If the turmoil paralyzing parts of the Middle East and North Africa brings oil production in Libya and Algeria to a standstill, it could cause crude oil to explode to $220 a barrel, derailing the global economic recovery.
World economy will fall if revolts spread to S. Arabia
“If something like we have seen in Egypt or Libya happens in Saudi Arabia, we’re talking about a catastrophic scenario that will bring a global economic meltdown.”
“The world needs to wake up to the fact that if a country like Saudi Arabia follows the same path we’ve seen in Egypt, Tunisia and Libya, it would be a very, very dangerous situation for every economy in the world – the rich and poor alike,” said Luft. “The first thing that will happen is, the poor people of the world will starve; there will be no oil to distribute food in places like Africa. Then all the world markets will collapse.”
Unfortunately, the unrest appears to be spreading rapidly and now reaching northern Africa:
'Days of Rage' Spreading to Africa?
The government of Zimbabwe has arrested dozens of political activists in an attempt to stop protesters from igniting a “Day of Rage.” The 45 activists were indicted Wednesday on charges of treason after watching videos of North African protests.
Police testified the activists were discussing the possibility of holding similar demonstrations in Zimbabwe. Among the group were trade unionists, student leaders and their organizer, Munyaradzi Gwisai, leader of the International Socialist Organisation.
More ominous news from Syria:
Satellite Photos: More Nuclear Sites in Syria
Western intelligence agencies have detected another nuclear plant in Syria – in a Damascus suburb.
Following Israel’s bombing of a nuclear production plant in Syria over three years ago, another nuclear complex, albeit smaller, has now apparently been found, following close analysis of satellite photos
The small, two-building complex reported by the German paper is located in Marj al-Sultan, adjacent to a military base - 15 kilometers east of Damascus.
The images of the smaller building show chemical equipment apparently made of stainless steel, as "would be expected in a uranium conversion plant," according to Western intelligence officials who wished to remain anonymous.
This is very interesting for two reasons: 1) The close proximity to Damascus (consider the pending destruction of Damascus) and 2) Israel will be forced to either ignore this complex or destroy the complex. The decision is binary. So how will Israel handle this new information? Stay tuned for this one.
Iran warships dock in Syria
Two Iranian warships have docked in Syria, a military commander said on Thursday, dismissing Israeli condemnations of the manoeuvre as a "provocation."
Coinciding with political turmoil in Egypt and elsewhere in the Arab world, Iran's decision to send warships close to Israeli territory has rattled politicians in the Jewish state.
NZ quake death toll at 98; 120 bodies under rubble; 226 missing
New Zealand Quake was '1 of 5000 Aftershocks'
The Inflation Disaster is Near
Five dollar a gallon gas will shatter the Federal Reserve's tightly constrained lid on inflation and accelerate the other half our long anticipated "double dip" recession.
Already the increases in food and clothing prices have been felt at the cash register. Disposable income will inevitably drop along with consumer demand for domestic cars and trucks,
In 2009, the United States still imported 51% of all its petroleum requirements, both crude and refined. This continues to be an unacceptably high number in our quest for energy independence. Gas prices remain hostage to the increasing hostile regimes that sell us oil.
IMF says weaker dollar would help global growth
To address global imbalances, the G20 should allow the dollar to fall, the Washington-based institution said.
"Some further real effective depreciation of the US dollar would help ensure a sustained decline of the US current account deficit towards a level more consistent with medium-term fundamentals, helping to support more balanced growth," the IMF said.
Oklahoma Police Captian Faces Disciplinary Action for Refusing to Attend Islamic Event
The Tulsa Police Deptartment is investigating a captain who refused an order to assign officers to attend an upcoming Islamic event because he said it would violate his religious beliefs.
Capt. Paul Fields was reassigned after he refused to order officers under his command to attend the Islamic Center of Tulsa’s Law Enforcement Appreciation Day, a spokesman for the department said.
“It is my opinion and that of my legal counsel that forcing me to enter a Mosque when it is not directly related to a police call for service is a violation of my Civil Rights,” Fields wrote in an internal police department memo obtained by Fox News.
And finally, this in from Debka:
Hamas Iran-made missiles hit Beersheba as Iranian warships dock in Syria
Israel's security leaders ought not to have been surprised when Hamas fired two long-range Iranian-made Grad missiles Wednesday night, Feb. 23 at the Negev cities of Beersheba and Netivot.
The attack occurred exactly when Iranian Navy commander Adm. Habibollah Sayyari was due in Syria's Latakia port to attend the welcoming party for the two Iranian warships which made it through the Suez Canal without US or Israeli interference. It also marked a fresh, redoubled Hamas offensive against Israel.
Wednesday night, Israel put the communities within range of the Gaza Strip, including the cities of Beersheba, Netivot, Ofakim, Sderot, Ashkelon and Ashdod, on heightened alert status for further Palestinian attacks.
That night, Israeli air strikes hit a Jihad Islami missile team and then spread out to bomb Hamas command centers, which had meanwhile been hurriedly evacuated in expectation of Israel's routine aerial reprisal.
DEBKAfile's military sources report that more aggression from the Gaza Strip is inevitable given the Netanyahu government's feeble or non-response despite the urgent need to shore up Israel's security situation continuously eroded by the turbulence in Arab capitals.
Even though it was obvious that Hamas had been strengthened by Hosni Mubarak's fall in Egypt, Israel stood by as Hamas rampaged out of Gaza and into Sinai and the Egyptian-Israeli border areas – even when a Hamas special team on Feb. 5 blew up the Egyptian pipeline which conveyed 43 percent of Israel's gas needs. Replacement sources have added close to $400 million a month to Israel's energy bill.
It looks like the worst fears from the Egyptian situation are now being realized:
Western military sources report that the Iran-backed Palestinian Hamas is further exploiting the shaky situation in Cairo and Israeli inaction to double or even triple the quantities of weapons smuggled via the Suez Canal and Sinai into the Gaza Strip. One Israeli officer said he had never before seen surface-to-surface missiles, anti-aircraft missiles and anti-tank missiles secreted into Gaza in such bulk.
And add this to the mix:
The free passage afforded the two Iranian warships for transiting the Suez Canal Tuesday, Feb. 22 – without Egypt or US and Israeli warships even inspecting their cargoes - has encouraged Tehran to press on with its expansionist ambitions.
Hamas understood that its redoubled offensive against Israel would be most welcome. The Palestinian extremists held their fire until Tehran announced the warships had put into Latakia Wednesday and the arrival of Iran's navy chief that night. And then they went into action – first against an IDF border patrol, then to fire Grads at Beersheba and Netivot.
Israel's policy-makers have chosen to ignore the role of those two vessels as the thin edge of a wedge: They are to set up a permanent base on the Mediterranean with more Iranian naval vessels continuing to pass through the Suez Canal and joining them at Latakia.
Hamas is counting on Iran building up its military presence and on Israel to stand by helplessly – just as it did when its request to the new military rulers of Egypt to stop the Iranian flotilla's passage through Suez went unanswered.
The Palestinians ruling Gaza are sending Grad missiles as messengers to Israel that they now enjoy Iranian support close by in the Mediterranean. DEBKAfile's military sources wonder if this message will not finally act as a wakeup call for Jerusalem.
All of this in one day of prophecy watching. Turmoil and instability is the order of the day - as we watch the Middle East racing to embrace radical Islam - at a degree far more than we have ever seen.
Ultimately, as we know from biblical prophecy - it has to do with Israel being surrounded by her enemies - enemies who will gather together and launch a massive invasion of Israel.
We are watching the exact set-up for this to happen.
God's plan is setting up exactly as we would expect.
We shouldn't be surprised by any of this nor should we have a spirit of fear. We were told that these things would happen, and we were told that we would see such things - on this side of the Tribulation. We were also told to look up - and watch for Jesus' return as we begin to see these things (Luke 21:28).
I don't know about you, but I'm following these instructions and looking up.
I'm ready - are you?