The West Needs to Wake Up

Below is the speech given by Paul Weston earlier today at a conference of the Alliance of the European Freedom and National Parties in Israel. The speech was originally scheduled to be given last Sunday, but was postponed until today.

Ladies and gentlemen,

Many thanks to the organisers of this conference, who in these peculiar times we live in must go unnamed, and many thanks for inviting me to speak here in Israel, which is both the historical birthplace of Judeo/Christian Western Civilisation, and the current epicentre in the fight to defend the West in its centuries old war against radical Islam.

Israel understands it is at war, and Israel understands it is both a defensive war and a religious war against mono-cultural and expansionist Islam. Most of the multicultural West, of course, protected by decades of peace and distracted by intensive political indoctrination and brainwashing from an early age, fails to understand this one simple fact.

But the West needs to wake up. Having lived through the bloodshed and carnage of 20th Century Nazism and Communism, Europe now seems perversely determined to resurrect Nazism in the form of radical Islam, and Communism in the form of the modern Socialist hard-left, who appear determined to bring down the Christian Capitalist West via their Islamic allies, no matter what this may mean for their own children’s future.

There are many who will sneer at the comparison of radical Islam and the Nazi Party, but those who do so are either wilfully ignorant or deliberately evil. What ideology wished to exterminate the Jews? What ideology wished to murder the homosexuals? What ideology had global domination as its central theme, for which it was prepared to use violence and terror? What ideology revered its leader as a prophet who could do no wrong? What ideology thought of women as second class citizens fit only for religious study, the bedroom and the kitchen?

The answer of course is the Nazi Party, but I challenge any liberal-leftist to explain exactly how radical Islam differs in any way, and to explain to me how the leftist support of a political/religious cult that adheres to the basic tenets of Nazism can possibly be squared against the left’s supposed anti-fascist credentials.

Europe and the West now potentially face the most catastrophic disaster of our own making. We have imported Islam in such numbers as to make ourselves a minority within our own lands within the next few decades. In the case of Britain, recent reports suggest the indigenous British will become a minority by 2066. But this is not quite the whole story.

We non-reproducing British are an ageing and declining demographic, whilst the fast-reproducing Islamic demographic is notable for its youth. Islam may not become an overall majority until later this century, but it will become a majority amongst young males aged eighteen to thirty within the next two to three decades.

I do not need to tell anyone here about the importance of this statistic. Males aged 18-30 of course, are those who wage war, and history tells us that even though they may be outnumbered by moderates, the fanatical minority are always the ones who seize power and the fanatical minority are always the ones who initiate war.

Surveys suggest that 40% of Muslims in Britain wish to live under Sharia Law. Their massively expanding numbers — which will continue to grow at breakneck speed even if immigration were stopped tomorrow — coupled with their undiluted fanaticism, can mean only one thing — Britain is going to have to fight for its very survival within the next 20 years.

In other words, Britain and many countries in Europe are going to find out what it is like to live as Israel has lived since its rebirth in 1948. Britain is going to find out that being hated by Islam it is not because of territory, of occupation, or of settlements, but rather more simply because its indigenous inhabitants are not of the Islamic faith and must therefore be converted, dominated, or killed.

And again, such a statement is by no means hysterical. After the three-week Muslim torture and murder of Ilan Halimi in Paris, 2006, Israel suggested France was no longer safe for Jews to live in.

And Britain is not far behind. The East London Mosque is host to various Islamic haters of the West, whilst being simultaneously linked to the British government which has rolled over and submitted to Islam. In 2004 the East London Mosque allowed Sheikh Abdur-Rahman-al-Sudais, an imam at the Grand Al Haraam Mosque in Mecca, to make the following comment, which was not of course deemed an incitement to racial or religious hatred. Quote:

Read history and you will understand that the Jews of yesterday are the evil fathers of Jews of today, who are all evil offspring, infidels, distorters of words, the scum of the human race whom Allah cursed and turned into apes and pigs… these are the Jews, an ongoing continuum of deceit, obstinacy, licentiousness, evil and corruption.

Quite frankly, such gross anti-Semitic rhetoric would have left even Adolf Hitler struggling to compete. To hear it spoken with no fear of recrimination in Europe today is deeply disturbing.

The British people and their European friends need to understand that expansionist Islam makes us the 21st century version of the 20th Century Jews of Europe. It does not matter if we are Christian, Hindu, atheist, homosexual, lesbian, conservative or liberal — we will simply be defined by what we are not. We are not Islamic.

So we must overcome our smaller differences in our alliance against the mono-culture of Islam that wishes to dominate us, and the most important alliance today must be that between the West and Israel.

Western Civilisation was founded on Judeo-Christianity. It was born near here, on the slopes of Mt Sinai where Moses received The Ten Commandments, and it is defended here, in Israel, the focal point of Islam’s attack upon the West.

When we call for freedom and democracy, then by default, we stand with Israel. When we call for truth and honesty with regard to Islam, then we stand with Israel. When we call for bravery, determination and sacrifice in our struggle against Islam then we stand with Israel. When we call for the right to free speech and the right to a peaceful existence, then we stand with Israel.

When we call upon God to help us defeat evil, then we stand with Israel. When we call out the traitors, the appeasers, the propagandists and the anti-Western haters within Europe’s political and media class, then again we stand with Israel.

We are rooted together in this struggle, and rooted together we will stand or we will fall. And if Israel falls then the consequences for the West will be both horrific and cataclysmic. We cannot, we must not, and we will not allow this to happen. Long live Western Civilisation. Long live Israel!

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Just What Japan Really Needs Right Now

The world's favourite feminist pressure group** have been indulging in their particular brand of Ukrainian agitprop again - that is, getting their norks out - this time in support of the Japanese people.

Yes, I know there's not much in evidence in that picture, but some people read this at work doncha know. Plenty here though if you're, ahem, interested and/or have an understanding boss.

Apparently, this is all about solidarity with tsunami victims, and nothing whatsoever to do with ... well, I don't know precisely what they were thinking, to be honest.

FEMEN conducts an action in support of the Japanese people. “Praise those who defeat the dragon!” FEMEN are earnestly inspired by the Japanese people who were able to overcome this disaster. Their strength, their samurai self-control, their heroic actions in time of crisis should serve as examples for all of us. Japan has proved their ability to rise from the ashes before and we believe they will defeat the Dragon before the cherry blossoms bloom.

Huh?

If they had just said they were getting their nips out for the Nips it would have made more sense.

** And I'm a big supporter of feminist causes, as I have mentioned before.

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Who Will Buy the Bonds Japan Needs to Sell?

03/15/11 Baltimore, Maryland – The world seemed to hold its breath yesterday. People watched videos of the tsunami…of the earthquake…of the nuclear reactors. Japan’s nuclear reactors were on the verge of a meltdown.

Here at The Daily Reckoning, we predicted a meltdown in Japan – but not that kind of meltdown!

In January, seers and forecasters turned in their predictions for the year ahead. Now, we are in March, and we have already run into two major events that no one predicted.

First, the Arab world exploded. Now, the blow-ups are happening in the least-explosive part of the world, Japan.

Japanese stocks sold off yesterday. If they were a bargain when we recommended them a couple weeks ago, they are an even bigger bargain today. US stocks didn’t do much of anything.

Perhaps some kind of turning point has been reached.

Japan has been suffering from a manmade disaster for the last 20 years. It is a long, slow, painful form of national economic suicide. Now it is time to pick up the pace. This from Bloomberg:

The Bank of Japan poured a record amount of cash into the financial system and doubled the size of its asset-purchase program to shield the economy from the effects of the nation’s strongest earthquake on record.

The central bank pumped 15 trillion yen ($183 billion) into money markets to assure financial stability amid a plunge in stocks and surge in credit risk. Governor Masaaki Shirakawa and his board also increased their facility that buys assets from government bonds to exchange-traded funds to 10 trillion yen.

“We are providing as much funds as needed to dispel anxiety in financial markets,” Kazushige Kamiyama, an official in charge of the central bank’s money market operations, said before the policy announcement. “We will continue to add ample funds to stabilize financial markets.”

It used to be that central banks were charged with maintaining the integrity of the people’s money. Then, mission creep set in. Maintaining full employment was added to the job description. And then, Ben Bernanke took it upon himself to boost stock prices. Higher stock prices would encourage people to spend and invest, he thought.

And now, the Bank of Japan takes another step. It is playing a leading role in earthquake remediation – like the Red Cross or the National Guard.

The Bank of Japan is going all out. Not only is it putting emergency funds into the economy, it’s also stepping up its own QE program.

What else can it do? It was already doing all it could. The BOJ has been “zero bound” for the last 15 years – meaning, it has been lending money as cheaply as it possibly could. If monetary policy were a pair of pants it would be around Japan’s ankles. And fiscal policy? The country already has $20 of debt for every dollar of tax receipts. What’s left? Thirty dollars, surely – or bankruptcy.

There’s unconventional stimulus too. That’s right…the old printing press…is getting a good workout.

Onward!

The Japanese camel has a remarkably strong back. He’s held up to more than two decades of counter-cyclical stimulus programs…and central government debt that now measures 200% of GDP.

The poor long-suffering beast has seen everything. The Japanese trusted the government with their retirement money. The government spent the money. And yet, bond buyers seem none the wiser. They still lend to the Japanese government at less than 2% yield.

And now the old-timers are beginning to dis-save. That is, after saving so much for their retirements, now they are retired. And now they are drawing down their savings.

This puts the Japanese government is in a real fix. Net savings in Japan are now negative. So, who will buy the bonds Japan needs to sell in order to rebuild its economy? Who will buy the bonds Japan needs to sell in order to rebuild its infrastructure? Who will buy the bonds Japan needs to sell in order to fund its government? Who will buy the bonds Japan needs to sell in order to pay back the people who bought bonds last year…and the year before…and all the way back to 1990?

The answer is likely to be: no one.

Instead, Japan will be forced into more QE, forced to print money to make up for the money she can no longer borrow.

This will have a couple knock-on effects. First, the Japanese famously helped Europe and America finance their deficits and bailouts. Recently, Japan funded a major part of Europe’s bond sales – helping to hold down rates. Also, the last time we looked, Japan had the largest stash of US bonds in the world.

Under pressure to bring money back to the home island, you can expect Japan to be doing some selling – which might be the final straw.

Second, the Japanese are making such an obvious mess of their finances that they are bound to attract attention. Investors might notice that the Japanese aren’t the only ones. As we’ve pointed out several times, the developed economies all now count on low interest rates, huge deficits, and printing press money. Even with these massive in-puts of cash and credit grease, the economy still barely creaks forward. Without the extra grease, they will probably slip backward.

Bill Bonner
for The Daily Reckoning

Since founding Agora Inc. in 1979, Bill Bonner has found success and garnered camaraderie in numerous communities and industries. A man of many talents, his entrepreneurial savvy, unique writings, philanthropic undertakings, and preservationist activities have all been recognized and awarded by some of America's most respected authorities. Along with Addison Wiggin, his friend and colleague, Bill has written two New York Times best-selling books, Financial Reckoning Day and Empire of Debt. Both works have been critically acclaimed internationally. With political journalist Lila Rajiva, he wrote his third New York Times best-selling book, Mobs, Messiahs and Markets, which offers concrete advice on how to avoid the public spectacle of modern finance. Since 1999, Bill has been a daily contributor and the driving force behind The Daily Reckoning . 

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