Tag Archives: europe

Business/Economics, International, U.S.

Black Horse & What Economic Recovery? Bail out delays; Greece needs loans equal to its total GDP! Greece warned of Third World status. Greeks believe the World is against them, sinister plots

February 20, 2012, European Union finance minister, Johan van Overtveldt, said one of the reasons bail out loans keep getting put on hold is because everyday new problems are revealed.

He says Greece now needs loans at least equal to its GDP, in order to get through the next few years: “So we are talking now about a package that in reality is about 200 billion euros, which happens to be exactly the amount equal to Greek gross domestic product.”

Overtveldt also said what many independent, and traditional economists have been saying; that cuts to Greek government spending will only make things worse: “The negative spiral in which the Greek economy and Greek society have been imprisoned for almost two years will only get worse. The austerity program that is imposed on the country will worsen the recession, which in its turn will worsen the budget outlook.”

He added that it was probably a good thing for Greece to leave the European Union: “It will lead, of course, to a devaluation of the new drachma but that is exactly what is needed to get the economy growing again through international trade.”

In fact many Greeks have been wanting their government to leave the EU, because they think it’s all part of a sinister plot.

Greek author, politician and songwriter, Mikis Theodorakis, says there is a conspiracy to destroy his country: “Germans, for instance, as well as the French, English and Americans, earned billions of Euros from annual sales of war materials, to the detriment of our national wealth….Siemens, for instance, maintained a special department for buying off the influential Greeks in order to sell its products in the Greece market.”

Theodorakis might be right about his beloved Greece being destroyed.  Economist Harlan Green, said the Mediterranean country is on its way to Third World status, and implied that the International Monetary Fund (IMF) was behind it: “Greece is sliding very quickly into being a third world country, and the IMF knows how to deal with third world countries.”

As far as sinister plots go; don’t forget that the new unelected Prime Minister of Greece is a member of the Trilateral Commission!

…there before me was a black horse! Its rider was holding a pair of scales in his hand. Then I heard what sounded like a voice among the four living creatures, saying, “A quart of wheat for a day’s wages, and three quarts of barley for a day’s wages, and do not damage the oil and the wine!”

Business/Economics, International, U.S.

What Economic Recovery? U.S. sanctions against Iran means death knell for French steel factory

On February 20, 2012, French steel workers are occupying the ArcelorMittal steel plant in northeast France.  Two blast furnaces have been shut down since October 2011.

I’ve posted how U.S. sanctions against Iran include the steel industry, and it’s having negative affects, not for Iran but the West!

The shut down of the ArcelorMittal blast furnaces is supposed to be temporary, but last week company officials announced an extension to the shut down.  About 200 employees responded by taking over company offices.  Employees fear the temporary shut down is going to become permanent, no thanks in part to the U.S. and European sanctions against Iran.

Business/Economics, International, U.S.

Government Incompetence & World War 3: United States increasingly isolated over Sanctions against Iran. India and Japan still buying Iranian oil. South Korea gets exemption

“India’s decision to walk out of step with the international community on Iran isn’t just a slap in the face for the U.S. – it raises questions about its ability to lead. The Indian government’s ill-advised statement last week that it will continue to purchase oil from Iran is a major setback for the U.S. attempt to isolate the Iranian government…”-Nicholas Burns, former U.S. Undersecretary of State for Political Affairs

India joins a growing list of countries basically telling the U.S., and U.K., to go stuff themselves.  Indian government officials are working with Indian companies to create a system that will let them pay for Iranian oil with Indian rupees.

In Japan, an affiliate of Royal Dutch Shell, says they will continue buying Iranian oil despite pressure from the U.S. government. Showa Shell Sekiyu KK is Japan’s 5th largest refinery, and uses 100,000 barrels per day of Iranian oil.  Officials say they are affiliated with Royal Dutch Shell, but they operate independently and have their own contracts with Iran.  This is also why Iran has not stopped oil shipments to Japan (Royal Dutch Shell is a British/U.S./Dutch controlled company).

Then there’s South Korea, which has managed to convince U.S. lawmakers to exempt more than 2,000 Korean companies from the sanctions.  Not only that, but South Korea’s Woori Bank, and the Industrial Bank of Korea, do business directly with Iran Central Bank.  Their transactions are done in Korean money, thus avoiding the U.S. petro-dollar.

Business/Economics, International, U.S.

World War 3 & Government Incompetence: Iran shuts down global Steel industries, blame the United States, Russians pissed off. “Iran is King”

“Iran is the only market in the world that can move billet prices and now trading has basically come to a halt.”-unnamed British steel trader

Not only is the U.S. oil sanctions on Iran backfiring, but so are U.S. sanctions on steel sold to Iran!

“Now you can really feel the effects of the sanctions imposed by the U.S. and Europe…It is very difficult to do any business with Iran at the moment.”-unnamed Swiss steel trader

U.S. and European sanctions might have stopped the sale of steel to Iran, but it’s also shutting down U.S. and European steel makers!  Why?  Iran is the biggest buyer of steel billet, and with the biggest buyer of steel out of the game steel prices are dropping like a rock!!!   (unlike oil, where everyone is trying to get their hands on it, thus causing oil prices to go up)

Russia is upset because they supply much of the steel Iran uses (Iran buys 15% of the steel exported by Russia): “Russian producers are not selling to Iran as they need pre-payments and won’t accept letters of credit. If I find a way to do that I won’t tell you. Iran is the king market in steel and if we can find a way to trade with them again we certainly would not share the know-how.”-unnamed Swiss steel trader dealing in Russian steel

Unlike the oil market, where Iran has established a successful trade system that avoids the U.S. dollar and U.S. & U.K. banks, the global steel market is still dominated by U.S. & British banks.  But some Russian’s are hopeful they’ll find a way ’round it: “Steel demand is pretty strong, the problem is the banking system. Russian banks do not have trading lines with Iranian banks to facilitate ruble transactions.”-Dmitry Smolin, URALSIB Capital

 

Business/Economics, International, U.S.

World War 3: Iran cuts off oil supplies for two European countries, oil already more than $120 per barrel

February 19, 2012, Iran has officially shut off oil supplies to oil companies from United Kingdom and France!

“We have our own oil customers and replacements for these companies have already been chosen, and we will sell the crude oil to new customers instead of the British and French companies.”-Alireza Nikzad-Rahbar, Iranian Oil Ministry

However, Britain and France are not major European buyers of Iranian oil (Italy is).  About 3% of oil bought by France comes from Iran, and only 1% makes up Britain’s oil use.

Iran’s move to block oil shipments to Europe came after Europe joined the U.S. in imposing an oil embargo.  Iranian officials have repeatedly said that it’s Western countries that will be hurt most from a loss of Iranian oil.

In some countries the price of a barrel of oil has already gone over $120.00.

International, U.S.

Resolution against Syria passes UN General Assembly, France pushes for new Security Council Resolution

The United Nations General Assembly passed a non-binding resolution calling for Syria’s president to step down.  However, since it is non-binding the UN can not force the issue.

France is making a new push for a new UN Security Council resolution.  This new resolution is focusing on using UN Peacekeeping forces to enforce access to humanitarian aid.  Russia might support such a resolution.

12 countries voted against the UN General Assembly resolution. They are: Bolivia, Belarus, Cuba, China, Ecuador, Iran, Nicaragua, North Korea, Russia, Syria, Venezuela and Zimbabwe.

15 countries abstained: Angola, Armenia, Fiji, Cameroon, Comoros, Myanmar, Namibia, Nepal, Sri Lanka, Saint Vincent, Suriname, Tanzania, Tuvalu, Uganda and Vietnam.

 

International, U.S.

Red Horse & Evil United States: U.S. backed Libyan Rebels make Gaddafi look good

“A year ago Libyans risked their lives to demand justice. Today their hopes are being jeopardized by lawless armed militias who trample human rights with impunity.”-Donatella Rovera, Amnesty International

Amnesty International has documented cases of torture and murder of Libyans, by the U.S. and European backed rebel forces.

A year ago the United States, and European countries, revealed their support for rebellion in Libya.  The reason, they claimed, was to bring freedom and stop human rights violations.  A year later Amnesty International says things are even worse under the rule of the U.S. backed rebels!

“Militias in Libya are largely out of control and the blanket impunity they enjoy only encourages further abuses and perpetuates instability and insecurity.”–-Donatella Rovera, Amnesty International

In the past few weeks Amnesty International visited prisons in Libya.  They found people who had been tortured to the point of confessing to crimes they did not commit.  They also found evidence that at least 12 people had been tortured to death.  The torture included beatings and electrocutions.  So much for the promise of U.S. style freedom and an end to human rights violations!

Observers even witnessed the torture, that’s how confident the U.S. backed rebels feel.  They saw people being beaten mercilessly, one rebel doing the beating said it’s that or kill the prisoners: “…those from Tawargha will not be released or we’ll kill them.”  

Rebels are taking revenge on the people of Tawargha, for their support of Gaddafi.  The ineffectual, and U.S. backed, Trans National Council government is not doing anything to stop rebel militias from wanton tortures and killings.

Then another horse came out, a fiery red one. Its rider was given power to take peace from the earth and to make men slay each other.

Business/Economics, International, U.S.

What Economic Recovery? Italy becomes second European country to officially hit Double Dip Recession, blame increased budget cuts and unemployment

“The budget cuts are weighing it down…The conditions for a recovery in consumption are not there since unemployment hit a new record.”-Chiara Corsa, UniCredit bank

February 16, 2012, for the second month in a row, Italy’s economy shrank.  Two months in a row of contraction, that’s the official sign of recession.

Belgium was the first European country to officially go into a double dip recession. Interestingly this happened after they finally agreed to a new government, following more than a year without one.

 

 

Business/Economics, International, Technology, U.S.

Corporate Crime: 40 years later, two former executives found guilty of the deaths of 2,000 of their Italian employees! Social health care found them out!

“This is the biggest trial in the world, and in history, as far as safety at work is concerned.”-Raffaele Guariniello, prosecutor

In a precedent setting trial in Italy, two former executives of a company that made fiber cement (cement made with asbestos), were found guilty in the deaths of more than 2,000 of their employees!

Another 1,000 employees, and people who lived near the factories, are now ill.  The Italian Health Ministry investigated due to the high rate of health cases hitting their social health care system, that were directly linked to the fiber cement factories.  The investigation revealed that employees were not given even basic safety gear for use around asbestos.  Things like masks and goggles.

One of the former executives is Belgian baron Jean Louis Marie Ghislain De Cartier De Marchienne, the other is Swiss billionaire tycoon Stephan Schmidheiny.

In his defense, Jean Louis Marie Ghislain De Cartier De Marchienne sent a written statement saying that at the time it was not known how deadly asbestos could be.

The factories were closed in 1986, six years before asbestos was banned in Italy.

The two wealthy one percenters face 16 years in prison, if they’re ever caught.  They were convicted in absentia.

Business/Economics, International, U.S.

World War 3: Iranian media reports suggest that Iran is about to cut off oil to 6 European countries, lack of Human Rights in Europe being blamed

February 15, 2012, confusing reports in the Iranian media.  Unofficial sources (like PressTV, it is not an official Iranian media source) are saying that Iran has blocked oil shipments to six European countries.

However, official sources (like Islamic Republic News Agency [IRNA]) say only that ambassadors from six European countries have been summed to the Iranian government, to discuss “issues”.

The six countries are Italy, Spain, France, Greece, Portugal, and Netherlands.

The IRNA is quoting Iran’s Director General of West Europe Affaires at Foreign Ministry, Hassan Tajik: “Our response is that sanctions cannot affect Iranians’ will, rather, it will have an adverse impact on European people. Europe is in a difficult economic condition and is facing a harsh winter. Iran cannot remain indifferent towards EU oil ban. We do not have any problem in terms of finding customers for our oil and selling it to other countries. However, based on humanitarian policies and given the conditions of European countries, we have decided to send a serious message to the Europeans which are parties to oil contracts. We can instantly replace oil customers.”

In other words it seems like Iran has identified which European countries it would cut off, and has given them warning, but they have not actually cut off the oil at this point.

It’s interesting that Iran is implying that violation of human rights within Europe is a main factor in their decision to possibly cut off the oil.