Sep 202023
 
 September 20, 2023  Posted by at 8:52 am Finance Tagged with: , , , , , , , , ,  45 Responses »


Pablo Picasso Femme 1930

 

We Can No Longer Hide the Truth About the Russia-Ukraine War (Newsweek)
NYT Exposes Zelensky Lie About Donbass Missile Strike (RT)
NYT Spreading ‘Conspiracy Theories’ On Ukrainian Missile Strike – Podoliak (RT)
Zelensky’s US Visit a ‘Dog & Pony Show’ to Plug Cracks in Ukraine Support (Sp.)
EU Seeking Something Russian To Sanction – Bloomberg (RT)
Russia, North Korea Stage ‘Strategic Coup’ Against Western Hegemony (Pepe Escobar)
Biden Repeats ‘Unforgivable’ Remark About Putin (RT)
Putin Behind EU Migrant Crisis – Polish Diplomat (RT)
Kremlin Calls on Armenia and Azerbaijan to Adhere to Trilateral Agreements (Sp.)
The West Destroyed Africa, Eurasia Will Revive It (Ehret)
California Lawmakers Push for Ruling on Booting Trump From State Primary Ballot (Sp.)
House Republicans Set Date for 1st Biden Impeachment Hearing (ET)
McCarthy Delays Vote on 30-Day Funding Resolution as Gov’t Shutdown Nears (Sp.)
COVID-19 Vaccines Revealed as ‘Neither Safe, Nor Effective’: Watchdog (ET)

 

 

 

 

RFK The Wages of War

 

 

ComicDaveSmith
https://twitter.com/i/status/1703848329111654622

 

 

 

 

Brand voting machines
https://twitter.com/i/status/1703850642115280986

Russell

 

 

 

 

Aaron Siri

 

 

 

 

In the same day, two US MSM publications, Newsweek and NYT, go against what has so far been the official view on Ukraine. As Zelensky is in Washington/NYC. That can’t be a coincidence.

First, a Newsweek piece authored by “Daniel L. Davis , Senior Fellow, Defense Priorities”. Apart from admitting that Ukraine is screwed, he has some numbers that made me think:

“Ukraine was reported to have lost 17,500 troops in the first year of the war..”

That appears to be a official US number. Col. Macgregor estimated some 20x more for the first year. Then came the “spring offensive”:

“.. it is presently assessed to have lost a breathtakingly high 50,000 additional deaths, for a total of 70,000 dead and 120,000 wounded..”

So in 3 months, they had 3 times more deaths than in the entire first year, which included the Bakhmut meat grinder. And you think: maybe he just doesn’t know, this “senior fellow”. But then he comes with:

“Rather than repeating over the next year and a half what has already not worked—potentially costing Ukraine yet additional hundreds of thousands of losses..”

And I thought: he does know. He goes from “breathtakingly high 50,000 additional deaths” to “additional hundreds of thousands of losses”. It’s in the way he phrases it.

We Can No Longer Hide the Truth About the Russia-Ukraine War (Newsweek)

As leading American politicians, generals, and pundits continue advocating for open-ended support to Kyiv in their war against Russia, a sober, accurate analysis of Ukraine’s nearly completed summer offensive reveals that the heroic sacrifice Ukraine continues to make is producing little to no meaningful progress toward the objective of evicting Russia from Ukraine’s territory. Washington should instead employ a necessary course correction and form a new policy, based on the harsh, ground-truth combat realities in Ukraine. Revising the objectives would give Washington and Kyiv a chance to preserve Ukrainian lives and American interests. Washington’s current policies do neither. Despite great hopes for a rapid success, Ukraine’s months-in-the-making offensive has sputtered from the outset.

That shouldn’t have surprised anyone in the White House. On April 5, two months before the start of the offensive, I wrote that “Zelensky’s troops—with little to no air power and a dearth in artillery ammunition—could suffer egregious casualties while gaining little.” Five days later, The Washington Post revealed the contents of a leaked Top Secret U.S. intelligence assessment which likewise predicted the Ukrainian offensive would probably fall “well short” of expectations, and that “enduring Ukrainian deficiencies in training and munitions supplies probably will strain progress and exacerbate casualties during the offensive.” Total Ukrainian deaths in the war at that point were estimated to be as low as 17,500. About a month before the start of the offensive, I again warned that the odds were stacked heavily against Kyiv.

To succeed, I explained, Ukraine would “have to conduct the most difficult task in modern land warfare: a combined arms operation into the teeth of a dug-in enemy force that is prepared for an attack,” complicated by the shortage of artillery ammunition along with “limited airpower and minimal air defense.” Nevertheless, on the eve of battle, some Western analysts remained optimistic. Once the offensive began on June 5, however, that optimism quickly evaporated. In the first two weeks of the fighting, Ukraine’s spearhead brigades suffered massive losses in armor and personnel while capturing virtually no territory. By the end of the third week, they had lost an estimated fifth of their strike force, requiring Ukraine to dramatically change tactics. Instead of leading with tanks and other armored vehicles (which were predictably getting chewed up in minefields and by Russian anti-tank missiles and artillery shells), Ukraine moved to an infantry-centric attack system.

While this change did result in producing incremental gains, the cost was exorbitant. On Aug. 29, the BBC reported that new leaked reports suggested Ukrainian battle deaths exploded since the offensive started. Whereas Ukraine was reported to have lost 17,500 troops in the first year of the war, it is presently assessed to have lost a breathtakingly high 50,000 additional deaths, for a total of 70,000 dead and 120,000 wounded. If it wasn’t clear to Washington before the offensive started that the fundamentals of combat operations and principles of war indicated Ukraine would likely fail, it should now be crystal clear. Although Ukraine appears to have finally penetrated the first line of Russia’s main defense, the most difficult part of Russia’s defensive system has yet to be overcome: the hundreds of kilometers of dragon’s teeth, tank ditches, and yet more vast minefields.

It is unclear at this point whether Ukraine has enough striking power remaining in its offensive forces to reach, much less penetrate, Russia’s second main line—beyond which is a third main line followed by a fortress-defense at Tokmak, which is still 75 road kilometers from the Azov coast. Given these realities, the best Ukraine can likely do for the rest of the year is to hold what they have and prevent the possibility of losing more territory to a potential Russian counteroffensive this fall. [..] Rather than repeating over the next year and a half what has already not worked—potentially costing Ukraine yet additional hundreds of thousands of losses—it’s time to try something that has a chance to succeed. In other words, it’s time to acknowledge objective reality and employ policies that can work.

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Here’s the New York Times welcoming gift to Zelensky. While he’s at the United Nations, the paper calls him a liar, to his face.

I’ve seen quite a few comments on this, and not one ponders that perhaps this was a deliberate Ukraine attack. Would that be so far-fetched?

NYT Exposes Zelensky Lie About Donbass Missile Strike (RT)

A New York Times investigation revealed on Monday that Ukrainian forces were mostly likely responsible for a deadly missile strike at a market, which happened the same day US Secretary of State Antony Blinken visited the country. The incident on September 6 in the Kiev-controlled Donbass city of Konstantinovka killed at least 15 civilians and injured scores of others. Ukrainian President Vladimir Zelensky immediately accused Russia of launching the strike and claimed that any “attempts to deal with anything Russian” meant turning a blind eye to “the audacity of evil.” Many Western media outlets and some governments endorsed his statement.

The NYT said evidence pointed to a “tragic mishap” involving a Ukrainian anti-air Buk missile that apparently veered off course. The newspaper analyzed missile fragments, satellite imagery, witness accounts, and social media posts to come to the conclusion. It noted that Ukrainian authorities tried to prevent journalists from accessing the impact site. Some people unsympathetic to the Russian cause, including Bild journalist Julian Ropcke and the open-source intelligence analysis group CIT suggested Kiev’s responsibility shortly after the incident. The Ukrainian government indicated that it considered Russian guilt to be beyond any doubt.

“What would an investigation be needed for, if all is obvious for us?” Zelensky’s senior aide Mikhail Podoliak told the media at the time. He called any other scenario, including a Ukrainian error, “ridiculous.” The missile was apparently one of the two fired by Ukrainian forces from the outskirts of the town of Druzhkovka some 15 km to the northwest of Konstantinovka, NYT reported. The projectile was likely a 9M38 model used by the Buk system, the newspaper concluded based on forensic evidence. Considering the short distance from the presumed launch point, it probably crashed with much of its fuel unspent, and the subsequent explosion left scorch marks at the scene.

Russian Ambassador to the UN Vassily Nebenzia mentioned the incident in a speech last week, suggesting that Kiev may have orchestrated it deliberately to coincide with Blinken’s visit. He added that as the evidence clearly contradicts Zelensky’s accusation, “the Kiev regime and its sponsors are trying to hush up this story and keep it off radar.” At least one Kiev official has been forced to resign after attributing a strike to Ukrainian forces that his government had pinned on Russia. Aleksey Arestovich quit his post as an advisor to the president in January, amid pressure over an interview in which he suggested that an apartment block in the city of Dnepr was hit by a Ukrainian interceptor rather than a Russian cruise missile. The Russian military has maintained since the start of the conflict that it only targets military objectives in its operations.

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“What would an investigation be needed for, if all is obvious for us?”

NYT Spreading ‘Conspiracy Theories’ On Ukrainian Missile Strike – Podoliak (RT)

Claims that Ukraine was responsible for killing at least 15 civilians in a missile strike on a Donbass market are “conspiracy theories,” Mikhail Podoliak, a top adviser to Ukrainian President Vladimir Zelensky, has declared. The New York Times has suggested that the missile involved was Ukrainian, not Russian. “No doubt, the appearance of articles in foreign media with doubts about Russia’s involvement in the attack on Konstantinovka entail the growth of conspiracy theories,” Podoliak wrote on X (formerly Twitter) on Tuesday. Promising that the incident would be investigated by Ukrainian authorities, Podoliak added that “society will surely receive an answer to the question of what exactly happened in Kostiantynivka, as in the thousands of other instances of Russian strikes on our country as part of an unprovoked war.”

The strike took place on September 6, while US Secretary of State Antony Blinken was visiting Kiev. A missile struck a market in the Kiev-controlled Donbass city of Konstantinovka, killing 15 civilians and injuring scores of others. Ukrainian President Vladimir Zelensky immediately accused Russia of launching the strike and claimed that any “attempts to deal with anything Russian” meant turning a blind eye to “the audacity of evil.” Although many Western media outlets and some governments endorsed his statement, doubt soon crept in. The New York Times reported on Monday that evidence from the scene pointed to a “tragic mishap”involving a Ukrainian anti-air Buk missile.

The newspaper analyzed missile fragments, satellite imagery, witness accounts, and social media posts to come to the conclusion, and noted that Ukrainian authorities tried to prevent journalists from accessing the impact site. At the time, Podoliak ridiculed the notion of investigating the strike.“What would an investigation be needed for, if all is obvious for us?” he said. In his post on Monday, the official insisted that Ukraine “exclusively conducts defensive actions, defending itself and its territories.”

However, Ukrainian forces have fired missiles at civilian targets before. In addition to its regular shelling of the Donetsk People’s Republic since 2014, Ukrainian forces have used Western-provided missiles to strike the cities of Donetsk and Lugansk, and repeatedly struck Donetsk with cluster munitions and aerially-dispersed landmines. Last March, a Ukrainian Tochka-Umissile was allegedly fired at a residential area of Donetsk, killing at least 20 people after it was downed by Russian air defense systems. Despite evidence from the ground showing the missile was Ukrainian in origin, Zelensky nevertheless blamed Russia for attacking its own people, insisting it was “unmistakably a Russian rocket” and that “there’s no point talking about it.”

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“..you have this guy Zelensky, who’s billed as Mother Theresa… or reincarnation of Winston Churchill…And we’re learning more and more that this guy is a corrupt autocrat… He basically brought his own country to ruin, and he’s continuously begging for more and more weapons..”

Zelensky’s US Visit a ‘Dog & Pony Show’ to Plug Cracks in Ukraine Support (Sp.)

Ukraine’s President Volodymyr Zelensky is foraying to the United States for the second time since Russia’s special operation began, having last been there in December 2022. Zelensky was offered a hero’s welcome at the time, as he addressed Congress touting Kiev’s battlefield “successes” while angling for continued Western aid. But roll the clock forward, and “take two” of the Zelensky “show” now comes against a much-changed backdrop: the overly heralded Ukraine counteroffensive “debacle,” huge losses in manpower and destroyed NATO-gifted weaponry, and an ever-stronger chorus of voices among Republican lawmakers against sending more money down the Ukraine sinkhole. What kind of change in tone and rhetoric can we expect from the leader of the Kiev regime as he attends the UN General Assembly in New York, and meets with congressional leaders and President Joe Biden in Washington?

“It’s going to be an extremely difficult visit for Zelensky,” Daniel McAdams, executive director of the Ron Paul Institute for Peace and Prosperity, told Sputnik. “He [Zelensky] was hailed as the conquering hero… He was lionized in Congress… He gave a speech… He handed a flag to the vice president and then-Speaker Nancy Pelosi,” recalled Daniel McAdams, adding that the Ukrainian president had vowed “Bakhmut [Artemovsk] would be a turning point in the war.” “He was right about that, but not in the way he expected. No, it’s a very, very different world now,” said the pundit. “Antony Blinken was just out there [and] he gave him a heads up as to what to expect. And I think you can tell by his [Ukrainian president’s] subsequent interview in The Economist, where Zelensky was very glum and very dark, and he said something like, ‘Well, all of these leaders say that they support us, but when I look in their eyes, I can tell they’re not telling the truth…’ So it’s going to be an extremely difficult visit from Zelensky to New York in Washington,” Daniel McAdams said.

US Secretary of State Antony Blinken made a two-day surprise visit to Ukraine in early September, to announce more than $1 billion in aid for Kiev. However, the visit came as the third month of Ukraine’s botched counteroffensive ended with the Kiev regime unable to boast of any military gains. “Well, I think this dog and pony show is going to air. So, you know, you have this guy Zelensky, who’s billed as Mother Theresa… or reincarnation of Winston Churchill…And we’re learning more and more that this guy is a corrupt autocrat… He basically brought his own country to ruin, and he’s continuously begging for more and more weapons. You know, our societies are fraying, state legislatures are constantly saying they have no money for social programs, and yet they pull billions of dollars out of the hat for Ukraine,” Jeremy Kuzmarov, managing editor of the Covert Action magazine and the author of several books on US foreign policy, told Sputnik.

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“..the EU has implemented 11 sets of sanctions against Russia..” And not learned a single thing.

EU Seeking Something Russian To Sanction – Bloomberg (RT)

The European Union is in the final stages of crafting its 12th set of Ukraine-related sanctions against Russia, as reported by Bloomberg on Monday, citing sources familiar with the ongoing discussions. According to the news outlet, this forthcoming package of sanctions is expected to concentrate on further measures to hinder Russia’s capacity to circumvent previously imposed restrictions, particularly its efforts to import sanctioned goods through intermediary countries, such as Türkiye and the UAE. Sources claim that the EU’s sanctions list may be expanded to align with the upcoming G7 ban on purchasing Russian diamonds, anticipated to be announced in the coming weeks. It envisions direct and indirect prohibitions on acquiring Russian diamonds starting from January 1.

Additionally, the new EU package is said to include a proposal regarding the potential utilization of profits generated by frozen assets belonging to the Central Bank of Russia. Discussions concerning the legality of seizing these assets to support Ukraine have been ongoing for months, with sources indicating that they may be nearing a resolution. Furthermore, the European Commission is expected to propose implementing a windfall tax on the earnings generated by Russian central bank assets within EU clearing houses. Certain member states, including Poland and the Baltic nations, have reportedly proposed additional restrictions on Russia’s liquefied natural gas (LNG) exports and IT services. Specific details regarding these proposals remain undisclosed.

This group of states has also advocated for sanctions targeting Russia’s nuclear industry. However, past efforts to sanction this sector have been waived, primarily because many countries, including many within the EU, depend on Russian atomic fuels. The announcement of this new sanctions package is anticipated in either the first half of October or during an EU-US summit slated for the next month. Since the commencement of Moscow’s military operation in Ukraine in February of the previous year, the EU has implemented 11 sets of sanctions against Russia, targeting various sectors of the Russian economy and its financial institutions. Some member states have reportedly expressed concerns that there is not much left to sanction while urging Brussels to enforce existing restrictions effectively.

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“..The categorical imperative was simple: as long as Pyongyang did not start any trouble, Moscow and Beijing would be by its side..”

Russia, North Korea Stage ‘Strategic Coup’ Against Western Hegemony (Pepe Escobar)

The genesis of Kim Jong Un’s train journey to the Russian Far East – coinciding with the Forum, no less – is a masterful strategic coup that was in the works since 2014, at the time of the Maidan. Xi Jinping was still in the beginning of his first mandate; he had announced the New Silk Road exactly ten years ago, first in Astana and then in Jakarta. The DPRK was not supposed to be integrated into this vast pan-Eurasian project that would soon become China’s overarching foreign policy concept. The DPRK then was on a roll against the Hegemon, under Obama, and Beijing was no more than a worried spectator. Moscow, of course, was always focused on peace in the Korean Peninsula, especially because its geopolitical priorities in 2014 were Donbass and Syria/Iran. The last thing Moscow could afford was a war in Asia-Pacific.

Putin’s strategy was to send Defense Minister Shoigu to Beijing and Islamabad to calm it all down. Pakistan at the time was helping Pyongyang to weaponize their nuclear arsenal. Simultaneously, Putin himself approached Kim, offering serious guarantees: we’ve got your back if ever there is an attack by the Hegemon supported by Seoul. Even better: Putin got Xi himself to double down on the guarantees. The categorical imperative was simple: as long as Pyongyang did not start any trouble, Moscow and Beijing would be by its side. A sort of calm before any possible storm then set in – even if Pyongyang continued to test their missiles. So over the years, Kim’s mindset changed; he became convinced that Russia and China were his allies. The DPRK’s geoeconomic integration into Eurasia was seriously discussed in previous, pre-Covid editions of the Eastern Economic Forum in Vladivostok.

That included the tantalizing possibility of a Trans-Korean Railway linking both North and South to the Far East, Siberia and the wider Eurasia. So Kim started to see the Big Eurasia Picture, and how Pyongyang could finally start to benefit geoeconomically from a closer association with the EAEU, SCO and BRI. This is how strategic diplomacy works: you invest during a decade, and then all the pieces fall into place when an armored train keeps-a-rollin’ across Primorsky Krai. From the perspective of a Russia-China-DPRK triangle, it’s no wonder the collective West has been reduced to the status of crying toddlers in a sandbox. The Hegemon’s puny US-Japan-South Korea axis to counter, simultaneously, China and the DPRK, is a joke compared to the DPRK’s brand-new role as a sort of Asia-Pacific Military District, adjacent to their immediate neighbor, the Russian Far East.

There will be military integration, of course, in missile defense, radars, ports, airfields. But the key vector, along the way, will be geoeconomic integration. Sanctions from now on are meaningless. No one in 2014 was seeing this all play out, except for a very sharp analyst who coined the precious Double Helix concept to define the still evolving, at the time, Russia-China comprehensive strategic partnership. The Double Helix perfectly explains the full-spectrum geostrategic symbiosis between two civilization-states which happen to be former empires but since the middle of the previous decade willfully decided to accelerate their mutual drive to lead the Global Majority in the path towards multipolarity.

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Criminal, dictator,…

Biden Repeats ‘Unforgivable’ Remark About Putin (RT)

US President Joe Biden has described Russian President Vladimir Putin as a “dictator,” claiming that his main political opponent, former President Donald Trump, would “bow down to” him if elected in 2024. The Democrat also touted himself as a defender of US democracy. Speaking to supporters during a fundraiser at the Lunt-Fontanne Theater in New York City on Monday, Biden said, “I will not side with dictators like Putin. Maybe Trump and his MAGA friends can bow down, but I won’t.” The incumbent president claimed that “Donald Trump and his MAGA Republicans are determined to destroy American democracy,” whereas he would always “protect and fight” for it. This recent comment made by the US head of state about President Putin is not the first instance of him referring to another foreign leader as a dictator.

Last March, Biden told attendees of the annual Friends of Ireland Luncheon that the US and its allies were standing together against a “murderous dictator, a pure thug who is waging an immoral war against the people of Ukraine.” A day prior, the US president said he considered Putin a “war criminal.” Commenting on Biden’s remarks at the time, Kremlin spokesperson Dmitry Peskov told TASS news agency that Moscow deemed “unacceptable and unforgivable such rhetoric from a head of state whose bombs have killed hundreds of thousands of people around the world.” He noted that the US leader had resorted to “personal insults,” a level that President Putin, a “thoughtful and wise leader,” would never stoop to. sLast month, several US media outlets also quoted President Biden as alleging that China is run by “bad folks.” In June, he described Chinese President Xi Jinping as a “dictator,” which Beijing characterized as a “political provocation.”

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The EU needs no help creating crises.

Putin Behind EU Migrant Crisis – Polish Diplomat (RT)

A senior Polish diplomat has suggested that the recent surge in illegal immigrants arriving on the Italian island of Lampedusa might be a component of a Russian hybrid operation designed to erode the European Union’s support for Ukraine. This concern comes in light of a recent report from the Italian Interior Ministry, which indicates that over 89,000 people have entered Italy illegally this year. Lampedusa, an overcrowded Mediterranean island, remains a prominent destination for these arrivals. “Someone is helping these people walk hundreds if not thousands of kilometers from Nigeria and Central African countries to the Mediterranean Sea,” Polish Deputy Foreign Minister Arkadiusz Mularczyk speculated in an interview with Polish Radio on Tuesday. “Someone who has an interest in it. And Russia undoubtedly has an interest in it,” he added.

He asserted that Russian President Vladimir Putin’s objective is to “destabilize the situation in Western Europe.” Mularczyk suggested that the current state of confusion and unrest brought on by illegal immigration serves as a means to divert attention away from the ongoing crisis in Ukraine. According to him, Putin is believed to be exerting influence “behind the scenes” in smuggling individuals into the EU, often facilitated by criminal groups. “And it was successful because today, the war in Ukraine is fading into the background, and the entire EU is talking about what is happening in Lampedusa,” the diplomat stated. Claims of Russia’s alleged involvement in facilitating illegal immigration into Europe have circulated for years. In November 2021, this issue gained prominence when certain EU member states, including Poland, accused Russia’s ally, Belarus – and, by extension, Russia – of exploiting migrants seeking asylum in the EU for political purposes.

At that time, President Putin addressed this ongoing challenge, stating that the “key link” of migrant smuggling networks was located within the EU. He argued that European officials were attempting to blame Russia for their own policy shortcomings. According to him, the root causes of the influx of migrants are Western military interventions abroad and the attractive welfare benefits EU nations offer asylum seekers. “Deal with your internal problems and don’t lay on other people [your domestic] issues,” the Russian leader suggested. The ruling conservative Polish government has been openly criticizing Brussels and Western European countries, particularly Germany, for their perceived inadequacies in addressing illegal migration issues and for imposing the burden of hosting migrants on other EU member states.

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US/NATO poking the bear some more.

Zakharova: Russia hopes Armenia will realize full danger of adventure started by Westerners.

Erdogan, in his address at the UN General Assembly: “Karabakh is Azerbaijan”.

Kremlin Calls on Armenia and Azerbaijan to Adhere to Trilateral Agreements (Sp.)

Russia calls on Armenia and Azerbaijan to adhere to trilateral agreements on Nagorno-Karabakh, Kremlin spokesman Dmitry Peskov said on Tuesday after Baku launched a military operation in the breakaway region. “The only substantive basis is the trilateral documents of two and three years ago, which were signed between Russia, Armenia, and Azerbaijan, so we urge everyone to follow the provisions of these documents and, naturally, taking into account those new realities, this means the fact of recognition by the Armenian side of the territory of Azerbaijan as of 1991,” Peskov told reporters. The spokesman added that the opportunity to reach a political and diplomatic solution to the Nagorno-Karabakh conflict still “exists.” “The main thing is to convince both Yerevan and Baku to abandon use of force and sit down at the negotiating table,” Peskov said.

Earlier in September, Putin said that he received a letter from Pashinyan, and that Russia has no problems with Armenia.Russian President Vladimir Putin and Armenian Prime Minister Nikol Pashinyan did not have any contacts after Pashinyan’s letter, Peskov stated.”Indeed, there was a detailed letter stating the point of view of the Armenian side to what is happening. At that time, there was actually… work on resuming the delivery of humanitarian aid to Karabakh. And to our satisfaction, as of yesterday, this work was successful. The first batch went in two directions through the Aghdam and Lachin roads, but unfortunately this did not prevent the resumption of hostilities. There have been no other contacts since then,” the spokesman said in response to a question about whether there were any other contacts between Putin and Pashinyan besides the letter sent earlier by the Armenian politician.

The Russian military is in contact with the Armenian and Azerbaijani sides, and contacts at the highest level are also possible, Peskov stressed. “First of all, contacts are now being carried out through our military, through other departments. Communication at a higher level is also consistent. As soon as final agreements are reached, we will inform you immediately, including about possible contacts at the highest level,” the spokesman told reporters, commenting on whether contacts with Baku and Yerevan are planned in the coming hours. The Russian military is trying to return the process in Nagorno-Karabakh to a political and diplomatic track, Peskov emphasized.

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“..a much healthier security paradigm has emerged in recent years from Eurasia..”

The West Destroyed Africa, Eurasia Will Revive It (Ehret)

In Africa, injustice looms large, marked by poverty, warfare, and famine. Despite post-WWII political gains, economic independence, a vital component of true freedom as envisioned by Pan African leaders like Kwame Nkrumah, Patrice Lumumba, and Haile Selassie, remains elusive. After decades of restrictive IMF and World Bank loans, poverty, hunger, and conflict persist throughout the continent. While many attribute this to Africa’s governance challenges, in reality, a deliberate imperial agenda has hindered the continent’s development in all political, economic, and security sectors. But much has changed in the past few years. The growing clout of Eurasian institutions that fully embrace Global South countries as valuable, integral, and equal members – the BRICS+ and Greater Eurasian Partnership are examples – offer hope that old neo-colonial shackles will be broken and that Africa can enjoy an unfettered renaissance.

The rise of a new global pole to challenge the old unipolar order has had a notable impact across sub-Saharan West Africa which, in recent years, has seen a surge in military coups shifting power away from regimes that had long prioritized the interests of western corporations. These coups occurred in Chad (April 2021), Mali (May 2021), Guinea (September 2021), Sudan (October 2021), Burkina Faso (January 2022), Niger (July 2023), and Gabon (August 2023) – all resource-rich countries with abnormally poor living conditions. In Gabon, over 30 percent of its people live on less than $1 per day, while 60 percent of its regions have no healthcare or clean drinking water despite the abundance of gold, diamonds, manganese, uranium, iron ore, natural gas, and oil – mostly monopolized by French corporations like Eramat, Total and Ariva.

Despite its abundance of rare earths, copper, uranium, and Gold, 70 percent of Malians still live in abject poverty. SImilarly, Sudan, with its riches in oil, fertile soil, and water, has 77 percent of the population living below the poverty line. In uranium-rich Niger, which provides over 35 percent of the fuel for France’s nuclear industry (accounting for 70 percent of France’s energy basket), mainly under the control of France’s Orano, only 3 percent of Nigerians have access to electricity. In the “former” French colony of Chad, that number is only a little higher at 9 percent, and a still-unacceptable 20 percent in Burkina Faso. While Altanticists desperately seek ways to keep their talons embedded into the African continent and its abundant riches, a much healthier security paradigm has emerged in recent years from Eurasia.

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“..to again steal an Election that their candidate, the WORST, MOST INCOMPETENT, & MOST CORRUPT President in U.S. history, is incapable of winning in a Free and Fair Election.”

California Lawmakers Push for Ruling on Booting Trump From State Primary Ballot (Sp.)

The movement to block former President Donald Trump’s 2024 election bid gained steam on Monday as California Democrats urged his removal from the state’s primary ballot. Nine lawmakers penned a letter to the state’s Democratic Attorney General Rob Bonta advocating for Trump’s disqualification from the March 5 primary, arguing his ineligibility on grounds of inciting an uprising during the riots at the US Capitol on January 6, 2021. The effort is one of several state-level initiatives arguing against Trump’s candidacy on constitutional grounds, citing the Fourteenth Amendment’s barring of candidates “engaged in insurrection or rebellion against” the United States from holding office. The California effort is notable in its attempt to resolve the question via the state’s attorney general, an approach which may lead to a faster resolution of the question.

“We all watched in horror Mr. Trump’s insurrection against the United States when he ordered a mob of his supporters to the United States Capitol on January 6, 2021 to intimidate [then] Vice President [Mike] Pence and the United States Congress,” reads the letter, spearheaded by Silicon Valley assemblymember Evan Low. “There is no denying that Donald Trump has engaged in behavior that is unacceptable and unbecoming of any leader,” stated a spokesperson for Bonta, appearing to sympathize with some of the lawmakers’ claims. sHowever, whether Bonta intends to fully weigh in on the matter in his position as the state’s attorney general remains an open question. Various other state-level officials throughout the country have determined the matter would clearly violate precedent, if not their own jurisdiction. Others claim the issue would ultimately need to be resolved by the Supreme Court regardless.

“We have a constitutional republic of laws,” argued Georgia elections official Gabriel Sterling after a similar petition was lodged in Minnesota. “Anybody using an electoral scheme or a constitutional interpretation to remove anybody from the ballot is going to be a dangerous precedent.” Trump weighed in on the issue in a post on Truth Social, writing, “Almost all legal scholars have voiced opinions that the 14th Amendment has no legal basis or standing relative to the upcoming 2024 Presidential Election.” “Like Election Interference, it is just another ‘trick’ being used by the Radical Left Communists, Marxists, and Fascists, to again steal an Election that their candidate, the WORST, MOST INCOMPETENT, & MOST CORRUPT President in U.S. history, is incapable of winning in a Free and Fair Election.”

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Mr. Biden here is Hunter.

House Republicans Set Date for 1st Biden Impeachment Hearing (ET)

The U.S. House of Representatives will hold its first impeachment inquiry hearing this month, the House Oversight Committee confirmed on Sept. 19. The first hearing will take place on Sept. 28, a spokesperson for the House Oversight Committee told The Epoch Times. “The hearing will focus on constitutional and legal questions surrounding the president’s involvement in corruption and abuse of public office,” the spokesperson said. “The Committee also intends to subpoena Hunter and James Biden’s personal and business bank records as early as this week. The Oversight Committee will continue to follow the evidence and money trail to provide the transparency and accountability that Americans demand from their government.”

House Speaker Kevin McCarthy (R-Calif.) recently announced that the lower chamber would be investigating President Joe Biden, with a focus on his involvement in the business dealings of his son Hunter Biden and brother James Biden. “House Republicans have uncovered serious and credible allegations into President Biden’s conduct. Taken together, these allegations paint a picture of a culture of corruption,” Mr. McCarthy said. He said that the inquiry would help lawmakers obtain more evidence, including bank records. Rep. James Comer (R-Ky.), chairman of the House Oversight Committee, is helping lead the probe. Ian Sams, a White House spokesman, said that Republicans have already been investigating the president and have “turned up no evidence of wrongdoing.”

President Biden recently told reporters, “The best I can tell, they want to impeach me because they want to shut down the government.” Mr. Comer and other Republicans have found that the president spoke repeatedly to business partners of Mr. Biden, including at dinners at Washington’s Cafe Milano. They also confirmed that President Biden sent emails under pseudonyms while vice president, including accounts that corresponded with Mr. Biden. Mr. Biden, other Biden family members, and associates received more than $21 million, primarily from foreigners, while President Biden was vice president. Mr. Biden was charged with tax violations, but those charges were withdrawn after a plea deal fell apart. He was also charged with several felony gun crimes this month. Mr. Biden sued the IRS on Sept. 18 for allegedly breaching his right to privacy by speaking publicly about the agency’s probe into him.

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“Speaker McCarthy needs to find a way to do his job, which is to pass a continuing resolution,” Yellen added.”

McCarthy Delays Vote on 30-Day Funding Resolution as Gov’t Shutdown Nears (Sp.)

US House Speaker Kevin McCarthy (R-CA) has postponed a vote on a stopgap spending bill amid his attempts to appease a small but powerful right-wing faction of the Republican Party as a government shutdown looms. The procedural vote originally scheduled for Tuesday afternoon would have approved a 30-day government funding bill, moving it to the Senate and opening the door for wider talks. Some sort of funding bill must be passed by September 26 to avert a shutdown on September 30, but in lieu of agreement on larger appropriations bills, lawmakers have focused on passing a short-term funding bill to give them more time to negotiate. Reports in US media did not indicate when the vote would be held.

But even that has so far evaded federal lawmakers as a small faction of one dozen Republican Representatives aligned with former US President Donald Trump have used the GOP’s extremely narrow majority to position themselves as legislative kingmakers in the lower chamber since the new Congress was sworn in in January. Without their approval, McCarthy’s leadership over Republicans and the House of Representatives as a whole is effectively impossible. The most recent legislation, proposed by Republicans over the weekend, would fund the government until October 31 and includes a 1% cut in current spending levels across the entire federal government for that time, with some departments suffering worse than others. However, the dissident Republicans want to press for even deeper cuts, and are demanding more precise numbers on top-line budget items.

US Treasury Secretary Janet Yellen took aim at McCarthy on Monday, telling US media the speaker “needs to find a way to do his job.” “There’s absolutely no reason why we should have a government shutdown,” she said. “Democrats in both the House and the Senate and Republicans in the Senate are ready to pass appropriations bills or a continuing resolution to keep the government open and operating for the American people.” “Speaker McCarthy needs to find a way to do his job, which is to pass a continuing resolution,” Yellen added.

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From Canada, land of vaccines. The mandates will just continue everywhere.

COVID-19 Vaccines Revealed as ‘Neither Safe, Nor Effective’: Watchdog (ET)

COVID-19 vaccines were authorized in Canada during 2020 and 2021 without being subjected to the country’s safety tests as required under established drug regulations, an accountability watchdog revealed. An investigation into COVID-19 vaccines found that they were “neither safe nor effective,” according to the nonprofit organization National Citizens Inquiry (NCI). The organization published a report on Sept. 14 detailing the flawed mechanism through which the vaccines were granted “approval” in Canada. “It is important to understand that the COVID-19 vaccines were never approved under the traditional approval process for drugs in Canada,” the report states. Instead, Health Canada, the federal agency responsible for national health policy, approved the vaccines through an alternative authorization process—an interim order.

“Under the alternative authorization process, the necessity to establish the safety and efficacy of COVID-19 vaccines through an objective manner appears to have been set aside,” the report states. Canada’s Food and Drug Regulations require that a drug can only be approved in the country after its safety and effectiveness are demonstrated to the minister of health. Then, the minister considers whether the benefits outweigh the risks, following which, approval is granted. Instead of following regulations, the minister of health sanctioned an interim order on Sept. 16, 2021, which exempted all COVID-19 vaccines from normal review and approval. This provision usually allows the minister to override normal regulations in situations of “significant risk” to health, safety, or the environment.

Desmet

In Canada, four COVID-19 vaccines were authorized by the health agency under an interim order—Pfizer-BioNTech, Moderna, Janssen, and AstraZeneca. The report notes that under the order, vaccines were authorized under a “subjective test.” In this situation, authorization is granted by simply proving that the benefits of vaccination outweigh the risks. “This cannot be an appropriate standard for approving a drug that the Government intends to administer to the entire population. It is difficult to conceive of a less-scientific test for drug authorization than that found in the Interim Order,” the report states. Moreover, the order made sure that the vaccine authorizations couldn’t be revoked even under evidence that they were unsafe and ineffective.

Once an interim order is issued, the typical Food and Drug Regulations don’t apply. The order thus exempted manufacturers from having to effectively demonstrate “objective evidence of safety and effectiveness” of their COVID-19 vaccines. “The result was that while chief medical officers across the country repeatedly assured Canadians that the COVID-19 vaccines were ‘safe and effective’—the general Canadian population had no understanding that their authorization process had not required objective proof of safety nor efficacy,” the report states. The NCI report was supported by cardiologist Dr. Peter A. McCullough. “Excellent work @Inquiry_Canada with exhaustive testimony and evidence review.

Conclusion: all COVID-19 vaccines unsafe for human use and must be removed from the Canadian market immediately to protect the public,” he wrote in a Sept. 16 post on X. Dr. McCullough recently asked European lawmakers to take COVID-19 vaccines off the market due to concerns about illnesses such as heart inflammation, blood clots, and neurological diseases. s“COVID-19 vaccines and all of their progeny and future boosters are not safe for human use. I implore you, as a governing body, European Medicines Agency, to apply all pressure and due urgency to remove the COVID-19 vaccines from market,” Dr. McCullough said in Sept. 13 testimony to the European Parliament.

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Peppers
https://twitter.com/i/status/1703748990360007005

 

 

 

 

Zeihan

 

 

Monastery

 

 


Guttation is the exudation of drops of xylem sap on the tips or edges of leaves of some vascular plants, such as grasses. It’s not dew ..

 

 

Baby bara
https://twitter.com/i/status/1704255369302716642

 

 

Fun with dogs
https://twitter.com/i/status/1704369705232842913

 

 

 

 

Support the Automatic Earth in wartime with Paypal, Bitcoin and Patreon.

 

 

 

 

 

Oct 022022
 


Marc Chagall The Feast of the Tabernacles 1916

 

Russia Makes It ‘Impossible For War To End’ – Borrell (RT)
The End of Western Hegemony is INEVITABLE – Putin (Konstantin Kisin)
Nord Stream Explosions Are A ‘Tremendous Opportunity’ – US (RT)
Europe ‘Indefinitely Deprived’ Of Key Gas Supply Route – Gazprom (RT)
Who Profits From Pipeline Terror? (Escobar)
Russian Gas Exports To EU Via TurkStream Plunge (RT)
Russia Halts Gas Delivery To Italy (RT)
Azerbaijan To Increase Gas Deliveries To Bulgaria, Via Greece (AP)
Greek Gas Utility Clinches Winter LNG Deal (R.)
The Euro Without Germany (Michael Hudson)
Thousands Of German Stores On Brink Of Closure – Spiegel (RT)
Zelensky’s Lies Can’t Hide Ukraine’s Bloody Role In The Holocaust (Dershowitz)
FBI Agents Improperly Saw Privileged Trump Communications: Lawyers (ET)
A Little Knowledge is a Dangerous Thing (Steve Keen)
FDA Withholds Autopsy Results on People Who Died After COVID-19 Vaccines (ET)
Next On Europe’s Doomsday List: Collapse Of Cell Phone Networks (ZH)
China Tells State Banks To Sell Dollars, Buy Yuan (R.)

 

 

 

 

“Good people do things for other people. That’s it. The end”

 

 

 

 

 

 

 

 

 

 

Said it before: Borrell is EU’s No.1 warmonger, he needs to go.

Try this one: Putin has created the opportunity for peace. By making it much harder for Ukraine to shell its -formerly- own Russian speaking population.

Russia Makes It ‘Impossible For War To End’ – Borrell (RT)

The accession of four former Ukrainian regions into Russia makes the conflict in Ukraine impossible to end, top EU diplomat Josep Borrell said on Saturday. Speaking to the Spanish RTVE channel, the bloc’s high representative for foreign affairs described the impending inclusion of the two Donbass Republics, and Zaporozhye and Kherson Regions, into the Russian Federation as an “annexation” and an act of “completely unjustified aggression.” “Putin makes it more difficult, even impossible, for the war to end,” Borrell said. The EU is committed to continuing its military support for Ukraine, the diplomat stressed. The bloc also intends to go ahead with another package of sanctions against Moscow “so that Russia would be isolated internationally,” he added.

Russia has consistently warned the West against “pumping up” Ukraine with weapons, saying that it would only prolong the conflict. Borrell’s claim that Russia’s “annexation” of new territories will further jeopardize a peaceful solution to the Ukraine crisis echoed earlier remarks by UN Secretary-General Antonio Guterres. Speaking on the eve of the accession ceremony for the former Ukrainian regions, Guterres condemned in very strong terms both their inclusion into Russia and the preceding referendums, and called on Russia “to step back from the brink.” In response, Moscow accused the secretary general of abusing his authority.

Putin, meanwhile, warned the Ukrainian authorities and their Western “handlers” that people living in the Donetsk and Lugansk People’s Republics, as well as in the regions of Kherson and Zaporozhye, have become Russian citizens “forever” because they made a choice “to be with their Motherland.” In his speech at the signing ceremony for the accession treaties, the president also accused the West of dreaming “to weaken and break up Russia,” of being “ready to cross every line to preserve the neo-colonial system,” and of overthrowing traditional values, which, in Putin’s opinion, amounts to “pure Satanism.” The Russian president did call on Kiev to “return to the negotiating table.” His Ukrainian counterpart, Vladimir Zelensky, however, said that his country was ready for dialogue with Russia, but “with another president.”

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“.. In the 80s they had another crisis they solved by “plundering our country”. Now they want to solve their problems by “breaking Russia”..

The End of Western Hegemony is INEVITABLE – Putin (Konstantin Kisin)

This is a reproduction of my live Twitter summary/translation of Vladimir Putin’s speech: I wish every single person in the West would listen to Putin’s speech. Obviously, that won’t happen so let me summarise as a professional translator for 10+ years. He states, as he has done from the outset, what his intentions and complaints are in the plainest terms possible. Setting aside his brief comments on the recent “referendums”, he spends most of his speech discussing the West. His primary complaint isn’t NATO expansion, which gets only a cursory mention. The West is greedy and seeks to enslave and colonise other nations, like Russia. The West uses the power of finance and technology to enforce its will on other nations. To collect what he calls the “hegemon’s tax”.

To this end the West destabilises countries, creates terrorist enclaves and most of all seeks to deprive other countries of sovereignty. It is this “avarice” and desire to preserve its power that is the reason for the “hybrid war” the collective West is “waging on Russia”. They want us to be a “colony”. They do not want us to be free, they want Russians to be a mob of soulless slaves – direct quote. The rules-based order the West goes on about is “nonsense”. Who made these rules? Who agreed to them? Russia is an ancient country and civilization and we will not play by these “rigged” rules. The West has no moral authority to challenge the referendums because it has violated the borders of other countries. Western elites are “totalitarian, despotic and apartheidistic” – direct quote.

They are racist against Russia and other countries and nations. “Russophobia is racism”. They discriminate by calling themselves the “civilised world”. They colonised, started the global slave trade, genocided native Americans, pillaged India and Africa, forced China to buy opium through war. We, on the other hand, are proud that we “led” the anti-colonial movement that helped countries develop to reduce poverty and inequality. They are Russophobic (they hate us) because we didn’t allow our country to be pillaged by creating a strong CENTRALISED (emphasis his) state based on Christianity, Islam, Judaism and Buddhism. They have been trying to destabilise our country since the 17th century in the Times of Trouble. Eventually, they managed to “get their hands on our riches” at the end of the 20th century.

They called us friends and partners while pumping out trillions of dollars (his irony game is strong today). We remember this. We didn’t forget. The West claims to bring freedom and democracy to other countries but it’s the exact opposite of the truth. The unipolar world is anti-democratic by its very nature. It is a lie. They used nuclear weapons, creating a precedent. They flattened German cities without “any military need to do so”. There was no need for this except to scare us and the rest of the world. Korea, Vietnam. To this day they “occupy” Japan, South Korea and Germany and other countries while cynically calling them “allies”. The West has surveillance over the leaders of these nations who “swallow these insults like the slaves they are”. He then talks about bioweapon research (haven’t heard about them for a while) and human experiments “including in Ukraine”.

The US rules the world by the power of the fist. Any country which seeks to challenge Western hegemony becomes an enemy. Their neocolonialism is cloaked in lies like “containment” of Russia, China and Iran. The concept of truth has been destroyed with fakes and extreme propaganda (irony game still strong). You cannot feed your people with printed dollars and social media. You need food and energy. But Western elites have no desire to find a solution to the food and energy crises *they* (emphasis his) created. They solved the problems at the start of 20c with WW1 and the US established dominance of the world via the dollar as a result of WW2. In the 80s they had another crisis they solved by “plundering our country”. Now they want to solve their problems by “breaking Russia”.

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“It’s obvious to everyone who benefits from it,” Putin explained. “Those who benefit are the ones who have done it.”

Nord Stream Explosions Are A ‘Tremendous Opportunity’ – US (RT)

The US views the sabotage of the Nord Stream gas pipelines as a “tremendous opportunity” to wean the continent off of Russian energy, Secretary of State Antony Blinken told reporters on Friday. With winter approaching, Blinken said that the US wants Europe to decrease its fuel use. Speaking to reporters in Washington, Blinken boasted that the US is now “the leading supplier of [liquefied natural gas] to Europe.” In addition to shipping its own fuel to Europe, Blinken said that the US is working with European leaders to find ways to “decrease demand” and “speed up the transition to renewables.” “It’s a tremendous opportunity to once and for all remove the dependence on Russian energy and thus to take away from [Russian President] Vladimir Putin the weaponization of energy as a means of advancing his imperial designs,”Blinken declared.

The US likely stands to gain the most from the destruction of the Nord Stream 1 and Nord Stream 2 gas pipelines, which were damaged by a series of explosions off the Danish island of Bornholm earlier this week. Washington has for years been trying to convince European leaders to swap Russian gas for its LNG, and the severity of the damage to the undersea conduits now means that Europe is “indefinitely deprived” of Russian gas via this route, Russian energy operator Gazprom stated on Friday. In a speech on Friday, President Vladimir Putin blamed the explosions on“the Anglo-Saxons,” a Russian colloquialism for the US-UK transatlantic alliance. “It’s obvious to everyone who benefits from it,” Putin explained. “Those who benefit are the ones who have done it.”

While the way is now open for the US to sell its more expensive LNG to Europe, the shortfall cannot be covered overnight. US exporters warned throughout the summer that they will not be able to ship enough gas to meet demand on the continent, and many of Europe’s import terminals are still under construction or in planning. Meanwhile, energy bills are skyrocketing across Europe. In Germany, which faces the prospect of rapid “deindustrialization,” protesters took to the streets to demand the re-opening of Nord Stream 2, just days before the explosions. Food shortages have been predicted in Germany and firewood is in hot demand across the continent as citizens struggle to heat their homes. “There’s a lot of hard work to do to make sure that countries and partners get through the winter,” Blinken said, suggesting, as EU leaders have also done, that Europe work to “reduce demand” for gas.

Blinken

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“..von der Leyen: [..] any “deliberate disruption of the European energy infrastructure is unacceptable and will lead to the strongest retaliation.”

Watch out US! Poland! Denmark! Sweden!

Europe ‘Indefinitely Deprived’ Of Key Gas Supply Route – Gazprom (RT)

The damage to Russia’s Nord Stream 1 and 2 pipelines means Europe is indefinitely deprived of one of its key gas supply routes, Gazprom spokesman Sergey Kupriyanov said on Friday. “Essentially, Europe is indefinitely deprived of one of the key routes for obtaining a crucial energy resource. Russia and Gazprom spent a huge amount of energy and money to build and launch these pipelines because this is the shortest and safest, as we thought, way for Russian gas to reach European consumers. Now the pipelines are standing with puncture holes,” Kupriyanov said at a UN Security Council meeting. Technical data “allows [Gazprom] to say with certainty” that the sharp pressure drops were caused by physical damage, the spokesman stressed.

According to him, at the time of the incident, the pipelines were not transporting gas, but both were filled with the fuel and ready for service. There were about 800 million cubic meters of gas in the strings, which is equivalent to Denmark’s gas consumption for three months. “Gazprom has begun searching for possible solutions to get the Nord Stream system back up and running, but the timeline cannot yet be estimated… This is a very difficult technical task,” Kupriyanov said, noting that in order to assess the situation, Gazprom will have to start with a physical inspection of the damaged areas. The Danish authorities reported leaks on the pipelines on Monday after a local pipeline operator noted a loss of pressure on both the Nord Stream 1 and 2 pipelines earlier that day.

Danish and Swedish seismologists later spoke of a series of undersea explosions in the area. The Russian, American, and Swedish authorities said the leaks might have been the result of a deliberate attack. European Commission head Ursula von der Leyen said the incidents were the result of sabotage, warning that any “deliberate disruption of the European energy infrastructure is unacceptable and will lead to the strongest retaliation.” Russia called the incident a “terrorist attack” and summoned a UN Security Council meeting over it.

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“The US State Department declared that the idea the US was involved is “preposterous.”

Who Profits From Pipeline Terror? (Escobar)

The notion that Russian intel would destroy Gazprom pipelines is beyond ludicrous. All they had to do was to turn off the valves. NS2 was not even operational, based on a political decision from Berlin. The gas flow in NS was hampered by western sanctions. Moreover, such an act would imply Moscow losing key strategic leverage over the EU. Diplomatic sources confirm that Berlin and Moscow were involved in a secret negotiation to solve both the NS and NS2 issues. So they had to be stopped – no holds barred. Geopolitically, the entity that had the motive to halt a deal holds anathema a possible alliance in the horizon between Germany, Russia, and China.

The Poles, moreover, are terrified that with Russia’s partial mobilization, and the new phase of the Special Military Operation (SMO) – soon to be transformed into a Counter-Terrorism Operation (CTO) – the Ukrainian battlefield will move westward. Ukrainian electric light and heating will most certainly be smashed. Millions of new refugees in western Ukraine will attempt to cross to Poland. At the same time there’s a sense of “victory” represented by the partial opening of the Baltic Pipe in northwest Poland – almost simultaneously with the sabotage. Talk about timing. Baltic Pipe will carry gas from Norway to Poland via Denmark. The maximum capacity is only 10 billion cubic meters, which happens to be ten times less than the volume supplied by NS and NS2. So Baltic Pipe may be enough for Poland, but carries no value for other EU customers.

Meanwhile, the fog of war gets thicker by the minute. It has already been documented that US helicopters were overflying the sabotage nodes only a few days ago; that a UK “research” vessel was loitering in Danish waters since mid-September; that NATO tweeted about the testing of “new unmanned systems at sea” on the same day of the sabotage. Not to mention that Der Spiegel published a startling report headlined “CIA warned German government against attacks on Baltic Sea pipelines,” possibly a clever play for plausible deniability. The Russian Foreign Ministry was sharp as a razor: “The incident took place in an area controlled by American intelligence.” The White House was forced to “clarify” that President Joe Biden – in a February video that has gone viral – did not promise to destroy NS2; he promised to “not allow” it to work. The US State Department declared that the idea the US was involved is “preposterous.”

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Netherlands banned “export and provision of pipes for Russia’s use”. And this is not deliberate?!

Russian Gas Exports To EU Via TurkStream Plunge (RT)

Russian gas flows to the EU via the TurkStream pipeline dropped by a quarter at the end of September compared to the end of August, the Russian newspaper Vedomosti reported on Saturday.According to the report, which cited data from the association of Europe’s transmission system operators, on September 29 about 32 million cubic meters of gas were supplied to the EU through the Strandzha 2-Malkoclar entry point on the Turkish-Bulgarian border. This is about 25% less than at the end of August, when the pipeline supplied about 43 million cubic meters of gas per day. On Thursday, the Russian-owned operator of the TurkStream pipeline,

South Stream Transport, said that the Netherlands had withdrawn its gas export license due to the latest EU sanctions package against Russia, which implies a ban on the export and provision of pipes for Russia’s use. Announcing their decision to revoke the license ahead of schedule, the Dutch authorities also referred to the ban on the supply of goods and provision of services, including technical assistance and maintenance of the pipeline in Russia’s exclusive economic zone and on its continental shelf. European gas futures spiked on the news of the license withdrawal, jumping 10% on Friday to $2,087 per thousand cubic meters, or €205.995 per megawatt hour.However, South Stream Transport later noted that the sanctions do not expressly impose restrictions on the transportation of gas via the pipeline. The company has already applied for a renewal of its export license.

Representatives of the operator said that the gas delivered to Europe via Turkish Stream supports the region’s energy security and that the pipeline is likely to be exempted from sanctions for this reason. TurkStream is a two-string pipeline with capacity of 31.5 billion cubic meters of gas per year. It carries Russian gas across the Black Sea to Türkiye and from there to countries of southern and southeastern Europe. With Nord Stream 1 currently out of operation due to this week’s leakage, TurkStream is the only remaining gas transmission system that bring gas to Europe besides the transit line running through Ukraine. Russian presidential spokesman Dmitry Peskov said on Friday that the TurkStream license withdrawal would not affect its operation and that gas supplies continue.

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“..the temperature when heating buildings will be reduced by one degree Celsius..”

Russia Halts Gas Delivery To Italy (RT)

Russia’s Gazprom has informed Italian energy company Eni that it will not be able to supply gas to the country on Saturday, due to the “impossibility of transporting it” through Austria, the Italian company said in a statement. “Gazprom informed that it is not able to confirm the gas volumes requested for today, stating that it’s not possible to supply gas through Austria. Therefore, today’s Russian gas supplies to Eni through the Tarvisio entry point will be at zero,” the statement from Eni said, as cited by news agency RIA Novosti. Eni has said it will provide further information “in case supplies will be restored.” Gazprom has not yet specified the reason for its inability to supply gas through Austria. Grid operator Gas Connect Austria has not made any statements regarding the situation so far.


Italy receives Russian gas via the one remaining transit line through Ukraine. The gas flows to Italy after passing through Austria. Other European countries that receive Russian gas through Ukraine include Slovakia, Moldova, Romania, and the Czech Republic. Earlier, the website of the Ukrainian gas transit operator reported that the flow through Ukraine is expected to amount to around 41.6 million cubic meters on October 1. Since February, the share of Russian gas in Italian imports has fallen from 40% to roughly 18%, with the authorities saying they can cope with the shortfall expected in the winter by using alternative fuel sources. The country has adopted an energy-saving plan to reduce gas consumption. As part of this plan, the heating season will be cut by 15 days and the temperature when heating buildings will be reduced by one degree Celsius.

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AP doesn’t specify how much goes to Greece, but I would guess at least 1 billion cubic meters.

Azerbaijan To Increase Gas Deliveries To Bulgaria, Via Greece (AP)

Azerbaijan’s president said Friday that his country is a reliable partner and will stick to an agreement to double gas exports to the European Union by 2027. Speaking to reporters in Bulgaria’s capital, President Ilhan Aliyev called a new gas interconnector with Greece “a historic achievement and an opportunity for Azeri gas to reach Europe in larger quantities.” Aliyev was in Sofia for the official launch Saturday of a new pipeline that will supply natural gas from Azerbaijan to Bulgaria, whose vital supply of Russian gas was cut off in April amid the fallout from Russia’s invasion of Ukraine. At the event on Saturday, he will join heads of state and governments from the region, as well as European Commission President Ursula von der Leyen.

The 182-kilometer pipeline is designed to run from the northeastern Greek city of Komotini to Stara Zagora in central Bulgaria. It is expected to start with an initial capacity of 3 billion cubic meters of gas a year, with the prospect of future expansion to 5 billion cubic meters. Bulgarian President Rumen Radev stressed the importance of the new gas link not only for Bulgaria, but for the continent. “It decisively changes the energy map of Europe,” he said. The desire for other sources of gas increased significantly after Moscow decided to turn its natural gas deliveries into a political weapon. In late April, Russia cut off gas supplies to Bulgaria after it refused Moscow’s demand to pay for the deliveries in rubles, Russia’s currency. Relations between the two former Soviet bloc allies have tanked in recent months, and last month Bulgaria ordered the expulsion of 70 Russian diplomats, triggering an angry response from Moscow.

Bulgaria, which has a contract for 1 billion cubic meters of Azeri gas, or one-third of the country’s annual needs, wants to increase the volume by between a half-billion to 1 billion cubic meters more per year following the suspension of Russian gas flows were suspended. Radev said he received a letter Thursday from gas system operators in Bulgaria, Romania, Hungary, and Slovakia that offered to transport gas from Azerbaijan using the integrated networks of their countries. He said Bulgaria could host a summit of the four countries to discuss possibilities for such gas transfers. The topic has become important after Russia said it would suspend some maintenance and repair work of a gas pipeline that supplies Turkey and countries like Serbia and Hungary.

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“TotalEnergies operates in over 130 countries spanning five continents..” US LNG? Qatar?

Greek Gas Utility Clinches Winter LNG Deal (R.)

Greece’s biggest gas utility, DEPA Commercial, has clinched a deal with TotalEnergies for the supply of liquefied natural gas (LNG) over the winter months if needed, the Greek energy ministry said on Thursday. The deal stipulates that TotalEnergies will supply Greece with two LNG cargoes a month for five months until March 2023, the ministry said in a statement The total LNG that would be delivered for the five months would be 10 terrawatt hours (TWh), though Greece reserves the right not to purchase the gas but pay a cancellation fee. A deal price was not disclosed, but the ministry said Greece would buy the gas at a benchmark price rather than the highly TTF price.


“It’s a deal of key importance for the country’s energy supplies in the event gas flows from Russia are curbed or halted,” the statement said. Greece has been receiving Russian gas via the TurkStream pipeline, which also delivers to Hungary via Serbia. Athens has been working to reduce its reliance on Russian gas, ramping up LNG supplies and reopening some coal-fired power plants while also preparing to switch some gas-fired stations to diesel.

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“The problem is that its plans for how the Ukraine war and anti-Russian sanctions have worked out so far have been just the reverse of what was announced.”

The Euro Without Germany (Michael Hudson)

On Tuesday, September 27 when news of the Nord Stream gas attacks became known, U.S. Secretary of State Antony Blinken shed crocodile tears and said that attacking Russian pipelines was “in no one’s interest.” But if that really were the case, no one would have attacked the gas lines. I have no doubt that U.S. strategists have a game plan for how to proceed from here, and to do so that indeed is in what the neocons claim to be in the U.S. interest – that of maintaining a unipolar neoliberalized and financialized global economy for as long as they can. They have long had a plan for countries that are unable to [service] their foreign debts. The IMF will lend them the money, conditional upon the debtor country raising the foreign exchange to repay the (increasingly expensive) dollar loans by privatizing what remains of their public domain, natural-resource patrimony and other assets, mainly to U.S. financial investors and their allies.

Will it work? Or will debtor countries band together and work out ways to restore the seemingly lost world of affordable oil and gas prices, fertilizer prices, grain and other food prices, and metals or raw materials supplied by Russia, China and their allied Eurasian neighbors? That is the next great worry for U.S. global strategists. It seems less easy to solve than was done by the sabotage of Nord Stream 1 and 2. But the solution seems to be the usual U.S. approach: something military in nature, new color revolutions. The aim is to gain the same power over Global South and Eurasian countries that American diplomacy wielded over Germany and other European countries via NATO.

Unless an institutional alternative is created to the IMF, World Bank, International Court, World Trade Organization and the numerous UN agencies now biased by U.S. diplomats and their proxies, the coming decades will see the U.S. economic strategy of financial and military dominance unfold as Washington has planned. The problem is that its plans for how the Ukraine war and anti-Russian sanctions have worked out so far have been just the reverse of what was announced. That may give some hope for the world’s future. The opposition and even contempt by U.S. diplomats to other countries acting in their own economic interest and social values is so strong that they are unwilling to think through just how these countries might develop their own alternative to the U.S. world plan. The question is thus how successfully these other countries may develop their alternative new economic order, and how they can protect themselves from the fate that Europe has just imposed upon itself for the next decade.

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“16,000 businesses may go bankrupt this year..” Imagine next year.

Thousands Of German Stores On Brink Of Closure – Spiegel (RT)

Over 15,000 German stores are facing bankruptcy due to soaring energy costs, Der Spiegel reported on Friday, citing the German Retail Association (HDE). According to the report, the HDE wrote a letter to Vice-Chancellor and Economy Minister Robert Habeck in which it warned that the “exploding energy costs” are making it impossible for increasing numbers of retailers to make ends meet. The group called the situation “existentially threatening” and said that around 16,000 businesses may go bankrupt this year, while the “negative trend” is likely to continue through 2023. The group said the rise in energy costs, which have spiked by 147% on average since the beginning of the year, is preventing retailers from making a profit. The share of electricity costs in sales volumes for retailers has already reached almost 3% on average and many in the industry expect this figure to rise to as high as 5% in 2023.


According to HDE President Josef Sanktjohanser and Managing Director Stefan Genth, the returns generated in many retail sectors are already extremely low today. In the case of clothing, the operating profit as a percentage of sales is 2.1%, while in the case of shoes it is currently negative at -1.2%. Even in the food segment, it is only 2-4%. Such a state of affairs may put many companies “at a disadvantage,” the group warned. Given the sharp decline in the purchasing power of private households and record-high inflation, it will likely not be possible to shift the rising energy costs to consumers, the HDE states. Therefore, the group urged Berlin to intervene by temporarily limiting tariffs and cutting electricity taxes to a minimum.

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“Ukraine’s parliament formally abandoned neutrality later in 2014.”

The Great Game In Ukraine Is Spinning Out Of Control (Jeffrey Sachs)

Under Clinton’s watch, NATO expanded to Poland, Hungary, and the Czech Republic in 1999. Five years later, under President George W. Bush, Jr. NATO expanded to seven more countries: the Baltic states (Estonia, Latvia, and Lithuania), the Black Sea (Bulgaria and Romania), the Balkans (Slovenia), and Slovakia. Under President Barack Obama, NATO expanded to Albania and Croatia in 2009, and under President Donald Trump, to Montenegro in 2019. Russia’s opposition to NATO enlargement intensified sharply in 1999 when NATO countries disregarded the UN and attacked Russia’s ally Serbia, and stiffened further in the 2000’s with the US wars of choice in Iraq, Syria, and Libya. At the Munich Security conference in 2007, President Putin declared that NATO enlargement represents a “serious provocation that reduces the level of mutual trust.”

Putin continued: “And we have the right to ask: against whom is this expansion intended? And what happened to the assurances [of no NATO enlargement] our western partners made after the dissolution of the Warsaw Pact? Where are those declarations today? No one even remembers them. But I will allow myself to remind this audience what was said. I would like to quote the speech of NATO General Secretary Mr. Woerner in Brussels on 17 May 1990. He said at the time that: ‘the fact that we are ready not to place a NATO army outside of German territory gives the Soviet Union a firm security guarantee.’ Where are these guarantees?” Also in 2007, with the NATO admission of two Black Sea countries, Bulgaria and Romania, the US established the Black Sea Area Task Group (originally the Task Force East).

Then in 2008, the US raised the US-Russia tensions still further by declaring that NATO would expand to the very heart of the Black Sea, by incorporating Ukraine and Georgia, threatening Russia’s naval access to the Black Sea, Mediterranean, and Middle East. With Ukraine’s and Georgia’s entry, Russia would be surrounded by five NATO countries in the Black Sea: Bulgaria, Georgia, Romania, Turkey, and Ukraine. Russia was initially protected from NATO enlargement to Ukraine by Ukraine’s pro-Russian president Viktor Yanukovych, who led the Ukrainian parliament to declare Ukraine’s neutrality in 2010. Yet in 2014, the US helped to overthrow Yanukovych and bring to power a staunchly anti-Russian government. The Ukraine War broke out at that point, with Russia quickly reclaiming Crimea and supporting pro-Russian separatists in the Donbas, the region of Eastern Ukraine with a relatively high proportion of Russian population. Ukraine’s parliament formally abandoned neutrality later in 2014.

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Churchill, Nobel Peace Prize, but embedded in the Bandera legacy. Yeah, makes a lot of sense…

Zelensky’s Lies Can’t Hide Ukraine’s Bloody Role In The Holocaust (Dershowitz)

Volodymyr Zelensky has performed a truly great service on behalf of the Ukrainian people. Because of his Churchill-like determination to resist Russian aggression, I have proposed him for the Nobel Peace prize. But he has in the recent past mendaciously denied the role of Ukrainian people in the Holocaust. He has used that argument to forcefully claim that Israel owes Ukraine offensive weapons. Several days ago, he escalated his criticism, saying he shocked that Israel hasn’t capitulated to his demands. He has never apologized for the following statement he made this past March: “The Ukrainians made a choice 80 years ago, we saved Jews…” He is right the Ukrainian people made a choice 80 years ago, but it wasn’t to save Jews.

Almost without exception, Ukrainians either participated in the mass murder of Jews or said nothing as their Jewish neighbors were rounded up and slaughtered in places like Babi Yar. Many of those who pulled the trigger were themselves Ukrainian, recruited into the mobile killing squads by the Nazis. Vanishingly few saved Jews. The complicity of Ukrainians in these mass murders was greater than in most other countries. Hundreds of thousands of Ukrainian Jews were murdered. Nor was this the first time that the Ukrainian people made a similar choice. In 1648, Bogdan Chmielnicki led a pogrom that resulted in the deaths of tens of thousands of Jews, including babies, children, and mothers. That was a long time ago, but the statue of this genocidal murderer still stands in the center of Kyiv, and his picture still adorns the Ukrainian five-dollar bill. That is now! Ukraine has made a choice: to honor the memory of a mass murderer of Jews.

Between the Chmielnicki murders and the Holocaust, the Ukrainian people made many other choices: they conducted pogrom after pogrom against Jewish families. Antisemitism was rampant throughout the Ukraine. That is why so many Ukrainian Jews immigrated to the United States and elsewhere. In recent years, the situation in Ukraine has improved measurably. Though there are still a large number of antisemites in Ukraine—including in certain units of the armed forces—the remembrance of the Holocaust has caused many Ukrainians to abandon the traditional antisemitism that plagued the country. They even voted for Zelensky, who is a man of Jewish heritage.

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“..Plaintiff is asking the Special Master to order disclosure of the names of each attorney and Special Agent who was exposed to materials eventually provided to the Privilege Review Team.”

FBI Agents Improperly Saw Privileged Trump Communications: Lawyers (ET)

The FBI team that seized documents from former President Donald Trump’s Florida resort improperly viewed communications between Trump and an attorney, violating attorney-client privilege for a third time, lawyers for Trump said in a new filing. The filter process set up by the government to try to prevent FBI agents from viewing privileged materials has already failed twice, the government has acknowledged. On Sept. 26, government officials informed Trump lawyers of a third failure, the lawyers said in a new filing lodged in a federal court in southern Florida. FBI agents viewed an email that they sent to the Privilege Review Team, a team that was supposed to filter out all potentially privileged materials before agents were able to view any.

The review team has characterized the email as non-privileged, but Trump disagrees. “Plaintiff believes the email falls squarely into the category of attorney-client privileged,” Trump lawyers told U.S. District Judge Raymond Dearie, a Reagan appointee who is serving as a special master in the case. Benjamin Hawk, the Department of Justice (DOJ) official in charge of the filter team, claimed during a recent hearing that the first two failures to separate potentially privileged materials were examples of the filter process working, but U.S. District Judge Aileen Cannon, the Trump appointee who inserted Dearie into the case, expressed doubt. The instances “indicate that, on more than one occasion, the Privilege Review Team’s initial screening failed to identify potentially privileged material,” she said.

FBI agents who viewed the potentially privileged materials may still be working on the case, according to a sealed filing described by Cannon. In the new filing, Trump’s lawyers said they want the names of all government officials who were exposed to the potentially privileged materials. “The unilaterally imposed filter team, which made no effort to contact Plaintiff’s counsel throughout its review process, has admitted to three breaches so far,” the lawyers said. “All this before review by the Special Master and the Plaintiff. By way of this filing, Plaintiff is asking the Special Master to order disclosure of the names of each attorney and Special Agent who was exposed to materials eventually provided to the Privilege Review Team.”

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Double-entry bookkeeping tells Steve that money is indeed destroyed. Just as Hyman Minsky and Augusto Graziani said.

A Little Knowledge is a Dangerous Thing (Steve Keen)

I owe enormous intellectual debts to Hyman Minsky and Augusto Graziani. But at one point, my “little knowledge” led me to believe, falsely, that they had both made a huge mistake in claiming that repaying debt destroyed money: Graziani: As soon as firms repay their debt to the banks, the money initially created is destroyed. (Graziani 1989) Money is created as banks lend—mainly to business—and money is destroyed as borrowers fulfill their payment commitments to banks. (Minsky 1982) This couldn’t be right, I thought: surely once banks had created money, they wouldn’t let it be destroyed? I considered cash loans in particular—surely the cash wasn’t destroyed on receipt, but put back into the vault for relending?

This is why the model of money in my Debunking Economics (Keen 2011) is of a cash-lending bank, and not a modern electronic banking system, where loans are simultaneously matched by direct payments into deposit accounts. Then I developed Minsky, the monetary modelling software that I named in honour of Hyman Minsky. I came to really understand double-entry bookkeeping, and realised that Minsky and Graziani were correct, and I was wrong. These days, money is primarily the sum of private bank deposit accounts. When you show modern bank lending and bank debt repayment in a double-entry table, it’s obvious that the former creates money, and the latter destroys it.

This points to a general rule about money creation and destruction: leaving aside cash loans, and direct government payments of cash to the non-bank public, to create money, an operation must increase both the Assets and Liabilities (or short-term Equity) sides of the banking system’s ledger. Conversely, this means that operations that occur exclusively on either the Assets side or Liabilities & Equity side neither create nor destroy money. Having made this mistake myself, I came to realise that understanding double-entry bookkeeping is the “Holy Grail” to understanding money, and therefore that if someone makes claims about money that contradict double-entry bookkeeping (DEB for short), then they should be ignored, because they don’t know what they are talking about.

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“If someone submits their experience to VAERS they want and expect to have it investigated by the FDA. This includes autopsy reports..”

FDA Withholds Autopsy Results on People Who Died After COVID-19 Vaccines (ET)

The U.S. Food and Drug Administration (FDA) is refusing to release the results of autopsies conducted on people who died after getting COVID-19 vaccines. The FDA says it is barred from releasing medical files, but a drug safety advocate says that it could release the autopsies with personal information redacted. The refusal was issued to The Epoch Times, which submitted a Freedom of Information Act for all autopsy reports obtained by the FDA concerning any deaths reported to the Vaccine Adverse Event Reporting System following COVID-19 vaccination. Reports are lodged with the system when a person experiences an adverse event, or a health issue, after receiving a vaccine. The FDA and other agencies are tasked with investigating the reports. Authorities request and review medical records to vet the reports, including autopsies.

The FDA declined to release any reports, even redacted copies. The FDA cited federal law, which enables agencies to withhold information if the agency “reasonably foresees that disclosure would harm an interest protected by an exemption,” with the exemption being “personnel and medical files and similar files the disclosure of which would constitute a clearly unwarranted invasion of personal privacy.” Federal regulations also bar the release of “personnel, medical and similar files the disclosure of which constitutes a clearly unwarranted invasion of personal privacy.” The Epoch Times has appealed the denial, in addition to the recent denial of results of data analysis of VAERS reports.

Kim Witczak, a drug safety advocate who advises the FDA as part of the Psychopharmacologic Drugs Advisory Committee, said that the reports could be released with personal information blacked out. “The personal information could easily be redacted without losing the potential learnings from [the] autopsy,” Witczak told The Epoch Times via email. People make the choice to submit autopsy results to the Vaccine Adverse Event Reporting System, Witczak noted. “If someone submits their experience to VAERS they want and expect to have it investigated by the FDA. This includes autopsy reports,” she said.

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“..most of them have battery backups that last around 30 minutes to run the mobile antennas. After that they go dark.”

Next On Europe’s Doomsday List: Collapse Of Cell Phone Networks (ZH)

It’s not just heating that could be missing across Europe this winter: cell phones may be the next to go. That’s because if power cuts or energy rationing knocks out parts of the mobile networks across the region, mobile phones could go dark around Europe this winter according to the latest doomsday reporting from Reuters. While everyone knows by now that Europe’s chances of rationing and power shortages have exploded ever since Moscow suspended gas supplies, in France, the situation is even worse as several nuclear power plants are shutting down for maintenance. And the cherry on top: telecom industry officials told Reuters they fear a severe winter will put Europe’s telecoms infrastructure to the test, forcing companies and governments to try to mitigate the impact (i.e., more bailout demands).

The problem, as four telecoms executives put it, is that currently there are not enough back-up systems in many European countries to handle widespread power cuts, raising the prospect of mobile phone outages. Realizing that in just weeks Europe could be cell phone free, countries including France, Sweden and Germany, are scarmbling to ensure communications can continue even if power cuts end up exhausting back-up batteries installed on the thousands of cellular antennas spread across their territory. Alas, like with everything else in Europe, it’s too little, too late and Europe is facing a truly historic cell phone black out because while Europe has nearly half a million telecom towers, most of them have battery backups that last around 30 minutes to run the mobile antennas. After that they go dark.

One of the alternatives being discussed is pushing Europe back to communist era blackout regimes: In France, a plan put forward by electricity distributor Enedis, includes potential power cuts of up to two hours in a worst case scenario, two sources familiar with the matter said. The general black-outs would affect only parts of the country on a rotating basis. Essential services such as hospitals, police and government will not be impacted, the sources said. And now, it appears that cell phones are considered essential too: the French Federation of Telecoms (FFT), a lobby group representing Orange, Bouygues Telecomand Altice’s SFR, put the spotlight on Enedis for being unable to exempt antennas from the power cuts.

Enedis said it was able to isolate sections of the network to supply priority customers, such as hospitals, key industrial installations and the military and that it was up to local authorities to add telecoms operators infrastructure to the list of priority customers. “Maybe we’ll improve our knowledge on the matter by this winter, but it’s not easy to isolate a mobile antenna (from the rest of the network),” said a French finance ministry official with knowledge of the talks.

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What Reuters claims here is that the banks are today pushed to not sell, but buy dollars -with yuan-, only to sell them tomorrow, to support the yuan?!

At the same time, China wants the yuan to play a big part in the new currency basket they want to replace the USD as reserve currency. Problem is, it’s too weak right now.

China Tells State Banks To Sell Dollars, Buy Yuan (R.)

China’s central bank has asked major state-owned banks to be prepared to sell dollars for the local unit in offshore markets as it steps up efforts to stem the yuan’s descent, four sources with knowledge of the matter said. State banks were told to ask their offshore branches, including those based in Hong Kong, New York and London, to review their holdings of the offshore yuan and ensure U.S. dollar reserves are ready to be deployed, three of the sources, who declined to be identified, told Reuters. The simultaneous selling of dollars and buying of yuan could put a floor under the Chinese currency, which has lost more than 11% to the dollar so far this year and looks set for its biggest annual loss since 1994, when China unified its official and market rates.

The scale of this round of dollar selling to defend the weakening yuan will be rather big, one of the sources said. [..] While the yuan’s depreciation has been gradual and in line with the decline in major currencies against a dollar buoyed by aggressive Federal Reserve monetary tightening, its decline to the weaker side of 7-per-dollar has raised concerns about domestic sentiment and potential capital outflows. The offshore yuan moves in lock-step with the onshore unit, but its trading volumes account for about 70% of all yuan FX trades globally, dwarfing the volumes traded on the mainland. Chinese authorities have intervened in the past in the offshore yuan market to steer the yuan.

Sources said the intervention plan involved using state lenders’ dollar reserves primarily. But the total amount of dollar selling is yet to be determined as the yuan’s movements are largely dependent on dollar moves and the Fed’s tightening trajectory, the source said. China burnt through $1 trillion of its official FX reserves to prop up the currency after a one-off 2% devaluation in 2015 that roiled global financial markets. State banks, which usually act as the PBOC’s agents in offshore markets, are scrambling to procure more dollars in offshore markets, one of the sources said. The People’s Bank of China did not respond immediately when asked by Reuters about state banks stocking up on dollars.

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