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Turkey Has Declared War On Syria – Does This Mean That World War 3 Is About To Erupt In The Middle East?

fighter-jet-silhouette-public-domainTurkish President Recep Tayyip Erdogan has just announced that the only reason Turkish military forces have entered northern Syria is to “end the rule of the tyrant al-Assad”.  By publicly proclaiming that Turkey intends to use military force to overthrow the regime of Syrian President Bashar al-Assad, Erdogan has essentially declared war on the Syrian government.  Of course this puts a member of NATO in direct military conflict with Russia, since Russia is working very hard to prop up the Assad regime.  If all-out war breaks out between Turkey and Russia, could that be the spark that causes World War 3 to erupt in the Middle East?  And once Turkey and Russia start fighting, would the United States and the rest of NATO be dragged into the conflict?

The big mainstream news networks in the western world are almost completely ignoring what Erdogan said on Tuesday, but without a doubt this is major news.  The following comes from a Turkish news source

The Turkish military launched its operations in Syria to end the rule of Syrian President Bashar al-Assad, President Recep Tayyip Erdoğan said Nov. 29.

“In my estimation, nearly 1 million people have died in Syria. These deaths are still continuing without exception for children, women and men. Where is the United Nations? What is it doing? Is it in Iraq? No. We preached patience but could not endure in the end and had to enter Syria together with the Free Syrian Army [FSA],” Erdoğan said at the first Inter-Parliamentary Jerusalem Platform Symposium in Istanbul.

Turkish military forces initially invaded northern Syria on August 24th, and at the time we were all told that the purpose of the invasion was to “fight ISIS”, but now Erdogan is telling us something completely different.

Breitbart is one of the few U.S. news outlets that is reporting on this story, and I want you to read the following quotes from Erdogan that come from a Breitbart article that was posted on Tuesday very, very carefully…

“Why did we enter? We do not have an eye on Syrian soil. The issue is to provide lands to their real owners. That is to say we are there for the establishment of justice. We entered there to end the rule of the tyrant al-Assad who terrorizes with state terror,” Erdogan continued, insisting his forces were not in Syria for “any other reason.”

The Daily Sabah notes that Erdogan spoke with Russian President Vladimir Putin about Syria during two telephone calls last week. Since Russia launched a massive military operation to secure Bashar Assad in power, Putin would presumably have been interested in anything Erdogan had to say about toppling the regime in Damascus, and probably would not have kept quiet about it.

If the Turkish military is only in Syria to end the Assad regime, then presumably they will stay there until the job is done.

And this puts Turkey into a direct military conflict with Russia, Iran and Hezbollah since all three of them are already fighting very hard to help the Assad regime.

Of course there is another reason why Turkey is in northern Syria, and that is to fight the Kurds.  In fact, the Kurds and Turkey are both rushing to capture a little city northeast of Aleppo called al-Bab which is currently controlled by the Islamic State

Their immediate challenge is securing al-Bab, an Islamic State-held city northeast of Aleppo which Kurdish-led fighters are racing to take, and which lies close to the front lines of Assad’s allies.

Turkish-backed forces have made rapid gains since August, but largely through less heavily populated areas. Urban warfare around al-Bab is already taking a heavier toll. Five Turkish soldiers have been killed in the past week alone, three of them in a suspected Syrian government air strike.

“Right now the question is whether Russia will allow Turkey to seize al-Bab,” said the Muntasir Billah Brigade official.

But most people in the western world don’t know that Turkish soldiers are already dying in Syria.

Here in the United States, tens of millions of Americans are hailing a new era of “peace and prosperity” now that Donald Trump has won the election, but the truth is that one false move in Syria could easily raise tensions between the United States and Russia to the highest level that we have seen since the Cuban missile crisis back in the 1960s.

If Erdogan would have just stayed out of Syria we wouldn’t be in such a precarious situation.  Unfortunately, the president of Turkey is a narcissistic lunatic, and he dreams of a day when the old Ottoman Empire will once again be restored.

But his delusions of greatness threaten to make the Middle East even more unstable than it already has been.  In addition to his remarks above, on Tuesday Erdogan also called on all Muslims globally “to embrace the Palestinian cause and protect Jerusalem”

Turkish President Recep Tayyip Erdogan has urged Muslims to defend the Palestinian cause, striking a tough stance on Israel despite improved ties between the two nations.

The president of majority Muslim Turkey said Tuesday that “it is the common duty of all Muslims to embrace the Palestinian cause and protect Jerusalem” and that safeguarding the Al-Aqsa Mosque should not be left to children armed with nothing but stones. Located in the Old City of Jerusalem, the hilltop compound is sacred to Muslims and Jews.

Most people in the western world pay very little attention to Erdogan, but the truth is that he is a madman that is often referred to as “Turkey’s version of Adolf Hitler”.  He is extremely ambitious, extremely nationalistic, and he is a warmonger.  That is a very dangerous combination, and I believe that it is only a matter of time before he starts a major war in the Middle East.

Somebody needs to get this guy under control, but unfortunately the Obama administration has been very hesitant to confront Erdogan about his outrageous behavior.

When Erdogan openly stated that the Turkish military is in Syria to overthrow the Assad regime on Tuesday, that was like lighting a match in a room that has already been doused with propane.

He needs to immediately retract those comments, because his unique brand of lunacy has now brought us dangerously close to the start of World War 3.

11 Quotes That Show How Worried The Financial World Is About Europe Right Now

The recent elections in France and in Greece have thrown the global financial system into an uproar.  Fear and worry are everywhere and nobody is quite sure what is going to happen next.  All of the financial deals that Greece has made over the past few years may be null and void.  Nobody is going to know for sure until a new government is formed, and at this point it looks like that is not going to happen and that there will need to be new elections in June.  All of the financial deals that France has made over the past few years may be null and void as well.  New French President Francois Hollande seems determined to take France on a path away from austerity.  But can France really afford to keep spending money that it does not have?  France has already lost its AAA credit rating and French bond yields have started to move up toward dangerous territory.  And Greek politicians are delusional if they think they have any other choice other than austerity.  Without European bailout money (which they won’t get if they don’t honor their current agreements), nobody is going to want to lend Greece a dime.

And all of this talk about “austerity” is kind of silly anyway.  It isn’t as if either France or Greece was going to have a balanced budget any time soon.  Both nations were still running up huge amounts of debt even under the “austerity” budgets.

But the citizens of both nations have sent a clear message that they are not going to tolerate even a slowdown in government spending.  They want to go back to the debt-fueled prosperity of the last several decades, even if it makes their long-term financial problems a lot worse.

Unfortunately, as I mentioned earlier, Greece does not have that option.  Without the bailout money that they are scheduled to get, Greece does not have a prayer of avoiding a disorderly default.  Private investors would have to be insane to lend Greece money if the bailout deal falls apart.  Greece desperately needs the help of the EU, the ECB and the IMF and the only way they are going to get it is if they abide by the terms of the agreements that have already been reached.

The only way that Greece can avoid austerity at this point would be to leave the euro.  Nobody would want to lend money to Greece under that scenario either, but Greece could choose to print huge amounts of their own national currency if they wanted to.

The situation is different in France.  Investors are still willing to lend to France at reasonable interest rates, but if France chooses to run up huge amounts of additional debt at some point they will end up just like Greece.

What is even more important in the short-term is the crumbling of the French/German alliance on European fiscal matters.  Angela Merkel and Nicolas Sarkozy were a united front, but now Merkel and Hollande are likely to have conflict after conflict.

Instead of moving in one clear direction, the eurozone is now fractured and tensions are rising.

So what comes next?

Well, investors are not certain what comes next and that has many of them deeply concerned.

The following are 11 quotes that show how worried the financial world is about Europe right now….

#1 Tres Knippa of Kenai Capital Management: “What is going on in Europe is an absolute disaster…the risk-on trade is not the place to be. I want to be out of equities and very, very defensive because the situation in Europe just got worse after those elections.”

#2 Mark McCormick, currency strategist at Brown Brothers Harriman: “We’re going to have higher tensions, more uncertainty and most likely a weaker euro.”

#3 Nick Stamenkovic, investment strategist at RIA Capital Markets in Edinburgh: “Investors are questioning whether Greece will be a part of the single currency at the end of this year.”

#4 Jörg Asmussen, a European Central Bank executive board member: “Greece needs to be aware that there is no alternative to the agreed reform program if it wants to remain a member of the eurozone”

#5 Tristan Cooper, sovereign debt analyst at Fidelity Worldwide Investment: “A Greek eurozone exit is on the cards although the probability and timing of such an event is uncertain.”

#6 Art Cashin: “Here’s the outlook on Greece from Wall Street watering holes. If a coalition government is formed or looks to be formed, global markets may rally. Any coalition is unlikely to make progress on goals, since austerity is political suicide. There will likely be another election around June 10/17. A workable majority/plurality remains unlikely, so back to square one. Therefore, Greece will be unable to attain goals by the deadline (June 30). Lacking aid funds, pensions are suspended and government workers are laid off. Protestors take to the streets and government is forced to revert to drachma to avoid social chaos. Pass the peanuts, please.”

#7 John Noonan, Senior Forex Analyst with Thomson Reuters in Sydney: “Sentiment is very bearish, The euro is under a lot of pressure right now. I get the feeling that it’s going to be a nasty move lower for the euro finally”

#8 Kenneth S. Rogoff, a professor of economics at Harvard: “A Greek exit would underscore that there’s no realistic long-term plan for Europe, and it would lead to a chaotic endgame for the rest of the euro zone.”

#9 Chris Tinker of Libra Investment Services: “It’s a binary decision. If Greece gets itself to the point where the European administration says, ‘We can’t play this game anymore,’ that starts a domino effect”

#10 Nicolas Véron, a senior fellow at Bruegel: “France has very limited fiscal space and actually has to engage in fiscal consolidation”

#11 80-year-old Greek citizen Panagiota Makri: “I’m confused. I feel numb and confused. Only God can save us now”

All of this comes at a time when much of Europe is already descending into a new recession.  Economies all over Europe are contracting and unemployment rates are skyrocketing.  Until things start improving, there is going to continue to be a lot of civil unrest across Europe.

Meanwhile, things are not so great in the United States either.

JPMorgan Chase CEO Jamie Dimon claims that the U.S. economy is holding a “royal straight flush“, but the only part of that he got right was the “flush” part.

There are 100 million working age Americans that do not have jobs, the middle class continues to shrink, the rising cost of food and the rising cost of gas are severely stretching the budgets of millions of American families and the federal government continues to run up gigantic amounts of debt.

When Europe descends into financial chaos, the United States is not going to escape it.  The financial crisis of 2008 deeply affected the entire globe, and so will the next great financial crisis.

Let us hope that we still have a little bit more time before the next great financial crisis strikes, but things in Europe are rapidly unraveling and at some point the dominoes are going to begin to fall.

The Number One Catastrophic Event That Americans Worry About: Economic Collapse

Can you guess what the number one catastrophic event that Americans worry about is?  There are certainly many to choose from.  Many Americans are deathly afraid of a major terrorist attack.  Others live in constant fear of natural disasters such as earthquakes, volcanoes and hurricanes.  Still others are incredibly concerned that a massive pandemic will break out at any time or that World War III will erupt in the Middle East.  Yes, there are certainly a lot of potential catastrophic events that one can worry about in the times in which we live, but the number one catastrophic event that Americans worry about is actually “economic collapse”.  At least that is what a recent survey conducted by Leiflin Inc. for the EcoHealth Alliance found.  But this goes along with what so many other polls have found over the past few years.  Over and over again, opinion polls have found that the number one issue that American voters are concerned about is the economy.  The truth is that average Americans are deeply, deeply concerned about unemployment, debt, the housing crash and the steady decline in the standard of living.  It has been years since the U.S. economy has operated at a “normal” level, and many Americans are afraid that things could soon get a whole lot worse.

In the new survey mentioned above, those contacted were asked to select the top three potential catastrophes that worry them the most.

The following results come directly from the survey….

Economic Collapse: 63%
Natural Disaster: 46%
Terrorist Attack: 44%
Global Disease Outbreak: 33%
Global War: 27%
Nuclear Accident: 25%
Global Warming: 22%
Fuel Shortage: 15%
Cyber War: 8%
Famine: 8%
Oil Spill: 6%
Industrial Accident: 5%

As you can see, “economic collapse” was the winner by a wide margin.

So are there good reasons for the American people to be concerned about an economic collapse?

Of course there are.

Back in 2008, a financial crisis that began on Wall Street was felt in the farthest corners of the globe.

This time, ground zero for the financial crisis is going to be in Europe.  As I have written about previously, the European financial system is rapidly coming apart at the seams.  The euro continues to drop like a rock, and banking stocks continue their long-term decline.

Many people expect a “financial collapse” to happen on a particular day.  But that is not how it happens usually.  Instead, it is often like a snowball that starts rolling downhill very slowly at first but that eventually become a huge avalanche.

Right now, we are seeing the financial world come apart in slow motion.  A recent article posted on Automatic Earth included a list of the year-to-date performance of some of the most prominent global banking stocks.  These numbers are absolutely staggering….

  • BofA: -60.38%
  • Citi: -44.76%
  • Goldman Sachs: -46.41%
  • JPMorgan: -23.03%
  • Morgan Stanley: -45.24%
  • RBS: -50%
  • Barclays: -34.32%
  • Lloyds: -63.02%
  • UBS: -29.33%
  • Deutsche Bank: -28,55%
  • Crédit Agricole: -56.04%
  • BNP Paribas: -37.67%
  • Société Générale: -59.57%

But because these numbers happened over the course of a year and not on a single day it doesn’t feel quite as much like a “collapse”.

Unfortunately, things are about to get a whole lot worse.  Global credit markets are really freezing up – especially in Europe.

Considering the fact that the entire global financial system is based on credit and debt, that is a very bad thing.

Our system simply does not work when banks do not want to lend money to each other or to businesses.

Just yesterday there was an article in the Guardian that talked about how it looks like the credit crunch may be getting even worse….

“If European banks are still this concerned, it’s not a good sign,” said Karl Schamotta, senior markets strategist with Western Union Business Solutions. “That underlines the possibility that this liquidity crunch is getting worse and will continue into the new year.”

When banks cut back on lending, that causes the money supply to shrink.  When the money supply shrinks substantially, it is almost impossible to avoid a recession.  A recent article by Ambrose Evans-Pritchard detailed how the money supply in many eurozone nations is shrinking at a very rapid pace right now….

Simon Ward from Henderson Global Investors said “narrow” M1 money – which includes cash and overnight deposits, and signals short-term spending plans – shows an alarming split between North and South.

While real M1 deposits are still holding up in the German bloc, the rate of fall over the last six months (annualised) has been 20.7pc in Greece, 16.3pc in Portugal, 11.8pc in Ireland, and 8.1pc in Spain, and 6.7pc in Italy. The pace of decline in Italy has been accelerating, partly due to capital flight. “This rate of contraction is greater than in early 2008 and implies an even deeper recession, both for Italy and the whole periphery,” said Mr Ward.

Those are very, very frightening numbers.

About the only thing propping up European banks right now is the fact that the European Central Bank is loaning them gigantic piles of cheap money.

But there is a big problem.

European banks are running out of collateral for those loans as an article in the Wall Street Journal recently noted….

Even after the European Central Bank doled out nearly half a trillion euros of loans to cash-strapped banks last week, fears about potential financial problems are still stalking the sector. One big reason: concerns about collateral.

The only way European banks can now convince anyone—institutional investors, fellow banks or the ECB—to lend them money is if they pledge high-quality assets as collateral.

Now some regulators and bankers are becoming nervous that some lenders’ supplies of such assets, which include European government bonds and investment-grade non-government debt, are running low.

So what happens when banks all over Europe start running out of collateral and can’t get any more loans?

The answer should be obvious.

As I detailed a few days ago, many prominent voices in the financial world now believe that we could be looking at a financial crisis that will be even worse than 2008.

If you want to see what happens when a collapse happens and a depression begins, just look at what is happening in Greece….

*100,000 businesses have been closed since the beginning of the crisis.

*About a third of the nation is now living in poverty.

*The unemployment rate for those under the age of 24 is 39 percent.

*The number of suicides has increased by 40 percent in the past year.

*Thefts and burglaries nearly doubled between 2007 and 2009.

Things have gotten so bad that hundreds of families in Greece are abandoning their children.

Some are taking their children to charitable institutions and others are handing them directly over to the government.

The following sad story of one Greek family comes from an article in the Guardian….

“Psychologically we were all in a bit of a mess,” said Gasparinatos. “We were sleeping on mattresses on the floor, the rent hadn’t been paid for months, something had to be done.”

And so, with Christmas approaching, the 42-year-old took the decision to put in an official request for three of his boys and one daughter to be taken into care.

“The crisis had killed us. I am ashamed to say but it had got to the point where I couldn’t even afford the €2 needed to buy bread,” he told the Guardian. “We didn’t want to break up the family but we did think it would be easier for them if four of my children were sent to an institution for maybe two or three years.”

Does that seem shocking to you?

Well, all of this is coming to America eventually.

Someday we will see American parents abandoning their children because they cannot take care of them anymore.

Someday we will see suicides absolutely skyrocket in America because people have lost all hope.

Someday we will see thefts and burglaries soar to unprecedented heights as millions of desperate people attempt to try to find some way to survive.

It is all coming.

The federal government cannot pile up a trillion dollars of additional debt every year indefinitely.

We cannot afford to see an average of 23 manufacturing facilities a day in the United States shut down.  Eventually there won’t be anymore factories to shut down.

We cannot afford to keep putting millions more Americans on welfare.  At this point the government is feeding 46 million Americans a month.  Will the government eventually be feeding most of us?

The U.S. economy is getting weaker and weaker and weaker.  All of the long-term trends are absolutely nightmarish.  We are accumulating debt faster than ever, and our ability to produce wealth is diminishing faster than ever.

There is no way that things are going to be okay if we stay on the path that we are currently on.

So the truth is that Americans should be very concerned about an economic collapse.

It is coming and it is going to be very painful.

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