Yet even as he spoke these words, José Manuel Barroso, the President of European Commission, was asked by the Telegraph in Brussels about the possibility of renegotiation of competences at EU level. Barroso’s response was a straightforward snub to Mr Cameron and a wholesale rejection of the very idea. Any fundamental discussion about the renationalisation of EU competence “was doomed to failure”, Barroso said. "What is difficult, or even impossible, is if we go for the exercise of repatriation of competences because that means revising the treaties and revision means unanimity. From my experience of 10 years, I don't believe it will work."

I admire Mr Barroso’s frank honesty. Yet again, we see European politicians telling the truth about the realities of the EU while the Prime Minister tries to mislead. Which part of "No" does Mr Cameron not understand?

The Prime Minister thinks he is on an EU ship heading west, but in fact he is strolling westwards on board a ship that is heading east to "ever closer union". And it is Mr Barroso who is the captain, while Mr Cameron remains a muttering deckhand.

US officials had been due in Brussels next week to discuss the deal aimed at boosting bilateral ties. US President Barack Obama earlier cancelled his trip to Asia because of the shutdown. The US government closed non-essential operations on Tuesday after Congress failed to agree a new budget. Since then hundreds of thousands of government employees have not been working or paid.

The clip features House Minority Whip Steny Hoyer of Maryland expressing gratitude to the police. His words are followed by over a minute of applause from Representatives. Representative Eric Cantor then remarks that lawmakers “really appreciate” the DC cops for their actions.

Essentially, lawmakers were expressing gratitude for the cops protecting them from the deadly threat posed by 34-year-old Connecticut resident Miriam Carey, a dental hygienist who the media is now trying to demonize as mentally unstable yet whose boss Dr Brian Evans said was a “happy” and “stable” individual. Friends described her as “friendly and dedicated.” Her former boss Dr Steven Oken said she was “always happy,” while neighbors said Carey was “a nice young lady, stable.”

As the mainstream media portrayed the incident as some kind of dramatic gun battle and car chase involving a deadly terrorist who had attempted to attack the White House, the truth began to emerge. Carey’s worst crime appears to have been driving erratically and freaking out at a checkpoint when police aimed guns at her head.

Contrary to initial media reports that Carey had somehow tried to breach sensitive White House property, the checkpoint was a temporary “outer perimeter” fence, making it quite possible that Carey was confused and frightened as to why she was being stopped in the first place. The temporary checkpoint may have been part of a drill that was running simultaneously. Perhaps cognizant of the fact that cops routinely shoot unarmed innocent people for no reason whatsoever, Carey panicked and tried to escape.

Scientists tell us that it is inevitable that it will erupt again one day, and when it does the devastation will be almost unimaginable. A full-blown eruption of the Yellowstone super-volcano would dump a 10-foot-deep layer of volcanic ash up to 1,000 miles away, and it would render much of the United States uninhabitable. When most Americans think of Yellowstone, they tend to conjure up images of Yogi Bear and “Old Faithful”, but the truth is that sleeping underneath Yellowstone is a volcanic beast that could destroy our nation in a single day and now that beast is starting to wake up.

The Yellowstone super-volcano is so vast that it is hard to put it into words. According to the Daily Mail, the magma “hotspot” underneath Yellowstone is approximately 300 miles wide… The Yellowstone Caldera is one of nature’s most awesome creations and sits atop North America’s largest volcanic field. Its name means ‘cooking pot’ or ‘cauldron’ and it is formed when land collapses following a volcanic explosion.

And now the area around Yellowstone is becoming increasingly seismically active. In fact, Professor Bob Smith says that he has never seen anything like this in the 53 years that he has been watching Yellowstone… Until recently, Bob Smith had never witnessed two simultaneous earthquake swarms in his 53 years of monitoring seismic activity in and around the Yellowstone Caldera. Now, Smith, a University of Utah geophysics professor, has seen three swarms at once.

So what is the worst case scenario?

Well, according to the Daily Mail, a full-blown eruption of Yellowstone could leave two-thirds of the United States completely uninhabitable… It would explode with a force a thousand times more powerful than the Mount St Helens eruption in 1980. Spewing lava far into the sky, a cloud of plant-killing ash would fan out and dump a layer 10ft deep up to 1,000 miles away. Two-thirds of the US could become uninhabitable as toxic air sweeps through it, grounding thousands of flights and forcing millions to leave their homes.

Can you think of another potential disaster that could accomplish the same thing?

Major new policies required by the 2010 Dodd-Frank law are just being put into place, and the agency is also trying to vote on pending rules before CFTC Chairman Gary Gensler departs at the end of the year. Right now, time and resources are precious for the country’s derivatives regulator, and the shutdown is depriving it of both.

“It’s coming at a time when the market really needs guidance and the agency at its most responsive, and instead, it’s potentially going to be at its least responsive,” said WilmerHale partner and former CFTC general counsel Dan Berkovitz.

Dodd-Frank greatly increased the CFTC’s responsibilities for overseeing derivatives markets, which played a major role in the 2008 financial crisis. Chief among the agency’s remaining tasks is forcing more derivatives transactions to be done on exchange-like trading platforms rather than through the private deals that prevented both regulators and markets from having much information about what was going on in this part of the economy. October was set to be a busy month at the CFTC.

Reid wrote: “I hated the Iraq war. I think I hated it as much as you hate the Affordable Care Act. I could have taken the steps that you are taking now to block government funding in order to gain leverage to end the war… But I did not do that.”

Michael Steel, spokesman for Boehner said : “The entire government is shut down right now because Washington Democrats refuse to even talk about fairness for all Americans under ObamaCare. Offering to negotiate only after Democrats get everything they want is not much of an offer.”

House Representative Michael Grimm said : “There is a strong possibility, if (Democrats) were willing to at least sit down and listen to us, that we could put a package together to solve all of these problems at once so we can get the government funded, stop this shutdown and also deal with the debt ceiling so that we don’t have another crisis a week or two away from now.”

In 1971 the US ‘closed the gold window’ starting an era of global fiat money reference pricing that has been unprecedented in history. Never has the world operated on the basis of no country having a currency tied to something with intrinsic value like Gold.

The ‘petro-dollar’ - a US dollar exchange rate based on the deal struck between Saudi Arabia and America - for the US to buy their oil and for the Saudis to buy US dollars and bonds in return - started a period of oil companies (with the military machinery in their pocket) bullying the world into buying US dollars or getting cut off from oil and dollar supplies led to our current political situation with the US now involved in multiple wars in various oil dependent economies and their satellites - and this lulled many into believing that Gold no longer played a role, but recent events prove these assumptions wrong.

I commented a few weeks ago that to understand the Fed you have to understand that it, along with JP Morgan and other TBTF banks, are one giant hedge fund. And this is a huge negative for supporters of free markets who believe prices should be determined by the market - not the Fed. Surprisingly, a few days later Warren Buffett made the same observation. He said the ‘Fed is the most successful hedge fund in history.’ For Warren this is true. He is on the receiving end of the biggest transfer of wealth in history from workers and savers to borrowers and speculators.

In effect, if you know what to look for, the world is on a gold standard now. The price of gold is telling you that the Fed Ponzi is running at full tilt and that the ravages of having such a destructive mechanism at the heart of the economy are unraveling. Because even with all that effort, the trend of the price of Gold is still higher and at some point the ability to keep it down will fail and then; as Warren Buffett also said; ‘You can see who’s not wearing a bathing suit when the tide goes out.’

A default could cause the nation's credit markets to freeze, the value of the dollar to plummet and US interest rates to skyrocket, according to the Treasury report released Thursday.

Treasury officials hope by laying out potential consequences they will be able to bring pressure on Congress to act. Treasury Secretary Jacob Lew has said he will have used up the extraordinary measures to avoid breaching the debt ceiling by October 17. After that, the government will have to have around $30 billion of cash on hand.

In the event of a default, the US economy could be plunged into a recession worse than any seen since the Great Depression, it said. "The US dollar and Treasury securities are at the center of the international finance system. In the catastrophic event that a debt limit impasse were to lead to a default on Treasury securities, financial markets could be shaken to their core as was seen in late 2008, which resulted in a recession worse than any seen since the Great Depression."

Karen will continue to move along a curved northward path over the central Gulf of Mexico through Friday. During Saturday, Karen will begin to turn toward the northeast. Landfall is expected along the upper Gulf Coast from southeast of New Orleans to west of Panama City, Florida late Saturday night into early Sunday morning.

There is a chance Karen becomes a hurricane prior to making landfall. Winds associated with Karen have reached 65 mph during its trek through the open Gulf waters. The threshold for a tropical system to become a hurricane is sustained winds of 74 mph.

Christine Lagarde’s remarks show the damage done to emerging markets by a recent round of “taper talk”, over the possibility of the US Federal Reserve slowing the pace of its asset purchases and their vulnerability to future changes in the pattern of global capital flows.

“The immediate priority is to ride out the turbulence as smoothly as possible,” said Ms Lagarde. “Currencies should be allowed to depreciate. Liquidity provision can help deal with dysfunctional market behaviour. Looser monetary policy can also help.”

But she warned that countries with inflationary pressures – such as Brazil, India, Indonesia and Russia – have less scope to use monetary policy and that high debt and deficits mean many developing countries have little space for fiscal stimulus either.

“Overall, the global outlook remains subdued,” said Ms Lagarde, in her traditional speech ahead of the annual World Bank and IMF meetings in Washington next week. “In many of the advanced economies, however, we are finally seeing signs of hope. Growth is looking up, financial stability is returning, and fiscal accounts are looking healthier.”

Especially since the start of the Global War on Terror in 2001, the military has been shifting its European center of gravity south from Germany, where the overwhelming majority of US forces in the region have been stationed since the end of World War II. In the process, the Pentagon has turned the Italian peninsula into a launching pad for future wars in Africa, the Middle East, and beyond.

At bases in Naples, Aviano, Sicily, Pisa, and Vicenza, among others, the military has spent more than $2 billion on construction alone since the end of the Cold War - and that figure doesn’t include billions more on classified construction projects and everyday operating and personnel costs. While the number of troops in Germany has fallen from 250,000 when the Soviet Union collapsed to about 50,000 today, the roughly 13,000 US troops (plus 16,000 family members) stationed in Italy match the numbers at the height of the Cold War. That, in turn, means that the percentage of US forces in Europe based in Italy has tripled since 1991 from around 5% to more than 15%.

About the only people who have been paying attention to this build-up are the Italians in local opposition movements like those in Vicenza who are concerned that their city will become a platform for future US wars. Most tourists think of Italy as the land of Renaissance art, Roman antiquities, and of course great pizza, pasta, and wine. Few think of it as a land of US bases. But Italy’s 59 Pentagon-identified “base sites” top that of any country except Germany (179), Japan (103), Afghanistan (100 and declining), and South Korea (89).

In a provocative intervention Jose Manuel Barroso rubbished Mr Cameron’s plan to renegotiate Britain’s relationship with Europe, saying it was ‘unreasonable’ to expect other member states to agree to fundamental changes.

The Prime Minister has staked his reputation on securing a new deal on Europe ahead of an in/out referendum in 2017. Speaking at the Conservative Party conference this week he insisted that other countries were willing to consider Britain’s requests, including his demand that the historic EU aim of ‘ever-closer union’ is scrapped.

He said: ‘We’ve won allies to get powers back from Europe. That is what we will do. And at the end of it - yes - we will give the British people their say in a referendum. That is our pledge. It will be your choice - in or out.’ But, in a series of interviews in Brussels, Mr Barroso said the EU would never agree to fundamental change.

The Presidium of the Polish Episcopal Conference issued a statement in relation to the ban saying that the practice of slaughter without the stunning of the animal, known in Hebrew as shekhita, is "an expression of religious faith and embodies religious freedom."

Ritual slaughter, including traditional Jewish kosher and Muslim halal practices, has been banned in Poland since January 1, after the country's Constitutional Court deemed it incompatible with animal-rights law. The Polish ban over-rides an exemption for religious groups to stun animals before slaughter.

The count by the Office for National Statistics shows that despite the promotion of same-sex marriage and full gay equality by David Cameron and the Coalition, there has been no increase in the past year in numbers of people who say they are gay.

Many will draw parallels with the epic shutdown of 1995 but there is a key difference: For all his many flaws, at least Bill Clinton was leading the USA. Nowadays Barack Obama may occupy the White House but he looks increasingly like a lame duck caretaker awaiting a professional President who will actually take charge.

Post shutdown 'blamestorming' is in full swing and Mr Obama is quick to attribute culpability to all around him. However, given that he ultimately decides what gets spent, is there not an element of hypocrisy in his attempts to avoid responsibility? Barak Obama has overseen a lavish spendthrift shift to the left under his Presidency yet feels it is beneath him to actually negotiate a bigger bar tab.

Congress have dug in their heels over health care changes which are highly questionable. Then again Obamacare needs a serious rethink. That’s not my view: it’s the opinion of the US trades unions who form Obama’s base support. They have realised that heaping costs on employers will result in fewer full-time jobs. That hurts the average citizen but Obama’s aloof plutocrats don’t care. Equally Congressional Republicans are understandably furious that the President seeks to ignore their democratic mandates while being keen to schmooze with an Iranian President elected via a dubious democratic process. Obama behaves with the demeanour of one who has a massive mandate, yet strip away the hype and he was a relatively narrow victor against two frankly mediocre opponents.

On the broader economic front, a crunch looms around October 20th. Then it will be time to return to Congress cap in hand and request not just the cash for another round of drinks but actually a full extension to Mr Obama’s burgeoning bar tab. The debt ceiling will soon be breached once again. The President fails to grasp the fundamental tenet of his expansionist government tendency: Nobody can keep spending citizens’ money indiscriminately and not expect to pay for it along the way.