Update: Ships did not cause Internet cable damage

CAIRO – Damage to undersea Internet cables in the Mediterranean that hit business across the Middle East and South Asia was not caused by ships, Egypt’s communications ministry said on Sunday, ruling out earlier reports.
The transport ministry added that footage recorded by onshore video cameras of the location of the cables showed no maritime traffic in the area when the cables were damaged.

‘The ministry’s maritime transport committee reviewed footage covering the period of 12 hours before and 12 hours after the cables were cut and no ships sailed the area,’ a statement said.
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Giuliani pays hommage to Rockefeller and the NWO.

Dollar Crisis: None dare call it ‘conspiracy’

Crude oil prices hit an all-time high this week, closing above $98 a barrel for the first time in history.

According to the AAA, many drivers in my home state of California are already paying more than $4 a gallon for regular unleaded gas. And in one town south of Big Sur, unleaded gas topped $5 a gallon.

The U.S. dollar is at an all-time low, even when compared against the hapless Canadian loonie. Five years ago, a loonie was worth 60 cents. Today, it’s worth $1.12 and climbing.

Yesterday, WorldNetDaily reported that the Chinese are considering abandoning the U.S. dollar as their national reserve currency. WND quoted Craig Smith’s assessment of the consequences of such a move by Beijing on our economy: “If that were to happen, all bets are off, and we will be in a depression that makes 1929 look like child’s play, or we will experience Weimar Republic inflation as the dollar makes extreme moves toward devaluations.”

On Tuesday, the U.S. national debt topped $9 trillion for the first time in history, according to the U.S. Treasury Department’s daily accounting of the national debt. Nine trillion dollars! The number is so staggeringly high that it exceeds our ability to comprehend it in monetary units.

Million, billion, trillion – in financial terms, for most of us, it means a lot of money, really a lot of money, but that is about as specific a picture as most ordinary people can grasp.

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Let’s put all these “illions” into perspective. A million seconds is roughly 12 days, whereas a billion seconds is approximately 32 years.

US debt tops $9 trillion for first time-Treasury

WASHINGTON, Nov 7 (Reuters) – The U.S. Treasury Department said on Wednesday publicly held U.S. debt breached $9 trillion this week for the first time ever, just five weeks after Congress had raised the statutory borrowing limit.

At the end of September, U.S. President George W. Bush signed a measure to increase the debt limit ceiling to $9.815 trillion from $8.965 trillion, allowing the government to keep issuing debt.

The increase in the debt limit is the fifth since Bush took office in January 2001. The U.S. debt stood at about $5.6 trillion at the start of his presidency.

In approving the debt limit increase, Congressional lawmakers said the $850 billion increase should be large enough to allow the government to continue borrowing into 2009, well beyond next year’s presidential and congressional elections.

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War pimp allert: Secret move to upgrade air base for Iran attack plans

The US is secretly upgrading special stealth bomber hangars on the British island protectorate of Diego Garcia in the Indian Ocean in preparation for strikes on Iran’s nuclear facilities, according to military sources.

The improvement of the B1 Spirit jet infrastructure coincides with an “urgent operational need” request for £44m to fit racks to the long-range aircraft.

That would allow them to carry experimental 15-ton Massive Ordnance Penetrator (MOP) bombs designed to smash underground bunkers buried as much as 200ft beneath the surface through reinforced concrete.

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The mystery of the missing $2.9 trillion

Like most people, economists love a mystery – especially if it involves not a missing person but a missing $2.9 trillion in United States debt.

That’s $2.9 with 11 zeros after it.

Some words of explanation: Every quarter the Department of Commerce comes up with the US “International Investment Position.” At the end of 2006, for instance, the US had a net negative position – by this measurement of international assets and liabilities – of $2.6 trillion. In other words, the country is by far the world’s biggest debtor nation.

A quarter century ago, the US was the world’s largest creditor nation.

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Amero plot real, says biz columnist

The U.S. dollar might be destined to disappear, replaced by a regional currency called the amero, reports the Tokyo correspondent for the Singapore Business Times today.

“Truth is said to be stranger than fiction sometimes, and what I hear about the future of the U.S. dollar may sound like pure fiction, but the sources from whence the reports spring are, as they say, ‘usually reliable’ ones, and so they do have a ring of truth to them,” writes Anthony Rowley.

Rowley says the slide of the U.S. dollar in relation to other foreign currencies makes such a transition more likely.

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Continuity of the US government.. TOP SECRET!

U.S. $10 trillion in the red

BY ROB HOTAKAINEN

McClatchy News Service

WASHINGTON –

As the national debt heads toward the $10-trillion mark, generous Americans are sending checks to the federal government.Donations to the Bureau of the Public Debt have topped $2.5 million so far this year. That’s the highest amount since at least 1996.

It’s not making much of a dent, though.

For the fifth time since 2001, Congress is raising the debt limit, increasing it by $850 billion to $9.815 trillion. The Senate approved the plan on a 53-42 vote Thursday. That’s $9,815,000,000,000.00.

The House of Representatives has already signed off on the plan, without a direct vote.

According to the folks who follow this stuff closely, the national debt has been rising by an average of $1.36 billion per day since September of last year.

And each citizen now has a share of nearly $30,000.

But Congress has an easy solution to deal with the rising tide of red ink. Instead of fretting over it, members simply allow the government to borrow more money, much to the consternation of some critics.

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Greenspan continues the destruction of the dollar

Mr Greenspan left the Federal Reserve in January 2006 Greenspan’s outlook

One of the most influential figures in the world economy, former US central bank chairman Alan Greenspan, has warned that the good times are over for the world economy.Mr Greenspan, who played a key role in managing the US economy as head of the Federal Reserve from 1986 to 2006, says that higher interest rates and higher inflation are more likely in the future, leading to slower economic growth and lower housing and share prices.

In a wide-ranging interview with BBC economics editor Evan Davis, he warns that the UK cannot escape from global economic pressures.

And he says that central bank governors, including the Bank of England’s Mervyn King, face a far more difficult task in managing the economy in turbulent times.

Why is Mr Greenspan so gloomy for the world economy?

And why have his perceptions shifted so sharply, compared with his views when he was in charge of the Fed?

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