Is it certain that the nations of the European Union are heading for a hard fall? It certainly looks that way. When the overspending of governments such as Greece, Portugal, and Ireland were involved, the threat to the euro was real, but it could be psychologically contained (an important factor in maintaining the stability of financial institutions). Those three nations, after all, are small. Spain, the fourth member of the “PIGS,” was more than half the size of the Italian economy, but much of the industrialized West has viewed Mediterranean nations as inherently volatile.
North Korea’s official government-controlled media announced that the country’s “Dear Leader,” Kim Jong-Il, died on Saturday at age 69 from “physical and mental overwork.” A teary-eyed TV anchorwoman claimed, “It is the biggest loss by the party … and it is our people and nation’s biggest sadness … [but we must] change our sadness to strength and overcome our difficulties.”
Last November, the British coalition government introduced a new requirement into immigration rules: The immigrant must be know the English language. The rule was challenged by Rashida Chapti and Vali Chapti, two Indians in their 50s. Rashida speaks English but Vali, her husband of 37 years, does not. Currently the couple lives separately because of that obstacle. In their lawsuit, the couple claimed that the language requirement violated their rights under the European Convention on Human Rights, which guarantees the right to family life and the right to marry.
On Monday, President Obama, with Iraqi Prime Minister Nouri al-Maliki (left), announced that American forces had helped create a “new Iraq.” During a closed-door meeting after the public gathering with Maliki, Obama told reporters: “People throughout the region will see a new Iraq that’s determining its own destiny, a county in which people from different religious sects and ethnicities can resolve their differences peacefully through the democratic process.”
Two big agencies operating under the umbrella of the United Nations will not make public how they spend their money. UNICEF, the United Nations Children’s Fund, is intended to benefit poor children around the world and UNFPA, the United Nations Population Fund, is intended to provide for global population control. The agencies had $3.2 billion in cash in 2009, and yet they refused to tell the consulting firm IDC hired to prepare a study for the Norwegian development agency called “NORAD” how that money was spent.
A United States of Europe — minus recalcitrant Great Britain — is nearly upon us; thus saith Forbes magazine. “The euro, in its old form, has fallen into crisis and the price European countries have to pay is a large loss of sovereignty,” writes Clem Chambers (left) in the Establishment conservative magazine. Chambers continues:
As reported by Annika Breidthardt for RealClearMarkets.com, the latest European crisis summit that ended last weekend resulted in “a historic agreement to draft a new treaty” which she then characterized as “too little, too late.” Reaction of the equity and currency markets agreed, with substantial losses in American and European stock markets opening the week, and the euro dropping to lows not seen since last February.
The negative fruits of multiculturalism were on display in the UK’s court system this week.
A British judge set free a gang of Somali women who had severely beaten a white woman in full view of a surveillance camera. Meanwhile, a group of magistrates jailed a white woman — supposedly for her own safety — after she unbosomed an expletive-laced anti-immigrant tirade on a tram.
In his interview at King World News, James Turk, founder of GoldMoney and author of The Coming Collapse of the Dollar, noted in his travels around Europe that “there is one common trait, regardless of which country I am in: people are really frightened about the possibility of the collapse of the euro. Money continues to move out of the European banking system, which explains why central banks stepped in with some money printing last week.”
Investors are bullish on Europe yet again after a two-day summit in Brussels produced a triumphant agreement on the part of the 17 eurozone member nations to get their collective fiscal house in order. The options for Europe going into the conference were stark — at least, according to the doomsday rhetoric emanating from European leaders and media commentators on both side of the Atlantic. Failure to reach the foreordained agreement at Brussels would have been “a luxury we cannot afford” opined French President Nicholas Sarkozy, who added that “maintenance of the eurozone is our duty. We have no other choice.”