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Iran Speeding to Nuclear Weapons Breakout

by Bassam Tawil
February 13, 2015 at 5:00 am

Iran, with its proxies in Lebanon, Syria, Iraq, Bahrain and Yemen, has surrounded all the oil fields in the region and is currently busy encircling Jordan, Israel and Palestine.

Iran not only reaches now from Afghanistan to the Mediterranean, but Iranian Shi’ites have been spreading out through Africa and South America.

By the time U.S. President Barack Obama leaves office, Iran will not only have nuclear breakout capability, but also the intercontinental ballistic missiles to deliver its nuclear warheads to Europe and North America.

If Iran can finally drive the U.S. out of the Gulf by threatening U.S. assets, it will be free to pursue still further expansion.

If the deal signed with Iran is full of loopholes, it is Obama who will be blamed. Does Obama really want his legacy to be, “The President who was even a bigger fool than Neville Chamberlain”? He will not be seen as “Nixon in China.” He will be seen as the Eid al-Adha lamb.

Recently, foreign ministers from the European Union (EU) have been holding meetings with representatives of the Arab and Muslim world, including Turkey and Qatar, with the intention of forming a “joint task force to fight Islamist terrorism.”

Turkey and Qatar, for example, directly encourage Islamist terrorism, thus there is no way they can be part of a task force to act against it.

In some Islamic thinking, such nonsense, because of its certain lack of ever seeing the light, is merely a prologue to the ultimate war between Gog and Magog (“yagug wamagu”), and heralds the End of Days.

The Arab-Muslim world engages in perpetual internal strife. Iran, for instance, with its proxies in Lebanon, Syria, Iraq, Bahrain and Yemen, has surrounded all the oil fields in the region, and is currently busy encircling Jordan, Israel and the Palestinians. Iran not only reaches now from Afghanistan to the Mediterranean, but Iranian Shi’ites have been spreading out through Africa and South America. Another sign of the End of Days is the United States’ collaboration with Iran against the Islamic State in Iraq and Syria. It means the world will eventually pay for America’s looking the other way while the Iranians are building nuclear bombs in their cellars.

These cellars may currently be distant from the shores of the United States, but they are close to all the oil fields in the Middle East. By the time U.S. President Barack Obama leaves office, Iran will not only have nuclear breakout capability, but also intercontinental ballistic missiles to deliver its nuclear warheads. Its next target will be U.S. assets in the Gulf. If Iran can finally drive the U.S. “Great Satan” out of the Gulf by threatening U.S. assets, it will be free to pursue still further expansion.

These are or will be the victims of America’s determination to drag out the problem of an exploding Middle East. That way, U.S. President Barack Obama can hand the region over to the next president, while forever pretending that the vacuum created by pulling U.S. troops out of the Middle East — now being filled by Iran, the Islamic State and other terror groups — had nothing to do with him.

This situation leaves, ironically, the lone voice of Israeli Prime Minister Benjamin Netanyahu crying in the wilderness. As much as many of us may not like him or the people he represents, he is one of the two world leaders in the West telling the truth, warning of what is to come (Geert Wilders of the Netherlands is the other). This burden of responsibility for his people (how many of us wish our leaders had even a bit of that?) has earned him only the venom of the Obama Administration, who see him as trying to spoil their strategy of leading by procrastination.

It is also becoming increasingly clear that the Obama Administration’s policy consists of running after Iran, in order to concede everything it wants, just to be able wave a piece of paper not worth the ink on it, claiming there is “a deal.” Iran, for its part, would probably prefer not to sign anything, and most likely will not. Meanwhile, both sides continue strenuously to claim the opposite.

Western leaders just seem not to be programmed to understand the capabilities of other leaders, and how they, too, negotiate, manipulate and hide behind lies. Obama’s Russian “Reset Button” did not work; his “Al Qaeda is on the run,” did not work; “We shall never let Russia take the Ukraine” did not work; and the unwinnable Israel-Palestinian “Peace Process” did not work.

Obama, in order to wave a piece of paper not worth the ink on it, seems eager to fall victim to bogus promises, worthless treaties and other leaders’ outright lies — only to look an even bigger fool than Britain’s former Prime Minister, Neville Chamberlain. After meeting with Germany’s with Adolf Hitler in 1938, Chamberlain returned to Britain boasting of “peace in our time.” But Chamberlain did not have the luxury of seeing a Chamberlain duped before him. If the deal signed with Iran is full of loopholes, it is Obama who will be blamed. Does Obama really want his legacy to be, “The president who was an even bigger fool than Neville Chamberlain”? He will not be seen as “Nixon in China.” He will be seen as the Eid al-Adha lamb.

Bassam Tawil is a scholar based in the Middle East.

Source

Obama Demands $1.1 Trillion Ransom–or He Will Crash Global Economy

14 Oct 2013

by Joel B. Pollak

President Barack Obama is demanding a $1.1 trillion “ransom”–or else he will not allow the debt ceiling to be raised. That’s the effective offer on the table from the president and Senate Democrats. They have now refused to pass a “clean” short-term debt ceiling hike unless Republicans agree to reverse the “sequester” spending cuts in the 2011 Budget Control Act that were enacted–at Obama’s suggestion–to end the last debt ceiling crisis.

The president, who has invited congressional leaders to conduct talks at the White House Monday afternoon, still continues to insist that he “will not pay a ransom for Congress reopening the government and raising the debt limit.” Yet he and his party are the ones insisting on a “ransom,” now that Republicans appear to be in the mood to compromise after opinion poll results last week showed them losing politically in the showdown.

Sen. Dick Durbin (D-IL) has claimed that the sequester dispute means that Democrats and Republicans are only $70 billion apart in budget negotiations. That is a blatant lie, as the total value of the sequester over ten years is $1.1 trillion. Democrats do not want a reprieve for one year–they want the entire sequester canceled so that they can continue spending on such priorities as the annual cowboy poetry festival in Nevada.

Last week, President Obama asked the press to “imagine if a Democratic Congress threatened to crash the global economy unless a Republican president agreed to gun background checks or immigration reform.” Now the White House and a Democrat-controlled Senate are threatening exactly that–unless Republicans agree to fork over $1.1 trillion, paid for with new “revenues” (i.e. taxes) on the American people. Ransom, indeed.

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A Repo Implosion

by MIKE WHITNEY

President Barack Obama is determined to prevail in his battle with GOP congressional leaders on the debt ceiling issue, but not for the reasons stated in the media.  Obama is less concerned with the prospect of higher interest rates and frustrated bondholders than he is with the big Wall Street banks who would be thrust back into crisis if there is no resolution before October 17.  Absent a debt ceiling deal, the repurchase market–known as repo–would undergo another deep-freeze as it did in 2008 when Lehman Brothers defaulted triggering a run on the Reserve Primary Fundrepurchase market which had been exposed to Lehman’s short-term debt. The frenzied selloff sparked a widespread panic across global financial markets pushing the system to the brink of collapse and forcing the Federal Reserve to backstop regulated and unregulated financial institutions with more than $11 trillion in loans and other obligations. The same tragedy will play out again, if congress fails lift the ceiling and reinforce the present value of US debt.

Repo is at the heart of the shadow banking system, that opaque off-balance sheet underworld where maturity transformation and other risky banking activities take place beyond the watchful eye of government regulators.  It is where banks exchange collateralized securities for short-term loans from investors, mainly large financial institutions. The banks use these loans to fund their other investments boosting their leverage many times over to maximize their profits. The so called congressional reforms, like Dodd Frank, which were ratified after the crisis, have done nothing to change the  basic structure of the market or to reign in excessive risk-taking by undercapitalized speculators. The system is as wobbly and crisis-prone ever, as the debt ceiling fiasco suggests. The situation speaks to the impressive power of the bank cartel and their army of lawyers and lobbyists. They own Capital Hill, the White House, and most of the judges in the country.  The system remains the same, because that’s the way the like it.

US Treasuries provide the bulk of collateral the banks use in acquiring their short-term funding. If the US defaults on its debt, the value that collateral would fall precipitously leaving much of the banking system either underwater or dangerously undercapitalized. The wholesale funding market would grind to a halt, and interbank lending would slow to a crawl. The financial system would suffer its second major heart attack in less than a decade. This is from American Banker:

As banking policy analyst Karen Shaw Petrou describes it, Treasury obligations are the “water” in the financial system’s plumbing.

“They’re the global reserve currency and they are perceived to be the most secure thing you can own,” said Petrou, managing partner of Federal Financial Analytics. “That is why it is pledged as collateral. … The very biggest banks fear that a debt ceiling breach breaks the pipes.”….

Rob Toomey, managing director and associate general counsel at the Securities Industry and Financial Markets Association, said institutions are concerned about whether Treasury bonds that default are no longer transferable between market participants.

“Essentially, whatever the size is of the obligation that Treasury is unable to pay, that kind of liquidity would just disappear from the market for whatever time the payment is not made,” Toomey said.”

By some estimates, the amount of liquidity that would be drained from the system immediately following a default would be roughly $600 billion, enough to require emergency action by either the Fed or the US Treasury. Despite post-crisis legislation that forbids future bailouts, the government would surely ride to rescue committing taxpayer revenues once again to save Wall Street.

Keep in mind, the US government does not have to default on its debt to trigger a panic in the credit markets.  Changing expectations can easily produce the same result. If the holders of US Treasuries (USTs) begin to doubt that the debt ceiling issue will  be resolved, then they’ll sell their bonds prematurely to avoid greater losses.  That, in turn, will push up interest rates which will strangle the recovery, slow growth, and throw a wrench in the repo market credit engine. We saw an example of how this works in late May when the Fed announced its  decision to scale-back its asset purchase. The fact that the Fed continued to buy the same amount of USTs and mortgage-backed securities (MBS) didn’t stem the selloff. Long-term rates went up anyway. Why? Because expectations changed and the market reset prices. That same phenom could happen now, in fact, it is happening now. The Financial Times reported on Wednesday that “Fidelity Investments, the largest manager of money market funds…  had sold all of its holdings of US Treasury bills due to mature towards the end of October as a “precautionary measure.”

This is what happens when people start to doubt that US Treasuries will be liquid cash equivalents in the future. They ditch them. And when they ditch them, rates go up and the economy slips into low gear.  (Note: “China and Japan together hold more than $2.4 trillion in U.S. Treasuries” Bloomberg)

Now the media has been trying to soft-peddle the implications of the debt ceiling standoff by saying, “No one thinks that holders of USTs won’t get repaid.”

While this is true, it’s also irrelevant. The reason that USTs are the gold standard of financial assets, is because they are considered risk-free and liquid. That’s it. If you have to wait to get your money, then the asset you purchased is not completely liquid, right?

And if there is some doubt, however small, that you will not be repaid in full, then the asset is not really risk free, right?

This is what the Fidelity flap is all about. It’s about the erosion of confidence in US debt. It’s about that sliver of doubt that has entered the minds of investors and changed their behavior. This is a significant development because it means that people in positions of power are now questioning the stewardship of the present system. And  that trend is going to intensify when the Fed begins to reduce its asset purchases later in the year, because winding down QE will precipitate  more capital flight, more currency volatility and more emerging market runaway inflation. That’s going to lead to more chin scratching, more grousing and more resistance to US stewardship of the system. None of this bodes well for Washington’s imperial aspirations or for the world’s reserve currency, both of which appear to be living on borrowed time.

The media has done a poor job of explaining what’s really at stake. While, it’s true that higher interest rates would make consumer loans more expensive and put the kibosh on the housing recovery, that’s not what the media cares about. Not really. What they care about is the looming massacre in shadow banking where USTs are used as collateral to secure short-term loans by the banks so they can increase their leverage by many orders of magnitude. In other words, the banks are using USTs to borrow gobs of money from money markets and financial institutions so they can finance their other dodgy investments, derivatives contracts and ancillary casino-type operations. If there’s a default, the banks will have to come up with more capital for their scams that are leveraged at 40 or 50 to 1. This systemwide margin call would trigger a deflationary spiral that would domino through the entire system unless the Fed stepped in and, once again,  provided a giant backstop in the form of blank check support.   Here’s how Tim Fernholz sums it up over at Daily Finance:

“…Many informed people are worried” (about) “A freeze in the tri-party repo market, akin to the cascade of troubles that followed the Lehman Brothers bankruptcy in 2008.”….

In 2008, more than a third of that collateral was mortgage-backed securities. When Lehman went bankrupt, its lenders began a “fire sale” of the securities it used as collateral, which drove down the value of other mortgage-backed securities, which led to more fire sales. This dynamic would eventually lead to a freeze in the repo markets, which, at the time, provided $2.6 trillion in funding to the banks each day…..

Today, most of the collateral in use is U.S. Treasuries and “agency securities” — mortgage-backed securities guaranteed by the U.S. government:

… if the ugly day of a default comes, lenders may simply stop accepting U.S. debt as collateral. That will have the effect of sucking some $600 billion in liquidity out of the banking system. Unable to get funding for Treasurys, securities dealers would be pressured to sell them-or other assets-to find new funding, creating a fire sale dynamic…..

And, of course, this scenario is only about how the Treasurys work in the repo markets. U.S. debt is used as collateral for derivatives swaps and numerous other transactions; if they are suddenly worth less than expected, lenders can be expected to demand more collateral up front, putting even more pressure on the financial system. That’s why pressure is building to raise the ceiling before the world’s largest economy enters a scenario with so much uncertainty.”

Repeat: “That’s why pressure is building to raise the ceiling before the world’s largest economy enters a scenario with so much uncertainty”.

So the Obama team isn’t worried that Joe Homeowner won’t be able to refi his mortgage or that the economy might slip back into recession. They just don’t want to see Wall Street take it in the shorts again. That’s what this is all about, the banks. Because the banks are still up-to-their-eyeballs in red ink.  Because they still don’t have enough capital to stay solvent if the wind shifts. Because all the Dodd Frank reforms are pure, unalloyed  bullsh** that haven’t fixed a bloody thing. Because the risks of another panic are as great as ever because the system is the same teetering, unregulated cesspit it was before. Because the banks are still financing their sketchy Ponzi operations with OPM (other people’s money), only now, the Fed’s over-bloated balance sheet  is being used to prop up this broken, crooked system instead of the trillions of dollars that was extracted from credulous investors on subprime mortgages, liars loans and other, equally-fraudulent debt instruments.

Can you see that?

This is why the media is pushing so hard to end the debt ceiling standoff; to preserve this mountainous stinkpile of larceny, greed and corruption run by a criminal bank Mafia and their political lackeys on Capital Hill. That’s what this is all about.

Source

Cartoon of the Day: Gun Running

Former Joint Chiefs chairman: Obama plotted to destabilize regimes in Bahrain, Egypt

[Ret.] Gen. Hugh Shelton, former chairman of the Joint
Chiefs of Staff.

WASHINGTON — The United States was said to have planned to destabilize at least two Arab countries over the last two years.

A former leading U.S. military commander asserted that the administration of President Barack Obama worked to destabilize the regimes of Bahrain and Egypt.

[Ret.] Gen. Hugh Shelton, former chairman of the Joint Chiefs of Staff, said the administration’s drive against Bahrain, wracked by a Shi’ite revolt, was led by the intelligence community.

“America thought Bahrain was an easy prey that will serve as key to the collapse of the GCC [Gulf Cooperation Council] regime and lead to giant oil companies controlling oil in the Gulf,” Shelton said.

In an interview on the U.S. network Fox News, Shelton said the administration plot was foiled by Bahraini King Hamad in 2011. He said Hamad agreed to a Saudi-sponsored decision by the GCC to send thousands of troops to Bahrain to help quell the Shi’ite revolt, attributed to Iran.

Shelton, who met Hamad during his assignment to the U.S. Navy Fifth Fleet, based in Manama, said the administration plot harmed relations with both Bahrain as well as neighboring Saudi Arabia. He said Riyad ended any trust in Washington after it was found to have helped the Shi’ites in Bahrain.

The former Joint Chiefs chairman, who served under President Bill Clinton and President George W. Bush, said Egypt stopped a drive by Obama to destabilize Egypt in 2013. Shelton said Egyptian Defense Minister Abdul Fatah Sisi, a former intelligence chief, also detected a U.S. plot to support the ruling Muslim Brotherhood amid unprecedented unrest. On July 3, Sisi led a coup that overthrew Egypt’s first Islamist president, Mohammed Morsi.

“Had Gen. Al Sisi not deposed Morsi, Egypt would have today become another Syria and its military would have been destroyed,” Shelton said.

Shelton, who did not disclose his sources of information, said Arab allies of the United States have moved away from Washington. He cited the new alliance between Egypt, Saudi Arabia and the United Arab Emirates against the Brotherhood.

“I expect calm to be restored in Egypt,” Shelton said. “Gen. Al Sisi has put an end to the new Middle East project.”

Source

Dereliction of Duty: Obama Did Nothing to Save American Lives in Benghazi–and Lied About It

by Joel B. Pollak

Nothing. That is what President Barack Obama did on the night of September 11, 2012, as terrorists attacked the U.S. consulate in Benghazi and killed four Americans, among them Ambassador Christopher Stevens. President Obama’s inaction was revealed in testimony before the Senate Armed Services Committee on Thursday by outgoing Secretary of Defense Leon Panetta and Joint Chiefs of Staff General Martin Dempsey.

Under direct questioning by Sen. Kelly Ayotte (R-NH), Panetta admitted that he had no communication with President Obama after their “pre-scheduled” meeting at 5:00 p.m. EDT. The attack on the consulate had already been under way for 90 minutes at that time. Neither the president nor anyone else from the White House called afterwards to check what was happening; the Commander-in-Chief had left it “up to us,” said Panetta.

Panetta’s testimony directly contradicts President Obama’s own claim to have issued “three directives” as soon as he learned “what was going on” in Benghazi. As he told a Denver reporter in October:

I gave three very clear directives. Number one, make sure we are securing our personnel and that we are doing whatever we need to. Number two, we are going to investigate exactly what happened and make sure it doesn’t happen again. Number three, find out who did this so we can bring them to justice.

That same claim was subsequently repeated by other Democrats, including Chicago mayor Rahm Emanuel, who came to the president’s defense. But if those directives were indeed given–and proof has never been produced–they were given long after the attack, not while the attack was going on, during which time the president did nothing.

Panetta and Dempsey also admitted, under questioning by Sen. Ted Cruz (R-TX), that they were not in touch with Secretary of State Hillary Clinton during the attacks, and did not receive a request for help from the State Department. Dempsey also testified that he had been “surprised” at Clinton’s testimony last month that she did not know of an urgent cable from Ambassador Stevens last August about the dire security situation.

To borrow a metaphor from the 2008 Democratic primary campaign: when the 3 a.m. call came (at 5 p.m. in the afternoon), neither Clinton nor Obama were there to respond.

Panetta was also forced to admit, in the face of vigorous questioning by Sen. Lindsey Graham (R-SC), that no military action at all had been taken to intervene in Benghazi after the attack had begun, promising only that a similar lapse would not happen again.

Later, on Thursday afternoon, during Deputy National Security Adviser John Brennan’s confirmation hearing to lead the Central Intelligence Agency, Sen. Marco Rubio (R-FL) demanded to know why the administration failed to interview a suspect in the attack.

Brennan’s response was merely that the Tunisian authorities who had arrested him “did not have a basis in their law” for allowing the U.S. to question him about the attack.

In sum: President Obama did nothing to save Americans under attack from terrorists. His Secretary of Defense did nothing. His Secretary of State did nothing. The Chair of the Joint Chiefs of Staff did nothing. His Deputy National Security Adviser defended doing “nothing” to help bring the perpetrators to justice. And the entire administration participated in an effort to cover up the truth. Because there was an election to be won.

Source

Analysis: Some Gulf rulers wary of U.S. shifts on Islamists, Iran

By Andrew Hammond and Rania El Gamal
DUBAI | Wed Sep 5, 2012 10:35am EDT

(Reuters) – The rise of the Muslim Brotherhood and its ideological affiliates in the Arab Spring uprisings has stoked fears among Gulf Arab governments that the United States may one day abandon its traditional allies as it warms up to Islamists.

While the ruling families in the Gulf are currently vital U.S. allies who buy large amounts of American military hardware and facilitate a significant U.S. military presence, some are apprehensive Washington may apply pressure on them to accommodate Islamists who could end up challenging their exclusive rule.

In a number of colorful online outbursts, Dubai’s outspoken police chief Dhahi Khalfan has warned of an “international plot” to overthrow Gulf systems of government with Western complicity. The Brotherhood, manipulated by the United States, is working to take over the Gulf by 2016, he said.

“Today the Americans are mobilizing the Muslim Brotherhood in the Arab nation, for the benefit of America, not the Arabs,” he wrote on his Twitter account on Sunday. “There is an American plan that has been drawn up for the region.”

Though Khalfan insists his tweets are his personal views, analysts and diplomats say they reflect largely unspoken concerns among the United Arab Emirates’ ruling elite about the regional popularity of the Islamists and the possibility that the West will sympathize with them as political underdogs.

They also reflect fears among the region’s Sunni Muslim rulers that, despite being Sunni itself, the Brotherhood is soft on their arch enemy Shi’ite Iran. Egypt’s Islamist President Mohammed Mursi tried to dissipate such fears at a Tehran conference last week by condemning Iran’s ally Syria and urging attendees to back rebels trying to overthrow President Bashar al-Assad.

Despite pockets of Western-style liberalism in cities like Dubai, most Gulf ruling elites seek to project an image of Islamic conservatism.

So the threat they see is not religious or social but political: the Brotherhood advocates playing by the rules of parliamentary politics as a path to government, threatening inherited rights to rule and state-backed clerical establishments.

An opposition movement that gains ground in Gulf states could perhaps find the U.S. administration newly disposed to speak out in its favor.

Such an opposition has already emerged in the UAE, where more than 50 Islamists linked to Brotherhood thinking have been arrested since late last year. So far Washington has kept mum.

“While the U.S. security umbrella protects the UAE against threats from Iran, Washington would be much more reluctant to support a widespread crackdown against a local opposition movement,” said analyst Ayham Kamel of the Eurasia Group.

“This is making the political leadership in the UAE much more nervous about domestic threats,” he said.

The Brotherhood also has potential to draw support from Gulf Arabs who may see their countries’ foreign policies as overly pro-Western and are concerned about the social influence of their large Asian and Western expatriate communities.

SEEKING U.S. REASSURANCE

Washington was initially hesitant to openly support the uprisings that toppled Tunisia’s Zine al-Abidine Ben Ali and Egypt’s Hosni Mubarak, partly because of concerns they could bring Islamists to power.

President Barack Obama’s administration has since overcome its reluctance, and has made extensive efforts to engage Egypt’s Brotherhood over the past year.

Analysts say Washington is simply pursuing realpolitik given the new power centers in the region.

“I don’t think the West is keen on having a bunch of Islamists coming to power in the Gulf anytime soon,” said Michael Stephens, researcher at the Royal United Services Institute based in Doha. “It’s more the case that Washington is working with who they can work with, because Islamists are in power and they have to be dealt with.”

U.S. officials said privately that they addressed the Gulf’s concerns last year after Mubarak fell and that subsequent conversations have not focused on the issue. They declined to go into specifics.

“Gulf governments realize both the United States and Iran will want to have relations with the new regimes,” said Ghanem Nuseibeh, senior analyst with Cornerstone Global. They just needed to be reassured that those regimes’ gain was not their loss, he said.

Diplomats said they were confident that building good ties with the Brotherhood was unlikely to strain the long-term strategic relationship between the U.S. and Gulf states.

“They (the Gulf states) need the Americans to protect them against Iran. Iran is the biggest worry for them in the whole region right now,” one Gulf-based Western diplomat said, asking not to be named due to the sensitivity of the issue.

YES, BUT …

Still, rumblings persist.

Saudi Arabia, which has long seen itself as insulated from political Islam because of its promotion of more conservative Salafi Islam, is feeling less secure these days, said Abdulaziz Alkhamis, a London-based Saudi analyst.

“After the Arab Spring they (the Islamists) are rising again. They start to use Islamist political rhetoric to gain publicity in the Gulf, especially Saudi Arabia,” he said.

Prominent clerics such as Awadh al-Garni and Salman al-Odah, viewed as sympathetic to the Brotherhood, have become more outspoken, cheering Islamist gains in social media.

Brotherhood-linked Islamists are well-established in Kuwait, where parliamentary politics is most advanced in the Gulf. And in Bahrain the government has drawn closer to the Minbar party, another group inspired by the Brotherhood, as it shores itself up against a protest movement dominated by Shi’ite Islamists.

The angst over what the United States plans for the region is at its most public and visceral in Bahrain, whose government Obama has urged to enter dialogue with leading Shi’ite opposition group Wefaq, citing the group by name.

Sunni clerics and commentators in official media regularly raise the fear that Washington, currently at odds with Tehran over its nuclear program, is plotting to create a Wefaq-led government in a regional reordering of power that would open a new page of cozy ties with Iran.

TV presenter Sawsan al-Shaer denounced a “Satanic alliance” between Tehran and Washington in an article in the al-Watan daily last month, claiming Wefaq was a “Trojan horse, used by the U.S. administration and Iranian regime to redraw the region.”

The wild card in the region is Qatar. It has actively promoted the Brotherhood and its affiliates, giving them coverage widely seen as positive on its satellite broadcaster Al Jazeera.

At an early stage in the uprisings Doha stuck its neck out much further than other Gulf states in its support for protests in Egypt and Tunisia, and then rebel movements in Libya and Syria, supporting those among them close the Brotherhood.

Earlier this year the Dubai police chief railed against Sheikh Yousef al-Qaradawi, a popular Brotherhood-linked Egyptian cleric based in Doha who criticized UAE policy towards Islamists on Al Jazeera. Khalfan threatened to arrest the cleric if he ever entered the country.

Alkhamis said opinion in Saudi Arabia was split over whether Qatar’s close links to the Islamists was a smart move to keep a close eye on a rising movement whose historical time has come, or a ruse to sow discord for its neighbor and sometime rival.

“The Qataris say that if we don’t have the Brotherhood (operating) openly then they will go underground and that it’s not against Saudi Arabia, but the Saudis are not happy with this,” Alkhamis said pointing to Qatar-backed Islamist seminars. “Some think the Qataris are not an honest friend, but have an agenda.”

(Additional reporting by Andrew Quinn in Washington and Raissa Kasolowsky in Abu Dhabi; Editing by Sami Aboudi and Sonya Hepinstall)

Reuters

Obama Forms Soros-Controlled Energy Council To ‘Fix’ Thriving Natural Gas Industry

https://i0.wp.com/www.trueorthodox.com/pictures/sorsocc.jpg

By Ken Blackwell
May 10, 2012

When politicians want to look busy while avoiding tough decisions during an election year, what do they do? They form commissions and councils.

And when President Barack Obama saw Americans struggling with higher gasoline and home energy prices, did he encourage more domestic oil exploration, off-shore drilling, or coal production, while lowering taxes on energy?

Of course not. After all, with political observers expecting a close presidential race this year, Obama needs the financial and institutional support far-left environmental groups. The result has been the president anointing certain energy sources – such as wind and natural gas – as energies of the future, while implementing regulatory hurdles for more dependable fuels like oil and coal.

Over the last decade, natural gas has exploded as an important energy source in the United States, accounting for almost one quarter of all energy consumed. Natural gas has boosted economic activity in states like Ohio, North Dakota, and Pennsylvania, and until recently has done so largely without the benefit of preferential treatment from the federal government.

But to expedite this natural gas boom, President Obama just recently decided to form an interagency natural gas council run by Cecilia Munoz, a former community organizer with La Raza and White House bureaucrat with deep-ties to George Soros, the billionaire investor who made his fortune in currency trading throughout the world while bankrolling liberal political efforts. Munoz formerly led the OpenSociety Institute and the Center for Community Change, two organizations which are directly connected to Soros, MoveOn.org, ACORN, and other fringe groups with a long record of opposing the development of America’s oil and coal resources.

As if having a new council run by the far left was not enough, Obama continues to support major Democratic donors such as Soros by picking winners and losers in the energy through risky subsidies, through a bill known as the NAT GAS Act.

This legislation attempts to artificially encourage a transition to more natural gas usage, by offering tax credits for natural gas vehicles, fueling stations, and storage facilities. As we all saw with the collapse of inefficient companies like Solyndra, when private investors are not willing to fund a new project, politically connected firms try to force taxpayers to fund their schemes.

But if natural gas is an already cheap and abundant source of energy, why would we subsidize it?

The answer may be found with the Soros Management Fund, which is Soros’ investment vehicle, owns more than $90 million of shares in a Vancouver, British Columbia company which produces the same natural gas-powered engines which the act would encourage the use of.

Soros has personally donated $5,000 to the act’s co-sponsor Rep. Nita Lowey of New York and his family donated $121,000 to the Democratic Senatorial Campaign Committee, while the lead sponsor of the act, Senator Robert Mendez of New Jersey, was chairman. This is in addition to the countless (and often untraceable) millions of dollars Soros pours into Democratic campaigns through the activities of his non-profit organizations and political committees.

Natural gas is a valuable and commonly used fuel. But it is not a silver bullet to our nation’s massive energy conundrum. And just like wind, solar, and nuclear, it should be left to succeed or fail based on private market forces. Government should not have the legal authority to hand your hard-earned dollars over to a private industry, just because a handful of politicians think they have the right to make decisions about what energy consumers use.

We have seen the costly errors of government manipulating energy markets, and Obama must not allow wealthy activists to profit at the expense of taxpayers. Conservatives should oppose the NAT GAS Act and other measures that give one specific fuel a distinct marketplace advantage over others.

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