Thursday, March 03, 2011


News Links, March 4, 2011

## Global economic meltdown ##
Portugal May Have €4 Billion Cash
"Portugal had about €2 billion ($2.77 billion) in cash at the end of 2010, an official of the country's debt-management office said. Fresh borrowing and other public transactions suggest Portugal has this year likely increased that number to around €4 billion. The official said in an email that the figure had risen but didn't elaborate."
Eurozone at critical juncture in debt crisis
Eurozone interest rates could rise in April, ECB says
Biz group: Pay cash or debit, not credit
"Consumers should avoid paying for retail purchases with credit cards, the Canadian Federation of Independent Business said in a release from Ottawa Thursday."
Sage advice. And it helps keep people out of debt. -- RF
China aims to settle nationwide trade in yuan by 2011
"China hopes to allow all exporters and importers to settle their cross-border trades in the yuan by this year."
China Demand Voracious - A Yuan Gold Standard?
Gold and Silver Breaking New Highs as U.S. Dollar loses appeal as safe haven
How Long Does the USD Have?
Yikes! NYTimes (online) columnist finds silver price rigging plausible (GATA)
James Turk - The Dollar Collapse Will Shock the World (King World News)
Dubai leasor DAE Capital cancels 30 Airbus orders
31,690 suicides reported in Japan in 2010
Will Euro Failure Usher in World Currency? (Daily Bell)
12 Countries Most Likely to go Belly Up

## Libya ##
Gadaffi accepts Chavez talks offer
Libya revolt: Rebels say no talks unless Gaddafi goes
Arab League says Chavez plan only under review
UK in line with US over Libya, says William Hague
"The UK is "absolutely in line" with the US in preparing plans for a possible 'no-fly zone' to be imposed over Libya, William Hague has said."
Concern for future of food and medical supplies
35,860 Chinese nationals in Libya evacuated: FM
Col Gaddafi launches fresh assault on Brega
Libya crisis: Intervention may be unavoidable

## Fault lines/flashpoints/military ##
The Collapse of the Old Oil Order: How the Petroleum Age Will End (Michael T. Klare)
Saudi Arabia's Regime Will Fall, Says Analyst
Shi'ites stage protests in Saudi oil province
Over the Horizon: Sea Power and the Arab Spring
"The Somali piracy mission serves as a reminder of the worst-case scenario for North Africa and the Mediterranean: a period of prolonged disorder on land that enables pirates to operate in the Middle Sea... The revolts of the Arab Spring have also created an opportunity for the redistribution of global naval influence, with China and India responding by shifting naval assets into the Mediterranean."
On a long enough time scale, piracy in the Mediterranean — and the rest of the world — is a done deal. We've seen plenty of news items already on the growing problems of funding experienced by the world's military forces, and chaos will do the rest. -- RF
China to unveil defense budget to nervous region
Who has the fastest warplane? Russia tests another supersonic T-50 fighter.
Full-face veils outlawed France spells out controversial niqab ban
Ivory Coast on brink of civil war as seven women killed at protest march
Mubarak 'getting cancer treatment in Saudi Arabia'
Algeria launches charm offensive to head off unrest
Greeks Say "I Don't Pay"

## Energy/resources ##
Norway Drillers Hit Worst Dry Spell in Decades as Reserves Wane
Market turmoil as IEA warns 'age of cheap oil is over' -- Brent hits $117
$200 Oil Is a "Totally Exaggerated" Forecast, Says Energy Analyst Gheit
Sabic plans shift to propane, naphtha amid Saudi gas shortage

## Got food? ##
World Food Prices Increase to a Record, United Nations Says
IMF: Extremely Concerned About Rising Food Prices Globally
Mystery Meat: Authorities Find Chimpanzee Meat on Britain's Black Market
Are We Headed Toward a Food Shortage? This Expert Says Yes and Reveals How to Protect Your Family (PR Newswire)
Prices of whole milk powder hit a record
Myanmar Puts Lid on Its Rice Exports

## Environment/health ##
Study offers warning about next potential mass extinction
Eastern cougar declared extinct by US government
Americans are even fatter than Canadians
Weekend flooding feared across third of U.S.

## Intelligence/security/internet/systemic breakdown ##
Cybercrime 'industry' sees double-digit growth
US House Republicans attempt to revive Real ID
Documents reveal TSA research proposal to body-scan pedestrians, train passengers
German computer expert says US behind Stuxnet worm, Mossad involved
Leaked Pentagon Report Says the 2008 Financial Crisis was Caused by Terrorist Groups
Talk about conspiracy theories! -- RF

## China ##
Chinese activists disappear amid calls for protests
MASSIVE gold demand continues to break records in China
Chinese coal import price jumps 60pct in 2010

## UK ##
UK facing 1970s-style oil shock which could cost economy £45bn – Huhne
You're being watched: there's one CCTV camera for every 32 people in UK
Scheduled 1p fuel duty rise dropped from budget due to protests from motorists
New MoD cuts could mean even more troops face the sack

## US ##
Postal Service on path to be broke by October
Fed Balance Sheet Hits New Record At $2.55 Trillion As Bank Reserves Hit $1.3 Trillion All Time High
Ohio anti-union measure passes Senate — bad news for unions, good news for Obama
Wisconsin battle includes bullets, new layoff vow
Wisconsin Senate approves use of force to arrest absent Democrats
Geithner says oil reserves could be used
GM CEO: Carmakers Didn't Learn Nuthin' From Last Gas Crunch
US and Mexico reach proposed deal over trucking dispute
Cops: Ariz. beheading linked to Mexican cartel
Airlines raise fares for sixth time this year
Will Rising Gas Prices Put Brakes On The Economy?
Will you run out of money in retirement?
For all but the rich, there will be no money, and there will be no retirement. -- RF
Consumers grapple with increasing grocery prices
ShadowStats' John Williams Explains Why It's All Been Downhill Since 1973 (Chris
"Government statistics guru John Williams believes the most important economic indicators used by our political leaders in their decison-making - the Consumer Price Index, the unemployment rate, the Gross Domestic Product - are deeply flawed in how they're calculated."
Gallup Reports Underemployment Surges To 19.9%, February "Jobs Situation Deteriorates": As Bad As 2010
On Charles Ponzi Day We Celebrate Another All Time Record In Food Stamp Usage (44.1 million)

And finally: Video: "Kiss Your Cash Goodbye" (A C&W lament on the high price of fuel)

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