Eurozone Collapse Accelerating: Euro Slips to 12-year Low

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The common currency dipped as low as 94.61 yen in morning Asian trade. The euro tumbled below 95 yen for the first time in almost 12 years on Monday as dealers rushed to the safe-haven Japanese unit owing to growing fears about Spain s debt crisis. The common currency dipped as low as 94.61 yen in morning Asian trade -- its lowest level since November 2000 -- from 95.38 in New York trade on Friday.

It was changing hands at 94.66 yen by 0320 GMT. The euro was also weak against the dollar, treading around two-year lows at  $1.2112, while the dollar bought 78.15 yen. The euro fetched $1.2152 in New York trade Friday while the dollar was at 78.48 yen. Dealers have been moving out of the euro after the borrowing costs on 10-year Spanish bonds soared to euro-era highs above seven percent, which is seen as unsustainable for the government to service.

With yields so high, unemployment at 24 percent and the economy expected to remain in recession throughout next year, analysts say Madrid will likely need a bailout on top of the one agreed for the country s banks last week. The Japanese currency -- which hit record highs against the dollar last year -- has been increasingly viewed as a safe-haven amid worries about Europe and a lumbering US economic recovery. But the strong currency has taken a toll on Japan s exporters by making their products pricier overseas while shrinking the value of their foreign income.

Officials in Tokyo have repeatedly warned that the yen was overvalued and previously intervened in forex markets in a bid to temper the unit. "As I ve been saying, I will take decisive steps against speculative movement of excessive volatility," Japanese Finance Minister Jun Azumi told reporters. "As far as the current situation is concerned, I m watching it carefully," he said in Tokyo Monday, according to Dow Jones Newswires.

Also Monday, the government said the Japanese economy faces growing downside risks stemming from the European debt crisis, adding that it was increasingly concerned about the outlook for the nation s export sector. In its monthly economic report for July, the Cabinet Office said the overall economy was "on the way to recovery at a moderate pace". But a Cabinet Office official added that: "The downward pressure on our economy through negative effects on exports and financial markets is increasing."

"Against the euro, we ve been seeing quite a strong yen," the official said. National Australia Bank said in a note that "Europe is to blame with a renewed flare up in euro-peripheral bond markets," noting Spain s 10-year borrowing costs spiked to euro-era highs. Japan s Prime Minister Yoshihiko Noda held talks with Bank of Japan governor Masaaki Shirakawa on Monday morning, Jiji Press and other media said. Shirakawa declined to give details of the talks after the meeting, and said only said the pair had "a frank exchange of opinions", the reports said.

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Cursed Terry Jones filing a case against Qur'an - Exposing real globalist agenda behind this ugly drama

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The notorious pastor from Florida named Terry Jones has once again planned to disrespect Qur'an. Unlike his previous BURN QUR'AN DAY plans, this time he has decided to hold a suit against Qur'an on the evening of 20th March at 6 pm in his own church. The cursed pastor said that the world is full of terrorism because of Qur'an. He challenged the Muslims of the entire planet to come and defend their holy book if they want. He said that if Muslims say that Qur'an is a book of peace and Islam is all about peace then they should arrange for their representative who will defend Qur'an on that day.

Cursed pastor Terry Jones

The cursed pastor then used filthy language about Qur'an. He further said that 30 Christians and Muslims will be included in the jury that will announce its final decision at the end of hearing of the case. The cursed pastor continued and said that there are 4 ways to punish Qur'an:

1. Burn it
2. Sink it
3. Tear it apart
4. Give it to the firing squad who riddle it with bullets

He said although he had rolled back his previous plans of burning Qur'an but this time he will not retreat.

Secret societies deliberately crashing USZ

We at PCF see this as a deliberate action of deception being carried out by the secret societies to demonize Islam to not only slow down the explosive Islamization rate throughout the world, but also also to bring about the final twists in the globally engineered economic crack that they are carrying out right now by purposefully hastening the demise of USZ and dollar as the World Reserve Currency and shifting their control centers primarily in the global banking sector under the new and yet concealed IMF suggested currency named BANCOR. We smell a deep connection between the recent deliberate acts of Islamophobia and outrageously fast rate of wealth transfer from mainstream banks into Chinese banks and also the humongous investments being made by the notorious richest Zionist families of the world in Gold and Copper Industry since the start of 2009.

Enticing Fury

Pakistan Cyber Force

IMF draculas upset about restoration of Petrol prices in Pakistan

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The IMF mafia has asked Pakistan to cut its energy subsidies saying they were "crippling" its economy, just hours after beleaguered puppet Prime Minister Yousuf Raza Gilani bowing to political and civilian pressure reversed the controversial fuel price hike. They are unable to digest the fact that the new burden that was put on Pakistan's economy in the form of raised petrol prices in the name of "helping the economy" was lifted by the pressure built inside the country. Shamelessly terming the energy subsidies as "inefficient and untargeted", IMF spokeswoman Caroline Atkinson said these subsidies were consuming a large part of the country's budget.

Atkinson said bulk of the energy subsidies were being cornered by people of higher income group and large companies and Pakistan government should make efforts that its spending on energy subsidies should go towards the social sector, health, education and dealing with the after impact of the floods. IMF spokeswoman completely forgot that social sector, health, education and dealing with flood impact would not be possible if poor are directly guided towards death by this shamelessly hypocritical stance of IMF, the masterminds of crippling third world countries in the name of "reviving their economies" and then later on stealing their natural resources in return of worthless speculative dollar based loans.

The International Monetary Authority in 2008 tried its level best to make Pakistan bankrupt in 2008 and has extended a speculative loan for the country in order to justify it's presence in the region for it's larger despicable aims. "Just to clarify, the action on energy subsidies, petroleum prices, was not a part of the IMF program. However, energy subsidies consume a large part of the budget", Atkinson said at a news briefing. She said the IMF arrangement with Pakistan was due to come to an end at the end of December but was extended for nine months so it now will expire at the end of September. "That's to give space for us to continue to discuss with the government the two further disbursements that are allowable under the program and that continues to be the case. What's most important for our arrangement is the ability to discuss with the government, to agree with the government, on the measures that they are going to put in place the economy can support", she said. She however didn't mention the actual long term plans of IMF in the region behind the curtains of "helping" that they were longing for celebrating Pakistan's economic falling apart on the pattern of Yugoslavia and 1970's UK which they couldn't do so far.

Enticing Fury

Pakistan Cyber Force