Headlines:

 

• Ruble Crashes past Historic 50 to U.S. Dollar as OPEC Lets Oil Price Fall
• Pope Francis Urges Religious Tolerance on Rare Turkey Visit
• Gen Sharif's Stance on Terrorists Pleases US

 

 

Details:

 

Ruble Crashes past Historic 50 to U.S. Dollar as OPEC Lets Oil Price Fall

The ruble plunged on Friday, falling to an unprecedented 50 versus the U.S. dollar after OPEC's refusal to implement production cuts caused oil prices to nosedive. The Russian currency reached 50.01 against the dollar in after-hours trading shortly before 9:30 p.m., extending a dramatic week-long tumble that raises the possibility of intervention by the Central Bank to steady the market. The ruble, which is at historic lows, has lost over 11 percent against the dollar since Monday, one of the worst performing weeks on record. The Organization of Petroleum Exporting Countries (OPEC) said Thursday it would not curb output to shore up prices, prompting oil to shed over $5 in a day to trade at four-year lows. The price of Brent crude, the international oil benchmark, plummeted below $70 a barrel during late trading on Friday, despite stabilizing earlier in the day at about $73 a barrel. Russian President Vladimir Putin said Friday he saw nothing surprising in OPEC's decision, nor the subsequent oil price fall. "It's an inevitable reaction," Putin said, according to a transcript on the Kremlin's website. He added that he did not expect oil markets to balance themselves until the middle of next year.  Russia depends for about half its budget revenues on energy exports, so the falling price of crude has an immediate knock-on effect on the Russian currency and stocks. The ruble has lost almost 35 percent of its value against the dollar this year in the face of weakening oil and Western sanctions on Moscow over the Ukraine crisis. The Central Bank implemented a free floating currency earlier this month after spending over $70 billion to defend the ruble since January, but has said that it retains the right to sell foreign currency reserves on the market if there is a threat to financial stability. "Perhaps given the dreadful geopolitical setting the strategic importance of the Central Bank's currency reserves has increased and they want to conserve these at all costs," said Timothy Ash, an emerging markets analyst at Standard Bank, in a note Friday. "This may well suggest that the ruble will continue to take the strain as long as oil prices remain under downside pressure." [Source: Moscow Times]

OPEC's decision not to support the price of oil is highly suspicious, given that the current oil price does not allow Saudi Arabia to break even. One can only conclude that the gulf countries are colluding with the US to bring down the price of oil to hurt Russia. Once again, the assets of the Muslim ummah are being used by the colonialist powers to safeguard their interests.

Pope Francis Urges Religious Tolerance on Rare Turkey Visit

Pope Francis called Friday for religious tolerance and dialogue to counter extremism in the Middle East as he met with Turkey's leaders on the first day of a rare papal visit to the predominantly Muslim country. Speaking in Ankara alongside Turkish President Recep Tayyip Erdogan, the Pope called on people of all faiths to show respect for human life, dignity and religious freedom. "Fanaticism and fundamentalism, as well as irrational fears which foster misunderstanding and discrimination, need to be countered by the solidarity of all believers," he said. Terrorist violence shows no sign of abating in Iraq and Syria, with grave persecution against Christians and the Yazidi minority in particular, Francis said. "Hundreds of thousands of persons have been forced to abandon their homes and countries in order to survive and remain faithful to their religious beliefs," he said. Turkey, which has generously welcomed a great number of refugees, is directly affected by this tragic situation on its borders; the international community has the moral obligation to assist Turkey in taking care of these refugees. "At the same time, Francis said, Turkey has a "great responsibility," because of its history and location bridging East and West, to help bring different communities together and promote the path to peace. In his address, Erdogan highlighted what he said was a disturbing trend of increased racism and Islamophobia in the West, at the same time as Islamist extremism wracks parts of the Middle East. The world must come together if it wants to combat terrorism, he said. The Turkish leader also suggested the West should not turn a blind eye to abuses committed by Syrian President Bashar al-Assad while it pursues ISIS. The timing of the Pope's visit, in this period of unrest, is extremely significant, Erdogan added, voicing hope that it would lead to an "auspicious era" of improved relations in the world. Francis also met with Prime Minister Ahmet Davutoglu and will hold talks with the head of the country's religious affairs directorate, Mehmet Gormez. [ Source: BBC]

The Pope who dare not address secular fanatics in the West about perpetrating state terrorism in the name of freedom and democracy, visits Turkey to tell its people more needs to be done. When will the rulers of the Muslim world wake up from their slumber and subservience to the West? The only way to prevent the chaos unfolding in the Muslim is end the interference of Western countries through re-establishment of the Khilafah "Caliphate" state. There was a time when the Uthmani Khilafah "Caliphate" was dictating the politics of Europe and no country dared to persecute Muslims. Furthermore, under the Uthmani Khilafah "Caliphate" tolerance was so prevalent that Jews and Christians flourished. Yet, all of these examples escaped Erdogan's memory as he sought to please the Pope.

Gen Sharif's Stance on Terrorists Pleases US

Gen Raheel Sharif is an extremely articulate spokesperson for Pakistan's interests, says Dan Feldman, US Special Representative for Afghanistan and Pakistan. In an interview to Dawn, Ambassador Feldman also said that US forces staying in Afghanistan after 2014 would only fight the Taliban only if they directly threatened them, supported Al Qaeda or posed a strategic threat to the Afghan National Security Forces. He also dispelled the impression that the FBI action against Ambassador Robin Raphel was meant to send the message that it was no longer kosher for Americans to be friends with Pakistan. "Gen Sharif is an extremely articulate spokesperson for Pakistan's interests," said Ambassador Feldman while talking about the Pakistan army chief's much-talked about visit to the United States last week. "In Washington, he received very broad support for Pakistan's counter-terrorism campaign," he said. During his visit, Gen Sharif met a wide range of US officials - in both military and civil establishments - as part of an effort to rebuild a long-term relationship between the two militaries. "We had very straightforward, constructive and honest discussions on the need to go after all terrorists, including the Haqqani network, and to make sure that all terrorist safe havens are shut down," said Ambassador Feldman when asked if the visit achieved its goals. "Yes, we all recognise that significant progress has been made" in the fight against terrorists since the North Waziristan operation, he said. "We also recognise that more work needs to be done, but there's true commitment from Gen Sharif to deliver on this," said the US envoy. "People in Washington were very pleased with his commitment" to fighting all terrorists, including the Haqqani network, he said. Ambassador Feldman noted that the effort to rebuild a long-term relationship between the two militaries had began several years ago. "The visit continues that process and helps strengthen the relationship," he said. [Source: Dawn]

General Sharif follows a long list of distinguished army officials like Kayani and Musharraf who also sought to please their American masters. In the end, they were discarded by the US, and a similar fate awaits General Sharif.