Menu Icon

Debt Rattle May 7 2025

May 072025
 
 May 7, 2025  Posted by at 9:30 am Finance Tagged with: , , , , , , , , , , ,  64 Responses »


Felix Vallotton Verdun 1917

 

• Bessent Says US Is Negotiating With 17 Out of 18 Major Trade Partners (JTN)
• Bessent and USTR Greer Will Meet Chinese Trade Counterparts in Switzerland (CTH)
• Chinese Exporters Dodging US Tariffs – FT (RT)
• China May Cave to Trump on Tariffs Soon (Matt Margolis)
• The EU Zombie Uses Trump as Cover to Further Feed on Citizens (NC)
• The Death of Old Europe (von Hoffmeister)
• Canada’s War on… Canada (Solway)
• Canada: A Post-Election Autopsy (Solway)
• The Trump-Iran Deal, Explained (Victor Davis Hanson)
• $373M in DEI Funding at US Universities in Four Years (Salgado)
• OpenAI Blinks: Scraps For-Profit Plan After Outside Pressure (ZH)
• (None Dare Call It) Treason of the Judiciary (Miele)
• SCOTUS Rules On Trump’s Ban On Transgenders In The Military (Downey Jr)
• President Trump Sends Message of Support for Ed Martin as DC Attorney (CTH)
• This One Judge Keeps Getting Trump Cases, and It’s No Accident (Matt Margolis)
• America First Legal sues Supreme Court Chief Justice John Roberts (JTN)
• The Treaty That Kept India And Pakistan In Check Is Gone. Now What? (Chopra)

 

 

 

 

Big as it gets

Carney

Ritter
https://twitter.com/SMO_VZ/status/1919507173295718879

Orban
https://twitter.com/PM_ViktorOrban/status/1919730442808307869

Levine

Sharia

Fico
https://twitter.com/GlobalDiss/status/1919724917135646990

Catherine Austin Fitts talked about it

 

 

 

 

“I would be surprised if we don’t have more than 80% or 90% of those wrapped up by the end of the year,” he continued. “That may be much sooner. I would think that perhaps as early as this week, we will be announcing trade deals with some of our largest trading partners.”

• Bessent Says US Is Negotiating With 17 Out of 18 Major Trade Partners (JTN)

Treasury Secretary Scott Bessent on Tuesday testified to Congress that the United States is in the process of negotiating with 17 of its largest trading partners. The secretary told the House Appropriations Subcommittee on Financial Services and General Government that they have received good offers from the countries they are currently negotiating with, in the wake of President Donald Trump’s tariffs. Bessent did not give a specific timeline for when trade deals would be reached, but said he expects most deals will be reached by the end of the year, according to Fox Business.

“There are 18 very important trading relationships. We are currently negotiating with 17 of those trading partners,” Bessent said. “China – we have not engaged in negotiations with as of yet. “Approximately 97% or 98% of our trade deficit is with 15 countries, 18% of the countries are major trading partners, and I would be surprised if we don’t have more than 80% or 90% of those wrapped up by the end of the year,” he continued. “That may be much sooner. I would think that perhaps as early as this week, we will be announcing trade deals with some of our largest trading partners.”

Bessent did not specify what countries they expect a deal with soon, or what the details of those deals would be. But he did state he believes the U.S. will see a reduction in the tariffs it’s charged by other countries. Hours after his testimony, officials indicated that formal trade negotiations with China could take place as early as Thursday, when the secretary travels to Switzerland. U.S. trade representative Jamieson Greer is also expected to meet with Chinese trade officials in Switzerland. The testimony also coincided with Trump’s meeting with new Canadian Prime Minister Mark Carney. Canada and Mexico are two of the U.S.’s largest trading partners, along with China, Germany and Japan.

India
https://twitter.com/KanekoaTheGreat/status/1919798852426858673

Read more …

A chance meeting! It allows everyone to save face…

• Bessent and USTR Greer Will Meet Chinese Trade Counterparts in Switzerland (CTH)

The media have been going bananas wondering when President Trump will begin negotiations with China. President Trump has been very clear that there is no need to open negotiations with China, but all discussions are welcome. Essentially the point is that tariffs will remain in place until Beijing gets to a point where they acquiesce to the reality of President Trump’s terms for reciprocal trade. The goal is to bring manufacturing back to the USA, not generate terms where manufacturing remains in China. The Chinese trade delegation is scheduled to be in Switzerland at the same time as Treasury Secretary Scott Bessent and U.S. Trade Representative Jamieson Greer are scheduled to be there. Both Bessent and Greer announced today they will meet with their Chinese counterparts on the sidelines of their travel to Switzerland.

USTR Press Release – […] “At President Trump’s direction, I am negotiating with countries to rebalance our trade relations to achieve reciprocity, open new markets, and protect America’s economic and national security,” said Ambassador Greer. “I look forward to having productive meetings with some of my counterparts as well as visiting with my team in Geneva who all work diligently to advance U.S. interests on a range of multilateral issues. ”While in Switzerland, Ambassador Greer will also meet with his counterpart from the People’s Republic of China to discuss trade matters.”

Treasury Secretary Press Release – “During Secretary Bessent’s visit to Switzerland, he will meet with President Karin Keller-Sutter of Switzerland, during which the Secretary will follow up on their recent meeting on the sidelines of the recent World Bank Group (WBG) – International Monetary Fund (IMF) Spring Meetings. While in Switzerland, Secretary Bessent will also meet with the lead representative on economic matters from the People’s Republic of China (PRC). (link) As we previously noted, the Swiss are very interested in resolving their trade status quickly. The Swiss Franc is now at the highest point against the U.S dollar in decades. One franc is worth 1.21 dollars. This makes their exports cost even more. The Swiss government desperately needs to lower the value of their currency. The Swiss central bank has already dropped interest rates to 0.25% and is now contemplating negative interest rates as a result.

Read more …

Xi can’t deny knowing about it.

• Chinese Exporters Dodging US Tariffs – FT (RT)

Chinese exporters are using various methods to avoid steep US tariffs, including shipping goods through third countries to obscure their origin, Financial Times reported on Sunday, citing trade consultants, customs officials, and social media posts. The practice, known as “place-of-origin washing,” involves rerouting goods through countries such as Malaysia, Vietnam, Thailand, and South Korea, and re-exporting them to the United States with new certificates of origin. The administration of US President Donald Trump recently imposed steep tariffs of up to 145% on Chinese goods, citing national security and trade imbalance concerns.

Chinese exporters fear that the tariffs will deprive them of access to one of their most important markets. According to the outlet, Chinese social media platforms are awash with ads offering “place-of-origin washing.” “The US must know of it,” one Malaysian salesperson has told FT. “It cannot get too crazy so we are controlling the amount [of orders we take].” According to FT, authorities in Malaysia, Vietnam, and Thailand are looking into the alleged practice and are implementing measures to tighten origin checks. Chinese exporters typically sell goods “free on board” (FOB), transferring liability to buyers once the goods leave China, which complicates enforcement efforts, the outlet added.

The other reported circumvention method is mixing high-cost items with cheaper goods, so exporters can underreport overall values of shipments, the FT quoted a cross-border trade consultant as saying. There are intermediaries who reportedly offer “grey area” tariff workarounds to small- and medium-sized enterprises. Beijing has accused Washington of “economic bullying,” retaliating with 125% duties on all US imports and implementing export controls. The Chinese Commerce Ministry said last week that it was evaluating the possibility of trade negotiations with the US but reiterated that Washington must show “sincerity” by canceling its tariffs if it wants meaningful dialogue.

Read more …

“China’s social safety net is practically nonexistent. When Chinese workers lose their jobs, they’re completely on their own: no unemployment benefits, no food stamps, nothing. That’s why we’re seeing increasing unrest as workers demand back pay and protest unfair dismissals.”

• China May Cave to Trump on Tariffs Soon (Matt Margolis)

President Donald Trump’s tough stance on China is already producing results, and the evidence suggests that Chairman Xi Jinping will have no choice but to back down. The Chinese economy, long propped up by unfair trade practices, is starting to crumble under the weight of Trump’s strategic 145% tariffs on Chinese imports. Protests from furious factory workers in China demanding back pay are spreading across the country after President Trump’s tariffs on Chinese imports began impacting the communist nation’s economy. Unrest has been reported across the country as workers have taken to the streets protesting unpaid wages and challenging unfair dismissals following the closures of factories squeezed by US tariffs, according to Radio Free Asia.

Chinese industry leaders, meanwhile, are “extremely anxious” about the steep duties, with many telling factories and suppliers to halt or delay supplies, Wang Xin, head of an industry group representing more than 2,000 Chinese merchants told the Financial Times. The scale of the crisis is staggering. Goldman Sachs’ analysis indicates that 16 million Chinese jobs are at risk due to Trump’s tariffs. Chinese industry leaders are reportedly “extremely anxious” about the steep tariffs, which is likely an understatement given the mounting evidence of economic turmoil. “It’s not easy at the moment,” a 26-year-old toy factory worker told the FT. His employer, in the Chinese city of Zhejiang, mostly sells to the US, and management recently forced workers to take two weeks off unpaid in the face of the tariffs.

Last month, construction workers threatened to throw themselves off the buildings they were working on unless they received their unpaid wages in the northeastern city of Tongliao, Radio Free Asia reported. Elsewhere, a sporting goods factory in southern Hunan province also shut without warning last month, offering no compensation or social security benefits, leading hundreds of workers to go on strike, the outlet said. But here’s the key point that the mainstream media keeps missing: China’s social safety net is practically nonexistent. When Chinese workers lose their jobs, they’re completely on their own: no unemployment benefits, no food stamps, nothing. That’s why we’re seeing increasing unrest as workers demand back pay and protest unfair dismissals.

The Chinese Communist Party maintains its grip on power through economic growth and iron-fisted control. But when millions of workers take to the streets, even totalitarian regimes start to sweat. History shows that no government, not even one as powerful as China’s, can ignore the fury of its people indefinitely. Last month, Kevin O’Leary predicted that China’s economy would face serious pressure if the U.S. got tough on trade, which it has. He pointed out that millions of Chinese factory workers rely on American demand, and without access to it, China risks internal unrest or potentially economic collapse if the government prints money to keep people employed. This vindicates what Trump has been saying all along: China needs us far more than we need them. While some American companies are feeling the pinch from the tariffs, our diverse economy and robust worker protections provide a crucial buffer. China enjoys no such luxury. If Xi wants to stay in power, he’ll have to cave sooner rather than later.

Read more …

” It’s getting pushback from the European Parliament, but the fact is Ursula can do it anyways with minimal support from EU governments. She’s likely just waiting for the right moment.”

• The EU Zombie Uses Trump as Cover to Further Feed on Citizens (NC)

Donald Trump is the gift that keeps on giving for the western misleadership class. Any anti-democratic swindle on the EU wish list is now being sold as a remedy to the Orange Man. (And if it’s not Trump, it’s Russia). The US is no longer a reliable defense partner, they say. We must give more power to Brussels and send untold billions to weapons companies. The US is no longer a reliable economic partner, they say. We must increase competitiveness by weakening labor and empowering finance. The UK voters may have opted for Brexit, but London and Brussels are “defying Trump” with a “free and open trade” declaration that includes negotiations ‘on defense and security, fishing and energy, as well as a “common understanding” of which topics will be covered by intensive Brexit reset negotiations this year.’

The strange thing about these plans, however, is that they include reliance on US weapons and energy and alignment with US geopolitical and geoeconomic goals. Let’s focus here on how the EU is pressing ahead with plans to dramatically increase defense spending due to Trump Abandonment Syndrome. The EU Jazz Band Recent commentary by Rosa Balfour, director of Carnegie Europe, perfectly sums up these arguments. In a piece titled “Europe Tried to Trump-Proof Itself. Now It’s Crafting a Plan B” she explains why the EU has no choice but to redirect social spending towards the arms industry. Balfour’s romantic version of recent history starts on February 28. That’s when “the televised humiliation of Ukrainian President Vladimir Zelensky” took place, and “Europe realized it could no longer rely on its longtime ally, the United States.” And here she is on the jazzy wreckage:

“The shocking depth and breadth of this realization cannot be overemphasized. Political leaders in European states, the European Union, and NATO displayed composure and coordination, but behind the scenes, the soundtrack was a frantic free jazz jam session with dramatic thuds and a long pause—the silence at the realization that the European comfort zone was over. And now, what are these composed and coordinated “political leaders” doing? They announce that Ukraine is Europe’s first line of defense, make grand plans for a “coalition of the willing,” and declare that Ukraine will become a “steel porcupine”. The coalition of the willing has fallen apart. The steel porcupine was ridiculed. And while those in the Kremlin likely aren’t losing any sleep, Europeans should be. That’s because, as Balfour writes, the European Commission “can play supporting roles by mobilizing financial resources and handling complicated in-house horse trading.”

That’s one way of putting it. The Commission is inching its way towards invoking emergency powers to push through parts of its rearmament slush fund. It’s getting pushback from the European Parliament, but the fact is Ursula can do it anyways with minimal support from EU governments. She’s likely just waiting for the right moment. Let’s look at the status of the European militarization billions. On March 19, the Commission introduced a 150 billion euro proposal — a first installment of what’s to be at least $900 billion— for establishing the Security Action for Europe (SAFE) through the reinforcement of European defence industry Instrument. It wants to move forward with it under Article 122 emergency powers which need only a qualified majority in the Council —as opposed to the usual consensus— which allows Ursula and friends to get around pesky vetoes from member countries.

The procedure for 122 is as follows: 1) the Commission proposes a Council measure; following which 2) the Council adopts the measure in line with [qualified majority voting]. No additional elements or participants are envisaged. This article allows the proposal to bypass parliamentary negotiations and go straight to the Council for negotiation and adoption. The Parliament’s role is reduced to submitting suggestions and requesting debates. How’s that for your democratic rules-based order? In an April 23 secret vote, the European Parliament’s Committee on Legal Affair unanimously backed a legal opinion rejecting the Commission’s attempt to bypass it on a 150 billion euro rearmament fund. While it is a non-binding vote, it does signal opposition to Ursula’s plan, but it’s not some principled stand for the will of the people or any romantic notion like that.

No, it’s more about dividing up slices of the pie as European weapons industry lobbyists are increasingly active in Brussels and are trying to make sure their clients are rewarded. And so much of the feeble opposition is over getting a stronger “buy European” clause in SAFE (it currently requires 65 percent of war consumables and complex systems to come from within the EU, Ukraine, or EEA/EFTA states, which includes Turkiye and Norway. Why must Ursula’s commission sideline the Parliament and some member states in order to spend 900 billion on military purchases? They lay it out in their proposal. There’s the usual nonsense about Russia:

The EU and its Member States now face an intensifying Russian aggression against Ukraine and a growing security threat from Russia. It is also now clear that this threat will persist in the foreseeable future, considering that Russia has shifted to a war-time economy enabling a rapid scaleup of its military capabilities and replenishment of its stocks. The European Council therefore underlined, in its conclusions of 6 March 2025, that “Russia’s war of aggression against Ukraine and its repercussions for European and global security in a changing environment constitute an existential challenge for the European Union”. There’s also the Trump abandonment syndrome: At the same time, the United States, traditionally a strong ally, is clear that it believes it is over-committed in Europe and needs to rebalance, reducing its historical role as a primary security guarantor.

Read more …

” The disconnect between rulers and ruled has never been wider. The elites, ensconced in their Brussels bubble, continue to govern as if the people are an inconvenience, as if democracy means compliance rather than choice. The social contract is broken, and the backlash will only intensify.”

• The Death of Old Europe (von Hoffmeister)

The European Union, that grand and failing dream of technocrats, is dying. Its decline is not sudden or dramatic but a slow unraveling, a bureaucratic collapse in which every policy designed to sustain it only hastens its demise. It starves itself on the thin gruel of ideology – open borders dissolving nations into contested spaces, green mandates suffocating industry under the weight of unattainable standards, and a moralizing anti-Russian fervor that has left it isolated and energy-dependent. Once, Europe was the center of empires, the birthplace of civilizations that shaped the world. Now, it is a patient refusing medicine, convinced that its sickness is a form of enlightenment, that its weakness is a new kind of strength. The architects of this experiment still speak in the language of unity, but the cracks in the foundation are too deep to ignore.

Immigration was the first act of self-destruction, the point at which Western Europe’s ruling class severed itself from the people it claimed to govern. The elites, intoxicated by the rhetoric of multicultural utopia, flung open the gates without consideration for cohesion, for identity, for the simple reality that societies require more than abstract ideals to function. Cities have fractured into enclaves where parallel societies thrive, where police hesitate to patrol, where the native-born learn to navigate their own streets with caution. The promise was harmony, a blending of cultures into something vibrant and new. The reality is a quiet disintegration, a thousand unspoken tensions simmering beneath the surface. Politicians continue to preach the virtues of “diversity,” but the people – those who remember what it was like to have a shared history, a common language – are beginning to revolt. The backlash is no longer confined to the fringe. It is entering the mainstream, and the establishment trembles at what it has unleashed.

Then came the green delirium, the second pillar of Western Europe’s self-annihilation. Factories shutter under the weight of environmental regulations, farmers take to the streets in protest, and the middle class is squeezed between rising energy costs and stagnant wages. The climate must be saved, the leaders insist, even if the cost is economic ruin. Germany, once the industrial powerhouse of the continent, dismantles its nuclear infrastructure in favor of unreliable wind and solar power, only to return to coal when the weather turns unfavorable. There is a madness in this, a kind of collective hysteria where dogma overrides pragmatism, where the pursuit of moral purity blinds the ruling class to the suffering of ordinary citizens. The rest of the world watches, perplexed, as the EU willingly cripples itself for a cause that demands global cooperation – cooperation that is nowhere to be found. China builds coal plants, America drills for oil, India prioritizes growth over emissions, and the EU alone marches towards austerity, convinced that its sacrifice will inspire others. It will not.

And Russia – the great miscalculation, the strategic blunder that may yet prove fatal. Europe had a choice: to engage with Moscow as a partner, to integrate it into a stable continental order, or to treat it as an eternal adversary. It chose the latter, aligning itself fully with Washington’s confrontational stance, severing ties that had once provided cheap energy and economic stability. The pipelines are silent now, the ruble flows eastward, and Western Europe buys its gas at inflated prices from distant suppliers, enriching middlemen while its own industries struggle. Russia, spurned and sanctioned, turns to China, to India, to those willing to treat it as something other than a pariah. The Eurasian landmass is reconfiguring itself, and Europe is not at the center. The EU is on the outside, looking in, a spectator to its own irrelevance. The Atlanticists in Brussels believed they could serve two masters: their own people and Washington’s geopolitical whims. They were wrong.

In this unfolding drama, America and Russia emerge as twin pillars of Western civilization – different in temperament but united in their commitment to preserving sovereign nations against globalist dissolution. America, the last defender of the West’s entrepreneurial spirit and individual liberty, stands firm against the forces that would destroy borders and identities. Russia, keeper of traditional values and Christian heritage, guards against the cultural nihilism consuming Europe. Both understand that civilizations must defend themselves or perish; neither suffers the death wish that afflicts the Western European elites. And of Western Europe? It is a ghost at the feast, clutching its empty wineglass, muttering about “norms” and “values” as the world moves on without it. The European elites still cling to their illusions, still believe in the power of rhetoric over reality.

They speak of “strategic autonomy” while marching in lockstep with Washington’s wars, of “diversity” while their own cities become battlegrounds of competing identities, of “democracy” while silencing dissent with bureaucratic machinery and media censorship. The voters sense the decay. They rebel – in France, where Marine Le Pen’s supporters grow by the day; in Italy, where Giorgia Meloni’s government rejects the EU’s dictates on immigration; in Hungary, where Viktor Orbán openly defies the liberal orthodoxy. Yet the machine grinds on, dismissing every protest as populism, every objection as fascism. The disconnect between rulers and ruled has never been wider. The elites, ensconced in their Brussels bubble, continue to govern as if the people are an inconvenience, as if democracy means compliance rather than choice. The social contract is broken, and the backlash will only intensify.

Read more …

“Carney’s globalist net-zero platform will be sufficient to bring Canada to its knees without ever having to confront a political adversary.”

• Canada’s War on… Canada (Solway)

Canada is walking down a dangerous path. In a recent episode of “The Winston Marshall Show,” Steve Bannon has warned that “Canada could become ‘the next Ukraine’ if Russia or China presses territorial claims in the Arctic. “There’s no money there to defend anybody,” Bannon said, arguing that the United Kingdom, Canada’s historic security partner, “can’t defend itself.” Bannon suggested that Ottawa has only “two, maybe three years to act before external pressures harden.”

Bannon’s warning about Canada becoming a second Ukraine seems a gross exaggeration. Yet we recall that both Trudeau père and Trudeau fils were enamored of Communist China, that China has interfered in Canada’s elections favoring the Liberals, that Mark Carney is beholden to China to the tune of hundreds of millions in loans and “over $3 billion in politically sensitive investments with Chinese state-linked real estate and energy companies,” and that Canada hosted the Chinese military for tactical training in cold-weather warfare. Carney, a man of no charisma and less common sense for all his parenthetical savoir faire and encapsulated expertise, has already said that Canada’s friendly relationship and customary economic partnership with the U.S. is at an end. Meanwhile, an impoverished Canada will need generous amounts of foreign aid and may conceivably get it from China, in exchange for military bases and Canada-China cooperation in the Arctic.

As of this writing, Carney is in Washington for talks with Donald Trump. (Note, Trump is not in Ottawa for talks with Carney.) As Managing Editor for the Saskatchewan Standard, Christopher Oldcorn reports, Carney warned that any new deal “must be negotiated on our terms.” Trump was not impressed, telling Fox Business, “I’m not sure what he wants to see me about, but I guess he wants to make a deal.” Secretary of Commerce Howard Lutnick added, “They have their socialist regime, and it’s basically feeding off of America.” Carney is out of his depth, and Canada is in for a shock. Should a deal eventually emerge, it will not be on Carney’s terms.

At present, Canada reminds me of that preposterous knight in the Monty Python classic “The Holy Grail,” who continues pugnaciously challenging his antagonist even after he has lost both his arms and both his legs in the fight. This does not suggest that Canada is not a dangerous stump, and that it does not pose a threat to the U.S., for its alignment with China might conceivably mean a fentanyl-producing, militarily powerful, economically belligerent antagonist encroaching on its Arctic perimeter and entrenched along the 4,000-mile undefended border with the U.S. I would not put such recklessness past Carney as he labors diligently to turn Canada into a plebiscitarian sinkhole, deprived of political virility, reduced to penury and dependent for its survival on a foreign enemy.

I don’t see the U.S. engaging in open warfare with Canada, which Bannon considers a possibility. The scenario is far-fetched. Canada is not Ukraine; it is Lower Slobbovia. If you run a podcast called a “War Room,” you are prone to flights of fancy. This is not 1812, and America does not need to fire a single shot. It can batter Canada economically into submission with a stroke of the president’s pen despite China’s axial influence. America needs nothing that Canada has to offer, says Trump, neither cars, energy, lumber, etc. But it is also clear that the U.S. will not tolerate a Chinese presence on its northern border. For all his absurd bluster and his putting a Canadian slant on things, little man Carney will have to listen up.

Regrettably, Canada has become what Christopher Rufo, applying a well-known psychological personality concept, calls a “Cluster B society,” where “ideology replaces competence as a marker of distinction,” focusing on emotional excess, self-image, and dramatic posturing and leading to what psychologist Andrzej Lobaczewski calls a “pathocracy.” In a syndrome of this nature, Rufo laments, “The spontaneous life and beauty that are the fruits of a more balanced society will be snuffed out by grim commissars administering a Cluster B pathocracy. Our self-governing regime would be over.” Welcome to Canada and its preening prime minister.

Indeed, Canada is now foolishly engaged in a costly, surreptitious, self-harming skirmish with the U.S, which it could have avoided with a soupçon of maturity. The issue was never in doubt. To begin with, Canadian unity is fractured. There is little to no chance of gluing the pieces back together again and presenting a united front as a negotiating partner. It is at a distinct economic disadvantage in the so-called tariff war should Trump move to erase Canada’s $200 billion trade rip-off that helps to keep the country afloat, as Justin Trudeau himself admitted. Carney’s globalist net-zero platform will be sufficient to bring Canada to its knees without ever having to confront a political adversary. For the truth is that Canada is at war with itself. And it does not matter if it wins or loses, since it amounts to the same thing.

Read more …

“What Canada was, is not as important as what Canada is, and what it is becoming.” —Jason Stephan

• Canada: A Post-Election Autopsy (Solway)

As a result of the Liberal victory and the installation of Mark Carney as prime minister of Canada in the April 28, 2025, election, the country is now speeding down the Trans-Canada highway to certain destruction. Carney, of course, is a global financier, a promoter of centralized government control, a lover of censorship, and a climate change apostle who doubles as a trustee of the World Economic Forum and the United Nations Special Envoy on Climate Change and Finance. He carries three passports, Canadian, Irish, and British, and has spent the last decade out of Canada, which obviously makes him the ideal candidate for the prime ministership, Canadian to the bone. He is, in fact, the spitting image of the Canadian psyche, a small man, slack-faced, awkward in comportment, grim and humorless, rag doll-like in his person. The fit is almost providential.

As one commenter put it, “Carney looks the part… the funeral director of Canada.” The question that is making the rounds is how the Liberal Party managed to erase a 20-point deficit in the polls and shrug off three terms of social and economic devastation that have seen the country plummet toward third-world status while at the same time elevating the most unprepossessing choice possible to the prime minister’s office. Is the nation brain-dead? Does it have a death wish? Is it merely greed for government largesse? What are the factors that have contributed to Canada’s accelerating decline? There are several possibilities, acting singly or in concert. Donald Trump: When Trump began trolling Canada with his 51st state bagatelle, he proved once again that Canadians have no sense of humor.

Canadians, by and large, with thank-the-Lord saving exceptions, are an earnest, priggish, self-massaging, unexciting people of limited intelligence who, like most of a leftist bent, cannot recognize a joke, especially when brandished by an American. What former New York Post correspondent Emma Jo-Morris says of the media seems largely true of the Canadian electorate: “The media isn’t biased because it’s liberal; it’s biased because it has no concept of reality. The people who make media content are incapable of separating their own self-worship from objective truth.” Of course, being Liberal and having no concept of reality amount to the same thing. So Canadians took Trump seriously and got their hackles up, huffing and puffing and strutting and posturing. But when Trump launched his tariff fusillade, this was a bridge too far.

Canadians girded themselves for war like a mighty gnat prepared to crush an elephant rather than adopt the grown-up approach of Alberta Premier Danielle Smith, who visited Trump and proposed a negotiated settlement. This was Mark Carney’s and the Liberals’ gold-plated opportunity to rally a subfusc Canadian electorate to a losing cause and scrub the Conservatives’ favorable poll numbers, leading ultimately to an electoral victory that will likely destroy the country. Indeed, Canada is more ragged than it ever was. What was once a Hudson Bay blanket is now a patchwork quilt. The New Democratic Party: After years of propping up the Liberals, leader Jagmeet Singh and the NDP came crashing down. The Party lost not only its longtime leader but also its official party status.

Its 25 parliamentary seats were reduced to seven. It is likely that many of the lost 18 seats defected to Carney’s Liberals, putting them over the top, good enough for a minority government, just three seats short of a majority. There is speculation that some or all of the remaining NDP rump may follow suit, giving the Liberals the majority government they desperately crave. Biased Coverage: The Canadian media and paper press are basically no different from their Pravda-like American cousins, trafficking in lies, innuendoes, suppressions, and outright interference in the electoral process. This is their stock-in-trade. With only a few outliers like Rebel News, the Western Standard, and two or three others, the press has become a vast and undifferentiated propaganda network for the Liberal machine, flush with Liberal plugola. Canada’s public broadcaster, the CBC, is supported by an annual $1.4 billion grant, which Carney has promised to inflate and Conservative leader Pierre Poilievre had threatened to eliminate. The sequel was predictable.

Read more …

Can’t conquer Iran, Victor. Start there. Or Yemen.

• The Trump-Iran Deal, Explained (Victor Davis Hanson)

Just recently, the Houthis, that is the terrorist organization that controls half of Yemen and has been hit hard by the United States for its interruption of maritime commerce in the Red Sea and its serial attacks on Israel, has been—I guess you would say—neutered. Its port facilities, its airport, a lot of its missile depots, its command and control have all been neutralized. But yet, here they are with a vestigial force. They just sent a missile, not just into Israel, but into Israel’s international Ben Gurion Airport. It almost hit one of the terminals. Didn’t kill anybody. But it made a huge crater right on the periphery of the airport grounds. And for some reason it was not intercepted by Israel’s tripartite missile defense system. Let me add another incident. Just recently, almost at the same time, four more terrorists were arrested in the United Kingdom for organizing Iranian-inspired terror against citizens of Britain. And of course, we remember that Iran was involved in an effort to assassinate President Donald Trump.

What am I getting at is, we’re right in the middle of negotiations with Iran. Donald Trump feels that they are historically vulnerable. The Assad regime, their lifeline to the Arab world, is gone. Kaput. Vanished. They can’t use the Damascus airport to airlift weapons for Hezbollah. Hezbollah has been reduced dramatically in its effectiveness. Hamas is—I don’t know what you’d call Hamas. It’s living underground among the rubble of Gaza. And then, of course, the Houthis, as I mentioned, have been attacked. Israel has demonstrated that it can penetrate, at will, the supposedly formidable air defenses of Iran. The United States, in addition, is building up its strategic bombing force—in Diego Garcia and in areas that can reach Iran—with the capability of dropping these 20,000 to 30,000-pound bunker busters. We have two carriers that will soon be assembled near there.

What am I getting at again? The pressure is all on Iran. Militarily. Diplomatically. Economically. Socially. Culturally. What do I mean by that? Culturally, there is about 30% to 40% of the country are non-Farsi Persian speakers. And they’re very restive, angry. Power outages. The regime is unpopular. It’s diverted billions of dollars to these terrorist appendages that now didn’t pay off, that they’re defunct. And so, Donald Trump thinks that he, with this maximum pressure, putting this crushing oil embargo—which by the way, former President Joe Biden lifted—that he can bring them to negotiations one last time. Personally, I don’t think he can. Nothing that that regime has ever said is accurate. Nobody in the MAGA movement wants an optional war in the Middle East. But they will have nuclear weapons, perhaps in a year. So, what is the likely scenario? The likely scenario is they will lose face if they negotiate away their nuclear weapons.

That is the only lever they have over Western powers now that their terrorist children are all gone. So, I don’t think they’re gonna make a deal. They’re gonna delay, delay, delay; lie, lie, lie; use the Houthis. And they are playing with fire because once Donald Trump gives them an opportunity for a peaceful way out of their dilemma—that is they can negotiate an end to their nuclear program. They don’t need nuclear power. They have the fourth-largest fossil fuel reserves in the world. They have enough energy for themselves and for export for an endless amount of time. And yet they still are working on this nuclear project, not for peaceful energy generation, but to have a nuclear deterrent. And so, what we should look for in the next few months is that an exasperated Trump administration will finally throw up its hands and say, “You can’t deal with these people, but they’re not gonna get a nuclear weapon.”

At that point, one of two things will happen—I should say one of three things. Israel will hit back because of the Houthis’ attack on its airport. And that could come sooner or later. Or the United States will intervene. I don’t think it’ll intervene on its own. Or there’ll be a joint Israeli-American operation. But by the end of the year, I don’t think Iran will have a nuclear deterrent. And then we’re gonna be watching a mystery unfold. If it should be hit, and if it should lose its nuclear potential, what will be the reaction of the Iranian people? Will they be angry that their national sovereignty has been attacked? Or will they be delighted that this 50-year hated regime is now gone and they don’t have to spend money on these Arab terrorist groups that have brought them no profit? That’ll be something to see. And I think we’ll see it at the end of the year.

Read more …

“Decades after the civil rights movement, academia is obsessed with fixating not on intelligence, qualifications, or content of character, but rather on skin color..”

• $373M in DEI Funding at US Universities in Four Years (Salgado)

Educayshun has become mere propaganda at hundreds of American schools and universities. In fact, Defending Education has identified a staggering $373 million in DEI funding since 2016 across more than a hundred institutions of higher learning. Defending Ed investigated 130 colleges and universities across 44 states and Washington, D.C. to date, identifying 281 diversity, equity, and inclusion funds (DEI). These include scholarships and programs based around race and sexual “identity.” Defending Ed warned that, while many universities and colleges have now officially ended DEI programs under Trump administration pressure, in many cases, the programs have simply been renamed or gone underground for the time being. The University of Nebraska-Lincoln, for example, simply retitled its “Office of Diversity and Inclusion Fund” to be the “Community and Belonging Support Fund.”

Just add more pablum for a surface-level makeover. From the Defending Ed website: “To date, we have been able to track down over $373,344,424 in donations to fund institution DEI programs, scholarships, and offices. While some of the funding has been tracked down via “Day of Giving” style campaign webpages, the vast majority of the money has been traced through university announcements, webpages, and reports. The information contained in this report primarily covers the years from 2021 to present with one or two exceptions noted below. Decades after the civil rights movement, academia is obsessed with fixating not on intelligence, qualifications, or content of character, but rather on skin color.

This is a vast disservice to students of all ethnicities, and has turned our institutions of higher learning into little more than propaganda machines. Defending Ed also provided examples of some of the DEI projects and funds. The University of Michigan “raised over $98,665,269 for a wide range of DEI initiatives and funds, including scholarships for first-generation students” and established a “George Floyd Memorial Scholarship.” According to a 2023 University of Delaware report, the university was able to raise $21 million to expand its diversity, equity, and inclusion programming.

One of the funds included in the donor haul was it’s “Justice, Equity, Diversity and Inclusion, or JEDI, Fund” which states that support “helps provide programs, resources and opportunities to cultivate educated and empowered individuals who not only understand the origins of societal challenges related to equity and social justice but also have the tools to create solutions to address them.”… The University of California, Los Angeles (UCLA) School of the Arts and Architecture includes its “Anti-racism Equity, Diversity, and Inclusion” program which includes the UCLA Arts Racial Equity Fund. Meanwhile, the University of California, Berkeley fundraised $186,420 for “Increasing Diversity and Opportunity at Cal” during a 2025 campaign. These universities need to be exposed and their federal funding cut off so long as they continue to promote racist DEI.

Read more …

Altman doesn’t dare to go up against Musk? it’s not just them anymore. It’s people seeing endless profit vs people seeing endless trouble.

• OpenAI Blinks: Scraps For-Profit Plan After Outside Pressure (ZH)

In a blog post overnight, the OpenAI Board revealed that its nonprofit arm would retain control of the chatbot company following backlash over its attempt to restructure into a for-profit business. “We made the decision for the nonprofit to retain control of OpenAI after hearing from civic leaders and engaging in constructive dialogue with the offices of the Attorney General of Delaware and the Attorney General of California,” the OpenAI Board wrote in a blog post. Last fall, OpenAI’s Sam Altman was preparing to overhaul the company’s structure and transition to a for-profit business—an effort that sparked a heated legal battle with co-founder Elon Musk, who sought to keep OpenAI ‘open’. The board provided new details about OpenAI’s evolving structure:

OpenAI was founded as a nonprofit, and is today overseen and controlled by that nonprofit. Going forward, it will continue to be overseen and controlled by that nonprofit. Our for-profit LLC, which has been under the nonprofit since 2019, will transition to a Public Benefit Corporation (PBC)–a purpose-driven company structure that has to consider the interests of both shareholders and the mission. The nonprofit will control and also be a large shareholder of the PBC, giving the nonprofit better resources to support many benefits. Our mission remains the same, and the PBC will have the same mission.

“We want our nonprofit to be the largest and most effective nonprofit in history that will be focused on using AI to enable the highest-leverage outcomes for people,” Altman wrote in a letter to employees. He also provided details about OpenAI’s evolving structure: OpenAI’s nonprofit will remain in control of the organization after discussions with civic leaders and attorneys general from California and Delaware. The for-profit LLC will convert to a Public Benefit Corporation (PBC)—a mission-aligned model also used by other AI labs like Anthropic and X.ai.

This move replaces the old capped-profit structure with a simpler equity-based model, but does not represent a sale. The nonprofit will retain oversight and become a major shareholder in the PBC, giving it more resources to advance AI for broad societal benefit. A new nonprofit commission will help guide efforts to ensure AI supports public good in areas like health, education, science, and public services. OpenAI says this new structure will enable it to make faster and safer progress toward its mission of democratizing AGI. Meanwhile, Marc Toberoff, lead counsel for Elon Musk in the ongoing lawsuit against OpenAI, told Bloomberg via email that Altman’s decision to scale back for-profit plans “changes nothing.”

“OpenAI’s announcement is a transparent dodge that fails to address the core issues: charitable assets have been and still will be transferred for the benefit of private persons, including Altman, his investors and Microsoft,” Toberoff said. In March, US District Judge Yvonne Gonzalez Rogers blocked Musk’s request to stop Altman from restructuring OpenAI into a for-profit company. This led the judge to expedite a trial for this fall. Given “the public interest at stake and potential for harm if a conversion contrary to law occurred,” Rogers said, adding that an expedited trial later this year would be on “core” claim that OpenAI’s structure conversion plan is unlawful and “potentially the interrelated contract-based claims.” Earlier this year, a Musk-led group offered to purchase OpenAI for around $100 billion, a bid that was quickly rejected.

Read more …

“Now, at long last, we can see the fruit of the corrupt tree sprouting in our court system, where judges help illegal immigrants escape through the back door of the courtroom, where other judges demand the return of deported gang members or halt the deportation of antisemitic radicals, and where every effort to put America first is ruled unconstitutional..”

• (None Dare Call It) Treason of the Judiciary (Miele)

Thursday, April 24, was a day like any other day—the sun came up, the sun went down, and President Donald Trump was hit with at least three nationwide injunctions by federal district court judges. That’s just the way it goes if you are a president who wants to take back America from the entrenched left-wing bureaucracy and restore common sense to government before it is too late. The danger of the bureaucracy was predicted by Julien Benda in his 1927 book “The Treason of the Clerks,” which warned of the danger of the intellectual class adopting political passions that had previously been the sole domain of the masses. We see this most distinctly today in the federal bureaucracy, which I dare say has the greatest concentration of degree-holders from Harvard, Yale, Princeton, Columbia (and the like) of any sector in the nation, other than the incestuous universities themselves.

The treason that Benda described was the loss of independence of thought and dispassionate reason by intellectuals, and the accompanying subservience of intellect to political passions. During Trump’s first term, I wrote a column describing the danger that Benda had foreseen: Benda wrote at the beginning of the age of mass communication, and yet he already saw that “political passions have attained a universality never before known. … Thanks to the progress of communication and, still more, to the group spirit, it is clear that the holders of the same political hatred now form a compact impassioned mass, every individual of which feels himself in touch with the infinite number of others, whereas a century ago such people were comparatively out of touch with each other and hated in a ‘scattered’ way” …

It seems that we are now living out Benda’s worst nightmare—an age of manipulation of the masses by those who think they know better—whether you call them the “deep state,” the “opposition party,” “the national elite,” “the entrenched bureaucracy,” or just “the establishment.” And for the past 10 years, they have turned their hatred on Donald Trump. Without rhyme or reason, they fight him on every reform and arm themselves with invented scandal and fake news. Now, in Trump’s second term, we see that the bureaucracy has a close ally in the judiciary—not one judge, but multitudes that aim to preserve the status quo of liberal governance. If that wasn’t clear before April 24, there was no room for doubt after the day was filled with one court ruling after another telling Trump to “stand back and stand by” rather than to exercise his lawful power as president.

Here’s what tumbled out of the judicial branch that day: – A federal district court judge in California blocked Trump’s executive order that would have denied federal funds to so-called sanctuary cities that limit or forbid cooperation with federal immigration authorities. – A Washington, D.C., judge blocked the Trump administration from following through on the president’s executive order requiring that voters in federal elections show proof of citizenship when registering. – A district judge in New Hampshire blocked efforts to defund public schools that utilize diversity, equity, and inclusion initiatives. Not to be outdone, judges in Maryland and Washington, D.C., essentially issued the same order, giving added protection to one of the least popular programs ever shoved down the throat of American citizens. At the time, those were the latest of more than a dozen nationwide injunctions issued by unelected federal judges who appeared more interested in preserving and protecting left-wing shibboleths than the Constitution.

Also in courts across the nation that week were attempts by judges to reject Trump’s authority as commander in chief to ban transgender participation in the military, to deny Trump the right to strip security clearances from law firms that he says put national security interests second to political partisanship, and stop the administration’s efforts to eliminate federal news services such as Voice of America that engage in anti-American propaganda. Those are all in addition to the several injunctions issued relative to Trump’s promised reform of the immigration system to expedite deportation of illegal immigrants, especially those who have a criminal history or are members of international gangs. If that seems normal, it isn’t. There were only six nationwide injunctions during the eight years of the George W. Bush presidency, and only 12 during the Barack Obama presidency. That increased to 14 under President Joe Biden, which was surpassed by Trump in the first nine weeks of his second term when 15 such injunctions were issued.

Of course, Trump should be accustomed to such judicial abuse. In his first term, there were 64 injunctions against his policies, a staggering 92.2% issued by Democrat-appointed judges. Julien Benda would have clearly recognized the “political passions” that had supplanted the disinterested intellectual rigor we once expected of our judges. Yet because of our habituated respect for the separation of powers, none dare call it the treason of the judiciary. That of course is a reference to the 1960s tract “None Dare Call It Treason” by John A. Stormer. Stormer took on the country’s intellectual elites, blaming them for working against the interests of the nation by tolerating or quietly promoting communism. The left-wing elites of the day laughed it off as another right-wing conspiracy theory, but as time has passed it’s become clear that there was indeed a long-range effort to corrupt our institutions with Communism 101—reducing social acceptance of religion, turning education into indoctrination, and infiltrating government with the intelligentsia that thinks American values are outdated.

Now, at long last, we can see the fruit of the corrupt tree sprouting in our court system, where judges help illegal immigrants escape through the back door of the courtroom, where other judges demand the return of deported gang members or halt the deportation of antisemitic radicals, and where every effort to put America first is ruled unconstitutional. Fighting back against the overreach of the judiciary must be Trump’s No. 1 priority as he seeks to restore sanity to the federal government. Because the most important principle of constitutional law that is being decided in the next few months is whether the president is truly the chief executive or whether he serves at the pleasure of left-wing judges who put political passion ahead of national interests. In the ultimate irony, the case must be decided by nine men and women in black robes, the justices of the Supreme Court of the United States. The fate of the nation’s future hinges on whether they will seek justice impartially or be swayed by partisan rancor. Unfortunately, it’s an open question.

Read more …

“After Trump’s triumphant return to the White House, he appointed Pete Hegseth as secretary of defense. Since then, recruitment numbers have exploded, after years of the number of recruits tumbling..”

• SCOTUS Rules On Trump’s Ban On Transgenders In The Military (Downey Jr)

The Supreme Court issued a brief order on Tuesday allowing the Trump administration’s ban on transgender people in the military to proceed. Though the order was unsigned, the usual suspects, Justices Elena Kagan, Sonia Sotomayor, and Ketanji Brown Jackson, locked arms and said they would have denied the Trump administration’s request to pause the lower court’s order. Several years after the Biden administration chased warriors away from the military by mandating the COVID vaccine and also encouraging transgender people to join through DEI initiatives, the Supreme Court paused a decision by U.S. District Judge Benjamin Settle, located in Seattle, who suggested that Trump’s decision to ban transgender soldiers was unconstituional, claiming that it was “unsupported, dramatic and facially unfair.”

“A man’s assertion that he is a woman, and his requirement that others honor this falsehood, is not consistent with the humility and selflessness required of a service member,” Trump’s decree stated. The 9th U.S. Circuit Court of Appeals, located in San Francisco, refused to put a hold on Judge Settle’s decision. The ruling is sure to set off a dumpster fire of liberal whining, crying, and protests, not to mention another reason the left will complain that “Trump hates the LGBTFBI crew.” Shortly after taking back the White House, Trump issued a directive stating that people with a history or diagnosis of gender dysphoria would no longer be allowed to serve in any branch of the U.S. military. Under the Biden administration, many transgender people chose to join the military, some of whom opted for costly gender reassignment surgeries. Trump also released a directive stating that federal funds would no longer be spent on such surgeries.

Another important factor to keep in mind regarding Trump’s decision to keep out transgenders, the woke, and people hired and promoted through DEI initiatives is the very real notion that woke military members would be more likely to fight fellow Americans when told to do so, as some news media pundits are inclined to believe. It is unknown how long it will take to purge the military of transgender service members who pretend to be a gender other than that which science deemed them at birth. Left-leaning news sites, like Reuters, are reporting the story and suggesting that it is an attack against people who do not agree with the “gender they were assigned at birth.”

The decision is just the latest in a wave of Supreme Court victories for President Trump. The exact number of service members currently suffering from gender dysphoria is unknown, but some believe there are as many as 14,000 transgender people throughout all five branches of the military, though a senior-level member of the Defense Department suggested that there may be only 4,240 who are currently serving. After Trump’s triumphant return to the White House, he appointed Pete Hegseth as secretary of defense. Since then, recruitment numbers have exploded, after years of the number of recruits tumbling during Joe Biden’s single four-year presidential term.

Read more …

“..If the nomination is not successful by May 20th, there is a scenario where DC Judge James Boasberg could appoint the U.S. attorney. Mary McCord is smiling.”

• President Trump Sends Message of Support for Ed Martin as DC Attorney (CTH)

President Trump has sent a message of support via Truth Social on behalf of Ed Martin to be confirmed as U.S. Attorney for the important Washington DC office. Multiple ‘republican’ members of the Senate do not support the nomination. If the nomination is not successful by May 20th, there is a scenario where DC Judge James Boasberg could appoint the U.S. attorney. Mary McCord is smiling.

PRESIDENT TRUMP – “Ed Martin is going through the approval process to be U.S. Attorney in the District of Columbia. According to many but, in particular, Robert F. Kennedy, Jr., his approval is IMPERATIVE in terms of doing all that has to be done to SAVE LIVES and to, MAKE AMERICA HEALTHY AGAIN. This is a passion for Ed, more so than for almost anyone that I have seen. One of the reasons that I was so successful in winning the 2024 Presidential Election is my commitment to Health, and helping to Make America Healthy. The Cost of the Chronic Disease Epidemic has gotten out of control over the past four years of the Biden Presidency. We are going to take our Country BACK, and FAST. Ed Martin will be a big player in doing so and, I hope, that the Republican Senators will make a commitment to his approval, which is now before them. Ed is coming up on the deadline for Voting and, if approved, HE WILL NOT LET YOU DOWN. When some day in the future you look back at your Vote for Ed Martin, you will be very proud of what you have done for America and America’s Health. MAKE AMERICA GREAT AGAIN!”

The Republican opposition group to Ed Martin is the traditional element of the party who stand against the basic principles of what the MAGA movement is all about.

“Via CNN – […] Trump and his allies have a short window to get Martin over the finish line. If Republicans don’t confirm him by May 20 when his interim position expires, there would be a new process to play out in picking a new nominee. One option could be US District Judge James Boasberg appointing someone to become DC’s top prosecutor. Boasberg, a Barack Obama appointee, has presided over a number of high-profile cases challenging Trump policies, drawing the ire of the president and his allies. After this story published on Monday evening, Trump posted about Martin’s confirmation battle on Truth Social writing that his “approval is IMPERATIVE.” Top Justice Department officials, who had preferred another candidate for the job, have had to caution Martin about some of his public activities since taking on the job on an interim basis, sources briefed on the matter told CNN.

Despite growing blowback on the nomination, allies of Trump and Martin have made clear that the president has so far been thrilled with Martin’s job performance. “Martin is President Trump’s favorite US Attorney,” one source familiar with his nomination process previously told CNN. . On top of Trump’s direct calls to GOP senators, 23 Republican state attorneys general sent a letter to Senate Judiciary Chair Chuck Grassley and Senate Majority Leader John Thune on Monday urging them to move forward on Martin’s confirmation, according to a copy shared with CNN. Trump ally Charlie Kirk also posted on X over the weekend about the need to successfully confirm Martin. DOJ officials who may have wanted someone else for the job have come to terms with the fact that he is Trump’s pick and are doing everything they can to help get him confirmed, sources briefed on the matter told CNN.

Martin has successfully implemented Trump’s “law and order agenda” and been a “fantastic U.S. Attorney for D.C.,” said Alex Pfeiffer, White House principal deputy communications director. “The White House looks forward to his continued success in the role. Ed has shown he is the right man for the job.” Republicans on the Senate Judiciary Committee are expected to keep Trump’s nominee on track, despite diminishing odds Martin will advance to see a full Senate vote.”

Let us not pretend amongst ourselves…. In basic truth, both the democrats and republicans lost in the 2024 election. Donald Trump defeated the republican candidate, Ron DeSantis, and Donald Trump defeated the democrat candidate, Kamala Harris. As the second term of President Trump continues, the republican party will show increasingly obvious opposition to all of the policies and results coming from the MAGA agenda. In the background of our political dynamic the Republican apparatus is already having conversations about what comes next, after the MAGA infection identified as President Trump is removed. When we ask ourselves why President Trump’s agenda hasn’t been codified by congressional action, the honest answer is, because the MAGA policy is not supported by the Republicans in congress. Nothing about this dynamic is likely to change. The republican resistance is simply wearing a mask right now, and there are certain times when that mask slips. It has always been thus….

Read more …

Boasberg rules!

• This One Judge Keeps Getting Trump Cases, and It’s No Accident (Matt Margolis)

In a development that should send chills down the spine of every American who cares about the rule of law, Judge James Boasberg — you remember this guy, right? — has somehow ended up with case after case involving President Donald Trump’s second term. The D.C. swamp’s judicial machine continues its relentless assault on our duly elected president, with Boasberg emerging as its not-so-secret weapon. The so-called “random” assignment system has produced results that defy probability and reek of deliberate manipulation. The good news is that House Republicans are fighting back. Reps. Jim Jordan (R-Ohio), Darrell Issa (R-Calif), and Chip Roy (R-Texas) are demanding answers from Angela Caesar, the court clerk who oversees this suspicious case assignment system.

In a letter that Townhall obtained on Monday, they are demanding explanations for what any rational observer would recognize as a coordinated effort to undermine the Trump presidency. “Many of these nationwide injunctions have raised concerns that Article III judges are exceeding their constitutional authority by replacing the policy decisions of the duly elected President with their own preferences, eroding public trust in the integrity and fairness of our judicial system. Many high-profile cases challenging policy decisions of the Trump Administration have been filed in the U.S. District Court for the District of Columbia (District Court),” the letter states. “As Congress considers potential legislative reforms to address the abuse of nationwide injunctions and adjust the national distribution and local assignment of cases challenging Executive Branch policy decisions, we write to request information about the District Court’s assignment of cases.”

Boasberg has been handed several significant cases within a remarkably short timeframe relating to the Trump administration. His docket now includes cases challenging the administration’s implementation of the Alien Enemies Act for deportations, as well as matters concerning administration officials’ use of the Signal app, both assigned less than two weeks apart. But that’s not all. The judge is also overseeing cases involving the Department of Government Efficiency and disputes over federal funding for programs allegedly violating civil rights laws (though the latter was dismissed at the plaintiff’s request). While the D.C. District Court’s local rules govern case assignments, the concentration of such politically sensitive matters under one judge has sparked legitimate questions about the process. The timing and clustering of these assignments demand closer scrutiny.

Last month, the House passed critical legislation aimed at restraining these activist judges who have abandoned their constitutional role in favor of political warfare. But is it too little, too late? The Left’s judicial assault continues unabated while the mainstream media yawns or actively cheers it on. The American people deserve to know: Who is pulling the strings behind these courthouse doors? How deep does this corruption go? Furthermore, will anyone be held responsible for the misuse of our judicial system against the President of the United States?

Read more …

“America First Legal, led by Trump’s powerhouse advisor Stephen Miller..”

• America First Legal sues Supreme Court Chief Justice John Roberts (JTN)

The President Donald Trump-aligned legal group America First Legal Foundation on Monday sued Chief Justice of the United States John Roberts, accusing him of acting beyond his scope as head of the U.S. Judicial Conference. The lawsuit was also lodged against Robert Conrad, who serves as the director of the Administrative Office of the U.S. Courts, according to Fox News. The legal action accuses the men of operating beyond their scope of resolving cases or controversies, citing their cooperation with Congress in helping them investigate Supreme Court Justices Clarence Thomas and Samuel Alito, and a willingness to create or adopt a code of ethics for the court.

“Under our constitutional tradition, accommodations with Congress are the province of the executive branch,” the foundation said. “The Judicial Conference and the Administrative Office are therefore executive agencies,” which would be overseen by the president and not the courts. U.S. District Judge Trevor McFadden will preside over the case.

Read more …

Complex. Given their history and their nuclear status, they should never be allowed to come even this far. Call Xi.

“By Air Marshal Anil Chopra (Retired), an Indian Air Force veteran fighter test pilot and is the former Director-General of the Center for Air Power Studies in New Delhi.”

• The Treaty That Kept India And Pakistan In Check Is Gone. Now What? (Chopra)

India launched ‘Operation Sindoor’ on the night of May 7, targeting terrorist infrastructure in Pakistan in retaliation for a deadly terrorist attack in Pahalgram, Kashmir last month. New Delhi stated that it hit at least nine targets. “Our actions have been focused, measured, and non-escalatory in nature. No Pakistani military facilities have been targeted. India has demonstrated considerable restraint in the selection of targets and method of execution,” the Indian government said in a statement. Pakistan’s Prime Minister Shehbaz Sharif descried the strikes as a “cowardly” attack and said Islamabad “has every right to respond forcefully to this act of war imposed by India, and a forceful response is being given.” Tensions between India and Pakistan escalated to military actions following the killing of 26 innocent vacationers in Pahalgam, Kashmir by Pakistan-backed terrorists in a Hamas-style terror attack.

Pakistan Army and Inter Services Intelligence (ISI) links were established by India’s National Investigation Agency days after the mass killing. The public was angry, and sought appropriate revenge. A wide range of diplomatic and economic measures were announced by both nations following the attack. Remarkably, India has put the 1960 Indus Water Treaty (IWT) in abeyance for the first time since the pact was inked by the two neighbors. Rejecting India’s move to suspend the IWT, Pakistan warned that any diversion of water will be treated as an ‘Act of War.’ Islamabad also said that it would hold “in abeyance” its participation in all bilateral agreements with India, including the landmark 1972 Simla Agreement.

Pakistan pledged a full-spectrum national power response to any threat against its sovereignty, put its armed forces on high alert, and began selective mobilisation. Most measures were quite expected. But by suspending the Shimla Agreement, Pakistan unwittingly handed over big advantage to India. What is the Shimla Agreement? The Shimla agreement between India and Pakistan was signed on July 2, 1972 at Barnes Court (Raj Bhavan) in the town of Shimla in the Indian state of Himachal Pradesh, between then-Indian Prime Minister Indira Gandhi and her Pakistani counterpart Zulfikar Ali Bhutto. It was ratified on July 15, 1972 (by Pakistan), and August 3, 1972 (by India), and became effective the next day. The agreement had come in the wake of Pakistan’s comprehensive defeat in the 1971 war that split the country and created independent Bangladesh.

The agreement stated:“The Government of India and the Government of Pakistan are resolved that the two countries put an end to the conflict and confrontation that have hitherto marred their relations and work for the promotion of a friendly arid harmonious relationship and the establishment of durable peace in the sub-continent, so that both countries may henceforth devote their resources and energies to the pressing task of advancing the welfare of their peoples.” The document was meant to lay the foundation of a peaceful and stable relationship between the two nations. It was decided that the two countries are resolved “to settle their differences by peaceful means through bilateral negotiations or by any other peaceful means mutually agreed upon between them.”

The treaty mandated that the two countries resolve issues bilaterally, and superseded the United Nation’s resolution on Kashmir. Perhaps more importantly, under the agreement, India and Pakistan established the Line of Control (LoC), previously called the Ceasefire Line, making it a quasi-border between the two nations. New Delhi succeeded in persuading Islamabad to change the name of the ceasefire line to the Line of Control (LoC), thus delinking it from the UN-imposed 1949 ceasefire line and highlighting that Kashmir was now a purely bilateral matter between India and Pakistan. The treaty clearly stated that Indian and Pakistani forces must be withdrawn to their respective sides of the “international border.” That in Jammu and Kashmir, the LoC resulting from the cease-fire of December 17, 1971, shall be respected by both sides without prejudice toward the recognised position of either side.

Neither side shall seek to alter it unilaterally, irrespective of mutual differences and legal interpretations. India returned around 13,000 square kilometers of land taken in battle on the western border but retained some strategic areas, including Turtuk, Dhothang, Tyakshi, and Chalunka in Chorbat Valley, covering more than 883 square kilometers, so as to facilitate lasting peace. Both sides further agreed to refrain from the threat or the use of force in violation of the LoC. The fact that there has only been one limited war since the agreement was signed reflects its effectiveness. Some Indian bureaucrats later argued that a tacit agreement to convert this LoC into a international border, was reached during a one-on-one meeting between the two heads of government. Pakistani bureaucrats have denied any such thing. Nor was that acceptable to Indian public.

Read more …

 

 

 

 

Green
https://twitter.com/SteveLovesAmmo/status/1919731269673365609

Spike

OMG
https://twitter.com/buitengebieden/status/1919702279579455976

Elephant

Baby
https://twitter.com/Rainmaker1973/status/1919766603157406118

 

 

 

 

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

 

 

 

 

 

Debt Rattle April 29 2025

Apr 292025
 
 April 29, 2025  Posted by at 9:10 am Finance Tagged with: , , , , , , , , ,  41 Responses »


Piet Mondriaan Trees by the Gein at Moonrise 1908

 

• Stop the Digital Control Grid – Catherine Austin Fitts (USAW)
• David Sacks Warns DOGE Will All Be For Nothing, Unless… (ZH)
• Russians ‘Are Not Our Enemy’ – Trump Adviser David Sacks (RT)
• Ukraine Won’t Win – J.D. Vance (RT)
• Ukraine Eyes Teens And Women As Cannon Fodder (RT)
• Forget Land – This Is Russia’s Main Demand From The West (Lukyanov)
• Putin Announces 72-hour Victory Day Ceasefire (RT)
• Ukraine Issues Ceasefire Demand To Russia (RT)
• Ukraine Shows No Sign It Is Ready To Talk – Kremlin (RT)
• Canadians Should Expect Disaster With Carney In Charge (ZH)
• Federal District Courts Piling on Injunctions to Stop Trump (Turley)
• Now You Know (James Howard Kunstler)
• America Funded China’s Rise (Morrison)
• Liberals Loathe Arrival of ‘MAGA Media’ Inside the White House (DS)
• Make America Healthy Again Movement Extends Beyond RFK Jr (ET)
• A HUGE Win for the Make America Healthy Again Movement (Margolis)
• Robots Will Outperform Human Surgeons In Five Years – Musk (RT)

 

 

 

 

Don’t miss

Homan

Bessent
https://twitter.com/EricLDaugh/status/1916879751240630535

Zel

19

 

 

 

 

She lost me a few years ago when she was endlessly talking about HUD. But this is good.

Two video’s. She was on Tucker Carlson too.

“Stop with the control grid, and we can do this. . . . If we can face it, God can fix it all.”

• Stop the Digital Control Grid – Catherine Austin Fitts (USAW)

Catherine Austin Fitts (CAF), publisher of “The Solari Report,” is back to update us about the “Fast-Approaching Digital Control Grid.” (CAF) told us last time here on USAW, “There is no bigger ongoing battle for lovers of freedom than the battle taking place over the freedom killing idea of digital ID.” But it’s more that just ID, it’s an entire control grid that is being quietly built that is like a frog being put into pot and the water being brought to a boil. CAF explains, “You know our goal at Solari is each person has a free and inspired life. So, we have been working for several years to stop financial transaction control. If you get the ability to track each person and control their transactions, so if they don’t do what you say, they can turn off your money.

That is game over for the Constitution and for human liberty. If you look at how the control grid is coming together, there are many different pieces. There is digital ID, all digital currency or transaction system to a social credit system to the management to certain kinds of data and back-up energy. There are many different pieces. We look at the pieces, and we look at them as one-off things such as, oh, I don’t mind having a ‘Real ID’ because I can see why they might want a federal ID, or a passport or whatever. Each one of these things looks nonthreatening and even convenient, but when they snap together, they are in a control grid, and it’s completely something else. When Trump was elected, I was shocked to see, almost immediately, the President announce the Stargate AI initiative with the mRNA vaccines, which to me is the internet of bodies.”

CAF put together a long list of Trump Administration actions that are speeding up what looks like a control grid. It’s called “The Fast-Approaching Digital Control Grid.” It lists things such as crypto friendly currency actions, private Central Bank Digital Currency, shrinking banking sector, DOGE, undisclosed Epstein files and many more red flag items that could be used to allow crime to continue and build a digital prison for “We the People.” While the Trump Administration brings change at a record pace, not a single thing has been done to find out about the “$21 Trillion Missing Money” that has been well documented by CAF and Michigan State Professor Dr. Mark Skidmore. The money has been stolen from America, and the silence about this is deafening.

CAF says, “We know there has been tremendous fraud in the financials of the US government. We know that has happened. If you look at all the things that you or I would do to figure out what had happened, where the money went and how do we get it back, that’s not what they are doing. . . . If you look at how we would do a successful operation to reengineer government and identify the real fraud and stop it, I don’t see any indication that they are doing that. I do see some selected efforts that are probably sincere. . . . They are shutting things down lots of us would like to see shut down. . . . We know how to stop the death and disabilities that come from the Covid 19 vax injection, but you go the CDC website, and they are still recommending the Covid injections.”

The massive crime going on with government accounting makes it necessary for the control grid. CAF explains, “What happened in the last Trump Administration is they adopted FASAB 56. FASAB 56 basically said they could take the books of the US government dark. A secret group of people, by a secret process, could remove operations from the financial statement, and they don’t have to tell people what they removed. So, we have no idea what is in the financials. . . . This includes the big banks and contractors who do business with the government. So, looking at the US stock market and bond market, I have no idea what is true or not. . . . We are flying blind.”

CAF still likes gold for an investment. She is also very bullish on silver as it takes about 100 ounces of silver to buy a single ounce of gold. The gold/silver ratio is at record spreads. CAF says, “At some point, the gold/silver ratio will revert to something more sensible.” In closing, CAF says, “Everyone tell your Senator and Congressman and President Trump on X or Truth Social stop the control grid. Stop with the control grid, and we can do this. . . . If we can face it, God can fix it all.”

Tucker CAF

Read more …

Time for Congress to step up.

• David Sacks Warns DOGE Will All Be For Nothing, Unless… (ZH)

AI & Crypto Czar David Sacks warns that Elon Musk’s efforts to expose waste and abuse at the Department of Government Efficiency (DOGE) may be futile unless Congress significantly reduces federal spending. “What we really need is for Congress to now embrace all of the corruption that Elon has found and eliminate it from the budget, because at the end of the day, in order to capture the savings here, we do need those appropriations eliminated from the budget,” Sacks said on the All-In podcast. Sacks warned that the real danger isn’t Musk backing down, but Congress slipping back into its entrenched pattern of reckless spending. “These old bulls in Congress who control the appropriations process—are they going to basically backslide and just put the spending back in because it’s easier to engage in this logrolling, or do we take advantage of this?” he asked.

Sacks emphasized the immense personal cost Musk has borne to reveal systemic corruption, citing the widespread protests targeting Tesla properties. “This has cost him enormously. One of the reasons why Tesla is down is because you’ve had crazy leftists engaging in terrorism, firebombing Tesla dealerships,” the Trump official said. “We’ve basically learned that this whole NGO thing is a giant scam where the people in government give enormous amounts of money to their friends, probably with the expectation that when they leave government, they’re going to be next in line at the trough.” Since Musk took the helm at DOGE, Tesla has been under siege from a wave of protests and brazen acts of vandalism across the U.S. and beyond, with far-left activists resorting to arson, gunfire, and defacing dealerships, vehicles, and charging stations with hateful graffiti.

The so-called “Tesla Takedown” movement has orchestrated demonstrations at hundreds of Tesla locations, pushing an anti-DOGE agenda to tank Musk’s company by calling for mass sell-offs of Tesla stock and boycotts of the brand. Sacks then stressed that while Musk has laid bare the government’s dysfunction, without decisive action from Congress to slash spending, his efforts risk being squandered. “Elon’s done an enormous service exposing this. But it’s not entirely up to him. In order for us to realize the benefit, we need Congress now to act on that. I’m afraid that’s not going to happen,” he warned.

In March, President Donald Trump threw his support behind a rescission package to implement major spending cuts spearheaded by DOGE. “It would be great. I think we’re going to do that,” Trump told reporters. According to a memo from the Office of Management and Budget (OMB) obtained by the New York Post, the administration is pushing two proposals to slash $9.3 billion. “The first includes a rescission of $8.3 billion in wasteful foreign aid spending (out of $22 billion) that does not expire in Fiscal Year (FY) 2025. The second is a separate rescission of all Federal funding for the Corporation for Public Broadcasting (CPB) — which funds the politically biased public radio and public television system,” the Post said.

Read more …

“Russians are not our enemy. We shouldn’t be helping to kill them..”

• Russians ‘Are Not Our Enemy’ – Trump Adviser David Sacks (RT)

The White House crypto csar has rejected the notion that Ukraine is aiding the United States against its enemies by fighting Russia. Kiev has consistently asserted that it is “defending” Western nations from Russia. Vladimir Zelensky reiterated the point in a recent interview with conservative journalist Ben Shapiro, where he urged the US to act as an arms supplier rather than a diplomatic mediator and stating that Ukrainians “are fighting against your enemies, the Russians.” “Russians are not our enemy. We shouldn’t be helping to kill them,” countered David Sacks, a venture entrepreneur and White House advisor on crypto and artificial intelligence, who responded on social media on Sunday to a clip from the interview.

Sacks has long criticized US support for Kiev, characterizing it as an attempt to transform the Ukraine conflict into a “forever war.” Zelensky has argued that modern Russia shares the same agenda as the former USSR and considers the US its “main enemy.” He accused Moscow of collaborating with Tehran and Pyongyang to undermine American interests. Conversely, he stated that Kiev views the US as a “strategic partner” and “friend.” However, he cautioned that any attempts to pressure Ukrainians could “turn them around very quickly.”

US President Donald Trump has claimed that Zelensky has undermined his efforts to negotiate a peace deal between Kiev and Moscow by publicly dismissing his proposals. In their latest meeting, held on the sidelines of Pope Francis’ funeral last Saturday, the Ukrainian leader requested more weapons, the US president told the media, adding that “he has been saying that for three years.” Russian Foreign Minister Sergey Lavrov told CBS last week that Moscow is interested in a relationship with the US which is based on “an equal, mutually respectful dialogue heading to finding a balance of interest.” With that approach, “everything is possible,” he added.

Read more …

“You could have millions of more people killed if this thing goes on for another few years, and it could risk escalating into a nuclear war. It has to stop…”

• Ukraine Won’t Win – J.D. Vance (RT)

Ukraine is not poised to win the conflict with Russia, US Vice President J.D. Vance has said. He added that it was naive to expect Russia’s collapse if the fighting continues for several more years. “If this doesn’t stop, the Ukrainians aren’t winning the war,” Vance said during an interview on conservative organizer Charlie Kirk’s podcast on Monday. “I think there’s this weird idea among the mainstream media that if this thing goes on for just another few years, the Russians will collapse, the Ukrainians will take their territory back, and everything will go back to the way that it was before the war. That is not the reality that we live in,” the vice president said.

“You could have millions of more people killed if this thing goes on for another few years, and it could risk escalating into a nuclear war. It has to stop,” Vance added. He also said that, despite the challenges of dealing with both sides, American negotiators were “making progress.” “Sometimes you’re incredibly frustrated with Ukrainians. Sometimes you’re incredibly frustrated with the Russians,” Vance said. “And sometimes you just want to throw your hands up, but that’s what President Trump doesn’t let us do.”

Vance’s remarks came as Russian President Vladimir Putin announced that Russian troops would observe a three-day ceasefire starting on May 8, marking the celebrations of victory in World War II. Ukrainian leader Vladimir Zelensky responded by accusing Moscow of “manipulation” and called for an immediate 30-day ceasefire. According to Russia, Ukraine violated both the 30-day ‘energy truce’ brokered by the US last month and the 30-hour Easter truce, despite having promised to respect both arrangements. Putin has argued that, for a comprehensive ceasefire to succeed, Ukraine must halt its mobilization campaign and the West must stop delivering weapons to Kiev.

Read more …

This is what it’s come to. This is what we support. Since at least 2014. Trump can say it’s Obama/Biden’s war, but he’s not exactly fully innocent. Repair it now.

• Ukraine Eyes Teens And Women As Cannon Fodder (RT)

As Ukraine’s manpower crisis deepens, Kiev is resorting to increasingly desperate measures to fill the thinning ranks of its army. With conscription drives failing and volunteer numbers dwindling, authorities are now preparing to force ever-broader sections of the population – including women and barely adult men – into the front lines. Despite brutal mobilization efforts, Ukraine’s Armed Forces (AFU) remain critically understaffed. Even aggressive recruitment campaigns and tightening draft laws have failed to produce the needed surge in enlistments. Now the government is moving toward slashing the minimum conscription age from 25 to just 18 – sending teenagers straight into a bloody and grinding conflict. At the same time, serious discussions are underway about mobilizing women en masse, a step that would mark a historic escalation in Kiev’s attempts to prolong the war.

Interest in military service is declining sharply, especially among the youth. In mid-April, Pavel Palisa, deputy head of Vladimir Zelensky’s office, revealed that fewer than 500 volunteers between the ages of 18 and 24 had enlisted – and currently, those under 25 are not subject to mandatory mobilization. Two months earlier, Ukraine had launched a new initiative offering 18 to 24-year-olds the option of contract service. Rolled out on February 11, this program offered recruits a contract bonus of one million hryvnias (around $24,000), monthly salaries up to 120,000 hryvnias, and other perks in a desperate bid to bolster AFU numbers. Since then, other military branches – including the navy, airborne forces, National Guard, and border troops – have opened their ranks to young contractors. Yet even with financial incentives on the table, recruitment remains sluggish.

Palisa admitted that the current conscription system is outdated and hinders mobilization efforts. He stressed that Ukraine has “a huge mobilization resource” but that the system in place prevents it from being effectively tapped. “In my opinion, we have more people available than we need for specific tasks at the front. The mechanism simply isn’t efficient,” he said, calling for sweeping reforms in recruitment and organization. However, as Vladimir Zharikhin, deputy director of the Institute of CIS Countries, pointed out in a conversation with RT, such optimistic estimates are little more than wishful thinking. In reality, Ukraine’s main mobilization base has long since fled the country. Official figures show over six million Ukrainian refugees registered across the European Union and more than two million in Russia. But according to Zharikhin, the true numbers are likely even higher.

“Roughly eight million have gone to Europe, about three million to Russia – that’s close to a quarter of Ukraine’s prewar population,” he explained. “In other words, Kiev isn’t drafting from the 50-plus million people who lived in Ukraine around the time of the Soviet collapse. It’s choosing from the 20-odd million who remain today. That’s why we’re seeing serious discussions about mobilizing yesterday’s schoolboys, women, and anyone else they can find.” Speaking about the dismal turnout among 18 to 25-year-olds, Palisa said that while many initially expressed interest, very few ultimately signed contracts. “People agreed in principle, but when it came to signing, they backed out,” he said. “Sometimes it was their parents’ influence; sometimes they believed peace was just around the corner. There are a lot of reasons.”

Former Ukrainian MP Vladimir Oleinik told RT that aggressive recruitment campaigns painted an overly rosy picture, falsely suggesting that enlistees would quickly become millionaires. Reality, however, tells a different story. Recruits receive 200,000 hryvnias, upfront, another 300,000 after completing training, and the remaining 500,000 only after their contracts end. “Parents would often take their sons to cemeteries, showing them the flags on soldiers’ graves,” Oleinik said. “Under these contracts, recruits must serve at least six months on the front lines – and everyone knows what the survival rate is.”

Nuland

Read more …

Military security. Leave us alone.

• Forget Land – This Is Russia’s Main Demand From The West (Lukyanov)

Everyone is expecting news on a Ukrainian settlement this week. The diplomatic activity is real and intense, and the visible signs suggest something significant is underway. There is little point in trying to guess which of the leaked plans are genuine and which are misinformation. What is clear is that Russia is being offered a choice between “a bird in the hand and two in the bush.” The trouble is, the elements necessary for any sustainable agreement are still scattered among the various birds. Currently, discussions naturally revolve around territory. This is a sensitive subject, particularly since the territories under consideration are already under Russian control. The bird’s wings are clipped, however: legal recognition of Russia’s sovereignty over these lands seems unrealistic, at least in the near term. De facto recognition, with a pledge not to attempt to return them by force, could be the achievable result. In today’s global atmosphere, it is naive to view any legal agreement as genuinely final.

Yet territory was not the true cause of this conflict. The deeper issue was decades of unresolved security contradictions. ‘Demilitarization’ – so prominently featured in Russia’s original demands – encompasses both Ukraine’s neutral status and the broader limitation of its military capabilities, whether through curtailing domestic production, cutting off external supplies, or reducing existing forces. This demand is far from cosmetic. Fulfillment would overturn the international order that has reigned since the end of the Cold War – an order based on NATO’s unchecked expansion across Europe and Eurasia, without regard for Moscow’s objections. The military campaign thus became a way of exercising a “veto” that the West had long denied Russia. True demilitarization of Ukraine would, in effect, force international recognition of that veto. But many in the West remain unwilling to accept such a precedent.

As discussions have moved toward territorial issues, the central problem of military security seems to have been relegated to the background. Perhaps US President DonaldTrump’s administration – more skeptical of NATO itself – views it as less fundamental. Or perhaps it simply finds it easier to force Ukraine to cede territory than to make Western Europe recognize Russia’s security rights. Nevertheless, for Moscow, military security remains a matter of principle. Even if Washington offers major concessions – lifting sanctions, formalizing territorial changes – Russia cannot abandon this core demand. This creates a divergence in diplomatic tempo. Washington wants a quick deal; the Kremlin believes that haste will not produce a reliable settlement. Yet Moscow also knows that the political stars – especially in Washington – have aligned in a uniquely favorable way, and it does not want to miss the moment.

The outcome will be known soon enough. However, some important lessons from history should be remembered. First, achieving political goals often takes more than one campaign. A pause in fighting is not necessarily a resolution.Second, there is no such thing as an open-ended, unchangeable agreement. If a deal does not truly satisfy all parties, it will eventually collapse. The struggle will resume – though not necessarily through military means.Third, Ukraine is only one piece of a much larger process of global transformation in which Russia intends to play a central role. These changes are already underway, and will continue to deepen. Reaching some degree of understanding with the United States is important. Interestingly, the NATO issue might resolve itself over time, not because of Russian pressure but due to the alliance’s own growing irrelevance. But for now, that remains a matter for the future. In the immediate term, Russia faces a choice between the imperfect birds on offer – and must weigh carefully which to catch and which to let fly.

Read more …

Maybe the West should recognize what Victory Day means to Russia. Instead of erasing 26 million dead from history.

• Putin Announces 72-hour Victory Day Ceasefire (RT)

Russian President Vladimir Putin has declared a ceasefire in the Ukraine conflict for three days in honor of the 80th anniversary of the defeat of Nazi Germany in World War II. The truce will last from May 8 to May 10th, the Kremlin has said. Putin is said to have announced the ceasefire based on “humanitarian considerations” and has ordered the suspension of all military action against Ukraine’s forces from midnight on May 7-8 to midnight on May 10-11. The Kremlin noted that Moscow expects the Ukrainian side to abide by the truce and warned that if Kiev’s forces violate it, the Russian military will give an “adequate and effective response.” “The Russian side once again declares its readiness for peace talks without preconditions, aimed at eliminating the root causes of the Ukrainian crisis, and for constructive interaction with international partners,” the Kremlin’s message concluded.

Putin previously declared a truce for Easter that started at 6pm on April 19 and lasted throughout April 20. The Russian Defense Ministry later said that while the Ukrainian side had violated the ceasefire several thousand times, the general level of military activity had significantly decreased across the front line. During a meeting with US special envoy Steve Witkoff last week, the Russian president also reaffirmed that Moscow is ready to hold unconditional peace talks with Kiev. Meanwhile, US President Donald Trump has reportedly promised not to walk away from the Ukraine peace process. He had previously warned that Washington could abandon its efforts to mediate if it did not see progress in negotiations.

Read more …

The western press claims Russia violated its own last ceasefire. The Russian press does not. “Oh, that’s just propaganda!” Really? Which one?

• Ukraine Issues Ceasefire Demand To Russia (RT)

Ukraine has criticized Russia’s announcement of a three-day ceasefire in May timed to coincide with the celebration of the 80th anniversary of victory over Nazism. Earlier on Monday, Russian President Vladimir Putin announced a 72-hour ceasefire which will last from midnight on May 7-8 to midnight on May 10-11. It follows a similar unilateral pause during the Easter weekend. “If Russia truly wants peace, it must cease fire immediately,” Ukrainian Foreign Minister Andrey Sibiga responded on X. He claimed that the Russian move was not “real” but rather “just for a parade.” “Ukraine is ready to support a lasting, durable, and full ceasefire. And this is what we are constantly proposing, for at least 30 days,” he added. The Russian military previously observed a 30-day moratorium on strikes against Ukrainian energy infrastructure, which US President Donald Trump had proposed to Putin. According to Moscow, Kiev did not reciprocate despite publicly claiming support for the initiative.

The Easter ceasefire announced by Moscow was only partially successful, according to the Russian Defense Ministry, which said there was a decrease in the intensity of Ukrainian attacks but not a full lull. When Putin ordered the measure, he instructed Russian forces only to engage Ukrainian troops in retaliation. Ukraine’s Vladimir Zelensky has claimed that Russia’s failure to meet his demand for an unconditional 30-day truce proves that it does not want peace. Putin has pointed out that Kiev could use such a pause for rearmament and reinforcement rather than to engage in serious negotiations. Earlier on Monday, Kremlin spokesman Dmitry Peskov noted that direct talks between Moscow and Kiev currently remain impossible due to a legal ban on such engagements issued by Zelensky in 2022.

Read more …

By their law, Zelensky still can’t talk to Putin.

• Ukraine Shows No Sign It Is Ready To Talk – Kremlin (RT)

Ukraine is failing to take the necessary steps to initiate direct negotiations with Russia, while Moscow remains ready to engage at any time, Kremlin spokesman Dmitry Peskov has said. Vladimir Zelensky prohibited direct bilateral talks in October 2022 for as long as Russian President Vladimir Putin remains in office, asserting that the moratorium was necessary to “stop separatism” purportedly stemming from backchannel communications with Moscow not controlled by his administration. ”At the very least, Kiev needs to act, given its judicial ban” on talks, Peskov reminded journalists during a briefing on Monday.

Putin has repeatedly stated that Russia is prepared to commence negotiations with Ukraine “without any preconditions, aiming to pave the way for peace,” the official added. Indirect contacts between Kiev and Moscow have continued on some issues, such as prisoner exchanges and the repatriation of fallen soldiers. US President Donald Trump has criticized Zelensky for undermining his mediation efforts by publicly opposing ideas, reportedly included in a Washington-proposed peace plan. The two leaders had a face-to-face meeting on the sidelines of Pope Francis’ funeral in the Vatican on Saturday.

“He told me that he needs more weapons, but he has been saying that for three years,” Trump said, recounting the engagement. “I want them to stop shooting, sit down and sign a deal.” While Moscow has questioned Zelensky’s legitimacy since the conclusion of his presidential term last year, it does not view his removal from power as a goal in the conflict. However, Russia has concerns that “if an agreement were signed with Zelensky today, people could come forward later in Ukraine and legally challenge,” Peskov told the French media last week. Zelensky claims presidential powers, citing martial law that he first imposed in 2022.

Read more …

Mere weeks ago, the liberals polled just 10-20%. Then Canadian politics and media hit on Trump. Carney is a WEF globalist., worse than Trudy.

• Canadians Should Expect Disaster With Carney In Charge (ZH)

Justin Trudeau’s far-left regime in Canada has finally come to an end as the politician exits leadership in disgrace. His legacy includes authoritarian governance during the pandemic, whereby he threw Christian church goers and pastors in prison for refusing to stop congregations. He called for mass forced vaccinations, and he locked the bank accounts of protesters speaking out against the covid mandates. His admin compared people donating to the cause to “terrorists”. His socialist economic policies helped to exacerbate Canada’s inflation crisis and his open immigration policies greatly expanded the the flood of third-world foreigners, driving up housing prices, crushing the labor market and straining social services. By most accounts, the majority of Canadians were ecstatic to see Trudeau exit the stage. But what if they still haven’t learned their lesson? How is that even possible?

According to recent polls for the 2025 election set for April 28th, it is likely that Canadians have very short memories or they’re gluttons for punishment. Why? Because Mark Carney and the Liberal Party are projected to make considerable gains. Carney has rebranded himself as a “centrist” in order to win public favor, but nothing could be further from the truth. Mark Carney is, in fact, worse than Trudeau on every level. What should Canadians expect under a Carney regime? More mass immigration, not less. Higher inflation and a suffocating housing market. Increasing political and economic tensions with the US, which Canada is dependent on for 75% of its export market (and there is no replacement). Policies pressuring Canadians into a cashless system. The detrimental institution of carbon controls and climate change rules for industry and energy. And, even less national sovereignty as Canada is made more beholden to the EU.

Lets start with immigration… While Carney claims he wants caps on immigration, his advisor choices suggest Canadians will get more of the same. The central banker has tapped Mark Wiseman, co-founder of the Century Initiative lobby group as part of his policy council. The Century Initiative under the former BlackRock executive publicly endorsed the Trudeau government’s moves to take in 500,000 new immigrants per year by 2025. It should be noted that as Canada increased immigration their economy suffered exponential decline. Between 2015 and 2024, Canada’s ranking in the Human Development Index plummeted from 9th to 18th, while the country fell behind Italy in the average growth of real GDP per capita. Canada’s housing market and social services are essentially broken. And how about individual freedom?

It’s no secret that the Liberal Party widely supported the lockdowns and mandatory vaccinations. However, where did Carney stand on the issue? Carney acted as an “informal adviser” to Trudeau throughout the covid event and supported the mandates wholeheartedly. In an opinion article for The Globe And Mail titled ‘It’s Time To End The Sedition In Ottawa By Enforcing The Law And Following The Money’, Carney wrote in reference to the Trucker Protests against the mandates: “No one should have any doubt…This is sedition. That’s a word I never thought I’d use in Canada. It means incitement of resistance to or insurrection against lawful authority.” “The constant blaring of horns at all hours, the harassment of people, the culture of fear have been making residents’ lives hell, will bankrupt our businesses and if left unchecked would help achieve the Convoy’s goal of undermining our democracy…Anyone sending money to the Convoy should be in no doubt: you are funding sedition. Foreign funders of an insurrection interfered in our domestic affairs.”

These are the words of an authoritarian, using “democracy” as a cover to institute a sweeping crackdown on public freedoms. Where does Carney stand on the economy? Mark Carney is a long time Davo elitist, and as such he is an adherent of Klaus Schwab’s “4th Industrial Revolution” theory and the concept of the “Great Reset”. Specifically, Carney is an avid champion of the WEF’s climate change agenda and their efforts to make “climate consciousness” inseparable from business culture. Meaning, Carney will undoubtedly bury Canada in climate controls and carbon taxes, snuffing out their industry and energy base just as the globalists have been doing in Europe. Furthermore, Carney is deeply involved in the push for national and global Central Bank Digital Currencies (CBDCs).

In his 2021 book ‘Values”, Carney calls for revolutionary centralization of the global monetary system and the launch of CBDCs as the new standard. He has actively campaigned against cryptocurrencies like Bitcoin and any form of decentralized money, claiming instead that the future requires a global digital currency to replace the dollar system (NOTE: Carney did not come up with this idea, this has been a ongoing plan within the BIS and IMF for decades). “If properly designed, a CBDC could serve all the functions to which private cryptocurrencies and stablecoins aspire while addressing the fundamental legal and governance issues that will, in time, undermine those alternatives…” At bottom, Carney is calling for a cashless society controlled by the banking oligarchy. Without cash or an independent form of trade, all personal economic freedom dies. Carney licks his chops over this prospect when he states (in reference to the covid crisis):

“With fear on the march, people were willing to surrender to Hobbes’ ‘Leviathan’ such basic rights as the freedom to leave their homes. And so it is with money. People will support the delegation to independent central banks of the tough decisions that are necessary to maintain the value of money provided the authorities deliver monetary and financial stability…” This is not the man Canadians should be voting for if they have any interest in changing the current Orwellian path their country is on. Critics claim that it’s Donald Trump’s tariffs that are to blame for the shift in the polls in Carney’s favor. Yet, if Carney is elected he would be the most disastrous choice in negotiating a settlement with the US. The situation will only become more ugly for Canada in every way. This is not a “new boss, same as the old boss” scenario. Carney is far higher up on the totem pole of degradation than Trudeau and much more devious.

Read more …

Turley no longer states that the system is working so great.

• Federal District Courts Piling on Injunctions to Stop Trump (Turley)

“Here we are again.” Those words of Senior U.S. District Judge William H. Orrick may be the only uncontested line in his opinion this week, enjoining the Trump Administration from withholding federal funds to “sanctuary jurisdictions.” In President Trump’s first term, efforts to implement sweeping changes on immigration and other issues were met by a slew of injunctions. In 2017, one of those orders was from Judge Orrick, an Obama appointee in San Francisco. Trump has already faced a record number of national injunctions by district courts. His administration has objected to forum- and judge-shopping by political opponents by bringing the majority of such challenges in overwhelmingly Democratic states like California. Such injunctions did not exist at the founding, and only relatively recently became the rage among district court judges.

Under President George W. Bush, there were only six such injunctions, which increased to 12 under Obama. Both Democratic and Republican presidents have complained about district judges tying down presidents like so many judicial Lilliputians. However, when Trump came to office, the taste for national injunctions became a full-fledged addiction. Trump faced 64 such orders in his first term. When Biden and the Democrats returned to office, it fell back to 14. That was not due to more modest measures. Biden did precisely what Trump did in seeking to negate virtually all of his predecessors’ orders and then seek sweeping new legal reforms. He was repeatedly found to have violated the Constitution, but there was no torrent of preliminary injunctions at the start of his term. Now, however, with less than 100 days in office, Trump 2.0 has already surpassed that number for the entirety of Biden’s term.

The Supreme Court bears some of the blame for this. Although a majority of justices, including liberal Justice Elena Kagan, have complained about district courts’ issuance of national injunctions, the high court has done little to rein in district court judges. On May 15, the justices are poised to consider the issue in a case involving birthright citizenship. Many hope that the justices will bring what they have consistently failed to supply to lower courts: clarity and finality. Some judges have already seen their stays lifted by appellate courts. However, in just one day this week, three more major injunctions were issued on sanctuary cities, voter registration, and deportations. Some of these orders appear premature and overbroad. Take Judge Orrick’s order. Again, Trump is targeting cities offering sanctuary to unlawful immigrants as imposing high costs on the country, including increasing burdens for federal programs and grants to these cities.

Orrick previously stopped that effort in the first Trump term, and he was affirmed by the United States Court of Appeals for the Ninth Circuit. However, the orders are not identical, and so far no action has been taken against these cities. Under one of the orders, titled “Protecting the American People against Invasion,” Trump has ordered the attorney general and the secretary of Homeland Security to “evaluate and undertake any lawful actions to ensure that so-called “sanctuary” jurisdictions, which seek to interfere with the lawful exercise of Federal law enforcement operations, do not receive access to Federal funds.” Orrick noted that the term “sanctuary jurisdiction” was not defined and dismissed the express reservation that such actions can only proceed to the extent that they are allowed under law.

The irony is that the opinion itself is overly broad and imprecise. There are indeed cases limiting the ability of the federal government to “commandeer” states and cities into carrying out federal functions. However, there are also cases upholding the right to withhold federal funds that contravene federal laws and policies. The operative language in the order is the focus on sanctuary policies that “interfere” or prevent federal enforcement. There must be some accommodation for the federal government in refusing to pay for the rope that it will hang by.

Read more …

“Being mean or telling the truth is indistinguishable to far too many people.” —Mike Thompson on X

• Now You Know (James Howard Kunstler)

Woke liberalism is exactly what Christopher Lasch predicted in The Revolt of the Elites, published in 1995 the year after his early death at 61. Lasch saw how the juvenile idealism of Boomer hippiedom would slide into the narcissistic, sado-masochistic degeneracy of open borders, drag queen story hours, Covid-19 despotism, DEI racism, showbiz Satanism, censorship, forever wars, and now, the legal insurrection of lawfare. In doing so, Lasch also predicted the “mass formation psychosis” described by Belgian psychologist Mattias Desmet, spawned by a crisis of meaning and purpose in the thinking classes of Western Civ. And now you know exactly how come a place like Boston, with its concentration of “elites” in universities, computer tech, and medical research displays a batshit-crazy dedication to ideas bent on destroying our political culture: the American republic.

The word republic derives from the Latin, res publica: the public thing, the idea of a state dedicated to the common good. By “state” you can infer both a group of people in a certain place, but also the set of conditions they dwell in. You can’t have a common good without a common culture, which means a general agreement among citizens on values in that certain place — which is our country, the USA. You can’t overstate the importance of shared ideas and values in that enterprise of being a nation, we-the-people in our particular place. The juvenile idealism of Boomer hippiedom wrecked the crucial idea of a common culture, and I will tell you exactly how that happened. Two crusades: first, the civil rights campaign, and second, stopping the War in Vietnam, defined the era.

The first of these climaxed in twin landmark legislative acts designed to abolish Jim Crow racism: the Civil Rights Act of 1964, prohibiting discrimination in public places, and the Voting Rights Act of 1965, which prohibited unfair obstacles to voting. The idealism in that moment of history was extreme. The dominant old-school Liberal ethos displayed a sense of triumph. Its cardinal belief in human progress was validated in the new law-of-the-land. We were supposedly entering a utopia of racial harmony. It proved to be a huge disappointment, a failure. In some fundamental ways, black and white America could not agree on certain values, especially language and behavior. These matters were so hypersensitive that discussing them became taboo, and when someone dared to — such as the rogue journalist Tom Wolfe in his book Radical Chic, which made fun of the cultural elites trying to socialize with the Black Panthers — he was buried in the most extreme censorious opprobrium by the elite good-thinkers of politics, academia, and the cultural media. They couldn’t believe old Tom dove clear through the Overton Window the way he did, head first.

In fact, a big segment of black America after 1965 became much more overtly separatist and oppositional, while white America became more frantically confounded and depressed by it. The result was the elite’s solution to that quandary: multiculturalism! Which basically meant: we don’t need a common culture in the USA. (We don’t need an agreement about values, language, and behavior.) Each group in America can have its own menu of these things. This accomplished two ends: it allowed criminal behavior to explode; and it allowed the elites to excuse themselves from any serious further attempts to manage the res publica. The people of the ghettos were free to do their thing; while the elites turned their full attention to Boomer careerism and Gordon Gecko style financial moneygrubbing.

Read more …

“..If we use the low estimate and do not adjust for inflation, the value of stolen technology would be at least $5.4 trillion.”

• America Funded China’s Rise (Morrison)

The free trade brigade obsesses over economic minutiae—they cry that tariffs will raise the cost of plastic spatulas by 50 cents! What a disaster! Who cares? The reality is that trade with China is not in America’s interests because it funds our greatest rival. Here’s how America funded China’s rise, and why tariffs will help keep America safe and free. A Dragon Fed: How America Funded China’s Rise. Economists say freer trade benefits everyone—even trade with China. America gets cheap goods and China gets money. Win-win. Even if we assume America benefits, which is a false assumption as proven in my book Reshore, China has clearly benefited more. For example, China’s economy has grown by an average of 8.12% since joining the World Trade Organization in 2001—about four times greater than America’s. China and America benefited asymmetrically from trade.

Asymmetry may not be a problem economically, but it is a problem politically. Why? Power is zero-sum. The stronger China grows, the weaker America becomes relative to China. As such, trade with China is also a political issue. The question we should be asking ourselves is whether cheap goods are worth surrendering America’s political dominance. To be clear, trade is not the only way that America has funded China’s rise. There are three primary ways that America enriches and empowers China: investment, trade, and theft. First, America invested directly in China by building factories—offshoring 60,000 factories does not come cheap. The total value of American investment in China is unknown. According to China’s Ministry of Commerce, cumulative foreign direct investment (“FDI”) totalled $2.7 trillion in 2023. Just 2.1% of this investment was categorized as American.

The reason that this amount is so low is because American investment is usually routed through intermediaries, mostly Hong Kong, Singapore, and the British Virgin Islands. This is why Hong Kong—a city smaller than Shanghai—owns 68% of FDI in China. Not coincidentally, Hong Kong is a major recipient of FDI from the U.S. and from the British Virgin Islands—a tiny banking archipelago that is itself capitalized by the U.S. and the City of London. Because of this shell game, we cannot know the actual amount American companies have invested in China, but if we assume that FDI correlates with the relative size of China’s trade surpluses, then America’s investments total $972 billion. This estimate is probably low. Why? China runs trade surpluses with countries that clearly contributed no investment, such as most countries in Africa and the Middle East. Given the level of economic integration, I would hazard an estimate that most FDI ultimately originated in America or the City of London, funneled through their banking havens.

Second, America indirectly funded China’s rise through the trade deficit, buying more Chinese goods than we sold. The cumulative trade deficit with China since 2001 is roughly $6 trillion, after accounting for inflation. Not only were the Chinese able to spend these profits, but they were also able to borrow against the revenue, greatly multiplying their access to capital. Third, China has stolen an almost unquantifiable amount of American technology. In 2017, the Office of the United States Trade Representative estimated that China steals intellectual property worth between $225 and $600 billion per year, more than the value of the annual trade deficit. If we use the low estimate and do not adjust for inflation, the value of stolen technology would be at least $5.4 trillion.

Interestingly, the above numbers actually undervalue the quantity of this theft. Why? Because most of the technological and IP outflows are not stolen in a traditional sense. For example, the main vector of technological transfer is via Chinese companies using their profits from the trade deficit to buy shares in American companies, at which point they own the technology. Currently, foreigners own 17% of American equities, and the number is growing. The other vector is through Sino-American corporate partnerships. Basically, American companies that build factories in China are forced to partner with a local Chinese company, a corporate clone. The plant is staffed by Chinese workers, who are taught America’s industrial processes and how to replicate American technology.

Providing China access to American technology is actually the price to enter China’s market—American companies cannot operate in China without giving up their technological and industrial secrets. Yet they do it anyways because the Chinese make it worth their while. In my view, the value of America’s stolen technology was priceless. Remember, mainland China’s economy was largely preindustrial—about as productive and technologically advanced as the Thirteen Colonies during the American Revolution. Now, China has reached technological parity with the U.S. Theft allowed China to skip 200 years of technological and economic development. America funded China’s rise. This has not only impoverished America, but it has also ended America’s superpower era. We now live in a multipolar world, bought and paid for by America’s corrupt politicians and Wall Street.

Read more …

“..the divide between the MAGA-friendly media and their more mainstream counterparts.” The extreme hatred of Trump is “more mainstream.”

• Liberals Loathe Arrival of ‘MAGA Media’ Inside the White House (DS)

The New York Times recently published a hissy fit about the White House allowing reporters into the Briefing Room who didn’t vote for Kamala Harris. Here was the amazing protest sentence: “Longtime White House reporters say the result has been an erosion of their independence.” The presence of a reporter who didn’t vote Democrat doesn’t “erode” the anti-Trump animus (“independence”) of liberal activist journalists. It might balance it, suggesting journalism and liberalism are not exactly the same thing. This spurred a trend. Politico’s Ian Ward profiled these invaders under the headline “Meet the 8 MAGA Outlets Disrupting the White House Briefing Room.” It carried the usual labeling about “the divide between the MAGA-friendly media and their more mainstream counterparts.” The extreme hatred of Trump is “more mainstream.”

Then came CNN’s Donie O’Sullivan, who loves to wade into MAGA crowds, trying to find the dumbest-sounding Trump supporter he can find. In this case, he went looking for the dumbest-sounding White House reporter. The headline over the video was “‘Do you consider yourself a journalist?’ CNN meets MAGA media at White House.” O’Sullivan showed clips of these pro-Trump reporters admitting their bias, and he proclaimed, “These are White House correspondents like you’ve never seen before.” Really? He spotlighted Cara Castronuova of Lindell TV asking if they’ll release Trump’s fitness routine, since he “actually looks healthier than ever before.” In 2009, a Washington Post reporter touted Barack Obama’s “chiseled pectorals.” Then O’Sullivan replayed Real America’s Voice reporter Brian Glenn asking Ukrainian president Volodymyr Zelenskyy, “Why don’t you wear a suit?” He suggested to Glenn he was “trolling,” but it’s a question lots of Americans would ask.

Natalie Winters from Steve Bannon’s “War Room” podcast said, “If it were up to me, I’d kick a lot of these outlets out.” In other words, she has the same opinion as CNN, only reversed. O’Sullivan asked Winters, “Do you consider yourself a journalist?” He said many say, “You don’t deserve to be here because you’re not a real journalist.” She attacked the pro-Joe Biden media: “I’m pretty sure the people in there spent four years covering for someone who was essentially dead, and that’s being charitable. … You guys failed, and that’s why we’re here.” CNN exemplified the point last year when anchor Dana Bash was deeply troubled over bumbling-Biden videos. They were “amplified on conservative media that in some cases are just not right and in other cases are highly, highly misleading of President Biden.”

O’Sullivan lectured about the “new media” people: “A lot of them are more cheerleading President Trump than challenging him.” He ended by quoting White House Correspondents’ Association leader Eugene Daniels: The public “needs news produced by experienced, professional journalists who ask tough questions and produce fair coverage.” Under Biden, Daniels wasn’t known for asking “tough questions.” At the 2024 Kamala cuddlefest before the National Association of Black Journalists, Daniels began by gently asking if the American people were better off after four years. Daniels went on shows such as “Washington Week” on PBS and denied Kamala was ever “border czar” and insisted she was a victim: “We’ve already seen a lot of racism and sexism, and that’s going to be a huge part of this campaign.”

Then there’s CNN itself. One of the most memorable tongue-bath questions came in 2009, when then-New York Times reporter Jeff Zeleny asked Obama what “enchanted” him about being president. Then-CNN anchor John Roberts praised the softball and Obama’s “thoughtful” answer. Zeleny was later hired by CNN. Reporters asking softballs at the White House is nothing new. It’s OK when the “mainstream” does it for Democrats.

Read more …

It’s nice that people start growing their own food. But the real big impact is in the supermarkets. The artificial dyes are just the start.

• Make America Healthy Again Movement Extends Beyond RFK Jr (ET)

For avid supporters, the Make America Healthy Again (MAHA) movement itself is not new. It began long before Robert F. Kennedy Jr.’s presidential campaign and subsequent confirmation as health secretary. “The principles of the MAHA movement were once a way of life all over the country decades ago,” Samantha Rayburn, a 40-year-old mother of two teenage sons, told The Epoch Times. “It’s encouraging to see more people adopting those beliefs and understanding that God gave us what we need to feed our bodies and heal our bodies. With how sick and unhealthy we are as a society, this return to the basics is needed.” Rayburn developed an interest in foraging for herbs and plants when she was a little girl and was inspired to make her first tincture when her oldest son caught whooping cough when he was 2. She describes the MAHA movement as “a return to the basics.”

“It’s getting back to when we knew what was in our food because we grew it and got what we didn’t have from local farmers,” said Rayburn, who lives in southern Ohio. “RFK Jr. and MAHA have made what many of us believe in more mainstream. People are now contacting me and wanting to learn more about herbs. I don’t seem so crazy anymore.” She was referring to her business, Hadassah’s Herbs for Health and Healing. When Kennedy delivered a speech in August 2024 announcing that he was suspending his campaign and backing then-former President Donald Trump, he said that Trump was giving him the opportunity to help make America healthy again. What followed was a social media frenzy with “Make America Healthy Again” and “MAHA” hashtags. MAHA the acronym was born. Samantha Rayburn has treated her sons, Holden and Wyatt, with herbal remedies since they were infants and believes in Robert F. Kennedy Jr.’s Make America Healthy Again platform.

She now heads the Victory Garden Alliance, which encourages people, communities, and organizations to grow their own food. “There is a revival in growing our own food, supporting local farms, and knowing what’s in our food. Bobby and the MAHA movement have catapulted that interest,” Capriotti told The Epoch Times. “We need this. Our kids need this. It’s important they understand how food is grown and where it comes from. That will inspire healthier new generations because they will become smarter consumers.” She calls what is happening with the MAHA movement a “health revolution.” She is working to educate elected officials and political candidates. “Many of us who worked on the presidential campaign didn’t stop our objectives when it ended. That’s an example of how MAHA is a movement not tied to one person,” Capriotti said.

As health secretary, Kennedy has a mandate to fight chronic disease, improve children’s health, and address corporate influence on government agencies. He has pledged to remove toxic chemicals from the nation’s food supply, increase transparency, improve vaccine safety, and make significant changes to the Food and Drug Administration, the National Institutes of Health, and the Centers for Disease Control and Prevention—operating divisions within Health and Human Services. These plans, along with encouraging Americans to grow their own food and buy meat and produce from farmers who do not use pesticides and toxins, are among the initiatives of the MAHA movement.

Read more …

PepsiCo cares only about the bottom line.

• A HUGE Win for the Make America Healthy Again Movement (Margolis)

Score one for the Make America Healthy Again movement. After Health and Human Services Secretary Robert F. Kennedy Jr. called for a crackdown on artificial ingredients, PepsiCo wasted no time getting the message. On an April 24 conference call, PepsiCo Chairman and CEO Ramon Laguarta announced that the company has already begun reducing artificial ingredients across its products. “We’ve been leading the transformation of the industry now for a long time on sodium reduction, sugar reduction, and better fats,” Laguarta said. Now, under pressure from a public fed up with chemicals in their food, PepsiCo is finally moving faster toward cleaning up its act — a clear sign that the Make America Healthy Again movement is already having a powerful impact. “Sixty percent-plus of our (portfolio) today doesn’t have any artificial colors,” Laguarta added, indicating that the company is “undergoing that transition.”

Fox News Digital has more. “Laguarta cited examples such as Lay’s and Tostitos, which “will be out of artificial colors by the end of this year.” He added, “So, we’re well underway.” RFK Jr. and Dr. Martin Makary, U.S. Food and Drug Administration commissioner, announced a ban on petroleum-based synthetic dyes from America’s food supply last Tuesday. As the HHS noted in its news release, among the steps to be taken are “establishing a national standard and timeline for the food industry to transition from petrochemical-based dyes to natural alternatives.” “Initiating the process to revoke authorization for two synthetic food colorings — Citrus Red No. 2 and Orange B — within the coming months; and working with industry to eliminate six remaining synthetic dyes — FD&C Green No. 3, FD&C Red No. 40, FD&C Yellow No. 5, FD&C Yellow No. 6, FD&C Blue No. 1, and FD&C Blue No. 2 — from the food supply by the end of next year.”

Certified nutritionist and Make America Healthy Again supporter Liana Werner-Gray celebrated PepsiCo’s move as a major step forward. “This is a huge win for public health and long overdue,” she told Fox News Digital. Werner-Gray, author of “The Earth Diet,” explained her philosophy as “all about going back to nature and eating foods from nature, eating real nutrition, eating foods that God provides us with naturally.” She also shared that she has long avoided artificial dyes, saying, “I’ve personally eliminated artificial dyes like Red 40, Yellow 5, Yellow 6, Blue 1 and others from my diet over 16 years ago when I started The Earth Diet, living a natural lifestyle.” She added, “Once I removed these dyes and switched to natural, whole-food-based alternatives, those symptoms [frequent major mood swings, anxiety, skin breakouts, and energy crashes] went away, too.”

Werner-Gray believes the manipulation of food has gone unchecked for far too long, and it’s finally time for a course correction. “This move by the FDA under Secretary Kennedy and Commissioner Makary’s leadership is a pivotal step toward restoring integrity in our food system,” she told Fox News Digital. “It’s time we raise the standard. Clean, natural and nourishing food should be the norm, not a luxury.” During the April 24 conference call, PepsiCo’s CEO emphasized that the company’s chips, puffs, and other snacks are still considered safe to consume and reaffirmed that PepsiCo stands by the existing science, according to reports. Still, there’s no denying the impact President Trump is already having in his second term. With leaders like RFK Jr. at the helm, the Make America Healthy Again movement isn’t just a slogan; it’s delivering real results and forcing even major corporations to change course.

Read more …

“.. in just a “few years,” robots will surpass “good human surgeons” and will beat the best doctors within about five years..”

“..the required speed and precision is “impossible for a human to achieve.”

• Robots Will Outperform Human Surgeons In Five Years – Musk (RT)

Robots will soon replace human surgeons and are already capable of carrying out operations that are considered impossible for ordinary people to perform, Elon Musk has predicted. In a post on X on Saturday, the billionaire tech entrepreneur suggested that in just a “few years,” robots will surpass “good human surgeons” and will beat the best doctors within about five years. He noted that his Neuralink biotech company has already had to rely on robot surgeons to carry out the brain-computer electrode insertion of brain chips because the required speed and precision is “impossible for a human to achieve.” Musk’s comments came in response to a post by popular X influencer Mario Nawfal, who quoted an article about the rising success of robot surgeons such as the Medtronic ‘Hugo’.

It is reported that the robot has already been tested in 137 real surgeries such as fixing prostates, kidneys, and bladders. “The results were better than doctors expected,” Nawfal said, noting that the complication rates were 3.7% for prostate surgeries, 1.9% for kidney operations, and 17.9% for bladder procedures. “The robots got a 98.5% success rate, way above the 85% goal,” the post claimed, adding that out of the 137 surgeries, only two needed to be taken back over by real doctors due to a glitch and because of a “tricky patient case.” Previously, Musk suggested that brain-computer interfaces like those being developed by Neuralink would replace technologies such as cell phones.

Neuralink has already successfully implanted its brain chip – about the size of a coin – in three patients. After the procedure, they were able to control a computer cursor and play video games like chess and Counter-Strike using only their thoughts. One of the patients, who is non-verbal, was also able to use the device to communicate through an AI-generated voice clone. Musk has since announced plans to expand Neuralink’s clinical trials with the goal of implanting the brain chip in 20 to 30 more patients in 2025.

Read more …

 

 

 

 

Dim sun
https://twitter.com/BGatesIsaPyscho/status/1916602036361056379

Baby

Eyes
https://twitter.com/buitengebieden/status/1916830062021648669
https://twitter.com/amzingnature1/status/1916669281288311066

Imagine

Gong
https://twitter.com/XPHOENIXDRAGON/status/1916504825019130021

13 years ago

 

 

 

 

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

 

 

 

 

 

Debt Rattle April 4 2025

Apr 042025
 
 April 4, 2025  Posted by at 9:14 am Finance Tagged with: , , , , , , , , , , , ,  57 Responses »


Pablo Picasso Portrait of woman in wheelchair 1936

 

• This Is Good. Very, Very Good. (CTH)
• Beijing Slams Trump’s “Unilateral Bullying” Tariffs, Signals Retaliation (ZH)
• President Trump Ends Duty-Free De Minimis Treatment for All Chinese Goods (CTH)
• World Leaders React To Trump’s Tariff Onslaught (RT)
• Here’s Why Trump Will Win the Tariff Standoff (Margolis)
• Kevin O’Leary Slams Canada’s ‘Sheer Stupidity’ in Trade Standoff With Trump (Margolis)
• How Could Trump Tackle Trap Set Up by Europe? (Sp.)
• Trump Teases Bombshell DOGE Finding: ‘What They Found Is Incredible’ (ZH)
• Trump Tariffs Breach NATO Rules – Norway (RT)
• Putin, Zelensky Ready To Make A Deal – Trump (RT)
• Putin Envoy Visits Washington (RT)
• Third Parties Attempting To Derail US-Russia Talks – Putin Envoy (RT)
• House Panels Press Probe of ActBlue Campaign Fundraising Operations (Adams)
• Dr. Oz Will Save Medicare, Strengthen Medicaid, Secure a Healthier America (DS)
• War With Iran ‘Almost Inevitable’ – France (RT)
• Hungary to Abandon ICC Over Concerns of Political Bias – Orban (Sp.)

 

 

 

 

WH tariffs

Batya Ungar-Sargon
https://twitter.com/DC_Draino/status/1907606593509769654

Lutnick

https://twitter.com/TONYxTWO/status/1907779787730378838

BeckBoasberg

KUHN

Vance
https://twitter.com/nicksortor/status/1907775597897523536

Bernie
https://twitter.com/mazemoore/status/1907883583228051964

Beck

 

 

 

 

What Marine Le Pen and Trump’s tariffs have in common is they are both anti-globalist. The world is changing and everyone will have to adapt.

Here is “sundance” the lawyer:

• This Is Good. Very, Very Good. (CTH)

If it was weak, I would tell you it was weak. If it was a construct that contained dangerous consequences, I would warn you of them. If this trade/tariff regime was going to be harmful to the economy I would say so. This global trade reset (as outlined) doesn’t create doom – not even close, it creates discipline. What we’re seeing isn’t a reckless trade war. It’s a strategic recalibration targeting the structural imbalances that hollowed out American industry. The tariffs are reciprocal, calculated based on actual trade deficits. That’s not random or punitive—it’s mathematically fair. And they’re targeted: this isn’t a broad tax on everything. The focus is on finished goods, not the raw materials and components we need to build here. That protects domestic production and supply chains—not disrupts them.

Some worry this will destabilize capital markets. But this plan doesn’t touch interest rates, credit channels, or core financial plumbing. It doesn’t burden U.S. manufacturers or trigger input price spirals. Quite the opposite—it creates revenue and predictability; two things capital markets thrive on. It also closes loopholes like de minimis, reins in corporate arbitrage, and forces trading partners to play fair. If that creates discomfort for companies built on outsourcing and imbalance, that’s not doom. That’s a long-overdue correction. This isn’t the collapse of global trade. It’s the end of surrender and the beginning of mutual accountability.

This is good. Very, Very good.

Read more …

China had it good for a few decades. So of course they’re not rejoicing today.

“The era of Asia’s export manufacturing-led development has come to an end, and the region will need to develop markets closer to home.”

• Beijing Slams Trump’s “Unilateral Bullying” Tariffs, Signals Retaliation (ZH)

President Trump’s late afternoon announcement on Wednesday—”Liberation Day”—unveiled a far more aggressive tariff policy than top Wall Street analysts had anticipated, prompting panic dumping in global equities and futures markets overnight. Of particular concern is Trump’s stance toward China. The total effective tariff rate on Chinese imports surged to 54%, a dramatic increase of 34% from the previously imposed 20% in additional levies tied to fentanyl and earlier duties. Trump’s Liberation Day has drawn swift condemnation from Beijing, which has described the escalating tariff war as “unilateral bullying.” Nikkei Asia quoted China’s Ministry of Commerce, warning that it “firmly opposes” Trump’s tariffs and “will resolutely take countermeasures to safeguard its own rights and interests.”

The Commerce Ministry noted that the US “ignored” the benefits of a global trading system, adding, “The so-called ‘reciprocal tariffs,’ which are based on subjective and unilateral assessments by the United States, are not in line with the rules of international trade, seriously jeopardize the legitimate rights and interests of the parties concerned, and are typical of unilateral bullying.” The ministry did not discuss specifics on the countermeasures. A ministry spokesperson told reporters that Beijing hopes to “resolve various issues through equal consultation.” In other words, it’s just a matter of time before Beijing mounts a countermeasure against the US, whether that’s targeted tariffs, export controls, or other measures (such as targeting US Big Tech). Or as we’ve recently seen: Beijing Derailing Panama Port Deal.

Guo Jiakun, a spokesperson for China’s Ministry of Foreign Affairs, sang the same tune: China “firmly opposes” Trump’s trade war escalation, which “seriously undermines” the rules-based global trading system. He urged Washington to resolve trade differences through talks. However, President Trump tried that with the Chinese Communist Party in his first term with the so-called “Phase One” agreement. Beijing committed to purchasing $200 billion of additional US exports. Yet, the phase one deal with the CCP was derailed by Covid disruptions. The Trump administration’s goal with reciprocal tariffs against literally the entire world, including some cases of near triple-digit reciprocal tariffs that will lead to a historic emerging markets shock, is to reverse a half-century or more of de-industrialization policies in the US that have hollowed out the nation’s core and produced a national security threat as the world fractures into a bipolar state.

In financial markets, the People’s Bank of China set the daily reference rate for the yuan at 7.1889 per dollar, weakening the currency. This allows the yuan to depreciate and support export competitiveness. A move like this will only draw accusations of currency manipulation from Trump. “We maintain our view that the PBOC will not allow a sharp [yuan] depreciation given capital outflow risks and the government’s objective to restore confidence in the Chinese economy,” HK Mizuho Securities analyst Ken Cheung wrote in a note earlier. Goldman analysts Andrew Tilton and others told clients:

“On April 2, President Trump announced “reciprocal” tariffs on trading partners with exclusion of products that are subject to sectoral tariffs, resulting in what we estimate to be an increase of 26pp in the average effective US tariff rate on China, which would bring the total effective tariff rate on Chinese goods to 58%. This is much higher than we and the market had expected. Similar to the experience when the previous two 10% tariff increases were imposed on China earlier this year, we think the Chinese government is likely to retaliate with some targeted tariffs on US products as well as non-tariff measures like export controls.

We expect policymakers to continue to resist significant CNY depreciation. We believe the government will step up easing measures to offset the additional growth drag from higher tariffs. We are not changing our 2025 full-year GDP growth forecast of 4.5% at this time due to better-than-expected Q1 data and increased policy easing expectations, as well as remaining uncertainties regarding whether some of the tariffs could be negotiated down in the coming months. That said, we acknowledge downside risk from slowing global growth after the large, across-the board US tariff increases.”

S&P Global Ratings credit analyst Ming Tan warned that Trump’s tariffs could exacerbate China’s weak economy: “The drag on China’s economy from higher tariffs will transmit to banks. We expect problem loans will rise over the next few years and could leap as high as 6.4% of total loans in a downside scenario.” Fred Neumann, chief Asia economist at HSBC, had a big-picture view for clients: “The era of Asia’s export manufacturing-led development has come to an end, and the region will need to develop markets closer to home.”

Read more …

No paper work for cheap trinkets picked up on a holiday. Makes sense. But when it becomes anything under $800, that sense changes profoundly. Now we’re talking laptops.

• President Trump Ends Duty-Free De Minimis Treatment for All Chinese Goods (CTH)

The de minimis loophole comes from back in the 1930s. The idea back then was, say you went on a vacation to Paris, you shouldn’t have to file customs paperwork or pay taxes if you decided to ship some little Eiffel Tower statues to your friends back home. Congress in 2015 then raised the de minimis threshold from $200 to $800. However, the e-commerce world exploded, and Chinese companies began using the de minimis loophole to ship cheap goods (ex. Temu and Shein) into the USA direct to consumers without paying any customs duty. Yesterday as part of the global trade reset and tariff structure, President Trump revoked authorization for Chinese goods to transfer to the USA using the de minimis rule.

The de minimis exemption has been cancelled for all products coming out of China. The rule change only targets China and Chinese shippers. No one else. The minimum duty is $25, and the tariff rate is 30% for all products mailed from China into the USA that previously qualified under the de minimis rule. Beyond tariffs or sector specific countervailing duties, the removal of China to use the $800 de minimis exemption will destroy their economy. There is no way for manufacturers in China, marketed into the USA, to be able to survive if they are forced to collect and organize the requirements for U.S. custom and import duties. They will simply dissolve.

FACT SHEET – […] “Following the Secretary of Commerce’s notification that adequate systems are in place to collect tariff revenue, President Trump is ending duty-free de minimis treatment for covered goods from the People’s Republic of China (PRC) and Hong Kong starting May 2, 2025 at 12:01 a.m. EDT. Imported goods sent through means other than the international postal network that are valued at or under $800 and that would otherwise qualify for the de minimis exemption will be subject to all applicable duties, which shall be paid in accordance with applicable entry and payment procedures. All relevant postal items containing goods that are sent through the international postal network that are valued at or under $800 and that would otherwise qualify for the de minimis exemption are subject to a duty rate of either 30% of their value or $25 per item (increasing to $50 per item after June 1, 2025).

This is in lieu of any other duties, including those imposed by prior Orders. Carriers transporting these postal items must report shipment details to U.S. Customs and Border Protection (CBP), maintain an international carrier bond to ensure duty payment, and remit duties to CBP on a set schedule. CBP may require formal entry for any postal package instead of the specified duties. The Secretary of Commerce will submit a report within 90 days assessing the Order’s impact and considering whether to extend these rules to packages from Macau.”

Read more …

They can all make the deal to abolish their own tariffs.

• World Leaders React To Trump’s Tariff Onslaught (RT)

US President Donald Trump on Wednesday rolled out a sweeping new wave of “reciprocal tariffs” as part of his so-called “Liberation Day” plan, sparking concerns over a potential global trade war. Trump announced that Washington would impose tariffs ranging from 10% to 49% on all countries based on the principle of reciprocity, declaring it a day of economic independence for the United States. Trump said the tariffs would be used to boost US manufacturing and that the measure would “make America wealthy again.” Many countries have reacted with dismay and have pledged retaliation. While a 10% base tariff was applied to all imports, many of the top US trading partners were hit with much steeper duties.

China China – branded one of the “worst offenders” by Trump – was hit with a new 34% tariff on its goods, in addition to an existing 20% levy, raising total duties to at least 54%. The US decision ignores the balance of interests established through years of multilateral trade negotiations and overlooks the fact that it has long reaped significant benefits from global trade, the Chinese Commerce Ministry said in a statement on Thursday. “China firmly opposes this and will take countermeasures to safeguard its own rights and interests,” the ministry said. “There are no winners in trade wars, and there is no way out for protectionism. China urges the US to immediately lift unilateral tariffs and properly resolve differences with its trading partners through dialogue on an equal footing,” the ministry added.

Canada Canada, already subject to US tariffs, was spared the additional 10% baseline tariffs applied to many other countries due to its membership in the US-Mexico-Canada Agreement (USMCA). It’s unclear how much last week’s “extremely productive” call between Trump and Canadian Prime Minister Mark Carney influenced the decision to grant Canada a reprieve. Last month, Trump imposed a 25% tariff on Canadian goods and 10% on energy products, citing concerns over drugs and migrants crossing the border. Exceptions were made for importers who can prove their products comply with USMCA. Carney stated that while Trump had preserved key aspects of the commercial relationship between Canada and the US, the tariffs on steel, aluminum, and automobiles were still coming into effect. “We are going to fight these tariffs with countermeasures, we are going to protect our workers, and we are going to build the strongest economy in the G7,” Carney said.

Mexico Another major US trade partner, Mexico, also avoided Trump’s global tariff. The US president had earlier slapped 25% tariffs on its southern neighbor, citing failures to address migration and fentanyl trafficking, but later carved out exemptions for USMCA-compliant goods. Mexican President Claudia Sheinbaum said the country has no plans to impose retaliatory tariffs on the US and will “announce a comprehensive program, not a tit-for-tat on tariffs.” “Let’s see what announcement they make, but we have a plan to strengthen the economy under any circumstance,” Sheinbaum added.

EU European Commission President Ursula von der Leyen described the universal duties as a “major blow to the global economy.” She claimed that a new 20% US tariff on the EU would see “uncertainty spiral,” causing “dire” consequences “for millions of people around the globe.” The move will “trigger the rise of further protectionism,” von der Leyen argued, warning that the bloc is prepared to respond. “If you take on one of us, you take on all of us,” she stated. Echoing her remarks, European Council President Antonio Costa said a trade war between the EU and the US would “affect everyone,” and called Trump’s decision a “major economic mistake.” Italian Prime Minister Giorgia Meloni, a close ally of Trump, criticized the decision as “wrong” but expressed her commitment to negotiating a deal with the US to “prevent a trade war.”

In Germany, the EU’s major economic powerhouse, which has been grappling with a downturn over the past two years, Economy Minister Robert Habeck slammed the US “obsession” with tariffs, warning that it “could put a spiral in motion that can tear countries into recession.” In France, President Emmanuel Macron is set to convene representatives from all business sectors affected by the import tariffs as producers are already counting future losses. Sales of French wine and spirits are expected to drop by at least 20% in the US, spirits exporters group FEVS told Reuters.

“We are indeed going to see an adverse effect on production,” French government spokeswoman Sophie Primas told broadcaster RTL. Trump “thinks he is the master of the world” but the EU is “ready for this trade war” and has a “whole range of tools,” she insisted. The sweeping tariffs will put jobs at risk on both sides of the Atlantic, according to Irish Taoiseach (Prime Minister) Micheal Martin, who believes there is “no justification for this.” Goods from Ireland will be hit with a 20% tariff as part of measures Trump has imposed on the EU. “More than €4.2 billion worth of goods and services are traded between the EU and the US daily. Tariffs drive inflation, hurt people on both sides of the Atlantic, and put jobs at risk,” Martin said.

UK Britain was hit less hard than most other countries with a 10% duty imposed on its exports. Prime Minister Keir Starmer said “nobody wins in a trade war” and vowed to “fight for the best deal for Britain.” He argued that there’s a “range of levers at our disposal” stressing, however, that the UK’s “intention remains to secure a deal” with the US. ‘Reciprocal’ duties, action against ‘pathetic’ EU: Key points from Trump’s global tariff announcementREAD MORE: ‘Reciprocal’ duties, action against ‘pathetic’ EU: Key points from Trump’s global tariff announcement

Japan Japan has “serious concerns” about the consistency of Trump’s tariffs with the WTO agreement and the Japan-US trade deal, Prime Minister Shigeru Ishiba said in a statement. Japanese Trade Minister Yoji Muto described the measures as “extremely regrettable” and stated that all options were under consideration. When asked whether Japan would retaliate against the 24% tariff imposed by the US, he said: “We need to decide what is best for Japan, and most effective, in a careful but bold and speedy manner.”

Israel Economic officials in Israel, a key US ally, were reportedly in “complete shock” over the 17% tariff imposed by Trump, according to local media. The country had eliminated all tariffs on American imports ahead of the announcement to ensure that Israel was exempt from new levies. “We are working to understand the motivation behind this move,” Ron Tomer, president of the Manufacturers Association of Israel, said on Wednesday.

Ukraine The new 10% tariff announced by Trump on Ukrainian imports is “economic cynicism,” said Daniil Getmantsev, head of the Ukrainian Parliament’s Finance Committee. According to Getmantsev, the levy is unlikely to have a major negative impact on Ukraine, given the relatively small exports to the US. “But imposing such tariffs when our trade balance with the US shows a $2.6 billion deficit is, frankly, economic cynicism of the highest order,” he added.

Read more …

“Well, I would say they’ve been doing it to us for a long time. And, if they don’t like tariffs, then why do they have them?”

• Here’s Why Trump Will Win the Tariff Standoff (Margolis)

Treasury Secretary Scott Bessent made it clear in an interview with CNN that the era of trade imbalances is over, and under President Trump, the U.S. will no longer tolerate unfair treatment. During a discussion with CNN’s Kaitlan Collins, Bessent confidently explained the administration’s position on tariffs and trade policy, signaling that Trump’s economic strategy is deliberate and well thought out. When pressed on how the administration’s policies could impact the auto industry, particularly regarding vehicles made with foreign parts, Bessent was blunt. “If half the cars coming into the United States are foreign-made, that’s hard to turn around overnight, as you know,” Collins said. “So what would you say to people in the auto industry who are worried about that timeline and how quickly that could shift?”

“Buy American,” Bessent said bluntly. He also clarified that the United States-Mexico-Canada Agreement (USMCA) exempts certain vehicles and parts from the new tariffs. Collins attempted to raise concerns from U.S. allies, questioning what the administration would say to countries like South Korea and Japan, which are now facing increased tariffs. Bessent’s response was direct: “Well, I would say they’ve been doing it to us for a long time. And, if they don’t like tariffs, then why do they have them?” His answer underscored the administration’s stance that America has been on the losing end of trade deals for too long.

As for whether the tariffs should be considered permanent, Bessent took a wait-and-see approach. “I think we’re gonna wait and see how this plays out,” he explained, suggesting that adjustments could be made based on how the policy unfolds. Collins also asked about the possibility of retaliation from other countries. Some foreign leaders have hinted at potential countermeasures, while others have opted to observe before making a move. Bessent urged patience. “One of the messages that I’d like to get out tonight is everybody sit back, take a deep breath, don’t immediately retaliate, let’s see where this goes. Because if you retaliate, that’s how we get escalation.”

When Collins pressed him on whether such escalation could turn into a full-fledged trade war, Bessent dismissed the idea. “Not a trade war. Depends on the country,” he said, before explaining that history favors the United States in such disputes. “Remember that the history of trade is, we are the deficit country. The deficit country has an advantage,” he explained. “[The others] are the surplus countries. The surplus countries traditionally always lose any kind of a trade escalation.”

His message to foreign governments was clear: Acting hastily would be a mistake.“ As a student of economic history or a professor of economic history, I’d advise against it,” he said. When Collins sought further clarification, he reinforced the point: “I would say that doing anything rash would be unwise.” Bessent’s remarks leave no doubt that Trump’s trade policies are rooted in historical precedent and strategic calculation. While globalists may panic, the Trump administration remains confident that America is in a stronger position than its trade partners. And history is on our side. Bessent’s message is clear: Trump knows exactly what he’s doing.

Read more …

Carney has elections coming. And his party polls great on anti-Trump thetoric. But he’ll still have to walk it back.

• Kevin O’Leary Slams Canada’s ‘Sheer Stupidity’ in Trade Standoff With Trump (Margolis)

Famed entrepreneur and “Shark Tank” star Kevin O’Leary eviscerated Canada’s leadership for its defiant stance against U.S. trade policies, calling the rhetoric from Interim Prime Minister Mark Carney “sheer stupidity” and warning that the country is in no position to win a trade war with President Trump. Speaking on CNN, O’Leary, who is himself Canadian, reacted to Carney’s inflammatory remarks. The prime minister declared, “We are cutting off all ties to the United States. There’s no cooperation anymore.” O’Leary dismissed the statement as political posturing with no basis in economic reality. “That, of course, is sheer stupidity,” he said. “Seventy-five percent of the output of the Canadian market for over a hundred years has been sold to the U.S., and 17 states in the U.S. call Canada their number one trading partner.”

O’Leary pointed out that despite Carney’s tough talk, Canada is economically dependent on the United States and cannot afford to play a game of brinkmanship with its largest trading partner. He argued that Carney’s remarks were more about political theatrics than sound economic policy. “If you wanna be tough and you wanna sound important and you’re trying to get elected and you’re the only person that can save every Canadian from the evil Trump, that’s exactly what you say,” O’Leary said, accusing Carney of exploiting anti-Trump sentiment to bolster his own political image. He likened Carney’s rhetoric to that of Trump trade advisor Peter Navarro, who has declared that U.S. tariffs would remain in place indefinitely. O’Leary was equally dismissive of such claims, calling them nothing more than political noise meant to rally supporters rather than provide real solutions.

“Navarro’s saying the same thing. ‘These tariffs are in perpetuity. We will fix this. We will push back the world’. All of this rhetoric and noise, it’s not the signal.” O’Leary argued that the best path forward would be a trade framework in which tariffs are removed entirely. “It’s all noise. And in the end, I think everybody’s better off if we get to reciprocal tariffs of zero,” he said. I think we all know that this is Trump’s goal, too. He wants free trade to actually be free trade. O’Leary emphasized that serious investors like himself look at the long-term picture rather than get caught up in the short-term panic created by political leaders. “So the countries you care about, that you wanna do business with, you end up with zero tariffs and you support a free trade mandate. It’s very hard to see that outcome in the cloud we’re in right now and all the rhetoric and jawboning, but if you’re an investor like I am, you think long term.”

While some have expressed concerns about rising inflation and housing prices, O’Leary cautioned that such economic shifts take time to unfold. “Not two weeks, not two months,” he said, pushing back against the notion that immediate catastrophe was looming. O’Leary noted that similar political grandstanding is happening in other countries as well. “Britain’s doing the same thing right now,” he pointed out. “You should hear the rhetoric in London today.” Ultimately, O’Leary was confident that the current wave of economic fearmongering would subside. “It too will pass,” he concluded, reinforcing his belief that Canada’s leadership needs to drop the empty threats and focus on practical solutions.

Read more …

“..the US’s Cold War era-based foreign policy perfectly suits European elites, who want Trump back into “the fold of the historical West..”

• How Could Trump Tackle Trap Set Up by Europe? (Sp.)

The US president earlier said that “from the standpoint of America, the EU treats us very, very unfairly, very badly. The US’s European allies set up a trap for the Trump administration to contain its “drastic” foreign policy shift, Alexander Yakovenko, Deputy Head of Rossiya Segodnya International Media Group, told Sputnik. Trump could get out of the trap if he “masters enough political will” and doesn’t “put up with the US foreign policy strategy of the Cold War era”, Yakovenko, who is also head of the Russian Security Council’s Expert Advisory Committee on global problems and international security, stressed. The expert noted that the US’s Cold War era-based foreign policy perfectly suits European elites, who want Trump back into “the fold of the historical West, as we have known it over the past 80 years.” The European elites are unwilling to change “their mentality and their worldview, they’d rather live in the world of their own, which I think doesn’t exist any longer,” Yakovenko emphasized.

Read more …

“President Trump had the courage to allow us to go across databases. He signed an executive order. It’s never been done before, where agencies could talk to each other and databases could talk with each other.”

• Trump Teases Bombshell DOGE Finding: ‘What They Found Is Incredible’ (ZH)

President Donald Trump teased another explosive revelation from the Department of Government Efficiency (DOGE), as Democrats and legacy media escalate their ongoing campaign against the cost-cutting initiative and its leader, Tesla CEO Elon Musk. While speaking with the press aboard Air Force One en route to South Florida for the weekend, Trump said: “They found something today that’s horrible,” adding. “You’ll find out very soon. What they found is incredible.” Trump also gave Musk credit for his leadership at the Department of Government Efficiency (DOGE), which has so far achieved an estimated savings of $140 billion, amounting to roughly $869.57 per taxpayer.

“Elon is fantastic,” the president said. “He’s a patriot. He found millions of dollars of fraud.” “He loves the country that’s why he does it,” he added. Addressing speculation about Musk’s future, Trump responded to reporters, “I want him to stay as long as possible.” The president also commented on the recent wave of violent attacks targeting Tesla vehicles and dealerships, incidents he has previously labeled as “terrorism.” “It’s a shame what they are doing with his car company,” he said. “It’s a great car, great product.” According to a since debunked Politico report citing unnamed sources, Trump has privately indicated to close associates that Musk plans to scale back his involvement as an advisor in the near future. While Musk and the White House denied the report, Trump told reporters on AF1 that “Elon is fantastic,” but he has “a number of companies to run.”

“I want him to stay as long as possible,” said Trump. “There’s going to be a point where he’s going to have to leave.” Over the weekend, at a Wisconsin rally aimed at boosting voter turnout, Musk and DOGE volunteer Antonio Gracias disclosed that millions of noncitizens were granted Social Security numbers under former President Joe Biden’s administration. They presented a chart illustrating a consistent annual rise, peaking at over 2 million in FY 2024, which concluded on September 30. In both FY23 and FY25—the latter starting in October and running through September of this year—approximately 1 million noncitizens received Social Security numbers.

“None of this would have happened without President Trump,” Gracias told Fox News. “President Trump had the courage to allow us to go across databases. He signed an executive order. It’s never been done before, where agencies could talk to each other and databases could talk with each other.” “That allowed us to connect all this data, to find these people across the system, across the benefit system, all the way to the voting records. It really took a lot of courage,” he added. Now the question is; what’s this ‘horrible’ thing DOGE found? And is it just a ‘LOOK, SQUIRREL!’ to distract from all the ‘fun’ we’re having in response to new tariffs?

Read more …

US must make Norway rich because they’re both in Nato?!

• Trump Tariffs Breach NATO Rules – Norway (RT)

Recently imposed US tariffs could breach NATO’s founding principles by undermining economic cooperation among allies, Norwegian Foreign Minister Espen Barth Eide has said. He raised the issue during the NATO foreign ministers’ meeting in Brussels on Thursday, public broadcaster NRK has reported. The official reportedly pointed to Article 2 of the North Atlantic Treaty, which commits members to strengthen economic ties to foster peace and stability within the alliance. “If you want a strong NATO, you should ensure that there is as much economic growth as possible in the NATO countries,” NKR quoted him as saying. “That was the insight of those who established NATO, that economic cooperation would be good for the entire alliance,” the diplomat added.

According to the outlet, Eide raised the matter directly with US Secretary of State Marco Rubio during the meeting, saying “We must be clear that protectionist measures between allies are a serious problem.” On Wednesday, US President Donald Trump announced sweeping tariff increases on numerous trading partners, including NATO countries. Norway is among those affected, facing a 15% duty on selected exports to the United States. Norwegian Prime Minister Jonas Gahr Store told NKR on Thursday that Oslo would seek to negotiate with the US over the tariffs.

“This is bad news, it is very serious,” Store said. “There is an opening for negotiations here, the Americans say, and we will use that in every possible way that we can,” he added. Trump’s announcement has sparked concern across the EU, with several NATO allies voicing fears that the tariffs could harm both trade and alliance unity. French President Emmanuel Macron has called the tariffs “brutal and unfounded,” and warned that retaliation could include a digital tax on American tech companies.

Read more …

“Europe has not been successful in dealing with President Putin, but I think I will be successful.” Well, to be honest, Europe is not trying.

• Putin, Zelensky Ready To Make A Deal – Trump (RT)

The leaders of Russia and Ukraine are ready to make a peace deal, US President Donald Trump claimed on Thursday. He has been trying to broker a ceasefire between the two neighbors since February. A reporter asked Trump on Air Force One about his communication with Ukrainian leader Vladimir Zelensky. “I think he’s ready to make a deal. And I think that President [Vladimir] Putin is ready to make a deal,” Trump said. He declined to go into specifics but added that the US was having “a lot of good conversations about Ukraine and Russia.” “We like to see [the conflict] stopped as soon as possible because thousands of people have been killed in a week,” Trump said. “Europe has not been successful in dealing with President Putin, but I think I will be successful.”

Trump made his comments as Putin’s investment envoy, Kirill Dmitriev, traveled to Washington, where he reportedly met with America’s Middle East envoy, Steve Witkoff. The sides mostly continued discussing steps to normalize bilateral relations frozen by the Biden administration in 2022, Dmitriev told reporters on Thursday evening. He noted the “positive dynamic” of the talks, adding that more meetings need to take place to resolve the differences. Trump’s Ukraine envoy, Keith Kellogg, told Fox Business on Wednesday that Trump has been “frustrated” with both Putin and Zelensky. He remained optimistic about the negotiations, saying that the sides were “on the precipice” of a comprehensive ceasefire.

Moscow has accused Kiev of multiple violations of the energy truce brokered by Trump last month. According to the Russian Defense Ministry, the Ukrainian troops struck fuel depots, gas facilities, and the electrical grid, despite promising to respect a 30-day pause on such attacks. Kiev, for its part, claimed that Russia was breaching the same agreement. Russia has maintained that any long-term settlement would be viable only if the US and Ukraine address the “root causes” of the conflict. Moscow demands that Kiev abandon its plans to join NATO and recognize Crimea and four other former Ukrainian regions as Russian territory.

Read more …

Note that Putin didn’t send his political envoy, but his business man.

• Putin Envoy Visits Washington (RT)

Russian President Vladimir Putin’s investment envoy, Kirill Dmitriev, visited Washington on Thursday. He is the highest Russian official who traveled to the US since diplomatic contacts were suspended in 2022. Dmitriev, the head of the Russian Direct Investment Fund, previously participated in the Russian-US talks in Riyadh on February 18, where both sides agreed to start gradually normalizing the ties severed by the Biden administration. Speaking to reporters on Thursday evening, Dmitriev noted that President Donald Trump and his team have a better understanding of Russia’s terms than his predecessor, former President Joe Biden. “We are seeing absolutely clearly that, unlike President Biden, the Trump administration is determined to resolve the whole spectrum of bilateral issues,” the diplomat said.

“They are very respectful. They are listening to Russia’s position, and are understanding Russia’s concerns. They are asking a lot of questions and finding compromises,” he added. “Naturally, there are differences. But there is dialogue, which we believe will help to overcome these differences,” Dmitriev said. The envoy said that he had discussions about restoring trade and normal business relations between the states. “Many American companies would like to replace European companies that have left Russia,” he said. Dmitriev stressed that Moscow is ready to work on business projects that would be beneficial to both countries. He added that the sides talked about potential cooperation in the Arctic and the development of rare-earth minerals. “We are actively working on the resumption of direct flights” between Russia and the US, he said. Dmitriev said that more rounds of talks will be needed to hammer out the deal.

Read more …

“We are seeing a coordinated campaign in the media, attempts by various politicians to undermine the relations between Russia and the US, and attempts to distort the statements made by Russia,” the diplomat said. “It happens on a daily basis.”

• Third Parties Attempting To Derail US-Russia Talks – Putin Envoy (RT)

Certain countries want to throw a wrench into the normalization of Russian-American relations, President Vladimir Putin’s investment envoy, Kirill Dmitriev, has said. He made his comment during a rare trip to Washington, where he met with top US officials. “Different countries are trying to derail this dialogue, derail the restoration of the Russian-American relations,” Dmitriev told reporters on Thursday evening. He noted that the negotiations have been accompanied by “a lot of rumors, incorrect quotes, and incorrect interpretations.” “A lot of people are interested in preventing the development of our relations. We are seeing a coordinated campaign in the media, attempts by various politicians to undermine the relations between Russia and the US, and attempts to distort the statements made by Russia,” the diplomat said. “It happens on a daily basis.”

“The best way to overcome disinformation is direct dialogue,” he stressed. Dmitriev reportedly met with Trump’s Middle East envoy, Steve Witkoff, who has been one of the key US negotiators on Ukraine. According to NBC News, the Russian diplomat also met with Republican Senators Lindsey Graham and Markwayne Mullin. According to Dmitriev, the sides mostly discussed steps to gradually amend the cooperation severed by the Biden administration in 2022. The agenda included possible partnership in the Arctic, the development of rare-earth minerals, and the resumption of direct flights between the countries, he said.

Some EU and Ukrainian politicians have attempted to dissuade Trump from restarting negotiations with Moscow. The EU’s top diplomat, Kaja Kallas, claimed last month that “Russia cannot really be trusted.” Ukrainian leader Vladimir Zelensky suggested in February that Trump was trapped in a “disinformation bubble.” Trump has blamed Zelensky for the conflict, while his Ukraine envoy, Keith Kellogg, argued that the EU should be sidelined during negotiations.

Read more …

Cue DOGE.

• House Panels Press Probe of ActBlue Campaign Fundraising Operations (Adams)

Top Republican House leaders have formally requested that ActBlue, one of the Democratic Party’s largest political action committees, turn over documents related to its governance and operations. In a letter dated April 2 to ActBlue President and Chief Executive Officer Regina Wallace-Jones, the chairmen of the House committees on the Judiciary, Oversight and Government Reform, and Administration requested documents and testimony from two employees of the organization. The names of the employees whose testimony was requested were redacted in the version of the letter that was made public. A source familiar with the investigation told The Daily Signal, “We expect ActBlue employees to participate in the transcribed interviews and submit the required documents.” The source explained, “If they fail to comply, all options are on the table.”

An ActBlue spokesperson told The Daily Signal, “As we have historically done, ActBlue will continue to respond to requests from the House committees.” In their letter, the committee chairs said that they were seeking “to investigate ActBlue’s fraud-prevention policies and practices, which may allow bad actors to make fraudulent political donations, including from foreign sources.” ActBlue is one of the largest fundraisers for the Democratic Party, and claims to have raised more than $16.7 billion for Democrats since it was founded in 2004. Prior to the recent turmoil in leadership, it was a widely trusted source for liberal giving. ActBlue has come under increasing scrutiny since it announced a wave of departures of top staff in February. The resignations included the organization’s highest-ranking legal officer, the chief revenue officer, and the assistant research director.

ActBlue has received donations from some of the Democratic Party’s most important fundraisers, including thousands of dollars from LinkedIn co-founder Reid Hoffman. The Daily Signal has previously reported that the group may have received millions of dollars through fraudulent donations, according to testimony from some elderly Americans. One such individual, a retired Yale University professor, testified in a signed affidavit that he believed the donations in his name did not reflect his actual donation frequency or dollar amount. ActBlue charges a 3.95% processing fee on donations to it.

The organization also reportedly locked out Zain Ahmad, the last remaining member of the group’s general counsel’s office as of Feb. 26, from his email and other internal platforms. The letter from the House chairmen highlighted the organization’s actions toward Ahmad, who has been put on leave, and noted that ActBlue’s union reportedly told the group’s board that “those of us who work with our legal team in our day-to-day do not have clear direction on how to proceed with our work in their absence.” The House letter noted that fraudulent political donations “could amount to interstate criminal conduct,” citing a legal case that resulted in a Chinese national’s criminal conviction for improper donations.

Read more …

By Senator Roger Marshall. The idea is that Oz will execute RFK’s MAHA vision.

• Dr. Oz Will Save Medicare, Strengthen Medicaid, Secure a Healthier America (DS)

Medicaid and Medicare are on a path that should concern all Americans, but with the right leadership, we can turn their trajectory around. On its current course, Medicare, the government-run health insurance program for seniors, will fall off a financial cliff in as little as a decade—maybe even sooner. Meanwhile, Medicaid, the program that pays for health care for the poor, now covers more people than Medicare, placing an enormous strain on both state and federal budgets. As a nation, we face a chronic disease epidemic, and along with it, a crisis of unsustainable rising costs, high demand, and worsening patient outcomes. Over the past five years, Medicaid spending has surged by some 50%—another unsustainable trend that diverts funds from schools, roads, bridges, and high-speed internet.

Together, Medicare and Medicaid will each spend roughly a trillion dollars this year. That’s why we urgently need a Centers for Medicare and Medicaid Services administrator who can rescue Medicare and fortify Medicaid. As both programs fall under the Centers for Medicare and Medicaid Services, we need a leader with a fresh perspective—one who prioritizes patient care while ensuring financial stability. This role demands someone who has experienced these programs at the grassroots level, where patients, doctors, and hospitals intersect. This person must be an exceptional communicator, capable of managing a $2 trillion budget and transforming an organization of 6,000 employees who oversee the health needs of 140 million Americans. This budget accounts for nearly a quarter of federal spending in a system that already overspends by $2 trillion annually.

Above all, we need someone who can help us in our mission to Make America Healthy Again. Thankfully, we have just the person for the job: Dr. Mehmet Oz. To America, he’s Dr. Oz: a world-renowned heart surgeon and the trusted star of a hit TV show. Some may also recognize him as an innovative inventor of lifesaving heart devices, holding both an M.D. and an MBA. But to me, Dr. Oz is a fellow physician and a good friend. He’s a devoted father of four and grandfather of four. He’s a person who cares deeply about finding solutions—a problem-solver ready to tackle the challenges of Medicaid and Medicare head-on, focusing on the health and safety of every American and ensuring those who rely on these programs continue to receive the care they deserve.

Dr. Oz is uniquely equipped to modernize health care. He will harness cutting-edge technology and responsibly integrate artificial intelligence to meet patients’ needs. He’ll champion transparency and prioritize quality outcomes over mere quantity of care or coverage. By empowering patients and providers with choices, he’ll drive higher-quality care. He’ll strengthen telehealth and address the distinct challenges of rural communities, along with those of the inner city. Thinking outside the box, he’ll uncover innovative solutions to our health care woes with full transparency.

Put simply, Dr. Oz is the right leader at the right time to execute President Donald Trump’s and Health and Human Services Secretary Robert Kennedy’s vision to Make America Healthy Again. With his expertise, compassion, and bold leadership, he will transform the Centers for Medicare and Medicaid Services into a beacon of fiscal responsibility and patient-centered care. There’s no one better suited to save Medicare, strengthen Medicaid, and secure a healthier future for all Americans. I look forward to his swift confirmation and the work he will do to address our health crisis. With Dr. Oz, Secretary Kennedy, and President Trump at the helm, the best is truly yet to come for our health care system and its patients.

https://twitter.com/Holden_Culotta/status/1907927964131668210

Read more …

Only Israel wants it.

• War With Iran ‘Almost Inevitable’ – France (RT)

A military conflict with Iran would be highly likely if attempts to renegotiate a new nuclear deal fail, French Foreign Minister Jean-Noel Barrot has warned. US President Donald Trump has threatened Tehran with a bombing campaign if it does not concede on its nuclear program, which Washington alleges is aimed at developing atomic weapons. The Iranian government, which vehemently denies the claims, has vowed to retaliate against any attack. Addressing French MPs on Wednesday after an Iran-focused government meeting led by President Emmanuel Macron, Barrot stated that without a new agreement, “a military confrontation would appear almost inevitable,” warning that such a scenario could further destabilize the Middle East.

In 2015, Iran and major world powers signed the Joint Comprehensive Plan of Action (JCPOA) accord which restricted Tehran’s nuclear activities in exchange for sanctions relief. However, in 2017 Trump unilaterally withdrew from the arrangement, which he and Israeli Prime Minister Benjamin Netanyahu labeled “the worst deal ever,” opting instead for a campaign of “maximum pressure” through sanctions. The EU sought to provide Iran with means to bypass American pressure to preserve the JCPOA, but negotiations have since stalled. The standoff has bolstered a hardline foreign policy approach in Tehran, which refused to uphold its commitments in retaliation for Western failure to deliver on its part of the nuclear pact .

Since beginning his second presidential term in January, Trump has repeatedly issued threats of military action unless Tehran agrees to a new nuclear deal. In a recent interview, he stated, “If they don’t make a deal, there will be bombing. And it will be bombing the likes of which they have never seen before.” Iranian Supreme Leader Ayatollah Ali Khamenei defiantly responded to Trump on Monday, warning that the US and Israel “will definitely receive a strong, reciprocal blow” if they attack Iran. Amid the escalating tensions, the Pentagon announced on Tuesday it had deployed additional assets to the Middle East. According to Reuters sources, four B-2 bombers have been relocated to a base on Diego Garcia Island, positioning them for potential missions against Iran.

Read more …

“..the ICC is becoming a political entity rather than an impartial court upholding the rule of law..”

• Hungary to Abandon ICC Over Concerns of Political Bias – Orban (Sp.)

Hungary has decided to withdraw from the International Criminal Court (ICC), as it believes the institution has shifted from an independent judicial body to a politically motivated one in recent years, Hungarian Prime Minister Viktor Orban announced on Thursday. “We are convinced that the ICC is becoming a political entity rather than an impartial court upholding the rule of law. This has been particularly evident in its recent decision regarding Israel,” Orban stated at a press conference alongside Israeli Prime Minister Benjamin Netanyahu. According to Orban, Hungarian Foreign Minister Peter Szijjarto will present a bill to parliament on Thursday, officially initiating Hungary’s withdrawal from the Rome Statute.

Earlier in the day, Orban’s chief of staff, Gergely Gulyas, confirmed that the Hungarian government had made the decision to leave the ICC, with the formal withdrawal process set to begin later on Thursday. The ICC’s disregard for the immunities of heads of state from countries that are not parties to the Rome Statute violates international law and thus undermines the court’s own legitimacy as an independent party in disputes. Moreover, its actions destabilize global security, making it difficult to view the ICC as a body acting on behalf of the international community.

Read more …

 

 

 

 

CO2

 

 

Calley Means
https://twitter.com/VigilantFox/status/1907512164933320833

 

 

Bowden
https://twitter.com/McCulloughFund/status/1907511535078936726

 

 

autism

 

 

Canaia
https://twitter.com/ContrarianTribe/status/1907779479168016572

 

 

Pi
https://twitter.com/gunsnrosesgirl3/status/1907831288691614116

 

 

Car

 

 

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

 

 

 

 

 

Debt Rattle June 13 2021

Jun 132021
 
 June 13, 2021  Posted by at 8:20 am Finance Tagged with: , , , , , , , , ,  51 Responses »


Vincent van Gogh Ravine 1889

 

• Vaccine Euphoria (Hayen)
• If Science Was Never Challenged, We Would Never Make Any Progress (RT)
• So NOW The CDC Will Look? (Denninger)
• Pfizer Vaccine Rubber Stamped, Data Sight Unseen (Doctors for COVID Ethics)
• Covid-19 Has Mutated So Much That Proven Treatments Are Often Failing (RT)
• Greece To Accept All Vaccines For Entry Into The Country (K.)
• Judge Sides With Houston Hospital, Dismisses Claims From Staff Resisters (USAT)
• Deutsche Bank Issues Grim Post-Pandemic Warning For US Economy (RT)
• Bitcoin Is De-dollarization. Ethereum Is DeFi-nancialization (Jeftovic)
• Soviet Collapse Taught Russians The Danger Of Being A Messianic Superpower (RT)
• Boris Yeltsin Had 100 CIA Agents Who Instructed Him How To Run Russia (RT)
• Mark Carney Unveils Dystopian New World To Combat Climate ‘Crisis’ (Foster)
• Republicans Propose Vaccination-By-Mail Program (BBee)

 

 

After Danish soccer player Christian Eriksen had a heart attack on the pitch last night at the Eurocup, the urgent issue should be: was he vaccinated? (he was), and if so, what is the link between the vaccine and the cardiac arrest?

I haven’t seen anyone make the connection thus far, and wonder if anyone will. But what if, g-f forbid, another vaccinated player goes down? With some 800 cases of myocarditis in young men in the US alone, this is a serious risk that requires a serious investigation.

Update: the president of his team, Inter Milan, says he was not vaccinated.

Update 2: a Twitter search for “Inter Milan doctor” appears to indicate Eriksen received his 2nd jab on May 31.

 

 

Confused? Did BBC just say that 50% of the people that died were vaccinated? But, but!???? ‘95% efficacy’, right!?
https://twitter.com/i/status/1403830591301242883

 

 

 

 

“The vaccines have been approved as experimental therapy, nothing more. How many times was it that Edison tested his light bulb before it was successful?”

• Vaccine Euphoria (Hayen)

Before medical technology caught up with our wildest dreams of living forever with no suffering, we had to make do. If a virus came along we were forced to let nature run its course. Before vaccines were discovered with the advent of Dr. Edward Jenner’s incredible work with cowpox, we didn’t have a choice but to grovel at the feet of Mother Nature and let her do her thing. Ultimately it all turned out pretty well; we are still here, aren’t we? — due to, among other things, the miracle of our immune systems. Things are different now, transhumanism is on the rise and is arriving hand in hand with the upcoming technocracy—we may one day actually be able to live forever! Yahoo! Certainly we can fight this war with Covid, with nature, and win the battle — one step closer to conquering nature entirely! We can cheat death, cheat illness, cheat suffering! Pass out the cigars!

What is the price? Humanity? That sounds too close to being ruled by nature — we certainly can give up these “human” things — smiles, touching, hugging, gathering — all things that engage our human bodies, and human hearts. These are things too close to what animals do, with animal bodies, animal instincts. That’s fine to give up, as Fauci says, we should probably never shake hands again — it’s too dangerous being human. Although I would surmise that people who are overly jubilant to get the vaccine do not necessarily believe they are transforming their body to superhuman status due to the gene therapy mechanism in the chemistry of the vaccination (I doubt if most even know what that is), but rather most of them are intrigued by the new technology they have heard it employs.

There is almost nothing in the modern medicine drug pantheon that is 100% effective, safe, or free of side effects, and even though it is clear the Covid vaccines also fall into this disappointment, the general public has indeed been told it is 95% effective and 100% safe (not bothering to be careful to ascertain what exactly it is effective in accomplishing). They are also nearly 100% synthetic, with a synthetic, high tech, mechanism. This view is a predominant one for vaccine lovers created primarily by the bottomless pockets of the manufacturers who spend countless millions in marketing and in successful attempts to show their customers how safe and effective their product is. “Look at how wonderful new technologies can be!” say their targets. “Those scientists are so very clever!”

Yes, technology can be wonderful, and yes, scientists can be very clever. Unfortunately, there have probably been more disasters in the experimental stages of products the big pharmaceutical companies want to market than successes—at least a fair share of them. The vaccines have been approved as experimental therapy, nothing more. How many times was it that Edison tested his light bulb before it was successful? How many times did he think it was going to work after “this one final experiment” — and it didn’t? There is no question that Edison was very clever, but this is the way of science and new discovery, and it always has been. And don’t tell me that mRNA technology has been studied for decades. That doesn’t cut it; Covid-19 had only been with us for about 9 months when the vaccines were rolled out.

Read more …

“I don’t know how a man of such short stature carries such massive arrogance..”

• If Science Was Never Challenged, We Would Never Make Any Progress (RT)

Dr. Anthony Fauci’s recent suggestion that attacks on him are attacks on science itself is nonsensical. His attitude towards criticism is a prime example of scientism, which treats people in scientific fields with undue reverence. There has been an interesting cultural fight within the culture war over science itself. Many people on the political left have a tendency to place scientific method on a pedestal and not consider it for what it is – which is, purely and simply, scientific method. Rather, they treat science as a sort of dogma which cannot be challenged. In a sense, their attitude towards it is not that different from a Christian’s outlook on the Bible. A Christian believes that the Bible is God’s word, and is static and unchanging because of the nature of God himself.

However, the nature of science is not static because our understanding of the world is not static. As such, it’s appalling when someone who wields as much influence and political power as America’s chief medical adviser Dr. Anthony Fauci speaks in a manner that treats science as a dogma. In a recent interview with Chuck Todd on MSNBC, Fauci recently claimed people who are critical of him are “critical of science itself”, which is clearly preposterous. Science is meant to be questioned. If science was not questioned, scientific progress would be impossible because there would be no prevailing attitude that more must be learned. The attitude and belief that science is some sort of monolith is very disconcerting from a societal perspective.

I have great respect for those who spend their time trying to understand our universe one cell and one atom at a time, but Fauci’s stance seems to spit in the face of those people. Ultimately, every person who works in the sciences can only act on what they know, and whether they admit it or not they’ll never know enough. That, surely, is the name of the game. However, Dr. Fauci comes across as if he is the self-declared face of science and that he cannot be questioned for this very reason. Aside from this being wildly untrue, this is a prime example of scientism. It promotes the idea that his diplomas and governmental position make him someone who cannot be questioned, and that his knowledge has elevated him to a place above us mere mortals. As such if you don’t listen to what he says you’re nothing but a troglodyte. I don’t know how a man of such short stature carries such massive arrogance, but he certainly does not speak as if he is someone who has the proper attitude of a scientist.

Read more …

“To be “reported” at all you have to wind up in the hospital or similar, so the presumption that these are “mild” is horsecrap.”

• So NOW The CDC Will Look? (Denninger)

When do we take out the trash? First the FDA “approves” an Alzheimer’s drug that, on the data, does not work — but it sure as Hell is expensive. At least one and perhaps two of their advisors quit over that one. Now the CDC is going to meet on the “extremely rare” myocarditis risk to kids getting tard shots. Extremely rare my ass; you never see if you don’t open your eyes, and given the reports in the news and social media there is no way this is “extremely rare.” How many people have heart attacks every day yet that doesn’t make the news unless they’re a celebrity or somesuch. So when nobodies start being reported on, well, folks, it’s not rare. To be “reported” at all you have to wind up in the hospital or similar, so the presumption that these are “mild” is horsecrap.


Nobody with a bit of discomfort goes to the ER; you go to the ER if you have chest pain, and that’s not minor. The big unknown is whether the damage done in these cases is permanent. Nobody knows. But, I remind you, a grand total of eighteen, more or less, kids have died with Covid all the way back to March of 2020. Now tell me exactly how many of the hundreds of those myocarditis events being reported, and that’s an undercount where Covid was an overcount, are acceptable if they produce permanent damage? If your answer is anything other than zero you’re a ghoul. If you gave these shots to kids, or advised kids to get them, well… you ought to have a problem. A big one. And so should Biden, Trump, all public health departments and every single corporation and social media firm that has been advocating these things for young people.

Read more …

“It is impossible to assess this study fully because 98% of the document was removed in order to protect Pfizer’s intellectual property..”

• Pfizer Vaccine Rubber Stamped, Data Sight Unseen (Doctors for COVID Ethics)

A freedom of information request (FOI) request was made by one of our members in February 2021 to the Australian drugs regulator, the TGA (Therapeutic Good Administration) to ask what should have been simple questions. The TGA is the Australian equivalent of the FDA (US), MHRA (UK) and EMA (Europe) and is held in high regard worldwide. Essentially the FOI questions were: • Did the TGA request the raw data from Pfizer • Did any of the committees approving the vaccine look at the raw data and/or discuss it • What were the “studies” referred to in the approval document relating to teratogenicity (risk of harm to a fetus)

The rationale of the request relates to concern over the validity and verifiability of Pfizer’s data given its legal history (and expressed by Peter Doshi in the BMJ in February) as well as the proven concerns over fraudulent data relating to Covid-19 as seen in the “Lancetgate” scandal of June 2020. The document below is a redacted version of the documents that were sent by the TGA in response to this request. What they show is that the TGA never saw or requested the patient data from Pfizer and simply accepted their reporting of their study as true. This means that when the head of the TGA John Skerritt said that “the safety evidence is pretty thorough” on the 6th February (here) his words would ring hollow to most Australians who have assumed, rightly or wrongly, that the TGA had actually looked at the patient data themselves.

A further concerning aspect of the FOI request is the efforts to which the TGA appeared to go to suppress the request – initially requesting a 6 months extension in view of a “voluminous request” which eventually yielded only one document of 14 pages, heavily redacted. This required an instruction from the Office of the Information Commissioner to the TGA to answer the request by the 26th May, a deadline that the TGA also failed to meet. Eventually the only document that was produced from the FOI request was a heavily redacted single study (not studies, as claimed in the TGA assessment document) showing that the only investigation into the effects on the fetus was performed on 44 rats with no long term data on the offspring. It is impossible to assess this study fully because 98% of the document was removed in order to protect Pfizer’s intellectual property (points 32-44 of the report).

Read more …

Moscow just declared a non-working week with strict curfews.

• Covid-19 Has Mutated So Much That Proven Treatments Are Often Failing (RT)

Covid-19 has mutated significantly, and the virus is now much harder to treat than it used to be. That’s according to the head of Moscow’s Kommunarka Hospital, which last year became the city’s main coronavirus treatment facility. Speaking to Moscow radio station Ekho Moskvy on Thursday, the hospital’s chief physician, Denis Protsenko, who became a household name in 2020 due to his role at the forefront of the country’s battle against Covid-19, explained that it has become much harder to treat ill patients. “There is a feeling that the virus is changing,” Protsenko explained. “The proven methods of treatment for hyperinflammation or, as we call it, cytokine storms, are often failing.”

“This makes us think that the virus has also changed and has mutated in this year and a half,” he said, before encouraging people to get vaccinated against the disease. According to Protsenko, the Kommunarka hospital is now filled with a large number of elderly patients, as well as people who are overweight or diabetic. Furthermore, collective immunity in the capital is still under 50%, he said. On Wednesday, Deputy Moscow Mayor Anastasia Rakova revealed that the city would open up additional hospital beds in the upcoming days, boosting its capacity by 1,500. That announcement came after Mayor Sergey Sobyanin ordered local authorities to ramp up enforcement of sanitary measures, such as the wearing of masks on public transport. However, he also noted that he had no plans to introduce any new lockdowns.

According to the official numbers, Russia recorded 12,505 new cases nationwide on Friday – the highest figure since February 22. The capital is bearing the brunt of the latest wave, with 5,853 new infections detected in just 24 hours – 47% of all cases recorded. Moscow is home to just 10% of the country’s population. However, perhaps most worryingly, Moscow’s coronavirus spread, measured by the so-called R rate, soared to 1.6 in the past 24 hours – the highest seen since September 30 last year.

Read more …

It’s getting silly now, it’s like: as long as it comes out of a needle, you’re good to go.

• Greece To Accept All Vaccines For Entry Into The Country (K.)

All vaccines, even if they have not been approved by the European Medicines Agency, will be accepted by Greece for entry into the country, according to the member of the health committee advising the government on the pandemic. More specifically, speaking during a regular briefing of reporters, Vana Papaevangelou said the decision was taken following a recommendation by the committee. The vaccines that will be accepted are Novavax, Sinovac Biotech, Sputnik V, Sinopharm and CanSino Biologics. Papaevangelou also stressed that tourists will be able to enter from the land border, and that specifications for hotels and ships will be updated, while stating that tourism workers will have to undergo a weekly self-diagnostic test and complete their vaccinations. She sounded the alarm for those people who haven t been vaccinated, noting that 98% of deaths in the last week were people who had not completed their vaccinations.

Read more …

Freeing everyone else to start firing employees for refusing to be guinea pigs.

• Judge Sides With Houston Hospital, Dismisses Claims From Staff Resisters (USAT)

In the first federal ruling on vaccine mandates, a Houston judge Saturday dismissed a lawsuit by hospital employees who declined the COVID-19 shot – a decision that could have a ripple effect across the nation. The case involved Houston Methodist, which was the first hospital system in the country to require that all its employees get vaccinated. U.S. District Judge Lynn N. Hughes said federal law does not prevent employers from issuing that mandate. After months of warnings, Houston Methodist had put more than 170 of its 26,000 employees on unpaid suspension Monday. They were told they would be fired it they weren’t vaccinated by June 21.


The hospital already had made it clear it means what it says: It fired the director of corporate risk – Bob Nevens – and another manager in April when they did not meet the earlier deadline for bosses. In recent weeks, a few other major hospitals have followed Houston Methodist’s lead, including the University of Pennsylvania, University of Louisville, New York Presbyterian and several major hospitals in the Washington, D.C. area. Houston Methodist’s CEO Marc Boom predicts more hospitals soon will join the effort. Many hospitals and employers were waiting for legal clarification before acting. “We can now put this behind us and continue our focus on unparalleled safety, quality, service and innovation,” Boom said after the ruling. “Our employees and physicians made their decisions for our patients, who are always at the center of everything we do.”

Read more …

“..the experts forecast dire impacts from the Federal Reserve’s new framework that supports tolerating higher inflation for the benefit of a full recovery ..”

• Deutsche Bank Issues Grim Post-Pandemic Warning For US Economy (RT)

Further disregarding inflation will push the global economy to a major crisis, according to the latest report issued by Deutsche Bank economists who point the finger at the US money-printing policies. Germany’s largest lender warned that the unprecedented levels of cash being injected into the economy while inflation fears are being dismissed will lead to excruciating economic pain if not in the near term then in 2023 and beyond. The report points to the US’ “breath-taking” monetary stimulus that is reportedly comparable with that seen around World War II. “Then, US deficits remained between 15-30% for four years. While there are many significant differences between the pandemic and WWII we would note that annual inflation was 8.4%, 14.6% and 7.7% in 1946, 1947 and 1948 after the economy normalized and pent-up demand was released,” Deutsche Bank notes.


Moreover, the experts forecast dire impacts from the Federal Reserve’s new framework that supports tolerating higher inflation for the benefit of a full recovery of the country’s economy after the slumber caused by the Covid-19 pandemic. “The consequence of delay will be greater disruption of economic and financial activity than would be otherwise be the case when the Fed does finally act,” Deutsche’s economists wrote in the first report of the new series, titled “Inflation: The defining macro story of this decade.” “In turn, this could create a significant recession and set off a chain of financial distress around the world, particularly in emerging markets,” the report added. According to the bank’s analysts, neglecting inflation leaves global economies “sitting on a time bomb.”

Read more …

“Bitcoin is for when you’re bearish on society and Ethereum is for when you’re bullish”

• Bitcoin Is De-dollarization. Ethereum Is DeFi-nancialization (Jeftovic)

Lately I have been thinking a lot about the difference between Bitcoin and Ethereum while at the same time the world is witnessing the inexorable move to crypto in realtime. Some may question the latter half of that assertion, given that the latest FUD cycle against cryptos has been one of the most intense that I’ve witnessed since getting involved in the space in 2013. Behind the FUD we see actions. We see Russia dumping dollar assets (can you blame them?). We hear Munger making almost childishly uninformed remarks on crypto, yet BRK is investing in one of the world’s most crypto friendly banks. We see El Salvador as the first country in the world to make Bitcoin legal tender. In my mind this has not only sounded the starting gun on de-dollarization in earnest, it goes beyond that. Back in the late 90‘s people like me were about the age of many of the crypto kids today, and we were talking about the Internet Asteroid headed straight at the telecoms and traditional media.

Today, pretty well everybody is aware of Bitcoin. They may have positive or negative opinions on it, but most people are figuring out that it’s here to stay and there is a spectrum of sentiment around that ranging from enthusiasm to denial. But I don’t get the sense that traditional institutional finance sector sees the other asteroid coming, and it’s coming straight at them. Or maybe Ethereum/Bitcoin. Whatever your risk tolerance and investment objectives entail. I’ve been listening to the Bankless podcast lately and in more than one episode they’ve said something about Bitcoin as compared to Ethereum that I think is very helpful. It’s really helped me think about the two in terms of construction of a crypto portfolio. They’ve said, in essence, that Bitcoin is for when you’re bearish on society and Ethereum is for when you’re bullish.

It’s not that I agree with that literally (I don’t), but it really helped me refine the distinction I’ve always had around Bitcoin being the value and Ethereum being the execution in a coming tectonic shift into crypto. In the olden days, bonds and equities had an inverse correlation. Bonds kept your portfolio afloat when the economy hit a soft patch and stocks went down (yes, in the olden days, stocks could experience bear markets, sometimes for months or even years). Conventional wisdom was to have a portfolio mix between equities and bonds, along some rule of thumb like 60/40 adjusted for your age, risk tolerance, etc. We’re headed into a world where Bitcoin and Ethereum will fulfil the roles that bonds and equities did traditionally.

Read more …

“Moscow, he said, “has no superpower ambitions, regardless of how much people try to convince themselves and everyone else otherwise.”

• Soviet Collapse Taught Russians The Danger Of Being A Messianic Superpower (RT)

Russia has none of the “messianic fervor” of Western states such as the US, its foreign minister said this week, as the nations’ leaders prepare to meet. No longer the Third Rome, Moscow is seeking a more modest role in the world. The author Fyodor Dostoevsky had a grand vision for the country. Russia, he believed, would lead the West back to Christ and bring about “universal, spiritual reconciliation.” This it could do, he felt, because its people supposedly had a “capability for high synthesis, a gift for universal reconcilability.” The Russian, Dostoevsky wrote, “gets along with everyone and is accustomed to all. He sympathizes with all that is human, regardless of nationality, blood, and soil.” By contrast, those on the other side of the continent, the novelist added, “find a universal human ideal in themselves and by their own power, and therefore they altogether harm themselves and their cause.”

Russians, in other words, seek to reconcile all, while Westerners believe their own ideals are universal and seek to spread them everywhere. One may justifiably doubt such sweeping generalizations. But as Russia’s president, Vladimir Putin, prepares to meet the leader of the Western world, Joe Biden, next week, these different approaches to the world were on display in Russian and American public rhetoric. First, on the eve of the G7 summit in London, which begins on Friday, the New York Times noted that Biden is casting his trip to Europe “as an effort to rally the United States and its allies in an existential battle between democracy and autocracy.” “We have to discredit those who believe that the age of democracy is over, as some of our fellow nations believe,” the president said. “I believe we’re at an inflection point in world history,” he added.

“A moment where it falls to us to prove that democracies don’t just endure, but will excel as we rise to seize enormous opportunities in the new age.” An altogether different view, however, came from Russia’s foreign minister, Sergey Lavrov. In a riposte to Biden’s assertion that a struggle between Western liberalism and other systems was inevitable, Lavrov declared that Russia had no interest in a competition for ideological or geopolitical domination. Moscow, he said, “has no superpower ambitions, regardless of how much people try to convince themselves and everyone else otherwise.” The top diplomat claimed that the country simply doesn’t “have the messianic fervor with which our Western colleagues are trying to spread their ‘values-based democratic agenda’ throughout the planet. It has long been clear to us that the imposition of a certain development model from the outside does nothing good.”

Read more …

Did they also tell him to appoint Putin?

• Boris Yeltsin Had 100 CIA Agents Who Instructed Him How To Run Russia (RT)

The first Russian president, Boris Yeltsin, was surrounded by “hundreds” of CIA agents who told him what to do throughout his tenure as leader. That’s according to Ruslan Khasbulatov, the former chairman of Russia’s parliament. Speaking to radio station Govorit Moskva, Khasbulatov claimed Yeltsin’s entourage was full of Americans. In 1991, he was elected to his leadership post with Washington’s help, it has been alleged, and it is still not yet known to what extent the US remained the voice in his ear throughout his presidency. “There must have been a hundred [CIA employees],” Khasbulatov said. “They determined everything.” He also added that, after winning the presidential election, Yeltsin would send security officials and heads of departments to the US so the Americans could “examine them” and “give conclusions.”

Khasbulatov’s statement comes after former Russian vice president Alexander Rutskoy told online outlet Lenta that 12 full-time employees of the CIA helped carry out the landmark Yeltsin-Gaidar market reforms, systematically dismantling the centrally planned economic system and leading the country into shock capitalism. Rutskoy also claimed that, on one significant occasion, he overheard Yeltsin speaking to a stranger with a foreign accent. However, according to Khasbulatov, everyone knew about Rutskoy’s links to the US, and American officials even influenced the former president to replace a considerable number of his appointees.

“On the whole, Rutskoy is absolutely right – Yeltsin was advised by foreigners,” he continued. “There is no secret here, and a great number of people know about it. I don’t have any detective stories about eavesdropping, but, in general, it’s well known. Yeltsin used to confer very closely on all personnel matters with foreign representatives.” Yeltsin left office in 1999, but not before creating a hyper-presidential system, taking power away from a hostile parliament, and removing almost all checks and balances. This move was supported by Washington, which hoped to keep the Communist Party out of power in the newly formed Russian state.

Read more …

Carney’s going to claim trillions to save the planet. Few are as dangerous as he is.

• Mark Carney Unveils Dystopian New World To Combat Climate ‘Crisis’ (Foster)

In his book Value(s): Building a Better World for All, Mark Carney, former governor both of the Bank of Canada and the Bank of England, claims that western society is morally rotten, and that it has been corrupted by capitalism, which has brought about a “climate emergency” that threatens life on earth. This, he claims, requires rigid controls on personal freedom, industry and corporate funding. Carney’s views are important because he is UN Special Envoy on Climate Action and Finance. He is also an adviser both to British Prime Minister Boris Johnson on the next big climate conference in Glasgow, and to Canadian Prime Minister Justin Trudeau.

Since the advent of the COVID pandemic, Carney has been front and centre in the promotion of a political agenda known as the “Great Reset,” or the “Green New Deal,” or “Building Back Better.” All are predicated on the claim that COVID, and its disruption of the global economy, provides a once-in-a-lifetime opportunity not just to regulate climate, but to frame a more fair, more diverse, more inclusive, more safe and more woke world. Carney draws inspiration from, among others, Marx, Engels and Lenin, but the agenda he promotes differs from Marxism in two key respects. First, the private sector is not to be expropriated but made a “partner” in reshaping the economy and society. Second, it does not make a promise to make the lives of ordinary people better, but worse.

Carney’s Brave New World will be one of severely constrained choice, less flying, less meat, more inconvenience and more poverty: “Assets will be stranded, used gasoline powered cars will be unsaleable, inefficient properties will be unrentable,” he promises. The agenda’s objectives are in fact already being enforced, not primarily by legislation but by the application of non-governmental — that is, non-democratic — pressure on the corporate sector via the ever-expanding dictates of ESG (environmental, social and corporate governance) and by “sustainable finance,” which is designed to starve non-compliant companies of funds, thus rendering them, as Carney puts it, “climate roadkill.” What ESG actually represents is corporate ideological compulsion. It is a key instrument of “stakeholder capitalism.”

Carney’s Agenda is promoted by the United Nations and other international bureaucracies and a vast and ever-growing array of non-governmental organizations and fora, especially the World Economic Forum (WEF), where Carney is a trustee. Also, perhaps most surprisingly, by its corporate victims. No one wants to become climate roadkill. Carney clearly feels himself to be a man of destiny. “When I worked at the Bank of England,” he writes in Value(s), “I would remind myself each morning of Marcus Aurelius’ phrase ‘arise to do the work of humankind’.” One is reminded of French aristocrat and social reformer Henri de Saint-Simon, the “grand seigneur sans-culotte,” who ordered his valet to wake him with similar words: “Remember, monsieur le comte, that you have great things to do.”

Read more …

“Best of all, nobody will be subjected to any racist ID checks!”

• Republicans Propose Vaccination-By-Mail Program (BBee)

As COVID vaccine delivery continues to decline nationwide, Republican leaders have proposed a radical solution: a vaccination-by-mail program to cover all Americans. “Since voting by mail went so smoothly last year, we wanted to apply those same principles to our COVID vaccination program,” said Senator Mitch McConnell. “Mail-in vaccines will ensure that we have the most secure vaccination process in American history!” The Republican proposal is simple: every American will automatically receive a pre-loaded syringe in the mail, along with a COVID vaccine card. Individuals will then self-administer the vaccine and self-report their vaccination status, all from the comfort of their own homes.

“Everyone will be able to receive the vaccine without having to miss work to travel to a vaccination site where they will wait in line for hours,” McConnell noted. “Best of all, nobody will be subjected to any racist ID checks!” Democrats were quick to criticize the proposal, saying a self-reported mail-in vaccine program was ripe for fraud and dishonesty. McConnell quickly dispelled those notions, saying they were nothing more than a transparent attempt to disenfranchise Republicans from getting vaccinated.

Read more …

 

We try to run the Automatic Earth on donations. Since ad revenue has collapsed, you are now not just a reader, but an integral part of the process that builds this site. Thank you for your support.

 

 

 

 

G7 – Who does this?

 

 

Support the Automatic Earth in virustime. Click at the top of the sidebars to donate with Paypal and Patreon.

 

Debt Rattle December 30 2019

Dec 302019
 
 December 30, 2019  Posted by at 10:15 am Finance Tagged with: , , , , , , , , , , ,  12 Responses »


Dorothea Lange Salvation Army, San Francisco, California. Unemployed young men 1939

 

• Firms Must Justify Investment In Fossil Fuels, Warns Mark Carney (G.)
• Bank of England Chief Mark Carney Issues Climate Change Warning (BBC)
• Security Experts Rip Into OPCW’s ‘Douma Chemical Attack’ Probe (RT)
• Pension Funds With $680 Billion Finally Find Their Missing Link (BBG)
• Bank of America: Trend For 2020s Will be the “End of Globalization” (PJW)
• Britons Paying 40% More For Energy Than In 2015 (G.)
• Spain Pulled Into Diplomatic Spat Between Bolivia, Mexico (AP)
• Schiff Goes for Total Coup, Now Targeting Pence (WJ)
• Russiagate Investigation Now Endangers Obama (Zuesse)
• Vladimir Putin Thanks Donald Trump For Tip That Foiled Terror Plot (G.)
• After US Strike On Iraqi Forces Its Troops Will -Again- Have To Leave (MoA)

 

 

I must have missed that Carney was named UN special envoy for climate change and finance. Hilarious. Just over 3 years ago, I wrote about his delusional ideas in Heal the Planet for Profit , after Mark Carney and Michael Bloomberg published How To Make A Profit From Defeating Climate Change.

Billionaires and their lackeys will not solve climate change. Which is why Carney should not have a UN role, just like Great Thunberg should never have gone to Davos, or get involved with COP25. It’s simply not where things happen. By falling into these traps, she’s failing her own ideals, and those of her followers.

• Firms Must Justify Investment In Fossil Fuels, Warns Mark Carney (G.)

The outgoing governor of the Bank of England, Mark Carney, has said all companies and financial institutions must justify their continued investment in fossil fuels, and warned that assets in the sector could end up “worthless”. In an interview with BBC Radio 4’s Today programme being broadcast on Monday, Carney said that although the financial sector was starting to cut back on investment in oil and gas companies, the process was not moving quickly enough. Carney, who will focus on his new role as UN special envoy for climate change and finance after he steps down from the governorship in the new year, agreed to appear on the programme for an edition edited by the climate crisis campaigner Greta Thunberg, one of several guest editors on Today over the holiday period.

Carney has been one of the most vocal central bank governors on the need for the financial sector to do more to transition towards a zero-carbon economy. He told the programme that the climate crisis was a “tragedy on the horizon” and that more extreme weather events were inevitable. “By the time that the extreme events become so prevalent and so obvious, it will be too late to do anything about it,” he said. Political leaders had to “start addressing future problems today” On the issue of whether investors should be divesting from companies in the fossil fuel sector, Carney said fund managers would “have to make the judgment and justify to the people whose money it ultimately is”.

When pressed on whether pension funds should divest from oil and gas companies even if the returns were attractive, he replied: “Well that hasn’t been the case but they could make that argument. They need to make the argument, to be clear about why is that going to be the case if a substantial proportion of those assets are going to be worthless.” He warned: “If we were to burn all those oil and gases, there’s no way we would meet carbon budgets. Up to 80% of coal assets will be stranded, [and] up to half of developed oil reserves. A question for every company, every financial institution, every asset manager, pension fund or insurer: what’s your plan?

Read more …

Carney’s next move will be a $50 trillion fund paid for by taxpayers that will buy turbines and solar from trillion-dollar multinationals.

• Bank of England Chief Mark Carney Issues Climate Change Warning (BBC)

The world will face irreversible heating unless firms shift their priorities soon, the outgoing head of the Bank of England has told the BBC. Mark Carney said the financial sector had begun to curb investment in fossil fuels – but far too slowly. He said leading pension fund analysis “is that if you add up the policies of all of companies out there, they are consistent with warming of 3.7-3.8C”. Mr Carney made the comments in a pre-recorded BBC Radio 4 Today interview. He added that the rise of almost 4C was “far above the 1.5 degrees that the people say they want and governments are demanding”. Scientists say the risks associated with an increase of 4C include a nine metre rise in sea levels – affecting up to 760 million people – searing heatwaves and droughts, and serious food supply problems.

Mr Carney, who will next year start his new role as United Nations special envoy for climate action and finance, continued: “The concern is whether we will spend another decade doing worthy things but not enough… and we will blow through the 1.5C mark very quickly. As a consequence, the climate will stabilise at the much higher level.” Speaking to the Today programme, he re-iterated his warning that unless firms woke up to what he called the climate crisis, many of their assets would become worthless. “If we were to burn all those oil and gas [reserves], there’s no way we would meet carbon budget,” he said. “Up to 80% of coal assets will be stranded, [and] up to half of developed oil reserves.

[..] Climate campaigners Extinction Rebellion question whether the capitalist system can halt climate change. Mr Carney said capitalism had a vital role in raising funding for clean technologies. But he added that it had to be tempered by government-imposed incentives, rules and prohibitions of the most damaging activities. Climate change was what he called a “tragedy of the horizon”, because the decision-making time horizon of investment managers is between two and 10 years. “In those horizons there will be more extreme weather events, but by the time that the extreme events become so prevalent and so obvious it’s too late to do anything about it,” he said.

Read more …

How far we’ve fallen: OPCW, White Helmets and Bellingcat have all been fully discredited by now (Douma, Skripal, MH17), but the former “all the news that’s fit to print” media completely ignore this. And so we’ll keep hearing more from them.

• Security Experts Rip Into OPCW’s ‘Douma Chemical Attack’ Probe (RT)

Documents published by WikiLeaks that suggest a cover-up of inconvenient facts about the Douma, Syria chemical attack investigation raise serious questions about the OPCW, security experts, scholars and diplomats tell RT. The US, UK and France launched missile strikes against Syria in April 2018, after ‘White Helmets’ and jihadist rebels accused the government of a chemical attack in the town of Douma. The Organisation for the Prohibition of Chemical Weapons eventually published a report saying its investigators may have found traces of chlorine, which was trumpeted as proof of the accusations in mainstream Western media. Emails published by WikiLeaks on Friday, however, show that a senior OPCW official ordered to “remove all traces” of the engineering assessment questioning the report’s conclusions.

Moreover, the observations by toxicologists who ruled out exposure to chlorine or any other chemical weapon could have caused the symptoms shown on White Helmets videos were likewise buried. “It’s difficult to look at that email exchange without thinking at least there’s a whiff of a coverup,” security analyst Charles Shoebridge told RT, adding that the documents show the OPCW has been “subverted and led astray.” While the experts seem to have done their job honorably and properly, it looks like the OPCW officials twisted and manipulated their work to fit the pre-ordained narrative, on behalf of the countries that carried out the strikes, and have been backing the militants in Syria against the government in Damascus.

The OPCW “right now looks awful,” Max Abrahms, a scholar at the Quincy Institute, told RT. “They have a lot of explaining to do.” US officials seem to have pressured the OPCW to find the Syrian military responsible for the alleged chemical attack “regardless of what the actual scientists on the ground discovered,” according to Abrahms. It is notable that the US, UK and France launched their missile strikes before the OPCW investigators even reached Douma. The final report, published in March 2019, provided an after-the-fact rationalization for the attack. The bigger problem, Machon points out, is that the OPCW suppressing evidence means that the chemical weapons watchdog is no longer credible. If they can’t be trusted about Douma, why should they be trusted about, say, the use of “novichok” in Salisbury just weeks before that incident?

Read more …

Oh sure, pension funds will be rescued by a 30-year bond. Everybody rich!

• Pension Funds With $680 Billion Finally Find Their Missing Link (BBG)

In Denmark, where institutional investors have been living with negative interest rates longer than anyone else, the authorities just took a big step. Danish pension funds, the world’s best managed along with their Dutch peers, will finally get a 30-year government bond. When it starts trading next year, funds managing a total of $680 billion in assets will get the missing link they’ve long needed: a long-term, AAA-rated asset at a positive yield. That’s quite a novelty these days. The new bond will give the industry a “crucial point on the curve,” said Christian Lage, chief executive officer of PFA Asset Management, which is a unit inside Denmark’s biggest commercial pension fund in Copenhagen. “We’re following it closely,” he said in an interview.

“Not only with regards to what extent we want to invest in it, but also how it’s being priced. It has an impact on a lot of different things when we price long-term exposures.” Denmark’s central bank first cut its benchmark rate below zero in mid-2012. Almost eight years later, the county has had negative rates longer than any other place on Earth. The distortions wrought by a policy intended to keep the krone fixed to the euro are particularly pronounced in the pension industry. The art of generating long-term, stable returns so Danes can retire comfortably has become increasingly difficult. Pretty much everything safe generates a negative yield. Assets that generate positive yields tend to come with a good deal more risk.

The Danish debt office, which is a unit inside the central bank, hasn’t issued a 30-year bond since 2008. That’s forced pension funds to extrapolate a key anchor point in the interest rate curve that helps them determine the value of both assets and liabilities. Not having a real number at the 30-year point was problematic. The calculations used could muddy price-setting, particularly given the uncertainty of how and when central banks might extricate themselves from negative rates. Lage says that “what is a bit hard for the industry is that, if the interest rate curve – the govvie curve – ends at a 20-year point, what is the fair price for a 30-year asset?”

Read more …

There’s a lot more profit in selling arms to dozens of different countries than there is in selling them to alliances.

• Bank of America: Trend For 2020s Will be the “End of Globalization” (PJW)

Bank of America says that one of the dominant trends for the 2020s will be the “end of globalization” as countries increasingly realize that the phenomenon has brought unsustainable “social disruption.” In a report mapping out what to expect over the next decade, BofA analysts said that largely unchecked globalization, which ran roughly from 1981-2016, “is coming to an end.” This change will take place due to “the widespread recognition that while globalization has meant lower consumer prices, it has also meant slower growth, precarious employment and social disruption.” This massive shift will make commodities like precious metals and real estate safer investment because governments will move to impose protectionist economic policies.


“Countries will develop explicit national industrial policies and boost spending on R&D to foster local innovation, protect nascent industries, and shield national champions from hostile foreign takeovers,” the analysts said. The transhumanist pursuit of “immortality” will also come to the fore in the next decade, as will a new tech arms race between the U.S. and China, dubbed the “Splinternet.” China will eventually win the race, allowing Beijing “to reach national superiority in technology over the long term vis-a-vis Quantum Computing, Big Data, 5G, Artificial Intelligence, Electric Vehicles, Robotics, and Cybersecurity.” “Ubiquitous connectivity” will also change the fabric of society, according to the report, with the ‘Internet of things’ embedded into virtually every new physical product, a development that critics argue will create an omnipresent Minority Report-style mass surveillance grid.

Read more …

And then voted for the people who made it possible.

• Britons Paying 40% More For Energy Than In 2015 (G.)

Energy bills have risen by 40% in five years, taking average UK household costs up to a record of £2,707 a year, research has revealed. Comparethemarket’s study examined the costs of energy, home and motor insurance since 2015, and found that gas and electricity price increases were largely responsible for this year’s changes. The analysis says financial pressures have worsened despite the energy price cap introduced at the beginning of 2019. Dual fuel bills now cost an average of £1,813 a year, a 40% hike from £1,289 in 2015. The cap has led to many providers, particularly the big six – British Gas, EDF Energy, E.ON UK, npower, Scottish Power and SSE – raising their prices.


The annual report did not examine the costs of broadband, mobile or TV services, which also involve heavy outlays. Simon McCulloch of comparethemarket.com said: “A lot of attention during the general election was devoted to financial difficulties that many people face around the UK. “These statistics are a stark reminder of not only the high cost of essential services, but of the huge increases that have been seen in the past few years. The average cost of energy, motor and home insurance is now £675 higher than 2015 – far above the rate of inflation.”

Read more …

Bolivia shares quite a few similarities with Ukraine.

• Spain Pulled Into Diplomatic Spat Between Bolivia, Mexico (AP)

A tense diplomatic feud between Bolivia’s conservative interim government and Mexico expanded to include Spain on Friday when a confrontation broke out as Spanish diplomats visited the Mexican ambassador’s residence in La Paz, where members of the ousted leftist government have taken refuge. Bolivian Foreign Minister Karen Longaric complained that Spanish diplomats were accompanied by masked and armed men on a visit to the residence, calling that an abuse of Bolivia’s sovereignty. She said a protest would be lodged with the EU, UN and Organization of American States. Television stations broadcast images of a masked person getting out of a Spanish diplomatic vehicle and exchanging words with local police.

Civilians then approached and began attacking the car, shouting that there could be an attempt to free nine officials sheltered inside. The interim government already has been feuding with Mexico, which not only gave refuge to the nine, but also sheltered ousted leader Evo Morales when he resigned the presidency on Nov. 10 after losing the support of the military and police following days of turbulent protests over alleged fraud in his reelection bid. Bolivian officials accuse several of those inside the embassy of electoral fraud as well as sedition and terrorism for their alleged role in protests that followed Morales’ ouster.

Mexico’s Foreign Relations Department said the incident came as police intercepted Spanish embassy vehicles that were returning to the Mexican mission to pick up the ranking Spanish diplomat, who had made a “courtesy visit” to the Mexican ambassador. It said a Mexican diplomat in the car was also briefly detained but was allowed to pass after showing identification. Spain’s Ministry of Foreign Affairs said later it would investigate the incident. Spanish diplomats in their own country are sometime accompanied by bodyguards wearing masks to protect their identities as a security measure, though it wasn’t immediately clear if that was the case here.

Read more …

They guy’s a broken record: “..overwhelming and damning evidence..”

• Schiff Goes for Total Coup, Now Targeting Pence (WJ)

It’s beginning to look like Rep. Adam Schiff isn’t content with simply ousting the president, instead hinting that he’s going for a total sweep of the White House by involving the vice president as well. The move would seemingly put his ally and fellow California Democrat, House Speaker Nancy Pelosi, in charge of the United States. The chairman of the House Intelligence Committee hinted at the bombshell turn in a Dec. 18 talk with MSNBC’s Rachel Maddow. Maddow asked Schiff about his continuing role in the impeachment of President Donald Trump. “You seem to still be pulling on some threads here, including some potentially provocative and consequential ones,” she said. “I’m thinking specifically about a letter that you sent to the vice president’s office this week in which you raise questions as to what the vice president knew about the president’s behavior, the president’s scheme in Ukraine, and thereby essentially his potential involvement in any coverup of that behavior by the president.


“Are you actively looking at Vice President Mike Pence and his role in this scandal, and should we expect further revelations either related to the vice president or related to the other core parts of these allegations that have resulted in this impeachment tonight?” Schiff, in his usual habit of claiming to have overwhelming and damning evidence against his political enemies, said he now has something on Vice President Mike Pence. “We have acquired a piece of evidence,” he said, “a classified submission by [Pence aide] Jennifer Williams, something that she alluded to in her open testimony that, in going back and looking through her records, she found other information that was pertinent to that phone call that we had asked her about and made that submission. … “That submission does shed light on the vice president’s knowledge.”

Read more …

A DNC investigation would seem timely.

• Russiagate Investigation Now Endangers Obama (Zuesse)

Comey would be expected to have been highly motivated to oppose Mr. Trump, because Trump publicly questioned whether NATO (the main international selling-arm for America’s ‘defense’-contractors) should continue to exist, and also because Comey’s entire career had been in the service of America’s Military-Industrial Complex, which is the reason why Comey’s main lifetime income has been the tens of millions of dollars he has received via the revolving door between his serving the federal Government and his serving firms such as Lockheed Martin. For these people, restoring, and intensifying, and keeping up, the Cold War, is a very profitable business. It’s called by some “the Military-Industrial Complex,” and by others “the Deep State,” but by any name it is simply agents of the billionaires who own and control US-based international corporations, such as General Dynamics and Chevron.

As a governmental official, making decisions that are in the long-term interests of those investors is the likeliest way to become wealthy. Consequently, Comey would have been benefitting himself, and other high officials of the Obama Administration, by sabotaging Trump’s campaign, and by weakening Trump’s Presidency in the event that he would become elected. Plus, of course, Comey would have been benefitting Obama himself. Not only was Trump constantly condemning Obama, but Obama had appointed to lead the Democratic National Committee during the 2016 Presidential primaries, Debbie Wasserman Schultz, who as early as 20 February 2007 had endorsed Hillary Clinton for President in the Democratic Party primaries, so that Shultz was one of the earliest supporters of Clinton against even Obama himself.

In other words, Obama had appointed Shultz in order to increase the odds that Clinton — not Sanders— would become the nominee in 2016 to continue on and protect his own Presidential legacy. Furthermore, on 28 July 2016, Schultz became forced to resign from her leadership of the DNC after WikiLeaks released emails indicating that Schultz and other members of the DNC staff had exercised bias against Bernie Sanders and in favor of Hillary Clinton during the 2016 Democratic primaries — which favoritism had been the reason why Obama had appointed Shultz to that post to begin with.

Read more …

Five Alarm! He’s talking to his puppet master! Also, what are the odds the CIA has supported these planned terror attacks?

• Vladimir Putin Thanks Donald Trump For Tip That Foiled Terror Plot (G.)

Russia said it had thwarted terror attacks reportedly planned in St Petersburg as the result of a tip from Washington, as President Vladimir Putin personally thanked his US counterpart Donald Trump. Russian news agencies cited the Federal Security Service (FSB) as saying that as a result of the information, two Russians had been detained on 27 December on suspicion of plotting attacks during new year festivities in St Petersburg. The Kremlin said Putin passed on his gratitude to Trump for the tip from US special services during a phone call on Sunday. It gave no further details.


Diplomatic ties between Washington and Moscow are fraught over disagreements concerning Ukraine and Syria and allegations of Russian meddling in the US presidential election, but Trump and Putin have kept personal lines of communication open. Two years ago, the Russian leader phoned Trump to thank him for a tip that Russia said had helped prevent a bomb attack on a cathedral in St Petersburg. Russia has repeatedly been the target of attacks by militant groups including Isis. The Kremlin said in a statement that Putin and Trump had agreed to continue bilateral cooperation to tackle terrorism.

Read more …

How Washington celebrates New Year’s.

• After US Strike On Iraqi Forces Its Troops Will -Again- Have To Leave (MoA)

Within Syria @WithinSyriaBlog – 17:43 UTC · Dec 29, 2019: “Trump just made the mistake of his presidency.” That may be true or may be not true. Here is what happened. On Friday a volley of some 30 107mm Katyusha rockets hit the K1 base which houses Iraqi and U.S. troops near Kirkuk, Iraq. One U.S. mercenary/contractor died, two Iraqi and four U.S. soldiers were wounded. Instead of finding the real culprits – ISIS remnants, disgruntled locals, Kurds who want to regain control over Kirkuk – the U.S. decided that Kata’ib Hizbullah was the group guilty of the attack.

Kata’ib Hizbullah is a mostly Shia group with some relations to Iran. It is part of the Popular Mobilization Units (PMU) which were founded and trained by Iran to stop and defeat the Islamic State (ISIS) when it occupied nearly a third of Iraq and Syria. KH is like all PMU units now under command and control of the Iraqi Ministry of Defense. To take revenge for the death of one of its mercenaries the U.S. air force attacked five camps where Kata’ib Hizbullah and other Iraqi forces were stationed:

“In response to repeated Kata’ib Hizbollah (KH) attacks on Iraqi bases that host Operation Inherent Resolve (OIR) coalition forces, U.S. forces have conducted precision defensive strikes against five KH facilities in Iraq and Syria that will degrade KH’s ability to conduct future attacks against OIR coalition forces. The five targets include three KH locations in Iraq and two in Syria. These locations included weapon storage facilities and command and control locations that KH uses to plan and execute attacks on OIR coalition forces.” All of the KH positions that were hit were in the western Anbar desert on both sides of the Iraqi-Syrian border where KH is engaged in fighting the still active ISIS. The results of the air strikes were devastating:

Elijah J. Magnier @ejmalrai – 6:20 UTC · Dec 30, 2019: “32 killed and 45 wounded the count of #US violent aggression on #Iraq security forces brigades 45 and 46 last night on a military position established to counter-attack and raid #ISIS remnant at al-Qaem, the borders between Iraq and Syria.” The al-Qaem border station is the only open one between Iraq and Syria which is not under U.S. control. The U.S. was furious when the Iraqi prime minister Adil Abdul Mahdi allowed it to be established. It was previously attacked by Israel which had launched its assault from a U.S. air force base in east Syria.

Read more …

 

Branch manager and assistant branch manager

 

 

 

Please put the Automatic Earth on your 2020 charity list. Support us on Paypal and Patreon.

Top of the page, left and right sidebars. Thank you.

 

Globalization Just Peaked

Aug 262019
 
 August 26, 2019  Posted by at 1:56 pm Primers Tagged with: , , , , , , , , , ,  9 Responses »


Joan Miro The farmer’s wife 1923

 

In Jackson Hole on Friday, Bank of England’s outgoing governor Mark Carney talked about a Synthetic Hegemonic Currency (SHC) that the world ‘must’ create, and I thought: that sounds as creepy as anything Halloween. Now, Carney is a central banker as well as a former Giant Squid partner, hence a certified cultist, but still.

He even mentioned Facebook’s Libra ‘currency’ as some sort of example for something that should replace the US dollar internationally. And that replacement is allegedly needed because countries are hoarding dollars. And/or “protecting themselves by racking up enormous piles of dollar-denominated debt.” Whichever comes first, I guess?!

I’ve read quite a few comments on Carney’s speech, but far as I’ve seen they all ignore one aspect of it: the current shape and form of globalization. See, Carney can see only one thing: more centralization, more things moving more in the same direction. Remember, he’s the man who with Michael Bloomberg in 2016 wrote “How To Make A Profit From Defeating Climate Change”. Aka things are worth doing only if they make you richer.

It’s a state of mind that works fine when you’re inside a system and an echo chamber, when you’re a central banker or a corporate banker. But there’s nothing that indicates it’s a useful state of mind when the system you’re serving must undergo change. What is as true when it comes to climate change as it is for changing the entire global economy. Carney’s got blinders on.

 

World Needs To End Risky Reliance On US Dollar: BoE’s Carney

Carney [..] said the problems in the financial system were encouraging protectionist and populist policies. [..] Carney warned that very low equilibrium interest rates had in the past coincided with wars, financial crises and abrupt changes in the banking system. As a first step to reorder the world’s financial system, countries could triple the resources of the IMF to $3 trillion as a better alternative to countries protecting themselves by racking up enormous piles of dollar-denominated debt.

In other words, to reorder the world’s financial system, you must put a ton of money into a fund that has served (and failed) to uphold the old system. Really?

“While such concerted efforts can improve the functioning of the current system, ultimately a multi-polar global economy requires a new IMFS (international monetary and financial system) to realize its full potential,” Carney said. China’s yuan represented the most likely candidate to become a reserve currency to match the dollar, but it still had a long way to go before it was ready. The best solution would be a diversified multi-polar financial system, something that could be provided by technology, Carney said.

There is no doubt that the present system is a little off balance, that the USD’s role in the financial system is way bigger then America’s share of global trade. But the yuan is completely unfit as a reserve currency because it’s not freely traded. And whether “technology” could “provide a diversified multi-polar financial system” (quite the statement) is very much in question. Perhaps that is true in theory, but Carney’s claims are not only about theory -anymore-.

Facebook’s Libra was the most high-profile proposed digital currency to date but it faced a host of fundamental issues that it had yet to address. “As a consequence, it is an open question whether such a new Synthetic Hegemonic Currency (SHC) would be best provided by the public sector, perhaps through a network of central bank digital currencies,” Carney said.

 

The most fundamental issue about Libra would appear to be that it doesn’t exist. Then there are a whole slew of other issues, like why should Facebook and its partners play any role at all in finance. Because they’re such benign enterprises who focus on guarding your privacy? Why Carney would present it as a potential ‘solution’ is totally unclear, other than Libra is something that could fit inside his echo chamber.

I’m still nervous about crypto, too many things still go wrong, too many thefts, too many things too many people don’t understand. But I would support Bitcoin over Carney’s “network of central bank digital currencies” any day. Because that’s the creepiness of this “Synthetic Hegemonic Currency” in all its infamy.

Carney and his echo chamber banker mates seek control, we get it. But that doesn’t mean we want them to have it. Look at the present system, which they created, and the failure of which necessitates the creation of yet another system. And then they want to control that one too?

 

But that’s still all a bit of a sideshow. I’m thinking Carney is not just wearing blinders, he’s simple too late. The globalization that his proposals might serve is already past its peak. He may not be able to see beyond it, but we should.

Globalization is a process, it’s something that moves, it can’t stand still. And now that it’s fully reached China, there’s nowhere else for it to go. Sure, there are some smaller countries that might be willing to produce at even lower prices, like Vietnam or Cambodia, but they could never do it at the same scale as China has.

The same goes for Africa. Moving the entire manufacturing capacity to Africa that was transferred from the west to China starting 20-30 years ago, would be such a logistical nightmare nobody would seriously consider it, And so we have come to a standstill. Globalization can no longer move, because it has nowhere to move to. The world is as fully globalized as it ever will be. But globalization is a process.

Perhaps counterintuitively, the only thing it can really do is to move back. For a number of different reasons, I think that’s exactly what will happen. And I don’t think that’s all that bad. Trump is of course already preparing part of that move with his tariffs war. But it can, and I’m quite sure will, go much further.

If globalization only means, and is restricted to, the transfer of manufacturing anything and everything from the US and Europe to China, and that’s what it appears to mean, the drawback for the former(s) is painfully obvious. So is the one for the planet.

 

It may make sense to produce high end products, like intricate complex electronics, in one location in the world, but why on earth should China produce our underwear? Yeah, they can do it cheaper, sure, but the main effect of that is it kills our jobs. The narrative about this over the past few decades has been that we were building a ‘knowledge economy’ or a ‘service economy’, but that’s a whole lot of BS.

Not only do we now depend on China to make our underwear, all those panties and shorts and shirts have to be hauled halfway across the planet by fossil-fuel-powered behemoth container ships. While we could make them right where we live, pay people a living wage to do it, and lower pollution in the process. Not a hard choice, even if your boxers would cost a dollar more.

And whether you worry about the planet and climate and species extinction or not, enough people do to make it an ever growing factor in decision making on these topics. And there’s more. Henry Ford understood it: people must be paid enough to afford your products if your business is to be successful. The whole “globalization” towards lower wage countries has not only lowered prices in the US and Europe, but also wages.

And that in turn has opened the way towards higher pay for executives, higher stock prices and dividends etc., in other words towards more inequality. Very few people understand the mechanics that drive this, but more of them will and must as their wages become the same as those in China.

 

So anyway, Mark Carney’s grand Synthetic Hegemonic plans are too little too late. Not that that will keep him from blabbing about them, he represents the ruling classes after all, which are doing just fine and would like to be doing even finer. But even he, and they, cannot deny that globalization is like a shark that dies when it can no longer move. Scary movie title: Globalization Never Sleeps…

And Trump plays his role in this just dandy. Not that he’s the smartest guy around, far from it, but he does recognize how globalization hurts America. And that China, a third world country not long ago, is now perhaps the world’s largest economy and will have to be subject to entirely different rules and scrutiny than in, say, 1980.

China must open up its economy to US and EU products, or the latter must close theirs to what China produces. That’s what the trade war, and/or the currency war, the whole enchilada, is about. And perhaps it needed an elephant like Trump to say it, but that’s not important. The entire world economy has reached the limits of its lopsided-ness , and the imbalance must be fixed. Simple stuff.

I’ve been using underwear as an example, but we all know -or we could- how much of what we purchase daily comes from China. Well, that, too, like globalization, and because of it, has reached its peak. We will make our own underwear again. It that a bad thing? How? Henry Ford would have understood it is not, even if he might have been the first to move his production lines to Shenzhen if he would have had the option.

Ford understood the link between prices and wages, but that knowledge appears to be gone. Except perhaps in China, but their model relies exclusively on exports and that can’t last either. Ford sought to sell his cars to his own workers. Which is just about the very opposite of what today’s financial elites are after, and why Carney wants a -belated- Synthetic Hegemonic Currency.

See the point? I predict Carney and his ilk will propose a cloud-based world currency soon, ‘guaranteed’ by -probably- the IMF’s Special Drawing Rights (SDR), but that is totally unfit for the role they have in mind.

Because you don’t need such a currency to pay for the underwear that’s produced by your neighbors just down the road. You only need it for the underwear that comes from China.

 

 

 

 

Debt Rattle August 24 2019

Aug 242019
 
 August 24, 2019  Posted by at 9:25 am Finance Tagged with: , , , , , , , , , , , ,  9 Responses »


Frank Walton Crows on a beach 1884

 

• World Needs To End Risky Reliance On US Dollar: BoE’s Carney (R.)
• China Strikes Back At US With New Tariffs On $75 Billion In Goods (R.)
• Trump Heaps Another 5% Tariff On Chinese Goods In Latest Escalation (R.)
• Majority Of Americans Don’t Want Trump Impeached, Removed From Office (USAT)
• CNN Hires Former FBI #2 Andy McCabe, Who Was Fired For Leaking And Lying (ZH)
• Genesis and Evolution of the Jeffrey Epstein-Bill Clinton Relationship (Webb)
• Bill Barr And Bill Clinton (Webb)
• Long Before Epstein: Sex Traffickers & Spy Agencies (Vos)
• Psychologist Approved Jeffrey Epstein’s Removal From Suicide Watch (R.)
• France Launches Rape Inquiry in Jeffrey Epstein Case (BBC)
• Lost at Sea (Kunstler)
• Tulsi Gabbard Victimized by DNC’s Dubious Debate Criteria (Tracey)

 

 

“Synthetic Hegemonic Currency” sounds creepy to me.

• World Needs To End Risky Reliance On US Dollar: BoE’s Carney (R.)

Bank of England Governor Mark Carney took aim at the U.S. dollar’s “destabilizing” role in the world economy on Friday and said central banks might need to join together to create their own replacement reserve currency. The dollar’s dominance of the global financial system increased the risks of a liquidity trap of ultra-low interest rates and weak growth, Carney told central bankers from around the world gathered in Jackson Hole, Wyoming, in the United States. “While the world economy is being reordered, the U.S. dollar remains as important as when Bretton Woods collapsed,” Carney said, referring to the end of the dollar’s peg to gold in the early 1970s. Emerging economies had increased their share of global activity to 60% from around 45% before the financial crisis a decade ago, Carney said.

But the dollar was still used for at least half of international trade invoices – five times more than the United States’ share of world goods imports – fuelling demand for U.S. assets and exposing many countries to damaging spillovers from swings in the U.S. economy. Carney – who was considered a candidate to be the next head of the International Monetary Fund but failed to secure backing from Europe’s governments – said the problems in financial system were encouraging protectionist and populist policies. [..] Carney warned that very low equilibrium interest rates had in the past coincided with wars, financial crises and abrupt changes in the banking system. As a first step to reorder the world’s financial system, countries could triple the resources of the IMF to $3 trillion as a better alternative to countries protecting themselves by racking up enormous piles of dollar-denominated debt.

“While such concerted efforts can improve the functioning of the current system, ultimately a multi-polar global economy requires a new IMFS (international monetary and financial system) to realize its full potential,” Carney said. China’s yuan represented the most likely candidate to become a reserve currency to match the dollar, but it still had a long way to go before it was ready. The best solution would be a diversified multi-polar financial system, something that could be provided by technology, Carney said. Facebook’s Libra was the most high-profile proposed digital currency to date but it faced a host of fundamental issues that it had yet to address. “As a consequence, it is an open question whether such a new Synthetic Hegemonic Currency (SHC) would be best provided by the public sector, perhaps through a network of central bank digital currencies,” Carney said.

Read more …

Globalization is dead.

• China Strikes Back At US With New Tariffs On $75 Billion In Goods (R.)

China said on Friday it will impose retaliatory tariffs against about $75 billion worth of U.S. goods, putting as much as an extra 10% on top of existing rates in the dispute between the world’s top two economies. The latest salvo from China comes after the United States unveiled tariffs on an additional $300 billion worth of Chinese goods, including consumer electronics, scheduled to go into effect in two stages on Sept. 1 and Dec. 15. China will impose additional tariffs of 5% or 10% on a total of 5,078 products originating from the United States including agricultural products such as soybeans, crude oil and small aircraft. China is also reinstituting tariffs on cars and auto parts originating from the United States.

Read more …

Dead as a doornail.

• Trump Heaps Another 5% Tariff On Chinese Goods In Latest Escalation (R.)

U.S. President Donald Trump on Friday lashed back at a new round of Chinese tariffs by heaping an additional 5% duty on some $550 billion in targeted Chinese goods in the latest tit-for-tat trade war escalation by the world’s two largest economies. Trump’s move, announced on Twitter, came hours after China unveiled retaliatory tariffs on $75 billion worth of U.S. goods, prompting the president earlier in the day to demand U.S. companies move their operations out of China. The intensifying U.S.-China trade war stoked market fears that the global economy will tip into recession, sending U.S. stocks into a tailspin, with the Nasdaq Compositedown 3%, and the S&P 500 down 2.6%. U.S. Treasury yields also declined as investors sought safe-haven assets, and crude oil, targeted for the first time by Chinese tariffs, fell sharply.


Trump’s tariff response was announced after markets closed on Friday, leaving potentially more damage for next week. “Sadly, past Administrations have allowed China to get so far ahead of Fair and Balanced Trade that it has become a great burden to the American Taxpayer,” Trump said on Twitter. “As President, I can no longer allow this to happen!” He said the United States would raise its existing tariffs on $250 billion worth of Chinese imports to 30% from the current 25% beginning on Oct. 1, the 70th anniversary of the founding of the communist People’s Republic of China. At the same time, Trump announced an increase in planned tariffs on the remaining $300 billion worth of Chinese goods to 15% from 10%.

Read more …

Don’t take Nadler’s hobby away.

• Majority Of Americans Don’t Want Trump Impeached, Removed From Office (USAT)

A majority of Americans oppose impeaching President Donald Trump, according to a new poll by Monmouth University released Thursday. The data point – with 59% of those surveyed responding that Trump should not be impeached and compelled to leave office – comes as Trump’s approval rating remains at 40% in the same poll. In the poll, there is a clear partisan divide on whether the House Judiciary Committee should pursue an impeachment inquiry. While 72% of Democrats believe such an inquiry is a good idea, only 39% of independents and 8% of Republicans share that belief. House Judiciary Committee Chairman Rep. Jerry Nadler, D-N.Y. confirmed the launch of an impeachment inquiry by his House panel earlier this month in an interview on CNN.

Additionally, Nadler sent a letter Thursday asking four other Democratic House committee chairs currently leading investigations into Trump to share documents to aid his committee’s investigation into possible obstruction and other abuses, which could lead to potentially filing articles of impeachment against the president. Nadler wrote to Intelligence Chairman Adam Schiff, D-Calif., Oversight and Reform Chairman Elijah Cummings, D-Md., Financial Services Chairwoman Maxine Waters, D-Calif., and Foreign Affairs Chairman Eliot Engel, D-N.Y. He asked for “documents and testimony, depositions, and/or interview transcripts that you believe may be relevant to the Judiciary Committee’s ongoing impeachment investigation relating to President Trump.”

The Monmouth University poll surveyed 800 adults in the U.S. via telephone from August 16-20, 2019. It has a margin of error of plus or minus 3.5 percentage points.

Read more …

Neither Orwell nor Bizzarro World have anything on this: CNN just hired the FBI’s former no. 2, who was fired for lying to his own employer/agency. For which he should obviously be in jail, but he’s not. Want to guess where you would be if you lied to the FBI? Ask George Papadopoulos. His lie was superficial slash meaningless at best, but he served time. McCabe’s lies are a whole different universe.

• CNN Hires Former FBI #2 Andy McCabe, Who Was Fired For Leaking And Lying (ZH)

Another Ex-Obama official has joined the ranks of anti-Trump cable news punditry, this time disgraced FBI #2 Andrew McCabe, who was fired for leaking information to the media – then lying about it at least four times, including under oath. Now, McCabe – who is suing the DOJ and FBI over what he claims was a “politically motivated” firing just days before he was set to retire with full benefits,” will join former Director of National Intelligence James Clapper at CNN. Succinctly put by The Federalist’s Mollie Hemmingway: “Andrew McCabe, one of the central figures of the “Russia collusion” hoax, who was fired from the FBI for lying about his leaks to the media, has been hired by CNN, one of the media outlets that did the most to perpetuate the damaging hoax.” – Mollie (@MZHemingway) August 23, 2019

McCabe authorized an FBI spokesman to tell the Wall Street Journal’s Devlin Barrett – just days before the 2016 US election, that the FBI hadn’t put the brakes on an investigation into the Clinton Foundation – at a time in which McCabe was coming under fire for his wife taking a $467,500 campaign contribution from Clinton associate, Terry McAuliffe. As noted above, McCabe then lied about the leak at least four times and was subsequently fired over it. McCabe claimed that his boss, also-fired former FBI Director James Comey, was well aware of the leaks. Comey shot back on ABC’s The View, calling McCabe a liar.

Comey was asked by host Megan McCain how he thought the public was supposed to have “confidence” in the FBI amid revelations that McCabe lied about the leak. “It’s not okay. The McCabe case illustrates what an organization committed to the truth looks like,” Comey said, adding “Good people lie … I still believe Andrew McCabe is a good person but the inspector general found he lied,” noting that there are “severe consequences” within the DOJ for doing so.

Read more …

Part 4 of Whitney Webb’s incredible series on sexual blackmail.

“Of particular importance are Epstein’s relationship to the Clinton Foundation and the alleged role of Epstein’s Virgin Islands-based hedge fund and the Clinton Foundation in money laundering activity.. [..] It is this tale of intrigue that fully reveals the extent to which this decades-old alliance between organized crime, the CIA, and Israeli intelligence has corrupted and influenced politicians of both political parties, both through the use of sexual blackmail and through other means of coercion. ”

• Genesis and Evolution of the Jeffrey Epstein-Bill Clinton Relationship (Webb)

[..] these sexual blackmail operations proliferated during the Iran-Contra affair, which involved this same dark alliance between U.S./Israeli intelligence and organized crime. Though this series has thus far largely focused on the ties of Republican officials to those operations and associated crimes, the final installment of this series will focus on Democratic politicians, namely the Clinton family, and their ties to this same network as well as Jeffrey Epstein. The Clintons’ own involvement in Iran-Contra revolved around the covert activities at Arkansas’ Mena Airport, which involved the CIA front company Southern Air Transport and occurred while Clinton was governor.

Just a few years into the Clinton presidential administration, Leslie Wexner and Jeffrey Epstein would play a major role in Southern Air Transport’s relocation to Columbus, Ohio, leading to concerns among top Ohio officials that both men were not only working with the CIA, but that Wexner’s company, The Limited, sought to use the CIA-linked airline for smuggling. During that same period of time, Epstein had already forged close ties to important Clinton White House officials and prominent Clinton donors like Lynn Forester de Rothschild and made several personal visits to the official presidential residence.

Some of these ties appear related to Epstein’s shady financial activities, particularly involving currency markets and offshore tax havens — activities he began to perfect while working for prominent Iran-Contra figures in the early 1980s, several of whom were tied to the CIA-linked bank Bank of Credit and Commerce International (BCCI) and had known relationships with Israeli intelligence, namely the Mossad. The nature of Epstein’s work for these individuals and other evidence strongly suggests that Epstein himself had a relationship with BCCI after leaving Bear Stearns and prior to the bank’s collapse in 1991.

Of particular importance are Epstein’s relationship to the Clinton Foundation and the alleged role of Epstein’s Virgin Islands-based hedge fund and the Clinton Foundation in money laundering activity, a relationship still under investigation by MintPress. It is this tale of intrigue that fully reveals the extent to which this decades-old alliance between organized crime, the CIA, and Israeli intelligence has corrupted and influenced politicians of both political parties, both through the use of sexual blackmail and through other means of coercion.

Read more …

From the same Whitney Webb article. This part warrants attention.

• Bill Barr And Bill Clinton (Webb)

After Clinton’s half-brother Roger was busted for cocaine smuggling (Clinton would later pardon him while president) the CIA sought to move Contra operations out of Arkansas, hoping to put a damper on the increasingly public and sloppy Arkansas-based operation. According to Terry Reed in his book Compromised: Clinton, Bush and the CIA, co-written with John Cummings, a hushed meeting was held in a bunker at Camp Robinson in North Little Rock, Arkansas. During the meeting, William Barr, who represented himself as the emissary of then-CIA Director Bill Casey told Clinton: “The deal we made was to launder our money through your bond business but what we didn’t plan on was you and your n****r here start taking yourselves seriously and purposely shrinking our laundry.”

Barr chastised Clinton for his sloppy handling of the delicate operation and his half-brother’s very public fall from grace. He would later tell Clinton, according to Reed, “Bill, you are Mr. Casey’s fair-haired boy … You and your state have been our greatest asset. Mr. Casey wanted me to pass on to you that unless you fuck up and do something stupid, you’re No. 1 on the short list for a shot at the job that you’ve always wanted. You and guys like you are the fathers of the new government. We are the new covenant.” Attempts to investigate Clinton’s role in the Mena operations and more broadly in the Iran-Contra affair were allegedly axed by Clinton’s own confidantes, who consistently denied he played a role in the scandal.

According to the Wall Street Journal, former IRS investigator William Duncan teamed with Arkansas State Police Investigator Russell Welch in what became a decade-long battle to bring the matter to light. In fact, of the nine separate state and federal probes into the affair, all failed. Duncan would later say of the investigations, “[They] were interfered with and covered up, and the justice system was subverted,” and a 1992 memo from Duncan to high-ranking members of the attorney general’s staff notes that Duncan was instructed “to remove all files concerning the Mena investigation from the attorney general’s office.” The attorney general, serving under George H. W. Bush, at that time was William Barr, who is currently attorney general under Trump.

Read more …

This stuff is so institutionalized, so deeply engrained in our societies, that is will be very hard to get rid of.

• Long Before Epstein: Sex Traffickers & Spy Agencies (Vos)

In the U.S., the New York State Select Committee On Crime in 1982 investigated nationwide networks of trafficking underage sex workers and producing child pornography. Dale Smith, a committee investigator, noted that call services using minors also profited from “sidelines,” besides the income from peddling prostitution. Smith said they sold information “on the sexual proclivities of the clients to agents of foreign intelligence.” Presumably, this information could be used to blackmail those in positions of power. Smith added that one call service sold information to “British and Israeli intelligence.”

Another U.K. scandal included allegations that Sir Peter Hayman, a British diplomat and deputy director of MI6, was a member of the Pedophile Information Exchange (PIE). Police discovered that two of the roughly dozen pedophiles in his circle had been writing to each other about their interest in “the extreme sexual torture and murder of children,” according to the The Daily Mail. In 2015, The Guardian reported that former Prime Minister Margaret Thatcher had been “adamant that officials should not publicly name” Hayman, “even after she had been fully briefed on his activities….formerly secret papers released to the National Archives shows.”

Still, Hayman was unmasked as a subscriber to PIE in 1981 by M.P. Geoffrey Dickens, who also reportedly raised the national security risk of Hayman’s proclivities, implying they were a potential source of blackmail sought by intelligence agencies. The British tabloid The Mirror reported that intelligence agencies, including the KGB and CIA, kept their own dossiers on U.K. establishment figures involved with PIE and the abuse of minors, to blackmail the targets in exchange for information.

Read more …

Makes very little sense. Suicide watch is a serious thing, and all it takes is one psychologist?

• Psychologist Approved Jeffrey Epstein’s Removal From Suicide Watch (R.)

A psychologist at the federal detention center in New York City where financier Jeffrey Epstein was jailed on sex-trafficking charges had approved his removal from suicide watch before he killed himself, the U.S. Justice Department said on Friday. The disclosure came in a letter dated on Thursday from Assistant Attorney General Stephen Boyd and addressed to the leaders of the Judiciary Committee of the U.S. House of Representatives, seeking details about the circumstances surrounding Epstein’s death earlier this month. Epstein, who was 66, was found dead Aug. 10 in his cell inside a segregated housing unit of the Metropolitan Correctional Center (MCC) in Lower Manhattan. An autopsy concluded that he hanged himself.


His death triggered investigations by the FBI, the Justice Department’s Office of Inspector General and the U.S. Bureau of Prisons, which runs the detention facility. The Boyd letter, provided to Reuters on Friday, confirmed that Epstein had been placed on suicide watch in July, a status under which the designated prisoner is held in a special cell under constant observation by staff or “inmate companions.” Epstein was “later removed from suicide watch after being evaluated by a doctoral-level psychologist who determined that a suicide watch was no longer warranted,” Boyd wrote in the three-page letter. The letter did not state precisely why a suicide watch had been ordered for Epstein. But Epstein in July had been found unconscious on the floor of his cell with marks on his neck, and officials had been investigating that incident as a possible suicide attempt or assault.

Read more …

Maybe it takes the French to dig deep enough. Certainly wouldn’t bet on Bill Barr doing the job.

• France Launches Rape Inquiry in Jeffrey Epstein Case (BBC)

French prosecutors have opened an inquiry into rape allegations against the late US financier Jeffrey Epstein. [..] He had an apartment in Paris, and French gender equality minister Marlène Schiappa had called for an inquiry into any abuses committed on French soil. On Friday Paris prosecutors launched a probe for “rape” and “sexual assault”. [..] Epstein spent plenty of time in Paris and owned a luxury apartment near the Arc de Triomphe. Investigations “will focus on potential crimes committed against French victims… and on suspects who are French citizens”, Paris Prosecutor Remy Heitz said in a statement.


A French advocacy group for child sex abuse victims, Innocence En Danger (Innocence at Risk), said this week it had received 10 witness statements involving Epstein regarding alleged sex crimes committed against minors on French soil. Epstein was also friends with French modelling tycoon Jean-Luc Brunel, who was accused in US court documents of procuring young girls for Epstein, along with allegations of rape. Mr Brunel has denied the accusations.

Read more …

“The Democratic contest may be peaking way too early. And Joe Biden hasn’t even had a chance to claim he is the out-of-wedlock grandson of W.C. Handy.”

• Lost at Sea (Kunstler)

Elizabeth Warren set the stage for anointing herself America’s Race Hustler-in-Chief by addressing the niggling matter of her former claim to be a Cherokee Indian, since disproven by a DNA test. There was loose talk, you see, that she used the Cherokee ruse to bamboozle her overseers on the Harvard Plantation, where she got to work in the Big House known as the Harvard Law School based on her “diversity” bona fides — a “minority hire!” The claim was so transparently idiotic and dishonest that she was desperate to walk it back as delicately as possible, in order to keep up with the race hustling of her fellow pols chasing the nomination. A rain dance was arranged in the aptly-named heartland town of Sioux City.

“Like anyone who’s being honest with themselves, I know that I have made mistakes,” said Ms. Warren, who was met with a standing ovation when she took the stage [The Times reported]. “I am sorry for harm I have caused. I have listened and I have learned a lot, and I am grateful for the many conversations that we’ve had together.” Was a more disingenuous political statement ever contrived? A bundle of devious platitudinous promises of the sort that white people always offered the indigenous folk at a thousand crooked treaty councils? It would have been a little more satisfying, perhaps, if Ms. Warren had specified the mistakes made, e.g. I was falsely claiming a racial identity for career advancement. Now that’s an apology!

“Listening and learning?” I dunno… sounds a little like groveling and pandering. Anyone can choke down a few bites of humble pie but please don’t make me eat that shit sandwich! The Democratic contest may be peaking way too early. And Joe Biden hasn’t even had a chance to claim he is the out-of-wedlock grandson of W.C. Handy. There are indications that the political center is already a little tired of the Everything-Is-Racist trope that the party ran up the flagpole this summer. For The New York Times, it became the publicly acknowledged official editorial slant when newsroom chief Dean Baquet announced that the paper needed a replacement for the shredded gonfalon of RussiaGate.

Read more …

Is the DNC secretly working for Trump?

Gabbard torpedoed Kamala Harris’s shot at the job. That won’t be forgiven.

• Tulsi Gabbard Victimized by DNC’s Dubious Debate Criteria (Tracey)

Tulsi Gabbard is on the verge of being excluded from the next Democratic presidential debate on the basis of criteria that appear increasingly absurd. Take, for instance, her poll standing in New Hampshire, which currently places Gabbard at 3.3% support, according to the RealClearPolitics average as of Aug. 20. One might suspect that such a figure would merit inclusion in the upcoming debates — especially considering she’s ahead of several candidates who have already been granted entry, including Cory Booker, Amy Klobuchar, Beto O’Rourke, and Andrew Yang. But the Democratic National Committee has decreed that the polls constituting this average are not sufficiently “qualifying.”

What makes a poll “qualifying” in the eyes of the DNC? The answer is conspicuously inscrutable. Months ago, party chieftains issued a list of “approved sponsoring organizations/institutions” for polls that satisfy their criteria for debate admittance. Not appearing on that list is the Boston Globe, which sponsored a Suffolk University poll published Aug. 6 that placed Gabbard at 3%. The DNC had proclaimed that for admittance to the September and October debates, candidates must secure polling results of 2% or more in four separate “approved” polls – but a poll sponsored by the newspaper with the largest circulation in New Hampshire (the Globe recently surpassed the New Hampshire Union Leader there) does not count, per this cockamamie criteria.

There has not been an officially qualifying poll in New Hampshire, Gabbard’s best state, in over a month. The absurdity mounts. A South Carolina poll published Aug. 14 by the Post and Courier placed Gabbard at 2%. One might have again vainly assumed that the newspaper with the largest circulation in a critical early primary state would be an “approved” sponsor per the dictates of the DNC, but it is not. Curious.

Read more …

 

Cerberus, the early days.

 

 

 

 

 

Debt Rattle August 1 2019

Aug 012019
 
 August 1, 2019  Posted by at 9:35 am Finance Tagged with: , , , , , , , , , , , ,  8 Responses »


Piet Mondriaan Trees by the Gein at Moonrise 1908

 

• Jerome Powell Finds Another Way To Please Nobody (R.)
• The Fed’s Massive Debt for Equity Swap (RIA)
• Mario Draghi Lays Out Plan For A Dangerous Round Of Stimulus (Sinn)
• PBOC Keeps Powder Dry After Fed Rate Cut, But More Easing Expected (R.)
• Bank of England To Lean Against Market Rate Cut Bets As Brexit Nears (R.)
• Capitalism Is Part Of Solution To Climate Crisis, Says Mark Carney (G.)
• UK’s Biggest Financial Scandal Bites Its Biggest Bank – Again (Coppola)
• Jeffrey Epstein Could Spend At Least A Year In Jail Before Trial (F.)
• James Comey’s Next Reckoning Is Imminent — This Time For Leaking (Solomon)
• Judge’s Ruling Throws Huge Spanner Into Assange Extradition Proceedings (Can.)
• Beijing Orders Arabic, Muslim Symbols Taken Down (R.)

 

 

A lot of seemingly serious people are commenting on the bad theater the Democratic debate has become. Nothing better to do with your lives?! It doesn’t matter what any of the ‘candidates’ says or does, the DNC will pull another Bernie 2016. It’s bad theater, it’s cheap, you’re being had, and everyone who watches it should watch themselves instead.

Yeah, just like the central banks. To clean up the US economy, you have to take -most of- the Fed’s powers away. To clean up US politics, you have to burn down the DNC. Or Trump will win forever.

• Jerome Powell Finds Another Way To Please Nobody (R.)

The Federal Reserve has turned. The U.S. central bank on Wednesday cut its target overnight interest cost by a quarter percentage point, to a range of 2% to 2.25%. For some, like U.S. President Donald Trump, that’s surely not enough. For others – and going by most economic statistics – it’s too much. Fed Chairman Jerome Powell has found another way to please nobody. The last federal-funds rate reduction was in 2008, as the financial crisis cut deep. It then bounced along near zero for seven years before Powell’s predecessor, Janet Yellen, oversaw the start of a period of gradual rate hikes in late 2015. Since a quarter-point hike last December, the Fed had held steady at 2.25%-2.5%, until now.

The proximate causes of the move are external – mainly the threat to economic activity from Trump’s confrontational stance on trade. It’s a telling irony that a president who claims the Fed is damping the benefits of his policies by holding rates too high is providing one of the few reasons for the U.S. central bank to cut them. Wednesday’s modest move by the Federal Open Market Committee surely won’t satisfy him. Yet seen through the lens of the Fed’s dual mandate – full employment and stable prices – everything is still humming as the longest expansion in U.S. history enters its second decade, with economic growth steady, unemployment at historic lows and inflation tame. Prices increased just 1.4% in the year to June by the personal consumption expenditures measure, released on Tuesday.

The Fed would prefer inflation nearer its 2% target but that’s a somewhat flimsy rationale for lower rates given the backdrop. A significant minority of traders, meanwhile, expected a half-point cut, according to CME data, so they’ll be disappointed, too – even though buoyant stock and credit markets are hardly crying for help. Two of Powell’s colleagues also dissented, preferring not to cut rates, so they’re unhappy for a different reason.

Read more …

As everyone is staring at a 25 bps cut, here’s where the action is. An economy distorted beyond recognition.

• The Fed’s Massive Debt for Equity Swap (RIA)

Since QE began, nearly 30% of the new corporate debt issued was used for stock buybacks. Putting the pieces of the mosaic together, it is fair to say the most intense corporate debt-for-equity swap in recorded history was enabled by the Fed via monetary policy and the federal government through tax-cuts. This is symptomatic of a variety of issues that have been created by prolonged extraordinary monetary policy. In the same way that corporate behavior has been seriously altered as described above, every central bank in the developed world has undertaken even more extreme measures to foster growth, dictating that the behavior of market participants transform in some manner.


The chart below is a stark reminder of how the Fed has changed the natural order of the corporate debt market. Over the past 25 years, when corporate debt loads became onerous, investors required higher yields and wider spreads to compensate them for the added risks. Today, despite the extreme amount of corporate leverage and the low quality of corporate credit, junk spreads remain near all-time lows. As shown below and highlighted by the red arrow, the long-standing correlation between leverage and high yield spreads is broken.

Read more …

Making sure Lagarde must stick with the program. Draghi is the craziest of them all.

• Mario Draghi Lays Out Plan For A Dangerous Round Of Stimulus (Sinn)

Expectations – and, for many economists, rather bad ones – have been confirmed: the European Central Bank has decided to inflate the eurozone. Following the ECB’s latest policy meeting on 25 July, the outgoing president Mario Draghi made it clear that the bank’s seemingly harmless inflation target of 1.9% will in fact be the basis for a new phase of expansionary monetary policy over the next few years. This will go well beyond the ECB’s stimulus measures to date and is likely to pose further risks to the European economy. We should remember that the Maastricht treaty assigned the ECB the single, non-negotiable goal of maintaining stable prices, which, if taken literally, would mean an inflation rate of zero.

This is very different from the mandate given to other central banks. The introduction of the euro, however, caused interest rates in southern Europe to fall, leading to an inflationary bubble that raised annual price growth to well over 2% in some countries. The ECB’s governing council then argued that the goal of price stability could not be achieved exactly and also pointed to several measurement errors that complicate policymaking. So, the authorities said, they would tolerate average inflation of up to 2% for the eurozone as a whole. The governing council did not fancy a restrictive monetary policy aimed at reducing inflation, as it gave only little weight to the risk of reducing competitiveness in some countries and did not want to slow down countries in stagnation such as Germany.

Then came the euro crisis. With inflation plummeting, the ECB turned the still-tolerable upper limit for the inflation rate into its target. Suddenly, it was argued, the bank would seek to achieve inflation of “close to, but below 2%”. Draghi even went before the television cameras to claim in all seriousness that this was the ECB’s mandate. And now, at the end of his term of office, Draghi is seeking to bind his successor, Christine Lagarde, to a council decision that will force her to aim for 1.9% inflation with a symmetrical concern about potential deviations. In plain language, this means the ECB will try to achieve this figure on average over time, netting out future above-average inflation rates with below-average inflation in recent years.

Read more …

Xi demands total control. Trump wants Powell to make him look good, Xi demands that tripled and cubed. And he gets no dissent.

• PBOC Keeps Powder Dry After Fed Rate Cut, But More Easing Expected (R.)

China’s central bank kept its main policy rates on hold on Thursday, opting not to follow an overnight benchmark rate cut by the U.S. Federal Reserve as policymakers wait to see if earlier support measures start to stabilize the economy. But market watchers say continued support is still needed, and expect more modest forms of policy easing from the People’s Bank of China (PBOC) in coming months if pressure on the economy persists. Amid mounting worries about risks to global growth, the Fed lowered its benchmark rate by a quarter-point on Wednesday, as expected, but the head of the U.S. central bank ruled out a long series of cuts.


Though China’s central bank does not always follow the Fed’s moves in lockstep, some analysts had thought a token PBOC cut, likely in one of its short-term rates, was a possibility. However, no move was apparent by midday on Thursday. The PBOC refrained from daily open market operations (OMOs) early in the session, saying banking system liquidity was “reasonably ample”. “The PBOC skipped OMOs and hence there was no rate adjustment,” said Frances Cheung, head of Asia macro strategy at Westpac in Singapore. “The market may need to wait until mid-August when the next tranche of medium term lending facility (MLF) matures to see if there is any action. Arguably they can adjust policy parameters anytime, and are not constrained by any meeting schedule, but we see no pressure on OMO rates.”

Read more …

No-deal Brexit is a big headache for Carney. He still has a full three months to go after Halloween. It will be messy.

• Bank of England To Lean Against Market Rate Cut Bets As Brexit Nears (R.)

The Bank of England is likely to push back on Thursday against investors who bet that it will follow other central banks and cut rates in the coming months, even as the risk of a messy Brexit darkens growth prospects. Economists polled by Reuters are almost certain that the BoE’s Monetary Policy Committee will vote 9-0 to keep rates on hold at 0.75%. But it is less clear how Governor Mark Carney will tackle the challenge posed by a possible no-deal Brexit. New Prime Minister Boris Johnson has said he will take Britain out of the European Union on Oct. 31 without a transition deal if Brussels does not rewrite the deal it hammered out with his predecessor Theresa May.


The risk of a disruptive no-deal Brexit that could push Britain into a recession means interest rate futures now price in an almost 90% chance of a 25 basis point rate cut before Carney steps down at the end of January. The U.S. Federal Reserve reduced its main interest rate by a quarter of a percentage point on Wednesday, and the European Central Bank is expected to take similar action next month, as both battle a slowdown driven by the U.S.-China trade conflict. But the BoE says Britain is a special case. Chief economist Andy Haldane highlighted last week how British rates had not risen to anything like the extent they had in the United States, while Britain’s job market and inflation were much more buoyant than in the euro zone.

Read more …

Carney wrote that article with Michael Bloomberg talking about how to make a profit off of disaster. And here again: ..there will be great fortunes made along this path aligned with what society wants.” Dangerous.

• Capitalism Is Part Of Solution To Climate Crisis, Says Mark Carney (G.)

Capitalism is “very much part of the solution” to tackling the climate crisis, according to the governor of the Bank of England, Mark Carney. Challenged in an interview by the Channel 4 News presenter Jon Snow over whether capitalism itself was fuelling the climate emergency, Carney gave a strident defence of the economic system predicated on private ownership and growth but said companies that ignored climate change would “go bankrupt without question”. “Capitalism is part of the solution and part of what we need to do,” he said in the interview broadcast on Wednesday.

The economist, who previously worked for Goldman Sachs, said he recognised the costs of ignoring climate change were rising, but stressed there were increasing opportunities for “doing something about it”, and that capital would shift in this direction. “Now there is $120tn of capital behind that framework that is saying to companies: ‘Tell us how you are going to manage these risks’ – that’s the first thing,” Carney said.

“The second thing the capitalist system needs to do is to manage the risks around climate change, be ready for the different speeds of the adjustment. And then the most important thing is to move capital from where it is today to where it needs to be tomorrow. The system is very much part of the solution.” He added: “Companies that don’t adapt – including companies in the financial system – will go bankrupt without question. [But] there will be great fortunes made along this path aligned with what society wants.”

Read more …

Corrupt to the core.

• UK’s Biggest Financial Scandal Bites Its Biggest Bank – Again (Coppola)

To the surprise of markets and the chagrin of shareholders, the U.K.’s largest lender, Lloyds Banking Group, has reported disappointing profits for the second quarter of 2019. And no, it’s not because of Boris Johnson’s antics or the prospect of no-deal Brexit. It’s the final flourish of a much older issue – the U.K.’s long-running PPI scandal. Lloyds has had to take an additional provision of £550m ($670m) to cover a flurry of new PPI claims. This reduced its half-year profit to a paltry £2.2bn ($2.7bn). The share price dropped 5% on the news. Mis-selling of payment protection insurance (PPI) is by far the U.K.’s biggest financial scandal.

The Financial Conduct Authority (FCA) says that since January 2011, British banks and financial institutions have paid out £37.5bn ($45.73bn) in compensation to customers who were wrongly sold PPI insurance. Lloyds Banking Group alone accounts for more than half of this total. The origins of the scandal date back to the 1990s, when financial institutions in the U.K. started selling PPI on lending products including mortgages, car loans and credit cards. PPI was meant to cover loan interest and repayments if the customer became unable to pay, for example due to illness or unemployment. As it was highly profitable for lenders and insurance companies, it was, unsurprisingly, heavily promoted. By 2005, there were an estimated 20 million PPI contracts in existence with annual gross premiums of over £5bn ($6.1bn).

PPI was expensive: premiums could raise the cost of a loan by up to 50%. And it mostly didn’t work. In 2005, the U.K.’s Citizens’ Advice Bureau (CAB) complained that there were so many exclusion clauses in the contracts and administrative barriers to claiming that many people couldn’t make successful claims. Furthermore, the CAB reported, people were being sold policies that they did not need or were unsuitable for them.

Read more …

Over a million pages of evidence. Ghislaine Maxwell must have bought an industrial scale shredder.

• Jeffrey Epstein Could Spend At Least A Year In Jail Before Trial (F.)

A Wednesday court hearing determined that Jeffrey Epstein’s trial for two federal counts of sex trafficking and conspiracy will begin no sooner than June 8, 2020, while his lawyers requested more time to prepare “a case of this magnitude.” Prosecutors said in the hearing that bringing the case to trial quickly is in the public’s interest. Epstein’s lawyer, Martin Weinberg, said they expect to review more than one million pages of evidence while preparing his case. Given the large amount of evidence, Epstein’s team asked for his trial to begin in September 2020, after Labor Day.


Wednesday’s hearing was Epstein’s first court appearance after a possible suicide attempt, and a day after he was reportedly served a new lawsuit from a woman claiming he raped her as a 15-year-old. He showed no signs of injuries, specifically bruising on his neck, from the potential suicide attempt. Epstein is being held in a Manhattan jail without bail, and will likely remain there until his trial begins next year. If convicted, he could spend up to 45 years in prison.

Read more …

Horowitz was ready to go. Barr said too soon.

• James Comey’s Next Reckoning Is Imminent — This Time For Leaking (Solomon)

The Justice Department’s chief watchdog is preparing a damning report on James Comey’s conduct in his final days as FBI director that likely will conclude he leaked classified information and showed a lack of candor after his own agency began looking into his feud with President Trump over the Russia probe. Inspector General (IG) Michael Horowitz’s team referred Comey for possible prosecution under the classified information protection laws, but Department of Justice (DOJ) prosecutors working for Attorney General William Barr reportedly have decided to decline prosecution — a decision that’s likely to upset Comey’s conservative critics.

Prosecutors found the IG’s findings compelling but decided not to bring charges because they did not believe they had enough evidence of Comey’s intent to violate the law, according to multiple sources. The concerns stem from the fact that one memo that Comey leaked to a friend specifically to be published by the media — as he admitted in congressional testimony — contained information classified at the lowest level of “confidential,” and that classification was made by the FBI after Comey had transmitted the information, the sources said. Although a technical violation, the DOJ did not want to “make its first case against the Russia investigators with such thin margins and look petty and vindictive,” a source told me, explaining the DOJ’s rationale.

But Comey and others inside the FBI and the DOJ during his tenure still face legal jeopardy in ongoing probes by the IG and Barr-appointed special prosecutor John Durham. Those investigations are focused on the origins of the Russia investigation that included a Foreign Intelligence Surveillance Act (FISA) warrant targeting the Trump campaign at the end of the 2016 election, the source said.

Read more …

It all hinges on Julian helping -and failing- Chelsea (Bradley) find an identity to hide behind.

• Judge’s Ruling Throws Huge Spanner Into Assange Extradition Proceedings (Can.)

A US judge has ruled that WikiLeaks was fully entitled to publish the Democratic National Congress (DNC) emails, which means no law was broken. The ruling is highly significant as it could impact upon the US extradition proceedings against WikiLeaks founder Julian Assange, as well as the ongoing imprisonment of whistleblower Chelsea Manning. On 30 July, federal judge John G. Koeltl ruled on a case brought against WikiLeaks and other parties in regard to the alleged hacking of DNC emails and concluded that: “If WikiLeaks could be held liable for publishing documents concerning the DNC’s political financial and voter-engagement strategies simply because the DNC labels them ‘secret’ and trade secrets, then so could any newspaper or other media outlet.”

In other words, if WikiLeaks is subject to prosecution, then every media outlet in the world would be. The judge argued that: “[T]he First Amendment prevents such liability in the same way it would preclude liability for press outlets that publish materials of public interest despite defects in the way the materials were obtained so long as the disseminator did not participate in any wrongdoing in obtaining the materials in the first place.” Significantly, the judge added that it’s not criminal to solicit or “welcome” stolen documents, and how: “A person is entitled to publish stolen documents that the publisher requested from a source so long as the publisher did not participate in the theft.”

[..] Greg Barns, a barrister and longtime adviser to the Assange campaign, told The Canary: “The Court, in dismissing the case, found that the First Amendment protected WikiLeaks’ right to publish illegally secured private or classified documents of public interest, applying the same First Amendment standard as was used in justifying the The New York Times publication of the Pentagon Papers. That right exists, so long as a publisher does not join in any illegal acts that the source may have committed to obtain that information. But that doesn’t include common journalistic practices, such as requesting or soliciting documents or actively collaborating with a source. So this case is important in restating what is and is not protected under the First Amendment. But does it have implications for the extradition hearing? Well it certainly helps to remind the courts in the UK that the First Amendment protection is very broad.”

Read more …

Moving backward.

• Beijing Orders Arabic, Muslim Symbols Taken Down (R.)

Authorities in the Chinese capital have ordered halal restaurants and food stalls to remove Arabic script and symbols associated with Islam from their signs, part of an expanding national effort to “Sinicize” its Muslim population. Employees at 11 restaurants and shops in Beijing selling halal products and visited by Reuters in recent days said officials had told them to remove images associated with Islam, such as the crescent moon and the word “halal” written in Arabic, from signs. Government workers from various offices told one manager of a Beijing noodle shop to cover up the “halal” in Arabic on his shop’s sign, and then watched him do it.


“They said this is foreign culture and you should use more Chinese culture,” said the manager, who, like all restaurant owners and employees who spoke to Reuters, declined to give his name due to the sensitivity of the issue. The campaign against Arabic script and Islamic images marks a new phase of a drive that has gained momentum since 2016, aimed at ensuring religions conform with mainstream Chinese culture. The campaign has included the removal of Middle Eastern-style domes on many mosques around the country in favor of Chinese-style pagodas. China, home to 20 million Muslims, officially guarantees freedom of religion, but the government has campaigned to bring the faithful into line with Communist Party ideology.

Read more …

 

 

 

 

 

Debt Rattle April 17 2019

Apr 172019
 
 April 17, 2019  Posted by at 9:25 am Finance Tagged with: , , , , , , , , , , , , , , ,  17 Responses »


Jacques-Louis David Coronation of Napoleon in 1804 in Nôtre-Dame Cathedral 1805-7 (10 metres wide, 6 metres tall)

 

• World Trade Suffers Biggest Collapse Since Financial Crisis (ZH)
• Iran Parliament Declares US Central Command A ‘Terrorist Organization’ (RT)
• CIA Director Used Fake Skripal Incident Photos To Manipulate Trump (MoA)
• Affidavit Tries To Put WikiLeaks In Cahoots With The Taliban (ZH)
• Suzie Dawson on Julian Assange’s Mistreatment (Unity4J)
• Jesus Christ, Julian Assange: When Dissidents Become Enemies Of The State (JW)
• First They Came For Assange (Varoufakis)
• Macron Commits To Rebuilding Notre Dame Within Five Years (Ind.)
• May Has ‘No Chance’ Of Avoiding EU Elections (Ind.)
• Tory Deregulation Agenda Is Stalling Brexit Talks – Corbyn (G.)
• Not In It To Win It: The Dirty Little Secret Of The Democrats’ 2020 Battle (G.)
• Six-Decade Plankton Study Charts Rise Of Ocean Plastic Waste (G.)
• Mark Carney Tells Global Banks They Cannot Ignore Climate Change (G.)
• The Kids Aren’t Nearly Angry Enough (Spiegel)

 

 

The financial crisis is 11-12 years old. But the deception is brilliant: everybody thinks it’s over.

• World Trade Suffers Biggest Collapse Since Financial Crisis (ZH)

The recent collapse in world trade volume is the worst since the financial crisis and as dangerous as during the dot-com bubble of the early 2000s, according to The Telegraph. Data from the CPB Netherlands Bureau for Economic Policy Analysis revealed that world trade volume dropped 1.8% in the three months to January compared to the preceding three months as a synchronized global downturn gained momentum. “An industrial slump has been triggered by a perfect storm of factors, including China’s slowdown, the car industry downturn, Brexit paralysis and Donald Trump’s attempt to upend the international trade system with tariffs on European and Chinese goods,” explained The Telegraph.

A further escalation of the trade war between the U.S. and China could spark a world trade recession. Already, Washington has imposed steep tariffs on Chinese imports worth $250bn in a tit-for-tat battle with industrial centers in Asia and Germany experiencing sharp drops in trade in recent months. The Telegraph describes the sudden loss in trade momentum is equivalent to the months after the dot com bubble imploded in 2001 when trade volumes sank as much as 2.2%. Today’s current move is the biggest fall since the financial crisis of 2007–2008 when global trade plummeted, diving as much as 12.7%. The IMF warned last week that this is a “delicate moment” for the global economy as many countries are in the midst of a severe slowdown.

Read more …

“We” are losing to Iran all over again.

• Iran Parliament Declares US Central Command A ‘Terrorist Organization’ (RT)

The US Central Command (CENTCOM) has been designated as a “terrorist organization” by the Iranian parliament, in a mirror response to Washington’s blacklisting of Tehran’s Revolutionary Guard. All organizations, institutions and forces under CENTCOM command were acknowledged to be “terrorists” by the overwhelming majority of the Iranian MPs, who approved the contents of the bill, which also condemns the US move to blacklist the IRGC, an official military branch of the Islamic Republic of Iran’s Armed Forces. “The Islamic Republic of Iran’s government and Armed Forces are required to adopt preventive actions and preemptive defensive measures whenever necessary, to deter any hostile US forces’ use of any possibilities against the Islamic Republic of Iran’s interests,” the bill states, according to Fars news.


Anyone offering military, intelligence, financial, or any other support to CENTCOM and its affiliate forces will be considered supporters of terrorism. The 13-article legislation also mandates the general staff to begin gathering intelligence about CENTCOM activities so that the material can be used in Iranian courts to prosecute specific individuals. The bill, however, does not mention the exact mechanisms through which Americans are expected to be brought to justice under Iranian laws. Last week the US, for the first time ever, designated an official foreign military institution –the IRGC– as a terrorist organization, as tensions between the states were pushed to the limit following President Donald Trump’s unilateral withdrawal from the Iranian Nuclear deal (JCPOA) and the reintroduction of sanctions that followed.

Read more …

Ducks and babies. We kid you not.

• CIA Director Used Fake Skripal Incident Photos To Manipulate Trump (MoA)

An ass kissing portrait of Gina Haspel, torture queen and director of the CIA, reveals that she lied to Trump to push for more aggression against Russia. In March 2018 the British government asserted, without providing any evidence, that the alleged ‘Novichok’ poisoning of Sergej and Yulia Skripal was the fault of Russia. It urged its allies to expel Russian officials from their countries. The U.S. alone expelled 60 Russian officials. Trump was furious when he learned that EU countries expelled less than 60 in total. The expulsion marked a turn in the Trump administration’s relation with Russia: “The incident reflects a tension at the core of the Trump administration s increasingly hard-nosed stance on Russia: The president instinctually opposes many of the punitive measures pushed by his Cabinet that have crippled his ability to forge a close relationship with Russian President Vladimir Putin. “

Today the New York Times portraits Gina Haspel’s relation with Trump. The writers seem sympathetic to her and the CIA’s position. They include an anecdote of the Skripal expulsion decision that is supposed to let her shine in a good light. But it only proves that the CIA manipulated the president for its own purpose: “Last March, top national security officials gathered inside the White House to discuss with Mr. Trump how to respond to the nerve agent attack in Britain on Sergei V. Skripal, the former Russian intelligence agent. London was pushing for the White House to expel dozens of suspected Russian operatives, but Mr. Trump was skeptical. …

[..] During the discussion, Ms. Haspel, then deputy C.I.A. director, turned toward Mr. Trump. She outlined possible responses in a quiet but firm voice, then leaned forward and told the president that the strong option was to expel 60 diplomats. Ms. Haspel showed pictures the British government had supplied her of young children hospitalized after being sickened by the Novichok nerve agent that poisoned the Skripals. She then showed a photograph of ducks that British officials said were inadvertently killed by the sloppy work of the Russian operatives. Ms Haspel was not the first to use emotional images to appeal to the president, but pairing it with her hard-nosed realism proved effective: Mr. Trump fixated on the pictures of the sickened children and the dead ducks. At the end of the briefing, he embraced the strong option.

Read more …

Can we throw in Pol Pot next? I’ll see your Bin Laden and raise you a Stalin.

• Affidavit Tries To Put WikiLeaks In Cahoots With The Taliban (ZH)

The document uses maximal and hyped language to describe “one of the largest compromises of classified information in the history of the United States,” yet struggles to ascertain whether “illegal agreement that Assange and Manning reached” specifically led to the release of the document trove (obviously crucial for charges against Assange to hold up). Concerning a potential extradition to the US, “probable cause” is cited to be the hundreds of messages sent between Manning and Assange on the Jabber platform. The argument is that Assange and Manning understood that it “would cause injury to the United States,” especially with US forces active on the ground in Afghanistan.

But on this point of whether the leaks did actual harm and damage to US efforts, the document is left reaching, trying to spin and insinuate a narrative that puts WikiLeaks and terrorist groups like the Taliban and al-Qaeda in cahoots. It starts by claiming that “after the release of the Afghanistan War Reports, a member of the Taliban contacted the New York Times.” The supposed Taliban member said, “We are studying the report… If they are US spies, then we will know how to punish them.” This strange and somewhat comical example is meant to support the notion that Assange ultimately aided America’s enemies with the leaks. [..] Worse, the affidavit makes Osama bin Laden — killed in a 2011 raid by US Navy Seals while living comfortably in an Abbottabad, Pakistan compound — out to be a WikiLeaks fan, given letters had been found instructing an al-Qaeda member to “gather” the publicly available material leaked by Manning.

Somehow this is meant to imply WikiLeaks in a round-about way assisted al-Qaeda’s mission. The FBI is perhaps left grasping with this “bin Laden benefited” theory given the relative flimsiness of evidence to support the original “conspiracy to commit computer intrusion” aspect on which the case originated.

Read more …

Brilliant argument: “The question is not whether Julian is a journalist, the question is whether THEY are journalists.”

• Suzie Dawson on Julian Assange’s Mistreatment (Unity4J)

Suzie Dawson powerfully expresses her feelings of righteous indignation on witnessing Julian Assange being dragged from the Ecuadorean Embassy, and reflects on his mistreatment by the establishment and their propaganda arm, the complicit corporate media.

Read more …

So let that Pope of yours stand up for Julian. Do something useful with the $600 million already donated for the Notre Dame. THAT is what your Jesus would have done.

• Jesus Christ, Julian Assange: When Dissidents Become Enemies Of The State (JW)

And then there was Jesus Christ, an itinerant preacher and revolutionary activist, who not only died challenging the police state of his day—namely, the Roman Empire—but provided a blueprint for civil disobedience that would be followed by those, religious and otherwise, who came after him. Indeed, it is fitting that we remember that Jesus Christ—the religious figure worshipped by Christians for his death on the cross and subsequent resurrection—paid the ultimate price for speaking out against the police state of his day. A radical nonconformist who challenged authority at every turn, Jesus was a far cry from the watered-down, corporatized, simplified, gentrified, sissified vision of a meek creature holding a lamb that most modern churches peddle.


In fact, he spent his adult life speaking truth to power, challenging the status quo of his day, and pushing back against the abuses of the Roman Empire. Much like the American Empire today, the Roman Empire of Jesus’ day had all of the characteristics of a police state: secrecy, surveillance, a widespread police presence, a citizenry treated like suspects with little recourse against the police state, perpetual wars, a military empire, martial law, and political retribution against those who dared to challenge the power of the state. For all the accolades poured out upon Jesus, little is said about the harsh realities of the police state in which he lived and its similarities to modern-day America, and yet they are striking.

Read more …

Yanis has this completely upside down, like so many other well-meaning people:

“Let’s join forces to block #Assange’s extradition from any European country to the #US so that he can travel to Stockholm & give his accusers an opportunity to be heard”.

The accusers, if they are real, which is by no means clear, have been silenced by the Swedish government for a reason. And to say now that you can’t speak on the allegations because you too are a man, only reinforces that reason.

Assange has offered for years to talk, and for his accusers to be heard. That never needed to take place in Stockholm, and it does not now. It wouldn’t help anyone.

• First They Came For Assange (Varoufakis)

My meetings with WikiLeaks founder Julian Assange all took place in the same small room. As the intelligence services of a variety of countries know, I visited Assange in Ecuador’s London embassy many times between the fall of 2015 and December 2018. What these snoops do not know is the relief I felt every time I left. I wanted to meet Assange because of my deep appreciation of the original WikiLeaks concept. As a teenager reading George Orwell’s Nineteen Eighty-Four, I, too, was troubled by the prospect of a high-tech surveillance state and its likely effect on human relations. Assange’s early writings – particularly his idea of using states’ own technology to create a huge digital mirror that could show everyone what they were up to – filled me with hope that we might collectively defeat Big Brother.

By the time I met Assange, that early hope had faded. Surrounded by bookcases featuring Ecuadorian literature and government publications, we would sit and chat late into the night. A device on top of a bookshelf emitted mind-numbing white noise to counter listening devices. As time passed, the claustrophobic living room, the badly hidden ceiling-mounted camera pointing at me, the white noise, and the stale air made me want to run out into the street. Assange’s detractors have been saying for years that his confinement was self-inflicted: he hid in Ecuador’s embassy because he jumped bail in the United Kingdom to avoid answering sexual assault allegations in Sweden. As a man, I feel I have no right to express an opinion regarding those allegations. Women must be heard when reporting assault.

Only the violence that men have inflicted upon women for millennia is viler than the disrespect and denigration to which women are subjected when they speak up. I recall saying to Julian that, had it been me, I would want to confront my accusers, and listen to them carefully and respectfully, regardless of whether official charges had been brought. He replied that he, too, wanted that. “But, Yanis,” he said, “if I were to go to Stockholm, they would throw me in solitary and, before I got a chance to answer any allegations, I would be bundled into a plane heading for a US supermax prison.” To drive the point home, he showed me his lawyers’ offer to Swedish authorities to go to Stockholm if they guaranteed that he would not be extradited to the United States on espionage charges. Sweden never considered the proposal.

During Assange’s years in Ecuador’s embassy, in circumstances that the United Nations deemed “arbitrary detention,” many friends and colleagues mocked his fear – and lambasted me for believing him. Last September, the historian and feminist intellectual Germaine Greer summed up that belief on Australian public radio: “He won’t be extradited to the United States,” she said derisively, blaming Julian’s lawyers for misleading him into fearing such an extradition while collecting his book’s royalties.

Read more …

Make that 50. Jesus himself would have to help. Alternatively, we can see this as a sign that Macron doesn’t expect to last as president for 5 years.

• Macron Commits To Rebuilding Notre Dame Within Five Years (Ind.)

French president Emmanuel Macron promised that Notre Dame will be renovated within five years and will be “even better than before” after the devastating fire that ravaged much of the building. Investigators have already begun assessing the damage and questioning people to try to establish what started the blaze that consumed the roof and spire of the 850-year-old Gothic masterpiece. More then €600m has already been raised for rebuilding and restoration and the UK has said it stands ready to help. Firefighters battled for 14 hours to extinguish the flames, as onlookers feared the entire structure would be wrecked. But Parisians breathed a sigh of relief when it became clear the twin medieval bell towers had been spared and later when fire investigators revealed that “most precious” treasures have been saved.


They included the Crown of Thorns, a relic venerated by Christians and believed to have been worn by Jesus Christ, as well as the cathedral’s 18th-century organ and a number of artworks. European Council president Donald Tusk called on the European Union’s member countries to help, saying the site in central Paris is a symbol of what binds Europe together. The fire, which began on Monday evening, is thought to have been caused by an accident rather than arson, the Paris public prosecutor said. Architects warned repairs could take decades but in a televised address to the nation Mr Macron said: “We will rebuild Notre Dame even more beautifully, and I want it to be completed in five years, we can do it.”

Read more …

“..experts have concluded..”

• May Has ‘No Chance’ Of Avoiding EU Elections (Ind.)

Theresa May has “no chance” of passing her Brexit deal in time to pull the UK out of the European parliament elections and avoid a likely devastating defeat, experts have concluded. Time has already effectively run out on attempts to ratify the agreement by 22 May, they say – despite the prime minister insisting talks with Labour can still deliver a compromise before the deadline. The verdict puts the Conservatives on course to lose most of their MEPs, polls suggest, as Leave voters protest at the failure to deliver Brexit, a disastrous result that would trigger huge pressure on Ms May to resign. The staging of the elections will also be a personal humiliation for the prime minister, who repeatedly told MPs they should not take place, three years after the Brexit referendum.


More talks with Labour are planned, as No 10 claims the complex (Withdrawal Agreement) Bill – required to ratify EU withdrawal – can clear parliament before voters go to the polls on 23 May. But two respected think tanks have told The Independent the timetable is a fantasy, with one suggesting it will take “several months” to approve the legislation, which could involve up to 100 votes. Unlike the simple meaningful vote, the full legislation will trigger lengthy and gruelling parliamentary trench warfare, with echoes of the bitter battles over the Maastricht and Lisbon treaties. Approval of Maastricht took 41 days in 1993, while Lisbon required 25 days in 2008 – but there are only 17 sitting days planned before 22 May.

Read more …

There is no way they could ever agree.

• Tory Deregulation Agenda Is Stalling Brexit Talks – Corbyn (G.)

Jeremy Corbyn has said Brexit talks with the government are stalling because of a Tory desire for post-withdrawal deregulation, including as part of a US trade deal. Corbyn said Labour had been putting forward a robust case for a customs union during the talks over the past week but suggested he feared the two sides would not find common ground. “There has to be access to European markets and above all there has to be a dynamic relationship to protect the conditions and rights that we’ve got for environment and consumer workplace rights,” he said. “We’ve put those cases very robustly to the government and there’s no agreement as yet.”


Meetings are scheduled this week between ministers and shadow ministers on environmental protections, security and workers’ rights, which Corbyn described as “quite interesting, quite long technical discussions, particularly on environment regulations”. However, there will be no discussion before Easter on the big issues of a customs union or a confirmatory referendum. Corbyn underlined again that an agreement could only be reached if Theresa May was prepared to accept Labour’s central demand for a common external tariff policy with the EU. “The government doesn’t appear to be shifting the red lines because they’ve got a big pressure in the Tory party that actually wants to turn this country into a deregulated, low-tax society which will do a deal with Trump. I don’t want to do that,” he said.

Read more …

The Delusional Party.

• Not In It To Win It: The Dirty Little Secret Of The Democrats’ 2020 Battle (G.)

Political scientists are quick to point out two reasons why a record number of candidates is running for president on the Democratic side in 2020. One: the Republican president, Donald Trump, is vulnerable with a low-40s approval rating, so the Democratic nominee has a good shot at winning the White House. Two: there’s no bigfoot candidate this time around – no incumbent, no Hillary Clinton – to dissuade other potential candidates from running. Those conditions have lured 15 major candidates so far into the race for the Democratic nomination, with as many as half a dozen more potentially getting in, including former vice-president Joe Biden, who has yet to officially declare. The previous record for major candidates in a presidential primary field was 17, on the Republican side in 2016.


But analysts also nod to a third factor inflating the gigantic 2020 Democratic field, a not-quite-dirty little secret about presidential politics. The fact is, not all of the people running for president are actually running for president. “There is almost always at least a few candidates in these kinds of fields that are either there to push an issue agenda, or these are candidates who are interested in building their name recognition, building their stature and status within the party,” said John Sides, professor of political science at George Washington University and editor-in-chief of The Monkey Cage politics analysis site.

Read more …

How much plastic is inside of you?

• Six-Decade Plankton Study Charts Rise Of Ocean Plastic Waste (G.)

A trove of data showing when the Atlantic began choking with plastic has been uncovered in the handwritten logbooks of a little-known but doggedly persistent plankton study dating back to the middle of the last century. From fishing twine found in the ocean in the 50s, then a first carrier bag in 1965, it reflects how the marine refuse problem grew from small, largely ignored incidents to become a matter of global concern. The unique dataset, published in Nature Communications, is based on records from the continuous plankton recorder, a torpedo-shaped marine sampling device that has been towed across more than 6.5m nautical miles of ocean over the past 60 years.


Bryozoans, nudibranchs, crabs, and barnacles live on a clear plastic bottle in the ocean. Photograph: Justin Hofman/Greenpeace/PA

Based firstly in Hull, then Edinburgh and Plymouth, the long-running programme was initially designed to collect pelagic plankton, which are an indicator of water quality and also a source of food for whales and other marine life. But the operators have also kept a chart-and-counter track of entanglements that disrupted their work: what snared the equipment, where it happened and when. This has proved a valuable source of data on plastic waste, according to contemporary researchers. “This consistent time series provides some of the earliest records of plastic entanglement, and is the first to confirm a significant increase in open ocean plastics in recent decades,” the paper notes.

The start of the problem was so slow it was barely noticed. The log shows strands of fishing twine found off the east coast of Iceland in 1957, then a carrier bag in waters to the north-west of Ireland eight years later. The paper states this was a couple of years before the first reports of turtles and seabirds becoming ensnared in plastic. Over the following decades the problem grew steadily. In the 50s, 60s and 70s, fewer than 1% of tows were disrupted by entanglements with synthetic materials. By the 90s it was almost 2%, and in the first decade of this century the increase “was of an order of magnitude”, according to the paper. The figure is now hovering somewhere between 3% and 4%.

Read more …

Note: if you find yourself agreeing with Carney, and you fail to see the absurdity in this, seek treatment. Carney is a full-time douche. He’s saying going green is a profit opportunity.

• Mark Carney Tells Global Banks They Cannot Ignore Climate Change (G.)

The global financial system faces an existential threat from climate change and must take urgent steps to reform, the governors of the Bank of England and France’s central bank have warned, writing in the Guardian. In an article published in the Guardian on Wednesday aimed at the international financial community, Mark Carney, the Bank’s governor, and Villeroy de Galhau, the governor of the Banque de France, said financial regulators, banks and insurers around the world had to “raise the bar” to avoid catastrophe. They said: “As financial policymakers and prudential supervisors we cannot ignore the obvious physical risks before our eyes. Climate change is a global problem, which requires global solutions, in which the whole financial sector has a central role to play.”


The warning comes as concern over the impact of climate change and the lack of urgent action is increasing, reflected in the Extinction Rebellion protests and schoolchildren’s strikes across the world. The heads of two of the world’s most influential central banks urged other financial regulators around the world to carry out climate change stress tests to spot any risks in the system, while also calling for more collaboration between nations on the issue. They warned that a “massive reallocation of capital” was necessary to prevent global warming above the 2°C maximum target set by the Paris climate agreement, with the banking system required to play a pivotal role. “If some companies and industries fail to adjust to this new world, they will fail to exist,” Carney and De Galhau said.

Read more …

A Climate Fit For a Groundhog

Oct 092018
 
 October 9, 2018  Posted by at 1:03 pm Primers Tagged with: , , , , , , , , , ,  6 Responses »


Pieter Bruegel the Elder Two monkeys 1562

 

And there we go again. Another IPCC report, and they all keep getting more alarming than the previous one. And then nothing substantial happens. Until the next report is issued and makes everybody’s headlines for a day, or two. Rinse, spin and repeat. “Now we really have to do something!”. “World leaders have a moral obligation to act!”.

Oh boy. To start with that last bit, world leaders don’t act because of moral obligations. They act to stay in, or get in, power. And they all know that to achieve that goal they must keep their people happy, even if dictators do this differently from ‘democratically elected’ leaders.

The first tool they have for this is control of the media, control of the narratives that define -or seem to- their societies. If a society is in bad shape, they will control the media to show that it is doing fine. if it’s actually doing fine, they will make sure all the praise for this is theirs and theirs alone.

So what makes their people happy? One thing far ahead of anything else is material comfort. If leaders can’t convince people that they’re comfortable, their power is in danger. Once enough people are miserable or hungry, a process is set in motion that threatens to push leaders aside in favor of someone who promises to make things better. There’s never a shortage of those.

 

Leaders, politicians, think short-term. They may see further into the future than the next election, but that is not useful information. If they enact measures aimed at 10 years from today or more, they risk being voted out in 2 years, or 4. It’s not even their fault, it’s how the system works. It is different for dictators, but not even that much.

The general notion is clear. But that means we can’t rely on our leaders to act against the climate change the IPCC keeps warning of. because is has a -much- longer time window than the next elections -or the next coup in dictator terms. Even if every IPCC report depicts a shorter window than the last one, it’s still not inside those 4-year election cycles (numbers vary slightly, 4 is typical).

A typical ‘response’ to the climate threat are the COP meetings and agreements. I have fulminated plenty against COP21, the Paris accord, even named it CON21. Because that was signed by those very leaders tied down in their election cycles. Completely useless. That most of the other signees were business leaders who represent oil companies, airlines and Big Tech with huge server parks seals the reality of the deal.

These are not the people who will solve the problems. They have too much interest in not doing so. The CEO’s have their profits to think about, the politicians their elections. They should be kept out of the decision-making process. But they’re the only ones who are in it.

I still think the issue was never better epitomized than in the December 2016 piece in the Guardian by Michael Bloomberg and Mark Carney entitled “How To Make A Profit From Defeating Climate Change” , about which I said at the time:

These fine gents probably actually believe that this is perfectly in line with our knowledge of, say, human history, of evolution, of the laws of physics, and of -mass- psychology. All of which undoubtedly indicate to them that we can and will defeat the problems we have created -and still are-, literally with the same tools and ideas -money and profit- that we use to create them with. Nothing ever made more sense.

That these problems originated in the same relentless quest for profit that they now claim will help us get rid of them, is likely a step too far for them; must have been a class they missed. “We destroyed it for profit” apparently does not in their eyes contradict “we’ll fix it for profit too”. Not one bit. It does, though. It’s indeed the very core of what is going wrong.

Profit, or money in general, is all these people live for, it’s their altar. That’s why they are successful in this world. It’s also why the world is doomed. Is there any chance I could persuade you to dwell on that for a few seconds? That, say, Bloomberg and Carney, and all they represent, are the problem dressed up as the solution?

This week’s IPCC report says the efforts to keep warming at acceptable levels (1.5ºC) will cost many trillions of dollars every year. But a billionaire publisher and a central bank head want to make a profit?! Hey, perhaps they can, as long as you and I pay… But they won’t solve a thing. if only because not doing that will be too profitable. Still, while they’re at it, maybe they can do us a favor.

You see, what is hardly ever mentioned, let alone acknowledged, is that we have more than one major existential problem, and they exist in such a form of symbiosis that solving only one doesn’t make much difference.

We have a changing climate, we have accelerating species extinction, we have plastics in our fish, and we have a global economy that’s about to topple over. The common thread in all these is an overkill in energy use and therefore an overkill in waste. Thermodynamics, 2nd law. Waste kills. By raising temperatures, finishing off wildlife, plugging rivers and oceans with plastics, making increasing amounts of people economically miserable.

But as I wrote a while ago, our economies exist to produce waste, it’s not just a by-product -anymore-. If we stop making things we don’t need, and things that do harm to our world and our lives, our economies will collapse. We must continue on our path or see our lifetstyles plummet. They will anyway, we’re just delaying the inevitable, but we’re stuck.

And politicians are utterly useless and utterly unfit in situations like this. But ask yourself: are you any better? If you were told that in order to ‘save the planet’, you’d have to cut your energy use in half, which would take away many of your comforts and luxuries, would you do it?

A better question yet is, if you would agree to do that, and then see that your neighbor does not, would you still cut your driving and flying and electricity? That’s hard enough on an individual level, but how about if one nation does, while another refuses? Or when nations that have much lower per capita energy consumption tell the West: you go first?

 

What do you think the odds are that we’ll find a global solution, approach, before the 2030 cutoff date the IPCC provides in its latest report? While the likes of Bloomberg and Carney still talk about climate change as a profit opportunity? I know what I think.

The report says we need to drastically ‘reform’ our economies and lifestyles. Cutting our energy use in the West in half won’t be enough, if only because billions of people demand more energy at their disposal. Will you cut into your lifestyle, will your children, when they see their neighbors increasing their energy use, when they see entire nations increase theirs?

We don’t have ‘leaders’ that can stop species extinction or a warming planet or an economic collapse, because they either are clueless or they will be voted out of power if they tell the truth. Extend and pretend is a term that’s used to describe economic policies a lot, but it actually paints an accurate picture of everything we do.

“Free”, surplus, energy can come in the shape of sugar in a petri dish full of bacteria, or of stored carbon on planet earth. In both cases, the outcome is as predictable as can be. Can we, with our billions of cars and billions of miles flown every year, and billions of phones and computers, return to the energy use of only 100 years ago? Don’t think so.

On the contrary, we’re constantly increasing our energy consumption. Just like the bacteria do in the petri dish. Until they no longer can, until reality, physics, thermodynamics, sets a limit. One of my favorite themes is that we are the most tragic species ever because we can see ourselves doing things that we know are harmful to us, but we can’t stop ourselves from continuing.

The best we can hope for is that tomorrow morning everything will be the same again as where we started today. But no, that’s not sufficient, either, many of the things we’ve unleashed have 20+ year runtimes, and they’re already baked into the cake of our futures. We can’t start afresh every morning, no Groundhog Day for us. Every morning the alarm goes off things have gotten worse. And we can’t stop that.

 

 

 Older Entries