Jan 212020
 


Alfred Palmer U.S. Marine Corps glider detachment training camp, Parris Island, SC 1943

 

Davos Man Is Richer Than Ever (BBG)
Markets Tumble As Human-to-Human Transmission Coronavirus Confirmed (ZH)
Flynn’s Lawyer: FBI Agents Wrote Flynn Didn’t Lie, We Have Eyewitness (ET)
McConnell Proposes Compressed Schedule For Impeachment Trial (Hill)
How The Senate Trial’s First Day May Proceed (Fox)
White House Appoints GOP House Members To Advise Trump’s Impeachment Team (Hill)
Chief Justice Roberts Under Pressure From Both Sides In Witness Fight (Hill)
Boeing Scrambles to Borrow $10 Bn After $43 Bn in Share-Buybacks (WS)
Putin Sends His Constitutional Proposals to Parliament (ET)
Martin Luther King and the Black Revolutionary Tradition (Eric Mann)
Ukraine, China Knew Hunter Biden Was Chronic Drug Addict, Hired Him Anyway (GP)
Former OPCW Specialist Ian Henderson Speaks At UN (YT)

 

 

I said all I have to say about this in yesterday’s Go Home Greta.

Davos Man Is Richer Than Ever (BBG)

Davos Man is richer than ever. A decade after the financial crisis poured flat champagne on the World Economic Forum, gold-collar executives set to gather there this week have bounced back, and then some. David Rubenstein has doubled his fortune since 2009. Jamie Dimon has more than tripled his net worth. And Stephen Schwarzman has increased his wealth six-fold.It’s a remarkable showing given the economic and political tumult of the past decade, from Lehman Brothers to Brexit to Donald Trump. The fortunes of a dozen 2009 Davos attendees have soared by a combined US$175 billion, even as median U.S. household wealth has stagnated, a Bloomberg analysis found.

The data illustrate the ever-widening gap between the true haves—those in the 0.1 percent—and the have-nots of a global economy. Data from UBS and PwC Billionaires Insights reports show that global billionaire wealth has grown from $3.4 trillion in 2009 to $8.9 trillion in 2017.Central bank actions to fight the financial crisis—record low interest rates and bond-buying programs—have underpinned this ballooning wealth by driving up the prices of stocks and other assets.“Ten years ago, ironically at the lows of the market, what you wanted to own was capital and if you did own capital you did incredibly well,” said Michael Hartnett, Bank of America Corp.’s chief investment strategist. It means Davos Man—the conference remains overwhelmingly male—exerts more authority and visibility than ever.

Dimon is returning to the WEF with JPMorgan Chase & Co. larger and more profitable than ever. Schwarzman—recognizable in his tan winter coat over suit—has built Blackstone Group LP into the world’s largest alternative asset manager with $457 billion of assets as of Sept. 30, 2018, up from $95 billion at the end of 2008. And Davos remains as popular as ever. The forum—titled Globalization 4.0—is expected to host 3,000 people. This year, George Soros is hosting a dinner at which he will speak and Dimon’s JPMorgan is throwing a drinks party. Bill Gates will be present again as will billionaire Carlyle Group co-founder Rubenstein, who hosts a show on Bloomberg Television and whose fortune has doubled over the past decade.

Read more …

“There are now sufficient cases that it’s not going to die out by chance..”

Markets Tumble As Human-to-Human Transmission Coronavirus Confirmed (ZH)

Dow futures are down over 100 points, AsiaPac equity markets are down harder, and Treasuries are well bid along with gold after a Chinese officials confirmed the coronavirus can be spread by human-to-human contact, and the deadly disease is spreading to other asian nations. “Now we can say it is certain that it is a human-to-human transmission phenomenon,” Zhong Nanshan, a scientist who is leading a government-appointed expert panel on the outbreak, said in an interview on state-run television on Monday. As The New York Times reports, cases have been reported outside China.

“The authorities in Thailand detected the new coronavirus last week in two Chinese women who had flown from Wuhan to Bangkok on separate trips. The government said the women, aged 74 and 61, were in good condition. In Japan, a Chinese man who returned from Wuhan on Jan. 6 was also confirmed to have the disease. He was discharged after five days in a hospital. South Korea confirmed its first case of the coronavirus on Monday in a 35-year-old Chinese woman from Wuhan who arrived on Sunday at Incheon International Airport, which serves Seoul. The woman was found with a fever, muscle pain and other symptoms while going through customs and was immediately quarantined for tests, said Jung Eun-kyeong, director of the Korea Centers for Disease Control and Prevention.

The woman was traveling with five other people intending to spend the Lunar New Year holidays in South Korea and Japan, Ms. Jung said. South Korean officials were running tests on anyone believed to have come in contact with the woman in the plane, she said.” And fear of a SARS 2.0 outbreak have sparked risk-off trades in early Asia trading. “There are now sufficient cases that it’s not going to die out by chance,” said Neil Ferguson, a public health expert at Imperial College London who has studied the new virus.

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Michael Flynn’s destiny was turned on its head in June 2019 when he hired Sidney Powell. Good on him. Still wondering how he got from near bankruptcy to hiring an A-list lawyer.

Flynn’s Lawyer: FBI Agents Wrote Flynn Didn’t Lie, We Have Eyewitness (ET)

Sidney Powell, lawyer of Lt. Gen. Michael Flynn, said the FBI excluded crucial information from a report on their interview of her client. The report, an FBI 302 form, was used to charge Flynn with lying to the FBI, but the original draft of the 302 stated that Flynn was honest with the FBI, according to a witness who saw the draft, Powell said. Flynn, former head of the Defense Intelligence Agency and former national security adviser to President Donald Trump, pleaded guilty on Dec. 1, 2017, to one count of lying to FBI agents during a Jan. 24, 2017, interview. A 302 report summarizing the interview was supposed to be filed within five days. But the earliest draft Flynn’s lawyers were provided was from Feb. 10, 2017—more than two weeks after the interview.

Powell, who took over Flynn’s defense in June 2019, has for months asserted that an earlier 302 must exist. Prosecutors have said they don’t have it, stopping short of saying it doesn’t exist. In an Oct. 24, 2019, court filing, Powell rejected the suggestion that the 302 draft was “missing,” saying neither the bureau nor its digital document system “loses the most important of its reports that is supposed to support the federal felony of the President’s National Security Adviser.” On Jan. 16, Powell disclosed that she has a witness who could attest to what was in the original draft. “I’ve now found a witness who says the original 302 did in fact say that Flynn was honest with the agents and did not lie,” she told Larry O’Connor on his WMAL radio show. “So for somebody to delete that from the 302 is just beyond outrageous.”

She didn’t elaborate much further when asked by The Epoch Times. “Can’t say more about witness but yes, person saw it,” she said via email. [..] In June 2019, after Flynn fired his original lawyers and hired a new legal team led by Powell, prosecutors asked Flynn to testify that he signed [his now-defunct consultancy, Flynn Intel Group (FIG)]’s lobbying forms knowing there were lies in them. He refused, saying he only learned there was something wrong with the registration in retrospect. That angered the lead prosecutor, Brandon Van Grack, notes from a June 27, 2019, conference call indicate. Powell said that ever since then, the prosecutors’ behavior has been “retaliatory, vindictive, and in bad faith” because Flynn refused to lie.

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Every comma must now be vehemently protested.

McConnell Proposes Compressed Schedule For Impeachment Trial (Hill)

House impeachment managers will have 24 hours over two days to make their opening arguments when they begin to present their case against President Trump to the Senate Wednesday, according to a resolution circulated by Senate Majority Leader Mitch McConnell (R-Ky.). President Trump’s team similarly will have two days to present their arguments and then senators will have a chance to ask questions and consider subpoenas of witnesses. The resolution, as expected, does not require additional witnesses to be subpoenaed and does not allow House prosecutors to admit evidence into the Senate trial record until after the opening arguments are heard.

Senate Democratic Leader Charles Schumer (D-N.Y.) quickly pushed back and vowed to force votes on amendments. “Sen. McConnell’s resolution is nothing short of a national disgrace,” Schumer said in a statement Monday afternoon. Both sides will have 24 hours to make their first round of arguments — the same amount of time House impeachment managers and Bill Clinton’s lawyers received in 1999, but on a more compressed time schedule than required more than 20 years ago.

The resolution includes language favored by Sen. Susan Collins (R-Maine) and other GOP moderates requiring a debate and vote on subpoenaing new witnesses and documents. Sen. Lamar Alexander (R-Tenn.), who worked with McConnell and Collins to modify the resolution, said it “guarantees a vote on whether we need additional evidence at the appropriate time.” A Senate GOP leadership aide noted that prosecutors in the Clinton trial didn’t use all of their allotted time and finished their opening arguments within three days. Schumer argues that forcing House managers to cram their opening arguments into a two-day window will force them to present on the Senate floor well into the evening and possibly past midnight.

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A handy guide.

How The Senate Trial’s First Day May Proceed (Fox)

Here is how things are expected go down Tuesday in the Senate for President Trump’s impeachment trial. By rule, the trial session begins at 1 p.m. ET. Expect to see Senate Sergeant-at-Arms Michael Stenger reprising his role from last week, bringing order to the Senate. Stenger may appear at other points along the way, too. The first order of business for the Senate will be to swear-in Sen. Jim Inhofe, R-Okla. Inhofe wasn’t present last week when all other senators were sworn in. He was attending to a family emergency. Then, there will be some short, administrative activity for documents, et al. Viewers are likely to see two women on the dais, whispering to Chief Justice John Roberts, giving advice and passing messages.

They are Senate Parliamentarian Elizabeth MacDonough and Assistant Parliamentarian Leigh Hildebrand. Once the Senate gets through the basics, it’s time for Senate Majority Leader Mitch McConnell, R-Ky., to offer his resolution dictating the parameters of the trial. McConnell’s proposal is formally known as a “motion” in Senate parlance. And, by rule, the Senate then has two hours per side to debate the McConnell plan. The Senate will have to eat up all of that two hours, unless there is unanimous consent – meaning all 100 senators agree — to cut things short. The seven House managers and members of Trump’s defense team – not any senators – would debate the proposal. So, barring anything strange, this probably gets us close to 3:30 p.m. ET.

Then, it’s up to Senate Minority Leader Chuck Schumer, D-N.Y., to offer his counter-proposal. The Senate has something known as “the amendment tree.” One could think of the McConnell proposal as the “trunk” of the tree. Schumer’s proposal is a “branch” of the tree. Schumer’s proposal, or proposals – so, sprigs growing off of the Schumer branch of the tree – all would represent possible amendments on which the Senate likely will have to debate and conduct a roll call vote on Tuesday evening. What will Schumer propose? Different time allocations for the trial? Different times when they start or stop the arguments? Proposals on witnesses and documents? By rule, Schumer’s proposal gets two hours of debate as well, with no senators participating in the debate — just the impeachment managers and the president’s counsel.

Timing: If they do this by the book, we probably get 5:30 or 6 p.m. ET, if not later. However, a potential wild card is afoot. Fox News is told to expect a closed Senate session after these two debates, meaning lawmakers essentially would kick everyone out of the chamber: the public, the media, the president’s legal team and the impeachment managers. The only people left: senators, Roberts and essential floor staff. Fox News has no idea how long this could go, but it would happen in the Senate chamber itself, not the Old Senate Chamber.

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“..provided guidance to the White House team, which was prohibited from participating in the proceedings concocted by Democrats in the House of Representatives”

White House Appoints GOP House Members To Advise Trump’s Impeachment Team (Hill)

The White House announced Monday that President Trump appointed several prominent Republican House members to advise his impeachment defense team ahead of the Senate trial set to begin this week. GOP Reps. Jim Jordan (Ohio), John Ratcliffe Texas), Mike Johnson (La.), Mark Meadows (N.C.), Debbie Lesko (Ariz.), Lee Zeldin (N.Y.), Elise Stefanik (N.Y.) and Doug Collins are set to play leading roles. A statement from the White House said the lawmakers “have provided guidance to the White House team, which was prohibited from participating in the proceedings concocted by Democrats in the House of Representatives” throughout the House proceedings and would continue to do so in the Senate.

The lawmakers served as some of the president’s strongest allies during the House’s impeachment proceedings, adamantly defending the president’s dealings with Ukraine. Jordan, a firebrand conservative who serves as the top Republican on the House Oversight and Reform Committee and a leading member of the House Freedom Caucus, has garnered a reputation for being one of Trump’s most aggressive attack dogs on impeachment.

Ratcliffe, who sits on the House Intelligence Committee and served as U.S. attorney for the Eastern District of Texas before being elected to Congress, was previously tapped by the president last year to become the director of national intelligence before he withdrew from consideration. His line of questioning during the public hearings was widely praised by his GOP colleagues in the House. Collins, the top Republican on the House Judiciary Committee and confidant to the president, played a key role in pushing back against Judiciary Chairman Jerrold Nadler (D-N.Y.) during the final hearings. And Johnson, the chairman of the Republican Study Committee who also sits on the House Judiciary Committee, practiced constitutional law.

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Roberts may regret this job.

Chief Justice Roberts Under Pressure From Both Sides In Witness Fight (Hill)

Senate Democrats are pressing Chief Justice John Roberts to rule in favor of calling witnesses at President Trump’s impeachment trial, while Republicans argue it could force his recusal from potential Supreme Court cases. Democrats say it’s simple: A trial can’t be a fair one without witnesses. Republicans counter that if Roberts rules on witnesses, he will have to recuse himself from any Supreme Court case on Trump’s claims of executive privilege over potential witnesses like former national security adviser John Bolton and acting White House chief of staff Mick Mulvaney. “I don’t know how you have a serious trial unless you hear from witnesses who know in fact what the facts are, what happened,” said Sen. Bernie Sanders (I-Vt.).

“I think it would be appropriate for the chief justice to do what I think should be done, and that is to allow witnesses to testify,” he added. While Roberts is expected to refer major disputes over trial procedures to the entire Senate for a vote, some Democrats hope he will make his own rulings on what they say are basic questions of fair jurisprudence. Democrats argue that holding a trial but blocking the consideration of relevant witness testimony and document review would fall well short of what’s considered a fair trial in any court of law.

“We’ve been working to get an agreement with Republicans about the relevant witnesses for the trial and relevant documents and we’re continuing that effort,” said Sen. Chris Van Hollen (D-Md.). “Those types of questions will have to be considered as the trial proceeds.” Senators who want Roberts to intervene have pointed to the precedent set by then-Chief Justice Salmon P. Chase in the 1868 impeachment trial of President Andrew Johnson. Chase broke two ties on procedural deadlocks, including a vote on whether he could break ties.

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All you need to know: “..its total liabilities ($136 billion) exceed its total assets ($132 billion)..”

Boeing Scrambles to Borrow $10 Bn After $43 Bn in Share-Buybacks (WS)

The first thing to know about Boeing’s mad scramble to line up “$10 billion or more” in new funding via a loan from a consortium of banks, on top of the $9.5 billion credit-line it obtained in October last year – efforts to somehow get through its cash-flow nightmare caused by the 737 MAX fiasco – is that the company blew, wasted, and incinerated $43.4 billion to buy back its own shares since June 2013, having become a master of financial engineering instead of aircraft engineering. If Boeing had focused on its business – such as designing a new plane instead of doctoring an ancient design to save money and time – and if it hadn’t blown $43 billion on share-buybacks but had invested this money in a new design, those two crashes wouldn’t have occurred, and it wouldn’t have to beg for cash now.


The chart below shows the cumulative share-buybacks in billions of dollars since Q1 2009. In Q2 2019, it belatedly halted the share buybacks. As is always the case with share buybacks, the idea is to buy high in order to drive shares even higher. This is what you learn on the first day of Financial Engineering 101. So Boeing stopped buying back its shares in Q1 2009 when its shares had plunged into the $35-range, at which point they were a good deal, and then recommenced share-buybacks in Q2 2013 when its shares had already risen to the $100-range.

The second thing to know about Boeing’s mad scramble to borrow another $10 billion is that it already has a huge amount of debt and other liabilities, and that its total liabilities ($136 billion) exceed its total assets ($132 billion) by about $4 billion as of September 2019, meaning that it has negative net equity, that the share buybacks have destroyed its equity, which is what share buybacks do to the balance sheet. It also means that every dime in “cash” and “cash equivalent” listed on the balance sheet is borrowed. And this is about to get a whole lot worse. In October 2019, Boeing had already obtained a new credit line of $9.5 billion, which about doubled the size of its existing credit line. Credit lines serve as liquidity backup. And now Boeing is scrambling to pile “$10 billion or more” in new loans on top of it.

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Note: Putin will be President until 2024.

Putin Sends His Constitutional Proposals to Parliament (ET)

Russian President Vladimir Putin on Monday submitted to parliament a package of constitutional amendments widely seen as an attempt to secure his grip on power well after his current term ends in 2024. Putin first presented the proposed changes in his state-of-the-nation address Wednesday, arguing they are intended to bolster the role of parliament and strengthen democracy. Kremlin critics have argued that they are intended to allow his rule for life. The Kremlin-controlled lower house, the State Duma, received a draft bill on constitutional proposals from the Kremlin and quickly scheduled the first of three required readings for Thursday.


Putin, 67, has been in power for more than 20 years, longer than any other Russian or Soviet leader since Josef Stalin, who led from 1924 until his death in 1953. Under the law now in force, Putin must step down as president when his current term ends. Putin proposed that the constitution must specify the authority of the State Council, an advisory body that consists of regional governors and top federal officials. The Kremlin’s constitutional bill submitted to parliament empowers the Council to “determine the main directions of home and foreign policy,” its specific authority yet to be spelled in a separate law. Observers say that the proposed changes could allow Putin to stay in charge by shifting into the position of the Council’s head.

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Mann: “..in 1964 I was a field secretary with the Congress of Racial Equality”. Long piece.

Martin Luther King and the Black Revolutionary Tradition (Eric Mann)

Every year, until The Revolution comes again, the counter-revolution manipulates the historic birthday of Dr. Martin Luther King, that so many people fought for, as their symbol of Black “integration” into imperialism and “non-violent” acquiescence to, at best, Barack Obama’s cynical negation of his dream. As Donald Trump has just assassinated Iranian General Quassem Soleimani—with Democratic Party token opposition at best and acquiescence at worse, Dr. King reminds us that “the United States, my government, is the greatest purveyor violence in the world.”

As Bernie Sanders and Elizabeth Warren squabble for position and too often, reduce the meaning of life to a barren economic populism, Dr. King reminds us that U.S. society is a moral disgrace and we need a revolutionary movement to challenge its “racism, militarism, poverty, and materialism.” His thoughts offer Democrats and the Movement a challenge. There is an urgent need for a revolutionary worldview to challenge the racism and reaction of Donald Trump’s Make America Great fascist appeal. Meanwhile, on the ground, Black and Latino communities and the world are suffering the worst political, economic, and ecological catastrophe with little help in sight. In this context the most engaged and introspective study of Dr. King’s theory and practice is an urgent corrective than can offer hope and inspiration.

“Like anybody, I would like to live – a long life; longevity has its place. But I’m not concerned about that now. I just want to do God’s will. And He’s allowed me to go up to the mountain. And I’ve looked over. And I’ve seen the Promised Land. I may not get there with you. But I want you to know tonight, that we, as a people, will get to the Promised Land. So I’m happy, tonight. I’m not worried about anything. I’m not fearing any man. Mine eyes have seen the glory of the coming of the Lord.”

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To blackmail Joe?!

Ukraine, China Knew Hunter Biden Was Chronic Drug Addict, Hired Him Anyway (GP)

Hunter Biden’s first arrest may have been when he was 18. Hunter was arrested on Jersey Shore related to drug charges in 1988 and had his record expunged. Many years later and after several stops into drug treatment facilities Hunter joined his father the Vice President on a trip to China in 2013 where Hunter — inexperienced and out of place — was able to secure a $1.5 billion from China for private equity fund which he was forming at the time. A year later in early 2014 Hunter was discharged from the Navy for testing positive for cocaine. Then in April 2014, just a couple months later, Hunter Biden Hunter joined the Board of Burisma Holdings in the Ukraine. Hunter served on the Board until early 2019. Hunter was paid approximately $50,000 a month in his position.

The largest oil and gas company in the Ukraine hired a chronic drug addict only a few months after the addict was removed from the US Navy for doing cocaine. In 2016 Hunter Biden returned a rental car with a crack pipe with cocaine residue and a small amount of a white, powdery substance. Hunter was never charged with a crime. In 2018 the IRS placed a tax lien on Hunter Biden seeking $112,805 in unpaid taxes from 2015. And according to Page Six, Hunter Biden allegedly spent time at Larry Flynt’s Hustler Club in New York City in 2018. Hunter allegedly ordered pricey booze, was joined by several strippers in a private room while he did drugs and had strippers run to find him a dildo. These are just a few of the allegations against Hunter Biden. After years of drug abuse there are likely many more episodes not yet public.

Any foreign intelligence service worth their salt would have known Hunter Biden was a chronic drug addict. China and the Ukraine, and likely others, hired Hunter Biden anyway. [..] How many times was Joe Biden warned of his dangerous actions related to his drug addicted son? Will the liberal media ever investigate this? Do Americans really believe that this man and his son should be President? Joe and Hunter Biden would destroy the American dream if Joe was elected President. They would blow it away!

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The text here is a Twitter thread from Philip Watson.

Former OPCW Specialist Ian Henderson Speaks At UN (YT)

The damning words of Ian Henderson at tonight’s OPCW United Nations Security Council Arria-Formula Meeting called for by the #Russia-n Federation into the #Douma affair. All words that follow are direct quotes from Mr Henderson.

“I need to point out from the outset, I am not a whistleblower. I don’t like that term. I am a former OPCW specialist who has concerns in many areas and I consider this a legitimate and appropriate forum to explain again these concerns.” “Secondly, I must point out that I hold the OPCW in the highest regard. As well as the professionalism of the staff members who work there. ” “However the concern I have does relate to some specific management practices in certain sensitive missions. The concern, of course, relates to the FFM investigation into the alleged chemical attack on the 7th April in Douma in Syria.”

“My concern, which is shared by a number of other inspectors, relates to the subsequent management lock-down and the practices in the later analysis and compilation of the final report. ” “There were 2 teams deployed, 1 team which I joined shortly after the start of field deployments was to #Douma in Syria, the other team deployed to Country X. ” The main concern relates to the announcement in July/18, of a new concept, the so-called FFM Core Team which essentially resulted in the dismissal of all the inspectors who’d been on the team deployed to locations in Douma and had been following up with their findings & analysis. “The findings of the final FFM report were contradictory, were a complete turn-around, with what the team had understood collectively. ”

“During and after the Douma deployments and by the time of release of the interim report in July 2018 our understanding was that we had serious misgivings that a chemical attack had occurred. ” “What the final FFM report does not make clear and thus does not reflect the views of the team members who deployed to Douma. (In which case I can really only speak for myself at this stage)” “The report did not make clear what new findings, facts, information, data or analysis in the fields of witness testimony, toxicology studies, chemical analysis, engineering and or ballistics studies…” “..had resulted in a complete turn-around in the situation from what was understood by the majority of the team and the entire Douma team in July 2018.”

“In my case I had followed with a further 6 months of engineering and ballistics studies into the cylinders. The results of which had provided further support for the view there had not been a chemical attack.” “This needs to be properly resolved, we believe (Douma FFM Team), through the rigours of science and engineering. In my situation it is not a political debate. I’m very aware that there is a political debate surrounding this.” “Perhaps a closing comment from my side, is that I was also the inspection team leader who developed and launched the inspections, the highly intrusive inspections, of the Barzah SSRC facility outside of Damascus.” “And I did the inspections and wrote the reports for the 2 inspections prior to and the inspection after the chemical facility, or the laboratory complex at Barzah SSRC, had been destroyed by the missile strike. That however is another story altogether.”

Read more …

 

 

 

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Jan 202020
 


Edvard Munch Ashes 1894

 

I have a lot of sympathy for young(er) people who are upset about what has happened, and still is happening, to the planet they were born on, during their lifetime and that of the generations before them. I have less sympathy for the “climate movement” even if those same young people thinnk it represents them, because it has grown too big and too diverse, and has come to rely (for no reason) too much on hype and exaggeration. Don’t feed your opponent or enemy.

The movement also has too little attention for what younger people themselves contribute to the descent into chaos. If you don’t start with yourself, how are you ever going to tell others what to do? How many phones and gadgets and cars do you have? Do your clothes also say Made in China? Personal question.

Naming one’s movement “Extinction Rebellion” strikes me as odd, because the movement appears to be, from what I can see, based almost exclusively on the deleterious effects of carbon emissions, though these have -at least so far- played just a small part in the actual extinction of -far too many- species, much less than the use of chemicals, the loss of forest, and land use in general, just to name some examples.

I have a lot of sympathy for Greta Thunberg, and I’m sure she means very well. But I have no sympathy for the PR people that she allows to surround her, and who make millions of dollars off of her name and appearances. Nor do I think Greta had grasped at age 16 the full complexity of the systems that have led to what she protests against. Very few adults have either, so that’s hardly her fault.

I still think, just like I said a year ago when she was first unloaded upon the Davos conference by those same PR people, that not only is there nothing for her there, but her time would be better spent trying to educate herself about that “full complexity”. Because today, it all appears to me to be too much about what she does not want, rather than about what she does, and to a large extent that’s because she simply doesn’t know. Protesting for something is harder than protesting against it.

 

Because of all these things, the climate movement is actively though unwittingly helping the rich, who got rich through their use of fossil fuels, to get richer still off of society’s adaptation to a world in which fossil fuels play a smaller role.

Yes, there are enormous amounts of irony involved in this. People like the idea of a green economy. They like the sound of it. But if you would ask them what it means in practice, they would picture something very close to the present economic system, just green, i.e. powered by electricity instead of fossil fuels.

And that is nonsense. In the same way that “fossil free” living is utter nonsense, but nevertheless it’s terms like that which are most prominent in headlines. Carbon neutral, carbon free, fossil free, those terms all describe fantasies; they are terms straight out of a PR campaign book. There’s even carbon negative. But who among the activists understand what this means? You got to be careful guys, because the way this is going, you will all end up being accomplices of the very people you should be protesting.

 

Here’s what going to happen (and already has), Greta and all of you Greta fans.

You’re getting to Davos and meet with all these rich people, and they all already have their plans ready. They’re going to tell you that they agree with just about everything you have to say. But they do and they don’t at the same time.

The fossil fuel industry, along with carmakers, governments et al, have solved the riddle: what appeared at first to be a huge threat to them, now turns out to be their next golden goose: they’re going to get paid more to move away from fossil fuels and emissions than they previously did to produce them. Pretty smart, right?

Only you will find out not even that is true. Do you know what an electric car produces in pollution, in CO2 emissions? I read the other day that an electric car has to drive 30,000-50,000 km a year over its “lifetime” to pollute less than a petrol one. Details are not terribly important there, it sounds kind of right. Unless you’re in Poland or certain parts of Germany or Eastern Europe, than it’s much higher still. Brown coal.

How did the rich and the worst polluters do it? How did they solve the riddle? By promoting Greta and the entire climate movement, with the help of the media they own, and then steering their priorities to be in line with their own. Piece of cake for them. They have been among the most powerful forces in western society forever, and it wasn’t too hard for them to figure this one out.

And that’s why these days, and increasingly as Davos has started (timing is everything), climate is a well advertized topic, and why the likes of BlackRock and Microsoft -and many others- just days ago announced that they will “go green”, divest out of fossil fuels etc.

 

They do this because they see a profit to be made. So don’t flatter yourselves, it has nothing to do with you. Or rather, it does, but not the way you thought and wanted. Your worst adversaries are using you for their promotion and advertizing platforms. The more banners you fly, the more words Greta utters, the more governments will make trillion dollar promises, ane the more Big Oil will make profits. Like this one today (just one example in fat growing long row):

UN Decarbonisation Target For Shipping To Cost Over $1 Trillion

At least $1 trillion of investment in new fuel technology is needed to enable the shipping industry to meet U.N. targets for cuts in carbon emissions by 2050, a study published on Monday showed. The global shipping fleet, which accounts for 2.2% of the world’s CO2 emissions, is under pressure to reduce those emissions and other pollution. About 90% of world trade is transported by sea.

A trillion euros for 2.2% of CO2 emissions. We can all do the math here, right?! And yes, Greta and her fellow schoolkids contributed a lot to that amount by seeking publicity, but also by being promoted by other interests. Only to become part of a giant publicity machine.

You see, Greta, the message the rich get is not that they must listen to you, it’s that others do listen who control a lot of money, individuals, governments, and so there will be money to be made if they just promote your ideas enough. You’ve been co-opted and pre-empted, so to speak. And what are you going to do now? You’re in cahoots, whether you like it or not, with the likes of Exxon, Shell, and Mercedes.

The oil companies have long rebranded themselves as energy companies (this started when BP’s logo turned green years ago) and invested billions in solar and wind turbines. The carmakers are betting big on electric vehicles. And this is supposed to achieve your goal of carbon neutrality? Let’s get real, shall we?

You’re way out of your league. You’re up against people who represent decades if not centuries-old interests, as well as -aspiring- politicians in every Parliament and even city counsel who know full well their careers will be nipped in the bud if they don’t go along with those interests. And then there’s 10,000 Middle East sheiks.

 

Davos is not your stage, Greta, and it’s not the stage for the people who believe in you. You’re betraying them by going there, because you have no control over the stage. Still, the other side really want you to think it is, the oil companies do, US and EU governments do, Mercedes and Toyota and Ford, do. Because you are their meal ticket.

They want you to believe that the problem that keeps you up at night can be solved with electric cars and solar panels and wind turbines. Because they have invested heavily in companies that produce all of those.

And now there’s a trillion here and a trillion there, because people listen to you. No government, no chosen official or appointed civil servant at any level, can anymore be forgiven for not budgeting heavily for climate change effects, even if they are ignorant about what those are.

 

The entire climate change issue is about energy, not about a duscussion of sources of energy. And as I argued late last year in Energy vs DNA and Energy vs Waste, mankind, like any other organism, is driven to use all surplus energy at its disposal as fast as it can. If only so other organisms can’t benefit from it, or even other humans.

And all energy use produces waste, not just fossil fuels. I suggest you read those. In the meantime, Greta, go home, enjoy the snow and the northern lights on your skin, have the youth you’re supposed to have, share your views with your friends, study study study and keep things in perspective. Your fans are not in Davos, but you are; that’s an ego-trip that will backfire on you because you’re being played for a fool.

Also, dump the PR teams; you’re bigger than that.

 

 

The Automatic Earth CAN explain energy. Keep up with us, support us on Paypal and Patreon.

 

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


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

 

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

 

 

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

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

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

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

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

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

Read more …

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

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

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

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

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

Read more …

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

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

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

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

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

Read more …

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

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

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

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

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

Read more …

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

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

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


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

Read more …

And then voted for the people who made it possible.

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

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


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

Read more …

Bolivia shares quite a few similarities with Ukraine.

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

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

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

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

Read more …

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

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

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


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

Read more …

A DNC investigation would seem timely.

Russiagate Investigation Now Endangers Obama (Zuesse)

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

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

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

Read more …

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

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

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


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

Read more …

How Washington celebrates New Year’s.

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

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

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

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

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

Read more …

 

Branch manager and assistant branch manager

 

 

 

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Sep 282019
 
 September 28, 2019  Posted by at 9:51 am Finance Tagged with: , , , , , , , , ,  13 Responses »


Paul Gauguin Harbour scene, Dieppe 1883

 

New Docs Contradict Biden Claim That Fired Ukrainian Prosecutor Was Corrupt (ZH)
Adam Schiff Epitomizes the Total Collapse of Democratic Party Integrity (PCR)
10 Reasons Democrats’ Impeachment Argument Is Falling Apart (Grabien)
Intel Community Secretly Nixed Whistleblower Demand of First-Hand Info (Fed.)
Pompeo Subpoenaed By House Democrats In Trump Impeachment Inquiry (BBC)
Everything the Press Gets Wrong about the Ukraine Call (Scott Adams)
A Dumpster Fire on a Garbage Barge (Kunstler)
Joseph Wilson, US Envoy Who Defied Bush Over Iraq, Dies Aged 69 (BBC)
White House Deliberates Block On All US Investments In China (CNBC)
Western Dominance Is On The Wane – Lavrov at UNGA (RT)
Establishment & Media Sympathize With Greta. So How Is That A Protest? (RT)
Assange Behind Bars (Felicity Ruby)

 

 

As I wrote yesterday: “John Solomon’s account is really important in the impeachment hearings.. And everything he says is documented.”

Solomon is the key figure here.

New Docs Contradict Biden Claim That Fired Ukrainian Prosecutor Was Corrupt (ZH)

Appearing on “Hannity” Thursday night, Solomon explained “These documents show, as I report tonight for the first time, that the very day that Joe Biden managed to get that Ukraine prosecutor fired, that very day his son’s company’s lawyers, the American company lawyers helping Burisma trying to fight this investigation were trying to urgently reach the new prosecutor, the replacement prosecutor.” “In that meeting, according to the official record from the prosecutor, the lawyers for Hunter Biden’s company stated to the replacement prosecutor, we know that the information calling Mr. Shokin was corrupt and was ‘False information distributed by U.S. Government officials and other figures. We would like to make this up to you by bringing you to Washington, you are not corrupt and you instigated numerous reforms.’ That is the official record of the meeting. Ukrainian prosecutors kept.” (via the Daily Caller). According to Solomon, the memos raise troubling questions (via The Hill):


1) If the Ukraine prosecutor’s firing involved only his alleged corruption and ineptitude, why did Burisma’s American legal team refer to those allegations as “false information?” 2) If the firing had nothing to do with the Burisma case, as Biden has adamantly claimed, why would Burisma’s American lawyers contact the replacement prosecutor within hours of the termination and urgently seek a meeting in Ukraine to discuss the case? What’s more, Ukrainian prosecutors attempted to get this information to the US Department of Justice (DOJ) since last summer – first unsuccessfully engaging a US attorney in New York who they say showed no interest, and then reaching out to Rudy Giuliani, President Trump’s attorney.

Read more …

Schiff was a disgrace in the House- again.

Adam Schiff Epitomizes the Total Collapse of Democratic Party Integrity (PCR)

US Rep. Adam Schiff, Democrat from California and chairman of the House Intelligence Committee, had no qualms about lying through his teeth in his opening statement prior to the testimony of Acting Director of National Intelligence Joseph Maguire. Everyone present had read the transcript of the telephone conversation between President Trump and Ukrainian President Zelensky, and everyone knew that what Schiff, who said he was reading from the transcript of the telephone call, was saying was not in the transcript. How can it be that the chairman of a House committee in a room full of newspersons and TV cameras has no qualms about intentionally misrepresenting the written record in order to make it conform to the lies the Democrats and their stable of corrupt presstitutes have spread about a telephone call revealed by an alleged whistleblower, a likely Democrat operative, who claimed to have heard it second hand.

When I was a member of the Congressional staff, any Representative who so dishonored a committee of the House and the House itself as Schiff has done would have been reprimanded, brought before the Ethics Committee, and forced to resign. But the Democrats have ground integrity under their heel in their fanatical determination to prevent Trump’s reelection. In his opening statement Adam Schiff further showed his total lack of integrity in his assault on the integrity and character of Joseph Maguire and made wild and irresponsible charges probably never witnessed previously in the halls of Congress.

The transcript of the telephone call shows that what the alleged whistleblower said is false. Yet in the face of the evidence Adam Schiff speaks as if the evidence does not exist and that the alleged whistleblower’s second hand statement is true. Once again we hear the Democratic Party say, “Evidence? We don’t need no stinkin’ evidence.” They don’t need evidence because the presstitutes support their lies and control the explanations given to Americans. The Democrats are betting their future on their lies being shielded by their media whores and that the insouciant American people will hear nothing but false allegations against Trump repeated endlessly, as was the case with Russiagate. If the people realize that the “impeachment investigation” is another hoax like Russiagate, Schiff will have destroyed the Democrats’ chances in the next election.

Read more …

Key feature: “..the Ukrainian delegation hadn’t even been made aware aid was held up until a month after the Trump call…”

10 Reasons Democrats’ Impeachment Argument Is Falling Apart (Grabien)

1. No quid pro quo. Despite Democrats’ initial claim, there was no quid pro quo. The call transcript shows the topic of aid only came up in reference to how well the U.S. treats Ukraine, particularly as compared to Euro nations, most specifically Germany. At no point does Trump threaten to withhold anything, as even some of Trump’s media critics conceded.

2. Ukrainians weren’t pressured. Democrats and the media have repeatedly insisted President Trump “acted like a mob boss” in applying pressure on President Volodymyr Zelensky. He, however, defended Trump, saying he felt no pressure. “ I think you read everything,” he told reporters in New York this week. “So I think you read text. I’m … I am sorry but I don’t want to be involved to democratic open, uh, hum… [..] .. elections of U.S.A. You’ve heard we had, um, I think good phone call. It was normal. We spoke about many things and I thought so. And I think and you read it that nobody push it, pushed me.”

3. Timeline. Politico’s Ken Vogel reported that the Ukrainian delegation hadn’t even been made aware aid was held up until a month after the Trump call. It’s hard to see they could feel they’re being “extorted,” as Democrats keep saying, if they weren’t even aware of the pressure supposedly being applied.

4. No Illicit Favors. When the White House released the call transcript, readers noticed that after some initial mutual flattery, Zeleznsky brings up buying more Javelin missiles; President Trump then asks for a favor and requests additional information into 2016 election meddling. Rep. Adam Schiff suggested Trump’s request for a “favor” actually referenced wanting dirt on Joe Biden, but Biden only comes up later in the conversation, and in a separate context. Nonetheless, the major media almost uniformly reported the “favor” line from Trump’s call in the same inaccurate fashion.

5. Whistleblower Complaint Lacks Credibility. This complaint, which Democrats for some reason insisted was more important than the call transcript itself, was basically a version of that original call that had been run through a game of telephone. The report had the basic story reasonably accurate, but then supplemented that synopsis with additional accumulated gossip. At least three key details in the complaint have since been shown to be false. As the document is itself a product of hearsay — the self-described whistleblower admits at the beginning of his report that he never witnessed anything — and the fact it contains demonstrable inaccuracies, its importance should certainly be subjugated to the call transcript itself. [..]

9. Rudy. It’s widely reported Rudy Giuliani was Trump’s go-to guy for actually carrying out this conspiracy. On his call, Trump told the Ukraine president to speak with Rudy (as well as AG Barr), about the investigation into an oil company on whose board sat Hunter Biden, the former vice president’s son. But Giuliani first communicated with his Ukrainian counterparts more than a year before Biden entered the race. Yes, it’s possible they anticipated Biden eventually entering the race; but it’s also possible Trump actually thought there might be legitimate corruption worthy of investigating. Giuliani tries to prove this point by noting the State Dept. was helping coordinate his communications.

Read more …

This is too much.

Intel Community Secretly Nixed Whistleblower Demand of First-Hand Info (Fed.)

Between May 2018 and August 2019, the intelligence community secretly eliminated a requirement that whistleblowers provide direct, first-hand knowledge of alleged wrongdoings. This raises questions about the intelligence community’s behavior regarding the August submission of a whistleblower complaint against President Donald Trump. The new complaint document no longer requires potential whistleblowers who wish to have their concerns expedited to Congress to have direct, first-hand knowledge of the alleged wrongdoing that they are reporting.

The brand new version of the whistleblower complaint form, which was not made public until after the transcript of Trump’s July 25 phone call with the Ukrainian president Volodymyr Zelensky and the complaint addressed to Congress were made public, eliminates the first-hand knowledge requirement and allows employees to file whistleblower complaints even if they have zero direct knowledge of underlying evidence and only “heard about [wrongdoing] from others.” The internal properties of the newly revised “Disclosure of Urgent Concern” form, which the intelligence community inspector general (ICIG) requires to be submitted under the Intelligence Community Whistleblower Protection Act (ICWPA), show that the document was uploaded on September 24, 2019, at 4:25 p.m., just days before the anti-Trump complaint was declassified and released to the public.

The markings on the document state that it was revised in August 2019, but no specific date of revision is disclosed. The complaint alleges that President Donald Trump broke the law during a phone call with the Ukrainian president. In his complaint, which was dated August 12, 2019, the complainant acknowledged he was “not a direct witness” to the wrongdoing he claims Trump committed. A previous version of the whistleblower complaint document, which the ICIG and DNI until recently provided to potential whistleblowers, declared that any complaint must contain only first-hand knowledge of alleged wrongdoing and that complaints that provide only hearsay, rumor, or gossip would be rejected.

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You start to feel pity for them.

Pompeo Subpoenaed By House Democrats In Trump Impeachment Inquiry (BBC)

US Secretary of State Mike Pompeo has been ordered by Democrats to turn over documents relating to the Trump administration’s dealings with Ukraine. In a letter, the heads of three House committees subpoenaed Mr Pompeo to produce the documents within a week. It is the latest move in rapidly escalating impeachment proceedings against President Donald Trump. He is being scrutinised for allegedly pressuring Ukraine’s president to investigate Democratic rival Joe Biden. In a separate development on Friday, the US special envoy for Ukraine negotiations, Kurt Volker, resigned, US media reported.


Mr Trump has denied putting any pressure on Ukrainian President Volodymyr Zelensky in a phone call in July, when Mr Biden was leading polls to win the Democratic nomination for the White House race in 2020. Mr Trump has alleged that Mr Biden pressed for the sacking of Ukrainian prosecutor Viktor Shokin in 2016 to protect a business that employed his son, Hunter Biden. Mr Biden did call for the sacking of Mr Shokin, even threatening to withhold $1bn (£813m) in aid to Ukraine.

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Everyone understands why the US president needs the room to move, and they’ll grant it to every single one. Except for Trump.

Everything the Press Gets Wrong about the Ukraine Call (Scott Adams)

We give our presidents a lot of flexibility in dealing with foreign affairs because it works better to have one “boss” in these situations. Had Trump permanently withheld funds approved by Congress, that would be a system problem on our end. But temporarily putting a hold on those funds before speaking leader-to-leader is just smart presidenting. It creates the impression that the president is the only American the foreign leader needs to deal with. That’s “setting the table.” Does it matter exactly what Trump was going to discuss, negotiate, or request? Nope. If the only thing Trump did on the phone call was congratulate President Zelensky on his election victory, it would still be smart to hold the funds until then.

We want our president to go into every conversation with foreign leaders fully armed, persuasion-wise. When Trump brings the full weight of the office with him, it sets the table for the current conversations, and every one after that. When Trump withholds funds, pulls out of a deal, or otherwise transfers power from Congress to himself, it makes him a more effective negotiator. It puts him in charge. It is a strong psychological advantage. Compare that approach to sending a president out weak, dependent on Congress to wipe his nose. Those are not similar table settings. Trump knows the difference. So does everyone who read his book, The Art of the The Deal.

We’ve heard Trump say he was concerned about corruption in Ukraine, and that was why he put a hold on the funds. I’m sure that was at least a part of his concern. Probably every American has that same concern about foreign aid in general. But as I said, it doesn’t matter what reason he gives the American public. Regardless of corruption in Ukraine, it was still smart to withhold funds until after the leaders spoke, because it made Trump the only person Zelensky needs to satisfy. That’s what we want from our presidents. We want them going in strong, with the full weight of their office and influence, to every interaction with foreign leaders, every time.

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“Their ongoing campaign to undo the 2016 election is igniting a civil war.”

A Dumpster Fire on a Garbage Barge (Kunstler)

Others have pointed out that the whistleblower’s complaint was composed as a legal brief, leading to the inference that it was constructed by lawyers and perhaps a team of lawyers. The whistleblower’s lawyer is Andrew Bakaj, a former CIA employee who got his start interning for Senator Chuck Schumer and then Hillary Clinton. The Washingtonian said Bakaj “actually wrote the CIA’s internal rules on whistleblowing.” Is that so? Did he write Form 401 then? His client’s complaint states: “I was not a direct witness to most of the events described. However, I found my colleagues’ accounts of these events to be credible because, in almost all cases, multiple officials recounted fact patterns that were consistent with one another.” In other words, second-hand information. Dismissed.

Everyone and his uncle remembers the infamous threat issued to Mr. Trump by Senator Schumer during the transition period in January, 2017: “Let me tell you: You take on the intelligence community — they have six ways from Sunday at getting back at you,” Perhaps Senator Schumer should have kept his pie-hole shut on that. He made it official that the Intel Community would act as an adversary and antagonist to the President, and that appears to be exactly what has happened. One suspects that this rogue agency has captured The New York Times, The Washington Post, National Public Radio, and several TV cable news networks as well. And now they are metamorphosing into an enemy of the people.

The moment approaches when Mr. Trump will have to carry out a severe housecleaning of the CIA and perhaps many other agencies under the executive branch of the government. Their ongoing campaign to undo the 2016 election is igniting a civil war. Clearly a part of the whistleblower gambit was an attempt to discredit Attorney General William Barr and set up a device that would force him to recuse himself from any further inquiry into shenanigans carried out in and around Ukraine since 2014, when the CIA and the Obama State Department overthrew the government of Viktor Yanukovych. Mr. Barr is a sturdy fellow. He may have seven ways from Sunday for countering their seditious monkeyshines. Wait for it.

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Literally lives destroyed by the Deep State.

Joseph Wilson, US Envoy Who Defied Bush Over Iraq, Dies Aged 69 (BBC)

The US diplomat Joseph Wilson, who defied President George W Bush over the decision to go to war with Iraq, has died aged 69. In 2003, Mr Wilson disproved allegations used by the Bush administration as grounds for invasion that then-Iraqi leader Saddam Hussein had bought uranium in Niger. Days later, his then-wife Valerie Plame was outed as a CIA agent, in what some saw as an act of political revenge. He and Ms Plame divorced in 2017. Ms Plame told the Washington Post that er ex-husband had died of organ failure in a hospice in New Mexico, where they both lived. In a career spanning three decades, Mr Wilson held numerous postings, mainly in Africa. As acting ambassador to Iraq in the run-up to the First Gulf War in 1991, he was the last US diplomat to meet Saddam Hussein.


In 2002, by then a private citizen, Mr Wilson was sent by the CIA on a fact-finding mission to Niger to investigate reports that Iraq had bought a nuclear material – uranium yellowcake. Mr Wilson concluded that the reports were false, but 11 months later they reappeared in Mr Bush’s State of the Union address. They were used as evidence that Iraq was obtaining weapons of mass destruction, and justification for the 2003 war. In July of that year, the former diplomat wrote in the New York Times: “I have little choice but to conclude that some of the intelligence related to Iraq’s nuclear weapons programme was twisted to exaggerate the Iraqi threat.”

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May not be all that practical. How about existing investments?

White House Deliberates Block On All US Investments In China (CNBC)

The White House is weighing some curbs on U.S. investments in China, a source familiar with the matter told CNBC. This discussion includes possibly blocking all U.S. financial investments in Chinese companies, the source said. It’s in the preliminary stages and nothing has been decided, the source said. There’s also no time frame for their implementation, the source added. Restricting financial investments in Chinese entities would be meant to protect U.S. investors from excessive risk due to lack of regulatory supervision, the source said. The deliberations come as the U.S. looks for additional levers of influence in trade talks, which resume on Oct. 10 in Washington.


Both countries slapped tariffs on billions of dollars worth of each other’s goods. The discussions also come as the Chinese government is taking steps to increase foreign access to its markets. Bloomberg News first reported earlier on Friday that Trump administration officials are considering ways to limit U.S. investors’ portfolio flows into China, including delisting Chinese companies from American stock exchanges and preventing U.S. government pension funds from investing in the Chinese market. Shares of Alibaba, Baidu and other Chinese companies plunged following the news. China’s yuan weakened to 7.15 against the dollar on the report.

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‘We’re liberals hence anything is permitted to us’”

Western Dominance Is On The Wane – Lavrov at UNGA (RT)

The West ignores reality by trying to prevent the formation of a multi-polar world by imposing its narrow “liberal” rules on others, Russia’s Foreign Minister Sergey Lavrov has told the UN General Assembly. Lavrov’s speech on Friday at the UN headquarters in New York focused on global challenges but, unlike some of the speakers, he didn’t mince words, proceeding into a full-on rebuke of the Western ideal of world order. New centers of economic growth and political influence are emerging internationally, he said, but the US and its allies are trying to impede the rise of the multi-polar world. In order to achieve this, they “impose the standards of conduct based on narrow Western interpretation of liberalism on others. In short, ‘We’re liberals hence anything is permitted to us’” was how he characterized this attitude.

“It’s hard for the West to accept that its centuries-long domination is diminishing.” “The West has been increasingly forgetting about international law and more often dwell on rules-based order.”

As opposed to this counterproductive approach, lasting solutions to global challenges should be founded “on the basis of the UN Charter, through the balance of interests of all states,” the Russian FM recommended. The top Russian diplomat also expressed hope that Moscow and Washington would agree on an extension of the New Strategic Arms Treaty (New START), which is set to expire in February 2021. All the suggestions that Russia has made to establish additional communication channels to work on the issue are still “on the table,” Lavrov said, as is Moscow’s most recent proposal for NATO to impose a mutual moratorium on the deployment of short- and mid-range missiles in Europe.

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Oh, jeez…: “The Guardian comparing her speech on Monday to Abraham Lincoln’s Gettysburg Address for its historical significance, and New York Magazine calling her “the Joan of Arc of climate change.”

Establishment & Media Sympathize With Greta. So How Is That A Protest? (RT)

As hundreds of thousands of people – many of them schoolchildren – take to the streets in another demonstration over climate change, one must wonder: at what point does protest become the status quo? Swedish climate activist Greta Thunberg’s solo school walkout last August was little more than a sideshow to newspaper editors and TV crews. But the teenage crusader’s ‘school strike’ snowballed, and the ‘Fridays for Future’ movement grew. Now, after an emotional speech by Thunberg at the UN Climate Action Summit on Monday, hundreds of thousands of climate strikers worldwide are packing the streets on Friday, demanding their governments declare a state of emergency, slash carbon emissions, penalize meat-eating and kill the car, to pick but a few of their proposals.

But these radicals – as they would have been called not so long ago – aren’t being met by the batons, tear gas and rubber bullets the state usually deploys to quash dissent (not that any peaceful demonstrations should be). Media outlets aren’t smearing those within their ranks as racists and downplaying attendance numbers, and the crowds occupying city streets aren’t risking injury and mutilation to do so. The very idea of ‘protest’ implies some resistance, some injustice of state to be overcome. Climate protesters would argue that not enough is being done to heal our heating earth – and that’s a debate beyond the scope of this article – but government, media, and the world’s power brokers have aided Thunberg and co’s protest movement at every step of the way.

France’s ‘Yellow Vests’ protests began in opposition to a fossil fuel tax hike, and were met with all of the violence described above on a weekly basis. Thunberg, in contrast, was invited to address the French parliament in July. Likewise with her appearances at the World Economic Forum in Davos earlier this year, her speeches before British parliament and the US Congress, and her most recent UN appearance. On every occasion, the world’s political leaders rolled out the red carpet and held the door open for her to lecture them. Media coverage of Thunberg and the climate protests has been overwhelmingly favorable – with The Guardian comparing her speech on Monday to Abraham Lincoln’s Gettysburg Address for its historical significance, and New York Magazine calling her “the Joan of Arc of climate change.” The Yellow Vests, to continue the comparison, were described as a rabble of anti-semites and “notorious Holocaust deniers,” based on the actions of a tiny minority of protesters.

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A visit to Belmarsh maximum-security prison. Hard to get through.

Assange Behind Bars (Felicity Ruby)

I have only ever known Julian Assange in detention. For nine years now, I have visited him in England bearing Australian news and solidarity. To Ellingham Hall I brought music and chocolate, to the Ecuadorian embassy I brought flannel shirts, Rake, Wizz Fizz and eucalyptus leaves, but to Belmarsh prison you can bring nothing—not a gift, not a book, not a piece of paper. Then I returned to Australia, a country so far away that has abandoned him in almost every respect.

Over the years I have learned to not ask, ‘How are you?’, because it’s bloody obvious how he is: detained, smeared, maligned, unfree, stuck—in ever-narrower, colder, darker and damper tunnels—pursued and punished for publishing. Over the years I’ve learned to not complain of the rain or remark on what a beautiful day it is, because he’s been inside for so long that a blizzard would be a blessing. I’ve also learned that it is not comforting but cruel to speak of sunsets, kookaburras, road trips; it’s not helpful to assure him that, like me and my dog, he will find animal tracks in the bush when he comes home, even though I think it almost every day.

It is the prolonged and intensifying nature of his confinement that hits me as I wait in the first line outside the front door of the brown-brick jail. At the visitor centre opposite I’ve been fingerprinted after showing two forms of proof of address and my passport. Sure to remove absolutely everything from my pockets, I’ve locked my bags, keeping only £20 to spend on chocolate and sandwiches. Despite the security theatre that follows, the money gets nicked at some point through no fewer than four passageways that are sealed from behind before the next door opens, a metal detector, being patted down and having my mouth and ears inspected. After putting our shoes back on, we visitors cross an outdoor area and are faced with the reality of the cage: grey steel-mesh fencing with razor wire that is about 4 metres high all around. I hurry into the next building before going into a room where thirty small tables are fixed to the floor, with one blue plastic chair facing three green plastic chairs at each.

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