Top global accounting firm Deloitte says US debt crisis is 'bigger than you think'

* US Government debt "could spiral out of control"
* Interest payments add a new level of fiscal pain
WHAT is the real cost of the US Government's nearly $US16 trillion ($16.07 trillion) debt?

"The debt crisis is likely bigger than you think," a report issued by Deloitte, one of the world's largest accounting firms, concluded.

That is because interest payments on the country's massive debt add a whole new level of fiscal pain to the problem.

Interest payments on the national debt alone, it noted, are expected to total some $US4.2 trillion over the next decade.

And that number could go higher depending on rates.

The lead author of the Deloitte study, director Bill Eggers, stressed that US Government debt could quickly spiral out of control if investors become less willing to lend more money.

"If interest rates go up by simply three per cent over the next decade, the additional cost to the Treasury, just for interest payments, would equal the peak combined cost of the wars in both Afghanistan in Iraq," he said.

The report showed that $US4.2 trillion being spent on interest could instead:

- build 130,000 kms of highways
- pay tuition for every science/math/engineering college degree in the country
- triple US government general research and development funding
- build six international space stations
- offset 80 per cent of global warming pollution in the atmosphere as recommended by the Intergovernmental Panel on Climate Change

But not all economists are on board with the implications of the study.

"The major holders of government bonds are agencies and individuals within the US," Robert Stonebraker, an economics professor at Winthrop University, told FOXNews.com.

"So if you pay $US1 trillion in interest on the debt, a lot of it will go back to Americans anyway."

But Mr Eggers noted that a lot of the interest payments do go overseas.

"If you look at the interest payments going to foreign countries, soon we're going to be spending enough to essentially finance the Chinese military," he said.

Currently, foreigners own some $US5 trillion in US Government bonds, $US1 trillion of which is owned by China.

Not all economists agree with the study.

"I think they're overhyping the need to fix the debit crisis in short run," Dr Stonebraker said.

"It's not appropriate to cut spending during an economic slowdown -- that is exactly when you need deficit spending to stimulate the economy and get people back to work," he said.

Face-chewing victim 'awake and alert'

* Attacked by man who chewed his face off
* Ronald Poppo seen recovering in hospital
* Two-thirds of his face covered in scabs, missing nose
* Warning: Graphic image

A HOMELESS man whose face was mostly chewed off in a bizarre attack is awake and alert at a Miami hospital.

In a photograph, Ronald Poppo is shown walking down a hospital hallway, supported by hospital staff.

Doctors will further update his condition on Tuesday afternoon (Wednesday morning AEST).

Mr Poppo was attacked May 26 by Rudy Eugene, who was naked and didn't stop his attack until a police officer shot him dead.

The photo shows the upper two-thirds of Mr Poppo's face covered in scabs.

He's missing his nose, and both eye sockets are covered - one with gauze and one with what appears to be a skin graft.

Autopsy results on Eugene are still pending.

Dr. Wrood Kassira gestures as she speaks on the condition of Ronald Poppo, pictured at left, during a news conference

US, EU fake Iran’s consent to discussing enrichment to fend off Israeli action

DEBKAfile Special Report

A spokesman for EU foreign executive Catherine Ashton, who heads the six-power group in nuclear negotiations with Iran, reported Monday night, June 11, that Tehran is now willing to discuss high-grade uranium enrichment in the next round of nuclear talks in Moscow on June 18-19.

The claim is false. Tehran consistently refuses to discuss its “right to enrichment” and threatened not to turn up for the Moscow session after US Secretary of State Hillary Clinton demanded last week that Iran come to the table with “concrete plans” for curbing uranium enrichment up to 20 percent purity.

Iran has not backtracked: Ashton got nothing new from an hour of tense conversation with senior negotiator Saeed Jalili and had to be satisfied with issuing the noncommittal statement, “The Iranians agreed on the need for Iran to engage on the (six powers') proposals, which address its concerns on the exclusively peaceful nature of the Iranian nuclear program."

Enrichment remained unmentioned – least of all, any reference to the international inspectors’ discovery that Iran was enriching uranium up to 27 percent - and the “exclusively peaceful nature” of Iran’s nuclear program was endorsed.

From the outset, the talks between the six powers (US, China, Russia, Germany, France and Britain) in Istanbul (April 14) and Baghdad (23.5) and Tehran were falsely presented by the US and the European Union as different from previous diplomacy in that Tehran was now prepared to discuss the controversial aspects of its nuclear program.

This sham presentation of Iran puts diplomacy on artificial life support. Admission of is demise would leave the powers face to face with the only remaining path, i.e., military action - to which President Barack Obama is committed if all other options failed - either by the United States or Israel with US support.

The International Atomic Energy Agency Director Yukiya Amano toed the line Monday, June 11, by denying that IAEA negotiations with Iran had broken down Friday, June 8, of IAEA on inspections of its suspect nuclear sites, particularly the Parchin military complex where nuclear-related explosives tests are believed to have been conducted.

It wasn’t the first time that Amano put a good face on a failure to get anywhere with Iran. On May 2, after coming away from a visit to Tehran empty-handed, he claimed a deal on inspections was clinched and close to signing. It never was. But the next day, the P5+1 were enabled to launch talks with Iran in Istanbul.

Still, Iran made sure that those talks got exactly nowhere. The next session in Baghdad was seriously stalled from the word go by a long-winded harangue by chief negotiator Jalili on the historical connotations of the 30-year old Khorrmanshahr battle, in which revolutionary Islamic Iran trounced Iraq although the world powers and Gulf states solidly backed Saddam Hussein.

Jalili did not mention Iran's nuclear program but, tacitly pointing at the delegations present, he commented: “The weapons that they provided to Saddam's Ba’athist regime included German Leopard tanks, British Chieftain tanks, French Exocet missiles and Super Etendard aircraft, Russian MIG fighter-planes and Scud-B missiles, German and British chemical weapons, American Sidewinder missiles and AWACS aircraft, Saudi, Kuwaiti, and Emirati dollars.

He concluded with a declaration that the Islamic republic would "never be bullied into surrendering" to “illegal and unjust demands.”

The tight lid kept on proceedings at the nuclear negotiations keeps embarrassing disclosures out of the public domain and supports the pretense of progress, when in fact Tehran has adamantly refused to open its nuclear program to real discussion.

Iran’s real attitude toward the current round of diplomacy is summed up by debkafile’s Iranian and intelligence sources in five points:

1. The US has run out of unilateral options for dismantling Iran’s nuclear weapons program and depends now on the cooperation of Moscow and Beijing to achieve any progress. Tehran infers this from Washington’s turn to the Russians for help in resolving the Syrian crisis.

2. The world powers facing Iran at the nuclear negotiations in Istanbul and Baghdad are not united as depicted by the Obama administration but split three ways between Russia, China and the West. It is therefore in Tehran’s interest to keep the talks dragging on for as long as possible and so widen the divisions and isolate America.

3. Tehran is aware of US plans to impose harsher sanctions very soon, including an air and marine blockade, and is not dismayed. In fact, Iranian strategists are busy figuring out ways to get around them. They also calculate that the tougher the sanctions, the higher the price they will exact for every nuclear concession. From this perspective, tougher sanctions will buy Iran more time and a faster route to a nuclear bomb.

4. Tehran regards the staging of the "P7 Talks" as part of a wider picture. A high-ranking Iranian source said: ‘If the negotiations were just about nuclear issues, why bring in the major powers? The talks could have been handled by the International Atomic Energy Agency in Vienna.

Iran’s leaders are nonetheless capitalizing on those talks as a short cut to broad global recognition of the Islamic Republic’s status as a major world power.

“We are already more than half way to achieving this,” they say in Tehran.

5. In view of the first four points, Tehran believes it is on a winning roll and can afford to stand fast against giving ground on a single one of its nuclear and technological advances.

The question asked by debkafile is why is Israel’s Prime Minister Binyamin Netanyahu keeping silent on this charade and even going along with it.

EU planning for worst-case scenario in case of Greek eurozone exit

By Luke Baker, Reuters

BRUSSELS – European finance officials have discussed as a worst-case scenario limiting the size of withdrawals from ATM machines, imposing border checks and introducing capital controls in at least Greece should Athens decide to leave the euro.

EU officials have told Reuters the ideas are part of a range of contingency plans. They emphasized that the discussions were merely about being prepared for any eventuality rather than planning for something they expect to happen — no one Reuters has spoken to expects Greece to leave the single currency area.

Belgium’s finance minister, Steve Vanackere, said at the end of May that it was a basic function of each eurozone member state to be prepared for problems. These discussions appear to be in that vein.s

But with increased political uncertainty in Greece following the inconclusive election on May 6 and ahead of a second election on June 17, there is now an increased need to have contingencies in place, the EU sources said.

The discussions have taken place in conference calls over the past six weeks, as concerns have grown that a radical-left coalition, SYRIZA, may win the second election, increasing the risk that Greece could renege on its EU/IMF bailout and therefore move closer to abandoning the currency.

No decisions have been taken on the calls, but members of the Eurogroup Working Group, which consists of eurozone deputy finance ministers and heads of treasury departments, have discussed the options in some detail, the sources said.

As well as limiting cash withdrawals and imposing capital controls, they have discussed the possibility of suspending the Schengen agreement, which allows for visa-free travel among 26 countries, including most of the European Union.

“Contingency planning is underway for a scenario under which Greece leaves,” one of the sources, who has been involved in the conference calls, said. “Limited cash withdrawals from ATMs and limited movement of capital have been considered and analyzed.”

Another source confirmed the discussions, including that the suspension of Schengen was among the options raised.

“These are not political discussions, these are discussions among finance experts who need to be prepared for any eventuality,” the second source said. “It is sensible planning, that is all, planning for the worst-case scenario.”

The first official said it was still being examined whether there was a legal basis for such extreme measures.

“The Bank of Greece is not aware of any such plans,” a central bank spokesman in Athens told Reuters when asked about the sources’ comments.

The vast majority of Greeks — some surveys have indicated 75 to 80% — like the euro and want to retain the currency, something Greek politicians are aware of and which may dissuade them from pushing the country too close to the brink.

However, SYRIZA is expected to win or come a strong second on June 17. Alexis Tsipras, the party’s 37-year-old leader, has said he plans to tear up or heavily renegotiate the 130-billion-euro bailout agreed with the EU and IMF. The EU and IMF have said they are not prepared to renegotiate.

If those differences cannot be resolved, the threat of the country leaving or being forced out of the euro will remain, and hence the need for contingencies to be in place.

Switzerland said last month it was considering introducing capital controls if the euro falls apart.
In a conference call on May 21, the Eurogroup Working Group told eurozone member states that they should each have a plan in place if Greece were to leave the currency.

Belgium’s Vanackere said two days after that call that it was a basic function of each euro zone member state to be prepared for any eventuality.

“All the contingency plans (for Greece) come back to the same thing: to be responsible as a government is to foresee even what you hope to avoid,” he told reporters.

“We must insist on efforts to avoid an exit scenario but that doesn’t mean we are not preparing for eventualities.”

Rockefeller Foundation Predicts 13,000 Dead at London 2012 Olympics

By James Britpod

A 2010 Rockefeller Foundation document entitled “Scenarios for the Future of Technology and International Development” outlines a scenario which results in the death of 13,000 during the 2012 Olympics.

The first worrying prediction begins in 2012 when ‘the pandemic the world had been anticipating for years’, finally hits, infecting nearly 20 percent of world population and claiming 8 million lives. Due to this pandemic, the Rockefeller Foundation outlines how the public will welcome a more authoritative government and a tighter control across all aspects of life, including Biometric IDs for all citizens.

The 2012 London Olympics Bombing

In the document, the Rockefeller Foundation ‘predicts’ that the decade of 2010-2020 will be named “The Doom Decade”, because of a wave of terrorist attacks, natural disasters as well as civil uprisings and financial collapses.

The years 2010 to 2020 were dubbed the “doom decade” for good reason: the 2012 Olympic bombing, which killed 13,000, was followed closely by an earthquake in Indonesia killing 40,000, a tsunami that almost wiped

out Nicaragua, and the onset of the West China Famine, caused by a once-in-a-millennium drought linked to climate change.

Mirroring events in real life, the document also predicts that by 2015 a large share of the US’ armed forces are recalled from countries such as Afghanistan to be stationed domestically, apparently posse comitatus no longer being a concern.

In 2015, the U.S. reallocated a large share of its defense spending to domestic concerns, pulling out of Afghanistan—where the resurgent Taliban seized power once again.

As is happening right now, the document outlines how nations will lose power over their own finances due to massive debt, apparently handing over financial sovereignty to the banking technocrats.

But the document doesn’t just cover these topics. The growing mistrust in vaccines is covered in the Rockefeller document, where they state that due to corruption within national and global bodies such as WHO, “bogus” vaccines will result in mass deaths. According to the paper, the resulting mistrust in vaccines results in a large number of parents who avoid vaccination, which causes infant and child morality to rise to levels not seen since the 1970s.

In the context of weak health systems, corruption, and inattention to standards—either within countries or

from global bodies like the World Health Organization—tainted vaccines entered the public health systems of several African countries. In 2021, 600 children in Cote d’Ivoire died from a bogus Hepatitis B vaccine, which paled in comparison to the scandal sparked by mass deaths from a tainted anti-malarial drug years later. The deaths and resulting scandals sharply affected public confidence in vaccine delivery; parents not just in Africa but elsewhere began to avoid vaccinating their children, and it wasn’t long before infant and child mortality rates rose to levels not seen since the 1970s.

Technology becomes an increasing theater of battle in the Doom Decade, with cyber terrorism and hacking mafia organizations becoming more and more widespread. A worrying prediction outlined in the document covers “Bio-Hacking” where GMO and DoItYourself-Biotech push the Globalist’s love for Transhumanism forward.

Interestingly, not all of the “hacking” was bad. Genetically modified crops (GMOs) and do-it- yourself (DIY) biotech became backyard and garage activities, producing important advances. In 2017, a network of renegade African scientists who had returned to their home countries after working in Western multinationals unveiled the first of a range of new GMOs that boosted agricultural productivity on the continent.

Just as desired by Globalists for over a hundred years, the developed world begins to fall back into feudalism, with the gap between the rich and poor growing to levels not seen for hundreds of years as the middle class becomes extinct.

The rich moving into fortress like compounds, whereas the poor are forced to move into ghettos. By 2030, the document portrays the “developed” and “developing” nations to no longer be relevant or distinguishable.