- From Jin Sinclair's Mineset
Filed under: Jim's Mailbox
Jim Sinclair’s Commentary
CIGA Pedro clearly outlines how the demise of the dollar is the demise of much more. Greenspan gave away more than anyone knows.
Gold is your only insurance policy against things we cannot control regardless of the wild fluctuation of the price. We must be our own central bank.
Inflation Inflation Everywhere and Not a Drop to Drink
At last, the doubters have nowhere to hide. The world is starkly revealed as an interconnected political economy force, and not as a disparate grouping of various nations, some authoritarian, some choosing democratically agreed upon policies, creating policy choice and thereby shaping of political outcome. Greece, Ireland, Tunisia, and now, the fulcrum of the Arab world, Egypt, stand as testimony. They are countries caught up in the machinations of a monetary policy to debase the world’s reserve currency.
All “he” wanted was some inflation, a little inflation to get America and the west out of the deflationary spiral caused by the failure of financial instruments (a.k.a. OTC Derivatives) and un-payable government debt – but he can’t get it. Everywhere it rages, but the place he wants it – home. So it erupts in global food prices and manifests itself in the attempts to bail out stone dead banks on the backs of the marginal economic player – post-destruction of the middle class. Most of the world has no savings to get through difficult times. Most of the world cannot “hedge” inflationary outcomes. Those outcomes appear quickly and change realities violently. The inflationary reality is their reality – the difference between starvation and survival. The result? Global upheaval, leading to where, we are not sure… but probably nowhere nice. Think American monetary policy was a uniquely sovereign, American affair? Think again. You are watching QE II live on television. American monetary policy and the global “race to debase” is that raging crowd you see on the television from Ireland to Greece and Egypt. It is that nascent force which Chinese leaders awake in terror, wondering what a billion plus people might do if faced with stark choices. If you can’t make the connection between the monetary policy and the political reality, you need to change the causal way you look at the world.
Nations hold dollars in reserve to meet the demands of running an economy. When debasement takes place, the marginal economic player gets hit first. This is what we see now. But there is another, geo-political aspect many are missing. The western attempts to control multiple political outcomes and a global geo-political/military order rests on the ability to finance and control that order. When the money gets degraded, the ability to finance that order goes with it. Degradation of currency inhibits foreign force projection, both militarily and politically. Nobody in Egypt believes America is capable of controlling political outcomes, as they did from Suez to Mubarak. That era has passed. It passed with the Shah of Iran, and the death of the widely despised (in Egypt) Anwar Sadat. The Mubarak intermezzo is over. In the Arab world, what happens in Egypt doesn’t stay in Egypt. The potential for “regime change” in Saudi Arabia is growing. Now we find that the financial necessity for Dollar debasement wasn’t as politically benign as people in Washington thought. Instability rages across a region that could usher in an era of global conflict.
People say, “be careful what you wish for” when you talk about the end of western hegemony, but while the political hegemony is dying by the hour, the monetary hegemony is currently intact and its results are evident. When those results swing full circle and return to the west, currency upheaval will be guaranteed. Global system breakdown, which made its debut in 2008 is now back for its main act. Money printing didn’t quite work out the way it was supposed to. This time, a rush to the security of Treasury instruments is unlikely to be the fallback position for global capital that now sees Fed monetary policy as a destructive boomerang cutting inflationary swathes across the planet… en route to its place of origin.
- From Wikileaks:
- From Moshe, a respected Jewish activist, Torah scholar and historian:
Mubarak Succumbs to Pressure, Appoints First-Ever Vice President
Suleiman has been a prominent figure in diplomatic ties with Israel and often has acted as a broker in talks between Israel and the Palestinian Authority and between the Fatah and Hamas factions.
Mubarak, who has ruled Egypt since 1981, also named his air force commander and aviation minister, Ahmed Shafik, as prime minister.
The addition of new faces to his regime is aimed at calming the new protest movement, which has been attacked by riot police using the same tactics that are a root cause of the opposition. Egypt has been listed by Amnesty International as one of the worst violators of human rights.
Mubarak said in a televised speech Friday that he would also introduce new political and economic reforms.
Until Mubarak’s dramatic political appointments Saturday, his son Gamal has been considered the prime candidate to succeed his father, who is reportedly suffering from cancer. Gamal Mubarak and his mother and daughter fled last Wednesday to London, according to an Arab news sources, as previously reported by Israel National News. Other sources, including Al Jazeera, confirmed the report on Saturday but then backed off.%ad%
The new positions of Suleiman and Shafik put two military men in top positions as Mubarak tries to avoid a repeat of the revolution in Tunisia, where the army helped overthrow the old regime.
“I think Mubarak is acting on the orders of the military establishment, who clearly value the country’s stability more than they do their president,” John R. Bradley, author of “Inside Egypt: The Land of the Pharaohs on the Brink of a Revolution,” told Bloomberg news service.
The military “will soon offer Mubarak a face-saving way- out, perhaps by announcing that he’s ill again and that Suleiman is to take over until new presidential elections take place,” he said.
In Israel, Prime Minister Binyamin Netanyahu has told Cabinet ministers not to comment on the crisis in Egypt, but Binyamin Ben-Eliezer, who left the Cabinet in the Labor party shake-up last week, said he thinks calm will return to Egypt.
The protest movement could directly affect Israel if Hamas supporters in Gaza take to the streets to protest against Mubarak, whose government has been increasingly critical of the terrorist organization’s sponsoring or allowing rocket and mortar attacks on Israel’s western Negev.
Egypt reportedly took most of its forces away from the sensitive Rafiah border, a center of smuggling of drugs and weapons into Gaza from the Sinai Peninsula. Part of the wall between Gaza and Egypt reportedly has been dismantled.
- debkafile reported earlier Sunday:
Our military sources further report that the Multinational Force & Observers (MFO), most of whose members are Americans and Canadians, are on maximum alert at their northern Sinai base, while they wait for US military transports to evacuate them to US bases in Europe.
- COMMENTARY BY EMANUEL A. WINSTON
- See also Barry Chamish's latest column here:
Elad Pressman, editor of a major Israeli political website, was my guest on my radio show and did he have news! The Daily Telegraph had dug into Wikileaks documents and pieced together a report that convincingly proves the US was behind the violent Egyptian protests.
The American Embassy in Cairo helped a young dissident attend a US-sponsored summit for activists in New York, while working to keep his identity secret from Egyptian state police.
On his return to Cairo in December 2008, the activist told US diplomats that an alliance of opposition groups had drawn up a plan to overthrow President Hosni Mubarak and install a democratic government in 2011. He has already been arrested by Egyptian security in connection with the demonstrations and his identity is being protected by The Daily Telegraph.
The disclosures, contained in previously secret US diplomatic dispatches released by the WikiLeaks website, show American officials pressed the Egyptian government to release other dissidents who had been detained by the police.
At least five people were killed in Cairo alone yesterday and 870 injured, several with bullet wounds. Mohamed ElBaradei, the pro-reform leader and Nobel Peace Prize winner, was placed under house arrest after returning to Egypt to join the dissidents. Riots also took place in Suez, Alexandria and other major cities across the country.
The US government has previously been a supporter of Mr Mubarak’s regime. But the leaked documents show the extent to which America was offering support to pro-democracy activists in Egypt while publicly praising Mr Mubarak as an important ally in the Middle East. In a secret diplomatic dispatch, sent on December 30 2008, Margaret Scobey, the US Ambassador to Cairo, recorded that opposition groups had allegedly drawn up secret plans for “regime change” to take place before elections, scheduled for September this year.
The memo, which Ambassador Scobey sent to the US Secretary of State in Washington DC, was marked “confidential” and headed: “April 6 activist on his US visit and regime change in Egypt.”
It said the activist claimed “several opposition forces” had “agreed to support an unwritten plan for a transition to a parliamentary democracy, involving a weakened presidency and an empowered prime minister and parliament, before the scheduled 2011 presidential elections”. The embassy’s source said the plan was “so sensitive it cannot be written down”.
Ambassador Scobey questioned whether such an “unrealistic” plot could work, or ever even existed. However, the documents showed that the activist had been approached by US diplomats and received extensive support for his pro-democracy campaign from officials in Washington. The embassy helped the campaigner attend a “summit” for youth activists in New York, which was organized by the US State Department.
Cairo embassy officials warned Washington that the activist’s identity must be kept secret because he could face “retribution” when he returned to Egypt. He had already allegedly been tortured for three days by Egyptian state security after he was arrested for taking part in a protest some years earlier.
The protests in Egypt are being driven by the April 6 youth movement, a group on Facebook that has attracted mainly young and educated members opposed to Mr Mubarak. The group has about 70,000 members and uses social networking sites to orchestrate protests and report on their activities. The documents released by WikiLeaks reveal US Embassy officials were in regular contact with the activist throughout 2008 and 2009, considering him one of their most reliable sources for information about human rights abuses.
Elad strongly suggested that I investigate who was behind Mohammed ElBaradei. Look what I discovered! Just a few months ago, Mohammed ElBaradei was paraded on the front cover of the Council On Foreign Relations (CFR) rag, Foreign Affairs, with a headline asking if he could be Egypt's savior. What uncanny foresight, for on the second day of Egyptian protests he showed up in Cairo and was named as the negotiator of The Muslim Brotherhood. So where did he come from? It turns out from the board of an NGO run by CFR muckrakers George Soros and Zbigniew Brzezinski.
- Against the regime, the opposition groups - of which there are at least ten - are just as hamstrung by their failure to produce a leader able to stand up and challenge the president. For lack of any representative figure, they picked the retired nuclear watchdog director Dr. Mohamed ElBaradi to speak for them in negotiations over the transfer of power. Hardly anyone in Egypt knows him: He is better known outside the country having spent many years abroad. Yet, at the same time, ElBaradei sits on the board of a Soros/Brzezinski foundation.
- Go to the George Soros/Zbigniew Brzezinski Crisis Groups Website and you will see that the Egyptian clashes have hit surprisingly close to home for them. That's because none other than their own Mohamed ElBaradei, sitting on their board of trustees, is the self-proclaimed leader of the unrest unfolding across the streets of Cairo. The International Crisis Group's recent condemnation of ElBaradei's detention and admission of his membership amongst "the Group" is accompanied by calls for the government to stop using violence against the protesters.
- A few board members:
- G eorge Soros
- Chairman, Open Society Institute
- Mohamed ElBaradei
- Director-General Emeritus, International Atomic Energy Agency (IAEA); Nobel Peace Prize (2005)
- Javier Solana
- Former EU High Representative for the Common Foreign and Security Policy, NATO Secretary-General and Foreign Affairs Minister of Spain
- U.S. President Barack Obama met with members of Egypt's Islamist opposition movement, the Muslim Brotherhood, earlier this year, according to a report in Thursday editions of the Egyptian daily newspaper Almasry Alyoum. The newspaper reported that Obama met the group's members, who reside in the U.S. and Europe, in Washington two months ago.
Rabbi David Rosen, a prominent commentator on religious affairs, has said
that EU diplomats should start talking to Islamic faith leaders in Egypt in
order to keep the revolution on a peaceful path.
Yes, Israel's President thinks it would be terrific to begin negotiations with the Muslim Brotherhood.
Israel's issues are the same as Egypt's but are hidden behind a charade of democracy. This year's figures reveal that 25% of all Israelis, including over 850,000 children, live beneath the poverty line. The middle class has all but disappeared at 15%, leaving a vast number of poor and unemployed to be ruled by a tiny group of immensely wealthy oligarchs. If you thought
Cairo had a big turnout for its protests, Israel with 1/5 of Cairo's population, drew over 200,000 to protest the Oslo "peace" and the evacuation of Gaza's Jews...to no avail. The government had flipped the organizers with names like Wallerstein and Leiberman and the protests were harmless steam blowing.
It's time Israel joined the Middle East. Get those 200,000 back, led by homeless Gazan Jews and joined by all who live in daily fear of the Shabak (Secret Service), the police, the courts and get them to the President's House to physically oust Shimon Peres from his office.
After that, on to the Knesset.