Just in case you didn’t believe me…..VOTE …NONE of the above.”
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They Are Coming
“They have taken the bridge and the second hall. We have barred the gates but cannot hold them for long. The ground shakes, drums… drums in the deep. We cannot get out. A shadow lurks in the dark. We can not get out… they are coming.”Continue reading »
It was entitled, “The UK economy is a ticking time bomb,” and the editor didn’t pull any punches in completely shattering the conventional fantasy that ‘all is well’, and that advanced economies can simply print and indebt their way to prosperity.
“This is not going to be a 1921-style two-year recession that we bounce back from after a little bit of pain and unpleasantness. After a 50-year global economic boon involving what is now a $59 trillion expansion of credit in 50 years, this isn’t going to be a one or two-year hard recession. This is going to be a multi-decade global depression and I’m not sure that anyone alive today would live long enough to see the recovery. I mean, it’s like Rome: when Rome fell, there was a recovery, but it was 1,000 years later. This is the kind of depression we’re looking at if we allow this $59 trillion credit bubble of ours to implode.”
Essentially, he sees the past 50 years of economic prosperity fueled by globalization and easy credit in serious danger of being unwound, as the doomed monetary policies currently being pursued by the word’s central banks result in a massive multi-decade depression that spans the globe.
The first version of The Dollar Crisis, the hardback, came out in 2003, so I wrote it in 2002. And at that time, the dollar against gold was $300. So the dollar has lost more than 75% of its value since The Dollar Crisis was written, and I don’t think it’s going to stop here. I expect it to continue to lose value over the years and decades ahead.
But what we’re seeing is that the real theme of The Dollar Crisis was that the post-Bretton Woods international monetary system was fundamentally flawed because it couldn’t prevent trade imbalances between countries. And the US had developed an enormous trade deficit with the rest of the world and this blew the trade surplus countries like Japan and China into bubbles. And then, the dollars boomeranged back into the United States and blew it into a bubble, as well. I didn’t know when the housing bubble was going to pop in the US but I knew it would. And I wrote in The Dollar Crisis that when it did, we would have a severe global economic recession/depression that would involve a systemic banking sector crisis in the United States and necessitate trillion-dollar budget deficits and unorthodox monetary policy to prevent a Great Depression from occurring. Continue reading »
British nuclear submarine HMS Talent suffered a huge gash to her conning tower after hitting ice floes while tracking Russian vessels and will be out of action for several months for repairs, according to Royal Navy sources.
The collision ripped a six-foot hole at the top of the vessel, and although defense officials refuse to disclose exact details of where and when it happened, they insist the damage occurred after hitting floating ice and not after a collision with another vessel, The Mail on Sunday reports. Continue reading »
A group of British exploration companies have found oil and gas in an area north of the Falkland Islands. The Argentine government has threatened to challenge all exploration and drilling efforts in court.
The discoveries by the Zebedee exploration well were described by companies involved as “better than expected”.
The oil explorers said they found 27.9 meters of net-oil bearing reservoir and 18.5 meters of net gas-bearing reservoir. The license area being explored is 40 percent owned by Falklands Oil and Gas, 36 percent by Premiere Oil and 24 percent by Rockhopper Exploration. Continue reading »
Soldiers will be safe from the “persistent human rights claims” that have dogged the British military for years because the Conservatives will “rip up” human rights legislation if they win the general election, two top Tories have pledged.
Defence Secretary Michael Fallon called for an end to what he called the “abuse” of the Human Rights Act to bring about costly inquiries into the conduct of British soldiers during wartime operations in Iraq and Afghanistan.
He warned that legal claims such as those emerging from the Iraq War had undermined the military’s work and had cost the taxpayer millions of pounds. Continue reading »
More than 30 UK Royal Air Force planes took to the skies for Rising Panther, Britain’s largest aerial exercises in more than a decade. Military sources confirmed the drills were in response to increased Russian presence around UK shores.
“Russia has certainly painted the background to these exercises, though of course they are needed in any event,” a high-ranking source within the NATO member’s air force told The Sunday Express. The newspaper cited another source as saying that the war games would “show Vladimir Putin in no uncertain terms” that Britain is ready for any military confrontation.
Last week, Russia completed a surprise mass mobilization and drill of its Northern Fleet. This involved more than 110 aircraft, as well as 40,000 servicemen and over 40 ships. Continue reading »
The former officer claims the investigation was shut down for ‘national security’ reasons
A member of the Royal family was claimed to be part of a suspected paedophile ring under investigation by police in the late 1980s, a former police officer has said.
The former Metropolitan Police officer says he was told by a detective sergeant that the investigation into the ring, which was also claimed to include an MP, was shut down for national security reasons.
“I was in a car with two other vice squad officers. … The detective sergeant said he had just had a major child abuse investigation shut down by the CPS regarding a royal and an MP,” he told the Sunday Mirror newspaper.
“He did not mention names, but he said the CPS had said it was not in the public’s interest because it ‘could destabilise national security’.”Continue reading »
For years, Winston Churchill’s famous quote, “It has been said that democracy is the worst form of government except all the others that have been tried,” has served as Americans’ last word in any political discussion which requires validation of the US government, no matter how corrupt or flawed in its behavior, as the best in the planet, comparatively or by default. Never mind the meaning that Mr. Churchill had intended back in 1947, or how the international political panorama has changed during the past seven decades.
These remarks were made by Britain’s prime minister before the House of Commons a few months before there was a changing of the guards in the “Anglo-Saxon Empire” as the Brits gave away their colonial hegemony in favor of the super-influential economic and military power represented by the United States. And that was symbolically marked by Britain’s relinquishing its mandate in Palestine, and the creation of Israel. Continue reading »
The World Heath Organisation has declared that glyphosate, one of the UK’s most popular herbicides marketed as Roundup, is ‘probably carcinogenic’
The World Health Organisation’s cancer agency has declared that one of the UK’s most widely used weedkillers is “probably carcinogenic to humans”.
Amateur gardeners and professional farmers have been urged to “think very carefully” about using the popular herbicide Roundup, which contains glyphosate.
A summary of the International Agency for Research on Cancer’s (IARC) report, published in The Lancet Oncology, said that the herbicide had been detected “in air during spraying, in water, and in food”. Continue reading »
After the UK announced it will join new China-led Asian Infrastructure Investment Bank (AIIB) as a founding member late last week, Germany, France and Italy decided yesterday to follow Britain’s lead and join as well.
Welcome to the beginning of the end of the US dollar’s domination. It’s happening.
For the past few decades America was the undisputed global economic and political superpower.
The entire world happily used the US dollar, and hence, the US banking system. More importantly, the world happily placed its trust in the US government.
But there’s a limit to how irresponsible, reckless, and threatening you can be. Eventually such behavior catches up to you.
It appears the sea of de-dollarization has reached the shores of Europe. With Australia and UK having already moved in the direction of joining the China-led AIIB, The FT reports that France, Germany, and Italy have now all agreed to join the development bank as ‘pivot to Asia’ appears to be Plan B for Europe. As Greg Sheridan previously noted, “the saga of the China Bank is almost a textbook case of the failure of Obama’s foreign policy,” but as The FT concludes, the European decisions represent a significant setback for the Obama administration, which has argued that western countries could have more influence over the workings of the new bank if they stayed together on the outside. As Forbes notes, this leaves Obama with 3 uncomfortable options…
As The FT reports,
France, Germany and Italy have all agreed to follow Britain’s lead and join a China-led international development bank, according to European officials, delivering a blow to US efforts to keep leading western countries out of the new institution.Continue reading »