Wednesday, February 6, 2013

This makes me cry! These poor people need our prayers! Man trampled as hundreds of desperate Greeks scuffle for food

End Of Days News

People reach out for a bag of oranges during a free distribution of fruit and vegetables by Greek farmers outside the Agriculture Ministry in Athens, on February 6, 2013. (AFP Photo / Louisa Gouliamaki)
 
A fruit and vegetable handout in Greece led to one man being trampled on Wednesday, calling attention to the desperate conditions in the crisis-hit country. Some 55 tons of produce was given away by farmers who were protesting high production costs.

The person was injured when he was pushed by a crowd trying to grab the goods and fell and hit his head.

The chaos was sparked when food stalls ran out of fruits and vegetables, prompting dozens of people to rush to a nearby truck.

It was an “every man for himself” situation as the Greeks shoved their way to the front of the truck, competing for the food that was left. The 55 tons of food was completely gone in under two hours.

A Reuters employee at the scene was hit on the head with cauliflower heads as he attempted to photograph the situation.


People reach out for a bag of oranges during a free distribution of fruit and vegetables by Greek farmers outside the Agriculture Ministry in Athens part a farmers protest against high production costs, including petrol, on February 6, 2013. (AFP Photo / Louisa Gouliamaki)
People reach out for a bag of oranges during a free distribution of fruit and vegetables by Greek farmers outside the Agriculture Ministry in Athens part a farmers protest against high production costs, including petrol, on February 6, 2013. (AFP Photo / Louisa Gouliamaki)
 
"These images make me angry. Angry for a proud people who have no food to eat, who can't afford to keep warm, who can't make ends meet,"
 
Kostas Barkas, a lawmaker from the leftist Syriza party, told Reuters.

Other Greek lawmakers said the situation showed images “of people on the brink of despair” and the sense of “sadness for a proud people who have ended up like this.”

It’s a reality that many Greek citizens find hard to comprehend.

"It's difficult. I never imagined that I would end up here," 65-year-old Panagiota Petropoulos said.

"I can't afford anything, not even at the fruit market. Everything is expensive, prices of everything are going up while our income is going down and there are no jobs," she continued.


People line up for fruits and vegetables freely distributed by farmers during a protest against high production costs outside the Agriculture Ministry in Athens  February 6, 2013. (Reuters / John Kolesidis)
People line up for fruits and vegetables freely distributed by farmers during a protest against high production costs outside the Agriculture Ministry in Athens February 6, 2013. (Reuters / John Kolesidis)
 
Greece, which is currently in its sixth year of recession, is experiencing record high unemployment rates. Citizens have been forced to endure wage and pension cuts to satisfy European Union and International Monetary Fund demands.

The handout was an attempt by farmers to persuade the government to give them a 50 per cent price reduction on diesel-powered farm equipment, abolish the obligatory declaration for cultivation and cut Value Added Tax from 23 per cent to 6 per cent on their products and agricultural machinery and equipment.

Strikes continue to take place in various sectors, as workers protest the government’s austerity plan
On Wednesday, Greece’s ruling coalition forced striking seamen to return to work after a six-day action that suspended ferry services to dozens of Greek Islands. The strike led to food and medical shortages.

But when one strike ends, others continue.

Farmers throughout the country are in their ninth day of demonstrations, staging roadblocks with their tractors on highways across Greece on Wednesday.

Journalists working for state broadcasters went into a third day of strikes on Wednesday, protesting against the government’s policies regulating the sector. The strike is scheduled to continue until Thursday.

Various Greek Unions have held a wave of strikes over the past three years to protest the harsh austerity measures taken to secure international rescue loans.


People reach out for a bag of vegetables during a free distribution of fruit and vegetables on February 6, 2013. (AFP Photo / Louisa Gouliamaki)
People reach out for a bag of vegetables during a free distribution of fruit and vegetables on February 6, 2013. (AFP Photo / Louisa Gouliamaki)
 

People reach out to take fruits and vegetables distributed for free by farmers during a protest against high production costs outside the Agriculture Ministry in Athens February 6, 2013. (Reuters / John Kolesidis)
People reach out to take fruits and vegetables distributed for free by farmers during a protest against high production costs outside the Agriculture Ministry in Athens February 6, 2013. (Reuters / John Kolesidis)
 

People reach out to take fruits and vegetables distributed for free by farmers during a protest against high production costs outside the Agriculture Ministry in Athens February 6, 2013. (Reuters / John Kolesidis)
People reach out to take fruits and vegetables distributed for free by farmers during a protest against high production costs outside the Agriculture Ministry in Athens February 6, 2013. (Reuters / John Kolesidis)
 

People reach out for vegetables during a free distribution of fruit and vegetables on February 6, 2013. (AFP Photo / Louisa Gouliamaki)
People reach out for vegetables during a free distribution of fruit and vegetables on February 6, 2013. (AFP Photo / Louisa Gouliamaki)
 

Some Trader Has Made A Very Big Bet That Something Very Bad Will Happen Within The Next 60 Days

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art cashin
 
Stocks have been rallying relentlessly to post-crisis highs.

Meanwhile, the volatility index (aka the VIX, aka the "fear index") is near historic lows.
But according to UBS's Art Cashin, some options trader has made an enormous $11.25 million bet that the VIX will explode higher very soon.

And a rally in the VIX is usually accompanied by a drop in the stock markets.
From this morning's Cashin's Comments (emphasis ours):

A Very Big Bet In A Somewhat Unlikely Instrument – My friend, Jim Brown, the ever-alert consummate professional over at Option Investor pointed us to a rather unusual trade.  Here's what he wrote in last night's edition of his valuable newsletter:
 
In past years I have reported on trades that were so large it appeared someone had inside knowledge of a pending event. Sometimes those were massive put positions on the S&P. A new trade just appeared that suggests there will be a market event in the near future. Last week somebody put on a call spread on the VIX using the April 20 and 25 puts. They bought 150,000 contracts for a net of $75 per contract. That is an $11,250,000 bet that the VIX will move over 20 over the next 60 days. You would have to be VERY confident in your outlook to risk $11 million on a directional position with the VIX at five year lows and the markets trying to break out to new highs.
 
Jim then goes on to list some of the scheduled events and deadlines visible over the next 60 days (mostly in Washington).  When you add in the broad variety of geo-political possibilities, it's a decent reason to stay extra alert.
 
Hopefully, this person is wrong.

LOCALS BAFFLED AS MILLIONS OF DEAD FISH FOUND ALONG KOLGRAFAFJOROUR, ICE...

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Caught on Camera: Joe Biden admits gun control will not stop mass shooti...

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No new peace proposals in Obama visit to Israel – only Iran, Syria

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Talking at UN Headquarters last September
 
President Barack Obama is not coming to Israel to advance new proposals or break the peace talks deadlock with the Palestinians, the White House said Wednesday night, Feb. 6. US ambassador to Israel Dan Shapiro said earlier he was coming in the spring for consultation major issues: preventing a nuclear Iran and the collapse of the Assad regime in Syria – not to make demands. Working relations between Obama and Netanyahu were “excellent,” he said.
The US ambassador was answering a question by a Kol Israel national radio interviewer early Wednesday, Feb. 6. The US ambassador said the president does not expect to issue a joint statement after his talks with the Israeli prime minister, but sought to affirm the deep and strengthened ties between the US and Israel.

Shapiro: Obama’s visit would take place after the new Israeli government was in place.

debkafile: Obama’s forthcoming visit has abruptly strengthened the prime minister’s hand in the negotiations for a post-election government coalition and refocused its agenda from haggling on domestic issues to establishing a broad security-diplomatic front. Party leaders such as Yair Lapid (Yesh Atid) are already muting their demands for joining government.

debkafile reported Tuesday, Feb. 5:

The day Israel announced the posting of extra Iron Dome and Patriot anti-missile interceptors in its northern regions, Tuesday, Feb. 5, the White House in Washington disclosed that US President Barack Obama would be visiting Israel in the spring. The visit had been discussed when Obama phoned Israeli Prime Minister Binyamin Netanyahu on Jan. 28 to congratulate him on his success in Israel’s recent election.

The communique went on to say that the US president was coming to discuss issues of common interest such as furthering the peace process but added, the start of Obama's second term offers an opportunity to reaffirm Israel's close relationship with the US and to discuss major issues like Syria and Iran.”
debkafile translates this as referring to the chemical weapons in the hands of Syria and most likely Hizballah as well as Iran’s nuclear program. The date of his visit was not released.

debkafile’s sources have divided the White House bulletin into two parts: security and political.

The reference to Syria and Iran as the “major issues” to be discussed in the framework of the “close relationship” points to Washington and Jerusalem being on the same wavelength on the military actions taken by Israel in Syria last week and those still to come.
It is also a signal from the White House to Tehran, Damascus and Hizballah that in so far as those three allies are planning reprisals for those actions, they will find the United States standing behind Israel.

The IDF command’s announcement expanding the areas of northern Israeli under the anti-missile interceptor shield was released shortly before the White House communiqué and during Israel’s chief of staff Lt. Gen. Benny Gantz talks at US military chiefs in Washington.
According to the IDF bulletin, an extra Patriot missile interceptor and a third Iron Dome battery was deployed in Lower Galilee, a region which covers key towns north of Tel Aviv: Afula, Nazareth, Yoqn’am and Hadera. Batteries were posted earlier outside Haifa and areas of Upper Galilee closer to the Syrian and Lebanese borders.
The Israeli military command is therefore taking into account that some two million Israelis are potentially in danger of missile attack.

The Obama administration cannot be sure if the president’s visit, his first since 2008, will take place before or after a possible confrontation between Israel and Iran, Syria and Hizballah.

As for the political message, the White House announced the coming presidential visit on the day that the newly-elected Israeli Knesset held its first sitting in Jerusalem. It belied the propaganda pumped out by Netanyahu’s political foes throughout the election campaign, accusing him of souring ties with the Obama administration.
By announcing the coming visit at this time, President Obama showed the party leaders who are hanging tough in talks for a coalition government that Netanyahu has his confidence and support and the two leaders are in close rapport on major issues.
Last year, debkafile, alone of any other publication, disclosed that Obama and Netanyahu had reached an understanding to embark on regional initiatives in a spirit of partnership straight after the Israeli election.

President Obama’s trip will also include the West Bank and Jordan.

Chinese Media Urge 'Heavy Price' For North Korea Nuclear Test

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pyongyang north korea ray cunningham
 
China should exact a "heavy price" from North Korea if it carries out a planned nuclear test, state media has declared, in an unusually strongly-worded call for action.

Beijing, which has stressed calm and restraint as its unpredictable neighbour prepares to conduct its third nuclear test, has tended to avoid punitive measures against it, partly for fear of provoking regional instability.

"If North Korea insists on a third nuclear test despite attempts to dissuade it, it must pay a heavy price. The assistance it will be able to receive from China should be reduced," the Global Times said in an editorial.

" China is never afraid of Pyongyang," it said. "If Pyongyang gets tough with China, China should strike back hard, even at the cost of deteriorating bilateral relations.

Beijing was "willing to maintain the Sino-North Korean friendship" it said, "but Pyongyang should do the same".

"China shouldn't be taken hostage by North Korea's extreme actions," added the article, which appeared in both the English- and Chinese-language editions of the paper.

Last month Beijing's foreign ministry distanced itself from a similar Global Times editorial that threatened a cut-off of assistance if the test went ahead, calling the claim "only the opinion of the media".

North Korea vowed to conduct the test after the UN Security Council condemned its December 12 rocket launch in a resolution that was the product of extensive negotiations with China.

Beijing is seen as fearing the consequences of a North Korean collapse, which could send an exodus of refugees across the border and potentially lead to a reunified, US-allied Korea on its border.

China has acted as Pyongyang's main benefactor since the 1950-53 Korean War, providing vital diplomatic support and economic ties to one of the world's most isolated regimes.

THIS IS WHAT YOU WANTED? GET YOUR HEAD OUTTA THE SAND! AT THIS POINT ITS NOTHING MORE THAN STUPIDITY TO SUPPORT THIS FRAUD! Seven million will lose insurance under Obama health law

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**FILE** President Obama pauses in the State Dining Room of the White House on Jan. 24, 2013, as he announces that he will nominate Mary Joe White to lead the Security and Exchange Commission and re-nominate Richard Cordray to lead the Consumer Financial Protection Bureau, a role that he has held for the last year under a recess appointment. (Associated Press)
 
President Obama's health care law will push 7 million people out of their job-based insurance coverage — nearly twice the previous estimate, according to the latest estimates from the Congressional Budget Office released Tuesday.

CBO said that this year's tax cuts have changed the incentives for businesses and made it less attractive to pay for insurance, meaning fewer will decide to do so. Instead, they'll choose to pay a penalty to the government, totaling $13 billion in higher fees over the next decade.

But the non-partisan agency also expects fewer people to have to pay individual penalties to the IRS than it earlier projects, because of a better method for calculating incomes that found more people will be exempt.

Overall, the new health provisions are expected to cost the government $1.165 trillion over the next decade — the same as last year's projection.

With other spending cuts and tax increases called for in the health law, though, CBO still says Mr. Obama's signature achievement will reduce budget deficits in the short term.

During the health care debate Mr. Obama had said individuals would be able to keep their plans.

Hizbullah: Israel Waging 'International Campaign'

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Hizbullah
 
Hizbullah accused Israel on Wednesday of waging an “international campaign” against it after Bulgaria implicated two individuals with links to the Lebanese Shi’ite group in a bomb attack on a bus in the Bulgarian resort of Burgas last July that killed five Israeli tourists and a Bulgarian national.

According to Al-Arabiya, Naim Kassem, the terror group’s second in command, slammed the “international campaign of intimidation waged by Israel against Hizbullah,” adding that it is “ever improving its equipment and training” in order to bring about the destruction of the Jewish state.

“[T]hese charges will change nothing,” he said, referring to the Bulgarian investigation.

Bulgaria’s Foreign Minister Nickolay Mladenov warned on Tuesday that Hizbullah’s involvement in the Burgas bombing “will not go without consequences.”

Mladenov told Al Arabiya that the possibility of labeling Hizbullah as a terrorist group has been “on the table” for quite some time, but that the Bulgarian government didn’t want to make any official comments on the issue before receiving tangible evidence.

Both Israel and the United Stated urged the European Union on Tuesday to label Hizbullah a “terrorist” organization, but Europe has until now refused to do so.

“Bulgaria’s implication of Hizbullah underscores the importance of international cooperation in disrupting terrorist threats,” the White House said in a statement. “We call on our European partners as well as other members of the international community to take proactive action to uncover Hizbullah’s infrastructure and disrupt the group’s financing schemes and operational networks in order to prevent future attacks.”

“Bulgaria’s investigation exposes Hizbullah for what it is — a terrorist group that is willing to recklessly attack innocent men, women, and children, and that poses a real and growing threat not only to Europe, but to the rest of the world,” the White House said. “We commend Bulgarian authorities for their determination and commitment to ensuring that Hizbullah is held to account for this act of terror on European soil. The United States will continue to provide the Bulgarian Government assistance in bringing the perpetrators of this heinous attack to justice.”

Congress is also increasing pressure, with some 250 House members and 76 senators signing on to a letter last September urging the European Union to “stand with the United States against Hizbullah,” The Hill reported.

“The targeting of innocents cannot be tolerated by any European Union state and must be condemned forcefully and unanimously by all member nations,” Rep. Eliot Engel (D-N.Y.), the top Democrat on the House Foreign Affairs Committee, said in a statement Tuesday. “The time is now for the EU to designate Hizbullah as a terrorist organization and punish these murderers.”

Op-Ed: Exclusive: A Seat for the Pope at King David's Tomb

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An historic agreement has been drafted between Israel and the Vatican. The Israeli authorities have granted the Pope an official seat in the room where the Last Supper is believed to have taken place, on Mount Zion in Jerusalem, and where David and Solomon, Jewish kings of Judea, are considered by some researchers, to also be buried.

It is the culmination of a long campaign by the Catholic Church to regain religious stewardship over the place where Jesus is supposed to have broken bread and drunk wine with his disciples on the eve of his crucifixion.

This is an enormous issue pushed through without any public debate.

According to our sources, the agreement, which is expected to be ratified next June, gives the Pope a “special authority” over the second floor of the building, so that Christian pilgrims will be able to celebrate religious functions like Pope John Paul did in 2000.
The agreement constitutes Israel’s capitulation to the Vatican’s efforts to “Christianize” the holy site, like when a Catholic convent was built in Auschwitz.

The Catholic Church has long wanted control over part of the area on Mt. Zion so as to turn it into an international religious center for Catholics. The blueprint of the agreement reads as follows: “The Vatican hands over this use of the Cenacle to the Custody of the Holy Land which will keep the Cenacle open from 6 AM to 8 AM for the celebration of the Holy Mass”.

In the long term, the gesture will increase tensions between Jews and the large assets of the Vatican. The Church has long been working to reduce Jewish rights in Jerusalem and in the Old City. Now, after the Muslim Waqf authority expelled the Christians from the Temple Mount and turned it into a mosque, it’s the turn of the Vatican to lay its hands on the Jewish Jerusalem.

The Custody of the Holy Land, the Franciscan order who, with Vatican approval, is in charge of the holy sites, campaigns with the Arabs against Israel.
As far back as May 2000, Yasser Arafat met Islamic and Christian clergymen at the presidential offices in Ramallah to back Palestinian Arab sovereignty over Jerusalem. Among the clergymen who attended the meeting, Diodoros I, patriarch of the Greek Orthodox Church, Torkom II, patriarch of the Armenian Orthodox Church, Catholic Patriarch Michel Sabbah and officials from the Custody of the Holy Land.

"An official meeting took place in Ramallah, Palestine, at the Ministry of Foreign Affairs of the State of Palestine". This is the official note of the Vatican press office about the meeting between the Catholic officials and the PLO representatives which took place this week.

The Vatican is also asking that Israel hand over to the Vatican’s control dozens of sites, 19 in Judea and Samaria and 28 in Jerusalem. The Catholic Church want to discuss some properties on Mount of Olives, Har Hazeitim, which is the very history of the Jewish people. If you want to keep Jerusalem united, you have to keep Har Hazeitim. The Vatican knows that.

In 1989 charges were made by the Catholic authorities that Israel desecrated the Cenacle on Mount Zion. The charges, which appeared in the Italian bishops’ newspaper Avvenire, said that the Israelis put a memorial plaque on the roof of the Cenacle. The plaque was put in place after the 1948 War of Independence in memory of soldiers who fell in the Old City and whose burial place was unknown. Every year, the bereaved families cleaned the plaque.

Why did the Catholic authorities complain? Last year a similar charge was made from the Catholic authorities that Israel wants to “Judaize” Mount Zion.

Should the Vatican gain sovereignty over Mount of Zion, millions of Christian pilgrims will flock to the site, and this will threaten the Israeli presence in the Old City’s Jewish Quarter and Jewish access to the Western Wall.
The Vatican wants the Jews out of the Old City and apparently Israel’s government is agreeing with them. Turning the Cenacle into an active church is also a way of desecrating the holiness of the site known as the Tomb of David.

The Vatican and the Palestinian Liberation Organisation expressed a common position in the Basic Agreement of 15 February 2000, intended to support the recognition of a special statute for the City of Jerusalem. In the memorandum, signed by Vatican officials and the PLO, an organization dedicated to the mass deportation of Israel’s Jews, the Catholic Church wants Israel relinquishing sovereignty at the Western Wall and the Temple Mount. The Vatican-PLO agreement’s preamble on Jerusalem shows that the Vatican's attitude on Israel's capital is still stuck in the unforgivable anti-Semitic rhetoric of the 1940s.

Until 1948, Christian access to the Cenacle was severely limited, because it was used as a mosque. Since then, the State of Israel is committed to protecting the holy places of all religions, and guaranteeing the right of worship for all faiths.

But no Israeli government must tolerate any policy of division, “shared control” or “internationalization” that opens the door to a return to the Arab apartheid of Jordanian occupation between 1948 and 1967.

Jerusalem is not for sale. For thousands of years, the Cenacle area was almost always totally closed off to Jews.

Sovereignty over Mount Zion is politics, not only religion. The day after the Pope celebrated a mass on Mt. Zion in 2000, he went to Yasser Arafat headquarter to support the Palestinians’ right to return.

A few months later, the Oslo war began. And Jews were sacrified again on the altar of “peace”. It was their last supper.

This week, the Vatican in its official documents began referring to the "State of Palestine".

Panetta: Defense Budget Cuts Will Damage Economy

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Defense Secretary Leon Panetta on Wednesday laid out a grim list of spending cuts the Pentagon will have to make in the coming weeks that he said will seriously damage the country's economy and degrade the military's ability to respond to a crisis.

Slamming members of Congress as irresponsible, Panetta said lawmakers are willing to push the country off a fiscal cliff to damage their opposing political parties.

He said that if Congress doesn't pass a budget the Pentagon will have to absorb $46 billion in spending reductions in this fiscal year and will face a $35 billion shortfall in operating expenses.

"My fear is that there is a dangerous and callous attitude that is developing among some Republicans and some Democrats, that these dangerous cuts can be allowed to take place in order to blame the other party for the consequences," Panetta said in a speech at Georgetown University. "This is a kind of 'so what?' attitude that says, 'Let's see how bad it can get in order to have the other party blink'."

In separate, highly detailed memos sent to Congress, the military services described widespread civilian furloughs, layoffs and hiring freezes that will hit workers all around the country. Overall, the military will furlough 800,000 civilian workers for 22 days, spread across more than five months, and will lay off as many as 46,000 temporary and contract employees.

The Navy says it will cease deployments to South America and the Caribbean and limit those to Europe.

The Air Force warned that it would cut operations at various missile defense radar sites from 24 hours to eight hours. And the Army said it would cancel training center rotations for four brigades and cancel repairs for thousands of vehicles, radios and weapons.

"These steps would seriously damage the fragile American economy, and they would degrade our ability to respond to crisis precisely at a time of rising instability across the globe," Panetta said, adding that the self-made crisis "undermines the men and women in uniform who are willing to put their lives on the line in order to protect this country."

In addition to all of the more immediate cuts, U.S. troops are also likely to see a smaller pay hike next year than initially planned, due to strains on the budget. According to a defense official, the Pentagon will recommend that the military get a 1 percent pay increase in 2014, instead of a 1.7 percent raise.

The Georgetown appearance was likely one of Panetta's last speeches. He is set to leave the Pentagon this month. Former Republican senator Chuck Hagel has been nominated to take his place and a vote by the Senate Armed Services Committee is expected this week.


Read Latest Breaking News from Newsmax.com http://www.moneynews.com/StreetTalk/panetta-Defense-Budget-economy/2013/02/06/id/489181#ixzz2K97pR94k

Warren Buffett, who has been a cheerleader for U.S. stocks for quite some time, is dumping shares at an alarming rate.

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Billionaires Dumping Stocks, Economist Knows Why

Despite the 6.5% stock market rally over the last three months, a handful of billionaires are quietly dumping their American stocks . . . and fast.

Warren Buffett, who has been a cheerleader for U.S. stocks for quite some time, is dumping shares at an alarming rate. He recently complained of “disappointing performance” in dyed-in-the-wool American companies like Johnson & Johnson, Procter & Gamble, and Kraft Foods.

In the latest filing for Buffett’s holding company Berkshire Hathaway, Buffett has been drastically reducing his exposure to stocks that depend on consumer purchasing habits. Berkshire sold roughly 19 million shares of Johnson & Johnson, and reduced his overall stake in “consumer product stocks” by 21%. Berkshire Hathaway also sold its entire stake in California-based computer parts supplier Intel.

With 70% of the U.S. economy dependent on consumer spending, Buffett’s apparent lack of faith in these companies’ future prospects is worrisome.

Unfortunately Buffett isn’t alone.

Fellow billionaire John Paulson, who made a fortune betting on the subprime mortgage meltdown, is clearing out of U.S. stocks too. During the second quarter of the year, Paulson’s hedge fund, Paulson & Co., dumped 14 million shares of JPMorgan Chase. The fund also dumped its entire position in discount retailer Family Dollar and consumer-goods maker Sara Lee.

Finally, billionaire George Soros recently sold nearly all of his bank stocks, including shares of JPMorgan Chase, Citigroup, and Goldman Sachs. Between the three banks, Soros sold more than a million shares.

So why are these billionaires dumping their shares of U.S. companies?

After all, the stock market is still in the midst of its historic rally. Real estate prices have finally leveled off, and for the first time in five years are actually rising in many locations. And the unemployment rate seems to have stabilized.

It’s very likely that these professional investors are aware of specific research that points toward a massive market correction, as much as 90%.

One such person publishing this research is Robert Wiedemer, an esteemed economist and author of the New York Times best-selling book Aftershock.

Editor’s Note: Wiedemer Gives Proof for His Dire Predictions in This Shocking Interview.

Before you dismiss the possibility of a 90% drop in the stock market as unrealistic, consider Wiedemer’s credentials.

In 2006, Wiedemer and a team of economists accurately predicted the collapse of the U.S. housing market, equity markets, and consumer spending that almost sank the United States. They published their research in the book America’s Bubble Economy.

The book quickly grabbed headlines for its accuracy in predicting what many thought would never happen, and quickly established Wiedemer as a trusted voice.

A columnist at Dow Jones said the book was “one of those rare finds that not only predicted the subprime credit meltdown well in advance, it offered Main Street investors a winning strategy that helped avoid the forty percent losses that followed . . .”

The chief investment strategist at Standard & Poor’s said that Wiedemer’s track record “demands our attention.”

And finally, the former CFO of Goldman Sachs said Wiedemer’s “prescience in (his) first book lends credence to the new warnings. This book deserves our attention.”

In the interview for his latest blockbuster Aftershock, Wiedemer says the 90% drop in the stock market is “a worst-case scenario,” and the host quickly challenged this claim.

Wiedemer calmly laid out a clear explanation of why a large drop of some sort is a virtual certainty.

It starts with the reckless strategy of the Federal Reserve to print a massive amount of money out of thin air in an attempt to stimulate the economy.

“These funds haven’t made it into the markets and the economy yet. But it is a mathematical certainty that once the dam breaks, and this money passes through the reserves and hits the markets, inflation will surge,” said Wiedemer.

“Once you hit 10% inflation, 10-year Treasury bonds lose about half their value. And by 20%, any value is all but gone. Interest rates will increase dramatically at this point, and that will cause real estate values to collapse. And the stock market will collapse as a consequence of these other problems.”

See the Proof: Get the Full Interview by Clicking Here Now.

And this is where Wiedemer explains why Buffett, Paulson, and Soros could be dumping U.S. stocks:

“Companies will be spending more money on borrowing costs than business expansion costs. That means lower profit margins, lower dividends, and less hiring. Plus, more layoffs.”

No investors, let alone billionaires, will want to own stocks with falling profit margins and shrinking dividends. So if that’s why Buffett, Paulson, and Soros are dumping stocks, they have decided to cash out early and leave Main Street investors holding the bag.

But Main Street investors don’t have to see their investment and retirement accounts decimated for the second time in five years.

Wiedemer’s video interview also contains a comprehensive blueprint for economic survival that’s really commanding global attention.

Now viewed over 40 million times, it was initially screened for a relatively small, private audience. But the overwhelming amount of feedback from viewers who felt the interview should be widely publicized came with consequences, as various online networks repeatedly shut it down and affiliates refused to house the content.

“People were sitting up and taking notice, and they begged us to make the interview public so they could easily share it,” said Newsmax Financial Publisher Aaron DeHoog.

“Our real concern,” DeHoog added, “is the effect even if only half of Wiedemer’s predictions come true.

“That’s a scary thought for sure. But we want the average American to be prepared, and that is why we will continue to push this video to as many outlets as we can. We want the word to spread.”


Read Latest Breaking News from Newsmax.com http://www.moneynews.com/MKTNews/billionaires-dump-economist-stock/2012/08/29/id/450265?PROMO_CODE=110D8-1&utm_source=taboola#ixzz2K971uzzL


PA hopes Obama visit will mark beginning of new US policy

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US President Obama with PA President Abbas
 
The Palestinian Authority Wednesday welcomed US President Barak Obama's plan to visit the region next month and expressed hope that it would mark the beginning of a new US policy toward the Israeli-Arab conflict.

However, PA officials said it was still unclear whether Obama would meet with PA President Mahmoud Abbas in Ramallah.

The officials said that the meeting could take place in Jericho or Bethlehem for "security reasons."

Nabil Abu Ridaineh, spokesman for PA President Mahmoud Abbas, said that the Palestinians hope that the visit would eventually lead to the establishment of a Palestinian state.

Mohammed Shtayyeh, member of the Fatah Central Committee, said that the peace process would not move forward unless Obama was personally involved in the negotiations.

US Secretary of State John Kerry was scheduled to visit Ramallah in the coming weeks to prepare for Obama's visit, the PA officials said.

"Obama needs to understand that the ball remains in the Israeli court," one official told The Jerusalem Post. "We expect Obama to exert pressure on the Israeli government to stop building in the settlements, including east Jerusalem, and release Palestinian prisoners in order to pave the way for the resumption of the peace talks." Hanan Ashrawi, member of the PLO Executive Committee, also welcomed Obama's planned visit.

“We welcome President Obama’s visit, if it signals an American promise to become an honest and impartial peace broker," she said. "The US can play this positive role by engaging in an effective and constructive manner rather than by repeating the same policy of negotiations for their own sake.”

Ashrawi said that such an engagement "requires decisive curbs on Israeli violations and unilateral measures, particularly settlement activity and the annexation of Jerusalem, as well as its siege and fragmentation policies. It also requires the implementation of all prior agreements and a clear commitment to international law, human rights and multilateral participation. Any initiative must have defined objectives and a binding time frame. This must happen before Israel succeeds in finally destroying the two-state solution and hence the chances of peace.”

Ashrawi added: “Maintaining Israel’s impunity and sense of exceptionalism, while denying the Palestinian people’s rights to sovereignty, freedom and dignity, has been lethal to any meaningful pursuit of a viable and just peace. We therefore expect that this visit will rectify the failures of the past, demonstrate a new-found political will, and lead to urgent, substantive and serious action that will bring the Israeli occupation of the State of Palestine to an end."


‭‮

This breaks my heart! Hundreds of people jostled for free vegetables handed out by farmers!

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People reach out to take fruits and vegetables distributed for free by farmers during a protest against high production costs outside the Agriculture Ministry in Athens February 6, 2013. REUTERS-John Kolesidis
 
(Reuters) - Greek seamen on Wednesday ended a six-day strike that cut off dozens of islands and led to food shortages after the government ordered them back to work.
But other unions called for more action in a series of strikes by public transport workers and farmers which have underscored Greeks' anger at austerity measures.
Hundreds of people jostled for free vegetables handed out by farmers in a symbolic protest earlier on Wednesday, trampling one man and prompting an outcry over the growing desperation created by economic crisis.
Images of people struggling to seize bags of tomatoes and leeks thrown from a truck dominated television, triggering a bout of soul-searching over the new depths of poverty in the debt-laden country.
"These images make me angry. Angry for a proud people who have no food to eat, who can't afford to keep warm, who can't make ends meet," said Kostas Barkas, a lawmaker from the leftist Syriza party.
Other lawmakers from across the political spectrum decried the images "of people on the brink of despair" and the sense of "sadness for a proud people who have ended up like this".
People have seen their living standards crumble as the country faces its sixth year of recession that has driven unemployment to record highs.
Greece has been forced to push through painful wage and pension cuts demanded by its European Union and International Monetary Fund lenders as the price of bailout funds to avert bankruptcy.
FARMERS ANGRY
Greek ships sailed again from the busy ports of Piraeus and Rafina on Wednesday after the government ordered seamen to end a six-day strike aimed at securing wages and union rights.
At dawn, smiling passengers who had been stranded at Piraeus carried their luggage across the port, relieved to be boarding the ships.
But in northern and central Greece, farmers protesting high production costs and fuel prices placed their tractors on the sides of highways, threatening to block the country's main road artery if not satisfied.
In the capital, bus and trolleybus workers held a four-hour work stoppage, as did journalists at state broadcasters.
The free food handout in Athens began peacefully as hundreds of Greeks lined up in advance outside the agriculture ministry, where protesting farmers laid out tables piled high with produce, giving away 50 metric tonnes (55.11 tons) of produce in under two hours.
Tensions flared when the stalls ran out of produce and dozens of people - some carrying small children - rushed to a truck and shoved each other out of the way in the competition for what was left.
One man was treated for injuries after being trampled when he fell to the ground in the commotion.
"I never imagined that I would end up here," said Panagiota Petropoulos, 65, who struggles to get by on her 530-euro monthly pension while paying 300 euros in rent.
"I can't afford anything, not even at the fruit market. Everything is expensive, prices of everything are going up while our income is going down and there are no jobs."



Syrian rebels fight close to heart of Damascus

End Of Days News

A man stands in an empty street near a burning building hit by a mortar shell fired by Syrian Army soldiers, in the Zamalka neighbourhood of Damascus February 6, 2013. REUTERS/Goran Tomasevic
 
(Reuters) - Syrian rebels battled Bashar al-Assad's forces on the edge of central Damascus on Wednesday, opposition activists said, seeking to break his grip over districts leading to the heart of the capital.
 
Their offensive aims to break a stalemate in the city of two million people, where artillery and air strikes have prevented opposition fighters entrenched to the east from advancing despite their capture of army fortifications, the activists said.
"We have moved the battle to Jobar," said Captain Islam Alloush of the rebel Islam Brigade, referring to a district which links rebel strongholds in the eastern suburbs with the central Abbasid Square.
"The heaviest fighting is taking place in Jobar because it is the key to the heart of Damascus."
Assad, battling to crush a 22-month-old uprising in which 60,000 people have died, has lost control of large parts of the country but his forces, backed by air power, have so far kept rebels on the fringes of the capital.
State media and pro-Assad websites said rebel fighters were pushed back from Jobar and other parts of the Ghouta area of eastern Damascus.
"Our noble army is continuing its operations against the terrorists in Irbeen, Zamalka and Harasta and Sbeineh, destroying the criminal lairs," Syrian television said.
But rebels said they had made significant gains.
"Parts of the Damascus ringroad fell to us today. The road has been effectively the last remaining barrier between the Ghouta and the city," said Abu Ghazi, a rebel commander based in the eastern suburb of Irbeen.
"I don't want to give people false hopes but I think if street fighting reaches central Damascus the regime will not be able to quell it this time," he added.
A disorganized rebel advance on the city failed last year. But this time, he said, opposition fighters had established supply lines to support their offensive.
"WE WANT TO SHAKE THE REGIME"
"There is a new strategy, brigades are united. What is happening in the field is huge but it is a preparation for bigger operations," said Abu Moaz al-Agha, a leader and spokesman of the Gathering of Ansar al-Islam which includes many Islamist brigades.
"Right now we will attack checkpoints specially in Jobar that some time ago seemed impossible to come near to. We want to shake the regime."
Authorities in Damascus closed Abbasid Square and the Fares al-Khoury thoroughfare as fighters attacked roadblocks and fortifications with rocket-propelled grenades and mortars, activists said.
"The areas of Jobar, Zamalka, al-Zablatani and parts of Qaboun and the ringroad have become a battleground," activist Fida Mohammad said from Qaboun.
Assad's core forces, mostly from his minority Alawite sect, an offshoot of Shi'ite Islam, are based in Qasioun Mountain, which is part of Damascus, and on hilltops dotted with artillery pieces and multiple rocket launchers.
Estimated at 70,000 army, security and militia personnel, the core forces have a supply line to the coast that has remained open despite rebel efforts to disrupt it.
Residents reported explosions across the east and north of the capital. "The army seems to have been caught by surprise. Reports from the heart of the battle are talking about several tanks being hit and the army has been pushed to Abbasid Square," one activist said.
The rebel Liwa al-Islam unit said the operation to enter eastern parts of Damascus aimed to relieve pressure on two large southwestern suburbs that have been under army siege.
Rebels were also attacking the town of Adra, 17 km (10 miles) northeast of Damascus. Video footage purportedly showed an armored vehicle in the area being hit by a rocket. Thousands of refugees had fled to the town, which is home to Syria's largest prison.
In Jobar, mosque speakers chanted "God is Greatest" in support of opposition fighters who attacked roadblocks in the neighborhood, activists said.
They said tanks stationed on the edge of the central district of Midan, just outside the walls of Old Damascus, shelled southern districts of the city.
SUICIDE CAR BOMB
In Palmyra, 220 km (140 miles) northeast of Damascus, on the main road to the oil-producing east of the country, a suicide car bomb struck a military intelligence compound, causing dozens of casualties, opposition campaigners said.
A bomb destroyed part of the back wall of the compound near the Roman-era ruins in the city and then a suicide car bomber drove through, detonating the vehicle and destroying parts of the facility, activists in Palmyra said.
They said it was not immediately clear how many people had been killed in the blast and clashes which followed. Video footage, which could not be immediately verified, showed a large cloud of thick smoke rising in the city.
"The first car bomb struck at around six in the morning. The second one, which caused the larger explosion, broke through into the compound 10 minutes later," activist Abu al-Hassan said from the city.
He said tanks in the compound fired shells in response into an adjacent neighborhood, killing several civilians.
Roadblocks across the city also came under attack.
The state news agency said two "suicide terrorists" blew up cars packed with explosives near a garage in a residential district, killing and wounding several people. Among those killed was a woman, it said.
Street demonstrations against Assad's rule erupted in Palmyra at the beginning of the revolt almost two years ago. But the army has since tightened control of the city, which is situated near a major oil pipeline junction.
After a failed uprising in the 1980s led by the Muslim Brotherhood against the rule of Assad's father, the late President Hafez al-Assad, thousands of political prisoners were executed in a military jail in Palmyra.
 

Tunisia protests after government critic shot dead

End Of Days News

A protester throws a tear gas canister back at police during clashes in Tunis February 6, 2013. REUTERS- Zoubeir Souissi
 
(Reuters) - A fierce critic of the Tunisian government's dealings with radical Islamists was shot dead on Wednesday, sending protesters onto the streets two years after their Jasmine Revolution sparked revolt across the Arab world.
 
The headquarters of the moderate Islamist Ennahda party, which rules in a fractious coalition with secularists, was set ablaze after Chokri Belaid, an outspoken, secular leader, was gunned down outside his home in the capital.
His party and others in the opposition parties said they would quit the assembly that is writing a new constitution and called a general strike for Thursday when Belaid will be buried.
Prime Minister Hamadi Jebali, who said the identity of the attacker was not known, condemned his killing as a political assassination and a strike against the "Arab Spring" revolution. Ennahda denied any involvement.
As Belaid's body was taken by ambulance through Tunis from the hospital where he died, police fired teargas towards about 20,000 protesters at the Interior Ministry chanting for the fall of the government.
"This is a black day in the history of modern Tunisia ... Today we say to the Islamists, 'get out' ... enough is enough," said Souad, a 40-year-old teacher outside the ministry.
"Tunisia will sink in the blood if you stay in power."
Despite calls for calm from the president, who is not an Islamist, thousands also demonstrated in cities including Mahdia, Sousse, Monastir and Sidi Bouzid, the cradle of the revolution, where police fired teargas and warning shots at protesters who set cars and a police station on fire.
While Belaid's nine-party Popular Front bloc has only three seats in the constituent assembly, the opposition jointly agreed to pull its 90 or so members out of the body, which is acting as parliament and writing the new post-revolution charter. Ennahda and its fellow ruling parties have some 120 seats.
The small North African state was the first Arab country to oust its leader and hold free elections as uprisings spread around the region in 2011, leading to the ousting of the rulers of Egypt, Yemen and Libya and to the civil war in Syria.
But as in Egypt, many who campaigned for freedom from repression under autocratic rulers and better prospects for their future now feel their revolutions have been hijacked by Islamists they accuse of clamping down on personal liberties, with no sign of new jobs or improvements in infrastructure.
Tunisia's new constitution will pave the way for new elections but will inevitably be a source of friction between secularists and Islamists, just as it was in Egypt, where the president adopted sweeping powers to force it through.
The ruling parties have agreed to hold the vote in June, but that date still needs approval by the assembly.
HARDSHIP
Since the uprising, the government has faced a string of protests over economic hardship and Tunisia's future path, with many complaining hardline Salafists were taking over the revolution in the former French colony once dominated by a secular elite under the autocratic rule of Zine al-Abidine Ben Ali.
Last year, Salafist groups prevented several concerts and plays from taking place in Tunisian cities, saying they violated Islamic principles. That worries the secular-minded among the 11 million Tunisians, who fear freedom of expression is in danger.
Salafists also ransacked the U.S. embassy in Tunis in September, during international protests over an Internet video mocking Islam.
The embassy issued a statement on Wednesday condemning Belaid's killing: "There is no justification for this heinous and cowardly act," it said. "Political violence has no place in the democratic transition in Tunisia."
The United States urged the Tunisian government to bring his killers to book.
Declining trade with the crisis-hit euro zone has left Tunisians struggling to achieve the better living standards many had hoped for following Ben Ali's departure. Any further signs of unrest could scare off tourists vital to an industry only just recovering from the revolution.
"More than 4,000 are protesting now, burning tires and throwing stones at the police," Mehdi Horchani, a Sidi Bouzid resident, told Reuters. "There is great anger."
Jobless graduate Mohamed Bouazizi set himself on fire in December 2010 in the city, 300 km (180 miles) southwest of Tunis, after police confiscated his unlicensed fruit cart, triggering the "Jasmine Revolution" that forced Ben Ali to flee to Saudi Arabia less than a month later, on January 14, 2011.
President Moncef Marzouki, who last month warned the tension between secularists and Islamists might lead to "civil war", canceled a visit to Egypt scheduled for Thursday and cut short a trip to France, where he addressed the European Parliament.
"There are political forces inside Tunisia that don't want this transition to succeed," Marzouki told journalists in Strasbourg.
"When one has a revolution, the counter revolution immediately sets in because those who lose power - it's not only Ben Ali and his family - are the hundreds of thousands of people with many interests who see themselves threatened by this revolution," he added.
Belaid, who died in hospital, said earlier this week that dozens of people close to the government had attacked a Popular Front group meeting in Kef, northern Tunisia, on Sunday.
A lawyer and human rights activist, the 48-year-old had been a constant critic of the government, accusing it of being a puppet of the rulers in the small but wealthy Gulf state of Qatar, which Tunisia denies.
"Chokri Belaid was killed today by four bullets to the head and chest," Ziad Lakhader, a Popular Front leader, told Reuters.
The Interior Ministry said he had been gunned down by a man who fled on a motorcycle with an accomplice.
DENIES INVOLVEMENT
Prime Minister Jebali, a member of Ennahda, said the killers wanted to "silence his voice".
"The murder of Belaid is a political assassination and the assassination of the Tunisian revolution," he said.
Ennahda leader Rached Ghannouchi denied any involvement by his party in the killing. "Is it possible that the ruling party could carry out this assassination when it would disrupt investment and tourism?" Ghannouchi told Reuters.
He blamed those seeking to derail Tunisia's democratic transition: "Tunisia today is in the biggest political stalemate since the revolution. We should be quiet and not fall into a spiral of violence. We need unity more than ever," he said.
He accused secular opponents of stirring up sentiment against his party following Belaid's death. "The result is burning and attacking the headquarters of our party in many areas," he said.
Witnesses said crowds had also attacked Ennahda offices in Sousse, Monastir, Mahdia and Sfax.
French President Francois Hollande said he was concerned by the rise of violence in Paris's former dominion, where the government says al Qaeda-linked militants linked to those in neighboring countries have been accumulating weapons with the aim of creating an Islamic state.
"This murder deprives Tunisia of one of its most courageous and free voices," Hollande's office said in a statement.
Riccardo Fabiani, Eurasia analyst on Tunisia, described it as a "major failure for Tunisian politics".
"The question is now what is Ennahda going to do and what are its allies going to do?" he said. "They could be forced to withdraw from the government which would lead to a major crisis in the transition."
Marzouki warned last month that the conflict between Islamists and secularists could lead to civil war and called for a national dialogue that included all political groupings.
Ennahda won 42 percent of seats in a parliamentary election in 2011 and formed a government in coalition with two secular parties, the Congress for the Republic, to which President Marzouki belongs, and Ettakatol.
Marzouki's party threatened on Sunday to withdraw from the government unless it dropped two Islamist ministers.
 
 


Solomon Islands hit by 8.0 quake and tsunami, at least 5 dead

End Of Days News

NASA photo of Nendo, the largest of the Santa Cruz Islands
 
An 8.0-magnitude earthquake struck the Solomon Islands in the South Pacific on Wednesday. At least five people died as the disaster reportedly flattened several coastal villages.
Five people were confirmed dead in the disaster. They were two elderly men, two elderly women and a boy aged between 10 and 12, local medics said.
The epicenter of the tremor was located at a shallow depth of 5.8 km in the area of the Santa Cruz Islands, the US Geological Survey initially reported. It later revised it to a much greater depth of 28.7 km. The first tremor was followed shortly after by two strong aftershocks – one rated at magnitude 6.4 and another at 6.6 – and dozens smaller ones over the next few hours.
At least three villages along the Lata coast have been reported destroyed, Director of Nursing Augustine Bilve at Lata Hospital told New Zealand’s One News. He said up to 700 people lived in the affected villages and the hospital was expecting many casualties.
“It's more likely that other villages along the coast of Santa Cruz would also be affected," Bilve added.
A tsunami wave measuring 0.9 meters reportedly hit the Solomon Islands. The Pacific Tsunami Warning Center issued a tsunami warning for the Solomon Islands, Vanuatu, Nauru, Papua New Guinea, Tuvalu, New Caledonia, Kosrae, Fiji, Kiribati, and Wallis and Futuna islands.
"Sea level readings indicate a tsunami was generated," the Hawaii-based Pacific centre said. "It may have been destructive along coasts near the earthquake epicentre and could also be a threat to more distant coasts."
The warning prompted residents in Honiara, the Solomons’ coastal capital, to flee for higher ground to the hills outside the city. But the situation mostly remained calm with no signs of panic, according to local media.
"People around the coast and in the capital are ringing in and trying to get information from us and the National Disaster Office and are slowly moving up to higher ground," said Atenia Tahu, who works for the Solomon Islands Broadcasting Corp. in Honiara. "But panic? No, no, no, people are not panicking."
A medical official on the main Santa Cruz island of Ndende said that there were reports of destruction. "The information we are getting is that some villages west and south of Lata along the coast have been destroyed, although we cannot confirm this yet," the director at Lata Hospital, told AFP.
The Solomons comprise more than 200 islands and are home to about 552,000 people. The archipelago lies on the Pacific Ring of Fire, an arc of seismically-active zones stretching around the Pacific Rim, making quakes common there. A magnitude 8.1 quake that hit Solomon Islands in April 2007 killed more than 50 people and left thousands without homes.
Map locating the epicentre of an 8.0 magnitude quake that struck off Solomon Islands.
 

Endtime News Updates 2-6-13 with Hummingbird027

End Of Days News

YES, Ahmadejad comes in peace and the mean Israelis are out to destroy the world! What Bologna! Ahmadinejad: We’re a nuclear state, but we won’t strike Israel

End Of Days News

Iran's President Mahmoud Ahmadinejad meets with Grand Sheik Ahmed al-Tayeb, the head of Al-Azhar, the Sunni Muslim world's premier Islamic institution on Tuesday, Feb. 5, 2013 (photo credit: AP/Amr Nabil)
 
ranian President Mahmoud Ahmadinejad has claimed that his country has attained nuclear capabilities, but will not use them to strike Israel.
In an interview published Wednesday by Egyptian establishment daily Al-Ahram, Ahmadinejad said that even though “the Zionists” are intent on attacking Iran, Iran is “not planning a military strike against them, because our system is defensive.”
On the second day of a three-day visit to Egypt, Ahmadinejad warned Israel against launching a preemptive strike against Iran’s nuclear facilities, saying that such an attack would cause grave consequences for the Jewish state.
“Launching missiles or a fighter jet would not be difficult [for Israel], but what is important is the reaction to such a strike, as well as Iran’s defensive capabilities,” he said.
Speaking of Iran’s technological advances, Ahmadinejad claimed that his country is now “an industrial country, a nuclear and aerospace country.” He told Al-Ahram that for years Iran has dreamed of launching a man into space, and will do so in the future. The Iranian president did not acknowledge that Iran was developing nuclear capabilities for military purposes.
“From now on, the world should treat Iran as a nuclear state,” he said, challenging the West to recognize Iran’s technological advances and cooperate with it.
Zionists, Ahamadinejad argued, are playing a special role in the world, taking control of political positions of power, natural resources and money. They also strive “to monopolize many sectors by destroying cultures and economies and by waging wars.”
Ahmadinejad highlighted the economic woes of the United States, saying it was in the process of transferring its problems to the rest of the world “through the dollars.” America, he added, continues to push its hegemony by “placing its hands in the pockets of others.”
Addressing the Egyptian fear of Iranian-backed Shiite proselytizing, Ahmadinejad denied any official Iranian policy of spreading Shiite Islam in the Arab world, while acknowledging that some individuals may be involved in such activity.
Attending a summit of the Organisation of Islamic Co-operation in Cairo on Wednesday, Ahmadinejad is the first Iranian leader to visit Egypt in 35 years. Following the Islamic revolution in 1979, Iran cut diplomatic relations with Egypt, which sheltered the deposed Shah and signed peace accords with Israel. The Islamic Republic subsequently named a Tehran street after the assassin of Egyptian president Anwar Sadat, Khaled Islambouli.