by anti-crime group SOS Impresa.
By James Mackenzie
ROME — Organized crime has tightened its grip on the Italian economy during the economic crisis, making the Mafia the country’s biggest “bank” and squeezing the life out of thousands of small firms, according to a report on Tuesday.
Extortionate lending by criminal groups had become a “national emergency,” said the report by anti-crime group SOS Impresa.
Iran and the West Rediscover Oil as Weapon
By Alexander Jung and Bernhard Zand
Four decades after the 1973 oil shock, Iran and the West are once again embracing oil as a weapon. Tehran is threatening to block the Strait of Hormuz, while the industrialized countries are considering a boycott of Iranian oil. But both sides will suffer if such tactics are used.
Surprisingly enough, supertankers don't burn very well. Although the crude oil they transport is highly flammable, there is not enough oxygen in their tanks to create an explosive mixture.
On average, 14 of these giant tankers pass through the Strait of Hormuz, located between Iran and Oman, every day. If Iranian President Mahmoud Ahmadinejad actually ordered his forces to fire missiles at one of these tankers, quite a bit of firepower would be needed to set off a Hollywood-style inferno.
But the verbal attacks from Tehran are more than sufficient to set the global markets ablaze.
Last week, prices climbed significantly above the $100-a-barrel mark once again, despite all gloomy economic forecasts. Gasoline prices already reached an all-time high in Germany in 2011. And now the dispute over who controls the Persian Gulf, which has been triggered by Iran's nuclear policies, is a sign that further escalation is on the horizon.
Four decades after the 1973 oil shock, Iran and the West are once again embracing oil as a weapon. Tehran is threatening to block the Strait of Hormuz, while the industrialized countries are considering a boycott of Iranian oil. But both sides will suffer if such tactics are used.
Surprisingly enough, supertankers don't burn very well. Although the crude oil they transport is highly flammable, there is not enough oxygen in their tanks to create an explosive mixture.
On average, 14 of these giant tankers pass through the Strait of Hormuz, located between Iran and Oman, every day. If Iranian President Mahmoud Ahmadinejad actually ordered his forces to fire missiles at one of these tankers, quite a bit of firepower would be needed to set off a Hollywood-style inferno.
But the verbal attacks from Tehran are more than sufficient to set the global markets ablaze.
Last week, prices climbed significantly above the $100-a-barrel mark once again, despite all gloomy economic forecasts. Gasoline prices already reached an all-time high in Germany in 2011. And now the dispute over who controls the Persian Gulf, which has been triggered by Iran's nuclear policies, is a sign that further escalation is on the horizon.
The war dance is in full swing
By Victor Kotsev
If the most recent wave of escalations in the Middle East is a bluff, it is a very convincing one. Russian analysts speculate that a military intervention against either Syria or Iran (or both) could start by the end of the month; the latter is still hard to imagine, but the time frame seems to correspond to the nature of the developments and the rate at which they are being announced.
Barring a full-scale war in the Middle East in the next few weeks, we could think of what is happening on both sides as a modern version of a war dance, a dress rehearsal for a showdown and a spectacle for domestic consumption, for the enemy and for the international community alike.
If the most recent wave of escalations in the Middle East is a bluff, it is a very convincing one. Russian analysts speculate that a military intervention against either Syria or Iran (or both) could start by the end of the month; the latter is still hard to imagine, but the time frame seems to correspond to the nature of the developments and the rate at which they are being announced.
Barring a full-scale war in the Middle East in the next few weeks, we could think of what is happening on both sides as a modern version of a war dance, a dress rehearsal for a showdown and a spectacle for domestic consumption, for the enemy and for the international community alike.
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