Jun 072019
 
 June 7, 2019  Posted by at 9:44 am Finance Tagged with: , , , , , , , , ,


René Magritte L’empire des lumières 1949

 

Assange Persecution Very Similar To Historic Witch-Hunts – Melzer (Can.)
Belmarsh Prison Inmate Provides Photos of Julian Assange (Cassandra)
Police Raids Raise Fears Of Australian Media Crackdown (G.)
The Fed Can’t Help Housing or Autos at This Point (DDMB)
Fed Signals It Will Use QE Aggressively To Fight Next Recession (MW)
That America Is Gone (PCR)
Key Figure Mueller Linked To Russia Was State Department Intel Source (Hill)
Putin Says Russia Prepared To Drop START Nuclear Arms Treaty (AFP)
Russia Must Change Behavior For Better Relations: UK PM May’s Spokeswoman (R.)
Next Tory PM Will Not Be Able To Suspend Parliament – Bercow (G.)
‘Surveillance Capitalism’: Toronto Urged To Abandon Smart City Project (G.)
Microplastics Have Invaded The Deep Ocean – And The Food Chain (NPR)

 

 

Excerpts from an interview the Canary had with UN torture expert Nils Melzer

Assange Persecution Very Similar To Historic Witch-Hunts – Melzer (Can.)

In today’s information age, the media have an extraordinary power to shape public opinion, and no one is exempt from their influence. The media are a veritable ‘fourth power’ in the state next to the traditional branches of government, controlling not only what is said and shown, but also what is not disseminated and, therefore, is withheld from the public. This enormous power comes with an equally enormous ethical responsibility. Many media outlets and individual journalists have shown a remarkable lack of critical independence and have contributed significantly to spreading abusive and deliberately distorted narratives about Mr Assange.

When the media find it more appropriate to spread humiliating jokes about Mr Assange’s cat, his skateboard and his faeces, than to challenge governments consistently refusing to hold their officials accountable for wars of aggression, corruption and serious international crimes, they demonstrate a deplorable lack of responsibility, decency and respect not only towards Mr Assange, but also towards their own readers, hearers and viewers, whom they are supposed to inform and empower. It is a bit like being served poisoned junk food at a restaurant – a betrayal of trust with potentially serious consequences.

[..] By making Mr Assange ‘unlikeable’ and ridiculous in public opinion, an environment was created in which no one would feel empathy with him, very similar to the historic witch-hunts, or to modern situations of mobbing at the workplace or in school. Once totally isolated, it would be easy to violate Mr Assange’s most fundamental rights without provoking public outrage. If the involved states get away with persecuting Mr Assange without ever prosecuting the crimes exposed by him, they will have established a dangerous precedent of impunity threatening freedom of press and opinion worldwide, and they will also have seriously undermined the accountability of government officials for crime and corruption under the rule of law. So there is much at stake here for every single one of us, and everyone should use the democratic means at their disposal to inform themselves, make their voice heard and hold their government accountable.

Read more …

• Note: the photos are from before Assange fell gravely ill.

• New charges vs Assange, to be filed on June 14, are to be based on testimony from a convicted pedophile, Sigi Thordarson, who stole $50,000 from WikiLeaks, then fled to the FBI when caught.

• Next hearing, planned for 12 June has now also been moved to 14 June. The hearing will be in Belmarsh Magistrates’ Court.

• Kim Dotcom on Twitter: “The US Department of Justice has nothing to do with Justice. Here’s just another example. After everything I’ve seen so far I can say with confidence that there will be no extradition of Julian Assange. The charges are ludicrous and the evidence is non-existent. Typical DOJ.”

Belmarsh Prison Inmate Provides Photos of Julian Assange (Cassandra)

The Gateway Pundit has obtained exclusive testimony, as well as photos, from a fellow inmate of imprisoned WikiLeaks founder Julian Assange inside London’s highest security prison. The inmate, who wishes to remain anonymous, sent multiple photos of Assange from inside Belmarsh maximum security prison and spoke to The Gateway Pundit about the WikiLeaks founder’s situation using a contraband phone he has inside. Along with the photos from inside the prison, the inmate pushed a fundraiser — causing supporters to worry that he was attempting to extort WikiLeaks or harm Assange by violating his privacy. The Gateway Pundit reached out to him to get his side of the story.

This reporter spoke to the inmate through a series of online messages and a phone call for multiple hours on Wednesday evening. At the beginning of the conversation I asked him if he was a prisoner or someone who works there — and if his motive was to extort money from the organization. “I’m in prison right now,” he said, sending a photo from inside his cell. “Extort him for what reason? He exposed the biggest scandals in the world. Whose side do you think someone in prison would be on? The government who have us locked up in here or a fellow prisoner who actually doesn’t deserve to be here?” The photos feature Assange prior to his illness and being moved to the prison’s hospital wing last month. We have not been able to verify if Assange is aware of the existence of the photographs.

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Does Australia have any laws at all?

Police Raids Raise Fears Of Australian Media Crackdown (G.)

Annika Smethurst, the political editor of Australia’s Sunday Telegraph newspaper, was preparing to leave her Canberra home shortly before 9am on Tuesday morning. When she heard a knock at the front door, she assumed it was her cleaner. Instead there were five federal police officers on the doorstep, pursuing evidence relating to a story she had written more than 12 months earlier. The police presented their warrants. The journalist told them she wanted a lawyer. Two legal representatives arrived at her house shortly afterwards. The search started in Smethurst’s bedroom. While that was under way, another two officers arrived with electronic equipment to go through her phone and computers. The police wanted access to all her electronic equipment.

They asked for her passwords, downloaded the contents of her phone on to their computer and used keyword searches to check the stored data. While the electronic dump was under way, police looked under Smethurst’s bed, through her clothes, handbags and sewing basket, through the spare room, through her cookbooks and stored Christmas decorations. They picked up 20 USBs in the house and checked them. The search spanned seven hours, with the group leaving about 4.30pm. “I felt shocked,” Smethurst told the Guardian. “I was very cooperative, and to be fair, they were too. They had a warrant. There was very little I could do apart from sitting down and watching them go through the search.

“But it’s a very confronting thing, watching somebody go through the house you’ve lived in for five years. It was uncomfortable. “I was very stressed when they were on my phone. Obviously as a journalist, my business model relies on people being able to ring me and talk to me anonymously, with that information not being seen by anyone else, then all of a sudden, police had access to it, and it was an incredible invasion of privacy.” Tuesday’s raid in Canberra, which came without any warning, was connected to a scoop revealing a plan by one of Australia’s surveillance agencies, the Australian Signals Directorate, to broaden its powers to spy on citizens without their knowledge. It was published in April 2018, and referred immediately for police investigation.

Read more …

Maxumum bubble has been reached.

The Fed Can’t Help Housing or Autos at This Point (DDMB)

Hopes are running high that potential interest rate cuts by the Federal Reserve will support the auto and housing sectors, two parts of the economy that are sensitive to borrowing costs. The risk, though, is rising that any relief won’t come until after these critical leaders of the current economic cycle have already fallen into contraction. Headed into the promotion-heavy Memorial Day weekend, analysts spoke of automakers finally succumbing to the need to spur car sales with deep discounts. What’s remarkable is the line manufacturers have been able to hold off on incentives, which fell for 11 straight months, according to TrueCar Inc.’s ALG data and analytics unit. While shareholders have applauded the safeguarding of profit margins as inventories piled up, the pressure to match supply and demand has given way to three months – and counting – of production cuts.

The rapid rate at which auto layoffs are rising suggest a spillover into the broader economy. Challenger, Gray and Christmas notes that the almost 20,000 announced layoffs in the first four months of the year were up 207% over the same period of 2018. “Job cuts in this sector are likely to continue, especially with the implementation of additional tariffs on Chinese goods,” Andrew Challenger, the firm’s vice president, wrote in a report. “Automakers and suppliers will feel the pressure, which may lead to more cuts.” It’s one thing to have a continuation of losses in the beleaguered retail sector, but the loss of high-paying jobs in both autos and industrials threaten to further hobble the housing market.

Connecting autos to housing isn’t a stretch. Fed officials have maintained that the recent slowdown in inflation would be “transitory” in nature. History, however, reminds us that one form of inflation is anything but passing once in nature. Home prices largely held their gains after recovering in the wake of the last recession. Recently, though, there’s been a downtick in the rate of those gains. Home price appreciation fell to an 11-month low in April, based on a three-month moving average of purchases using Federal Housing Finance Agency data.

Read more …

Just bonkers.

Fed Signals It Will Use QE Aggressively To Fight Next Recession (MW)

The Federal Reserve’s two-day Chicago strategy conference laid the groundwork for the aggressive use of asset purchases, known as quantitative easing, to counter the next recession, experts who attended the forum said. With short-term interest rates in a range of 2.25%-2.5%, the Fed does not have a lot of ammunition to fight the next downturn. In the past, the Fed was able to slash rates by 5 percentage points to stimulate the economy as needed. So the Fed is going to use “pretty aggressive, desperate, measures,” to stem the next recession, said Adam Posen, president of the Peterson Institute for International Economics. “If you thought you saw QE before, this is going to be QE squared,” Posen said. The Fed bought almost $4 trillion in assets during the Great Recession some 10 years ago to bring down long-term interest rates and stimulate the economy.


Posen and former Fed governor Randy Krozner said the Fed used the conference to prepare the public, lawmakers and the markets to the likely implementation again of this unconventional policy tool. Fed Chairman Jerome Powell and his top deputy, Vice Chairman Richard Clarida, want to short-circuit any political opposition and bottlenecks that greeted former Fed chief Ben Bernanke’s first use of asset purchases during the Great Recession. “The next time policy rates hit the effective lower bound [i.e. zero] — and there will be a next time — it will not be a surprise. We are now well aware of the challenges the ELB presents, and we have the painful experience of the global financial crisis and its aftermath to guide us,” Powell said in a speech opening the conference.

Read more …

“Corporate boards and executives achieved “performance” by reducing labor costs by moving jobs offshore and by using profits and borrowing in order to buy back the company’s shares..”

That America Is Gone (PCR)

As the Federal Reserve’s low interest rate policy has not served ordinary Americans or spurred investment in new plant and equipment, who has it served? The answer is corporate executives and shareholders. As the liquidity supplied by the Federal Reserve has gone mainly into the prices of financial assets, it is the owners of these assets who have benefited from the Federal Reserve’s policy. Years ago Congress in its unwisdom capped the amount of executive pay that could be deducted as a business expense at one million dollars unless performance related. What “performance related” means is a rise in profits and share price.

Corporate boards and executives achieved “performance” by reducing labor costs by moving jobs offshore and by using profits and borrowing in order to buy back the company’s shares, thus driving up the price. In other words, corporate leaders and owners benefited by harming the US economy, the careers and livelihoods of the American work force, and their own companies. This is the reason for the extraordinary worsening of the income and wealth distribution in the United States that is polarizing the US into a handful of mega-rich and a multitude of have-nots.

The America I grew up in was an opportunity society. There were ladders of upward mobility that could be climbed on merit alone without requiring family status or social and political connections. Instate college tuition was low. Most families could manage it, and the students of those families that could not afford the cost worked their way through university with part time jobs. Student loans were unknown. That America is gone. The few economists capable of thought wonder about the high price/earnings ratios of US stocks and the 26,000 Dow Jones when stock buy-backs indicate that US corporations see no investment opportunities. How can stock prices be so high when corporations see no growth in US consumer income that would justify investment in the US?

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It’s on. And don’t worry, you don’t have to choose a side.

Key Figure Mueller Linked To Russia Was State Department Intel Source (Hill)

In a key finding of the Mueller report, Ukrainian businessman Konstantin Kilimnik, who worked for Trump campaign chairman Paul Manafort, is tied to Russian intelligence. But hundreds of pages of government documents — which special counsel Robert Mueller possessed since 2018 — describe Kilimnik as a “sensitive” intelligence source for the U.S. State Department who informed on Ukrainian and Russian matters. Why Mueller’s team omitted that part of the Kilimnik narrative from its report and related court filings is not known. But the revelation of it comes as the accuracy of Mueller’s Russia conclusions face increased scrutiny.

The incomplete portrayal of Kilimnik is so important to Mueller’s overall narrative that it is raised in the opening of his report. “The FBI assesses” Kilimnik “to have ties to Russian intelligence,” Mueller’s team wrote on page 6, putting a sinister light on every contact Kilimnik had with Manafort, the former Trump campaign chairman. What it doesn’t state is that Kilimnik was a “sensitive” intelligence source for State going back to at least 2013 while he was still working for Manafort, according to FBI and State Department memos I reviewed. Kilimnik was not just any run-of-the-mill source, either. He interacted with the chief political officer at the U.S. Embassy in Kiev, sometimes meeting several times a week to provide information on the Ukraine government.

He relayed messages back to Ukraine’s leaders and delivered written reports to U.S. officials via emails that stretched on for thousands of words, the memos show. The FBI knew all of this, well before the Mueller investigation concluded. Alan Purcell, the chief political officer at the Kiev embassy from 2014 to 2017, told FBI agents that State officials, including senior embassy officials Alexander Kasanof and Eric Schultz, deemed Kilimnik to be such a valuable asset that they kept his name out of cables for fear he would be compromised by leaks to WikiLeaks.

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Worst idea ever.

Putin Says Russia Prepared To Drop START Nuclear Arms Treaty (AFP)

President Vladimir Putin said Thursday Russia was prepared to drop a nuclear weapons treaty with the US and warned of “global catastrophe” if Washington keeps dismantling an international arms control regime. Speaking to heads of international news agencies at an economic forum in the city of Saint Petersburg, Putin said Washington showed no genuine interest in conducting talks on extending the New START treaty which caps the number of nuclear warheads well below Cold War limits. “If no-one feels like extending the agreement — New START — well, we won’t do it then,” Putin said.


“We have said a hundred times that we are ready (to extend it),” Putin said. “There is no formal negotiating process.” The treaty was signed by US President Barack Obama and Russian counterpart Dmitry Medvedev in Prague in 2010. It expires in 2021. Together with another agreement known as the Intermediate-Range Nuclear Forces (INF) treaty, New START is considered a centrepiece of superpower arms control. Moscow suspended participation in the INF treaty in March after President Donald Trump’s White House announced it would ditch the key agreement for alleged Russian violations of the terms.

Putin said he was puzzled by the absence of a global discussion. “Will anyone think about it, speak up, show some concern?” the Russian leader said. “No — total silence.” Putin said he discussed the issue with Trump during their phone talks in early May. “Donald told me that he is also concerned,” Putin said, adding that US Secretary of State Mike Pompeo whom he hosted the same month also spoke “in a similar vein.” “If they think like this, then it is necessary to take practical steps towards joint work,” the Kremlin chief said. Putin said all nuclear powers — both officially recognised as possessing nuclear weapons and not — should take part in future talks. “We have to create a broad platform for discussions and decision-making,” Putin said. “That could be the light at the end of the tunnel.”

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Ha ha. Full of emptiness.

Russia Must Change Behavior For Better Relations: UK PM May’s Spokeswoman (R.)

Britain’s relationship with Russia can only change when Moscow changes its behavior, Prime Minister Theresa May’s spokeswoman said on Thursday, after President Vladimir Putin said he hoped for better relations under her successor. Putin said he hoped a new British prime minister would work toward improving bilateral relations, badly soured last year by the poisoning of a former Russian double agent in England that London blamed on Moscow. The spokeswoman told reporters: “We have been clear that Russia’s pattern of aggression and destabilizing behavior undermines its claims to be a responsible international partner. “We will continue to engage with Russia on matters of international security as this is in the UK’s national interest … however the PM has made clear on numerous occasions we can only have a different relationship if Russia changes its behavior.”

Read more …

Don’t like parliament? No problem.

Next Tory PM Will Not Be Able To Suspend Parliament – Bercow (G.)

John Bercow, the Speaker of the House of Commons, has said it is “blindingly obvious” that the new Conservative prime minister will not be able to suspend parliament to push through a no-deal Brexit. The Speaker said it would not be an option after outrage across the political spectrum when the leadership hopeful Dominic Raab suggested he might try to take that path. “That is simply not going to happen. It is just so blindingly obvious that it almost doesn’t need to be stated, but apparently, it does and therefore I have done,” he told MPs. Matt Hancock, another Tory leadership contender, called for all his rivals to rule out the possibility of ending the parliamentary session to stop MPs from voting on whether there should be a no-deal Brexit. He said it undermined parliamentary democracy and risked a general election.


Rory Stewart, another contender, called the suggestion “unconstitutional” and “undemocratic”, adding: “It wouldn’t work.” Andrea Leadsom and Boris Johnson are also among those who have said they would not pursue such an option in order to take the UK out of the EU without a deal on 31 October. Amid suggestions it could even be unconstitutional, Valerie Vaz, the shadow leader of the Commons, asked the government for clarity on whether prorogation to avoid a decision from parliament would be allowed. In response, Mel Stride, the leader of the Commons, said prorogation was “ultimately in the gift of the Queen”, adding: “What I would say is, that I do think Her Majesty should be kept out of the politics of our parliament.

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I guess it’s just that “smart city” sounds kinds good. Better than “surveillance city”.

‘Surveillance Capitalism’: Toronto Urged To Abandon Smart City Project (G.)

A “smart city” project in Canada has hit yet another snag, as mounting delays and privacy concerns threaten the controversial development along the Toronto’s eastern waterfront. The 12-acre Quayside project, a partnership between Google’s Sidewalk Labs and the city of Toronto, has come under increasing scrutiny amid concerns over privacy and data harvesting. This week, the US venture capitalist Roger McNamee warned that technology companies such as Google cannot be trusted to safely manage the data they collect on residents. “The smart city project on the Toronto waterfront is the most highly evolved version to date of … surveillance capitalism”, he wrote to the city council, suggesting Google will use “algorithms to nudge human behavior” in ways to “favor its business”.


McNamee, an early investor in Facebook and Google, is co-founder of Silver Lake Partners, one of the world’s largest technology investors. But in recent years, he has soured on many of the technology giants and their handling of data and privacy concerns. “No matter what Google is offering, the value to Toronto cannot possibly approach the value your city is giving up,” he wrote, pleading with officials to abandon the project. “It is a dystopian vision that has no place in a democratic society.”

Read more …

Literally everywhere.

Microplastics Have Invaded The Deep Ocean – And The Food Chain (NPR)

The largest habitat for life on Earth is the deep ocean. It’s home to everything from jellyfish to giant bluefin tuna. But the deep ocean is being invaded by tiny pieces of plastic — plastic that people thought was mostly floating at the surface, and in amounts they never imagined. Very few people have looked for microplastic concentrations at mid- to deep-ocean depths. But there’s a place along the California coast where it’s relatively easy: The edge of the continent takes a steep dive into the deep ocean at Monterey Bay. Whales and white sharks swim these depths just a few miles offshore. [..] “The deep ocean is the largest ecosystem on the planet,” says Van Houtan, “and we don’t know anything about the plastic in the deep ocean.”


Scientists do know about plastic floating on the surface, and have tried to measure how much there is. The Great Pacific garbage patch is just one of many giant eddies in the oceans where enormous amounts of plastic waste collects. But beneath the surface? Not much. So Ventana made several dives to collect water samples at different depths. Technicians filtered the water, looking for microplastic, the tiny fragments and fibers you can barely see. “What we found was actually pretty surprising,” Van Houtan says. “We found that most of the plastic is below the surface.” More, he says, than in the giant floating patches. And also to their surprise, they found that submerged microplastics are widely distributed, from the surface to thousands of feet deep.


The deep ocean is filled with sea creatures like giant larvaceans. They’re actually the size of tadpoles, but they’re surrounded by a yard-wide bubble of mucus that collects food — and plastic. Courtesy of the Monterey Bay Aquarium Research Institute

Read more …

 

 

 

 

 

Home Forums Debt Rattle June 7 2019

This topic contains 4 replies, has 4 voices, and was last updated by  V. Arnold 4 months, 1 week ago.

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  • #47821

    René Magritte L’empire des lumières 1949   • Assange Persecution Very Similar To Historic Witch-Hunts – Melzer (Can.) • Belmarsh Prison Inmate Pr
    [See the full post at: Debt Rattle June 7 2019]

    #47822

    V. Arnold
    Participant

    I find the René Magritte L’empire des lumières 1949; stunning.
    The juxtaposition of light and dark is just brilliant, IMO…

    #47823

    Peachtree
    Participant

    “Does Australia have any laws at all?”

    Of course we do. For the little people anyway.

    #47824

    zerosum
    Participant

    • The Fed Can’t Help Housing or Autos at This Point (DDMB)

    https://www.cbc.ca/news/canada/british-columbia/canfor-temporary-shutdown-bc-lumer-mills-1.5110097
    Canfor temporarily cutting production at 3 sawmills in B.C.
    ———–
    https://www.cbc.ca/news/canada/british-columbia/toko-sawmill-closed-1.5132438
    Forestry products company Tolko says it will permanently close its Quesnel sawmill and will reduce shifts at its Kelowna mill.

    Although I see lots of inventories of everything, (farming equipment, lumber, mfg. products, etc.), I do not hear that the banks are seizing the inventories because of non-performing loans.

    Did everyone forget that the midwest has got to repair and rebuild all of the infrastructures that have been destroyed and damaged by hurricanes and flooding?
    ——–
    https://www.bizjournals.com/louisville/news/2019/05/03/automotive-industry-sees-thousands-of-job-cuts.html
    Through April, the U.S. auto industry saw 19,802 job cuts compared to 6,451 cuts through the same period last year. The industrial goods industry lost 39,304 this year through April compared to 4,625 last year through April, the report said.

    It will take a while to see the effects of the 5% tarrifs on Mexico.
    ———–
    However, we don’t need to worry. The fed is ready to help so that the banks and stock markets still produce the expected profits.

    • Fed Signals It Will Use QE Aggressively To Fight Next Recession (MW)

    —————–
    Don’t take my word for it.

    • That America Is Gone (PCR)

    The State of the Economy

    What few, if any, economists and financial market commentators understand is that today all markets are rigged by the plunge protection team. For at least a decade it has not been possible to evaluate the financial situation by relying on traditional thinking and methods. Rigged markets do not respond in the way that competitive markets respond. This is the explanation why companies that see no investment opportunities for their profits better than the repurchase of their own shares can have high price/earnings ratios. This is the explanation why the market’s effort to bring stock prices in line with realistic price/earnings ratios is unsuccessful.
    As far as I can surmise, the Federal Reserve and plunge protection team can continue to rig the financial markets for the mega-rich until the US dollar loses its role as world reserve currency.

    I guess that the next step will be to do as Japan, buy up the stock market, or even better, do like China and use the inventories to build cities.

    #47825

    V. Arnold
    Participant

    I’ve followed he DJI for many months; down to 24000+/-; and then back up to 26000+/-.
    It’s so regular you could bet on it.
    Oh, wait… 😉

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