The Daily World Affairs Report: The Daily WAR (13-10)

"This is something that we must prevent at all costs. The current situation is extraordinarily serious," said a governor of the Swiss National Bank.

The SNB is not easily spooked. It is the world's benchmark bank, the keeper of the monetary flame.

Yet even the SNB's hard men have thrown away the rule book, taking emergency action to force down the exchange rate of the Swiss franc.

Here lies the danger. If other countries try to export deflation by this means, we will face a 2nd phase of the global crisis.

"We don't fully realise in the West what a catastrophic collapse Japan has suffered," says the global strategist at Société Générale.

Japan's industrial output fell 38% in February (year-on-year), mostly concentrated into the last 4 months. No major economy imploded at this speed in the 1930s.

Remember, we have only just begun to see the mass lay-offs and hardship caused by this slump.

What if the world all used the same currency?

MISC

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* "If people intend to be informed, they must turn to foreign news broadcasts, to Internet sites, (or) to foreign newspapers available on the Internet. People ask me where they can get reliable information. I tell them that their goal cannot be reached without their commitment of time."

* "Here I have to reveal a trade secret, which punctures the mystique of intelligence analysis. Generally speaking, 80% of the information one needs to form judgments on key intelligence targets or issues is available in open media."

* "Former UN weapons inspector Scott Ritter told a packed crowd to stop whining about corporate media and become their own intelligence operatives. 'We the people have the same resources and tools that intelligence networks rely heavily on; it's called Google. As our own intelligence operatives we can't allow CNN, FOX, NBC, and ABC to edit and cherry pick information, but ask questions and find the answers ourselves.'"

* "Many apparently separate developing daily events don't make the slightest sense, if you don't look at them in their strategic context. In the face of Orwellian control of the media, it is even more necessary, to judge contemporary developments with the eye of an historian, who has not forgotten the lessons of [history]."

Monday

The Daily WAR (13-10)