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January 15th, 2007

Not A Good Sign…

Via Raw Story…

Major investment bank issues warning on strike against Iran

Bank sees February or March timeline if Israel strikes

Warning that investors might be "in for a shock," a major investment bank has told the financial community that a preemptive strike by Israel with American backing could hit Iran’s nuclear program, RAW STORY has learned.

The banking division of ING Group released a memo on Jan. 9 entitled "Attacking Iran: The market impact of a surprise Israeli strike on its nuclear facilities."

ING is a global financial services company of Dutch origin that includes banking, insurance, and other divisions. The report was authored by Charles Robinson, the Chief Economist for Emerging Europe, Middle East, and Africa. He also authored an update in ING’s daily update Prophet that further underscored the bank’s perception of the risks of an attack.

ING’s Robertson admitted that an attack on Iran was "high impact, if low probability," but explained some of the reasons why a strike might go forward. The Jan. 9 dispatch, describes Israel as "not prepared to accept the same doctrine of ‘mutually assured destruction’ that kept the peace during the Cold War…

Robertson suggests a February-March 2007 timeline for several reasons…

Well right now we are advising our clients to put all they can into canned food and shotguns…

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