Aug 30

- Has Ukraine Shot Itself In The Foot With Gas Pipeline Deal? (ZeroHedge, Aug 29, 2014):

Last week, Ukrainian Prime Minister Yatsenyuk pushed a bill through the Verkhovna Rada that would see his country’s gas transportation system sold off to a group of international investors. The provisions of the law would permit the transit of natural gas to be blocked. This decision may hurt the fragile industrial recovery in Germany and finish off Ukraine’s potential as a gas transit route to Europe.

 

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Aug 28

- The Greatest Depression? German Yields Now Negative Through 2017 (ZeroHedge, Aug 27, 2014):

Another night, another sell-side bank suggests European QE must be getting closer and, along with more un-de-escalation in Russia-Ukraine, the bid for German bonds continues to surge as Europe’s greater depression appears increasingly priced into bonds. Yields on all German bonds out to 3 years are now negative and 10Y Bunds have collapsed to 90.5bps – record lows. This in turn – as we explained here - is dragging Treasury yields lower (10Y 2.36%) but leaves the spread to Bunds at record highs.


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Aug 26

- French goverment resigns amid rancor over German austerity pressure (RT, Aug 25, 2014):

The French government has resigned despite being formed just 4 months ago. They quit after ministers slammed President Francois Hollande’s plans for taxation and cuts, while also being critical of Germany’s austerity program. Continue reading »

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Aug 24

The Chart That The US Police Force Does Not Want You To See (ZeroHedge, Aug 23, 2014):

USA is #1 once again… that’ll teach the cynics. Oh wait…

copkillers

Source: The Economist

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Aug 18

- Germany tapped John Kerry’s phone, spied on Turkey for years – report (RT, Aug 17, 2014):

Germany’s foreign intelligence agency eavesdropped at least one telephone conversation of US Secretary of State John Kerry and spied on NATO ally Turkey since 2009, Der Spiegel newspaper revealed on Saturday.

Germany’s Federal Intelligence Service (BND) picked up the phone call “by accident” in 2013, the weekly newspaper reported in a pre-publication citing unnamed sources. Kerry was discussing the Middle East tensions between Israelis, Palestinians and Arab states in a satellite link, according to Der Spiegel.

The new revelation comes after German media – Daily newspaper Sueddeutsche Zeitung (SZ) and regional public broadcasters NDR and WDR – reported on Friday that BND intercepted at least one phone call made by former Secretary of State Hillary Clinton. The date of the call was not given and the media said that it was also picked up “by accident”. Continue reading »

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Aug 17

putin smile_0

- “Anti-Putin” Alliance Fraying: Germany, Slovakia, Greece, Czech Republic Urge End To Russian Sanctions (ZeroHedge, Aug 16, 2014):

Last week Germany reported that in the second quarter, its GDP declined by 0.2%, worse than Wall Street consensus. This happened a few shorts days after Italy reported a second consecutive decline in its own GDP, becoming the first Europen country to enter a triple-dip recession. What’s worse, Europe’s slowdown took place before the brunt of Russian sanctions hit. Surely in the third quarter the GDP of Germany, a nation whose exports accounts for 41% of GDP, will be even worse, with whisper numbers of -1% being thrown casually around, but one thing is certain: Europe is about to enter its third recession since the Lehman collapse just as we forecast at the end of 2013, a “triple-dip” which may become an outright depression unless Draghi injects a few trillion in credit money (which will do nothing but delay the inevitable and make it that much worse once the can can no longer be kicked), and unless normal trade ties with Russia are restored. Continue reading »

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Aug 15

Reserve Currency Status

- World Reserve Currencies: What Happened During Previous Periods Of Transition? (Economic Reason, Aug 11, 2014):

The decline of the US dollar hegemony is ever so clear today and this article aims to provide the reader with what exactly happened during past periods of reserve currency transitions. Historically, when a reserve currency transitioned over to a new one, it marked a pivotal change for the world. The economic paradigm shifted and the rules of the game changed. This time will be no different when the US dollar loses its status as the reserve currency!

The transition process of the world reserve currency brings much uncertainty

Continue reading »

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Aug 09

- German Handelsblatt Releases Stunning Anti-West Op-Ed, Asks If “West Rabble-Rousers Are On The Payroll Of The KGB” (ZeroHedge, Aug 8, 2014):

Up until this point Angela Merkel, and German media in general, had been staunchly on the side of the west when it comes to dealing with Russia, Putin and realpolitik in broader terms. That changed dramatically today when Gabor Steingart, the chief editor of Handelsblatt, Germany’s leading economic newspaper, came out with a stunning op-ed, in German, English and Russian, titled simply that “The West on the wrong path” in which the editor comes out very vocally against the autopilot mode German media has been on for the past several months and calls for an end to a strategy of sanctions and Russian confrontation that ultimately “harms German interests” and is a dead end.

Some of the “must read” excerpts: Continue reading »

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Aug 01

Russia And Germany Allegedly Working On Secret “Gas For Land” Deal (ZeroHedge, July 31, 2014):

While many were amused by this photo of Putin and Merkel during the world cup final showing Europe’s two most important leaders siding side by side, some were more curious by just what the two were scheming: Thanks to the Independent, we may know the answer, and it is a doozy, because according to some it is nothing shy of a sequel to the Molotov-Ribbentrop pact: allegedly Germany and Russia have been working on a secret plan to broker a peaceful solution to end international tensions over the Ukraine, one which would negotiate to trade Crimea’s sovereignty for guarantees on energy security and trade. The Independent reveals that the peace plan, being worked on by both Angela Merkel and Vladimir Putin, “hinges on two main ambitions: stabilising the borders of Ukraine and providing the financially troubled country with a strong economic boost, particularly a new energy agreement ensuring security of gas supplies.”

 

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Jul 25

- Typewriter manufacturers see boom in sales (The Local, July 21, 2014):

German typewriter manufacturers are enjoying a boom in sales following the NSA spying scandal. A German defence manufacturer switched to typewriters last year, while last week a leading politician called for the government to use the old technology.

The head of the parliamentary inquiry into spying by the US National Security Service (NSA) in Germany made headlines last week when he said his committee was considering using typewriters. But he is not alone.

With a turnover of €5 million, the German typewriter market is growing. Continue reading »

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Jul 23

- Europe Agrees To Disagree Over New Russian Sanctions (ZeroHedge, July 22, 2 014):

As usual, Europe is talking out of both sides of its mouth (or other orifices). On the one hand, we are told:

  • EU foreign ministers failed to agree new sanctions against Russia at a Brussels meeting

And on the other hand:

  • Dutch minister says EU imposing new sanctions on officials over Russia

So – which is it Europe? Continue reading »

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Jul 21

In 1920 gold fell, then it soared!


weimar-hyperinflation

- Gold/Silver Prices Under the Weimar Republic’s Inflation (Daily Paul, Dec 21, 2010):

Stole this from another article/blogger.

Quote:

“On a closing note, because I forgot last week, I would like to share with everyone just how the price of silver and gold escalated in German Mark terms, through the Weimar experience:

Hyperinflation: Wiemar, Germany January 1919 to November 1923
[Expressed in German Marks needed to by an oz. of ag. or au.]”

Jan. 1919
Silver 12
Gold 170

May. 1919
Silver 17
Gold 267

Sept. 1919
Silver 31
Gold 499

Jan. 1920
Silver 84
Gold 1,340

May 1920
Silver 60
Gold 966

Sept. 1921
Silver 80
Gold 2,175

Jan. 1922
Silver 249
Gold 3,976

May. 1922
Silver 375
Gold 6,012

Sept. 1922
Silver 1899
Gold 30,381 Continue reading »

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Jul 19

FYI.


tax

- OECD Fears Middle Class Civil Unrest Is Coming (Armstrong Economics, July 16, 2014):

This idea that we live in a world where government cares about us is just the biggest propaganda ever. Everyone one will only pursue their own self-interest. The OECD has interesting come out and warned that if governments are unable to stop the transfer of wealth to a small financial elite, the displeasure of the dispossessed middle class could easily turn and go against the prevailing governmental systems. The OECD has claimed to have discovered the existence of a veritable “lumpenproletariat” in the supposedly rich Germany. Even though the systems attempt to provide citizens with bread and circuses in the traditional Roman style to keep them quiet, such  tactics they warn may have now become obsolete after the ultimate circus is over – the World Cup. Continue reading »

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Jul 16

- ​‘No joke’: Germany mulls using typewriters to combat US snooping (RT, July 15, 2014):

Amid the worsening Berlin-Washington spy row, German politicians are considering going back to old-fashioned manual typewriters for confidential documents to protect national secrets from American NSA spooks.

Patrick Sensburg, the chair of the German parliament’s enquiry into NSA alleged spying, said committee members are considering new security measures and are seriously thinking about abandoning email and returning to old school typewriters.

“As a matter of fact, we already have [a typewriter], and it’s even a non-electronic typewriter,” he told the ARD Morning Show Monday. Continue reading »

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Jul 15

putin smile

- 9 EU countries ready to block economic sanctions against Russia (RT, July 15, 2014):

France, Germany, and Italy are among EU members who don’t want to follow the US lead and impose trade sanctions on Russia. US sanctions are seen as a push to promote its own multibillion free-trade pact with Europe.

“France, Germany, Luxembourg, Austria, Bulgaria, Greece, Cyprus, Slovenia, and EU President Italy see no reason in the current environment for the introduction of sectorial trade and economic sanctions against Russia and at the summit, will block the measure,” a diplomatic source told ITAR-TASS. Continue reading »

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Jul 14

- Over a dozen CIA-recruited spies work in German ministries – report (ZeroHedge, July 13, 2014):

US secret services have recruited more than a dozen officials in various German government ministries to work as spies, with some of them working for the CIA for many years, a German tabloid reported on Sunday.

Following previous espionage scandals in Germany, with several suspected US agents exposed in July, a report of more spies infiltrating German ministries was published by Bild am Sonntag, Germany’s largest-selling national Sunday paper.

The alleged spies work within the country’s defense, development, economic, and interior ministries, reported the paper, referring to unnamed sources in the US intelligence community. Continue reading »

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Jul 13

From the article:

“It is just amazing who disconnected government are from the reality of the economy. Everything is geared to move toward the confiscation of wealth not reforming the system. These people are just brain-dead.”


Bremen-buergerschaft

- German Municipals In Trouble (Armstrong Economics, July 10, 2014):

Part of our job is monitoring everything everywhere. We are gathering data om whatever moves on a global basis. I have stated numerous times, it is IMPOSSIBLE to forecast a single market in isolation because the wildcard comes from contagions set in motion elsewhere. It is like sunning on the beach and there is a tidal wave coming because of an earthquake you didn’t know happened. Unless you monitor the world, you cannot even forecast the weather for tomorrow. It would all be just dumb-luck and chance.

I have been warning that about 50% of the municipal governments in Germany are on the verge of bankruptcy. Continue reading »

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Jul 12

- Germany Instructs Its Companies To Limit Cooperation, Procurement Orders With The US (ZeroHedge, July 11, 2014):

Update: it just got worse. Moments ago Bloomberg followed up with the second, and expected, part of this story, namely that just like China cut off major US corporations from big procurement contracts leading to a collapse in CSCO and IBM Asian revenues, it is now Germany’s turn. Per Bloomberg, the German Interior Ministry reviewing rules for awarding govt contracts for computer, communications equipment and services as political rift w/ U.S. widens, people familiar with matter told Bloomberg News’ Cornelius Rahn, Amy Thomson.

  • Ministry will probably issue new purchasing guidelines in coming weeks to replace “no-spy-order” dated April 30
  • Details being worked out, may require suppliers of components of bidder’s goods or services to guarantee they don’t hand over confidential data
  • IBM, CSCO, MSFT may be affected by any tightening of procurement procedures: Forrester Research analyst Andrew Rose

* * *

Congratulations America: after severing ties with Russia, crushing cordial relations with China (leading to this stunning announcement by China’s president), alienating France (which is now openly calling for an end to the petrodollar), the Obama administration – following not one, not two, but three spying scandals in just the past year – has managed to sour relations with Germany to a point where one wonders just who is a remaining US ally in Europe these days.

According to Bloomberg, the German chancellor’s office has issued instructions to national intelligence services to limit cooperation with U.S. following alleged U.S. spying case, Bild reports without saying where it got information.

The newspaper also says: Continue reading »

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Jul 11

- Germany asks top US intelligence official to leave country over spy row (Guardian, July 10, 2014):

Move comes in response to two reported cases of suspected US spying in Germany

Diplomatic relations between Germany and the US plunged to a new low after Angela Merkel’s government asked the top representative of America’s secret services in Germany to leave the country.

While not formally amounting to a full expulsion, the move nonetheless sends a dramatic signal: after a year-long dispute triggered by the revelations of NSA whistleblower Edward Snowden, Merkel seems to have finally run out of patience with Washington’s failure to explain itself. Continue reading »

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Jul 10

Germany Blesses “Bail-In” Deposit Confiscation Plan For Failing EU Banks (ZeroHedge, July 9, 2014):

One year earlier than required, the German government approved plans to force creditors into propping up struggling banks across Europe. As WSJ reports, Germany “leads the way” in Europe by implementing European rules quickly and “creates instruments that allow the winding-down of big systemically relevant institutions without putting the financial stability at risk.” What this means is that taxpayers (theoretically) will not be on the hook (though in reality we are sure the mutually assured destruction defense will be played – especially if Deutsche runs into problems) but as German authorities explain, “This ensures that in times of crisis mainly owners and creditors will contribute to solving the crisis, and not taxpayers.” As a gentle reminder – creditors includes depositors… remember Cyprus?

As WSJ reports,

Germany’s cabinet Wednesday approved plans to force creditors into propping up struggling banks beginning in 2015, one year earlier than required under European-wide plans that set rules for failing financial institutions. Continue reading »

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Jul 10

- ‘Second CIA spy in Germany': Berlin raids Ministry of Defense (RT, July 9, 2014):

German authorities have carried out a raid on the residence of a defense ministry official suspected of passing secrets to the US, just one week after the arrest of a German intelligence officer who worked as a double agent.

Officials from the Federal Prosecutor’s Office said Wednesday that residential and office premises of the staff of the Federal Ministry of Defense in Berlin were searched on “initial suspicion of activity for an intelligence agency.”

According to the German newspaper Die Welt, a soldier of the Bundeswehr is suspected of committing espionage. The individual was said to have made “intensive contacts” with alleged US intelligence officials and was under the surveillance of the Military Intelligence (MAD) some time ago.
Continue reading »

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Jul 08

Twintowers_of_Deutsche_Bank_Headquarter_in_Frankfurt_a.M.

- US Set To Alienate Angry Germany Next, As Crackdown Shifts From BNP To Commerzbank, Deutsche Bank (ZeroHedge, July 8, 2014):

As we reported over the weekend in “By “Punishing” France, The US Just Accelerated The Demise Of The Dollar“, following the record $9 billion fine against French BNP, the outcry has been fast and furious, with virtually everyone in the local chain of command, from the CEO of Total to the head of the Bank of France (and ECB member) Christian Noyer, all saying that the US is now clearly abusing the reserve power of the dollar and it is time to move away from a dollar-based reserve currency (how that jives with concurrent French demands for a lower EUR is a different, incomprehensible matter entirely).

It appears that having pushed France forcefully into the Russia-China Eurasian, and anti-US camp, the US will now do the same with Germany. Because after infuriating the German population by first refusing to return their gold contained (the legend goes) at the New York Fed, and then with scandal after spying scandal, most recently involving the CIA directly soliciting a German double agent, now the time has come to “punish” Germany’s largest banks for the same kind of money laundering that BNP was engaged in. As the NYT and Reuters report, the time has come to shift away from the BNP scandal and focus on what will soon be the Commerzbank and Deutsche Bank fallout.

According to the NYT, the money laundering crackdown is “bound for another European financial center: Germany. State and federal authorities have begun settlement talks with Commerzbank, Germany’s second-largest lender, over the bank’s dealings with Iran and other countries blacklisted by the United States, according to people briefed on the matter. The bank, which is suspected of transferring money through its American operations on behalf of companies in Iran and Sudan, could strike a settlement deal with the state and federal authorities as soon as this summer, said the people briefed on the matter, who were not authorized to speak publicly.

The contours of a settlement, which the authorities have only begun to sketch out, are expected to include at least $500 million in penalties for Commerzbank, the people added. Although prosecutors were still weighing punishments, the people briefed on the matter said that the bank would most likely face a so-called deferred prosecution agreement, which would suspend criminal charges in exchange for the financial penalty and other concessions.

It’s not just Commerzbank – a settlement with the smaller bank will merely pave the way for the punishment of the biggest bank of all (in terms of groiss derivative notional held): Deutsche Bank.

A potential deal with Commerzbank — which is expected to pave the way for a separate settlement with Deutsche Bank, Germany’s largest bank — would pale in comparison to the case announced last week against France’s biggest bank, BNP Paribas. The French bank agreed to pay a record $8.9 billion penalty and plead guilty to criminal charges for processing transactions on behalf of Sudan and other countries that America has hit with sanctions, a rare criminal action against a financial giant.

As NYT adds, correctly, “The Commerzbank investigation features an added twist: The bank is 17 percent owned by the German government. It is unclear whether — as in the BNP case, which led French authorities to intervene on the bank’s behalf — the settlement talks could inflame diplomatic tensions between Washington and Berlin.

Of course, since this is the ridiculous “scorched earth” diplomatic policy, if one may call it that, of the Obama administration, nobody is surprised any more that the US president is alienating one former ally after another.

As we first observed a few weeks ago when we revealed JPM’s involvement in all of this money laundering, “some critics have questioned why American authorities have set their eye on European banks. The answer, authorities say, is that American banks by and large avoided processing transactions for Iran and Sudan. But American banks are not immune from touching dirty money. Citigroup’s Banamex unit is under investigation for processing money linked to a drug cartel. And in January, JPMorgan Chase reached a roughly $2 billion deal with the authorities over ignoring signs of the Ponzi scheme orchestrated by Bernard L. Madoff, who held accounts at the bank for over two decades.”

Not only that but as we wrote over the weekend, the bank that was instrumental in facilitating BNP’s money laundering for nearly a decade was none other than JPM. One wonders if JPM also “unwittingly” was the bank that made German money laundering around the globe possible. Did we mention unwittingly?

BNP-Goldman

Still, while one can debate the idiocy of US foreign policy, eager to push European allies into the willing hands of Russia and China at the worst possible moment, when regional and civil wars and conflicts are suddenly breaking out across all key geopolitical hotspots, one wonders: in the case of BNP, the “fine” was as a result of French unwillingness to halt the Russian amphibious warship deal despite US demands. So it would be curious just what the US blackmail against German banks is for: one really does wonder just what punishment Angela Merkel deserves behind the scenes in the eyes of John Kerry et clueless al, to punish her and Germany so blatantly for the entire world to see.

One thing is clear: if the US thinks that Germany will continue to consider America its BFF and make zero contingency plans for when the alliance with the US finally crashes and burns, it will be truly surprised when the Eurasian alliance of Russia and China finally announces its final, all-important, missing link member: the manufacturing and export powerhouse that is Germany itself.

 

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Jul 07

H/t reader squodgy:

“Like I said…all banksters are in it together to look after each other.

The crunch is imminent, no doubt.”

Related info:

- Germany Gives Up On Trying To Repatriate Its Gold, Will Leave It In The Fed’s ‘Safe Hands’

- THE BLAZE: What Really Happened To The German Gold Housed In The United States? (Video)

- China Slowly Buying Up The Physical Gold Market – Germany’s Gold Is Gone (Video)

- Bundesbank Moves Away From Specific Gold Repatriation Schedule

- Dr. Paul Craig Roberts: U.S. Gold Gone (Video)

- Dr. Paul Craig Roberts And Dave Kranzler: The Hows And Whys Of Gold Price Manipulation


gold123

- Germany’s failed attempts to get its gold back from the US ‘opens question of its sovereignty’ (RT, July 7, 2014):

There is neither real criticism from German politicians, nor any visible efforts to return German gold held in the US, so it seems that US controls Germany, economic analyst Michael Mross told RT.

In one of its recent reports Bloomberg claimed that Germany decided not to repatriate its gold reserves from the US, instead the Bundesbank issued an official statement that underscores it’s “trust” in its American partners. According to Bloomberg, Germany gave up after repatriating just 5 tons of gold, though earlier it was told that it would get all the German gold back by 2020.

RT: What’s really behind Germany’s efforts to get its gold reserves back?

Michael Mross: These German efforts to get back gold reserves are not really there. They are talking about it but it is only a simple and ridiculous theatre in my opinion. I cannot see any effort to do it. What we have is lack to re-transport or take back, 300 tons before 2020, but also this is ridiculous – last year they took back only 37 tons. At the end of the day, it is to make the public calm, but it is not really an effort to take back the gold. Continue reading »

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Jul 03

- NSA whistleblowers testify in Bundestag inquiry, disclose ‘totalitarian’ surveillance  (RT, July 3, 2014):

Former NSA agents-turned-whistleblowers are testifying before a German parliamentary committee as the Bundestag investigates America’s wiretapping methods with one of them branding the NSA approach “totalitarian.”

It is hoped that evidence from the two US citizens, William Binney and Thomas Drake, will shed light on the methods of surveillance used by the American National Security Agency (NSA), which eavesdropped on the mobile phone of German Chancellor Angela Merkel and other leading German and European politicians.

Binney and Drake broke their silence long before ex-NSA employee Edward Snowden leaked revelations about American intelligence agencies’ practices last year.

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Jul 03

- The Emerging German-Russian Axis (ZeroHedge, July 2, 2014):

Submitted by Charles Gave via Gavekal Dragonomics,

This weekend has seen the European Union do a stitch-up deal so that arch-federalist Jean-Claude Juncker became Commission president. To be honest, who gets to play eurocrat in chief is of no great interest to me, but the manner of the appointment tells us lots about the changing nature of power in Europe. Governments from Stockholm to Rome reportedly opposed Juncker, but ultimately none would defy Berlin. Also this weekend, it is worth noting some ostensibly bland comments by Vladimir Putin at a German-Russian official function: “We value the accumulated potential of Russian-German relations and the high level of trade and economic cooperation. Germany, one of the European Union leaders, is our most important partner in enhancing peace, global and regional security.” Continue reading »

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Jun 27

Germany’s “End The Fed” Protest Organizer Gets Car Fire-Bombed (ZeroHedge, June 26, 2014):

Anyone saying “the Fedeal Reserve Act is bad” in Germany is, according to Lars Maehrholz, looked upon by the mainstream as being a Nazi. The organizer of the widespread “End The Fed” rallies that we discussed previously, explained that he is not only under attack by the main stream media and political system in Germany but also physical threats that resulted in a car he was in getting fire bombed by an anonymous perp.

As WeAreChange reports,

Lars received threats that this would happen online and now his friends car that he was in, was set on fire.

The police say that the car caught on fire by itself and are not investigating the case. Luckily Lars and his friend were not in the car when it was set on fire.

In this video Luke Rudkowski talks to Lars Maehrholz a skydiver that became the main organizer of the massive Monday peace vigils in Berlin.

The Monday peace vigil is an autonomous fully independent movement that gained massive popularity in Berlin that is against the U.S Federal Reserve.

 

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Jun 25

- 74% of Germans oppose permanent NATO bases in Poland and Baltics (RT, June 25, 2014):

Nearly three-quarters of Germans oppose having permanent NATO military bases in Poland and the Baltic states as a buffer against Russia, a new poll reveals. The opinion reflects a growing trend within Europe opposing further NATO eastern expansion.

In the Forsa poll for the Internationale Politik magazine’s latest edition slated for Friday, 74 percent of those surveyed were against the idea, while only 18 percent supported it, Reuters reports. Opposition to NATO expansion in Eastern Europe remains highest in former Communist eastern Germany, Forsa said. Continue reading »

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Jun 24

The people of Germany have burned many, many GMO trial fields to the ground.

They will not sit back and allow fracking without a fight.

More info on fracking down below.


Support the campaign to stop fracking here: https://www.campact.de/fracking/appell-2014/teilnehmen/

Fracking stoppen

Fracking totally destroys our drinking water, wherever it is allowed.

As if only beermakers are against fracking …

Friederike Borchert at her family’s brewery in Lünne, Lower Saxony
‘Fracking could spell the end of our existence,’ says Friederike Borchert at her family’s brewery in Lünne, Lower Saxony. Photograph: Christian Jungeblodt for the Guardian

- German beermakers look like winning their battle to stop fracking (Guardian, June 17, 2014):

ExxonMobil test drilling makes brewers fear for their livelihoods, but others see fracking as alternative to coal and nuclear energy
Germany is a beer nation: if their beer has no flavour, people will mount the barricades,” says Friederike Borchert. At her family’s brewery in Lünne, Lower Saxony, about 800,000 litres of beer are produced a year: a light pilsner, a dark beer and a buckwheat brew. Borchert, 27, dreams of one day making her own India pale ale, though now fears she may have to put her aspirations on hold.In spring 2011, US energy group ExxonMobil made a horizontal test drill into shale rock under a field down the road, so far the only one of its kind in Germany.Many locals are now convinced that Lünne has been earmarked as the country’s first site for fracking, the controversial method of extracting gas by injecting water, sand and chemicals into the rock at high pressure. Earlier this month, a leaked letter by the economy and energy minister, Sigmar Gabriel, hinted at permitting fracking from 2015, apparently confirming their suspicions.”For brewers fracking could spell the end of our existence,” says Borchert. Water used for brewing has to be “even cleaner drinking water”. The fear alone that chemicals used during fracking might enter the local ground water could ruin the brewery’s reputation. But then Germany is a beer nation, she says, and when brewers speak up politicians tend to listen.

‘German Angst’??? (Angst = Fear)

‘War is Peace’ … and … ‘Sanity is now the new Angst”???

- Germany CEOs Lament Lost Innovation as Fracking Angst Rises (Bloomberg; June 10, 2014):

Germany has rejected genetically modified crops, nuclear power and magnetic levitation trains. Now, the country that invented the modern car and X-ray technology is adding fracking to the list of innovations it’s wary of.

Business leaders had lobbied for the extraction method, which injects water and chemicals underground, to lessen Germany’s dependence on Vladimir Putin’s Russia where a third of its natural gas supply is derived. Last week, the government started preparing a law to limit fracking to rare cases, unlike in the U.S. where the practice is widespread.

The restrictions are a setback for executives, who say policymakers bow too easily to concerns in the population that new technologies will harm the environment. Germany, which has the most powerful Green Party in Europe, is missing out on industries worth more than $200 billion globally, or about 6 percent of its gross domestic product, including nuclear power and fracking. Executives argue the risk-aversion hampers the competitiveness of a nation that discovered nuclear fission used to detonate atomic bombs, and has been led by a trained physicist, Angela Merkel, since 2005.

“If we habitually reject risk, then we’ll run our society into the grave,” said Karl-Ludwig Kley, the chief executive officer of the world’s oldest chemical and pharmaceutical company Merck KGaA (MRK), in a May 13 panel discussion in Frankfurt.

Fukushima Accident

Germany is not alone in rejecting extensive fracking, genetically modified crops and nuclear power in the face of widespread political, scientific and popular concern over their environmental impact.

Fracking is banned in France and the U.K. government, while supportive of the practice, has faced opposition from numerous groups such as the Green Party and Greenpeace. Genetically modified crops, widely grown in Asia as well as North and South America, are also spurned by France and Austria. Italy and Greece had already rejected nuclear power before Merkel decided to shut down all German reactors by 2022 following the Fukushima plant accident in Japan three years ago.

“With fracking, there are still too many questions that haven’t been answered yet,” said Volker Bouffier, the prime minister of the federal state of Hesse, which last month backed a decision to uphold the current ban of the practice on concern that chemicals could seep into drinking water. “Every politician has to ask him or herself the question: Can I take responsibility for this?”

‘German Angst’

Still, Bayerische Motoren Werke AG (BMW) Chief Executive Officer Norbert Reithofer uses the term “German Angst” to explain the paradox of the country’s innovation ability on one hand and its reluctance to embrace technological change on the other.

“German Angst refers to how, when it comes to making radical changes, we in this country like to engage in long and fearful discussions, because we Germans tend to see more problems than opportunities,” Reithofer said.

germany-to-resume-fracking-by-2015-under-tougher-environmental-norms

- Germany to resume fracking by 2015 under tougher environmental norms (Mining, June 10, 2014):

As the German government fine-tune new rules to allow miners use the controversial technique of hydraulic fracturing — or fracking — for gas extraction as early as next year, experts are voicing their concerns.

After a two-year moratorium, Environment Minister Barbara Hendricks has said that the country is ready to embrace the shale gas revolution. But she warned that while allowing fracking should reduce Germany’s dependency on Russian energy and boost competitiveness with US manufacturers, authorities will set tough environmental standards.

- Germany Leans Toward Allowing Fracking (New York Times, June 5, 2014):

BERLIN — In a potential shift in German energy policy, the government of Chancellor Angela Merkel is preparing a framework that would let energy companies extract oil and natural gas by the controversial practice of hydraulic fracturing, or fracking.

The guidelines emerging from government discussions are strict, but they are a step, as energy companies have been barred from using the technology in recent years, even for conventional gas extraction.

The government is responding to pressure from industry and consumers to develop new sources of fuel and reduce Germany’s dependence on gas imported from Russia. With domestic production dwindling, almost 90 percent of Germany’s gas is imported.

Allowing fracking would open up the possibility of the production of oil and gas from shale rock in Germany.

- Special Report: How fracking helps America beat German industry (Reuters, June 2, 2014):

(Reuters) – Nestled in the green hills of southern Germany, chemical giant Wacker Chemie churns out a wide range of products, from an ingredient for chewing gum to the polysilicon crystals in solar cells.

The electricity to produce all that – enough power for more than 700,000 households annually – has become more costly at Wacker’s main factory in Burghausen. It has played a big part in pushing up the firm’s total energy bill by 70 percent over the last five years, to nearly half a billion euros.

It’s a different story across the Atlantic in the U.S. state of Louisiana. There, chemicals maker Huntsman Corp pays 22 percent less for its power than it did just seven years ago.

More info on fracking:

- Will Fracking Cause Our Next Nuclear Disaster?

- WTF: North Carolina GOP Pushes Unprecedented Bill To Jail Anyone Who Discloses Fracking Chemicals

- Exxon CEO Fights Fracking … When It Comes Near His Texas Ranch

- Fracking Is Draining Water From US Areas Suffering Major Shortages

- Fracking’s Terrifying Water Usage Trends Spell Disaster

Prof. Chris Busby For RT: Wrecking The Earth: Fracking Has GRAVE RADIATION Risks Few Talk About

- Texas: The Worst Drought In Two Generations Is Choking Water Supply, Which Is Why Residents Now Turn Against Fracking

- ‘The Real Threat: Acid Jobs’

Fracking Our Food Supply – Livestock Falling Ill In Fracking Regions

- Fracking The Great Lakes

- Fracking Chemical Cocktail Interview – ‘Fracktastic’ Radionuclides And Total Destruction Coming Your Way (Video)

- David Letterman On Fracking:‘We’re Screwed’ (Video)

- Human-Made Earthquakes Reported In Central U.S (Reuters)

- US Government Confirms Link Between Earthquakes And Fracking

- European Gas Giant Backs French Fear Of Fracking

- Texas Forces Firms To Open Up On ‘Fracking’

- Fracking Hell: Toxic And Radioactive Waste – The Untold Story

- The Oil and Gas Industry’s 800-Pound Gorilla: RADIATION!

- ‘Fracking’ Result (= Contamination) For UK Shale Gas Will Be Kept Secret Until 2015

- US: Natural Gas Wells’ Contaminated Water Hits Rivers

- GASLAND Trailer 2010 (Documentary)

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Jun 23

Aaaand it’s gone …

- THE BLAZE: What Really Happened To The German Gold Housed In The United States? (Video)

- China Slowly Buying Up The Physical Gold Market – Germany’s Gold Is Gone (Video)

- Bundesbank Moves Away From Specific Gold Repatriation Schedule

- Dr. Paul Craig Roberts: U.S. Gold Gone (Video)

- Dr. Paul Craig Roberts And Dave Kranzler: The Hows And Whys Of Gold Price Manipulation

This, by the way, is post no. 26,000!!!


Gold-gold-GOLD

Germany Gives Up On Trying To Repatriate Its Gold, Will Leave It In The Fed’s “Safe Hands” (ZeroHedge, June 23, 2014):

Several months after it was revealed that Germany was able to only recover a miserable 5 tons of its gold in all of 2013 (under 10% of the 84 tons it was scheduled to repatriate), Germany appears to have given up entirely in its attempt to recover gold which simply is not there, and as Michael Krieger reports, citing Bloomberg, has decided to keep “it” (by “it” we don’t mean the gold since that clearly has not been at the Fed for decades, but merely the paper promises of ownership: for more see China’s gold rehypothecation scandal and how the unwind works) at the NY Fed after all. That is to say, in the “safe hands” of former Goldmanite Bill Dudley.

Via Mike Krieger’s Liberty Blitzkrieg blog,

Just last week, I published a post titled, Video of the Day – “End the Fed” Rallies are Exploding Throughout Germany, which subsequently went viral. Interestingly, only a few days later we find out that Germany’s very own criminal political class has decided it will continue to store the nation’s gold in New York rather than bring it back home as had been the intention. It’s quite ironic that just as protests against the fascist Federal Reserve are spreading throughout the land, the political class officially decides to keep Germany’s treasure across the Atlantic, in care of none other than The Fed itself. Continue reading »

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Jun 22

The BND has been in bed with the CIA since its creation.


- New leaks show Germany’s collusion with NSA (Deutsche Welle, June 21, 2014):

Several new Snowden-leaked documents show how closely Germany’s intelligence agencies work with the NSA. But did the German government deliberately soften laws protecting privacy to make life easier for them?

This week German news magazine Der Spiegel published the largest single set of files leaked by whistleblower and former US National Security Agency contractor Edward Snowden. The roughly 50 documents show the depth of the German intelligence agencies’ collusion with the NSA.

They suggest that the German Intelligence Agency (BND), the country’s foreign spy agency, and the Office for the Protection of the Constitution (BfV), the German domestic spy agency, worked more closely with the NSA than they have admitted – and more than many observers thought. Continue reading »

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