Iran Cuts Oil Supply to UK and France

Reuters
February 19, 2012

 Iran has stopped selling crude to British and French companies, the oil ministry said on Sunday, in a retaliatory measure against fresh EU sanctions on the Islamic state’s lifeblood, oil.

“Exporting crude to British and French companies has been stopped … we will sell our oil to new customers,” spokesman Alireza Nikzad was quoted as saying by the ministry of petroleum website.

The European Union in January decided to stop importing crude from Iran from July 1 over its disputed nuclear program, which the West says is aimed at building bombs. Iran denies this.

Iran’s oil minister said on February 4 that the Islamic state would cut its oil exports to “some” European countries.

The European Commission said last week that the bloc would not be short of oil if Iran stopped crude exports, as they have enough in stock to meet their needs for around 120 days.

Industry sources told Reuters on February 16 that Iran’s top oil buyers in Europe were making substantial cuts in supply months in advance of European Union sanctions, reducing flows to the continent in March by more than a third – or over 300,000 barrels daily.

France’s Total has already stopped buying Iran’s crude, which is subject to fresh EU embargoes. Market sources said Royal Dutch Shell has scaled back sharply.

Among European nations, debt-ridden Greece is most exposed to Iranian oil disruption.

Motor Oil Hellas of Greece was thought to have cut out Iranian crude altogether and compatriot Hellenic Petroleum along with Spain’s Cepsa and Repsol were curbing imports from Iran.

Iran was supplying more than 700,000 barrels per day (bpd) to the EU plus Turkey in 2011, industry sources said.

By the start of this year imports had sunk to about 650,000 bpd as some customers cut back in anticipation of an EU ban.

Saudi Arabia says it is prepared to supply extra oil either by topping up existing term contracts or by making rare spot market sales. Iran has criticized Riyadh for the offer.

Iran said the cut will have no impact on its crude sales, warning that any sanctions on its oil will raise international crude prices.

Brent crude oil prices were up $1 a barrel to $118.35 shortly after Iran’s state media announced last week that Tehran had cut oil exports to six European states. The report was denied shortly afterwards by Iranian officials.

“We have our own customers … The replacements for these companies have been considered by Iran,” Nikzad said.

EU’s new sanctions includes a range of extra restrictions on Iran that went well beyond U.N. sanctions agreed last month and included a ban on dealing with Iranian banks and insurance companies and steps to prevent investment in Tehran’s lucrative oil and gas sector, including refining.

The mounting sanctions are aimed at putting financial pressure on the world’s fifth largest crude oil exporter, which has little refining capacity and has to import about 40 percent of its gasoline needs for its domestic consumption.

Bank-owned Moody’s downgrades Italy, Portugal sees UK and France Negative

Moody’s.com
February 2012

As anticipated in November 2011, Moody’s Investors Service has today adjusted the sovereign debt ratings of selected EU countries in order to reflect their susceptibility to the growing financial and macroeconomic risks emanating from the euro area crisis and how these risks exacerbate the affected countries’ own specific challenges.

Moody’s actions can be summarised as follows:

- Austria: outlook on Aaa rating changed to negative

- France: outlook on Aaa rating changed to negative

- Italy: downgraded to A3 from A2, negative outlook

- Malta: downgraded to A3 from A2, negative outlook

- Portugal: downgraded to Ba3 from Ba2, negative outlook

- Slovakia: downgraded to A2 from A1, negative outlook

- Slovenia: downgraded to A2 from A1, negative outlook

- Spain: downgraded to A3 from A1, negative outlook

- United Kingdom: outlook on Aaa rating changed to negative

Please see the individual country specific statements below for more detailed information relating to the rating rationale and the sensitivity analysis for each affected sovereign issuer.

The implications of these actions for directly and indirectly related ratings will be reported through separate press releases.

The main drivers of today’s actions are:

- The uncertainty over (i) the euro area’s prospects for institutional reform of its fiscal and economic framework and (ii) the resources that will be made available to deal with the crisis.

- Europe’s increasingly weak macroeconomic prospects, which threaten the implementation of domestic austerity programmes and the structural reforms that are needed to promote competitiveness.

- The impact that Moody’s believes these factors will continue to have on market confidence, which is likely to remain fragile, with a high potential for further shocks to funding conditions for stressed sovereigns and banks.

To a varying degree, these factors are constraining the creditworthiness of all European sovereigns and exacerbating the susceptibility of a number of sovereigns to particular financial and macroeconomic exposures.

Moody’s has reflected these constraints and exposures in its decision to downgrade the government bond ratings of Italy, Malta, Portugal, Slovakia, Slovenia and Spain as listed above. The outlook on the ratings of these countries remains negative given the continuing uncertainty over financing conditions over the next few quarters and its corresponding impact on creditworthiness.

In addition, these constraints have also prompted Moody’s to change to negative the outlooks on the Aaa ratings of Austria, France and the United Kingdom. The negative outlooks reflect the presence of a number of specific credit pressures that would exacerbate the susceptibility of these sovereigns’ balance sheets, and of their ongoing austerity programmes, to any further deterioration in European economic conditions and financial landscape.

An important factor limiting the magnitude of Moody’s rating adjustments is the European authorities’ commitment to preserving the monetary union and implementing whatever reforms are needed to restore market confidence. These rating actions therefore take into account the steps taken by euro area policymakers in agreeing to a framework to improve fiscal planning and control and measures adopted to stem the risk of contagion.

Read Full Article…

New ‘scary’ predictions for the Eurozone to justify loss of Sovereignty

‘Deep Depression’  is the new term used in main stream media to justify another bank bailout and the surrender of political and economic sovereignty.

AFP
November 29, 2011

Europe is reeling from warnings it faces a “deep depression” if the eurozone collapses and that every EU nation’s credit rating could be hit without firm action to resolve the debt crisis.

An updated growth report from the OECD on Monday said the crisis was now just one step away from plunging advanced economies into an abyss of recession and could trigger waves of bankruptcies.

And Moody’s, one of the three main ratings agencies, warned that even solid economies such as Germany might have to have their credit status revised — a move which would force them to pay higher borrowing costs.

Italy meanwhile, under pressure from Germany and France who have warned Rome that it could wreck the eurozone if it fails to master its debt problem, launched a patriotic drive to encourage people to buy bonds.

And while Belgium managed to raise 2.0 billion euros ($2.66 billion) in a bond auction, it had to agree to investor demands for a 5.65 percent return for benchmark 10-year bonds compared to 4.37 percent less than a month ago.

Meanwhile in Washington, US President Barack Obama told top European officials they must act now, with decisive force, to fix the debt crisis which threatens to damage the fragile US recovery.

“This is of huge importance to our own economy,” Obama said after hosting EU representatives at the White House.

“The United States stands ready to do our part to help them resolve this issue.”

Despite the bad news, European stocks and the euro rebounded sharply on Monday after days of sustained heavy losses. Investors reacted positively to a report saying Italy was to get an International Monetary Fund bailout — later flatly denied.

The Organisation for Economic Cooperation and Development report forecast that the United States faced a period of slow growth, Japan’s economy would shrink 0.3 percent this year and developing nations would also see a slowdown.

But its starkest warning was reserved for the 17-nation eurozone, which it said was set for growth of 1.6 percent and next year just 0.2 percent.

The OECD said there was still time for decisive action by policymakers to avert a far worse outlook, urging the European Central Bank to buy up devalued government debt bonds in huge quantities.

But Germany has been holding out against that idea, arguing that the priority is for countries in trouble to reform their economies.

Polish Foreign Minister Radek Sikorski nevertheless on Monday called on Germany to do more, saying the eurozone’s collapse would result in an “apocalyptic” crisis.

The OECD spoke also broached the possibility of a eurozone break-up.

An exit by one or more countries “would most likely result in a deep depression in both the exiting and remaining euro area countries as well as in the world economy,” it said.

“The euro area crisis represents the key risk to the world economy at present,” it said. “A large negative event would… most likely send the OECD area as a whole into recession.”

Moody’s considered the same scenario, saying “the probability of multiple defaults… is no longer negligible” and that would “significantly increase” the likelihood of one or more members dumping the currency.

“Moody’s believes that any multiple-exit scenario — in other words, a fragmentation of the euro — would have negative repercussions for the credit standing of all euro area and EU sovereigns,” the ratings agency added.

“The continued rapid escalation of the euro area sovereign and banking credit crisis is threatening the credit standing of all European sovereigns.”

The European Union’s three biggest economies — Germany, France and Britain — have so far maintained their triple A credit rating.

But countries such as Italy, Spain, Greece, Ireland, Portugal and most recently Belgium have all suffered rating downgrades that have accelerated unsustainable rises in their borrowing costs over the past two years.

A report on the website of the French paper La Tribune, citing several sources, suggested Standard & Poor’s might downgrade France in the next few days. A spokesman for the ratings agency refused to comment.

IMF chief Christine Lagarde also dismissed a report in La Stampa that suggested the International Monetary Fund was preparing a bailout package for Italy worth up to 600 billion euros.

La Stampa said the IMF would guarantee rates of 4.0 percent or 5.0 percent on the loan — far better than the borrowing costs on commercial markets.

But Lagarde said Monday: “The IMF does not invest, the IMF lends. And it lends when it is requested by a country that needs assistance.

“At this point in time, we have not received any request from Italy, nor are we negotiating with either Italy or Spain.”

Italy’s 1.9-trillion euro public debt and low growth rate have spooked the markets in recent weeks.

But analysts said the markets were unconvinced by the denial.

Greece, Portugal and Ireland have all received bailouts but a rescue of Italy, the eurozone’s third-biggest economy, would be on a totally different scale.

Merck Vaccines Contaminated with rDNA from HPV

Dr. Sin Hang Lee found rDNA from both HPV-11 and HPV-18, which were described as “firmly attached to the aluminum adjuvant.”

rDNA found in Gardasil vaccine is Genetically Engineered

NaturalNews.com
September 16, 2011

In seeking answers to why adolescent girls are suffering devastating health damage after being injected with HPV vaccines, SANE Vax, Inc decided to have vials of Gardasil tested in a laboratory. There, they found over a dozen Gardasil vaccine vials to be contaminated with rDNA of the Human Papillomavirus(HPV). The vials were purchased in the United States, Australia, New Zealand, Spain, Poland and France, indicating Gardasil contamination is a global phenomenon.

The rDNA found in vaccines are those which Gardasil is supposed to protect against.

This means that adolescents who are injected with these vials are being contaminated with a biohazard — the rDNA of HPV. In conducting the tests, Dr. Sin Hang Lee found rDNA from both HPV-11 and HPV-18, which were described as “firmly attached to the aluminum adjuvant.”

That aluminum is also found in vaccines should be frightening all by itself, given that aluminum should never be injected into the human body (it’s toxic when ingested, and it specifically damages the nervous system). With the added discovery that the aluminum adjuvant also carries rDNA fragments of two different strains of Human Papillomavirus, this now reaches the level of a dangerous biohazard — something more like a biological weapon rather than anything resembling medicine.

As SANE Vax explains in its announcement, these tests were conducted after an adolescent girl experienced “acute onset Juvenile Rheumatoid Arthritis within 24 hours” of being injected with an HPV vaccine. (http://sanevax.org/sane-vax-inc-dis…)

rDNA found in Gardasil is genetically engineered

The rDNA that was found to be contaminating Gardasil is not “natural” rDNA from the HPV virus itself. Rather, it is a genetically engineered form of HPV genetic code that is added to the vaccines during their manufacture.

As Dr. Lee, the pathologist who ran the laboratory tests identifying the biohazard contamination of Gardasil said:

“Natural HPV DNA does not remain in the bloodstream for very long. However, the HPV DNA in Gardasil is not ‘natural’ DNA. It is a recombinant HPV DNA (rDNA) — genetically engineered — to be inserted into yeast cells for VLP (virus-like-particle) protein production. rDNA is known to behave differently from natural DNA. It may enter a human cell, especially in an inflammatory lesion caused by the effects of the aluminum adjuvant, via poorly understood mechanisms. Once a segment of recombinant DNA is inserted into a human cell, the consequences are hard to predict. It may be in the cell temporarily or stay there forever, with or without causing a mutation. Now the host cell contains human DNA as well as genetically engineered viral DNA.”

Innocent girls being injected with genetically engineered HPV rDNA

What all this means is that through Gardasil vaccines, innocent young girls are being injected with the recombinant DNA of HPV, and that this biohazardous substance persists in their blood. The implications of this are rather scary, as Dr. Lee explains:

“Once a segment of recombinant DNA is inserted into a human cell, the consequences are hard to predict. It may be in the cell temporarily or stay there forever, with or without causing a mutation. Now the host cell contains human DNA as well as genetically engineered viral DNA.”

The vaccine industry, of course, has a long and dark history of its vaccines being contaminated with cancer-causing viruses and other frightening contaminants. Watch this astounding video of Merck scientist Dr. Hilleman openly admitting that polio vaccines were widely contaminated with SV40 viruses that cause cancer: http://naturalnews.tv/v.asp?v=13EAA…

It’s called “Merck vaccine scientist admits presence of SV40 and AIDS in vaccines – Dr. Maurice Hilleman” and was partially narrated by Dr. Len Horowitz. You can view the full transcript of this extraordinary interview at:
http://www.naturalnews.com/033584_D…

If you thought vaccines were safe, think again. Get informed. Learn the truth, and please share this story so that others may also be informed.

Listen up, folks: Why do you think the vaccine industry pushed so hard for total financial immunity under the government’s vaccine injury compensation plan? Because they knew that if the truth ever got out about how many cases of cancer, autism and even death were truly caused by vaccines, they would be financially wiped out!

Libya: U.S. Government Propaganda and Media Lies

by Brian Becker
Global Research
August 24, 2011

Libya is a small country of just over 6 million people but it possesses the largest oil reserves in all of Africa. The oil produced there is especially coveted because of its particularly high quality.

The Air Force of the United States along with Britain and France has carried out 7,459 bombing attacks since March 19. Britain, France and the United States sent special operation ground forces and commando units to direct the military operations of the so-called rebel fighters – it is a NATO- led army in the field.

The troops may be disaffected Libyans but the operation is under the control and direction of NATO commanders and western commando units who serve as “advisors.” Their new weapons and billions in funds come from the U.S. and other NATO powers that froze and seized Libya’s assets in Western banks. Their only military successes outside of Benghazi, in the far east of the country, have been exclusively based on the coordinated air and ground operations of the imperialist NATO military forces.

In military terms, Libya’s resistance to NATO is of David and Goliath proportions. U.S. military spending alone is more than ten times greater than Libya’s entire annual Gross Domestic Product (GDP) which was $74.2 billion in 2010, according to the CIA’s World Fact Book.

In recent weeks, the NATO military operations used surveillance-collecting drones, satellites, mounting aerial attacks and covert commando units to decapitate Libya’s military and political leadership and its command and control capabilities. Global economic sanctions meant that the country was suddenly deprived of income and secure access to goods and services needed to sustain a civilian economy over a long period.

“The cumulative effect [of NATO’s coordinated air and ground operation] not only destroyed Libya’s military infrastructure but also greatly diminished Colonel Gaddafi’s commanders to control forces, leaving even committed fighting units unable to move, resupply or coordinate operations,“ reports the New York Times in a celebratory article on August 22.

A False Pretext

The United States, United Kingdom, France, and Italy targeted the Libyan government for overthrow or “regime change” not because these governments were worried about protecting civilians or to bring about a more democratic form of governance in Libya.

If that were the real motivation of the NATO powers, they could start the bombing of Saudi Arabia right away. There are no elections in Saudi Arabia. The monarchy does not even allow women to drive cars. By law, women must be fully covered in public or they will go to prison. Protests are rare in Saudi Arabia because any dissent is met with imprisonment, torture and execution.

The Saudi monarchy is protected by U.S. imperialism because it is part of an undeclared but real U.S. sphere of influence and it is the largest producer of oil in the world. The U.S. attitude toward the Saudi monarchy was put succinctly by Ronald Reagan in 1981, when he said that the U.S. government “will not permit” revolution in Saudi Arabia such as the 1979 Iranian revolution that removed the U.S. client regime of the Shah. Reagan’s message was clear: the Pentagon and CIA’s military forces would be used decisively to destroy any democratic movement against the rule of the Saudi royal family.

Reagan’s explicit statement in 1981 has in fact been the policy of every successive U.S. administration, including the current one.

Libya and Imperialism

Libya, unlike Saudi Arabia, did have a revolution against its monarchy. As a result of the 1969 revolution led by Muammar Gaddafi, Libya was no longer in the sphere of influence of any imperialist country.

Libya had once been an impoverished colony of Italy living under the boot heel of the fascist Mussolini. After the Allied victory in World War II, control of the country was formally transferred to the United Nations and Libya became independent in 1951 with authority vested in the monarch King Idris.

But in actuality, Libya was controlled by the United States and Britain until the 1969 revolution.

One of the first acts of the 1969 revolution was to eliminate the vestiges of colonialism and foreign control. Not only were oil fields nationalized but Gaddafi eliminated foreign military bases inside the country.

In March of 1970, the Gaddafi government shut down two important British military bases in Tobruk and El Adem. He then became the Pentagon’s enemy when he evicted the U.S. Wheelus Air Force Base near Tripoli that had been operated by the United States since 1945. Before the British military took control in 1943, the facility was a base operated by the Italians under Mussolini.

Wheelus had been an important Strategic Air Command (SAC) base during the Cold War, housing B-52 bombers and other front-line Pentagon aircrafts that targeted the Soviet Union.

Once under Libyan control, the Gaddafi government allowed Soviet military planes to access the airfield.

In 1986, the Pentagon heavily bombed the base at the same time it bombed downtown Tripoli in an effort to assassinate Gaddafi. That effort failed but his 2-year-old daughter died along with scores of other civilians.

The Character of the Gaddafi Regime

The political, social and class orientation of the Libyan regime has gone through several stages in the last four decades. The government and ruling establishment reflected contradictory class, social, religious and regional antagonisms. The fact that the leadership of the NATO-led National Transition Council is comprised of top officials of the Gaddafi government, who broke with the regime and allied themselves with NATO, is emblematic of the decades-long instability within the Libyan establishment.

These inherent contradictions were exacerbated by pressures applied to Libya from the outside. The U.S. imposed far-reaching economic sanctions on Libya in the 1980s. The largest western corporations were barred from doing business with Libya and the country was denied access to credit from western banks.

In its foreign policy, Libya gave significant financial and military support to national liberation struggles, including in Palestine, Southern Africa, Ireland and elsewhere.

Because of Libya’s economic policies, living standards for the population had jumped dramatically after 1969. Having a small population and substantial income from its oil production, augmented with the Gaddafi regime’s far-reaching policy of social benefits, created a huge advance in the social and economic status for the population. Libya was still a class society with rich and poor, and gaps between urban and rural living standards, but illiteracy was basically wiped out, while education and health care were free and extensively accessible. By 2010, the per capita income in Libya was near the highest in Africa at $14,000 and life expectancy rose to over 77 years, according to the CIA’s World Fact Book.

Gaddafi’s political orientation explicitly rejected communism and capitalism. He created an ideology called the “Third International Theory,” which was an eclectic mix of Islamic, Arab nationalist and socialist ideas and programs. In 1977, Libya was renamed the Great Socialist People’s Libyan Arab Jamahiriya. A great deal of industry, including oil, was nationalized and the government provided an expansive social insurance program or what is called a welfare state policy akin to some features prevalent in the Soviet Union and some West European capitalist countries.

But Libya was not a workers’ state or a “socialist government” to use the popular if not scientific use of the term “socialist.” The revolution was not a workers and peasant rebellion against the capitalist class per se. Libya remained a class society although class differentiation may have been somewhat obscured beneath the existence of revolutionary committees and the radical, populist rhetoric that emanated from the regime.

As in many developing, formerly colonized countries, state ownership of property was not “socialist” but rather a necessary fortification of an under-developed capitalist class. State property in Iraq, Libya and other such post-colonial regimes was designed to facilitate the social and economic growth of a new capitalist ruling class that was initially too weak, too deprived of capital and too cut off from international credit to compete on its own terms with the dominant sectors of world monopoly capitalism. The nascent capitalist classes in such developing economies promoted state-owned property, under their control, in order to intersect with Western banks and transnational corporations and create more favorable terms for global trade and investment.

The collapse of the Soviet Union and the “socialist bloc” governments of central and Eastern Europe in 1989-91 deprived Libya of an economic and military counter-weight to the United States, and the Libyan government’s domestic economic and foreign policy shifted towards accommodation with the West.

In the 1990s some sectors of the Libyan economic establishment and the Gaddafi-led government favored privatization, cutting back on social programs and subsidies and integration into western European markets.

The earlier populism of the regime incrementally gave way to the adoption of neo-liberal policies. This was, however, a long process.

In 2004, the George W. Bush administration ended sanctions on Libya. Western oil companies and banks and other corporations initiated huge direct investments in Libya and trade with Libyan enterprises.

There was also a growth of unemployment in Libya and in cutbacks in social spending, leading to further inequality between rich and poor and class polarization.

But Gaddafi himself was still considered a thorn in the side of the imperialist powers. They want absolute puppets, not simply partners, in their plans for exploitation. The Wikileaks release of State Department cables between 2007 and 2010 show that the United states and western oil companies were condemning Gaddafi for what they called “resource nationalism.” Gaddafi even threatened to re-nationalize western oil companies’ property unless Libya was granted a larger share of the revenue for their projects.

As an article in today’s New York Times Business section said honestly: “”Colonel Qaddafi proved to be a problematic partner for the international oil companies, frequently raising fees and taxes and making other demands. A new government with close ties to NATO may be an easier partner for Western nations to deal with.”

Even the most recent CIA Fact Book publication on Libya, written before the armed revolt championed by NATO, complained of the measured tempo of pro-market reforms in Libya: “Libya faces a long road ahead in liberalizing the socialist-oriented economy, but initial steps— including applying for WTO membership, reducing some subsidies, and announcing plans for privatization—are laying the groundwork for a transition to a more market-based economy.” (CIA World Fact Book)

The beginning of the armed revolt on February 23 by disaffected members of the Libyan military and political establishment provided the opportunity for the U.S. imperialists, in league with their French and British counterparts, to militarily overthrow the Libyan government and replace it with a client or stooge regime.

Of course, in the revolt were workers and young people who had many legitimate grievances against the Libyan government. But what is critical in an armed struggle for state power is not the composition of the rank-and-file soldiers, but the class character and political orientation of the leadership.

Character of the National Transition Council

The National Transitional Council (NTC) constituted itself as the leadership of the uprising in Benghazi, Libya’s second largest city. The central leader is Mustafa Abdel-Jalil, who was Libya’s Minister of Justice until his defection at the start of the uprising. He was one of a significant number of Western-oriented and neoliberal officials from Libya’s government, diplomatic corps and military ranks who joined the opposition in the days immediately after the start of the revolt.

As soon as it was established, the NTC began issuing calls for imperialist intervention. These appeals became increasing panicky as it became clear that, contrary to early predictions that the Gaddafi-led government would collapse in a matter of days, it was the “rebels” who faced imminent defeat in the civil war. In fact, it was only due to the U.S./NATO bombing campaign, initiated with great hurry on March 19 that the rebellion did not collapse.

The last five months of war have erased any doubt about the pro-imperialist character of the NTC. One striking episode took place on April 22, when Senator John McCain made a “surprise” trip to Benghazi. A huge banner was unveiled to greet him with an American flag printed on it and the words: “United States of America – You have a new ally in North Africa.”

Similar to the military relationship between the NATO and Libyan “rebel” armed forces, the NTC is entirely dependent on and subordinated to the U.S., French, British and Italian imperialist governments.

If the Pentagon, CIA, and Wall Street succeed in installing a client regime in Tripoli it will accelerate and embolden the imperialist threats and intervention against other independent governments such as Syria and Venezuela. In each case we will see a similar process unfold, including the demonization of the leadership of the targeted countries so as to silence or mute a militant anti-war response to the aggression of the war-makers.

We in the ANSWER Coalition invite all those who share this perspective to join with us, to mobilize, and to unmask the colonial agenda that hides under the slogan of “humanitarian intervention.”

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