By Morris: Held for three days in a Misrata Prison - where he saw torturous activities. and only released this morning. Source
Submitted by Tyler Durden:
While those in the power and money echelons of
the "developed" world scramble day after day to hold the pieces of the
collapsing tower of cards in place (and manipulating public perception
that all is well), knowing full well what the final outcome eventually will be, those who still have the capacity to look, and invest, in
the future, are looking neither toward the US, nor Asia, and certainly
not Europe, for one simple reason: there is no more incremental debt
capacity at any level: sovereign, household, financial or corporate.
Because without the ability to create debt out of thin air, be it on a
secured or unsecured basis, the ability to "create" growth, at least in
the current Keynesian paradigm, goes away with it. Yet there is one
place where there is untapped credit creation potential, if not on an
unsecured (i.e., future cash flow discounting), then certainly on a
secured (hard asset collateral) basis. The place is Africa, and
according to some estimates the continent, Africa can create between $5 and $10 trillion in secured debt, using its extensive untapped resources as first-lien collateral.
By 108morris108: Libya descends into barbarity. And with death lurking, the grand theft goes on unopposed.
"The Titanic has already hit.. we are rearranging deck chairs and locking the third class passengers below decks!" Nicole Foss from theautomaticearth.com. as she talks about
the ongoing global debt deflation and what's next for Europe and US in
terms of government and Central Bank policy to stop the collapse. Nicole
M. Foss is co-editor of The Automatic Earth, where she writes under the
name Stoneleigh. The site integrates finance, energy, environment,
psychology, population and real politik in order to explain why we find
ourselves in a state of crisis and what we can do about it. Source
By Patrick Barron: The euro debt crisis in Europe has presented Germany with a unique
opportunity to lead the world away from monetary destruction and its
consequences of economic chaos, social unrest, and unfathomable human
suffering. The cause of the euro debt crisis is the misconstruction of
the euro that allows all members of the European Monetary Union (EMU),
currently 17 sovereign nations, to print euros and force them on all
other members. Dr. Philipp Bagus of King Juan Carlos University in
Madrid has diagnosed this situation as a tragedy of the commons in his
aptly named book The Tragedy of the Euro.
Germany is on the verge of seeing its capital base plundered from the
inevitable dynamics of this tragedy of the commons. It should leave the
EMU, reinstate the deutsche mark (DM), and anchor it to gold.
Mish: Here is an excellent interview at The Economist Buttonwood
Conference featuring Hugh Hendry. You may have to enter your email
address to play, but I doubt it has to be accurate as there was no
verification process.
The interview is well worth a play in entirety, covering Gold,
Hyperinflation, Treasuries, Stocks, Japan, China, and Real Assets. It's
the best interview I have seen lately.
By Marin Katusa: Exxon
Mobil is no longer the world's number-one oil producer. As of
yesterday, that title belongs to Putin Oil Corp – oh, whoops. I mean the
title belongs to Rosneft, Russia's state-controlled oil company.
Rosneft
is buying TNK-BP, which is a vertically integrated oil company co-owned
by British oil firm BP and a group of Russian billionaires known as
AAR. One of the top-ten privately owned oil producers in the world, in
2010 TNK-BP churned out 1.74 million barrels of oil equivalent per day
from its assets in Russia and Ukraine and processed almost half that
amount through its refineries.
With TNK-BP in its hands, Rosneft
will be in charge of more than 4 million barrels of oil production a
day. And who is in charge of Rosneft? None other than Vladimir Putin,
Russia's resource-full president.
TNK-BP has been an economic
dream, producing many billions in dividend payments for its owners – but
it has been a relations nightmare. The partners have fought repeatedly.
In 2008 Russian authorities arrested two British TNK-BP managers amid a
dispute over strategy that forced then-CEO Bob Dudley (who now heads
BP) to flee Russia – and that is just one of many partnership scandals.
By Morris: Flooding Libya with weapons, and paying
off the Militias is the recipe for control, with an underlying aim of
destroying the tribal community for the sake of commercialisation. Source
Whoever expects to be ignorant and free in a state of civilization expects what never was and never will be.
-Thomas Jefferson
Bipartisan usually means that a larger-than-usual deception is being carried out.
-George Carlin
The Seventy Percent
By Mike Krieger: People are going to be pissed off no matter who wins this election and
that is a very important social dynamic I believe is vastly under
appreciated by the majority of mainstream pundits and analysts out
there. This is also very distinct from the environment that prevailed
in 2008. Four years ago, the financial markets were crashing and the
economic future of America was circling the toilet bowl, yet a majority
of Americans embraced the potential of a young, inexperienced biracial
politician from Illinois who was saying all of the right things.
Despite the gigantic disappointment he has proven to be as President,
there is no denying that he had all of the Democrats and most
Independents under his spell on this day four years ago.
Fast forward to 2012 and the county isn’t “divided” as mainstream
media talking heads like to say. The country is pissed off. Genuine
and legitimate frustration permeates the land from sea to shining sea
and rightly so. Ever since the banker coup of 2008, crony capitalism
has been institutionalized as the only real way to make money. If you
aren’t connected or “too big to fail,” sorry but America isn’t the place
for you.
