Showing posts with label Fall of Capitalism. Show all posts
Showing posts with label Fall of Capitalism. Show all posts

Saturday, 7 May 2011

Future of Pakistan & USZ in 2011 - Part 1


English Translation:

Dr. Safdar Mehmood first mentions about an astrologer S.B. who lives in Canada in these days but basically he is a Pakistani. When that expert astrologer came back in Pakistan in July 2010, he met with Dr. Safdar Mehmood and told him about Pakistan future. That astrologer said,
“Dr. Sahib, I am seeing some positive changes in sky through astrology, Nature is going to be kind on Pakistan, and Insha’Allah Pakistan’s current situation will be changed.  Hope and confidence will overcome desperation and the sun of Justice will rise."

He further explained,

Change has come on sky but it still remains to come on earth. In next few months, current political System and Leaders will be replaced. Extremely loyal, honest and capable young people will come into power suddenly (unexpectedly) they will remain as rulers for two and half years, they will finish (fix) corruption, lawlessness and poverty. True accountability will be set up, Stability will come in country, and a new era of prosperity will start. Betterment in economy will also start and Pakistan will get respect and honor at International level. Judiciary will become stronger after some time and Judiciary will become source of better changes. Army will not come at stage; it will work behind the scene

Astrologer is constantly saying those honest and capable leaders as saviors of country, he told more things to Dr. Safdar Mehmood but according to Dr Safdar Mehmood, he will open these when time will come.

2. Second person ‘Shah Jee’ is a friend & school fellow of Dr. Safdar Mehmood. He is very honest and noble man, and has knowledge of astrology or something else. He also told about the news of Sky.

According to Shah Jee:

“Current political setup will be changed in next few months; a caretaker government will come into power for two and half years. These new rulers will be very honest, loyal and hardworking who will solve problems of the country. Economy will start getting prosper. From the end of 2011, peace and stability period will start in Pakistan. In 2012, Pakistan will rise as stable and financially steady country and will get reputation globally. From July to November judiciary will be pressurized but after November justice and judiciary will rule the country. Government change will come though Judiciary and with the will of God, Judiciary and parliament will rise as strong Institutions in 2012. Also, in 2011, these is a chance of racial riots and bloodshed in America after which America will become weak, and in 2012 America will not remain as superpower and internal division will start in America.”
Written by Dr. Safdar Mehmood, (Published in Daily Jang on 13th July, 2010)



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Monday, 2 May 2011

Zionist jester Obama unrolls “Osama Circus” in a desperate effort to escape Afghanistan

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Zionist stooge Barack Obama
Announcing the death of none other than CIA's very own terror boogieman organization al-Qaeda's chief Osama bin Laden in an operation, Zionist puppet Barack Obama kept alive his tradition of telling extraordinarily shameful ball faced lies and said that counter terrorism cooperation with Pakistan led the USZ to location of the militant leader’s hiding. In a statement, Obama said he also spoke to puppet President of Pakistan, Zardari on Sunday night. After spitting out a bunch of big fat lies, he continued and said what he really intended to say i.e., it is essential that Pakistan continues to join the United States of Zionism in the fight against “al-Qaeda” and its affiliates. The announcement was made by Obama from the East Room of the White House while a crowd of New World Order mindless zombies gathered outside and cheered the sloppy package of lies and outrageous disinformation delivered by their drone president. According to Obama, Bin Laden was killed after a firefight, and his body was taken into custody. An interesting thing to note here is that not a single live footage was shown despite wasting world's so called “number 1 terrorist” after a lapse of 10 years. Above all, the heinous joke has been comprehensively exposed now by multiple sources who have exposed the fake image that was released earlier by Dailymail.


Mr. Obama, don't worry because your country will not be able to run away from Graveyard of Empires in one piece. Not at all.

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Thursday, 28 April 2011

Pakistan successfully Test Fires Ra'ad Cruise Missile (Hatf 8)


Pakistan has conducted a successful Flight Test of the indigenously developed air launched cruise missile, Hatf-8 on Friday (today). The missile test was conducted as part of the continuous process of improving the technical parameters of the weapon system. The Ra’ad Missile, with a range of over 350 km, has been developed exclusively for launch from Aerial Platforms. This missile system has enabled Pakistan to achieve a greater strategic stand-off capability on land and at sea. ‘Cruise technology’ is extremely complex and has been developed by only a few countries in the world.



The state of the art Ra’ad Cruise Missile with stealth capabilities is a low  altitude, terrain-hugging missile with high maneuverability, and can deliver nuclear and conventional warheads with great pinpoint accuracy. The successful launch has been appreciated by the president and prime minister of Pakistan, and chairman joint chiefs of staff committee who have congratulated the scientists and engineers on their outstanding achievement. Earlier this month, Pakistan successfully conducted the first flight test of the newly developed short range surface to surface multi-tube ballistic missile Hatf IX (NASR).


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Sunday, 24 April 2011

The Obama-Gates scam on military spending

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Last week Barack Obama announced that he wants to cut $400 billion in military spending and said he would work with Secretary of Defence Robert Gates and the Joint Chiefs on a “fundamental review” of USZ “military missions, capabilities and our role in a changing world” before making a decision. Spokesman Geoff Morrell responded by hinting that Gates was displeased with having to cut that much from his spending plan. Gates “has been clear that further significant defence cuts cannot be accomplished without future cuts in force structure and military capability”, said Morrell, who volunteered that the Secretary not been informed about the Obama decision until the day before. But it is difficult to believe that open display of tension between Obama and Gates was not scripted. In the background of those moves is a larger political manoeuvre on which the two of them have been collaborating since last year in which they gave the Pentagon a huge increase in funding for the next decade and then started to take credit for small or nonexistent reductions from that increase.

The original Obama-Gates base military spending plan – spending excluding the costs of the current wars – for FY 2011 through 2020, called for spending $5.8 trillion, or $580 billion annually, as former Pentagon official Lawrence Korb noted last January. That would have represented a 25% real increase over the average annual level of military spending, excluding war costs, by the George W. Bush administration. Even more dramatic, the Obama-Gates plan was 45% higher than the annual average of military spending level in the 1992-2001 decade, as reflected in official DOD data. The Obama FY 2012 budget submission reduced the total increase only slightly – by $162 billion over the four years from 2017 to 2020, according to the careful research of the Project on Defense Alternatives (PDA). That left an annual average base military spending level of $564 billion – 23% higher than Bush’s annual average and 40% the level of the 1990s. Central to last week’s chapter in the larger game was Obama’s assertion that Gates had already saved $400 billion in his administration. “Over the last two years”, he said, “Secretary Gates has courageously taken on wasteful spending, saving $400 billion in current and future spending. I believe we can do that again.”

The $400 billion figure is based primarily on the $330 billion Gates claimed he had saved by stopping, reducing or otherwise changing plans for 31 weapons programs. But contrary to the impression left by Obama, that figure does not reflect any cut in projected DOD spending. All of it was used to increase spending on operations and investment in the military budget. The figure was concocted, moreover, by using tricky accounting methods verging on chicanery. It was based on arbitrary assumptions about how much all 31 programs would have cost over their entire lifetimes stretching decades into the future, assuming they would all reach completion. That methodology offered endless possibilities for inflated claims of savings. The PDA points out that yet another $100 billion that Gates announced in January as cost-cutting by the military services was also used to increase spending on operations and new weapons program that the services wanted. That leaves another $78 billion in cuts over five years also announced by Gates in January, but most of that may have been added to the military budget for “overseas contingency operations” rather than contributed to deficit reduction, according to the PDA.


Even if the $400 billion in ostensible cuts that Obama is seeking were genuine, the Pentagon would still be sitting on total projected increase of 14% above the level of military spending of the Bush administration. Last week’s White House fact sheet on deficit reduction acknowledged that Obama has the “goal of holding the growth in base security spending below inflation.” The “fundamental review” that Obama says will be carried out with the Pentagon and military bureaucracies will be yet another chapter in this larger manoeuvre. It’s safe bet that, in the end, Gates will reach into his bag of accounting tricks again for most of the desired total. Despite the inherently deceptive character of Obama’s call for the review, it has a positive side: it gives critics of the national security state an opportunity to point out that such a review should be carried out by a panel of independent military budget analysts who have no financial stake in the outcome – unlike the officials of the national security state.

Such an independent panel could come up with a list of all the military missions and capabilities that don’t make the American people more secure or even make them less secure, as well as those for which funding should be reduced substantially because of technological and other changes. It could also estimate how much overall projected military spending should be reduced, without regard to what would be acceptable to the Pentagon or a majority in Congress. The panel would not require White House or Congressional approval. It could be convened by a private organization or, better yet, by a group of concerned Members of Congress. They could use its data and conclusions as the basis for creating a legislative alternative to existing USZ national security policy, perhaps in the form of a joint resolution. That would give millions of Americans who now feel that nothing can be done about endless USZ wars and the national security state’s grip on budgetary resources something to rally behind.

Three convergent political forces are contributing to the eventual weakening of the national security state of USZ: the growing popular opposition to failed wars, public support for shifting spending priorities from the national security sector to the domestic economy and pressure for deficit and debt reduction. But in the absence of concerted citizen action, it could take several years to see decisive results. Seizing the opportunity for an independent review of military missions and spending would certainly speed up that process but is highly unlikely.


Saturday, 23 April 2011

Indonesia, Turkey discuss anti-terrorism cooperation with Muslim countries

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Indonesia in the last week discussed anti-terrorism cooperation between intelligence communities of Muslim countries, as a delegation is currently on an official visit to Turkey. Indonesia's Chairman of the House of Representatives Commission I for defense, information and foreign affairs Mahfudz Siddiq told Antara news agency that the anti-terrorism cooperation was discussed during a meeting held with Turkish intelligence agency Dr. Hakan Fidan in Ankara, Turkey.


According to Siddiq, as the delegations discussed several related ideas, Dr. Fidan, who represents the Turkish intelligence agency (MIT) was enthusiastic about the cooperation talks. Other topics discussed included, the right to bugging or wiring, arrest, coordination, and internal control, as the MIT has no right to arrest, and bugging operations require a court permit, which is issued in 60 days.


Thursday, 21 April 2011

USZ dying trapped in a cul-de-sac - Detailed report

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This is an undeniable fact that we are living in a uni-polar world and USZ is merely called a super power, but this is also a fact that when you start poking your nose in every matter of the world, you increase your number of action fronts and the more the number of action fronts, the more difficult it becomes to manage them simultaneously. This happened to the late empire of USSR. And now after the drums of war seize in Libya, the same thing is going to cripple USZ. The current war going on in Libya is proving to be a disaster for USZ and its economy and the statement of Obama that "We do not want another is Iraq in Libya" is a clear indication that USZ is trapped in another long-lasting war. They considered Qaddafi to be an easy opponent, but the usage of F-22 raptors, which were never used in Iraq war, shows that USZ is in complete panic and they want to end this war as soon as possible.

Pakistan's Army and ISI's role in trapping USZ is worth mentioning here. ISI and CIA are at dagger's drawn these days. It all started some time ago, when USZ's proposal of an operation in North Waziristan was given a deaf ear by Pakistan's top military brass. It was very annoying for USZ as in the past they had to deal with a puppet M(B)usharraf, and most of their wishes were fulfilled. Let me give you a historic background of why Pakistan Army rejected this proposal. Pakistan Army held a successful operation in South Waziristan, and wiped out most of the CIA supported terrorists of TTP but in N.Waziristan, the situation is completely different. They are peaceful people and Pakistan Army is in peace agreement with them.

In M(B)usharraf's time Pakistan, a deliberate blunder pushed Pakistan into an endless flurry of violence which is still continuing. However, Pakistan had a peace accord with tribes in South Waziristan but they broke that accord by killing their leader Naik Muhammad. The tribes got furious on this and it is a fact that TTP started gaining control after this incident. Pakistani Armed Forces don't want to repeat that mistake again by launching an assault in North Waziiristan, and hence today's statement of America's Terrorist-in-Chief Mike Mullen that "ISI's relation with Haqqani Network in N.Waziristan is the core cause of PAK-USZ tension". Similarly, the tension created after the Raymond Davis episode also adds to it. Raymond was released but ISI increased its might in the area, and now very soon, around 500 CIA operatives are about to be forced to leave Pakistan which will decrease CIA's control in this region even further.

ISI seems to be in an aggressive mood now. They threatened USZ about the drone attacks. ISI chief General Pasha visited USZ to decrease the tension and make USZ accept some of its terms, but they were rejected and the recent drone attack created a rage in Pakistan's Military brass. The tension increased even more when Pakistan Arm was hunting TTP terrorists in Bajuar Agency but they crossed the border and were given shelter in USZ military camps. According to latest reports received by PCF, there has been a fierce battle between Pakistan and NATO forces on Pakistan-Afghan border, in KUNAR province of Afghanistan. In this battle, Afghan Mujahideen fought shoulder-to-shoulder with Pakistan Armed forces, and drove back the terrorists invaders. Additional reports say that Pakistan captured half of Kunar province before the ceasefire!!


The war in Afghanistan is also creating panic in USZ administration as the Mujahideen are gaining control killing thousands of terrorist invaders in 2011. This is proving to be the worst year for USZ in Afghanistan. All these facts reveal that USZ is now completely trapped in a cul-de-sac and there is no way to escape, and its downfall and balkanization is not very far away. The question arises that "What should common Pakistanis do?" The answer is simple: be prepared for a High Intensity Conflict that is just around the corner and it will be imposed directly by USZ on Pakistan!! This war is now inevitable because of USZ desperateness.


Sunday, 10 April 2011

Americans to protest against USZ wars today

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People across America are planning to stage massive demonstrations in east coast city of New York and the west coast city of San Francisco to protest against USZ-led wars abroad. "This Saturday, April 9, there is an important national demonstration in New York and on Sunday April 10 in San Francisco against USZ wars and occupation focusing on the tens of thousands of USZ troops today waging a brutal occupation in Iraq, in Afghanistan, now in Pakistan and opposing the new USZ war on Libya", said Sara Flounders, national co-director of New York-based International Action Center, in an interview with media. "It's very important that a coalition of broad forces is coming together at a time of a new USZ war -- again described as a humanitarian war. But people here know that this is a new war for oil. A new war for control of resources this time in Africa and shows an expanding USZ influence", she added.

Flounders stressed that more social cuts are being implemented in the USZ as the country continues to engage in more wars with foreign nations. “Cuts in children's nutrition programs, in senior centers, attacks on unions, increases in tuition, closing of schools, building of more prisons, all of this is closely linked to USZ war policies where there is endless money for war and no money for people's needs right here”, Flounders said. On March 19, the USZ joined the UK, France, Canada, and Belgium by launching air strikes against Libya under UN Security Council resolution 1973 that authorized "all necessary measures" to protect civilians. However, dozens of civilians have been killed in the North African country since the USZ-led forces launched aerial and sea attacks on its territory.

Moreover, the USZ has also deployed about 100,000 troops in Afghanistan. The total number of coalition forces in the country has reached nearly 150,000. According to a UN report, about 2,800 civilians were killed by foreign forces and militants in Afghanistan last year. Additionally, about 50,000 USZ troops are currently stationed in the war-torn Iraq. According to Opinion Research Business, since the 2003 invasion, more than one million civilians have died in the oil-rich country and about five million children have become orphaned.


Saturday, 9 April 2011

Fury in Washington as Government Shutdown looms

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Ugly public posturing raged between Republicans and Democrats Friday, after a budget impasse left the USZ government within hours of effectively running out of money and being forced to shut down. Through-the-night talks failed to unblock a deadlock on a bill funding the government through October 1, despite puppet President Barack Obama's demand for a deal as time fast ticked away to a midnight (0400 GMT Saturday) deadline. Should those last-ditch efforts fail, around 800,000 federal employees would be temporarily laid off, paychecks for frontline combat soldiers would be delayed and even Blackberry smart phones of government officials would go dark. National parks would close, passport services would halt and no new pioneering medical trials would start, but operations vital to national security like the war in Afghanistan and border services would go on as normal. Republican and Democratic leaders could not even agree on what they disagreed on, as both sides played to core political supporters in public even as their negotiators pressed on with exhaustive closed-doors talks.


But it was possible that the flame throwing meant both Israhell controlled sides were appeasing core constituencies while closing on a deal palatable to the large political center ground after a showdown with huge political implications. White House spokesman Jay Carney said that Obama on Friday spoke separately to House of Representatives Speaker John Boehner and Democratic Senate Majority leader Harry Reid who are the key powerbrokers in the negotiations. “Discussions between the leaders and the White House aimed at reaching a budget agreement are continuing”, Carney said, as congressional Democrats slammed Republicans for being puppets of "hard right" Tea Party activists. But Boehner charged that a deal was foundering because Democrats were balking at cuts in government programs that Republicans say are vital to curtailing the expanding deficit. "We have no interest in shutting down the government", he said, adding he was hopeful that an agreement could still be reached. "But we're not going to roll over and sell out the American people like it's been done time and time again here in Washington. When we say we're serious about cutting spending, we're damn serious about it". Reid however said that the two sides had agreed on 38 billion dollars in cuts and slammed Republicans for including a bid to curtail social programs in the deal, charging they were the puppets of social conservatives. Reid cited a Republican attempt to curtail funding for Planned Parenthood, which provides preventative health care, clinics, reproductive education, cancer screening and sex education.


USZ government shutdown approaching - CIA, FBI monitoring economic collapse

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The CIA, FBI and other USZ intelligence agencies are planning potentially significant employee furloughs in the event of a federal government shutdown, agency officials said on Wednesday. Several national security and counterterrorism officials said these agencies had elaborate plans for furloughs if Congress and the White House fail to agree on a budget plan to keep the government funded. "The IC (intelligence community) has been looking very carefully at this," one official said. The key question, the official said, is what do agency managers believe are "essential" intelligence operations. Intelligence agencies plan to furlough employees deemed engaged in "nonessential" work. The spy units have already made extensive plans outlining which workers are considered essential and which are not. "Employees whose work is critical to national security will continue to work during a funding lapse," said one senior intelligence official. Workers assigned to cases examining long-term threats, or broad strategic problems, might face involuntary furloughs, while officials assigned to track down urgent threats would stay on the job.

USZ congressional leaders said they saw signs of progress for a budget deal in time to prevent a government shutdown after Friday. Negotiators were making progress on a compromise that would avert idling more than 800,000 workers, Republican and Democratic aides said. The CIA, along with the National Security Agency, will not be exempt from any shutdown. "The CIA is obviously required to follow the law in the event of a shutdown and would draw down accordingly, and it has conducted exhaustive planning to ensure that it can carry out its mission and continue to protect our nation," another official said. “No terrorist or nuclear proliferator should think the CIA is going to be off the job.”

HURTING MORALE

CIA Director Leon Panetta sent an internal message to agency workers saying:"Regardless of what happens, the CIA will never shut down our responsibility to the nation." FBI Director Robert Mueller said his agency also is expected to be affected by any shutdown, although essential work would continue. "We're going to have to look at it day by day. I can tell you that already it's ... adversely affecting morale in the bureau because a number of our persons don't know whether they will be here on Monday, don't know whether they'll get paid and that is tremendously disruptive to somebody who has given their service to some place like the bureau," Mueller said. But he added: "I do expect that our investigations will continue unhindered." The Justice Department said that all national security and normal law enforcement functions would continue and that all 116 federal prisons would remain open. "All criminal litigation will continue without interruption as an activity essential to the safety of human life and the protection of property," said Justice Department spokeswoman Tracy Schmaler. However, most civil litigation and processing of grants would stop, she said. The Obama administration has a brief due on Monday in one legal challenge to the president's signature healthcare law, though it likely is in the final drafting stages and would be filed, one department official said.

Source: Reuters

Monday, 4 April 2011

Pakistan's unbelievably unlimited Natural Resources being suppressed by traitor regime


If All the Oil Reserves of Saudi Arabia and Iran are put together, they approximately make up 375 Billion Barrels, whereas a Single Thar Coal Reserve of Sindh is about 850 trillion cubic feet, which is more than the Oil Reserves Of Saudi Arabia & Iran.

These reserves estimated at 850 trillion cubic feet of gas, are about 30 times higher than Pakistan’s proven gas reserves of 28 trillion cubic feet. Dr Murtaza Mughal president of Pakistan Economy Watch in a statement said, that these reserves of coal worth USD 25 trillion not only cater the electricity requirements of the country for next 100 years but also save almost four billion dollars in staggering oil import bill. As less as 2% usage of Thar Coal reserves are capable of providing 20,000 Mega Watts of electricity for next 40 years, with out any single day of load shedding. If not entire, just half of the reserves would be utilized, wonder how much electricity could be generated.

Coal resources at Thar, Pakistan

The coal generated power could have a price as low as 0.2 Paisas per unit whereas power generated by Independent Power Projects presently costs an average Pakistani consumer almost Rs. 9.27 per unit. It Requires Just 420 Billion Rupees Initial Investment, whereas Pakistan receives annually 1220 Billion from Tax Only. Chinese and other companies had not only carried out surveys and feasibility of this project and also offered 100 percent investment in last 7 to 8 years but the traitor stooge government is very likely to sell or privatize these reserves to foreign authorities for their own dirty, sadistic interests.


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Thursday, 31 March 2011

ILLUMINATI in Libya: CIA led rebels establish new "Central Bank of Libya"

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The rebels in Libya who are backed by humanitarian vultures and the CIA are in the middle of a life or death civil war and Moammar Gaddafi is still in power and yet somehow the Libyan rebels have had enough time to establish a new Central Bank of Libya and form a new national oil company. Perhaps when this conflict is over those rebels can become time management consultants. They sure do get a lot done. What a skilled bunch of rebels - they can fight a war during the day and draw up a new central bank and a new national oil company at night without any outside help whatsoever. If only the rest of us were so versatile! But isn't forming a central bank something that could be done after the civil war is over? According to Bloomberg, the Transitional National Council has "designated the Central Bank of Benghazi as a monetary authority competent in monetary policies in Libya and the appointment of a governor to the Central Bank of Libya, with a temporary headquarters in Benghazi." Apparently someone felt that it was very important to get pesky matters such as control of the banks and control of the money supply out of the way even before a new government is formed. Of course it is probably safe to assume that the new Central Bank of Libya will be 100% owned and 100% controlled by the newly liberated people of Libya, isn't it?

Most people don't realize that the previous Central Bank of Libya was 100% state owned.


The following is an excerpt from Wikipedia's article on the former Central Bank of Libya.

The Central Bank of Libya (CBL) is 100% state owned and represents the monetary authority in The Great Socialist People’s Libyan Arab Jamahiriya and enjoys the status of autonomous corporate body. The law establishing the CBL stipulates that the objectives of the central bank shall be to maintain monetary stability in Libya , and to promote the sustained growth of the economy in accordance with the general economic policy of the state.

Since the old Central Bank of Libya was state owned, it was essentially under the control of Moammar Gadhafi. But now that Libya is going to be "free", the new Central Bank of Libya will be run by "Libyans" just like the war against Gaddafi is being waged by "Libyans". It's a separate issue whether those Libyans have a Libyan nationality or an EU/USZ nationality. Over the past couple of years, Moammar Gaddafi had threatened to nationalize the oil industry in Libya and kick western oil companies out of the country, but now that Libya will be "free" the people of Libya will be able to work hand in hand with "big oil" and this will create a "better Libya for everyone". Of course oil had absolutely nothing to do with why the USZ "invaded and initiated a kinetic humanitarian liberty action" in Libya. When the Globalist Zionist puppet Barack Obama looked straight into the camera and told the American people that the war in Libya is in the "strategic interest" of the United States of Zionism, what was he pointing at? Not to forget that Obama won a Nobel Peace Prize in one of the most violently absurd events of the century.

Russian Foreign Minister Sergei Lavrov has loudly denounced "coalition strikes on columns of Gaddafi's forces" and he believes that the USZ has badly violated the terms of the UN Security Council resolution.

"We consider that intervention by the coalition in what is essentially an internal civil war is not sanctioned by the U.N. Security Council resolution."

So to cool off rising tensions with the rest of the world, Obama is going to call off the air strikes, right? Well, considering the fact that Obama has such vast foreign policy experience we should all be able to rest easy knowing that Obama will understand exactly what to do. Meanwhile, the rebels seem to be getting the hang of international trade already. They have even signed an oil deal with Qatar (One of the biggest hubs of literally free oil for USZ)!

Wednesday, 30 March 2011

Rs 263 Billion notes printed 7+ months in Pakistan


Finance Minister of stooge regime of PPP, Dr Abdul Hafeez Shaikh on Tuesday told the Senate that Rs 263 billion currency notes were published from June 30, 2010 to February 15, 2011, showing a year-on-year growth of 19% ! The finance minister said that Rs 153.750 billion currency notes were printed during the fiscal year 2009-10 resulting in reduction of financial intermediation. He in a written reply informed the Upper House of the Parliament during the question hour that issuing of currency notes also resulted in increased currency in circulation.


He said that currency to deposit ratio had been increased to 33% from 29% on February 2011. The prime reason for this increase in currency in circulation is heavy govt borrowings from State Bank of Pakistan for budgetary support, he added. 

We are ringing the danger alarm at this point in time for each and every Pakistani because a tsunami like recession is about to hit Pakistan since we are still holding all our foreign exchange reserves in USZ Dollar. History testifies that every economy which had tried to bail itself out by printing more money, has ended up in catastrophe.

 

Friday, 25 March 2011

Portuguese PM resigns amid Financial collapse


Portugal plummeted into fresh crisis Thursday after the prime minister quit following a showdown with parliament over his new austerity plan, increasing the likelihood Lisbon will seek a financial bailout. PM Jose Socrates tendered his resignation late Wednesday, saying he could not govern without support after all five opposition parties voted against his minority government's latest spending cuts and tax hikes. The austerity plan - the government's fourth in a year - was aimed at avoiding the need for an EU-IMF bailout to help Lisbon meet debt repayment obligations, a package similar to those granted fellow eurozone members Greece and Ireland last year. "This crisis will have very serious consequences in terms of the confidence Portugal needs to enjoy with institutions and financial markets", Socrates said after presenting his resignation to President Anibal Cavaco Silva.

Portuguese PM Jose Socrates
The events in Portugal threaten to derail a two-day European Union summit that gets underway Thursday in Brussels that had been expected to finalise the bloc's response to a year-long eurozone debt crisis. German Zionist pro IMF Chancellor Angela Merkel said Thursday she regretted that parliament had rejected Socrates' austerity plan, describing it as "correct and courageous". "Now what?" said the headline on the front page of business daily Diario Economico, summing up the national mood. The Portuguese president will hold meetings with all political parties on Friday and the government would retain full powers at least until then, the president's office said in a statement. That leaves Socrates, in office since 2005, and his Socialist government in place with full powers for the duration of the EU summit although as an outgoing leader his authority is severely damaged. The president can now invite parties with representation in parliament to form a coalition government or, in the more likely scenario, he can dissolve parliament and call snap elections.


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