Nov 132023
 
 November 13, 2023  Posted by at 9:10 am Finance Tagged with: , , , , , , , , ,  42 Responses »


Vincent van Gogh Vineyards with a View of Auvers 1890

 

The End of the Era of Justice (Paul Craig Roberts)
The Horror, The Horror (Chris Hedges)
The War According to Hamas (Chris Hedges)
Israel Seeks To Appoint Tony Blair As Gaza Humanitarian Coordinator (ToI)
‘Immoral’ US Warfare ‘Never Sought to Minimize Civilian Deaths’ (Sp.)
Zelensky May Be Ousted – Ex Presidential Aide (RT)
Former NATO Chief Suggests Ukraine Joins Bloc Without Lost Territory (TASS)
Ukraine Should Eye ‘Land-For-Peace’ Deal – Ex-NATO Admiral (Sp.)
The EU Praises Ukraine’s ‘Achievements,’ But They Are Laughable (Marsden)
The DC Establishment Thinks RFK Could Win, And They’re Panicking (Hill)
Trump Lawyers to Mount Counterattack in NY Civil Case (ET)
Trump’s Veterans Day Message Was Quite Different From Biden’s (ET)
Moody’s US Credit Warning Will Accelerate Dedollarization (Sp.)
EU Moves Forward With Digital ID Despite Security Concerns (AmG)

 

 

 

 

Alex Jones on RFK

 

 

 

 

Judaism

 

 

Or Joe Biden.

 

 

Pepe

 

 

The 40th Original Marathon in Athens yesterday was filled with Palestine flags.

 

 

 

 

“..if he had the opportunity to market Mar-a-Lago, it would be sold to someone with “net worths in the multiple billions,” the likes of Elon Musk, kings, emperors, and heads of state..”

The End of the Era of Justice (Paul Craig Roberts)

In the year 2023 Justice Is Nowhere to be Found in the Western World. Examples are numerous. I have written about the injustices inflicted on Julian Assange, Trump supporters, and those forced to submit to Covid “vaccination.” This time I will illustrate the point with the “fraud case” against Trump for allegedly overstating the value of his real estate holdings and with the entire world standing aside, the genocide of Palestinians under the rubric of Israel’s “self-defense.” The “fraud case” against Trump consists of an unsupported allegation against Trump by George Soros’ disciple NY attorney general Letitia James who is on record as a Trump-hater. It is not a trial. There is no jury. The staged proceeding is only for the judge to determine how big a fine Trump has to pay for allegedly–no proof is supplied, only Letitia’s accusation–overstating the value of his holdings.

The judge, Engoron, in my opinion, is indulging his publicly-avowed hatred of Trump. It is the judge who should be indicted and placed on trial. He is guilty of ignoring an appellate court’s ruling that set a statute of limitations on the case. He granted a summary judgment against Trump of $250,000,000 before the process of determining Trump’s fine began. Engoron and his staff are hardcore Democrats. They have made political contributions to the Democrat Party that are against the rules of conduct for judges and their law clerks. Additionally, the biased judge has ruled against Trump’s ability to speak his mind and has prevented Trump’s attorneys from pointing out the ridiculous nature of the charges. The charge that Trump overstated the value of his real estate holdings is only the unsupported opinion of the biased Trump-hater Letitia James who claims that New York State was damaged by Trump’s alleged overstatement of the value of his holdings.

The judge, who has no qualification as a real estate appraiser, says Trump’s Mar-a-Lago is only worth $18 million. Forbes magazine gives it a minimum value of $350,000,000. Neither New York nor anyone suffered from the alleged and unsupported claim that Trump overstated the value of his holdings. As US Representative Elise Stefanik stated in her ethics compliant filed against judge Engoron in New York, “no evidence was presented on trial to suggest fraud, and in fact material evidence suggested the opposite.” “The defendant paid back the sophisticated Wall Street banks, on time, in full, with interest, as agreed. No insurance company paid a penny. And these banks and insurance companies, allegedly defrauded, continue to do business with the defendant.” “Indeed, two banks had done their own analyses of President Trump’s net worth, as revealed in testimonies, and for some development projects the bank had courted President Trump’s business, not the other way around.”

Trump Organization had valued Mar-a-Lago between $426 million and $612 million in these statements, while Ms. James and the judge valued it at $18 million to $27.6 million, prompting ridicule from prominent real estate brokers who regarded the Trump-hating judge’s claim as “ludicrous.” The judge, who declared Trump to be “a bad man” dismissed from the record exculpatory evidence for Trump in the form of a sworn affidavit from Lawrence Moens, the top Palm Beach luxury broker, who said if he had the opportunity to market Mar-a-Lago, it would be sold to someone with “net worths in the multiple billions,” the likes of Elon Musk, kings, emperors, and heads of state. Engoron called the statement an “unsubstantiated dream,” but admitted testimony from someone on the attorney general’s side who helped come up with the $250 million disgorgement figure, suggesting banks lost out on more than $100 million in interest because the financial statements were inflated. THIS IS ONLY THE JUDGE’S AND LETITIA’S CLAIM, NOT THE BANKS’ CLAIM. THERE ARE NO INJURED PARTIES.

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“Israel and the United States are sending a chilling message to the rest of the world. International and humanitarian law, including the Geneva Convention, are meaningless pieces of paper..”

The Horror, The Horror (Chris Hedges)

DOHA, Qatar: I am in the studio of Al Jazeera’s Arabic service watching a live feed from Gaza City. The Al Jazeera reporter in northern Gaza, because of the intense Israeli shelling, was forced to evacuate to southern Gaza. He left his camera behind. He trained it on Al-Shifa hospital, Gaza’s largest medical complex. It is night. Israeli tanks fire directly towards the hospital compound. Long horizontal red flashes. A deliberate attack on a hospital. A deliberate war crime. A deliberate massacre of the most helpless civilians, including the very sick and infants. Then the feed goes dead. We sit in front of the monitors. We are silent. We know what this means. No power. No water. No internet. No medical supplies. Every infant in an incubator will die. Every dialysis patient will die. Everyone in the intensive care unit will die. Everyone who needs oxygen will die.

Everyone who needs emergency surgery will die. And what will happen to the 50,000 people who, driven from their homes by the relentless bombing, have taken refuge on the hospital grounds? We know the answer to that as well. Many of them, too, will die. There are no words to express what we are witnessing. In the five weeks of horror this is one of the pinnacles of horror. The indifference of Europe is bad enough. The active complicity by the United States is unfathomable. Nothing justifies this. Nothing. And Joe Biden will go down in history as an accomplice to genocide. May the ghosts of the thousands of children he has participated in murdering haunt him for the rest of his life. Israel and the United States are sending a chilling message to the rest of the world. International and humanitarian law, including the Geneva Convention, are meaningless pieces of paper.

They did not apply in Iraq. They do not apply in Gaza. We will pulverize your neighborhoods and cities with bombs and missiles. We will wantonly murder your women, children, elderly and sick. We will set up blockades to engineer starvation and the spread of infectious diseases. You, the “lesser breeds” of the earth, do not matter. To us you are vermin to be extinguished. We have everything. If you try and take any of it away from us, we will kill you. And we will never be held accountable. We are not hated for our values. We are hated because we have no values. We are hated because rules only apply to others. Not to us. We are hated because we have arrogated to ourselves the right to carry out indiscriminate slaughter. We are hated because we are heartless and cruel. We are hated because we are hypocrites, talking about protecting civilians, the rule of law and humanitarianism while extinguishing the lives of hundreds of people in Gaza a day, including 160 children.

[..] Israel and Washington’s cynicism is breathtaking. There are no differences in intent. Washington only wants it done quickly. Humanitarian corridors? Pauses in the shelling? These are vehicles to facilitate the total depopulation of northern Gaza. The handful of aid trucks allowed through the border at Rafah with Egypt? A public relations gimmick. There is only one goal – kill, kill, kill. The faster the better. All Biden officials talk about is what comes next once Israel has finished its decimation of Gaza. They know Israel’s slaughter will not end until Gazans are living in the open without shelter in the southern part of the strip and dying because of a lack of food, water and medical care.

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“We are far more capable of bearing the costs, so there is no need to compare or be alarmed by the magnitude of the numbers..”

The War According to Hamas (Chris Hedges)

Basel al-Araj, a Palestinian resistance leader, shortly before Israel’s 2014 invasion of Gaza, laid down the fundamental rules for warfare against the Israel. The rules by al-Araj, not a member of Hamas, provide the Palestinian lens for the incursion by Israeli forces in Gaza. While Israel’s superior firepower — its air force, missiles, tanks, armored personnel carriers, drones, naval forces, mechanized units and artillery — make it possible to inflict huge numbers of Palestinian casualties, most of them civilians, while Israel can level whole neighborhoods and turn hospitals, schools, power stations, water treatment plants, bakeries, mosques and churches into piles of concrete, this does not translate into a defeat of the Palestinian resistance groups.

Al-Araj argued that the fight with Israel cannot be measured with body counts. The Israelis will be able to kill far greater numbers of Palestinians. Resistant movements, he wrote, always suffer disproportionate losses. In the independence war in Algeria, between 1954 and 1962, upwards of 1.5 million Algerians — or around 10 percent of the population — were killed by the French. In the airport in Algiers, the country’s capital, is a huge sign that reads: “Welcome to Algeria. Land of a million Martyrs.” “We are far more capable of bearing the costs, so there is no need to compare or be alarmed by the magnitude of the numbers,” he wrote. Al-Araj, who led hunger strikes while in Palestine Authority prisons, was long a target for Israel. Israel’s counter-terrorism unit, Yamam, pursued him for months before raiding his home on March 6, 2017 in el-Bireh. After a two-hour gun battle, Israeli forces, which fired rockets into the building, burst inside and executed him at close range. He was 31.

The fight with Israel, al-Araj reminded Palestinians, must “follow the logic of guerrilla warfare or hybrid warfare, which Arabs and Muslims have become masters of through our experiences in Afghanistan, Iraq, Lebanon, and Gaza.” Never defend “fixed points and borders.” Draw the enemy into an ambush, accomplished by light resistance and tactical withdrawals. Strike the flanks and the rear. The calculus of asymmetric warfare is very different from conventional war. And what Israel defines as success, including the seizing of territory, numerous deaths and the destruction of infrastructure and buildings, matters little to the resistance fighter.The goal of Palestinian fighters is to remain elusive, to carry out lightning strikes and recede back into the rubble or the vast tunnel network under Gaza.

[..] Israel has banned the foreign press from reporting from Gaza. It has killed over 40 Palestinian journalists and media workers. It also has instituted prolonged blockages of the internet and cell phone service. No doubt, this heavy handed censorship is done to limit the horrific images of civilian casualties. But I suspect it is also intended to block images of a ground offensive that is tougher, more protracted and more costly than Israel anticipated. Israel invests tremendous resources in its propaganda campaign, getting networks such as CNN to repeat back its talking points. Jake Tapper should be an honorary Israeli Defense Forces (IDF) spokesman. Al-Araj warned about the attempt by Israel to demoralize fighters by posting photos and videos of Israelis occupying landmarks and public spaces.

A video being shared on social media shows the raising of the Israeli flag on a beach in Gaza. A group of soldiers surround the flag and sing the Israeli national anthem. In October last year, Jewish settlers occupied the Ibrahimi mosque in the West Bank town of Hebron, where a Jewish settler, Barach Goldstein, gunned down 29 Palestinians in 1994 as they prayed. The settlers held a music festival and dance party in the mosque. They hung an Israeli flag from the roof. Videos have circulated that denigrate and ridicule Palestinians.

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The Undertaker.

Israel Seeks To Appoint Tony Blair As Gaza Humanitarian Coordinator (ToI)

Israel is seeking to install former British prime minister Tony Blair as a humanitarian coordinator for the Gaza Strip, according to a report Sunday, out of a desire to improve the humanitarian situation inside the Palestinian enclave and reduce international pressure as it continues to wage its war on Hamas. The Ynet news outlet, citing unnamed senior officials, said Prime Minister Benjamin Netanyahu hopes to leverage Blair’s experience as former envoy to the region for the Middle East Quartet to temper international concerns over the civilian cost of Israel’s campaign in Gaza. The report indicated Blair has been contacted on the matter and talks have been ongoing in recent weeks. The former British leader’s office told Ynet in response that “he has not been given or offered a position,” but did not directly deny any contact.

Ynet said the exact definition, scope and authority of the proposed role had not yet been clearly defined, adding that there would be an emphasis on “providing medical treatment and medicines, and on the possibility of evacuating the wounded and sick from the Strip.” According to the report, efforts at easing the humanitarian situation in Gaza are being coordinated by Israel’s health and defense ministries, with the former assisting in a number of projects in recent weeks, including efforts by international actors to set up field hospitals in Egypt and the arrival of a hospital ship from France. The Defense Ministry and the IDF also understand that in order to obtain time for the war against Hamas, the military’s actions in Gaza need to be seen as legitimate, and that legitimacy is conditional on the humanitarian situation.

[..] Blair’s office said in a statement to Ynet that “Mr. Blair maintains an office in Israel and he continues to work on matters tied to Israel and the Palestinians. Understandably, he has conversations with people in the region and other places in order to see what can be done, but he was not given or offered the role.” Blair served as British premier from 1997 to 2007 and as envoy for the Quartet from 2007 to 2015. The Middle East Quartet consists of the United Nations, the European Union, the United States and Russia, and was established to help mediate Israeli-Palestinian peace negotiations. It has been largely inactive in recent years, as Western relations with Russia have soured. On October 11, Blair, who is a longtime member of Labour Friends of Israel, released a statement condemning Hamas’s brutal onslaught in southern Israel, and calling for change.

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“..Washington is “turning the entire planet into an armed madhouse” using taxpayers’ dollars.”

‘Immoral’ US Warfare ‘Never Sought to Minimize Civilian Deaths’ (Sp.)

Throughout its history, the United States has never allowed concerns about the civilian death toll to impact its warfare strategy, and current developments in Gaza are yet another glaring example of this, scholar, educator and journalist K.J. Noh told Sputnik. “The fundamental immorality of US warfare… is that it has never sought to minimize the deaths of civilians. We know that US wars recently have been somewhere in the range of 90 percent civilian deaths,” the scholar underscored. Recalling US doctrine implemented in countries like Korea, Vietnam, and elsewhere, it has been “simply to kill anything that moves. You create a free fire zone, you kill anything that moves, and the murder is indiscriminate,” the pundit said. Afterwards, they may use mainstream media to “paste it over” with “PR means and releases.”

Whether it is fuelling weapons to fuel the NATO proxy war against Russia in Ukraine, or sending military assistance to Israel in its fight against Hamas, “fundamentally, the business of the US is war,” K.J. Noh emphasized. “You know, the US is number one supplier of arms to the world. It’s 40 percent of all arms sales… and it sells them to quisling governments and to governments that are involved in the Pacific pivot – this escalation to war against China,” underscored the scholar, adding that Washington is “turning the entire planet into an armed madhouse” using taxpayers’ dollars.

[..] After the Biden administration asked for an additional $14 billion for Israel from Congress, Washington committed to delivering to Tel Aviv Iron Dome air defense missiles, small diameter bombs and Joint Direct Attack Munition (JDAM) kits, besides the earlier agreed weapons deals, as per US media reports. At the same time, unlike the case with Ukraine, National Security Council spokesperson John Kirby acknowledged that Washington’s military supplies to Israel were shrouded in secrecy. During an October 23 press briefing, Kirby said that “We’re being careful not to quantify or get into too much detail about what they’re getting — for their own operational security purposes, of course.” “Transparency in war is largely an illusion or at best, selective. You know, war is always deception. Both the published lists and the unpublished lists. The published lists are designed to intimidate, or message, or signal, or posture. And the unpublished lists are… often hiding dirty criminal tactics.”

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Because he refuses to talk.

Zelensky May Be Ousted – Ex Presidential Aide (RT)

Ukrainian President Vladimir Zelensky’s unwillingness to consider peace talks with Russia might lead him to being ousted to make such negotiations possible, Oleg Soskin, an adviser to two former Ukrainian presidents, said on Saturday. Zelensky, who continues to maintain that victory should be achieved on the battlefield, simply “cannot” enter peace talks with Moscow, Soskin said on his YouTube channel. Such actions, he believes, are pushing Russia and at least some of Ukraine’s Western backers to think that they need someone else to represent Kiev who can “agree on even a temporary truce.” In order to achieve that, the current Ukrainian leadership needs to be “neutralized,” the former presidential aide added.

The idea of peace talks between Russia and Ukraine has become a “prevalent narrative” not only in Russia but in the West as well, Soskin suggested. He noted that French President Emmanuel Macron and Italian Prime Minister Giorgia Meloni expressed such ideas not so long ago. Macron told the BBC in an interview this week that although it was France’s “duty” to support Kiev the time might have come for some “fair and good negotiations” with Russia. Meloni recently told a pair of Russian pranksters, Vovan and Lexus, that “there is a lot of fatigue” in the EU over the conflict. “We are near the moment in which everybody understands that we need a way out,” she added at that time.

Soskin, a renowned economist who was the deputy head of the Institute of the World Economics and International Relations of the Ukrainian Academy of Sciences in the 1990s, said that the EU would also be potentially unable to satisfy Kiev’s needs for military equipment and ammunition, particularly if US military aid decreases. The former official served as a senior adviser to Ukraine’s first president, Leonid Kravchuk, in the early 1990s and was later an economic adviser to the nation’s second leader, Leonid Kuchma, between 1998 and 2000. Kiev has repeatedly ruled out any talks with Moscow and demands a complete withdrawal of Russian troops from all territories Ukraine claims as its own. Zelensky reiterated this demand in an interview with Reuters this week, adding that Kiev would continue the fight even without US aid if need be.

He also denied media reports about Ukraine’s Western backers allegedly encouraging it to engage in peace negotiations with Moscow. “This is not going to happen,” he said last week. Russia has repeatedly signaled its readiness to engage in negotiations with Kiev but has insisted that such talks should take Moscow’s security interests and the “reality on the ground” into account. In the autumn of 2022, four former Ukrainian territories – including the two Donbass republics – officially joined Russia, following a series of referendums. Kiev declared the votes a “sham” and has sought to reclaim control over the four territories, as well as Crimea, which joined Russia in 2014 following another referendum.

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Two ex-NATO guys both apparently want more war with Russia.

“We need a new European security architecture in which Ukraine is in the heart of NATO.”

Former NATO Chief Suggests Ukraine Joins Bloc Without Lost Territory (TASS)

Former NATO Secretary General Anders Fogh Rasmussen said NATO should invite Ukraine to join the alliance without the territories it no longer controls, according to an interview published by the Guardian. “The time has come to take the next step and extend an invitation for Ukraine to join NATO,” he told the Guardian. “We need a new European security architecture in which Ukraine is in the heart of NATO.” “The absolute credibility of Article 5 guarantees would deter Russia from mounting attacks inside the Ukrainian territory inside NATO and so free up Ukrainian forces to go to the frontline,” said Rasmussen, who headed the bloc from 2009-2014.

He said the alliance would have to send a “clear message to Russia that any violation of NATO territory would be met by a response.” He added that in some ways the proposal is similar to imposing a no-fly zone over Ukrainian territory. Rasmussen insisted that the move would not freeze the conflict or force Ukraine to cede territory to Russia. The Guardian said Rasmussen worked alongside Andrey Yermak, the chief of staff of the Ukrainian presidency, ahead of the last NATO summit in Vilnius this year that ended with no invitation for Ukraine to join.

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“..As for obtaining security guarantees, that would mean NATO membership for Ukraine, James Stavridis argued..”

Ukraine Should Eye ‘Land-For-Peace’ Deal – Ex-NATO Admiral (Sp.)

As Kiev seeks to revitalize its failed counteroffensive against the backdrop of increasing “Ukraine fatigue” in the West, Moscow has repeatedly urged the regime to understand that despite promising military successes to its NATO donors, achieving them is growing ever more elusive. Ukraine should hope for a “land-for-peace conclusion to combat,” retired US Admiral and former NATO Supreme Allied Commander James Stavridis has argued. After the Kiev regime’s much-heralded counteroffensive failed, even the delivery of F-16 fighter jets – promised sometime next year – is not likely to pull off a “real game change,” Stavridis wrote for Bloomberg. He urged Ukraine to resign itself to the fact that it will not manage to seize the new Russian territories, such as the Donetsk and Lugansk People’s Republics or the Kherson and Zaporozhye regions.

Accordingly, the former commander drew parallels with the outcome of the Korean War, which ended with an armistice in 1953, and suggested that Ukraine should aim for the “South Korean scenario” as its best bet. “This will probably bog down into a frozen conflict; the sooner large combat operations stop, the sooner the Ukrainians will begin to reconstruct,” Stavridis wrote, and laid out his vision of what steps Kiev ought to aim for: “So three lessons of Korea pertain for Ukraine: find the funds for reconstruction as rapidly as possible; construct real and enduring security guarantees; and be willing to negotiate a land-for-peace conclusion to combat.” “That is a realistic scenario,” claimed Stavridis. According to Stavridis, Western firms are already eying staking out their claims to “postwar construction activities in Ukraine,” in such aspects as “mass communications, electric power facilities, water treatment and new residential development.”

And as to where the money for all of that would come from, the ex-general had a ready answer: “the potential availability of hundreds of billions of dollars in Russian funds that are under sanction in the West.” The overall value of frozen Russian sovereign assets in Europe since the Ukraine conflict escalated is estimated at 211 billion euros ($223 billion). While Brussels has repeatedly warned it intends to tap into these assets for the benefit of Ukraine, the bloc has so far failed to invent a legal mechanism for doing so. Pundits interviewed by Sputnik have explained that this is nothing but “wishful thinking,” adding that “it would be a sheer violation of property rights.” Nevertheless, the ex-commander waxed lyrical in his article, enthusing that a “Korean-style miracle of reconstruction” could be “on the horizon for Ukraine.”

As for obtaining security guarantees, that would mean NATO membership for Ukraine, James Stavridis argued, yet again citing the example of South Korea, which holds Major Non-NATO Ally status with the US.

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“..You’d think that the EU might want to at least wait for an improvement in the public sentiment among Ukrainians..”

The EU Praises Ukraine’s ‘Achievements,’ But They Are Laughable (Marsden)

The European Commission just released a report card for countries seeking to join the European Union. And while Türkiye has been waiting on the sidelines for years, it now finds itself criticized and moving further away from accession for its unwillingness to drink on command the Kool-Aid that Brussels doles out. Meanwhile, Ukraine is getting kudos for achieving the political equivalent of basic potty training – and even those achievements are debatable. “Ukraine has completed … well over 90% of the necessary steps that we set out last year in our report,” said European Commission President Ursula von der Leyen. What kind of dodgy bell curve grading is that? There’s a term for what the EU is doing here. It’s called stringing someone along – in this case, with a participation trophy for effort. Ukraine and other countries, like Moldova and Georgia, want into the bloc.

But the EU can barely afford to run what it has now, particularly with Germany and France – its economic engines – struggling from the EU’s own anti-Russian sanctions blowback on industry. Forget committing outright to taking on any more clown acts. So the European Commission is now issuing these condescending report cards, saying that Ukraine has met four of the seven pre-conditions, not for joining the bloc, but for just opening negotiations. Kiev still needs to de-corrupt, presumably to be more aligned with the rest of the EU’s corruption level, it’s being told – which let’s face it, is a pretty low bar. It also needs to de-oligarchize (because Europe only has one Queen, and that’s Ursula herself). It also needs to learn to play nice with minorities and respect their basic rights – like a preschooler needs to be told to do.

So what did Kiev do right, according to Brussels? It has “established a transparent pre-selection system for the Constitutional Court judges and reformed the judicial governance bodies,” the report says. But just last month, Reuters reported that Kiev was on a hiring spree of 2,000 judges amid a “huge shortfall” and EU pressure. Doesn’t sound like the situation is too stable, or resolved. Sounds instead like it’s cramming for an exam or rushing to be able to just tick a box. Granted, there has been a corruption crackdown documented by the mainstream media over the past several months, including the dismissal of the Supreme Court Chief Justice, but when corruption is so systemic and public trust in the judiciary is estimated to be in the single to low double digits, where’s the concrete proof that the new players are a substantial improvement over the old ones? You’d think that the EU might want to at least wait for an improvement in the public sentiment among Ukrainians before giving its stamp of approval.

“Ukraine has taken positive steps in a wider and systemic effort to address the influence of oligarchs,” the report concludes. But is that really the result of a deliberate cleanup – or just due to circumstances? The Wilson Center has detailed how “war was making an impact on the Ukrainian oligarchy by physically destroying the oligarch-owned industrial complexes.” Some oligarchs have fled Ukraine for places like the South of France, as Le Monde has reported. Does it count for Brussels as “de-oligarchization” efforts if Ukrainian oligarchs have fled to Europe with their considerable assets? Seems like perhaps Kiev is pulling the escalator up by the handrail on this particular “achievement” attributed to it.

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I think RFK has had his peak.

The DC Establishment Thinks RFK Could Win, And They’re Panicking (Hill)

Making the rounds of opinion-influencer social media and politically oriented podcasts over the last week to gauge the current state of the presidential race, one could be excused for believing that no great shake-up had occurred. In Trump World, all the discussion was about the former president’s highly politicized civil fraud trial in New York and how it would backfire by making Trump a more formidable candidate. Meanwhile, left-leaning outlets were hyping GOP dysfunction in the House and the Republican losses in the off-year elections as an early indicator that Biden will fare better than expected next November. But one development that sent shock waves through the entire class of paid political consultants inside the Beltway went almost unmentioned publicly.

A topic of constant discussion and not a little bit of anxiety on both sides was the extraordinarily strong showing of third-party candidate Robert F. Kennedy Jr. in two recent national polls. Both of the polls showed Kennedy leading both President Biden and former President Trump among the key electoral demographics of independent voters and voters under 45 years of age. Just how disturbing is this development for the uni-party establishment in Washington? Disturbing enough that the New York Times ran a brief story essentially dismissing its own poll results under the interpretive headline, “What’s Behind Kennedy’s Poll Numbers? Voters Dread a Trump-Biden Rematch.” The piece reads almost as a parody of a damage-control exercise.

It included the remarkable disclaimer that the poll of six key presidential battleground states, which found RFK the choice of nearly a quarter of those polled in a three-way matchup with Biden and Trump, “almost surely inflates the support of Mr. Kennedy.” But the argument does not bear scrutiny that Kennedy’s remarkably strong showing is merely a function of dissatisfaction with the prospect of a Biden-Trump rematch. His fundraising haul for the third quarter, $8.7 million, demonstrates robust support for his candidacy, not just dissatisfaction with other choices. Significantly, Kennedy raised millions of dollars from people who didn’t donate at all in the last two presidential elections, a sign that he’s activating new voters. Remarkably, he maintains a 19 percent favorability lead with voters over both Biden and Trump — this despite a concerted effort by almost every mainstream media outlet to dismiss him as a conspiracy theorist and crank.

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“..seeking to block testimony from four expert witnesses set to take the stand during the defense phase. Their testimony would address the accuracy of valuations contained in statements of financial condition submitted to Deutsche Bank and other firms for the purpose of securing favorable terms for loans and insurance. In the view of the attorney general’s office, such testimony is beside the point given that the judge has already ruled that Trump is guilty of fraud.“

Trump Lawyers to Mount Counterattack in NY Civil Case (ET)

The media and public should brace themselves for the most heated phase of the civil fraud trial of former President Donald Trump when courtroom proceedings resume on Nov. 13—if past interactions among the defense, the judge, and government lawyers are any indication. The defense will begin to make its case on behalf of the 45th president and 2024 candidate, as well as his two sons and daughter, who are no longer defendants in the case yet have faced relentless and acrimonious cross-examination on the witness stand over the past two weeks. President Trump’s eldest son, Donald Trump Jr., is expected to be the first to testify for the defense. Trump lawyer Christopher Kise and Judge Arthur Engoron feuded throughout the cross-examination of President Trump, Donald Trump Jr., Eric Trump, and Ivanka Trump.

The defense attorney has objected constantly, saying that questions posed were irrelevant to the legal issues at hand or that no one could reasonably expect the people on the stand to recall the details of documents, records, meetings, and conversations from as far back as 2012. As if to add further contentiousness to the proceedings, New York Attorney General Letitia James’s office on Nov. 8 sent a letter to Judge Engoron seeking to block testimony from four expert witnesses set to take the stand during the defense phase. Their testimony would address the accuracy of valuations contained in statements of financial condition submitted to Deutsche Bank and other firms for the purpose of securing favorable terms for loans and insurance. In the view of the attorney general’s office, such testimony is beside the point given that the judge has already ruled that Trump is guilty of fraud.

Nor has the pro-Trump side been inactive during the run-up to the next phase of the trial. On Nov. 10, Rep. Elise Stefanik (R-N.Y.) sent a lengthy letter to the New York State Commission on Judicial Conduct, spelling out a litany of complaints about how Judge Engoron has conducted himself and his alleged bias against the respondents in the lawsuit “This judge’s bizarre behavior has no place in our judicial system, where Judge Engoron is not honoring the defendant’s rights to due process and a fair trial. These serious concerns are exacerbated by the fact that the defendant is the leading candidate for President of the United States, and it appears the judicial system is being politicized to affect the outcome of the campaign,” Ms. Stefanik wrote. She then cited the judge’s reference to the former president as “just a bad guy” deserving of prosecution by the attorney general, and his blunt statement to President Trump that “we are not here to listen to what you have to say.”

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“..we pledge to you that we will root out the communists, Marxists, fascists, and radical left thugs that live like vermin within the confines of our country.”

Trump’s Veterans Day Message Was Quite Different From Biden’s (ET)

President Joe Biden and former President Donald Trump released differing messages on Nov. 11, Veterans Day. “Today, we honor the story of our veterans—the story of our nation at its best,” President Biden wrote on X, formerly known as Twitter. “On Veterans Day, let’s recommit to fulfilling our one sacred obligation as a nation: to prepare those we send into harm’s way and care for them and their families when they come home.” In a Veterans Day speech at the Memorial Amphitheater in Arlington National Cemetery, he highlighted “those who have always, always kept the light of liberty shining bright across the world,” while making reference to his late son, Beau, who was deployed to Iraq about 15 years ago.

“We come together today to once again honor the generations of Americans who stood on the front lines of freedom. … to once again bear witness to the great deeds of a noble few who risked everything, everything, to give us a better future,” President Biden said. During the event, the president was joined by First Lady Jill Biden, Vice President Kamala Harris, second gentleman Douglas Emhoff, and several members of his Cabinet. On Nov. 11, President Biden announced that military veterans who were exposed to toxins could be able to enroll in no-cost health care starting next year.

President Trump marked Veterans Day with a message on his Truth Social social media platform that read, “To our heroic veterans, I am grateful for your service to our country and honored to wish you a Happy Veterans Day.” He added that there’s “no greater act of selfless service than defending America’s God-given freedoms and liberty.” Hours later, he wrote a message on the platform noting, “[In] honor of our great veterans on Veterans Day, we pledge to you that we will root out the communists, Marxists, fascists, and radical left thugs that live like vermin within the confines of our country.” They will “do anything possible, whether legally or illegally, to destroy America, and the American dream,” wrote President Trump, who was later seen at a UFC fight in New York on Nov. 11. “The threat from outside forces is far less sinister, dangerous, and grave, than the threat from within,” he wrote. “Despite the hatred and anger of the radical left lunatics who want to destroy our country, we will make America great again!”

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The US is set to start paying over $1 trillion in interest on its debt this year.

Moody’s US Credit Warning Will Accelerate Dedollarization (Sp.)

The New York City-headquartered credit rating giant lowered its outlook of America’s creditworthiness from “stable” to “negative” on Friday, citing the country’s worsening fiscal position. Sputnik reached out to veteran economist and macroeconomics specialist Dr. Sergio Rossi for his take on the implications of Moody’s move. The White House slammed Moody’s over its threat to downgrade the US’s credit rating, with press spokeswoman Karine Jean-Pierre suggesting that the worsening outlook was “yet another consequence of congressional Republican extremism and dysfunction.” Deputy Treasury Secretary Wally Adeyemo also challenged the decision, emphasizing that “while the statement by Moody’s maintains the United States’ AAA rating, we disagree with the shift to a negative outlook.

The American economy remains strong, and Treasury securities are the world’s preeminent safe and liquid asset,” Adeyemo assured in a statement. “The Biden administration has demonstrated its commitment to fiscal sustainability, including through the more than $1 trillion in deficit reduction included in the June debt limit deal as well as President Biden’s budget proposals that would reduce the deficit by nearly $2.5 trillion over the next decade,” the deputy Treasury chief added. Moody’s decision came just hours after Treasury Secretary Janet Yellen’s meetings with Chinese counterpart He Lifeng in San Francisco on Friday ahead of the upcoming Asia-Pacific Economic Cooperation summit this coming week. Yellen, who assured recently that Washington could “certainly afford” to keep pumping tens of billions in taxpayer money to conflicts in Ukraine and Israel, has yet to comment on Moody’s decision.

Moody’s is the last of the big three international credit agencies signaling the possible downgrade of the US’s rating, with Standard and Poor’s already doing so in 2011, citing political polarization after what was then the latest debt ceiling showdown. Fitch downgraded the US to an AA+ rating in August, citing an “expected fiscal deterioration over the next three years,” and the last-minute debt deal reached in June, when the country again teetered on the brink of defaulting on its close to $33 trillion national debt. Yellen “strongly disagreed” with that decision, suggesting it was based on “outdated data.” Sovereign credit ratings are designed to evaluate risks associated with lending money to a country, but also offer signals to financiers on the potential risks involved with investing into a country. The worse the rating, the worse the risk is perceived to be. Moody’s lowest possible rating is a C, which signals that the borrower is in default of some or all of its financial obligations.

The outlook downgrade comes as Washington heads for another shutdown deadline on November 17, with Republicans in the House of Representatives tabling a bill to continue funding the government without new appropriations for Ukraine or Israel. The White House has blasted the stopgap funding bill as an “extreme” and “unserious” proposal, with Jean-Pierre calling it “a recipe for more Republican chaos and more shutdowns – full stop.” Just how “unserious” the House proposal is will be seen this week as lawmakers negotiate to get the stopgap funding through, with recently picked House Speaker Mike Johnson seemingly unlikely to back down on Ukraine after his predecessor, Kevin McCarthy, was ousted from the job in October over allegations of proposing “secret side deals” for additional Ukraine cash.

The Moody’s outlook shift, combined with the seemingly never-ending shutdown crisis, inflation, the fallout of the conflicts in Ukraine and the Middle East, and the growing signs of a looming US recession, are all bad news for Washington and the West in general, says Dr. Sergio Rossi, a professor of macroeconomics and monetary policy at the University of Fribourg in Switzerland. “The situation for the US public finance is rather worrying indeed, since the US federal government has been accumulating fiscal deficits for a long period of time, and currently the economic outlook is very problematic for a number of stakeholders in this country and beyond it,” Dr. Rossi told Sputnik.

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“..on a voluntary basis, at first..”

“Your access to your financial assets can be denied or stopped if you don’t do what you’re told.”

EU Moves Forward With Digital ID Despite Security Concerns (AmG)

The European Parliament and the Council of the European Union reached a final agreement this week on the establishment of “European Digital Identity Wallets,” the first central and fully digital identification system for all Europeans. “Under the new law, the EU will offer its citizens so-called ‘digital wallets’—on a voluntary basis, at first—which will contain digital versions of their ID cards, driving licenses, diplomas, medical records, and bank account information,” the European Conservative reported. These documents will be recognized as means to access online services throughout Europe, and citizens will be able to prove their identity or share electronic documents from their wallets “with a click of a button,” the legislators hope. “This marks an important step towards the Digital Decade 2030 targets on the digitalization of public services,” the EU Commission said in a statement Wednesday.

“All EU citizens will be offered the possibility to have an EU Digital Identity Wallet to access public and private online services in full security and protection of personal data all over Europe.” The agreement reached by the co-legislators is now subject to formal approval by the European Parliament and the Council. Once formally adopted, the European Digital Identity framework will enter into force on the 20th day following its publication in the Official Journal. The agreement came just a few weeks after Christine Lagarde, the head of the European Central Bank, announced that the European Union was moving forward with the development of its new central bank digital currency (CBDC)—the digital Euro. Conservative EU lawmakers and cybersecurity experts have opposed these developments, warning that large-scale abuse is inevitable in an all-encompassing digital identity system.

Dutch MEP Rob Roos sounded the alarm on X, Wednesday: “BREAKING: Very bad news. The European Parliament and Member States just reached an agreement on introducing the Digital Identity,” he said. Roos noted that following the agreement, EU Commissioner Thierry Breton said: “‘Now that we have a Digital Identity Wallet, we have to put something in it…’, suggesting a connection between CBDC and eID.” Ahead of the the European Parliament’s decision, over 500 privacy and cybersecurity experts from 39 countries signed a joint letter warning that the legislation “fails to properly respect the right to privacy of citizens and secure online communications.” Roos lamented that most EU lawmakers “ignored all the privacy experts and security specialists. They’re pushing it all through.” The Dutch conservative said that he is not optimistic, but “it is not too late yet.” “Parliament still has to vote about this. Let your MEP know that you oppose the Digital Identity and that you want your MEP to vote against it!” he said.

The Biden White House released a “Comprehensive Framework for Responsible Development of Digital Assets” in September of last year. Catherine Austin Fitts, financial expert and Assistant Secretary of Housing and Urban Development during the H.W. Bush administration, has long been a vocal opponent of CBDC systems. In a recent interview, she warned that a 100 percent digital system would be controlled centrally and that a person’s money could potentially be limited to a particular geographical area. Such a totalitarian system, she argued, could also allow the State to limit people on what they are allowed to buy. “Let’s say I want to mandate a vaccine. Your financial transaction ability can be turned off,” Fitts said. “Your access to your financial assets can be denied or stopped if you don’t do what you’re told.”

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3-day fast

 

 

 

 

Common ground

 

 

Ravens

 

 


An extraordinarily rare glimpse of one of the last Malayan tigers; there are only 150 left on Earth. Their rapid decline is due to deforestation & poaching for body parts. 1400 snares were found in their protected area. So, take a good look, we may not see one again.

 

 

 

 

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

 

 

 

 

 

Jan 102020
 
 January 10, 2020  Posted by at 10:23 am Finance Tagged with: , , , , , , , , , , , ,  15 Responses »


Jack Delano Main street intersection, Norwich, Connecticut 1940

 

Iran Invites US To Join Probe Of Ukrainian Jet Disaster (R.)
Missile System Suspected Of Bringing Down Airliner – Short Range, Fast And Deadly (R.)
Trump’s Iran De-Escalation Succeeds (Flores)
Tulsi Gabbard: ‘Iran Is Closer Now To A Nuclear Weapon Than Ever Before’ (NW)
Iran Could Have Nuclear Weapon Within One To Two Years: French Minister (R.)
Matt Gaetz Voted With Democrats On War Powers Resolution (SAC)
Democrats To Press For Impeachment Witnesses Throughout Trial (R.)
The Justice Department Is Devoid of Justice (PCR)
Internal Boeing Messages Raise Serious Questions About 737 MAX (R.)
Boeing Emails Show Workers Mocking FAA, Ridiculing 737 MAX Safety (MW)
White House Unveils Plan To Speed Big Projects Permits (R.)
China To Become First To Realize UN Goal Of ‘No Poverty’ (CD)

 

 

There are still far too many people out there with opinions derived from confirmation bias. Please stop it, open your minds. Whether it’s Soleimani or this downed jet, it’s fine if you need some time to figure things out. WWIII? Attacking Iran? These things would cost Trump the presidency. And he knows it.

Meanwhile, why are the US and Canada falling over themselves to declare the shooting down of the 737-800NG (if that’s even what happened) “unintentional” and “accidental”? That brings back memories of MH17. Where the opposite happened.

And why did Iran go from refusing to hand over black boxes, to inviting the US and others in, within 24 hours? Detente?

 

Iran Invites US To Join Probe Of Ukrainian Jet Disaster (R.)

The U.S. National Transportation Safety Board (NTSB) has accepted an invitation from Iran to take part in its investigation into the crash of a Ukrainian airplane in Tehran, the agency confirmed late on Thursday. The NTSB said in a statement its Response Operations Center had received formal notification from Iran of Wednesday’s crash of the Boeing 737-800 that killed all 176 on board. “The NTSB has designated an accredited representative to the investigation of the crash,” the agency said. The NTSB confirmed it would take part in the probe after an Iranian official told Reuters of the agreement. “The NTSB has replied to our chief investigator and has announced an accredited representative,” Farhad Parvaresh, Iran’s representative at the International Civil Aviation Organization, part of the United Nations, told Reuters.

A person briefed on the matter said it was unclear what if anything its representative would be able to do under U.S. sanctions. NTSB said in its statement it “continues to monitor the situation surrounding the crash and evaluate its level of participation in the investigation.” The United States is allowed to take part under global rules since the Boeing 737-800NG jet was designed and built there. Canada, which had dozens of passengers onboard, has also assigned an expert, while a team from Ukraine held discussions in Tehran on Thursday, Parvaresh said in a telephone interview. Iran is ready to provide consular facilities and visas for accredited investigators, he added.

Sweden and Afghanistan, which had some passengers on board, have also been notified. France may also be involved as it was one of the countries where the engines were made, Parvaresh said. He denied U.S. and Canadian claims that the jet had been shot down accidentally and said Iran was committed to a full and transparent investigation for the accident, adding it was too early to speculate on the cause. “As Iranians we feel this tragedy and disaster for us and for the families,” Parvaresh said, expressing condolences to the relatives of the people who died. Canadian Prime Minister Justin Trudeau said earlier the jet was probably brought down by an accidental Iranian missile strike, citing intelligence from Canadian and other sources.

The U.S. government believes Iran shot down the plane by mistake, three U.S. officials told Reuters. The Ukraine International Airlines flight to Kiev from Tehran crashed hours after Iran fired ballistic missiles at two U.S. military bases in Iraq. Parvaresh said expert testimony indicated that the aircraft could not have been hit by a missile and that it was important to keep the crash investigation non-political. “I think we should keep this purely technical and not confuse it with political tensions in the region. We should leave it to experts to investigate and make their report.”

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And Russian.

Missile System Suspected Of Bringing Down Airliner – Short Range, Fast And Deadly (R.)

Canada said on Thursday that a surface-to-air missile brought down a Ukrainian airliner in Tehran, while the Ukrainian government said it was investigating reports of debris from a Russian-made Tor-M1 missile. The Tor, also called the SA-15 Gauntlet by NATO, is a short-range “point defense” system that integrates the missile launcher and radar into a single tracked vehicle. It is designed to be mobile and lethal against targets at altitudes up to 6,000 meters (20,000 feet) and at ranges of 12 km (7.5 miles), according to the Federation of American Scientists, which researches and analyses “catastrophic threats to national and international security”.

Military aircraft and cruise missiles – which the Tor system is designed to destroy – typically plot their courses to avoid being spotted on radar. They are equipped with systems such as chaff, which confuses radar, and flares, which act as decoys for heat-seeking missiles. The jet that crashed on Wednesday, Ukraine International Airlines Flight 752, a Boeing 737-800, would have filed a flight plan and had no defensive features. It was unlikely the flight crew had time to react to any missile, said Michael Duitsman, a research associate at the Middlebury Institute of International Studies. “They probably wouldn’t have even seen it coming,” Duitsman said. “Right after takeoff, the pilots were probably preoccupied with other things.”

To attack a target, the Tor operator must identify it on the radar screen and direct the missile to launch. There were several other civilian aircraft nearby when Flight 752 crashed just a few kilometers from the airport. All of those aircraft would have been visible on the radar screen of the Tor battery as well as civilian radar at the airport. [..] Tor missiles are guided by radar and fly at almost three times the speed of sound. That means that if launched at a target 5 km (3 miles) away, they will arrive within about five seconds. They have a small warhead – about 15 kg (33 lb) of high explosive – but are designed to spray fragments of shredded metal, like bullets, into a target upon detonation.

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Most intriguing piece of the day. Do read it from A to Z. Was Trump tricked into killing Soleimani? Just so anti-war voters would move away from him?

Trump’s Iran De-Escalation Succeeds (Flores)

Impeachment against Trump has now been used several times to push him to act aggressively in the middle-east, contrary to his policy and self-interest. On all the ‘impeachment threat – then strike’ occasions, Trump ordered strikes on predictable targets – targets so predictable and oddly executed, that Syrian and Iranian forces barely felt them. There appears to be at the very least an ‘unspoken communication’ at play, where strikes are made to assuage political needs but not to inflict serious damage. If Trump really wanted an excuse to strike Iran, he’s had it before.

There was precisely such an opportunity when subversives in government hatched a plan to push Trump into a war with Iran, when two planes were sent to violate Iranian airspace – one manned, the other unmanned – flying in close proximity. This created the chance that Iran’s downing of either plane could be used as a pretext for a major war-creating strike on Iran.

Despite Trump’s acting reasonably, government actors and media attempted to create a sensation where Trump was ridiculed for ‘calling off’ a planned retaliation in the aftermath of the downed drone. The same liberal media and Democratic Party establishment that attacked Trump’s de-escalation then from a hawkish perspective, today manifest as doves who suddenly oppose Trump’s reckless hawkishness. Here, in the aftermath of the drone incident, a Trump policy was formulated – and it’s a policy that figures prominently in de-escalation in the aftermath of the assassination of Soleimani and Iran’s measured response. The policy is this – if Iran kills Americans, then the U.S escalates. If the U.S does something provocative, then Iran is actually allowed to respond militarily, so long as American personnel are not killed.

[..] A war with Iran would push the anti-war sentiments of independent voters away from Trump, and towards a more revitalized and mobilized Democrat Party anti-war base. Trump needs an anti-war base to be re-elected, and war with Iran pushes that base towards nearly any Democrat candidate. At the same time, Trump also needs the continued support from America’s Christian Zionist evangelical ‘Israel Firsters’, as well as the infamous AIPAC, not only to be re-elected, but to maintain the support in the senate against impeachment. That conflict between Trump’s two greatest populist strengths – between Trump’s anti-war base and his Christian Zionist base – largely defines his weakest political spot. That’s why it’s the best place to attack him.

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Easy, Tulsi!

Scott Ritter on Twitter: “I’m a huge @TulsiGabbard fan, but she is treading on dangerous ground. The implication here is that Iran has nuclear weapons ambition. If you buy into this fallacy, you empower those who will use this as a justification for war.”

Tulsi Gabbard: ‘Iran Is Closer Now To A Nuclear Weapon Than Ever Before’ (NW)

Democratic presidential candidate Tulsi Gabbard blasted President Donald Trump’s actions toward Iran, claiming that his decisions has brought the Persian Gulf nation closer “than ever before” to obtaining a nuclear weapon. “Trump’s war with Iran is undermining our national security and putting all Americans in greater danger,” Gabbard, a Hawaii congresswoman and Iraq War veteran, warned in a Thursday tweet, sharing a clip of herself discussing recent tensions with Iran on CNN. “Iran is closer now to a nuclear weapon than ever before. And it’s opening the door to resurgence of ISIS/Al-Qaeda,” she claimed.

Iran is believed to be closer today to possessing a nuclear weapon than it has been under the restrictions of the 2015 Joint Comprehensive Plan of Action (JCPOA), commonly known as the Iran nuclear deal, which Trump withdrew from in May 2018. Still, it appears to be an exaggeration to say the country is closer than “ever before” to obtaining such a weapon. The JCPOA successfully reduced Iran’s uranium enrichment program, with U.S. intelligence leaders saying last year it would take the Islamic Republic at “about one year” to create a nuclear weapon. Before that agreement, Iran was believed to be within two to three months of creating highly enriched uranium that could be used in a weapon, according to a July 2018 report by the Congressional Research Service.

[..] Aniseh Bassiri Tabrizi, a research fellow at the Royal United Services Institute, a London-based security think tank, told CBS News that Iran could now develop a nuclear weapon within six months. She noted, however, that Iran has still expressed support for the JCPOA but plans to no longer abide by its obligations under the deal. Iran “is still allowing the verification by [International Atomic Energy Agency] inspectors,” she told CBS.

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Sometimes you might just get the idea that NATO wants nothing more than for Iran to develop nukes.

Iran Could Have Nuclear Weapon Within One To Two Years: French Minister (R.)

Iran could have nuclear weapons in one to two years if the country carries on violating the 2015 nuclear accord, French Foreign Minister Jean-Yves Le Drian said on Friday. “If they continue with unravelling the Vienna agreement, then yes, within a fairly short period of time, between one and two years, they could have access to a nuclear weapon, which is not an option”, Le Drian said on RTL radio. EU foreign ministers will hold an emergency meeting on Friday to seek ways to guide the United States and Iran away from confrontation, knowing that a miscalculation on either side could leave the bloc facing a war and a serious nuclear proliferation crisis on its doorstep.

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It’s toothless anyway.

Matt Gaetz Voted With Democrats On War Powers Resolution (SAC)

“I spoke to the president today,” Rep. Matt Gaetz, (R-FL) said on “Tucker Carlson Tonight.” “The president told me he is more antiwar than I am, and I love the president for that. The thing is, I think a few of the advisers of the president are trying to slow-walk the administration into war. When the president relies on his instincts and we have the Trump doctrine, we kill the terrorist and we come home.” “I think this War Powers Resolution was worthy of support because it did not criticize the president,” Gaetz said. “It did not say he was wrong in killing [Quds Force Gen.] Soleimani. But…it did say that if any president wants to drag our nation into another forever Middle East war that they require the approval of the United States Congress.”


“That’s something I deeply believe. And I think it’s something the president deeply believes,” Gaetz explained. Tucker Carlson questioned Gaetz’s claim that his vote had Trump’s support. “Just to be totally clear,” Tucker Carlson asked, “you are one of three Republicans who voted, in effect, against the president’s stated position but you just talked to the president and he said that he is on your side?” “Well, the president probably would have preferred that I vote with the other Republicans,” Gaetz responded. “He [Trump] certainly said that. I think on these broader questions of war and peace, Donald Trump understands that the pro-war candidate loses presidential elections … it’s typically the anti-war candidates that win.”

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Inviting Biden and Schiff onto the stage.

Democrats To Press For Impeachment Witnesses Throughout Trial (R.)

Senate Democratic leader Chuck Schumer said he will press Republicans to accept four witnesses, including John Bolton, Trump’s former national security adviser, even if the Senate rejects testimony at the start of the trial to determine whether Trump should be convicted of abusing his power and obstructing Congress over Ukraine. “Those votes at the beginning of the trial will not be the last votes on witnesses and documents. Make no mistake, we will continue to revisit the issue,” Schumer said on the Senate floor. Schumer, who needs only four of the 100-seat Senate’s 53 Republicans to join Democrats on the witness question, could succeed by pressuring vulnerable Republicans such as Senator Susan Collins and Senator Cory Gardner, who face re-election challenges in swing states in November.


Without witnesses, Democrats fear Senate Republicans could move quickly to dismiss the charges against Trump. But securing witnesses could also open a Pandora’s box for Democrats. Trump has said he would like to hear from former Vice President Joe Biden, his businessman son Hunter Biden, House Intelligence Committee Chairman Adam Schiff and the anonymous whistleblower whose complaint launched the impeachment inquiry. Trump also has said he might try to block Bolton from testifying. “When we start allowing national security advisers to just go up and say whatever they want to say… We can’t do that,” he told reporters at the White House.

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“This is how corrupt American law has become. A man is being put in prison for 6 months for not cooperating with an investigation of an event that did not happen!”

The Justice Department Is Devoid of Justice (PCR)

In the United States the criminal justice (sic) system is itself not subject to law. We see immunity to law continually as police commit felonies against citizens and even murder children and walk away free. We see it all the time when prosecutors conduct political prosecutions and when they prosecute the innocent in order to build their conviction record. We see it when judges fail to prevent prosecutors from withholding exculpatory evidence and bribing witnesses and when judges accept coerced plea deals that deprive the defendant of a jury trial.

We just saw it again when federal prosecutors recommended a six month prison sentence for Lt. Gen. Flynn, the former head of the Defense Intelligence Agency accused of lying to the FBI about nothing of any importance, for being uncooperative in the Justice (sic) Department’s effort to frame President Trump with false “Russiagate” charges. The Justice (sic) Department prosecutor said: “The sentence should adequately deter the defendant from violating the law, and to promote respect for the law. It is clear that the defendant has not learned his lesson. He has behaved as though the law does not apply to him, and as if there are no consequences for his actions.”

That is precisely what the Justice (sic) Department itself did for years in their orchestration of the fake Russiagate charges against Trump. The prosecutor’s hypocrisy is overwhelming. The Justice (sic) Department is a criminal organization. It has no sense of justice. Convicting the innocent builds the conviction rate of the prosecutor as effectively as convicting the guilty. The Horowitz report of the Justice (sic) Department’s lies to the FISA court did not recommend a six-month prision sentence for those Justice (sic) Deplartment officials who lied to the government. Horowitz covered up the crimes by converting them into “mistakes.” Yes, they are embarrassing “mistakes,” but mistakes don’t bring prison sentences.

Now that we know the only Russiagate scandal was its orchestration by the CIA, Justice (sic) Department, and Democrats, failing to cooperate with the special counsel investigation of alleged Russian interference in the 2016 election is nonsensical as we know for a definite fact that there was no such interference. [..] This is how corrupt American law has become. A man is being put in prison for 6 months for not cooperating with an investigation of an event that did not happen! If Trump doesn’t pardon Flynn (and Manafort and Stone), and fire the corrupt prosecutors who falsely prosecuted Flynn, Trump deserves no one’s support. A president who will not defend his own people from unwarranted prosecution is not worthy of support.

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Clowns and monkeys. Are these people still working at Boeing?

Internal Boeing Messages Raise Serious Questions About 737 MAX (R.)

Boeing on Thursday released hundreds of internal messages that raise serious questions about its development of simulators and the 737 Max that was grounded in March after two fatal crashes, prompting outrage from US lawmakers. In an April 2017 exchange of instant messages, two employees expressed complaints about the Max following references to issues with the plane’s flight management computer. “This airplane is designed by clowns who in turn are supervised by monkeys,” one unnamed employee wrote. In one message, dated November 2015, which appears to shed light on lobbying methods used when facing demands from regulators, a Boeing employee notes regulators were likely to want simulator training for a particular type of cockpit alert.

“We are going to push back very hard on this and will likely need support at the highest levels when it comes time for the final negotiation,” the employee writes. The planemaker said some communications “raise questions” about Boeing’s interactions with the Federal Aviation Administration (FAA) in connection with the simulator qualification process. In releasing redacted versions of what it called “completely unacceptable” communications, Boeing said it was committed to transparency with the regulator. Unredacted versions of the messages were turned over to the FAA and Congress in December.

Peter DeFazio, the House transportation committee chairman, who has been investigating the Max, said the messages “paint a deeply disturbing picture of the lengths Boeing was apparently willing to go to in order to evade scrutiny from regulators, flight crews, and the flying public, even as its own employees were sounding alarms internally”. He added: “they show a coordinated effort dating back to the earliest days of the 737 Max program to conceal critical information from regulators and the public”.

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“Would you put your family on a Max simulator trained aircraft? I wouldn’t.”

Boeing Emails Show Workers Mocking FAA, Ridiculing 737 MAX Safety (MW)

Newly released internal emails from Boeing Co. paint a disturbing picture of its 737 Max program, with employees bragging about fooling FAA regulators and ridiculing its safety. The emails were part of more than 100 pages of documents sent Thursday by Boeing to House and Senate committees that have been investigating the aircraft maker in the wake of two crashes in 2018 and 2019 that killed a combined 346 people. The 737 Max family has been grounded for nearly a year, with no return date yet. “This airplane is designed by clowns who in turn are supervised by monkeys,” read one email.


Some messages detail problems with the development of Boeing’s 737 Max simulator and suggest the planes got FAA approval under false pretences. “I still haven’t been forgiven by God for the covering up I did last year,” one of the employees says in a 2018 email, apparently referring to interactions with the Federal Aviation Administration. “Would you put your family on a Max simulator trained aircraft? I wouldn’t,” one employee emailed a colleague. “No,” the co-worker responded. “These newly-released emails are incredibly damning,” Rep. Peter DeFazio, D-Ore., said in a statement Thursday night. “They paint a deeply disturbing picture of the lengths Boeing was apparently willing to go to in order to evade scrutiny from regulators, flight crews, and the flying public.”

Read more …

They’ll be buried in ever more lawsuits, and many courts will choose the other side. It’s simply too late, and opinion on fossil fuels etc. is against deregulation.

White House Unveils Plan To Speed Big Projects Permits (R.)

The Trump administration on Thursday unveiled a plan to speed permitting for major infrastructure projects like oil pipelines, road expansions and bridges, one of the biggest deregulatory actions of the president’s tenure. The plan, released by the White House Council on Environmental Quality (CEQ), would help the administration advance big energy and infrastructure projects like the Keystone XL oil pipeline or roads, bridges and federal buildings that President Donald Trump and industry groups complained have been hampered by red tape. “For the first time in over 40 years today we are issuing a new rule under the National Environmental Policy Act (NEPA) to completely overhaul the dysfunctional bureaucratic system that has created these massive obstructions,” Trump said at the White House on Thursday.

The proposal to update the how NEPA, the 50-year bedrock federal environmental law, is implemented is part of Trump’s broader effort to cut regulations and oversight to boost industry. “This proposal affects virtually every significant decision made by the federal government that affects the environment,” Interior Secretary David Bernhardt said, adding that the NEPA reform would be the “most significant deregulatory proposal” of the Trump administration. The proposed rule says federal agencies would not need to factor in the “cumulative impacts” of a project, which could include its impact on climate change, making it easier for major fossil fuel projects to sail through the approval process and avoid legal challenges.

[..] Trump’s efforts to cut regulatory red tape have been praised by industry. But they have so far largely backfired by triggering waves of lawsuits that the administration has lost in court, according to a running tally here by the New York University School of Law’s Institute for Policy Integrity. Over the last few years, federal courts have ruled that NEPA requires the federal government to consider a project’s carbon footprint in decisions related to leasing public lands for drilling or building pipelines.

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The author is a senior fellow at the think tank Center for China and Globalization. That explains a lot. But yes, China achieved a lot re: poverty. Question is: at what price?

China To Become First To Realize UN Goal Of ‘No Poverty’ (CD)

China is poised to realize a dream that a few decades ago most experts would have dismissed as wishful thinking. For centuries, China dreamed of building a “moderately prosperous society” in all respects. And this year, under the leadership of the Communist Party of China, China will realize that dream despite having a population of more than 1.3 billion. Late leader Deng Xiaoping resurrected this ancient but never-realized goal when reform and opening-up were launched. Chinese leaders who followed adopted it, adding additional details. President Xi Jinping included it in his seminal “four-pronged comprehensive strategy” in 2014. Xi explained the notion in great detail at the 19th National Congress of the CPC in October 2017 in a speech titled, “Secure a Decisive Victory in Building a Moderately Prosperous Society in All Respects”, mentioning the concept 18 times.

He said that building a moderately prosperous society in all respects meant promoting social fairness and justice, as well as ensuring steady access to childcare, education, employment, medical service, elderly care, housing and social assistance. He pledged to “intensify poverty alleviation, see that all our people have a greater sense of fulfillment as they contribute to and gain from development, and continue to promote well-rounded human development and common prosperity for everyone.” Now, a little more than two years later, the results are in, and China is about to eradicate absolute poverty. In 1979, China’s per capita GDP was $200. It is now estimated to be $10,000, a 50-fold increase – with GDP growth averaging just shy of 10 percent a year.

Over the past four decades, China has lifted about 800 million people out of poverty, which is 70 percent of the global total. Little wonder China is set to become the first developing country to achieve the first of the UN’s 17 Sustainable Development Goals: No poverty. China’s rural population living under the currently defined poverty line of $1.90 per person per day fell from 770 million in 1978 to 16.6 million in 2018, and the rural poverty level declined from 97.5 percent to 1.7 percent, a decrease of 95.8 percent. In 2019 alone, about 340 impoverished counties and 10 million people were lifted out of poverty. And Xi has pledged that after the eradication of absolutely poverty in 2020, China will launch a campaign to eliminate relative poverty.

Read more …

 

In the same way that you ARE the climate. Or the war.

 

 

 

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May 172019
 


Caravaggio The seven works of mercy (Sette opere di Misericordia) 1607

 

“Well, I don’t know what will happen now. We’ve got some difficult days ahead. But it really doesn’t matter with me now, because I’ve been to the mountaintop… 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.”

– Reverend Dr. Martin Luther King Jr, one day before he was murdered

 

What Martin Luther King King won through many hard-fought battles, and in the end through sacrificing his own life, has to be won all over again: freedom, truth, justice. And this time it’s Julian Assange who stands in the frontline. With Chelsea Manning and Edward Snowden by his side. But I know you’re not very likely to agree with that assessment.

For one thing, I picked the kind of headline that will probably make many people not read an essay. But I’m not kidding, and I’m not saying this for effect. Julian Assange is like Martin Luther King in many ways, and he deserves for people to recognize that.

Assange and Dr. King were born in different times, the former 3 years after the latter was murdered. But when anyone wants to talk King’s legacy, then Assange very much IS that legacy. It would be nice if people like Dr. King’s youngest daughter Bernice, who is very vocal on her father’s legacy, would acknowledge this. Her father certainly would have.

What Julian Assange and Martin Luther King have in common is a superior intelligence, combined with unwavering courage and an unrelenting drive for justice and truth. Both men were born so brave they realized that they might have to give their lives for their causes. And then brought that realization into practice. Both in their own way gave their lives for our sins.

Shared intelligence and courage, justice and truth. Unfortunately, another thing the two share is gross and vile sex smears. Which hurt both men much more than anything else thrown at them. Not a coincidence. Sex smears invariably and for good reason work strongest in women. And in Reverend King’s case, his religious following, who were 99% black people. Lose the women and you lose half of your potential support.

In Assange’s case, the smears, which have even been upgraded to ‘rape’, keeps people from standing up for him. Once you have that word attached to you, you will never fully get rid of it no matter what happens. J. Edgar Hoover’s FBI knew this in the 1960’s, and Robert Mueller and James Comey’s FBI certainly never forgot it half a century later.

 

And of course there are many many people saying that Assange is no Martin Luther King, that Dr. King was a much better man than Assange could ever be. I would urge them to study how Dr. King was perceived in the last 10 years of his life. The nation didn’t exactly revere him, far from it. Most didn’t like him at all, he was seen as a troublemaker, including by many black people, who thought he would make their lives even harder. And then there were Hoover’s sex smears.

After his murder, it took just a few years for the first campaign to establish a public holiday in his name to start. 15 years after the murder, in 1983, President Reagan signed it into law. Even if and when such a petition were started in the case of Assange’s death, which we should all hope will be many years away, the odds of it getting anywhere are slim. But the same would have been true in 1965. So there is hope.

Those willing to give their own lives in order to make other people’s lives better, richer, more just, are special people. Not flawless, for that would make them not people, but special. Yes, Jesus is an obvious example. And so is Mahatma Gandhi. And sure, I hear you say Assange is no Jesus and no Gandhi, but the pattern of peaceful resistance cannot be denied.

There are obviously plenty people who fight for what’s right. What makes Assange, Dr. King, Gandhi, Jesus stand out is that they are examples of people standing up to entire empires. They guy standing in front of the tanks in Tienanmen square in 1989 was another one. Dr. King, Gandhi, Jesus were murdered for what they did. The Chinese guy in all probability also was. That leaves us with Assange.

Does he need to die first before we can appreciate and recognize what he has achieved in our names, that he changed the world we live in for good, as in literally for good? Does it really have to end the same way? Julian Assange hasn’t even received his Nobel Peace Prize yet.

 

 

Here’s an article by Roy Peter Clark for the Poynter, November 25, 2014, about the FBI and sex smears.

How the Southern press foiled FBI’s attempt to smear MLK

Is it possible that we have to thank the white Southern press of the 1960s – even the segregationist press – for its restraint in resisting FBI attempts to smear the Rev. Martin Luther King, Jr., with sexual scandal? That question is raised, but not sufficiently developed, in a Nov. 11 New York Times piece written by Yale historian Beverly Gage. She discovered in the files of FBI chief J. Edgar Hoover an uncensored draft of what has been called the “suicide letter.” The letter was part of an elaborate effort to discredit King, who was about to receive the Nobel Peace Prize.


Based on wire taps and audio tapes, the one-page letter, supposedly sent by an outraged black citizen, described in the vivid language of the day examples of King’s marital infidelities and sexual adventures. The writer, actually an FBI agent, threatened to go public in 34 days with details of King’s affairs. “There is only one thing left for you to do,” it read near the end. “You know what it is.”

From the article, a conversation between Gene Patterson, editor of the Atlanta Constitution from 1960-1968, later editor of the St. Petersburg Times, and Howell Raines, political editor of the St. Petersburg Times, who in 1977 published an oral history of the civil rights movement entitled My Soul Is Rested. In that book Patterson describes to Raines how he was approached by the FBI to smear Dr. King:

“An FBI agent was sent to see me with the bugging information that Dr. King had been engaged in extramarital sexual affairs. The FBI agent, obviously under orders of the director, Hoover, because nobody acted without his direction, urged me – he said, ‘Gene,…here you on this paper have raised Dr. King up to be some kind of model American, some kind of saint, some kind of moralist.’ He said, ‘Now, here’s the information, and why don’t you print it?’ The FBI, the secret police of this country!


And I had to explain to him, ‘Look, we’re not a peephole journal. We don’t print this kind of stuff on any man. And we’re not going to do it on Dr. King.’ And I said, ‘Furthermore, I’m shocked that you would be spying on an American citizen, whether it’s Dr. King or some other person because if it can happen to him, it can happen to all of us.’ And I asked him if he thought this wasn’t a misuse of the FBI. But he was highly offended at me, seeing us as an immoral newspaper for not printing back-alley gossip that the secret police of the United States were trying to ruin this man with.”

Patterson told Raines that one of the editors contacted by the FBI was Lou Harris of the Augusta (Ga.) Chronicle, a paper that supported segregation on its editorial pages. Patterson recalls:


“So I had a phone call from Lou Harris one day, and he said, ‘Gene, I had a call from an FBI agent over here, and you’d be amazed at what he told me about Dr. King.’ And I said, ‘Lou, you mean sex exploits.’ …He said, ‘Have you heard about this?’ I said, ‘Yeah, the FBI has been to see me, too.’ And I said, ‘What are you gonna do with it?’ he said, ‘Hell, I wouldn’t print that stuff. That’s beyond the pale.’ And this was a segregationist editor talking to me. And I said, ‘Lou, I’m proud of you. I’m not gonna mess with it either.’”

And then perhaps the most revealing bit.

One night, Patterson found himself on a plane to Atlanta with John Doar, one of Bobby Kennedy’s top aides in the Justice Department. Hoover was a powerful man, but supposedly subject to the direction of the Attorney General. “I want you to tell the attorney general about this,” said Patterson. “He should know what the FBI is up to.”


“Because the more I thought about it,” Patterson said, “the more worried I’d become about the misuse of secret police powers.” Patterson remembered that throughout his narrative, Doar never looked at him, staring straight ahead in stony silence. “And all of a sudden,” said Patterson, “it hit me like a thunderclap that Bobby Kennedy knew about it. I had made Doar very uncomfortable by relating it to him. Not one expression crossed that deadpan face of his. He just did not respond. It was like talking to a dead man.”

A half century after these incidents, the American intelligence and security apparatus have snooping powers well beyond anything that could be imagined by Dr. King, Patterson, and their contemporaries. Imagine the corruption of a J. Edgar Hoover armed with the weapons of the digital age. His original bugging of King, whom he hated and criticized publicly, was not in search of sexual indiscretions. Hoover’s goals were measured by the paranoid politics of his time: that King had consorted with Communists.

 

 

No matter where it leads, no matter what abuses it will bring, I’m going to tell the truth

-Dr. King

 

 

 

 

 

 

Mar 282017
 
 March 28, 2017  Posted by at 8:38 am Finance Tagged with: , , , , , , , , , ,  Comments Off on Debt Rattle March 28 2017


Dorothea Lange Abandoned cafe in Carey, Texas 1937

 

A Nation of Landowners – But For How Long? (M.)
Middle-Class, Even Wealthy Americans Sliding Inexorably Into The Red (MW)
Italy’s Monte Paschi Bailout Has Some ECB Supervisors Grumbling
NY Fed: “Oil Prices Fell Due To Weakening Demand” (ZH)
Why Did Preet Bharara Refuse to Drain the Wall Street Swamp? (Bill Black)
A Detailed “Roadmap” For Meeting The Paris Climate Goals (Vox)
In UK Access To Justice Is No Longer A Right, But A Luxury (G.)
The Curse of the Thinking Class (Jim Kunstler)
Tensions Flare As Greece Tells Turkey It Is Ready To Answer Any Provocation (G.)
Erdogan Races Against the Dollar in Campaign for Unrivaled Power (BBG)
Tillerson Will Not Meet Turkey Opposition In Ankara Visit This Week (R.)
Troika Pushes Greece To Sell Up To 40% Of State-Controlled Power Utility (R.)
Fraport Greece Signs Funding Deal With 5 Lenders (K.)
Contraction Of Credit Continues Unabated In Greece (K.)
Mikis Theodorakis: ‘In Tough Times, Greeks Become Heroes or Slaves’ (GR)
Nearly 1,200 Migrants Picked Up Off Libya, Heading To Italy (R.)
Italy Calls For Investigation Of NGO Supported Migrant Fleet (Dm.)

 

 

“To not one of those improvements does the land monopolist, as a land monopolist, contribute, and yet by every one of them the value of his land is enhanced.”

A Nation of Landowners – But For How Long? (M.)

Land occupies a unique position in the economy because it is essential for any activity and, given its fixed supply, an increase in demand for it can only increase its price. Meanwhile finance, which facilitates that demand, has been available in ever-greater abundance since the deregulation of mortgage lending in the 1970s and 1980s. The interaction between the inelastic supply of land and the highly elastic supply of mortgage lending lies at the heart of the house price boom over the past few decades. But while the finance part of the story is relatively new (before the 1970s mortgages were harder to get and lending restricted by the conservative practices of the building societies), the land question has been around for centuries.

Ever since Henry VIII seized the monastery lands in the early 16th century a market has been evolving in land as a privately-owned tradable commodity. What is crucial to the contemporary housing debate, and what this book illustrates brilliantly, is how the control of land is, or has at least been allowed to become, fundamental to economic and political power relations. Because land is permanent and immovable, those who own the exclusive rights to its use are able to siphon off the value of any economic output that is dependent on it. The value of a piece of land therefore reflects the level of activity conducted on or around it, as well as any speculation arising from expectations about its potential future use. This price does not reflect the efforts or ingenuity of its owner, and so it does not reward productive activity but rather penalises it in the form of rent.

This ability of landowners to extract economic rent from productive activity, or the unearned increment, was once at the centre of political discourse. It was an issue that troubled classical economists ranging from Adam Smith to Karl Marx. As the industrial revolution advanced in the 18th and 19th centuries, productivity levels improved, and so the owners of land began to enjoy the fruits of the community’s labour. A land reform movement gathered momentum towards the late 19th century and the writings of the American economist Henry George advocating a land value tax attracted a following. In 1909, a young Winston Churchill (then 35, and a Liberal) decried the land monopolist’s free ride in what remains one of the best descriptions of the dilemma:

“Roads are made, streets are made, services are improved, electric light turns night into day, water is brought from reservoirs a hundred miles off in the mountains and all the while the landlord sits still. Every one of those improvements is effected by the labour and cost of other people and the taxpayers. To not one of those improvements does the land monopolist, as a land monopolist, contribute, and yet by every one of them the value of his land is enhanced.”

Churchill was careful to stress that it was the system he was attacking not the landowner himself (‘We do not want to punish the landlord. We want to alter the law’). But the law was as it was because landowners controlled parliament and indeed the Liberals’ plan for a land value tax in the People’s Budget, in support of which Churchill had been speaking, was thrown out by the House of Lords.

Read more …

How to kill a city part 832.

Middle-Class, Even Wealthy Americans Sliding Inexorably Into The Red (MW)

Not even a high six-figure salary is enough to keep New York City families out of the red. But spare a thought for the average American family, whose costs easily outpace the average income. A recent analysis from Sam Dogen at his personal finance website Financial Samurai showed how difficult it is for high earners to escape the rat race in New York City, one of the priciest places to live in the world. He analyzed a mock budget for an imaginary family of four in which the two 35-year-old breadwinners each make $250,000 a year. After factoring in taxes, 401(k)contributions, home and child care costs, the family was left with just $7,300 for the year — as if they were living “paycheck to paycheck.”

Perhaps nobody is crying for lawyers making $500,000 a year or even $250,000, but the analysis shows just how easy it is for spending habits to take a high salary and turn it into table scraps. Dogen said pressure from peers to spend more is a big contributing factor, adding “everywhere I go, and I’ve been all over the world, high income earners are secretly feeling the same squeeze.” “They are unhappy, getting divorces, and always comparing themselves to wealthier and wealthier people,” he said. “Heck, even a friend who is worth over $200 million after founding and taking public a company feels like he needs to continue working because he has to ‘keep up with the Zuckerbergs.’”

So how would the average American family fare by the same lifestyle? MarketWatch crunched the numbers and found they would be racking up approximately $27,000 in debt a year if they spent the average of what Americans spend on the same activities. This vast difference in economic stability comes even after adjusting for cheaper housing costs and lowering the number of vacations to one a year — the average in the U.S.

Read more …

Beware of any central bank announcements made the day after Christmas.

Italy’s Monte Paschi Bailout Has Some ECB Supervisors Grumbling

When the European Central Bank declared Banca Monte dei Paschi di Siena solvent last December, the first step toward a state-funded rescue, some members of the 19-nation Supervisory Board weren’t fully on board. Confronted with what they saw as a political agreement to bail out the world’s oldest lender, dissenters went along with the consensus despite their concerns about the bank’s health…[..] To make sense of the Monte Paschi debate, you have to start with a 2014 law known as the Bank Recovery and Resolution Directive, which sets out the EU’s bank-failure rules. The law assumes that if a firm needs “extraordinary public financial support,” this indicates that it’s failing and should be wound down. In that process, investors including senior bondholders can be forced to take losses.

An exception, known as a precautionary recapitalization, is allowed for solvent banks if a long list of conditions is met. As the name suggests, this tool isn’t intended to clear up a bank’s existing problems, such as Monte Paschi’s mountain of soured loans. This temporary aid is allowed to address a capital shortfall identified in a stress test. Daniele Nouy, head of the ECB Supervisory Board, reiterated in an interview on Monday that Monte Paschi and other Italian banks in line for a bailout are “not insolvent, otherwise we would not be talking about precautionary recapitalization.” Not everyone is convinced the bank, whose woes date back many years, qualifies for this special treatment.

“It is unclear if Monte Paschi meets the BRRD’s exemption criteria, and their use has the appearance of promoting national political concerns over a stricter reading of the newly established European rules,” said Simon Ainsworth at Moody’s. “The plan could risk damaging the credibility of the resolution framework, especially given that it would mark its first major test case.” The ECB’s decision on Monte Paschi’s solvency and capital gap was announced by the lender the day after Christmas. The ECB published an explanation of the precautionary recapitalization process a day later, but said little else publicly. On Dec. 29, the Bank of Italy issued a statement that broke down the €8.8 billion rescue into its parts. Solvency in the case of a precautionary recapitalization is determined based on two criteria, the ECB said: the bank meets its legal minimum capital requirements, and it has no shortfall in the baseline scenario of the relevant stress test.

Read more …

I’ve been talking about falling oil demand for so long that when other bring it up now it seems all new again.

NY Fed: “Oil Prices Fell Due To Weakening Demand” (ZH)

[..] one aspect of price formation that is rarely mentioned is demand, which is generally assumed to be unwavering and trending higher with barely a hiccup. The reason for this somewhat myopic take is that while OPEC has control over supply, demand is a function of global economic growth and trade (or lack thereof) over which oil producers have little, if any control. And yet, according to the latest oil price dynamics report issued by the Fed, it was declining global demand that pushed prices lower in the most recent, volatile period. As the New York Fed report in its March 27 report, “Oil prices fell owing to weakening demand” and explains as follows: “A decline in demand expectations together with a decreasing residual drove oil prices down over the past week.”

While there was some good news, namely that “in 2016:Q4, oil prices increased on net as a consequence of steadily contracting supply and strengthening, albeit volatile, global demand” offsetting the “modest decline in oil prices during 2016:Q3 caused by weakening global demand expectations and loosening supply conditions,” the Fed’s troubling finding is that the big move lower since 2014 has been a function of rising supply as well as declining demand: Overall, since the end of 2014:Q2, both lower global demand expectations and looser supply have held oil prices down. And while this trend appeared to have reversed in 2016:Q2 and 2016:Q4, recent indications suggest that demand may once again be slowing, which in turn has pressured oil prices back to levels last seen shortly after OPEC’s Vienna deal.

It is curious that according to the NY Fed, at a time when OPEC vows it is cutting production, the Fed has instead found “loose” supply to be among the biggest contributors to the latest decline in oil prices. But what may be concering to oil bulls is that as the decomposition chart below shows, while oil demand was solidly in the green ever since Trump’s election victory, in recent weeks it appears to have also tapered off along with the supply contribution to declining oil prices. This seems to suggest that along with most other “animal spirits” that were ignited following the Trump victory, only to gradually fade, oil demand, and thus price, may be the next to take another leg lower unless of course Trump manages to reignite the Trumpflation trade which, however, over the past month appears to have completely faded.

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“Indeed, Bharara never mustered the courtesy to respond to Bowen’s offers to aid his office.”

Why Did Preet Bharara Refuse to Drain the Wall Street Swamp? (Bill Black)

The New York Times’ editorial board published an editorial on March 12, 2017, praising Preet Bharara as the “Prosecutor Who Knew How to Drain a Swamp.” I agree with the title. At all times when he was the U.S. Attorney for the Southern District of New York (which includes Wall Street) Bharara knew how to drain the swamp. Further, he had the authority, the jurisdiction, the resources, and the testimony from whistleblowers like Richard Bowen (a co-founder of Bank Whistleblowers United (BWU)) to drain the Wall Street swamp. Bowen personally contacted Bharara beginning in 2005.

“You were quoted in The Nation magazine as saying that if a whistleblower comes forward with evidence of wrongdoing, then you would be the first to prosecute [elite bankers]. I am writing this email to inform you that there is a body of evidence concerning wrongdoing, which the Department of Justice has refused to act on in order to determine whether criminal charges should be pursued.” Bowen explained that he was a whistleblower about Citigroup’s senior managers and that he was (again) coming forward to aid Bharara to prosecute. Bowen tried repeatedly to interest Bharara in draining the Citigroup swamp. Bharara refused to respond to Bowen’s blowing of the whistle on the massive frauds led by Citigroup’s senior officers.

Bharara knew how to drain the Wall Street swamp and was positioned to do so because he had federal prosecutorial jurisdiction over Wall Street crimes. Whistleblowers like Bowen, who lacked any meaningful power, sacrificed their careers and repeatedly demonstrated courage to ensure that Bharara would have the testimony and documents essential to prosecute successfully some of Wall Street’s most elite felons. Bharara never mustered the courage to prosecute those elites. Indeed, Bharara never mustered the courtesy to respond to Bowen’s offers to aid his office. [..] Bharara knew how to drain the Wall Street swamp. He had the facts, the staff, and the jurisdiction to drain the Wall Street swamp. Bharara refused to do so.

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We all realize that this is never ever going to happen, right?!

A Detailed “Roadmap” For Meeting The Paris Climate Goals (Vox)

To hit the Paris climate goals without geoengineering, the world has to do three broad (and incredibly ambitious) things: 1) Global CO2 emissions from energy and industry have to fall in half each decade. That is, in the 2020s, the world cuts emissions in half. Then we do it again in the 2030s. Then we do it again in the 2040s. They dub this a “carbon law.” Lead author Johan Rockström told me they were thinking of an analogy to Moore’s law for transistors; we’ll see why. 2) Net emissions from land use — i.e., from agriculture and deforestation – have to fall steadily to zero by 2050. This would need to happen even as the world population grows and we’re feeding ever more people. 3) Technologies to suck carbon dioxide out of the atmosphere have to start scaling up massively, until we’re artificially pulling 5 gigatons of CO2 per year out of the atmosphere by 2050 — nearly double what all the world’s trees and soils already do.

“It’s way more than adding solar or wind,” says Rockström. “It’s rapid decarbonization, plus a revolution in food production, plus a sustainability revolution, plus a massive engineering scale-up [for carbon removal].” So, uh, how do we cut CO2 emissions in half, then half again, then half again? Here, the authors lay out a sample “roadmap” of what specific actions the world would have to take each decade, based on current research. This isn’t the only path for making big CO2 cuts, but it gives a sense of the sheer scale and speed required:

2017-2020: All countries would prepare for the herculean task ahead by laying vital policy groundwork. Like: scrapping the $500 billion per year in global fossil fuel subsidies. Zeroing out investments in any new coal plants, even in countries like India and Indonesia. All major nations commit to going carbon-neutral by 2050 and put in place policies — like carbon pricing or clean electricity standards — that point down that path. “By 2020,” the paper adds, “all cities and major corporations in the industrialized world should have decarbonization strategies in place.”

2020-2030: Now the hard stuff begins! In this decade, carbon pricing would expand to cover most aspects of the global economy, averaging around $50 per ton (far higher than seen almost anywhere today) and rising. Aggressive energy efficiency programs ramp up. Coal power is phased out in rich countries by the end of the decade and is declining sharply elsewhere. Leading cities like Copenhagen are going totally fossil fuel free. Wealthy countries no longer sell new combustion engine cars by 2030, and transportation gets widely electrified, with many short-haul flights replaced by rail.

Read more …

Brexit hardly seems Britain’s biggest problem. It’s the gutting of an entire society that is.

In UK Access To Justice Is No Longer A Right, But A Luxury (G.)

Laws that cost too much to enforce are phoney laws. A civil right that people can’t afford to use is no right at all. And a society that turns justice into a luxury good is one no longer ruled by law, but by money and power. This week the highest court in the land will decide whether Britain will become such a society. There are plenty of signs that we have already gone too far. Listen to the country’s top judge, Lord Thomas of Cwmgiedd, who admits that “our justice system has become unaffordable to most”. Look at our legal-aid system, slashed so heavily by David Cameron and Theresa May that the poor must act as their own trial lawyers, ready to be skittled by barristers in the pay of their moneyed opponents. The latest case will be heard by seven supreme court judges and will pit the government against the trade union Unison. It will be the climax of a four-year legal battle over one of the most fundamental rights of all: the right of workers to stand up against their bosses.

In 2013, Cameron stripped workers of the right to access the employment tribunal system. Whether a pregnant woman forced out of her job, a Bangladeshi-origin guy battling racism at work, or a young graduate with disabilities getting aggro from a boss, all would now have to pay £1,200 for a chance of redress. The number of cases taken to tribunal promptly fell off a cliff – down by 70% within a year. Citizens Advice, employment lawyers and academics practically queued up to warn that workers – especially poor workers – were getting priced out of justice. But for Conservative ministers, all was fine. Loyal flacks such as Matthew Hancock (then employment minister) claimed those deterred by the fees were merely “unscrupulous” try-ons, intent on “bullying bosses”. Follow Hancock’s logic, and with all those time-wasters weeded out, you’d expect the number of successful tribunal claims to jump. They’ve actually dropped.

Read more …

“Do they covet our Chick-fil-A chains and Waffle Houses? Our tattoo artists? Would they like to induce the Kardashians to live in Moscow? Is it Nascar they’re really after?”

The Curse of the Thinking Class (Jim Kunstler)

Let’s suppose there really is such a thing as The Thinking Class in this country, if it’s not too politically incorrect to say so — since it implies that there is another class, perhaps larger, that operates only on some limbic lizard-brain level of impulse and emotion. Personally, I believe there is such a Thinking Class, or at least I have dim memories of something like it. The farfetched phenomenon of Trumpism has sent that bunch on a journey to a strange land of the intellect, a place like the lost island of Kong, where one monster after another rises out of the swampy murk to threaten the frail human adventurers. No one back home would believe the things they’re tangling with: giant spiders, reptiles the size of front-end loaders, malevolent aborigines! Will any of the delicate humans survive or make it back home?

This is the feeling I get listening to arguments in the public arena these days, but especially from the quarters formerly identified as left-of-center, especially the faction organized around the Democratic Party, which I aligned with long ago (alas, no more). The main question seems to be: who is responsible for all the unrest in this land. Their answer since halfway back in 2016: the Russians. I’m not comfortable with this hypothesis. Russia has a GDP smaller than Texas. If they are able to project so much influence over what happens in the USA, they must have some supernatural mojo-of-the-mind — and perhaps they do — but it raises the question of motive. What might Russia realistically get from the USA if Vladimir Putin was the master hypnotist that Democrats make him out to be?

Do we suppose Putin wants more living space for Russia’s people? Hmmmm. Russia’s population these days, around 145 million, is less than half the USA’s and it’s rattling around in the geographically largest nation in the world. Do they want our oil? Maybe, but Russia being the world’s top oil producer suggests they’ve already got their hands full with their own operations? Do they want Hollywood? The video game industry? The US porn empire? Do they covet our Chick-fil-A chains and Waffle Houses? Our tattoo artists? Would they like to induce the Kardashians to live in Moscow? Is it Nascar they’re really after?

My hypothesis is that Russia would most of all like to be left alone. Watching NATO move tanks and German troops into Lithuania in January probably makes the Russians nervous, and no doubt that is the very objective of the NATO move — but let’s not forget that most of all NATO is an arm of American foreign policy. If there are any remnants of the American Thinking Class left at the State Department, they might recall that Russia lost 20 million people in the dust-up known as the Second World War against whom…? Oh, Germany.

Read more …

“The Turkish nationalist opposition leader, Devlet Bahçeli, has gone even further, claiming that several Greek islands are under occupation and reacting furiously when Kammenos visited the far-flung isle of Oinousses. “Someone must explain to this spoiled brat not to try our patience,” he railed. “If they [the Greeks] want to fall into the sea again, if they want to be hunted down, they are welcome, the Turkish army is ready. Someone must explain to the Greek government what happened in 1922. If there is no one to explain it to them, we can come like a bullet across the Aegean and teach them history all over again.”

Tensions Flare As Greece Tells Turkey It Is Ready To Answer Any Provocation (G.)

Fears of tensions mounting in the Aegean and eastern Mediterranean Seas reignited after the Turkish president raised the prospect of a referendum on accession talks with the EU and the Greek defence minister said the country was ready for any provocation. Relations between Ankara and European capitals have worsened before the highly charged vote on 16 April on expanding the powers of the Turkish president, Recep Tayyip Erdogan. Western allies have argued that a vote endorsing the proposed constitutional change would invest him with unparalleled authority and limit checks and balances at a time when they fear the Turkish leader is exhibiting worrying signs of authoritarianism. Erdogan has been enraged by recent bans on visiting Turkish officials rallying “yes” supporters in Germany and the Netherlands.

Highlighting growing friction between Ankara and the bloc, he raised the spectre of a public vote on EU membership at the weekend. “We have a referendum on 16 April. After that we may hold a Brexit-like referendum on the [EU] negotiations,” he told a Turkish-UK forum attended by the British foreign secretary, Boris Johnson. “No matter what our nation decides we will obey it. It should be known that our patience, tested in the face of attitudes displayed by some European countries, has limits.” The animus – reinforced last week when the leader said he would continue labelling European politicians “Nazis” if they continued calling him a dictator – has also animated tensions between Greece and Turkey, and Erdogan’s comments came hours after the Greek defence minister said armed forces were ready to respond in the event of the country’s sovereignty and territorial integrity being threatened.

“The Greek armed forces are ready to answer any provocation,” Panos Kammenos declared at a military parade marking the 196th anniversary of Greece’s war of liberation against Ottoman Turkish rule. “We are ready because that is how we defend peace.” Although Nato allies, the two neighbours clashed over Cyprus in 1974 and almost came to war over an uninhabited Aegean isle in 1996. Hostility has been rising in both areas, with the Greek Cypriot leader Nicos Anastasiades recently voicing fears of Turkey sparking a “hot incident” in the run-up to the referendum. “I fear the period from now until the referendum in Turkey, as well as the effort to create a climate of fanaticism within Turkish society,” he told CNN Greece. Turkey’s EU negotiations have long been hindered by Cyprus, and talks aimed at reuniting its estranged Greek and Turkish communities are at a critical juncture but have stalled and are unlikely to move until after the referendum.

But it is in the Aegean where tensions, matched by an increasingly ugly war of words, have been at their worst. After a tense standoff over eight military officers who escaped to Greece after the abortive coup against Erdogan last July – an impasse exacerbated when the Greek supreme court rejected a request for their extradition – hostility has been measured in almost daily dogfights between armed jets and naval incursions of Greek waters by Turkish research vessels. Both have prompted diplomats and defence experts to express fears of an accident at a time when experienced staff officers and pilots have been sidelined in the purges that have taken place since the attempted coup. The shaky migration deal signed between the EU and Turkey to thwart the flow of refugees into the continent has only added to the pressure.

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The falling dollar is setting up Turkey for dictatorship. The world will come to regret this.

Erdogan Races Against the Dollar in Campaign for Unrivaled Power (BBG)

Turkish President Recep Tayyip Erdogan has lambasted friend and foe alike in a campaign for vast new powers, but his political fate may hang on the one thing he’s stopped carping about: the price of money. With the April 16 vote on strengthening the presidency too close for pollsters to call, Erdogan is no longer berating the central bank and commercial lenders over borrowing costs they’ve pushed to a five-year high. He’s betting any measures taken to arrest the lira’s plunge will pay off at the ballot box. The lira’s value versus the dollar is more than just a pocketbook issue in Turkey, where millions of voters still remember the abrupt devaluations that ravaged their livelihoods in past decades and view the exchange rate as the most important indicator of the nation’s economic health.

Turkey’s trade deficit is the biggest of all top 50 economies relative to output and most of its imports and foreign debt are priced in dollars, so sharp declines in the lira can be ruinous for legions of entrepreneurs like Ramazan Saglam, who owns a print shop in a working-class neighborhood of Ankara. “I bitterly recall when the dollar jumped in 1994 and 2001 – my business collapsed both times,” Saglam said. “I’m supporting the new presidential system wholeheartedly because I don’t want to go bankrupt again.” Saglam nodded at the big red banner billowing from his second-story window to illustrate his point. The Chinese cloth and South Korean ink he used to make it were all bought with dollars, as was the American printer that produced Erdogan’s image and the slogan, “Yes. For my country and my future.”

Given the choice between paying more for credit to buy supplies and keeping the lira in check, he said he’d choose sound money every time. Supporters of the proposed constitutional changes say handing Erdogan sweeping new authority is the only way to achieve the stability that society craves and businesses need to thrive. But opponents say approving the referendum is an invitation to dictatorship, particularly since Erdogan, already the most dominant leader in eight decades, jailed or fired more than 100,000 perceived enemies after rogue army officers attempted a coup in July. “Everybody on the street tracks the exchange rate on a daily basis and Erdogan wins support as long as Turkey can keep the lira stable,” said Wolfango Piccoli, the London-based co-president of Teneo Intelligence, a political risk advisory firm. “But the challenge here is the external backdrop. They can’t really predict what’s coming.”

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The US must cease labeling the PKK a terrorist organization. Or stop backing the Kurds in Syria. Can’t have both.

Tillerson Will Not Meet Turkey Opposition In Ankara Visit This Week (R.)

U.S. Secretary of State Rex Tillerson will not meet members of Turkish opposition groups during a one-day visit to Ankara this week where talks with President Tayyip Erdogan will focus on the war in Syria, senior U.S. officials said on Monday. Thursday’s visit comes at a politically sensitive time in Turkey as the country prepares for a referendum on April 16 that proposes to change the constitution to give Erdogan new powers. A senior State Department official said Tillerson will meet with Erdogan and government ministers involved in the fight against Islamic State in Syria. “It is certainly something we are very acutely aware of and the secretary will be mindful of while he is there,” one State Department official told a conference call with reporters, referring to political sensitivities ahead of the referendum.

American officials expect Erdogan and others to raise the case of U.S.-based cleric Fethullah Gulen, whom the government accuses of orchestrating a failed coup last July. The focus of the Ankara talks is the U.S.-led offensive to retake Raqqa from Islamic State and to stabilize areas in which militants have been forced out, allowing refugees to return home, officials said. A major sticking point between the United States and Turkey is U.S. backing for the Syrian Kurdish YPG militia, which Turkey considers part of the Kurdistan Workers’ Party that has been fighting an insurgency for three decades in Turkey. But the United States has long viewed Kurdish fighters as key to retaking Raqqa alongside Arab fighters in the U.S.-backed Syrian Democratic Forces (SDF). “We are very mindful of Turkey’s concerns and it is something that will continue to be a topic of conversation,” a second U.S. official said.

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Fire sale. The minister actually called these practices ‘cannibalistic’, and rightly so. And that’s not even the best of it. A Greek paper details how a Greek bank, Alpha Bank, lends the money to German investors to buy up Greece’s Public Power Corp. That is about as close to cannibalism as you can get. Economic warfare 101.

Troika Pushes Greece To Sell Up To 40% Of State-Controlled Power Utility (R.)

A Greek minister on Monday accused international lenders of reneging on a 2015 bailout deal by trying to force a fire-sale of its main electricity utility PPC to serve “domestic and foreign business interests.” Under terms of a 2015 bailout deal for Greece worth up to €86 billion, Public Power Corp. (PPC) is obliged to cut its dominance in the Greek market to below 50% by 2020. Although it is not clearly specified in the deal, lenders want Greece to sell some of PPC’s assets. PPC, which is 51% owned by the state, now controls about 90% of the country’s retail electricity market and 60% of its wholesale market. Greece last year launched power auctions to private operators as a temporary mechanism and has proposed that PPC team up with private companies to help achieve this target. But lenders doubt the effectiveness of the measure.

“What they want is that power production infrastructure of up to 40% – PPC’s coal-fired production- is sold. This is what they want right know, which is beyond the (2015) deal,” Interior Minister Panos Skourletis, a former energy minister, told Greek state television. Skourletis on Monday accused the lenders pressing the country to sell-off PPC units at a very low price to serve European and domestic competitors. “It is an assault which has set its sights on PPC’s assets to pass it on to specific European and domestic business interests at a humiliating price,” Skourletis said in an Op-Ed penned for the Efimerida Ton Syntakton daily.

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More warfare, more cannibalism. Airports also ‘privatized’, ‘reformed’. Alpha Bank is also the largest lender in this case. Nice partners too: “..the International Finance Corporation (€154.1 million), a member of the World Bank Group [..] is also the sole provider of euro interest rate hedging swaps..”

Fraport Greece Signs Funding Deal With 5 Lenders (K.)

Five leading financial institutions have signed a long-term financing agreement with German-Greek consortium Fraport Greece, which will soon be managing, operating, upgrading and maintaining 14 regional Greek airports under a 40-year concession contract. The agreement is for total financing of 968.4 million euros. The lenders are Alpha Bank (participating with €284.7 million), the Black Sea Trade & Development Bank (€62.5 million), the European Bank for Reconstruction & Development (€186.7 million), the European Investment Bank (€280.4 million), and the International Finance Corporation (€154.1 million), a member of the World Bank Group.

IFC is also the sole provider of euro interest rate hedging swaps to help Fraport Greece hedge potential fluctuations in interest rates through the term of the loan. Over two-thirds of the total amount (€688 million) will be used to cover the upfront payment (of €1.234 billion) due to state sell-off fund TAIPED upon the airports’ delivery, while €280.4 million will be used to finance upgrading work at the 14 airports. Meanwhile, Fraport Greece recently announced a capital increase raising the company’s total capital to €650 million, most of which will go toward the upfront payment.

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But domestic credit is still collapsing. And so is the economy, of course.

Contraction Of Credit Continues Unabated In Greece (K.)

Bank of Greece figures revealed on Monday a further contraction in the financing of the Greek economy last month, a result of the general uncertainty hanging over the economy and the drop deposits at the country’s banks. The total funding of the economy was down 2% YOY in February, from -1.5% in January, while the monthly net flow of total financing was negative by €801 million, against a negative flow of €1.261 billion in January. The main factor in that decline was the drop in funding to the state, as the annual rate concerning the general government sector posted a 3.7% contraction in February against a 0.1% increase in January. In the private sector it was negative by 1.6% as funding shrank by a net €101 million. The image was somewhat different for enterprises as there was an €82 million monthly increase in the net flow of funding last month, compared with a €643 million decline in January. However, the flow of credit to private clients and nonprofit organizations dipped by €153 million or 2.7% in February.

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Wise old genius. “As soon as three Greeks get together, they start talking of who’s going to be the leader..”

Mikis Theodorakis: ‘In Tough Times, Greeks Become Heroes or Slaves’ (GR)

“During tough times, a Greek can become a hero or a slave,” said legendary Greek composer Mikis Theodorakis in an interview published in Proto Thema Sunday newspaper. The 92-year-old musician, who is also an emblematic figure of the Greek Left, spoke about Greece’s current state, the leftist government, the main opposition party and the bailout agreements. Theodorakis said that he is not shocked about the current condition Greece is in because, historically, the country has been through turmoil several times. He said the Greek spirit, like a light, shines through at the end because Greeks have an inner harmony that prevails. However, Theodorakis said, this is a hard period for Greece and this time he is afraid for the future of the country: “When the Greek is with his back against the wall, he becomes a hero or a slave.”

When asked to compare the current state of the nation with the times of the German Occupation, Theodorakis said that what Greece is going through now is worse: “I don’t remember people going through the trash to find food. I don’t remember elderly people waiting in line to get a cabbage.” Theodorakis spoke in length about the time (2012) opposition leader Alexis Tsipras and leftist legend Manolis Glezos approached him and asked him to join SYRIZA and win the upcoming elections. He said he refused to join because the young candidate did not have a plan on how to get Greece going without supervision and financial aid from the EU and the IMF. He described Greece as a train rolling on tracks laid by the EU and the IMF.

“I told him ‘if you’re planning to come to power without having a plan to change the tracks and provide Greek people with what they need, then you are opportunists and you will only succeed in destroying the country and humiliating the Greek Left’,” the composer said about Tsipras. “With great sadness, I believe that the current plight of the country confirms exactly what I said to Alexis Tsipras, here in my house, in the meeting that I mentioned earlier,” Theodorakis said. The composer said that Greeks have a lust for power: “As soon as three Greeks get together, they start talking of who’s going to be the leader,” he said characteristically.

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A new issue has come to light: where are the NGOs picking up the refugees?

Nearly 1,200 Migrants Picked Up Off Libya, Heading To Italy (R.)

Humanitarian ships rescued almost 1,200 migrants who were crossing the Mediterranean Sea at the weekend on an array of small, tightly packed boats, Doctors Without Borders said on Sunday. A young woman was found unconscious on one of the vessels and later died, the group said. Some 412 people were crammed onto a single wooden boat, while the others were picked up from huge inflatable dinghies, which had set sail from the coast of Libya. The weekend rescues mean that about 22,000 mainly African migrants have been picked up heading to Italy so far this year, while around 520 have died trying to make the crossing.

An Italian prosecutor said last week that humanitarian ships operating off Libya were undermining the fight against people smugglers and opening a corridor that is ultimately leading to more migrant deaths. The chief prosecutor of the Sicilian port city of Catania, Carmelo Zuccaro, said he also suspected that there may be direct communication between Libya-based smugglers and members of charity-operated rescue vessels. NGOs deny any wrongdoing, saying they are simply looking to save lives, but they are facing criticism in Italy, which has taken in about half a million migrants since the start of 2014.

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Italy thinks George Soros is sponsoring this.

Italy Calls For Investigation Of NGO Supported Migrant Fleet (Dm.)

Italian authorities are calling for monitoring of the funding of an NGO fleet bussing migrants into the EU from the North African coast after a report released the European Border and Coast Guard Agency has determined that the members of the fleet are acting as accomplices to people smugglers and directly contributing to the risk of death migrants face when attempting to enter the EU. The report from regulatory agency Frontex suggests that NGOs sponsoring ships in the fleet are now acting as veritable accomplices to people smugglers due to their service which, in effect, provides a reliable shuttle service for migrants from North Africa to Italy. The fleet lowers smugglers’ costs, as it all but eliminates the need to procure seaworthy vessels capable making a full voyage across the Mediterranean to the European coastline.

Traffickers are also able to operate with much less risk of arrest by European law enforcement officers. Frontex specifically noted that traffickers have intentionally sought to alter their strategy, sending their vessels to ships run by the NGO fleet rather than the Italian and EU military. On March 25th, 2017, Italian news source Il Giornale carried remarks from Carmelo Zuccaro, the chief prosecutor of Catania (Sicily) calling for monitoring of the funding behind the NGO groups engaged in operating the migrant fleet. He stated that “the facilitation of illegal immigration is a punishable offense regardless of the intention.” While it is not a crime to enter the waters of a foreign country and pick them migrants, NGOs are supposed to land them at the nearest port of call, which would have been somewhere along the North African coast instead of in Italy.

The chief prosecutor also noted that Italy is investigating Islamic radicalization occurring in prisons and camps where immigrants are hired off the books. Italy has for some months been reeling under the pressure of massive numbers of migrants who have been moving from North Africa into the southern states of the European Union. In December 2016, The Express cited comments made by Virginia Raggi, the mayor of Vatican City, stating that Rome was on the verge of a “war” between migrants and poor Italians. The wave of migrants has also caused issues in southern Italy, where the Sicilian Cosa Nostra has declared a “war on migrants” last year amid reports that the Italian mafia had begun fighting with North African crime gangs who entered the EU among migrant populations.

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