World View: The Fall of Morsi in Egypt Is Significant Blow to Turkey
This morning's key headlines from GenerationalDynamics.com
- Taliban involvement in Syria threatens Turkey's security
- The fall of Morsi in Egypt is significant blow to Turkey
- Survey finds increasing political corruption around the world
- JP Morgan advisor defrauds 82 year old grandmother
Taliban involvement in Syria threatens Turkey's security
Morsi supporters rally in Istanbul on Sunday (Zaman)
The new announcement that the Pakistan Taliban is sending hundreds of
fighters to Syria to join with the al-Qaeda linked al-Nusra front is a
threat to Turkey's security, according to a Turkish analyst. Turkey
blames the rapid growth of al-Qaeda in Syria on the U.S. and the West
for repeatedly failing to support the secular opposition to the Bashar
al-Assad regime back in the early days of al-Assad's bloody slaughter
of women and children, when supporting the opposition might have done
some good. Instead, the West sat back and watched as Russia to
provide an unlimited supply of heavy weapons to Syria, and as
Iran-backed Hezbollah invaded Syria to support al-Assad.
But the build-up of al-Qaeda linked terrorists in Syria presents a
threat to Turkey and its more moderate Islamist government. It also
complicates Turkey's support for the Free Syrian Army (FSA) in Syria,
because there's a three-way looming in Syria, with al-Assad, the FSA
and the al-Qaeda militias all opposing each other. Zaman (Ankara)
The fall of Morsi in Egypt is significant blow to Turkey
Will millions of people in Egypt protesting for and against the
now-ousted president Mohamed Morsi, Turkey's president Recep Tayyip
Erdogan has been concerned for months that those protests would spread
to Turkey. But the concerns grew much greater when Erdogan's ally,
Morsi, was ousted, and his Muslim Brotherhood party was driven from
power by the army. Since the ouster, Egypt's army arrested numerous
Brotherhood officials, including Morsi, froze Brotherhood funds, shut
down Brotherhood television stations, and killed dozens of Brotherhood
protesters last week in a confrontation.
For Erdogan, the problem is that none of the remaining power groups in
Egypt is a potential partner for Turkey. Erdogan's Justice and
Development Party (AKP) is considered an ally of the Muslim
Brotherhood, and so also an enemy of Egypt's army. Egypt's al-Nour
and other Salafists parties distrust Turkey for not being "Islamic"
enough, while the revolutionary and democratic forces are more allied
with the Erdogan's political opponents.
In fact, the fall of the Muslim Brotherhood in Egypt has resulted in
loss of influence by Brotherhood-allied political parties throughout
the region, with the result that Erdogan has also lost influence
throughout the region.
Turkey's Foreign Minister Ahmet Davutoglu warned on Monday that if
"the old system" returns to Egypt, then the same thing could happen in
other countries, in a "reverse domino effect":
"People or institutions from the old system could say
"in some way, the army staged a coup and it has been justified by
foreign countries – or at least they have remained silent about
declaring it illegitimate – so we can do the same then."
There are some elements that have remained from the old system in
Yemen, Tunisia and Libya. Our foremost mission is to eliminate the
possibility of making a reverse domino effect over external
legitimacy. If we all allow something wrong in Egypt, there will
be a reverse domino effect."
Davutoglu did not indicate what steps Turkey would take to accomplish
this "foremost mission."
Erdogan has seen his dreams of Turkish regional leadership go down the
drain, as Turkey now has good relations with only two of its
neighbors: Hamas in Gaza and Israel. Al-Monitor and Hurriyet (Istanbul)
Survey finds increasing political corruption around the world
60% of Americans say corruption has increased in the past two years,
with political parties perceived as the most corrupt institutions.
More than three-quarters of Americans say that political parties are
the most corrupt, followed by the legislature, the media, public
officials and businesses. Those surveyed said that the military,
non-governmental organizations and the education system were the least
corrupt. The survey by Transparency International found majority of
people around the world believe that their government is ineffective
at fighting corruption and corruption in their country is getting
worse. 114,000 people were surveyed in 107 countries. Transparency International and US News
JP Morgan advisor defrauds 82 year old grandmother
Long-time readers of Generational Dynamics will not be surprised by
the above report that corruption is increasing in politics.
Politicians in Washington and analysts on CNBC openly lie all the
time, as I've reported frequently. But it takes a story
like this, posted in the Generational Dynamics Forum, to really bring the concept
"Had dinner with Mom last night. She's 82 years old
and slowly dying of skin cancer and congestive heart failure. She
was feeling fine last night. After dinner she asked me to look at
something. She shoves a Chase Bank (JP Morgan) account statement
in front of my face and asks if it looks right. I serve as her
financial advior and executor of her estate. Didn't even know she
had this account. She had rolled over a CD paying zero interest
and the bank thief rep had advised to her to put into a JPM bond
fund to "get a better yield". Since beginning of year bond fund
had lost principal due to rising interest rates, but here is the
kicker... These guys had been consistently charging her $50 a
month, yes, that's right $50 a MONTH, to "manage" her measley
account. Current balance $13,500. $600/year (4.4%) in management
fees for the privilege of losing her hard earned money? ... The
boldness of these thieves is extraordinary."
As I've been writing for years, the same people who caused the
financial crisis are still in the same jobs in JP Morgan and other
banks finding new ways to defraud people, especially older people.
Those tens of trillions of dollars in fraudulent subprime mortgage
backed synthetic securities didn't just grow out of thin air, you
know. They were created by the banks, and then sold to investors,
like this grandmother, by advisors who said that they were AAA-rated.
The Obama administration has adamantly refused to investigate and
prosecute even the most obvious of these crimes, because these same
criminals donate large sums of money to him. So none of these crooks
have gone to jail or have even lost a night's sleep. The people who
created and sold those fraudulent securities are still in the same
jobs in the same banks, finding news ways to defraud people. And why
not? Since no one is going to even investigate their crimes, they can
defraud as many people as they want, and just sit back and enjoy their
winnings and laugh at the suckers they defrauded.
If there's an older person in your life with some investments, you
should make sure that you warn that person, and provide as much
support as you can.
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