IRAN - Contradictory reports of an explosion at Iran’s uranium enrichment site have been emerging. Iran denies it ever happened, calling it “Western propaganda” while Israel confirms it, putting tensions around upcoming nuclear talks.
FRANCE - France's labour minister sent the country into a state of shock on Monday after he described the nation as “totally bankrupt”. Michel Sapin made the gaffe in a radio interview, which left French President Francois Hollande battling to undo the potential reputational damage. “There is a state but it is a totally bankrupt state,” Mr Sapin said. “That is why we had to put a deficit reduction plan in place, and nothing should make us turn away from that objective.” The comments come as President Hollande attempts to improve the image of the French economy after pledging to reduce the country’s deficit by cutting spending by €60 billion (£51.5 billion) over the next five years and increasing taxes by €20 billion.
USA - A recent appointment of Rothschild as “financial advisor” by the Board of Directors of gold exploration company Spanish Mountain Gold is yet another unmistakable indication that the ancient family is moving the world’s gold supply to both “emerging markets” and Central Banks worldwide, strengthening the family’s monopoly position when the fiat-based house of cards comes crashing down in the West.
ISRAEL - Israeli PM Benjamin Netanyahu says his nation must prepare for the threat of a chemical attack from Syria, amid concern at enemy efforts to test a post-election coalition Israel, and, as Bloomberg reports, has deployed its new Iron Dome anti-missile system near the border with its northern neighbor. Along with this concern, as many have perhaps suspected, the Israeli Defense Minister confirmed yesterday that the US has prepared plans for a 'surgical' military operation to delay Iran's nuclear program.
UK - Grant Shapps has indicated that Britain may leave the European Union if David Cameron’s strategy to renegotiate the terms of the country’s membership fails. Grant Shapps, the Conservative Party chairman, said “we will be in a different position” over Britain’s EU membership “if we can’t get any powers back”. Yesterday, when asked whether the Government would back Britain leaving the EU if renegotiation failed, Mr Shapps said: “I think that most people in this country agree that Europe isn’t what we originally signed up for. It has changed dramatically and so let’s see if we can get some of those powers back.”
FRANCE/NIGER - Barely two weeks after invading Mali with over 2,000 troops of the Foreign Legion, France has dispatched special forces troops to neighboring Niger to secure uranium mines run by the French state-owned nuclear power company Areva.
USA - The US Government took some enormous steps and continues to take enormous steps to right the economy. In his 2013 outlook, KKR's Henry McVey points to the $7.66 trillion worth of stimulus as a reason to be bullish on real assets like real estate and commodities.
From McVey: “In the US alone, monetary and fiscal stimulus as a percentage of GDP has breached the 40% threshold, nearly 5 times what was put into the system after the great depression. Moreover, the latest round of quantitative easing is tied to unemployment, which we do not see changing quickly, given that new business formation is still running 35% below the historical average.”
USA - Many government officials around the world are concerned that massive monetary easing in numerous nations is sparking a global currency war. Governments from Germany, to Russia, to Brazil, to Thailand have expressed worry that the world is plunging into a currency war, Bloomberg Businessweek reports. The current focus is on Japan, where the central bank this week announced it would increase its quantitative easing and also set a target of 2 percent for inflation. Governments frequently pursue a weaker currency in times of economic stress to boost exports. But one country’s devaluation often begets another, raising fears of a currency war.
USA - Brominated vegetable oil, a synthetic chemical that has been patented in Europe as a flame retardant, will no longer double as an ingredient in Gatorade sports drinks. Molly Carter, a spokeswoman for Gatorade owner PepsiCo Inc, said the company has been considering the move for more than a year, working on a way to take out the ingredient without affecting the flavor of the drink. A recent petition on Change.org to drop the chemical – which has more than 200,000 supporters – did not inspire the decision, Carter said, though she acknowledged that consumer feedback was the main impetus.
VATICAN CITY - Pope Benedict XVI presided over an ecumenical service of Vespers at the Basilica of St Peter Outside the Walls in Rome on Friday. The celebration marked the conclusion of the XLVI Week of Prayer for Christian Unity, which focused on the theme "What Does the Lord Require From Us." The occasion also marked the Solemnity of the Conversion of St Paul.
CAIRO, EGYPT/BERLIN, GERMANY - Mass protests with numerous casualties are casting a shadow over Egyptian President Muhammad Mursi's visit to Berlin, which begins tomorrow. Already last week, while preparations for the upcoming talks were being made in the German capital, hundreds of thousands took to the streets in Egypt, against Mursi's Islamist government.
AUSTRALIA - Australia is battling flooding in two states, as rescue teams worked to evacuate people from inundated areas. In Queensland, more than 1,000 people were plucked to safety in the city of Bundaberg as the Burnett River burst its banks, flooding 2,000 homes. In New South Wales there are concerns that the Clarence River, at a record high, could flood the city of Grafton. "We are in a dangerous situation that requires a timely response and I think the best thing to do is to evacuate," said Mayor Richie Williamson.
RUSSIA - A sobering “Critical Alert” issued by the Ministry of Foreign Affairs (MFA) this afternoon is warning all Russian diplomatic personnel and civilian workers currently residing in the United States that an “imminent terror attack” should be expected to occur during the next fortnight, up to and including 12 February.
USA - After spending last week mocking Alex Jones for believing in crazy conspiracies, last night Glenn Beck put forth his own theory about how President Obama is seeking to foment civil war in America, the catalyst of which will be an executive order he issues gutting the Second Amendment.
USA - In the three weeks since the Sandy Hook school shooting, Americans have been browbeaten by a plethora of foreigners in the media keen to lecture them on how their constitutional right to keep and bear arms should be eviscerated.