USA - The gold standard has returned to mainstream US politics for the first time in 30 years, with a “gold commission” set to become part of official Republican party policy. Drafts of the party platform, which it will adopt at a convention in Tampa Bay, Florida, next week, call for an audit of Federal Reserve monetary policy and a commission to look at restoring the link between the dollar and gold.
LUBBOCK, USA - A Texas leader is warning of what he calls a ‘civil war’ and possible invasion of United Nations troops if President Barack Obama is re-elected. Lubbock County Judge Tom Head is convinced that Mr Obama winning a second term would lead to a revolt by the American people and he’s is pushing a tax increase for the district attorney’s office and the Lubbock County Sheriff’s Office.
GERMANY - This weekend marks the 20th anniversary of one of the darkest episodes in the history of postwar Germany, when hundreds of rioting neo-Nazis set ablaze an asylum-seekers' hostel in Rostock. Locals are tired of the onslaught of media attention, but many still live in fear of right-wing violence.
GREECE - Many German politicians accuse Greece of not doing enough to cut spending. But studies show that, measured in relative terms, Athens has carried out the most brutal austerity program in the EU's history. Prime Minister Antonis Samaras is making it clear that he wants to change his country's culture of cronyism.
RUSTENBURG, SOUTH AFRICA - Labor unrest in South Africa's platinum belt spread on Wednesday, raising concerns that anger over low wages and poor living conditions could generate fresh violence after 34 striking miners were shot dead by police last week.
ISRAEL - Israel expressed concern on Wednesday over Egypt's bolstering of its military presence in the Sinai desert in possible violation of the 1979 peace pact. Cairo was reported this week to be deploying troops and tanks in Sinai for the first time since the two countries fought a war in 1973.
EUROPE - Greece was warned last night it has one ‘last chance’ to avoid bankruptcy as allies of Angela Merkel made clear she does not care if the country drops out of the euro. The ultimatum was delivered by eurozone boss Jean-Claude Juncker as a week of crunch talks over the fate of the single currency started. He argued the departure of Greece from the eurozone would not have a ‘great impact’ on the remaining nations, and suggested Mrs Merkel held similar views. ‘If Greece is going to leave, I don’t think it’s going to have a very great impact anymore, because the countries are prepared.
UK - Many now view a Greek exit, or Grexit, as a foregone conclusion. That would come at a heavy cost to the UK, despite our being outside the single currency bloc. The bill for the British taxpayer is likely to be £1 billion, since although we are not exposed to the Eurozone bailout funds, we on the hook for a share of any IMF aid as the UK is a major stakeholder in the Fund. Greece has no future in the single currency – in a sane world, it would never have been allowed to join in the first place. But this is not a sane world. The very existence of the euro is ample proof of that.
USA - Government dependency is on the rise, with more than half of all Americans relying on the government for survival. While the Obama administration is broadening eligibility, US citizens increasingly also say they prefer it this way. Americans’ self-reliability has been decreasing as eligibility for Medicaid, food stamps, earned income tax credit, work pay tax credit and unemployment benefits have broadened since 2009 to allow more US citizens to enjoy them. More than half of the US population – 165 million of 308 million Americans – is now dependent on the state in some form.
USA - Tropical Storm Isaac spun over the Caribbean Sea and could become a hurricane on Thursday as it moves on a track that would put it off the coast of Florida on Monday, the opening day of the Republican National Convention in Tampa. As the center of Isaac moved away from the Leeward Islands, the storm prompted hurricane warnings in Haiti and the Dominican Republic. Isaac may also threaten US energy interests in the Gulf of Mexico, weather experts said.
UK - The UK has joined the US in warning Syria that the use or threat of chemical weapons would force them "to revisit their approach". The warning came after a telephone call between Prime Minister David Cameron and US President Barack Obama. The PM also spoke to French President Francois Hollande. The three discussed building support for the opposition. Earlier, Chinese state media accused Mr Obama of using the chemical arms issue as an excuse for military intervention. The UK believes Mr Assad's fall is "inevitable".
UK - A space professor from Oxfordshire is battling 'to save Earth' from a solar storm that experts fear will wreak worldwide chaos next year. Professor Mike Hapgood, who chairs the Space Environment Impacts Experts Group (SEIEG) and advises the Government on space weather, says solar storms, generated by an outburst from the sun, are set to knock out national power grids and Global Positioning Systems. He believes magnetic rays from the storm will result in widespread blackouts which will plunge homes and businesses into darkness. And experts say with the planet now relying on the Internet and hi-tech gadgetry, the chaos caused by the 2013 solar storm will have a far greater impact than any in the past.
GERMANY - Twenty years ago, an asylum-seekers hostel in Rostock was set ablaze by rioting neo-Nazis as thousands of ordinary people watched and cheered. Today, much of eastern Germany remains a no-go area for foreigners, say commentators. Authorities have failed to tackle the problem and society remains indifferent.
USA - Jacob Rothschild, John Paulson And George Soros Are All Betting That Financial Disaster Is Coming. Are you willing to bet against three of the wealthiest men in the entire world? Jacob Rothschild recently bet approximately 200 million dollars that the euro will go down.
CHINA/USA/EUROPE - They were never just going to sit there and take it. With the election cycle hotting up, the Chinese were an easy target for any and every finger-pointing blame game that US politicians were cornered with - but they are coming out swinging.