Nov 072019
 
 November 7, 2019  Posted by at 9:45 am Finance Tagged with: , , , , , , , ,  5 Responses »


Dorothea Lange Rear window tenement dwelling, 133 Avenue D, NYC June 1936

 

Dems’ ‘Star Witness’ Wasn’t On Trump-Ukraine Call, Sole Source Was NYT (ZH)
Top US Diplomat’s Damning Account Of Quid Pro Quo With Ukraine (CNN)
Adam Schiff Announces First Public Impeachment Hearings (ZH)
Trump Jr. Outs CIA Whistleblower Over Twitter (ZH)
Hunter Biden Took ‘Off The Books’ Payments From Burisma, Aided By FBI (CDM)
Ukrainians Pimped Hunter Biden’s Seat For Leverage With Obama State Dept (ZH)
‘Coup Has Started,’ Whistleblower’s Attorney Said In 2017 (Fox)
Jeffrey Epstein’s Brother Talks ‘Unexplained’ Injuries on Shoulder, Wrist (ET)

 

 

The US is becoming so divided it’s time to ‘heal’ before it’s too late. This whole impeachment thing should have been bipartisan from the start, but it hasn’t at all. The Dems have tried from the get-go to block the GOP from getting involved. And even now, as they claim hearings will become public, they put restraints on Republican House members. That will not end well.

Point in case: the first two articles below, one from Zero Hedge, the other from CNN, draw 180º different conclusions from the exact same material. And then that is supposed to move smoothly into the 2020 election process?

The testimonies from Taylor and Sondland appear tainted. The whistleblower who isn’t one refuses to talk, but is ‘willing’ to answer written questions (or rather his lawyers are). The Dems try to keep him anonymous while his identity has been out there for everyone to see. And looking at his background it’s not hard to see why they don’t want him to testify. But the entire process has become so distorted that no-one should want to be part of it.

Open it up!

 

 

“.. you’re telling us that Tim Morrison told you that Ambassador Sondland told him that the president told Ambassador Sondland that Zelensky would have to open an investigation into Biden?” “That’s correct,” Taylor admitted.”

Dems’ ‘Star Witness’ Wasn’t On Trump-Ukraine Call, Sole Source Was NYT (ZH)

“And this isn’t firsthand. It’s not secondhand. It’s not thirdhand,” Rep. Lee Zeldin, R-N.Y., said to Taylor. “But if I understand this correctly, you’re telling us that Tim Morrison told you that Ambassador Sondland told him that the president told Ambassador Sondland that Zelensky would have to open an investigation into Biden?” “That’s correct,” Taylor admitted. “So do you have any other source that the president’s goal in making this request was anything other than The New York Times?” Zeldin asked. “I have not talked to the president,” Taylor said. “I have no other information from what the president was thinking.”

Additionally, as The Federalist notes, under questioning from Rep. John Ratcliffe, R-Texas, Taylor also testified that the Ukrainian government wasn’t aware U.S. military funding had been temporarily suspended until late August, and then only after the information was leaked to the news media, meaning an alleged quid pro quo would have been impossible. “So, if nobody in the Ukrainian government is aware of a military hold at the time of the Trump-Zelensky call, then, as a matter of law and as a matter of fact, there can be no quid pro quo, based on military aid,” Ratcliffe, a former federal prosecutor, said. “I just want to be real clear that, again, as of July 25th, you have no knowledge of a quid pro quo involving military aid.”

“July 25th is a week after the hold was put on the security assistance,” Taylor testified. “And July 25th, they had a conversation between the two presidents, where it was not discussed.” “And to your knowledge, nobody in the Ukrainian government was aware of the hold?” Ratcliffe asked. “That is correct,” Taylor responded. The Democrats may need a better witness.

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Ye olde defense: “There is no evidence of wrongdoing in Ukraine by either Joe or Hunter Biden”. And there won’t be if you succeed in frustrating any investigation.

Top US Diplomat’s Damning Account Of Quid Pro Quo With Ukraine (CNN)

In his opening statement, which was published when he testified on October 22, Taylor explained that Sondland told him “everything” Ukraine wanted was conditioned on the investigation. There is no evidence of wrongdoing in Ukraine by either Joe or Hunter Biden. House Intelligence Chairman Adam Schiff announced Wednesday that Taylor would testify next week on Wednesday, the first day that Democrats will hold public impeachment hearings. Taylor’s testimony provided a damning account of how Trump told his appointees to establish a quid pro quo with Ukraine, trading much-needed US military assistance for political favors from Zelensky.

Taylor, a career official who remains in his post in Kiev, testified that he was prepared to resign amid the holdup of aid, and he explained in more detail what he meant in text messages describing a “nightmare” for Ukraine that would have prompted his departure. “‘The nightmare’ is the scenario where President (Volodymyr) Zelensky goes out in public, makes an announcement that he’s going to investigate Burisma and the election in 2016, interference in 2016 election, maybe among other things,” Taylor told the House committees. “The nightmare was he would mention those two, take all the heat from that, get himself in big trouble in this country and probably in his country as well, and the security assistance would not be released. That was the nightmare.”

In the wake of his testimony, Trump accused Taylor of being a “Never Trumper.” Trump made this claim even though there is zero public evidence to support his assertion, and available information paints Taylor as a respected and apolitical career diplomat.

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The first public hearing will be that of Bill Taylor, whose testimony they already took -and leaked from- two weeks ago, and which they released on Wednesday? Now they want a do-over? What’s the story, morning glory?

Adam Schiff Announces First Public Impeachment Hearings (ZH)

After weeks of secretive impeachment proceedings from which House Democrats have largely excluded Republican lawmakers, House Intelligence Chairman Adam Schiff (D-CA) announced on Twitter Wednesday that his committee will hold its first public impeachment hearings next week. Unsurprisingly, those with the most damaging testimony will be peddled out, while witnesses who gave exonerating testimony such as special envoy Kurt Volker and Ambassador Gordon Sondland are notably absent from the roster. First up? On Wednesday, November 13 the panel will hear from Bill Taylor – the top US diplomat in Ukraine who told house investigators last month that he believes there was a quid pro quo between the Trump administration and Ukraine.

Taylor notably expressed his concerns in a Sept. 9 text message to US ambassador to the EU, Gordon Sondland, saying: “I think it’s crazy to withhold security assistance for help with a political campaign.” To which Sondland, dictating from Trump, replies “Bill, I believe you are incorrect about President Trump’s intentions. The President has been crystal clear no quid pro quo’s of any kind,” adding “I suggest we stop the back and forth by text.” Sondland, meanwhile, ‘updated’ his earlier testimony to clarify that he told a top Ukrainian official that the country would need to commit to investigating former VP Joe Biden and other Democrats in exchange for the release of nearly $400 million in US military aid.

“I said that resumption of the U.S. aid would likely not occur until Ukraine provided the public anticorruption statement that we had been discussing for many weeks,” said Sondland. That said, Sondland also testified that his quid pro quo comments were his opinion, and that President Trump specifically said he did not want one.

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No he didn’t really, the name was known to half the country.

Trump Jr. Outs CIA Whistleblower Over Twitter (ZH)

Drama ensued on Wednesday after Donald Trump Jr. tweeted a Breitbart News article which contained the name of the alleged Trump-Ukraine whistleblower, Eric Ciaramella. The article, written by Breitbart senior investigative reporter New York Times bestselling author and Aaron Klein, details how Ciaramella was central to the Obama administration’s Ukraine policy – including the eventual signing of a $1 billion US loan guarantee after former VP Joe Biden pressured them into firing the guy investigating an energy company paying his son to sit on their board, Burisma Holdings.


In response to Trump Jr. tweeting Ciaramella’s name, journalist Yashar Ali (who worked for Hillary Clinton’s 2008 presidential campaign) contacted Don Jr., who told him “The outrage on this is BS. And those pretending that I would coordinate with The White House to send out a Breitbart link haven’t been watching my feed for a long time.” Don Jr. then tweeted “The entire media is #Triggered that I (a private citizen) tweeted out a story naming the alleged whistleblower. Are they going to pretend that his name hasn’t been in the public domain for weeks now? Numerous people & news outlets including Real Clear Politics already ID’d him.”

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CD Media continues its Ukraine series.

Hunter Biden Took ‘Off The Books’ Payments From Burisma, Aided By FBI (CDM)

Oleksandr Onyshchenko was elected to the Ukrainian Parliament in 2012. He served From November 2014 until 2016 as the deputy chairman of the Parliament Committee on Fuel and Energy Complex, Nuclear Policy and Nuclear Safety. He states on his website: “However, his political career would be cut short in the summer of 2016 after he was revealed to be an opposition supporter who was secretly helping opposition leader and Former Prime Minister Yulia Tymoshenko and her “Fatherland” party. A politically-motivated charge of embezzlement was placed against him by then-President Poroshenko and Mr Onyshchenko had to flee the country. On February 6 2017, The German Higher Regional Court of Koblenz issued a decision which ruled out any criminality in the actions of Mr Onyshchenko. Most notably, the State of Ukraine did not give any evidence of Mr Onyshchenko’s involvement in criminal activity, and no definitive circumstances were shown.”

Onyshchenko currently lives in Western Europe but intends to return to Ukraine to fight the corrupt schemes put in place by former President Poroshenko and to aid the Zelensky administration in such efforts. In Onyshchenko’s former oversight role over Ukrainian energy security, he was in a unique position to acquire information on Burisma and their dealings with the Biden family. In our extensive discussions with Onyshchenko, CD Media can report that he confirmed Hunter Biden took ‘off the books’ payments totally millions from Burisma. “There were ‘official’ and ‘unofficial’ payments to the Biden family,” Onyshchenko stated.

Onyshchenko also confirmed that former FBI agent Karen Greenway, who oversaw the Obama administration’s anti-corruption efforts in Eastern Europe, directed the coverup of the Biden scandal at the time, in concert with the U.S. embassy in Kyiv, and other Deep State American government assets ‘in-country’.

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Let’s hope Zelensky orders an in-depth probe of Burisma.

Ukrainians Pimped Hunter Biden’s Seat For Leverage With Obama State Dept (ZH)

Ukrainian gas giant Burisma leveraged their relationship with Hunter Biden in order to curry favor with the Obama State Department in 2016, according to the Wall Street Journal, citing documents released in response to a Freedom of Information Act request submitted by journalist John Solomon. Burisma, represented by American lobbying firm Blue Star Strategies (founded by former Clinton administration officials Sally Painter and Karen Tramontano), mentioned Hunter Biden’s name in email exchanges with State Department staff while seeking a meeting – ” then mentioned him again during the meeting as part of an effort to improve Burisma’s image in Washington,” according to the report.

The email exchanges between State Department staffers show that Karen Tramontano, chief executive of Blue Star, cited Mr. Biden’s position in trying to secure a meeting with a senior official at the State Department. “She noted that two high profile U.S. citizens are affiliated with the company (including Hunter Biden as a board member),” the special assistant at the Office of the Undersecretary for Economic Growth, Energy and the Environment wrote in the Feb. 24, 2016, email. “Ms. Tramontano met with the undersecretary, Catherine Novelli, on March 1, 2016, the documents show. During the meeting, Ms. Tramontano mentioned Mr. Biden served on the company’s board, according to a former State Department official familiar with the discussion.” -Wall Street Journal

The 2016 lobbying effort was an attempt to change Burisma’s reputation in Washington. Hunter Biden was appointed to the board of Burisma in 2014 while his father was Vice President, and Obama’s ‘point man’ on Ukraine policy. The elder Biden notoriously pressured Ukraine’s president to fire the country’s lead prosecutor, Viktor Shokin, who was leading a wide-ranging investigation into Burisma at the time. While MSM outlets have reported that the probe had been long-closed by the time, however Shokin said in a sworn affidavit “I was forced out because I was leading a wide-range corruption probe into Burisma Holdings, a natural gas firm active in Ukraine, and Joe Biden’s son, Hunter, was a member of the board of directors.”

Blue Star’s efforts for Burisma came as the company and its Ukrainian tycoon founder, Mykola Zlochevsky, faced investigations in Ukraine focused on allegations of tax irregularities, money laundering and illegal enrichment Mr. Zlochevsky was never charged, and a lawyer for Burisma said at the time that the investigations were closed because of a lack of evidence. The dropping of the investigations in 2016 came after Ukraine’s prosecutor general was dismissed. Vice President Biden and European Union officials had brought pressure on the prosecutor, seeing him as a hindrance to anticorruption efforts. His dismissal has been seized upon by Mr. Trump’s personal attorney Rudy Giuliani as evidence that Vice President Biden exerted undue pressure on Kyiv to help his son. -Wall Street Journal

Amazing, nobody cites Shokin’s affidavit claiming he was fired for investigating Burisma. House Democrats, meanwhile, have been conducting an impeachment inquiry against President Trump, whose attorney Rudy Giuliani has been conducting an investigation “concerning 2016 Ukrainian collusion and corruption,” which Giuliani says “was done solely as a defense attorney to defend my client against false charges.”

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“We should take [Zaid] at his word that this is a coordinated, premeditated plot to overturn the election.”

‘Coup Has Started,’ Whistleblower’s Attorney Said In 2017 (Fox)

Mark Zaid, one of the attorneys representing the intelligence community whistleblower at the center of the Democrats’ ongoing impeachment inquiry, tweeted conspicuously in January 2017 that a “coup has started” and that “impeachment will follow ultimately.” Then, in July 2017, Zaid remarked, “I predict @CNN will play a key role in @realDonaldTrump not finishing out his full term as president.” Also that month, Zaid tweeted, “We will get rid of him, and this country is strong enough to survive even him and his supporters.” Amid a slew of impeachment-related posts, Zaid assured his Twitter followers that “as one falls, two more will take their place,” apparently referring to Trump administration employees who defy the White House. Zaid promised that the “coup” would occur in “many steps.”


The tweets, which came shortly after President Trump fired then-acting Attorney General Sally Yates for failing to defend federal laws in court, are likely to fuel Republican concerns that the anonymous whistleblower’s complaint is tainted with partisanship. Trump’s call with Ukraine’s leader, which is the subject of the complaint, occurred in July 2019. “The whistleblower’s lawyer gave away the game,” the Trump campaign’s communications director, Tim Murtaugh, told Fox News. “It was always the Democrats’ plan to stage a coup and impeach President Trump and all they ever needed was the right scheme. They whiffed on Mueller so now they’ve settled on the perfectly fine Ukraine phone call. This proves this was orchestrated from the beginning.” Added House GOP leader Kevin McCarthy: “We should take [Zaid] at his word that this is a coordinated, premeditated plot to overturn the election.”

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Here’s hoping we’re far away from having heard the last about this.

Jeffrey Epstein’s Brother Talks ‘Unexplained’ Injuries on Shoulder, Wrist (ET)

The brother of dead disgraced financier Jeffrey Epstein said he had unusual injuries on his wrists and shoulders. Mark Epstein, 65, said there were two contusions on both of Jeffrey’s wrists, an injury to his left forearm, and muscle hemorrhaging of his left shoulder or deltoid. “Those are unexplained. Was he handcuffed and struggled? Was someone holding his wrists? The marks on his wrist are unexplained,” he told Fox News. His comments about his brother’s death in August—which the New York City Medical Examiner’s Office said was due to suicide by hanging—come after famed pathologist Dr. Michael Baden said there were questions about Epstein’s neck injury.

“Did the injuries happen a week before or at the time of the incident? We have to look at the microscopic slides to see when the injuries occurred,” Dr. Baden said of the injuries noted by his brother, according to Fox. “The brother requested this information three months ago and he still has not gotten it.” Mark Epstein also said that he attempted to obtain his brother’s file from the New York City Medical Examiner’s Office in mid-August, but he was told that it has to be processed by the U.S. Department of Justice first. “They’re playing games,” Mark told Fox on Wednesday. He explained: “I’ve done the appropriate requests with Justice twice, and have heard nothing. I was told someone is looking into it.”

Baden said, however, that the unexplained injuries on Epstein’s body that were mentioned by his brother might have been caused by the July 23 incident, where he was discovered in the fetal position with marks around his neck at the Manhattan Correctional Center. He was put on suicide watch for a short period of time before being taken off of it weeks before his death. Mark said that he’s unsure what happened to his brother, who was arrested and jailed without bail on sex trafficking charges in July. “I have no standing to sue … people should know the truth about what can happen in a federal facility,” Mark said. “My brother might have been murdered. This is not about me.” [..] Weeks after Epstein’s death, a judge announced that the criminal case against him was closed. “Because Jeffrey Epstein, the defendant, died while this case was pending, and therefore before a final judgment was issued, the Indictment must be dismissed under rule of abatement,” Judge Richard Berman wrote in late August.

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Dracula simia, also called “monkey orchid”

 

 

 

 

 

Nov 062019
 
 November 6, 2019  Posted by at 9:34 am Finance Tagged with: , , , , , , , , , , ,  17 Responses »


Dorothea Lange ‘We’re bound for Kingfisher (OK wheat) and Lubbock (TX cotton). We’ll be in California yet. 1938

 

ABC Stopped Jeffrey Epstein Report ‘Amid Palace Threats’ (BBC)
MSM Execs Part Of ‘Network Of People’ That Covered For Epstein – O’Keefe (RT)
Roger Stone, Trump Friend And Alleged Tie To WikiLeaks, Faces Trial (NPR)
Amid 2016 Election, State Dept Saw Burisma As Joe Biden’s Issue (Solomon)
Sondland Reverses Himself On Ukraine (Pol.)
Ryanair Grounds Three Boeing 737s After Cracks Found (G.)
Boeing Whistleblower Raises Doubts Over 787 Oxygen System (BBC)
The Recession In The Auto Industry Is Tanking The Global Economy (ZH)
China Signs Nearly 200 Deals For New Silk Road Projects (RT)

 

 

The BBC turns on Andrew?

ABC Stopped Jeffrey Epstein Report ‘Amid Palace Threats’ (BBC)

Leaked footage shows a US TV anchor complaining that editors “quashed” a story about paedophile Jeffrey Epstein due to pressure from the Royal Family. ABC’s Amy Robach is seen in the clip griping that her interview with an alleged victim of Epstein and Prince Andrew never made it to air. “The Palace found out,” she says, “and threatened us a million different ways.” An ABC news executive said there was “zero truth” to the assertion. Epstein, a wealthy and well-connected financier, was found dead in a jail cell in August while awaiting trial for sex crimes. His death was ruled a suicide by investigators. In the video, Ms Robach vents frustration that her 2015 interview with Virginia Giuffre – formerly Virginia Roberts – was never broadcast.

The clip was leaked on Tuesday by Project Veritas, a group that seeks to expose perceived liberal bias in the mainstream media. Ms Giuffre, 35, alleges she was abused by Epstein and was ordered to have sex with powerful men including Prince Andrew, the Duke of York. In court documents she said she was forced to have sex with the British royal on three separate occasions while she was under the legal age of consent. Prince Andrew has denied having “any form of sexual contact or relationship” with Ms Giuffre. In 2015, a judge ruled that the allegations made by Ms Giuffre regarding Prince Andrew were “immaterial and impertinent” and ordered them to be removed from a claim against Epstein.

“I’ve had this story for three years. I’ve had this interview with Virginia Roberts,” says Robach, speaking to someone off-camera. “We would not put it on the air. First of all, I was told, ‘who’s Jeffrey Epstein? No one knows who that is. This is a stupid story.’ “Then the Palace found out that we had her whole allegations about Prince Andrew and threatened us a million different ways. “We were so afraid that we wouldn’t be able to interview Kate and Will. “That also quashed the story,” the host of ABC’s 20/20 programme added. Robach also says that the interview included allegations against former US President Bill Clinton. “We had everything,” she continues. “I tried for three years to get it on, to no avail. “And now it’s all coming out and it’s like these new revelations and I freaking had all of it.”

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“They’re fine airing the allegations against Brett Kavanaugh, or [President Donald] Trump, or anybody else, but when it comes to Bill Clinton and some of these folks who are mentioned by Amy in this hot mic tape, they say they just didn’t have enough corroboration..”

MSM Execs Part Of ‘Network Of People’ That Covered For Epstein – O’Keefe (RT)

ABC and other mainstream media outlets refused to cover accusations against sex predator Jeffrey Epstein because “a network of people” that includes their executives were implicated, James O’Keefe of Project Veritas told RT. The Disney-owned network has doubled down on its insistence that anchor Amy Robach’s story on Epstein three years ago lacked “enough corroboration” and thus wasn’t aired. This was after Project Veritas released a “hot mic” video of Robach slamming the decision to quash the story. The conservative filmmaker told RT on Tuesday that he believes ABC’s refusal to budge from that explanation backs up Robach’s claim that “a network of people” – including the executives running her channel – are “covering up for this” because they are somehow “implicated.”

Robach had interviewed Epstein’s alleged sex slave Virginia Roberts Giuffre and other victims and claimed to have pictures and other proof to back up her story. The never-aired exposé was such a bombshell that it provoked intimidating calls from “the [UK royal] palace, which threatened [ABC] a million different ways,” and Epstein lawyer Alan Dershowitz – and the media establishment, O’Keeffe said, is very susceptible to such threats. Mainstream media’s decisions to suppress major stories like Epstein or the allegations of sexual assault against Hollywood producer Harvey Weinstein have contributed to a wholesale abandonment of trust in the media by the American people, O’Keeffe continued.

“It’s quite telling that this insider leaked this tape to Project Veritas and not the Washington Post, New York Times, CBS or CNN, because they seem to want to protect the people that were working with Jeffrey Epstein,” he added. They’re fine airing the allegations against Brett Kavanaugh, or [President Donald] Trump, or anybody else, but when it comes to Bill Clinton and some of these folks who are mentioned by Amy in this hot mic tape, they say they just didn’t have enough corroboration,” O’Keefe said, recalling that Robach had specifically mentioned that “we had [Bill] Clinton.”

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The advantages of silencing Assange: people can claim anything at all that would support any claim at all no matter how absurd. Assange and Wikileaks have denied any link to Stone, and he himself has too. But it no longer matters with Julian locked up in solitary. And now they use Stone’s empty braggadocio in an actual trial?!

Literally nothing in this report from NPR is true. But who cares anymore?

Roger Stone, Trump Friend And Alleged Tie To WikiLeaks, Faces Trial (NPR)

Stone and some of his associates may have been links in a chain that connected Trump in New York City with WikiLeaks founder Julian Assange in London, who at the time had confined himself in the Ecuadorian Embassy there. Assange, in turn, was in contact with Russia’s military intelligence agency, the GRU, which had stolen a trove of embarrassing material from political targets in the United States. WikiLeaks released many of those emails and other documents with disruptive effects on political life in the U.S. — and enjoyed public encouragement by Trump and his campaign. What Mueller’s investigation revealed was how much Trump and aides worked to get more.


The campaign built into its plans the expectation that there would be more damaging revelations about Hillary Clinton, and Trump’s campaign bosses also sought contact with some people connected with the interference over the course of the election season. Charging documents in Stone’s case describe a message from one of Stone’s contacts depicting the person in a photo taken outside the Ecuadorian Embassy — implying that he’d visited Assange — and other messages in which Stone and associates discuss the prospect of more “dumps” from WikiLeaks.

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Solomon rules.

Amid 2016 Election, State Dept Saw Burisma As Joe Biden’s Issue (Solomon)

In recent interviews, Joe Biden has distanced himself from his son’s work at a Ukrainian gas company that was under investigation during the Obama years, with the former vice president suggesting he didn’t even know Hunter Biden served on the board of Burisma Holdings. There is plenty of evidence that conflicts with the former vice president’s account, including Hunter Biden’s own story that he discussed the company once with his famous father. There also was a December 2015 New York Times story that raised the question of whether Hunter Biden’s role at Burisma posed a conflict of interest for the vice president, especially when Joe Biden was leading the fight against Ukrainian corruption while Hunter Biden’s firm was under investigation by Ukrainian prosecutors.

But whatever the Biden family recollections, the Obama State Department clearly saw the Burisma Holdings investigation in the midst of the 2016 presidential election as a Joe Biden issue. Memos newly released through a Freedom of Information Act lawsuit filed by the Southeastern Legal Foundation on my behalf detail how State officials in June 2016 worked to prepare the new U.S. ambassador to Ukraine, Marie Yovanovitch, to handle a question about “Burisma and Hunter Biden.” In multiple drafts of a question-and-answer memo prepared for Yovanovitch’s Senate confirmation hearing, the department’s Ukraine experts urged the incoming ambassador to stick to a simple answer. “Do you have any comment on Hunter Biden, the Vice President’s son, serving on the board of Burisma, a major Ukrainian Gas Company?,” the draft Q&A asked.

The recommended answer for Yovanovitch: “For questions on Hunter Biden’s role in Burisma, I would refer you to Vice President Biden’s office.” The Q&A is consistent with other information flowing out of State. As I reported yesterday, when a Burisma representative contacted State in February 2016 to ask for the department’s help in quashing the corruption allegations, Hunter Biden’s role on the company’s board was prominently cited. And a senior State Department official who testified recently in the impeachment proceedings reportedly told lawmakers he tried to warn the vice president’s office that Burisma posed a conflict for Joe Biden but was turned aside. There are no laws that would have prevented Hunter Biden from joining Burisma, even as his father oversaw Ukraine policy for the President Obama..

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400 pages means hours and hours of testimony, but he ‘forgot’ to mention the one thing he knew very well was key to it all? And now, after talking to “the right” people, he suddenly remembers? I’d give Sondland an F- on credibility.

Sondland Reverses Himself On Ukraine (Pol.)

In his revised testimony, released Tuesday by House impeachment investigators, Sondland said that during a Sept. 1 meeting in Warsaw, Poland, Ukrainian President Volodymyr Zelensky raised his concerns to Vice President Mike Pence about the suspension of military aid. Sondland, Trump’s ambassador to the European Union, added that he later told Andriy Yermak, a top Ukrainian national security adviser, the aid would be contingent on Trump’s desired investigations. “After that large meeting, I now recall speaking individually with Mr. Yermak, where I said that resumption of U.S. aid would likely not occur until Ukraine provided the public anti-corruption statement that we had been discussing for many weeks,” Sondland wrote in his addendum, which was released alongside a nearly 400-page transcript of his testimony.


Sondland revealed the exchange in supplemental testimony he submitted to House impeachment investigators on Monday, saying he had failed to recall the episode when he testified in person last month. Sondland, who had a direct line to Trump and was a major donor to his 2016 presidential campaign, had previously indicated he was unaware of any effort to connect military aid to Trump’s demand for politically motivated investigations. Sondland was eager to maintain that public posture, even with other U.S. officials working on Ukraine policy. Eight days after privately telling Yermak that military aid was contingent on Trump’s desired investigations, Sondland wrote in a text message to William Taylor, the top U.S. diplomat in Ukraine, that Trump had been “crystal clear” that there was no quid pro quo involving military aid and publicly announced investigations.

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It’s all over now, baby blue.

Ryanair Grounds Three Boeing 737s After Cracks Found (G.)

At least three Ryanair Boeing 737s have been grounded due to cracks between the wing and fuselage but this was not disclosed to the public, the Guardian can reveal. The budget Irish airline is the latest to be affected by faults in the “pickle fork” structure, which has sparked an urgent grounding of 50 planes globally since 3 October. While other airlines, such as Australia’s Qantas and America’s Southwest, have disclosed the number of their planes affected by the cracks, Ryanair – which operates the largest fleet of 737s in Europe – has previously refused to confirm how many of its planes have been affected. Last Thursday, the airline told the Irish Times it “does not expect” the global pickle fork issue would “have any impact upon our operations or fleet availability”.


The Guardian can now reveal three of their planes have been affected by the issue. It is understood that experts do not regard the presence of the cracks as a safety issue as long as appropriate checks are carried out. The grounded planes have the registration numbers EI-DCL, EI-DAL and EI-DCJ. All three are more than 15 years old. Flight tracking site Flight Aware shows that DCL and DAL are both currently in a known plane repair site, the Southern California Logistics Airport in Victorville, California. The third plane, DCJ, is in storage at Stansted airport in London. A copy of internal Ryanair engineering logs, seen by the Guardian, lists all three as having “pickle fork cracks”. “AOG [aircraft on ground] – R/H pickle fork crack – on repair in VCV [Victorville],” the logs for DAL read.

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Boeing’s response and defense: “safety, quality and integrity are at the core of Boeing’s values”. Maybe try another line next time.

Boeing Whistleblower Raises Doubts Over 787 Oxygen System (BBC)

A Boeing whistleblower has claimed that passengers on its 787 Dreamliner could be left without oxygen if the cabin were to suffer a sudden decompression. John Barnett says tests suggest up to a quarter of the oxygen systems could be faulty and might not work when needed. He also claimed faulty parts were deliberately fitted to planes on the production line at one Boeing factory. Boeing denies his accusations and says all its aircraft are built to the highest levels of safety and quality. The firm has come under intense scrutiny in the wake of two catastrophic accidents involving another one of its planes, the 737 Max.

Mr Barnett, a former quality control engineer, worked for Boeing for 32 years, until his retirement on health grounds in March 2017. From 2010 he was employed as a quality manager at Boeing’s factory in North Charleston, South Carolina. This plant is one of two that are involved in building the 787 Dreamliner, a state-of-the-art modern airliner used widely on long-haul routes around the world. Despite early teething problems following its entry into service the aircraft has proved a hit with airlines, and a useful source of profits for the company. But according to Mr Barnett, 57, the rush to get new aircraft off the production line meant that the assembly process was rushed and safety was compromised. The company denies this and insists that “safety, quality and integrity are at the core of Boeing’s values”.

In 2016, he tells the BBC, he uncovered problems with emergency oxygen systems. These are supposed to keep passengers and crew alive if the cabin pressurisation fails for any reason at altitude. Breathing masks are meant to drop down from the ceiling, which then supply oxygen from a gas cylinder. Without such systems, the occupants of a plane would rapidly be incapacitated. At 35,000ft, (10,600m) they would be unconscious in less than a minute. At 40,000ft, it could happen within 20 seconds. Brain damage and even death could follow.

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Best news ever for the climate movement.

The Recession In The Auto Industry Is Tanking The Global Economy (ZH)

The global economy continues to grind to a halt and the culprit has never been clearer: the auto industry. For the better part of almost 2 years now, we have been reporting monthly on marked slowdowns in key auto markets like China, North America and Europe. Now, the slowdown in this massive industry is what’s helping spur an overall global economic slowdown, according to FT. The reaches of the auto market go deep, with long supply chains and large consumption of raw materials, textiles, chemicals and electronics. The industry is home to millions of jobs and last year, the sector shrank for the first time since the global financial crisis. The IMF is estimating that this fall in output accounted for more than 25% of the slowdown in the global economy between 2017 and 2018.


The sector may also be responsible for up to 33% of the slowdown in global trade growth over the same period, the IMF said. Gian Maria Milesi-Ferretti, deputy director of the IMF’s research department said: “The car sector has been weighing heavily on manufacturing activity and growth.” And the fund’s forecast of a small lift in global trade in 2020 is dependent on a recovery in the auto sector. Conversely, the fund’s analysis also notes the potential further damage that could occur if the auto sector becomes the focus of the ongoing U.S./China trade war.

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But who pays? And in what currency?

China Signs Nearly 200 Deals For New Silk Road Projects (RT)

China’s trillion-dollar Belt and Road Initiative (BRI), also known as “One Belt, One Road,” has already attracted nearly 170 participants, Chinese President Xi Jinping has announced, vowing to further develop the project. “To date, China has signed 197 documents on Belt and Road cooperation with 137 countries and 30 international organizations,” he said in the opening speech at the China International Import Expo in Shanghai on Tuesday. The development of the initiative, which is aimed at boosting trade connections across the world and linking China with other countries, is a central part of plans to open up the Chinese market, according to Xi.


Other proposed measures include boosting investment and imports, lowering tariffs, developing free-trade zones, improving business environment as well as deepening bilateral and multilateral cooperation. “Standing at a new historical starting point, China will open its door only wider to the world,” Xi stated, calling for other countries to “stand firm against protectionism and unilateralism.” The ambitious BRI, launched in September 2013 by President Xi, could cost Beijing up to $1.3 trillion by 2027, according to Morgan Stanley’s estimates.

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Oct 312019
 
 October 31, 2019  Posted by at 8:28 am Finance Tagged with: , , , , , , , , ,  13 Responses »


Paul Gauguin Van Gogh painting sunflowers 1888

 

Trump-Ukraine Whistleblower Revealed (GP)
Adam Schiff Coached Vindman Throughout Impeachment Testimony – Nunes (ZH)
Tulsi Gabbard Unleashes On Erdogan: “Radical Islamist Megalomaniac” (ZH)
We May Not Have A 2020 Election – Kunstler (USAW)
The Fumes of Fanaticism (Kunstler)
Boeing Employee Raised Concern Over Max Sensor Three Years Before Crashes (G.)
Over 50 Boeing 737NG Grounded Globally With Wing-Related Cracks (RT)
Union Calls On Qantas To Ground Entire 737 Fleet For Investigation (G.)
The Age of Anger Exploding in Serial Geysers (Pepe Escobar)
Russia-India Counter-Terrorism Group Vows ‘Credible Action’ (RT)
Famed Pathologist Michael Baden Says Jeffrey Epstein’s Death Was Homicide

 

 

Yeah, I know what I said: no more Debt Rattles. But then yesterday I found myself looking at the Epstein story, the whistleblower revealed, and some Boeing stuff, Jim Kunstler etc., and I was thinking: I should at least keep those for reference. So I injected them into the Debt Rattle format, and that sort of gelled. And so I decided I can perhaps do this, but I did give myself a deadline: it can not cost more than two hours in the morning. Which means some of these Things will be short, and some days there may not be one.

Oh, and we still need financial support, badly. People have been mighty generous this week, but we would need 52 such weeks in the year.

 

 

OK, now we know. What is the next step?

Trump-Ukraine Whistleblower Revealed (GP)

The anti-Trump whistleblower behind the Ukraine witch hunt was revealed on Wednesday night. According to investigative reporter Paul Sperry, one person’s name keeps coming up in the impeachment hearings that fits the description of the whistleblower — Eric Ciaramella. We have reported on Ciaramella previously at The Gateway Pundit. 33-year-old Ciaramella is a registered Democrat, worked for Obama, worked for Biden, worked for CIA Director John Brennan, he’s a vocal critic of Trump and he helped initiate the ‘Russia collusion’ hoax investigation! Ciaramella’s identity was an open secret in the DC swamp, says Paul Sperry.


Mr. Ciaramella is a CIA officer who specializes in Russia and Ukraine who was detailed to work in the National Security Council under Susan Rice in 2015. He was then moved into the West Wing in 2017 to ‘fill a vacancy’ where he was able to ‘see and read everything.’ The Gateway Pundit and others had already identified Ciaramella as Schiff’s CIA whistleblower. But we were not the first to point out that this dangerous Obama operative was working in the Trump White House and was given access to top secret information. Mike Cernovich warned the Trump administration about Eric Ciaramella back in June 2017.

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Vindman is yet another ‘witness’ whose import is heavily promoted.

Adam Schiff Coached Vindman Throughout Impeachment Testimony – Nunes (ZH)

Rep. Devin Nunes claims that House Intelligence Committee Chairman Adam Schiff was coaching Lieutenant Colonel Alexander Vindman, the director of European affairs at the National Security Council (NSC), as he told House committees that he “did not think it was proper” for President Trump to ask Ukrainian President Volodomyr Zelensky to investigate former VP Joe Biden during a July 25 phone call. “I have never in my life seen anything like what happened today, during the testimony of Lt. Col. Alexander Vindman,” Nunes told Fox News’ “Hannity.”


“It was unprecedented,” Nunes continued. “I mean, they’ve been bad at most of these depositions, but to interrupt us continually to coach the witness, to decide… what we’re going to be able to ask the witness.” “And, to see someone coach a witness, this isn’t the first time that Schiff — Schiff is very good at coaching witnesses.”

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I see more and more people suggesting Tulsi is really a Republican. Ostensibly because you cannot be a Democrat and not agree with Hillary and her DNC. Expect ugliness.

Tulsi Gabbard Unleashes On Erdogan: “Radical Islamist Megalomaniac” (ZH)

A day after the US House of Representatives in a historic vote overwhelmingly passed a resolution to recognize the Armenian Genocide, resulting in an immediate fierce rebuke from Ankara, Democratic Congresswoman and presidential candidate Tulsi Gabbard issued a video statement slamming Turkish President Tayyip Erdogan as “a radical Islamist megalomaniac” who for years supported ISIS. Erdogan has been “slaughtering the Syrian Kurds and he’s using terrorists from ISIS and al-Qaeda as his militia,” she explained, and has “been helping ISIS/AQ for years,” according to the social media video message.

She also reiterated her consistent position that the Islamic State was born of the externally funded and weaponized push to overthrow the Assad government. “He has denied this but is now openly using militias of ‘former’ ISIS/AQ terrorists, exposing him for what he really is: a radical Islamist megalomaniac who wants to establish a caliphate with himself as the Caliph — the supreme ruler.” The Democratic presidential candidate said Turkey is now doing this “openly” and “brazenly” but also reminded her audience that she’s been warning about this for years.

[..] Concerning the Saudis, she joined relatives of Sept. 11 victims on Tuesday to demand the US government release its full findings on the role that Saudi state operatives played in the 9/11 attacks. “We are 18 years removed from this terrible crime, and the victims of this crime, the families who are here today, the American people deserve all of the evidence to fully come to light,” the Hawaii congresswoman said.

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Jim Kunstler is one of very few people who agree with me that Trump is not the biggest factor, his antagonists are, in intelligence, in the Democratic party, and perhaps most of all in the media. The MSM have taken it upon themselves to control what you think. And if you get your news mostly from CNN or the NYT or WaPo, what defenses do you have?

We May Not Have A 2020 Election – Kunstler (USAW)

“What I am waiting for is if and when indictments come down from Mr. Barr and Mr. Durham. I am wondering whether the editors and publishers of the Washington Post and New York Times and the producers at CNN and MSNBC are going to be named as unindicted co-conspirators in this effort to gaslight the country and really stage a coup to remove the President and to nullify the 2016 election. I say this as someone who is not necessarily a Trump supporter. I didn’t vote for the guy. I am not a cheerleader for the guy, but basically, I think the behavior of his antagonists has been much worse and much more dangerous for the nation and the American project as a long term matter.

I really need to see some action to hold people responsible for the acts they have committed. . . . I am not an attorney, and I have never worked for the Department of Justice, but it seems to me that by naming the publishers and editors of these companies as unindicted co-conspirators, that allows you to avoid the appearance of trying to shut down the press because you are not going to put them in jail, but you are going to put them in disrepute. That may prompt their boards of directors to fire a few people and maybe change the way they do business at these places.”

“When all is said and done, I am not convinced there is enough there to convict President Trump of anything. At the same time, there is probably going to be a lot of legal actions brought against the people who started this coup against him, and that’s going to be extremely disturbing to the Left. I think one of the possibilities is we may not have a 2020 election. In some way or another, the country may be so disorderly that we can’t hold an election. There may be so much strife that we cannot handle the legal questions around holding the election, and it may be suspended. I don’t know what that means, but I am very impressed of the disorder that we are already in. It’s more of a kind of mental disorder between the parties, but it could turn into a lot of kinetic disorder on the ground and a lot of institutional failure.”

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And some more of that.

The Fumes of Fanaticism (Kunstler)

Judging by the volume of intemperate emails and angry social media blasts that come my way, the party of impeachment seems to be inhaling way too much gas from the smoking guns it keeps finding in the various star chambers of its inquisition against you-know-who. You’d think that the failure of Mr. Mueller’s extravaganza might have chastened them just a little — a $32 million-dollar effort starring the most vicious partisan lawyers inside-the-Beltway, 2,800 subpoenas issued over two years, 500 search warrants exercised, and finally nothing whatever to pin on Mr. Trump — except the contra-legal assertion that now he must prove his innocence.

When you state just that, these frothing hysterics reply that many background figures — if not the Golden Golem of Greatness himself — were indicted and convicted of crimes by Mr. Mueller’s crew. Oh yes! The Russian troll farm called the Internet Research Agency was indicted for spending $400,000 on Facebook ads (and never extradited or tried in a court-of-law). Pretty impressive victory there! The hacking of Hillary Clinton’s emails by “Russia”? Still just alleged, never proven, with plenty of shady business around the search for evidence. Paul Manafort, on tax evasion of money earned in Ukraine, 2014? We’ll see about that as the whole filthy business of the 2014 Ukraine regime change op under Mr. Obama gets reviewed in the months ahead.

George Papadopoulos for lying to the FBI? Stand by on that one, too; still a developing story. General Michael Flynn, for ditto? You may have noticed that General Flynn’s case is shaping up to be the biggest instance of prosecutorial misconduct since the Dreyfus affair (France, 1894-1906, which badly-educated Americans most certainly know nothing about). To set the record straight I’m forced to repeat something that these New Age Jacobins seem unable to process: you don’t have to be a Trump cheerleader to be revolted by the behavior of his antagonists, which is a stunning spectacle of bad faith, dishonesty, incompetence, and malice — and is surely way more toxic to the American project than anything the president has done.

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Haven’t really seen much of day 2, but it looks like more posing by Capitol Hill. If one person, dies, you get a crminal investigation. And when 346 die, you get a hearing in the House?!

Boeing Employee Raised Concern Over Max Sensor Three Years Before Crashes (G.)

In a second day of congressional hearings into Boeing’s handling of its ill-fated 737 Max plane, lawmakers were shown internal records revealing that three years before two fatal crashes one employee had expressed concern that an anti-stall flight system at the center of crash investigations could be triggered by a single sensor. “Are we vulnerable to single [angle-of-attack] failures with [the system’s] implementation or is there some checking that occurs?” a Boeing employee asked in an email from December 2015, nearly three years before the first Max 737 crash in Indonesia almost exactly a year ago. The employee, who has not been identified, was referring to a sensor on the outside of the plane that measured its angle in flight and could trigger a system, known as MCAS, to push it down if it thought the aircraft was at risk of stalling.


Relying on a single sensor, aviation experts say, is fundamentally dangerous. With no back-up any malfunction could trigger the plane into a dive – as investigators believe happened with both the Lion Air and Ethiopian Airline crashes, killing 346. The release of the document, in addition to warnings from Boeing’s chief test pilot that the MCAS system could engage without warning, adds to belief that Boeing overlooked safety in a rush to put the Max 737, its most profitable model, into production. The new email is among others unearthed during withering transportation committee hearings during which lawmakers have repeatedly assailed Boeing’s CEO, Dennis Muilenburg, over a failure to prioritize safety. “You have a systemic problem in your company. You’re driving profit. You’re not driving quality, and you’re sure as heck not driving safety,” the California Democrat John Garamendi told the chief executive.

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NG=Not Good.

Over 50 Boeing 737NG Grounded Globally With Wing-Related Cracks (RT)

Boeing has confirmed that it has grounded over 50 of its planes around the world, after wing-related cracks were discovered, while the company’s CEO has admitted to making safety mistakes. It’s the US aviation giant’s 737NG (Next Generation) model that is now under scrutiny. The plane is a precursor to the infamous Boeing 737 MAX, which killed 346 people in two crashes in Indonesia and Ethiopia, and has been grounded since March. A Boeing spokesperson told AFP that some 1,000 planes worldwide had “reached the inspection threshold.” The problem these inspections zeroed in on was the so-called ‘pickle fork’ – a part of the plane that connects the fuselage to the wing. The US aviation authority this month ordered checks of Boeing 737NG planes that had made over 30,000 flights.

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33 planes at over $100 million a piece. When are the airlines going to sue Boeing?

Union Calls On Qantas To Ground Entire 737 Fleet For Investigation (G.)

Australia’s aircraft engineers association has called on Qantas to ground all of its Boeing 737 aircraft after cracks were discovered in one of its planes. Steve Purvinas, the federal secretary of the Australian Licensed Aircraft Engineers Association (ALAEA), said the fleet of 33 should be “grounded until such time that Qantas can establish which aircraft are safe and which aircraft aren’t”. According to Purvinas, the crack was discovered in a part of the plane known as the “pickle fork”, which is part of the landing gear. “It is a primary structure which takes the load off the wing,” he told the ABC on Thursday. “This could cause loss of control of an aircraft, and Qantas shouldn’t be flying them.”

“The first [crack] found on a Qantas aircraft was about an inch long, it’s very small. But these things do propagate very quickly when they’re under load…It’s when that grows, and that grows very quickly, that you have problems.” He told the ABC on Thursday that another crack had been found in a second plane overnight. On Thursday morning, Qantas announced it would bechecking more than 30 of its Boeing 737 aircraft after cracking was discovered in one plane during a maintenance check. But Purvinas said the airline should go further and ground the fleet.

[..] The problem came to light after Boeing said that it had found cracking in a part of the 737NG (the model before the troubled 737 Max) called the “pickle fork” on jets being overhauled in China. Nearly 5% of 810 inspections subsequently conducted have found cracks in the part, which attaches the plane’s fuselage to the wing. Purvinas told the ABC that repairs on this kind of crack take “months to fix” and require a special Boeing team.

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The IMF. All the way down.

The Age of Anger Exploding in Serial Geysers (Pepe Escobar)

The presidential election in Argentina was no less than a game-changer and a graphic lesson for the whole Global South. It pitted, in a nutshell, the people versus neoliberalism. The people won – with new President Alberto Fernandez and former President Cristina Fernández de Kirchner (CFK) as his VP. Neoliberalism was represented by Mauricio Macri: a marketing product, former millionaire playboy, president of football legends Boca Juniors, fanatic of New Age superstitions, and CEO obsessed with spending cuts, who was unanimously sold by Western mainstream media as the new paradigm of a post-modern, efficient politician.

Well, the paradigm will soon be evacuated, leaving behind a wasteland: $250 billion in foreign debt; less than $50 billion in reserves; inflation at 55 percent; the U.S. dollar at over 60 pesos (a family needs roughly $500 to spend in a month; 35.4 percent of Argentine homes can’t make it); and, incredible as it may seem in a self-sufficient nation, a food emergency. Macri, in fact the president of so-called Anti-Politics, No- Politics in Argentina, was a full IMF baby, enjoying total “support” (and gifted with a humongous $58 billion loan). New lines of credit, for the moment, are suspended. Fernandez is going to have a really hard time trying to preserve sovereignty while negotiating with foreign creditors, or “vultures,” as masses of Argentines define them.

There will be howls on Wall Street and in the City of London about “fiery populism,” “market panicking,” “pariahs among international investors.” Fernandez refuses to resort to a sovereign default, which would add even more unbearable pain for the general public. The good news is that Argentina is now the ultimate progressive lab on how to rebuild a devastated nation away from the familiar, predominant framework: a state mired in debt; rapacious, ignorant comprador elites; and “efforts” to balance the budget always at the expense of people’s interests.

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Don’t really know what to make of this, let’s see.

Russia-India Counter-Terrorism Group Vows ‘Credible Action’ (RT)

Moscow and New Delhi will boost cooperation in the fight against terrorism and destroy militant “safe havens” around the world, the two countries’ counter-terror working group said in a joint statement. Meeting in India’s capital on Wednesday, the working group condemned “terrorism in all its forms and manifestations,” and called for deeper ties on counter-terror issues, including through “intensifying exchange of information” and “regular meetings at [the] experts level.” The two parties also stressed the need for “credible, irreversible … action against terrorists” and terrorist “safe havens” – particularly in the South Asia region – “without double standards.” Drug trafficking and other avenues of funding for militant groups, as well as countering extremism on the internet, were also touched upon.

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Strongly denied by the NY medical examiner.

Famed Pathologist Michael Baden Says Jeffrey Epstein’s Death Was Homicide

New York City’s former chief medical examiner insisted Wednesday that Jeffrey Epstein’s death was a homicide. Forensic pathologist Dr. Michael Baden was hired by the pedophile’s brother, Mark Epstein, to observe his autopsy after he was found hanged in his Manhattan lockup in August. “I think that the evidence points toward homicide rather than suicide,” Baden insisted on Fox News Wednesday. “The brother is concerned that if [Epstein] was murdered, then other people who have information might be at risk,” Baden insisted, suggesting powerful players may have been involved in the death.


“If they think he has information, his life could be in jeopardy.” Baden said there were signs of “unusual” activity “from day one” of the autopsy, saying the wounds were “more consistent with ligature homicidal strangulation.” Baden noted three fractured bones in the sex attacker’s thyroid that he insisted he has never before seen from a hanging death in 50 years of examinations. “Hanging does not cause these broken bones and homicide does,” he insisted on Fox. “A huge amount of pressure was applied.”

Read more …

 

Saw this map of remaining elephant populations and noticed most of them are where recently researchers said the origin of mankind is.

 

 

 

 

 

Oct 092019
 


Vilhelm Hammershoi Woman Seen from the Back 1888

 

White House Says It Will Refuse To Cooperate With Impeachment Inquiry (R.)
Oh My God, They Killed CNY! You Bastards (Every)
Powell Says The Fed Will Start Expanding Its Balance Sheet ‘Soon’ (CNBC)
Boris Johnson Facing No-Deal Brexit Cabinet Rebellion (R.)
EU May Offer To Extend Deadline For Brexit Deal To June (G.)
Brexit Is A Necessary Crisis, Reveals Britain’s True Place In The World (G.)
Time To Reassess CrowdStrike’s Credibility (Kelly)
Jeffrey Epstein Accuser Expands Lawsuit Against Estate, Alleged Enablers (R.)
Refugee Explosion “Greater” Than 2015 To Hit Europe – German Minister (ZH)

 

 

Tried hard to find a nonpartial view, but that just gets harder all the time.

White House Says It Will Refuse To Cooperate With Impeachment Inquiry (R.)

The White House said on Tuesday it would refuse to cooperate with an “illegitimate, unconstitutional” congressional impeachment inquiry, setting Republican President Donald Trump on a collision course with the Democratic-led U.S. House of Representatives. Hours after the administration abruptly blocked a key witness in the Ukraine scandal from testifying to congressional panels, White House lawyer Pat Cipollone criticized the decision by lawmakers to proceed with an impeachment inquiry without a full House vote. “You have designed and implemented your inquiry in a manner that violates fundamental fairness and constitutionally mandated due process,” he said, adding House Democrats had left Trump “no choice.”


“To fulfill his duties to the American people, the Constitution, the Executive Branch and all future occupants of the Office of the Presidency, President Trump and his administration cannot participate in your partisan and unconstitutional inquiry under these circumstances,” he said. [..] White House lawyer Cipollone described the probe as “a naked political strategy” that violated Trump’s due process rights and was designed to reverse the 2016 presidential election and influence the November 2020 election. “Your transparent rush to judgment, lack of democratically accountable authorization, and violation of basic rights in the current proceedings make clear the illegitimate, partisan purpose” of the inquiry, he said.

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Brilliant both from Michael Every of Rabobank and the South Park crew.

“Like the NBA, we welcome the Chinese censors into our homes and into our hearts. We too love money more than freedom and democracy.”

Oh My God, They Killed CNY! You Bastards (Every)

”The upcoming ‘Top Gun 2’ stars Tom Cruise, still trying to look like he did in the 1980s, but no longer able to do all his own stunts: which is just like US foreign policy “ [..] the most honest commentary on where we now stand under globalisation comes not from the eschatological of intellectuals or politicians telling us democracy is under threat and free trade is great, not spotting Marxist and populist criticism that the two are linked; instead it comes from the scatology of ‘South Park’.[..] the most honest commentary on where we now stand under globalisation comes not from the eschatological of intellectuals or politicians telling us democracy is under threat and free trade is great, not spotting Marxist and populist criticism that the two are linked; instead it comes from the scatology of ‘South Park’


So is the US flailing or retreating like the Romans? No. It is focusing on its mighty financial weapons and physically fighting where it can achieve what matters most…if one is not thinking about Iran, but China. As Trump underlined: “WE WILL FIGHT WHERE IT IS TO OUR BENEFIT, AND ONLY FIGHT TO WIN.” Where does it benefit most fighting, globally? Three guesses… The greatest likelihood is still that if Trump gets past his latest tipping point then at some (tipping) point soon markets are going to cry “Oh my God, they killed CNY!” as the Chinese currency collapses.

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As Big As Japan.

Powell Says The Fed Will Start Expanding Its Balance Sheet ‘Soon’ (CNBC)

The Federal Reserve will soon start growing its balance sheet again, a response in part to the jolt to overnight lending markets in September, Chairman Jerome Powell said Tuesday. How the Fed will go about expanding the securities it holds will be explained in the coming days, though Treasury bill purchases will be involved, the central bank chief said during a speech in Denver, though Powell stressed the approach shouldn’t be confused with the quantitative easing done during and after the financial crisis. “This is not QE. In no sense is this QE,” he said in a question and answer session after the speech.


On monetary policy more broadly, Powell stuck to his recent script: He and his fellow policymakers view the economy as being strong but susceptible to shocks, particularly from a global slowdown, trade and geopolitics like a potentially messy Brexit. He said the Fed stands committed to supporting the recovery but is data dependent and not on a preset course of cutting rates. The Fed has reduced its benchmark rate twice in 2019 and is expected to approve a third cut late this month.

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The EU likes this.

Boris Johnson Facing No-Deal Brexit Cabinet Rebellion (R.)

British Prime Minister Boris Johnson is facing a new rebellion from his cabinet over concerns of a no-deal Brexit, with a group of cabinet ministers poised to resign, The Times newspaper reported on Wednesday. Culture Secretary Nicky Morgan, British Minister for Northern Ireland Julian Smith, Justice Secretary Robert Buckland, Health Minister Matt Hancock and Attorney General Geoffrey Cox are all on a “resignation watch list”, according to The Times report An unnamed cabinet minister cited by the newspaper said that a “very large number” of Conservative members of parliament will quit if it comes to a no-deal Brexit.


The Times said that ministers had warned Johnson in a cabinet meeting about the “grave” risk of the return of direct rule in Northern Ireland and raised concerns about Dominic Cummings, Johnson’s most senior adviser. “Cabinet will set the strategy, not unelected officials. If this is an attempt to do that then it will fail”, the report quoted another cabinet minister as saying. The report comes as the European Union accused Britain of playing a “stupid blame game” over Brexit after a Downing Street source told Reuters a deal was essentially impossible because German Chancellor Angela Merkel had made unacceptable demands.

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“What’s at stake is not winning some stupid blame game,” Tusk wrote in a tweet directed at the prime minister.”

EU May Offer To Extend Deadline For Brexit Deal To June (G.)

The European Union is poised to extend Brexit talks into as late as next summer after the European council and commission presidents dismissed Boris Johnson’s strategy as a “blame game”. A “range of dates” will now be in play at the meeting of European leaders next week but sources suggested the natural cut-off date would be June. With an extension of the UK’s EU membership now looking inevitable, other diplomatic sources suggested an unlikely outlier for an end date could even be ahead of a possible general election so as to force the Commons into accepting a deal. “But politicians like to keep things off their plates for as long as possible and so pushing it longer seems more realistic,” a senior EU diplomat said.

The negotiations over a deal are said to be effectively dead in Brussels after Downing Street’s extraordinary claims over the substance of a phone call between the German chancellor, Angela Merkel, and the UK prime minister. Merkel was said by an unnamed UK source to have told Johnson that Northern Ireland had to stay in the EU’s customs union. The official claimed that as a consequence a deal looked “essentially impossible, not just now but ever”. Tusk, the European council president, gave an insight into the frustration at the anonymous briefings over the Merkel call, the alleged content of which described by senior politicians in Berlin as “improbable”. The chancellor’s spokesman declined to comment on “confidential conversations”.


“What’s at stake is not winning some stupid blame game,” Tusk wrote in a tweet directed at the prime minister. “At stake is the future of Europe and the UK as well as the security and interests of our people. You don’t want a deal, you don’t want an extension, you don’t want to revoke. Quo vadis? [Where are you going?]” [..] In Berlin Detlef Seif, the point person on Brexit for Merkel’s party, the CDU, rejected the account given by Downing Street of the call between the two leaders. He said: “In my mind it is completely improbable that the phone call between Merkel and Johnson took place in the way it has been reported in the British media. “It would run counter to all the principles the German government has followed for the last three years, namely that the negotiations are led by the European commission.

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“It brings to light, in stunning clarity, Brexiters’ deluded political understanding of the UK’s place in the world.”

“..without it we will remain stuck in the delusional, revivalist politics of a banana monarchy.”

Brexit Is A Necessary Crisis, Reveals Britain’s True Place In The World (G.)

Today much of the capital in Britain is not British and not linked to the Conservative party – where for most of the 20th century things looked very different. Once, great capitalists with national, imperial and global interests sat in the Commons and the Lords as Liberals or Conservatives. Between the wars, the Conservatives emerged as the one party of capital, led by great British manufacturers such as Stanley Baldwin and Neville Chamberlain. The Commons and the Lords were soon fuller than ever of Tory businessmen, from the owner of Meccano toys to that of Lyons Corner Houses.

After the second world war, such captains of industry avoided the Commons, but the Conservative party was without question the party of capital and property, one which stood against the party of organised labour. Furthermore, the Tories represented an increasingly national capitalism, protected by import controls, and closely tied to an interventionist and technocratic state that wanted to increase exports of British designed and made goods. A company like Imperial Chemical Industries (ICI) saw itself, and indeed was, a national champion. British industry, public and private, was a national enterprise.

Since the 1970s things have changed radically. Today there is no such thing as British national capitalism. London is a place where world capitalism does business – no longer one where British capitalism does the world’s business. Everywhere in the UK there are foreign-owned enterprises, many of them nationalised industries, building nuclear reactors and running train services from overseas. When the car industry speaks, it is not as British industry but as foreign enterprise in the UK. The same is true of many of the major manufacturing sectors – from civil aircraft to electrical engineering – and of infrastructure. Whatever the interests of foreign capital, they are not expressed through a national political party. Most of these foreign-owned businesses, not surprisingly, are hostile to Brexit.


[..] Brexit is a necessary crisis, and has provided a long overdue audit of British realities. It exposes the nature of the economy, the new relations of capitalism to politics and the weakness of the state. It brings to light, in stunning clarity, Brexiters’ deluded political understanding of the UK’s place in the world. From a new understanding, a new politics of national improvement might come; without it we will remain stuck in the delusional, revivalist politics of a banana monarchy.

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High time. But is asking questions about CrowdStrike impeachable?

Time To Reassess CrowdStrike’s Credibility (Kelly)

Days before the Senate voted to confirm Brett Kavanaugh last year, a former FBI assistant director appeared on MSNBC to suggest the Supreme Court nominee had a major credibility problem. “This is not…an investigation about the sexual allegations, I think it really has moved toward credibility,” Shawn Henry, an NBC News analyst, told Nicolle Wallace on October 1, 2018. “At this point now, there are very clear allegations, and subsequent to the judge’s testimony, people have come out who appear to be credible who…appear to be contradicting his testimony sworn before the United States Senate.” Henry, clearly reciting Democratic talking points to imply Kavanaugh perjured himself before the Senate Judiciary Committee during his September showdown with Christine Blasey Ford, also referred to Ford as a “victim” and claimed that the FBI’s investigation into Kavanaugh’s testimony had “fallen short.”

Henry was presented to viewers as the channel’s “national security analyst,” but there was one title the network overlooked: Shawn Henry is a top executive for CrowdStrike, the cybersecurity firm hired by the Democratic National Committee to investigate the infamous hack of its email system in early 2016. Perhaps not coincidentally, the firm determined that the Russians were behind the intrusion. CrowdStrike’s June 2016 assessment remains the sole source of evidence to supply the pretext of the government’s Russian election interference claim; later, it would help bolster the Trump-Russia collusion fable. [..] Henry, the president of CrowdStrike’s Washington operation, is a regular contributor to both MSNBC and NBC News programs. (His affiliation with CrowdStrike, however, is never mentioned.)

Although he hasn’t worked for the FBI since 2012, Henry often weighs in as an FBI “expert,” opining on a variety of political issues from government shutdowns to the Kavanaugh debacle. Curiously, his views always come down on the side opposite of Donald Trump and the Republican Party. In March 2017, Henry—who worked for Robert Mueller’s FBI during Barack Obama’s first term—participated in a post-inauguration forum to discuss the implications of Russia’s “hacking” the 2016 presidential election. The panel also featured former Hillary Clinton campaign manager John Podesta and Marc Elias, the general partner at Perkins Coie, a politically-influential law firm based in D.C.. It was a symbolic trio. Perkins Coie hired CrowdStrike in the spring of 2016 on behalf of the DNC.


Instead of going directly to the FBI or other law enforcement agency about the breach, Democratic party leaders, working through Perkins Coie, retained CrowdStrike to find the culprits. Very cozy. But that wasn’t Perkins Coie’s only involvement in the Russia-hacked-the-election plotline. The law firm also hired Fusion GPS—who in turn hired British political operative Christopher Steele to author his infamous dossier—on behalf of the Clinton campaign and the DNC around the same time Perkins retained CrowdStrike. According to disclosure reports, the DNC paid Perkins Coie $7.2 million during the 2016 election cycle: The PAC also paid CrowdStrike more than $400,000 during the same time period. (The DNC has paid CrowdStrike nearly $80,000 so far this year.)

Read more …

#I’mWithHer.

Jeffrey Epstein Accuser Expands Lawsuit Against Estate, Alleged Enablers (R.)

A New York woman who said Jeffrey Epstein began grooming her for sex when she was 14 and later raped her expanded her lawsuit against his estate, naming several women who allegedly enabled the financier’s abuses and seeking to block the estate from shielding his assets from victims. In her amended complaint filed on Tuesday, Jennifer Araoz accused four women by name who once worked with Epstein of misconduct, and added more than 20 corporate defendants associated with the late financier. Araoz, 32, wants “justice not just against Mr. Epstein’s estate, but the network of enablers that surrounded him, and the network of corporate interests that surrounded him,” her lawyer Daniel Kaiser told reporters on a conference call.

“Every penny of his estate should be available to satisfy the claims of victims,” he added. Epstein, 66, died by hanging himself in his Manhattan jail cell on Aug. 10, two days after signing a will and putting his estimated $577 million estate into a trust. Kaiser said it would be obvious to any judge that this was a fraudulent effort to keep his money away from victims. The four women include Ghislaine Maxwell, Epstein’s longtime confidante; Lesley Groff, a former secretary; Cimberly Espinosa, a former executive assistant; and Rosalyn Fontanilla, a former maid who died in October 2016. All but Fontanilla are named as defendants.


Araoz accused the defendants of conspiring to identify and procure a steady stream of underage girls for Epstein to sexually abuse. The defendants “participated with and assisted Epstein in maintaining and protecting his sex trafficking ring, ensuring that approximately three girls a day were made available to him for his sexual pleasure,” the amended complaint said.

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It’s already started.

Refugee Explosion “Greater” Than 2015 To Hit Europe – German Minister (ZH)

The German government is warning that a number of indicators suggest Europe could be on the brink of witnessing a new refugee crisis explode on its borders. Germany’s Interior Minister Horst Seehofer said early this week that refugees and migrants are set to flood Europe on a scale even bigger that the peak of the 2015 crisis. “We must do more to help our European partners with controls on the EU external borders. We have left them alone for too long,” he told Germany’s Bild am Sonntag newspaper after returning from a visit to Greece and Turkey, where he inspected the renewed refugee crisis first hand. “If we do not do that we will once again face a refugee wave like in 2015 or maybe even greater,” Seehofer warned ominously.

Seehofer further said that if the EU doesn’t unite to find “strength to solve this problem problem” it faces total “loss of control” if and when the next major crisis hits. At the height of the crisis three years ago, which was driven by the vastly destabilizing wars in Syria and Libya, and by the turmoil left in the wake of the Islamic State caliphate in western Iraq, there were near weekly mass drownings and accidents involving migrants attempting to traverse the Mediterranean, as well as fires and unrest at makeshift refugee camps in France and Greece. It further created turmoil in the domestic politics of multiple EU countries, with a number of right-wing populist figures and parties coming to power on anti-illegal immigration platforms.


And now, with Turkey on the brink of a major military incursion into northeast Syria, the Middle East is about to witness a major new conflagration resulting in potentially millions of new refugees being pushed out of the Turkey-Syria border region. Coupled with that, Turkey’s President Erdogan recently threatened to release one million refugees on Europe if he can’t have his so-called ‘safe zone’ which is to reach some 30km deep (19 miles) inside Syrian territory. He threatened early last month: “We will be forced to open the gates. We cannot be forced to handle the burden alone,” while demanding that European countries give political support to the controversial plan that would end in annexing UN member Syria’s sovereign territory.

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Oct 072019
 
 October 7, 2019  Posted by at 9:30 am Finance Tagged with: , , , , , , , , , , , , ,  23 Responses »


Print your own Assange mask

 

The ‘Whistleblower’ Probably Isn’t (Taibbi)
DNC Colluded With Ukraine To Boost Hillary By Harming Trump – Report (DWire)
Bob Woodward: GOP Senators ‘Choking’ On Trump-Ukraine Scandal (WE)
In Last Minute Call, Erdogan Agrees To Meet Trump Over Syria ‘Safe Zone’ (ZH)
Arise, Commissioner Farage! (Pol.eu)
Brexit Border Talk Stirs Up Bad Memories In Northern Ireland (G.)
An Actual Conspiracy Kept Jeffrey Epstein’s Accomplices out of Prison
Chinese Farmers Raise Mutant Pigs The Size Of Polar Bears (ZH)
Lula’s Prosecutors Request His Release From Prison. He Refuses. (Greenwald)

 

 

Not even close.

The ‘Whistleblower’ Probably Isn’t (Taibbi)

Start with the initial headline, in the story the Washington Post “broke” on September 18th: “TRUMP’S COMMUNICATIONS WITH FOREIGN LEADER ARE PART OF WHISTLEBLOWER COMPLAINT THAT SPURRED STANDOFF BETWEEN SPY CHIEF AND CONGRESS, FORMER OFFICIALS SAY”. The unnamed person at the center of this story sure didn’t sound like a whistleblower. Our intelligence community wouldn’t wipe its ass with a real whistleblower. Americans who’ve blown the whistle over serious offenses by the federal government either spend the rest of their lives overseas, like Edward Snowden, end up in jail, like Chelsea Manning, get arrested and ruined financially, like former NSA official Thomas Drake, have their homes raided by FBI like disabled NSA vet William Binney, or get charged with espionage like ex-CIA exposer-of-torture John Kiriakou.


It’s an insult to all of these people, and the suffering they’ve weathered, to frame the ballcarrier in the Beltway’s latest partisan power contest as a whistleblower. I’ve met a lot of whistleblowers, in both the public and private sector. Many end up broke, living in hotels, defamed, (often) divorced, and lucky if they have any kind of job. One I knew got turned down for a waitressing job because her previous employer wouldn’t vouch for her. She had little kids. The common thread in whistleblower stories is loneliness. Typically the employer has direct control over their ability to pursue another job in their profession. Many end up reviled as traitors, thieves, and liars. They often discover after going public that their loved ones have a limited appetite for sharing the ignominy. In virtually all cases, they end up having to start over, both personally and professionally.

Read more …

When will the MSM start publishing about the “DNC-UKRAINE SCANDAL”? The Director of the National Anti-Corruption Bureau of Ukraine was convicted in Ukraine for interfering in the U.S. presidential election in 2016…

DNC Colluded With Ukraine To Boost Hillary By Harming Trump – Report (DWire)

The Blaze has released an audio recording that they recently obtained that appears to show Artem Sytnyk, Director of the National Anti-Corruption Bureau of Ukraine, admitting that he tried to boost the presidential campaign of Hillary Clinton by sabotaging then-candidate Donald Trump’s campaign. The connection between the Democratic National Committee (DNC) and the Ukrainian government was veteran Democratic operative Alexandra Chalupa, “who had worked in the White House Office of Public Liaison during the Clinton administration” and then “went on to work as a staffer, then as a consultant, for Democratic National Committee,” Politico reported.

Chalupa was working directly with the Ukrainian embassy in the United States to raise concerns about Trump campaign chairman Paul Manafort and, according to Politico, she indicated that the Embassy was working “directly with reporters researching Trump, Manafort and Russia to point them in the right directions.” The Ukrainian embassy political officer who worked at the embassy at the time, Andrii Telizhenko, stated that the Ukrainians “were coordinating an investigation with the Hillary team on Paul Manafort with Alexandra Chalupa” and that “the embassy worked very closely with” Chalupa. The Blaze highlighted an email from WikiLeaks from Chalupa to Louise Miranda at the DNC:


“Hey, a lot coming down the pipe. I spoke to a delegation of 68 investigative journalists from Ukraine last night at the Library of Congress, the Open World Society forum. They put me on the program to speak specifically about Paul Manafort. I invited Michael Isikoff, who I’ve been working with for the past few weeks, and connected him to the Ukrainians. More offline tomorrow, since there was a big Trump component you and Lauren need to be aware of that will hit in the next few weeks. Something I’m working on that you should be aware of.” The Blaze then reported that Sytnyk, who eventually “was tried and convicted in Ukraine for interfering in the U.S. presidential election in 2016,” released a “black ledger” on Manafort during the 2016 presidential election that eventually led to Manafort’s downfall.

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Republicans drowning in donations.

Bob Woodward: GOP Senators ‘Choking’ On Trump-Ukraine Scandal (WE)

Veteran journalist Bob Woodward said Republican senators are “choking” on President Trump’s Ukraine scandal. At his second appearance in Spokane, Washington, in as many days, the famed Watergate sleuth discussed the precarious situation GOP lawmakers find themselves in as Trump faces controversy for encouraging foreign countries to investigate Joe Biden, a political rival, and his son Hunter. “I know Republican senators, and they are choking on this,” Woodward said on Friday, according to the Spokesman-Review. “Whether they say that’s too much, I don’t know.” Some Republicans in the upper chamber have begun to break ranks after Trump openly encouraged Ukraine and China to investigate the Bidens on Thursday.

Among those who have vented publicly are Maine Sen. Susan Collins, Nebraska Sen. Ben Sasse, and Utah Sen. Mitt Romney, as well as Texas Rep. Will Hurd in the House. Trump, who claims his overtures were about corruption and not crippling a political opponent in the 2020 election, repeatedly castigated Romney on Saturday, even calling for his impeachment. In a discussion with college students on Thursday, Woodward said the situation for Trump is getting “more serious each day” and predicted that impeachment in the House “is almost certainly going to happen to Trump.” He added, “But then there’s a trial in the Senate.”


On Friday, Woodward acknowledged that Trump encouraging foreign countries to investigate the Biden family is “probably not criminal,” but he nonetheless referred to the controversy as being wide in scope. Speaking of the House impeachment inquiry, Woodward said, “They’re looking through a keyhole, and it’s a panorama.” Woodward also noted how some Republicans in the Senate are seeing an advantage from the Democrats’ impeachment venture. He mentioned that Sen. Lindsey Graham, a former Trump critic who has become one of his most vociferous defenders, is seeing an influx of donations. Woodward said the South Carolina Republican told him he “couldn’t count the money fast enough.”

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Erdogan blames the US for not establishing the safe zone.

In Last Minute Call, Erdogan Agrees To Meet Trump Over Syria ‘Safe Zone’ (ZH)

Turkish President Tayyip Erdogan again threatened this weekend to initiate a military incursion into northeast Syria, where US-backed Syrian Democratic Forces (SDF) are based (and bolstered locally by small American bases), saying an offensive “both on land and air” would come “as soon as today or tomorrow.” Like many threats of an “imminent” invasion, it appears this proverbial can will be kicked further down the road, as presidents Trump and Erdogan held a “last minute” phone call on Sunday, where it appears the two leaders came to some level of an understanding. They discussed Turkey’s proposed “safe zone” east of the Euphrates in Syria — which Erdogan has long urged a resistant Washington to cooperate militarily on — and though exact details of the exchange weren’t published, they agreed to meet in Washington next month upon Trump’s invitation.

“Erdogan expressed Turkey’s unease with U.S. military and security bureaucracies not doing what is required by the agreement between the two countries, the presidency said, adding that the two men agreed to meet,” Reuters reported of the call. As we reported previously, Turkey’s military is reportedly on high alert, ready to carry out the Turkish president’s orders on short notice, after a longtime military build-up along the border. “We will carry out this operation both on land and air as soon as today or tomorrow,” Erdogan said on Saturday. “We gave all warnings to our interlocutors regarding the east of Euphrates and we have acted with sufficient patience,” the Turkish president added.


He further slammed the prospect of cooperating with the US on a US-Turkey administered safe zone “a fairytale” given Washington’s recalcitrance regarding Syria’s Kurds, the ethnic group’s militias of which Turkey considers “terrorists”. The Kurdish dominated and US-backed Syrian Democratic Forces (SDF) has vowed it will treat any invading Turkish soldiers as an act of war. In a statement the SDF said it would “not hesitate to turn any unprovoked (Turkish) attack into an all-out war” to defend its region in northeast Syria, according to Reuters.

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Given what Dominic Cummings thinks of Farage, hard to see him taking up a job with much publicity.

Arise, Commissioner Farage! (Pol.eu)

London may not be planning to nominate a commissioner to Brussels but if it does, some say there’s only one option: Nigel Farage. Conservative MP Steve Baker told the Telegraph’s Chopper Brexit Podcast that the Brexit Party member of the European Parliament would be the obvious choice to be the U.K.’s European commissioner, if Brexit is delayed and the country is able to nominate one. “I think we should appoint somebody with about twenty years experience … we should appoint somebody who’s incredibly well-known throughout the institutions, somebody who can be absolutely relied upon at all times to support our exit from the European Union,” he said.


“And therefore I unashamedly back Nigel Farage to be our next European commissioner in the event, in the unfortunate event, should it transpire, though I think it unlikely, that we have to remain in.” Baker, who leads the pro-Brexit European Research Group of MPs in the U.K. parliament, said the idea would be “inspired by the film Armageddon,” referring to a 1998 science fiction movie. There is a scene where “they’re trying to save the world, and so what they do is they land on the asteroid, and they put a nuclear weapon in the heart of the asteroid, and Nigel Farage is that nuclear weapon,” Baker said. “I’ve reason to think he might say that he would accept such an offer,” Baker added, while noting that “my sympathy for Nigel Farage, which has not always been at very high levels, has dramatically increased the more that I am demonized.”

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A traumatized people. Too easily forgotten.

Brexit Border Talk Stirs Up Bad Memories In Northern Ireland (G.)

Remnants of Hurricane Lorenzo unleashed wind and rain from the Atlantic across the area, a rural pocket of County Fermanagh that marks Northern Ireland’s border with the Republic. “Stay back, stay high, stay dry,” advised the authorities, and residents duly hunkered down. Lorenzo passed without major damage. [..] Around Gortmullan, businesses and ordinary people were left wondering if – and where – to seek cover, a dilemma dating from the 2016 referendum result that now thrummed with urgency. “We’re setting up new companies on both sides of the border,” said Liam McCaffrey, CEO of Quinn Industrial Holdings, which supplies building materials.

Customs checks would be bad enough, but Johnson’s apparent plan to give the Stormont assembly a veto over trading arrangements verged on surreal, said McCaffrey. Power sharing in Northern Ireland collapsed in January 2017 and shows little sign of reviving. “The future of how we trade is to be decided every four years by an assembly that hasn’t sat in three years? Bizarre.” Such was the challenge of Storm Boris. Perhaps it was hot air, a plan destined for oblivion to be superseded by who knows what. Or perhaps it was a blast of what is to come in a no-deal crash-out, or a deal negotiated in the next few weeks or after a general election. The uncertainty was head spinning.


[..] The 310-mile border, drawn in 1922 during the partition of Ireland, bristled with military patrols and fortifications during the Troubles. The 1998 Good Friday agreement and the EU’s single market rendered it invisible, helping to seal the peace. [..] A complex web connects the economies on both sides of the border. Trade in goods is worth about £5.2bn. About a third of Northern Ireland’s goods and services exports are sold to the Republic, while about a quarter of its imports come from the south. Downing Street says electronic paperwork and a “very small number” of physical inspections at traders’ premises would limit disruption. Farmers and business leaders dispute that. Some warn of disaster. Diageo, which makes Guinness and Baileys, estimates a hard border could cost it £1.3m, based on an estimate of an hour’s delay for each of the 18,000 beer trucks that traverse the border each year. Smaller businesses with tight margins could face ruin.

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How could this ever happen? “The parties anticipate that this agreement will not be made part of any public record. If the United States receives a Freedom of Information Act request or any compulsory process commanding the disclosure of the agreement, it will provide notice to Epstein before making that disclosure.”

An Actual Conspiracy Kept Jeffrey Epstein’s Accomplices out of Prison (MJ)

But not limited to: It was just a four-word phrase, a bit of plain contractual verbiage, but even now, more than a decade later, Spencer Kuvin has a hard time expressing just how bizarre it was. “It’s incredibly odd language,” said Kuvin, an attorney in Florida. “I’ve never seen it before in a non-prosecution agreement.” Kuvin and I were talking about the infamous and inexplicable 2007 plea deal offered by then–US Attorney Alexander Acosta, last seen slinking out of the Labor Department’s back door. Kuvin had represented three of Epstein’s victims at the time of the agreement, and Kuvin is still exercised about the deal, in particular its brief immunity clause that continues to protect Epstein’s co-conspirators.

According to a ruling by US District Judge Kenneth Marra in February 2019, “from between about 1999 and 2007, Jeffrey Epstein sexually abused more than 30 minor girls…at his mansion in Palm Beach, Florida, and elsewhere in the United States and overseas.” The ruling goes on to describe a child sex ring: “In addition to his own sexual abuse of the victims, Epstein directed other persons to abuse the girls sexually. Epstein used paid employees to find and bring minor girls to him. Epstein worked in concert with others to obtain minors not only for his own sexual gratification, but also for the sexual gratification of others.”

But back in 2007, Epstein was charged only with procuring an underage girl for prostitution, having struck an unbelievable sweetheart deal with Acosta. Epstein served 13 months in a Palm Beach County jail, of which six days a week were spent on work release in his high-rise office, a limo chauffeuring him to and from jail. He was also required to register as a sex offender. The deal on its face is incredibly favorable to Epstein. If you look closer, things get even better for him:


“The United States also agrees that it will not institute any criminal charges against any potential co-conspirators of Epstein, including but not limited to Sarah Kellen, Adriana Ross, Lesley Groff, or Nadia Marcinkova.” The four women named had allegedly helped recruit underage girls for Epstein at his direction. But that four-word phrase “but not limited to” gave a free pass to anybody who would have helped Epstein acquire or traffic underage girls for sex. How could the government agree to immunize “any potential co-conspirators” of an alleged serial child rapist? The question is at the center of so many conspiracy theories surrounding Epstein’s life and death.

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Me when I see this, I’m thinking Dante’s Ninth Circle of Hell.

Chinese Farmers Raise Mutant Pigs The Size Of Polar Bears (ZH)

Amid one of the worst food crises in recent memory, Chinese farmers are reportedly trying to breed larger pigs as the African swine fever – less affectionately known as ‘pig ebola’ – has destroyed over 100 million pigs, between one-third and a half of China’s supply of pigs by various estimates, causing pork prices to explode to levels never seen before. As Beijing scrambles to make up for the lost domestic supply with imports, even desperately waiving tariffs on American pork products in what China’s politicians tried to sell to their population (and Washington) as a “gesture of goodwill”, farmers in southern China have raised a pig that’s as heavy as a polar bear.

Once slaughtered, these giant mutant pigs can fetch a, well, giant price on the market. Here’s more from Bloomberg: “The 500 kilogram, or 1,102 pound, animal is part of a herd that’s being bred to become giant swine. At slaughter, some of the pigs can sell for more than 10,000 yuan ($1,399), over three times higher than the average monthly disposable income in Nanning, the capital of Guangxi province where Pang Cong, the farm’s owner, lives.” Soaring pork prices have encouraged small and large farms to experiment with DIY genetic experimentation, in the name of raising pigs that are about 40% heavier than the ‘normal’ weight of 125 kilos.

“High pork prices in the northeastern province of Jilin is prompting farmers to raise pigs to reach an average weight of 175 kilograms to 200 kilograms, higher than the normal weight of 125 kilograms. They want to raise them “as big as possible,” said Zhao Hailin, a hog farmer in the region.”

Read more …

The entire case is falling to bits.

Lula’s Prosecutors Request His Release From Prison. He Refuses. (Greenwald)

The same Brazilian prosecutors who for years exhibited a single-minded fixation on jailing former President Luiz Inácio Lula da Silva are now seeking his release from prison, requesting that a court allow him to serve the remainder of his 11-year sentence for corruption at home. But Lula — who believes the request is motivated by fear that prosecutorial and judicial improprieties in his case, which were revealed by The Intercept, will lead to the nullification of his conviction — is opposing these efforts, insisting that he will not leave prison until he receives full exoneration. In seeking his release, Lula’s prosecutors are almost certainly not motivated by humanitarian concerns. Quite the contrary: Those prosecutors have often displayed a near-pathological hatred for the two-term former president.

Last month, The Intercept, jointly with its reporting partner UOL, published previously secret Telegram messages in which the Operation Car Wash prosecutors responsible for prosecuting Lula cruelly mocked the tragic death of his 7-year-old grandson from meningitis earlier this year, as well as the 2017 death of his wife of 43 years from a stroke at the age of 66. One of the prosecutors who participated publicly apologized, but none of the others have. Far more likely is that the prosecutors are motivated by desperation to salvage their legacy after a series of defeats suffered by their once-untouchable, widely revered Car Wash investigation, ever since The Intercept, on June 9, began publishing reports based on a massive archive of secret chats between the prosecutors and Sergio Moro, the judge who oversaw most of the convictions, including Lula’s, and who now serves as President Jair Bolsonaro’s Minister of Justice and Public Security.


The prosecutors’ cynical gambit, it appears, is that the country’s Supreme Court — which two weeks ago nullified one of Moro’s anti-corruption convictions for the first time on the ground that he violated core rights of defendants — will feel less pressure to nullify Moro’s guilty verdict in Lula’s case if the ex-president is comfortably at home in São Paulo (albeit under house arrest) rather than lingering in a Curitiba prison. But this strategy ran into a massive roadblock when Lula demanded that he not be released from prison unless and until he is fully exonerated.

Read more …

 

 

 

 

Oct 062019
 
 October 6, 2019  Posted by at 10:14 am Finance Tagged with: , , , , , , , , , , ,  15 Responses »


Paul Gauguin Cow on the seashore 1886

 

Powell: Fed’s Job To Keep Economy In A ‘Good Place As Long As Possible’ (CNBC)
Auto Imports From Mexico Surge As US Sales Decline (WS)
The Ukraine Affair Is Damning, All Right – Just Not In The Way You Think (RT)
Trump Told Theresa May He Doubted Russia Was Behind Skripal Poisoning (G.)
US Media Now Filled With Former Intelligence Agents (Rania Khalek)
Hong Kong Democrats To Challenge Mask Ban In Court (HKFP)
Hong Kong Mask Ban Spurs New Mass Protest On Sunday (BBC)
Epstein Victim Says Leslie Wexner “Responsible For What Happened To Me” (Hill)
24 State Attorneys General Launch Legal Challenge Against Purdue Pharma (Hill)

 

 

This is so incredibly stupid and nobody calls him out over it.

Powell: Fed’s Job To Keep Economy In A ‘Good Place As Long As Possible’ (CNBC)

Federal Reserve Chairman Jerome Powell described the U.S. economy on Friday as being solid, noting the central bank must do what it can to keep it there. “While not everyone fully shares economic opportunities and the economy faces some risks, overall it is— as I like to say— in a good place,” Powell said in prepared remarks delivered at a “Fed Listens” event in Washington. The event is part of a monetary policy communication review by the Fed. “Our job is to keep it there as long as possible.” Powell’s comments came after a raft of disappointing data releases this week. On Tuesday, the Institute for Supply Management said U.S. manufacturing contracted to its weakest level in a decade.


The ISM also said Thursday that the U.S. services sector grew at its slowest pace since August 2016. The Labor Department, meanwhile, reported weaker-than-expected jobs growth for September. This batch of weaker-than-forecast economic numbers led traders to ratchet up their bets on easier monetary policy from the Fed. Market expectations for a rate cut later this month are around 80%, according to the CME Group’s FedWatch tool. “While we believe our strategy and tools have been and remain effective, the U.S. economy, like other advanced economies around the world, is facing some longer-term challenges—from low growth, low inflation, and low interest rates,” Powell said, adding the Fed is “examining strategies” that will help it achieve its inflation goal of 2%.

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Something ain’t happening.

Auto Imports From Mexico Surge As US Sales Decline (WS)

Automakers continue to shift their production base from the U.S. to Mexico, where labor costs pale in comparison with those in the U.S., despite growing opposition from U.S. auto workers and their unions. U.S. imports of new vehicles from Mexico surged by 8% in the first three quarters of 2019, according to the auto manufacturers association AIMA, released by Mexico’s National Institute of Statistics and Geography (INEGI). This surge has occurred even as total deliveries of vehicles to end-users in the US fell by 1.6%. Between January and September 2019, 2.03 million new vehicles were dispatched from assembly plants in Mexico to the U.S. market, 158,000 more than during the first three quarters of 2018.


In the last eight years, auto imports from Mexico have almost doubled, from 1.3 million in 2011 to 2.57 million last year, at annual growth rates of between 6.3% and 13.9%. Barring any major supply chain hiccups, the U.S. is on track to import over 2.7 million new vehicles from Mexico this year. The latest figures cement Mexico’s position as number one exporter of automobiles to the US, ahead of Canada in second place. According to AIMA, 16% of the 12.7 million cars and other light vehicles delivered in the U.S. in the first three quarters of 2019 were assembled in Mexico.

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Nebojsa Malic, senior writer at RT: “It’s curious how the same treatment was not given a few months ago to the anti-Trump text messages of FBI employees Peter Strzok and Lisa Page..”

The Ukraine Affair Is Damning, All Right – Just Not In The Way You Think (RT)

Democrats say texts and transcripts involving US officials dealing with Ukraine prove President Donald Trump should be impeached. What they actually confirm, however, is the extent to which the US treats Ukraine as a vassal. At the heart of the latest media firestorm are the text messages between US diplomats and Trump’s personal attorney Rudy Giuliani. House Democrats seeking to impeach Trump have already sent a subpoena to the White House seeking more documents, and their allies in the media have proclaimed the texts to be “damning.” Much of the brouhaha centers on messages from Bill Taylor, charge d’affaires at the US Embassy in Kiev, who is the only one to suggest the military aid to Ukraine and President Volodymyr Zelensky’s meeting with Trump are being “conditioned” on investigations of Hunter Biden and Ukraine’s role in 2016 meddling in the US election.

In one of the exchanges with US ambassador to the EU, Gordon Sondland, dated September 9, Taylor spells out what would become the Democrats’ argument for impeachment: “As I said on the phone, I think it’s crazy to withhold security assistance for help with a political campaign.” Sondland’s admonishment of Taylor – “I believe you are incorrect about President Trump’s intentions. The President has been crystal clear: no quid pro quo’s of any kind.” – is somehow being held up as an admission of wrongdoing, along with his request for a phone call instead of continued texts. Just like that, all of a sudden, the controversy about the so-called “whistleblower” who may have colluded with House Intelligence Committee chair Adam Schiff (D-California) before filing his complaint – based on hearsay – is declared “irrelevant” and the texts are held up as the Holy Grail of impeachment proceedings.

It’s curious how the same treatment was not given a few months ago to the anti-Trump text messages of FBI employees Peter Strzok and Lisa Page, when the entire media establishment twisted itself into pretzels to explain that when Strzok said “we’ll stop” Trump from becoming president what he really meant, you see, was something totally innocuous and not sinister at all. House Republicans have blasted the diplomatic texts as “cherry-picked” by the other party, and argued that the closed-doors testimony of Kurt Volker, former US special envoy to Ukraine who participated in the exchanges, painted a completely different picture. Reading the transcript of Volker’s opening statement, obtained and published Friday by investigative reporter John Solomon and the Federalist, seems to back that claim.

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Sacrilege. BTW, where is Skripal? Hiding out with Wexner and Maxwell?

Trump Told Theresa May He Doubted Russia Was Behind Skripal Poisoning (G.)

Donald Trump disputed that Russia was behind the attempted murder of a former Russian spy in a tense call with Theresa May, it has emerged. Despite the widespread conclusion that Vladimir Putin’s regime was behind the poisoning of Sergei Skripal and his daughter Yulia last year, the US president is said to have spent 10 minutes expressing his doubts about Russian involvement. According to the Washington Post, Trump “harangued” May about Britain’s contribution to Nato in a phone call with Britain’s then prime minister in the summer of last year, before disputing Russian involvement in the Skripal case.


“Trump totally bought into the idea there was credible doubt about the poisoning,” said a figure briefed on the call. “A solid 10 minutes of the conversation is spent with May saying it’s highly likely and him saying he’s not sure.” The Skripals were left fighting for their lives after the novichok attack in Salisbury, while a policeman was also left seriously ill. A second policeman was recently discovered to have been injured in the attack. Two Russian agents, Alexander Petrov and Ruslan Boshirov, were identified as the likely culprits. However, they later appeared on Russia’s state-funded TV station RT, claiming they visited the “wonderful” English city as tourists to see its cathedral.

Read more …

Any day now, CNN can start a spook soccer team.

US Media Now Filled With Former Intelligence Agents (Rania Khalek)

After years in the shadows overseeing espionage, kill programs, warrantless wiretapping, entrapment, psyops and other covert operations, national security establishment retirees are are turning to a new line of work where they can carry out their imperial duties. That is, propagandizing the public on cable news. Reborn as cable news pundits, these people are cashing in. So many years working in the dark, only to emerge in the studio lights of the same networks that rail all day everyday against state TV from countries that America hates. I’m talking about people like… Below is but a partial list of prominent former spooks turned mainstream media pundits and analysts, to say nothing of the even greater numbers of retired generals the network continuously rely on.

• Former CIA Director John Brennan who is now an NBC News senior national security and intelligence analyst.
• Fran Townsend, former homeland security advisor to George W. Bush. She’s now a CBS News senior national security analyst.

But CNN takes the cake — it’s the biggest spook show of all.
• Jim Clapper, former Director of National Intelligence, now a CNN national security analyst.
• Retired General Michael Hayden, former director of the CIA and the NSA, now a CNN national security analyst.
• Asha Rangappa, former FBI special agent, now CNN legal analyst.
• James Gagliano, a retired FBI supervisory special agent, now a CNN law enforcement analyst.
• Tony Bliken, former deputy secretary of state and former deputy national security advisor, and now CNN global affairs analyst.
• Mike Rogers, former chair of the House Intelligence Committee, now CNN national security commentator.
• Samantha Vinograd senior advisor to the national security advisor under President Obama, now CNN national security analyst.
• Steven Hall, retired CIA chief of Russia operations, now a CNN national security analyst.
• Philip Mudd, former CIA counter-terrorism official, now CNN counter-terrorism analyst.

…Welcome to the spook show!

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Kyle Bass on Twitter: “Bank runs all over Hong Kong now. ATM machines running out of cash but there is something more important…failed leader carrie lam(b) can now officially confiscate bank accounts and assets without recourse. The HK legal system is essentially gone.”

Challenge was already thrown out by the High Court in the meantime.

Hong Kong Democrats To Challenge Mask Ban In Court (HKFP)

Hong Kong’s pro-democracy lawmakers will challenge the newly imposed mask ban in court, arguing that Chief Executive Carrie Lam broke the law when she bypassed the legislature. Filed jointly by all 24 democrats, the lawsuit targeted the Emergency Regulations Ordinance (ERO) – the colonial-era law that grants the city’s leader and her council of advisors wide-ranging powers to “make regulations on occasions of emergency or public danger.” Democrats called for the mask ban to be suspended, before a proper judicial review hearing can be held. The court will hear their first round of arguments at Sunday 10am.


The lawmakers said that Lam “circumvented” the constitutional framework of One Country, Two Systems when she invoked the ERO to ban facial coverings at legal and unauthorised protests from Saturday. “Since the Handover, there has never been an occasion when the chief executive enacted legislation without going through LegCo,” said Civic Party lawmaker Dennis Kwok. On Friday, the High Court dismissed a bid by activists Lester Shum and “Long Hair” Leung Kwok-hung to suspend the law, saying that their case was not strong enough to outweigh the government’s rationale. Kwok said that the democrats’ lawsuit was different, as they had special standing as lawmakers to make constitutional arguments.

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Lam: “We cannot allow rioters any more to destroy our treasured Hong Kong.”

That is HER treasured HK, not THEIRS?

Hong Kong Mask Ban Spurs New Mass Protest On Sunday (BBC)

Thousands of anti-government protesters have turned out for marches in Hong Kong despite pouring rain, spurred into action by a government ban on masks. Many defiantly covered their faces as they set off from several points in a co-ordinated response to the ban, which the High Court upheld on Sunday. Metro services, which were attacked by rioters on Friday, have resumed in some parts of the Chinese city. The masks have become the latest focus in months of pro-democracy protests. Police use of live bullets against protesters this week, leaving two people injured, has also fuelled the unrest. Chief executive Carrie Lam introduced the ban by invoking powers dating back to colonial rule by the British.

Demonstrators fear that democratic rights are being eroded in the semi-autonomous territory under Chinese rule. Many more people have turned out than on Saturday, when a small march was held in the aftermath of Friday’s rioting. Two groups set off at the same time from the Causeway Bay and Tsim Sha Tsui districts, the South China Morning Post reports. Shops could be seen closing early while luxury and chain stores were closed in Causeway Bay. On Friday, both businesses and railway stations were attacked by rioters. Hosun Lee, a protester in Causeway Bay, told AFP news agency he feared more emergency laws were on the way. “The anti-face mask law is the first step,” he said.

Ms Lam vowed on Saturday to prevent further violence, saying: “We cannot allow rioters any more to destroy our treasured Hong Kong.” She justified the law against masks as a response to the demonstrators’ “extreme violence” which was, she said, endangering Hong Kong’s public safety. A second legal challenge to the mask ban, which was brought by opposition legislators, was rejected by the High Court. The legislators had argued that the prohibition was unconstitutional because it denied the rights of free expression and free assembly.

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Wexner is walking around free, as is Ghislaine. Not sure about Skripal.

Epstein Victim Says Leslie Wexner “Responsible For What Happened To Me” (Hill)

A woman allegedly attacked by Jeffrey Epstein said she holds Victoria’s Secret billionaire Leslie Wexner “responsible for what happened to me” because she was staying on a property monitored by Wexner and his wife and guarded by his security team, the Washington Post reported. Maria Farmer stayed in a home that was a half-mile away from Wexner’s home in New Albany, Ohio during the summer of 1996 while she was creating two paintings for the film “As Good as it Gets.” Farmer was employed by Jeffrey Epstein at the time, and while she was staying in the house in Ohio, she alleges that Epstein and his associate Ghislaine Maxwell sexually assaulted her.


When she tried to leave the home after the alleged assault, Farmer said a security guard employed by Wexner told her “You aren’t leaving,” and “You’re not going anywhere.” She said another security guard later took her by the arm, and as she fought against him, he grabbed her so hard she bruised. Farmer said she also tried to call local police and the Franklin County Sheriff’s office. But Wexner had contracted with the office, and a person told her “we work for Wexner,” when she tried to report the crime, Farmer told the Washington Post. She also alleged that she was discouraged from leaving the house without the permission of Abigail Wexler, Leslie Wexler’s wife. She was later picked up by her father at the Washington home.

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“..Purdue gave up to $13 billion in company profits to the Sackler family.”

24 State Attorneys General Launch Legal Challenge Against Purdue Pharma (Hill)

US Attorneys General from 24 states and Washington, D.C. launched a lawsuit against Purdue Pharma this week in an attempt to block the OxyContin maker from avoiding thousands of lawsuits after filing for bankruptcy, Reuters reported. The state officials objected to Purdue Pharma’s request that a U.S. bankruptcy judge block the more than 2,600 lawsuits seeking billions in damages, according to court filings, Reuters reported. The lawsuits argue that the company, along with the Sackler family, were a catalyst in the opioid crisis across the country by not disclosing the addictive risks of opioids. “The Sacklers are billionaires, they are not bankrupt,” the Massachusetts attorney general, Maura Healey, told Reuters.


“They should not be allowed to use the filing to shield their assets.” Purdue filed for chapter 11 bankruptcy last month, after reaching a settlement between $10 billion and $12 billion for the thousands of plaintiffs involved in the lawsuits. The committee of attorneys who negotiated the settlement said the filing will not stop the company from finalizing the settlement. But Purdue sought the injunction to stop the lawsuits against the company because the Sackler family did not file for bankruptcy, Reuters reported. The Sacklers have offered to give control of Purdue to the plaintiffs and give at least $3 billion towards the settlement. The case filed this week by the state attorneys general also said Purdue gave up to $13 billion in company profits to the Sackler family.

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Oct 032019
 
 October 3, 2019  Posted by at 10:37 am Finance Tagged with: , , , , , , , , , ,  13 Responses »


Rembrandt van Rijn Self portrait 1642

 

US Hits Scotch Whisky, Italian Cheese, French Wine With 25% Tariffs (R.)
NYT: ‘Whistleblower’ Spoke To ‘Shifty Schiff’ Before Filing Complaint (RT)
Trump Attacks Democrats, Whistleblower Over Impeachment (R.)
Lindsey Graham Urges Foreign Leaders To Assist Barr With Investigation (Pol.)
We’ll “Definitely” Interfere In 2020, Just “Don’t Tell Anybody” – Putin (ZH)
Putin Shames Greta Thunberg And Her Handlers Over Environmental Agenda (ZH)
Dismay In Brussels As Boris Johnson Finally Reveals Brexit Plan (G.)
3 Saudi Brigades Annihilated in Houthi Offensive in Saudi Arabia (Pieraccini)
Ex-Israeli Intel Exec Says Epstein, Ghislaine Worked for Israeli Intel (Webb)
Julian Assange, Britain’s Unconvicted Prisoner (Cross)

 

 

And it still can’t help Boeing. Boeing has other problems.

This is based on a recent WTO ruling on Airbus and Boeing subsidies. The EU can only strike back in 2020.

Also: “..a 10% levy that could hurt U.S. airlines such as Delta that have billions of dollars of Airbus orders waiting to be filled.”

US Hits Scotch Whisky, Italian Cheese, French Wine With 25% Tariffs (R.)

The Trump administration slapped 25% tariffs on French wine, Italian cheese and single-malt Scotch whisky — but spared Italian wine, pasta and olive oil — in retaliation for European Union subsidies on large aircraft. The U.S. Trade Representative’s Office released a list of hundreds of European products that will get new tariffs, including cookies, salami, butter and yogurt – but in many cases applied to only some EU countries, including German camera parts and blankets produced in the United Kingdom. The list includes UK-made sweaters, pullovers, cashmere items and wool clothing, as well as olives from France and Spain, EU-produced pork sausage and other pork products other than ham, and German coffee. The new tariffs are to take effect as early as Oct. 18.


The U.S. Trade Representative’s Office said it would “continually re-evaluate these tariffs based on our discussions with the EU” and expects to enter talks in a bid to resolve the dispute. Still some Italian foods — Parmesan Reggiano, Romano and provolone cheese — were hit with tariffs as were Italian fruits, clams and yogurt. Also getting new tariffs are German and British camera parts, industrial microwave ovens, printed books, sweet biscuits and waffles. The main target of the U.S. tariffs is Airbus aircraft made in the EU, which face a 10% levy that could hurt U.S. airlines such as Delta that have billions of dollars of Airbus orders waiting to be filled. EU products winning reprieves include chocolate, Greek, French and Portuguese olive oil, helicopters, frozen fish, lobster, sparkling wine, stemware and tiles.

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“I’d go a step further – I think he probably helped write” the complaint..”

NYT: ‘Whistleblower’ Spoke To ‘Shifty Schiff’ Before Filing Complaint (RT)

The CIA agent accusing President Donald Trump of a quid pro quo with Ukraine spoke to House intel chief Adam Schiff’s staff before filing his whistleblower complaint, sources say – and Trump believes the collusion goes deeper. The “whistleblower” spoke to a House Intelligence Committee staffer about his concerns, gleaned from secondhand knowledge of a phone call between Trump and Ukrainian President Volodymyr Zelensky, that the president was abusing his power – and that staffer shared the information with Schiff – before the still-anonymous CIA officer filed his complaint, according to the New York Times, which cited Schiff’s spokesman and “current and former American officials” in a report published Wednesday.


The Times’ report “shows that Schiff is a fraud,” the president told reporters during a White House press conference with Finnish President Sauli Niinisto Wednesday afternoon when he was asked about the story, calling the fact that the congressman, whom he dubbed “shifty Schiff,” knew about the complaint before it was even filed “a scandal.” “I’d go a step further – I think he probably helped write” the complaint, Trump said. “He knew long before, and he helped write it too,” he continued more confidently. The president – who elsewhere in his remarks tried out his new “corrupt news” moniker for the mainstream media – nevertheless congratulated the Times on the scoop. “Maybe they’re getting better,” he mused.

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“They should look at him for treason because he is making up the words of the president of the United States – not only the words but the meaning..”

Trump Attacks Democrats, Whistleblower Over Impeachment (R.)

U.S. President Donald Trump kept up his assaults on the Democratic lawmakers leading impeachment proceedings on Wednesday, accusing House Intelligence Committee Chairman Adam Schiff of treason, as well as attacking the unidentified whistleblower who reported concerns about his behavior. The Republican president has lashed out repeatedly at the impeachment inquiry, which was prompted by his phone call with the Ukrainian president that sought an investigation that would be damaging to a Democratic political opponent, former Vice President Joe Biden. Trump repeatedly says he did nothing wrong in his July 25 telephone call in which he asked Ukrainian President Volodymyr Zelenskiy to investigate a domestic political rival Joe Biden, the former U.S. vice president.


He has repeatedly attacked the Democratic chairman of the House of Representatives Intelligence Committee, Adam Schiff, who is leading the impeachment inquiry. “They should look at him for treason because he is making up the words of the president of the United States – not only the words but the meaning,” Trump said. He accused the Democrats’ impeachment efforts of being groundless and politically motivated. “They’ve been trying to impeach me from the day I got elected,” Trump said.

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Both sides are now timing for the 2020 elections.

Lindsey Graham Urges Foreign Leaders To Assist Barr With Investigation (Pol.)

Senate Judiciary Chairman Lindsey Graham on Wednesday asked several foreign leaders to continue to assist Attorney General William Barr with his investigation into the 2016 election. In a letter to the prime ministers of Australia, Italy and Britain, the South Carolina Republican requested their “continued cooperation with Attorney General Barr as the Department of Justice continues to investigate the origins and extent of foreign influence in the 2016 election.” At President Donald Trump’s urging, Barr is examining how the FBI investigation into connections between Russia and the Trump campaign began. Graham stated in the letter that during the 2016 election, the U.S. law enforcement and intelligence communities used a “deeply flawed dossier filled with hearsay and written by a biased, former United Kingdom intelligence officer” — a reference to the so-called Steele dossier — as part of its investigation.


He also added that law enforcement had received “intelligence from an Italian ‘professor’” — referring to Joseph Mifsud, whose interactions with a former Trump campaign adviser, George Papadopoulos, prompted the FBI to open its counterintelligence investigation — and accepted information from an Australian diplomat. That was a reference to a reported tip from an Australian official, Alexander Downer, to the FBI about possible collusion between Russia and Trump’s 2016 campaign. [..] “That the Attorney General is holding meetings with your countries to aid in the Justice Department’s investigation of what happened is well within the bounds of his normal activities,” Graham wrote. “He is simply doing his job.”

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Exposing the sheer stupidity that controls America.

We’ll “Definitely” Interfere In 2020, Just “Don’t Tell Anybody” – Putin (ZH)

Absolutely no laughing matter for the likes of Rachel Maddow and others who have now spent years locked deep in their ‘Russiagate’ navel-gazing, but at least Putin still hasn’t lost his sense of humor about it. While speaking on a panel of industry and political leaders at the Russian Energy Week conference, Putin mocked reports already alleging Moscow plans to interfere in the 2020 US presidential election. When pressed by NBC News correspondent Keir Simmons over whether former Special Counsel Robert Mueller was accurate in predicting Russia would “attempt to interfere” in the 2020 election, Putin leaned forward in a gesture to act like he was whispering a ‘secret’: “I’m going to tell you a secret,” Putin said, leaning forward. “Yes, we will definitely intervene, don’t tell anybody” he continued to an applauding crowd.

“You know, we have enough of our own problems,” Putin continued. “We are engaged in resolving internal problems and are primarily focused on this.” His characteristic public sarcasm was a hit with the crowd, at an event which included OPEC Secretary General Mohammed Barkindo and others. He followed on a more serious note by calling it “ridiculous” that Russia would interfere in the 2020 election. He also talked down his relationship and interactions with President Trump, describing that the two leaders have never been close. “In my opinion, we have good, businesslike relations, and a relatively stable level of trust,” he said during the conference’s plenary session. “We’ve never been close, and aren’t now.” However, Putin did come to the US president’s defense when asked about the Ukraine call transcript.

“From what we know, I don’t see anything compromising at all,” Putin told the audience. “I didn’t see that during this phone call Trump demanded compromising material from Zelenskiy at any cost and threatened him that he wouldn’t help Ukraine.” The Kremlin last week said its consent must be required before any calls between the US and Russian leader are published. Putin said there’s no compromising material at all in those transcripts, and added he that “any conversation can be published — I always proceed from that.” Putin also addressed last year’s controversy over his closed door summit with President Trump, saying he requested that Washington publish details of the talks. “We don’t mind,” Putin said confidently. “I assure you that there’s nothing there that would compromise President Trump.”

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I wouldn’t have said he shames her. He simply understands that Greta IS her PR handlers. She should go home and be a child, not get dragged around the planet by spin doctors.

Putin Shames Greta Thunberg And Her Handlers Over Environmental Agenda (ZH)

Russian President Vladimir Putin on Wednesday chided Swedish environmentalist Greta Thunberg and her adult handlers, after the 16-year-old gave an emotional speech at the UN late last month. “Sure, Greta is kind, but emotions should not control this issue,” said Putin. “Go and explain to developing countries why they should continue living in poverty and not be like Sweden,” he added, before saying that it was deplorable how some groups are using Thunberg to achieve their own goals. In her speech last week, Thunberg lashed out at the United Nations – saying “You have stolen my dreams and my childhood with your empty words.” Thunberg also filed a legal complaint accusing five countries of inaction on global warming – drawing the ire of French President Emmanuel Macron, and many others who noted that she’s left China out of her diatribes and lawsuit, despite being the world’s worst polluter by total volume.

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There are actually Labour MPs who support Johnson’s nothingness.

Dismay In Brussels As Boris Johnson Finally Reveals Brexit Plan (G.)

Boris Johnson appears to be fighting a losing battle to avoid Britain staying in the European Union beyond 31 October after Michel Barnier privately gave a scathing analysis of the prime minister’s new plan for the Irish border, describing it as a trap. The European commission also refused to go into the secretive and intensive “tunnel” talks with the UK’s negotiators before a crunch summit on 17 October from which the UK had hoped to deliver a breakthrough deal. Despite concerted attempts to avoid publicly trashing the UK proposals, there was dismay behind the scenes in Brussels after Johnson tabled his first concrete proposal for replacing the Irish backstop.

The prime minister had set out the outline of the government’s offer in a speech to Tory party faithful in Manchester that also laid down the battle lines for a general election. On Wednesday night, he was hopeful a parliamentary majority could be assembled to back it. Johnson’s plan involves Northern Ireland leaving the EU’s customs union at the end of transition along with the rest of the UK, necessitating checks and controls on the island of Ireland. Northern Ireland would also stay aligned with EU standards on goods if Stormont agreed by December 2020, the end of the transition period, and then in a vote every four years.

But the UK has also requested that both sides commit at treaty level “never to conduct checks at the border” even if Stormont vetoes the arrangements laid out in the new 44-page Irish protocol. Barnier said that this commitment would prevent Brussels from protecting its internal market if the Northern Ireland assembly blocked the arrangement in 2020 or at a later date. “The EU would then be trapped with no backstop to preserve the single market after Brexit,” he warned, according to someone present in the room.

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Federico Pieraccini on an attack that proves it wasn’t Iran, ever. Where’s the coverage of this in the western press? Too inconvenient?

“Let us salute the resourceful Houthis, today’s unconquerable underdogs, for giving the world’s most repugnant bullies a bloody nose, and a huge blow to their bloated egos.”

3 Saudi Brigades Annihilated in Houthi Offensive in Saudi Arabia (Pieraccini)

Many may have hitherto been led to believe that the Houthis were a ragtag armed force lacking in sophistication. Many, seeing the drone and missile attacks on Saudi oil plants, may have declared it to be a false-flag attack carried out by Riyadh to boost Aramco’s market value; either that or it was an operation carried out by Iran or even Israel. On Saturday September 28, the Houthis put paid to such speculation by confirming what many, like myself, have been writing for months; that is, that the asymmetrical tactics of the Houthis, combined with the conventional capabilities of the Yemeni army, are capable of bringing the Saudi kingdom of Mohammed Bin Salman to its knees.

The Yemeni army’s missile forces are able to carry out highly complex attacks, no doubt as a result of reconnaissance provided by the local Shia population within the Kingdom that is against the House of Saud’s dictatorship. These Houthi sympathisers within Saudi Arabia helped in target identification, carried out reconnaissance within the plants, found the most vulnerable and impactful points, and passed this intelligence on to the Houthis and Yemeni army. These Yemeni forces employed locally produced means to severely degrade Saudi Arabia’s crude-oil-extraction and processing plants. The deadly strikes halved oil production and threatened to continue with other targets if the Saudi-conducted genocide in Yemen did not stop.

On Saturday 29 the Houthis and the Yemeni army conducted an incredible conventional attack lasting three days that began from within Yemen’s borders. The operation would have involved months of intelligence gathering and operational planning. It was a far more complex attack than that conducted against Aramco’s oil facilities. Initial reports indicate that the forces of the Saudi-led coalition were lured into vulnerable positions and then, through a pincer movement conducted quickly within Saudi territory, the Houthis surrounded the town of Najran and its outskirts and got the better of three Saudi brigades numbering in the thousands and including dozens of senior officers as well as numerous combat vehicles. This event is a game changer, leaving the US, Mike Pompeo and the Israelis and Saudis unable to lay the blame on Iran as all this took place a long way from Iran.

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Whitney Webb strikes again.

Ex-Israeli Intel Exec Says Epstein, Ghislaine Worked for Israeli Intel (Webb)

In an interview with Zev Shalev, former CBS News executive producer and award-winning investigative journalist for Narativ, the former senior executive for Israel’s Directorate of Military Intelligence, Ari Ben-Menashe, claimed not only to have met Jeffrey Epstein and his alleged madam, Ghislaine Maxwell, back in the 1980s, but that both Epstein and Maxwell were already working with Israeli intelligence during that time period. In an interview last week with the independent outlet Narativ, Ben-Menashe, who himself was involved in Iran-Contra arms deals, told his interviewer Zev Shalev that he had been introduced to Jeffrey Epstein by Robert Maxwell in the mid-1980s while Maxwell’s and Ben-Menashe’s involvement with Iran-Contra was ongoing. Ben-Menashe did not specify the year he met Epstein.

Ben-Menashe told Shalev that “he [Maxwell] wanted us to accept him [Epstein] as part of our group …. I’m not denying that we were at the time a group that it was Nick Davies [Foreign Editor of the Maxwell-Owned Daily Mirror], it was Maxwell, it was myself and our team from Israel, we were doing what we were doing.” Past reporting by Seymour Hersh and others revealed that Maxwell, Davies and Ben-Menashe were involved in the transfer and sale of military equipment and weapons from Israel to Iran on behalf of Israeli intelligence during this time period. He then added that Maxwell had stated during the introduction that “your Israeli bosses have already approved” of Epstein. Shalev later noted that Maxwell “had an extensive network in Israel at the time, which included the then-Prime Minister Ariel Sharon, according to Ben-Menashe.”

Ben-Menashe went on to say that he had “met him [Epstein] a few times in Maxwell’s office, that was it.” He also said he was not aware of Epstein being involved in arms deals for anyone else he knew at the time, but that Maxwell wanted to involve Epstein in the arms transfer in which he, Davies and Ben-Menashe were engaged on Israel’s behalf.

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“These inconsistencies should raise serious doubts as to whether the British justice system is operating objectively and according to domestic and international legal norms.”

We had no such doubts any more.

Julian Assange, Britain’s Unconvicted Prisoner (Cross)

This article is a second piece focusing on Belmarsh prison, where the founder of Wikileaks, Julian Assange, continues to be arbitrarily detained by the British government. The first part showed how Belmarsh prison has been systematically denying Assange access to justice by restricting all the means through which he could prepare his defence; access to and possession of legal documents, talking to his US lawyers, restricted meetings with his UK lawyers, and access to a laptop as a basic means to prepare his defence. These restrictions have been imposed in contradiction to all legislation and standards regarding the rights of the prisoner. This piece looks at the weaponizing of Category A prison security and the use of prison healthcare isolation as part of a program of the state-sponsored abuse of a journalist imprisoned for releasing prima facie evidence of US war crimes committed in Iraq and Afghanistan.

The decision on 13th September by Judge Vanessa Baraitser in a ‘technical hearing‘ at Westminster Magistrate’s Court, means that although Assange has been given parole half way through what experts believe was a disproportionate 50 week sentence for skipping police bail in 2012, he will still be kept in prison while he is fighting extradition to the US – a process which could take many years. Baraitser justified her decision as follows: “In my view I have substantial ground for believing if I release you, you will abscond again” She described his status now as: “…from a serving prisoner to a person facing extradition”

According to the British judiciary, Assange was initially apprehended and sentenced to prison because he had ‘skipped bail’ by seeking refuge for political asylum in London’s Ecuadorian embassy. Despite the fact the original investigation in which he was wanted for questioning (and complied) by Swedish authorities had been dropped, the British courts still treated Assange as a serious criminal and sentenced him as such. The narratives in Baraitser’s statement, the injustices arising from them and the proceedings around this hearing have all been highlighted and roundly condemned. What’s more, despite the change to Assange’s prisoner status, he has so far been kept in Belmarsh. These inconsistencies should raise serious doubts as to whether the British justice system is operating objectively and according to domestic and international legal norms.

Read more …

 

 

 

 

 

Sep 072019
 
 September 7, 2019  Posted by at 9:47 am Finance Tagged with: , , , , , , , , , , , ,  13 Responses »


Pablo Picasso Portrait of Dora Maar 1942

 

The Financialization of the US Economy (WS)
Fed Chair Powell Repeats Vow To Act ‘As Appropriate’ (R.)
Tariffs Are No Longer China’s Biggest Problem In The Trade War (CNBC)
Boris Johnson Urged To Become A ‘Brexit Martyr’ (DM)
A Trump Brexit Threatens (Wight)
A Crackup Is Inevitable (Kunstler)
CIA, Mossad, “the Epstein Network” and an Orwellian Nightmare (Whitney Webb)
How MIT Concealed Its Relationship with Jeffrey Epstein (Farrow)
Boeing’s Chief Technical Pilot On The 737 MAX Project Pleads The Fifth (ST)
For The First Time In My Life, I’m Frightened To Be Jewish (David Graeber)
Edward Snowden’s Guardian Angels (F24)

 

 

But services don’t make stuff.

The Financialization of the US Economy (WS)

Service-producing industries dominate the US economy, accounting for over 70% of GDP. And this sector is hopping. Revenues in the major services categories rose 5.3% in the second quarter of 2019, compared to the same quarter a year earlier, to $4.05 trillion, not seasonally adjusted, according to the Commerce Department’s Quarterly Selected Services Estimates released today. For the first two quarters of 2019, service revenues rose 5.5% to $8.0 trillion. The pace of growth so far this year is slightly lower than the hot 6.0% growth for the year 2018.


Four biggies dominate the service sector, and the US economy overall. They accounted for $2.92 trillion in revenues in Q1, or about 72% of total service revenues, with the biggest of them all, finance and insurance, accounting for 32%, up from 31% at the end of last year. It is also the fastest-growing segment, even faster than healthcare, as the US economy is getting more and more financialized. The share of each of the big four of overall service revenues: • Finance and insurance: 32% • Healthcare: 17% • Professional, scientific, and technical services: 12% • “Information” services, such as telecommunications, software, and data processing: 11%.

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Only one act is appropriate: go home. Did you know Jay Powell is worth some $100 million? Do you think he’s concerned about Americans living paycheck to paycheck?

Fed Chair Powell Repeats Vow To Act ‘As Appropriate’ (R.)

The U.S. Federal Reserve will continue to act “as appropriate” to sustain the economic expansion in the world’s biggest economy, Fed Chair Jerome Powell said Friday in Zurich, sticking to a phrase that financial markets have read as signaling further interest-rate reductions ahead. “Our obligation is to use our tools to support the economy, and that’s what we’ll continue to do,” Powell said at the University of Zurich. Still, he said, “We are clearly at a time where there is a range of views” among Fed policymakers meeting Sept. 17-18 to decide on rates.


Powell’s careful wording reflects a split within the U.S. central bank about how best to respond to an economy where the job market and consumer spending are strong but rising trade tensions between Beijing and Washington, Britain’s possibly messy exit from the European Union, and a broad global slowdown pose risks. Boston Fed President Eric Rosengren for instance has made the case for leaving rates where they are until those risks are more tangible in the economic data. Others including St. Louis Fed President James Bullard have called for a half-a-percentage point interest-rate cut to get ahead of the trade war risks and bring the Fed’s policy rate more in line with market expectations. Meanwhile, financial markets are betting Fed policymakers will agree to split the difference and follow their quarter-point rate cut in July with another one later this month.

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Decoupling.

Tariffs Are No Longer China’s Biggest Problem In The Trade War (CNBC)

It’s not the new round of tariffs that went into effect; we’ve been playing the tit-for-tat tariff war for more than a year. It’s not the economic reports; they’ve been a little too mixed lately to force any dramatic moves. It’s not even the decision by Hong Kong administrator Carrie Lam to fully withdraw the controversial mainland extradition bill; it’s still not clear that the Hong Kong unrest would be affected in any way by a trade deal. Given the timing of the change in tone, it seems more likely that what’s making the difference is a realization on both sides that there’s another way this trade war could end – and that possible ending is one the U.S. is very unlikely to lose.


That alternate ending is summed up in one word: decoupling. The decoupling push is quite different than any U.S. efforts to get China to open up more of its economy to American companies. Instead, it focuses on reducing America’s extremely heavy reliance on China for so much of its manufacturing needs. Even if China’s economy weren’t so closed off to so many American goods and services, a strong argument has long been made that the U.S. needs to diversify its sources for imports. While finding those new sources wouldn’t necessarily do anything to dent America’s trade imbalances, it would reduce the risks of a major disruption to the U.S. economy based on disputes or other problems connected to a single foreign country.

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As I wrote yesterday, he has little to lose by resigning.

Boris Johnson Urged To Become A ‘Brexit Martyr’ (DM)

Boris Johnson wrote to all Tory members last night to indicate that he would rather defy the law than beg Brussels for a delay in bringing Britain out of the EU. The Prime Minister said he was only bound ‘in theory’ by a law which is expected to receive Royal Assent on Monday, taking a No Deal Brexit off the table. In his letter, he reiterated his determination to stand firm against Remainers, saying: ‘They just passed a law that would force me to beg Brussels for an extension to the Brexit deadline. This is something I will never do.’ Earlier on Friday he told reporters he would not entertain seeking another deadline extension from Brussels, as the incoming law compels him to do if no agreement is in place by October 19.

He was urged last night by Tory grandee Iain Duncan Smith to hold his nerve, saying he would be ‘martyred’ if he chose to break the law and risk a possible prison sentence for contempt of Parliament. Mr Duncan Smith told The Telegraph: ‘This is about Parliament versus the people. Boris Johnson is on the side of the people, who voted to leave the EU. ‘The people are sovereign because they elect Parliament. But Parliament wants to stop the will of the people.’ If Mr Johnson fails to carry out the will of Parliament, he risks being taken to court and, if a judge ordered him to obey Parliament, he could be held in contempt and even jailed for refusing.


Mr Johnson’s latest plans for a snap election appeared to have been scuppered yet again last night by a ’stitch-up’ between Jeremy Corbyn and Remain parties. Labour, the Lib Dems and Scots and Welsh nationalists agreed to block the public going to the polls before October 31. It leaves the Prime Minister in limbo, forced to choose between resigning or defying a law passed by MPs ruling out a No Deal Brexit.

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“This desire for godlike powers of total creation is precisely why free market ideologues are so drawn to crises and disasters.”

A Trump Brexit Threatens (Wight)

Trump’s otherworldly vice president, Mike Pence, has just said more in one short sentence to unravel the complexities of the Brexit crisis that continues to bedevil the UK, than the ocean of column inches that have been devoted to the subject since the referendum was held in 2016. Speaking at a black tie event in London on Thursday night, attended by an array of business executives, Pence proclaimed, “The minute the UK is out, America is in.” Pence, a man who stands as living proof that human evolution is not wedded to an ever upwards path, delivered these words with the bombast of a Roman proconsul addressing the notables of a soon-to-be client state.

Thus let there be no doubt that the hard no-deal Brexit advocated by the UK’s newly installed Prime Minister Boris Johnson and his supporters is to all intents a Trump Brexit – one that will see the UK economy opened up to the tender mercies of U.S. corporations on terms set not by London but Washington. In other words, we’re talking disaster capitalism on steroids, bringing with it the likely prospect of the decimation of what’s left of the UK’s welfare state, including that most revered totem to social solidarity, the National Health Service (NHS), which since the end of WWII, when it was established, has provided generations of British citizens with free healthcare at the point of need, funded out of general taxation, regardless of social class or personal wealth.


The NHS is therefore a socialist institution in all but name, which Johnson and his privileged right wing establishment acolytes in the hard Brexit camp would sooner see broken up and sold off to U.S. insurance companies in sacrifice to their god, the market. This is regardless of any and all assurances given to the contrary. In her classic work, Shock Doctrine, Naomi Klein writes: “Believers in the shock doctrine [of disaster capitalism] are convinced that only a great rupture – a flood, a war, a terrorist attack – can generate the kind of vast, clean canvases they crave,” while earlier in the same passage, warning that “This desire for godlike powers of total creation is precisely why free market ideologues are so drawn to crises and disasters.”

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National sovereignty.

A Crackup Is Inevitable (Kunstler)

What’s at stake behind all the pushing-and-shoving is the question of national sovereignty. Does it matter anymore? I suspect it will matter increasingly for everyone in many nations, and at a smaller and smaller scale of political divisions so that, for instance, Great Britain itself will be faced with surrendering its dominion over Scotland and Northern Ireland. This is churning in the zeitgeist now, actually has been for some time since the Soviet Union and Yugoslavia cracked up. Even the United States finds itself increasingly disunited and it’s not inconceivable that before the century ends some regions may go their own way. Texans have been talking it up for years, and California is already acting like she’s started divorce proceedings.

China, meanwhile, is whipping its quasi-vassal Hong Kong like a dog because Xi Jinping is not in a position to bust Donald Trump upside the head and Xi’s got to take it out on somebody. Everything was looking so rosy for China as it burst out of its medieval cocoon into industrial adulthood, and now Mr. Trump is ruining the global arrangements that turned the sclerotic old outfit into a global super-dragon. They’ve had a blast driving down the capitalist road — even if they’re actually ruled by communists — but a storm of bad debt is coming up on them from behind, and if it catches up, the joyride is over and some kind of dreadful crackup happens.


All the abiding normality of the past seventy years is slipping away into flux. Modernity is finally yielding – to what? Nobody knows. And nowhere is this more obvious than in the realm of money and economy. Beyond all the other quarrels of modern times — democracy versus communism, Islam versus the West, the wealthy north versus the poor south — one thing remained pretty steady: the flow of oil into the engines of economy. Turned out, the world didn’t have to run out of oil for that normality to fray badly; the oil just had to become marginally unaffordable, and voila! It’s hard for people to grok, especially here in the USA with oil production so far above the old 1970 prior peak that the proposition seems absurd.

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Whitney’s latest. Obvious must read.

CIA, Mossad, “the Epstein Network” and an Orwellian Nightmare (Whitney Webb)

Prior to the public scrutiny of Barak’s relationship to Jeffrey Epstein, following the latter’s arrest this past July and subsequent death, Barak had come under fire for his ties to disgraced film mogul Harvey Weinstein. Indeed, it was Ehud Barak who put Weinstein in contact with the Israeli private intelligence outfit Black Cube, which employs former Mossad agents and Israeli military intelligence operatives, as Weinstein sought to intimidate the women who had accused him of sexual assault and sexual harassment. Former Mossad director Meir Dagan led Black Cube’s board until his death in 2016 and Carbyne co-founder Lital Leshem is Black Cube’s former director of marketing.

After Barak put him in contact with Black Cube’s leadership, Weinstein, according to The New Yorker, used the private spy firm to “‘target,’ or collect information on, dozens of individuals, and compile psychological profiles that sometimes focused on their personal or sexual histories.” In addition, The New Yorker noted that “Weinstein monitored the progress of the investigations personally” and “also enlisted former employees from his film enterprises to join in the effort, collecting names and placing calls that, according to some sources who received them, felt intimidating.”


Yet, more recently, it has been Barak’s close relationship to Epstein that has raised eyebrows and opened him up to political attacks from his rivals. Epstein and Barak were first introduced by former Israeli Prime Minister Shimon Peres in 2002, a time when Epstein’s pedophile blackmail and sex trafficking operation was in full swing.

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Pecunia non olet.

How MIT Concealed Its Relationship with Jeffrey Epstein (Farrow)

The M.I.T. Media Lab, which has been embroiled in a scandal over accepting donations from the financier and convicted sex offender Jeffrey Epstein, had a deeper fund-raising relationship with Epstein than it has previously acknowledged, and it attempted to conceal the extent of its contacts with him. Dozens of pages of e-mails and other documents obtained by The New Yorker reveal that, although Epstein was listed as “disqualified” in M.I.T.’s official donor database, the Media Lab continued to accept gifts from him, consulted him about the use of the funds, and, by marking his contributions as anonymous, avoided disclosing their full extent, both publicly and within the university.


Perhaps most notably, Epstein appeared to serve as an intermediary between the lab and other wealthy donors, soliciting millions of dollars in donations from individuals and organizations, including the technologist and philanthropist Bill Gates and the investor Leon Black. According to the records obtained by The New Yorker and accounts from current and former faculty and staff of the media lab, Epstein was credited with securing at least $7.5 million in donations for the lab, including two million dollars from Gates and $5.5 million from Black, gifts the e-mails describe as “directed” by Epstein or made at his behest. The effort to conceal the lab’s contact with Epstein was so widely known that some staff in the office of the lab’s director, Joi Ito, referred to Epstein as Voldemort or “he who must not be named.”

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By refusing to send documents.

Boeing’s Chief Technical Pilot On The 737 MAX Project Pleads The Fifth (ST)

A former Boeing official who played a key role in the development of the 737 MAX has refused to provide documents sought by federal prosecutors investigating two fatal crashes of the jetliner, citing his Fifth Amendment right against self-incrimination, according to a person familiar with the matter. Mark Forkner, Boeing’s chief technical pilot on the MAX project, invoked the privilege in response to a grand jury subpoena issued by U.S. Justice Department prosecutors looking into the design and certification of the plane, the person said.

Invoking the Fifth to avoid testifying, while a legal right, is sometimes interpreted as an admission of guilt. Its use to resist a subpoena for documents is less common and may only imply a dance between prosecutors and defense attorneys, legal experts say. Forkner, now a first officer for Southwest Airlines, referred questions to his attorney when reached by phone. His attorney, David Gerger, of Houston, did not respond to inquiries.


Forkner, who worked at Boeing from 2011 to 2018, according to his LinkedIn profile, was frequently anxious about the deadlines and pressures faced in the MAX program, going to some of his peers in the piloting world for help, a person who worked on the project previously told The Seattle Times, speaking on condition of anonymity. The MCAS system, designed to move a powerful control surface at the tail to push the airplane’s nose down in certain rare situations, played a critical role in the crashes when the planes nose-dived out of the sky. During the certification process, Forkner suggested to the Federal Aviation Administration (FAA) that MCAS not be included in the pilot manual, according to previous Seattle Times reporting.

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The anti-Corbyn campaign fallout.

For The First Time In My Life, I’m Frightened To Be Jewish (David Graeber)

I am 58 years old, and for the first time in my life, I am frightened to be Jewish. We live in a time when racism is being normalized, when Nazis parade in the streets in Europe and America; Jew baiters like Hungary’s Orban are treated as respectable players on the international scene, “white nationalist” propagandist Steve Bannon can openly coordinate scare-mongering tactics with Boris Johnson in London at the same time as in Pittsburg, murderers deluded by white nationalist propaganda are literally mowing Jews down with automatic weapons. How is it, then, that our political class has come to a consensus that the greatest threat to Britain’s Jewish community is a lifelong anti-racist accused of not being assiduous enough in disciplining party members who make offensive comments on the internet?


For almost all my Jewish friends, this is what is currently creating the greatest and most immediate sense of trepidation, even more than the actual Nazis: the apparently endless campaign by politicians like Margaret Hodge, Wes Streeting, and Tom Watson to weaponize antisemitism accusations against the current leadership of the Labour party. It is a campaign – which however it started, has been sustained primarily by people who are not themselves Jewish – so cynical and irresponsible that I genuinely believe it to be a form of antisemitism in itself. And it is a clear and present danger to Jewish people. To any of these politicians who may be reading this, I am begging you: if you really do care about Jews, please, stop this.

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Justin better act.

Edward Snowden’s Guardian Angels (F24)

After he revealed the National Security Agency’s illegal mass surveillance programmes in 2013, Edward Snowden received help from some unlikely accomplices. Four refugees and their lawyer allowed the whistleblower to escape and stay under the radar, at a time when he was the world’s most wanted man. For 13 days, they sheltered him in their tiny apartments located in the poorest area of Hong Kong, home to the marginalised community of asylum seekers. The mastermind behind the idea of hiding the American fugitive in plain sight was Robert Tibbo, a Canadian human rights lawyer, well known for defending asylum seekers in the region.

Snowden told FRANCE 24 he believes he owes his life to these unexpected allies, who could have turned him in at any time: “They could have written an email to the CIA and they could have gotten a big cheque or they could have finally gotten asylum in exchange. But they would have had to do it by selling someone into a grave. And for that, I’ll never be able to repay them.”


But since their identity was revealed, especially with the release of the Oliver Stone film “Snowden” in 2016, these refugees are being persecuted by Hong Kong authorities. Arrested on several occasions, they have been questioned about their ties with Snowden. The little welfare they received from the government has been cut. Today, they all live in constant fear in Hong Kong. If deported to their home country of Sri Lanka, they could face imprisonment, torture and even death. All of them have applied for asylum in Canada.

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Sep 032019
 
 September 3, 2019  Posted by at 8:49 am Finance Tagged with: , , , , , , , , ,  11 Responses »


Pablo Picasso Head of a woman 1939

 

Resurrecting the American Economy With Stalinism 2.0 (Dmitry Orlov)
Use Old Chinese Debt To Default On Beijing’s $1 Trillion Treasuries (RT)
Boris Johnson Faces Showdown In Parliament (BBC)
The Realities Of A No-Deal Brexit (Ivan Rogers)
Ahead of Brexit, UK Factories Go Quiet (R.)
Hong Kong Leader Says She Would ‘Quit’ If She Could (R.)
Carrie Lam: Hong Kong Leader ‘Never Tendered Resignation To Beijing’ (BBC)
The Quickening (Kunstler)
Jeffrey Epstein’s Model-Scouting Pal Has ‘Disappeared Without A Trace’ (NYP)
New Delays Could Keep Boeing 737 MAX Grounded Into Holiday Travel Season (MW)
All Of Us Are In Danger: John Pilger Has Chilling Warning From Assange (RT)

 

 

Lovely from Dmitry. Do read the whole thing. What the US must do to save its economy is imitate China.

Resurrecting the American Economy With Stalinism 2.0 (Dmitry Orlov)

Donald Trump has recently ordered US corporations to move production out of China and into the US. Easier said than done!—or, rather, undone. Moving production to China (and, in case of IT, to India) allowed US corporations to benefit from the large wage differential and an easier regulatory environment in order to be more profitable. They spent these excess profits by buying back their own stock, paying generous dividends to their shareholders and using their artificially inflated stock prices to justify exorbitant executive salaries and bonuses.

Along the way, they impoverished American workers by depriving them of gainful deployment, eroded the skill base of the American population and, perhaps most importantly, destroyed demand for their products because more and more Americans could no longer afford them. As these trends played out, making China prosperous and the US increasingly distressed and impoverished, with close to 100 million working-age people permanently jobless, US corporations could no longer profit from their offshored production to the same extent, and so they took advantage of low interest rates to borrow huge sums of money and use it to continue buying back their own shares, paying dividends and continuing with the exorbitant executive compensation.


By now, many of the major US corporations are financial zombies, waiting for an uptick in interest rates to drive them into bankruptcy. And it is these zombies that are being tasked with bringing production back to the US. Good luck with that! Which is to say, it is highly unlikely that such an effort could possibly succeed. But even if it could succeed, would it solve the problem—which is that the US is gradually degenerating into a bankrupt third world country? Perhaps not, because, you see, the entire theory of “making America great again” is based on a fallacy—which is that China became the world’s largest economy (by purchasing power) and the world’s factory simply by virtue of the fact that American corporations offshored production to it.

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The webs we weave…

Use Old Chinese Debt To Default On Beijing’s $1 Trillion Treasuries (RT)

[..] the trade war adversaries are already considering options beyond tariffs. Beijing, which enjoys a trade surplus with the US, has hinted it could use rare earth metals as a leverage. There is also China’s “nuclear” option of dumping US Treasuries. Meanwhile, Washington has been reminded of China’s century-old bonds incurred before the nation adopted communism, which, adjusted for inflation, interest and other fees, amount to around $1 trillion, perfectly covering Beijing’s holdings of US Treasury Bills. “The US will simply default on $1 trillion of UST bonds held by China and claim, based on these old bonds, that they are justified in doing so,” Max Keiser, the host of RT’s Keiser Report, said.


While it’s really doubtful that China would ever pay out, the US’ attempt to claim the money would only trigger serious economic problems and make the already turbulent situation worse, investment guru Jim Rogers told RT. “If America gets a ruling that they [China] must pay then what America would do is freeze Chinese assets in America… take those assets or seize those assets. And then you have a very serious trade war going on,” Rogers said, adding that China would certainly retaliate to such a move. The individual holders of the antique bonds can do little to get any money from China, which has never recognized the debt. Firstly, they would have to have their claim recognized, win the case, and then find some way to force China to cash out, according to Duke University professor Mitu Gulati. However, it would be a completely different story if the Trump administration steps in.

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How does he feel about Bitcoin?

ECB Official Mersch Calls Facebook’s Libra ‘Treacherous’ (MW)

A high-ranking European Central Bank official on Monday outlined problems with the planned cryptocurrency Libra, the latest in a series of warnings from government officials. “I sincerely hope that the people of Europe will not be tempted to leave behind the safety and soundness of established payment solutions and channels in favor of the beguiling but treacherous promises of Facebook’s siren call,” said Yves Mersch, a member of the ECB’s executive board.

In a speech at a Frankfurt legal conference, he wryly noted that Libra was coming from “the very same people who had to explain themselves in front of legislators in the United States and the European Union on the threats to our democracies resulting from their handling of personal data on their social media platform,” a reference to Facebook. One concern Mersch raised is that the Libra coins will be issued by a cartel of players in the fields of payments, technology, e-commerce and telecommunications. Called the Libra Association, it will control the blockchain and collect the seigniorage income. Libra Association members include Mastercard, PayPal, eBay, and Uber.


“With such a setup, it is difficult to discern the foundational promises of decentralization and disintermediation normally associated with cryptocurrencies and other digital currencies. On the contrary, similarly to public money, Libra will actually be highly centralized, with Facebook and its partners acting as quasi-sovereign issuers of currency,” he said. Public money also is centralized, but unlike Libra, has a “sovereign entity and a central issuance authority.” The corporate entities, by contrast, are accountable to their shareholders and will “get privileged access to private data that they can abusively monetize.”

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More than one. Chaos galore.

Boris Johnson Faces Showdown In Parliament (BBC)

Boris Johnson faces a showdown in Parliament later after No 10 officials warned he would call for a snap general election on 14 October if MPs succeed in seizing control of Commons business. Rebel Tories and Labour MPs are planning a bill to stop the UK leaving the EU on 31 October without a deal. Mr Johnson said he did not want an election, but progress with the EU would be “impossible” if the MPs win. Jeremy Corbyn said the Labour Party was ready for a general election. But shadow Northern Ireland secretary Tony Lloyd later said Labour would vote against any government plans to hold a general election before the UK is due to leave the EU on 31 October.


He said Labour “will not have Boris Johnson dictate the terms of an election that crashes this country out with no deal”. Under the Fixed-term Parliaments Act, Mr Johnson would require the backing of two-thirds of the UK’s 650 MPs to trigger a poll in the autumn. A number of MPs have come together across party political lines in a fresh bid to stop a no-deal Brexit, after Mr Johnson vowed to leave the EU with or without a deal on 31 October. When Parliament returns on Tuesday after recess, they are expected to put forward legislation under Standing Order 24 – a rule that allows urgent debates to be heard.

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Rogers was the Permanent Representative of the United Kingdom to the European Union from 4 November 2013 until 3 January 2017.

The Realities Of A No-Deal Brexit (Ivan Rogers)

No developed country has taken itself out of a trade bloc since the war because the costs of deliberately making trade substantially more difficult with your closest neighbours are obviously large. No trade deal has ever been struck between partners actively seeking to get further apart. Trade deals have always been between those aspiring to converge and to increase trade flows, not diverge and decrease them. No amount of repetition of ‘this will all be terribly easy’ ever makes it true. It is not unpatriotic or ‘declinist’ to point out that a process of ‘differential disentanglement’ – which is actually what Brexit is – will be hard, complex and lengthy. How, seriously, after more than three years can so much of our political elite still be in denial on this?

If you leave a club whose other members are prepared to integrate more deeply politically and juridically than you, because they see economic and political benefits from doing so, you cannot tell the public that any adverse consequences of leaving are all the club’s fault, for wilfully not carrying on giving you club benefits when you leave. Nor can you just wish away issues at borders, whether on land or cross-Channel, when the entire purpose of leaving the Single Market and Customs Union must be to run deliberately different regulatory regimes – chosen by your own Parliament – where you believe it suits you. Such choices by definition entail a hard border. Borders across the whole world demarcate different regulatory regimes.


Even the border between Sweden and Norway, one in the EU, the other out of it but wanting to remain much closer ‘in’ to EU institutional and legal frameworks (Single Market, Schengen) than our government, is a hard border. If alternative arrangements currently existed which obviated the need for any such border, they would already be operating right there. They are not.

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“Another contraction in the current quarter would officially herald a recession.”

Ahead of Brexit, UK Factories Go Quiet (R.)

British manufacturing contracted last month at the fastest rate in seven years, rocked by the deepening Brexit crisis and the global downturn, boding poorly for the chances of an economic rebound in the third quarter, a survey showed on Monday. The IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) fell to 47.4 from 48.0 in July, a full point lower than the median forecast in a Reuters poll of economists and well below the 50 dividing line for growth and contraction.


Only German manufacturing fared worse among the national PMIs produced for Europe by data company IHS Markit. “The big picture is that manufacturing is on track to contract for a second consecutive quarter, and a meaningful recovery is unlikely given the ongoing struggles of global manufacturing,” Andrew Wishart, UK economist at consultancy Capital Economics, said. Britain’s overall economy shrank in the second quarter too, a hangover from the stockpiling boom in advance of the original March Brexit deadline. Another contraction in the current quarter would officially herald a recession.

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What she said in private…

Hong Kong Leader Says She Would ‘Quit’ If She Could (R.)

Embattled Hong Kong leader Carrie Lam said she has caused “unforgivable havoc” by igniting the political crisis engulfing the city and would quit if she had a choice, according to an audio recording of remarks she made last week to a group of businesspeople. At the closed-door meeting, Lam told the group that she now has “very limited” room to resolve the crisis because the unrest has become a national security and sovereignty issue for China amid rising tensions with the United States. “If I have a choice,” she said, speaking in English, “the first thing is to quit, having made a deep apology.”

Lam’s dramatic and at times anguished remarks offer the clearest view yet into the thinking of the Chinese leadership as it navigates the unrest in Hong Kong, the biggest political crisis to grip the country since the Tiananmen Square protests of 1989. Hong Kong has been convulsed by sometimes violent protests and mass demonstrations since June, in response to a proposed law by Lam’s administration that would allow people suspected of crimes on the mainland to be extradited to face trial in Chinese courts. The law has been shelved, but Lam has been unable to end the upheaval. Protesters have expanded their demands to include complete withdrawal of the proposal, a concession her administration has so far refused. Large demonstrations wracked the city again over the weekend.


Lam suggested that Beijing had not yet reached a turning point. She said Beijing had not imposed any deadline for ending the crisis ahead of National Day celebrations scheduled for October 1. And she said China had “absolutely no plan” to deploy People’s Liberation Army troops on Hong Kong streets. World leaders have been closely watching whether China will send in the military to quell the protests, as it did a generation ago in the bloody Tiananmen crackdown in Beijing. Lam noted, however, that she had few options once an issue had been elevated “to a national level,” a reference to the leadership in Beijing, “to a sort of sovereignty and security level, let alone in the midst of this sort of unprecedented tension between the two big economies in the world.”

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… and now denies in public.

Carrie Lam: Hong Kong Leader ‘Never Tendered Resignation To Beijing’ (BBC)

Hong Kong leader Carrie Lam has denied ever offering to resign, after audio was leaked of her saying she would if she could. Yesterday a recording of a private meeting emerged where she is heard saying: “If I have a choice, the first thing is to quit.” On Tuesday she said she had “never tendered any resignation”, but did not deny the authenticity of the recording. [..] The audio, published by Reuters on Monday, was recorded at a private meeting of business leaders that Ms Lam attended last week. In it she is heard blaming herself for igniting the territory’s political crisis, saying it was unforgiveable of her to have caused such huge havoc. “If I have a choice, the first thing is to quit, having made a deep apology, is to step down,” the voice on the tape says.


[..] She also says in the recording that China does not have a deadline by which it wants to solve the crisis in Hong Kong, and that Chinese authorities would not send in troops to end the protests. At a weekly press conference, Ms Lam was asked about the leaked audio. She said it was “totally unacceptable” that her remarks made in private had been recorded and passed to the media. “I have never tendered a resignation to the Central People’s Government,” the chief executive told reporters. “I have not even contemplated to discuss a resignation with the Central People’s Government.” “The choice of not resigning is my own choice,” she said, insisting she wanted “to help Hong Kong in a very difficult situation and to serve the people of Hong Kong”.

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“..the RussiaGate ploy alerted Americans that there truly is a Deep State with its own self-winding agenda.”

The Quickening (Kunstler)

Cue the rise of the redistributionists, that is, the people who want the government to determine who gets what and where to get it. Or, shall we say, who to take it from. Elizabeth Warren is leading the pack for now — the Oklahoma once-Republican grandma turned Leon Trotsky wannabe. I’ll give her this: she’s a helluva cheerleader. And she’s energetic for an old broad, prancing around the stage in her spandex yoga pants, arms akimbo, head vibrating. I wonder, though, whether voters (those aforesaid citizens) will remember that she vowed to give free health care to border-jumpers. Or that she pretended to be a Cherokee for career advancement at snooty Harvard. A rowdy-dowdy financial smash-up will tarnish the Trump MAGA brand for sure.


But will the Golden Golem of Greatness simply stew in the oval office or try some desperate new stunts to salvage his quixotic political career? And will his shaky marriage with the Republican Party veer into divorce court, with the party turning to a steadier and more conventional figure in the coming election year? They’ll get beat anyway as economic depression mounts, but they’ll save face in defeat. That is, if Mr. Trump manages to not start World War Three in the meantime. Odious as he is to many, history will record one salutary effect of his term in office: the RussiaGate ploy alerted Americans that there truly is a Deep State with its own self-winding agenda. A few perp-walks upcoming may have a chastening effect on future Swamp critters entertaining a higher calling, as the slippery James Comey put it — meaning, using the powerful machinery of government for your own purposes.

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Can’t find any of his accomplices, can we?

Jeffrey Epstein’s Model-Scouting Pal Has ‘Disappeared Without A Trace’ (NYP)

The model agency boss accused of scouting young girls for pedophile pal Jeffrey Epstein has disappeared like a “ghost,” as investigators scour the globe searching for him, a new report said. French authorities want to quiz Jean-Luc Brunel, 72, over his ties to Epstein as part of their own probe into the late financier who had a house in Paris, according to the Daily Mirror. “He is a ghost who has disappeared without a trace,” a legal source in Paris told the paper of Brunel, who discovered some of the biggest names in modeling, including Christy Turlington and Angie Everhardt. Investigators have made inquiries throughout the US and Europe, as well as Brazil, where the Frenchman was seen looking for girls just three months before Epstein, 66, was arrested, the paper says. “There is no address for him, all his internet accounts, including social media, have been wiped out. He is uncontactable,” the source told the Mirror.

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Sounds crazy: Boeing simply doesn’t answer questions.

New Delays Could Keep Boeing 737 MAX Grounded Into Holiday Travel Season (MW)

Friction between Boeing and international air-safety authorities threatens a new delay in bringing the grounded 737 MAX fleet back into service, according to government and pilot union officials briefed on the matter. The latest complication in the long-running saga, these officials said, stems from a Boeing briefing in August that was cut short by regulators from the U.S., Europe, Brazil and elsewhere, who complained that the plane maker had failed to provide technical details and answer specific questions about modifications in the operation of MAX flight-control computers.


Boeing as a result now has to resubmit briefing documents describing proposed software changes, these people said. The changes then have to be vetted by the U.S. Federal Aviation Administration before a follow-up meeting with the same participants can be held and crucial simulator and flight tests of the final software revisions scheduled. The upshot, the people said, is likely to be several more weeks of delay that could significantly reduce the likelihood that many of the planes would be back flying passengers in North America during the Christmas holidays, as Boeing and some U.S. carriers have publicly projected. The meetings and the fallout haven’t been reported before.

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At the Roger Waters performance of Wish You Were Here last night.

All Of Us Are In Danger: John Pilger Has Chilling Warning From Assange (RT)

Journalist John Pilger has delivered a stark warning from WikiLeaks co-founder Julian Assange, who said that his persecution is intended to kill dissent. “Speak up now,” Pilger said, or face “the silence of a new kind of tyranny.” Assange is currently serving a 50 week sentence in Belmarsh Prison for skipping a bail hearing in 2012. US authorities are seeking his extradition for his role in publishing classified documents, accusing him of espionage. Speaking at a rally outside the Home Office in London on Monday, Pilger passed on a message from the WikiLeaks editor who, if extradited and convicted, could be sentenced to 175 years in prison.

It’s not just me. It’s much wider. It’s all of us. It’s all journalists, and all publishers who do their job who are in danger.


“The danger Julian Assange faces can easily spread to the present and past editors of the Guardian, the New York Times, Der Spiegel, El Pais in Spain, the Sydney Morning Herald, and many other newspapers and media outlets that published the WikiLeaks revelations about the lies and crimes of our governments,” Pilger continued. “By defending Julian Assange we defend our most sacred rights,” Pilger warned. “Speak up now or wake up one morning to the silence of a new kind of tyranny.”

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In these difficult times, the UK press asks the hard-hitting questions:

 

 

 

 

 

Sep 012019
 


Edouard Vuillard The two sisters 1899

 

Hong Kong Protesters Plan To Disrupt Airport After Night Of Chaos (R.)
The Sheer Scale Of The Crisis Facing Britain’s Decrepit Constitution (O.)
How A Secret Plan To Close Parliament Sparked Uproar Across Britain (O.)
British PM Johnson Challenges Lawmakers To Deliver Brexit (R.)
EU’s Barnier Not Optimistic About Avoiding A No-Deal Brexit (R.)
Lagarde Says Negative Rates Have Helped Europe More Than They’ve Hurt (MW)
Bianco Warns “Negative Rates Are Extremely Toxic” (Gisiger)
Low Interest Rates Compound The Big Problems Facing Pension Funds (MW)
Bernie Sanders Proposes Canceling $81 Billion US Medical Debt (R.)
Breaking The Media Blackout on the Imprisonment of Julian Assange (MPN)
Fifty Shades of Epstein (Hope Kesselring)

 

 

Get the parties involved around a table before people get killed.

Hong Kong Protesters Plan To Disrupt Airport After Night Of Chaos (R.)

Pro-democracy demonstrators planned on Sunday to choke travel routes to Hong Kong’s international airport after a chaotic night of running battles between police and masked protesters, the latest wave of unrest to hit the Chinese-ruled city. Protest organizers have urged the public to overwhelm road and rail links to the airport, one of the world’s busiest, on Sunday and Monday, potentially disrupting flights. People would begin gathering at 1 p.m. (0500 GMT), protest groups said. The airport closed one of its car parks and advised passengers to use public transport, without giving a reason.

A similar so-called “stress test” of the airport last weekend failed to gain momentum. Three weeks ago, some flights were delayed or canceled after protesters swarmed the airport. Late on Saturday and into the early hours, police fired tear gas, water cannon and rubber bullets and protesters threw petrol bombs, escalating clashes that have plunged the Asian financial center into its worst political crisis in decades. As government helicopters hovered overhead, protesters who had been banned from demonstrating set fires in the streets and threw bricks at police near government offices and Chinese military headquarters.

Officers fired two warning shots in the air to scare off a group of protesters who had them surrounded and were trying to steal their pistols, the police said, only the second time live rounds have been used in more than three months of unrest. Police sprayed demonstrators with blue-dyed water to make it easier to identify them later. Parts of the metro system ground to a halt as skirmishes spread to the subway, with television showing images of people being beaten as they cowered on the floor behind umbrellas. Police said they arrested 40 people inside Prince Edward metro station on suspicion of obstructing officers, unlawful assembly and criminal damage. Three stations stayed shut on Sunday.

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“..the eight-word British constitution established in 1689 – What The Crown Assents In Parliament Is Law – is a decaying, time-worn construct on which to protect and advance today’s democracy..”

The Sheer Scale Of The Crisis Facing Britain’s Decrepit Constitution (O.)

To prorogue parliament for no better reason than to avoid parliamentary scrutiny of a no-deal Brexit may have been an intolerable abuse of power, and an affront to democracy, but in Britain it is constitutionally possible. As a result, for all the threats of judicial review and court actions, it will be difficult, if not impossible, to challenge. For the prime minister controls everything, from the business of the House of Commons to the ability to prorogue it. He or she is lent monarchial sovereignty, the same sovereignty that Charles 1 tried to justify because the monarch was supposedly God’s representative on Earth: the divine right of kings, now transmuted into the divine right of Boris.

Part of the-then cleverness of the 17th-century deal was that it co-opted the crown into being the above-the-fray, holder-of-the-ring of proper parliamentary procedure and process. But today, that capacity has evaporated. So when Jacob Rees-Mogg travelled to Balmoral last week to ask the Queen to prorogue parliament, there was virtually no prospect of her refusing – as an elected head of state might have done. She did have the option of saying that on such a controversial use of prerogative power she wanted to go beyond the minimum quorate of three for a privy council meeting (the chief whip and leader of the House of Lords accompanied Rees-Mogg on a separate plane to Balmoral to avoid suspicion) and call for a full meeting including former ministers from other parties, purportedly the constitutional forum to advise her on use of the royal prerogative.

But that would have been seen as a political act. She folded. Exposed as a constitutional cipher, the case for an elected head of state has suddenly become unanswerable. It is but one of the many constitutional earthquakes triggered by Brexit whose aftershocks will be felt for decades. Even the character of the referendum itself is testament to our lack of a constitution. No super-majority was required for this fundamental change in Britain’s relationship with Europe, any more than it was for the Scottish referendum: amazingly, a 42-year and a 300-year union could be ripped apart by a majority of one citizen’s vote.

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It is a peculiar chain of events no matter what you think of it.

How A Secret Plan To Close Parliament Sparked Uproar Across Britain (O.)

For much of August the plan to shut down parliament for five weeks was kept a very tight secret at the heart of government. For the few Whitehall officials who were made aware of it early on, however, it was not difficult to decipher whose fingerprints were all over it. It was clear to that small group that the bombshell idea had been hatched by Boris Johnson’s closest adviser, Dominic Cummings, and No 10’s director of legislative affairs, Nikki da Costa. Cummings has long been known at Westminster for his disdain for Whitehall and the way the entire system of British government works. He doesn’t mince his words or tolerate those he regards as fools. “If he meets resistance from ministers or officials he will just tell them to fuck off, whoever they are,” said one Whitehall source, who has worked with him.

[..] Last Friday an email between a Whitehall official and No 10 was leaked to this newspaper. It made clear that Johnson had approached Cox for advice on a five-week suspension from around 9 September to 14 October. Cox’s initial view, the correspondence made clear, was that it would probably be legal, unless various court actions being planned by Remainers to block prorogation were successful. Downing Street’s official response when asked about the leak was, at first, muted. “No 10 officials ask for legal and policy advice every day,” said a government source.

But when the Observer story broke last Saturday evening, as Johnson and his team were in Biarritz for the G7 summit preparing for meetings with US president Donald Trump and EU council president Donald Tusk the next day, Downing Street changed tack and tried to dismiss the story in a way that was to backfire spectacularly. Johnson’s press team issued a statement saying that “the claim that the government is considering proroguing parliament in September in order to stop MPs debating Brexit is entirely false”. It did not deny that the attorney general had been consulted about prorogation but its intent was clear: to create the impression that shutting down parliament was not going to happen.

But less than 72 hours later more leaks were to follow from people inside the government machine to media organisations saying that the prime minister was to make an announcement about prorogation on Wednesday morning. After the BBC got wind of the new leaks, some senior staff were initially dubious that they were genuine, given No 10’s previous denials. When Johnson announced the exact same plan on which his team had poured buckets of cold water four days earlier, large sections of the media, as well as MPs and much of the country, were understandably furious.

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Johnson is just a figurehead.

British PM Johnson Challenges Lawmakers To Deliver Brexit (R.)

British Prime Minister Boris Johnson challenged lawmakers to deliver on the Brexit vote and not thwart his plans to take Britain out of the European Union on October 31. Johnson has pledged to deliver Brexit with or without a deal, but opposition lawmakers – and several lawmakers from Johnson’s Conservatives – want to act to rule out a no deal Brexit when parliament returns from recess on Tuesday. Previous votes have indicated a majority in parliament opposing a no-deal Brexit, but in a newspaper interview, Johnson said that backing opposition Labour leader Jeremy Corbyn risked there being no Brexit at all.


“The fundamental choice is this: are you going to side with Jeremy Corbyn and those who want to cancel the referendum? Are you going to side with those who want to scrub the democratic verdict of the people — and plunge this country into chaos?,” Johnson told the Sunday Times. “Or are you going to side with those of us who want to get on, deliver on the mandate of the people and focus with absolute, laser-like precision on the domestic agenda? That’s the choice.”

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He’s seen enough.

EU’s Barnier Not Optimistic About Avoiding A No-Deal Brexit (R.)

The European Union’s top Brexit negotiator Michel Barnier said he was not optimistic about avoiding a no-deal scenario as the EU could not meet Britain’s demands that the backstop for the Irish border is removed from the withdrawal agreement. Writing in the Sunday Telegraph, Barnier said that the so-called “backstop” had to stay to protect the integrity of the EU’s single market while ensuring an open border on the island of Ireland. “I am not optimistic about avoiding a no-deal scenario, but we should all continue to work with determination,” Barnier said, according to extracts of his article on the newspaper’s front page.


“The backstop is the maximum amount of flexibility that the EU can offer to a non-member state.” Prime Minister Boris Johnson has vowed to take Britain out of the EU with or without a deal on October 31. Opposition lawmakers plan to act next week to stop no-deal in parliament. Writing in the same newspaper, Johnson’s de facto deputy Michael Gove said that to remove the option of a no-deal Brexit on Oct 31 would “diminish” the “chances of securing changes” to the Brexit deal that could get it passed through parliament.

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Translation: the new ECB head does not have confidence in free markets. She thinks central bankers can do a better job.

Lagarde Says Negative Rates Have Helped Europe More Than They’ve Hurt (MW)

The next head of the European Central Bank, Christine Lagarde, appears to be as much of a fan of negative interest rates as the current chief, Mario Draghi. In written answers provided to the European Parliament that were released on Thursday, Lagarde said negative interest rates have helped Europe. The ECB’s deposit rate is negative 0.4%. “On the one hand, banks may decide to pass the negative deposit rate on to depositors, lowering the interest rates the latter get on their savings,” she wrote. “On the other hand, the same depositors are also consumers, workers, and borrowers. As such they benefit from stronger economic momentum, lower unemployment and lower borrowing costs.


“All things considered, in the absence of the unconventional monetary policy adopted by the ECB – including the introduction of negative interest rates – euro area citizens would be, overall, worse off.” European banks have complained about the impact on profitability, but even there the current managing director of the International Monetary Fund defended the move. “With regard to the impact of negative rates on banks’ profitability, empirical analysis suggests that the negative effects on banks’ net interest income have been so far more than offset by the benefits from more bank lending and lower costs for provisions and impairments due to the better macroeconomic environment, which to a significant extent is a result of accommodative monetary policy,” she wrote.

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“..Trump is “going to eleven” on trade: He’s going to turn it up so high that there is going to have to be a deal. That’s the way he wants to do this. He will just make it intolerable so everybody has to sit down and cut a deal.”

Bianco Warns “Negative Rates Are Extremely Toxic” (Gisiger)

Jim Bianco, President of Bianco Research, cautions against evermore unconventional monetary policy interventions. He fears that the global slowdown is going to get worse and he spots opportunities in long-term bonds and gold. The global economy is on the brink: Europe is headed for recession, Japan as well and China’s growth rate is the slowest in almost thirty years. Only the economy in the United States seems to hold up. But for how long? «We live in a global world and if Japan and Europe are struggling and the world has a problem it’s going to come to the US eventually», says Jim Bianco. According to the internationally renowned macro strategist, the biggest threat to the US economy is the inverted yield curve.

«This is the market’s way of saying the Federal Funds Rate is too high and must come down», Mr. Bianco is convinced. Against this backdrop, the founder and President of Chicago based Bianco Research argues that the Federal Reserve should cut its target rate by 50 basis points at the next FOMC meeting. He also cautions against introducing negative interest rates in the United States during the next recession because in his view that would cripple the global financial system.

[..] First, the trade and currency wars where the situation reminds me somewhat of «This Is Spinal Tap». It’s a cult satire movie from the eighties about a rock band and they coined the phrase «up to eleven» because that’s how high their amplifier went. So the expression «turning it up to eleven» refers to the act of taking something to an extreme. I’m saying this because I think Trump is “going to eleven” on trade: He’s going to turn it up so high that there is going to have to be a deal. That’s the way he wants to do this. He will just make it intolerable so everybody has to sit down and cut a deal.

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Pension funds are dead.

Low Interest Rates Compound The Big Problems Facing Pension Funds (MW)

The largest public pension funds have over $1 trillion in aggregate unfunded liabilities. Low interest rates are going to make it harder for these and other pension plans to rely on investment returns alone to meet their obligations to retirees. Interest rates in the U.S. have been declining for over 20 years, and short-term rates have been hovering close to zero over the last decade. Negative interest rates in Japan and Europe and mounting expectations of rate cuts by the Federal Reserve have expanded the pool of bonds with negative yields to more than $16 trillion, or around 27% of the global bond market. Initially, low interest rates are good for asset prices.

Simplistically, this is because investors seeking similar returns as before are now forced to take capital that they would have otherwise invested in safe government bonds and deploy it into riskier assets (equities, high yield bonds, etc.), thereby driving up prices of these assets. In addition to stronger economic growth coming out of the 2008 financial crisis, this is one of the factors leading to strong performance of equities over the past decade. However, going forward it is unlikely that asset returns are going to be similar to what we witnessed over the last decade. One of the reasons is that risky asset returns are generally priced as a spread over risk-free real returns (i.e. inflation-adjusted returns). This makes intuitive sense, as investors would demand additional return for taking on risk.

If the risk-free rate is low, and there is high demand for risky assets, then the total investment return (risk free rate + risk premia/spread) will likely be lower than in a scenario with higher interest rates, all else being equal. According to Voya Investment Management’s capital market assumptions, expected returns for equities over the next 10 years is likely to be around 1.50 percentage points to 3.3 percentage points lower than assumptions in 2013.

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Like with student debt, helping only some people appears counter-productive.

Bernie Sanders Proposes Canceling $81 Billion US Medical Debt (R.)

U.S. presidential contender Bernie Sanders proposed a plan on Saturday to cancel $81 billion in existing past-due medical debt for Americans, but offered no details on how it would be financed. Sanders, an independent U.S. senator from Vermont, said in a statement that under his plan, the government would negotiate and pay off past-due medical bills that have been reported to credit agencies. The proposal, he said, would also repeal some elements of the 2005 Bankruptcy reform bill and allow other existing and future medical debt to be discharged. “In the United States of America, your financial life and future should not be destroyed because you or a member of your family gets sick,” said Sanders.


“That is unacceptable. I am sick and tired of seeing over 500,000 Americans declare bankruptcy each year because they cannot pay off the outrageous cost of a medical emergency or a hospital stay.” According to Sanders, medical debt is the leading cause of consumer bankruptcy, with more than half a million Americans filing due to medical expenses each year. He said the 2005 Bankruptcy reform bill made it difficult to discharge medical debt by imposing strict means tests and eliminated fundamental consumer protections for Americans. “It also trapped families with medical debt in long-term poverty, mandated that they pay for credit counseling before filing for bankruptcy, and increased the need for expensive legal services when filing a case for medical bankruptcy,” the senator said.

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“..the strategy of the powerful appears to be to know as much as possible about the rest of us while ensuring that we know as little as possible about them and how they operate..”

Breaking The Media Blackout on the Imprisonment of Julian Assange (MPN)

The role of journalism in a democracy is publishing information that holds the powerful to account — the kind of information that empowers the public to become more engaged citizens in their communities so that we can vote in representatives that work in the interest of “we the people.” There is perhaps no better example of watchdog journalism that holds the powerful to account and exposes their corruption than that of WikiLeaks, which exposed to the world evidence of widespread war crimes the U.S. military was committing in Iraq, including the killing of two Reuters journalists; showed that the U.S. government and large corporations were using private intelligence agencies to spy on activists and protesters; and revealed how the military hid tortured Guantanamo Bay prisoners from Red Cross inspectors.

It’s this kind of real journalism that our First Amendment was meant to protect but engaging in it has instead made WikiLeaks publisher Julian Assange the target of a massive smear campaign for the last several years — including false claims that Assange is working with Vladimir Putin and the Russians and hackers, as well as open calls by corporate media pundits for him to be assassinated. The allegations that Assange conspired with Putin to undermine the 2016 election and American democracy as a whole fell completely flat earlier this month when a U.S. District Court for the Southern District of New York dismissed this case as “factually implausible,” with the judge noting that at no point does the prosecution’s “threadbare” argument show “any facts” at all, and concluding that the idea that Assange conspired with Russia against the Democratic Party or America is “entirely divorced from the facts.”


[..] It is important to ask ourselves what Julian Assange’s real crime is. In an era, dubbed the Information Age, where the strategy of the powerful appears to be to know as much as possible about the rest of us while ensuring that we know as little as possible about them and how they operate, Assange worked to prevent that imbalance from becoming a rout, and stuck like a bone in the throat of the mighty.

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Interesting take for sure.

Fifty Shades of Epstein (Hope Kesselring)

A few weeks ago, half the top ten Amazon best sellers in romantic erotica were based around the trope of the BDSM billionaire, with Grey by E. L. James holding firm in the top ten. In the world of erotic romance, the 50 Shades of Grey series has been a continuous presence for over seven years. Thousands of riffs on the sexy and sadistic billionaire exist: Russian billionaire, billionaire blackmailer, billionaire stepbrother. I’m not trying to kink shame, but it would take a lot of money to convince me to write detailed descriptions of torture sessions in a gilded dungeon. This is especially true in the shadow of financier Jeffrey Epstein’s death. Mental and sexual abuse by an obscenely wealthy man now just seems, well, obscene.


I should point out that James’ character, Christian Grey, strikes me as more a domestic abuser than a real BDSM enthusiast. He is a billionaire in the tech industry who fixates on Ana, a 21-year old virgin. He puts surveillance software on her phone. He harasses her to sign a submissive’s contract, and even though she never signs it, he still treats her like a sex slave. He manipulates Ana into doing sex acts for which she doesn’t give consent. Blatant consumerism sits on the page in stark contrast to real life. 50 Shades of Grey eroticizes money and abuse. The writing is universally panned and mocked by critics, yet it’s sold 125 million copies. How in the world of publishing did it even come to be? Let’s go back to 2008. That year the economy was melting down, Jeffrey Epstein pleaded guilty to a felony sex offense, and the Twilight series of vampire romance novels for teen girls were bestsellers.

Twilight was a young adult twist on the long-popular vampire romance, which had flourished in that market since Anne Rice’s Interview With the Vampire appeared. Probably some of Epstein’s victims read the Twilight books. 50 Shades of Grey marks a shift in the erotic romance genre from vampires to billionaires. In 2009, E. L. James started publishing her version of Twilight on fanfiction websites, churning out a chapter every couple of days. Master of the Universe, as it was called then, was popular but criticized for being too racy, so she moved it to her own website and renamed the characters. James didn’t know it yet, but she was about to be catapulted to international fame by some upper middle class moms in the suburbs of New York City.


[..] In the autumn of 2011, news about Occupy Wall Street, a movement that began in reaction to the deeds of the predatory class, dominated headlines. Posters portrayed the 1% as greedy Monopoly men, far from sexy. Occupy protesters had the media’s attention for a short time before the idea was squashed. That November, Jeffrey Epstein registered as a sex offender in New York after completing his jail term and moving back into his Manhattan mansion, free to continue abusing girls. 2012 was E. L. James’ year. A prominent lifestyle blog (started by an NYU communications graduate married to a talent manager) promoted James’ fanfiction novel as sexually liberating to fashion-conscious moms in upscale suburban New York. James got a book deal and “mommy porn” was born. Paperbacks with necktie covers appeared on bookshelves and in beach bags everywhere.

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