World View: Half of China's Rivers Have Disappeared
This morning's key headlines from GenerationalDynamics.com
- Half of China's rivers have disappeared
- Germans may be removing their savings from banks
- Suspicions grow that the Cyprus bailout numbers don't make sense
- Jordan and Palestine agree to jointly defend Jerusalem from Israel
Half of China's rivers have disappeared
Dead pigs along the riverbank near Shanghai (AP)
From a country of 1.3 billion people and fraught with water shortages,
comes a startling new census report that over half the nation's rivers
have disappeared. According to the Ministry of Water Resources, China
currently has 22,909 rivers, some 28,000 fewer than in the 1990s. The
drastic drop is blamed on faulty maps, severe overexploitation of
groundwater in 400 cities in China, and severe pollution.
This comes just after a series of "animal apocalypse" stories, one
after another. First, over 16,000 pig carcasses were found in one of
the rivers supplying the water supply of Shanghai, China's financial
hub, starting last month. Then more than 1,000 dead ducks were found
in a river in southwest China. And what's just as amazing is that
Chinese authorities are offering no explanation for these carcasses,
except to say that they're "investigating."
And now a new story is coming out of Anhui province in eastern China,
about a scenic pond inhabited by a bevy of beautiful black swans for
the the last decade. All of a sudden, five of the black swans were
found dead on Wednesday morning. Once again, there's no official
explanation, but a reporter found that the water had an oily quality
to it, and quite a lot of garbage could be seen on the surface. Many
people often used the pond to rinse cloths, mops, mats and other items
containing various chemicals.
Global Times and Shanghaiist and Danwei
Germans may be removing their savings from banks
Germany's Finance Minister Wolfgang Schäuble is insisting that
bank savings deposits are safe in all eurozone countries besides
Cyprus are safe:
"Cyprus is and will remain a special one-off case.
The savings accounts in Europe are safe.
Cyprus’s economy will now go through a long and painful period of
adjustment. But then it will pay back the loan when it is on a
solid economic foundation. ...
[You] could see [the strength of the euro] during the Cyprus
crisis. The entire turbulence did not have any impact on the
other countries in southern Europe. The financial markets have
seen: we are better prepared now. We’ve accomplished quite a bit.
What is more important is that we are strong enough to keep
everyone in the boat.
I believe that we will one day read in the history books about
this period that the crisis brought Europe even closer
He added that the continent was currently enjoying "a very fortunate
Schäuble was trying to reassure the wider European public, many of
whom fear the power of the Germans, and see them as imposing the
German culture on the rest of Europe by force. The Germans are deeply
angered by portrayals in Cyprus of Chancellor Angela Merkel with a
At the same time, Schäuble was addressing the domestic German
audience, which is headed for federal elections in September. The
Germans are relieved, comforted and pleased with themselves, because
the Germans didn't have pay to bail out the Russian oligarchs.
That's why few people really believe that Schäuble was telling the
truth. Everybody knows that Greece is headed for another crisis, as
are Spain, Portugal and Italy. What will happen then? Will Germany
really be willing to bear the brunt of another bailout, without taking
advantage of "the Cyprus solution" -- taxing the depositors' savings
accounts? If you believe that, then I have a bridge I'd like to sell
Even most Germans don't believe that their savings are necessarily
safe, with one in three saying they'd like to return to the
deutschmark. And there's growing anecdotal evidence that some Germans
have begun removing their savings from banks, and that others have
opened new accounts to spread their savings around and avoid getting
caught like Cypriot depositors with more than 100,000 euros.
Spreading savings around several banks may not be a bad idea for large
American savers, as well.
As I've been saying for years, from the point of view of Generational
Dynamics, both Europe and America are in a deflationary spiral, and a
major financial panic and crisis, worse than 1929, is coming with
mathematical certainty. VOA and Kathimerini and Guardian (London)
Suspicions grow that the Cyprus bailout numbers don't make sense
Various bloggers are digging into the math behind the Cyprus bailout,
and are finding that the figures don't make sense. It was originally
reported that Russian oligarchs had over 35 billion euros in Cyprus
banks, but it now appears that it's really more like 10 billion.
We've been told that the immediate cause of the problem was all the
foreign money in the banking system, but that explanation now appears
to be wrong. Forbes
Jordan and Palestine agree to jointly defend Jerusalem from Israel
On Sunday, Palestinian Authority President Mahmoud Abbas and Jordan's
King Abdullah signed an agreement on "the defense of Jerusalem and the
According to the agreement:
Jerusalem Post and Petra (Jordan)
- Jordan and Palestine will exert all efforts to protect
Jerusalem and its Holy Sites from Israeli escalatory Judaisation.
- Jordan and Palestine agree to the common goal of defending
- The status of East Jerusalem as Palestinian sovereign occupied
territory is reaffirmed. According to the agreement, all post-1967
occupation practices or aggressions against Jerusalem are not
recognised by any international or legal entity.
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