Yesterday, Israeli defence minister and former Israeli Defence Force (IDF) chief of staff Moshe Ya'alon announced that Operation Protective Edge marks the beginning of a protracted assault on Hamas. The operation "won't end in just a few days," he said, adding that "we are preparing to expand the operation by all means standing at our disposal so as to continue striking Hamas."

This morning, he said:

"We continue with strikes that draw a very heavy price from Hamas. We are destroying weapons, terror infrastructures, command and control systems, Hamas institutions, regime buildings, the houses of terrorists, and killing terrorists of various ranks of command... The campaign against Hamas will expand in the coming days, and the price the organization will pay will be very heavy."

But in 2007, a year before Operation Cast Lead, Ya'alon's concerns focused on the 1.4 trillion cubic feet of natural gas discovered in 2000 off the Gaza coast, valued at $4 billion. Ya'alon dismissed the notion that "Gaza gas can be a key driver of an economically more viable Palestinian state" as "misguided."

So The Caliph is now a global superstar. Ever since Dr Ibrahim al-Badri of Samarra, a minor Sunni cleric who impersonates neo-medieval Caliph Abu Bakr al-Baghdadi, showed up in the stone pulpit of a Mosul mosque at the start of Ramadan, he's been on a roll.

He fully advertised his piece of transnational real estate - from the suburbs of Aleppo to Mosul (and promised more takeovers). He cut his own video - essentially his own, a monotone rap, dressed in trademark Men in Black regalia. He eliminated the competition, essentially by killing them all. He exalted the mujahid, inviting them to follow jihad in the name of Allah. He condemned miscreants and hypocrites, exalting the "victory of Muslims" from "the West to the East".

Modestly sporting a US$7,000 watch (or Chinese replica) and asking for "corrections" in his behavior, The Caliph announced that his Islamic State (IS) business, former ISIS, is not only about the Levant. Want an IS passport? Just ask The Caliph.

He firmly set his sights on conquering Rome (Saracens sacked St Peter's in 846); "You will conquer Rome and will be masters of the world." It won't happen before Sunday though, so Pope Francis can watch Argentina against Germany in peace without fear of decapitation.

Right now Israel is bombing Gaza into oblivion... again. It doesn't really matter when you read this. Two years from now you will probably be able to overlay the gist of the story over the headlines of the day, and it will still be relevant.

What was the excuse this time? Oh right... three Jewish teenagers were killed by some unknown person or persons. Most assume that someone was a Palestinian, but there was no trial. Israel of course decided that they would be handling this like any civilized country handles a murder case: by bombing an entire city.

"Israel under renewed Hamas attack": this was last night's BBC headline on the escalating bloodshed in Gaza. It is as perverse as Mike Tyson punching a toddler, followed by a headline claiming that the child spat at him. As Elizabeth Tsurkov, a Tel Aviv-based Israeli human rights activist, tweeted: "We are targeted by mostly shitty rockets. Gazans are being shelled with heavy bombs. We have shelters, sirens, Iron Dome. They have 0."

There is no defence for Hamas firing rockets into civilian areas, and as sirens wail in Israel, the fear among ordinary Israelis should not be ignored or belittled. But the media coverage hardly reflects the reality: a military superpower armed with F-15 fighter jets, AH-64 Apache helicopters, Delilah missiles, IAI Heron-1 drones and Jericho II missiles (and nuclear bombs, for that matter), versus what David Cameron describes as a "prison camp" firing almost entirely ineffective missiles. Twenty-seven Palestinians are reported to have died in Gaza - and, mercifully, no Israelis have been killed by Hamas rockets - and yet the BBC opts for the Orwellian "Israel under renewed Hamas attack".

The French government wants to break the monopoly the dollar has on international transactions after the country's largest bank, BNP Paribas, was slapped with a record $9 billion fine and a 1-year dollar trading ban.

Michel Sapin, the French finance minister, called for a "rebalancing" of the currencies used for global payments, saying the BNP Paribas case should "make us realize the necessity of using a variety of currencies" the Financial Times reports.

"We [Europeans] are selling to ourselves in dollars, for instance when we sell planes. Is that necessary? I don't think so. I think a rebalancing is possible and necessary, not just regarding the euro, but also for the big currencies of the emerging countries, which account for more and more of global trade," the finance minister told the FT at a conference over the weekend.

Washington - Citing a series of fatal malfunctions dating back to 1777, flag manufacturer Annin & Company announced Monday that it would be recalling all makes and models of its popular American flag from both foreign and domestic markets.

Representatives from the nation's leading flag producer claimed that as many as 143 million deaths in the past two centuries can be attributed directly to the faulty U.S. models, which have been utilized extensively since the 18th century in sectors as diverse as government, the military, and public education.

"It has come to our attention that, due to the inherent risks and hazards it poses, the American flag is simply unfit for general use," said Annin & Company president Ronald Burman, who confirmed that the number of flag-related deaths had noticeably spiked since 2003. "I would like to strongly urge all U.S. citizens: If you have an American flag hanging in your home or place of business, please discontinue using it immediately."

This week in Moscow President Vladimir Putin made a major foreign policy statement, while speaking to a worldwide gathering of Russian ambassadors and permanent diplomatic representatives. According to Putin, the West did not give Moscow a choice, but to move to annex Crimea last March to defend Russians and Russian-speakers "that consider themselves part of the wider Russian world" ("Ruskiy Mir"). Putin insisted that NATO planned to swiftly move its forces into Sevastopol and radically change the balance of power in the region, depriving Russia of everything it had been fighting for since the times of Tsar Peter the Great.

According to Putin, the present crisis in Ukraine is a manifestation of the core Western policy of "deterring Russia" that continued despite the end of the Cold war. Putin announced Moscow would continue to defend the rights of Russian "compatriots" living abroad "using political, economic and self-defense humanitarian operations." He declared that the time of U.S. world domination has ended and Russia will be reintegrating the Eurasian landmass [former USSR], while promoting better relations with Europe, "which is our natural partner." The Russian foreign ministry was ordered to work on preparing "a joint space of economic and humanitarian cooperation from Lisbon to Vladivostok," based on absolute noninterference in internal political matters and excluding the U.S. Putin accused Washington of blackmailing Paris to stop the delivery of the French-built Mistral helicopter-carrying assault ships to the Russian Navy (kremlin.ru, July 1). The first Mistral is planned for delivery this year and it could be stationed in Sevastopol (Rossyskaya Gazeta, June 25).

Putin's speech was controversial: while accusing the West of ignoring international law and interfering in others' affairs by promoting so called "democracy," Putin strongly asserted Russia's right to intervene in other nations internal affairs "to defend Russian compatriots abroad." The Kremlin rejects the West ideologically, politically and militarily, but Putin's speech did not spell out fully the practical part of the Russian foreign policy agenda (gazeta.ru, July1).

On July 4th, the United States will celebrate Independence Day once again. But who in the world are we trying to kid? Our founders intended to create a society where freedom and liberty would be maximized, but that is not what America looks like today. Instead, we live in a country that literally has millions of laws, rules and regulations.

We have a government that is obsessed with spying on the entire planet and that tries to watch, monitor, track and record as much information about all of us as it possibly can. A "Big Brother" surveillance grid is being constructed all around us, and our militarized police are becoming more brutal with each passing day.

Sadly, most Americans don't seem too alarmed by any of this. In fact, a new Gallup survey has found that 79 percent of Americans are "satisfied" with the level of freedom in this nation. That is a very alarming statistic.

If most people believe that everything is "just fine", then our leaders are going to feel free to keep doing the same things that they have been doing.

That is why it is so frustrating that so many American "sheeple" appear to be so apathetic about the loss of our freedoms and our liberties.

But it was not all bad news in the Gallup survey. Let's take a look at the good news first...

Putin's economic advisor reveals the massive militarization of Ukraine, intended not only to crush Donbass, but to re-take Crimea, and be the puppets to start another world war for further consolidation of U.S. hegemony over Eurasia.

A final number for real US GDP growth in the first quarter of 2014 was released today. The number is not the 2.6% growth rate predicted by the know-nothing economists in January of this year. The number is a decline in GDP of -2.9 percent.

The negative growth rate of -2.9 percent is itself an understatement. This number was achieved by deflating nominal GDP with an understated measure of inflation. During the Clinton regime, the Boskin Commission rigged the inflation measure in order to cheat Social Security recipients out of their cost-of-living adjustments. Anyone who purchases food, fuel, or anything knows that inflation is much higher than the officially reported number.

It is possible that the drop in first quarter real GDP is three times the official number.

Regardless, the difference is large between the January forecast of +2.6 percent growth and the decline as of the end of March of -2.9 percent.

Any economist who is real and unpaid by Wall Street, the government, or the Establishment knew that the +2.6 percent forecast was a crock. Americans' incomes have not grown except for the one percent, and the only credit growth is in student loans, as those many who cannot find jobs mistakenly turn to education is the answer.