On 16 July 2012, the Organization of Petroleum Exporting Countries (OPEC) reported that Iran’s oil revenues for 2011 jumped 59%!
Revenue from Iran’s 2011 exported oil and other petroleum products hit $114.8 billion USD. In 2010 Iran’s oil revenue was $72.2 billion.
“Despite major policy actions, financial markets in parts of the region remain under acute stress, raising questions about the viability of the monetary union itself.”-IMF statement
18 July 2012, the International Monetary Fund has declared the European Union (EU) economy as “critical”.
The IMF is also pushing for the creation of a single banking union for the EU. Germany is so far opposed to such an idea.
IMF officials say one of the reasons for the critical economic situation in the EU, is that people are pulling their money out of banks. Example: Some wealthy Greeks pulled their money out of Greek banks and put it into banks of other European countries that were more financially sound. By creating a single EU banking system it would prevent that.
Despite being “critical” the economy of the EU is still bigger than that of the United States, and directly affects U.S. business, which is why so many U.S. investors are glued to news from Europe.
“The problem of the Iranian LCs [Letters of Credit] created by the U.S. and western states’ sanctions against the banking system (of Iran) can be solved by using the banks operating in the Russian regions.”-Alexander Vitalivic, Russian Head of the Iran-Russia Regional Cooperation Workgroup
17 July 2012, Russian officials announced, at the Iran-Russia Regional Cooperation Workgroup meeting, that Russia is willing and able to help Iran avoid any bad economic effects from U.S. and European Union sanctions!
“The presence of small and medium size banks and financial institutions of the (Russian) regions (on the scene of transactions with Iran) will be useful for motivating an increase in exchanges and preventing decrease in exports.”-Alexander Vitalivic
Also, Russian Head of Iran-Russia Joint Trade Council, Yuri Papoyev, announced that Central Bank of Russia (CBR) is ready to make due payments to Iranian parties: “After meetings with the Russian Central Bank officials, they agreed to make due payments and open LCs [Letters of Credit] for Iran in the least time possible.”
“The idea that Americans’ would want to keep total defense spending up so as to preserve local jobs is not supported by the data.”-Steven Kull, Program for Public Consultation
On 16 July 2012, the Program for Public Consultation (run through the University of Maryland) announced that surveys showed both Democrats and Republican voters want to drastically cut tax spending on the U.S. Department of Defense!
The survey was also conducted by the Stimson Center’s Budgeting for Foreign Affairs and Defense program, and the Center for Public Integrity’s National Security program.
According to the survey, 80% of people who consider themselves Democrats favor drastic cuts to the military, but, so do 74% of people who consider themselves Republicans!
And when the survey asked specifically about healthcare spending on military families and retirees, Republicans jumped on that, with a call for cutting that budget by $7.4 billion USD!
Don’t worry Red voters, Democrats also wanted to cut benefits for military families and retirees, but by only $6.6 billion!
More details here.
“…unprecedented degree of government intervention in the financial system…..not the first time LIBOR had come up….It didn’t seem an inappropriate action given that it was coming from the Bank of England.”-Jerry del Missier, statements made to U.K. Parliament
16 July 2012, former chief operating officer of Barclays, Jerry del Missier, told a parliamentary committee that the ‘order’ to manipulate interest and currency rates came directly from the Bank of England!
The Bank of England (BoE) is the central bank of the United Kingdom, similar to the U.S. Federal Reserve Bank. Missier referred to the “lowballing” order from central banks as “…a time when governments were tangibly calling the shots“.
Missier, from Canada, quit his job at Barclays just hours after chief executive, Bob Diamond, resigned.
The LIBOR scandal now involves dozens of Too Big to Fail banks around the western world, and Japan’s TIBOR and European Union’s EURIBOR. The scandal involves banks in North America, Europe and Japan (the regional members of the Trilateral Commission).
And don’t blame Obama, this started under the Bush Jr administration!
Check my blog for other LIBOR reports.
Midnight 16 July 2012, a ceremony was held as Iitate Village, in Fukushima Prefecture, was officially fenced off.
Iitate is now divided into three zones, based on radiation levels.
In the most radioactive area only people with homes in the area are allowed in, but only for a few hours and never overnight!
This is the beginning of government efforts to manage decontamination efforts, more than one year after the Fukushima Daiichi nuclear accident began.
However, 85% of Iitate is woodland and rice fields, and the government has not announced any plans to decontaminate those areas.
“The retail sales numbers were terrible, especially if you factor in that gas prices were lower than what we had been experiencing. It’s disappointing to see that even though (consumers) weren’t spending more on filling up their gas tanks, they weren’t turning around and spending that money elsewhere.”-Kim Forrest, Fort Pitt Capital Group
Can you say: No Shit Sherlock!
16 July 2012, for the third month in a row the average person in the United States has cut back on spending. The oblivious elites are shocked because, gee, gas prices are down.
What the out of touch priests and money changers of the great crony capitalist Temple don’t realize, is that they’ve squeezed so much money out of the system that the average “consumer” doesn’t have any more disposable income to spend, even with reduced gas prices!!!
“I hope this helps. There are protests all the time, and nothing ever happens.”- Inbar Paz, frustrated protester
15 July 2012, in retaliation for conditions which led to an Israeli army reserve veteran setting himself on fire, Israeli Social Justice movement demonstrators attacked a government building.
It’s being reported that more than 2,000 Israelis attacked the Israeli National Insurance Institute, trying to set it on fire, and painting the slogan, Price tag Moshe Silman, around the entrance.
57 year old Silman is in critical condition with 94% of his body burned, after he set himself on fire on 14 July 2012. He was protesting his life long hard work and tax paying in Israel, only to get no help when he became unemployed after having a stroke.
Before burning himself Silman said that Israel “…..robbed me of everything and left me with nothing.”
Protests are taking place in Tel Aviv, Jerusalem, Haifa and Beershaba.
Since the 1970s Israel has become the top receiver of U.S. taxpayer funded grants, most of which goes to buying weapons. Under the Bush Jr administration it jumped to $3 billion USD per year, and the current Obama administration is continuing that trend!
“I can’t afford medication or rent. I paid millions in taxes, I served in the army and in the reserves until I was 46. I won’t be homeless and that is why I am protesting against all the wrongs Israel imposes on people like me.”-Moshe Silman, set self on fire
This statement against the Israeli government is not from an Arab, but an Israeli!
Silman is now in critical condition with 90% of his body burned. He set himself on fire in Tel Aviv, at one of the many anti-elitists protests, which are rapidly spreading throughout Israel.
“He was a completely normative person, who lived in Tel Aviv, but then his business went under. He became a cab driver and suffered a stroke, which left him unemployed.”-Ofer Barkan, Israeli Social Justice movement
14 July 2012 was the first anniversary of the Israeli Social Justice demonstrations. At least 10,000 people took part in the anniversary demonstrations.
By the way, all those taxpayers in the United States should remember that every year their government gives away hundreds of billions of their money to the Zionist Elitist government of Israel, and it all goes to weapons and in the pockets of the zionist elites.
“We are, first of all, opposed to the American visit to Egypt. Why? Because they (Americans) are trying to put pressure on the new presidential institution. And we fundamentally cannot accept any interference in Egyptian affairs!”-Protester attacking Hillary Clinton
15 July 2012, U.S. Secretary of State Hillary Clinton met with Egyptian Field Marshal Hussein Tantawi, supposedly to convince the junta to turn government power over to the newly elected Egyptian President (at least that’s the official report by Chock Full o’Crap western media).
But the Egyptian people (90% Muslim) are not buying that claim, especially since after the meeting Tantawi continues to say he will not give power to anyone who is a member of the Muslim Brotherhood.
In Alexandria protestors threw bottles, tomatoes and shoes at Clinton’s motorcade. Similar protests were held at the Cairo hotel where she was staying Saturday night.
The elected President is the first Egyptian President not connected to the military since 1952. He is a member of the Muslim Brotherhood. Reports say the Obama Administration is asking the junta to go easy on the Muslim Brotherhood, and this has Egyptian Christians upset.
Coptic businessmen and church leaders have issued written objections to U.S. melding in Egyptian politics. Looks like the U.S. is damned if they do and damned if they don’t in Egypt.