If you missed my earlier post today watch that first video and then you will see how important this news is.
More news about this crisis that you may have missed.
The eurozone really has only days to avoid collapse
1) The eurozone really has only days to avoid collapse
http://www.ft.com/cms/s/0/d9a299a8-1760-11e1-b00e-00144feabdc0.html#axzz1f5n5RmY1
In virtually all the debates about the eurozone I have been engaged in, someone usually makes the point that it is only when things get bad enough, the politicians finally act – eurobond, debt monetisation, quantitative easing, whatever. I am not so sure. The argument ignores the problem of acute collective action.
Last week, the crisis reached a new qualitative stage. With the spectacular flop of the German bond auction and the alarming rise in short-term rates in Spain and Italy, the government bond market across the eurozone has ceased to function.
The banking sector, too, is broken. Important parts of the eurozone economy are cut off from credit. The eurozone is now subject to a run by global investors, and a quiet bank run among its citizens.
2) The Spanish bank run has started
23.11.2011
Spain yesterday paid a whopping 5.22% for three month bonds, and 5.33% for six-month bonds, as Spanish banks are now too weak to support their own government’s debt issuance. The reason is a withdrawal of deposits – a quiet bank run – that is now in full swing in the banking systems of several southern European countries (see also the story below). The Spanish short-term interest rates are now about 2 percentage points higher than they were a month ago, which shows a dramatic escalation of the crisis. Spanish 10-year spreads were at 4.726% this morning, with Italy’s at 4.966%.
El Pais pointed out that Mariano Rajoy had asked for half an hour of support, and he got precisely that. The article said that Jens Weidmann was in the country yesterday, underlining his hard line.
European banks under massive pressure
The ongoing crisis and the EBA’s plans to toughen the ad hoc stress tests are putting European banks under enormous pressure, Financial Times Deutschland, Frankfurter Allgemeine Zeitung
3) Quiet Greek Bank Run Quickens With Euro Debt Crisis
http://news.investors.com/Article/592428/201111211844/euro-zone-greece-bank-deposit-runs-italy.htm
By JED GRAHAM, INVESTOR'S BUSINESS DAILY Posted 11/21/2011 06:44 PM ET
As the euro area's sovereign debt and economic crises escalate, a two-front attack looms
4) Bloomberg “The beginning of the end”
http://www.theatlanticwire.com/global/2011/11/latest-doomsayers-europes-debt-crisis/45441/
This is the beginning of the end for the Euro Zone Simon Johnson and Peter Boone in Bloomberg write Monday that "The path of the euro zone is becoming clear. As conditions in Europe worsen, there will be fewer euro-denominated assets that investors can safely buy. Bank runs and large-scale capital flight out of Europe are likely." Rather forebodingly, they predict that "Some nations will need to leave the euro zone. There is no painless solution … Tragedy awaits. European politicians are likely to stall until markets force a chaotic end upon them."
Will the Antichrist really have full control? With our new technology there are ways to silence people who do not go along with the Antichrist's plans. One way could be to lock people out of the worldwide Net. Can this really happen? I just received a email that will show you how it can come about. Here is that email:
Amazing! Almost 500,000 signers from across the globe in just one day — sign below and forward this email to grow our call
Dear friends across the US,
 Right now, Congress is debating a law that would give them the power to censor the world's Internet — creating a blacklist that could target YouTube, WikiLeaks and even Avaaz! Now if we stand with key members of Congress, we can defeat this attempt at global Internet censorship. Click here and help build a national outcry calling for a free and open Internet:  |
Right now, Congress is debating a law that would give them the power to censor the world's Internet — creating a blacklist that could target YouTube, WikiLeaks and even groups like Avaaz!
Under the new law, our government could force Internet providers to block any website on suspicion of violating copyright or trademark legislation, or even failing to sufficiently police their users' activities. And, because so much of the Internet's hosts and hardware are located here in the US, their blacklist would clamp down on the free web for all of us in America and millions across the world.
We only have days before the vote but we can help stop this — champions in Congress want to preserve free speech and tell us that a global outcry would strengthen their hand. Let's urgently raise our voices from every corner of America and join Avaaz members across the world to build a massive call urging our decision makersto reject the bill and stop Internet censorship. Click below to sign and then forward as widely as possible — our message will be delivered directly to key members of the US Congress ahead of the crucial vote:
http://www.avaaz.org/en/save_the_internet_us_a/?vl
For years, our government has condemned countries like China and Iran for their clampdown on Internet use. But now, the impact of these new censorship laws could be far worse — effectively blocking sites not only in the US but also to every Internet user across the globe.
Last year, a similar Internet censorship bill was killed before reaching the Senate floor, but it's now back in a different form. Copyright laws already exist and are enforced by courts. But this new law goes much further — granting the government and big corporations enormous powers to force service providers and search engines to block websites based just on allegations of violations — without a trial or being found guilty of any crime!
Free speech advocates have already raised the alarm, and some key Senators are trying to gather enough support to stop this dangerous bill. We have no time to lose. Let's stand with them to ensure our lawmakers preserve the right to a free and open Internet as an essential way for people in the US and around the world to exchange ideas, share communication and work collectively to build the world we want. Sign below to stop censorship, and save the Internet as we know it:
http://www.avaaz.org/en/save_the_internet_us_a/?vl
In the past months, from the Arab Spring to the global Occupy Movement, we've seen first hand how the Internet can galvanize, unify and change society. Now, if we stand together, we can stop this new attack on Internet freedom. We've done it before — in Brazil and Italy, Avaaz members have won major victories in the fight for a free Internet. Let's mobilize here in the US to defeat the most powerful censorship threat that the Internet has ever seen.
With hope,
Luis, Dalia, Diego, Emma, Ricken, Aaron, Antonia, Benjamin and the rest of the Avaaz team
More information:
Op-Ed: Blacklist Bill allows Feds to remove websites from Internet (Digital Journal)
http://digitaljournal.com/article/313463
Disastrous IP Legislation Is Back – And It's Worse than Ever (EFF)
https://www.eff.org/deeplinks/2011/10/disastrous-ip-legislation-back-%E2%80%93-and-it%E2%80%99s-worse-ever
Silicon Valley legislators oppose online piracy act (SFGate)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/11/15/BUO81LV0KI.DTL
House Hearing on Stop Online Piracy Act Scheduled (PC World)
http://www.pcworld.com/businesscenter/article/243659/house_hearing_on_stop_online_piracy_act_scheduled.html
Growing Chorus of Opposition to "Stop Online Piracy Act"
https://www.cdt.org/report/growing-chorus-opposition-stop-online-piracy-act
The stop online piracy act: summary, problems, and implications
https://www.cdt.org/files/pdfs/SOPA%202-pager%20final.pdf
Why Is Justin Bieber So Pissed Off?
http://www.huffingtonpost.com/timothy-karr/why-is-justin-bieber-so-p_b_1071055.html
Stop Online Piracy Act
http://www.gpo.gov/fdsys/pkg/BILLS-112hr3261ih/pdf/BILLS-112hr3261ih.pdf
PROTECT IP Act
http://leahy.senate.gov/imo/media/doc/BillText-PROTECTIPAct.pdf
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