Meanwhile, in Europe…THEY ARE ALL IN BANKRUPCY !

[EDITOR'S NOTE: IMF has just given its forecasts for the year 2014. The economic situation of the Industrialized countries can be summed up in four words: They are in BANKRUPCY.

1- Japan : public debt of 242,3 % of GDP
2- Greece : public debt of 174 % of GDP
3- Italy : public debt of 133,1 % of GDP
4- Portugal : public debt of 125,3 % of GDP
5- Ireland : public debt of 121 % of GDP
6- United States : 107,3 % of GDP
7- Spain : 99,1 % of GDP
8- United Kingdom : 95,3 % of GDP
9- France : 94,8 % of GDP
IMF doesn't mention Belgium. In March 2013, the public debt of Belgium was
of 104,5 % of GDP.
IMF Source:
http://www.imf.org/external/pubs/ft/fm/2013/02/pdf/fm1302.pdf]

By Sprout Money via Zerohedge

For years, since the onset of the euro crisis, we have heard that the crisis is over. Every year, politicians keep on telling us that the worst is over, but that next year will be so much better. Do you really think so? Here are some hard facts & figures instead of wishful thinking of lying politicians showing that the euro crisis is not over. On the contrary, things are getting worse.

Italy

La Dolce Vita, the good life, is no longer achievable for millions of Italians. Italy is the third largest Eurozone country and is in dire straits. Public debt has ballooned to well over 130 percent! Is this money ever going to be repaid? Who is going to do that? The country has one of the fastest aging populations in the world. Italian women, when having any children at all, prefer to have just one child. In order for a society to maintain a healthy demographic balance, they should have at least two. Nonetheless, unemployment, from a European perspective, is relatively low at 12 percent. But wait, youth unemployment is virtually at 40 percent. So there are no jobs in Italy, public debt is out of control and its aging population lays a heavy burden on both income taxes and Social Security payments.

Spain

Spain is one of the Eurozone’s largest countries. It is not in a recession, but in a downright depression. Do you need some figures? Unemployment stands at 26.3 percent?. That means more than one out of every four workers is idling and receiving benefits from government and waiting for better days. Even worse, youth unemployment is a staggering 57 percent. Indeed, more than one out of every two youngsters is out of work or is not expected to find one soon. Do you need more proof? Spanish government is spending billions on Social Security, money it simply does not have. Public debt has gone from a fairly modest 30 percent in 2007 to well over 90 percent this year and will soon move to 100 percent and beyond.

Portugal

Portugal is one of the smaller Eurozone countries in the Mediterranean Sea with an economy that is in shambles. The country had to be bailed out by the rest of the Eurozone to the tune of €78 billion. Public debt is around 128 percent, hardly lower than Italy’s. Unemployment hovers around 16.5 percent, which is unsustainable in the medium term. Youth unemployment stands at a depressing h 42 percent.

Although it seems that Portugal has lived up to its promises as part of the bail-out programme, the country will need a second bail-out coming 2014. Of course, it will be paid by other Eurozone members having a healthier economy.

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Europe in Shambles

Politicians babble about the worst of the crisis being behind us, or even ‘fixed.’ That is just cheap talk. The hard facts & figures prove them wrong. Europe is on the verge of a genuine collapse. On the one hand, this is because the Euro simply does not work, but makes things worse instead. On the other hand, Eurozone member states are simply unable to devaluate their currencies as they are part of the single currency bloc. As long as this flawed monetary currency, or rather political currency, is kept afloat, less well-off countries within the Eurozone will continue to suffer.

The ECB, the European equivalent of the Fed, will do ‘whatever it takes’ to keep the single currency alive. For now, markets have accepted this, but in the near term they will call their bluff. When, not if, that happens, the euro will be gone and with it billions worth of paper assets, wreaking havoc on an already damaged economy.

Does the graph below suggest the crisis has been solved?

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Courtesy: Zerohedge… of course

Europe has run OUT OF MONEY

The Eurozone has close to 20 million unemployed. These are millions of people requiring need food, housing and medical care. This is simply unaffordable in the medium term. Youth unemployment is a ticking time bomb. It will not take long before young people will take to the streets, demanding jobs and a comfortable future.

Has the crisis been solved? Will the Eurozone recover any time soon? We would not bet on it. Europe is an ageing, moribund continent and the sh*t will hit the fan sooner rather than later. Europe has simply run out of money due to its overgenerous entitlements. What will it take for people to start noticing?

Selon Mediobanca, l’Italie pourrait avoir besoin de sauvetage de l’UE dans les six mois

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Par Charles SANNAT, Prêchi Prêcha

C’est comme d’habitude un excellent article écrit par l’un des meilleurs fouineurs actuels, toujours mon bien respecté Ambrose Evans-Pritchard du Telegraph de Londres.

Pour lui qui relate une étude confidentielle de la banque italienne Mediobanca, l’Italie est susceptible d’avoir besoin d’un sauvetage de l’UE dans les six mois puisque le pays est en profonde crise économique et fait face à un « crédit crunch » (contraction de l’accès au crédit en français) également pour les grandes entreprises dont plus de 160 sont désormais passées en mode « administration spéciale de crise ».

Comprenez par administration spéciale de crise que les entreprises (les grandes) réduisent la voilure vitesse grand V, licencient, ne paient plus fournisseurs, renégocient tous leurs contrats, et coupent toutes les dépenses non-indispensables… Évidemment, cela n’aide pas vraiment à relancer la crôassance, si vous voyez ce que je veux dire.

Inutile de vous préciser – mais je le fais quand même, c’est comme la formule « cela va sans dire », raison pour laquelle je suppose qu’il faut quand même le dire – que si l’Italie tombe, l’Europe tombe, ce qui pourrait pour certains s’apparenter finalement à une bonne nouvelle.

N’oubliez pas que les machins de secours européens fonctionnent toujours sur le principe où des pays surendettés empruntent de l’argent qu’ils n’ont pas, pour le donner à des pays complètement en faillite.

On y apprend également que la production industrielle de l’Italie a chuté de 25 % par rapport à son sommet de la dernière décennie, tandis que le revenu disponible a diminué de 9 % et les ventes de logements ont chuté aux niveaux de 1985 !

C’est donc à une véritable catastrophe économique à la grecque que fait face l’Italie. Pourtant, comme pour la France, l’Italie n’est pas la Grèce. Non, l’Italie est la troisième économie de la zone euro !

lire l’article du TELEGRAPH en VO

Que savait Mario Draghi de “l’arrangement” des comptes de l’Italie pour entrer dans la zone euro

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Prêchi Prêcha

L’Italie est exposée à une perte de 8 milliards € sur des dérivés, Mario Draghi impliqué. Maquillages, mensonges, détournements sont les mamelles de l’Union Européenne….. On coule, et nos élus bronzent sur la plage !

Des informations de presse indiquent que le Trésor italien, à l’époque dirigé par Mario Draghi, l’actuel président de la BCE, aurait contracté des produits financiers risqués dans les années 1990 pour faciliter l’entrée de l’Italie dans la zone euro. Le pays pourrait y perdre 8 milliards d’euros.

L’Italie a-t-elle précédé la Grèce dans le maquillage de ses comptes pour entrer dans la zone euro ? C’est ce que laisse entendre un rapport du Trésor italien que se sont procurés le Financial Times et la Repubblica. Selon ce rapport, l’Italie a restructuré au premier semestre 2012 huit contrats dérivés passés avec des banques étrangères pour un montant total notionnel de 31,7 milliards d’euros. Selon des experts interrogés par le FT, les pertes potentielles que le pays devrait assumer sur ces contrats seraient, au 20 juin, de 8,1 milliards d’euros. Mais le rapport ne donne aucun détail précis sur ces contrats.

Un montage désavantageux

Mais l’essentiel réside peut-être dans l’origine de ces contrats restructurés en 2012. Le Trésor italien aurait alors utilisé ces instruments pour obtenir des paiements immédiats des banques afin de faire entrer le déficit italien dans les clous des critères de Maastricht et permettre l’adhésion du pays à la zone euro dès 1999.

Selon la Repubblica, ces instruments seraient des « swap off market » qui prévoient un paiement en cash des banques au Trésor moyennant le versement d’un taux variable basé sur les taux du marché.

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Bilderberg Group Quietly Meets in Italy

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By Brandon Turbeville, Activist Post for TheIntelHub

While the attention of most Americans was focused on whatever trivia dished out from the mainstream media such as the current hot celebrity or the David Petraeus incident, it appears that the Bilderberg Group has arranged what some have described as an impromptu meeting in Rome, Italy.

Yet, although much of the European press is dark on the issue, which is unfortunately characteristic of the mainstream media in any nation, some Italian newspapers are reporting the information regarding the meeting.

According to 21stCenturyWire, the agenda apparently centered around the fate of EU countries such as Italy, Spain, and Greece, three nations that have been hit hard with the worldwide derivatives crisis and the subsequent imposition of austerity.

Various newspapers from all across Italy are reporting that around 80 members of the Bilderberg Group, particularly the Bilderberg Steering Committee, have been called to Rome for a semi-secret meeting to discuss the unfolding events of the engineered crisis.

In contradiction to the traditional methods of secrecy used by the Bilderberg Group such as renting entire hotels for days on end and dispensing with the guests and even some of the workers during the conference, this Italian Bilderberg meeting is taking place at the same time as another popular event, the Rome Film Festival.

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An Assassination of International Proportions 27 June 1980 and A Cover-Up by NATO : civilian jet with 81 civilians shot by French Mirage instead of Qaddafi Plane over Sicily

Aerolinee Itavia Flight 870 DC-9

Photograph of I-TIGI, the DC-9 downed off the coast of Ustica on June 27, 1980. Photo taken in Basilea in November 1972. Photo Credit: Werner Fischdick

By Thomas Van Hare at FlyHistoricWings

(Thanks to Christella Bernardene Krebs for sharing the article)

Aftermath and Cover Up of the Shootdown Qaddafi had escaped clean and clear from the aerial assassination attempt. He would live on, the penultimate survivor, until Libya’s “Arab Spring” of 2011. France would never speak publicly about the events of that night. Italy too would choose a policy of silence [...]

The Dark Story of Itavia Flight 870

On the night of June 27, 1980, Aerolinee Itavia Flight 870 (a DC-9 registered as I-TIGI) departed Bologna, Italy, en route to Palermo, Sicily. On board were 77 passengers, two pilots and two flight attendants. Of those, 64 were adult passengers, 11 were children aged between two and twelve years old and two were children under the age of 24 months.

As usual, Itavia Flight 870 proceeded uneventfully on its regular route southward off the coast of Italy. Then, at 8:59 pm, the aircraft suddenly disappeared off the radar screens of Italian Air Traffic Control. No report of trouble or declaration of an emergency was received from the pilots — one second the plane was there and the next, it was gone. All 81 souls on board died as pieces of the aircraft fell into the sea.

At first, it seemed that the circumstances of the loss didn’t make sense — the aircraft had been flying along perfectly and then, quite inexplicably, it had exploded in midair with the loss of everyone on board. In response to questions from the media, government officials offered that Flight 870 might have been downed by a terrorist bomb. Initially, that explanation made some sense, but then no terrorist organization stepped forward to make a claim of responsibility.

Unsatisfied, the media returned to ask more questions — and as if by some order from above, officials suddenly went silent. No additional information was forthcoming. This in turn fed media suspicions that the real story was being kept from public view. Sadly, they were right. Everywhere they turned, doors were suddenly closed. It seemed as if nobody was willing to talk about what had happened.

Even more ominously, it was soon discovered that tapes of radar plots had disappeared or had been somehow erased. Other records were also missing or suddenly unavailable. Even more chilling, key witnesses began dying in strange circumstances — car accidents, suicides, and even a heart attack. What followed was the beginning of a decades long cover up, one that would go to the highest levels of no less than three governments. It is a cover up that is still in force even today. The events played out like a bad Hollywood movie, except that it was altogether real.

Out of the Darkness, into the Light

The story of Itavia Flight 870 is a dark tale of missteps, errors, and cover ups that involved no less than three governments on one side and a hostile government on the other — Muammar Qaddafi’s Libyan dictatorship. The details of what happened that night still remain largely a mystery, but key pieces of evidence have recently emerged that shine light onto a long held secret. With the fall of the Qaddafi government in 2011, the archives of Libyan state secrets have been partly opened. There, amidst countless stories of terrorist plans, international ventures and terrible misdeeds are the reports detailing the night of June 27, 1980.

Setting the Stage for the Shootdown

In 1980, the international community was arrayed against an increasingly belligerent Libyan government under the leadership of the dictator, Col. Muammar Qaddafi. In the United States, the Jimmy Carter Administration was in its final year and embroiled in an election race against an upstart actor and former governor of California named Ronald Reagan. In Europe, NATO was deeply engaged in the Cold War. The Soviet Union had just invaded Afghanistan — it seemed that the world was on the brink of conflict.

For those nations along the Mediterranean Sea, Libya was a growing problem. Qaddafi’s forces were increasingly involved in attempts to destabilize governments in the region, including many former French colonies in North Africa. From the perspective of the French Government, the time had come to eliminate the problem of Qaddafi.

An Assassination of International Proportions

If new documents uncovered in Libya are to be believed, the opportunity to assassinate Qaddafi presented itself on the night of June 27, 1980, when he was scheduled to fly home from Europe and across the Mediterranean in his personal Tupolev airliner. A pair of French Mirage jet fighters were readied for a very special mission — Qaddafi’s jet would be intercepted and shot down, leaving all parties involved with plausible deniability. If all went well, the wreckage would be lost at sea and the action would resolve the Libyan problem once and for all.

From the start, however, things didn’t quite go as planned. What should have been a simple interception turned into a confusing engagement with jet fighters involved from no less than four nations. The French, the Libyans, the Italians and the Americans would all converge toward a single point over the sea off the coast of Italy — and flying into the melee would come Itavia Flight 870, completely unaware of the unfolding drama ahead.

Unbeknownst to the French, however, their assassination attempt was doomed from the start. According to the newly uncovered Libyan documents, Qaddafi was tipped off at the last moment about the plot by someone from within the SISMI, Italy’s secret service. Thus, Qaddafi made a snap decision and diverted his plane to land on the island of Malta. Notably, the SISMI maintained a degree of influence through high level contacts within Libya. Italy continued its close ties with Qaddafi for years — in 1986, Italian politician Bettino Craxi would phone Qaddafi to warn him of the incoming USAF F-111 raid — once again with the help of the Italians, Qaddafi would survive by fleeing his compound minutes before the bombs hit.

On that night in 1980, a Libyan Air Force MiG-23 fighter jet was already flying north to meet and escort the Qaddafi plane home to Libya, when he diverted to land in Malta. Somehow, in the confusion of developing events, the MiG-23 pilot, Ezedin Koal, was neither notified nor ordered back to base. Instead, he flew north across the Mediterranean Sea, searching for Qaddafi’s Tupolev. On the NATO side of the equation, the Libyan MiG-23 was immediately picked up as “fast mover” on air defense radars. As per standard protocol, the Italian Air Force and US Navy dispatched fighters to intercept the plane as it neared Italian airspace.

Libyan Air Force (Russian made) MiG-23 Jet Fighter, the type that was engaged in a nighttime dogfight off the coast of Italy.

A Suddenly Confusing Engagement

Minutes later, the Libyan MiG-23 was already off the coast of Sicily. Concurrently, three Italian Air Force F-104S jet fighters and at least one US Navy A-7 Corsair II (probably this was a flight of two aircraft) closed in separately from the east. The two French Mirage aircraft raced in from the north with the dark intent to perform their deadly assassination mission. Yet now, no fewer than seven and possibly as many as nine NATO fighter planes were converging on a single point on the map in the night skies over the Mediterranean Sea — and, completely unknowing, into the midst of the developing melee flew Itavia Flight 870.

Apparently, the Libyan MiG-23 pilot was first to spot the civilian DC-9 airliner on his radar. The aircraft was heading southward as expected. For the Libyan pilot, it was right where it should have been. He turned his MiG-23 to join into close formation with the airliner, which he apparently mistook for Qaddafi’s Tupolev in the darkness of the night skies. For the French fighter pilots, this newly formed up pair of aircraft exactly matched their mission expectations — there was a large airliner sized target, clearly Qaddafi’s Tupolev, escorted by a single Libyan jet fighter that had joined up from the south. Together, the two targets were flying southward in the direction of Libya.

French JetFighter Mirage F1

No warning shots were fired — this was to be an assassination, pure and simple. One of the French pilots launched an air-to-air missile aimed at the larger target. The missile struck home, hitting the forward section of Itavia Flight 870 with a perfect hit. The airliner never stood a chance — it was literally blown out of the sky. As the French Mirage pilots watched the fireball appear and disappear in the distance, their radars showed the Libyan MiG-23 break off and circle out into a counterattack.

There was only one loose end to tie up — they would have to shoot it down as well….

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Operation GLADIO State-Sponsored Terrorism in Europe ViD

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Emblem of NATO’s “stay-behind” paramilitary organizations.

After World War II, the UK and the US decided to create “stay-behind” paramilitary organizations, with the official aim of countering a possible Soviet invasion through sabotage and guerrilla warfare behind enemy lines. Arms caches were hidden, escape routes prepared, and loyal members recruited: i.e., mainly hardline anticommunists, including many ex-Nazis or former fascists, whether in Italy or in other European countries. In Germany, for example, Gladio had as a central focus the Gehlen Org — also involved in ODESSA “ratlines” — named after Reinhard Gehlen who would become West Germany’s first head of intelligence, while the predominantly Italian P2 Masonic lodge was composed of many members of the neofascist Italian Social Movement (MSI), including Licio Gelli. Its clandestine “cells” were to stay behind (hence the name) in enemy controlled territory and to act as resistance movements, conducting sabotage, guerrilla warfare and assassinations.

CIA director Allen Dulles was one of the key people in instituting Operation Gladio, and most of Gladio’s operations were financed by the CIA.The anti-communist networks, which were present in all of Europe, including in neutral countries like Sweden and Switzerland, were partly funded by the CIA.

However, Italian Gladio was more far reaching. “A briefing minute of June 1, 1959, reveals Gladio was built around ‘internal subversion’. It was to play ‘a determining role… not only on the general policy level of warfare, but also in the politics of emergency’. In the 1970s, with communist electoral support growing and other leftists looking menacing, the establishment turned to the ‘Strategy of Tension’ … with Gladio eager to be involved.”
Create FalseFlag Attacks blamed on the Leftist organization who also were infiltrated. Create a Situation of Tension and Terror by random assassinations and bombs campaign so that the General Public will be eager to accept a more repressive State and State of Emergency in case of need. These were the main objectives of Gladio. This operation was enforced from 1948 until 1989.

We encourage everybody to watch this excellent 02h20 documentary shot by the BBC and aired in 1992 about OPERATION GLADIO. It gives a fresh perspective on the recent war on Terror initiated by the Western Governments following the New York-Washington 9/11 attacks, the London 07/07 and the Madrid 03/11 bombings.

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Emblem of “Gladio”, Italian branch of the NATO “stay-behind” paramilitary organizations. The motto means “In silence I preserve freedom”.

The great euro Putsch rolls on as two democracies fall

By Ambrose Evans-Pritchard

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Crowds gathered outside the Italian presidential palace after Silvio Berlusconi resigned on Saturday.
Photo: GETTY

Europe’s scorched-earth policies have begun in earnest. The inherent flaws of monetary union have created a crisis of such gravity that EU leaders now feel authorized to topple two elected governments.

As I long feared, the flood of cheap credit into Southern Europe and the slow death of Club Med industry by currency asphyxiation have together created such a dangerous situation for world finance that informed opinion is willing to turn a blind eye to EU sovereign trespass. Some even applaud.

The Greeks were ordered to drop their referendum on measures that reduce their country to a sort of Manchukuo, with EU commissars “on the ground”, installed in each ministry, drawing up lists of state assets to be liquidated to pay foreign creditors.

Europe had the monetary and fiscal means to contain the EMU debt crisis long enough for Greeks to give or withhold their crucial assent to this ultimatum in December.

It chose – under German-Dutch pressure – not deploy those means. Instead it forced Greece to capitulate by cutting off an agreed loan payment.

In Italy, the European Central Bank has engineered the downfall of Silvio Berlusconi by playing the bond markets, switching purchases on and off to enforce compliance with its written dictates (“La Lettera”), and ultimately allowing 10-year yields to spike to 7.45pc to drive him out.

Europe’s president Herman Van Rompuy swooped in to Rome to clinch the Putsch. “Italy needs reforms not elections,” he said.

We are not that far from use of EU judicial coercion, and then EU police power, and ultimately EU “border troops” – for those old enough to remember Soviet methods of fraternal assistance.

Chancellor Angela Merkel tells us that peace in Europe can no longer be taken for granted, and she is right. Her own Gothic actions and her inflexible imposition of 1930s Gold Standard contraction and debt-deflation on Southern Europe is itself preparing the ground for Europe’s civil war (hopefully pacific), a rebellion by the South against the North.

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Socializing losses: Trilateral takeover of Europe?

By Adrian Salbuchi for RT

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Anti-austerity protesters hold a Greek flag reading ‘not for sale’ during a student parade in Athens, attended by the Greek minister of education (AFP Photo / LOUISA GOULIAMAKI)

The sovereign debt crisis tightening its grip on Europe has claimed the scalps of two prime ministers – those of Greece and Italy. Looking at the men poised to replace them, one cannot but ask – is this another turn of the screw for ordinary people?

Greece and Italy hold huge swathes of public debt they are unable to service unless they get massive European Central Bank and International Monetary Fund support, as a prelude to refinancing by international banks.

Greece has replaced its prime minister after he dared to say he would put a further round of harsh austerity measures to a referendum vote. The country’s new PM is Lucas Papademos, former vice president of the ECB and of Greece’s own Central Bank, and a member of David Rockefeller’s (JPMorgan Chase/Exxon) powerful Trilateral Commission.

As for Italy, instead of Silvio Berlusconi they got the former European Commissioner Mario Monti, who happens to be European chairman of the Trilateral Commission.

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Smash and grab: Bilderberg & Trilateral Commission snatch Greece and Italy

By Richard Cottrell Contributing writer for End the Lie

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Mario Monti

[Editor's note: Mario Monti, who has been chosen to lead Italy after the resignation of Silvio Berlusconi, is a Hell of a Globalist, a Puppet of the New World Order: "Monti is the first chairman of Bruegel, a European think tank founded in 2005, and he is European Chairman of the Trilateral Commission, a think tank founded in 1973 by David Rockefeller. He is also a leading member of the Bilderberg Group.

Monti is an international adviser to Goldman Sachs and The Coca-Cola Company."]

Events in Greece and Italy are truly momentous. They represent a glorious triumph for the New World Order, which is now free to trample democracy wherever and whenever the mandarins who now rule over us feel like it.Two governments which are not sanctified by the increasingly redundant electoral process are taking charge in Rome and Athens. In both cases the new ‘caretakers’ are smart-suited quack doctors peddling snake oil brewed in the kitchens of the Trilateral Commission and the Bilderberg Group.

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