Wednesday, October 16, 2013

Jamie Dimon: It's "Virtually Assured" for the Bond Market to Turn Against the United States

From Bloomberg (h/t ZeroHedge):

Q. How worried are you that one morning the bond market has moved against the United States?
A. It’s virtually assured, the question is when and how. I don't know if it will be two years of five years but it will happen. It is a matter of time, the United States can’t borrow indefinitely. Over hundred years bankruptcies of country after country who thought they could get away with it because they had the reserve currency and the military power of the world. We are going to have fiscal discipline. It’s imposed upon us or we do the right thing and do it to ourselves the right way.... America knows the way, it doesn't have the will.

Friday, October 4, 2013

Obama is Sabotaging Egypt's Battle with Al-Qaeda and Hamas

Looks like the US has quietly cutoff military aid and spare parts to Egypt.  This is hurting their fight against terrorists in Sinai, pissing them off royally and increasing the chances that Egypt turns to Russia:

Egyptian military leaders expressed concern over the apparent slowdown in U.S. military shipments of advanced helicopters and other parts needed to keep their warplanes in service, according to retired Army Col. Ken Allard, who recently spent three days in Cairo with his colleagues meeting with the top Egyptian military leaders.

This purported slowdown is said to have hindered military efforts to combat terrorist forces in Egypt's Sinai region and cut off the flow of weapons across the porous Libyan border, according to Allard and others.

Senior Egyptian military leaders "told us there's a problem in getting the AH-64 Apache helicopter" and other replacement parts for their F-16 fighter jets, Allard said during a Tuesday press briefing.

Both of these aircraft have been critical in Egypt's fight to stop Muslim Brotherhood-aligned terrorists who have gathered in Egypt's Sinai region and could be attempting to smuggle weapons across the Libyan border.

The problems are "part of a slowdown" in U.S. weapons shipments since the Egyptian military deposed former President Mohammed Morsi in what Americans have dubbed a "coup," Allard told the Washington Free Beacon.

Egyptians have also noted a stoppage in deliveries of additional F-16 parts, according to retired U.S. Air Force Lt. Col. Rick Francona, who also participated in the trip, which was organized by the Westminster Institute.

These critical F-16 parts were being used to modernize the American-made F-16 planes and make them more efficient.

The Egyptian military is consequently "having to cut back operations in the Sinai" that are meant to prevent terrorist attacks, according to Francona.


"We're in danger of losing a key strategic ally in the Middle East, the linchpin of the Middle East." Allard said. "I heard [Egyptian] generals say, 'Friends do not treat friends this way.'"

It "shows you what we're talking about with the Russian potential," he added.


"They are very upset with the U.S.," said retired Maj. Gen. Paul E. Vallely, a former deputy commanding general for the U.S. Army Pacific Command. "That we didn't do our homework better, that our State Department didn't do their homework better and sided with the Muslim Brotherhood."