Report: Stuxnet could cause Iranian ‘Chernobyl’ | FP Passport

An intelligence report given to the AP by “a nation closely monitoring Iran’s nuclear program” suggests that the Stuxnet worm which penetrated computer systems at Iran’s Bushehr nuclear plant could cause a massive meltdown once the plant becomes full operational:

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Report: Stuxnet could cause Iranian ‘Chernobyl’ | FP Passport

Stuxnet returns to Bushehr reactor. Russia warns of nuclear explosion

Kiriyenko told the Iranian president that the Russian engineers employed at the reactor notified Moscow that Stuxnet was again attacking the Bushehr systems after apparently taking a rest from its first onslaught last June. There was no telling which systems had been infected, because a key feature of the virus is that the systems’ screens show they are working normally when in fact they have been fatally disarmed. Activating the reactor in these circumstances could cause an explosion far more powerful than the disaster at the Russian reactor at Chernobyl, Ukraine in April 1986, which released 400 times more radioactive material than the atomic bombing of Hiroshima.

DEBKAfile, Political Analysis, Espionage, Terrorism, Security

Egypt protests: Army rules out the use of force

Since Hosni Mubarak is 82 years old and not in great health, it would appear that a great transition is going to take place soon anyway. The army knows this and is probably thinking that it might make sense to stay out of the fray as much as possible. Why not wait until things get clearer one way or another?

One has to think that the army’s decision to rule out the use of force is bad news for Mubarak. It’s also bad news for the West. Democracy tends not to work well in the Middle East because of Islam. Allah knows best, so why leave it up to the people? Islam also leads to Socialism/Marxism because of its call for equality of property (according to Walid Shoebat).

Egypt’s army has vowed it will not use force against the tens of thousands of people protesting for the removal of the regime of President Hosni Mubarak.

It said it respected the “legitimate rights of the people”.

The statement comes ahead of a massive march planned for Cairo on Tuesday and amid a call for a general strike.

Meanwhile, new Vice President Omar Suleiman said Mr Mubarak had asked him to open dialogue with all political parties on constitutional reform.

Earlier, Mr Mubarak announced a cabinet reshuffle to try to head off the protests, replacing the widely despised Interior Minister Habib al-Adly.

BBC News – Egypt protests: Army rules out the use of force

Egypt and the Future of the Middle East

WILL TURKEY GOBBLE UP EGYPT? The Fall of Egypt to Islamists has long been Predicted by Former Muslim Terrorist, who says More to Come

Former Muslim terrorist Walid Shoebat was once a member of the Muslim Brotherhood when he was in Chicago years ago. He not only knows their plans but has accurately been predicting events like the fall of Egypt to Islamists.

In his 2008 book, which took him years to write, he made the case that the Turkish Ottoman empire that was dismantled in 1924 would attempt to rise again. This has been the long term goal of the Muslim Brotherhood ever since, he says.

Any and all states that fall into the hands of the Muslim Brotherhood will eventually be gobbled up by Turkey, which was the center of the Ottoman empire. What happens next will be fascinating and Shoebat has released a statement about these recent events.

Statement from Walid Shoebat (Shoebat.Com)

Egypt and the Future of the Middle East

By Walid Shoebat

With socialist revolutions, the rule is: “take out a Czar and you will get a Stalin!”

Keep in mind the fire of revolution that engulfs Egypt was ignited by socialists and later embraced by Islamists. It is true that the Muslim Brotherhood was banned as an organization in 1954 but it’s been tolerated and has forged alliances with legal and political groups in the last two decades; the liberal socialists, the Wafd, and other socialist labor parties have been allies.

Continue reading Egypt and the Future of the Middle East

Shocking New Failures Possible in the U.S. and Overseas

If you missed all or some of our online video, America’s Day of Reckoning, today is your last day to view it; and the content couldn’t be more in sync with the dramatic events now unfolding.

Indeed, just when Wall Street and Washington seemed to have most investors convinced that “the debt crisis is history,” a whole new series of shocks have rocked the world:

Egypt and Tunisia — supposedly models of economic stability and growth — are now prime candidates for financial defaults.

Continue reading Shocking New Failures Possible in the U.S. and Overseas

Lonely Analyst Warns of 2015 Bank Crisis Amid `Upbeat’ Davos – Bloomberg

As politicians, executives and financiers networked at parties and panels last week in Davos, Switzerland, Barrie Wilkinson was in a nearby hotel, warning that a 2015 financial catastrophe may be looming.

“The fundamentals haven’t been addressed at all,” Wilkinson, a London-based partner at consulting firm Oliver Wyman, said in an interview at the Hotel Morosani Schweizerhof. “The things that caused the previous crisis — loose monetary policy and trade imbalances — they’re actually bigger now than they were then.”

Lonely Analyst Warns of 2015 Bank Crisis Amid `Upbeat’ Davos – Bloomberg

AAA Rating Is Tough to Defend as U.S. Debt Soars | Businessweek

Last week, Standard & Poor’s lowered Japan’s bond rating to AA-, the fourth-highest level. By that standard, the U.S. got away with a slap on the wrist from Moody’s Investors Service, which warned merely that “the probability of assigning a negative outlook in the coming two years is rising.”

If you look at the U.S. budget trajectory with an eye on the lessons from Japan’s recent history, there’s a strong case that the U.S. rating should be cut immediately.

AAA Rating Is Tough to Defend as U.S. Debt Soars: Kevin Hassett – Businessweek

The weakness beneath China’s rise

Red Capitalism
By Carl Walter and Fraser Howie
John Wiley & Sons, 19.99 ($29.95)

The financial crisis has delivered a heavy blow to the American model of capitalism. Chinese officials do not hesitate to trumpet the point as they rejoice in the shift in the balance of economic power to Asia. Yet there are questions about how well their own model stands up to scrutiny. In Red Capitalism Carl Walter and Fraser Howie, both long-standing experts in Chinese banking and securities markets, ask quite a few; and their conclusions are unflattering. / Books / Non-Fiction – The weakness beneath China’s rise