Israel has closed its embassy in Cairo, prepares for war.

According to The International Business Times, The Middle-East terrorist organization called The Muslim Brotherhood, parent organization for Hamas, Hezbollah and al-Qaida, reports that the Israeli government has closed its embassy in Cairo and brought it entire staff back home. And in a related story, the Israel Intelligence web site DEBKAfile.com reports that deposed Egyptian dictator Hosni Mubarak has already moved vast sums of assets from his Swiss bank accounts to Saudi Arabia.

Source: International Business Times:

Israel closed embassy in Cairo as Mubarak fled: Muslim Brotherhood

By IB Times Staff Reporter | February 12, 2011 12:07 PM EST

Israel has closed its embassy in Cairo as a friendly regime in Egypt bit the dust on Friday, the Muslim Brotherhood announced on its website on Saturday.

There has been no independent confirmation of the news so far, nor is there any clarity on whether the move is temporary or long-term.

"Israel closes embassy in Cairo following news of Mubarak's stepping down," a news post on the Brotherhood's official website said.

The Brotherhood, which has been oppressed by the Egyptian regime for decades, has long articulated popular Egyptian opposition against the Jewish state and Hosni Mubarak's good relations with Tel Aviv.

Israel has been watching with horror the unfolding of the historic popular struggle which resulted in the booting out of Hosni Mubarak.

Tel Aviv had always feared that its decades-old peace with Egypt will crumble if Mubarak is replaced by a populist regime which by all means will be inimical to the Jewish state.

A Gallup poll conducted in 2008 showed that as much as 64 per cent of Egyptians wanted their country to adopt Islamic law, according to a report in Maariv had said.

Other newspapers warned that the rise of Muslim Brotherhood in Egypt will hurt Israel's security. "If the Muslim Brotherhood grabs the reins … the impact on Israel will be immediate," wrote the Jerusalem Post.

Israel had suspended the functioning of the embassy since troubles erupted and had evacuated family members of diplomats.

News of the embassy closing was also reported on the web site PressTV  along with the accompanying video.

Israel shuts embassy in Cairo

Sun Feb 13, 2011 12:1PM

Ramin Mazaheri, Press TV, Cairo

Since the announcement that Hosni Mubarak has stepped down, people have been celebrating across the world. But one group isn't joining the party: Israel's representatives in Cairo.

The embassy here has been shut down indefinitely, and the Israeli flag was removed from the building's roof.

Israel's diplomats and their families have allegedly been evacuated due to security concerns.

Israel has long feared that the fall of the Mubarak could lead to a renunciation of their peace accord with Egypt. The Supreme Council of the Egyptian Armed Forces announced that they will support all current treaties.

Following the 6 Day War and years of negotiations, the two sides signed a peace pact in 1981, but the price has been Egypt's role as the leader of the Arab World.

As recent Wikileaks documents revealed, the Mubarak regime worked closely, if not openly, with Israel to supress Palestinian efforts for self-determination, but it's now unclear if the two sides will collaborate in the future.

But as the recent events in Liberation Square illustrate, swift and unpredictable changes are always possible in Egypt.

Source: DEBKAfile:

Mubarak moves vast assets from European banks to Saudi Arabia
DEBKAfile Exclusive Report February 14, 2011, 2:28 PM (GMT+02:00)

Hosni Mubarak and his family have moved a large part of their assets – guesstimated at between $20 and $70 billion - from European banks to Saudi Arabia and the United Arab Republics against personal guarantees from King Abdullah and Sheik Al Nahyan to block access to outside parties.This is reported by Gulf and West European sources. Tunisian ex-ruler Zein Al Abdain Ben Ali received the same guarantee when he fled his country and received asylum in the oil kingdom.

A Swiss financial source commented: "If he had any real money in Zurich, it may be gone by now."

According to debkafile's sources, the transfers took place on Feb. 12-13. Although a weekend when European banks are closed, high-ranking officials in Riyadh had their managers hauled out of home to execute Mubarak's transfer orders without delay.

The ousted Egyptian ruler was on the phone to Saudi King Abdullah Friday, Feb. 11, immediately after his vice president Omar Suleiman went on state television to announce his resignation and handover of rule to the army. Mubarak called it a military putsch conducted under pressure from Washington. He denied he had resigned or passed any powers to the army. "I had no idea Omar Suleiman was about to read out that statement. I would never have signed it or allowed it to be published," said Mubarak.

The Saudi king voiced understanding for the ex-president's plight and said the Riyadh government was under orders to meet any requests for assistance received from him.

Mubarak views himself still as the rightful president of Egypt. Aware of this, the High Military Council Sunday, Feb. 13, abolished the constitution. Otherwise, Mubarak would have been correct and the military would have had no authority to issue decrees and pass laws without his signature.

The military junta's Western sympathizers were quick to read in the military statement a pledge to call an election in six months. This was not exactly stated. The military council announced that the incumbent (Mubarak-appointed) cabinet would stay in office "for six months or until elections."

Elections cannot be held until a new a new constitution is enacted because the old one has been abolished leaving a void which is filled by martial law and no clear obligation for an election date.

Meanwhile the leftist pro-Obama news media in America is telling everyone that Switzerland has frozen the assets of the ousted Egyptian dictator Hosni Mubarak but they may be talking about the intentions of the Swiss government and not the accomplishments. The mainstream news media in America has often glossed over some minor details and tried to present a cozier picture now and then. Following that news came reports on ABC News that the Egyptian military were looking at writing a new constitution similar to what our Founding Fathers wrote, and that should have made us all feel a lot better. But news reports from independent sources say that the situation in Egypt is far worse and that Israel may be preparing for war.