Europe

GoldSilver.com’s Mike Maloney: Potential Fallout From Unpegging Swiss Franc From Euro

Regular Survival And Prosperity readers may recall that GoldSilver.com used to be an affiliate marketing partner of the blog. Great company (specializes in the instruction of precious metals investing and providing world-class gold and silver dealer services and products), but they pulled the plug on their affiliate marketing program not too long ago. Anyway, I still receive e-mails from the Santa Monica, California-based operation, and yesterday I watched a video by Mike Maloney, the precious metals expert, advisor, and author who heads up the firm. Maloney has been an advisor to Robert Kiyosaki of Rich Dad Poor Dad-fame, and even wrote a book about investing in gold and silver under the Rich Dad’s Advisors series.

Anyway, in that GoldSilver.com video Mike Maloney discussed the potential ramifications of the Swiss franc being unpegged from the euro last week- among other things. Maloney warned viewers:

Back when we were filming Hidden Secrets of Money, when we started filming it, we did the opening sequence. And in there I said, “We’re entering a period of financial crisis that is the greatest the world has ever seen.” And that is happening today. These shockwaves that could cause the Russian- this could cause another Russian Revolution to happen. We have no idea what’s going to happen. But the shockwave of all these things- the deflationary pressure, the Russian crisis that’s going on, commodities falling, and then the Swiss unpegging from the euro- all happening at once. And by the way, there’s bank runs happening right now in Greece, and four of the largest banks in Greece have asked for assistance from the European Central Bank. So, this is all happening at once. What I think is going to happen is this will smooth out for a short period of time, but then it’s going to get worse again. So these shockwaves, this all undermines the trust in central banks and the trust in fiat currencies…

The central banks are now backed into a corner, and everything that I’ve been predicting is starting to unfold here. It’s unfolding very slowly, and on a scale that’s huge. But it’s not going to be slow forever. There’s going to come a day when slow turns into very fast. And a lot of this stuff happens overnight. For instance, the currency unpeg. Nobody knew it was coming- it happened immediately. And so, these things always end up eventually being good for precious metals. I don’t look forward to the economic chaos that we’re about to go through. But, we’ll get through it, and it will be a different world when we come through the other end. Hopefully, what ends up happening, is free enterprise, free markets, capitalism, and sound money win. That would be the best outcome.


“Global Shockwaves To Come From Swiss Currency Bombshell – Mike Maloney.”
YouTube Video

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)

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Peter Schiff: China, Other U.S. Creditors Could Emulate Switzerland, Implode America When Fed Attempts QE4

“One of the world’s safest investments- the Swiss franc- has swung wildly this week after the central bank in Switzerland announced it would scrap its policy of limiting the rise of the currency.

It may seem like an arcane move, but it’s not. The Swiss National Bank’s surprise decision on Thursday caused the franc to surge against the euro and dollar, sending shockwaves through the global financial system.

Holders of Swiss francs profited handsomely, but many investors and brokerage firms, were pounded with losses…”

-Associated Press, January 16, 2015

Anyone been paying attention to what happened with the Swiss franc this past week? I have a feeling most American aren’t- which is a mistake, because the actions of the Swiss central bank may be repeated by China and other countries in the near future with respect to our country. Euro Pacific Capital CEO Peter Schiff talked about the possible implications in his January 16, 2014, entry in The Schiff Report vlog on YouTube.com. Schiff warned viewers:

When the Fed comes up with QE4, China is going to be faced with a similar decision as Switzerland. Are they going to back up their trucks and load them up with dollars? Because if we do QE4, we’re going to expect the Chinese to bear the burden if they want to keep their currency from going up. And I think Switzerland is going to show them the way. They’ll see the light. This is not going to be detrimental to the Swiss economy. On the contrary, this is going to be a positive for Switzerland, and it could be a positive for China if they abandon their peg as well. But, that’s going to be even worse for America than what Switzerland did to Europe… for America, we’ve been relying on this Chinese crutch for so long, you take it away, and there’s a real implosion here. We’re going to suffer much more if the Chinese pull our plug. I mean, we’re really going to go down the drain. This might not necessarily be the nail in the coffin for the Europeans. ..

People should look at this lesson of Switzerland and heed these warnings. And don’t just look in the rearview mirror at what happened in Switzerland. But look forward, look through the windshield at what’s coming. Look at the relationship between the Swiss franc and the euro and what are the implications between the dollar and other pegged currencies like the yuan and the Hong Kong dollar. All of these relationships are eventually going to crack. All of the countries that are subsidizing the United States, that are absorbing our trade deficits, that are piling up our Treasuries- they’re all going to have the same problem that Switzerland had. They made a mistake and corrected it in three short years. These others countries have been making a bigger mistake for a longer period of time, but eventually, they are going to be forced to bit the bullet and cut and run. And I think it’s going to be the same decision that motivated the Swiss is going to be the prospect of QE4, because everybody is expecting a tighter Fed, everybody believes that we have a legitimate recovery, and nobody is expecting this recovery to implode, and the Fed to come back with QE4- but that is exactly what’s going to happen. Just the way they were caught by surprise by what happened with the Swiss franc, they’re going to be even more surprised by what’s going to happen with the U.S. economy, what’s going to happen with the dollar…

Don’t wait for that to happen. Don’t be surprised. Don’t be bankrupted like the forex traders, or the forex companies that were extending the credit to the leveraged speculators. Get your economic house in order. Understand that economic fundamentals always come through in the end. Sometimes it takes longer to happen, and sometimes people become emboldened, because if something hasn’t happened, they think it’s never going to happen. And exactly when you get complacent, when you think it’s always going to be that way- and believe me, the people that were levered up short the Swiss franc, in their wildest imaginations, they could not see this day coming. Even though it should have been obvious that this day would come. Nobody knows when. And that’s why I always tell my clients, we’ve got to be prepared in advance. It’s too late, if you’re a day late. You’ve got to be early. If you woke up yesterday morning, and you were short the Swiss franc, it was too late to cover. The market just gapped, it was a huge move, there was nothing you could do. You had to be prepared in advance. You couldn’t time it- there was no way to know exactly when it was going to happen- because nobody could figure that out. You have to be early. You can’t be late. And so when it comes to structuring your portfolio and preparing for a dollar crisis, you’re not going to see it coming. You’re not going to do it at the last minute. You’ve got to be prepared in advance. And, you know, there’s plenty of warning signs that that day of reckoning is coming.


“Will China Pull a ‘Switzerland’ on the U.S. Dollar?”
YouTube Video

Schiff, who also heads up SchiffGold, shared his view on how gold might perform in the coming year. He told viewers:

I think gold’s going to have a big first half- even bigger than the first half of 2014- but in the second half, that’s when it could really take off.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)

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Marc Faber: ‘The President, For Whatever Reason, Might Not Finish His Term’

This year’s Barron’s Roundtable convened on January 12, 2015, at the Harvard Club of New York. And one member of the Roundtable, Swiss-born investment advisor and fund manager Marc Faber, brought up some interesting scenarios for the coming year. Dr. Faber told Roundtable participants:

Many surprises could occur in the next 12 months. The president, for whatever reason, might not finish his term. China’s president, Xi Jinping, doesn’t speak as much as Obama, but when he speaks, he makes sense. He is a powerful person. In the past 45 years, China has pursued a policy of nonintervention in other countries’ domestic affairs. But that might change because of its oil interests in the Sudan. China is the largest supplier of troops to the U.N. peacekeeping forces. Its troops are conveniently placed next to Sudan’s oil facilities. China also has a large interest in the Iraqi oilfields. If ISIS moves toward southern Iraq, which it currently can’t do, China will protect its interests. The Chinese are becoming more assertive in their geopolitical ambitions. They must ensure a supply of natural resources, such as oil, copper, and iron ore. In their view, the Americans have no interests in Southeast Asia and eventually will have to move out. It is unclear how this will be achieved, or when, but it probably won’t happen peacefully

(Editor’s note: Bold added for emphasis)

Thailand-based Faber, like fellow “crash prophets” Jim Rogers and Peter Schiff, recognizes that the West’s economic power is steadily being transferred to the East. He added in New York City:

Even if Asia doesn’t grow much this year, economic power is shifting to Asia. The Indian economy could grow by 5%-6% in 2015, although the Indians would say I am too pessimistic. Nonetheless, a 5% growth rate is enormous, compared to zero in Europe.

(Editor’s note: Bold added for emphasis)


Heineken Commercial “The Date” feat. Mohammed Rafi, Jaan Pehechaan Ho (1965)
YouTube Video

You can read the entire Roundtable discussion on the Barron’s website here.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)

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Gabe Suarez Pens Follow-Up To ‘Today, Every Man Is A Counter Terrorist’

Last Friday, I blogged about a Facebook post by Gabe Suarez, head of The Suarez Group and a decorated veteran of Southern California law enforcement, in which he talked about the recent terrorist events in Paris, France. Suarez called upon readers to take up arms and become counter-terrorists. On January 12, a follow-up was published on The Suarez Group’s Facebook page. Suarez made some observations about terrorist events in the past year and wrote:

At every terror event, whether motivated by insane religions, or simply a lack of fastidious medication, there have been plenty of everyday “people”. And I suspect there have been a few there whose initial reaction was not to cower and to shrink from the face of evil. I suspect their initial reaction was anger. Yet unarmed by their observance of social norms, they were without the effective means to act on their natural fighter’s inclinations. And they were forced by decree, into victimhood.

But dangerous times (such as those we live in today, exemplified most recently by France), call for dangerous measures. Normally those measures should be taken by those who govern, but, well…let’s not waste our time with that dead end.

I call for every man and woman that has been outraged by the events at Charlie Hebdo in Paris to take steps to be their own rescuer…their own counter terrorist. The skill of these self-motivated killers is not as high as the uninformed commentators on CNN would have us think. Are they practiced? Certainly, but they are not invulnerable. Witness how many photographs have been taken, not only of the Paris Terrorists, but of all terrorists and active shooters. A photograph is the same as a bullet…and those shots would not have been difficult to make.

I call for every capable man and woman in the west to arm themselves and carry weapons with them every single place they go where a Lone Wolf-Home Grown – Islamic Terrorist may strike. If you simply cannot obtain a firearm…at least get a knife. Sure it may be against regulations, but do you think the dead in Paris might have traded getting into trouble over getting killed for drawing a cartoon?

I challenge every man and woman who rails at the thought of hiding under a desk while a mad man roams freely, killing with an already illegal rifle, to train themselves to a level of skill suitable for killing that terrorist…for killing him with a knife from behind, or for shooting him right in his open mouth as he spews his first announcement of who he is and why he is there.

I challenge every citizen of every western nation who said, “Enough!”, or “I Am Charly”, to get off the couch and train. To become physically fit in strength and agility. To develop marksmanship skills. To develop the will and the aggression necessary to affect change in the opening moments of a planned mass slaughter. To develop the mind set and attitude to kill the terrorist, unannounced, from behind, from the darkness, from the most unexpected sector, and thereby saving his intended victims.

Only when this becomes the norm, when images of a dead terrorist flash across Facebook and Twitter…with a tight group of pistol bullets in his face, fired by a common man or woman who decided to not die quietly that day – rather than a police officer executed on the sidewalk…will the tide begin to change.

Do not fear the terrorist…the terrorist must learn to fear you.

Rather than “I am Charly”, let the unifying cry be this –

TODAY – EVERY MAN IS A COUNTER TERRORIST

(Editor’s note: Bold added for emphasis)

As the scourge of terrorism grows uglier in the coming years, Suarez’s call to arms will undoubtedly be echoed by others.

You can read the entire Facebook post on The Suarez Group’s page here.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Former Astronauts Push Effort To Locate, Track Threatening Asteroids

Here’s another natural-disaster related post where I’m going to send you straight to the source. David Perlman, science editor for San Francisco Chronicle, wrote on SFGate.com Sunday:

A group of former astronauts in the Bay Area announced last month they had marshaled more than 100 astronomers and space enthusiasts around the world to call for a major increase in efforts to locate and track all asteroids that could pose a danger to Earth…

At a recent Senate hearing, James Green, director of NASA’s planetary science division, said there may be hundreds of thousands of orbiting asteroids the size of the one that blasted apart over Chelyabinsk. It was not detected in advance by any NEO telescope, he said.

“Right now the amount of warning time that we are likely to get from one of these asteroids is zero,” [former astronaut Edward] Lu told the senators…

(Editor’s note: Bold added for emphasis)


Chelyabinsk, Russia, Meteor Strike: “Looks like a movie. But it is not.”
YouTube Video

Back in the fall of 1992, me and a buddy were driving his ’65 Mustang convertible (top down) to my family’s old cabin in southeastern Wisconsin when a meteor lit up the night sky- making everything as bright as day- before shooting down the country road we were on. The event was instantaneous, but I remember to this day the contrail left behind from that fireball.

One of the wildest things I’ve ever seen.

By the late 1990s I learned more about the threat posed by asteroids and meteors when I took up astronomy as a hobby, so I’m very happy to hear of such an initiative.

You can read Perlman’s entire article on the SFGate website here.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Gabe Suarez: ‘Today, Every Man Is A Counter Terrorist’

Because I’m busy compiling new “Resources Of The Week” for 2015, there’s won’t be a post from that series tonight.

But I also wanted to share with Survival And Prosperity readers before the week was out something I read earlier this evening on the Facebook page of The Suarez Group (“a multi-national corporation involved the study and application of high end weapons, and leading edge tactics, for students of the art of personal combat”).

I first mentioned Gabe Suarez, head of The Suarez Group and a decorated veteran of Southern California law enforcement, on this blog back in my April 28, 2011, post entitled, “The Next Mumbai-Style Terrorist Attack.” I wrote back then:

If an American Mumbai occurs, I’m guessing it will go down in a high-profile, internationally-known city whose residents/workers are likely to be unarmed and incapable of defending themselves against rampaging terrorists with automatic weapons- like my hometown of Chicago.

Still, it doesn’t hurt for Americans outside of the “Windy City” to prepare for such an event. Consider what Gabe Suarez, a decorated veteran of Southern California law enforcement and president of the personal safety training outfit Suarez International, wrote in his blog Warrior Talk News on May 6, 2010:

Put yourself in the enemy’s shoes….err, sandals…..which option would YOU pick? Which offers the easiest implementation, least chance for detection, greatest chance for success – bombs or bullets?

The mass shooting and not the improvised and unsuccessful bomb is the “easy button”, and that fact cannot be ignored by us as it will not be overlooked by the enemy.

So what do we do?

1). We must identify who the enemy is. Please go back and peruse the list of events above, both failed and successful. What is the common thread connecting the attackers?

2). Carry your gun everywhere…..a REAL fighting gun….not some sissy “suitable for CCW” 5 shot “self defense gun”.
The times are not such that concern over a mugger is the issue anymore. Carry extra ammo with you. It is not difficult at all to carry a full sized pistol with a couple of extra magazines. I have done so since 1983.

These are not the times to be seeking political correctness over public safety. It is not the time to fear false labels created and assigned by the mass media. The Israelis learned that lesson long ago. After all is said and done, it is better to be a live “intolerant racist” (as the MSM would call us) than a dead “co-existing”, tolerant “paragon of political correctness”. I suspect that had Shahzad’s bomb been successful, lots of tolerant, “co-exist” types would have died right alongside us “intolerant racists”. The times call for careful profiling and suspicious curiosity as well as daily preparation.

Dress everyday as if you had a business meeting in Mumbai on 26 November 2008 with a bunch of Jews, Christians, and atheist Americans at a cafe right across the street from the Jihad School Of Terrorism.

Be ready or be a victim.

“Be ready or be a victim.” Great words to live by.

No holds barred, right? Anyway, Suarez wrote the following yesterday concerning tactical matters related to the terrorism in France:

Today,

EVERY MAN IS A COUNTER TERRORIST

So consider the following – if you can, be armed always. Yes…I know. But consider the implications. Of the ten dead civilians in France, how many would have willingly disobeyed unconscionable laws in order to stay alive? If it is difficult, learn to conceal the weapon better. At the very least have a knife with which to stab a terrorist to death.

And stabbing a man to death is an exercise in extreme violence. It is not some strip mall karate school exercise done with high school kids to get in shape. It is violent and sudden and what the body does in its final moments will shock you…maybe, if you haven’t gotten your mind right about such matters.

If you look like the King Of Comedy rather than the King Of the Cage, put down the f*cking remote and get your ass in fighting shape. The terrorist coming to kill you has taken his fitness seriously…do you think he is kidding?

If you are armed your life is easier. Resist the temptation to leave the real sized fighting gun at home and go forth with some “civilian friendly metro sexual” pistol. Anyone can carry a full sized fighting pistol with a little fore thought and care in dressing for the weapon.

Consider that a terrorist event like what we saw in France is not the same as a CCW self defense encounter with concerns over legality, disparity of force, or liability. The moment that it is a terrorist event, all other concerns are non-issues. And a man or men with masks and rifles classifies as that.

Learn to shoot accurately at distance. There were guys photographing and videotaping the assassination of the French police officer. A good practiced hand with a proper pistol might have killed one or both of those terrorists at the distance.

There will be no warnings, no posting and challenging, only recognition of threat and escalation of violence…or as I term it, “getting ahead” of the fight by shooting. Learn to shoot faces and necks at room distances. Yes, there is a chance you will be killed by the terrorist…but you will be killed anyway.

And how do you want to look for the Crime Scene photos?

Under a desk hiding with a terrified look on your face and a back full of 7.62×39 rounds, or a smiling corpse on a mountain of brass and dead terrorists? I pray if I am given that choice I will be the guy in the second image. But….but, you might not be either one. You might survive and win if you are decisive enough, accurate enough, and violent enough.

Let us all be those things.

“A smiling corpse on a mountain of brass and dead terrorists”

Classic Suarez. And several points I, for one, will be left thinking about this weekend.

You can read the entire Facebook post on The Suarez Group’s page here.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

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Britain’s MI5 Chief, Former CIA Deputy Director Issue Terrorism Warnings

There’s no doubt in my mind that terrorism will soon be coming to our doorstep again.

Conducted both “lone wolf” style and via organizational activity.

And two high-profile members of the U.S. and U.K. intelligence communities are suggesting the same. From the Agence France-Presse (AFP) website yesterday:

The head of Britain’s domestic spy agency MI5 warned on Thursday that militant Islamists in Syria were planning “mass casualty attacks” in the West and that intelligence services may be powerless to stop them.

“We know… that a group of core al-Qaeda terrorists in Syria is planning mass casualty attacks against the West,” Andrew Parker told journalists in London a day after an Islamist attack in Paris claimed 12 lives.

“Although we and our partners try our utmost, we know that we cannot hope to stop everything,” he added…

“We still face more complex and ambitious plots that follow the now sadly well-established approach of al-Qaeda and its imitators — attempts to cause large-scale loss of life, often by attacking transport systems or iconic targets,” he said.

(Editor’s note: Bold added for emphasis)

There’s also this from former CIA Deputy Director and CBS News Senior Security Contributor Michael Morell back on December 15, 2014. From an exchange between CBS This Morning co-host Norah O’Donnell and Morell (speaking about the Australian lone-wolf terrorist event going on that day):

O’DONNELL: Michael, when other countries will look at this incident, perhaps as ISIS succeeding in some way in encouraging lone wolves to carry out these types of attacks. What concerns you the most?

MORELL: What concerns me the most is that we’re going to see this kind of terrorism around the world, and we are going to see it here, Norah. We are going to see this kind of attack here. And we need to be prepared for that. It shouldn’t surprise people when this happens here sometime over the next year or so- guaranteed.

(Editor’s note: Bold added for emphasis)

“When this happens here sometime over the next year or so- guaranteed”

Yikes. That’s the first time I’ve ever heard a timeframe being attached to a threat like that.

And a guarantee to boot.

Does Morell know something you and I don’t?

Considering his background- probably.


CBS Video

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(UPDATE: The Federal Bureau of Investigation and Department of Homeland Security issued a terrorism-related intelligence bulletin Friday to 18,000 U.S. law enforcement agencies in the wake of the Paris terrorist events. However, it did not specify any specific threat to the U.S. homeland connected to the incidents in France.)

Source:

“Militants planning mass casualty attacks against West.” Agence France-Presse. 8 Jan. 2015. (http://news.yahoo.com/militants-planning-mass-casualty-attacks-against-west-uk-005654650.html). 9 Jan. 2014.

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Al-Qaeda Behind Terrorist Attack On Paris Publication?

“Islamic State has made al Qaeda nearly irrelevant”

-MarketWatch.com headline, January 7, 2015

The first news headline I saw on my laptop this morning was about a terrorist attack in Paris, France. From the Fox News website:

Three black-clad gunmen shouting “Allahu Akbar!” stormed the Paris offices of a satirical publication known for lampooning Islam Wednesday, killing 12, including its editor, three political cartoonists and a police officer whose cold-blooded murder at close range was captured on a disturbing video.

The masked, Kalashnikov-toting shooters moved with military precision, and then escaped following the 11:30 a.m. attack at Charlie Hebdo, the publication known for challenging Muslim terrorists with a 2011 caricature of Prophet Muhammed on its cover and which recently tweeted a cartoon of Islamic State leader Abu Bakr al-Baghdadi, and were being sought.

“We’ve avenged the honor of the prophet!” the killers shouted, according to witnesses who spoke to Sky News. Other witnesses said the men shouted “Allahu Akbar,” Arabic for “God is great.” The gunmen spoke French without any accent, according to Le Monde…

It’s very possible that the attack was carried out by Al-Qaeda or one of its affiliates. Fox News noted:

Cartoonist Corine Rey, aka “Coco,” told the weekly Humanité that she let the men inside the building of Charlie Hebdo after being ordered at gunpoint.

“They spoke perfect French,” said Rey, who said the rampage lased about five minutes. “They said they were Al Qaeda.”

(Editor’s note: Bold added for emphasis)

If Al-Qaeda or an affiliate was behind the assault, that should come as no surprise to regular Survival And Prosperity readers. I blogged back on June 28, 2011:

Recent suggestions that Al-Qaeda is on the run and that their new leader, Ayman al-Zawahiri, is “a bit of a loser,” as a source close to the Obama administration has called him (source: The Telegraph)- in conjunction with those recent setbacks suffered by Al-Qaeda- may motivate the Egyptian surgeon to push for a major attack against the United States and/or its allies as soon as possible.

(Editor’s note: Bold added for emphasis)

In addition to this on August 29, 2014:

Much of the mainstream media is playing up the threat to the U.S. from the Islamic State. Personally, I’m more concerned about Al-Qaeda beating them to the punch. I’ve already talked about Ayman al-Zawahiri needing to establish his “street cred.” But the emergence of the other band of terrorists formerly known as ISIS (the Islamic State of Iraq and Syria) or ISIL (the Islamic State of Iraq and the Levant) puts even more pressure, I suspect, for bin Laden’s standard bearers to carry out a successful major operation against the U.S. homeland, and with haste.

(Editor’s note: Bold added for emphasis)

“Against the U.S. homeland.” That includes America’s allies as well.

Finally, I wrote the following on November 14, 2014, while discussing reports of terrorist reconnaissance of Britain’s Parliament:

Something tells me our friends in Western Europe might suffer a major terrorist attack before a strike against the United States.

Now, some might argue that the Paris attack wasn’t a “major” one. I disagree. The operation appeared to be carefully-planned (“Witnesses said the attack was carried out commando-style, with the gunmen demanding the names of those they encountered, indicating that they had specific targets in mind”) with fatalities surpassing the Boston Marathon bombings and other recent “lone wolf” attacks.

It was also “major” in that if Al-Qaeda was responsible, it was a bold statement to the world that they remain a significant player in global jihad and are staunch defenders of the faith despite the Islamic State getting most of the attention as of late.

That being said, I still predict major terrorist attacks having the potential of inflicting large numbers of casualties will be directed against America and its allies in the future. The possible culprits being several, but including Muslim extremists like Al-Qaeda and its affiliates.

But today, my attention is focused on continental Europe. My thoughts and prayers are with the deceased, their loved ones, and the people of France.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Source:

“At least 12 dead in Islamist terror attack at satirical French publication.” FOX News. 7 January 2015. (http://www.foxnews.com/world/2015/01/07/shooting-reported-at-office-satirical-french-newspaper/). 7 January 2015.

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Wednesday, January 7th, 2015 Europe, Middle East, Religion, Terrorism, War No Comments

Marc Faber Shares 2015 Outlook, Talks Bonds, Stocks, Precious Metals

Yesterday, Swiss-born investment advisor/money manager Marc Faber appeared on Bloomberg Television’s In the Loop. Speaking with Brendan Greeley, Betty Liu, and Erik Schatzker, the publisher of the monthly investment newsletter The Gloom Boom & Doom Report shared his outlook for 2015. Dr. Faber told viewers:

I’m saying that we will have a lot of volatility and a lot of surprises, that’s why I keep on recommending diversification. And I just like to mention that hedge funds in 2014 and active money managers had a bad year. Almost 90 percent of active managers underperformed the S&P 500. And hedge funds, by-and-large, the average is up about 1 percent. But the portfolio that has actually done well is the All Weather portfolio of Bridgewater Associates, because they diversified- they were also in bonds…

So I’m diversified. I still think that the sentiment about stocks in the U.S. is much too bullish, much too optimistic… I think the Treasury market is not such a bad alternative given my view that the global economy is actually slowing down, and given the low yields you have in Japan and Europe.

(Editor’s note: Bold added for emphasis)

Famous for advising clients to get out of the U.S. stock market one week before the October 1987 crash and for calling the 2008 global economic crisis, Dr. Faber told the Bloomberg audience that when it comes to stocks, he prefers to invest in Asia and emerging economies of Asia than in the U.S.

The “crash prophet” added one more thing. Faber said:

I tell you, I prefer physical precious metals stored outside the U.S. But if you cannot own physical precious metals, I believe that whereas the sentiment about the stock market is bullish, and about investments in general, and whereas I believe that most assets are in kind of a bubble- we have a credit bubble- I have to say that sentiment about precious metals is incredibly negative. And all these experts are predicting gold price to drop to $700. Well understood, these are experts that never owned a single ounce of gold in their lives. So they missed the five-fold increase since 1999. But they all know that the price of gold will go to $800- they’re right about it with a lot of authority. And they also say these are people that never gave a gold jewelry to their girlfriends and saw the smile of these beautiful girls after they received the jewelry.

(Editor’s note: Bold added for emphasis)


“Marc Faber: Diversify Amid Volatility, Surprises in 2015”
Bloomberg TV Video

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)

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Alan Greenspan: Gold Is A Currency, And Currently A Good Investment

Back in late October I recall The Wall Street Journal talking about some comments made by former Federal Reserve Chairman Alan Greenspan to the Council on Foreign Relations concerning gold. I’ve been meaning to look into what Greenspan, who served as Fed Chair from 1987 to 2006, actually said about the precious metal. During lunchtime, I dug up the final version of the transcript from his visit with the CFR in New York City on October 29, 2014. From the exchange between the president of Greenspan Associates LLC and presider Gillian Tett:

TETT: I’m going to turn to the audience for questions in one minute, but before I do though, I just want to ask though, one of the really interesting chapters in your book is about gold. And there’s been a lot of media debate in the past about your views on gold.

You yourself oppose a question as to why would anyone want to buy this barbarous relic — I don’t know whether John Paulson is in the audience — but it’s an interesting question. But do you think that gold is currently a good investment given what you’re saying about the potential for turmoil?

GREENSPAN: Yes.

(LAUGHTER)

TETT: Do you put…

GREENSPAN: Economists are usually perfect in equivocating. In this case I didn’t equivocate. Look, remember what we’re looking at. Gold is a currency. It is still by all evidences the premier currency where no fiat currency, including the dollar, can match it. And so that the issue is, if you’re looking at a question of turmoil, you will find, as we always have in the past, it moves into the gold price.

But the gold price is actually sort of half a commodity price, so when the economy is weakening, it goes down like copper. But it’s also got a monetary characteristic which is instrinsic. It’s not inbred into human beings — I cannot conceive — of any mechanism by which you could say that, but it behaves as though it is.

Intrinsic currencies like gold and silver, for example, are acceptable about a third party guarantee. And, I mean, for example at the end of World War II, or just at the end of it, Germany could not import goods without payment in gold. The person who shipped the goods in would accept the gold, and didn’t care whether there was any credit standing — associated with it. That is a very rare phenomenon. It’s — it’s the reason why, for example, in a renewal of an agreement that the central banks have made — European central banks, I believe — about allocating their gold sales which occurred when gold prices were falling down, that has been renewed this year with a statement that gold serves a very important place in monetary reserves.

And the question is, why do central banks put money into an asset which has no rate of return, but cost of storage and insurance and everything else like that, why are they doing that? If you look at the data with a very few exceptions, all of the developed countries have gold reserves. Why?

TETT: I imagine right now, it’s because of a question mark hanging over the value of fiat currency, the credibility going forward.

GREENSPAN: Well, that’s what I’m getting at. Every time you get some really serious questions, the 50 percent of the gold price determination begins to move.

TETT: Right.

GREENSPAN: And I think it is fascinating and — I don’t know, is Benn Steil in the audience?

TETT: Yes.

GREENSPAN: There he is, OK. Before you read my book, go read Benn’s book. The reason is, you’ll find it fascinating on exactly this issue, because here you have the ultimate test at the Mount Washington Hotel in 1944 of the real intellectual debate between the — those who wanted to an international fiat currency which was embodied in John Maynard Keynes’ construct of a banker, and he was there in 1944, holding forth with all of his prestige, but couldn’t counter the fact that the United States dollar was convertible into gold and that was the major draw. Everyone wanted America’s gold. And I think that Benn really described that in extraordinarily useful terms, as far as I can see. Anyway, thank you.

TETT: Right. Well, I’m sure with comments like that, that will be turning you into a rock star amongst the gold bug community…

(Editor’s note: Bold added for emphasis)

I’m not sure if the above will mean Greenspan is now a rock star among the “gold bugs”- he’s still considered by many as being a habitual asset bubble blower. But such a high-profile individual within the global financial community lending support to the ideas that gold is a currency and currently a good investment will no doubt anger a number of gold bears and haters.

You can read the entire transcript of Greenspan’s visit to the CFR on their website here.

Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s note: I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)

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Jim Rogers: Buy China, Japan, Russia, Agriculture

Last Thursday, I talked about a recent interview I listened to of well-known investor Jim Rogers. Robert Williams, the founder of the Baltimore, Maryland-based investment research/market commentary service Wall Street Daily, was asking the questions.

Apparently, I didn’t hear the entire exchange between the two. Williams got the former investing partner of George Soros in the legendary Quantum Fund to share with listeners what stocks he’s buying/intends to buy these days. From the Wall Street Daily website last Friday:

WILLIAMS: Do you have confidence in the U.S. stock market?
ROGERS: Well Bob, the U.S. stock market is making an all-time high. As you know, it’s up more highs this year than any year since 1929. That’s not a bottom. I’d rather buy – I’m buying shares in other markets around the world. I mentioned Russia… China, I bought more Chinese shares yesterday… Japan, I want to buy some more if I get time off the phone to buy more Japanese shares. You know the Chinese and Japanese markets are down 60% from their all-time highs. America’s making all-time highs as it did in 1929. I don’t know if these other markets are better, but I know buying low and selling high often turns out to be right.

(Editor’s note: Bold added for emphasis)

China, Japan, Russia. Check.

And agriculture.

On November 25, Jim Rogers appeared on the Bloomberg Television show Countdown. Host Mark Barton noted the chairman of Rogers Holdings is now an independent director of PhosAgro, Europe’s biggest phosphate fertilizer maker. Rogers shared with viewers:

So I started investing in Russia. I found this company. I’m bullish on agriculture. I’m bullish on these guys. They’re young, smart people. So here I am.

When asked what else he was bullish on in Russia, Rogers said:

I’ve been buying shares of the Moscow Stock Exchange… The easy way is the index, so I bought the ETF, as well. There are various ways to play Russia. Russia’s hated. In my view, wrongly so. And I hope, that all this is going to pass and I’ll make a lot of money.

On China, the Singapore-based investor noted:

I’m buying shares in China… Since the economic plenum of November of 2013- you know the Chinese said, “These are the areas of the economy we’re going to emphasize.” Mark, if the government is going to put a lot of money into those areas, I am too. They’ve got more money than I do. They’re smarter than I am. So I’m investing with them.

When pressed about other areas he was investing in, Rogers pointed out:

The markets that I have been investing in this year- new things- are Japan, Russia, China, agriculture. That’s where I’ve been putting my- those are all depressed markets. Why would you buy the U.S. at an all-time high, when you can buy Japan 60 percent below its all-time high, or China, 60 percent below its all-time high?

He added the following about Japanese Prime Minister Shinzō Abe and “Abenomics”:

He’s going to ruin Japan. But in the next two or three years, I hope he’s going to make me a lot of money. And the investment community. He’s making stocks go up.


YouTube Video

You can listen/read (transcript provided) to the rest of that Rogers interview by Robert Williams on the Wall Street Daily website here.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)

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Marc Faber: Young Americans Will Earn Less, Have Less Wealth Than Their Parents

I wrote on Survival And Prosperity a couple years ago:

Back in 2006 when I was working at a suburban fire department, a battalion chief came into my office, saw the local paper on my desk, and asked, “Did you read that piece about how kids these days might be the first generation who won’t be better off than their parents?” I replied, “Yeah, it was depressing.” The fire officer confided, “That stuff scares me. I’m worried they might be right about that.” I’d be concerned too, especially if I were the parent of a couple of young kids like this chief was.

Fast forward almost nine years after that discussion took place. Swiss-born investment advisor/money manager Marc Faber was interviewed by Barron’s last week. The publisher of the monthly investment newsletter The Gloom Boom & Doom Report talked with editor Jack Otter about a number of financial topics, including how younger people in Western societies will be less well-off than their parents. From their exchange:

OTTER: You always find new ways to depress me. And today you told me that for the first time in 200 years of history, we will bequeath to our children less wealth than their parents had.
FABER: Yes. I meant that with respect to Western societies and Japan, where essentially the younger people, today’s generation, will earn less than their parents. And they will have less wealth than their parents, inflation-adjusted, because we will have wealth taxes, we’ll have more estate taxes, and we have essentially declining real median incomes in the Western world and Japan. But the good news is that we have essentially have in the countries that opened up post-breakdown of the socialist, communist ideology- China, Soviet Union, Eastern Europe, and so forth, and India, of course- we have entire generations that will earn much more and have a much better standard of living than their parents had.

On India, “Doctor Doom”- as the financial media likes to call him- thinks that India’s stock market could rise by 15 percent in 2015.


“Dr. Doom Offers 2 Stocks Picks, But Gloomy Outlook”
Barron’s Video

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)

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Pope Francis Inviting Assassination Attempt?

This week I intended to dive back into some series of posts I haven’t done in a while- “In Print,”, “Signs Of The Time,” and “Resource Of The Week.”

Regrettably, that will have to wait until next week as I still had a few more things I needed to get off my chest. Including the following which seriously concerns me.

Regular readers of Survival And Prosperity might remember me mentioning that I’m of the Roman Catholic faith. I attended a Catholic kindergarten, grade school (three different ones), high school (all boys- what did I do to deserve that punishment?), and even graduate school, to give you an idea of how big a role the Church has played in my life. Last year, Jorge Mario Bergoglio was elected by a papal conclave to head the Roman Catholic Church. As Pope Francis, he has been making headlines on a regular basis. Now comes this out of Rome. Nick Squires reported on The Telegraph (UK) website Wednesday:

He has dismissed and demoted cardinals, bishops and the Vatican secretary of state, and now Pope Francis’s reformist zeal has claimed a new scalp – the head of his own private army, the Swiss Guard.

In a dispassionate one-sentence notice, the Vatican’s official newspaper, L’Osservatore Romano, announced on Wednesday that Daniel Anrig will no longer serve as the commandant of the 500-year-old corps after the end of next month.

No official explanation was given for the decision, but it was widely rumoured that the Argentinean Pope, who has established a warmer, more inclusive style of governance since being appointed pontiff in March last year, found the commander’s manner overly strict and “Teutonic”…

The Jesuit pontiff, nicknamed “the people’s Pope”, is said to want the Swiss Guard to be less rigid in its rules, even “less military”, according to Il Messagero, a Rome-based daily.

That is in line with the Pope’s dislike of security in general.

On trips abroad, including his visit to Turkey at the weekend, he asks to be driven around in a modest hatchback, rather than a shiny, armour-plated limousine.

He has chafed at the restrictions to his freedom of movement imposed by the Swiss Guard and the Vatican gendarmerie, the tiny city state’s police force…

(Editor’s note: Bold added for emphasis)

Now, going back a few months, readers may have heard the following. Natasha Kulzac wrote on The Independent (UK) website on September 16:

The Islamic State (Isis) is intent on killing the Pope, the Iraqi ambassador to the Holy See has warned the Vatican.

Habeeb Al-Sadr, who has been the ambassador since 2010, has advised that one of Isis’ goals is to assassinate the Pontiff and warned that the jihadists “don’t just threaten”, according to Italian newspaper La Nazione.

Mr Al-Sadr confirmed he did not have any specific intelligence on an impending attack but said that their “genocide” of Yazidi Christians and destruction of holy Islamic sites was an indication of their intent.

“What has been declared by the self-proclaimed Islamic State is clear – they want to kill the Pope,” he told La Nazione on Tuesday, adding: “The threats against the Pope are credible.”

The threat against Pope Francis, 77, was widely discussed earlier this year after he had endorsed the ‘stopping’ of Isis and its persecution of 40,000 Christians in northern Iraq.

It was reported in August that security in Rome had been heightened after Israeli officials warned that the Pope’s censure of Isis had led the militants to target him.

The Vatican played down this risk with spokesman Reverend Federico Lombardi SJ telling the Catholic News Agency: “There is nothing serious to this. There is no particular concern in the Vatican. This news has no foundation.”

(Editor’s note: Bold added for emphasis)

Readers may recall what I blogged back on September 22:

Islamic State spokesman Abu Muhammad al-Adnani looks to have released a new speech in which he threatens Americans and its European allies. From “Indeed Your Lord Is Ever Watchful,” which was distributed on social media yesterday… the Vatican is threatened:

And so we promise you by Allah’s permission that this campaign will be your final campaign. It will be broken and defeated, just as all your previous campaigns were broken and defeated, except that this time we will raid you thereafter, and you will never raid us. We will conquer your Rome, break your crosses, and enslave your women, by the permission of Allah, the Exalted. This is His promise to us; He is glorified and He does not fail in His promise. If we do not reach that time, then our children and grandchildren will reach it, and they will sell your sons as slaves at the slave market.

(Editor’s note: Bold added for emphasis)

“There is no particular concern in the Vatican.” There should be, as the newly-minted caliphate and its fighters tend to be overachievers, so to speak. And Pope Francis just got done blasting the Islamic State (again). From Reuters on December 2:

Francis several times condemned Islamic State’s insurgents during his three-day trip. On the plane, he said some Christians had been forced to abandon everything: “They are driving us out of the Middle East.”

In an address at a Mass on Sunday, he said Islamic State were committing a “profoundly grave sin against God” and called for inter-religious dialogue and action against poverty to help end the conflicts in the region.

He added that ending poverty was crucial, partly because it gave rise to “the recruitment of terrorists”…

(Editor’s note: Bold added for emphasis)

If what Squires said about papal security is true and it’s being tinkered with to make it less intrusive and more representative of a “people’s Pope,” I would share the following with Pope Francis if the opportunity ever presented itself:

I get that you think your security detail is a real drag. But look at what happened to John Paul II. There’s a reason why they bust out the Popemobile whenever you require a set of wheels- and his name is Mehmet Ali Agca and others who wish to emulate him. You of all people know that evil- real evil- exists in the world. And taking out the head of the Roman Catholic Church would be quite a victory for the bad guys. The world is on the verge of some real dark times. And there are already a number of issues within the Church that need serious attention. So Catholics need their Pope now more than ever. To lead. Not be in a position to join the ranks of the Church’s martyrs- God bless their souls. Work with the Swiss Guard. Don’t weaken time-tested security measures that were implemented out of necessity. You shouldn’t feel like you have to inject your physical presence among us, the Catholic masses. Our faith is already strong enough to survive yet one more intangible aspect of our religion. That boast by the Islamic State about “We will conquer your Rome, break your crosses, and enslave your women”? Who’s not to say this proclaimed caliphate- sensing an opportunity here- won’t try sending gunmen to Italy to take your life? I fear the threat is real. Don’t play into their hands. “Deliver us from evil”- not into it- right?

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Sources:

Squires, Nick. “Pope sacks the head of his Swiss Guard for being ‘too strict’” The Telegraph. 3 Dec. 2014. (http://www.telegraph.co.uk/news/worldnews/the-pope/11271618/Pope-sacks-the-head-of-his-Swiss-Guard-for-being-too-strict.html). 5 Dec. 2014.

Culzac, Natasha. “Islamic State: Pope is ‘being targeted by Isis’, Iraqi ambassador to the Holy See warns.” The Independent. 16 Sep. 2014. (http://www.independent.co.uk/news/world/middle-east/islamic-state-pope-being-targeted-by-isis-iraqi-ambassador-to-the-holy-see-warns-9736110.html). 5 Dec. 2014.

“Pope blasts Christian, Muslim fundamentalists while leaving Turkey.” Reuters. 2 Dec. 2014. (http://www.jpost.com/Christian-News/Pope-blasts-Christian-Muslim-fundamentalists-while-leaving-Turkey-383405). 5 Dec. 2014.

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Friday, December 5th, 2014 Crime, Europe, Middle East, Religion, Security, Terrorism No Comments

Peter Schiff: Swiss ‘No’ Vote May Signal Gold’s Bottom, Return Of Bull Trend

“Swiss voters overwhelmingly rejected an initiative on Sunday that would have forced the country’s central bank to hold one-fifth of its assets in gold, a move that would have eroded its ability to conduct monetary policy.

Citing projections from results in 19 of the country’s 26 cantons, Swiss television said roughly 78% of voters opposed the initiative, dubbed ‘Save Our Swiss Gold.’ The gold initiative would have also barred the Swiss National Bank from selling gold in the future…”

-The Wall Street Journal website, November 30, 2014

I hadn’t been paying too much attention to that Swiss vote on gold. But after the mainstream financial news outlets cheered the Swiss citizens rejecting the initiative, I thought this could rank right up there with the United Kingdom selling off half its gold reserves in 1999 when the precious metal was valued at only $300 an ounce- a 20-year low at the time.

In other words, a move the Swiss may very well come to regret in the coming years.

To each their own, I always say.

And Wednesday, the CEO of Euro Pacific Capital, Peter Schiff, shared his thoughts about Switzerland’s rejection of the yellow metal. From his December 3 SchiffGold “Gold Videocast” entry on YouTube.com:

I actually believe that the “no” vote- from the long-term perspective- is even more bullish for the price of gold than had Switzerland voted to back their currency with 20 percent gold…

Thinking about it from a historical perspective, if there’s a chance that we saw the lows for the entire gold move on Sunday night, it would be ironic, and then I think makes a lot of sense, that the Swiss “no” vote on adopting even a modified gold standard would mark the low point for gold. Just like you have the Bank of England dumping a bunch of gold at the lows, I mean, central banks or actions around central banks sometimes mark key points. And the fact that the Swiss said “no” to gold, “we don’t want it,” that may be the day that gold actually bottomed out and now we’re resuming the bull trend. Only time will tell whether that is the case. But again, if it’s not the absolute bottom, I think it’s close enough not to worry about it, and I think that people need to be buying the gold that the Swiss citizens just told their bank not to buy. And not only the gold, silver. Because if gold goes up, silver’s going up. So buy both metals.


“Gold Videocast: Swiss Franc No Longer a Safe Haven
and a Possible Bottom in Gold”
YouTube Video

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

(Editor’s notes: Info added to “Crash Prophets” page; I am not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented herein.)

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Islamic State May Now Have A Dirty Bomb, But What About A Nuke?

“Militants in Iraq have taken hold of nuclear materials at university science facilities near the northern city of Mosul, the Iraqi government has said in a letter to the United Nations.

But two U.S. officials told CNN on Wednesday that the small amounts of uranium aren’t enriched or weapons-grade, prompting only minimal concern…”

-CNN website, July 10, 2014

I remember reading about the Islamic State getting their hands on that nuclear material near Mosul this summer. And I also remember the American response to it happening- which was basically “who cares?”

Now, I distinctly recall what I was thinking when I heard the news:

The caliphate is going to build themselves some dirty bombs.

From the United States Nuclear Regulatory Commission website:

A “dirty bomb” is one type of a radiological dispersal device (RDD) that combines conventional explosives, such as dynamite, with radioactive material. The terms dirty bomb and RDD are often used interchangeably in the media. Most RDDs would not release enough radiation to kill people or cause severe illness – the conventional explosive itself would be more harmful to individuals than the radioactive material. However, depending on the situation, an RDD explosion could create fear and panic, contaminate property, and require potentially costly cleanup… A dirty bomb is not a “Weapon of Mass Destruction” but a “Weapon of Mass Disruption,” where contamination and anxiety are the terrorists’ major objectives

A “weapon of mass disruption.” Cute.

On Saturday, the Daily Mirror- a British tabloid- ran the following:

Islamic State fanatics have built a dirty bomb, it has been claimed.

The fighters are said to have made a device using radioactive uranium stolen from Iraq’s Mosul University after seizing control of the city last June.

And this week they were boasting of the damage it would cause if blown up in London, although sources insist security measures would make it almost impossible to transport here…

If the bomb does exist, militants are far more likely to use it in Syria or Iraq, rather than trying to smuggle it into a Western country.

(Editor’s note: Bold added for emphasis)

“Although sources insist security measures would make it almost impossible to transport here.”

“Militants are far more likely to use it in Syria or Iraq, rather than trying to smuggle it into a Western country.”

Not sure I agree with those statements. First off, you don’t need to “transport” the components required to construct a dirty bomb. There’s a good chance the bad guys would be able to source that locally in the U.K.

Second, going back to that NRC statement about dirty bombs being “weapons of mass disruption” rather than “destruction”- it’s my understanding that Iraq and Syria are way past being “disrupted.” Why would the Muslim extremists waste such fear-inducing devices there? New York City makes more sense as a potential dirty bomb target. Think Wall Street during the business week or Times Square on New Year’s Eve. That’s what I’d be trying to prevent if I were still in government and in the counter-terrorism field.

So the caliphate may have a dirty bomb. Not shock there if this turned out to be true considering the relative ease of constructing one. More of a concern should be the Islamic State getting their hands on a nuclear weapon. Why’s that? Because these guys have proven themselves to be hard-chargers and probably wouldn’t hesitate to detonate the damn thing among their enemies. Joe Cirincione, an expert on nuclear proliferation, penned on the Huffington Post website on November 28:

It is impossible now for ISIS to build a nuclear bomb from scratch. Doing so would require large, industrial facilities to enrich uranium, billions of dollars and gigawatts of energy. But if they could get the highly-enriched uranium — about 100 pounds would do, about the size of a soccer ball — it is possible that they could assemble the equipment and small technical team to build the bomb.

Jeffrey Lewis described in the superb documentary, Countdown to Zero, how few people are actually required to do this and how little it would cost. But it does require a sophisticated operation. ISIS has the capabilities required.

We have never encountered a terrorist group like ISIS. Their demonstrated brutality and willingness to kill large numbers of innocents is shocking, but is now the kind of terrorism that we have become familiar with over the past 20 years. ISIS adds three capabilities that catapult the threat beyond anything seen before: control of large, urban territories, huge amounts of cash (perhaps as much as $2 billion), and a global network of recruits.

With these assets they could illicitly acquire the nuclear material for a bomb from vulnerable storage sites in Russia or Pakistan, and possibly nuclear expertise as well

(Editor’s note: Bold added for emphasis)

Remember that phrase “if you build it, they will come” from the 1989 film Field of Dreams?

It’s seems like “if they build it, they will blow s**t up” as it concerns these particular jihadists.

By Christopher E. Hill
Survival And Prosperity (www.survivalandprosperity.com)

Sources:

Dorman, Nick and Doyle, Neil. “British ISIS fanatics have built a dirty bomb and boast of the damage it could inflict on London.” The Mirror. 29 Nov. 2014. (http://www.mirror.co.uk/news/uk-news/british-isis-fanatics-built-dirty-4721561). 2 Dec. 2014.

Cirincione, Joe. “Preventing a Nuclear ISIS.” Huffington Post. 18 Nov. 2014. (http://www.huffingtonpost.com/joe-cirincione/preventing-a-nuclear-isis_b_6180120.html). 2 Dec. 2014.

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