Feb 222022
 
 February 22, 2022  Posted by at 9:51 am Finance Tagged with: , , , , , , ,  166 Responses »


Salvador Dali Portrait of Gala with Two Lamb Chops Balanced on Her Shoulder 1933

 

“Joe Biden” Wins World War Three (Kunstler)
How the United States Has Provoked the Ukraine Crisis (Cathey)
Putin Recognizes Donbass Independence as Violence Soars (Lauria)
What Accounts for Putin’s Assertiveness on Ukraine? (Ray McGovern)
How Much The EU Has Destabilised Ukraine (Nuttall)
Donbas or Ottawa? The Dizzying Spiral of Government Violence! (Daniel McAdams)
The Neoliberal War On Dissent In The West (Greenwald)
In The Age Of COVID, We’re Reminded An Unjust Law Is No Law At All (McMaken)
Future UK Covid Waves Will Be Treated With Drugs Not Restrictions (Peston)
The Demise of Restaurants (Ugo Bardi)

 

 

 

 

Australia true Covid stats
https://twitter.com/i/status/1495853869242494983

 

 

 

 

Not okay

 

 

Rogan Maajid Nawaz decentralization

 

 

Canada Military
https://twitter.com/i/status/1495749143142322180

 

 

“His Democratic Party is looking everyday more and more like some hell-borne spawn of Satan bent on wrecking what’s left of the old USA.”

“Joe Biden” Wins World War Three (Kunstler)

Enter Monsieur Macron of France. After two years of antagonizing his countrymen with lockdowns and put-downs, he needs a boost for the national election forthcoming in April. So, he has heroically sued Mr. Putin of Russia for a Ukraine “ceasefire.” Note: the Russians haven’t fired. Anyway, that opened the way for a proposed “summit” meeting between “Joe Biden” and Mr. Putin — when the Russians feel like it. They’re playing it a little coy for the moment, letting the West twist slowly, slowly in the wind. If a summit does happen, what will the two summiteers talk about? Mr. Putin will reiterate that the US and NATO made a solemn promise (in writing) to not expand NATO along Russia’s borderland in 1990 when the Soviet Union fell apart, and y’all reneged on that… and now it stops with Ukraine… really… got it?

“Joe Biden” will not have a coherent response. Maybe he’ll want to talk ice cream flavors or dogs. He is, as the Russians say, not negotiation-worthy, though he can be trotted out for photo ops. But “Joe Biden” needs a big win so he can brag on something in his State of the Union address. His Democratic Party is looking everyday more and more like some hell-borne spawn of Satan bent on wrecking what’s left of the old USA. Everything they’ve done since 2016 has degraded the life of the nation — weaponizing the “Intel Community,” queering a national election, besetting the people with race-and-gender mindfuckery, and inflicting the deadly “vaccines” on the population to “fix” the Fauci-created Covid-19 crisis. Never has the country seen a president so obviously incompetent and unpopular. The people backstage running him like an animatronic automaton are in a panic.

By default, then, the summit meeting will be game-set-and-match, Mr. Putin, only both parties will pretend that it’s some kind of moral victory for “JB,” while Russia gets exactly the terms it seeks: Nord Stream-2 will be completed and Germany will get natgas; there will be no additional stupid sanctions and get rid of the old ones; and the US will close up its CIA shop in Kiev and quit all the pointless antagonism. There will be peace in that corner of the world. And then, on cue, the West’s financial system will implode.

Yes, that’s what is actually going on in the background. That roar you hear is bad credit whooshing out of the banks. It looks like we’re going to get both a ripping inflation and a collapse of equities and assets all at once — with a side-dish of disappearing livelihoods, vaporizing pensions, and sinking standards-of-living. One surmises that all the meshugas over Ukraine was designed as a distraction from the financial disorders now at hand. The news media has faithfully played the Ukraine story to the max while ignoring the growing disarray in North America.

The Toronto Star barely even reported today on the weekend dispersion of truckers in Ottawa — like it never happened… a kind of national hallucination. The big rigs are gone from the streets around Parliament Hill, but one suspects the action isn’t over. Mr. Trudeau’s stupid vaxx mandates are still in place and every passing day more is known about their inefficacy and ghastly after-effects. Nor has the national legislature of Canada voted, as required, in support of the Emergencies Act — meaning that the financial punishments inflicted on the truckers and their supporters was arguably illegal.

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“..a conflict, into which the US and NATO can pour support and implement various measures, economic and financial and, eventually, military against Russia, while blaming the Kremlin for starting it.”

How the United States Has Provoked the Ukraine Crisis (Cathey)

The very simple conclusion that may be drawn from what is occurring is this: our foreign policy elites–Neoconservatives and their zealous followers in both the GOP and the Democratic Party–see Russia as a major obstacle in the continuing process of imposing economic and political control over countries which have heretofore not acceded to their hegemony (i.e., Russia and Hungary). Using NATO as a strategic shell and Ukraine as its frontline player, the Neocon/globalist combine seeks to:

(1) prevent an economic disaster for the US of a functioning Nord Stream II pipeline, which would give Germany and potentially other European countries, a climb off ramp from economic domination by the US (journalist Mike Whitney has written conclusively on this topic in the Eurasia Review); and (2) eventually impose politically a pliant government in Moscow, which has become the chief stumbling block in preventing Neocon globalist hegemony and the realization of “the Great Reset.” Russia, like Hungary, has expelled CIA-infested and Soros-sponsored NGOs which in many locations around the world have incited “color revolutions” to install favorable client governments.

More concretely, the Biden administration and US foreign policy establishment (with congressional Republicans in tow) are accusing Russia of “false flag” operations, or more specifically, accusing the pro-Russian secessionists in Lugansk and Donetsk republics of violent attacks against Ukraine (on civilians, schools, all the usual claimed targets), while in fact it is elements of the Ukrainian military, with American encouragement and technical “advisors” embedded, who are responsible for the shelling and the attacks across the cease-fire line. This is one more example of disinformation strategy, projecting onto the Russians what we are actually guilty of.

Just listen to the braindead Biden essentially mouthing this propaganda line. If warfare breaks out it will be because the US State Department and our agents have impelled the Ukrainians to launch such “false flag” actions, literally forcing the Russians to react and thus producing a conflict, into which the US and NATO can pour support and implement various measures, economic and financial and, eventually, military against Russia, while blaming the Kremlin for starting it.

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“The president of France and the Federal Chancellor of Germany expressed their disappointment with this development. At the same time, they indicated their readiness to continue contacts.”

Putin Recognizes Donbass Independence as Violence Soars (Lauria)

Russian President Vladimir Putin has recognized the independence from Ukraine of two breakaway provinces in Donbass as violence in the region continues to escalate. In Monday evening televised remarks after signing decrees recognizing the independence of Lugansk and Donetsk, Putin denounced the government of Ukraine as “puppets” of the United States. He said: “As for those who captured and are holding on to power in Kiev, we demand that they immediately cease military action. If not, the complete responsibility for the possibility of a continuation of bloodshed will be fully and wholly on the conscience of the regime ruling the territory of Ukraine.” After Putin had spoken by phone earlier on Monday with French President Emmanuel Macron and German Chancellor Olaf Scholz on Monday, the Kremlin issued this statement:

“The president of Russia said that he intended to sign the relevant decree in the near future. The president of France and the Federal Chancellor of Germany expressed their disappointment with this development. At the same time, they indicated their readiness to continue contacts.” The Duma last week passed a resolution recommending that Putin recognize the provinces’ independence from Ukraine. Putin had resisted for eight years recognizing the independence of the self-declared republics of Lugansk and Donetsk in the Donbass, insisting instead that Kiev implement the 2014-15 Minsk agreements that would have given autonomy to the provinces, while they remained within Ukrainian territory. The decision by Putin effectively declares that the Minsk process is over.

It does not mean at this point, however, that the people of Lugansk and Donetsk are ready to hold a referendum to join Russia or that Moscow is interested in making them part of Russia, as happened in Crimea in 2014. The two provinces declared independence after the 2014 U.S.-backed coup in Kiev that overthrew democratically-elected President Viktor Yanukovych, who fled the violent capital to the Donbass, his base of support, exactly eight years ago today, on Feb. 21, 2014. On the next day Parliament, with only opposition leaders present, impeached him. After anti-Russian language laws were passed by the coup government, hand-picked before the coup by the United States, and after neo-Nazis burned dozens of people alive in a building in Odessa on May 3, 2014, both Lugansk and Donetsk declared independence nine days later on May 12.

The coup government launched a civil war against the separatists, whom they called “terrorists.” In essence the Donbass was defending their democratic rights to vote, as a majority of the region voted for Yanukovych, in an election certified by the Organization for Security and Cooperation in Europe (OSCE). In the eight years since, as many as 14,000 people have been killed in the fighting. The violence from that continuing conflict has soared since Thursday with thousands of ceasefire violations and explosions in and around Lugansk and Donetsk reported by OSCE monitors on the ground.


Putin speech Feb 21

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Xi.

What Accounts for Putin’s Assertiveness on Ukraine? (Ray McGovern)

Russian President Vladimir Putin’s well choreographed decision yesterday to recognize the independence of the pro-Russian Ukrainian provinces of Donetsk and Luhansk points to two key realities: (1) Putin despairs of persuading U.S. allies, Germany and France, to press Ukraine to honor its commitments under the Minsk accords that provide for regional autonomy as well as a ceasefire; and (2) Putin feels assured of very strong backing from China (as long as he is not stupid enough to invade Ukraine). What about this China factor? Why do Western pundits/savants pay so little heed to this game-changer? It should not require my half-century of studying/reporting on Russia-China relations to notice that China and Russia have never been so strategically close as now. Putin and Xi have done their part to demonstrate that. Why cannot most Western pundits and savants see it and recognize the implications?

There are, happily, notable exceptions – for example, Edward Wong’s Bond Between China and Russia Alarms US and Europe Amid Ukraine Crisis. Wong writes of Chinese Foreign Minister Wang Yi’s speech on Feb. 21 in Munich: “It was the latest instance of what Western officials say is China taking a bold new swing at the United States and its allies by wading into European security issues to explicitly back Russia.” Wong includes quotes from a PR person, Pentagon spokesman John Kirby, and a true expert on China, former prime minister of Australia Kevin Rudd. Kirby: “China’s support for Russia is deeply alarming, and, frankly, even more destabilizing to the security situation in Europe.” Rudd: “China’s explicitly pro-Russian position on European security is new and significant and quite a radical departure from the past.”

Kevin Rudd is right, of course; and it’s nice to know that the Pentagon, too, is aware. Crazed as the generals and admirals have long shown themselves to be, it is questionable whether even they would want to risk war on two fronts with major adversaries – for another star on their shoulder. I recall Amb. Chas Freeman telling me last December, “It is clear that the Sino-Russian entente is expanding under the pressure of US threats to both. Nothing will happen on either Taiwan or Ukraine without coordination between Beijing and Moscow.

That nothing will happen on either Ukraine or Taiwan without coordination between Beijing and Moscow seems to be key to understanding why Putin is feeling his oats. Yesterday, Chas further reminded me that “China agrees with Russia that the US global sphere of influence needs rollback. It does not agree that Ukraine should be invaded, occupied, or annexed. Ironically, China is this century’s citadel of Westphalianism.

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“..after more than a year of protracted negotiations, Yanukovych refused to sign the agreement in November 2013, which set off a chain of events that eventually led to his downfall.”

How Much The EU Has Destabilised Ukraine (Nuttall)

Eight years ago, a democratically elected president was removed from office by protesters waving European Union flags. Viktor Yanukovych had been elected as president of Ukraine in 2010 to serve a five-year term. His time in office was, however, brought to an abrupt end when he was removed for his refusal to sign an association agreement with the EU. The first decade of the 20th century was a golden period for the EU. The euro currency had been launched, the bloc was expanding, and Eurosceptic movements in its existing member states had barely got off the ground. The federalist ideologues in Brussels confidently believed that this was to be the EU’s century, and nothing could prevent it from accruing more powers and expanding further eastwards.

After the accession of central European countries and the Baltic states, Ukraine was the next logical step –highlighted by a vote in the European Parliament in 2005, which floated the possibility of Ukraine eventually joining the bloc. As a consequence, EU cash was poured into Ukraine as a precursor to eventual accession. The first step towards this eventuality was a deepening of economic ties, and to this end an association agreement was initiated in 2012. However, after more than a year of protracted negotiations, Yanukovych refused to sign the agreement in November 2013, which set off a chain of events that eventually led to his downfall.

[..] Now Yanukovych may have been a bad president, but that is not really the point. He was elected to serve a five-year term, and if the electors wanted rid of him, and it seems a sizeable number did, then they could have waited another year and voted him out of office. That is, after all, how democracy works. Nevertheless, with Yanukovych out of the way, the Ukrainian government signed the association agreement with the EU in March 2014. The EU proudly holds itself up as a defender of democracy – although anyone who understands how it really works knows what a contradiction this is – so you would assume that Brussels would have roundly denounced these ugly scenes in Kiev. But no, EU chiefs instead acted as enthusiastic cheerleaders.

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“Even insane San Francisco is in the process of eliminating its mandates, yet somehow Justin Trudeau’s Canada is willing to literally go to war with its own people..”

Donbas or Ottawa? The Dizzying Spiral of Government Violence! (Daniel McAdams)

Will the Russians attack? Well, they’ve been clear for years: a Kiev attack on three-quarters of a million Russian citizens in eastern Ukraine – who because of a Washington coup found themselves ruled by a government that came to power illegitimately – will be met with a Russian military response. In the breathless world of the braindead media hacks, the world began yesterday. But actually we are seeing a situation similar to 2008 in South Ossetia, where Russian passport holders (and Russian OSCE monitors) found themselves under attack by Georgia. The result was lightening fast, effective, and limited. Russia could have held and “regime-changed” Tbilisi. They did not. They made their point and left.

Even the US government-funded RFE had to admit that yes, in fact, it was Georgia that started the hostilities…and Russia that ended them. Will Russia come to the aid of Donbas? Yes. They are not trying to hide it. They’ve been saying it for years . The renowned historian and international relations theoretician Edward Luttwak – never accused of being a political partisan – put it best on Twitter: “The latest IC forecast: war is imminent and Russian forces will rely on exceptionally intense artillery bombardments, of Kiev too. That implies a reckless-gambler Putin, willing to make Ukrainians hate Russia & Russians forever. Neither is congruent with Putin’s record so far.”

This is the difference between astute analysts and the cardboard cut-outs who populate the media. People of intellectual substance like Luttwak are not in the business to grind an axe. They analyze past behavior and seek the truth. Sadly these days we are stuck with the former, with the latter being rarities. Meanwhile in Canada, a liberal Western democracy has declared war – literally – on its own peaceful citizens who have gathered to oppose the absurd continuation of Covid-related mandates. Even insane San Francisco is in the process of eliminating its mandates, yet somehow Justin Trudeau’s Canada is willing to literally go to war with its own people to keep them in place.

What is funny about Canada (and this is also true of the US and many “Western” liberal democracies), is that they are very happy to preach to the rest of the world that peaceful protests must be allowed while literally at the same time brutally cracking down on same protests in their own countries. As in the late Soviet era, the hypocrisy is impossible to ignore. The regime disintegrates under the weight of its own contradictions.

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“The term “dissent,” in Western democracies, connotes legitimacy, so that label must be denied them.”

The Neoliberal War On Dissent In The West (Greenwald)

This last decade of history is crucial to understand the dissent-eliminating framework that has been constructed and implemented in the West. This framework has culminated, thus far, with the stunning multi-pronged attacks on Canadian truckers by the Trudeau government. But it has been a long time in the making, and it is inevitable that it will find still-more extreme expressions. It is, after all, based in the central recognition that there is mass, widespread anger and even hatred toward the neoliberal ruling class throughout the West. Trump, Brexit and the rise of far-right parties in places where their empowerment was previously unthinkable — including Germany and France — is unmistakable proof of that. Rather than sacrifice some of the benefits of inequality that have generated much of that rage or placate or appease it with symbolic concessions, Western neoliberal elites have instead opted for force, a system that crushes all forms of dissent as soon as they emerge in anything resembling an effective, meaningful or potent form.

So many of the controversies over the last decade, often analyzed in isolation, have been devoted to this goal. The pervasive surveillance systems constructed by the West — revealed during the Snowden reporting but only partially reined in at best since then — are crucial tools, as surveillance powers always are, for monitoring and thus stifling dissent. We have now arrived at the point where the U.S. Government and its security state is officially and explicitly clear that it regards the greatest national security threat not as a foreign power such as China or Russia, and not as non-state actors such as Al Qaeda or ISIS, but rather “domestic extremists.” For years, this has been the unyielding message of the DHS, FBI, CIA, NSA and DOJ: our primary enemies are not foreign but are our fellow citizens who have embraced ideologies we regard as extremist.

This new escalation of repression depends upon a narrative framework. Those who harbor dissenting ideologies — and particularly those who do not embrace that dissent passively but instead take action to advocate, promote and spread it — are not merely dissenters. The term “dissent,” in Western democracies, connotes legitimacy, so that label must be denied them. They are instead domestic extremists, domestic terrorists, seditionists, traitors, insurrections. Applying terms of criminality renders justifiable any subsequent acts of repression: we are trained to accept that core liberties are forfeited upon the commission of crimes.

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“..when it comes to protests and other acts of which the regime approves, legality is never an issue.”

In The Age Of COVID, We’re Reminded An Unjust Law Is No Law At All (McMaken)

We could contrast the rhetoric surrounding the trucker protest with that of the Black Lives Matter protests. In the case of the BLM protests, illegal acts were downplayed and ignored, with one obvious riot labeled a “mostly peaceful” protest. when it comes to protests and other acts of which the regime approves, legality is never an issue. The regimes of the world, of course, like to use legality as a standard for judging human behavior because the regimes make the laws. Whether or not the laws actually have anything to do with human rights, private property, or just basic common sense is another matter entirely. Thus history is replete with pointless, immoral, and destructive laws. Slavery has been lawful throughout much of human history. Temporary slavery—known as military conscription—is still employed by many regimes.

In the US, the imprisonment of peaceful American citizens of Japanese descent was perfectly lawful under the US regime during World War II. Today, employers can face ruinous sanctions for hiring a worker who lacks the proper immigration paperwork. Worldwide, people can be jailed in many jurisdictions for years for the “crime” of possessing an illegal plant. During covid, the reality of arbitrary law came very much to the fore when unelected health bureaucrats and lone elected executives began ruling by decree. They closed businesses, shut people up in their homes, and imposed vaccine and mask mandates. Those who refuse to comply—and businesses who refuse to enforce these edicts—are condemned as lawbreakers and subject to punishment.

All of these legal provisions, acts, and sanctions represent mockeries of basic natural rights rather than protections of them. The notion that laws can be perversions of true justice has long been obvious to many. In fact, the disconnect between morality and legality is a fundamental aspect of Western civilization. The basic notion is very old, but the idea’s endurance in the West was reinforced by the fact that Christianity began as an illegal religion and early Christians were often considered to be criminals deserving of the death penalty. It should be no surprise, then, that Saint Augustine declared an unjust law to be no law at all and compared kings to pirates: the decrees of pirates, of course, are not worthy of obedience or reverence. And if kings are like pirates, kingly decrees are of equal respectability. This same tradition fueled Saint Thomas Aquinas’s support for regicide (in certain cases). Needless to say, regicide has been always and everywhere declared illegal by the would-be targets.

Yet, unfortunately, declaring something to be “illegal” remains an effective slur. There is no shortage of people who proudly consider themselves to be blind supporters of “law and order” and who insist “lawbreakers” are axiomatically in the wrong. Their simple-minded refrain is “if you don’t like the law, change it” and many of these people naïvely believe that acts of legislators and regulators somehow reflect “the will of the people” or some sort of moral law. The opposite is often the reality. We could contrast the rhetoric surrounding the trucker protest with that of the Black Lives Matter protests. In the case of the BLM protests, illegal acts were downplayed and ignored, with one obvious riot labeled a “mostly peaceful” protest. when it comes to protests and other acts of which the regime approves, legality is never an issue.

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“..paxlovid and molnupiravir.” Count your blessings.

Future UK Covid Waves Will Be Treated With Drugs Not Restrictions (Peston)

The core of the strategy to deal with another frightening Covid-19 wave will be pharmaceutical and medical interventions rather than lockdowns and restrictions on our lives, the PM will announce this afternoon. But this means laying in stocks of antivirals like paxlovid and molnupiravir, to protect the vulnerable, and that will cost money. And a second source of cost is a testing and surveillance system to catch a new wave early enough to distribute the antivirals. Which is also far from cheap. Hence the dispute this morning between the Treasury and the Deptartment of Health and Social Care. The Treasury seems to have won and Sajid Javid will “reprioritise” from within his existing budget.

A government source confirmed: “A minimum level of response needs to be maintained so that we have the ability to rapidly scale up and deal with future waves through pharmaceutical interventions rather than restrictions – as we did with Omicron.” UPDATE: To keep us safe, and to keep the economy open, there has to be fairly extensive Covid testing, surveillance and genome sequencing regime. Without it, we wouldn’t know if a new and dangerous strain were here, till too late to contain it with antivirals and booster vaccines As I said earlier, this monitoring regime – plus the perceived imperative of maintaining adequate stocks of antivirals – is pricey.

Over the weekend the row between the Department of Health and the Treasury has not been about new money to pay for it, though it was before, but has been a dispute about whether this Covid insurance policy was necessary at all. The Health Secretary Sajid Javid wanted it. Sunak was sceptical. In the end, Javid won this argument and will pay for it by cutting other programmes.

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“the twin impact of depletion and pollution is pushing the Western economy back to what it was a couple of hundred years ago.”

The Demise of Restaurants (Ugo Bardi)

As I said, restaurants have always been a typical middle-class thing. They appeared together with the European middle class, and they are following its destiny. During the past few decades, the middle class has been gradually pushed back into the fold of the lower class. The restaurant business could not avoid being affected by the trend. The tradition of eating out is still alive in the West, but the resources for doing that are not there anymore for a middle class that’s struggling to survive, and failing at that. On their side, the rich don’t eat at restaurants, at least not at the same kind of restaurants that the deplorables can afford. For the very rich and politically exposed persons (PEPs), appearing at a restaurant without an armed escort would be dangerous (*). They have their private cooks and exclusive places. And they socialize with each other throwing expensive parties at their homes. A habit that we find in ancient history, even in Roman times and earlier.

You may have seen the picture of Bill Gates supposedly standing in line waiting for his turn for a burger. It is surprising that many Westerners seem to believe in this kind of cheap PR stunts. In the old Soviet Union, if Leonid Brezhnev had diffused a picture of himself standing in line to buy shoes, people would have laughed themselves to death. But it is known that Westerners are sensitive to propaganda. In any case, the current Western elites are acting just like the Soviet elites of old. They don’t care about what the commoners eat, although they are worried that starving them may lead them to revolt. So, they tend to allow a basic supply of food, but they consider restaurants (and the associated tourism) as a waste of resources. They much prefer to funnel the surplus produced by the economy into their own pockets rather than having it dissipated by the commoners.

They can use several methods to obtain this result: lockdown worked nicely, but could not be imposed forever. Other methods were later used to make the restaurant experience unpleasant for the customers. Different factors reinforced each other. One result of the financial strain is that the quality of the food and of the service is going down (I can testify that myself). Finally, the QR code is the perfect method to keep the deplorables out. It is a more sophisticated and tuneable tool than the old written menu. So, Western restaurants are in the crosshair and it is unlikely that they will survive, at least in the form we are used to seeing them. It is not so much because the PTB are evil — they are no more evil than most categories. It is mostly because the economic contraction coming from the twin impact of depletion and pollution is pushing the Western economy back to what it was a couple of hundred years ago.


a Sumerian QR code to assign rations of beer. Some things never change, some things always return.

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Crowther

 

 

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Dec 022021
 


René Magritte After the water, the clouds 1926

 

The Epidemiological Relevance Of The Vaccinated Population Increase (Lancet)
The Impact Of Misclassifying Deaths In Evaluating Vaccine Safety (Fenton)
Why Is Omicron Being Treated Like Ebola? (Dalgleish)
Fauci The Omnipotent (Miller)
Sen. Blackburn: Fauci ‘Around Too Long,’ Should Retire to Florida (NM)
Dying COVID-19 Patient Recovers After Court Orders Ivermectin Treatment (ET)
Conservatives Eye Government Shutdown to Stop Vaccine Mandate Funding (NM)
Some Swedes Are Getting Vaccine Passports On Implantable Microchips (SN)
Reuters Chairman is Pfizer Investor and Board Member (NP)
Lockdown Prevented as Many as 740,000 UK Urgent Cancer Care Referrals (SN)
Two Premier League Matches Hit By Medical Emergencies On Same Night (RT)
Russia Tells US Embassy Staff To Leave Moscow (RT)
Half of Ukraine’s Army Has Now Been Deployed To Donbass – Moscow (RT)

 

 

 

 

 

 

Stillbirths

 

 

“If human nature & history teach anything, it is that civil liberties face grave risks when governments proclaim indefinite states of emergency”
– Judge Doughty in his order blocking Vaccine mandate.

 

 

“..reported weekly since 21. July 2021 and was 16.9% at that time among patients of 60 years and older. This proportion is increasing week by week and was 58.9% on 27. October 2021..”

The Epidemiological Relevance Of The Vaccinated Population Increase (Lancet)

High COVID-19 vaccination rates were expected to reduce transmission of SARS-CoV-2 in populations by reducing the number of possible sources for transmission and thereby to reduce the burden of COVID-19 disease. Recent data, however, indicate that the epidemiological relevance of COVID-19 vaccinated individuals is increasing. In the UK it was described that secondary attack rates among household contacts exposed to fully vaccinated index cases was similar to household contacts exposed to unvaccinated index cases (25% for vaccinated vs 23% for unvaccinated). 12 of 31 infections in fully vaccinated household contacts (39%) arose from fully vaccinated epidemiologically linked index cases. Peak viral load did not differ by vaccination status or variant type.

In Germany, the rate of symptomatic COVID-19 cases among the fully vaccinated (“breakthrough infections”) is reported weekly since 21. July 2021 and was 16.9% at that time among patients of 60 years and older. This proportion is increasing week by week and was 58.9% on 27. October 2021 (Figure 1) providing clear evidence of the increasing relevance of the fully vaccinated as a possible source of transmission. A similar situation was described for the UK. Between week 39 and 42, a total of 100.160 COVID-19 cases were reported among citizens of 60 years or older. 89.821 occurred among the fully vaccinated (89.7%), 3.395 among the unvaccinated (3.4%). One week before, the COVID-19 case rate per 100.000. was higher among the subgroup of the vaccinated compared to the subgroup of the unvaccinated in all age groups of 30 years or more.

In Israel a nosocomial outbreak was reported involving 16 healthcare workers, 23 exposed patients and two family members. The source was a fully vaccinated COVID-19 patient. The vaccination rate was 96.2% among all exposed individuals (151 healthcare workers and 97 patients). Fourteen fully vaccinated patients became severely ill or died, the two unvaccinated patients developed mild disease [[4]]. The US Centres for Disease Control and Prevention (CDC) identifies four of the top five counties with the highest percentage of fully vaccinated population (99.9–84.3%) as “high” transmission counties. Many decisionmakers assume that the vaccinated can be excluded as a source of transmission. It appears to be grossly negligent to ignore the vaccinated population as a possible and relevant source of transmission when deciding about public health control measures.


Figure 1- Vaccination rates and proportions of fully vaccinated people among symptomatic COVID-19 cases (≥ 60 years) in Germany between 21. July and 27. October 2021 based on the weekly reports from the Robert Koch-Institute.

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Part 2.

Norman Fenton is Professor in Risk Information Management. Martin Neil is Professor in Computer Science and Statistics.

No idea how they figured this out, or why, but it’s interesting. A one week delay in reporting changes the entire picture.

The Impact Of Misclassifying Deaths In Evaluating Vaccine Safety (Fenton)

In a previous post we showed that if there was a one-week delay in reporting deaths then a vaccine that was a placebo would be seen to have a decreased mortality rate for the vaccinated compared to the unvaccinated. In other words, an illusion of effectiveness is created by the one-week delay in reporting. This is shown in Figure 1 with our hypothetical example comparing the correct figures to the reported figures based on a one-week delay. The example assumes that in this population of 10 million people there is a (constant) weekly mortality rate of 50 deaths per 100,000 people. Each week the population reduces by the number of deaths the previous week. All death numbers (which are simply the relevant population multiplied by 50/100000) are rounded to whole numbers.


Figure 1: Hypothetical example of a placebo vaccine introduced into a population. A) shows correct results; B) shows results reported if there is a one-week delay in reporting deaths

It turns out that, under the same hypothetical assumptions, the same results arise if, instead of a one-week delay in death reporting there is a misclassification of newly vaccinated deaths; specifically, any death of a person occurring in the same week as the person is vaccinated is treated as an unvaccinated, rather than vaccinated, death.


Table 1: Reported deaths and mortality rate if newly vaccinated deaths are reported as unvaccinated


Figure 2 Plot of weekly mortality rates under either the delayed death reporting or death misclassification scenarios

It shows the apparently clear life-saving benefit of the ‘vaccine’. But there is an obvious indication that these results are not real. If they were, why would the mortality rate in the unvaccinated peak at about the same time as the vaccine programme reaches its peak? It turns out that the plots for mortality rates from the ONSreport (weeks 1-38) for the Covid-19 vaccination programme in each of the older age categories look remarkably similar to the plot in Figure 2, i.e. with the same peaks in unvaccinated mortality coinciding with when the vaccination programme reached its peak for this age group. For example, Figure 3 shows the 60-69 age group (for which vaccination peak was reached in week 11) and Figure 4 shows the 80+ age groups (for which vaccination peak was reached in week 6).


Figure 3 Plot of weekly mortality rates for Covid19 vaccinated v unvaccinated (this is all-cause mortality but the plots have the same shape even if deaths classified as Covid are removed)


Figure 4 Plot of weekly mortality rates under either the delayed death reporting or death misclassification

Why are the theoretical results important? Because they at least partly explain how the strange observed ONS results could occur even if the mortality rate of the vaccinated was the same (or even higher) than that of the unvaccinated. While it seems that deaths in the ONS report are being reported by date of death (hence are not delayed), newly vaccinated deaths are being classified as unvaccinated. Indeed, it is likely that any death within the first 14 days of vaccination may be classified as unvaccinated.

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“Anyone infected with a ‘mild’ Covid virus — one unlikely to cause serious disease — will still develop antibodies to guard against future infection.”

Why Is Omicron Being Treated Like Ebola? (Dalgleish)

As I listened to ministers react nervously in recent days to the new Omicron Covid variant, I began to experience an all-too-familiar sinking feeling. Shall I put it into words? Here we go again, I thought. Mask mandates have been reimposed in shops, schools and hairdressers, and new swingeing £200 fines will be levied on those who dare to break the rules. Meanwhile, the inevitable chorus of gloomy voices has begun to sing again: that unholy alliance of scientific ‘experts’ who have been given blanket coverage by the BBC and Left-wing media so often during this pandemic. The Government has used these voices as justification to impose fresh restrictions on our lives — as well as to threaten more in future. Right now, the key question is: are any of the new measures actually necessary?

Yes, there remains much we don’t know about Omicron, but the early signs are distinctly encouraging. Many patients have reportedly recovered quickly from what have been very mild symptoms. Southern Africa, where the variant emerged, has largely avoided panicking. One German epidemiologist, Professor Karl Lauterbach, who is running to be Germany’s next health minister, has even said that a mild strain would be an ‘early Christmas gift’. Given all that, how much can the Government’s hawkish approach truly be justified? Very little, I would submit. The real danger for most of us now comes not from Omicron or any other coronavirus variant. Instead, it comes from ministers and officials apparently flirting with taking us into yet another era of ruinous restrictions, cancelling Christmas or other cherished holidays, dashing all hope of foreign travel, wrecking the economy and otherwise immiserating our lives at the whim of the state.

Yes, a new, heavily mutated coronavirus variant has been identified. But Professor Lauterbach, a highly respected clinical epidemiologist, suggested yesterday that the variant might even be good news. Why? Because its numerous mutations — twice as many as the Delta variant that swept the world this year — mean that though it may well be more infectious, it could also be less deadly. In layman’s terms, this means that more people might catch it, but not suffer serious illness. And that is a good thing — certainly compared to a very infectious, very virulent virus with the capacity to sicken or kill large numbers of people. Anyone infected with a ‘mild’ Covid virus — one unlikely to cause serious disease — will still develop antibodies to guard against future infection. And the more people with such antibodies, the closer we are to the fabled ‘herd immunity’.

This, coupled with the help of our highly successful vaccination programme, could even spell the eventual end of the pandemic — though not, it must be said, the end of Covid. This is the sort of grown-up discussion ministers should be having with us. Instead, by announcing new restrictions over the weekend, flanked by his two familiar harbingers of doom, Professor Chris Whitty and Sir Patrick Vallance, the Prime Minister risked terrifying large swathes of the nation all over again — just as they were beginning to catch their breath as the worst of the pandemic was lifting.

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“..when Fauci declares himself a representative of Science, it’s a statement of his religious devotion.”

Fauci The Omnipotent (Miller)

What does Anthony Fauci have to do with a starship? The good doctor’s staggering claims and admissions during his Sunday interview with Face the Nation’s Margaret Brennan recall a classic scene from Star Trek V: The Undiscovered Country. The crew of the Enterprise are taken to a mysterious realm to face a being claiming to be an all-powerful god. To question the being would be to question God himself. The being, of course, turns out not to be a god or the God, but rather an alien entity, trapped and trying to escape. Now, Dr. Fauci seems to be borrowing from the alien’s playbook.

When Fauci was asked recently about Senator Ted Cruz recommending prosecutorial action against him to the attorney general, he grew incensed and defensive, even throwing in a reference to the Capitol riot on January 6 for some reason. It was a nakedly partisan attack, the kind you might expect from our politicians and bureaucrats, but not the nation’s bedside doctor, who should be led by the Hippocratic Oath and not Jim Acosta. Then came a broad swipe at anyone who dared to question the omnipotent Anthony Fauci, despite his many, many backtracks over the last two years. Fauci decreed that to question him, his decisions or his motives, is to question the very foundations of science itself.

When Brennan referenced Fauci’s testimony to Congress, he responded, “I’m just going to do my job. I’m going to be saving lives and they are going to be lying.” He continued, “If they get up and really aim their bullets at Tony Fauci. It’s easy to criticize. But they are really criticizing science. Because I represent science and that’s dangerous.” Tony Fauci has apparently anointed himself the Science, or at least the ambassador speaking on behalf of Science. This is the second time he has made such a declaration. “Attacks on me, quite frankly, are attacks on science,” he told Chuck Todd on Meet the Press in June. This is where most criticism of Fauci misses the mark. Breathless tweets from anonymous accounts depict him as a war criminal, worse than Hitler. Senators threaten him with jail time over misleading testimony to Congress.

But when Fauci declares himself a representative of Science, it’s a statement of his religious devotion. He’s not referring to the science of, say, the human manipulation of viruses that can lead to a global pandemic, research Fauci once said he believed was worth the risk. Or to the science that has possibly led to eleven million deaths worldwide and altered the lives of every citizen of every industrialized nation on the planet. Fauci believes himself to be a force for good, no matter how many people or puppies have to die to achieve that good. He does not believe in the laws of Congress or man, which is why when pressed, even by Brennan in that same interview, about the origins of this virus and why it seems engineered differently than other SARS viruses, he retreats once again and pushes a wet market theory that not even the Chinese government is willing to stand by anymore.

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Fauci’s staying power demonstrates the power of Pfizer. The FDA receives 45% of its budget from the pharmaceutical industry.

Sen. Blackburn: Fauci ‘Around Too Long,’ Should Retire to Florida (NM)

Dr. Anthony Fauci has been in his position as the director of the National Institute of Allergy and Infectious Diseases for “much too long” and should “just retire” to Florida, which has the lowest COVID-19 case and death numbers in the United States, Sen. Marsha Blackburn said on Newsmax Tuesday. “He knows the agency he has led has invested U.S. taxpayer money into gain of function research, and now he doesn’t want people to be aware of that,” the Tennessee Republican said on Newsmax’s “Wake Up America,” while accusing the doctor of covering up for himself and slamming the politically charged comments Fauci made in a Sunday interview.

“It is time for him to leave his job,” she added. “It is time for him to move on. What we need to do is get to the bottom of how this started. What are the origins of this particular strain of coronavirus? This is … something that we’re going to have to handle, learn how to manage, and unfortunately, live with like we do the common flu.” During an interview with CBS News Sunday, Fauci said that “anybody who spins lies and threatens and all that theater that goes on with some of the investigations and the congressional committees and the Rand Pauls and all that other nonsense, that’s noise.” And when he was asked about Sen. Ted Cruz, R-Texas, and his call for an investigation, Fauci said that he would “have to laugh at that. I should be prosecuted? What happened on Jan. 6, Senator?”

Blackburn said that Fauci has been slamming anyone who questions his judgment for months and that he has accused her and others of “criticizing science” when they criticize him. “Well, newsflash to Dr. Anthony Fauci; he is not science. What he has done over the course of the pandemic is to turn himself into a politician and a pundit thinking he can belittle people,” said Blackburn. “The American people have looked at him. They watched him and they formed an opinion of him. They found him to be untruthful. And they don’t consider his advice to be something that they should be following because he’s been all over this.”

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Last week’s story of Mr. Ng gets more attention.

Dying COVID-19 Patient Recovers After Court Orders Ivermectin Treatment (ET)

An elderly COVID-19 patient has recovered after a court order allowed him to be treated with ivermectin, despite objections from the hospital in which he was staying, according to the family’s attorney. After an Illinois hospital insisted on administering expensive remdesivir to the patient and the treatment failed, his life was saved after a court ordered that an outside medical doctor be allowed to use the inexpensive ivermectin to treat him, over the hospital’s strenuous objections. Ivermectin tablets have been approved by the U.S. Food and Drug Administration (FDA) to treat humans with intestinal strongyloidiasis and onchocerciasis, two conditions caused by parasitic worms. Some topical forms of ivermectin have been approved to treat external parasites such as head lice and for skin conditions such as rosacea. The drug is also approved for use on animals.

Remdesivir has been given emergency use authorization by the FDA for treating certain categories of human patients that have been hospitalized with COVID-19. But the use of ivermectin to treat humans suffering from COVID-19 has become controversial because the FDA hasn’t approved its so-called off-label use to treat the disease, which is caused by the CCP virus also known as SARS-CoV-2. Critics have long accused the FDA of dragging its heels and being dangerously over-cautious and indifferent to human suffering in its approach to regulating pharmaceuticals, a criticism that led to then-President Donald Trump signing the Right to Try Act in May 2018. The law, according to the FDA, “is another way for patients who have been diagnosed with life-threatening diseases or conditions who have tried all approved treatment options and who are unable to participate in a clinical trial to access certain unapproved treatments.”

Medical doctors are free to prescribe ivermectin to treat COVID-19, even though the FDA claims that its off-label use could be harmful in some circumstances. Clinical human trials of the drug for use against COVID-19 are currently in progress, according to the agency. The drug “most definitely” saved the elderly patient’s life “because his condition changed right immediately after he took ivermectin,” attorney for the family, Kirstin M. Erickson of Chicago-based Mauck and Baker, told The Epoch Times. Sun Ng, 71, who was visiting the United States from Hong Kong to celebrate his granddaughter’s first birthday, became ill with COVID-19 and within days was close to death. He was hospitalized on Oct. 14 at Edward Hospital, in Naperville, Illinois, a part of the Edward-Elmhurst Health system. His condition worsened dramatically and he was intubated and placed on a ventilator a few days later.

Ng’s only child, Man Kwan Ng, who holds a doctoral degree in mechanical engineering, did her own research and decided that her father should take ivermectin, which some medical doctors believe is effective against COVID-19, despite the FDA’s guidance to the contrary. But against the daughter’s wishes, the hospital refused to administer ivermectin and denied access to a physician willing to administer it. The daughter went to court on her father’s behalf and on Nov. 1, Judge Paul M. Fullerton of the Circuit Court of DuPage County granted a temporary restraining order requiring the hospital to allow ivermectin to be given to the patient. The hospital refused to comply with the court order.

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The mandate’s dead.

Conservatives Eye Government Shutdown to Stop Vaccine Mandate Funding (NM)

Senate conservatives are reportedly considering a forced government shutdown this Friday in hopes of defunding the Biden administration’s private sector vaccine mandate, with House conservatives planning measures to support the effort, according to several Republican sources. The Senate conservatives plan to object to the quick consideration of a plan to extend funding until early next year if Democrat leaders don’t agree to refuse the funding needed for the mandate, the sources told Politico’s Playbook. The senators think they’ll be able to delay the process until past midnight Friday when the funding for the mandate would officially expire.

Sen. Mike Lee, R-Utah, told Politico in a statement that while he’s sure the Senators would all like to “simplify the process” to resolve the continuing resolution, he “can’t facilitate that without addressing the vaccine mandates.” “Given that federal courts across the country have raised serious issues with these mandates, it’s not unreasonable for my Democratic colleagues to delay enforcement of the mandates for at least the length of the continuing resolution,” Lee added. It was not made clear how many of the Senate’s conservatives are willing to follow through on the threat to shut down the government, but in early November, 15 conservatives signed a letter, led by Sen. Roger Marshall, R-Kan., to “use all means at our disposal” to block the passage of any continuing resolution that doesn’t stop the vaccine mandate.

Because of Senate rules requiring unanimous consent to move the CR through quickly, only one senator is needed to object to go past the Friday midnight deadline. Meanwhile, the House Freedom Caucus voted Tuesday night to pressure Minority Leader Kevin McCarthy to take a more hard-line stance on the continuing resolution unless Democrats pull the funding to enforce the vaccine mandate, according to sources familiar with the matter. “There is leverage immediately in the Senate, and we think that House Republicans ought to be backing up any number of Senate Republicans … to use all procedural tools to deny the continuing resolution passage Friday night unless they restrict the use of those funds for vaccine mandates,” Rep. Chip Roy, R-Texas, told Politico.

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Betcha many will line up for this. Just like for the vaxx. It’s all about how you tell the story.

Some Swedes Are Getting Vaccine Passports On Implantable Microchips (SN)

Footage out of Sweden shows people willingly having COVID vaccine passports placed onto implantable microchips in their hands. Yes, really. The chips started out as a convenience fad. Those with an implant can open doors without keys, pay without cash, carry gym memberships and ID without cards and wallets. And so naturally, why not have their precious COVID vaccination status applied to the implantable chip too, so they can participate in society. One of Sweden’s most popular daily newspapers, Aftonbladet, reports “Get your Covid certificate in a chip in your hand or elsewhere under the skin. It is increasingly popular to insert a chip into the body with different types of information and now you can also insert your Covid certificate in the chip.”

While Sweden has largely avoided lockdowns and mask mandates, creating some pretty spectacular stats compared to the rest of Europe, the government there announced recently that starting December 1st vaccine passports will be required for events with over 100 people in attendance. Given the obsequiousness displayed by some billions of people around the world in taking the COVID vaccine, don’t be surprised to see governments push implantable microchips for bio-security next. Cellphone apps are already used as vaccine passports, which are de facto identity cards, so it’s not a huge leap to suggest that within a decade, a huge public relations campaign will be launched urging everyone to get chipped.


Whether that is predicated on banking and lifestyle restrictions being placed on those who refuse to take the chip or whether it will be introduced off the back of a new pandemic remains to be seen. Don’t forget that ‘Great Reset’ pioneer himself Klaus Schwab acknowledges in his own book that an implantable microchip is the ultimate aim. “Some of us already feel that our smartphones have become an extension of ourselves. Today’s external devices—from wearable computers to virtual reality headsets—will almost certainly become implantable in our bodies and brains,” wrote the World Economic Forum founder.

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Not new, but still relevant.

Reuters Chairman is Pfizer Investor and Board Member (NP)

The chairman and former Chief Executive Officer (CEO) of the Reuters news agency – James C. Smith – is a top investor and board member for pharmaceuticals giant Pfizer. He was elected to the board in 2014, as well as joining Pfizer’s Corporate Governance and Science and Technology Committees. The news raises serious conflict of interest concerns as corporate media outlets such as Reuters continue to promote Pfizer products, defend pharmaceuticals companies from criticism, and move to silence skeptics. Smith is currently the Chairman of the Thomson Reuters Foundation, the London-based charity known for providing news and information to billions of readers. He was also the President, Chief Executive Officer, and on the Board of Director of Reuters from 2012 until his retirement in 2020.

He has worked with the organization since 1987, when they were known as the Thomson Newspaper group. He has also served as the CEO of the professional division, overseeing legal, tax and accounting, and intellectual property and science businesses. Later, he went on to lead the North America operations for the news organization. In an official statement at the time, Ian Read, Pfizer’s chairman and CEO said: “We are pleased to have Jim Smith join Pfizer’s Board of Directors. He brings leadership and operational and international business experience to Pfizer’s Board, and will be an excellent asset to the company. The addition of Jim to our Board helps ensure that Pfizer will continue to benefit from a breadth and variety of experience.”

In the last year alone, Reuters has published more than 22,000 articles mentioning Pfizer. The company has only published 8,191 articles related to Moderna, and 18,000 related to Johnson & Johnson. Many of the articles about Johnson & Johnson were negative in sentiment, unlike their Pfizer reporting. Smith is also linked to the World Economic Forum (WEF), where he serves on the board of Partnering Against Corruption Initiative. He’s also a member of WEF’s International Business Advisory Boards of British American Business and the Atlantic Council. According to the Wall Street Journal, Smith also holds the position of President & CEO of Refinitiv Transaction Services, Ltd, who boasted $6.25 billion in revenue with more than 40,000 customers and 400,000 end users across 190 countries. Refinitiv was a member of the Thomson Reuters Group until 2018.

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Vitamin D could have prevented all of this.

Lockdown Prevented as Many as 740,000 UK Urgent Cancer Care Referrals (SN)

People avoiding hospitals or being unable to obtain healthcare due to lockdown prevented as many as 740,000 urgent cancer care referrals in the UK, it has been revealed. Medics are warning of “the biggest cancer catastrophe ever to hit the NHS” after a report by the report by the National Audit Office (NAO) found that from the start of the pandemic “millions of people have avoided seeking, or been unable to obtain, healthcare.” “By June 2021, NHS cancer services activity had recovered to pre-pandemic levels. However, in September 2021 only 68% of patients requiring treatment within 62 days of urgent referral by their GP were receiving that treatment on time,” the NAO said.

In total, between 240,000 and 740,000 urgent referrals for suspected cancer cases were missed. The report also warned that with the flood of missing referrals returning to place a further burden on the system, the waiting list could grow to 12 million by March 2025. Catchup With Cancer co-founder Professor Pat Price described the situation as “frightening.” “There is a deadly cocktail of delays across the board, a regional lottery of cancer inequality and a growing cancer backlog. And it feels like the Government and NHS leaders have their heads in the sand,” she said.

While people who oppose face masks, lockdown measures and other interventions are routinely blamed for exacerbating COVID deaths, vehement advocates for lockdown rarely ever face condemnation for supporting policies that have drastically increased excess deaths. We previously highlighted the comments of Richard Sullivan, professor of cancer and global health and director of its Institute of Cancer Policy, who said that missed cancer treatments would claim more lives than COVID over the medium to long term. “The number of deaths due to the disruption of cancer services is likely to outweigh the number of deaths from the coronavirus itself over the next five years,” said Sullivan.

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Not players this time, and some people will say it happens all the time. The problem is not whether these things happen more, or even what causes them, the problem is we have no systems to keep track of this. Adverse events are a serious issue, and systems like VAERS are not serious systems.

Two Premier League Matches Hit By Medical Emergencies On Same Night (RT)

The Premier League match between Watford and Chelsea and the meeting between Southampton and Leicester both had to be halted due to medical emergencies in the crowd on Wednesday night. The game at Watford’s Vicarage Road was suspended for more than 30 minutes after a fan suffered a cardiac arrest during the first half. The players left the pitch as medical staff from both teams rushed to attend to the emergency. The two sets of players refused to continue with the match until they had received positive news on the fan, who was eventually stretchered out of the stadium and taken to the nearby Watford General Hospital for further treatment. The game was resumed just over half an hour later, with Chelsea going on to win 2-1 to maintain their position at the top of the Premier League table.


Both clubs shared messages of support for the fan who had been affected. Amid the distressing scenes, footage on social media appeared to show clashes in the Chelsea end of the stadium. There were also reports of unsavory chants regarding the emergency from some members of the crowd. Elsewhere, the second half of the match between Southampton and Leicester at St. Mary’s was delayed by around 15 minutes after a supporter was taken ill. The fan had collapsed during the interval but the issue was not said to be a cardiac arrest. The person received treatment inside the stadium before being taken to hospital. Earlier this season the game between Newcastle United and Tottenham was delayed when Magpies fan Alan George Smith collapsed in the stands during the first half.

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Soon there will be no more communication. That can’t be a good thing.

Russia Tells US Embassy Staff To Leave Moscow (RT)

American embassy workers who have been stationed in Moscow for over three years have been given just weeks to leave the country, Russia’s Foreign Ministry has announced, amid a growing row with Washington over diplomatic visas. Speaking at a briefing on Wednesday, diplomatic spokeswoman Maria Zakharova announced that “by January 31, 2022, employees of the US embassy in Moscow who have been on assignment for more than three years must leave Russia.” The news comes after Washington reportedly denied extending the visas of dozens of family members of Russian diplomats based in the US. According to Zakharova, “we consider the American move to be a clear expulsion and intend to react accordingly.”

She said that “such a game” was started by America’s policy decisions, rather than because Russia was eager to break off ties. “We tried long and hard to reason with them and direct them to some constructive solution to the issue, but they made their choice.” Earlier this week, Deputy Foreign Minister Sergey Ryabkov said Moscow would retaliate over the impasse. The two states have been embroiled in a long-standing spat over the number of diplomats that can be stationed in both countries. US President Joe Biden revealed last month that the amount of American staff in Russia had dwindled to 120 from 1,200 in early 2017, and said it was hard to continue operations there when limited to just a “caretaker presence.”

Washington has also ordered the closure of its consulates across the world’s largest country.Earlier this year, citing limits on hiring local staff, the US Embassy in Moscow stopped processing non-diplomatic visas and listed Russians as “homeless nationalities,” essentially forcing immigrant visa applicants to travel to third countries, such as Poland. Russia, however, has questioned why the US representative offices require so many employees to process consular documents.

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“..false accusations that Ukraine is supposedly preparing for a military attack in the Donbass.”

Just as false as those that Russia is?

Half of Ukraine’s Army Has Now Been Deployed To Donbass – Moscow (RT)

Ukraine has now stationed well over 100,000 troops and large quantities of hardware in the war-torn Donbass region, the Russian Foreign Ministry alleged on Wednesday morning, amid rising tensions. Speaking at a briefing on Wednesday, diplomatic spokeswoman Maria Zakharova claimed that “the Armed Forces of Ukraine are increasing [their] military force, pulling heavy equipment and personnel.” “According to some reports, the number of troops… in the conflict zone already reaches 125,000 people, and this, if anyone does not know, is half of the entire composition of the Armed Forces of Ukraine,” she said. Zakharova also condemned Ukrainian President Volodymyr Zelensky for submitting a bill to the national parliament that would allow units from foreign armed forces to enter the country as part of multinational exercises next year.

According to her, such a move directly contradicts the Minsk agreement, signed in 2014 in a bid to end the fighting between Kiev’s forces and troops loyal to two self-declared breakaway republics. The broadside from the Russian Foreign Ministry comes amid concerns from the Kremlin surrounding the alleged deployment of American anti-tank missiles in the region close to Russia’s borders. At the end of November, the head of Ukraine’s military intelligence service, Kirill Budanov, said advanced US-made Javelin systems had been tested by Kiev’s troops and had been deployed to Donbass. A few hours later, Russian Foreign Minister Sergey Lavrov stated that it was a concerning development that increased the prospect of a full-blown conflict in the region. “In recent weeks, we have seen a stream of consciousness from the Ukrainian leadership – especially when it comes to the military – that is excessively inflamed and dangerous,” he said.

However, Lavrov’s Ukrainian counterpart, Dmitry Kuleba, denied all claims that his country’s troops could soon launch an offensive there and said Kiev’s officials were “committed to finding a political and diplomatic solution to the conflict.” He accused Russia of increasing “intensity of disinformation, including false accusations that Ukraine is supposedly preparing for a military attack in the Donbass.”

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What do you see? A man running in the snow, or something else?

 

 

 

 

Support the Automatic Earth in virustime; donate with Paypal, Bitcoin and Patreon.

 

Oct 142021
 


Pieter Bruegel the Elder Children’s games 1560

 

Pfizer’s COVID-19 Vaccine With Comirnaty Label Still Not Available in US (ET)
Modelling: Covid Cases Could Peak At 5,300 A Week In Auckland Next Year (G.)
Aspirin Not Recommended For Most Adults To Prevent Heart Attacks (Hill)
Unexpected Allies (Ishmael)
Southwest CEO Says No Employees Will Be Fired Over Vaccine Mandate (AmG)
Chicago Police Union Head Urges Cops To Defy Vaccine Mandate (AP)
Vaccine Mandate Challenges Falter, Judges Shrug At Natural Immunity (JTN)
Victoria Nuland Is In Moscow Negotiating The Status Of Ukraine’s Donbass (ZH)
The Hidden $150 Trillion Agenda Behind The Climate Change “Crusade” (ZH)
Wall Street’s Takeover of Nature Advances with Launch of New Asset Class (Webb)

 

 

In England during weeks 36 to 39 in 2020, there were 571 COVID deaths.
In the same period in 2021, there were 3,026 COVID deaths.
2,281 (75%) of these deaths were fully vaccinated, i.e. >= 14 days post dose 2.

 

 

Rogan and Gupta

 

 

“You cannot interchange BioNTech’s Cominarty with Pfizer’s [shot] from a legal standpoint. They are legally distinct.”

What an odd game this has become.

Pfizer’s COVID-19 Vaccine With Comirnaty Label Still Not Available in US (ET)

Officials in 19 states confirmed this week to The Epoch Times they have not received doses of Pfizer’s COVID-19 vaccine labeled Comirnaty. So did pharmacies in New York, California, and Missouri. A Pfizer spokesperson told The Epoch Times in an email that there are no doses of Comirnaty in the United States as of Oct. 12. “The FDA-approved Comirnaty and the EUA-authorized Pfizer-BioNTech COVID-19 vaccine have the same formulation and, according to the FDA labeling, can be used interchangeably to provide the COVID-19 vaccination series,” a Pfizer spokesman told The Epoch Times. However, lawyers representing clients challenging vaccine requirements, say the lack of availability means vaccine mandates based on the Food and Drug Administration (FDA) approval are unlawful.

“Under the emergency use authorization, everyone has an option to accept or refuse the product. And that means every person, military and civilian. So this is critical. All of the mandates, from the military to the civilian population, are violating federal law,” Mathew Staver, chairman of Liberty Counsel, a Christian legal group, told The Epoch Times. The situation would be different if Comirnaty was available, Staver said. “You cannot interchange BioNTech’s Cominarty with Pfizer’s [shot] from a legal standpoint. They are legally distinct.” Contact with state and federal officials and pharmacies revealed widespread confusion regarding the differences between the approved Pfizer-BioNTech vaccine and the version that received emergency use authorization (EUA) in December 2020 and continues to be administered under EUA now.

A number of officials were unaware of any differences and others insisted they were the same for all intents and purposes, including several officials with the Department of Health and Human Services (HHS), which handles distribution of COVID-19 vaccines. “It’s the same thing,” an HHS official told The Epoch Times. That’s a different message than that being sent to states, some of which have been told by federal officials not to expect doses of Comirnaty for a while. “The CDC anticipates that Comirnaty will begin to ship some time in November at the earliest,” a spokesman for the Arizona Department of Health told The Epoch Times in an email, referring to the Centers for Disease Control and Prevention. “The Maryland Department of Health has been told by the CDC that Comirnaty will not ship until the end of October/beginning of November,” a spokesman with the Maryland Department of Health told The Epoch Times in an email.

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What a success story!

Modelling: Covid Cases Could Peak At 5,300 A Week In Auckland Next Year (G.)

New Zealand is preparing to face up to 5,300 cases of Covid-19 a week in Auckland and the neighbouring region of Northland alone next year, even with a vaccination rate of 90%, according to modelling from the Ministry of Health. The minister of health, Andrew Little revealed the plan for how the health system could manage a surge in cases after the current vaccination drive, as the country recorded 71 new cases on Thursday. It includes upping intensive care (ICU) beds, preparing to relocate health staff to smaller regions if an outbreak emerges, giving nurses preemptive ICU training and preparing to support people recovering at home.


The number of people in ICU and high dependency units (HDU) is currently at roughly two-thirds of capacity and 16% of available ventilators are being utilised. The capacity ICU and HDU beds nationwide can be surged to 550 beds from its current capacity of 320-340 beds. Ministry of Health chief medical officer Andrew Connolly said the system is well prepared, but any system would be overwhelmed if the numbers became too great. Between 0.2 and 0.4% of Delta patients will require ICU care, while the others may need a “short, sharp burst” of hospital-level care, Connolly said. Providing vaccination levels are high, the vast number of cases would be able to recover at home in the future, with about 5% needing hospital care, Little said.

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Mere days after it was recommended for Covid. Next week: vitamin D.

Aspirin Not Recommended For Most Adults To Prevent Heart Attacks (Hill)

An influential U.S. panel of experts changed its recommendations for people who take low dosages of aspirin in order to prevent first heart attacks or strokes. The U.S. Preventative Services Task Force in a draft proposal released Tuesday recommended that adults ages 40 to 59 should only be taking low dosages of the blood thinner if their physician determines that they are at high risk for cardiovascular disease. Aspirin acts as an anticoagulant, which means it aids in preventing blood clots from forming, which is how heart attacks and strokes typically develop. Taking daily doses of aspirin was thought to lower the risk of these clots, and therefore lower the risk of heart disease and stokes.

In addition, the new guidance detailed in the draft recommends that people over the age of 60 not take aspirin to prevent first heart attacks or strokes. Previously, guidance had recommended a daily regimen of low-dose aspirin for people over the age of 50 who were at higher risk for heart attacks or strokes in the next decade, as long as they were not at a higher risk of bleeding. This move marks the first time that a U.S. health task force has recommended that adults in their 40s speak with their doctors about aspirin for heart health. This draft recommendation does not apply to people who have already suffered a heart attack or stroke. The task force still recommends that those people take aspirin preventatively.

“The latest evidence is clear: starting a daily aspirin regimen in people who are 60 or older to prevent a first heart attack or stroke is not recommended,” Tseng said in a statement. “However, this Task Force recommendation is not for people already taking aspirin for a previous heart attack or stroke; they should continue to do so unless told otherwise by their clinician.”

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Ishmael is Karl Denninger’s alter ego.

Unexpected Allies (Ishmael)

Strikes and quitting jobs are the last peaceful means left before the guns and gasoline come out. If the right 10% of Americans quit, the ones who move people and freight around the country, clown world would disappear in a week. Even idiots in D.C. will understand when their grocery store shelves are bare. When planes and trains don’t move, they’ll get it. Those folks have the ability to end it the quickest, but what about everyone who doesn’t work in transportation? Same thing, strikes and walkouts work. Twenty percent of the workers at any job do 80% of the work. If you’re in the 20%, you leaving throws things into chaos. Oh, the company might not realize it for a while since many have a lot of vacation and sick leave to burn before slamming the door. Companies who pontificated how replaceable everyone is are going to find out the hard way they’re wrong.

Oops. When 80% of the money and productivity walk out the door they can’t import an H1B or hire a recent college grad. Training? Forget it. The company is stuck with a huge, gaping knowledge hole and the only one capable of training the replacement walked out the door! Don’t have one of those sexy jobs? You might be part of the 20% and not realize it. This could be as simple as being the only person who knows how to order supplies in a timely manner or does all the little things everyone takes for granted but no one knows exactly who does it. The secretary throws sand into the gears on her way out because a design engineer has to figure out how to order post-its. And God help you if the person who walks is in payroll. Whoever you are, you have the ability to bankrupt the company.

Who are your allies? What pool of people out there are most likely to act along with you (striked and quitting)? Some allies are obvious: folks in the “ain’t no way, no how, no body jabbing me,” crowd are natural allies. Their actions perfectly align. Jab mandate? Good-bye, and the door will not hit them on the way out. Some people got the first round of clot shots, but don’t believe in mandates. If they strike or walk, they’re allies. Some will, some won’t. If they are supportive, they aren’t enemies, which counts for something. Some want you to take the jab because they did. These are not allies. They range from idiots to true believers. Don’t engage with idiots. Don’t explain how to pour water out of a boot, they’ll never acknowledge the boot or water exist. Save your energy for the enemy: the true believer. There’s the pool of potential allies.

Looks pretty shallow: purebloods with ****-you money and maybe a few sympathizers. Remember the 20% rule and don’t lose hope. But wait purebloods, there is another group of natural allies: Those who got ****ed by the vax and survived (so far). People whose loved ones face expensive health problems are going to sit this one out. The parent who was “so proud” of their kid for getting the clot shot only to have him end up in the ICU with a heart attack? They are going to do whatever it takes to pay for the best treatments possible, including ****ing themselves up the ass to keep their insurance. These are not the allies. The working adults who got screwed by the vax are. Screwed. Hospitalizations, cancer, autoimmune disorders, permanent disabilities. Not sick for three days, screwed by life altering side effects. Why are they allies? ALLIES ACT. The act is “not working.”

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Mixed messages at best.

Southwest CEO Says No Employees Will Be Fired Over Vaccine Mandate (AmG)

During an interview with ABC News Tuesday, Gary Kelly, the CEO of Southwest Airlines, stated that no employees will be fired over the company’s vaccine mandate. However, the airline announced on October 4 that all 56,000 U.S. Southwest employees needed to get vaccinated against COVID-19 by November 24, or face termination. The CEO also told ABC’s George Stephanopoulos that there was “no evidence” that any type of demonstration against the mandate had contributed to the massive service disruptions over the holiday weekend. Over 2,000 Southwest flights were cancelled, leaving tens of thousands of passengers stranded. “There’s just no evidence of that,” Kelly said. “Our people are working very hard, they’re doing a great job, I’m very proud of them.”

He did acknowledge that the vaccine mandate is “very controversial,” and not something he wanted for his company. “This is a government mandate, it’s a presidential order, and we’re doing our best to comply with that according to the deadlines that have been set,” Kelly said. The CEO told employees last week that the airline had no choice but to comply with the regime’s vaccine mandate. “Southwest Airlines is a federal contractor and we have no viable choice but to comply with the U.S. government mandate for employees to be vaccinated, and — like other airlines — we’re taking steps to comply,” Kelly said. An executive order was issued last month requiring all federal employees to get vaccinated, but no executive order, or federal regulation has yet been issued for private companies.

Joe Biden on September 9 unveiled his draconian plan to force all private businesses with more than 100 employees to make their workers get inoculated with the experimental COVID vaccines, or face weekly testing. A month later, no official guidance on the alleged mandate has been issued by the White House, the Occupational Safety and Health Administration (OSHA), or the Department of Labor. During his interview on ABC Tuesday, Kelly stated that Southwest would not be terminating any employees who refuse the injections. “We’re not going to fire any employees over this. We’re urging all of our employees to get vaccinated. If they can’t get vaccinated, we’re urging them to seek an accommodation, so we’ll do everything we can to support our people here,” he said. The guidance below went out to all Southwest employees on October 4:

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“I do not believe the city has the authority to mandate that to anybody, let alone that information about your medical history.”

Chicago Police Union Head Urges Cops To Defy Vaccine Mandate (AP)

The head of the Chicago police officers union has called on its members to defy the city’s requirement to report their COVID-19 vaccination status by Friday or be placed on unpaid leave. In the video posted online Tuesday and first reported by the Chicago Sun-Times, Fraternal Order of Police President John Catanzara vowed to take Mayor Lori Lightfoot’s administration to court if it tries to enforce the mandate, which requires city workers to report their vaccine status by the end of the work week. After Friday, unvaccinated workers who won’t submit to semiweekly coronavirus testing will be placed on unpaid leave.

Catanzara suggested that if the city does enforce its requirement and many union members refuse to comply with it, “It’s safe to say that the city of Chicago will have a police force at 50% or less for this weekend coming up.” In the video, Catanzara instructs officers to file for exemptions to receiving the vaccine but to not enter that information into the city’s vaccine portal. He said that although he has made clear his vaccine status, “I do not believe the city has the authority to mandate that to anybody, let alone that information about your medical history.”

During a news conference Wednesday, Lightfoot accused Catanzara of spreading false information and dismissed most of his statements as “untrue or patently false.” She said COVID-19 vaccines are proven to be effective and that getting vaccinated would protect city workers and their families. “What we’re focused on is making sure that we maximize the opportunity to create a very safe workplace,” Lightfoot said. “The data is very clear. It is unfortunate that the FOP leadership has chosen to put out a counter narrative. But the fact of the matter is, if you are not vaccinated, you are playing with your life, the life of your family, the life of your colleagues and members of the public.”

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Hot potatoes.

Vaccine Mandate Challenges Falter, Judges Shrug At Natural Immunity (JTN)

Legal challenges to COVID-19 vaccine mandates on the basis of natural immunity are faltering, even as more research shows the comparable durability of the protection that natural antibodies afford against infection. U.S. District Judge Paul Maloney denied a preliminary injunction Friday against Michigan State University’s mandate, citing an order last month that left in place the University of California’s mandate as litigation proceeds. The course of litigation seems to be substantiating a warning by University of Notre Dame Law Professor Gerard Bradley, a vocal critic of mandates, that judges would be “very wary” of lawsuits that are “very heavily dependent upon medical facts and statistics.”

Religious challenges are faring better. A federal judge Tuesday blocked New York Gov. Kathy Hochul from removing religious exemptions from a vaccine mandate for healthcare workers originally imposed by her predecessor, the disgraced Andrew Cuomo. Illinois Gov. J.B. Pritzker is also seeking to “clarify” a state law that bans discrimination by public or private institutions based on a person’s “conscientious refusal to receive” healthcare services. Pritzker’s spokesperson told ABC 7 the Health Care Right of Conscience Act is at risk of being “misinterpreted by fringe elements.” The Fraternal Order of Police said it’s considering invoking the law against Chicago Mayor Lori Lightfoot’s COVID vaccine mandate for city employees.

As noted by the New Civil Liberties Alliance (NCLA), which is representing MSU employee Jeanna Morris, Judge Maloney previously issued an injunction against a vaccine mandate that violated the religious beliefs of student athletes, who “had no immunity whatsoever.” The public interest law firm didn’t answer a query from Just the News on whether it plans to revisit its litigation strategy in the wake of these setbacks. Its first natural immunity challenge prompted George Mason University to issue a medical exemption to law professor Todd Zywicki, but the vaccine mandate remains in force. The latest study to verify the protective power of natural immunity was published this week in the Journal of the American Medical Association Internal Medicine.

In a study of more than 800,000 Swedish families, Scandinavian university researchers found that family members without “immunity” — prior infection or vaccination — had a 45-97% lower risk of COVID infection “as the number of immune family members increased.” “The results were similar for the outcome of COVID-19 infection that was severe enough to warrant a hospital stay,” they wrote. Notably, the researchers weren’t able to perform a sensitivity analysis in fully vaccinated individuals because too few participated in the study. Vaccination is also proving insufficient to protect older people, according to U.K. government figures published last week that showed fully vaccinated older age groups now had higher infection rates than unvaccinated younger age groups.

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In what context do you send someone that you know the other side absolutely despises?

Victoria Nuland Is In Moscow Negotiating The Status Of Ukraine’s Donbass (ZH)

Look who’s back in Eastern Europe – this time forced to deal directly with the Kremlin after a half-decade of military and political stalemate in war-torn eastern Ukraine. Victoria “F*ck The EU” Nuland is currently in Moscow for high-level talks with top Russian officials. Among multiple tense issues, there’s reportedly been progress on the situation in eastern Ukraine, related to working out a potential lasting political settlement leading to the cessation of violence there. As Biden’s Under Secretary for Political Affairs, Nuland kicked off three days of talks Tuesday and into Wednesday with Yury Ushakov, the top foreign policy aide to Putin. Interestingly the Kremlin agreed to a temporary lifting of travel sanctions against her just to enter the country for the meeting.

After initial meetings, Nuland hailed “the frank, productive review” of US-Russia relations, noting that the two sides are “committed to a stable, predictable relationship,” according to a US Embassy statement. On Tuesday after her arrival she had met with Deputy Foreign Minister Sergey Ryabkov, reportedly for more than an hour-and-a-half. The US side has indicated “no breakthroughs” in US-Russia relations as of yet, which comes after a year of sanctions and counter-sanctions targeting diplomats and mutual restrictions on media entities. It’s among the highest level meetings since Putin and Biden’s June summit in Geneva where the two leaders pledged better, frank and open communication – given Nuland is the number three highest official at the State Department.

While the American delegation hasn’t commented to this level of specifics, Russian media is citing Kremlin deputy chief of staff Dmitry Kozak as saying after Wednesday meetings that “A thorough and constructive dialogue took place regarding the settlement of the conflict in south-east Ukraine.” Kozak told the top daily newspaper Kommersant that there’s general agreement over mutual recognition of special autonomy for Donbass – where the Russia-backed, self-proclaimed Donetsk People’s Republic and Lugansk People’s Republic have been in a military stalemate with Ukrainian national forces for the past six years: “It was confirmed that the Minsk agreements remain the only basis for a settlement,” he continued. “During the talks, the US confirmed its position… that significant progress towards the settlement of the conflict is unlikely without any agreement on future parameters of Donbass autonomy. In other words, giving the region a special status within Ukraine.”

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You’ll own nothing and you’ll be happy.

The Hidden $150 Trillion Agenda Behind The Climate Change “Crusade” (ZH)

Responding rhetorically to the key question, “how much will it cost?”, BofA cuts to the case and writes $150 trillion over 30 years – some $5 trillion in annual investments – amounting to twice current global GDP! At this point the report gets good because since it has to be taken seriously, it has to also be at least superficially objective. And here, the details behind the numbers, do we finally learn why the net zero lobby is so intent on pushing this green utopia – simple answer: because it provides an endless stream of taxpayer and debt-funded “investments” which in turn need a just as constant degree of debt monetization by central banks.

Consider this: the covid pandemic has so far led to roughly $30 trillion in fiscal and monetary stimulus across the developed world. And yet, not even two years later, the effect of this $30 trillion is wearing off, yet despite the Biden’s admin to keep the Covid Crisis at bay, threatening to lock down society at a moment’s notice with the help of the complicit press, the population has made it clear that it will no longer comply with what is clear tyranny of the minority. And so, the establishment needs a new perpetual source (and use) of funding, a crisis of sorts, but one wrapped in a virtuous, noble facade. This is where the crusade against climate change comes in.

Much digital ink has been spilled on the philosophy and debate behind the green movement, and we won’t bore you with the details, but we will instead focus on the very clear, and very tangible financial consequences of a world where the establishment agrees, whether with democratic support or not, to allocate $5 trillion in new capital toward some nebulous cause of “fighting global warming.” Here are the highlights from Bank of America:

• Will it be inflationary? Yes, expect 1-3% pa shock. This is for the next 30 years… over and on top of any already present inflation!
• What are the bottlenecks? Geopolitics, climate wars and EM.
• Do we have the resources? Nickel and Lithium are just two that could be in deficit as soon as 2024.
• Is green technology really green? Not really (see below).

Drilling down on the absolutely staggering costs, at an estimated $150 trillion over 30 years, boosting funding sources to $5tn a year is equivalent to the entire US tax base, or 3x the COVID-19 stimulus this decade. Here are the details: The energy transition to a net zero greenhouse gas (GHG) economy by 2050 will be a very expensive exercise, estimated by the IEA at $150tn of total investment, over a period of 30 year. At $5tn p.a, the IEA see it costing as much as the entire US tax base every year for 30 years. Not high enough for you? Hang on then because… BNEF has a higher estimate that the total investment needed for energy supply and infrastructure could be as high as $173tn through 2050, or up to $5.8tn annually, which is nearly three times the amount invested on an annual basis today.

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Nature exists to be exploited.

Wall Street’s Takeover of Nature Advances with Launch of New Asset Class (Webb)

Last month, the New York Stock Exchange (NYSE) announced it had developed a new asset class and accompanying listing vehicle meant “to preserve and restore the natural assets that ultimately underpin the ability for there to be life on Earth.” Called a natural asset company, or NAC, the vehicle will allow for the formation of specialized corporations “that hold the rights to the ecosystem services produced on a given chunk of land, services like carbon sequestration or clean water.” These NACs will then maintain, manage and grow the natural assets they commodify, with the end of goal of maximizing the aspects of that natural asset that are deemed by the company to be profitable.

Though described as acting like “any other entity” on the NYSE, it is alleged that NACs “will use the funds to help preserve a rain forest or undertake other conservation efforts, like changing a farm’s conventional agricultural production practices.” Yet, as explained towards the end of this article, even the creators of NACs admit that the ultimate goal is to extract near-infinite profits from the natural processes they seek to quantify and then monetize. NYSE COO Michael Blaugrund alluded to this when he said the following regarding the launch of NACs: “Our hope is that owning a natural asset company is going to be a way that an increasingly broad range of investors have the ability to invest in something that’s intrinsically valuable, but, up to this point, was really excluded from the financial markets.”

Framed with the lofty talk of “sustainability” and “conservation”, media reports on the move in outlets like Fortune couldn’t avoid noting that NACs open the doors to “a new form of sustainable investment” which “has enthralled the likes of BlackRock CEO Larry Fink over the past several years even though there remain big, unanswered questions about it.” Fink, one of the world’s most powerful financial oligarchs, is and has long been a corporate raider, not an environmentalist, and his excitement about NACs should give even its most enthusiastic proponents pause if this endeavor was really about advancing conservation, as is being claimed.

The creation and launch of NACs has been two years in the making and saw the NYSE team up with the Intrinsic Exchange Group (IEG), in which the NYSE itself holds a minority stake. IEG’s three investors are the Inter-American Development Bank, the Latin America-focused branch of the multilateral development banking system that imposes neoliberal and neo-colonalist agendas through debt entrapment; the Rockefeller Foundation, the foundation of the American oligarch dynasty whose activities have long been tightly enmeshed with Wall Street; and Aberdare Ventures, a venture capital firm chiefly focused on the digital healthcare space. Notably, the IADB and the Rockefeller Foundation are closely tied to the related pushes for Central Bank Digital Currencies (CBDCs) and biometric Digital IDs.

Read more …

 

 

 

 

 

 

 

 

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Apr 212021
 


Mark Chagall I and the village 1911

 

 

Joe Biden declares a “national emergency”, calls Putin a killer, slaps more sanctions on Russia, for which he has his Foreign Secretary Antony Blinken declare that “Today, we announced actions to hold the Russian Government to account for the SolarWinds intrusion, reports of bounties on U.S. soldiers in Afghanistan, and attempts to interfere in the 2020 U.S. elections,” … and then “invites” Putin for a summit.

For the SolarWinds “intrusion”, the US has never provided any evidence at all, the Russian bounties story was -finally- fully debunked well before Blinken made his statement -which makes him look very incompetent-, and the election interference narrative is by now just too dumb to even get into. No evidence for it whatsoever after 2 years of the Mueller investigation, but now Putin’s at it again? Who did he want to win, then? Trump again, after apparently not even trying in 2016?

Meanwhile, Ukrainian President Volodymyr Zelensky states that his country should urgently be made a full member of both NATO and the EU, and has his own proxy, Ukraine’s ambassador to Germany, Andriy Melnyk, solemnly claim that not just “The only possibility for this [to prevent alleged invasion plans] is for Ukraine to finally become a NATO member”, but also that “Ukraine has no other choice: either we are part of an alliance such as NATO and are doing our part to make this Europe stronger, or we have the only option – to arm by ourselves, and maybe think about nuclear status again”.… And then Zelensky invites Putin for a summit. In the Donbass, no less.

These people are all as insincere as they possibly could be, but they trust that this doesn’t matter anymore. The western media have been planting the “Putin is a monster” seeds in their readers and viewers for many years now, and critical thought has long since left the building. Yes, that is the ultimate effect of what’s called propaganda, and as long as the sheeple “victims” don’t recognize it as such, it works like a charm.

 

I’ve been wondering for a long time why Boris Yeltsin appointed Putin as his successor in 1999, and I can’t find much information on it. Yeltsin was a US asset, and sold out his country to the CIA and a bunch of CIA-asset homegrown oligarchs. I’ve always suspected that when Yeltsin left, he felt a lot of regret for what he had done to Russia, and that maybe appointing Putin was his way to try and make up for that. I see people saying that Yeltsin thought Putin was pliable, but I think perhaps he knew exactly how Putin thought.

A “detail”: remember that after the collapse of the Soviet Union, male life expectancy for a period of time feel from a very steep cliff. And nothing Yeltsin did provided a solution to that crisis. Then, in August 1999, he appointed Putin as his prime minister, and didn’t leave a year later as planned, but 4 months later, in December. His chief of staff, Valentin Yumashev , who had hired Putin as his deputy in 1997, wrote his resignation speech:

Mr Yumashev was entrusted with writing Yeltsin’s resignation speech. “It was a hard speech to write. It was clear the text would go down in history. The message was important. That’s why I wrote the famous line ‘Forgive me’. “Russians had suffered such shock and stress during the 1990s. Yeltsin had to speak about this.”

Back to today. All economic -and other- sanctions against Russia since Putin first became president have led to one thing only: the country has dramatically increased its self-sufficiency. And in the process has upgraded its weapons arsenal to a level that no western country even comes close to, including the US, for maybe 10% of what the same US has spent on its own arsenal.

Russia’s latest generation of hypersonic missiles, against which no country has any defense, are far superior to what anybody else possesses. When they said recently they could take out a specific building in Kyiv if they wanted, they were not exaggerating. So yeah, look for Biden and Blinken and NATO et al to soon start using that superiority as a reason to incite more war vs Moscow.

A war they could never win, but that’s not the point any longer. One might argue of course that it never was after the advent of nuclear weapons. The whole point of NATO today, its raison d’être, is that it can create chaos wherever it goes and looks. It’s no longer capable of defending anyone from the Russian threat, but then that threat hasn’t been there for many years.

 

And NATO wants to continue existing, as does the Pentagon, and Boeing and Raytheon, it’s all about money, so they have to make up a threat, aided by their media brethren. That‘s why you see, from time to time, reports about Putin having yet another person “poisoned”, why governments in countries like the UK and Germany go along with the narrative, and why media in all other vassal states parrot these stories.

In that vein, the story this week out of Czechia, which expelled 18 Russian diplomats, kind of sets a new standard in absolute nonsense.

The Czech organised crime squad (NCOZ) said it was looking for two men using Russian passports in relation to the explosions. The passports bear the names of Alexander Petrov, born in 1979, and Ruslan Boshirov, born in 1978, and their holders are also wanted in Britain in connection with Skripal’s poisoning in Salisbury.

Mark Ames’ reaction to this on Twitter is so good, I’m not going to try to beat him to it: : “If I understand this right, apparently GRU thought it’d be smart to use the same 2 spies to carry out 2 separate deadly operations in NATOland – 2014 bombing in Czech Rep, 2018 Skripal poisoning – using exact same aliases & fake passports in both operations.”

Now that the west has lost its military superiority, all that’s left for it to claim is some sort of “intelligence superiority”, so it portrays Russians as really dumb people. Putin tries to poison one person after another, invariably people who are no threat to him at all, with the deadliest poisons on the planet, and fails time and again. Navalny is a US asset who gets 2% max of votes in a poll, Skripal is a former military intel officer who was allowed to go to the UK after being exposed as a double-agent (!), but they fit the 20+ year old narrative of Putin as Pol Pot. Stories. They are all that counts. Reality, not so much. Bernays and Goebbels are having a ton of fun in their own private hells.

So how will the Ukraine episode be resolved? Not easy. Making the world’s 2nd-most corrupt country a full member of NATO is out of the question, Russia will never accept that. Which is why the west is pushing it. Ukraine with nukes is even more preposterous, if that is possible (hard call). Dmitry Orlov suggested a “solution” the other day about which I have major question marks, but he’s Russian and I’m not, so take a look:

Putin’s Ukrainian Judo

The answer, I believe, is obvious: evacuation. There are around 3.2 million residents in Donetsk People’s Republic and 1.4 million in Lugansk People’s Republic, for a total of some 4.6 million residents. This may seem like a huge number, but it’s moderate by the scale of World War II evacuations. Keep in mind that Russia has already absorbed over a million Ukrainian migrants and refugees without much of a problem.

Also, Russia is currently experiencing a major labor shortage, and an infusion of able-bodied Russians would be most welcome. Domestically, the evacuation would likely be quite popular: Russia is doing right by its own people by pulling them out of harm’s way. The patriotic base would be energized and the already very active Russian volunteer movement would swing into action to assist the Emergencies Ministry in helping move and resettle the evacuees.

The elections that are to take place later this year would turn into a nationwide welcoming party for several million new voters. The Donbass evacuation could pave the way for other waves of repatriation that are likely to follow. There are some 20 million Russians scattered throughout the world, and as the world outside Russia plunges deeper and deeper into resource scarcity they too will want to come home.

While they may presently be reluctant to do so, seeing the positive example of how the Donbass evacuees are treated could help change their minds. The negative optics of surrendering territory can be countered by not surrendering any territory. As a guarantor of the Minsk Agreements, Russia must refuse to surrender the Donbass to the Ukrainian government until it fulfills the terms of these agreements, which it has shown no intention of doing for seven years now and which it has recently repudiated altogether.

[..] The West would be left with the following status quo. The Donbass is empty of residents but off-limits to them or to the Ukrainians. The evacuation would in no sense change the standing or the negotiating position of the evacuees and their representatives vis-à-vis the Minsk agreements, locking this situation in place until Kiev undertakes constitutional reform, becomes a federation and grants full autonomy to Donbass, or until the Ukrainian state ceases to exist and is partitioned. The Ukraine would be unable to join NATO (a pipe dream which it has stupidly voted into its constitution) since this would violate the NATO charter, given that it does not control its own territory.

Further sanctions against Russia would become even more difficult to justify, since it would be untenable to accuse it of aggression for undertaking a humanitarian mission to protect its own citizens or for carrying out its responsibilities as a guarantor of the Minsk agreements. The Donbass would remain as a stalker zone roamed by Russian battlefield robots sniping Ukrainian marauders, with the odd busload of schoolchildren there on a field trip to lay flowers on the graves of their ancestors. Its ruined Soviet-era buildings, not made any newer by three decades of Ukrainian abuse and neglect, will bear silent witness to the perpetual ignominy of the failed Ukrainian state.

Dmitry suggests 4.6 million people leave the Donbass so peace may be restored. But most of those people grew up there, and so did their families. And largely peacefully so, until the US and NATO, John McCain and Victoria Nuland and Geoffrey Pyatt, tried to take over Ukraine. Why should Russia, instead of protecting these people where they live, migrate them and protect them in Russia? Anyone ask for their own opinion?

There would be a giant empty piece of land where they once lived, in a kind of demilitarized zone? And what then? Nobody in Ukraine would come up with the idea to move into the empty land? And if they did, Russia would have to shoot them from Russian territory? I sort of see the reasoning of course, but not all of it. It only seems to work if you see Russia, and the Russians in the Donbass, as the aggressors.

Were they? Are they? Russia only sprung into action when the west tried to take away their sole warm water port, Sevastopol in Crimea. An election was held, and 97% of mostly Russians voted to be part of Russia. Yeah, that upset NATO and the other usual suspects, but that doesn’t make Russia an aggressor.

Russia has no reason to “invade” Ukraine. They don’t need even more territory, they’re already by far the largest nation on earth. Moreover, they don’t have the military to occupy large swaths of land. They only have the capacity to protect their own.

Thing is, they really got that down. So the only thing NATO can do, in its quest to prove it has reason to exist, is to create chaos, as I said before. But there is a problem with consciously creating chaos between nuclear powers, instead of maintaining communication channels, as the US and USSR always did during the Cold War. Do we all understand this means we are in a worse situation today than back then? That all those expulsions of diplomats only make the situation worse?

And that some fool could actually fire a nuclear missile because of that? Me, I’m not so sure anymore. Between the Covid virus and the US cancel culture, there are not that many western people paying attention to warmongers and NATO aka warheads. Not a good idea.

 

 

 

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Apr 092021
 
 April 9, 2021  Posted by at 8:52 am Finance Tagged with: , , , , , ,  44 Responses »


James McNeill Whistler Nocturne Blue and Gold Southampton Water 1872

 

European Rights Court Backs Mandatory Pre-school Jabs (BBC)
Obligatory Jabs ‘Necessary In Democratic Society’ (RTL)
B.1.1.7. Now Dominant Strain In US (JTN)
Global Spread And Infection Fatality Rates Of Covid-19 (Ioannidis)
Men Make More Covid-19 Antibodies And Keep Them For Longer (RT)
War on Cash: The Next Phase (Jim Rickards)
No Way US Could Enforce Global Minimum Corporate Tax on Rest of the World (Sp.)
Ukraine’s NATO Fantasy Is A Suicide Pill In Disguise (RT)
A Full-Scale War In Donbass Will Mean The ‘End Of Ukraine’ (RT)
Russia’s Hermitage Receives Official Complaint Over Naked Sculptures (RT)
Fermilab Results Prove Something Strange Is Happening to Reality (IE)
Bitcoiners Should Stand Up For My Brother, Julian Assange (Gabriel Shipton)

 

 

It appears that the vaccinated are at high risk of dying.

 

 

 

 

 

This is not about COVID vaccines. But the timing is very curious, because of course the court knows it will be presented as being about them.

While the “vaccines” are elementary different. Those for measles etc. have been properly tested and approved, those for Covid have definitely not.

European Rights Court Backs Mandatory Pre-school Jabs (BBC)

The European Court of Human Rights (ECHR) has backed the Czech Republic in its requirement for mandatory pre-school vaccinations. The case was brought by families who were fined or whose children were refused entry to pre-schools because they had not been vaccinated. In a landmark ruling, the court found that while the Czech policy interfered with the right to a private life, there was a need to protect public health. All the cases pre-date the pandemic. However, the issue of routine childhood vaccinations has come under increasing scrutiny due to the spread of Covid-19. This is the first ruling from the ECHR on compulsory vaccination against childhood diseases. The judges backed the Czech legislation by 16 to 1.

“The… measures could be regarded as being ‘necessary in a democratic society'” the court said, adding: “The objective has to be that every child is protected against serious diseases, through vaccination or by virtue of herd immunity.” Under the Czech rules, parents are legally obliged to vaccinate their children against a number of childhood diseases unless this is not possible for health reasons. However, the jabs cannot be forcibly given and unvaccinated children cannot be excluded on this basis once they reach primary school age. In one of the five cases involving pre-school exclusions, a family refused to allow their daughter to received the measles, mumps and rubella (MMR) jab.

The child joined the school in 2006 but her place was withdrawn two years later when the family doctor informed the headteacher that the child had not received the vaccination. A Czech court later backed the school’s decision on the grounds that allowing the child to continue to go to the pre-school could endanger others.Other parents had been refused pre-school places, while one father was fined for failing to fully vaccinate his children.

Read more …

A bit more on that court decision. And remember from The One Year Emergency, Feb 4::

1. Vaccination, like any medical action, requires citizen consent. Consent is not regarded as valid if it is not fully informed, nor “if it is the result of deceit, fraud or threat, or conflicts with the demands of decency” (Medical Code of Ethics, Greek law 3418/2005). Failing this, the consent is waived and the person/body who has exerted the pressure or extortion to vaccinate is subject to penal sanctions and/or civil damages in the event of harm.

2. Vaccination is not a prerequisite for the exercise of any other institutional requirement, such as education or otherwise recognized basic right such as the right to employment and free movement. Correspondingly, no private company has the legal authority to impose restrictions violating citizens’ constitutional rights. Discrimination and Stigmatization are forbidden (Universal Declaration on Bioethics and Human Rights, UNESCO). Moreover, imposition of a medical action in any manner constitutes torture and is illegal.

Obligatory Jabs ‘Necessary In Democratic Society’ (RTL)

The European Court of Human Rights (ECHR) on Thursday ruled that obligatory vaccinations can be seen as necessary in democratic societies, in a landmark judgement after a complaint brought by Czech families over compulsory jabs for children. “The… measures could be regarded as being ‘necessary in a democratic society'” the court said in its judgement, saying that the Czech health policy was consistent with the “best interests” of children. “The objective has to be that every child is protected against serious diseases, through vaccination or by virtue of herd immunity,” it added. As a result, the court ruled there had been no violation of Article 8 on the right to respect for private life of the European Convention on Human Rights. This is the first time that the ECHR has delivered a judgement about compulsory vaccination against childhood diseases.


Experts say it could have implications for any policy of compulsory vaccinations against Covid-19 in the pandemic. This judgement “reinforces the possibility of a compulsory vaccination under conditions of the current Covid-19 epidemic,” Nicolas Hervieu, a legal expert specialising in the ECHR, told AFP. In the Czech Republic, there is a general legal duty to vaccinate children against nine diseases, including diphtheria, tetanus, whooping cough, hepatitis B and measles. The case had been filed to the ECHR by Czech parents who were fined for failure to comply with this vaccination duty or whose children were denied admission to nursery school for the same reason. The need for a large level of herd immunity to quell the Covid-19 pandemic has prompted debate about the need for possible compulsory vaccinations in the face of scepticism among some populations worldwide about immunisation.

Read more …

“..60 times more contagious than the current strain and 67 percent more deadly..”

And these are merely the first variants.

B.1.1.7. Now Dominant Strain In US (JTN)

A highly infectious variant of COVID-19 is now the dominant strain of the virus in the U.S., according to the Centers for Disease Control and Prevention. The variant, B.1.1.7, began surging in the United Kingdom in December has since spread through Europe and to the United States, the federal agency said Wednesday. “Based on our most recent estimates from CDC surveillance, the B.1.1.7 variant is now the most common lineage circulating in the United States,” agency Director Dr. Rochelle Walensky said at the White House briefing.


Studies found the virus is 60 times more contagious than the current strain and 67 percent more deadly, according to the New York Times. In March, experts warned the variant would be the dominant strain by the end of the month. Now early into April, the CDC confirmed the hypothesis, according to CNN. Medical company Helix found that 58.9 percent of all new tests of COVID-19 were the new B.1.1.7 strain. Trends from Felix show that California and Florida have the two highest rates in the U.S. with 533 and 445 cases, respectively.

Read more …

“..average global IFR of ~0.15% and ~1.5-2.0 billion infections by February 2021..”

Global Spread And Infection Fatality Rates Of Covid-19 (Ioannidis)

Background – Estimates of community spread and infection fatality rate (IFR) of COVID 19 have varied across studies. Efforts to synthesize the evidence reach seemingly discrepant conclusions.

Methods – Systematic evaluations of seroprevalence studies that had no restrictions based on country and which estimated either total number of people infected and/or aggregate IFRs were identified. Information was extracted and compared on eligibility criteria, searches, amount of evidence included, corrections/adjustments of seroprevalence and death counts, quantitative syntheses and handling of heterogeneity, main estimates, and global representativeness.

Results – Six systematic evaluations were eligible. Each combined data from 10-338 studies (9-50 countries), because of different eligibility criteria. Two evaluations had some overt flaws in data, violations of stated eligibility criteria, and biased eligibility criteria (e.g. excluding studies with few deaths) that consistently inflated IFR estimates. Perusal of quantitative synthesis methods also exhibited several challenges and biases. Global representativeness was low with 78-100% of the evidence coming from Europe or the Americas; the two most problematic evaluations considered only 1 study from other continents. Allowing for these caveats, 4 evaluations largely agreed in their main final estimates for global spread of the pandemic and the other two evaluations would also agree after correcting overt flaws and biases.

Conclusions – All systematic evaluations of seroprevalence data converge that SARS CoV 2 infection is widely spread globally. Acknowledging residual uncertainties, the available evidence suggests average global IFR of ~0.15% and ~1.5-2.0 billion infections by February 2021 with substantial differences in IFR and in infection spread across continents, countries, and locations.

Read more …

“..coronavirus antibody levels were three times higher in men than women, despite no difference in symptoms reported, implying no difference in severity of past infection.”

Men Make More Covid-19 Antibodies And Keep Them For Longer (RT)

A Welsh study has found that men can create up to three times the number of coronavirus antibodies as women and tend to retain them for a longer period of time, complicating possible future Covid-19 immunity considerably. Researchers tested 739 asymptomatic staff at Cardiff Metropolitan University in July 2020 during the first wave of the pandemic and again three months later. Antibody production forms the foundation of immunity, and yet it remains unclear what quantity of coronavirus antibodies are produced across the population, how long they last and whether they provide adequate protection against reinfection, frustrating public policy initiatives and medical research alike.

Some 3.65% of the participants were found to have Covid-19 antibodies, slightly below the national average of between 4% and 6% at that time, and all participants reported feeling well and hadn’t been diagnosed with Covid-19. Participants reported only sporadic instances of some of the milder symptoms at various points in the previous three months. The researchers found no statistically significant difference between male or female participants who had antibodies at the initial point in the study, though men over the age of 40 did tend to have higher antibody prevalence than any other demographic. Among those who tested positive for Covid-19, however, coronavirus antibody levels were three times higher in men than women, despite no difference in symptoms reported, implying no difference in severity of past infection.

In the follow-up study three months later, among those previously found to have coronavirus antibodies, 21.7% no longer tested positive, suggesting that coronavirus antibodies are lost after six months. Some 80% of those who lost their antibodies entirely were women and tended to be, on average, ten years older than the women who managed to retain their antibody protection, suggesting some altered immune response related to the menopause.

Read more …

“..governments enjoy a monopoly on money creation, and they’re not about to surrender that monopoly to digital currencies like Bitcoin.”

War on Cash: The Next Phase (Jim Rickards)

With so much news about an economic reopening, a border crisis, massive government spending and exploding deficits, it’s easy to overlook the ongoing war on cash. That’s a mistake because it has serious implications not only for your money, but for your privacy and personal freedom, as you’ll see today. Cash prevents central banks from imposing negative interest rates because if they did, people would withdraw their cash from the banking system. If they stuff their cash in a mattress, they don’t earn anything on it; that’s true. But at least they’re not losing anything on it. Once all money is digital, you won’t have the option of withdrawing your cash and avoiding negative rates. You will be trapped in a digital pen with no way out. What about moving your money into cryptocurrencies like Bitcoin?

Let’s first understand that governments enjoy a monopoly on money creation, and they’re not about to surrender that monopoly to digital currencies like Bitcoin. Libertarian supporters of cryptos celebrate their decentralized nature and lack of government control. Yet, their belief in the sustainability of powerful systems outside government control is naïve. Blockchain does not exist in the ether (despite the name of one cryptocurrency), and it does not reside on Mars. Blockchain depends on critical infrastructure, including servers, telecommunications networks, the banking system, and the power grid, all of which are subject to government control. But governments know they cannot stop the technology platforms on which cryptocurrencies are based. The technology has come too far to turn back now.

So central governments don’t want to kill the distributed ledger technology behind cryptos. They’ve been patiently watching the technology develop and grow — so they could ultimately control it. Anyone who controls the money controls political power, the economy, and people’s lives. Enter the central bank digital currency, known as CBDC…

Read more …

Steve Keen.

No Way US Could Enforce Global Minimum Corporate Tax on Rest of the World (Sp.)

Although Janet Yellen’s plan to impose a global minimum corporate tax rate sounds like a good idea, it’s unlikely that she’ll succeed in getting a uniform law across the planet, says Steve Keen, honorary professor of economics at University College of London. On 5 April, US Treasury Secretary Janet Yellen advocated a global minimum corporate tax rate in order to stop multinational corporations from seeking tax havens as President Joe Biden plans to impose a 21 percent minimum tax on US companies’ foreign income, and raise the corporate tax rate to 28 percent to fund his bold infrastructure and climate plan. The treasury secretary revealed that US administration officials are working with G20 nations to agree to a global minimum corporate tax plan. Yellen’s remarks come ahead of the semiannual meetings of the IMF and World Bank set for this week.

“There’s good reason to impose uniform taxes around the world to stop companies doing tax evasion, which throws the burden of taxation on the working class and the middle class. So that’s in its own right. That is to be applauded,” says Steve Keen, honorary professor of economics at University College of London and author of “Debunking Economics.” If implemented, the plan could help address the system in which the wealthy “basically evade tax and leave it to the lower classes to pay for the state,” he suggests. “So something like this, which stopped corporations also using tax advantages to go offshore, maybe bring some corporations back onshore because it makes more sense to be as close as you can to a larger market that might well help boost America’s competitiveness with the rest of the world,” Keen presumes.

Obviously, the global minimum tax idea will be opposed by multinational corporations, according to the professor: “They’ll be outraged to begin with,” he says. “But they’ve always been champions of creative accounting.” [..] Axios suggests that Yellen’s push for imposing a global minimum tax means that the administration sees “the risks to the American economy if it acts alone in raising corporate rates.” “Competitiveness is about more than how US-headquartered companies fare against other companies in global merger-and-acquisition bids,” she argues. “It’s about making sure that governments have stable tax systems that raise sufficient revenue to invest in essential public goods and respond to crises.”

Still, Keen remains skeptical over the US administration’s ability to convince global governments to adjust their working tax systems to the US needs. “I don’t think it’s likely to happen at the global level there,” he says. “Americans often think that imposing their rules on the rest of the world is the best thing that can happen to the rest of the world. Most of the time, the rest of the world disagrees. So I think she can try as much as she likes, but there’s no way to enforce something like this.” The best Yellen can hope for is getting countries to reduce the number of tax havens or to penalise corporations that use them, the professor believes.

Read more …

Ukraine and NATO deploy troops and material to Donbass, in response Russia send their own to the border. Then Merkel calls Putin to demand he withdraws them.

Ukraine’s NATO Fantasy Is A Suicide Pill In Disguise (RT)

Ukraine’s President Zelensky hopes that NATO will assist Kiev in forcefully expelling Russia from Crimea and re-taking control of the breakaway Donbass. This dangerous fiction could lead to the destruction of his troubled country. The following are the words and actions that the historians who may one day come to write how mankind blundered its way into a major conflict in 2021 will need to know, to understand its origins and the parts played by the shortcomings and strategic missteps of ill-suited leaders. On March 24, 2021, Ukrainian President Volodymyr Zelensky signed into law Decree 117/2021, “On the Strategy of de-occupation and reintegration of the temporarily occupied territory of the Autonomous Republic of Crimea and the city of Sevastopol.”

While the stated primary goal of this decree is the “restoration of the territorial integrity of Ukraine within its internationally recognized state border, ensuring the state sovereignty of Ukraine,” the reality is that the issue of restoring Ukrainian “territorial integrity” is merely a vehicle toward “gaining full membership of Ukraine in the European Union and the North Atlantic Treaty Organization.” According to Zelensky, there is only one pathway for resolving the ongoing dispute between his nation and Russia over the status of the Crimea and the ongoing fighting in the pro-Russian eastern Ukrainian region of the Donbass. “NATO is the only way to end the war in Donbass,” Zelensky declared in a recent phone call with NATO Secretary General Jens Stoltenberg.

Zelensky called for the immediate implementation of a ‘Membership Action Plan’ delineating Ukraine’s entry path into the NATO alliance. Such a move, Zelensky noted, “will be a real signal for Russia.” Zelensky’s militant directive and blatant appeal for NATO membership did not go unnoticed by Russia. Nor did the deployment by the Ukrainian military of hundreds of armored vehicles and thousands of troops into the region, a fact that has been “under-reported” in the west. [..] The tension between Russia and Ukraine has resulted in a series of conversations between Ukrainian officials and their counterparts in the West which have sought to portray the country as the victim of Russian threats of aggression, and to publicly underscore the West’s support for Ukraine.

US Defense Secretary Lloyd Austin kicked this off, calling his Ukrainian counterpart on April 1 to express “unwavering U.S. support for Ukraine’s sovereignty” while condemning “Russian aggression” in the country. This was followed the next day by one between Joe Biden and Zelensky, where the US president “affirmed the United States’ unwavering support for Ukraine’s sovereignty and territorial integrity in the face of Russia’s ongoing aggression in the Donbass and Crimea.”

Read more …

We better hope Ukraine is not made a full NATO member.

A Full-Scale War In Donbass Will Mean The ‘End Of Ukraine’ (RT)

Russia will be forced to protect the residents of Donbass if Ukraine launches full-scale hostilities against the region. That’s according to Dmitry Kozak, President Vladimir Putin’s deputy chief of staff, who is himself Ukrainian. Speaking on Thursday, Kozak claimed that a ramping-up of the conflict would lead to the end of Ukraine, with the Kremlin forced to stand up for its citizens living in the territory of Donbass. In recent years, Moscow has made it much simpler for those living in Ukraine to get a Russian passport, and many have taken up the offer. “Everything depends on what the scale of fighting will be. If there is, as the president says, a Srebrenica, we will be forced to stand up for ourselves,” he said, referring to Putin’s comment in 2019 that he fears a genocide in Donetsk and Lugansk, if Kiev regains control of Donbass.

The Srebrenica massacre, which took place in 1995, was Europe’s worst atrocity since the end of World War II, and led to the death of more than 8,000 Bosnian Muslims. The Donbass, made up of the Donetsk and Lugansk Oblasts, is located in the east of Ukraine, next to the border with Russia. It has been the location of a civil war since 2014, with separatists now controlling large swathes of territory. Despite Moscow not recognizing the legitimacy of the breakaway Donetsk and Lugansk People’s Republics, Kiev accuses the Kremlin of supporting them. In recent days, videos shared on social media have shown a build-up of troops and military equipment on all borders of Donbass, causing an increase in fears that war may be around the corner. Both Ukraine and the self-proclaimed republics accuse each other of intensifying shelling.

“I support those assessments that exist within Ukraine that the start of hostilities is the beginning of the end for the country. This is a self-inflicted shot, a shot not in the leg, but in the temple,” Kozak said, noting that Kiev has refused to come to the table to negotiate peace. On Thursday morning, it was revealed by the office of Ukrainian President Volodymyr Zelensky that he is currently in the Donbass region, visiting troops on the front line, “where a comprehensive and sustainable ceasefire has been systematically violated.” According to Kozak, the visit by Zelensky is unlikely to lead to an escalation, but the Ukrainian leader is “playing with fire.”

On Thursday afternoon, Putin told German Chancellor Angela Merkel that Kiev had been purposely exacerbating the situation on the contact line. The Russian leader also said that Ukraine should stick to the peace agreement reached in 2015, and move towards implementing a special status for Donbass.

Read more …

Cancel culture goes global.

Russia’s Hermitage Receives Official Complaint Over Naked Sculptures (RT)

The Hermitage Museum in Russia’s Saint Petersburg has received an official complaint from a government agency suggesting that its nude sculptures may have a bad influence on children and might have to be put in an adult-only room. That’s according to Mikhail Piotrovsky, the museum’s general director, who refused to name which official body asked the institution to round up its naked figures. “I laughed once when someone told us: gather all your nude sculptures into one room and put up an ’18+’ sign so our children are not corrupted,” Piotrivsky said. “But now we have received an official complaint from an official body, so we are responding to it.”


The Hermitage, located in Saint Petersburg, is based in the Winter Palace, the former official residence of the Russian Emperors from 1762 to the revolution, in 1917. It is the second-largest art museum in the world. It has a world-class collection, including not only paintings by the likes of Leonardo da Vinci and Rembrandt, but also a Michelangelo marble sculpture and many Egyptian antiquities. In response to new revelations, controversial United Russia MP and native Petersburger Vitaly Milonov blasted the proposal as idiotic. “This is outright stupidity, it is not even worth talking about,” Milonov said. “If we’re talking about classical works, Michelangelo and many others, they do not fall under the category of ’18+’ in any way.”

Read more …

“..the possibility of a new particle or force working behind the scenes..”

Fermilab Results Prove Something Strange Is Happening to Reality (IE)

Scientists just revealed new findings from an experiment called Muon g-2 — designed to give answers to a strange discrepancy between theoretical predictions and real-tests and theoretical expectations from 20 years ago, according to a press release from the U.S. Department of Energy’s Fermilab. Following decades of speculation, an experiment showing an inexplicable discrepancy from the Standard Model was raised to a confidence level of 4.2 sigma — which means it has a 1 in 40,000 chance of being a statistical quirk — lending more strength to the worry that some unexplained particle or force may be responsible for the excess wobbling of muons not predicted by theoretical particle physics.

[..] The experiment involves particles called muons — which are much like electrons but 200 times the mass. Both electrons and muons have magnetic fields capable of revealing new and fundamental information about particle physics — and thus the universe itself. For decades, scientists have worked to build a viable theory in particle physics called the Standard Model — capable of explaining several of the forces and interactions that determine the motion and behavior of matter on the tiniest scales. But sometimes, gaps appear between the experimental findings and the Standard Model.

When scientists introduce muons to an external magnetic field, the internal magnet of muons begins to “wobble,” for which the Standard Model accounts. But a 2001 experiment from the Department of Energy’s (DOE) Brookhaven National Laboratory (BNL) proved that a muon’s magnet wobbles a lot more than theory predicted — which hinted at the possibility of a new particle or force working behind the scenes and creating this unforeseen property.

Read more …

Sunday it will be 2 years since Julian was dragged out of the embassy.

Bitcoiners Should Stand Up For My Brother, Julian Assange (Gabriel Shipton)

WikiLeaks and Bitcoin were both born of the cypherpunk movement. And it was in those embryonic days of the Cypherpunks Mailing List that Julian began his long intellectual interest and curiosity in Bitcoin. Julian participated in discussions and debate that cemented the cypherpunk movements values around freedom, privacy, mastery of technology and codified curiosity. Most of the suspected creators and earliest backers of Bitcoin belonged to or were inspired by this community of thinkers and tinkerers. In 2010, after publishing tranches of material on Bush- and Obama-era wars in Iraq and Afghanistan, rules of engagement, Guantanamo Bay detainee files and U.S. diplomatic cables, WikiLeaks was subjected to an extra-legal international banking blockade.

Under intense political pressure, Visa and Mastercard refused to process donations and banks and PayPal closed WikiLeaks’ and Julian’s accounts. It was under these circumstances that Satoshi (whoever they may be) made a plea to WikiLeaks to hold off on accepting this nascent digital currency for donations and thereby forgoing the attention that it could draw. Satoshi feared that Bitcoin would not be able to survive if the protocol faced the same scrutiny and political pressure that WikiLeaks was dealing with. Julian and WikiLeaks heeded Satoshi’s calls. After giving bitcoin six months to strengthen, in June 2011 WikiLeaks became the first large organization to adopt Bitcoin. That alignment saw bitcoin realize part of its founding principal as a financial tool, free from centralized political and institutional control.

Over the last 10 years, WikiLeaks has used its bitcoin donations to fend off attacks and blockades, both illegal and legal, by governments and corporations, to overcome the extra-legal banking blockade and be able to keep its archive online, continue to publish and remain censorship resistant. [..] Bitcoin and WikiLeaks are inherently anti-establishment. Both projects ask us to temper our faith in people and institutions and rely instead on publicly-verifiable information, on the basis that a better-informed population creates a freer and fairer society — it has championed those who share these ideals. “The hornets,” as Satoshi referred to them, have not been able to take down Bitcoin or WikiLeaks. They have, however, used other tools at their disposal. A decade of individual reputational attacks, plots to poison Julian and target his newborn baby, abuse of process in order to restrict his movement and speech.

[..] The U.S. appeal could be heard by the U.K. high court as early as May 2021. Another rejection of the extradition in the high court will be heard loud and clear by the U.S. Department of Justice and will be a rejection of censorship, regulations and the clandestine attacks that Julian has suffered over the last 10 years. Bitcoin and WikiLeaks are the utilities of a free internet. They are necessary for it to develop and thrive in a meaningful way. Both born out of the cypherpunk movement, Bitcoin and WikiLeaks have stayed true to their visions of decentralization and transparency. The power of the cryptocurrency community has grown exponentially. With that power comes a responsibility to defend Bitcoin’s core beliefs in the face of looming institutionalization.

Read more …

 

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Oz vax

 

 

 

 

Calvin Robinson
https://twitter.com/i/status/1379797221785341962

 

 

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Jun 202019
 


Caravaggio I musici 1595-96

 

The investigation into the crash of the MH17 Malaysia Airlines plane in East Ukraine was always compromised, right from the start. The crash on July 17 2014 came shortly after the “Euromaidan revolution” in Kiev – which first began in November 2013 and culminated in the ousting of elected president Yanukovich on 23 February 2014, happily helped along by John McCain, Victoria Nuland and then-US ambassador to Ukraine (now ambassador to Greece) Geoffrey Pyatt for the USA, as well as various EU actors.

Russia reacted by “annexing” Crimea – a large majority of whose people had voted for Yanukovich, thereby safeguarding its access to its only warm water port. Not a shot was fired there, but it was very different in East Ukraine (Donbass), where people -of Russian origin- also didn’t want to be subjected to a new regime under Nuland’s puppet Yatsenyuk -and later Poroshenko. They started a civil war which continues to this day.

It was in that heated political climate that the MH17 came down, killing all its 298 passengers, 196 of whom had the Dutch nationality. 3 weeks later, on August 8, a Joint Investigation Team (JIT) was formed, which was to be led by Holland, and to also include representatives from Australia, Belgium and Ukraine. Which is odd, since at that time, Ukraine certainly was a potential perpetrator of the downing.

Malaysia joined only in December, allegedly because only then did it finally agree to allow Ukraine, a nation that was a suspect, a veto over any conclusions that the team would publish. Malaysia had already been handed the black boxes by pro-Russian rebels in the area, and passed them on to the team in August. Summarized, the way the JIT was formed was highly curious. The countries even signed a secret agreement.

 

Immediately after the crash, people like then-US VP Joe Biden, as well as Frans Timmermans, then-Dutch Foreign Minister and today candidate for the EU top job, pointed the finger at Russia as the party responsible for shooting down the plane. Also curious, since there had been no investigation and the plane crashed in a civil war zone where access was almost impossible. There was talk at the time of the US having satellite images, but none have ever been produced.

In that atmosphere, the JIT yesterday, June 19 2019, held another press conference, in which it accused four men, three from Russia and one from Ukraine, of being “involved” in shooting down the plane. But again, almost 5 years after the incident, the team produced no evidence for its accusations, saying it will only be presented 9 months from now when a trial will start in the Netherlands.

It also again accused Russia of refusing to cooperate, though Russia has offered its help ever since the MH17 came down. It’s just not the help the people want who have accused the Russians since before there was any hint of evidence it was involved. And there still is no evidence. Russia has filed long and detailed reports on the incident despite being ignored, but these reports have been … ignored.

 

The trial will take place starting March 9 2020 without the accused, since Russia doesn’t extradite its citizens, and neither does Ukraine. Moreover, the one Ukrainian who is accused is thought to be in the Donbass, where the government has no access.

So this will be a show trial. And one must wonder why it is staged. What’s the use of a trial where defendants don’t defend themselves? Sure, the official line is they would love to have the men provide a defense, but that smells a bit too much like what has happened to Julian Assange. What are the odds of a fair trial when so many conclusions have been drawn at such early times?

There is not a soul in Europe west of the Russian border who doesn’t believe the Russians did it. The media take care of that. Nor is there in the US. But the Malaysian PM himself yesterday, again, said the team has proven nothing, and only provided hearsay. I kid you not, I read a piece on the BBC today that asked if the 93-year-old who lost 43 of his countrymen only said that because he wanted to sell palm oil to Russia.

And in the meantime, the evidence is not there, and won’t be for another 9 months, if ever, and the EU today added another year to its Russia sanctions over Crimea, and 4 men can deny their involvement all they want, but they can make their case only in March 2020, and only at a show trial, with international search warrants hanging over their heads.

 

The four men in question, by the way, are not accused of firing the BUK missile that supposedly downed the MH17. They are only accused of facilitating the transport of the missile and launcher from Russia to Ukraine -and back. The JIT Ukrainian team bases the entire story of that transport on serial numbers it says it has found.

On September 17 2018, the Russian Ministry of Defense in a YouTube response to a May 24 2018 JIT exhibition, said it had tracked down those serial numbers, 8868720, and 1318869032, and 9M38, and said both the launcher and missile corresponding to the numbers were purchased by Ukraine from Russia as far back as 1986, transferred there, and had never left the country since.

I get that information from a lengthy, deep-digging and highly recommended essay by Eric Zuesse, from December 2018, MH17 Turnabout: Ukraine’s Guilt Now Proven, which I’ve been reading the past few days, in which Eric says: “…if the JIT’s supplied evidence is authentic — which the Ukrainian team asserts it to be — then it outright convicts Ukraine. This is an evidentiary checkmate, against the Ukrainian side.”

Zuesse also details, in that article, contentions from multiple sources that, while the MH17 may have been hit with a BUK missile, it certainly wasn’t the only thing that hit it. There was at least one fighter jet seen close to the plane before it came down, as multiple eye-witness reports claim, and it is alleged that they fired on the cockpit for sure and perhaps other parts of the plane. It is an excellent article that is very well researched and chock-full of links to prove its points.

 

There are many things wrong with the MH17 investigation. Having the PM of one of your member investigative countries complain that after 5 years you produce only hearsay and no evidence may be the least of the worries. The Netherlands, as main victim, leading the investigation, is strange. How neutral could they be? Their Foreign Minister blamed Russia way before any investigating was done. And Holland was a main sponsor in the “Euromaidan revolution”, i.e. the ousting of an elected president.

Still, Ukraine’s position in all this must be the biggest warning sign. They stood a lot to gain from committing atrocities and then blaming Russia for them. Plus, Yatsenyuk and Nuland and the US and the EU were mightily angry that Russia had outsmarted them all over Crimea.

But instead of keeping Ukraine out of the investigation, they became a major contributor, and were even given veto rights on anything that came out of it, as far as we know the only party with such rights. If you present a crime novel or movie with ingredients like that, nobody would believe you. Such things don’t happen in real life.

 

 

 

 

Apr 062015
 
 April 6, 2015  Posted by at 9:16 am Finance Tagged with: , , , , , , , , ,  4 Responses »


G.G. Bain ‘Casino Theater playing musical ‘The Little Whopper’, NY 1920

7 Unfounded Fears About An Exit From The Euro (Beppe Grillo)
Teachers Warn Of ‘Victorian’ Poverty Among Pupils (BBC)
Once Over $12 Trillion, the World’s Reserves Are Now Shrinking (Bloomberg)
How Criminals Built Capitalism (Bloomberg)
Greek Political Unrest And Deepening Crisis Fuel Talk Of Snap Election (Guar.)
Greek Economy Staring At Recession Again (Kathimerini)
What Happens If Greece Defaults On Its IMF Loans? (Telegraph)
Greece and IMF Hold Talks on Crucial Debt Payment (NY Times)
Varoufakis Meets Lagarde: ‘Greece Will Pay All Creditors Including IMF’ (GR)
How Much Of Brazil’s Economy Got Lost In Petrobras Scandal? (Forbes)
Petrobras Woes Reach Europe, US (Bloomberg)
Japan’s Wary Manufacturers Resist Abe’s Urge To Splurge (Reuters)
The Inbred Bernanke-Summers Debate On Secular Stagnation (Steve Keen)
Leader Of Ukraine Neo Nazi Right Sector Appointed As Army Advisor (Zero Hedge)
Eastern Ukraine Leaders Appeal To Merkel, Hollane To End Embargo (DW)
Saudi Arabia Rejects Russian UN All-Inclusive Arms Embargo on Yemen (RT)
Record Gasoline Output to Curb Biggest US Oil Glut in 85 Years (Bloomberg)
UK Law Changed To Force Nuclear Waste Dumps On Local Communities (Guardian)

Beppe is not just an entertainer.

7 Unfounded Fears About An Exit From The Euro (Beppe Grillo)

1) Mortgages – Mortgages will be converted into the new currency the day we exit the Euro. For anyone with a variable interest rate, this will still remain linked to the Euribor and thus it will remain stable. In relation to mortgages, Italians will benefit.

2) Inflation – Just think that the goods (home, car, telephone) that we want to buy will come down in price. If we don’t spend, the economy stagnates. This is what is happening today with deflation. A low level of inflation is thus necessary to keep the economy going. On the other hand, it mustn’t be too high to avoid devaluing our ability to spend. This won’t happen because Italian products will become more competitive than foreign products and the products that we are obliged to import from abroad (for example: crude oil) have a limited impact on the final price (for example: in the last year the value of the Euro has fallen by about 25% in relation to the dollar, but the high level of customs duties on petrol, has meant that the effect has not been apparent).

3) Current account – Your current account in Euro will be converted into the new currency. But, just even today, you can have a different currency in your bank account. You will still be able to do that after the exit from the Euro. So you could have dollars, Euro, pounds sterling, francs or a new currency.

4) Government bonds – 95% of Italian State bonds will be converted into the new currency (given that 95% are issued in accordance with Italian legislation and so they would inherit the national currency). The State will pay out on them and will issue them in the new currency. Given the low yields and the high risk that we already see right now, Italian State bonds are not a good buy for an Italian citizen.

5) Transition from the Euro to the lira – There’ll probably be a 1 to 1 conversion with the new currency and it will then probably devalue a bit. The effect on prices will probably be that they stay the same as today but they will be given in the new currency.

6) Increase in the price of petrol – The price of petrol is a false problem as most of the price (64%) is paid in taxes. International prices of crude oil and the exchange rate only relate to 26% of the price. If we also consider that the price of crude oil is at a record low right now, an exit from the Euro will surely be no problem from this point of view.

7) Imports: increase in the prices of imported products – This problem, that is particularly important for technology products, can only be resolved by investing in innovation after the destruction of companies like Olivetti and the downsizing of Telecom Italia. Innovation is the only way to develop the country. Staying in the Euro is not going to help. Throughout history, we have exported and traded with the countries nearest to us, but not because they have the Euro, simply because they are the closest and the geographic location has made it easier to trade with them ever since the time of the Roman Empire.

However, the value of exports going into the countries using the Euro, has being going down ever since we joined the Euro. Just in 2007, those accounted for 60%, and today that’s now down to less than 50%. The only areas where the value of our exports is growing is outside the Euro zone as can be seen from research into Italian exports: “emerging markets currently represent the biggest proportion of our exports, while the importance of the Euro area has seen a significant fall“.

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While Cameron is boasting this huge recovery.

Teachers Warn Of ‘Victorian’ Poverty Among Pupils (BBC)

Teachers say they are seeing “Victorian conditions” with pupils arriving at school hungry and not wearing the right clothes needed for the weather. The NASUWT teachers’ union says schools and teachers are increasingly having to deal with the consequences of poor housing and poverty. Teachers reported bringing in their own food to school to give to children. The Conservatives said the number of children in poverty had fallen by 300,000 under the coalition government. The Liberal Democrats said they had helped families by introducing free school meals for all infant children. Tristram Hunt, Labour’s shadow education secretary, warned of the “quiet indignity of poverty that can wreak havoc with a child’s confidence”. He said poverty was one of the “biggest barriers” to pupils achieving in school.

Claims about poverty in the school-age population will be heard at the NASUWT teachers’ union annual conference in Cardiff. The union asked members for their experiences and received almost 2,500 responses. It was not a representative sample of teachers, but among those replying more than two in three reported seeing pupils come to school hungry. “Children in 2015 should not be hungry and coming to school with no socks on and no coats – some children are living in Victorian conditions – in the inner cities,” said one unnamed teacher. Almost one in four of the teachers who responded said they had brought in food for pupils who were hungry, and an even higher proportion had seen the school feeding pupils.

More than three in four had seen pupils arriving at school with “inappropriate clothing” such as no socks or coats in bad weather. Similar numbers claimed that a bad diet meant that pupils were unable to concentrate on their work. More children were being sent home with letters about unpaid school meals and pupils who were sick were still being sent to school because parents could not afford to take time off work, claimed teachers. The comments from the survey suggest teachers felt that they were having to cope with the wider problems linked to family hardship, such as children living in temporary accommodation or relying on food banks.

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All about emerging markets. They’re going to be steamrollered.

Once Over $12 Trillion, the World’s Reserves Are Now Shrinking (Bloomberg)

The decade-long surge in foreign-currency reserves held by the world’s central banks is coming to an end. Global reserves declined to $11.6 trillion in March from a record $12.03 trillion in August 2014, halting a five-fold increase that began in 2004, according to data compiled by Bloomberg. While the drop may be overstated because the strengthening dollar reduced the value of other reserve currencies such as the euro, it still underlines a shift after central banks – with most of them located in developing nations like China and Russia – added an average $824 billion to reserves each year over past the decade. Beyond being emblematic of the dollar’s return to its role as the world’s undisputed dominant currency, the drop in reserves has several potential implications for global markets.

It could make it harder for emerging-market countries to boost their money supply and shore up faltering economic growth; it could add to declines in the euro; and it could damp demand for U.S. Treasury bonds. “It’s a big challenge for emerging markets,” Stephen Jen, a former IMF economist, said. They “now need more stimulus. The seed has been sowed for future volatility,” he said. Stripping out the effect from foreign-exchange fluctuations, Credit Suisse estimates that developing countries, which hold about two-thirds of global reserves, spent a net $54 billion of this stash in the fourth quarter, the most since the global financial crisis in 2008. China, the world’s largest reserve holder, together with commodity producers contributed to most of the declines, as central banks sold dollars to offset capital outflows and shore up their currencies.

A Bloomberg gauge of emerging-market currencies has lost 15% against the dollar over the past year. China cut its stockpile to $3.8 trillion in December from a peak of $4 trillion in June, central bank data show. Russia’s supply tumbled 25% over the past year to $361 billion in March, while Saudi Arabia, the third-largest holder after China and Japan, has burned through $10 billion in reserves since August to $721 billion. The trend is likely to continue as oil prices stay low and growth in emerging markets remains weak, reducing the dollar inflows that central banks used to build reserves, according to Deutsche Bank.

Such a development is detrimental to the euro, which had benefited from purchases in recent years by central banks seeking to diversify their reserves, according to George Saravelos at Deutsche Bank. The euro’s share of global reserves dropped to 22% in 2014, the lowest since 2002, while the dollar’s rose to a five-year high of 63%, the International Monetary Fund reported March 31. “The Middle East and China stand out as two regions that are likely to face ongoing pressures to run down reserves over the next few years,” Saravelos wrote in a note. The central banks there “need to sell euros,” he said.

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By a gut named Clive Crook, no less.

How Criminals Built Capitalism (Bloomberg)

Whenever buyers and sellers get together, opportunities to fleece the other guy arise. The history of markets is, in part, the history of lying, cheating and stealing — and of the effort down the years to fight commercial crime. In fact, the evolution of the modern economy owes more than you might think to these outlaws. That’s the theme of “Forging Capitalism: Rogues, Swindlers, Frauds, and the Rise of Modern Finance” by Ian Klaus. It’s a history of financial crimes in the 19th and early 20th centuries that traces a recurring sequence: new markets, new ways to cheat, new ways to transact and secure trust. As Klaus says, criminals helped build modern capitalism. And what a cast of characters.

Thomas Cochrane is my own favorite. (He was the model for Jack Aubrey in Patrick O’Brian’s “Master and Commander” novels.) Cochrane was an aristocrat and naval hero. At the height of his fame in 1814 he was put on trial for fraud. An associate had spread false rumors of Napoleon’s death, driving up the price of British government debt, and allowing Cochrane to avoid heavy losses on his investments. Cochrane complained (with good reason, in fact) that the trial was rigged, but he was found guilty and sent to prison. The story is fascinating in its own right, and the book points to its larger meaning. Cochrane, in a way, was convicted of conduct unbecoming a man of his position. Playing the markets, let alone cheating, was something a man of his status wasn’t supposed to do.

Trust resided in social standing. As the turbulent century went on, capitalism moved its frontier outward in every sense: It found new opportunities overseas; financial innovation accelerated; and buyers and sellers were ever more likely to be strangers, operating at a distance through intermediaries. These new kinds of transaction required new ways of securing trust. Social status diminished as a guarantee of good faith. In its place came, first, reputation (based on an established record of honest dealing) then verification (based on public and private records that vouched for the parties’ honesty). Successive scams and scandals pushed this evolution of trust along.

Gregor MacGregor and the mythical South American colony of Poyais (“the quintessential fraud of Britain’s first modern investment bubble,” Klaus calls it); Beaumont Smith and an exchequer bill forging operation of remarkable scope and duration; Walter Watts, insurance clerk, theatrical entrepreneur and fraudster; Harry Marks, journalist, newspaper proprietor and puffer of worthless stocks. On and on, these notorious figures altered the way the public thought about commercial trust, and spurred the changes that enabled the public to keep on trusting nonetheless.

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They’ll only do snap if the polls allow for it. Doesn’t look anywhere near.

Greek Political Unrest And Deepening Crisis Fuel Talk Of Snap Election (Guar.)

The worsening Greek debt crisis has reanimated talk within the ruling Syriza party of a snap general election if discussions with creditors fail, as the country faces a Thursday deadline to repay a €450m loan to the IMF. The Greek finance minister, Yanis Varoufakis, was scheduled to hold informal talks with the IMF’s managing director, Christine Lagarde, in Washington DC on Sunday, while warnings of early elections underscored the political unrest in Athens. The slow pace of negotiations with creditors and worsening state of the Greek economy brought a warning from the far-left Syriza of snap polls being held before the summer – just months after winning power. “If we are not satisfied [with the outcome] we will go to the people,” Kostas Chrysogonos, a prominent Syriza MEP told local media at the weekend.

“We have a popular mandate to bring about a better result,” he said of the talks aimed at concluding a reform-for-cash programme to keep the crisis-hit country afloat. “If, ultimately, creditors insist on following an inflexible line … then the electoral body will have to assume its responsibilities.” Varoufakis’ unexpected meeting with the IMF chief has been arranged as senior government officials repeated assurances that Greece was not about to to default on its debt repayments. The deputy finance minister, Dimitris Mardas, said the IMF payment would be made and civil service wages would be paid. “There is money for the payment of salaries, pensions and whatever else is needed in the next week.”

The prospect of renewed political strife in Greece coincided with mounting dissent within Syriza over the extent to which it should roll back on pre-electoral reforms. The anti-austerity government led by Alexis Tsipras has found itself increasingly cornered with creditors – the so-called troika – refusing to endorse proposed reforms under an extension of its €240bn bailout. Militants led by energy minister Panagiotis Lafazanis have ratcheted up the pressure by rejecting any notion of making necessary concessions starting with privatisations.

On Sunday, Lafazanis denounced Greece’s international creditors for treating the country with “unbelievable prejudice and as a colony”. Raising the prospect of a deal with Russia, he said, “A Greek-Russian agreement would help our country greatly in negotiations with lenders.” Despite assertions over the weekend that Sunday’s talks were part of the negotiation process, Athens is believed to harbour hopes that the IMF – which has proved to be a more conciliatory partner than either the EU or ECB in negotiations – will agree to cut the government some slack when Varoufakis discusses the reform programme with Lagarde. On Friday, Syriza’s parliamentary spokesman, Nikos Filis, also piled on the pressure saying Tsipras’ leftist-led coalition would prefer to pay salaries and pensions than bondholders if forced to make a choice.

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“The combination of a better-than-expected tax collection in March, the postponement of some budget expenditures and internal borrowing from some state entities and other sources made it possible for the government to pay both creditors and pensioners and civil servants last month.”

Greek Economy Staring At Recession Again (Kathimerini)

The Greek state may be able to service its debt and pay pensions and salaries to civil servants in April. However, the limited progress in negotiations between the government and the official creditors on the conclusion of the economic policy program increases uncertainty, reduces credit availability and adversely affects domestic demand despite less austerity. The economic damage has increased the risk of recession. The combination of a better-than-expected tax collection in March, the postponement of some budget expenditures and internal borrowing from some state entities and other sources made it possible for the government to pay both creditors and pensioners and civil servants last month. Greece paid an estimated €2.5 billion to the IMF and other creditors in March without including T-bills.

Assuming tax revenues remain on track and more general government entities lend part of their cash reserves to the state, we would expect Greece to be able to meet its obligations to creditors in April but it will face a tougher hurdle in May. It is reminded the state owes about 458 million euros to the IMF on April 9 and has to find an additional €700 million or so for T-bills maturing on April 14 which are held by international investors and most likely will not be rolled over. It will also have to pay €194 million to private bondholders on April 17 and €80 million to the ECB on April 20, according to Bank of America Merrill Lynch (BofA). Deputy Finance Minister Dimitris Mardas, who is in charge of the General Accounting Office, assured recently that the state will make the payment to the IMF on time and pay wages to some civil servants in the middle of the month.

This contrasts with leaks in the press, citing other government officials’ warnings that Greece would run out of money on April 9. Although no one disputes that the central government is in a tough financial position, some abroad suspect these warnings are also part of a Greek strategy to get some funding from the EU via the EFSF or indirectly from the ECB. Even if Greece is able to overcome this hurdle in April, it will have to pass another test in early May, assuming it has not reached an agreement with its creditors by then. It will have to pay €200 million to the IMF on May 1 and an additional €763 million on May 12, according to a recent report by BofA.

Of course, the country has shown that it intends to honor its obligations so far and could be able to continue doing so in the rest of April and even May to the extent that it is able to mobilize the cash reserves of state entities, collect more revenues than targeted in the adjustment program and postpone expenditures to suppliers and others for the future, building arrears.

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This will take until at least June. “According to IMF protocol, Greece would be afforded a 30-day grace period..” They’ll pay on April 9. The next payments are May 1 and 12. Add 30 days to that. That’s when payments to other creditors are due.

What Happens If Greece Defaults On Its IMF Loans? (Telegraph)

The Greek government faces another crucial deadline in its interminable bail-out drama this week, as fears mount that the country could become the first developed nation to ever default on its international obligations. After a harrowing March, cash-strapped Athens now faces a €448m payment to the IMF on Thursday. But with public sector wages and pensions to pay out, a cacophony of voices on Syriza’s Left have vowed to prioritise domestic obligations unless creditors finally unlock the remainder of its €240bn bail-out programme. “We are a Left-wing government. If we have to choose between a default to the IMF or a default to our own people, it is a no-brainer,” a senior Greek official told The Telegraph last week.

The rhetoric is a far cry from February, when Greece’s finance minister pledged his government would “squeeze blood out of a stone” to meet its obligations to the Fund. Yanis Varoufakis will now spend Easter Sunday with IMF director Christine Lagarde in a bid to gain some leeway on the country’s reforms-for-cash programme. Greece owes €9.7bn to the IMF this year. Missing its latest installment in order to pay out its social security bill on April 14, would see the country fall into an arrears process, unprecedented for a developed world debtor. Although no nation has ever officially defaulted on its obligations in the post-Bretton Woods era, Greece would join an ignominious list of war-torn nations and international pariahs who have failed to pay back the Fund on time.

What happens after April 9? Missing Thursday’s payment would not immediately trigger a default however. According to IMF protocol, Greece would be afforded a 30-day grace period, during which it would be urged to pay back the money as soon as possible, and before Ms Lagarde notifies her executive board of the late payment. Following this hiatus, a technical default could be declared a month later, when “a complaint regarding the member’s overdue obligations is issued by the Managing Director to the Executive Board”. In the interim, Greece may well stump up the cash having spooked creditors and the markets of the possibility of a fatal breach of the sanctity of monetary union. Should no money be forthcoming however, the arrears process may well extend indefinitely. Greece’s IMF burden would also start piling up, with the government due to pay another €963m by May 12.

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Very predictable.

Greece and IMF Hold Talks on Crucial Debt Payment (NY Times)

Mr. Varoufakis, from the moment he became finance minister this year, has gone out of his way to cultivate ties with Ms. Lagarde and has said that paying the fund was a priority for Greece. Over the last month, however, the economic situation in Greece has worsened greatly. Deposits worth about €25 billion have been withdrawn from Greek banks, some of which are now on life support with the European Central Bank. The government’s tax collections are also suffering as companies and consumers fret over the prospect that Greece might be forced to abandon the euro. Now, with Europe refusing to permit Greece access to temporary lines of liquidity — such as letting its banks issue more short-term treasury notes — Greece is running out of cash.

Which means that if it were to pay the fund €458 million this Thursday, there might not be enough left in the coffers to pay pensions and public sector wages the next week, some Greek officials say. Mr. Varoufakis, who came to power on a platform of ending the policy of putting the needs of Greece’s creditors above its suffering citizens, was to make the case to Ms. Lagarde that his government could not meet all of its commitments. “This government has made strong statements that they will meet their commitments,” said a person who was involved in the negotiations but was not authorized to speak publicly. The problem is, this person said, Greek officials have made commitments to their own people as well. “They are being pushed to the wall.”

There is some wiggle room. Even if Greece does not pay up on Thursday, it will not be in technical default as there is a 30-day grace period that could allow the government to pay its pension and wage obligations and strike a broader deal so that its creditors could disburse the needed funds. Mr. Varoufakis is also planning to meet with officials in the United States Treasury on Monday in the hope that the United States, as the dominant voice at the I.M.F., might pressure fund officials, and Europe as well, to cut Greece some slack. The United States has been quietly critical of Europe’s harsh stance toward Greece, warning of the consequences that a Greek default and exit from the euro would have on financial markets.

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Hollow phrases exercise.

Varoufakis Meets Lagarde: ‘Greece Will Pay All Creditors Including IMF’ (GR)

Greek Finance Minister Yanis Varoufakis said Greece will pay all its creditors, including the upcoming International Monetary Fund installment, as he was exiting a meeting with IMF managing director Cristine Lagarde in Washington, DC on Sunday April 5. Greece faces a deadline to repay a €450m loan to the International Monetary Fund on April 9th, and many sources had speculated that the crisis-hit country won’t be able to pay the installment. “Greece was a founding member of Bretton Woods institutions,” the Greek Finance Chief noted to reporters outside the IMF. Christine Lagarde made the following statement after the meeting: “Minister Varoufakis and I exchanged views on current developments and we both agreed that effective cooperation is in everyone’s interest. We noted that continuing uncertainty is not in Greece’s interest and I welcomed confirmation by the Minister that payment owing to the Fund would be forthcoming on April 9th.”

“I expressed my appreciation for the Minister’s commitment to improve the technical teams’ ability to work with the authorities to conduct the necessary due diligence in Athens, and to enhance the policy discussions with the teams in Brussels, both of which will resume promptly on Monday. I reiterated that the Fund remains committed to work together with the authorities to help Greece return to a sustainable path of growth and employment.” The Greek finance minister traveled to Washington, DC to hold an informal discussion on the Greek government’s reform program with the IMF’s managing director, Christine Lagarde. The Varoufakis-Lagarde meeting started at 6.15 pm on Sunday and lasted for two hours. The Greek Finance minister is also scheduled to meet with President Obama’s top economic and national security adviser Caroline Atkinson on Monday.

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Lowballing.

How Much Of Brazil’s Economy Got Lost In Petrobras Scandal? (Forbes)

A study out this week in Brazil estimates just how much the country lost to this ugly Petrobras oil scandal. The price tag: R$87 billion ($27.1 billion) that is expected to have been lost in GDP this year because of Petrobras’ corrupt, little ways. All told, that comes out to a little more than 1% of Brazil’s GDP burned up in scandal. Brazil’s GDP is about $2.2 trillion. The study was done by the Getulio Vargas Foundation. It based its estimates on Petrobras planned reduction in investments this year, which will hit oil and gas service firms, construction, engineering and consumer spending. Layoffs in construction will likely take at least R$13.6 billion from federal coffers this year. Two construction companies that colluded with Petrobras in the scandal, OAS and Galvao, have both filed for bankruptcy.

Construction companies are expected to reduce GDP by another R$10 billion, with the Foundation estimating a massive blood-letting in the job market, well into the thousands. Petrobras has yet to release earnings due to its third party auditors fearing repercussions if it signs off on phony accounts. So far, the market has April 30 as the date to discover just what Petrobras earned last year. But that can be delayed because shareholder lawsuits in New York have forced the Securities and Exchange Commission to review the earnings data before it is released to the market. The SEC will have their final say. At least three law firms have filed class action suits against the Brazilian oil giant. New York law firm Pomerantz is lead counsel on the case. Earnings will not include losses accrued from the scandal, the local Estado de Sao Paulo newspaper reported this week.

The newspaper also said that changes to the way auditors and regulators are reviewing Petrobras’ books might work in the oil firm’s favor. Last year, Deloitte said that Petrobras inflated its assets to the tune of R$88.6 billion. That number is expected to decline by at least half. Petrobras’ ex-CEO Maria Gracas Foster and her auditing firm PricewaterhouseCoopers are part of the shareholder lawsuit along with Brazilian bank Itau Unibanco. Estimates are for Brazil’s economy to contract by around 0.5% this year. “Brazil’s problems are all domestic and you can trace it to Petrobras,” says economist Alex Wolf at Standard Life Investments. “Consumer sentiment is down, unemployment is up slightly and investment is still down. We think Brazil is one of the most vulnerable emerging markets around.”

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“It’s a stark reversal from five years ago when a wave of European and US oil-services companies eagerly flocked to Brazil to build plants and set up offices.”

Petrobras Woes Reach Europe, US (Bloomberg)

When Italian oil services company Saipem spent $300 million at the start of the decade in Brazil, it joined a long list of foreign companies jockeying for business with Petrobras. Now it’s struggling to get paid. Saipem is one of at least five European companies that spoke about late payments, delivery delays or other difficulties in Brazil during fourth-quarter earnings calls. While day-to-day operations are functioning, Petrobras partners are also facing decision-making obstacles that are inhibiting planning, said officials at partners Galp Energia, BG Group and Repsol who asked not to be named. It’s a stark reversal from five years ago when a wave of European and US oil-services companies eagerly flocked to Brazil to build plants and set up offices.

Back then, Petrobras was ramping up investments to more than $100 million a day after making the Western Hemisphere’s biggest crude finds in decades. Today, Petrobras is slashing spending as oil prices plunge and it’s all but locked out of credit markets because of a sweeping corruption scandal. “Brazil’s a big market,” Terje Soerensen, CEO of Norwegian Siem Offshore, said in a telephone interview. “When that stops, it affects the entire industry.” Siem doesn’t know if the four to six vessels it had marked for Brazilian contracts will be needed now, Soerensen said. Saipem executives said in a February 16 earnings call that some payments from Petrobras were late. Norway’s Aker CEO Luis Araujo said in a March 17 interview that the company was asked to delay equipment deliveries.

Vallourec, a French oil-pipeline maker, and Alfa Laval, a Swedish oil industry engineering firm, also cited a difficult business environment in February conference calls. US oilfield-service providers Halliburton and Schlumberger echoed similar concerns. Halliburton sees activity continuing to decline in Brazil, President Jeff Miller said in a conference call earlier this year. The spending cuts Petrobras has announced will create “challenges” this year, Schlumberger CEO Paal Kibsgaard said.

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“But Japan’s bankers are laughing all the way to the…”

Japan’s Wary Manufacturers Resist Abe’s Urge To Splurge (Reuters)

Hirotoshi Ogura, a self-described “factory geek”, is Daikin Industries’ master of doing more with less – and part of the reason Japan’s recovery remains stuck in the slow lane. As Japan heads into the season of peak demand for room air-conditioners, Ogura and other Daikin managers have been tasked with figuring out how to boost output by some 20% at a plant in western Japan that six years ago the company had almost given up on as unprofitable. The wrinkle: they have no budget for new capital investment at the 45-year-old Kusatsu plant.

The still-evolving workaround shown to a recent visitor involves home-made robots for ferrying parts, experimental systems using gravity rather than electricity to power parts of the line, more temporary workers on seasonal contracts and dozens of steps to chip away at the 1.63 hours it takes to make a typical new air conditioner. “We can do a lot without spending anything,” says Ogura, a 33-year Daikin veteran who joined the company just after high school. “Anything we need, we first try to build ourselves.” Like Daikin, a number of Japanese manufacturers are shifting production back to Japan from China and elsewhere to take advantage of a weaker yen.

Rival Panasonic has pulled back some production of room air-conditioners, Sharp has brought back production of some refrigerators, and Canon has repatriated some output of high-end copiers, according to a list compiled by Nomura. But even as output recovers, Japanese companies remain cautious about new capital investment in factories and equipment. The trend is especially pronounced for smaller firms down the supply chain. After increasing capital spending by 6% in the just-completed fiscal year, small manufacturers plan a 14% decrease in the current year, according to the Bank of Japan’s quarterly survey released this week. Big manufacturers like Daikin plan a 5% increase, but overall investment remains 10% below pre-crisis 2007 levels.

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Economics and inbreeding.

The Inbred Bernanke-Summers Debate On Secular Stagnation (Steve Keen)

Ben Bernanke has recently started blogging (and tweeting), and his opening topics were why interest rates are so low around the world, and a critique of Larry Summers’ “secular stagnation” explanation for this phenomenon, and for persistent low growth since the financial crisis. Summers then replied to Bernanke’s argument, and a debate was on. So who is right: Bernanke who argues that the cause is a “global savings glut”, or Summers who argues that the cause is a slowdown in population growth, combined with a dearth of profitable investment opportunities, not only now but for the foreseeable future? I’d argue both of them, and neither simultaneously—both, because they can both point to empirical data that support their case; neither, because they are only putting forward explanations that are consistent with their largely shared view of how the economy works.

And the extent to which they are the product of a single way of thinking about the world simply cannot be exaggerated. It goes well beyond merely belonging to the same school of thought within economics (the “Neoclassical School” as opposed to the “Austrian”, “Post Keynesian”, “Marxist” etc.), or even the same sect within this school (“New Keynesian” as opposed to “New Classical”). Far beyond. They did their graduate training in the same economics department at the Massachusetts Institute of Technology (MIT). They attended the same macroeconomics class: Stanley Fisher’s course in monetary economics at MIT for graduate students (was it the same year—does anybody know?) Some of their fellow Fisher alumni included Ken Rogoff and Olivier Blanchard.

And that’s not all—far from it. Paul Samuelson (MIT) was overwhelming the intellectual architect of what most people these days think is Keynesian economics. Paul Samuelson is Larry Summers’ uncle. Samuelson’s “Foundations of Economic Analysis” was the core of the MIT approach to economics, and it became the model for economics textbooks around the world. Gregory Mankiw’s (PhD, MIT) market-dominating text today is a pale echo of Samuelson’s original. This group has been notably dismissive of other approaches to doing economics. Krugman (PhD MIT) leads the pack here, deriding views that are outside this mindset.

If I were describing a group of thoroughbred horses, alarm bells would already be ringing about a dangerous level of in-breeding. Sensible advice would be proffered about the need to inject new blood into this dangerously limited breeding pool. But the issue would only be of importance to the horseracing community. Instead I am talking about a set of individuals whose ideas have had enormous influence upon both the development of economic thought and the formation of economic policy around the globe for the last four decades. The fact that so much of the dominant approach to thinking about the economy emanates, not merely from such a limited perspective, but from such a limited and interconnected pool of people, should be serious cause for alarm – especially given how the world has fared under the influence of this thoroughbred group.

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Time to stop our support right here and now.

Leader Of Ukraine Neo Nazi Right Sector Appointed As Army Advisor (Zero Hedge)

With Greece on the verge of either getting kicked out of Europe or suffer through yet another government overhaul, one which many suggest may usher the “last” option for Greece, the ultra nationalist, neo-Nazi Golden Dawn party into governance, some wonder if it is not Europe’s ulterior intention to force a populist shift toward right wing, nationalist parties (perhaps best observed in France where Marine le Pen’s dramatic rise to power has left many dazed and confused) one which will lead to social instability and shortly thereafter, war (because in a world in which every Keynesian voodoo trick to revive the economy has failed, war is the last remaining outcome).

So while we await to see if Europe’s turn to ultra right wing movements accelerates in the coming months, we just learned of a very disturbing development in just as insolvent Ukraine, where moments ago the website of the local Ministry of Defense reported that Dmytro Yarosh, leader of Ukraine’s “Right Sector” political party, whose political ideology has been described as nationalist, ultranationalist, neofascist, right-wing, or far right, was just appointed as Advisor to Chief of General Staff. From the Ukraine ministry of defense:

Dmytro Yarosh appointed as Advisor to Chief of General Staff – Dmytro Yarosh, leader of ‘Pravyi Sector’ (Right Sector) political party, appointed as Advisor to Chief of General Staff. Yesterday, Colonel General Viktor Muzhenko, Chief of General Staff, and Dmytro Yarosh agreed the format of cooperation between ‘Pravyi Sector’ and the Ukrainian Armed Forces. Colonel General Viktor Muzhenko stressed the Ukrainian army had become one of the strongest armies of Europe; the Ukrainian soldiers proved they knew how to fight and appreciated the contribution of volunteer battalions to defense of Ukraine and said: “We understand the needs of changes and increase of efficiency at all the army levels. We also consider various models of formation of the army reserve.

We are developing the reforms and will implement them. We gathered all the patriots and defenders of Ukraine under single leadership. The enemy understands our unity and that its attempts end in failure. We have one goal and the united Ukraine. The Army becomes stronger each week”. Dmytro Yarosh underlined the unity was the key precondition for further successful fighting and demonstrated the readiness to establish the cooperation and integration of volunteer battalions to the Ukrainian Armed Forces. ‘Pravyi Sector’ is ready to be subordinated to military leaders in issues related to defense of state from the external enemy.

In other words, the leader of Ukraine’s Neo-Nazis will, as a local “patriot and defender of Ukraine” be advising, i.e., fighting for, what little remains of Ukraine’s army. Sadly the parallels with Europe of the 1920s and 1930s, not to mention the decade just following, grow more visible with every passing day.

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“..the UN warned in December that Kyiv’s embargo might be a violation of its obligations to citizens in the rebel-held territory.”

Eastern Ukraine Leaders Appeal To Merkel, Hollande To End Embargo (DW)

Alexander Zakharchenko and Igor Plotnitsky, the elected leaders of Donetsk and Luhansk, called for an end to Kyiv’s embargo on government services in eastern Ukraine on Saturday. In an open letter to Chancellor Angela Merkel and President Francois Hollande, they asked the leaders who helped negotiate the ceasefire in Ukraine to use their “influence to encourage Ukrainian offices to begin paying out welfare services to Donbass residents once again.” The government in Kyiv placed an embargo on social services to the country’s eastern residents in November following what it deemed illegal elections that gave power to Zakharchenko and Plotnitsky.

Although the EU, the US and the UN also condemned the polls, the UN warned in December that Kyiv’s embargo might be a violation of its obligations to citizens in the rebel-held territory. “The fate for many [in those areas] may well be life-threatening,” the Office of the UN High Commissioner for Human Rights said.” Kyiv had not only ceased paying out pensions, but had also relocated hospitals, schools and prisons, leaving a what the UNHCHR described as a “severe protection gap.”

The open letter to Merkel and Hollande also pointed to numerous violations of a ceasefire, which was implemented in February. Both Kyiv and Donbass have blamed each other for not upholding the truce. Over the weekend, three soldiers were killed by a landmine near Donetsk. Those were the first deaths reported since Monday, when one soldier was killed. Fighting in the region has claimed roughly 6,000 lives since last spring.

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The whole world should speak up against this warfare. Where’s the US?

Saudi Arabia Rejects Russian UN All-Inclusive Arms Embargo on Yemen (RT)

Saudi Arabia has rejected Russia’s amendments to a Security Council draft resolution which would see an all-inclusive arms embargo on all parties in the Yemeni conflict, as it continues to spiral out of control with civilian death toll climbing up. “There is little point in putting an embargo on the whole country. It doesn’t make sense to punish everybody else for the behavior of one party that has been the aggressor in this situation,”Saudi Arabia’s representative to the UN Abdallah Al-Mouallimi said after a closed emergency UN Security Council meeting on Saturday. Al-Mouallimi added that he “hopes” Russia won’t resort to its veto power in case the all-inclusive embargo clause is not added into the draft submitted by the Gulf Cooperation Council that urges an arms embargo only on the Houthis.

At the same time, Riyadh agreed with Moscow’s calls for need of “humanitarian pauses” in the Saudi-led coalition’s air campaign in Yemen – though saying that Saudi Arabia already cooperates fully in this regard. “We always provided the necessary facilities for humanitarian assistance to be delivered,” Al-Mouallimi told reporter heading out of the meeting. “We have cooperated fully with all requests for evacuation.” Moscow convened an emergency meeting on a draft resolution demanding “regular and obligatory” breaks in air assaults against Houthi rebels, in which many civilians keep dying in increasing numbers. The Russian-proposed draft circulated on Saturday demanded “rapid, safe and unhindered humanitarian access to ensure that humanitarian assistance reaches people in need.”

The current council president and Jordan’s Ambassador Dina Kawar said that the council members “need time” to consider the Russian draft resolution, adding that the talks would continue. “We hope that by Monday we can come up with something,” Kawar said. The 15-member council is considering the possibly of merging the Russian and Gulf Cooperation Council proposed drafts into one. The Security Council meeting coincided with the call from the International Committee of the Red Cross for a “humanitarian pause.” The NGO urged to break hostilities for at least 24 hours. “We urgently need an immediate halt to the fighting, to allow families in the worst affected areas, such as Aden, to venture out to get food and water, or to seek medical care,” said Robert Mardini, head of the ICRC’s operations in the Near and Middle East.

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As per these geniuses, Americans are going to drive like crazy. Storage problem? Just make gasoline! It’s the Forrest Gump approach.

Record Gasoline Output to Curb Biggest US Oil Glut in 85 Years (Bloomberg)

Refiners are poised to make gasoline at a record pace this year, keeping the biggest U.S. crude glut in more than 80 years from overflowing storage. They’re enjoying the best margins in two years as they finish seasonal maintenance of their plants before the summer driving season. They’ll increase output to meet consumer demand and they’ve added more than 100,000 barrels a day of capacity since last summer, when they processed the most oil on record. Booming crude production expanded inventories this year by 86 million barrels to 471 million, the highest level since 1930. Analysts from BofA to Goldman Sachs have said storage space may run out. What looks like an oversupply to banks is turning into an all-you-can-eat buffet for those making gasoline and diesel fuel.

“A lot of the excess crude we’ve been sitting on is going to get chewed up quickly,” Sam Davis at Wood Mackenzie, said in Houston April 2. “We’re going to move from a stock build to a stock draw.” Goldman Sachs and Bank of America have said storage builds are increasing the risk of breaching storage capacity, sending prices tumbling. West Texas Intermediate, the U.S. benchmark, already has lost more than half its value since June as growing U.S. shale production led to a global oversupply. Inventories surged as U.S. output rose 71% over the past five years as drillers used techniques like horizontal drilling and hydraulic fracturing to tap previously inaccessible oil in shale rock layers.

In Cushing, Oklahoma, the delivery point for WTI futures, supplies have more than tripled since early October to a record 58.9 million barrels. Last July, refiners processed 16.5 million barrels of crude a day, the highest level in monthly Energy Department data going back to 1961. Refining margins in March have averaged $28.09 a barrel, the most since March 2013. Refiners typically schedule maintenance shutdowns in the spring and fall, reducing oil demand during that time. U.S. refiners increased crude runs by an average 1.1 million barrels a day in April through July over the past five years. During that period, U.S. crude inventories have fallen an average of 24.7 million barrels from the end of May through September.

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Just lovely.

UK Law Changed To Force Nuclear Waste Dumps On Local Communities (Guardian)

Nuclear waste dumps can be imposed on local communities without their support under a new law rushed through in the final hours of parliament. Under the latest rules, the long search for a place to store Britain’s stockpile of 50 years’ worth of the most radioactive waste from power stations, weapons and medical use can be ended by bypassing local planning. Since last week, the sites are now officially considered “nationally significant infrastructure projects” and so will be chosen by the secretary of state for energy. He or she would get advice from the planning inspectorate, but would not be bound by the recommendation. Local councils and communities can object to details of the development but cannot stop it altogether.

The move went barely noticed as it was passed late on the day before parliament was prorogued for the general election, but has alarmed local objectors and anti-nuclear campaigners. Friends of the Earth’s planning advisor, Naomi Luhde-Thompson, said: “Communities will be rightly concerned about any attempts to foist a radioactive waste dump on them. We urgently need a long-term management plan for the radioactive waste we’ve already created, but decisions mustn’t be taken away from local people who have to live with the impacts.” Objectors worry that ministers are desperate to find a solution to the current radioactive waste problem to win public support to build a new generation of nuclear power stations.

Zac Goldsmith, one of the few government MPs who broke ranks to vote against the move, criticised the lack of public debate about such a “big” change. “Effectively it strips local authorities of the ability to stop waste being dumped in their communities,” he said. “If there had been a debate, there could have been a different outcome: most of the MPs who voted probably didn’t know what they were voting for.”

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Sep 062014
 
 September 6, 2014  Posted by at 7:38 pm Finance Tagged with: , , , , ,  7 Responses »


Arnold Genthe Manhattan 1932

It’s exceedingly safe to assume that the main reason the Kiev government agreed to a ceasefire on Friday was that the Ukraine army was losing on just about all fronts. Which they blame on Russian troops and weaponry being involved in increasing numbers, but there’s still to this day no proof for that.

The ‘rebels’ suspect that Kiev will use the ceasefire only to regroup, send in more men and guns, and fortify its positions. Moreover, the same ‘rebels’, who in the western press are increasingly awarded the “pro-Russian” label, even though they have no intention of joining Russia, have accused Kiev of having already violated the ceasefire within hours of it being announced.

Does anyone truly believe the US/EU/NATO coalition, which has spent billions on their Ukraine regime change project, are going to leave it at this? That they’re willing to admit defeat and will now retreat to their original positions, minus East Ukraine? If so, please have a look at the Brooklyn Bridge I have up for sale on Ebay. It has an absolutely lovely weathered look, literally tons of patina, and a history to die for.

I still haven’t seen one single western journalist take an in-depth look at the role of Victoria Nuland, Geoffrey Pyatt and their EU accomplices. Nobody seems interested in what these people have done over the past years that led up to Yanukovych’ ouster in February, and the subsequent civil war Kiev unleashed upon its own people. Not one single western journalist. And it’s not as if there’s no story there.

Meanwhile, the demonization of Vladimir Putin by those same journalists continues unabated. I saw something pass by just now about a Ukrainian priest claiming Putin is obsessed by Satan, no less. That’s the sort of thing that is duly reported in the west. Not Victoria Nuland.

And western politicians too play the same grossly over the top game like they were born for it. US officials have announced they will ‘degrade’ Islamist State (Obama) and chase them into Hell where they belong (Joe Biden). That’s the kind of language that ‘earns’ them applause.

As if there’s nothing wrong with using the images of an American being decapitated for hollow political gain. As if honor has nothing to do with it. In the exact same way that using 298 deaths on flight MH17 didn’t keep anyone from assigning blame, in graphical terms and without any evidence. I guess this is welcome to the age of communication. The more there is, the more is hidden. Perhaps there comes a point where communication equates to propaganda, where information can’t help turning into spin.

But so, yes, I don’t see the west giving up on Ukraine anytime soon. But I don’t see either the Donbass people, or those who support them, doing so either. And the more bases and attack and defense systems, and rapid deployment troops, NATO positions ever close to Russia’s borders, the more Moscow will feel obliged to counter-act.

It’s a stupid way to deal with things when you have two heavily militarized forces opposite each other. But it’s what we see develop as we’re watching. And it looks as if the media war in the west has been won by the west, to the extent that nothing that can be said from here on in will ever be able to wipe the completely invented anti-Putin allegations from our cumulative unconsciousness.

Even if Tuesday’s preliminary MH17 report by the Dutch Safety Board, for which reportedly so many detectives were engaged that no other crimes were solved at all the past two months or so, points not to Putin or Donbass rebels as the guilty party or parties, the allegations against them will still be left in everyone’s unconscience.

Not that I think there’s much chance of that; My guess is the preliminary report will leave so many questions open that there’ll be plenty room to keep the suspicions against Russia and the Donbass alive. The full report won’t be concluded until next summer, so the artificially induced bad taste can simmer and fester for another year.

But I’m still curious to see the report. As I am to see the Russian Union of Engineers’ report which we will present here at the Automatic Earth shortly.

To get back to why I started writing this, I don’t see a truce or ceasefire holding for long. The ‘rebels’ have a lot of reasons to keep fighting: first off, there were winning, and second, they were on their way to establish a land bridge to the Crimea, which would lift their isolation.

And as I said, I don’t see the west give up on their expansionist project. They can now make all of their people believe it was Putin who violated the 1997 NATO-Russia Founding Act (not that anyone has any idea what that is), that NATO is right to expand eastward, even if it’s obvious that Russia can only respond by countering that expansion with force.

The west will find a reason to blame the other side, rebels or imagined Russians, for violating the ceasefire, and use it to increase its military power. Americans and Europeans alike have so far taken all the ‘news’ they were served hook line and sinker, and why should that change? In other words, US/EU/NATO are free to do whatever they want, as long as they can spin a somewhat credible anti-Putin line in their media. And just about any line is credible by now.

But the ceasefire will truly stop when conditions are laid upon the table. Kiev will never ever again rule over the Donbass, the sole region to make Ukraine an economically viable entity. The gory and bloody attempts over the past 6 months to subdue the east Ukraine population have failed, and there won’t be a second chance.

What’s left of the Donbass after the shelling by its own official government will not agree to be governed by that same government. Ukraine as we draw it on the map today has ceased to exist. But that doesn’t mean the west won’t be willing to give it another try.

No matter how awry this goes, the likes of Obama and Barroso and Juncker still think they’ll win because they have bigger dicks a.k.a. guns. And the guys behind the curtains are laughing out loud. They have the ‘bigger’ view.

US Jobs Bombshell Raises Questions Of New Weakness (CNBC)

August’s nonfarm payrolls growth of just 142,000 raises concerns that the economy is healing unevenly, but economists say the stunningly weak jobs report could be just a temporary setback in a stronger trend. The soft employment data, however, is also questionable enough to add fuel to the debate about labor slack when the Fed meets later in the month, though economists don’t see any change in Fed policy. The total August payrolls growth is the first below 200,000 in seven months, and included revisions that cut a combined 28,000 jobs from June and July. The jobless rate fell to 6.1 from 6.2 but it accompanied a drop in labor force participation to 62.8% from 62.9%. “I think it’s just a clunker. I wouldn’t put too much emphasis on it. It is disturbing .We had six months of 200,000 and now we have a clunker,” said John Canally, market strategist and economist at LPL Financial. Canally said August payroll data have been below expectations 17 of the last 18 years.

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The ECB Is Blowing Smoke In Our Eyes (AEP)

Mario Draghi has played a weak hand with skill, as always. He is a superb actor. Yet the package of measures unveiled by the ECB yesterday is pitifully small and mostly window dressing, an effort to buy time with a mix of vague gestures and outright gimmicks, a substitute for decisive action “This is a classic ECB play of the kind we have seen so many times over the last three years,” said Andrew Roberts, credit chief at RBS. “There is huge smoke and mirrors at the time of the announcement, but when you go through the figures 24 hours later you realise it is nothing like what you thought.” The delirious reaction of market traders is interesting, but essentially just noise. What the ECB did will not move the macroeconomic dial by one iota. As Christian Schulz from Berenberg Bank puts it, the latest rate cuts are a screen to “paper over divisions”. The ECB could not secure German political consent for genuine reflation, so it put on a pantomime instead.

The new measures add little to what was already on the table in June. Some are marginally helpful, some trivial, with a shocking lack of detail about the one point that really matters The ECB has had years to plan asset purchases (QE Lite), yet Mr Draghi dodged all questions about the scale. You might conclude that there is still no real agreement on the course of action. Little wonder since Germany’s member of the ECB board – Sabine Lautenschlaeger – said only two months ago that QE is unthinkable except in an “emergency”, and no such emergency exists By default, the ECB is making the same mistake as the Bank of Japan in its dog days, trying to buy time with half measures, hoping that global recovery will lift Europe off the reefs without anything being done. They may get away with this, but there is a very high risk that Europe will instead remain trapped in mass unemployment, with ever rising debt ratios. [..]

If the brilliant Mr Draghi were running a real central bank, he would simply carry out old-fashion open-market operations – with an eight hundred year history – and keep buying assets on whatever scale is needed to meet the ECB’s 2pc inflation target. Instead he running a zoo. He is forced by abominable circumstances to blow smoke in our eyes. He is good at it though.

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East Ukraine Calm After Ceasefire, But Residents Doubt It Will Last (Reuters)

A ceasefire between Ukrainian forces and pro-Russian separatists in eastern Ukraine appeared to be holding on Friday evening, despite some initial shelling in the rebel stronghold of Donetsk. However, many residents and combatants were skeptical that the ceasefire could last long or turn into a basis for a durable peace settlement after six months of conflict. The two sides remain far apart on the future of the region. The ceasefire was approved by envoys from Ukraine, the separatist leadership, Russia and Europe’s OSCE security watchdog meeting in Minsk as part of a peace road map that also includes an exchange of prisoners and the creation of a humanitarian corridor for refugees and aid. Minutes after the ceasefire began at 1500 GMT, three blasts were heard north of Donetsk, followed by scattered mortar and artillery fire, but this later fell quiet.

Fighting had raged for much of the day in two flashpoints in eastern Ukraine – near the strategic port of Mariupol on the Sea of Azov and further north in Donetsk, mostly around the city’s airport which remains in government hands. Kiev says its forces have been trying to repel a big offensive by the rebels to take Mariupol, whose port is crucial to Ukraine’s steel exports. It stands about halfway between Russia and the Russian-annexed Crimean Peninsula. Ukrainian commanders denied separatist claims that separatist forces had entered Mariupol on Friday.

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Kiev Forces Continue Shelling Despite Ceasefire: Donetsk Militia (RIA)

Ukrainian special forces continued shelling towns and militia positions in the Donetsk region late Friday despite the ceasefire established hours before, the militia forces of the self-proclaimed Donetsk People’s Republic (DPR) said Saturday. “The people’s militia’s subdivisions in Horlivka and Makiivka fell under mortar shelling in the Donetsk direction at 20 hours 15 minutes [17:15 GMT],” said in the DPR headquarters. Some 1.5 hours later, the Ukrainian forces attacked the city of Yasynuvata, and at 10:30 p.m. (19:30 GMT), the positions of the militia forces’ at the Donetsk airport, according to militia. “Along the whole contact line with the enemy, [militia forces] adhered to the commander’s order not to fire back,” the DPR representatives said.

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Russia ‘Will React’ If EU Implements New Sanctions (Reuters)

Russia’s Foreign Ministry vowed on Saturday to react if the European Union implements new sanctions against Moscow over its role in the Ukraine crisis. The EU announced the additional measures late on Friday but said they could be suspended if Moscow withdraws its troops from Ukraine and observes a newly agreed ceasefire in eastern Ukraine. The new sanctions include adding a further 24 people to a list of people barred from entry to the 28-nation bloc and whose assets are frozen. They are due to be implemented on Monday. “If they (new sanctions) are implemented of course there will be a reaction from our side,” the ministry said in a statement.

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Russia Lashes Out Over NATO Spearhead Force In Eastern Europe (RT)

Moscow has accused NATO of using the Ukrainian crisis as a “pretext” to “push its military presence closer to Russia’s borders,” and says that plans for a new rapid response force will sabotage the peace process in eastern Ukraine. “The [expansion] plans have been harbored by NATO for a long time, and recent events have served as a pretext to put them into action,” said a statement published on the Russian Foreign Ministry’s website, following the wrapping up of the NATO summit in Wales. “Together with the rhetoric at the summit, and the planned military exercises before the end of the year, this will increase tension, destabilization the nascent peace process, and further widen the division in Ukraine,” the ministry’s statement said.

“The above is also testament to NATO’s unconditional support for the extremists and neo-fascists in Kiev, including the Right Sector political movement,” it stressed. During the two-day summit, the 28 NATO member states instituted the creation of a rapid response unit numbering at least 4,000. It could be deployed in Eastern Europe – where it will be based – in less than 48 hours. The primary stated reason for the initiative is “Russia’s aggression against Ukraine.” Russia’s NATO envoy, Aleksandr Grushko, also denounced NATO’s policy, suggesting that the alliance was engaged in “Cold War thinking,” and risked undermining the landmark 1997 treaty in which Moscow and Brussels officially proclaimed that they were no longer “adversaries.”

In a TV interview, Grushko said that NATO was “flexing its muscles,” and pointed out that an increased presence of NATO vessels in the Baltic and Black Sea would destroy the recently built-up level of trust in what were once the potential flashpoints in the standoff. Grushko also called the planned NATO-Ukraine exercises a “provocation” because “foreign troops will appear in a country that is fighting its own people.” “NATO must play no role in the Ukrainian conflict,” the official told Rossiya-24 network. He also accused the US of “trying to unload the financial burden of maintaining NATO onto its allies.”

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Word.

‘The People On Wall Street Aren’t Seeing What Really Goes On In America’ (ZH)

Today’s jobs data was almost 5 standard deviations below Wall Street’s best-and-brightest’s estimate and has already been dismissed by many as an ‘anomaly’ or ‘unbelievable’. Despite the fact that the National Retail Foundation noted over 17,000 layoffs in August “calling into question how much momentum the economy really has,” one member of the public was able to #NailTheNumber on CNBC’s great payroll-guessing game. Ronnie Squires explains to a silenced CNBC anchor the real state of America…

Apologies for audio quality…

The uncomfortable truth…

“I do a lot of traveling around the country and there’s still a lot of folks who say ‘there’s no jobs out there’.

I watch [CNBC] every day and I just don’t see it.

I don’t know if the people on Wall Street are not really getting out and seeing what’s really going on [in America].

When you go to small towns, like I do, and talk to people – people don’t have much confidence in the numbers you hear.

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Central banks print money to keep the S&P 500 at record levels.

What’s The Point Of Hiding It Any Longer? (Zero Hedge)

Compare and contrast.

From the Chicago Mercantile Exchange 2012 10-K:

Customer Base: Our customer base includes professional traders, financial institutions, institutional and individual investors, major corporations, manufacturers, producers and governments.

And from the Chicago Mercantile Exchange 2013 10-K:

Customer Base: Our customer base includes professional traders, financial institutions, institutional and individual investors, major corporations, manufacturers, producers, governments and central banks.

And there you have it At this point why even pretend there is a “market”? The “market”, and by “market” we mean stocks – it has long been known that central banks actively trade bonds, FX and commodities – is whatever central banks say it is. Finally, if central banks are going to be rigging the market as they now conclusively are on a daily basis, perhaps they can disclose ahead of the trading day start to everyone, and not just the primary dealers, what the closing S&P 500 price for any given day is.

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And they still all think tomorrow’s going to be better.

The American Family Makes $200 More A Year Than It Did In 1989 (MarketWatch)

As of a year ago, typical U.S. households still hadn’t recovered all of the wealth they lost in the Great Recession of 2008-09, according to the latest Survey of Consumer Finances released by the Federal Reserve on Thursday. Median net worth fell 2% (inflation-adjusted) between 2010 and 2013 to $81,200 per family, down about 40% from the $135,400 they had in 2007, just before home prices and stock prices plunged, the Fed reported. (The median means that half of families had more wealth, and half had less. Net worth is the value of all assets minus the value of all liabilities or debts.) The Survey of Consumer Finances is considered one of the most comprehensive studies on income, wealth and debt. Unfortunately, it’s only produced every third year, and it’s published about 18 months after the survey. A lot can change in that 18 months, including a 14% increase in home prices and a 30% gain in the stock market.

If the typical family thinks the Great Recession never ended, here’s a good explanation: Median incomes have dropped about 12% in real terms since 2007, just before the recession began. In inflation-adjusted terms, the typical family makes only about $200 more a year than it did in 1989. There was some steady progress in median incomes from 1992 to 2004, but that’s all been wiped away. Some groups have done better than others: Incomes of the top 10% have risen about 18% in real terms since 1989. But those in the 60th to 80th%ile — the once-prosperous middle class — have seen their incomes rise just 4% in 24 years.

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Oh, sweet recovery.

Millions Struggle To Get Enough To Eat Despite Jobs Returning (NPR)

The number of U.S. families that struggled to get enough to eat last year was essentially unchanged from the year before, according to the U.S. Department of Agriculture’s latest report on “food security.” The agency says that about 17.5 million families — or 1 in 7 — were food insecure last year. That means that at some point during the year, the household had trouble feeding all of its members. In 2012, the number was 17.6 million. The number of households experiencing what the government calls “very low food security” — which means people actually miss meals or cut back their intake because they don’t have enough money for food — was also essentially unchanged last year at 6.8 million households. Anti-hunger groups say the fact that so many families are still struggling to put enough food on the table, even as the economy improves, is a sign that more needs to be done to help them out.

“These startling numbers prove there has been no true economic recovery for tens of millions of struggling U.S. families,” Joel Berg, executive director of the New York City Coalition Against Hunger, said in a statement. “It is clearer than ever that we need a massive new government jobs program, a significant increase in the minimum wage and a robust increase in the federal nutrition safety net program.” USDA sociologist Alisha Coleman-Jensen, an author of the report, says the numbers have not declined as much as one might expect with a drop in unemployment, because higher food prices and inflation last year offset the benefits of a brighter job market. She notes that over a two-year period, the drop in the%age of struggling families was statistically significant — from 14.9% in 2011 to 14.3% last year. Still, the level of food insecurity remains much higher than it was before the recession. In 2007, about 11% of households struggled to get enough to eat.

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“Student loans issued from 2007 to 2012 are on target to produce $66 billion in profit for the United States government.”

Elizabeth Warren: The Market Is Broken (CNN)

Senator Elizabeth Warren says she picked up a lot of her feistiness from reading Nancy Drew novels as a kid. Today she believes the most important mystery to solve is how to get the American economy working for someone other than billionaires. It’s a message she’s been taking all over the country, and she isn’t afraid to call banks, credit card companies and some employers cheats and tricksters. “The biggest financial institutions figured out they could make a lot of money by cheating people on mortgages, credit cards and payday loans,” she told a packed auditorium at the Graduate Center of the City University of New York, where she spoke alongside New York Times columnist Paul Krugman. The Democrat from Massachusetts even said the market is broken in many regards. “This is about getting markets to work for real people,” she said. The biggest applause of the night was on three issues that come up frequently in Warren’s speeches.

1) Financial regulation: Warren was the driving force behind the creation of the Consumer Financial Protection Bureau after the 2008 financial crisis. The agency has returned billions of dollars to Americans who were wronged. “Traffic works better with traffic lights,” she explained. In her eyes, a true capitalist system would have transparency so consumers could make informed choices. But in a world of “mice type” with pages and pages of fine print that no one reads or understands, the market breaks down.

2) Reducing student loans: Last summer Warren made headlines for arguing that student loans should have the same interest rates that banks get when they borrow money from the Federal Reserve. This year she’s pushing to allow people to re-finance their student loans at the historically low rates currently in place. As she likes to remind people, “Student loans issued from 2007 to 2012 are on target to produce $66 billion in profit for the United States government.”

3) Raising the minimum wage: “No one should work full time and still live in poverty,” Warren said. She uses her own family story to illustrate how critical it is for workers to make a living wage. Her father had a heart attack when she was 12, and her mother had to go back to work in retail at Sears to support the family.

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And, let’s guess, 2/3 of them don’t make enough money?!

Freelance Nation: One-Third Of US Workers Are Freelancers (Yahoo)

When the Labor Department releases its latest jobs report on Friday, it will likely show that the economy added about 200,000 jobs in August and the unemployment rate remained near 6.2%. What it won’t show is the extent to which many workers are no longer on payroll but self-employed as freelancers. The Freelancers Union, a national organization, released a survey today showing that 53 million Americans, or 34% of the country’s workforce, are freelancers. The trend started “decades ago, then accelerated,” says Sara Horowitz, the group’s founder and executive director. “Freelancing is everywhere.” She calls it a “new normal.”

Some say the freelance trend is not the worker’s friend and is a result of layoffs, forcing many to find work any way they can. But Horowitz says freelance work is “meaningful independence” — a “new way” of work that people like because “they can really organize their time [and] have flexibility.” Freelancing gives people a sense of control over their work lives, Horowitz tells Yahoo Finance in the video above. “Workers are saying ‘if I’m not going to have an employer that’s going to have loyalty to me and if I don’t have expenses that are so high, I can actually start to control my life by working freelance in these different ways,'” says Horowitz. It’s particularly popular among millennials, according to the survey which found that 38% of them are freelancing.

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Yeah, right, not enough credit=debt is being created…

When The Next Housing Bust Hits, Blame The Bankers (MarketWatch)

The U.S. economic recovery is being endangered by a slowing housing market, as prospective homeowners with lower incomes and credit scores are finding it nearly impossible to get a mortgage. Six years after the collapse of home prices, the mortgage-lending industry is going through an upheaval. Wells Fargo has the largest share of the mortgage market, but CEO John Stumpf in an interview with the Financial Times last week said his company would be unwilling to lend to lower-income borrowers and those with relatively low credit scores. That is, unless regulators made it more difficult for investors to force banks to repurchase securitized loans. “If you guys want to stick with this program of ‘putting back’ any time, any way, whatever, that’s fine, we’re just not going to make those loans and there’s going to be a whole bunch of Americans that are underserved in the mortgage market,” Stumpf said.

He was referring to loan-repurchase demands by Fannie Mae, Freddie Mac and private investors. J.P. Morgan CEO James Dimon, during a July conference call, said the bank’s volume of loans insured by the Federal Housing Administration was “way down,” and that the bank had “lost a tremendous sum of money on the FHA,” which had disputed roughly a third of all insurance claims. “We want to help the consumers there, but we can’t do it at great risk to J.P. Morgan, so until they come up with some kind of safe harbors or something, we’re going to be very, very cautious in that line of business,” Dimon said. Even Federal Reserve Chairwoman Janet Yellen said in June: “It is difficult for any homeowner who doesn’t have pristine credit these days to get a mortgage,” which was one of the causes of the limp housing recovery.

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Big report by Glenn Greenwald.

The US Government’s Secret Plans To Spy For American Corporations (Greenwald)

Throughout the last year, the U.S. government has repeatedly insisted that it does not engage in economic and industrial espionage, in an effort to distinguish its own spying from China’s infiltrations of Google, Nortel, and other corporate targets. So critical is this denial to the U.S. government that last August, an NSA spokesperson emailed The Washington Post to say (emphasis in original): “The department does ***not*** engage in economic espionage in any domain, including cyber.” After that categorical statement to the Post, the NSA was caught spying on plainly financial targets such as the Brazilian oil giant Petrobras; economic summits; international credit card and banking systems; the EU antitrust commissioner investigating Google, Microsoft, and Intel; and the International Monetary Fund and World Bank. In response, the U.S. modified its denial to acknowledge that it does engage in economic spying, but unlike China, the spying is never done to benefit American corporations.

Director of National Intelligence James Clapper, for instance, responded to the Petrobras revelations by claiming: “It is not a secret that the Intelligence Community collects information about economic and financial matters…. What we do not do, as we have said many times, is use our foreign intelligence capabilities to steal the trade secrets of foreign companies on behalf of—or give intelligence we collect to—U.S. companies to enhance their international competitiveness or increase their bottom line.”

But a secret 2009 report issued by Clapper’s own office explicitly contemplates doing exactly that. The document, the 2009 Quadrennial Intelligence Community Review—provided by NSA whistleblower Edward Snowden—is a fascinating window into the mindset of America’s spies as they identify future threats to the U.S. and lay out the actions the U.S. intelligence community should take in response. It anticipates a series of potential scenarios the U.S. may face in 2025, from a “China/Russia/India/Iran centered bloc [that] challenges U.S. supremacy” to a world in which “identity-based groups supplant nation-states,” and games out how the U.S. intelligence community should operate in those alternative futures—the idea being to assess “the most challenging issues [the U.S.] could face beyond the standard planning cycle.”

One of the principal threats raised in the report is a scenario “in which the United States’ technological and innovative edge slips”— in particular, “that the technological capacity of foreign multinational corporations could outstrip that of U.S. corporations.” Such a development, the report says “could put the United States at a growing—and potentially permanent—disadvantage in crucial areas such as energy, nanotechnology, medicine, and information technology.” How could U.S. intelligence agencies solve that problem? The report recommends “a multi-pronged, systematic effort to gather open source and proprietary information through overt means, clandestine penetration (through physical and cyber means), and counterintelligence” (emphasis added). In particular, the DNI’s report envisions “cyber operations” to penetrate “covert centers of innovation” such as R&D facilities.

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The fight that keeps on taking.

Argentina Senate Passes Debt Swap Plan In Defiance Of US Courts (Reuters)

Argentina’s Senate on Thursday passed a bill aimed at circumventing U.S. court decisions regarding its defaulted debt by changing payment jurisdiction, sending the proposal to the lower house Chamber of Deputies for final approval. The chamber, like the Senate, is controlled by government allies who are expected to vote the bill into law. Debate in the lower chamber is set to start next week. The Senate vote approving the measure was 39 to 27. President Cristina Fernandez wants to resume servicing sovereign bonds that were restructured after Argentina’s previous default in 2002. Her government missed a coupon payment on its restructured bonds in July, thrusting the South American country into default.

The proposed law, which says that foreign debt can be paid through intermediaries outside the United States, is Fernandez’s attempt at getting back on a paying basis by putting government debt out of reach of U.S. courts that have jurisdiction over some of the original bond contracts. The bill would replace Bank of New York Mellon with state-controlled bank Banco Nacion as the trustee for bond payments. It would also allow holders of restructured bonds governed by foreign law to swap them for paper governed by Argentine law. Both moves would be in violation of U.S. court orders. [..] “Sometimes there are court decisions that cannot be followed,” said Miguel Angel Pichetto, head of the government’s Frente para la Victoria coalition in the Senate. “To pay the vulture funds would be very dangerous.” The bill is expected to become law before Sept. 30, when the next payment on Argentina’s restructured bonds is due.

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Italy Economy In ‘Acute Emergency’: Ex-PM Monti (CNBC)

Italy is still embroiled in a financial crisis—but one that is insufficiently severe to convince the public that reforms are urgently needed, the country’s former prime minister told CNBC on Friday. “The acute emergency that we now have in the real economy, and in the employment situation, is there. It bites deeply into society,” Mario Monti, the economist who led an Italian technocrat government between 2011 and 2013, told CNBC from the annual economic Ambrosetti Forum in Italy. “But of course, it is not so visible as an emergency that brings the whole of public opinion to rally around a tough political project to introduce the structural reforms that are needed to slowly go out of that crisis.”

The Italian economy is seen shrinking again this year, after contracting 0.2% in the second-quarter. Unemployment remains above both the euro zone and the Europe-wide average, hitting 12.6% in July. The country needs to create 2.5 million new jobs to meet the European Union target of 75% employment by 2020, according to Ambrosetti economists. Despite this, both Monti and his successor Matteo Renzi have struggled to free up Italy’s high restrictive labor market. Firms currently lack flexibility in hiring and firing and are inhibited by the practice of nationwide collective bargaining.

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Limits to Growth has always been right. Other than in little details, but it was never about details.

Limits to Growth Was Right. New Models Show We’re Nearing Collapse (Guardian)

The 1972 book Limits to Growth, which predicted our civilisation would probably collapse some time this century, has been criticised as doomsday fantasy since it was published. Back in 2002, self-styled environmental expert Bjorn Lomborg consigned it to the “dustbin of history”. It doesn’t belong there. Research from the University of Melbourne has found the book’s forecasts are accurate, 40 years on. If we continue to track in line with the book’s scenario, expect the early stages of global collapse to start appearing soon. Limits to Growth was commissioned by a think tank called the Club of Rome. Researchers working out of the Massachusetts Institute of Technology, including husband-and-wife team Donella and Dennis Meadows, built a computer model to track the world’s economy and environment. Called World3, this computer model was cutting edge. The task was very ambitious. The team tracked industrialisation, population, food, use of resources, and pollution.

They modelled data up to 1970, then developed a range of scenarios out to 2100, depending on whether humanity took serious action on environmental and resource issues. If that didn’t happen, the model predicted “overshoot and collapse” – in the economy, environment and population – before 2070. This was called the “business-as-usual” scenario. The book’s central point, much criticised since, is that “the earth is finite” and the quest for unlimited growth in population, material goods etc would eventually lead to a crash. So were they right? We decided to check in with those scenarios after 40 years. Dr Graham Turner gathered data from the UN (its department of economic and social affairs, Unesco, the food and agriculture organisation, and the UN statistics yearbook). He also checked in with the US national oceanic and atmospheric administration, the BP statistical review, and elsewhere. That data was plotted alongside the Limits to Growth scenarios.

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Not going to happen. They don’t have anywhere near enough control.

UN Aims To Stop Ebola Transmission In Six To Nine Months (Reuters)

The United Nations plans to set up an Ebola crisis center to coordinate the response to the deadly virus and to strive to halt its spread in West African countries in six to nine months, U.N. Secretary-General Ban Ki-moon announced on Friday. Ban called on the international community to provide $600 million needed for supplies in West Africa, where more than 3,500 confirmed or probable cases of the hemorrhagic fever have been reported and more than 1,900 people have died since March. “The number of cases is rising exponentially. The disease is spreading far faster than the response. People are increasingly frustrated that it is not being controlled,” Ban told reporters.

“The goal is to stop Ebola transmission in affected countries within six to nine months, and to prevent the international spread of the virus,” he said. “This can be done only if the urgent and necessary mobilization is done both in the affected countries and by the international community.” Countries affected by the epidemic include Guinea, Liberia, Nigeria, Senegal and Sierra Leone. An outbreak in the Democratic Republic of Congo is unrelated to and independent of the West African epidemic, the World Health Organization has said. It is the worst outbreak since the virus was discovered in 1976 near the Ebola River in what is now Democratic Republic of Congo. The WHO has said casualty figures may be up to four times higher than reported, and that up to 20,000 people may be affected before the outbreak ends.

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