July 13th, 2014 By Michael Snyder
Most people have never heard of Jaime Caruana even though he is the head of an immensely powerful organization. He has been serving as the General Manager of the Bank for International Settlements since 2009, and he will continue in that role until 2017. The Bank for International Settlements is a rather boring name, and very few people realize that it is at the very core of our centrally-planned global financial system. So when Jaime Caruana speaks, people should listen. And the fact that he recently warned that the global financial system is currently “more fragile” in many ways than it was just prior to the collapse of Lehman Brothers should set off all sorts of alarm bells. Speaking of the financial markets, Caruana ominously declared that “it is hard to avoid the sense of a puzzling disconnect between the markets’ buoyancy and underlying economic developments globally” and he noted that “markets can stay irrational longer than you can stay solvent”. In other words, he is saying what I have been saying for so long. The behavior of the financial markets has become completely divorced from economic reality, and at some point there is going to be a massive correction.
So why would the head of ‘the central bank of the world’ choose this moment to issue such a chilling warning?
Does he know something that the rest of us do not?
According to a recent article in the Telegraph by Ambrose Evans-Pritchard, Caruana is extremely concerned about rising debt levels and the current level of euphoria in the financial markets…
The world economy is just as vulnerable to a financial crisis as it was in 2007, with the added danger that debt ratios are now far higher and emerging markets have been drawn into the fire as well, the Bank for International Settlements has warned.
Jaime Caruana, head of the Swiss-based financial watchdog, said investors were ignoring the risk of monetary tightening in their voracious hunt for yield.
“Markets seem to be considering only a very narrow spectrum of potential outcomes. They have become convinced that monetary conditions will remain easy for a very long time, and may be taking more assurance than central banks wish to give,” he told The Telegraph.
Mr Caruana said the international system is in many ways more fragile than it was in the build-up to the Lehman crisis. Debt ratios in the developed economies have risen by 20 percentage points to 275pc of GDP since then.
And you know what?
Caruana is certainly correct to be warning us about these things.
As I have written about previously, the total amount of government debt in the world has grown by about 40 percent since the last recession, and the “too big to fail banks” have collectively gotten 37 percent larger since that time.
The U.S. national debt has grown from about 10 trillion dollars to more than 17.5 trillion dollars, and even the Bank for International Settlements admits that the global derivatives bubble has grown to at least 710 trillion dollars.
The massive financial imbalances that we were facing during the last crisis have not been fixed. Instead, they have gotten much, much worse.
But should we trust the Bank for International Settlements?
Of course not.
This is a very secretive organization that very few people know about but that possesses absolutely enormous power. The following is a brief overview of the Bank for International Settlements from one of my previous articles entitled “Who Controls The Money? An Unelected, Unaccountable Central Bank Of The World Secretly Does“…
An immensely powerful international organization that most people have never even heard of secretly controls the money supply of the entire globe. It is called the Bank for International Settlements, and it is the central bank of central banks. It is located in Basel, Switzerland, but it also has branches in Hong Kong and Mexico City. It is essentially an unelected, unaccountable central bank of the world that has complete immunity from taxation and from national laws. Even Wikipedia admits that “it is not accountable to any single national government.” The Bank for International Settlements was used to launder money for the Nazis during World War II, but these days the main purpose of the BIS is to guide and direct the centrally-planned global financial system. Today, 58 global central banks belong to the BIS, and it has far more power over how the U.S. economy (or any other economy for that matter) will perform over the course of the next year than any politician does. Every two months, the central bankers of the world gather in Basel for another “Global Economy Meeting”. During those meetings, decisions are made which affect every man, woman and child on the planet, and yet none of us have any say in what goes on. The Bank for International Settlements is an organization that was founded by the global elite and it operates for the benefit of the global elite, and it is intended to be one of the key cornerstones of the emerging one world economic system.
The role that the Bank for International Settlements is playing today was envisioned by the global elite long ago. In another previous article, I quoted from a book that Georgetown University history professor Carroll Quigley wrote in 1975 entitled “Tragedy & Hope” in which he discussed how the BIS was to one day become “the apex” of the global financial system…
[T]he powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences. The apex of the system was to be the Bank for International Settlements in Basle, Switzerland, a private bank owned and controlled by the world’s central banks which were themselves private corporations.
And it is interesting to note that Professor Quigley was not against the system that the elite were setting up. He was just an academic that was trying to accurately convey what he had learned about how the global system works.
Sadly, the system that Quigley wrote about all the way back in 1975 has fully blossomed today.
Every two months, the central bankers of the world travel to Switzerland for “Global Economy Meetings” in Basel. Most people have never heard of them, but these Global Economy Meetings were actually discussed in the Wall Street Journal…
Every two months, more than a dozen bankers meet here on Sunday evenings to talk and dine on the 18th floor of a cylindrical building looking out on the Rhine.
The dinner discussions on money and economics are more than academic. At the table are the chiefs of the world’s biggest central banks, representing countries that annually produce more than $51 trillion of gross domestic product, three-quarters of the world’s economic output.
So how do you feel about the fact that the central bankers of the world regularly gather to plot their next moves for the global economy?
Should an unelected group of central bankers that has no accountability to any national government really have so much power?
A naming ceremony was held for the subsea vessel ‘Island Performer’ in Norway on Friday, June 27, 2014.
The Island Performer, owned by Island Offshore, is getting ready its her work for FTO in the Gulf of Mexico.
The vessel is equipped with a large intervention tower over the main moon pool, a 250-tonne AHC Offshore Crane and two deep-sea work ROVs.
With a length overall of 130m, and width of 25m, the vessel can accommodate 130 people.
The Island Performer is particularly developed to suit the scope in the FTO contract in which Riser-less Light Well Intervention and Inspection, Maintenance, Repair are main tasks.
06/19/2014 Submitted by Tyler Durden by Brandon Smith of Alt-Market.com,
The multitudes of people, especially Americans, who view U.S. government activity in a negative light often make the mistake of attributing all corruption to some covert battle for global oil fields. In fact, the average leftist seems to believe that everything the establishment does somehow revolves around oil. This is a very simplistic and naïve view.
Modern wars are rarely, if ever, fought over resources, despite what the mainstream gatekeepers might tell you. If a powerful nation wants oil, for instance, it lines the right pocketbooks, intimidates the right individuals, blackmails the right officials or swindles the right politicians. It has no need to go to war when politicians and nations are so easily bought. Modern wars, rather, are fought in order to affect psychological change within a particular country or population. Wars today are fought to cover up corrupt deals and create desperation. Oil is used as an all-encompassing excuse for war, but it is never the true cause of war.
In reality, oil demand has become static and is even falling in many parts of the world, while new oil and gas-producing fields are discovered on a yearly basis. Petroleum is not a rare resource — at least, not at the present. And the propaganda surrounding the “peak oil” Armageddon scenario is pure nonsense. Oil prices, unfortunately, do not rise and fall according to supply – instead they rise and fall according to market tensions and, most importantly, the value and perceived safety of the U.S. dollar. Supply and demand have little to do with commodity values in our age of fiat manipulation and false investor perception.
That said, certain political and regional events are currently in motion that could, in fact, change investor perception to the negative, and convince the world of a false fear of reduced supply. While supply is more than ample, the expectation of continued supply can be jilted, shocking commodities markets into running for the hills or rushing into mass speculation, generally resulting in a sharp spike in prices.
A very real danger within energy markets is the undeniable threat that the U.S. dollar may soon lose its petrodollar status and, thus, Americans may lose the advantage of relatively low gas prices they have come to expect. That is to say, the coming market crisis will have far more to do with the health of the dollar than the readiness of supply.
In the span of only a few years, as the derivatives crisis took hold and the fed began its relentless bailout regime, petroleum costs have doubled. It wasn’t that long ago that someone could fill his vehicle’s tank with a $20 bill. Those days are long gone, and they are not coming back. The expectation has always been that prices would recede as the overall economy began to heal. Of course, our economy will not be healed until it is allowed to crash, as it naturally should crash. And as it crashes, because of our currency’s unique place in history, the price of oil will continue to climb.
The petrodollar has always been seen as invincible — a common denominator, a mathematical constant. This is a delusion propagated by a lack of knowledge and common sense amongst establishment economists.
As I have covered in great detail in numerous articles, the U.S. dollar’s world reserve status is nearing extinction. Multiple major economies now trade bilaterally without the use of the dollar; and with foreign conflicts on the rise, this trend is going to become the norm.
In the past week alone, Putin adviser Sergey Glazyev recommended to the Kremlin that a coalition of nations be formed to end the dollar’s reserve status and initiate a form of economic warfare to stop “U.S. aggression”. Of course, anyone familiar with the escapades of international banking cartels knows that it is the money elite that dictate U.S. aggression, just as they dictate the policy initiatives of Russia. I would note that there is only ONE currency exchange structure that could be used at this time to shift global forex reserves away from the dollar system, and that is the IMF’s Special Drawing Rights.
The argument has always been that the IMF is a U.S. controlled institution, however, this is a faulty assumption. The IMF is a GLOBAL BANKER controlled institution, a front organization for the Bank of International Settlements, which is why the recent refusal by the U.S. Congress to vote on new capital allocations for the IMF has resulted in the world’s central bank threatening to remove U.S. veto power. Globalists have no loyalty to any single nation, and the reality is, the fall of the dollar actually benefits these financiers in the long term.
Russia’s historic oil and gas deal with China, just signed weeks ago, removes the dollar as the petroleum reserve currency.
Russia’s largest gas company, Gazprom, has all but excluded the dollar in all transactions with foreign nations. In fact, nine out of 10 of Gazprom’s foreign clients were more than happy to buy their products without using dollars. This fact cripples the arguments of dollar cheerleaders who have always claimed that even if Russia broke from the dollar, no one else would go along.
Gazprom and the Russian government have followed through with their threats to cut off gas pipelines to Ukraine, and now, some analysts fear this strategy may extend to the EU, in which many countries are still 30% dependent on Russian energy.
China is currently striking oil deals not only with Russia but also with Iran. New oil deals are being signed even after a $2 billion agreement fell through this spring. And, despite common misinformation, it was actually China that was reaping the greatest rewards through the reopening of Iraqi oil fields, not the U.S., all while U.S. military assets were essentially wasted in the region.
Now, any U.S. benefits are coming into question as Iraq disintegrates into chaos yet again. With the speed of the new Islamic State of Iraq and Syria (ISIS) insurgency growing, it is unclear whether America will have ANY access to Iraqi oil in the near future. If ISIS is successful in overrunning Iraq, it is unlikely that Iraqi oil will ever be traded for dollars again. Unrest in Iraq has already caused substantial market spikes in oil prices, and I can say with considerable confidence that this trend is going to continue through the rest of the year.
Interestingly, mainstream news sources suggest that Saudi Arabia has been a primary funding source for the ISIS movement. It is true that the Saudis have warned for years that they would fund and arm Sunni insurgents if America ever pulled out of the country. But, I would point out that the U.S. has also been covertly supporting such extremist groups in the Mideast for quite some time, and this is not discussed at all in the MSM storyline. The mainstream narrative is painting a picture of betrayal by the Saudis against the U.S. through subversive groups designed to break the foundations of nations opposed to its policy views. When, in fact, the destabilization of Iraq has been nurtured by money and weapons from both America and Saudi Arabia.
It was the CIA which trained ISIS insurgents secretly in Jordan in preparation for their subversive war in Syria. It was an agreement signed by George W. Bush and delegated under Obama’s watch that allowed ISIS leader, Abu Bakr al-Baghdadi, to be set free in 2009. Saudi Arabia has been openly arming the Sunni’s for years with the full knowledge of the U.S. government. So then, why is the narrative being created that America and Saudi Arabia are at odds over ISIS?
Such a development would place the U.S. squarely in conflict with the Saudi government, our only remaining toehold in the global oil market. Without Saudi Arabia’s patronage of the dollar, most OPEC nations will follow (including Kuwait), and the dollar WILL lose its petrodollar status. Period.
In the past few days, Saudi Arabia has demanded that the foreign interests refrain from any military intervention in Iraq. While Barack Obama has repositioned an aircraft carrier, armed troops, and special forces in the area.
Now, my regular readers understand that this was going to happen eventually anyway. The Federal Reserve’s quantitative easing bonanza has destroyed true dollar value and spread unknown trillions of dollars in fiat across the planet. The dollar’s death has been assured. It has been slated for execution. This is why half the world is positioning to dump the currency altogether. My regular readers also know that the destruction of the dollar is not an accident; it is part of a carefully engineered strategy leading to the centralization of all economic power under the umbrella of a new global currency basket system controlled by the International Monetary Fund.
I believe Saudi Arabia may be a near term trigger in the next great shift in petroleum markets away from the dollar. Renewed U.S. involvement in Iraq, diplomatic tensions over ISIS, and more lucrative offers from Eastern partners have been edging Saudi Arabia away from strict petrodollar ties. This shift is also not limited to Saudi Arabia.
“Abu Dhabi, the most influential member of the United Arab Emirates,” has suddenly ended its long-standing exclusive relationship with Western oil companies and has signed a historic deal with China’s state-owned China National Petroleum Corporation (CNPC).
Russia has formed the new Eurasian Economic Union with Belarus and Kazakhstan, two countries with freshly discovered oil fields.
On the surface, it appears as though the world is huddling itself around oil resources in an environment of East versus West conflict. However, these changes are not as much about petroleum as they are about the petrodollar. The reality is the dollar’s reserve-status days are numbered and this is all part of the plan.
What does this mean for us? It means much higher gas prices in the coming months and years. Is $4 to $5 per gallon gasoline a burden on your pocketbook? Try $10 to $11 per gallon, perhaps more. Do you think the economy is straining as it is under the weight of current gas prices? Imagine the earthquake within our freight-based system when the cost of trucking shipments triples. And guess who will end up paying for the increased costs? That’s right: you, the consumer. High energy prices affect everything, including shelf prices of retail goods. This is just the beginning of what I believe will be ever expanding inflation in oil prices, leading to the end of the dollar’s petroleum reserve status, then it’s world reserve status by default, and the introduction of a basket currency system that will ultimately benefit a select few global financiers while diminishing the quality of living for millions, if not billions, of people.
CIA Operation “Zero Footprint”, Qatar, Benghazi and The Connection To Ahmed Abu Khattala – The Real Motive For The Obama Administration’s Recent Arrest…June 18, 2014 by sundance
Yesterday, it was announced the Obama administration had moved on Sunday to arrest a Benghazi al-Qaeda leader Ahmed Abu Khattala. Many people, including Fox’s James Rosen pointed particular questions to the State Dept. about “why now”?
As unbelievable as this might sound, the most likely answer has little to do with what’s currently being pondered as a motive for this administration, “squirrel”. The reality is within the Bergdahl deal, and the GITMO-5 to Qatar, there is a far more likely reason.
Ahmed Abu Khattala is directly connected to the covert transfer of U.S. arms from Qatar to Libya in the initial 2011 decision to arm the Benghazi “rebels”.
Against the backdrop of recent discoveries about Qatar giving some of the aforementioned arms, specifically stinger missiles, to the Taliban in Afghanistan - Khattala became a risk of exposure to the White House.
They needed to throw a bag over him.
Bear with me through the complexity and I’ll outline the events with all citations included for reference.
On March 30th 2011 Reuters News Agency reported that President Obama had already signed a secret order authorizing the CIA to provide covert support to the Libyan opposition, an operation that would become known as “Zero Footprint”.
2011- U.S. officials also have said that Saudi Arabia and Qatar, whose leaders despise Gaddafi, have indicated a willingness to supply Libyan rebels with weapons. (link)
Ultimately a joint decision between the State Department (Hillary Clinton) and CIA (General David Petraeus) was reached to use friendly nations as cover for direct shipment of U.S. arms into Libya as part of Operation Zero Footprint.
According to federal law, in the event a covert operation is deemed necessary, it is the president’s responsibility to alert the leadership in the House and Senate, as well as the chairman and ranking members of the Intelligence Committees in both chambers.
In the intelligence community, this group is referred to as “the Gang of 8″ [ John Boehner, Nancy Pelosi, Mike Rogers, Ruppersberger, Mitch McConnell, Harry Reid, Diane Feinstein, Saxby Chambliss].
The Gang of 8, which included leaders from both parties should have known about Operation Zero Footprint. Now think about all the political people who have either thrown roadblocks up, or dragged their heels, in the two years since the Benghazi attack…. now go back and look at that list again. Got it? OK, good… read on.
Ironically – who probably didn’t know about Zero Footprint? John McCain – Seen here, in Benghazi, with Chris Stevens around the time it was all being executed.
It is important to remember this covert operation was after General Carter Ham (Africom) was removed in his authority over the Libyan conflict and NATO took over.
Nothing moved in and out of Libya but for the approval of NATO; so Admiral Stavridis, NATO command, had to authorize any of the armed shipments that came in there.
By the time of this White House/NATO decision Chris Stevens was embedded in Benghazi, helping to coordinate those arms shipments.
In the process constructed NATO (via Stavridis), following the instructions of the U.S. State department and CIA, used the United Arab Emirates (UAE) as the financier of the weapons.
Qatar was used as the front or go-between to handle the logistics and shipping of the weapons in and out of Libya.
Ahmed Abu Khattala in his position as the insurgent commander within the Libyan Islamic Fighting group, and as leader of Ansar al-Sharia (which is the Muslim Brotherhood link in Libya), was the recipient of all those arms flowing into Libya.
Khattala was the commander within the actual fighting force on the ground. Khattala was the leader of what Hillary called “the rebels”.
It was only a year after the attacks on the State Dept./CIA compound – on December 31, 2013- when the State Department designated Ahmed Abu Khattalah as a global terrorist.
Khattalah was the senior leader of the group Ansar al-Sharia, known for its extreme hostility toward the West. Khattalah had spent most of his adult life imprisoned by the Qaddafi regime for his Islamist views, fueling his hatred for the dictator.
Because of the unique construction of the entire Libyan operation the Department of Defense and the FBI had virtually no knowledge of Operation Zero Footprint, which is completely consistent with the US Senate Select Committee’s finding after the Benghazi attack.
In addition -as has previously been reported- AFRICOM Commander General Carter Ham was not aware a CIA Annex even existed in Benghazi, at the time of the attacks.
As the Senate Select Committee pointed out:
We are puzzled as to how the military leadership [vis-a-vi Ham] expected to effectively respond and rescue Americans in the event of an emergency when it did not even know of the existence of one of the U.S. facilities.
Details of the covert weapons operation Zero Footprint were tightly guarded among select members of Congress (the Gang of Eight), the CIA (Petraeus), the State Department (Clinton) and the White House (Donilon), who were all trying to manage a covert operation that would expose a U.S. policy decision to arm al-Qaeda, the Muslim Brotherhood and other Islamist militias. A decision that would ultimately lead to the death of Ambassador Chris Stevens, Sean Smith, Tyrone Woods and Glen Doherty.
A few weeks ago, when the political team of McDonough, Blinkin, Rhodes et al, made the political decision to use Bowe Bergdahl as an example of President Obama’s military bona-fides, and try to cover the growing VA scandal, they didn’t think through the possibility of a linkage with Qatar so heavily referenced in the media again as part of the deal to release the GITMO-5.
Indeed, Qatar might have slipped by unnoticed were it not for the backlash against the release of the terrorists and the political hot-potato the entire decision became.
The White House team could never have anticipated the re-surfacing of Qatar and the connections that came up to Qatar’s previous less-than-honorable follow-through with the Libyan missiles; some of which ended up in the hands of the Taliban and were used against U.S. forces in Afghanistan.
However, once folks -including media- began sniffing around the Qatar connections, the problem of Ahmed Khattala re-surfaced as a risk that needed to be under control. The risk compounded with the reality that ISIS, the Syrian al-Qaeda insurgency, was in the news all over Northern Iraq holding the same -albeit a different batch- stinger missiles previously id’d to the Taliban.
So last Sunday they threw a bag over him.
Now, with all of that absorbed, take a break – grab a beverage – and sit down to watch this video you’ll see how it all comes together: Here
by Aaron Klein
JERUSALEM – Members of the Islamic State of Iraq and the Levant, or ISIS, were trained in 2012 by U.S. instructors working at a secret base in Jordan, according to informed Jordanian officials.
The officials said dozens of ISIS members were trained at the time as part of covert aid to the insurgents targeting the regime of Syrian President Bashar al-Assad in Syria. The officials said the training was not meant to be used for any future campaign in Iraq.
The Jordanian officials said all ISIS members who received U.S. training to fight in Syria were first vetted for any links to extremist groups like al-Qaida.
In February 2012, WND was first to report the U.S., Turkey and Jordan were running a training base for the Syrian rebels in the Jordanian town of Safawi in the country’s northern desert region.
That report has since been corroborated by numerous other media accounts.
Last March, the German weekly Der Spiegel reported Americans were training Syrian rebels in Jordan.
Quoting what it said were training participants and organizers, Der Spiegel reported it was not clear whether the Americans worked for private firms or were with the U.S. Army, but the magazine said some organizers wore uniforms. The training in Jordan reportedly focused on use of anti-tank weaponry.
The German magazine reported some 200 men received the training over the previous three months amid U.S. plans to train a total of 1,200 members of the Free Syrian Army in two camps in the south and the east of Jordan.
Britain’s Guardian newspaper also reported last March that U.S. trainers were aiding Syrian rebels in Jordan along with British and French instructors.
Reuters reported a spokesman for the U.S. Defense Department declined immediate comment on the German magazine’s report. The French foreign ministry and Britain’s foreign and defense ministries also would not comment to Reuters.
The Jordanian officials spoke to WND amid concern the sectarian violence in Iraq will spill over into their own country as well as into Syria.
ISIS previously posted a video on YouTube threatening to move on Jordan and “slaughter” King Abdullah, whom they view as an enemy of Islam.
WND reported last week that, according to Jordanian and Syrian regime sources, Saudi Arabia has been arming the ISIS and that the Saudis are a driving force in supporting the al-Qaida-linked group.
WND further reported that, according to a Shiite source in contact with a high official in the government of Iraqi Prime Minister Nouri al-Maliki, the Obama administration has been aware for two months that the al-Qaida-inspired group that has taken over two Iraqi cities and now is threatening Baghdad also was training fighters in Turkey.
The source told WND that at least one of the training camps of the group Iraq of the Islamic State of Iraq and the Syria, the ISIS, is in the vicinity of Incirlik Air Base near Adana, Turkey, where American personnel and equipment are located.
He called Obama “an accomplice” in the attacks that are threatening the Maliki government the U.S. helped establish through the Iraq war.
The source said that after training in Turkey, thousands of ISIS fighters went to Iraq by way of Syria to join the effort to establish an Islamic caliphate subject to strict Islamic law, or Shariah.
GustoMSC presented the Magellan-class drillship, the next step in deep-water drillship design.
Named after Ferdinand Magellan who was the first sea explorer to circumnavigate the earth, GustoMSC developed the Magellan-class drillship in the explorer’s own tradition of endurance, perseverance and determination. The Magellan is outperforming the current generation fleet with respect to redundancy, autonomy, safety and load carrying capacity.
Advanced new drilling techniques and developments in drilling equipment, together with the growing interest in units that could drill in deeper water and have more operational flexibility and capability, prompted thinking about a new class of drilling vessel. “The design is the result of a specific focus on operators’ requirements. We also received feedback on our existing products and, of course, learn from the industry in general. After the Macondo incident in 2010, for example, there were many recommendations concerning operational procedures and rig design – with an emphasis on safety. We naturally wanted to incorporate that information into the new design,” says Sjoerd Hendriks, Design Manager of the Magellan project.
The Magellan is the largest drillship that GustoMSC has designed to date. The design backbone of the ship consists of the well-established and field-proven principles of its predecessors. The most important step forward is that the Magellan design is equipped for 20,000 psi well-control systems, including the associated increases in capacity, such as high hook loads and setback capacities. Magellan’s ability to accommodate higher pressure, high variable loads, mud volumes and setback capacities and incorporate any type of advanced drilling techniques – such as managed pressure drilling and dual gradient systems, means it is equipped to drill well beyond the current market limit of 12,000 feet.
Press Release, June 16, 2014