What happens when Greece defaults
It is when, not if. Financial markets merely aren’t sure whether it’ll be tomorrow, a month’s time, a year’s time, or two years’ time (it won’t be longer than that). Given that the ECB has played the “final card” it employed to force a bailout upon the Irish – threatening to bankrupt the country’s banking sector – presumably we will now see either another Greek bailout or default within days.
Below we see the beginning effects which will occur upon this expected Greek default. The article lists several more events and effects which will stem from the default - they are all worth reading; below is just a sample:
- Every bank in Greece will instantly go insolvent.
- The Greek government will nationalise every bank in Greece.
- The Greek government will forbid withdrawals from Greek banks.
- To prevent Greek depositors from rioting on the streets, Argentina-2002-style (when the Argentinian president had to flee by helicopter from the roof of the presidential palace to evade a mob of such depositors), the Greek government will declare a curfew, perhaps even general martial law.
Pakistan's nuclear weapons, safe or not?
ISLAMABAD: An assault on a naval base in Karachi is the latest militant attack on military installations in Pakistan, raising fears about the safety of the country’s nuclear arsenal.
Pakistan has the fastest growing nuclear arsenal in the world and in a decade could pass France as the fourth-largest nuclear power, so such brazen attacks on secure military establishments – militants also attacked the General Headquarters in Rawalpindi in 2009 – give Western leaders nightmares about militants acquiring nuclear materials, or worse, an entire weapon.
U.S.: Al Qaeda has interest in strikes on energy infrastructure
The Department of Homeland Security and the FBI have warned police across the United States that al Qaeda has a "continuing interest" in attacking oil and natural gas targets, a department spokesman said Friday.
The warning issued Thursday came as a result of information seized during the May 2 raid that killed Osama bin Laden in Pakistan, a U.S. official said.
CNN obtained a copy of a DHS/FBI intelligence bulletin that says al Qaeda has been interested in "targeting unspecified oil tankers abroad" as a means to "draw the West into an extreme economic crisis" by disrupting a significant portion of the oil supply for several years.
Is Iran culpable in 9/11? It 'knew about terror attacks before they happened and trained hijackers'
Iran knew about 9/11 before it happened and helped train hijackers, court papers say.
Lawyers representing September 11th victims’ families claim new evidence shows Iranian officials assisted in training hijackers and had advanced word of the attacks.
There is ‘clear and convincing’ evidence for damages and a federal judge should find Iran culpable in the terror attacks, according to papers filed in Manhattan, New York.
Waging War by decree
Why is this article significant? Just look at the third paragraph below for a clue:
Barack Obama basically stomped on the War Powers Act last week in a hissy fit proclaiming that it did not apply to his Libyan War/Conflict kinetic military action.
Showing clear disdain for the Act and America in general, Obama claimed that it was not applicable since the Libyan debacle was not actually a full-blown war. Under the War Powers Act, the President has 60 days to get authorization from Congress for any military involvement, and if he fails to get that authorization, he must end the involvement within 30 days. The 60-day authorization period expired on Friday the 20th. He penned a letter to Congress saying that the role of the US in the conflict was so limited that he does not need to seek congressional approval.
Bovine excrement. From the beginning of Obama’s invoking the Responsibility to Protect Doctrine, the Obama administration has cited the 1973 War Powers Act as the legal basis of its ability to conduct military activities for 60 days without first seeking a declaration of war from Congress. Now he disowns the Act and in typical forked tongue fashion, he utilizes the War Powers Act and then dismisses it when it is no longer pertinent to his agenda. You know, sort of like the way he views our Constitution.
The Libyan debacle was never voted on because Obama knew it would never be passed. Libya was not a current threat to the US. I contend it was a dry run to see how Responsibility to Protect would play out if used in other actions. Such as, just being hypothetical here, Israel.
Obama's call for Israel to self-destruct
This article presents an excellent overview of Israel's claim to their land and the various significant events in the region since 1948. The following paragraphs represent the introduction to this detailed article:
President Obama demands that Israel withdraw to armistice lines that existed after the Arab-Israel War of 1948 ended. These lines did not constitute a border but merely the military positions that existed after the Arab attempt to annihilate Israel failed.
In six days in June, 1967, Israel was forced to fight another war for its survival against a new aggression by Egypt, Syria and Jordan. All three Arab countries lost territory as a direct result of their new genocidal war against the Jewish state failed again.
As a consequence, Israel threw back the Syrian army from its positions on the Golan Heights; the strategic high ground from which Syria had bombarded and shelled Israeli farmers in the Hula Valley below and Israeli fishermen on the Sea of Galilee.
Egypt lost the Sinai Peninsula and Israeli forces dug in on the eastern bank of the Suez Canal and developed the Abu Rodeis oil field. All the territory and the oil fields were given away to Egypt in return for a piece of paper; a peace treaty which now is at the point of being torn up by a likely new Egyptian government under the influence of the Muslim Brotherhood.
Jordan, which had nineteen years earlier invaded and occupied the territory they subsequently called the West Bank and divided the city of Jerusalem in half, were also thrown back after launching an all-out attack upon Israel.
As a result, the ancestral and biblical Jewish heartland of Judea and Samaria was liberated from Jordanian Arab occupation. At the same time, Jews were able to pray again at their ancient holy places and synagogues in Jerusalem, which had been desecrated by the Muslim Arabs. Jerusalem, under Israel’s governance was now for the first time open freely to members of all religions to worship; something the Jordanians had forbidden.
And this part of the commentary (below) is critical to understanding the conflict in the region:
The Arab-Israel conflict is not, and never has been, merely a war over territory. It is, and always has been, a religious war. Islam will never accept a non-Muslim state, whatever size or shape it may be, within lands previously conquered by Muslims in the name of Allah. This is a paramount and fundamental fact, which strangely is never understood.
Look at what the Muslims have done to once primarily Christian Lebanon and what fate awaits the Christian Copts in an increasingly Muslim Brotherhood Egypt. That is why “land for peace"is nonsense. Tiny Israel can give precious land away but it will never receive peace from the Muslim Arab world.
Thus the “two-state solution”, so beloved of President Obama and President George Bush before him, requires the biblical Jewish heartland of Judea and Samaria (so-called West Bank) to be given away to the Arabs who call themselves Palestinians.
But these Arabs have no intention of making peace, which should be enough for any Israeli government and Prime Minister with intestinal fortitude to defy the world’s pressure for the Jewish state to slowly and surely disappear.
Pushing Israel back to the “Auschwitz lines”, as Abba Eban, Israel’s early UN delegate and former Foreign Minister had called them, where the Jewish state is only nine miles wide at its most populous region, is what the “Two-State Solution” is all about.
This is what Barack Hussein Obama now demands of Israel. That other dread euphemism employed by the Nazis, “The Final Solution,” was code for the Holocaust, and now comes chillingly to mind.