Reading between the lines, and thinking outside the box . . .
Th Holy See Press Office today published the programme of Benedict XVI's forthcoming apostolic trip to the US, including his visit to the headquarters of the UN, due to take place April 15-21.
Benedict XVI says he hopes Europe will rediscover the values the continent inherited from Hellenistic culture. He first considered the path of Christian unity, and progress in relations between Catholics and Orthodox.
"The vibrant exchange between Hellenistic culture and Christianity allowed the former to be transformed by Christian teaching and the latter to be enriched by Greek language and philosophy. It is my hope that the Pauline Year will become a catalyst that will spark reflection upon the history of Europe and stir its inhabitants to rediscover the inestimable treasure of values they have inherited from the integral wisdom of Hellenistic culture and the Gospel."
"There's practically no difference between what John Paul II did on each one of his trips and what Cardinal Bertone does now." That is the view of the noted Vatican-watcher of La Chiesa: "It is as if he were traveling in the place of Benedict XVI."
According to Magister, the increasingly frequent trips by Cardinal Bertone (Vatican Secretary of State) are intended to advance the international agenda of the Holy See while allowing the Pontiff to remain in Rome.
In a meeting with Italian business leaders and professionals, Cardinal Bertone, encouraged the fostering of an authentic humanism for the business world based on Gospel values.
In an age characterized by the "vast phenomenon of globalization" the correct exercise of business and professional life is needed in order to obtain the fruits of the talents that Divine Providence has bestowed to bring about economic and social progress "attentive to the comprehensive well-being of man and society."
Here is the address delivered by the permanent observer of the Holy See to the Office of the UN and Specialized Institutions in Geneva, at the 7th session of the UN Human Rights Council.
This morning in the Vatican, the Holy See and the Principality of Andorra signed an agreement that "further consolidates the traditional ties of collaboration that exist between the two parties."
The note recalls that Andorra "has always maintained a special relationship with the Catholic Church" and that "in 1993 the principality adopted a Constitution that maintains the system of co-principality dating back to 1278. The co-princes - who are the bishop of Urgell and the president of the French Republic - together and indivisibly perform the functions of head of State".
(Wiki: Andorra)
Pope Benedict has approved a conciliatory statement for Jews upset by a Good Friday prayer that many saw as a call for their conversion, Catholic and Jewish sources said on Monday. The statement, likely to take the form of a letter from Cardinal Bertone to the chief rabbi of Israel, is expected to be released soon but perhaps not in time for this Good Friday on March 21.
The Vatican is holding talks with Saudi Arabia on building the first church in the kingdom, where some 1.5m Christians are not allowed to worship publicly. The discussions come in the wake of King Abdullah's historic meeting with the Pope at the Vatican last November.
Former SPD leader Franz Müntefering has lashed out at the leadership of Kurt Beck. In an internal strategy paper he says it was a mistake to consider cooperating with the Left Party and warns the party against turning to the left and abandoning important reforms.
German power plant capacity may fall short of demand during peak hours as early as 2012.
A clerical worker was named yesterday as Germany's first suicide bomber and blamed for the deaths of 2 American soldiers in Afghanistan. He was born in Bavaria to a family of Turkish immigrants, and is believed to have driven a pick-up truck laden with explosives into a US guard post.
[Europress] [Russopress]
Tony Blair is a popular choice to become the first president of the European Union, according to a pan-Europe opinion poll. Blair scored well inside and outside his own country. Angela Merkel was the only other figure to enjoy the same widespread popularity.
NATO and the EU should pool defence resources to cut costs and ensure that equipment and troops can be found when needed, NATO's chief said. "It is absolutely critical that all of the capabilities that we are able to generate from this pool of forces are equally available to both NATO and the European Union. If we duplicate, or worse go off in different directions, we will both fail."
Twenty-one EU nations are also members of NATO, and many have been stretched by military commitments in security and peacekeeping operations.
In a letter addressed to the leaders of Germany and France, Ukraine has requested support for it bid to join NATO. But some European countries are concerned about alienating Russia.
Serbia may invite the Russian troops to the north of Kosovo, which is populated mostly by Serbs. Russia in this case will be represented as peacekeepers, undermining the authority of the NATO-led KFOR peacekeeping mission, creating potential for conflict, or heralding a partition of the territory.
Russia's Foreign Minister urged Middle Eastern states not to recognise Kosovan independence on Tuesday, warning that this could encourage other breakaway regions. "I would like to warn against the temptation to give in to calls from non-Arab and non-Islamic states addressed to Islamic countries to show Islamic solidarity and recognise Kosovo. Efforts continue to be made in Kosovo to force people to live in a state created illegally. Disorder has also begun in other countries, You can see what's happening in the Chinese autonomous region of Tibet."
Russia struck an upbeat note on easing tensions with the US as President Putin discussed a key letter from President Bush with top US officials in the Kremlin. "We can put a full stop on some problems in US-Russia relations and consider them definitively resolved," Putin said at the start of talks with US Secretary of State Condoleezza Rice and Defence Secretary Robert Gates.
Putin said he had received a "very serious" letter from Bush. "If we manage to reach agreement on its basic provisions, then we can state our dialogue is proceeding successfully."
FSB reports circulating in the Kremlin today are reporting that President Putin and President-elect Medvedev were the 'intended' targets of a Tajikistan citizen, who was captured by Russian Security Forces prior to his being able to assassinate both of Russia's leaders during a planned victory celebration in Red Square.
Upon 'intense' interrogation by the FSB he has 'admitted' to have been 'recruited' for his intended crime by what he believes to have been a consortium of Western oil interests believed to be collapsing due to the West's banking crisis, and fueled by Royal Dutch Shell's anger over being denied what they believe are their rights to Russia's vast Sakhalin-II project.
The US President was quick to notify Putin that their government was not involved in this plot in a 'serious' letter delivered to the Russian president by the US
These reports further state that though Putin has 'initially' accepted the American governments assurances that they were not a part of this assassination plot, he has ordered Russian Military Forces to be ready to intervene in Kosovo, and where they will be able to block, and if needed 'destroy', Royal Dutch Shell's planned pipeline for Caspian Sea oil meant to bypass the Russian Republic
It remains to be seen if the Western people are even aware of the Grand Game being played that will mean their lives and deaths. One can only hope that they awaken from their slumbers soon.
Chancellor Merkel has become Israel's staunchest ally in Europe. This week, the country has pulled out all the stops to welcome the German leader. Back home, though, many wish Merkel would finally speak up about Israeli excesses in the Gaza Strip.
(Part 2: Germans wonder at Merkel's Israel policy)
In unprecedented criticism of his father, the son of the spiritual leader of a major coalition partner in Prime Minister Olmert's government demanded his father's party immediately bolt the government amid rampant media reports Jerusalem is up for negotiations.
Rabbi Jacob Yosef accused the ultra-Orthodox Shas party of "selling Jerusalem" for 478 million Israeli shekels ($138 million). If Shas bolts, Olmert's coalition government could fall apart, precipitating new elections.
Why did Israel attack Gaza with such brutality? Did Israeli officials think, even for a fleeting moment, that their army's attacks could halt, as opposed to intensify, Palestinian rockets or retaliatory violence?
Indeed, was Palestinian violence at all relevant to the Israeli action? Was the Israeli bloodletting in Gaza solely relevant to the Gaza/Hamas context, or is there a regional dimension that is largely being overlooked?
China vowed to defend its sovereignty in Tibet as Chinese troops set up checkpoints and mobilized to quell an uprising. "The Chinese government will unwaveringly protect its national sovereignty and territorial integrity. The violent acts have demonstrated the true nature of the Dalai clique."
The results of Iran's parliamentary elections should not be interpreted as victory for President Ahmadinejad, a spokesman of one of the victorious conservative factions said. "The results of the elections should not be interpreted as a victory for Ahmadinejad's government because the majority of the new parliament deputies will be critical towards the government."
A senior Iranian official says that West should try to hear Iranian nation's loud voice and comprehend their message about elections.
"Despite your enormous effort to disappoint the Iranian people in the elections, you have seen the results; your statements demonstrate your mental frustration. Although you have tested out this method many times and attempted to prevent the Iranian nation from participating in the elections through slapping on new sanctions, you achieved no result."
Chancellor Merkel has pointed to diplomacy as the 'only solution' to Iran's standoff with the West over its nuclear program. Merkel, who is in Israel to hold talks with the high-ranking Israeli officials, has expressed hope that Israel would also seek a diplomatic approach to Iran's nuclear program.
Less than 50% of the UN member states have filed mandatory reports on their measures taken to enforce Iran sanctions. The UN committee monitoring sanctions against Iran has announced that only 45% of member states have filed their mandatory reports.
The said a deal signed on Monday between Switzerland and Iran's state gas firm sends "precisely the wrong message" amid the continued crisis over Tehran's nuclear programme. The US embassy said it believes the deal "violates the spirit of the sanctions" imposed on Iran.
Is the Bush administration ramping up for an attack on Iran? The signs seem to point in that direction. Navy Adm. William Fallon retired. And now, Dick Cheney's current Middle East tour may be designed to prepare our Arab allies for an imminent "preemptive" war against Iran.
Bush and Cheney may feel that engaging the US militarily in Iran would make it harder to elect anyone other than the seasoned military man, John McCain. The Republican presidential candidate just happens to be touring Iraq with Sen. Joe Lieberman, one of the strongest advocates of a US military strike on Iran. Lieberman is likely on McCain's short list for a vice-presidential running mate.
Connect the dots. They paint a very frightening picture.
Truly, the Democratic Party is now headed for a train wreck. Though Barack seems likely to win more pledged delegates than Hillary, the super-delegates will have to decide whether they want to offer America a nominee whose pastor and mentor embodies the anti-white racism and anti-Americanism that has ever brought the patriotic blood of Middle America to a boil.
The final undoing of the official 9/11 story
At last there is a book about 9/11 that politicians and journalists can openly discuss without fear of being labeled "conspiracy theorists". 9/11 Contradictions: An Open Letter to Congress and the Press advances no theories. It simply exposes 25 astonishing internal contradictions that will haunt the public story of this unparalleled event for all time.
Die amerikanische Zentralbank Federal Reserve Board ergriff am Freitag Notmaßnahmen, um den Zusammenbruch von Bear Sterns zu verhindern, der fünftgrößten amerikanischen Investmentbank und eines der weltweit führenden Finanzhäuser.
The Federal Reserve has resorted to the nuclear option in its ever-more depleted arsenal, invoking a Depression-era clause to shoulder the risk of losses stemming from the collapse of Bear Stearns, and to lend money directly to broker dealers.
It is the first time since the Great Depression that the Fed has stepped in directly to absorb credit losses, crossing a line deemed unthinkable just months ago.
The Fed also took the extraordinary step of cutting the Discount Rate a quarter point to 3.25% just 2 days before its scheduled policy meeting in Washington, a move underscoring the high drama of the crisis.
"These are massive, unprecedented actions. Their gravity is likely to scare the markets to death, but the Fed is trying to inhibit a margin-meltdown."
The Fed's hyperactive coups are in stark contrast to the wait-and-see policy of the European Central Bank. The hard-line policy of Europe's key central banks has been a major factor in the dollar's precipitous fall over recent weeks.
The dollar slide has now reached the point of disorderly rout, causing an investor flight from US bonds and aggravating America's banking crisis. There is a growing fear that these forces are now feeding on each other in a self-reinforcing spiral.
The Europeans were in no mood to rescue America. "There is monetary war going on. The ECB view is that Fed is a victim of its own mistakes and should pay for its past crimes."
There are now echoes of October 1987 when the German Bundesbank (and therefore Europe) refused to ease monetary policy, even though the dollar was in freefall and Wall Street was fragile. The spat was the backdrop to the Black Monday crash.
AIG's Connolly said the ECB was making the sort of catastrophic error that led to the Depression. "The ECB represents the 1930s element in world central banking right now. It is adding to the atmosphere of panic in the foreign exchange markets and ensuring that the collapse of the credit bubble in southern Europe and Ireland will be even worse."
(Cartoon: Melting!)
Goldman Sachs, Wall Street's most powerful investment bank, has revealed a $2bn credit write-down, its biggest jolt to date.
It's said that we're in the worst financial crisis since the Great Depression. In trying to calm financial markets, the Fed has spewed out enormous amounts of money and credit that have depressed the dollar's exchange rate and could aggravate inflation. The effort to fix one problem may lead to others.
(Cartoon: For Sale)
Today, the Fed will cut interest rates, the question is only whether by .75% (probably not), 1% (what the markets now expect) or by more. The Fed is heading fast and decisively towards the 0% interest rate bound.
Nervousness remains extreme, as everybody sits on the sidelines to see what happens. There is now an extensive discussion going on everywhere about the risk of further contagion and a "global financial meltdown."
Blogosphere was unusually calm on the day when the world tumbled, they were probably all glued to their screens, mouths wide open. The Calculated Risk blog asks the $2 question: Is Bernanke running out of amunition? The answer is "yes", obviously when it comes to interest rates cuts, but also when it comes to open market operations.
(And: Fed abandons dollar)
This is clearly a run on America, its financial institutions, and of course the dollar. How bad can things get? The answer is: very bad indeed. This conflagration will mean 3 things:
1) It will mark the end of the US as the world sole economic superpower;
2) the end of the dollar as the global reserve currency, and its replacement by the euro;
3) and the de facto end of Anglo-Saxon transaction-based financial capitalism.
So this run on financial America is not only a huge financial event, it is a geostrategic shift of great importance.
The more the Federal Reserve does to avert financial contagion, the clearer it becomes that the Fed alone cannot solve the problems in the financial system. It's now obvious that American taxpayers will have to step in.
Less obvious is that if the US government doesn't stabilize the markets, foreign governments increasingly will, in exchange for an ever larger stake in the American financial system.
It's clear that the Bush administration and Bernanke would welcome greater ownership of the nation's financial institutions by foreign governments. That's an effective short-term fix, and could conveniently avert a financial meltdown on their watch. But it also means a long-term transfer of a chunk of the future revenues of the American financial system to foreign governments.
The financial crisis plunged to a new low today as £51 billion was wiped off the value of Britain's top companies. The pound also suffered its worst one-day fall since Black Wednesday in 1992 and some mortgage rates rose again amid fears that Bear Sterns might not be the last bank to collapse.
Bear Stearns collapse signals deepest crisis since Great Depression
However the events on Wall Street play out during the next few weeks, there is no question but that a crisis of historic magnitude is now unfolding.
After a generation of relentless media propaganda, which touted the infallibility of the capitalist market and the genius of Wall Street's financial wizards, the US economy now stands on the very brink of an economic breakdown on a scale not seen since the Great Depression.
The contradictions within the world capitalist economy are now reaching the point where the type of financial catastrophe and social and economic devastation experienced in the 1930s is not only possible, but is becoming increasingly likely.
The measures taken by the Fed over the weekend underscore the fact that Bear Stearns is the first of what threatens to become a rash of bank and financial institution failures in the US and internationally.
Last Friday we got a taste of what the future is likely to be like as we make our way further into the belly of the 2nd great depression.
The global financial system has been teetering on a precipice for years if not decades, pumped up by unsustainable amounts of debt at every level of the economy, and is primed for a crash. Warnings that have been sounded on websites such as this one appear finally to be coming true.
Deflation was the scourge of the 1st great depression, and it is what Bernanke was hired to prevent. With his years of study and deep knowledge of the Great Depression he is one of the world's foremost academic experts on the Depression. It would be a supreme irony if the 2nd great depression were to unfold on his watch.
In an echo of the "bankers' panic" of 1907, JP Morgan responded to what is being billed as a meltdown of historic proportions by agreeing to buy its stricken rival, Bear Stearns. George Soros believes there has been nothing to match the events of the past 9 months since the Great Depression.
President Putin urged his government and Central Bank on Monday to keep a close eye on rouble appreciation as the dollar continues to plummet against world currencies. "We all see what is going on in the Eurozone, how the euro's appreciation is affecting the European economy. This deserves very serious attention."
Gulf States are set to follow Alan Greenspan's advice and dump their dollar peg following a benchmark meeting today, with analysts predicting a slow but deliberate creep away from the greenback rather than an imminent decoupling, a move that could have devastating consequences for the American economy.
As US shares continue to fall and the American economy reverberates with fears that a subprime-mortgage-driven recession has begun, affluent Gulf states are seizing the opportunity to increase their control of financial companies and other branches of the US economy.
That development is leaving some analysts concerned over the prospect of Arab financial prowess manifesting itself in a political agenda, with negative consequences for Israel. "There is concern that the purchase of strategic assets provides the owners with the ability to intervene politically."
The cost of diesel gasoline in the US soared to historic highs over the past several weeks, threatening independent truck drivers with financial ruin and forcing a sharp hike in transportation costs, which reverberates throughout the economy.
The entire transportation industry relies on diesel fuel, including trains and cargo ships, but the impact on trucking is particularly severe. The ripple effect of high fuel prices on manufacturing, production, and consumption is booting inflationary pressures everywhere.
Rumors are already spreading of a nationwide truck strike, as thousands of drivers have been forced into bankruptcy or had their trucks repossessed.
About a million people are facing famine in India's northeastern state of Mizoram after rats ate the region's entire paddy crop. The rats swept through the forests, feasting on the fruits of wild bamboo, which flowers every 48 years. When they finished the bamboo, they turned to the farmers' crops.
Okay. Let's face some ugly truths. We're messed up big time. You are like me: We have no gold. We have no money. We're in big trouble. What to do?
Time to get serious and get off our arses and do something about this situation. Buy enough food, water, and toilet paper to last about 2 months. Really. I'm not kidding about the toilet paper either. You don't want to be rubbing your buns with old newspapers.
Yes, I can't afford gold, but I can't eat it either. I figure that this is the poor-man's disaster hedge fund. If the bank's close, or if the ship hits the fan, I'll be okay for at least 2 months.
Seems like a smart deal and a good way to get prepared for the coming troubles. While everyone is freaking out, I'll be enjoying booze and Sardines on crackers for at least a little while.
The blame for WW2 is not as cut and dried as Americans typically assume it to be, and hence some revisionism is long overdue.
Many people are misled by formalities. They assume, for example, that the US went to war against Germany and Japan only after its declarations of war against these nations in December 1941. In truth, the US had been at war for a long time before making these declarations.
Whenever the US government launches a new war abroad, we would be well advised to look into what happened in that part of the world previously, perhaps over the course of several decades. We know one thing for certain at the outset, however: we cannot rely on the government to tell us the truth, the whole truth, and nothing but the truth.
Earth's land cover has been charted from space before, but this map, which will be made available to the public upon its completion in July, has a resolution 10 times sharper than any of its predecessors.
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