Oil Slump Forces Rich Arab Countries to Run Deficits

What Lindsey Williams said is coming to pass:
The elite is bankrupting the Arabs and driving them back into the desert by keeping the price of oil below $50/barrel. (Here)

Related article: Once Booming Dubai Goes Bust



Oil is taken for sampling by staff at the Esso oil refinery in Slagentangen, Norway, on May 15, 2008. Photographer: Heidi Wideroe/Bloomberg News

Jan. 14 (Bloomberg) — Tumbling oil prices are forcing many of the richest Persian Gulf states to record budget deficits and limit a critical source of foreign investment for poorer Arab countries.

Central bank governors and finance ministers from the 22- member Arab League gathered in Kuwait City today for a week of meetings on the global financial crisis and Gulf efforts to create a single currency. The conference opened with a minute of silence for the more than 900 Palestinians killed in a 2 1/2-week Israeli offensive in the Gaza Strip.

Crude is now selling at below the budget break-even point for seven of the Arab world’s 10 top oil producers and Saudi Arabia, the world’s biggest exporter, is forecasting its first deficit in at least seven years. Poorer Arab states are facing a fall in foreign investment with Egypt expecting inflows to almost halve this year, according to EFG-Hermes Holding SAE, the largest Arab investment bank by market value.

“We have to find ways to limit the impact which could hurt the Arab economy and make sure economic growth in Arab countries continues at appropriate levels,” Kuwaiti Finance Minister Mustafa Jassim al-Shimali said, referring to the global crisis. “We are not immune to its negative effects.”

Read moreOil Slump Forces Rich Arab Countries to Run Deficits

Paul Craig Roberts On The U.S. Leadership: “They Are Criminals” – The Potential Here Is Far Worse Than The Great Depression

Paul Craig Roberts (born April 3, 1939, in Atlanta, Georgia) is an economist and a nationally syndicated columnist for Creators Syndicate.

He served as an Assistant Secretary of the Treasury in the Reagan Administration earning fame as the “Father of Reaganomics”.

He is a former editor and columnist for the Wall Street Journal, Business Week, and Scripps Howard News Service.

He is a graduate of the Georgia Institute of Technology and he holds a Ph.D. from the University of Virginia.

He was a post-graduate at the University of California, Berkeley, and Oxford University where he was a member of Merton College.

In 1992 he received the Warren Brookes Award for Excellence in Journalism. In 1993 the Forbes Media Guide ranked him as one of the top seven journalists in the United States. (Wikipedia)


Added: January 11, 2009
Source: YouTube

Don’t Miss:

Willem Buiter warns of massive dollar collapse

Peter Schiff: The Fed’s Bubble Trouble

Peter Schiff: We are on the verge of another major crisis

Ron Paul: ‘The Palestinians Are Virtually In Like A Concentration Camp’
(It is important what Dr. Paul has to say about the dollar, debt etc.)

Lindsey Williams: The Dollar And The US Will Collapse; Saudi Arabia And Dubai Will Fall; US Will Be Third World Country; The Greatest Depression Is Coming

Peter Schiff: US Dollar is on the verge of collapse; This is hyperinflation; This is Zimbabwe (12/17/2008)

Gerald Celente: The Coming Revolt

The US Government is Going to Default

China Losing Taste for Debt From the U.S.

Gulf Cooperation Council to Create New Currency

The Gulf Arab nations are now all fighting for their survival, because their future economic calculations and decisions are all based on much higher oil prices.

Don’t miss:
Lindsey Williams: The Dollar And The US Will Collapse; Saudi Arabia And Dubai Will Fall; US Will Be Third World Country; The Greatest Depression Is Coming

Peter Schiff: US Dollar is on the verge of collapse; This is hyperinflation; This is Zimbabwe (12/17/2008)

Gerald Celente: The Coming Revolt


The breaking of their dollar pegs by the Gulf Arab nations is clearly dollar negative. Any inclusion of gold either as a part of the monetary basket, or in the reserves of the new GCC Central Bank will create additional demand for the precious metal.

Related article: Will the New GCC Single Currency Include Gold?

Gulf Cooperation Council leaders yesterday concluded their 29th annual summit meeting in Muscat, Oman with a final approval for the creation of a single currency for the six-nation economic bloc, still targeted for 2010.

Saudi Arabia is the largest economy in the GCC and boasts substantial gold reserves. But whether gold will be included in the currency basket has not yet been decided.

Golden opportunity

GCC assistant secretary-general Mohammad Al Mazroui told Gulf News: ‘We first have to decide on the location of the Central Bank, then the Central Bank and Monetary Council will have to decide on the gold reserves for the Central Bank’.

The creation of the GCC single currency – likely to be known as the Khaleeji which means Gulf in Arabic – is a major gold event for two reasons.

First, the breaking of their dollar pegs by the Gulf Arab nations is clearly dollar negative. Secondly, any inclusion of gold either as a part of the monetary basket, or in the reserves of the new GCC Central Bank will create additional demand for the precious metal.

Read moreGulf Cooperation Council to Create New Currency

Gulf stocks plummet in turbulent year; Dubai shedding almost three quarters of its value

KUWAIT CITY: Stock markets in the Gulf states yesterday ended 2008 sharply lower as the energy-dependent economies were battered by the global financial crisis while oil prices plummeted. Most of the seven markets witnessed their worst year ever with the bourse of the bustling Dubai shedding almost three quarters of its value and the Saudi market, the largest in the Arab world, slumping by more than half.

Related interview:
Lindsey Williams: The Dollar And The US Will Collapse; Saudi Arabia And Dubai Will Fall; US Will Be Third World Country; The Greatest Depression Is Coming
More Gulf industrial projects at risk after Dow

More than $515bn were wiped off of their market value as their capitalisation stood at just $600bn compared to $1.116 trillion at the end of 2007. “It was a year of contradictions as share prices rose sharply in the first half but nosedived in the second half similar to the oil price scenario,” Kuwaiti economist Hajjaj Bukhdur said.

“The impact of the global financial crisis on the Gulf economies was much deeper than initially thought. Gulf stocks slumped even more than bourses in the West where the crisis began,” Bukhdur said. The Saudi Tadawul All-Shares Index (TASI) dropped 56.5 percent to close the year at 4,802.99 points, down from 11,175.96 points at the end of 2007. It was pulled down by a sharp slide in the leading banks and petrochemicals sectors.

Kuwait Stock Exchange, the second largest in the Arab world, shed 38 percent to finish the year at 7,782.60 points, almost a four-year low. However, it was down 50.3 percent from its all-time high set in late June. In the United Arab Emirates, the Dubai Financial Market slid 72.4 percent to close at 1,636.29 points, near its four-year low.

Read moreGulf stocks plummet in turbulent year; Dubai shedding almost three quarters of its value

Lindsey Williams: The Dollar And The US Will Collapse; Saudi Arabia And Dubai Will Fall; US Will Be Third World Country; The Greatest Depression Is Coming

Part 1: Lindsey Williams on The Alex Jones Show

Source: YouTube

Part 2: Lindsey Williams on The Alex Jones Show

Source: YouTube

Part 3: Lindsey Williams on The Alex Jones Show ‘Update’

Source: YouTube

Related video: The Energy Non-Crisis by Lindsey Williams
Lindsey Williams talks about his first hand knowledge of Alaskan oil reserves larger than any on earth. And he talks about how the oil companies and U.S. government won’t send it through the pipeline for U.S. citizens to use.

US seeks $ 300 billion from Gulf states: report


One hundred riyal notes at a bank in Riyadh, the Saudi Arabian capital. The US has asked four oil-rich Gulf states for close to US$300 billion to help it curb the global financial meltdown, Kuwait’s daily Al-Seyassah has reported.
(AFP/File/Hassan Ammar)

KUWAIT CITY (AFP) – The United States has asked four oil-rich Gulf states for close to 300 billion dollars to help it curb the global financial meltdown, Kuwait’s daily Al-Seyassah reported Thursday.

Quoting “highly informed” sources, the daily said Washington has asked Saudi Arabia for 120 billion dollars, the United Arab Emirates for 70 billion dollars, Qatar for 60 billion dollars and was seeking 40 billion dollars from Kuwait.

Al-Seyassah said Washington sought the amount as “financial aid” to face the fallout of the financial crisis and help prevent its economy from sliding into a painful recession.

The daily said the United States plans to use the funds to help the ailing automobile industry , banks and other companies suffering from the global financial turmoil.

Read moreUS seeks $ 300 billion from Gulf states: report

Pirates Demand $25 Million Ransom for Hijacked Tanker


An undated handout photo, provided to the media on Thursday, Nov. 20, 2008, shows the Sirius Star Saudi oil supertanker. Source: U.S. Navy via Bloomberg News

Nov. 20 (Bloomberg) — Somali pirates are demanding $25 million in ransom to release an oil-laden Saudi supertanker seized off the East African coast, and called on the ship’s owners to pay up “soon.”

“What we want for this ship is only $25 million because we always charge according to the quality of the ship and the value of the product,” a man who identified himself as Abdi Salan, a member of the hijacking gang, said in a telephone interview from Harardhare. The town is in Somalia’s semi-autonomous northern Puntland region close to where the ship is anchored. He didn’t give a deadline or say what would happen if the money isn’t paid.

The Sirius Star, which belongs to Saudi Arabia’s state-owned shipping line, Vela International Marine Ltd, and its crew of 25 were seized about 420 nautical miles (833 kilometers) off Somalia on Nov. 15. It is carrying more than 2 million barrels of crude valued at about $110 million. Very Large Crude Carriers cost about $148 million new.

Read morePirates Demand $25 Million Ransom for Hijacked Tanker

Pirates hijack oil supertanker carrying oil worth $100m


The Saudi-owned crude oil supertanker “Sirius Star” is seen in Rotterdam on October 17, 2008. REUTERS/Adri Schouten

DUBAI (Reuters) – Somali pirates have captured a fully laden Saudi supertanker far off east Africa, seizing the biggest vessel ever hijacked with a cargo of oil worth over $100 million in an attack that pushed world crude prices higher.

The U.S. Fifth Fleet said the Sirius Star was being taken to the pirate haven of Eyl, in northern Somalia, on Monday.

The hijacking of the Saudi Aramco-owned vessel on Sunday is certain to add to pressure for concerted international action to tackle the growing threat posed by pirates from anarchic Somalia to one of the world’s busiest shipping routes.

“This is unprecedented. It’s the largest ship that we’ve seen pirated,” said Lt Nathan Christensen, a spokesman for the Fifth Fleet. “It’s three times the size of an aircraft carrier.”

Read morePirates hijack oil supertanker carrying oil worth $100m

Saudi Arabia buys $3.5bn of gold in two weeks

There has been an unprecedented surge in Saudi gold purchases in the past two weeks with over $3.5 billion being spent on the yellow metal, reported Gulf News citing local industry sources.

Gold market expert Sami Al Mohna told the leading regional newspaper that this buying had substantially increased the gold reserves of the country: ‘Many Saudi investors see this as the right time for making investments in gold as the price is the most reasonable one at present’.

He said gold was seen as a traditional safe haven at a time of global financial turmoil. Gulf regional stock markets have fallen very sharply since early October, leading to an exodus of cash which needs to find a safe haven.

Gold is currently trading at prices similar to a year ago, and 30 per cent off its March peak. Saudi investors clearly think this is the right time to buy and are piling into gold.

Read moreSaudi Arabia buys $3.5bn of gold in two weeks

Financial tempest spreads to the Gulf states

As stocks slid Sunday in Kuwait, a group of investors showed up at the Seif Palace, where they were met by the police, and tried to demand government intervention. (Gustavo Ferrari/AP)

The global economic crisis extended its reach into the Gulf states Sunday, as Kuwait suspended trading in shares of a major bank and the Saudi authorities announced a plan to help citizens receive credit.

The Central Bank of Kuwait halted trading in Gulf Bank, one of the country’s largest lenders, after a customer defaulted on a derivatives contract. The central bank said it would “strongly support the bank’s financial position” and protect depositors, to assure the public that Gulf Bank’s business “will not be affected.”

The central bank also said it was moving toward guaranteeing deposits at local banks. Many other countries have already taken that step, putting lenders in countries with no guarantee at a disadvantage.

In Saudi Arabia, always sensitive to potential unrest, King Abdullah said that 10 billion riyals, or $2.7 billion, would be placed in an account in the Saudi Bank of Credit & Saving to enable the bank to help hundreds of thousands of citizens get loans for family needs including marriages and home repairs.

Read moreFinancial tempest spreads to the Gulf states

Russia’s new Great Game


Vladimir Putin (left), then the president of Russia, met with Muammar Qaddafi, the Libyan leader, in April to discuss arms, energy and debt. AFP

Employing strategies redolent of a new Great Game, Russia has stepped up its diplomatic and trade activities in the Middle East and North Africa in a bid to enhance its geopolitical clout and gain access to, and at least partial control over, the region’s oil and gas reserves.

Among the former global superpower’s tactics: linking arms deals and debt-forgiveness to energy deals.

The strategy has been most apparent in former client states of the ­Soviet Union including Libya, Iraq and Syria, although by no means limited to such countries. Moreover, Moscow has not shied away from courting the authoritarian regimes of countries such as Iran, Syria and Libya that are or have been shunned by the US and other western governments.

Read moreRussia’s new Great Game

CENTCOM’s Master Plan and U.S. Global Hegemony

Many people deny that the U.S. government presides over a global empire. If you speak of U.S. imperialism, they will fancy that you must be a decrepit Marxist-Leninist who has recently awakened after spending decades in a coma. Yet the facts cannot be denied, however much people’s ideology may predispose them to distort or obfuscate those facts.

How can a government that maintains more than 800 military facilities in more than 140 different foreign countries be anything other than an imperial power? The hundreds of thousands of troops who operate those bases and conduct operations from them, not to mention the approximately 125,000 sailors and Marines aboard the U.S. warships that cruise the oceans, are not going door to door selling Girl Scout cookies. United States of America is the name; intimidation is the game.

Read moreCENTCOM’s Master Plan and U.S. Global Hegemony

Saudis offer Moscow billions to break with Tehran

MOSCOW – Saudi Arabia has offered to buy Russian arms worth 2.4 billion dollars (1.5 billion euros) if Moscow stops supporting Iran, a Russian newspaper reported Tuesday, citing diplomatic sources.

“The kingdom’s government advised Moscow to cease its cooperation with Tehran, and in exchange it held out the prospect of profitable contracts with Saudi Arabia,” the daily business newspaper Kommersant wrote.

The report came one day after Russian Prime Minister Vladimir Putin met with the General Secretary of Saudi Arabia’s Security Council, Prince Bandar bin Sultan.

Citing sources in Russia’s defence industry, the newspaper said Saudi Arabia was ready to buy at least 100 BMP-3 combat vehicles, 150 T-90 tanks and 160 Mi-17, Mi-26 and Mi-35 helicopters.

Read moreSaudis offer Moscow billions to break with Tehran

Scott Ritter: Iran Shows Its Cards


Iranian President Mahmoud Ahmadinejad, far left, sits with officers during a military parade last year.

By Scott Ritter: Former chief weapons inspector for the United Nations Special Commission in Iraq

There can no longer be any doubt about the consequences of any U.S. and/or Israeli military action against Iran. Armchair warriors, pundits and blustering politicians alike have been advocating a pre-emptive military strike against Iran for the purpose of neutralizing its nuclear-related infrastructure, as well as retarding Iran’s ability to train and equip “terrorist” forces on Iranian soil before dispatching them to Iraq or parts unknown. Some, including me, have warned of the folly of such action, and now Iran itself has demonstrated why an attack would be insane.

Related articles:
President George W Bush backs Israeli plan for strike on Iran
Iran does not intend to wipe out Israel, says Ahmadinejad
Ron Paul: Iranians Tested Missiles AFTER Israel had WAR GAMES

I’ve always pointed out that no plan survives initial contact with the enemy, and furthermore one can never forget that, in war, the enemy gets to vote. On the issue of an American and/or Israeli attack on Iran, the Iranian military has demonstrated exactly how it would cast its vote. Iran recently fired off medium- and long-range missiles and rockets, in a clear demonstration of capability and intent. Shipping through the Strait of Hormuz, regional oil production capability and U.S. military concentrations, along with Israeli cities, would all be subjected to an Iranian military response if Iran was attacked.

Read moreScott Ritter: Iran Shows Its Cards

US Congress approves Israel aid increase

(The economy is falling apart, the former middle class is living in their cars, the U.S. are broke but….

The US Congress has approved a 170 million dollar increase in security assistance to Israel as part of its new 10-year, 30 billion dollar defense aid commitment to the Jewish state.

The money for Israel was part of a larger supplemental spending bill that included 162 billion dollars for the wars in Iraq and Afghanistan. The legislation gained final approval in a 92-6 Senate vote late Thursday.

America’s pro-Israel lobby, the American Israel Public Affairs Committee, welcomed the congressional action, saying it would increase US aid to Israel to 2.55 billion dollars in fiscal year 2009, up from 2.38 billion dollars this year.

“The US commitment to maintaining Israel’s qualitative military edge is the cornerstone of American policy in the region,” AIPAC said in a statement Friday.

…and this is how Israel will spend the money:

Israel flexes muscles with Iran attack drill

Israel launches ‘Iran Command’ for war

A human rights crime in Gaza By Jimmy Carter

Israeli siege leads to soaring anemia in Gaza newborns

Israel Causes UN Food Aid Relief For Gaza to Halt

U.N. chief condemns Israel after Gaza clash

…What should be done? Michael Scheuer, Former Head of the CIA Bin Laden Unit:

ISRAEL is NOT WORTH A SINGLE AMERICAN LIFE OR DOLLAR

The Infinite Unknown)

“This year’s package holds heightened significance for US security interests, as the US and Israel face new challenges from Iran’s drive to acquire nuclear weapons as well as the growing influence of radical anti-western forces to Israel’s south in Gaza and to the north in Lebanon.”

The package was unveiled by Secretary of State Condoleezza Rice on July 30 as part of a new military pact with US allies in the Middle East in a bid to “counter the negative influences” of militant groups Al-Qaeda and Hezbollah as well as arch enemies Iran and Syria.

The aid includes a 20 billion dollar weapons package for Saudi Arabia, a 13 billion dollar package for Egypt, and reportedly arms deals worth at least 20 billion dollars for other Gulf states.

The military aid to Israel reflected an increase in value of more than 25 percent, Israel Prime Minister Ehud Olmert has said, describing the package as a considerable improvement and very important element for national security.

Read moreUS Congress approves Israel aid increase

Big Brother law stirs outrage in Sweden

Sweeping new powers under which the Swedish security services can monitor private phone calls, e-mails and text messages are expected to come into force this week under legislation that has prompted outrage in the country.

Politicians, businesses, privacy campaigners and individual citizens have lined up to criticise the proposed law, which the Swedish Parliament will vote on tomorrow.

The Bill would grant the country’s intelligence agencies access to cross-border e-mails, phone calls, text messages and faxes, and empower them to monitor websites visited by Swedish citizens.

Since Scandinavia’s telephone network often routes local phone calls through exchanges in neighbouring countries, internet data and calls passing through Sweden on its way between two other countries would also fall within the jurisdiction of the new law.

Press freedom and individual privacy have traditionally been sacrosanct in Sweden, but fears about international crime and terrorism have prompted the country’s centre-right Government to extend the powers of the security services.

Previously, the state could apply for permission to monitor communications if illegal activity was suspected. Under the new law, government agents will be allowed to monitor messages by default.

Thousands of voters have contacted their MPs, urging them to vote against the proposals, but the law is expected to pass.

Dagens Nyheter, Sweden’s leading quality newspaper, compared it with the powers of the Stasi secret police in the former East Germany, and Google said that it would stay out of Sweden if the law is passed.

“We have made it clear to the Swedish authorities that we will never place any Google servers in Sweden if this proposition becomes reality,” Peter Fleischer, a Google spokesman, said. “This proposal seems like something invented by Saudi Arabia and China. It has no place in a Western democracy.”

Journalists have also complained that the law would damage their ability to protect sources.

Tomorrow’s vote comes a month after The Times revealed plans to establish a database containing details of phone calls and e-mails in the UK. The information would be held for at least a year and the police and security services would be able to access it if given permission from the courts.

June 16, 2008
Marcus Oscarsson, Stockholm

Source: The Times

How Iran Has Bush Over a Barrel


An aircraft of Iran’s elite Revolutionary Guards flying over an oil tanker in the Persian Gulf. AFP / Getty

If wasn’t clear before it should be now: the Bush Administration can’t afford to attack Iran. With gas already at $4 a gallon and rising almost every day, Iran figuratively and literally has the United States over a barrel. As much as the Administration is tempted, it is not about to test Iran’s promise to “explode” the Middle East if it is attacked.

The Iranians haven’t been shy about making clear what’s at stake. If the U.S. or Israel so much as drops a bomb on one of its reactors or its military training camps, Iran will shut down Gulf oil exports by launching a barrage of Chinese Silkworm missiles on tankers in the Strait of Hormuz and Arab oil facilities. In the worst case scenario, seventeen million barrels of oil would come off world markets.

One oil speculator told me that oil would hit $200 a barrel within minutes. But Iran’s official news agency, Fars, puts it at $300 a barrel. I asked him if Iran is right, what does that mean?

“Four-dollar-a-gallon of gasoline only reflects $100 oil because the refiners’ margins are squeezed,” he said. “At $300, you have $12 a gallon of gasoline and riots in Newark, Los Angeles, Harlem, Oakland, Cleveland, Detroit, Dallas.”

Read moreHow Iran Has Bush Over a Barrel

IEA inquiry into whether oil supplies will run dry by 2012

The International Energy Agency has ordered an inquiry into whether the world could run out of oil in four years’ time, it was reported yesterday.

The IEA has concerns about what might happen in 2012, when demand for oil, boosted by the rapid growth of the Chinese and Indian economies, is expected to have reached 95 million barrels a day. Global supply at that point is projected at only 96 million barrels a day. Such a thin margin would be vulnerable to any sudden supply crisis in volatile countries such as Nigeria, Venezuela or Iraq, now estimated to have overtaken Saudi Arabia as the biggest oil nation.

The IEA said its inquiries would form part of short and long-term forecasts to be published in July and again in November. Its energy research chief, Lawrence Eagles, said: “Up to now we have believed that supply can cope with demand. One caveat is that we don’t know for certain whether estimates of reserves in countries such as Saudi Arabia are entirely accurate.”

John Waterlow, analyst at oil research consultancy Wood Mackenzie, commented: “Many oil-producing countries are closed, secretive societies where it can be difficult to pinpoint the level of provable reserves.”

The IEA’s inquiry follows last week’s new record high for black gold at $135 a barrel, fuelling inflation and possible world recession.

Read moreIEA inquiry into whether oil supplies will run dry by 2012

U.S. Will Attack Iran

Israel’s Army Radio is reporting that President Bush intends to launch a military strike against Iran before the end of his term.

The Army Radio, a network operated by the Israeli Defense Forces, quoted a government source in Jerusalem. The source disclosed that a senior official close to Bush said in a closed meeting that Bush and Vice President Dick Cheney believed military action against Iran was now called for.

Bush concluded a trip to Israel last week, where he said, “The objective of the United States must be to . . . support our strongest ally and friend in the Middle East.”

The Radio report, which was quoted by the Jerusalem Post, disclosed that the recent turmoil in Lebanon, where the Iranian-backed group Hezbollah had seized virtual control of the country, was encouraging an American attack.

Hezbollah’s aggression in Lebanon is seen as evidence of Iranian President Mahmoud Ahmadinejad’s growing influence, and the U.S. official said that in Bush’s view, “the disease must be treated, not its symptoms,” according to the Post.

The White House on Tuesday denied the Army Radio report, saying in a statement: “As the president has said, no president of the United States should ever take options off the table, but our preference and our actions for dealing with this matter remain through peaceful diplomatic means. Nothing has changed in that regard.”

However, numerous signs point to a U.S. strike on Iran in the near future:

# A leading member of America’s Jewish community told Newsmax in April that a military strike on Iran was likely and that Vice President Cheney’s March trip through the Middle East came in preparation for the U.S. attack.

# The Air Force recently declared the B-2 bomber fleet – a critical weapons system in any U.S. attack on Iran – as airworthy again. The Air Force had halted B-2 flights after a February crash in Guam. As Newsmax reported, the Air Force has refitted its stealth bombers to carry 30,000-pound “bunker buster” bombs, needed to destroy Iran’s hardened nuclear facilities.

# A second U.S. aircraft carrier, the USS Abraham Lincoln, joined the carrier USS Harry S. Truman in the Persian Gulf in May, carrying far more weaponry and ammunition than on previous deployments.

# Israel is gearing up for war. In April, it conducted its largest homeland military exercises ever. The Jewish-American source said Israel is “preparing for heavy casualties,” expecting to be the target of Iranian retribution following the U.S. attack.

# Saudi Arabia is taking steps to prepare for possible radioactive contamination from U.S. destruction of Iran’s nuclear facilities. The Saudi government reportedly approved nuclear fallout preparations a day after Cheney met with the kingdom’s highest-ranking officials.

# The USS Ross, an Aegis-class destroyer, has taken up station off the coast of Lebanon. Military observers speculate it is there to help defend Israel from missile attacks.

Adm. Michael Mullen, the chairman of the Joint Chiefs of Staff, said at a recent Pentagon briefing that the Iranians are systematically importing and training Shiite militia fighters, who slip back across the Iraqi border to kill American troops.

And Israeli intelligence has predicted that Iran will acquire its first nuclear device in 2009, much earlier than previous U.S. estimates.

Tuesday, May 20, 2008 12:40 PM
By: Newsmax Staff

Source: Newsmax.com

Middle East: Beating the Drums of War

“In a regional war scenario, Israel will deal mainly with Lebanon and Syria while the U.S. and Britain will deal mainly with Iran. [51] The help of Turkey and NATO will definitely be needed by Israel, America, and Britain in such a war. Ankara and NATO will also be involved in both fronts. [52]

NATO has already built a presence on the western borders of Syria and Lebanon and inside Afghanistan on the eastern borders of Iran with forward positions. Israeli officials such as Shaul Mofaz have also stated, in no uncertain terms, that if they launch an attack on Iran, the U.S. and NATO will come to the aid of Tel Aviv.”

_________________________________________________________________________________________

Israel, Syria, and Lebanon Prepare the “Home Fronts”


The Levant could be the starting point of a major international conflict with global ramifications and which could quickly spin out of control. Such a conflict could even involve the use of Israeli or American nuclear weapons against Iran and Syria. Syria has additionally declared that it is preparing for an inevitable war with Israel despite the fact that it believes that the chances of a war in 2008 are slim. (They are not slim at all. – The Infinite Unknown)

Read moreMiddle East: Beating the Drums of War

Iran dumps U.S. dollars in oil transactions

TEHRAN – Iran had totally removed U.S. dollars in the country’s oil transactions, an Oil Ministry official said on Wednesday.

“The dollar has completely been removed from our oil trade….Crude oil customers have agreed with us to use other currencies (in the trade),” Oil Ministry official Hojjatollah Ghanimifard was quoted as saying by the state television.

“We make our transactions with euros in Europe, but yen in Asia,” he added.

Due to the tensions with Washington in the past years over the nuclear disputes and the latest depreciation of dollars, Iran has vowed to decrease the greenback in its foreign trade. Iran central bank also has reduced dollars in the country’s foreign reserves. In last November’s summit of the Organization of Petroleum Exporting Countries (OPEC) in Saudi Arabia, Iran proposed that it was necessary to replace the U.S. dollar with other major hard currencies in oil trading.

(In the past such actions were enough for the U.S. to start a war. – The Infinite Unknown)

Read moreIran dumps U.S. dollars in oil transactions

The Collapsing Dollar – Authorities lose patience

Jean-Claude Juncker, the EU’s ‘Mr Euro’, has given the clearest warning to date that the world authorities may take action to halt the collapse of the dollar and undercut commodity speculation by hedge funds.


Jean-Claude Juncker, who is calling for Washington to
take steps to halt the slide of the dollar

Momentum traders have blithely ignored last week’s accord by the G7 powers, which described “sharp fluctuations in major currencies” as a threat to economic and financial stability. The euro has surged to fresh records this week, touching $1.5982 against the dollar and £0.8098 against sterling yesterday.

“I don’t have the impression that financial markets and other actors have correctly and entirely understood the message of the G7 meeting,” he said.

Mr Juncker, who doubles as Luxembourg premier and chair of eurozone financiers, told the Luxembourg press that he had been invited to the White House last week just before the G7 at the urgent request of President George Bush. The two leaders discussed the dangers of rising “protectionism” in Europe. Mr Juncker warned that matters could get out of hand unless America took steps to halt the slide in the dollar.

Read moreThe Collapsing Dollar – Authorities lose patience

Source: U.S. Strike on Iran Nearing

Contrary to some claims that the Bush administration will allow diplomacy to handle Iran’s nuclear weapons program, a leading member of America’s Jewish community tells Newsmax that a military strike is not only on the table – but likely.

“Israel is preparing for heavy casualties,” the source said, suggesting that although Israel will not take part in the strike, it is expecting to be the target of Iranian retribution.

“Look at Dick Cheney’s recent trip through the Middle East as preparation for the U.S. attack,” the source said.

Cheney’s hastily arranged 9-day visit to the region, which began on March 16, included stops in Israel, Saudi Arabia, Iraq, Oman, Turkey, and the Palestinian territories.

Tensions in the region have been rising.

While Israel was conducting the largest homefront military exercises in its history last week, Israel’s National Infrastructure Minister Binyamin Ben-Eliezer warned Tehran about expected attacks on the Jewish state.

“An Iranian attack will prompt a severe reaction from Israel, which will destroy the Iranian nation,” he said.

He predicted that in a future war, “hundreds of missiles will rain on Israel,” but added that Iran “is definitely aware of our strength.”

Read moreSource: U.S. Strike on Iran Nearing

China executes 9 people a week, says Amnesty

China is executing at least nine prisoners a week and sentencing a further 35 to death, according to Amnesty International.

In a report published today, the human rights group says that while China tries to keep the figures a state secret, the country put to death at least 470 people last year, making it the world’s most prolific executioner,

At least 1,252 people were executed in 24 different countries last year, while 3,347 were sentenced to death in 51 countries. Amnesty adds that some 27,500 people are now on death row around the world.

Second to China was Iran with 317 executions, followed by Saudi Arabia on 143, Pakistan on 135 and the United States on 42.

Read moreChina executes 9 people a week, says Amnesty

Jim Rogers: China’s Economic Advance is All But Unstoppable

“The only thing that worries me permanently about the China story is water.

I’ve been around the world twice. I’ve seen many cities, societies, [and] nations that disappeared because the water disappeared. China has a huge water problem. In Northern China, they’re running out of water. They know this and they’re working on it, big time. But if they don’t solve it, or if they don’t solve it in time, then China – as you put it – has failed.

By the way, Northern India has the same problem, only worse. Many places have it now. Water is becoming a huge problem worldwide. The same is true in the Southwestern United States. You know, you may have Arizona going to war with California. Some sections of Nevada, Colorado …they’re desperate there.

So it’s not just China – but water’s the main thing that worries me about China.”

(As I said: In ten years the glaciers in the Himalaya region will be gone and 50% of the worlds population will have not enough or no water at all. The governments know this and they won’t sit & wait and do nothing about it. There will be World Water Wars.
And if China where to lose a million soldiers in a war so what. To them their soldiers have the same worth than to the US their soldiers in Iraq: They are considered as canon fodder.
If you think that this is wrong than I recommend the movie “NO End In Sight” (2007) as a first eye-opener.
Please read the whole article. – The Infinite Unknown)

Read moreJim Rogers: China’s Economic Advance is All But Unstoppable