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UN resolution invalid, says Gaddafi (UKPA) – 25 minutes ago Muammar Gaddafi says the UN resolution authorising international military intervention in Libya is "invalid". The Libyan leader says he sent a message to President Barack Obama defending his decision to attack rebel cities: "If you found them taking over American cities by the force of arms, tell me what you would do." The statement came from the government spokesman at a news conference in Tripoli. Gaddafi also sent a letter to the French and British leaders, and the UN secretary general, saying the resolution violates the UN charter and saying...

The Real Battle of Bahrain: Saudi Arabia Vs. Iran John Ellis | Mar. 14, 2011, 2:53 PM As George Friedman points out at Stratfor, there are two levels to what is happening in Bahrain. There are the legitimate complaints of the Shiite minority. And there's Iran's initiative to destabilize the Gulf in hopes of expanding its sphere of influence. By sending troops to help the Bahrain government "calm" the Shia, Saudi Arabia has essentially checked Iran's initiative, at least for the time being. Friedman's analysis is characteristically sharp:

Geopolitical Events May Trump Big Week for Economic News Published: Friday, 11 Mar 2011 | 9:03 PM ET By: Patti Domm CNBC Executive Editor Geopolitical events may eclipse U.S. economic news, even with this week's inflation reports and Fed meeting. Traders went home Friday, concerned by the tragedy and destruction from Japan's massive earth quake and tsunami. They are also worried about the potential for more unrest in the Middle East, and have lingering concerns about Europe's sovereign debt problems, even after EU leaders agreed to the main points in a stability package Friday. The Fed holds a one day...

Saudi reports spur safety bid, auction supports By Chris Reese NEW YORK | Thu Mar 10, 2011 5:10pm EST NEW YORK (Reuters) - U.S. Treasury debt prices soared on Thursday as reports of unrest in Saudi Arabia deepened concerns over tensions in the Middle East and North Africa, driving a safety bid that analysts said could dominate the market over the short term. Reports that Saudi police had dispersed a protest, with shots heard at the scene, fueled worries over possible oil supply disruptions and the potential impact of soaring oil prices on the economic recovery. "The entire Treasury market...

Libya: SAS mission that began and ended in error A SAS mission to Libya resulted in humiliation after the troops were first captured by rebels, then a diplomat’s plea for their release was broadcast on state television. By James Kirkup, Nick Meo in Benghazi and Caroline Gammell 9:01PM GMT 06 Mar 2011 The mission was error-strewn from the beginning, when a helicopter carrying the team of seven SAS soldiers and MI6 officer landed in Benghazi without warning the rebel commanders - causing the insurgents to think they were coming under attack. The team then aggravated the situation by claiming to...

Experts Fear Looted Libyan Arms May Find Way to Terrorists By C. J. CHIVERS Security analysts say the armed uprising in Libya poses a long-term security threat — that weapons looted from government stockpiles could circulate widely, including heat-seeking antiaircraft missiles that could be used against civilian airliners. Photographs and video from the uprising show civilians carrying a full array of what were once the Libyan military’s weapons — like the SA-7, an early-generation, shoulder-fired missile in the same family as the more widely known Stinger — that intelligence agencies have long worried could fall into terrorists’ hands. They also...

SAS unit, diplomat 'held' by Libya rebels LONDON (AFP) – A Special Air Service (SAS) unit and a junior diplomat were being held by rebels in eastern Libya following a bungled mission to put the envoy in touch with them, The Sunday Times said. The broadsheet, citing sources, said the SAS unit, thought to be up to eight men, were captured along with the diplomat they were escorting through the rebel-held east. "We can neither confirm nor deny the report," a Foreign Office spokeswoman told AFP. The Ministry of Defence (MoD) said: "We neither confirm nor deny the story and...

UPDATE 1 - China internal security spending jumps past army budget Sat Mar 5, 2011 2:46am EST * To spend $95 bln on public security, $92 bln on military * Security spend includes police, jails, state security * China to remain vigilant against calls for protest By Chris Buckley BEIJING, March 5 (Reuters) - China's spending on police and domestic surveillance will hit new heights this year, with "public security" outlays unveiled on Saturday outstripping the defence budget for the first time as Beijing cracks down on protest calls. China's ruling Communist Party also issued its loudest warning yet against...

When the upswing in commodity prices eventually makes its way throughout the food system in mid-to-late 2011, food prices are sure to spike with levels potentially reaching those of 2008, announced U.S. Department of Agriculture (USDA) economist Ephraim Leibtag at the agency's annual Outlook Forum. And if conditions escalate rapidly, there is also the potential for food riots and other civil unrest. The USDA is predicting a 3.5 percent increase in food prices in 2011, which is about twice the overall inflation rate but less than the 2008 increase, according to a recent Reuters report. In 2008, food prices rose...

Last fall, leftist ideological groups of socialists and communists teamed up with American labor unions to march together for “One Nation.” Now, as labor leaders struggle to maintain a stranglehold on collective bargaining privileges in Wisconsin, the same groups are once again marching together under a banner claiming unions are the heart of the American dream.As we’ve reported, former White House green jobs czar Van Jones this week issued a rallying call for the progressive movement to “renew itself and become again a national force with which to be reckoned.” On Saturday, progressive groups and labor unions are reportedly planning...

Iraq's largest oil refinery was shut down on Saturday after militants carried out a bomb attack and set it on fire, the governor of Salahuddin province said. The militants killed four people and planted bombs at production units for kerosene and benzene at the refinery in the town of Baiji, a former al Qaeda stronghold about 180 km (112 miles) north of Baghdad, Governor Ahmed al-Jubouri said. "There is a big fire in the refinery and the refinery has completely stopped," Jubouri told Reuters. Overall violence in Iraq has dropped sharply since the peak of sectarian conflict in 2006-07, but...

Throughout my 2010 article series "Extend & Pretend" and "Sultans of Swap" I stressed that we were rapidly moving from the Financial Crisis of 2008, through the Economic Fallout of 2009 -2010, towards a Political Crisis in 2011 -2012. We are now clearly beginning to see the early emergence of the final part of this continuum. From North Africa to Wisconsin all are fundamentally based on the single insidious underlying problem - excessive global debt and credit levels.

Recent developments in North Africa have tyrants spooked worldwide At this rate North Korea's scrawny, gnarled slaves  might even see an extra bowl of gruel or two... Saudi Arabia (FT): King Abdullah of Saudi Arabia announced financial support measures, worth an estimated $36B US in a bid to avert the kind of popular unrest that has toppled leaders across the region and is now closing in on Libya’s Muammer Gaddafi. The measures include a 15% salary rise for public employees to offset inflation, reprieves for imprisoned debtors, and financial aid for students and the unemployed. Saudi Arabia’s ruling family has thus...

Aircraft, cargo ships and fishing boats are moving towards Libya to evacuate Chinese nationals living in the North African country. Tunisian, Turkish and other workers are fleeing the country as well. Tripoli – China will send a jet, ships and fishing vessels from nearby waters to evacuate some 33,000 Chinese nationals working in violence-torn Libya. The government has set up an emergency unit headed by Vice Premier Zhang Dejiang to coordinate the repatriation of mainlanders, as well as people from Hong Kong, Macau and Taiwan, the Foreign Ministry said in a statement. The State Council (cabinet) “decided to immediately deploy...

Italy says 1,000 killed in Libya unrest Wed Feb 23, 2011 6:26am EST TRIPOLI, Feb 23 - Muammar Gaddafi's increasingly desperate attempts to crush a revolt against his four-decade rule have killed as many as 1,000 people and split Libya, Italy's Foreign Minister said on Wednesday. As countries with strong business ties to Africa's third largest oil producer scrambled to evacuate their citizens, and fear of pro-Gaddafi gunmen emptied the streets of the capital Tripoli, France became the first state to call for sanctions. "I would like the suspension of economic, commercial and financial relations with Libya until further notice,"...

Gaddafi's vow: Will fight to 'last drop of blood' Associated Press Tags : Libya protests, Moammar Gaddafi, Tripoli violence Posted: Wed Feb 23 2011, 08:57 hrs Cairo: A defiant Moammar Gaddafi vowed to fight to his "last drop of blood" and roared at supporters to strike back against Libyan protesters to defend his embattled regime Tuesday, signalling an escalation of the crackdown that has thrown the capital into scenes of mayhem, wild shooting and bodies in the streets.

Riyadh, Saudi Arabia When his royal jet lands here in the Saudi capital on Wednesday, ending a three-month absence, King Abdullah bin Abdul Aziz will find a nation seemingly moored in the eye of the epic storm howling around it. But it is also clear that the octogenarian king, who went to New York in late November for back surgery and then to Morocco to convalesce, is returning to a realm touched in significant ways by the youth rebellions roiling the Middle East. More than ever before, Saudis are openly calling for change, including political reforms. The most vociferous are...

'Leader of the Revolution' appears on Libyan state TVwhile bodies pile-up in the streets of Tripoli... Libyan TV Anyone -like myself- wondering if Muammar Gadaffi's warped son Saif al Islam Gaddafi was just blustering on Libyan TV -wagging his finger while threatening "a river of blood" emanating from "civil war" fought to "the last bullet"- got their answer last night in the form of a gruesome ongoing massacre inflicted by military/security/militia loyalists upon their own countrymen... Saif al Islam Gaddafi There's reportedly been bombing of funeral processions and civilian areas of the capitol by fighter jets, while on the...

Libya's second city Benghazi reportedly already lost...  Libyan leader Muammar Gaddafi is believed to have fled the capital Tripoli after anti-government demonstrators breached the state television building and set government property alight. Protesters appear to have gained a foothold in Tripoli as banks and government buildings were looted while demonstrators have claimed they have taken control of the second city Benghazi. It is thought up to 400 people may have died in the unrest with dozens more reported killed in Tripoli overnight as protests reached the capital for the first time and army units were said to have defected to...

TONY EASTLEY: As our correspondent pointed out it's difficult to get information out of Libya but there are reports this morning that some members of an army unit in Benghazi have defected and joined the protest movement. Libya's permanent representative to the Arab League has reportedly told journalists in Cairo that he's resigning in order to join the protests. The Reuters newsagency is also saying that a local doctor in Benghazi says that on Sunday alone 50 people were killed in the city, many of them shot dead. The doctor told Reuters that a further 100 people had been seriously...