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The attacks on physical cash from a phalanx of economists, central bankers, commercial banks, and politicians have not diminished in recent years. On the contrary, in the face of the worldwide increase in terror attacks, particularly in Europe, and ongoing pressure on public budgets, the cash ban issue is increasingly dragged into the spotlight.

In a highly-recommended study entitled “Cash, Freedom and Crime. Use and Impact of Cash in a World Going Digital,” Deutsche Bank Research demolishes numerous popular myths surrounding cash, inter alia in the context of crime and terrorism. Without cash there are no longer bank robberies at gun point, instead there are now electronic bank robberies. Fraud involving credit cards and ATM cards is massively increasing in Sweden, the country considered the pioneer of the cashless society. The argument that adopting a cashless payment system would facilitate the fight against terrorism doesn’t hold water either:

As regards terrorism in Europe, an analysis of 40 jihadist attacks in the past 20 years shows that most funding came from delinquents’ own funds and 75% of the attacks cost in total less than USD 10,000 to carry out — sums that will hardly raise suspicions even if paid by card.

Moreover, many terrorists, particularly if they are prepared to risk their own death, won’t be deterred by prohibitions, just as stricter gun laws have no impact on people who must use unregistered weapons for their crimes. Often, they are unable to get hold of a weapon by legal means anyway if they have a criminal record. Planned terror attacks are as a rule characterized by a meticulous and careful approach. At best a cash ban might make financing of terrorism more difficult (even that is doubtful), but at the price of subjecting the law-abiding peaceful population at large to even more intrusive surveillance.

…click on the above link to read the rest of the article…

Israeli Jets Bomb Damascus Military Airport; Syria Vows It Will Respond To “Flagrant Attack”

January 12, 2017

Israeli Jets Bomb Damascus Military Airport; Syria Vows It Will Respond To “Flagrant Attack”

Just as the Syrian proxy war showed some hopeful signs of finally dying down, the Syrian army command said on Friday that Israeli jets have bombed the Mezzeh military airport west of Damascus, accusing Tel Aviv of supporting terrorism, and warned Tel Aviv of repercussions of what it called a “flagrant” attack. Syrian state TV quoted the army as saying several rockets were fired from an area near Lake Tiberias in northern Israel just after midnight which landed in the compound of the airport, a major facility for elite Republican Guards and special forces. The airport was rocked by multiple explosions, some of which were captured by social media.

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Video shows large flames after military airport near Damascus bombed at least 8 times by suspected Israeli jets tonight.

7:34 PM – 12 Jan 2017

“Syrian army command and armed forces warn Israel of the repercussions of the flagrant attack and stresses its continued fight against (this) terrorism and amputate the arms of the perpetrators,” the army command said in a statement.

…click on the above link to read the rest of the article…

Europe Proposes Confiscating Gold In Crackdown On “Terrorist Financing”

December 27, 2016

Europe Proposes Confiscating Gold In Crackdown On “Terrorist Financing”

Hot on the heels of China gold import restrictions, and India’s demonetization and gold confiscations, The European Commission proposed tightening controls on cash and precious metals transfers from outside the EU under theguise of shutting down one route for funding of militant attacks on the continent, following the Berlin Christmas attack.

China has already begun de facto gold import restrictions, and as Jayant Bhandari detailed previously, India is experiencing a continuation of new social engineering notifications, each sabotaging wealth-creation, confiscating people’s wealth, and tyrannizing those who refuse to be a part of the herd, in the process destroying the very backbone of the economy and civilization. There are clear signs that in a very convoluted way, possession of gold for investment purposes will be made illegal. Expect capital controls to follow.

And now, as Reuters reports, it appears last Monday’s attack on a Christmas market in Berlin, where 12 people were killed as a truck ploughed into a crowd, has given The European Commission just the excuse to tighten capital controls – specifically cash and precious metals – into and out of Europe.

It is part of an EU “action plan against terrorist financing” unveiled after the bombings and shootings in Paris in November 2015.

Under the new proposals, customs officials in European Union states can step up checks on cash and prepaid payment cards sent by post or in freight shipments.

Authorities will also be able to seize cash or precious metals carried by suspect individuals entering the EU.

People carrying more than 10,000 euros (8,413.56 pounds) in cash already have to declare this at customs when entering the EU. The new rules would allow authorities to seize money below that threshold “where there are suspicions of criminal activity,” the EU executive commission said in a note.

…click on the above link to read the rest of the article…

Gold Price Skyrockets in India after Currency Ban

November 12, 2016

Gold Price Skyrockets in India after Currency Ban

India’s Government Makes Banknotes Worthless by Decree Overnight

As I write this in the morning of 9th November 2016, there are huge lines forming outside gold shops in India — and gold traded heavily until late into the night yesterday. Depending on who you ask, the retail price of gold has gone up between 15% and 20% within the last 10 hours.

img-20161109-wa0003 Gold quotes in India – gold traded for as much as Rs 49,000 per 10 grams or US$ 2,294 per ounce

At some places, it was sold for as much as US$ 2,294 per ounce. That is, if you can actually find physical gold — gold inventories at stores are rapidly depleting. All of this happened well before the international price started to move up because of the election results coming out of the US.

Last night (8th November 2016), India’s government banned the use of Rs 500 (~$7.50) and Rs 1,000 ($15) banknotes. This pretty much made most currency-in-use illegal. Banks and ATMs are closed today. The government believes that doing this will help eradicate corruption and push counterfeit money out of circulation. According to the Indian government, the counterfeit money tends to come from Pakistan and helps finance terrorism.

My first instinct when I heard the news was that people would be on the streets this morning. There would be riots and the Indian Prime Minister, Narendra Modi, would be unceremoniously thrown out. Despite being a huge critic of him, I thought he at least had the spine to take bold action, however erroneous it might have been.

I am sometimes too optimistic about India and expect too much goodness from Indians. And I was wrong.

In the morning no opposition against the government was in sight. But there was some animosity detectable between people.

…click on the above link to read the rest of the article…

A Political Hurricane is About to Sweep Across Europe

September 10, 2016

A Political Hurricane is About to Sweep Across Europe

If you’ve been paying attention, you could see this coming a mile away. Although I’ve forecast huge political shifts in the West for years now, I made my strongest prediction on European changes late last year following the Paris terror attacks.

In the post, A Message to Europe – Prepare for Nationalism I wrote:

Actions have consequences, and people can only be pushed so far before they snap. I believe the Paris terror attacks will be a major catalyst that will ultimately usher in nationalist type governments in many parts of Europe, culminating in an end of the EU as we know it and a return to true nation-states. Although I think a return to regional government and democracy is what Europeans need and deserve, the way in which it will come about, and the types of governments we could see emerge, are unlikely to be particularly enlightened or democratic after the dust has settled.

A few months later, Brexit shocked the world when the British public voted to leave the European Union. While this event represents a moment of huge historical significance, Brexit is just the start of a much, much bigger trend.

As the Wall Street Journal reported earlier this week in a very important article:

BERLIN—Growing populist forces shook Europe’s pillar of stability this weekend, as an unprecedented defeat for Chancellor Angela Merkel’s conservatives in Germany signaled more political tumult across the continent.

For the first time in postwar history, Ms. Merkel’s Christian Democrats finished behind a populist challenger to their political right in a state election. Riding a wave of discontent with her migration policy, the Alternative for Germany—a three-year-old anti-immigrant party—beat the chancellor’s party in her home state, spurring her allies to debate Monday whether she should change course.

…click on the above link to read the rest of the article…

Germany Prepares For Domestic Troop Deployments As “Catastrophic” Terrorist Attack Deemed “Conceivable, Even Probable”

September 10, 2016

Germany Prepares For Domestic Troop Deployments As “Catastrophic” Terrorist Attack Deemed “Conceivable, Even Probable”

Merkel continues to publicly defend her “open border” immigration policies despite continued erosion of her popularity amid rising nationalist sentiments in Germany and across the EU. Meanwhile, Germany is preparing to deploy troops within its borders for the first time since World War II amid growing fears that the potential for a large-scale terrorist attack is “conceivable, even probable,” at least according to Lt. Gen. Martin Schelleis.

Concerns of a potential threat come as nearly 30,000 asylum seekers continue to flood the country each month from Syria alone (see chart below). Overall, Germany took in about 2.1 million immigrants last year and over half of them were refugees.

Which has resulted in a spike in terrorist attacks….

Plans to utilize soldiers for counter-terrorism efforts within domestic borders is a very controversial concept for a country only seven decades removed from totalitarian rule. Such efforts weren’t even allowed until a court decision in 2012 which expanded Article 35 of the German constitution to allow armed forces to be deployed within domestic borders but only in response to a terrorist attack of “catastrophic proportions.”

Per Schelleis, German military assets are critical for providing a quick, effective response to a large-scale terrorist attack. Per NBC:

“What matters in a large-scale terrorist situation is that quick and effective action is taken,” he told NBC News. “This calls for the procedures to be coordinated and practiced.”

Schelleis added the military assistance on offer could include low-altitude air space surveillance, checkpoints, explosive ordnance disposal and even advice on nuclear, biological and chemical threat situations.

“We could also provide mobile laboratory capabilities,” Schelleis said. “Our troops are excellently trained. The same applies to medical personnel, who are well versed in treating gunshot and burn injuries.”

…click on the above link to read the rest of the article…

U.S. Blocks Former British Ambassador From Entering America

September 10, 2016

U.S. Blocks Former British Ambassador From Entering America

He is not a terrorist and is not a social media jihadi. He has no criminal record, no connection to drug smuggling, and does have a return ticket, a hotel reservation and ample funds to cover his expenses.

The United States over the weekend denied travel to a former British ambassador, Craig Murray, who was also a British diplomat for some 30 years, and is the author of several books.

Murray has stood twice for election to the House of Commons. He was “honored” by being thrown out of Uzbekistan by its repressive government after risking his life to expose appalling human rights abuses there. He is not a terrorist and is not a social media jihadi. He has no criminal record, no connection to drug smuggling, and does have a return ticket, a hotel reservation and ample funds to cover his expenses.

He is however seen as a threat to the United States.

Ambassador Murray was headed to the U.S. this week to be Master of Ceremonies at an award ceremony honoring John Kiriakou, the CIA torture whistleblower. Kiriakou was the only U.S. government official to go to jail in connection with the torture program, and all he did was help expose it to the media. The event is sponsored by Sam Adams Associates for Integrity in Intelligence (of which I am a member.)

Murray has also spoken in support of Wikileaks’ Julian Assange. Hmm. Might have something to do with this visa problem.
No one has told Murray why he cannot travel to the U.S., though he has been here numerous times over the past 38 years. Murray learned of his travel bar when applying for the online clearance the U.S. requires of all “visa free” travelers. Murray was electronically informed to contact the State Department to see if he might qualify otherwise.

…click on the above link to read the rest of the article…

UN Plots War On Free Speech To Stop “Extremism” Online

May 16, 2016

UN Plots War On Free Speech To Stop “Extremism” Online

The United Nations Security Council wants a global “framework” for censoring the Internet, as well as for using government propaganda to “counter” what its apparatchiks call “online propaganda,” “hateful ideologies,” and “digital terrorism.” To that end, the UN Security Council this week ordered the UN “Counter-Terrorism Committee” — yes, that is a real bureaucracy — to draw up a plan by next year. From the Obama administration to the brutal Communist Chinese regime, everybody agreed that it was time for a UN-led crackdown on freedom of speech and thought online — all under the guise of fighting the transparently bogus terror war.

The UN, ridiculed by American critics as the “dictators club,” will reportedly be partnering with some of the world’s largest Internet and technology companies in the plot. Among the firms involved in the scheme is Microsoft, which, in a speech before the Security Council on May 11, called for “public-private partnerships” between Big Business and Big Government to battle online propaganda. As this magazine has documented, Google, Microsoft, Yahoo, and other top tech giants have all publicly embraced the UN and its agenda for humanity. Many of the more than 70 speakers also said it was past time to censor the Internet, with help from the “private sector.”

At the UN meeting this week, the 15 members of the UN Security Council, including some of the most extreme and violent dictatorships on the planet, claimed they wanted to stop extremism and violence from spreading on the Internet. In particular, the governments pretended as if the effort was aimed at Islamist terror groups such as ISIS and al-Qaeda, both of which have received crucial backing from leading members of the UN Security Council itself. Terrorism was not defined. Everybody agreed, though, that terror should not be associated with any particular religion, nationality, ethnicity, and so on, even though at least one delegation fingered the Israeli government.

…click on the above link to read the rest of the article…

Defence industry poised for billion dollar profits from global riot ‘contagion’

May 7, 2016

Riot gear on sale at the 2015 Milipol security expo in Paris (Credit: IB Times)

Defence industry poised for billion dollar profits from global riot ‘contagion’

Forecasts of relentless civil unrest in the US, Europe, Middle East, Africa and Asia seen as massive ‘investment opportunity’

The next five years will see the international market for ‘riot control systems’ boom to a value of more than $5 billion at an annual growth rate of 5%, according to a new report by a global business intelligence firm.

The report forecasts a dramatic rise in civil unrest across the world, including in North America and Europe, driven by an increase in Ferguson-style incidents and “extremist attacks.”

The Middle East, North Africa and Asia-Pacific regions will also experience a persistent rise in conflicts.

This increasing trend in instability promises billions of dollars of profits for global defence firms, concludes the report, published last month by Infiniti Research Ltd., a market intelligence firm whose clients include Fortune 500 companies.

“Protests, riots, and demonstrations are major issues faced by the law enforcement agencies across the world,” said Abhay Singh, a lead defence technology analyst at the firm. “In addition the increase in incidents of civil wars in countries such as Syria, Iraq, Lebanon, and Egypt along with an increase in the global defence budget will generate demand for riot control systems.”

Europe, the Middle East and Africa will be the largest market, collectively experiencing a rate of growth at over 5%, exceeding $2 billion by 2020. Under the subheading, ‘EMEA: increase in extremist attacks to boost growth’, the report, priced at over $2,000, explains:

“Over the past years, Europe witnessed an increase in extremist attacks, which has raised concerns among the law enforcement and defense industries to equip themselves with modern equipment and protect civilians from external threats. In 2015, the Paris attacks and the killing of journalists in France are some of the examples of growing terrorism in Europe.”

…click on the above link to read the rest of the article…

The Great Western Retreat

May 5, 2016

The Great Western Retreat

Of all French soldiers currently engaged in military operations, half of them are deployed inside France. And half of those are assigned to protect 717 Jewish schools.
This massive deployment of armed forces in our own cities is a departure from history. It is a moral disarmament, before a military one.
Why does anyone choose to fight in a war? Civilized nations go to war so that members of today’s generation may sacrifice themselves to protect future generations. But if there are no future generations, there is no reason whatever for today’s young men to die in war. It is “demography, stupid.”

On March 11, 2004, 192 people were killed and 1,400 wounded in a series of terrorist attacks in Madrid. Three days later, Spain’s Socialist leader, José Luis Rodríguez Zapatero, was elected prime minister. Just 24 hours after being sworn in, Zapatero ordered Spanish troops to leave Iraq “as soon as possible.”

The directive was a monumental political victory for extremist Islam. Since then, Europe’s boots on the ground have not been dispatched outside Europe to fight jihadism; instead, they have been deployed inside the European countries to protect monuments and civilians.

“Opération Sentinelle” is the first new large-scale military operation within France. The army is now protecting synagogues, art galleries, schools, newspapers, public offices and underground stations. Of all French soldiers currently engaged in military operations, half of them are deployed inside France. And half of those are assigned to protect 717 Jewish schools. Meanwhile, French paralysis before ISIS is immortalized by the image of police running away from the office of the satirical magazine Charlie Hebdo during the massacre there.

You can find the same figure in Italy: 11,000 Italian soldiers are currently engaged in military operations and more than half of them are used in operation “Safe Streets,” which, as its name reveals, keeps Italy’s cities safe. Italy’s army is also busy providing aid to migrants crossing the Mediterranean.

…click on the above link to read the rest of the article…

Nuclear Weapons in Lithuania: Defense against Russia or Target for Terrorists?

April 12, 2016

Nuclear Weapons in Lithuania: Defense against Russia or Target for Terrorists?

ISKa, cc Flickr Times Asi, modified, https://creativecommons.org/licenses/by/2.0/

A complex geopolitical situation is forcing the Baltic States and their NATO allies to take unprecedented steps to increase defense capabilities and counter potential aggressors. A new Lithuanian military strategy approved in March describes Russian actions along with terrorism as the main threats for the security of Lithuania, as reported by Delfi.

Unfortunately for the pacifists, the Alliance and Russia today are arming and demonstrating their respective military power. They constantly compare their armed forces’ strength and capabilities, conduct large-scale military exercises, respond to each other by deploying new contingents and military equipment closer and closer to the NATO-Russian border.

The Baltic States have become such a border.

Moscow has placed Iskander-M launchers in Kaliningrad. The Russian Iskander is capable of carrying a nuclear warhead and has never been made available to any foreign army for operational use. The weapon affords Russia the ability to use its Baltic enclave to threaten US missile defense installations in Poland and more generally to intimidate its neighbors – the Baltic States.

During combat operations, it would be used to destroy both stationary and moving targets. Targets would range from surface-to-air missile batteries, enemy short-range missiles, airfields, ports, command and communication centers, factories, and other hardened targets.

The commander of US military aviation in Europe and Africa, General Frank Gorenc, said the increasingly powerful Russian air defense raises serious concerns for US military aviation.

He said that the Pentagon is particularly concerned about the Russian air defense system in the Kaliningrad region, a Russian enclave which borders Lithuania and Poland: “Russia now creates the strategy of limiting / blocking access. I do not remember anything else that would bother me as much as this strategy now and it worries me. Russian air defense in the Kaliningrad area increasingly threatens NATO military access to air space in parts Europe.”

…click on the above link to read the rest of the article…

Governments Admit that Much of Modern History Has Been Manipulated By False Flag Attacks

March 31, 2016

Governments Admit that Much of Modern History Has Been Manipulated By False Flag Attacks

Painting by Anthony Freda

Presidents, Prime Ministers, Congressmen, Generals, Spooks, Soldiers and Police ADMIT to False Flag Terror

In the following instances, officials in the government which carried out the attack (or seriously proposed an attack) admit to it, either orally, in writing, or through photographs or videos:

(1) As admitted by secret Russian police files that are part of the Hoover Institution’s archives, the Russian Tsar’s secret police set off bombs and killed people in order to blame and arrest labor agitators. And see this.

(2) Japanese troops set off a small explosion on a train track in 1931, and falsely blamed it on China in order to justify an invasion of Manchuria. This is known as the “Mukden Incident” or the “Manchurian Incident”. The Tokyo International Military Tribunal found: “Several of the participators in the plan, including Hashimoto [a high-ranking Japanese army officer], have on various occasions admitted their part in the plot and have stated that the object of the ‘Incident’ was to afford an excuse for the occupation of Manchuria by the Kwantung Army ….” And see this.

(3) A major with the Nazi SS admitted at the Nuremberg trials that – under orders from the chief of the Gestapo – he and some other Nazi operatives faked attacks on their own people and resources which they blamed on the Poles, to justify the invasion of Poland.

(4) Nazi general Franz Halder also testified at the Nuremberg trials that Nazi leader Hermann Goering admitted to setting fire to the German parliament building in 1933, and then falsely blaming the communists for the arson.

…click on the above link to read the rest of the article…

A European PATRIOT Act Will Not Keep People Safe

March 28, 2016

A European PATRIOT Act Will Not Keep People Safe

It was not long after last week’s horrifying bombings in Brussels that the so-called security experts were out warning that Europeans must give up more of their liberty so government can keep them secure from terrorism. I guess people are not supposed to notice that every terrorist attack represents a major government failure and that rewarding failure with more of the same policies only invites more failure.

I am sure a frightened population will find government promises of perfect security attractive and may be willing to allow more surveillance of their personal lives. They should pause a little beforehand and consider what their governments have done so far to keep them “safe.”

The government of France, for example, has been particularly aggressive in its Middle East policy. Then-French President Sarkozy was among the most determined proponents of “regime change” in Libya. That operation has left the country in chaos, with much of the territory controlled by an ISIS and al-Qaeda that were not there before the “liberation.” As we learned last week from Hillary Clinton’s emails, Sarkozy and British Prime Minister David Cameron were much more concerned with getting their hands on Libya’s oil after the overthrow of Gaddafi. The creation of a hotbed of terrorism that could easily make its way to Europe was not important. They wanted to secure enormously profitable deals for well-connected French and English energy companies.

Likewise, European governments have been very active in the five-year, US-led effort to overthrow the Assad government in Syria. This foolish move has boosted both ISIS and al-Qaeda in Syria to the point where they nearly over-ran the country late last year. It has also led millions to flee their war-torn country for a Europe that has opened its doors with the promise of generous benefits to anyone who can make it there.

…click on the above link to read the rest of the article…

China Warns Officials: Allow Social Unrest, Lose Your Job

March 27, 2016

China Warns Officials: Allow Social Unrest, Lose Your Job

To be sure, there are always going to be financial and geopolitical landmines and every once in awhile we – and by “we” we’re referring to the market, or the country, or humanity, or whatever collective you want to choose – are going to step on one on the way to ushering in a black swan event.

But when we look out across markets and across the political landscape it’s difficult to escape the feeling that there are more black swans waiting in the wings – so to speak – than usual. There’s the threat of a dirty bomb being detonated in a crowded Western European urban center for instance. Or the chance that Turkey ends up “accidentally” killing a Russian or Iranian soldier while shelling the Azaz corridor. And how about the possibility that China tries to save its economy by chancing a 30% devaluation of the yuan and inadvertently plunges the world into a crisis far worse than 2008?

The interesting thing to note about the third crisis event listed above is that an economic implosion in China may spawn a black swan far larger than that which would emanate from a crisis in the country’s banking sector and/or a deeper devaluation of the RMB.

As we’ve discussed on multiple occasions of late, China desperately needs to purge its economy of excess capacity. The industrial sector is weighed down by too much debt and too little demand, but an acute overcapacity problem prevents the market from getting anywhere close to clearing. Either Beijing moves quickly to ameliorate this, or else a wave of defaults will ripple through the industrial complex on the way to crippling the country’s banking sector, where NPLs are probably at least five times greater than the official numbers suggest.

…click on the above link to read the rest of the article…

How Politicians Duck the Blame for Terrorism

March 21, 2016

How Politicians Duck the Blame for Terrorism

The capture of Salah Abdeslam, thought to be the sole surviving planner of the Paris massacre, means that the media is focusing once again on the threat of terrorist attack by Islamic State. Questions are asked about why the most wanted man in Europe was able to elude the police for so long, even though he was living in his home district of Molenbeek in Brussels. Television and newspapers ask nervously about the chances of Isis carrying out another atrocity aimed at dominating the news agenda and showing that it is still in business.

The reporting of the events in Brussels is in keeping with that after the January (Charlie Hebdo) and November Paris attacks and the Tunisian beach killings by Isis last year. For several days there is blanket coverage by the media as it allocates time and space far beyond what is needed to relate developments. But then the focus shifts abruptly elsewhere and Isis becomes yesterday’s story, treated as if the movement has ceased to exist or at least lost its capacity to affect our lives.

It is not as if Isis has stopped killing people in large numbers since the slaughter in Paris on 13 November; it is, rather, that it is not doing so in Europe. I was in Baghdad on 28 February when two Isissuicide bombers on motorcycles blew themselves up in an outdoor mobile phone market in Sadr City, killing 73 people and injuring more than 100. On the same day, dozens of Isis fighters riding in pick-ups with heavy machine guns mounted in the back attacked army and police outposts in Abu Ghraib, site of the notorious prison on the western outskirts of Baghdad. There was an initial assault by at least four suicide bombers, one driving a vehicle packed with explosives into a barracks, and fighting went on for hours around a burning grain silo.

…click on the above link to read the rest of the article…

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