EUROPE - It is often said in European circles that the other big European countries will go a long way to keep Britain in the union. The European Union without Britain, after all, would be a very different thing: more protectionist, less free market.
USA - Back on January 26, a 58-year-old former senior executive at German investment bank behemoth Deutsche Bank, William Broeksmit, was found dead after hanging himself at his London home, and with that, set off an unprecedented series of banker suicides throughout the year which included former Fed officials and numerous JPMorgan traders.
ISRAEL/USA - The Obama administration refused to allow Israel's Defense Minister to meet top officials during his visit to the United States. This week's refusals come amid increasingly strained US-Israeli relations, particularly over criticism of Kerry by several members of the Israeli cabinet, including Ya'alon, according to AP.
ISRAEL - After Ynet learns White House officials prevented defense minister from meeting Kerry and Biden, Lapid says 'We need to act with more respect. We must remember that US funds and technology helped Gaza operation.'
ISRAEL - Science and Technology Minister Yaakov Perry (Yesh Atid), formerly the head of the Israel Security Agency (Shin Bet), warned on Thursday that the situation in Jerusalem is a “ticking time bomb” which will lead to a full-fledged third intifada. "We are witnessing a very serious escalation in Jerusalem," Perry told Army Radio, a day after a terrorist attack in the capital and as riots by Arabs continue. "This escalation is on the verge of becoming an intifada.” So far, the constant riots by Arabs in and around the capital, which have included rock and firebomb attacks, have been called the “silent intifada”. Perry said, however, that the escalation has reached such proportions that it is on the cusp of becoming a popular uprising.
JERUSALEM, ISRAEL - The sign hanging outside the Silwan home of Abdelrahman al-Shaludi, the terrorist who carried out Wednesday’s attack in Jerusalem, placed there after his first release from an Israeli prison in 2013, says a lot about the reality in the eastern part of the city.
CHINA - China and India are backing a 21 country $100 billion Asian Infrastructure Investment Bank (AIIB) as a challenge to the World Bank and Asian Development Bank. Memoranda of understanding were signed with 21 Asian countries in Beijing Friday. Australia, Indonesia and South Korea were absent following hidden pressure from Washington. The development bank was proposed a year ago by Chinese President Xi Jinping, and is to offer financing for infrastructure projects in underdeveloped Asian countries. Headquartered in Beijing, former chairman of the China International Capital Corp investment bank Jim Liqun, is expected to take a leading role.
UK - Six years after the Lehman disaster, the industrialized world is suffering from Japan Syndrome. Growth is minimal, another crash may be brewing and the gulf between rich and poor continues to widen. Can the global economy reinvent itself?
ISRAEL - Growing interest in the Temple Mount and Holy Temple is transforming into Holy Temple fever as the Sukkot holiday witnesses hundreds of Jews ascending the Temple Mount in spite of severe restrictions and an unprecedented, first time in 2000 years re-enactment of the traditional Sukkot Water Libation ceremony which was last celebrated in the Holy Temple.
ISRAEL - For many in Israel, it has been obvious for decades that Arabs do not seek peace with Israel. The Hamas Charter, the PLO Charter, Palestinian Authority (PA) TV, Muslim political and religious leaders all make it clear that the Arab has no interest in any kind of peace with Jewish Israel. The world doesn’t care about Arab Jew-hate. The world only cares that those damn Jews hate peace, right?
USA - The Pentagon has admitted that a chunk of its cache of weapons meant for Kurdish forces battling Islamic State militants in Kobani has fallen into terrorist hands. On Wednesday, the US defense body went against earlier government claims that American weapons always reach its intended destinations and had to concede that two bundles out of a total of 28 intended for the Kurds have indeed ended up with the terrorists. The fight against IS terrorists has so far cost Washington approximately $424 million since the start of the operation on August 8, according to the Pentagon spokesman, Rear Admiral John Kirby. He averaged the defense body’s spending to be around $7.6 million a day.
USA - In one of the towns hardest hit by California's drought, the only way some residents can get water to flush the toilet is to drive to the fire station, hand-pump water into barrels and take it back home. The trip has become a regular ritual for East Porterville residents Macario Beltran, 41, and his daughters, who on a recent evening pumped the water into containers in the bed of his old pickup truck to be used for bathing, dish washing and flushing. As if to emphasize the arid conditions that led them there, an emergency broadcast warned of a brewing dust storm. The state's three-year drought comes into sharp focus in Tulare County, the dairy and citrus heart of the state’s vast agricultural belt, where more than 500 wells have dried up. Larger farms have spent up to $1 million to drill 2,000 feet into the Central Valley’s ancient aquifer, Lockman said.
USA - Now US Bankers Fear Financial, Social, or Political ‘Instability’. Something is changing about the perception of the Fed’s free-money policies. While we’ve lambasted them for their nefarious effects on the real economy and the inequality they produce, Wall Street, the prime beneficiary, has been bombastically gung-ho about them. And the mainstream media have praised the Fed’s “bold action,” as it’s called, at every twist and turn.
RUSSIA - The ruble and other currencies do not compete against the dollar. They are dollar derivatives. The dollar is headed to ruin, but that doesn’t mean that any other paper currency can replace it. The others will fail first. The dollar will fail last. There hasn’t been a real recovery from the crisis of 2008, and there won’t be until we return to the use of gold as money.
IRAQ - The Islamic State has become the world's wealthiest terror group, generating tens of millions of dollars a month from black market oil sales, ransoms and extortion, officials said Thursday. It earns $1 million a day alone by selling crude oil from fields captured when the group swept across Iraq and Syria earlier this year, said David Cohen, Treasury undersecretary for terrorism and financial intelligence. Because the group, also known as ISIL, has "amassed wealth at an unprecedented pace" from different sources than most terror groups, it presents a particular challenge to the US and its allies working to choke off money flows.