US, world headed for 25 year depression: Jim Rickards

US, world headed for 25 year depression: Jim Rickards

“When I use the phrase 25 year depression, it sounds extreme but it’s not. We had a 30 year depression in the United States from about 1870 to 1900…The Great Depression lasted from about 1929 to 1940. The U.S. is in a depression today.” Well, it's been in the works for

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Canadian banking haven myth exposed

Canadian banking haven myth exposed

"One of the reasons that Canadians (and international commentators, other finance ministers and global financial institutions) buy this Canadian banking fairy tale is the way the government accounts for the money borrowed to support the banks." The sorry spectacle of Conservat

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Get rid of your mortgage, loans, because interest rates set to rise

Get rid of your mortgage, loans, because interest rates set to rise

Get rid of your loans, guys and gals, because we are going into a high interest rate period. Very high. It will be the equivalent of going into the double digit interest rates we had in the 80s where many people threw their house keys at the bank and we had record numbers of ba

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E-cigarettes save lives, money

E-cigarettes save lives, money

"We know that cigarettes have thousands of chemicals in them and we know that they are killing us. They have been for over a hundred years. So now, the e-cig industry comes along with only one or two chemicals in their mixture and people are freaking out over these as well. Whe

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US inches closer to big bank charges

US inches closer to big bank charges

Federal prosecutors are nearing criminal charges against some of the world’s biggest banks, according to lawyers briefed on the matter, a development that could produce the first guilty plea from a major bank in more than two decades. In doing so, prosecutors are confronting

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Canada’s home sales top predictions; why a real estate crash is inevitable

Canada’s home sales top predictions; why a real estate crash is inevitable

“The assurance of relatively low borrowing costs has likely given home buyers confidence while rising home values have kept new listings at a healthy level. Stable employment has provided some assurance to owners and buyers alike.” Our website is back after many months of

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Comparing today’s recession/depression to the 1980 recession

Comparing today's recession/depression to the 1980 recession

"Much like today, Americans were concerned not only with high unemployment but increasing budget deficits in the early 1980s. A September 1983 Gallup poll found that three-fourths of the public agreed that the federal government's budget deficit was a great threat (42%) or some

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Why savers are getting screwed

Why savers are getting screwed

"Without the intervention of economic policymakers, interest rates would be naturally higher. That would increase the cost of borrowing for businesses and consumers, but there would be some offsetting economic benefits. Savers are getting screwed by the current monetary policy

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Geithner admits USA bankrupt to US Senate

Geithner admits USA bankrupt to US Senate

"Never in our history has Congress failed to increase the debt limit when necessary. Failure to raise the limit would precipitate a default by the United States. Default would effectively impose a significant and long-lasting tax on all Americans and all American businesses

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World economies on verge of currency revaluations to deal with debt

World economies on verge of currency revaluations to deal with debt

"It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning." -- Henry Ford Basically what the world central banks are doing is increasing their money by devaluin

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Is Obama the next Mugabe of Zimbabwe?

Is Obama the next Mugabe of Zimbabwe?

"America, Britain, Japan, Germany, France, Sweden, Holland, Norway, Canada and Australia make up the Fishmongers Group and their meeting on Tuesday will deliberate on the state of the inclusive government, debt relief, public finance administration and the controversial economi

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US raiding foreign countries with dollars, not soldiers

US raiding foreign countries with dollars, not soldiers

""The United States is going to China and saying: we want you to commit economic suicide, just like Japan did. We want you to follow the same thing: we want you to revalue your currency, we want you to squeeze your companies, we want you to go bankrupt,” says Michael Hudson,

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iran iraq slideshow war again

According to this article, Shaul Mofaz, an Israeli cabinet minister and former military chief and defence minister has said in a published interview that “Israel would have no choice but to attack Iran if it doesn’t halt its nuclear program.” The article then goes on to say that “Mofaz has been Israel’s representative in a strategic dialogue on Iran with U.S. officials.” In this context it’s pretty safe to assume that “strategic dialogue” is political /military code for war planning. It’s axiomatic that tactical plans are already in place.

Is Iran really a bullwark for oil prices?

The head of the IEA contends that market fundamentals (supply & demand) account for the 50% increase in the cost of oil since the start of the oil price spike in 2008. We can safely say that is balderdash because there is no way in the world that demand for oil has increased by 50 percent in 6 months as it has in the past. It is really wild, unregulated speculation in the futures markets that has been responsible for the dramatic shifts in the world pricing of oil and food. In the past, and now, it has gotten so bad that Dr. Keith Martin, an MP in Canada, started calling out for an investigation into market manipulation.

Someone (most likely a cabal of hedge fund managers) has figured out a way to “corner the market” on commodity futures. They must be stopped if even by the most draconian of means. In our wildest dreams we can imagine a surprise freeze on trading in all the world’s commodity markets. At that point, full disclosure would be imposed on all parties and appropriate taxation could be levied.

This is not a conspiracy theory – it’s obvious from the unprecedented swings in commodity prices that markets are being manipulated around the world. The most obvious villain in this scenario are the hedge funds with their opaque nature and ability to control vast funds with relatively little capital at stake. Witness the losses suffered by investment bankers in the recent mortgage debacle.

The oil prices reflect the absolute highest price the oil companies and elistist stock market goers can possibly make it. People are being slowly manipulated into thinking these prices are “just a sign of the times” and will continue to buy into it. As the manipulation continues, the price will be higher. Whether people can afford to eat or be healthy is of no concern to them whatsoever.

What would happen to the world economy if Iran were attacked?

#1) The Price Of Oil Would Skyrocket – One of the very first things a war with Iran would do is that it would severely constrict or even shut down oil shipments through the Strait of Hormuz. Considering the fact that approximately 20% of the world’s oil flows through the Strait of Hormuz, world oil markets would instantly be plunged into a frenzy. In fact, some analysts believe that oil prices would rise to $250 per barrel.

#2) Fear Would Explode In World Financial Markets – Even without a war, the dominant force in world financial markets in 2010 is fear. We are already seeing unprecedented volatility in financial markets around the globe, and there is nothing like a war to turn fear into a full-fledged panic. And what happens when panic grips financial markets? What happens is that they crash.

#3) World Trade Would Instantly Seize Up – Once upon a time the economies of the world were relatively self-contained, so a war in one area would not necessarily wreck economies all over the globe. But all of that has changed now. Today, the economies of virtually every nation are highly interdependent. That has some advantages, but it also has a lot of disadvantages.

#6) Massive Inflation – A huge jump in the price of oil and dramatically increased military spending by the U.S. government would most definitely lead to price inflation. We would probably see a dramatic rise in interest rates as well. In fact, it is quite likely that if a war with Iran does break out we would see a return of “stagflation” – a situation where prices are rapidly escalating but economic growth as a whole is either flat or declining. Read the rest of the points at Pravda.

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  2. French PM vows to fight insane food prices““We want regulation of primary commodity financial markets,” Sarkozy said in a speech in Paris overnight. “How can you explain that we regulate money markets and not commodities?” Without action,...
  3. US dollar attacked yet again; What the effects areIn recent days, there have been a number of articles in the media about the steady decline of the U.S. dollar against the price of gold and other currencies. As...
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