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Netanyahu, according to the report, has been holding talks with his aides in light of the ongoing tensions in the coalition. These conversations have highlighted Netanyahu’s frustration over the situation and particularly his mistrust of Finance Minister Yair Lapid, who heads the Yesh Atid party.
Netanyahu has said, among other things, that Lapid’s 0% VAT law will “waste billions and will not truly change housing prices.” He has also been quoted as not being happy with the budget, another point of contention between him and Lapid, saying that he does not want to allow Lapid to cut the defense budget and “paralyze the IDF”.
Furthermore, according to Channel 2, the Prime Minister accused the Finance Minister of trying to carry out a putsch with the hareidi parties and establish an alternative government in the current Knesset, together with the hareidim and with the Labopr party. There have been recent speculations that Lapid was indeed planning such a move.
“The way the government is functioning now, we cannot continue,” added Netanyahu in these closed conversations.
Netanyahu and the parties in his coalition have been at odds over several issues, the latest being the controversial Jewish State Law, which passed a Cabinet vote this week but which Lapid and Justice Minister Tzipi Livni are opposed to and have threatened to vote against when it comes to a vote in the Knesset.
Hundreds of Jordanians on Friday joined a rally organized by the Muslim Brotherhood to denounce Israeli plans to enshrine in law the country’s status as the national Jewish homeland.
An estimated 1,500 protesters set off from the Husseini mosque in downtown Amman holding up signs saying “Al-Aqsa is in danger”, according to AFP.
“There is a greater danger today, and that is the Jewish state draft law,” Hamzeh Mansur, the former head of the Brotherhood’s Islamic Action Front party, told the protesters.
“Where is Jordan’s custodianship over Jerusalem and where is the promised Palestinian state?” he asked.
Some day it will be said that on this archipelago lies the work of financial mad men and terrorists. If the survivors could mount a plaque, they would list Professor Rogoff and Krugman on the very top.
“Every week we roll over approximately $100 billion in U.S. bills,” Lew told the committee. “If U.S. bondholders decided that they wanted to be repaid rather than continuing to roll over their investments, we could unexpectedly dissipate our entire cash balance.”
“There is no plan other than raising the debt limit that permits us to meet all of our obligations,” Lew said.
“Let me remind everyone,” Lew said, “principal on the debt is not something we pay out of our cash flow of revenues. Principal on the debt is something that is a function of the markets rolling over.”
The vast amount of debt that the Treasury must roll over in such a short time frame is driven by the fact the Treasury has put most of the debt into short-term “bills” and mid-term “notes”—on which it can pay lower interest rates—rather than into long-term bonds, which demand significantly higher interest rates.
At the end of October, according to the Treasury’s Monthly Statement of the Public Debt, the total debt of the federal government was $17,937,160,000,000.
Of this, $5,080,104,000,000 was what the Treasury calls “intragovernmental” debt, which is money the Treasury has borrowed and spent out of trust funds theoretically set aside for other purposes—such as the Social Security Trust Fund.
The remaining $12,857,056,000,000 was “debt held by the public.” This part of the debt included $517,029,000,000 “nonmarketable” Treasury securities (such as savings bonds) and $12,340,028,000,000 in “marketable” Treasury securities, including bills, notes, bonds and Treasuring Inflation-Protected Securities.
But only $1,547,073,000,000 of the $12,857,056,000,000 in marketable debt was in long-term Treasury bonds that mature in 30 years. These bonds carried an average interest rate of 4.919 percent as of the end of October, according to the Treasury.
The largest share of the marketable debt–$8,192,466,000,000—was in notes that mature in 2,3,5,7 or 10 years, and which haf an average interest rate of 1.807 percent as of the end of October.
Another $1,412,388,000,000 of the marketable debt was in Treasury bills, which carry “maturities ranging from a few days to 52 weeks,” says the Treasury. These $1.4 trillion in short-term Treasury bills had an average interest rate of 0.056 percent as of the end of October, according to the Treasury.
The continual rolling over of these short-term, low-interest bills helped drive over the $1-trillion mark the new debt the Treasury had to issue in the first eight weeks of this fiscal year.
The Treasury has taken out what amounts to an adjustable-rate mortgage on our ever-growing national debt.
If the Treasury were forced to convert the $1.4 trillion in short-term bills (on which it now pays an average interest rate of 0.056 percent) into 30-year bonds at the average rate it is now paying on such bonds (4.919 percent) the interest on that $1.4 trillion in debt would increase 88-fold.
So with the 119 tonnes of gold withdrawn so far in 2014, it is now abundantly clear that the “logistical complications” excuse used by Germany to halt its own gold repatriation program was nothing but a lie to cover up what, as Deutsche Bank explained earlier this month, was an escalation of “diplomatic difficulties” between the US and Germany, one in which Germany has folded, if only for now.
“Investors will not pay any taxes. Moreover, they will be getting significant support from Turkey, Germany and the US,” said Sekeroglu.
Exported products from the zone will not be subject to taxes or quotas to various countries, including the US, Germany, France, and Saudi Arabia, he said, adding, “the businesses will be insured by the World Bank, too.”
Science, Industry and Technology Minister Fikri Isik and PA Deputy Prime Minister and National Economy Minister, Muhammad Mustafa signed the memorandum.
TOBB-BIS is going to construct the industrial zone with support from the German government.
It is scheduled to be completed in 2015
Pope Francis condemned the “barbaric violence” perpetrated against Christians and other minorities in Syria and Iraq on the first day of his visit to Turkey, a country on the front-line of the war against Islamist extremism.
Today, he will fly to Istanbul, where he will visit the Blue Mosque, Turkey’s most important place of Muslim worship.
The Pope has received a subdued reception in Turkey, where around 98pc of the population of 76 million is Muslim.
Germany’s international broadcaster Deutsche Welle (DW) published a video report of immense implications – possibly the first national broadcaster in the West to admit that the so-called “Islamic State” (ISIS) is supplied not by “black market oil” or “hostage ransoms” but billions of dollars worth of supplies carried into Syria across NATO member Turkey’s borders via hundreds of trucks a day.
The report titled, “‘IS’ supply channels through Turkey,” confirms what has been reported by geopolitical analysts since at least as early as 2011 – that NATO member Turkey has allowed a torrent in supplies, fighters, and weapons to cross its borders unopposed to resupply ISIS positions inside of Syria.
With the documented conspiracy of the US and its allies to create a sectarian mercenary force aligned to Al Qaeda, the so-called “moderate rebels” the US has openly backed in Syria now fully revealed as sectarian extremists, and now with DW documenting a torrent of supplies originating in Turkey, it is clear that the ISIS menace NATO poses as the solution to, was in fact NATO all along. What is revealed is a foreign policy so staggeringly insidious, few are able to believe it, even with international broadcasters like DW showing ISIS’ supply lines leading from NATO territory itself.
CANON Andrew White recounts the story of Iraqi Christian children who when told by ISIS militants to convert to Islam or be killed, they said ‘No, We Love Yeshua (Jesus).’
F ew people understand or have seen the persecution of Christians in the Middle East like Canon Andrew White, who has been in the eye of the storm.
White oversees St. George’s Church in Baghdad. His ministry, The Foundation for the Relief and Reconciliation in the Middle East offers comfort and humanitarian supplies to many of the Christians devastated by the march of ISIS throughout Iraq and Syria.
The Russian Navy on Friday successfully test-fired a new intercontinental ballistic missile for a second time in as many months, proving its reliability following a troublesome development.
The Defense Ministry said the Alexander Nevsky nuclear submarine test-fired a Bulava missile from an underwater position in the Barents Sea. The missile’s warheads reached designated targets at a testing range in Russia’s far eastern Kamchatka Peninsula.
Mr Putin’s grand plan was reportedly outlined in a supposedly classified document titled “Putin: the new leader of international conservatism.” The blueprint was drafted by Moscow’s Centre for Strategic Communications.
“In Europe Putin dreams – and he has said this publicly – of having a sphere of influence across the continent all the way down to Portugal,” the newspaper BILD reported as quoted by the Express. According to BILD, Mr Putin’s strategy involves wooing different far-right political parties across Europe to support Kremlin’s political influence within the European Union.
Mr Putin had also reportedly met with right-wing parties in Vienna in May, including political parties in Bulgaria, Austria and France. However, his main focus was allegedly set to Germany’s only “mildly-eurosceptic party,” Alternative for Germany or AFD, to get its vote in March against another looming western sanction.
Russian President Vladimir Putin’s annexation of Crimea has found supporters in an unlikely country: A November 23 opinion poll in Germany found that nearly 40 per cent of the country’s population accept the move.
The surprising result has stirred debate in Germany, prompting some to ask: Is Germany Russia’s closest ally in the West?