Dec 062019
 
 December 6, 2019  Posted by at 10:16 am Finance Tagged with: , , , , , , , , , , , , ,  5 Responses »


Arthur Rothstein President Roosevelt tours drought area, near Bismarck, North Dakota Aug 1936

 

Mueller Report’s Resurgence Gives Democrats New Dilemma On Impeachment (CNN)
Democrats Offering Passion Over Proof In Trump Impeachment (Turley)
Pelosi Pursues Articles Of Impeachment Against Trump (R.)
Ukraine Fires Prosecutor Investigating Burisma And Hunter Biden (CDMedia)
Fed Goes Hog-Wild with T-Bills, But Repos Drop and MBS Shrink by $22 Bn (WS)
Filmmakers Sue To Shield Visitors To US From Social Media Vetting (IC)
French Strike Against Macron Reforms Enters Day Two (R.)
UK’s Labour Accuses BBC Of Bias In Election Coverage (R.)
Andrew Neil Tells Johnson “It’s Not Too Late” For Election Interview (BBC)
Leak Confirms Turkey’s “Gold-For-Gas” Scheme To Evade US Sanctions On Iran (ZH)
BPA Chemical Levels In Humans Drastically Underestimated (G.)

 

 

There’s a concerted effort to bring back Mueller into the impeachment narrative. I’m not entirely sure why the Dems would want that. A little video with the article suggests Trump would have lied to Mueller -in writing- about contacts with WikiLeaks. You know, Julian Assange, the man who can’t defend himself. The same reason why Mueller could leave him in the report. Along with the 13 Russians. Pelosi can swing from Ukraine back to RussiaRussia. She already did, actually.

So will they bring back Mueller’s bumbling testimony as well? Be careful what you wish for.

Mueller Report’s Resurgence Gives Democrats New Dilemma On Impeachment (CNN)

Democrats are debating a risky step that may immeasurably bolster their impeachment case but could multiply the political price for ramming it home. Including elements of former special counsel Robert Mueller’s Russia report suggesting President Donald Trump was guilty of obstruction would help arguments he did exactly the same in the Ukraine investigation. But reviving the controversy over the special counsel’s probe could blur the much clearer current abuse of power case and play into Trump’s claims that both Washington intrigues are all part of the same “hoax.” Such an accusation would not be based in fact, but it would surely increase the exposure of swing state Democratic House members already facing an existential vote over impeachment. [..]

Democrats provoked fresh speculation that they were moving towards admitting some Mueller evidence by scheduling a Judiciary Committee hearing for Monday with staffers from two committees: Intelligence, which investigated the Ukraine scandal, and Judiciary, which dealt with allegations of obstruction in the Mueller report. This followed comments by House Judiciary Committee Chairman Jerry Nadler, a New York Democrat, that could be taken as a hint that Democrats were examining the Mueller option. “President Trump welcomed foreign interference in the 2016 election. He demanded it for the 2020 election,” Nadler said in his committee’s opening impeachment hearing on Wednesday. “In both cases, he got caught. And in both cases, he did everything in his power to prevent the American people from learning the truth about his conduct.”

But in a situation as emotionally and politically fraught as an impeachment, confronting each action can provoke a politically damaging counter-reaction. Democrats who wanted to initiate impeachment proceedings against Trump after the release of the Mueller report failed to convince a critical mass of their own leadership that the case was sufficiently clear to the American people. That was one reason why Pelosi held out so long against rising pressure in her own caucus for an effort to oust the President, amid fears of a political backlash. In the CNN town hall, the speaker suggested that the Ukraine case was far more black and white. “It wasn’t so clear to the public,” Pelosi said, referring to Mueller’s findings.

“The Ukraine (situation) has removed all doubt, it was self-evident that the President undermined our national security, jeopardized the integrity of our election as he violated the oath of office.” The President and his supporters, perpetrating a massive disinformation campaign to create uncertainty and ambiguity about the Ukraine case, has been trying to brand it as an extension of the Mueller saga. Folding in the special counsel’s evidence could help do his work for him. For instance, in the first televised House Intelligence Committee hearing last month, the panel’s top Republican, Rep. Devin Nunes, told witnesses: “the main performance — the Russia hoax — has ended, and you’ve been cast in the low-rent Ukrainian sequel.”

Read more …

Turley of course is the one expert who disagreed with the three others.

Democrats Offering Passion Over Proof In Trump Impeachment (Turley)

The most dangerous place for an academic is often between the House and the impeachment of an American president. I knew that going into the first hearing of the House Judiciary Committee on the impeachment of Donald Trump. After all, Alexander Hamilton that impeachment would often occur in an environment of “agitated passions.” Yet I remained a tad naive in hoping that an academic discussion on the history and standards of it might offer a brief hiatus from hateful rhetoric on both sides. In my testimony Wednesday, I lamented that, as in the impeachment of President Clinton from 1998 to 1999, there is an intense “rancor and rage” and “stifling intolerance” that blinds people to opposing views.

My call for greater civility and dialogue may have been the least successful argument I made to the committee. Before I finished my testimony, my home and office were inundated with threatening messages and demands that I be fired from George Washington University for arguing that, while a case for impeachment can be made, it has not been made on this record. Some of the most heated attacks came from Democratic members of the House Judiciary Committee. [..] As I stated Wednesday, I believe the Clinton case is relevant today and my position remains the same. I do not believe a crime has been proven over the Ukraine controversy, though I said such crimes might be proven with a more thorough investigation. Instead, Democrats have argued that they do not actually have to prove the elements of crimes such as bribery and extortion to use those in drafting articles of impeachment.

In the Clinton impeachment, the crime was clearly established and widely recognized. As I said 21 years ago, a president can still be impeached for abuse of power without a crime, and that includes Trump. But that makes it more important to complete and strengthen the record of such an offense, as well as other possible offenses. I remain concerned that we are lowering impeachment standards to fit a paucity of evidence and an abundance of anger. Trump will not be our last president. What we leave in the wake of this scandal will shape our democracy for generations to come. These “agitated passions” will not be a substitute for proof in an impeachment. We currently have too much of the former and too little of the latter.

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More Mueller.

Pelosi Pursues Articles Of Impeachment Against Trump (R.)

Warning that U.S. democracy is at stake, House of Representatives Speaker Nancy Pelosi directed a congressional committee on Thursday to draft articles of impeachment against President Donald Trump, a historic step setting up a fight over whether to oust him from office. In a dramatic televised statement, Pelosi accused the Republican president of abusing his power and alluded to Britain’s King George III, the monarch against whom the American colonies rebelled in forming the United States in 1776, saying that in the United States, “the people are the king.” “Our democracy is what is at stake. The president leaves us no choice but to act because he is trying to corrupt, once again, the election for his own benefit. The president has engaged in abuse of power, undermining our national security and jeopardizing the integrity of our elections,” said Pelosi, the top Democrat in Congress.

At the heart of the Democratic-led House’s impeachment inquiry is Trump’s request that Ukraine launch an investigation targeting Joe Biden. The former vice president is a top contender for the Democratic nomination to face Trump in the 2020 presidential election. “Sadly, but with confidence and humility, with allegiance to our founders and our heart full of love for America, today I am asking our chairman to proceed with articles of impeachment,” Pelosi said. She had opened the investigation in September. She was referring to Jerrold Nadler, whose House Judiciary Committee has the responsibility of drawing up the formal charges that would later be voted on by the full House. Two people knowledgeable about the process said the panel could draft and recommend the articles of impeachment to the House as early as Dec. 12.

[..] Judiciary Democrats said the report by former Special Counsel Robert Mueller documenting Russian interference in the 2016 election could be part of testimony they hear on Monday from a committee lawyer, who is presenting evidence along with a Democratic lawyer from the House Intelligence Committee. Republican committee lawyers are also expected to testify. Including material from Mueller’s report in an article of impeachment would demonstrate a pattern of behavior involving foreign interference in U.S. elections, House Judiciary Democrat Pramila Jayapal said.

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Talk about a swamp. Giuliani is talking to Ukraine people. Not sure where that fits in.

Ukraine Fires Prosecutor Investigating Burisma And Hunter Biden (CDMedia)

Ukraine has fired the prosecutor investigating cases involving Hunter Biden and Burisma and has transferred responsibility to the Soros-controlled ‘National Anti-Corruption Bureau’ (NABU) for disposal. This is the same NABU led by Artem Sytnyk who was caught on tape bragging about helping the Clinton campaign in its effort to discredit Donald Trump during the 2016 election. Konstantin Kulik was fired from the General Prosecutor’s Office on November 22 due to corruption charges against him. Sources for CD Media describe the firing as being political in nature, as a way to ‘tidy up’ any loose ends regarding Biden and Burisma, to keep the information from the public eye during the ‘impeachment’ campaign in the United States.

They describe Victor Trepak (New Deputy General Prosecutor), Deputy Prosecutor General Vitaly Kasko, and Sytnyk as being under the control of the George Soros/Deep State infrastructure in-country. Trepak was involved in the infamous ‘black ledger’ in the Manafort affair, which is now considered to be fake. The State Bureau of Investigation may be headed by Deputy Prosecutor General Viktor Trepak it was reported by “Ukrainian Truth” with reference to sources, reported Ukrainian news outlet GordonUA.com. “Soros and the Democrats appointed their agents of influence to the General Prosecutor’s Office (Kasko and Trepak). They put Sytnyk in NABU and Kholodnitsky in SAP (Special Prosecutor) in order to destroy the evidence of corruption of the Democrats in Ukraine and to continue the process of the country’s rape with impunity. They are corruption. If they put Trepak, the author of the ‘black ledger’, as the head of the State Bureau of Investigation, then the process of covering up their crimes will be completed,” declared a confidential intelligence source in Ukraine.

In an interview with the Ukrainian news outlet Babel, Kasko discusses the development of Kulik’s firing. According to him, the National Bureau of Investigation will deal with almost all of the cases that Kulik conducted: “All the cases that Kulik was involved in are currently being inventory. In 99 percent of cases, NABU will deal with them. This is a good body to put an end to and clarify what actually happened in these matters. “

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End the Fed.

Fed Goes Hog-Wild with T-Bills, But Repos Drop and MBS Shrink by $22 Bn (WS)

The total amount of repurchase agreements (“repos”) on the Fed’s balance sheet as of December 4, released today, declined to $209 billion, from $215 billion a month ago. These repos included: • $70 billion in overnight repos, issued on Wednesday morning that unwound today; all prior overnight repos had already unwound. • $88 billion in multi-day repos with maturities of up to two weeks; • $50 billion in 42-day repos; of which $25 billion were issued on November 25 and $25 billion on December 2. They will unwind early next year. Before the repo market blew out in mid-September, the repos on the Fed’s balance sheet were zero. This chart shows the weekly balances of repos on the Fed’s balance sheet as of each Wednesday:

In these “repo operations,” the Fed buys Treasury securities, mortgage-backed securities issued by Fannie Mae and Freddie Mac, and government “Agency” securities, under an agreement whereby the counter parties have to repurchase those securities on a set date at a set (higher) price. The interest rate is determined by the difference between the price the Fed buys the securities at, and the pre-set higher price it sells the securities back to the original counter party. [..] The Fed has stated many times that it wants to get rid of its holdings of MBS. And it’s progressing with the plan. In November, the Fed shed $22 billion in MBS, exceeding the self-imposed cap of $20 billion per month for the seventh month in a row. Over the past seven months, it has shed $160 billion in MBS, or about $22.8 billion a month on average. Its holdings are now down to $1.42 trillion, below where they had first been in November 2013:

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Big Brother appears inevitable.

Filmmakers Sue To Shield Visitors To US From Social Media Vetting (IC)

A filmmaker working on a documentary that’s critical of U.S. policies. A writer who operates a pseudonymous Twitter account to evade an authoritarian regime in their home country. An activist who uses Facebook to organize protests at the U.S.-Mexico border. These are the kinds of people who might not want U.S. immigration agents poring over their social media profiles before deciding whether they should be allowed into the country. Yet that’s exactly what the State Department now requires as part of the Trump administration’s “extreme vetting” of millions of visa applicants. As of May, people who need a visa to enter the U.S. have to disclose any social media handles they’ve used over the past five years on 20 platforms, from Instagram and Twitter to YouTube and Weibo (the Chinese microblogging service).


If they don’t, their visas could be denied. Two U.S.-based documentary film organizations filed suit on Thursday in federal court in Washington, D.C. to challenge the policy, arguing that it will have a chilling effect on the filmmakers they work with. Along with the Knight First Amendment Institute at Columbia University and the Brennan Center for Justice at New York University Law School, the International Documentary Association and Doc Society are suing the State Department and the Department of Homeland Security because their international members are “concerned that their political views will be used against them during the visa process.” “They self-censor to avoid being associated with controversial ideas or sensitive topics,” the complaint states. The nonprofit groups surveyed over 100 international filmmakers and found that “a significant majority said it would chill their speech online.”

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“We’re going to protest for a week at least, and at the end of that week it’s the government that’s going to back down…”

French Strike Against Macron Reforms Enters Day Two (R.)

France faced a second day of travel chaos, shuttered schools and understaffed hospitals on Friday as unions said they would be no let-up in a strike against Emmanuel Macron’s pension reforms until the president backed down. Much of France ground to a halt on Thursday as transport workers went on strike – joined by teachers, doctors, police, firemen and civil servants – while smoke and tear gas swirled through the streets of Paris as some protests turned violent, leading to dozens of arrests. On Friday there were heavy cancellations of rush-hour trains into Paris and 10 out of 16 metro lines were closed while others ran limited services.


Traffic jams totaling more than 350 kilometers clogged the main roads in and around the capital, according to traffic app Styadin, as many commuters took to their cars. Rail workers extended their strike through Friday, while unions at the Paris bus and metro operator RATP said their walkout would continue until Monday. “We’re going to protest for a week at least, and at the end of that week it’s the government that’s going to back down,” said 50-year-old Paris transport employee Patrick Dos Santos. The strike pits Macron, a 41-year-old former investment banker who took office in 2017 on a promise to open up France’s highly regulated economy, against powerful unions who say he is set on dismantling worker protections.

Read more …

With 6 days left, what’s the use?

UK’s Labour Accuses BBC Of Bias In Election Coverage (R.)

Labour’s co-campaign coordinator Andrew Gwynne said they had recorded numerous examples where his party’s leadership had received “more negative treatment, harsher scrutiny and slanted editorial comment” than Prime Minister Boris Johnson’s Conservatives. “That bias has been reflected in the framing, content and balance of BBC reporting during the campaign,” Gwynne wrote in a letter to the BBC’s Director General Tony Hall. “If the Conservatives are allowed to ‘play’ or manipulate the BBC, and this behavior goes unchecked, then the corporation will have effectively been complicit in giving the Conservative Party an unfair electoral advantage.”

The broadcaster, which is funded by a tax on all television-watching households and regularly faces accusations of bias from across the political spectrum, is bound by strict rules to ensure impartiality. “The BBC will continue to make its own independent editorial decisions, and is committed to reporting the election campaign fairly, impartially and without fear or favor,” a BBC spokesman said. Labour, trailing the Conservatives by about 10 points in opinion polls before the Dec. 12 vote, are particularly unhappy that Johnson has not agreed to be interviewed by veteran journalist Andrew Neil, who has already subjected the other major party leaders to tough questioning.

Labour said they had agreed to the Neil interview on the understanding that Johnson had also signed up. “Instead, the BBC allowed the Conservative leader to pick and choose a platform through which he believed he could present himself more favorably and without the same degree of accountability,” Gwynne said. On Thursday, having just interviewed the head of the Brexit Party Nigel Farage on BBC TV at prime-time, Neil issued an on-air challenge to Johnson to appear before him. He also detailed a series of questions he would ask, focusing on whether Johnson could be trusted over campaign promises.

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Ready for prime time TV. If Boris is MIA, just broadcast this.

Andrew Neil Tells Johnson “It’s Not Too Late” For Election Interview (BBC)

The BBC’s Andrew Neil says he wants to quiz Boris Johnson about whether he can be trusted. The Conservative leader is – so far – the only main party leader not to submit to an election grilling on BBC One.

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Great story. Who has the movie rights?

Leak Confirms Turkey’s “Gold-For-Gas” Scheme To Evade US Sanctions On Iran (ZH)

We first started noticing major ‘odd’ exports of gold from Turkey to Iran in May 2012. Turkey’s trade balance fluctuated wildly as gold stocks flowed out of the country in bursts. “Turkey’s going to continue it,” the Turkish economy minister said. “If those casting aspersions on the gold trade are searching for immorality, they should take a look in the mirror.” Then, in 2014, we discussed Turkey’s “200 tons of secret gold” trade with Iran detailing how a complex network that spanned Turkey, China, Dubai and Iran was used to skirt US sanctions on energy exports from Iran. The operation featured an Iranian-born businessman who liked fast horses, faster cars and the fastest planes.

His unique skill: Getting gold into sanctions-encircled Iran. Enough gold that for a time he became the government’s key instrument in improving Turkey’s irksome economic imbalance. At the time, the plot revealed what one observer called, “one of the most complex illicit finance schemes [prosecutors] have seen.” In 2017, the man at the center of the scheme, Reza Zarrab, was arrested (and briefly disappeared) and was tied to Turkey’s president. “Zarrab is thought to have been close to the Erdogan family and, indeed, he was given Turkish citizenship, alongside Iranian. This is a real stress point.”

Zarrab pleaded guilty in October 2017 and turned against Mehmet Hakan Atila – a director at Turkey’s Halkbank – who was convicted on Jan. 3, 2018, and after serving a total 32 months behind bars was returned to Turkey and has since become the head of the Istanbul stock exchange. And since then “one of the biggest money-laundering schemes ever” has disappeared from the headlines… until now. Thanks to a massive leak of more than a million documents from a British offshore shell company provider, think Panama Papers 2.0, we now learn exactly how Iran’s national oil company and its subsidiaries hopscotch the globe, with the help of intermediaries, in search of tax havens that help it try to wriggle free from the grip of crippling U.S.-led sanctions.

Read more …

We’ll end humanity yet.

BPA Chemical Levels In Humans Drastically Underestimated (G.)

Humans are probably being exposed to far more of a widely used dangerous chemical – found in plastics, canned goods and receipt paper – than previously understood, according to a new study. The analysis, in the peer-reviewed scientific journal the Lancet, uses a new method for evaluating exposure to BPA, or bisphenol-A. BPA disrupts hormones critical to many body functions and is linked with obesity and other diseases. Pregnant women who are exposed to it are more likely to have children who have problems with growth, behavior and fertility, as well as a higher cancer risk. Many companies have phased out using BPAs, marketing new products with similar replacement bisphenols as safer without sufficient evidence for their claims, experts say.


The new research examined levels of BPA in urine but also counted the metabolites of BPA. Metabolites are formed when the body breaks down and eliminates a chemical. Using the new method, the scientists analyzed the urine of 29 pregnant women in their second trimester and found their BPA exposure levels to be an average of 44 times higher than what was measured with the traditional method. Patricia Hunt, a co-author of the study who is a molecular biosciences professor at Washington State University, said she was “horrified” by the high levels her group found in the pregnant women.

Read more …

 

 

 

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Dec 052019
 
 December 5, 2019  Posted by at 9:38 am Finance Tagged with: , , , , , , , , , , ,  9 Responses »


Arthur Rothstein Interior of migratory fruit worker’s tent, Yakima, Washington Jul 1936

 

The Market Will Need The Fed Again In 2020 (Axios)
The Repo Market Is Broken And Fed Injections Are Not A Lasting Solution (MW)
Is Something Broken? Quants Running “Scared” As Nothing Makes Sense (ZH)
Legal Experts Called By Democrats Say Trump’s Actions Are Impeachable (R.)
Gaetz Grills Impeachment Witnesses Over Democratic Donations (Fox)
Judiciary Committee Member: Unfair, Politically Biased Ordeal (USAT)
The 10 Most Important Revelations From The Russia Probe FISA Report (Solomon)
Illinois’ Unfunded Pension Liability Rises To $137.3 Billion (R.)
China Set To Make History With Record Number Of Bond Defaults In 2019 (ZH)
France Braces For Biggest Strikes Of Macron’s Presidency (G.)
Uber Faces £1,500,000,000 Bill For Unpaid VAT (Metro)
Julian Assange in Videoconference: The Spanish Case Takes a Turn (IPD)

 

 

The Fed will never be able to get out. That was clear the moment they stepped in.

The Market Will Need The Fed Again In 2020 (Axios)

The No.1 risk to the stock market continuing its outperformance next year is not President Trump or consistently weak U.S. economic data or even China, senior analysts at John Hancock Investment Management say, but whether or not the Fed continues to stimulate the economy through what they call “not QE.” What it means: Fed chair Jerome Powell has insisted the central bank’s bond buying program — initiated after rates in the systemically important repo market spiked to five times their normal level in September — is not quantitative easing. But “it walks and talks” like QE, analysts say, and has injected close to $1 trillion of liquidity into the repo market and added more than $260 billion to the Fed’s balance sheet.

The intrigue: The new “not QE” program was “like a fourth rate cut this year,” John Hancock co-chief investment strategist Matthew Miskin said during a media briefing Tuesday in New York. And it has given a boost to the stock market. The big picture: “The equity market has benefited from a super aggressive Fed,” Ethan Harris, head of global economics at Bank of America Merrill Lynch, told Axios during a separate event Tuesday at BAML headquarters. “I mean the Fed basically anesthetized the markets to the trade war escalation this summer.”

Because the Fed was able to mask the economy’s pain from the market, a strong sell-off may be needed to motivate the Trump administration to secure what Harris calls a “skinny” trade deal with China and avert the Dec. 15 tariffs that will hit billions of dollars worth of consumer goods. The converse is also true, Miskin argued. “If things turn more sour because we’re not getting a trade deal or the tariffs go on Dec. 15, the stress underpinning … the market will re-emerge and the Fed’s definitely going to have to be there,” he told Axios.

Read more …

End the Fed.

The Repo Market Is Broken And Fed Injections Are Not A Lasting Solution (MW)

The Federal Reserve’s ongoing efforts to shore up the short-term “repo” lending markets have begun to rattle some market experts. The New York Federal Reserve has spent hundreds of billions of dollars to keep credit flowing through short term money markets since mid-September when a shortage of liquidity caused a spike in overnight borrowing rates. But as the Fed’s interventions have entered a third month, concerns about the market’s dependence on its daily doses of liquidity have grown. “The big picture answer is that the repo market is broken,” said James Bianco, founder of Bianco Research in Chicago, in an interview with MarketWatch. “They are essentially medicating the market into submission,” he said. “But this is not a long-term solution.”

This chart shows the more than $320 billion of total repo market support from the Fed since Sept. 17, when for the central bank began pumping in daily liquidity after overnight lending rates jumped to almost 10% from nearly 2%. Initially, the central bank rolled out roughly $75 billion in daily lending facilities to arm Wall Street’s core set of primary dealers with low-cost overnight loans to keep the roughly $1 trillion daily U.S. Treasury repo market running. The facilities allow banks to snap up loans by pledging safe-haven U.S. Treasurys or agency mortgage-backed securities with the New York Fed, but crucially without the typical risk-based pricing that lenders regularly charge when funding each other.

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“..the answer is yes: the market is broken, and you can thank central banks for that.”

Is Something Broken? Quants Running “Scared” As Nothing Makes Sense (ZH)

It was a year where the S&P put the mini bear market of December 2018 in the dust, and after a dramatic reversal which saw most central banks flip from hawkish to dovish throughout the year…

… the MSCI World index is just shy of its January 2018 highs, and the S&P has returned an impressive 24% (despite the jittery start to December), and stands at all time record highs, despite, paradoxically, a year of record equity fund outflow. On paper, this should have been a great year for investors after a dismal 2018. In reality, however, 2019 has been just as painful for not just for hedge funds, which have substantially underperformed the S&P again and in October saw a record 8 consecutive months of outflows, the most since the financial crisis…

… but especially for quants, which after a relatively solid year, suffered the September quant crash that destroyed most of their YTD gains, and have generally been unable to find their bearings in a year in which nothing seemed to work. It’s also Georg Elsaesser, a Frankfurt-based fund manager at Invesco, is trying to calm down his newbie quant clients as choppy stock moves make life difficult for anyone trading factors, which wire up all those systematic portfolios on Wall Street. “Some of them are kind of scared,” Elsaesser told Bloomberg. “They’re asking the questions: Is something going wrong? Is something broken?” Well actually, the answer is yes: the market is broken, and you can thank central banks for that.

Read more …

All three are Democrat donors who have a deep dislike of Trump. They couldn’t hide that, didn’t even try, instead went on RussiaRussia rants.

But this was supposed to be about the Constitution, not about their opinions. Turley was the only one who stuck to what was on the table.

Legal Experts Called By Democrats Say Trump’s Actions Are Impeachable (R.)

The hearing on Wednesday was the committee’s first to examine whether Trump’s actions qualify as “high crimes and misdemeanors” punishable by impeachment under the U.S. Constitution. Three law professors chosen by the Democrats made clear during the lengthy session that they believed Trump’s actions constituted impeachable offenses. “If what we’re talking about is not impeachable, then nothing is impeachable,” said University of North Carolina law professor Michael Gerhardt. But George Washington University law professor Jonathan Turley, who was invited by the Republicans, said he did not see clear evidence of illegal conduct. He said the inquiry was moving too quickly and lacked testimony from people with direct knowledge of the relevant events.

“One can oppose President Trump’s policies or actions but still conclude that the current legal case for impeachment is not just woefully inadequate, but in some respects, dangerous, as the basis for the impeachment of an American president,” said Turley, who added that he did not vote for Trump. [..] Republicans focused their questions on Turley, who largely backed up their view that Democrats had not made the case for impeachment – although he did say that leveraging U.S. military aid to investigate a political opponent “if proven, can be an impeachable offense.” Democrats sought to buttress their case by focusing their questions on the other three experts – Gerhardt, Harvard University law professor Noah Feldman and Stanford University law professor Pam Karlan – who said impeachment was justified.

Karlan drew a sharp response from Republicans for a remark about how Trump did not enjoy the unlimited power of a king. “While the president can name his son Barron, he can’t make him a baron,” she said. White House spokeswoman Stephanie Grisham on Twitter called Karlan “classless,” and first lady Melania Trump said Karlan should be “ashamed of your very angry and obviously biased public pandering” for mentioning her 13-year-old son.

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Matt Taibbi: “We laughed at this logic when George W. Bush used it to justify his Mideast wars: “We will fight them over there so we do not have to face them in the United States of America.”

Michael Tracey: “This woman was ostensibly called to testify about the legal and Constitutional questions around impeachment and instead ends up going on a bizarre Cold Warrior rant implying that Russia plans to invade the United States”

Gaetz Grills Impeachment Witnesses Over Democratic Donations (Fox)

Turning to the professors, he asked UNC-Chapel Hill Professor Michael Gerhardt to confirm that he donated to President Barack Obama. “My family did, yes,” Gerhardt responded. Shifting his attention to Harvard Law Professor Noah Feldman, Gaetz noted the educator has written several articles that portray Trump in a negative light. “Mar-a-Lago ad belongs in impeachment file,” Gaetz said, repeating the title of an April 2017 piece Feldman wrote for Bloomberg Opinion. Gaetz further pressed Feldman, asking him: “Do you believe you’re outside of the political mainstream on the question of impeachment?” Responding to Gaetz, Feldman said impeachment is warranted whenever a president abuses their power for personal gain or when they “corrupt the democratic process.”

The professor added he was an “impeachment skeptic” until the July 25 call between Trump and Ukrainian leader Volodymyr Zelensky. After the exchange, Gaetz turned to Stanford Law Professor Pamela Karlan and challenged her on reported four-figure donations to Clinton, Obama and Sen. Elizabeth Warren, D-Mass. “Why so much more for Hillary than the other two?” he added, smiling. The Florida lawmaker went on to criticize Karlan for a remark she made while answering an earlier question by Rep. Sheila Jackson Lee, D-Texas. Karlan had told Jackson Lee that there is a difference between what Trump can do as president and the powers of a medieval king. “The Constitution says there can be no titles of nobility, so while the president can name his son ‘Barron’, he can’t make him a baron.”

Gaetz fumed at the remark, saying it does not lend “credibility” to her argument. “When you invoke the president’s son’s name here, when you try to make a little joke out of referencing Barron Trump… it makes you look mean, it makes you look like you are attacking someone’s family: the minor child of the president of the United States.”

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Rep. Debbie Lesko, R-Ariz., serves on the House Judiciary Committee.

Judiciary Committee Member: Unfair, Politically Biased Ordeal (USAT)

By now we have all heard the news that President Donald Trump’s counsel will not be participating in the House Judiciary Committee’s first impeachment hearing Wednesday. As a member of the committee, I believe President Trump has made the right decision. In their obsession and rush to impeach the president by the end of the year, Democrats have rigged the process from the start. I wouldn’t blame anyone, let alone the president, for being skeptical about this unfair process. Closed door secret meetings, selectively leaked details, refusing to allow Republican witnesses, and releasing the Schiff report and witness list right before the hearing all indicate an unfair, politically biased ordeal.


With little to no information provided by Judiciary Chairman Jerry Nadler, right now it appears anything goes. The president was provided little notice and no indication of who would be the witnesses or if there would be additional hearings. This leaves more questions than answers as we head into the next phase of an already tainted process. House Democrats do not seem to grasp that they cannot legitimize such an illegitimate process halfway through. This process has been unfair for the president and the Republicans from the start, with Democrats ignoring the historical precedents outlined in the Clinton and Nixon impeachments. When it comes to Trump, Democrats have created a whole new set of rules. For them, the end justifies the means, no matter how devoid of due process and fairness those means are.

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I don’t have space for all 10, but Solomon is a must read.

The 10 Most Important Revelations From The Russia Probe FISA Report (Solomon)

Derogatory information about informant Christopher Steele The FBI stated to the court in a footnote that it was unaware of any derogatory information about the former MI6 agent it was using as “confidential human source 1” in the Russia case. This claim could face a withering analysis in the report. Congressional sources have reported to me that during a recent unclassified meeting they were told the British government flagged concerns about Steele and his reliance on “sub-sources” of intelligence as early as 2015. Bruce Ohr testified he told FBI and DOJ officials early on that he suspected Steele’s intelligence was mostly raw and needed vetting, that Steele was working with Hillary Clinton’s campaign in some capacity and appeared desperate to defeat Trump in the 2016 election.

And documents show State Department official Kathleen Kavalec alerted the FBI eight days before the first FISA warrant was obtained that Steele may have been peddling a now-debunked rumor that Trump and Vladimir Putin were secretly communicating through a Russian bank’s computer server. Most experts I talked with say each of these revelations might constitute derogatory information that should be disclosed to the court. On a related note, Horowitz just released a separate report that concluded the FBI is doing a poor job of vetting informants like Steele, suggesting there was a culture of withholding derogatory information from informants’ reliability and credibility validation reports.

News leaks as evidence One of Horowitz’s earlier investigative reports that recommended fired FBI Deputy Director Andrew McCabe for possible prosecution put an uncomfortable spotlight on the bureau’s culture of news leaks. Since then, a handful of other cases unrelated to Russia have raised additional questions about whether the FBI uses news leaks to create or cite evidence in courts. One key to watch in the Horowitz report is the analysis of whether it was appropriate for the FBI to use a Yahoo News article as validating evidence to support Steele’s dossier. We now know from testimony and court filings that Steele, his dossier and Fusion GPS founder Glenn Simpson played a role in that Yahoo News story.

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It’s not just the Fed, but they haven’t exactly helped.

Illinois’ Unfunded Pension Liability Rises To $137.3 Billion (R.)

Illinois’ growing unfunded pension liability, which increased by $3.8 billion to $137.3 billion at the end of fiscal 2019, underscores the need for state action to boost funding or cut costs, analysts said on Wednesday. The increase was fueled by actuarially insufficient state contributions and lower-than-expected investment returns, according to a new state legislative report. Illinois has the lowest credit ratings among U.S. states at a notch or two above the junk level due to its huge unfunded pension liability and chronic structural budget deficit.


Eric Kim, a Fitch Ratings analyst, said growth in the unfunded liability is expected to continue as long as contributions lag actuarial requirements and pension benefits are protected under the Illinois Constitution. “For us, what this all speaks to is the state addressing fundamental structural budget challenges,” he said. Earlier this year, Governor J.B. Pritzker created pension task forces, including one to explore asset sales to boost pension funding. Laurence Msall, president of Chicago-based government finance watchdog the Civic Federation, said the state has not effectively attacked core pension problems, including unsustainable costs. “At best Illinois is running in place, while trying to avoid sliding downhill,” he said.

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A normal market phenomenon?

China Set To Make History With Record Number Of Bond Defaults In 2019 (ZH)

While China is bracing for what may be a historic D-Day event on December 9, when the “unprecedented” default of state-owned, commodity-trading conglomerate Tewoo with $38 billion in assets may take place, it has already been a banner year for Chinese bankruptcies. According to Bloomberg data, China is set to hit another dismal milestone in 2019 when a record amount of onshore bonds are set to default, confirming that something is indeed cracking in China’s financial system and “testing the government’s ability to keep financial markets stable as the economy slows and companies struggle to cope with unprecedented levels of debt.”

After a brief lull in the third quarter, a burst of at least 15 new defaults since the start of November have sent the year’s total to 120.4 billion yuan ($17.1 billion), and set to eclipse the 121.9 billion yuan annual record in 2018. The good news is that this number still represents a tiny fraction of China’s $4.4 trillion onshore corporate bond market; the bad news is that the rapidly rising number is approaching a tipping point that could unleash a default cascade, and in the process fueling concerns of potential contagion as investors struggle to gauge which companies have Beijing’s support. As Bloomberg notes, policy makers have been walking a tightrope as they try to roll back the implicit guarantees that have long distorted Chinese debt markets, without dragging down an economy already weakened by the trade war and tepid global growth.

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The French know how to strike.

France Braces For Biggest Strikes Of Macron’s Presidency (G.)

Emmanuel Macron is braced for the biggest strikes of his presidency as French rail workers, air-traffic controllers, teachers and public sector staff take to the streets on Thursday against proposed changes to the pension system. French rail transport is expected to almost completely grind to a halt with 82% of drivers on strike and at least 90% of regional trains cancelled, amid fears that the transport disruption could continue for days. In Paris, 11 out of 16 metro lines will shut completely, with commuters scrambling to hire bikes and scooters. Many schools will close and even some police unions have even warned of “symbolic” closures of certain police stations. Shops along the route of a march in Paris have been advised to close in case of violence on the edges of the demonstration. About half of the scheduled Eurostar trains between Paris and London have been cancelled.


The standoff is a crucial test for the centrist French president, whose planned overhaul of the pensions system was a key election promise. The government argues that unifying the pensions system – and getting rid of the 42 “special” regimes for sectors ranging from rail and energy workers to lawyers and Paris Opera staff – is crucial to keep the system financially viable as the French population ages. But unions say introducing a “universal” system for all will mean millions of workers in both the public and private sectors must work beyond the legal retirement age of 62 or face a severe drop in the value of their pensions. The row cuts to the heart of Macron’s presidential project and his promise to deliver the biggest transformation of the French social model and welfare system since the postwar era.

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Does Uber have more lawyers than drivers?

Uber Faces £1,500,000,000 Bill For Unpaid VAT (Metro)

Car-sharing giant Uber is a step closer to being liable for an estimated £1.5 billion in unpaid UK tax. Campaigners have won an important legal step that could pave the way for the taxman to come knocking on the beleaguered firm’s door. The move is on top of another legal challenge to stop Uber operating in London. Uber has long-argued that it is a platform that brings drivers and riders together, rather than a transport business. This means that it falls to individual drivers to pay VAT on any rides instead of the company itself. But as the threshold for VAT is only for individuals earning more than £85,000 a year, none of the drivers need to charge it. Campaigners from the Good Law Project calculates this has cost the public £1.5 billion in lost revenue so far.


The law team initially attempted to take Uber to court to force them to disclose their tax affairs but the case looked like being too expensive. Instead, they challenged HM Revenues and Customs and demanded the taxman assess Uber for VAT liabilities. HMRC objected, saying its dealings with Uber were commercially sensitive and it should not have to disclose whether or not it is investigating. Today the Court of Appeal rejected HMRC’s arguments and Mrs Justice Lieven said HMRC now had to disclose whether or not they had made an assessment over Uber’s payment of VAT. The case for the Good Law Project is being led by anti-Brexit campaigner Jolyon Maugham QC who said: ‘The more time passes without an assessment being raised the more VAT is lost – forever.’

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Again, Assange -with his aides- is the only person who has abided by the law. All other parties involved have not. That should have a huge bearing on the case.

Julian Assange in Videoconference: The Spanish Case Takes a Turn (IPD)

The UK Central Authority has had a change of heart. On December 20, Assange is set to be transferred from his current maximum-security abode, Belmarsh, to Westminster Magistrates Court to answer questions that will be posed by De la Mata. To date, the evidence on Morales and the conduct of his organisation is bulking and burgeoning. It is said that the company refurbished the security equipment of the London Ecuadorean embassy in 2017, during which Morales installed surveillance cameras equipped with microphone facilities. While Ecuadorean embassy officials sought to reassure Assange that no recordings of his private conversations with journalists or legal officials were taking place, the opposite proved true.

An unconvinced Assange sought to counter such measures with his own methods. He spoke to guests in the women’s bathroom. He deployed a “squelch box” designed to emit sounds of disruption. These were treated as the measures of a crank rather than those of justifiable concern. The stance taken by Ecuador has not shifted, despite claims by Morales that any recordings of Assange were done at the behest of the Ecuadorean secret service. Instead, Ecuador’s President Lenín Moreno has used the unconvincing argument that Assange, not Ecuador, posed the espionage threat. “It is unfortunate that, from our territory and with the permission of authorities of the previous government, facilities have been provided within the Ecuadorean embassy in London to interfere in the processes of other states.” The embassy, he argued, had been converted into a makeshift “centre for spying.”

German broadcasters NDR and WDR have also viewed documents discussing a boastful Morales keen to praise his employees for playing “in the first league…We are now working for the dark side.” The dark side, it transpires, were those “American friends,” members of the “US Secret Service” that Morales was more than happy to feed samples to. NDR has added its name to those filing charges against UC Global for allegations that its own journalists were spied upon in visiting the Ecuadorean embassy in London.

The allegations have the potential to furnish a case Assange’s lawyers are hoping to make: that attaining a fair trial in the United States should he be extradited to face 18 charges mostly relating to espionage would be nigh impossible. The link between UC Global, the US intelligence services, and the breach of attorney-client privilege, is the sort of heady mix bound to sabotage any quaint notions of due process. The publisher is well and truly damned.

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Simon Kuestenmacher: Map shows that #lightning follows shipping lanes: As it turns out particles in ship exhaust increase the likelihood and intensity of thunderstorms. Really cool fact that I had never considered! Source: https://buff.ly/2B0tcOV

 

 

 

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Nov 082019
 
 November 8, 2019  Posted by at 9:40 am Finance Tagged with: , , , , , , , , , ,  16 Responses »


Whatever happened to Nancy?

 

NATO Alliance Experiencing Brain Death, Says Macron (BBC)
Merkel & Stoltenberg Slam Macron’s ‘Brain-Dead NATO’ Comment (RT)
Big Tech Is Dragging Us Towards The Next Financial Crash (G.)
Fed Goes Nuts with Repos & T-Bills but Sheds Mortgage Backed Securities (WS)
Colonel Vindman Is an ‘Expert’ With an Agenda (Giraldi)
Obama Admin Tried To Partner With Hunter Biden’s Ukraine Gas Firm (Solomon)
Assange Lawyers’ Links To US Govt & Bill Browder (Komisar)
Brazil Court Ruling Could Free Lula (BBC)
Human Population Came From Our Ability To Cooperate (PhysOrg)

 

 

A slow quarter for French arms sales?

NATO Alliance Experiencing Brain Death, Says Macron (BBC)

President Emmanuel Macron of France has described Nato as “brain dead”, stressing what he sees as waning commitment to the transatlantic alliance by its main guarantor, the US. Interviewed by the Economist, he cited the US failure to consult Nato before pulling forces out of northern Syria. He also questioned whether Nato was still committed to collective defence. German Chancellor Angela Merkel, a key ally, said she disagreed with Mr Macron’s “drastic words”.


Russia, which sees Nato as a threat to its security, welcomed the French president’s comments as “truthful words”. Nato, which celebrates 70 years since its founding at a London summit next month, has responded by saying the alliance remains strong. “What we are currently experiencing is the brain death of Nato,” Mr Macron told the London-based newspaper. He warned European members that they could no longer rely on the US to defend the alliance, established at the start of the Cold War to bolster Western European and North American security.

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Oh wait, it’s time to play good cop bad cop. Gotcha.

Merkel & Stoltenberg Slam Macron’s ‘Brain-Dead NATO’ Comment (RT)

NATO is alive and well and integral to Europe’s security, German chancellor Angela Merkel and NATO Secretary Jens Stoltenberg have insisted, hitting back at French President Emmanuel Macron’s claim the alliance is “brain-dead.” Macron’s “drastic words” were “unnecessary, even if we do have problems and must get it together,” Merkel complained at a Berlin news conference on Thursday, insisting the “transatlantic partnership is indispensable for us.” Stoltenberg backed her up, declaring “European unity cannot replace transatlantic unity,” and warning that the EU cannot defend Europe without outside assistance. When the UK finally leaves the alliance, some 80 percent of NATO’s defense will be funded by non-EU countries, he warned.

The general secretary praised Germany as “the heart of NATO” and lauded Merkel’s government for boosting its military spending. With most of NATO’s member countries failing to chip in their promised 2 percent of GDP, Germany announced on Thursday it hopes to hit that target for the first time by 2031 – seven years later than the date agreed upon by the alliance’s members in 2014. That fervent defense of the military bloc’s image hardly addressed the problems brought up by Macron, though. Macron had urged France’s fellow NATO members to “reassess the reality of what NATO is in light of the commitment of the United States” in an interview with The Economist published Thursday, suggesting “we are currently experiencing the brain-death of NATO” and lamenting that Europe was losing its grip on its “destiny.”

After the US’ unilateral decision to pull troops out of Syria without consulting the rest of NATO, Europe can hardly trust the Americans to defend it, Macron suggested.

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I think it’s the Fed, not Apple.

Big Tech Is Dragging Us Towards The Next Financial Crash (G.)

In every major economic downturn in US history, the ‘villains’ have been the ‘heroes’ during the preceding boom,” said the late, great management guru Peter Drucker. I cannot help but wonder if that might be the case over the next few years, as the United States (and possibly the world) heads toward its next big slowdown. Downturns historically come about once every decade, and it has been more than that since the 2008 financial crisis. Back then, banks were the “too-big-to-fail” institutions responsible for our falling stock portfolios, home prices and salaries. Technology companies, by contrast, have led the market upswing over the past decade. But this time around, it is the big tech firms that could play the spoiler role.

You wouldn’t think it could be so when you look at the biggest and richest tech firms today. Take Apple. Warren Buffett says he wished he owned even more Apple stock. (His Berkshire Hathaway has a 5% stake in the company.) Goldman Sachs is launching a new credit card with the tech titan, which became the world’s first $1tn market-cap company in 2018. But hidden within these bullish headlines are a number of disturbing economic trends, of which Apple is already an exemplar. Study this one company and you begin to understand how big tech companies – the new too-big-to-fail institutions – could indeed sow the seeds of the next crisis. No matter what the Silicon Valley giants might argue, ultimately, size is a problem, just as it was for the banks. This is not because bigger is inherently bad, but because the complexity of these organisations makes them so difficult to police. Like the big banks, big tech uses its lobbying muscle to try to avoid regulation. And like the banks, it tries to sell us on the idea that it deserves to play by different rules.

Consider the financial engineering done by such firms. Like most of the largest and most profitable multinational companies, Apple has loads of cash – around $210bn at last count – as well as plenty of debt (close to $110bn). That is because – like nearly every other large, rich company – it has parked most of its spare cash in offshore bond portfolios over the past 10 years. This is part of a Kafkaesque financial shell game that has played out since the 2008 financial crisis. Back then, interest rates were lowered and central bankers flooded the economy with easy money to try to engineer a recovery. But the main beneficiaries were large companies, which issued lots of cheap debt, and used it to buy back their own shares and pay out dividends, which bolstered corporate share prices and investors, but not the real economy. The Trump corporate tax cuts added fuel to this fire. Apple, for example, was responsible for about a quarter of the $407bn in buy-backs announced in the six months or so after Trump’s tax law was passed in December 2017 – the biggest corporate tax cut in US history.

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Will future history books recognize that the Fed collapsed the economy, or will they say it happened DESPITE their genius interventions?

Fed Goes Nuts with Repos & T-Bills but Sheds Mortgage Backed Securities (WS)

Total assets on the Fed’s balance sheet, released today, jumped by $94 billion over the past month through November 6, to $4.04 trillion, after having jumped $184 billion in September. Over those two months combined, as the Fed got suckered by the repo market, it piled $278 billion onto it balance sheet, the fastest increase since the post-Lehman month in late 2008 and early 2009, when all heck had broken loose – this is how crazy the Fed has gotten trying to bail out the crybabies on Wall Street:

In response to the repo market blowout that recommenced in mid-September, the New York Fed jumped back into the repo market with both feet. Back in the day, it used to conduct repo operations routinely as its standard way of controlling short-term interest rates. But during the Financial Crisis, the Fed switched from repo operations to emergency bailout loans, zero-interest-rate policy, QE, and paying interest on excess reserves. Repos were no longer needed to control short-term rates and were abandoned.


Then in September, as repo rates spiked, the New York Fed dragged its big gun back out of the shed. With the repurchase agreements, the Fed buys Treasury securities and mortgage-backed securities guaranteed by Fannie Mae and Freddie Mac, or Ginnie Mae, and hands out cash. When the securities mature, the counter parties are required to take back the securities and return the cash plus interest to the Fed. Since then, the New York Fed has engaged in two types of repo operations: Overnight repurchase agreements that unwind the next business day; and multi-day repo operations, such as 14-day repos, that unwind at maturity, such as after 14 days.

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“Vindman’s concern is all about Ukraine without any explanation of why the United States would benefit from bilking the taxpayer to support a foreign deadbeat one more time. ”

Colonel Vindman Is an ‘Expert’ With an Agenda (Giraldi)

Washington inside-the-beltway and the Deep State choose to blame the mess in Ukraine on Russian President Vladimir Putin and the established narrative also makes the absurd claim that the political situation in Kiev is somehow important to US national security. The preferred solution is to provide still more money, which feeds the corruption and enables the Ukrainians to attack the Russians. Colonel Vindman, who reported to noted hater of all things Russian Fiona Hill, who in turn reported to By Jingo We’ll Go To War John Bolton, was in the middle of all the schemes to bring down Russia. His concern was not really over Trump vs. Biden. It was focused instead on speeding up the $380 million in military assistance, to include offensive weapons, that was in the pipeline for Kiev.

And assuming that the Ukrainians could actually learn how to use the weapons, the objective was to punish the Russians and prolong the conflict in Donbas for no reason at all that makes any sense. Note the following additional excerpt from Vindman’s prepared statement: “….I was worried about the implications for the US government’s support of Ukraine…. I realized that if Ukraine pursued an investigation into the Bidens and Burisma, it would likely be interpreted as a partisan play which would undoubtedly result in Ukraine losing the bipartisan support it has thus far maintained.” Vindman’s concern is all about Ukraine without any explanation of why the United States would benefit from bilking the taxpayer to support a foreign deadbeat one more time.

One wonders if Vindman was able to compose his statement without a snicker or two intruding. He does eventually go on to cover the always essential national security angle, claiming that “Since 2008, Russia has manifested an overtly aggressive foreign policy, leveraging military power and employing hybrid warfare to achieve its objectives of regional hegemony and global influence. Absent a deterrent to dissuade Russia from such aggression, there is an increased risk of further confrontations with the West. In this situation, a strong and independent Ukraine is critical to US national security interests because Ukraine is a frontline state and a bulwark against Russian aggression.”

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“Burisma’s own American legal team was lobbying State to help eliminate the corruption allegations against it in Ukraine.”

Obama Admin Tried To Partner With Hunter Biden’s Ukraine Gas Firm (Solomon)

A State Department official who served in the U.S. embassy in Kiev told Congress that the Obama administration tried in 2016 to partner with the Ukrainian gas firm that employed Hunter Biden but the project was blocked over corruption concerns. George Kent, the former charge d’affair at the Kiev embassy, said in testimony released Thursday that the State Department’s main foreign aid agency, known as USAID, planned to co-sponsor a clean energy project with Burisma Holdings, the Ukrainian gas firm that employed Hunter Biden as a board member. At the time of the proposed project, Burisma was under investigation in Ukraine for alleged corruption. Those cases were settled in late 2016 and early 2017. Burisma contested allegations of corruption but paid a penalty for tax issues.

Kent testified he personally intervened in mid-2016 to stop USAID’s joint project with Burisma because American officials believed the corruption allegations against the gas firm raised concern. “There apparently was an effort for Burisma to help cosponsor, I guess, a contest that USAID was sponsoring related to clean energy. And when I heard about it I asked USAID to stop that sponsorship,” Kent told lawmakers. When asked why he intervened, he answered: “”Because Burisma had a poor reputation in the business, and I didn’t think it was appropriate for the U.S. Government to be co-sponsoring something with a company that had a bad reputation.”

[..] And internal State memos I obtained this week under FOIA show Hunter Biden and Archer had multiple contacts with Secretary of State John Kerry and Deputy Secretary Tony Blinken in 2015-16, and that Burisma’s own American legal team was lobbying State to help eliminate the corruption allegations against it in Ukraine. Hunter Biden’s name was specifically invoked as a reason why State officials should assist, the memos show. A month after Burisma’s contact with State, Joe Biden leveraged the threat of withholding U.S. foreign aid to force Ukraine to fire its chief prosecutor, Viktor Shokin, who at the time was overseeing the Burisma probe.

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Yes, worrying.

Assange Lawyers’ Links To US Govt & Bill Browder (Komisar)

Now look at another Assange link. Mark Summers, who is representing Julian Assange is, along with Bailin, a member of Matrix Chambers. But while he is Assange’s lawyer, Summers is acting for Assange’s persecutor, the U.S. government, in a major extradition case involving executives of Credit Suisse in 2013 making fake loans and getting kickbacks from Mozambique government officials. Does Assange, or those who care about his interests, know he is part of chambers working for the U.S. government? And where do you put this factoid? Alex Bailin is representing Andrew Pearse, one of the Credit Suisse bankers that the U.S. government, represented by Summers, is seeking to extradite!

But there’s chambers where two members are each supporting both Browder and Assange. Geoffrey Robertson is founder of Doughty Street Chambers. He is also a longtime Browder / Magnitsky story promoter. He has pitched implementation of a Magnitsky Act in Australia and has served Browder in UK court. In 2017 British legal actions surrounding an inquest into the death of Alexander Perepilichnyy, he represented Browder, who claimed that the Russian, who died of a heart attack, was somehow a victim of Russian President Putin. Perepilichnyy had lost money in investments he was handling for clients and had to get out of town.

Needing support, he decamped to London and gave Browder documents relating to his client’s questionable bank transfers. He died after a jog, Browder claimed he was poisoned by a rare botanical substance, obviously ordered by Putin, but forensic tests found that untrue. Robertson accused local police of a cover-up. He is a legal advisor to Assange and is regularly interviewed by international media about the case. Jennifer Robinson of Doughty Street Chambers also has a Browder connection. She is acting for Paul Radu a journalist and official of the Organized Crime and Corruption Reporting Project (OCCRP) which is being sued by an Azerbaijan MP. OCCRP is a Browder collaborator.

Browder admits in a deposition that OCCRP prepared documents he would give to the U.S. Justice Department to accuse the son of a Russian railway official of getting $1.9 million of $230 million defrauded from the Russian Treasury. The case was settled when the U.S. couldn’t prove the charge, and the target declined to spend more millions of dollars in his defense. OCCRP got the first Magnitsky Human Rights award, set up for Browder’s partners and acolytes. Robinson is also the longest-serving member of Assange’s legal team. She acted for Assange in the Swedish extradition proceedings and in relation to Ecuador’s request to the Inter-American Court of Human Rights Advisory Opinion proceedings on the right to asylum.

Why did Assange or his advisors choose lawyers associated with the interests of the U.S. government and Browder? Or how could those lawyers be so ignorant about the facts of Browder’s massive tax evasion and his Magnitsky story fabrications?

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Imagine a country so corrupt you can put your political counterparts on trial.

Brazil Court Ruling Could Free Lula (BBC)

Brazil’s top court has voted to overturn a rule about the jailing of criminals – a change which could lead to ex-President Luiz Inácio Lula da Silva being freed from custody. The ruling, announced on Thursday, stipulates that convicted criminals should go to prison only after they have exhausted their appeal options. The change could lead to the release of thousands of prisoners, including Lula. The left-winger led Brazil between 2003 and 2010, but was jailed last year. He was favourite to win last year’s presidential election but was imprisoned after being implicated in a major corruption investigation.


However, even if he is released, he will be barred from standing for office because of his criminal record. Lula has consistently denied all the accusations against him and claims they are politically motivated. After he was barred from running, right-wing candidate Jair Bolsonaro went on to win the race. Lula’s lawyers say they will seek the former president’s “immediate release” after speaking to him on Friday.

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And here I was thinking opposable thumbs.

Human Population Came From Our Ability To Cooperate (PhysOrg)

Humans may owe their place as Earth’s dominating species to their ability to share and cooperate with each other, according to a new study published in the Journal of Anthropological Research. In “How There Got to Be So Many of Us: The Evolutionary Story of Population Growth and a Life History of Cooperation,” Karen L. Kramer explores the deep past to discover the biological and social underpinnings that allowed humans to excel as reproducers and survivors. She argues that the human tendency to bear many children, engage in food sharing, division of labor, and cooperative childcare duties, sets us apart from our closest evolutionary counterparts, the apes.

In terms of population numbers, few species can compare to the success of humans. Though much attention on population size focuses on the past 200 years, humans were incredibly successful even before the industrial revolution, populating all of the world’s environments with more than a billion people. Kramer uses her research on Maya agriculturalists of Mexico’s Yucatan Peninsula and the Savanna Pumé hunter-gatherers of Venezuela to illustrate how cooperative childrearing increases the number of children that mothers can successfully raise and—in environments where beneficial—even speed up maturation and childbearing. Kramer argues that intergenerational cooperation, meaning that adults help support children, but children also share food and many other resources with their parents and other siblings, is at the center of humans’ demographic success. “Together our diet and life history, coupled with an ability to cooperate, made us really good at getting food on the table, reproducing, and surviving,” Kramer writes.

[..] She found that Maya children contributed a substantial amount of work to the family’s survival, with those aged 7-14 spending on average 2 to 5 hours working each day, and children aged 15-18 spending as much as their parents, about 6.5 hours a day. Labor type varied, with younger children doing much of the childcare, older children and fathers fill in much of the day-today cost of growing and processing food and running the household. “If mothers and juveniles did not cooperate, mothers could support far fewer children over their reproductive careers,” Kramer writes. “It is the strength of intergenerational cooperation that allows parents to raise more children than they would otherwise be able to on their efforts alone.”

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Apr 262019
 


Francisco Goya The dummy 1791

 

Trump Has Just Taken The Biggest Economic Gamble Of His Presidency (AEP)
A Nation at War With Itself (Pat Buchanan)
Trump Attacks Democrat ‘Coup’ In 1st Post-Mueller Interview (RT)
US Is Investigating Assange Under Espionage Act – WikiLeaks (NP)
UN Special Rapporteur On Privacy Meets Assange In Prison: “I Will Act” (Maurizi)
Macron Responds To Gilets Jaunes Protests With €5 Billion Tax Cuts (G.)
Macron: Smaller Schengen Zone Because EU Migration Policies ‘Do Not Work’ (RT)
Irish Backstop Could Undermine EU Standards – Report (G.)
Juncker Refuses To Reject Huawei ‘Just Because It’s Chinese’ (RT)
Huawei Leak Highlights Collapse Of Discipline In May’s Cabinet (G.)
European Equities May Benefit As $1 Trillion In US Buybacks Vanish (ZH)
Universe Expands Faster Than Expected – NASA

 

 

Ambrose calls the depletion of Ghawar a “first-order shock”. Common knowledge though. Still, Trump may not be aware of it either if Ambrose isn’t.

Trump Has Just Taken The Biggest Economic Gamble Of His Presidency (AEP)

Donald Trump’s double strangulation of Iran and Venezuela is reducing spare capacity in the global oil markets to wafer-thin levels very fast. If anything goes wrong in the geopolitical cauldron of world energy over the next six months, we will discover whether Saudi Arabia really is capable of cranking up an extra 2 million barrels a day of crude. What we learnt from the rare glimpse of Saudi Aramco’s books this month is that the legendary Ghawar field is badly depleted. It cannot pump more that 3.8m barrels a day. This is a first-order shock. The company has always asserted with magisterial confidence that it can produce 5m barrels a day without difficulty.

Jean-Louis Le Mee, from Westbeck Capital, says the physical oil markets are on fire. They are heading for a supply deficit of 1.3m barrels a day by the third quarter even if OPEC matches every barrel of lost oil from Iran sanctions. “These numbers should have every investor worried,” he said. Global spare capacity is arguably as low today as it was during the great oil shocks of the last half century. We are skating on thin ice. The immediate wild card is renewed fighting in Libya but other supply problems are stacking up fast. Draconian new rules on shipping fuel to lower sulphur emissions imply a surge in demand for variants of diesel. Bank of America says this will add 1.1m barrels a day in short-term crude demand over coming months. “We see a risk of $US100 Brent by year-end,” it said.

The options markets are not priced for this so the theatrics could be spectacular. Libya is again on the cusp of full-blown civil war after the fateful march on Tripoli by general Khalifa Haftar, the mercurial Nasserist of Benghazi. The National Oil Corporation warns that a free-for-all by rival militias could cause a near total collapse in crude exports. The world could lose another 700,000 barrels a day. Brent crude has risen to a six-month high of $US74.50, up 25 per cent from its average levels over the winter. It has not yet reached the pain threshold for Europe or emerging markets but it is getting close. Oil has of course been much higher in the past – $US148 in 2008 – but the nominal price is not the macro-economic variable that matters. Trouble starts earlier if crude is rising because of a negative supply shock. That is what we face today.

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No, I haven’t become a fan of Buchanan. But his view warrants attention.

“How does a nation so divided stand united in the world? And if it cannot stand united in the world, how long does it remain a great nation?”

A Nation at War With Itself (Pat Buchanan)

President Donald Trump has decided to cease cooperating with what he sees, not incorrectly, as a Beltway conspiracy that is out to destroy him. “We’re fighting all the subpoenas,” Trump said Wednesday. “These aren’t, like, impartial people. The Democrats are out to win in 2020.” Thus the Treasury Department just breezed by a deadline from the House Ways and Means Committee to deliver Trump’s tax returns. Thus the White House will invoke executive privilege to deny the House Judiciary Committee access to ex-White House counsel Don McGahn, who spent 30 hours being interrogated by Robert Mueller’s team. Thus the Justice Department is withholding from the Oversight Committee subpoenaed documents dealing with the decision to include a question on the 2020 Census about citizenship status.

Across the capital, the barricades are going up figuratively as they did physically in the 1960s and ’70s. Once more, it’s us against them. Cognizant of the new reality, Trump seems to be saying: These House investigations constitute a massive political assault, in collusion with a hostile media, to destroy my presidency. We do not intend to cooperate in our own destruction. We are not going to play our assigned role in this scripted farce. We will resist their subpoenas all the way to November 2020. Let the people then decide the fate and future of the Trump presidency — and that of Nancy Pelosi’s House.

[..] Whatever may be said about the “deplorables,” they are not obtuse. They do not believe that people who call them racists, sexists, nativists and bigots are friends and merely colleagues of another party or persuasion. Trump’s defiance of subpoenas, however, will force the more moderate Democrats to join the militants in calling for hearings on impeachment in the House Judiciary Committee, which is where we are headed. The media are already salivating over the possible removal of a president they have come to loathe more than their great nemeses of the 20th century — Joe McCarthy and Richard Nixon. And the media will reward those who echo the call for impeachment. This week, two more Democrats running for president, including Sen. Kamala Harris, came aboard. Soon, the House will capitulate to the clamor and the stampede will be on.

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Sometimes I think the Democrats work for Trump. They hand him everything on a platter by getting lost in a fictional narrative.

Trump Attacks Democrat ‘Coup’ In 1st Post-Mueller Interview (RT)

Trump unloaded on Democrats, accusing them of an “attempted coup” in his first interview since the release of the Mueller report. Rehashing his usual rhetoric, Trump called the ‘Russiagate’ flop “bigger than Watergate.” On a victory lap since his election campaign was cleared of collusion with Moscow, Trump relied on a few tried and trusted tropes as he bashed the “13 angry Democrats” and “dirty cops” from the FBI for sparking the Russia investigation in an interview with Fox News’ Sean Hannity. The long-awaited publication of the redacted version of the Mueller report appears to have given Trump a huge boost of confidence as he sounded more assertive than ever, taking aim at his political opponents and doubling down on his innocence.


“The greatest scandal in the history of our country. Bigger than Watergate, because it means so much. This wasn’t stealing information from an office in the Watergate apartments. This was an attempted coup. It’s inconceivable. Like a third world country.” Trump lashed out at former rival Hillary Clinton for “destroying the lives” of his staffers, and blasted the FBI for going light on her during her private server investigation. But now, he said, the “tables have turned” and “it’s time to look at the other side,” calling the Russia investigation an “attempted overthrow of the United States government” and “a disgraceful thing.”

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Death penalty. For which UK cannot extradite. US is talking to Daniel Domscheit-Berg, who had a big fall-out with Assange. Letter sent to him is underneath the article.

US Is Investigating Assange Under Espionage Act – WikiLeaks (NP)

Right after the London police carried Julian Assange from the Ecuadorian embassy, the United States demanded his extradition. A March 2018 indictment charges him with conspiracy to commit computer intrusion, carrying a maximum penalty of five years in prison. But that is not the entire truth. Only one day after writing the indictment, the US Attorney’s Office admitted it was also investigating Assange for the „unauthorized receipt and dissemination of secret information“. That is what the Department of Justice wrote in a letter to former WikiLeaks spokesperson Daniel Domscheit-Berg, which we are publishing in full.

This accusation can be charged under the Espionage Act of 1917, a World War I era federal law intended to protect military secrets which has also been used to charge Chelsea Manning and Edward Snowden. Convictions under the Espionage Act can be punished by death. The death penalty is not only inhumane and archaic, it has legal consequences: The United Kingdom is not allowed to extradite Assange if he faces the death penalty. Charging Assange for publishing classified information is an attack on press freedom, „obtaining and disseminating secret information“ is the very task of journalism. If WikiLeaks is charged, every journalist and media outlet publishing secret information will be on trial. While the Obama administration debated this dangerous precedent, the Trump government shows no restraints.

[..] In Virginia, a federal grand jury is secretly investigating Assange and WikiLeaks. In December 2017, an FBI agent filed an affidavit to support charging Assange with a computer hacking conspiracy. Based on that, the grand jury issued an indictment against Assange on March 6, 2018. This document was unsealed and published immediately after his arrest in London. It is the official justification for the extradition request. But that is not the whole story. Just one day after writing the indictment, on March 7, 2018, the same US Attorney, Tracy Doherty-McCormick, wrote a letter to the lawyers of Daniel Domscheit-Berg in Germany.

Sporting the Department of Justice seal, the chief federal prosecutor requests a „voluntary questioning“ of Domscheit-Berg, explicitly „about possible violations of US federal criminal law regarding the unauthorized receipt and dissemination of classified information“ – a drastic accusation under the Espionage Act. The US Attorney goes on to explain some conditions for Domscheit-Berg. He must answer all questions fully and truthfully, the US may use all statements and information for criminal investigations and cross-examination. In return, whatever Domscheit-Berg testifies will not be used for prosecutions against him.

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Bit late perhaps?!

UN Special Rapporteur On Privacy Meets Assange In Prison: “I Will Act” (Maurizi)

He is the first person who has been able to visit Julian Assange at the Belmarsh prison besides Assange’s lawyers. In fact, although two weeks have passed since the arrest of the WikiLeaks’ founder, no other visitors are allowed apart from his lawyers. The UN Special Rapporteur on Privacy, Professor Joe Cannataci, just visited Julian Assange at the Belmarsh prison, a high security prison marked by the strictest prison regime in the UK, and in fact even visitors have to undergo to intensive controls, including police interviews, and of course meetings are monitored. Repubblica just interviewed the UN Rapporteur Cannataci.

Professor Cannataci, how did Assange seem to be doing? «My visit went well, Mr Assange was ready to answer my questions. We have already started gathering facts and asked questions of Assange’s legal team and of the Ecuadorian ambassador in London»

How is Julian Assange? We were all shocked by his appearance the day of his arrest… «I am not a physician, and so I am unable to make a medical assessment of him and of course I met him in prison, which is never a pleasant place to meet, however, it seemed to me he was in fairly good condition».

Were you able to talk to him with some privacy, or were you under surveillance? «No, my impression was that the UK authorities assured us a level of privacy intended for meetings with legal counsel. Usually in the UK prisons you have the following rules: for social meetings, like meetings with relatives, you don’t expect privacy, whereas meetings with legal counsels are usually not subjected to monitoring. These kinds of meetings are held in special places, usually 10-15 small rooms where detainees can meet their lawyers confidentially. I had asked for a confidential meeting and I am happy that the UK government agreed to provide us such a private meeting».

What are you investigating exactly, in relation to this meeting with Julian Assange? «At the end of March Mr Assange submitted an official complaint, which said that his right to privacy had been infringed during his time in the embassy of Ecuador. Together with my team, I made a preliminary assessment to see if his privacy has been infringed, therefore I am gathering the facts, these facts lead to a number of questions about behaviour which took place in the embassy. Today we are still in the preliminary stage. After my meeting with Mr Assange, I had a meeting with his legal team and then a meeting with the ambassador of Ecuador».

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I tell you: Macron simply doesn’t know he’s lost it all. He’s blind: “Did we take a wrong turn?’ I believe quite the opposite.” And that in the face of 25 weekends of protests against him.

Macron Responds To Gilets Jaunes Protests With €5 Billion Tax Cuts (G.)

Emmanuel Macron has vowed to make his style of politics more “humane”, but insisted he would press on with his project to liberalise the French economy and overhaul its welfare state despite five months of demonstrations by gilets jaunes (yellow vest) anti-government protesters. In his first press conference in two years as president, Macron promised €5bn worth of cuts to income tax for lower and average earners as well as pension rises for the poorest and vowed no more schools or hospitals would be closed during his presidency, as he responded to protests.

The centrist politician conceded that he needed to inject more “humanity” into his style of governance but insisted he would not make changes to his pro-business programme, despite the ongoing anti-government Saturday protests by gilets jaunes, which resulted in sporadic rioting and arson in Paris and other cities. Macron said he recognised the protesters’ “just demands” and “anger and impatience for change” and their feeling of not being taken into account by the “elites”, including the presidency, but public order must now be restored. He said although he respected the demonstrators who gathered at the start of the movement in November, he said it had “transformed progressively” and been marred by episodes of antisemitic violence, homophobia and rioting.

He said he stood by his project to liberalise the French economy, defending his controversial cuts to its wealth tax, which protestors sought to overturn. He said France was unique in Europe in not having dealt with its structural problem of mass unemployment so he would not go back on his planned “transformation” of the country. He said: “I asked myself: ‘Should we stop everything that was done over the past two years? Did we take a wrong turn?’ I believe quite the opposite.” [..] He promised to scrap the École nationale d’administration elite graduate training school for French civil servants and public officials. Saying the French style of governance needed to shift, Macron said he planned to make it easier for citizens to propose national referendums, and also would introduce 20% proportional representation into the lower house of parliament.

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Schengen, Dublin, they don’t serve Macron’s career, so out with them.

Macron: Smaller Schengen Zone Because EU Migration Policies ‘Do Not Work’ (RT)

The Schengen agreement and the current migrant-sharing mechanism are deeply flawed and need urgent fixing, French President Emmanuel Macron has said. Europe must “have borders” even if it means a smaller Schengen zone, he said. In the first major press conference since the Yellow Vest movement took off in November, Macron unveiled a range of policy measures to placate the protesters, including a proposed overhaul of the European-wide migration policy and the Schengen agreement. The embattled French leader argued that the agreement that guarantees free movement across the Schengen area, while “wonderful,” does not work anymore. The same, he said, applies to the Dublin Regulation that determines which EU member-state is responsible for accepting asylum seekers.


Under the current version of the agreement, which came into force in 2013 and applies to all EU member-states except Denmark, the main criteria for determining responsibility is the first point of entry. “The common borders, Schengen, Dublin agreements do not work anymore,” Macron said, adding that it is essential for Europe to make “profound” changes in its way of handling migrant arrivals. Macron called for reinforced border security, which might entail having a Schengen “with fewer states.” The Schengen area comprises 26 states, including 22 EU member-states and four non-EU countries: Norway, Iceland, Switzerland and Liechtenstein. It is named after the 1985 agreement that abolished internal borders allowing people within the zone to travel freely from one country to another.

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Trojan horse.

Irish Backstop Could Undermine EU Standards – Report (G.)

It is a dastardly trap, designed to lock freedom-loving Britain into the European Union’s protectionist customs union: that is the argument against the so-called backstop, cited by hardline Brexit advocates as the main reason why they have thrice voted down Theresa May’s deal with the European Union. But as the dust settles after months of chaos in Westminster, suspicions are growing on the other side of the Channel that the backstop could in fact be the very opposite: a brilliant deception device constructed by crack UK negotiators, which would allow a more reckless British prime minister to undermine the EU’s green and social standards while still keeping access to the European single market.

A new report, commissioned by the German Green party and seen by the Guardian, will exacerbate concerns in Berlin over the small print of the withdrawal agreement in its current form. The deal, agreed between the EU and the UK in November 2018 but voted down three times in the House of Commons, states that the whole of the UK would remain in a de facto customs union with the EU until a trade and security agreement has been reached that prevents the setting up of a hard border between the Republic of Ireland and Northern Ireland. nTo prevent Britain from diverting from EU standards on environmental or social protection after the backstop has come into effect, the customs territory would “include the corresponding level playing field commitments and appropriate enforcement mechanisms to ensure fair competition between the EU27 and the UK”.

The new German report, however, warns that the wording of the deal means the EU side will find it impossible to stop a more aggressive Britain led by a Boris Johnson or a Jacob Rees-Mogg from flouting such standards while still being able to export British products into the single market. “If the EU wants to have a level playing field, it must not just set up the goals but also assign a referee,” said the author of the report, EU law expert Dr René Repasi. “At the moment it has even given the UK licence to assign its own players with officiating the match.”

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On 5G, individual countries make the decisions.

Juncker Refuses To Reject Huawei ‘Just Because It’s Chinese’ (RT)

European Commission President Jean-Claude Juncker says he won’t bar Chinese firms like Huawei from doing business with Europe, as long as they respect market rules, despite continued US pressure to ban the company. “We are not rejecting someone because he is coming from faraway, because he is Chinese, the rules have to be respected,” Juncker said at a press conference with Japanese PM Shinzo Abe on Thursday. Asked about his response to the US call to “eliminate” Chinese telecoms equipment from Europe’s 5G buildout, Juncker was defiant. “The European Union and our internal market are open markets and all those respecting our rules governing this internal market are welcome,” he said.


Last month, Europe’s Parliament passed a resolution “expressing their deep concern” about alleged Chinese cybersecurity threats, but a subsequent statement from the European Commission regarding 5G cybersecurity did not include such language, instead merely urging member states to develop a “toolbox of mitigating measures” to combat cybersecurity risks to their growing 5G infrastructure. The US has leaned heavily on allies to keep Huawei and other Chinese telecoms out of their countries, claiming the company could act as a spy for the Chinese government. Washington has even threatened to withhold intelligence from Germany over their refusal to ban the Chinese firm, pressure China’s foreign minister has called “abnormal” and “immoral.”

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May invites Huawei. Will she stand up to Trump in other areas too?

Huawei Leak Highlights Collapse Of Discipline In May’s Cabinet (G.)

Leaks from deep within Theresa May’s bitterly divided administration have become widespread and common: as one despairing official remarked recently, “this government is a sieve”. But the revelation of the highly sensitive news that ministers have decided to set aside cybersecurity concerns and involve the Chinese firm Huawei in the creation of Britain’s 5G network is regarded by many as a leak too far. The decision was taken at the national security council, on which ministers sit alongside officials and members of the security services. The secrecy of its discussions has never before been breached. A full-scale inquiry is now expected to be launched, but a slew of other briefings and counter-briefings from private meetings in recent weeks and months has not just gone unpunished but become almost unremarkable.


There are several, allied reasons for this pervasive culture of briefing and counter-briefing, which means multiple competing accounts of cabinet meetings are available shortly after ministers walk out of Downing Street. One is simply the ready availability of instant electronic communication – a string of WhatsApp messages is a lot quicker and more straightforward than the old-fashioned gossip over lunch or in a Westminster bar (though that still happens too, of course). Another is the historic significance of the issues at stake and the lack of trust on both sides of the Brexit debate, which means all the key players want to ensure their point is heard even if they lost the argument in the room.

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The Fed will make up the difference. Can’t have stocks going down.

European Equities May Benefit As $1 Trillion In US Buybacks Vanish (ZH)

European equities may start to finally see some love, as they are now positioned to take advantage of one significant coming tailwind from the U.S., according to Bloomberg. Over the next 12 months, US stocks are going to lose a significant amount of support that they have received from buybacks, as the nearly $1 trillion buyback bonanza that has fueled stock purchases in the United States starts to come to an end, according to Sanford C. Bernstein strategists. This could be an area where European stocks, due to their low dependence on buybacks, could see help as a result. Bernstein strategists led by Inigo Fraser-Jenkins said: “This would remove one advantage of U.S. equities over Europe. As the buyback support is reduced it will make a stronger relative case for Europe.”


And the decision of the U.S. central bank to hold off on rate increases may have temporarily reduced concerns about debt hurting equities, but the topic is still on the table and credit spreads are expected to keep widening over the next year. Furthermore, the significance of share repurchases to the US rally has been pronounced, with $1 trillion in buybacks in just 2018 alone, far overshadowing the $100 billion in net inflows from active and passive funds. And even though European equities have rallied to the tune of more than $1.5 trillion since December’s lows, shorting these stocks remains a popular trade globally, according to Bank of America Corp.’s latest fund manager survey. And many traders are still on the sidelines, as Europe’s ugly politics and mixed economic data continues to weigh on sentiment.

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To find this out, we must travel back in time.

Universe Expands Faster Than Expected – NASA

The universe is expanding considerably faster than it should be, Nasa has confirmed. The space agency’s Hubble Space Telescope shows that it is growing about 9 per cent faster than had been expected, based on the trajectory it started with shortly after the Big Bang, according to astronomers. While such a discrepancy had already been suggested, the new measurements reduce the chance this is a mistake to just one in 100,000. Such a confirmation could require astronomers to find new physics theories to explain the universe‘s strange behaviour. “This mismatch has been growing and has now reached a point that is really impossible to dismiss as a fluke.

This is not what we expected,” says Adam Riess, Bloomberg Distinguished Professor of physics and astronomy at Johns Hopkins University, Nobel laureate and the project’s leader. The speed of the universe’s expansion, known as the Hubble constant, is a central part of physics and our understanding of the universe. But it has repeatedly been observed to behave unexpectedly – the more astronomers find out about it, the more wrong it appears – in ways that have forced scientists to wonder whether our assumptions about it had been wrong. The new study confirms that speculation, and requires further work to explain how exactly the universe is growing.

The research saw Professor Riess and his team analyse light from 70 stars in a galaxy near ours, known as the Large Magellanic Cloud, using a new method that allowed them to capture the stars quickly. The stars they observed are called Cepheid variables, and change brightness predictably, allowing them to be used to measure intergalactic distances. The new method allowed the researchers to measure many more of those stars far more quickly. Normally, Hubble can only look at one star each time it takes one of its 90-minute orbits around Earth, but the new method allowed it to see dozens in that same time.

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Apr 212019
 


Rembrandt van Rijn The deposition 1632-33

 

Yellow Vests Back In Action Despite ‘Unifying’ Notre Dame Disaster (RT)
Mueller Team Ignored Findings Of Former US Intelligence Officials (SP)
The Deep State vs. WikiLeaks (Escobar)
Julian Assange Put Through ‘Hell’ At Embassy, Says Former Diplomat (Sky)
UK PM May To Be Told To Quit By Top Conservative (R.)
London Home Prices Had Biggest Monthly Drop Since Lehman (DQ)
Battle To Save Amphibians From Global Killer Disease (G.)
Emissions From Thawing Arctic Permafrost 12 Times Higher Than Thought (Ind.)
Climate Change: The Facts – Our Greatest Threat, Laid Bare (G.)
Climate Change – The Facts (David Attenborough)

 

 

I predicted Macron would use the Notre Dame fire against the Yellow Vests, and he delivers. “We have to unify under our great leader, Me!”

Curious numbers here, 6 cops for every protester:

“The total number of people who took to the streets on Saturday reached 9,600, with 6,700 of them protesting in Paris, the Interior Ministry said.”

“Some 60,000 police officers were deployed across the country..”

Yellow Vests Back In Action Despite ‘Unifying’ Notre Dame Disaster (RT)

Yellow Vests protests brought clashes and tear gas back to the streets of Paris, despite politicians’ calls for “unity” in the wake of the Notre Dame fire. For protesters, the response to the fire only showed more inequality. Saturday’s protests mark the 23rd straight weekend of anti-government demonstrations, but the first since Notre Dame de Paris went up in flames on Monday. Officials were quick to criticize the protesters for returning to the streets so soon after the disaster. “The rioters will be back tomorrow,” Interior Minister Christophe Castaner told reporters on Friday. “The rioters have visibly not been moved by what happened at Notre-Dame.”


Joan of Arc monument, Toulouse

For many of the protesters, grief over the destruction of the 800-year-old landmark has made way for anger. With smoke still rising from Notre Dame, a group of French tycoons and businessmen pledged €1 billion to the cathedral’s reconstruction, money that the Yellow Vests say could be better spent elsewhere. “If they can give dozens of millions to rebuild Notre Dame, they should stop telling us there is no money to respond to the social emergency,” trade union leader Philippe Martinez told France 24. Some 60,000 police officers were deployed across the country, while a security perimeter was set up around Notre Dame in Paris.


A planned march that would have passed the site was banned by the authorities, but sporadic incidents of vandalism and looting took place across the city, with at least one car torched. There were also clashes between protesters and gendarmerie in the capital. The police used tear gas and water cannon to disperse the crowd, arresting 189 people, according to France Info. Yellow Vest rallies also took place in Nantes, Pau, Caen, Montbeliard, Bordeaux, Lyon and other French cities. The total number of people who took to the streets on Saturday reached 9,600, with 6,700 of them protesting in Paris, the Interior Ministry said.

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“How many of you wouldn’t be scared shitless by the head of the CIA declaring you the next target?”

Mueller Team Ignored Findings Of Former US Intelligence Officials (SP)

A group of former military and intelligence officials, Veteran Intelligence Professionals for Sanity (VIPS), conducted their own forensic tests that received a bit of attention in the United States press because they were some of the first people with prior backgrounds in government to question the central allegations of hacking into DNC servers. They asserted their examinations of the files showed DNC emails published by WikiLeaks were leaked, not hacked. However, the Mueller report makes no mention of the claims made by VIPS over the past two to three years—not even to debunk them.

The report stated, “Unit 26165 officers appear to have stolen thousands of emails and attachments, which were later released by WikiLeaks in July 2016.” But “appear to have” indicates the team did not have incontrovertible proof. They could only speculate. “The Office cannot rule out that stolen documents were transferred to WikiLeaks through intermediaries, who visited during the summer of 2016,” the report acknowledged. “For example, public reporting identified Andrew Müller-Maguhn as a WikiLeaks associate who may have assisted with the transfer of these stolen documents to WikiLeaks.”

Yet, this is wildly misleading. The source for this example is a 2018 profile of Müller-Maguhn by journalist Ellen Nakashima that was published by the Washington Post. Müller-Maguhn told Nakashima it “would be insane” for him to hand deliver sensitive files, especially when the CIA has labeled WikiLeaks a “non-state hostile intelligence service.” “How many of you wouldn’t be scared shitless by the head of the CIA declaring you the next target?,” he said.

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Comey didn’t want Assange’s knowledge to get public, because it would have killed the “Russians hacked the DNC” narrative. And that would be a threat to the whole Russiand-did-it story Mueller kept in his report. These guys are just story tellers, it’s fiction.

The Deep State vs. WikiLeaks (Escobar)

[..] it was only in 2017, in the Trump era, that the Deep State went totally ballistic; that’s when WikiLeaks published the Vault 7 files – detailing the CIA’s vast hacking/cyber espionage repertoire. This was the CIA as a Naked Emperor like never before – including the dodgy overseeing ops of the Center for Cyber Intelligence, an ultra-secret NSA counterpart. WikiLeaks got Vault 7 in early 2017. At the time WikiLeaks had already published the DNC files – which the unimpeachable Veteran Intelligence Professionals for Sanity (VIPS) systematically proved was a leak, not a hack. The monolithic narrative by the Deep State faction aligned with the Clinton machine was that “the Russians” hacked the DNC servers.

Assange was always adamant; that was not the work of a state actor – and he could prove it technically. There was some movement towards a deal, brokered by one of Assange’s lawyers; WikiLeaks would not publish the most damning Vault 7 information in exchange for Assange’s safe passage to be interviewed by the US Department of Justice (DoJ). The DoJ wanted a deal – and they did make an offer to WikiLeaks. But then FBI director James Comey killed it. The question is why. Some theoretically sound reconstructions of Comey’s move are available. But the key fact is Comey already knew – via his close connections to the top of the DNC – that this was not a hack; it was a leak.

Ambassador Craig Murray has stressed, over and over again how the DNC/Podesta files published by WikiLeaks came from two different US sources; one from within the DNC and the other from within US intel. There was nothing for Comey to “investigate”. Or there would have, if Comey had ordered the FBI to examine the DNC servers. So why talk to Julian Assange? The release by WikiLeaks in April 2017 of the malware mechanisms inbuilt in “Grasshopper” and the “Marble Framework” were indeed a bombshell. This is how the CIA inserts foreign language strings in source code to disguise them as originating from Russia, from Iran, or from China. The inestimable Ray McGovern, a VIPS member, stressed how Marble Framework “destroys this story about Russian hacking.”

No wonder then CIA director Mike Pompeo accused WikiLeaks of being a “non-state hostile intelligence agency”, usually manipulated by Russia. Joshua Schulte, the alleged leaker of Vault 7, has not faced a US court yet. There’s no question he will be offered a deal by the USG if he aggress to testify against Julian Assange. It’s a long and winding road, to be traversed in at least two years, if Julian Assange is ever to be extradited to the US.

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Moreno is a corrupt criminal.

Julian Assange Put Through ‘Hell’ At Embassy, Says Former Diplomat (Sky)

Julian Assange was always respectful but went through “hell” in the Ecuadorian embassy as officials tried to “break him down”, according to a former senior diplomat. Fidel Narvaez worked at the London embassy for six of the seven years the WikiLeaks figurehead lived there and says they became friends. Assange was evicted a few weeks ago after a change of government in Ecuador. Its new president, Lenin Moreno, publicly criticised the whistleblower and gave the impression the government ended his stay after growing tired of his alleged bad behaviour.


Assange birthday party, Ecuador embassy, July 2015

Speaking to Sky News, Fidel Narvaez disputed claims that Assange had assaulted guards, didn’t clean up after himself, didn’t take care of his pet cat and even smeared human excrement on the walls of the embassy. He said: “Julian had a respectful relationship with staff, diplomats and administrative staff. I don’t recall a single incident when he disrespected someone until I left in July 2018. “He was 100% respectful. Clean and tidy? What is clean and tidy? Did he put the dishes in the dishwasher? Probably not at weekends. Is that a crime?”


Mr Narvaez worked at the embassy in Knightsbridge in central London between 2010 and 2018 as consul and first secretary. Assange went into the embassy in June 2012 and did not leave until he was carted away by British police a few weeks ago with the agreement of the authorities in Ecuador. Mr Narvaez said: “The last year was hell for Julian in that embassy. “I was there the first months of the last year and I witnessed when Julian was told that he would no longer be allowed to have internet or access to the phone and wouldn’t be able to have visitors. “The strategy was very clear – break him down. The government didn’t know how to end the asylum and face the catastrophic historical shame for doing that.”

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Oh, that’s right, Brexit!

UK PM May To Be Told To Quit By Top Conservative (R.)

A top member of Prime Minister Theresa May’s Conservative Party will tell her in the coming week that she must step down by the end of June or her lawmakers will try again to depose her, the Sunday Times reported, without citing sources. May survived a vote of no confidence in December and although party rules mean lawmakers cannot challenge her again until a year has passed, lawmaker Graham Brady will tell her the rules will be changed unless she quits, the newspaper said.


Brady, who chairs the Conservative Party’s influential 1922 Committee of backbench lawmakers, will tell her that 70 percent of her members of parliament want her to resign over her handling of Brexit, the Sunday Times said. Britain was originally due to leave the European Union on March 29, but that deadline was pushed back to April 12 and then again to Oct. 31 as May failed to break an impasse in parliament on the terms of Brexit.

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Third world real estate.

London Home Prices Had Biggest Monthly Drop Since Lehman (DQ)

London home prices in February took their biggest one-off hit since the dark days of the last crisis, according to data published Thursday by the UK’s Office of National Statistics. The average price of a residential property in London tumbled 2% in February from January, the sharpest monthly drop since November 2008, when the City was grappling with the fallout from the Lehman Brothers bankruptcy. For the 12-month period, the average price dropped 3.8%, the sharpest year-over-year fall since August 2009, during the Global Financial Crisis. The average home in London is now worth £459,800 ($600,000), down 5.9% from the peak in July 2017:

But it’s still more than double the median UK home price (£225,000). In other words, while prices may have moderated somewhat they’re still well beyond the reach of average Londoners. Here are some more standouts from the ONS report: The slowdown is spreading out from London. Home prices in the south east of England recorded an annual decline (-1.8%) for the first time since 2011. Prices also fell in the North East and remained virtually unchanged in Yorkshire and the Humber. Home price annual growth is slowing in England; prices tick down in Scotland.


Prices did increase in a few places. Home price growth was strongest in Wales and the North West, increasing in both regions by 4.1% in the year to February 2019. It’s a very different story in the capital, which during the first decade and a half of this century enjoyed much faster home price growth than the rest of the country but which is now suffering a much sharper slowdown.The most exclusive boroughs of the city center — often referred to as Prime Central London — have been hit hardest, with prices falling an estimated 14% from their 2014 peak.

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It’s all interconnected and we are killing it all.

Battle To Save Amphibians From Global Killer Disease (G.)

Frogs, salamanders, and toads across the world are now under attack from a widening range of interacting pathogens that threaten to devastate global amphibian populations. That is the stark warning of leading zoological experts who will gather this week in London in a bid to establish an emergency plan to save these endangered creatures. “The world’s amphibians are facing a new crisis, one that is caused by attacks by multiple pathogens,” said Professor Trent Garner of the Zoological Society of London, which is hosting the conference. “We desperately need to devise strategies that can protect them.”


The golden toad of Costa Rica, which is now considered to be extinct. Photograph: Education Images/UIG via Getty Images

Thirty years ago experts noticed that amphibian populations were plunging in different areas of the world as an emerging fungal disease known as chytridiomycosis, or simply chytrid, began taking its toll of frogs and toads. At least 100 species have since been wiped off the face of the planet. These include the golden toad in Costa Rica (Incilius periglenes); the southern gastric-brooding frog of Australia (Rheobatrachus silus); and Arthur’s stubfoot toad (Atelopus arthuri) in Ecuador. Hundreds of other amphibian species have also suffered severe declines – as a result of chytrid infections.


But scientists also know chytrid is not the only cause of the amphibian deaths now occurring around the world. Another pathogen known as the ranavirus, which exists in at least four varieties, has been observed killing amphibians. In addition they found that there are at least two species of chytrid, and within these, many different genetic types.

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Nitrous oxide emissions, that is. But the article says nothing about amounts, so what to make of it? How much of the stuff is there?

Emissions From Thawing Arctic Permafrost 12 Times Higher Than Thought (Ind.)

Emissions from thawing Arctic permafrost may be 12 times higher than previously thought, scientists have discovered. Permafrost is a mix of soil, rock or sediment that has been frozen for at least two years which is mostly found in the uppermost areas where temperatures are rising more quickly than the rest of the world. When it thaws because of global warming, it releases large quantities of carbon dioxide and methane into the atmosphere, causing temperatures to rise and creating a perpetual cycle where more permafrost melts. Nitrous oxide, a third greenhouse gas nearly 300 times more potent than carbon dioxide, stays in the atmosphere for an average of 114 years, according to the Environmental Protection Agency (EPA).


It has “conventionally been assumed to have minimal emissions in permafrost regions”, according to a fresh study published in the Atmospheric Chemistry and Physics journal. However the research team behind the study, led by Harvard University scientists, has found that nitrous oxide emissions are 12 times higher than previously thought and therefore more of a threat. The group used a small plane with a probe on its nose to measure greenhouse gases over 120sqm of thawing permafrost in the North Slope of Alaska. They found that nitrous oxide emissions reached what was previously thought to be the expected yearly limit within just one month in August 2013. Nitrous oxide also poses a second threat because “up in the stratosphere, sunlight and oxygen team up to convert the gas into nitrogen oxides, which eat at the ozone”, Harvard University said in a statement.

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Attenborough trying to make up for lost time.

Climate Change: The Facts – Our Greatest Threat, Laid Bare (G.)

You sense that Our Planet was unfortunately timed for the BBC. In Climate Change: The Facts, the gloves are now not so much off as thrown to the floor in a certain rage. It’s right there in the title, bold and stark. This hour-long documentary, part of the Our Planet Matters season, is wide-ranging yet concise, easy to understand, not blighted by the ego of, say, An Inconvenient Truth, and it is designed to do for climate change denial what 2017’s Blue Planet did for single-use plastic. That’s not to say it should be Attenborough’s responsibility to get the wider public to pay attention, nor that it is down to the BBC. It isn’t.

But Climate Change: The Facts is a rousing call to arms. It is an alarm clock set at a horrifying volume. The first 40 minutes are given over to what Attenborough calls, without hyperbole, “our greatest threat in thousands of years”. Expert after expert explains the consequences of rising CO2 levels, on the ice caps, on coastal regions, on weather and wildlife and society itself. The most powerful moments are in footage shot not by expert crews who have spent years on location, but on shaky cameras, capturing the very moment at which the reality of our warming planet struck the person holding the phone.

In Cairns, Australia, flying foxes are unable to survive the extreme temperatures; rescuers survey the terrible massacre, and we learn that while 350 were saved, 11,000 died. A man and his son talk through their escape from raging wildfires, over the film they took while attempting to drive through a cavern of blazing red trees. These are horror movies playing out in miniature. It is difficult to watch even five minutes of this and remain somehow neutral, or unconvinced.

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After -how many?- too many years of silence, David Attenborough finally speaks out in his 90s. A very late wake-up. By now he’s so old, it’s not going to hurt him much, he won’t be around to see it. What if he’d done this 20-30-30 years ago? He’s THE voice on planet issues. And hey, he’s got the best camera people on the topic, so yeah, go full screen for the entire hour this doc lasts (click YouTube, bottom right corner).

Climate Change – The Facts (David Attenborough)

After one of the hottest years on record, Sir David Attenborough looks at the science of climate change and potential solutions to this global threat. Interviews with some of the world’s leading climate scientists explore recent extreme weather conditions such as unprecedented storms and catastrophic wildfires. They also reveal what dangerous levels of climate change could mean for both human populations and the natural world in the future.

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Apr 172019
 


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

 

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

 

 

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

World Trade Suffers Biggest Collapse Since Financial Crisis (ZH)

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

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

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“We” are losing to Iran all over again.

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

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


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

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Ducks and babies. We kid you not.

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

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

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

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

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

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

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

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

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

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

Suzie Dawson on Julian Assange’s Mistreatment (Unity4J)

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

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

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

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


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

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

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

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

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

First They Came For Assange (Varoufakis)

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

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

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

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

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

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

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


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

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“..experts have concluded..”

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

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


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

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There is no way they could ever agree.

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

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


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

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The Delusional Party.

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

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


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

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How much plastic is inside of you?

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

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


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

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

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

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

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

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


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

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Mar 052019
 


Vincent van Gogh Weaver 1884

 

China Warns Of ‘Tough Struggle’, Cuts Growth Target To Lowest Since 1990 (G.)
China’s Largest Property Developer To Sell All Homes At A 10% Discount (ZH)
Relying On Central Banks For Growth Is A Bad Idea (Das)
Theresa May ‘Did Not Understand EU When She Triggered Brexit’ (G.)
Dear Europe, Brexit Is A Lesson For All Of Us: It’s Time For Renewal (Macron)
EU Must Learn From Brexit And Reform – Macron (G.)
The Prisoner Says No To Big Brother (John Pilger)
White House Lambasts Trump Probe (BBC)
Fox News’s Propaganda Isn’t Just Unethical, It’s Enormously Influential (Vox)
Manafort Asks Judge to Revisit Order on Lies to Special Counsel (CN)
Britain Puts New Roof On Skripal House of Horrors (Galloway)
Sunset Boulevard with Chimp (Kunstler)
Heatwaves Sweeping Oceans ‘Like Wildfires’ (G.)
World’s Rarest Orangutan Under Threat In Indonesia From Dam Project (G.)

 

 

To reiterate from yesterday, Xiang Songzuo, professor at Renmin University in Beijing, former deputy director at the People’s Bank of China and chief economist at the Agricultural Bank of China, said in a speech in December that real GDP growth was 1.67%, and now says: “I think this year, regulators will encourage more shadow banking financing, particularly to the private sector.”

Perhaps the biggest takeaway today is that China is failing to increase domestic demand, long predicted to be the country’s saving grace.

China Warns Of ‘Tough Struggle’, Cuts Growth Target To Lowest Since 1990 (G.)

China has set its lowest growth target in nearly three decades as premier Li Keqiang warned of “tough” challenges facing the world’s second-largest economy. He set the country’s growth at 6.0 to 6.5%, down from a target of 6.5% last year. In 1990, growth sank to 3.9% because of international sanctions sparked by the Tiananmen square protests. Growth in 2018 was 6.6%, the slowest rate since 1990. Speaking at the opening of the National People’s Congress, China’s legislative body, on Tuesday, Li said: “We will face a graver and more complicated environment as well as risks and challenges … We must be fully prepared for a tough struggle.”

Li’s state-of-the-nation-style address comes as the ruling Chinese Communist Party faces a difficult year amid a slowing economy, a trade war with the US, and diplomatic tensions over Huawei, the Chinese tech giant. Domestically, China has been hit by public health scandals as well as protests by workers, students, and small pockets of activists. Striking a sombre tone, Li stressed the “severe challenges” China is faced last year, including trade frictions, “mounting protectionism and unilateralism” and slowing domestic demand. “Downward pressure on the Chinese economy continues to increase, growth in consumption is slowing, and growth in effective investment lacks momentum. The real economy faces many difficulties,” Li said.

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The people who gave you empty cities.

China’s Largest Property Developer To Sell All Homes At A 10% Discount (ZH)

“Property accounts for roughly 70 per cent of urban Chinese families’ total assets – a home is both wealth and status. People don’t want prices to increase too fast, but they don’t want them to fall too quickly either,” said Shao Yu, chief economist at Oriental Securities. “People are so used to rising prices that it never occurred to them that they can fall too. We shouldn’t add to this illusion,” Shao added, echoing Ben Bernanke circa 2005. The bottom line is that just like true price discovery for US capital markets is prohibited (and sees Fed intervention any time there is an even modest, 10-20% drop in asset prices) or else the risk of an all out panic is all too real, in China true price discovery is also not permitted, however when it comes to the country’s all important, and wealth effect boosting, real estate.

Which is a problem, because whereas China suddenly appears to be suffering from all the conventional signs of deflation in the auto retail sector, where as we noted previously, neither lower prices nor easier loans have managed to put a dent the ongoing demand plunge the same ominous price cuts – which are clearly meant to boost flagging demand – are starting to emerge in China’s housing sector. Case in point, according to China’s Paper, Hui Ka Yan, the Chairman of Evergrande, China’s biggest property developer, and China’s second richest person announced it must ramp up home sales and to do that it would sell all its properties at a 10% discount after its home sales tumbled in January amid a cooling market.

[..] In November, Evergrande, which carries the industry’s largest debt pile of any Chinese housing developer, was caught in a vicious funding squeeze and raised eyebrows with a $1.8BN, 5-year bond deal, which it had to pay a whopping 13.75% coupon, prompting analysts to say the move “carried a whiff of desperation.” The fact that chairman Hui Ka Yan, China’s second-richest person, bought $1bn of it himself, added to a sense that outside investors were shunning the company. In many ways, Evergrande had no choice: after the property market boomed for the past three years, helping to power the economy through Xi Jinping’s crucial political transition year of 2017, in 2018 the market slowed sharply, after local governments shifted focus to controlling frothy prices and China Development Bank, the policy lender, phased out a $1 trillion subsidy program for homebuyers in smaller cities, where Evergrande’s projects are concentrated, the FT reported.

Even the official China News Service, usually a cheerleader for the economy, acknowledged recently that the property market “was a bit chilly”. Nomura chief China economist Ting Lu put it more starkly, forecasting a “frigid winter”. The bigger problem for Evergrande, which had $208 billion in total liabilities at the end of June 2018 — the most of any Chinese developer — including $43bn maturing in 2019, is that should China’s housing market suffer a steep downturn, it will likely be the company to suffer the most, if for no other reason than its massive leverage which stood at a net debt to equity ratio of 400%.

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I like and appreciate Satiayit Das, but the Fed doesn’t make grand policy errors, it simply protects its clients with public money. Since it does that by killing off price discovery, let’s stop talking about ‘markets’.

Relying On Central Banks For Growth Is A Bad Idea (Das)

Just since December 2018, central banks have collectively injected as much as $500 billion of liquidity to stabilize economic conditions. The U.S. Federal Reserve has put interest rate increases on hold and is contemplating a halt to its balance-sheet reduction plan. Other central banks have taken similar actions, fueling a new phase of the “everything bubble” as markets careen from December’s indiscriminate selling to January’s indiscriminate buying. The monetary onslaught appears a reaction to financial factors – falling equity markets, rising credit spreads, increased volatility – and a perceived weakening of economic activity, primarily in Europe and China.

If they heeded Walter Bagehot’s oft-cited rule, central banks would act only as lenders of last resort in times of financial crisis, lending without limit to solvent firms against good collateral at high rates. Instead, they’ve become lenders of first resort, expected to step in at any sign of problems. U.S. central bankers are currently debating whether quantitative-easing programs should be used purely in emergency situations or more routinely. Since 2008, the global economy has grown far too dependent on huge central bank balance sheets and accommodative monetary policy. The U.S. economic boom President Donald Trump loves to tout is largely fake, engineered by artificial policy settings.

Such dependence is dangerous and, for various reasons, could well backfire. For one thing, central banks are poor forecasters. GDP growth, inflation and labor markets may prove more resilient than feared, remaining at or above trend. Key risks, such as the trade dispute between the U.S. and China, may recede. Financial markets and asset prices have already recovered substantially. It’s possible that central banks may be forced to make another U-turn to reduce the risk of reflating asset price bubbles and overheating economies. This flip-flop would be destabilizing and affect decisionmakers’ credibility.

Printing money was always going to be easier than withdrawing it later. In effect, central banks are boxed into a situation where they can’t normalize policy and must maintain low rates and abundant liquidity, lest they destabilize fragile asset markets and spur low growth and disinflation. This state of “infinite QE” risks miscalculations and major policy errors. If central banks are, as is now fashionable to state, the only game in town, then the game is lost.

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The Tories thought they could get deals done with separate EU countries.

Theresa May ‘Did Not Understand EU When She Triggered Brexit’ (G.)

Theresa May and her circle of advisers did not understand how the European Union works, and consequently followed a negotiating strategy in 2016 that was doomed to fail, the former UK ambassador to the EU Sir Ivan Rogers has said. Speaking to the Institute for Government on Monday, Rogers said the people around the prime minister at the start of the article 50 process “didn’t know very much about European councils or that much about the EU”. Rogers, who resigned a year ago and has developed a reputation for producing some of the most caustic assessments of the misunderstandings between the UK and the EU, said the UK lived under the illusion that it could circumvent Brussels by making direct deals with the major capitals.

He said: “Capitals obviously matter, but I think having lived through this with a number of prime ministers, a number of different negotiations … that reflex in the British system always to think that we can deal direct with the organ grinders and not the monkeys: it never works like that. “It didn’t work like that in the Cameron renegotiation either. That stuff is not done in the way British politics works, leader to leader. It’s done via the bureaucrats, and the sherpas, and the people at the top of the institutions.” Rogers also warned that the chances of a no-deal Brexit sticking for long were close to zero. “The UK and EU know there is no chance of no-deal Brexit being the long-term end state, as the UK would quickly come back to the negotiating table,” he said. “There is not a world where we are going to end up with no deal.”

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A 25% approval rating won’t keep Little Napoleon from designing grande plans. More Europe!

Dear Europe, Brexit Is A Lesson For All Of Us: It’s Time For Renewal (Macron)

Never since the second world war has Europe been so essential. Yet never has Europe been in such danger. Brexit stands as the symbol of that. It symbolises the crisis of a Europe that has failed to respond to its peoples’ need for protection from the major shocks of the modern world. It also symbolises the European trap. The trap lies not in being part of the European Union; the trap is in the lie and the irresponsibility that can destroy it. Who told the British people the truth about their post-Brexit future? Who spoke to them about losing access to the EU market? Who mentioned the risks to peace in Ireland of restoring the border? Retreating into nationalism offers nothing; it is rejection without an alternative. And this is the trap that threatens the whole of Europe: the anger mongers, backed by fake news, promise anything and everything.

Europe is not a second-tier power. Europe in its entirety is a vanguard: it has always defined the standards of progress. In this, it needs to drive forward a project of convergence rather than competition: Europe, where social security was created, needs to introduce a social shield for all workers, guaranteeing the same pay for the same work, and an EU minimum wage, appropriate to each country, negotiated collectively every year. Getting back on track also means spearheading the environmental cause. Will we be able to look our children in the eye if we do not also clear our climate debt?

The EU needs to set its target – zero carbon by 2050 and pesticides halved by 2025 – and adapt its policies accordingly with such measures as a European Climate Bank to finance the ecological transition, a European food safety force to improve our food controls and, to counter the lobby threat, independent scientific assessment of substances hazardous to the environment and health. This imperative needs to guide all our action: from the Central Bank to the European commission, from the European budget to the Investment Plan for Europe, all our institutions need to have the climate as their mandate.

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Not the Onion. The man who has his police maim his own citizens now says “the people will really take back control of their future”.

EU Must Learn From Brexit And Reform – Macron (G.)

Macron later said: “The Brexit impasse is a lesson for us all”. In a nod to the Brexiters’ campaign slogan “take back control”, he said that in a changed Europe “the people will really take back control of their future”. In a suggestion the UK would deepen its future relationship with the EU, he said that “in this new Europe, the UK, I am sure, will find its true place”. The call for a Europe-wide agency “for the protection of democracies” to shield against electoral interference from outside powers comes as campaigning for May’s European parliament elections gets underway. Security officials are preparing for potential attempts by Russia-linked hackers to sway the vote and potentially deepen divisions in the bloc.

“There’s a strong likelihood that people will try to manipulate the debates and falsify the European election results,” the EU’s security commissioner, Julian King, told France’s Alsace newspaper last week. The May vote is shaping up as a continental clash between populist and Eurosceptic movements on the one hand, and pro-European internationalists on the other. Macron, who has faced months of gilets jaunes or yellow vest anti-government protests, has sought to style himself as a progressive voice against nationalism. His centrist party La République En Marche is narrowly ahead of Marine Le Pen’s far-right National Rally in French polls – a re-run of his face-off with Le Pen in the 2017 presidential election.

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John Pilger gave this speech at a rally in Sydney for Julian Assange recently, organised by the Socialist Equality Party. Unfortunate name.

The Prisoner Says No To Big Brother (John Pilger)

Whenever I visit Julian Assange, we meet in a room he knows too well. There is a bare table and pictures of Ecuador on the walls. There is a bookcase where the books never change. The curtains are always drawn and there is no natural light. The air is still and fetid. This is Room 101. Before I enter Room 101, I must surrender my passport and phone. My pockets and possessions are examined. The food I bring is inspected. The man who guards Room 101 sits in what looks like an old-fashioned telephone box. He watches a screen, watching Julian. There are others unseen, agents of the state, watching and listening. Cameras are everywhere in Room 101. To avoid them, Julian manoeuvres us both into a corner, side by side, flat up against the wall.

[..] Julian is a distinguished Australian, who has changed the way many people think about duplicitous governments. For this, he is a political refugee subjected to what the United Nations calls “arbitrary detention”. The UN says he has the right of free passage to freedom, but this is denied. He has the right to medical treatment without fear of arrest, but this is denied. He has the right to compensation, but this is denied. As founder and editor of WikiLeaks, his crime has been to make sense of dark times. WikiLeaks has an impeccable record of accuracy and authenticity which no newspaper, no TV channel, no radio station, no BBC, no New York Times, no Washington Post, no Guardian can equal. Indeed, it shames them. That explains why he is being punished.

For example: Last week, the International Court of Justice ruled that the British Government had no legal powers over the Chagos Islanders, who in the 1960s and 70s, were expelled in secret from their homeland on Diego Garcia in the Indian Ocean and sent into exile and poverty. Countless children died, many of them, from sadness. It was an epic crime few knew about. For almost 50 years, the British have denied the islanders’ the right to return to their homeland, which they had given to the Americans for a major military base. In 2009, the British Foreign Office concocted a “marine reserve” around the Chagos archipelago. This touching concern for the environment was exposed as a fraud when WikiLeaks published a secret cable from the British Government reassuring the Americans that “the former inhabitants would find it difficult, if not impossible, to pursue their claim for resettlement on the islands if the entire Chagos Archipelago were a marine reserve.”

The truth of the conspiracy clearly influenced the momentous decision of the International Court of Justice. WikiLeaks has also revealed how the United States spies on its allies; how the CIA can watch you through your iPhone; how Presidential candidate Hillary Clinton took vast sums of money from Wall Street for secret speeches that reassured the bankers that if she was elected, she would be their friend. In 2016, WikiLeaks revealed a direct connection between Clinton and organised jihadism in the Middle East: terrorists, in other words. One email disclosed that when Clinton was US Secretary of State, she knew that Saudi Arabia and Qatar were funding Islamic State, yet she accepted huge donations for her foundation from both governments. She then approved the world’s biggest ever arms sale to her Saudi benefactors: arms that are currently being used against the stricken people of Yemen. That explains why he is being punished.

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Nadler et al sent Julian Assange a request for documents. Imagine the brain damage required for that. Other than that, from what I get, there’s nothing new. All 81 requests concern people who’s already sent docs before, to Mueller and elsewhere.

White House Lambasts Trump Probe (BBC)

House of Representatives Judiciary Committee Chairman Jerry Nadler, a Democrat, said it was the “obligation” of Congress to “provide a check on abuses of power” by the White House. Mr Nadler, whose committee has the power to conduct impeachment hearings, also said it was “very clear” that the president had obstructed justice. But Mr Nadler told ABC News it was too early to discuss removing the president from office. President Trump dismissed Mr Nadler’s probe as a “political hoax”, but added: “I co-operate all the time with everybody.” Democrats, who took control of the House of Representatives in January, have vowed to open investigations into the president and White House.

More than five House committees are now investigating alleged attempts by Russia to meddle in the 2016 election campaign, the president’s tax returns and potential conflicts of interest involving Mr Trump’s family. Those inquiries are in addition to the investigation by Special Counsel Robert Mueller, who is expected to file his report soon. In a statement, White House press secretary Sarah Sanders said: “Today, Chairman Nadler opened up a disgraceful and abusive investigation into tired, false allegations already investigated by the special counsel and committees in both chambers of Congress. “Chairman Nadler and his fellow Democrats have embarked on this fishing expedition because they are terrified that their two-year false narrative of ‘Russia collusion’ is crumbling.

[..] Trump Organization chief financial officer Allen Weisselberg, longtime Trump personal assistant Rhona Graff and ex-White House counsel Don McGahn are also on the list of names released by the House Judiciary Committee. Donald Trump Jr has previously been forced by members of Congress to answer questions about a June 2016 meeting at Trump Tower, in which he sat down with a Kremlin-linked lawyer who had offered dirt on Mr Trump’s opponent Hillary Clinton. Wikileaks, and its founder Julian Assange, have also been sent documents requests by the committee. Wikileaks published emails stolen from the Democratic National Committee and released them during the 2016 campaign, causing political embarrassment to Mrs Clinton and her campaign team.

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Yes, Trump has Fox. The other side has just about everything else: CNN, MSNBC, NYT, WaPo, ABC, Politico, etc etc etc. Doesn’t someone who writes pieces like this one see the irony?

Fox News’s Propaganda Isn’t Just Unethical, It’s Enormously Influential (Vox)

Jane Mayer, the New Yorker’s longtime star investigative reporter, has a fantastic new longform piece out detailing the extent to which the Fox News Channel has become propaganda television for the Trump administration. Many of the basic points — like Fox’s bending of ethical standards to accommodate Sean Hannity, the collaborative relationship between Fox and Trump in shaping the news agenda, and the extent to which Trump at times seems to take his policy cues from Fox & Friends – will be familiar to Vox readers. But Mayer adds critical new insights into the arc of change at the network during a period when CEO Roger Ailes was deposed and then died, vice president Bill Shine left to become White House communications director, and the company’s owner Rupert Murdoch has restructured his media holdings and prepared to pass the baton to his son.

She also adds a couple of key scoops, including: • A Fox reporter named Diana Falzone had pieced together the entire Stormy Daniels story before the election, but network executives killed the story, demoted her, and then, after she sued them, reached a settlement with her that included a nondisclosure agreement. • “Trump ordered Gary Cohn, then the director of the National Economic Council, to pressure the Justice Department to intervene” and sue to block AT&T’s proposed takeover of Time Warner. (The DOJ did sue, though they denied this was due to improper interference from the White House, and ended up losing in court.) • “During the Bush Administration’s disastrous handling of Hurricane Katrina, Fox’s ratings slumped so badly, a former Fox producer told me, that he was told to stop covering it.”

Fox’s propaganda broadcasting matters. It’s a somewhat underexplored topic in political science research, but the information that’s available suggests that right-wing propaganda broadcasting — led by Fox but also including Sinclair Broadcast Group — has a decisive influence on American politics. [..] A study by Emory University political scientist Gregory Martin and Stanford economist Ali Yurukoglu estimates that watching Fox News translates into a significantly greater willingness to vote for Republican candidates. Specifically, by exploiting semi-random variation in Fox viewership driven by changes in the assignment of channel numbers, they find that if Fox News hadn’t existed, the Republican presidential candidate’s share of the two-party vote would have been 3.59 points lower in 2004 and 6.34 points lower in 2008. Without Fox, in other words, the GOP’s only popular vote win since the 1980s would have been reversed and the 2008 election would have been an extinction-level landslide.

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Interesting twist. But under wraps.

Manafort Asks Judge to Revisit Order on Lies to Special Counsel (CN)

Former Trump campaign chairman Paul Manafort asked a federal judge Monday to reconsider her earlier ruling that Manafort violated his plea agreement by lying about his contacts with suspected Russian spy Konstantin Kilimnik. The details of the request remain under seal for now, but a short order from U.S. District Judge Amy Berman Jackson entered into the docket in the case shows it is a request to reconsider her earlier decision based on new evidence. The docket entry specifically references a supplemental filing last month from Special Counsel Robert Mueller’s office that informed Jackson of new information relevant to Manafort’s plea deal that came up in an interview with longtime Manafort associate Rick Gates.

Jackson said in the short order Monday she will “deem [Manafort’s] filing as a motion for reconsideration” of her earlier decision. The motion is under seal for now, but Manafort and Mueller’s office will discuss whether portions of the filing may become public, according to the order. Manafort is scheduled to be sentenced in Washington, D.C., on March 13. He pleaded guilty to head off a second criminal trial after a federal jury in Virginia found him guilty last year of various financial crimes. In Washington, Manafort pleaded to conspiring to defraud the United States, obstruction of justice and violations of lobbying laws in relation to work he did on behalf of a pro-Russian political party in Ukraine.

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Britain would fall apart if it could no longer unite vs Russia.

Britain Puts New Roof On Skripal House of Horrors (Galloway)

In 12 months of shifting sands, one thing remains as its original foundations: the British state narrative on Salisbury stands as a castle in the air. One year from the dastardly fate of Sergei and Yulia Skripal, no one is a step forward on what happened to them, how, why, or of course where they are. One year ago, a nerve agent was allegedly sprayed onto their front doorknob. One year later, their house needs a new roof as a result. And why the roof? And why only the roof? I don’t know what happened to the stricken pair but then, neither do you, however much you’ve followed the story in Britain’s mass media. In fact, the more you’ve read, the more confused you’re likely now to be. There are some things I do know, however. The first is that the Russian state had as little to gain from attacking this pair in broad daylight on a Salisbury street with a signature Soviet-developed weapon, ‘novichok,’ as I said at the time.

It was exactly 100 days before the World Cup, just days before President Putin’s re-election. If – and it’s a big if – the Russian state wanted to kill the Skripals, many things would’ve been different. Firstly, they would’ve been dead. Yulia would’ve been dead in Russia where she lived. And Sergei would’ve been dispatched at a less sensitive time by rather more reliable, less identifiable means, and by rather less comical killers. The killers would not have flown directly from and back to Moscow. They would not have entrusted their egress to the Sunday service of Wiltshire public transport. They would not have smiled up at every CCTV camera they could find. They would not have stayed at a downscale small hotel in East London, they would not have smoked drugs there, and they would not have noisily entertained a prostitute in their room. They would not have left traces of their nerve agent in their hotel room.

They would not have spent a mere hour scoping Salisbury the day before the alleged poisoning of the Skripals. Nor would they have returned by public transport to London for their sex and drug party, only to retrace their steps by public transport the next day. If they were going to kill a man and his daughter, they would not have trusted nerve agent on a doorknob when there was no conceivable way of knowing who’s hand would touch it. Yulia? Sergei? The milkman? Any Tom, Dick or Harry in the street (or any of their children)? If they were going to smear nerve agent on a doorknob, they would’ve done it in the dark – not at noon the next day, when anyone or any camera could watch them doing so, yet no one did. Quite apart from the salient fact that by noon the victims had already left the house never to return to it.

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Very sorry to see what Jacko was up to.

Sunset Boulevard with Chimp (Kunstler)

If you want some insight into how deep the collective public psychosis of this land runs, check out Dan Reed’s four-hour documentary about the late Michael Jackson streaming on the HBO cable network. The film apparently provoked outrage when it premiered at the Sundance Festival recently, as if it were in bad taste to disclose the icon’s peccadillos in these days of Progressive intersectional triumph. Mr. Jackson methodically assembled a harem of catamites as his show business fame exploded and he struggled with the personal horror of developing into a full-grown man. He solved that problem by restricting his social consort to little boys while surgically metamorphosing into a schematic approximation of a woman — interesting, since he repeatedly referred to women as “evil,” but then his greatest hit was the self-revealing song, Bad.

Everybody and his uncle’s-second-cousin in Hollywood at the time must have known what the deal was with him but they went along with the gag that he was the reincarnation of Peter Pan, just a harmless character out of Show Biz’s own catalog of manufactured mythology, something they could understand, a framing device to spin cotton candy out of the truth that Mr. Jackson was simply a child-molester. [..] perhaps, Leaving Neverland signals an interesting turning point in the madness that has gripped this country for years, and especially the bewitched, bothered, and bewildered thinking class, lost in its labyrinth of sacred monsters. This year 2019 — and especially the coming springtime — promises to be a time of spectacular reversals in politics, manners, and markets.

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Most of you will be eating yellyfish in your lifetime, it’s not just your kids anymore.

Heatwaves Sweeping Oceans ‘Like Wildfires’ (G.)

The number of heatwaves affecting the planet’s oceans has increased sharply, scientists have revealed, killing swathes of sea-life like “wildfires that take out huge areas of forest”. The damage caused in these hotspots is also harmful for humanity, which relies on the oceans for oxygen, food, storm protection and the removal of climate-warming carbon dioxide the atmosphere, they say. Global warming is gradually increasing the average temperature of the oceans, but the new research is the first systematic global analysis of ocean heatwaves, when temperatures reach extremes for five days or more. The research found heatwaves are becoming more frequent, prolonged and severe, with the number of heatwave days tripling in the last couple of years studied.

In the longer term, the number of heatwave days jumped by more than 50% in the 30 years to 2016, compared with the period of 1925 to 1954. As heatwaves have increased, kelp forests, seagrass meadows and coral reefs have been lost. These foundation species are critical to life in the ocean. They provide shelter and food to many others, but have been hit on coasts from California to Australia to Spain. “You have heatwave-induced wildfires that take out huge areas of forest, but this is happening underwater as well,” said Dan Smale at the Marine Biological Association in Plymouth, UK, who led the research published in Nature Climate Change. “You see the kelp and seagrasses dying in front of you. Within weeks or months they are just gone, along hundreds of kilometres of coastline.”

The damage global warming is causing to the oceans has also been shown in a series of other scientific papers published in the last week. Ocean warming has cut sustainable fish catches by 15% to 35% in five regions, including the North Sea and the East China Sea, and 4% globally, according to work published by Pinsky and colleagues.

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More victims of European fossil fuel replacements. This is so easy to solve: pay them to NOT build that dam. Demand phasing out of palm oil, in fuel and food.

World’s Rarest Orangutan Under Threat In Indonesia From Dam Project (G.)

Environmentalists in Indonesia have lost a court challenge to a Chinese-backed dam project in Indonesia that will rip through the habitat of the most critically endangered orangutan species. On Monday, the state administrative court in North Sumatra’s capital, Medan, ruled that construction can continue despite critics of the 510-megawatt hydro dam providing evidence that its environmental impact assessment was deeply flawed. Experts said the dam would flood and in other ways alter the habitat of the orangutan species, which numbers only about 800 primates, and was likely to make it impossible to ensure the species survived.

Scientists announced the discovery of the species, Pongo tapanuliensis, in November after DNA analysis and field study revealed unique characteristics. The population, with frizzier hair and distinctively long calls, was previously believed to be Sumatran orangutans, also critically endangered. Without special protection, it is in danger of rapid extinction, according to scientists. The species is found only in the Batang Toru forest, where the dam will be built. Announcing the decision of a three-judge panel, presiding Judge Jimmy C Pardede said the witnesses and facts presented by the Indonesian Forum for the Environment, the country’s largest environmental group, in its case against the North Sumatra provincial government were irrelevant.


A newly-discovered species of orangutan, the Pongo tapanuliensis, is only found in the forest where the dam will be built. Photograph: HANDOUT/Reuters

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Feb 182019
 


Pablo Picasso Face female study 1925

 

Yellow Vests Mark 3 Months of Marches, France investigates Antisemitism (AP)
Two Trump Cabinet Officials Were “Ready To Support” 25th Amendment Coup (ZH)
Trump To Veto Disapproval Of Emergency (AP)
Tories Under Fire For Dismissing March For 2nd Brexit Referendum (Ind.)
New Zealand To Target Online Giants With Digital Tax (R.)
Facebook Labelled ‘Digital Gangsters’ By UK Report On Fake News (G.)
UK Must Investigate Foreign Influence And Voter Manipulation In Brexit Vote (Ind.)
Australia Claims Foreign Government Hacked Major Political Parties (R.)
Varoufakis: ECB Profits Should Be Used For A European Poverty Fund (KTG)
Venezuela Denies EU Lawmakers Entry Given ‘Conspiratorial Motives’ (R.)
Virtual Fences, Robot Workers, Stacked Crops: Farming In 2040 (O.)
Return Of Wolves To Germany Pits Farmers Against Environmentalists (G.)
UK Plans To Make Plastic Packaging Producers Pay For Waste Disposal (R.)
Plastic Chemicals Discovered Inside Bird Eggs From Remote Arctic (Ind.)

 

 

How state propaganda works (and is disseminated by sympathetic media).

“The scene was a vicious verbal interlude..” “The verbal attack on Finkielkraut could risk further eroding the movement’s initially strong public support. “The yellow vest movement [..] is now marked by growing divisions within its ranks.”

In reality, the French see young people with their eyes missing due to Macron-ordered rubber bullets. The only support that’s eroding is that for Macron.

Yellow Vests Mark 3 Months of Marches, France investigates Antisemitism (AP)

Paris judicial authorities opened an investigation Sunday into anti-Semitic remarks hurled at a noted philosopher during a yellow vest protest, an incident that raised national concerns about the movement’s ascendant radical fringe. The Paris prosecutor’s office said the investigation was being conducted into “public insult based on origin, ethnicity, nationality, race or religion.” A band of men taunted philosopher Alain Finkielkraut on the sidelines of a protest through the French capital Paris on Saturday. “Go back to Tel Aviv,” ”Zionist,” and “France is our land” were among the insults captured on video. Finkielkraut, a member of the prestigious Academie Francaise, told French television station LCI on Sunday he doesn’t intend to file a complaint.

The scene was a vicious verbal interlude as thousands of protesters made their way through the Left Bank for the 14th Saturday in a row of demonstrations by the yellow vest movement. Several thousand protesters gathered again in Paris on Sunday to mark the three-month anniversary of the yellow vest movement’s protests, which started Nov. 17 with nationwide protests of fuel tax increases. [..] The verbal attack on Finkielkraut could risk further eroding the movement’s initially strong public support. The yellow vest movement [..] is now marked by growing divisions within its ranks. One yellow vest protester who has tried to put together a candidates list for the European Parliament election was heckled Sunday by detractors.

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Government officials vs a newly elected president. Must be a first. Patriots vs voters.

Two Trump Cabinet Officials Were “Ready To Support” 25th Amendment Coup (ZH)

Two Trump Cabinet officials were “ready to support” a DOJ scheme to invoke the 25th Amendment to remove President Trump, according to Bloomberg and Fox News, citing closed-door testimony from the FBI’s former top lawyer, James Baker – who said that the claim came from Deputy Attorney General Rod Rosenstein. “The testimony was delivered last fall to the House Oversight and Judiciary Committees. Fox News has confirmed portions of the transcript. It provides additional insight into discussions that have returned to the spotlight in Washington as fired FBI Deputy Director Andrew McCabe revisits the matter during interviews promoting his forthcoming book.” -Fox News

While Baker did not identify the two Cabinet officials, he says that McCabe and former FBI lawyer Lisa Page approached him to relay their conversations with Rosenstein, including their discussions of the 25th Amendment scheme. “I was being told by some combination of Andy McCabe and Lisa Page, that, in a conversation with the Deputy Attorney General, he had stated that he – this was what was related to me – that he had at least two members of the president’s Cabinet who were ready to support, I guess you would call it, an action under the 25th Amendment,” Baker told the Congressional committees. The 25th Amendment allows for the removal of a sitting president from office through various mechanisms – including the majority of a president’s Cabinet agreeing that the commander-in-chief is incapable of performing his duties.

Rosenstein – who is slated to leave the Justice Department in the near future, has denied the claims. Baker said McCabe was cool, calm and collected throughout the discussions, telling lawmakers: “At this point in time, Andy was unbelievably focused and unbelievably confident and squared away. I don’t know how to describe it other than I was extremely proud to be around him at that point in time because I thought he was doing an excellent job at maintaining focus and dealing with a very uncertain and difficult situation. So I think he was in a good state of mind at this point in time.” McCabe, meanwhile told “60 Minutes” in an interview set to air Sunday night that Rosenstein was concerned about Trump’s “capacity.”

According to McCabe, Rosenstein “raised the issue and discussed it with me in the context of thinking about how many other cabinet officials might support such an effort,” adding that Rosenstein was “definitely very concerned about the president, about his capacity and about his intent at that point in time.” “Rosenstein was actually openly talking about whether there was a majority of the cabinet who would vote to remove the president?” asks CBS News anchor Scott Pelly, to which McCabe replied: “That’s correct. Counting votes or possible votes.”

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Inevitable, so let’s have it.

“..there do not yet appear to be enough votes to override a veto by the president.”

Trump To Veto Disapproval Of Emergency (AP)

President Donald Trump is prepared to issue the first veto of his term if Congress votes to disapprove his declaration of a national emergency along the U.S.-Mexico border, a top White House adviser said on Sunday. White House senior adviser Stephen Miller told “Fox News Sunday” that “the president is going to protect his national emergency declaration.” Asked if that meant Trump was ready to veto a resolution of disapproval, Miller added, “He’s going to protect his national emergency declaration, guaranteed.” The West Wing is digging in for fights on multiple fronts as the president’s effort to go around Congress to fund his long-promised border wall faces bipartisan criticism and multiple legal challenges.

After lawmakers in both parties blocked his requests for billions of dollars to fulfill his signature campaign pledge, Trump’s declared national emergency Friday shifts billions of federal dollars earmarked for military construction to the border. California Attorney General Xavier Becerra told ABC’s “This Week” that his state would sue “imminently” to block the order, after the American Civil Liberties Union and the nonprofit watchdog group Public Citizen announced Friday they were taking legal action. Democrats are planning to introduce a resolution disapproving of the declaration once Congress returns to session and it is likely to pass both chambers. Several Republican senators are already indicating they would vote against Trump — though there do not yet appear to be enough votes to override a veto by the president.

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“The next demonstration will be staged in London on Saturday 23 March, just six days before the UK’s scheduled departure from the EU.”

Tories Under Fire For Dismissing March For 2nd Brexit Referendum (Ind.)

Senior Tories were accused of “sniping” at the huge numbers of campaigners set to take part in a march for a fresh Brexit referendum, a day after it was announced. A Brexit minister, Martin Callanan, came under fire after he branded next month’s Put It To The People march – part of The Independent’s Final Say campaign – “desperate stuff”. James Cleverly, a Conservative vice-chairman, tweeted sarcastically: “The only thing that might make me change my mind is a bloke in a blue hat with yellow stars shouting ‘Stop Brexit’. Yep, that might do it.” The reaction came despite last October’s demonstration attracting up to 700,000 people in London alone – and fuelling support for a new referendum at Westminster.

Anna Turley, a Labour supporter of the People’s Vote campaign, said the two men were “sniping at the huge numbers of people in this country who want to make their voice heard”. “Ministers should listen to the calls of those who feel betrayed by broken Brexit promises, worried about the damage caused by either this deal or no deal, as well as those who just want clarity and closure about our country’s direction – rather than years more of argument and division,” she said. The next demonstration will be staged in London on Saturday 23 March, just six days before the UK’s scheduled departure from the EU.

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Meaningless without including other taxes, income, wealth, tec.

New Zealand To Target Online Giants With Digital Tax (R.)

New Zealand said on Monday that it plans to update its laws so it can tax revenue earned by multinational digital firms such as Google, Facebook and Amazon, extending a global effort to bring global tech giants into the tax net. Prime Minister Jacinda Ardern said the cabinet had agreed to issue a discussion document about how to update the country’s tax framework to ensure multinational companies pay their fair share. “Our current tax system is not fair in the way it treats individual tax payers, and how it treats multinationals,” Ardern told reporters at her weekly post-cabinet news conference.

Highly digitalized companies, such as those offering social media networks, trading platforms, and online advertising, currently earn a significant income from New Zealand consumers without being liable for income tax, the government said in a statement released after the announcement. The value of cross-border digital services in New Zealand is estimated to be around NZ$2.7 billion ($1.86 billion). The revenue estimate for a digital services tax is between NZ$30 million and NZ$80 million, Finance Minister Grant Robertson said in the statement. Digital services taxes (DST) are generally charged at a flat rate of two to three percent on the gross revenue earned by a multinational company in that country. A number of countries including the U.K, Spain, Italy, France, Austria and India have enacted or announced plans for a DST. The EU and Australia are also consulting on a DST.

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Anything here that money won’t buy?

Facebook Labelled ‘Digital Gangsters’ By UK Report On Fake News (G.)

Facebook deliberately broke privacy and competition law and should urgently be subject to statutory regulation, according to a devastating parliamentary report denouncing the company and its executives as “digital gangsters”. The final report of the Digital, Culture, Media and Sport select committee’s 18-month investigation into disinformation and fake news accused Facebook of purposefully obstructing its inquiry and failing to tackle attempts by Russia to manipulate elections. “Democracy is at risk from the malicious and relentless targeting of citizens with disinformation and personalised ‘dark adverts’ from unidentifiable sources, delivered through the major social media platforms we use every day,” warned the committee’s chairman, Damian Collins.

The report:
• Accuses Mark Zuckerberg, Facebook’s co-founder and chief executive, of contempt for parliament in refusing three separate demands for him to give evidence, instead sending junior employees unable to answer the committee’s questions.
• Warns British electoral law is unfit for purpose and vulnerable to interference by hostile foreign actors, including agents of the Russian government attempting to discredit democracy.
• Calls on the British government to establish an independent investigation into “foreign influence, disinformation, funding, voter manipulation and the sharing of data” in the 2014 Scottish independence referendum, the 2016 EU referendum and the 2017 general election.

The committee argues that, had Facebook abided by the terms of an agreement struck with US regulators in 2011 to limit developers’ access to user data, the scandal would not have occurred. “The Cambridge Analytica scandal was facilitated by Facebook’s policies,” it concludes. The 108-page report makes excoriating reading for the social media giant, which is accused of continuing to prioritise shareholders’ profits over users’ privacy rights. “Facebook continues to choose profit over data security, taking risks in order to prioritise their aim of making money from user data,” the report states, accusing the company of covering up leaks of user data. “It seems clear to us that Facebook acts only when serious breaches become public.”

Zuckerberg is also personally criticised by the committee in scathing terms, with his claim that Facebook has never sold user data dismissed by the report as “simply untrue”. “Mark Zuckerberg continually fails to show the levels of leadership and personal responsibility that should be expected from someone who sits at the top of one of the world’s biggest companies,” Collins added in a statement. Watson agreed. “Few individuals have shown contempt for our parliamentary democracy in the way Mark Zuckerberg has,” he said. “If one thing is uniting politicians of all colours during this difficult time for our country, it is our determination to bring him and his company into line.”

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I know you thought this was about the CIA. But no, it’s Russia again.

UK Must Investigate Foreign Influence And Voter Manipulation In Brexit Vote (Ind.)

Theresa May must launch an independent investigation into “foreign influence and voter manipulation” in the Brexit vote, a committee of MPs says today, amid growing evidence of lawbreaking by Leave campaigners. A highly critical report – which warns “democracy is at risk” from rogue practices on social media – turns its fire on the prime minister for the failure to probe their effect on the referendum result. No wide-ranging investigation has taken place, despite the main Vote Leave campaign, fronted by Boris Johnson and Michael Gove, being found by the Electoral Commission to have broken the law. The National Crime Agency, meanwhile, has launched a separate investigation into evidence of “multiple” criminal offences committed by Arron Banks and the Leave.EU campaign.

But Downing Street has fought off calls for a “Mueller-style” inquiry, on the scale of the US probe into alleged collusion with Russia by Donald Trump’s presidential campaign. Now the Digital, Culture, Media and Sport Committee has insisted an inquiry must be carried out, also looking into the 2017 general election and the 2014 Scottish referendum. It would establish “what actually happened with regard to foreign influence, disinformation, funding, voter manipulation, and the sharing of data, so that appropriate changes to the law can be made and lessons can be learnt for future elections and referenda”. Damian Collins, the committee’s Conservative chair, urged the prime minister to come clean about whether “Russian interference in UK politics” was being probed.

“We want to find out what was the impact of disinformation and voter manipulation on past elections including the UK referendum in 2016, and are calling on the government to launch an independent investigation,” he said. [..] The crisis emerged after the Brexit referendum, leading to the finding against Vote Leave which has been referred to the police for busting spending limits Crucially, the cash was used to pay data firm Aggregate IQ and – a whistleblower and an Oxford professor argue – potentially enabled it to precisely target enough voters on social media to have swayed the Brexit result. Mr Banks, Nigel Farage’s ally, could receive a two-year prison sentence if he is found to have “knowingly concealed” that an Isle of Man company handed up to £8m to Leave.EU – which would have been outlawed as a foreign donation.

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Saw that headline and though: elections must be coming up. And yes.

Australia Claims Foreign Government Hacked Major Political Parties (R.)

A cyber attack on Australian lawmakers that breached the networks of major political parties was probably carried out by a foreign government, Prime Minister Scott Morrison said on Monday, but did not name any suspects. As Australia heads for an election due by May, lawmakers were told this month told to urgently change their passwords after the cyber intelligence agency detected an attack on the national parliament’s computer network. The hackers breached the networks of major political parties, Morrison said, as he issued an initial assessment by investigators. “Our cyber experts believe that a sophisticated state actor is responsible for this malicious activity,” he told parliament.

“We also became aware that the networks of some political parties, Liberal, Labor and Nationals have also been affected.” Morrison did not reveal what information was accessed, but he said there was no evidence of election interference. Investors are still securing local networks, said Alastair MacGibbon, head of the Australian Cyber Security Centre, the government department responsible for online security. “Our political institutions represent high-value targets,” MacGibbon told reporters in the capital, Canberra.

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Problem is he doesn’t stand a chance of winning anything.

Varoufakis: ECB Profits Should Be Used For A European Poverty Fund (KTG)

The enfant terrible of euro-economics and former Greek Finance Minister Yanis Varoufakis reloaded his gun and shot: Profits from the European Central Bank should be used for a European Poverty Fund. Speaking at an event of his party DiEM25 in Thessaloniki, he said about the “New Deal in Europe and the World”, that Europe is currently facing four crises: public-private debt, very low investment, banking system and rising poverty. Especially about poverty, Varoufakis, revealed that last year the European Central Bank had profits of €91 billion, which are distributed to the finance ministries of countries with surplus. “A Fund to Combat Poverty could be founded tomorrow morning, in order to support the poor European family and this would be an integrative move and the fight against intolerance and anti-Europeanism and fascism.”

Addressing his Greek audience, he said “in DieM25/MeRA25 we are deeply European, we are criticizing the euro, we want to upgrade it, we are the only ones that have proposals to change the architecture of the euro. We want to restructure the euro. We do not propose exit from the euro, we are not threatening to exit the euro. This is a fact. He criticized the economic policies of his former SYRIZA comrades saying ‘“It is impossible at this time to have any recovery in Greece when small and medium-size businesses pay 75% of their profits to the state. You can not have a 100% pre-payment of the tax. You do that in a country when it is to destroy it.” [..] “Every eurozone country should have a parallel payment system,” he underlined.

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Well, they did vote to recognize Guiado as head of state.

Venezuela Denies EU Lawmakers Entry Given ‘Conspiratorial Motives’ (R.)

Venezuela denied a group of European Parliament deputies entry into the country on Sunday, arguing they had “conspiratorial motives” for flying to Caracas in the throes of a political crisis. The European Parliament last month joined a slew of Western nations in recognizing Venezuelan opposition chief Juan Guaido as interim head of state after President Nicolas Maduro won a second term in an election last year that critics denounced as a sham. The four deputies from the center-right European People’s Party (EPP) were traveling to Venezuela to meet with Guaido, one of them said in a video distributed via social media.

“They have retained our passports, they haven’t communicated the reason for our expulsion,” Esteban González Pons said. Venezuelan Foreign Minister Jorge Arreaza said on his Twitter account that the lawmakers had been advised several days ago they would not be allowed entry into the South American country. Venezuela would “not permit the European extreme right to disturb the peace and stability of the country with another of its rude, interventionist actions,” he wrote.

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Wonder how much money Monsanto has paid into the report.

..new biotech production techniques not only help preserve crops but also make them more nutritious.

..opportunities for British food and farming to increase productivity ..

Virtual Fences, Robot Workers, Stacked Crops: Farming In 2040 (O.)

It is 2040 and Britain’s green and pleasant countryside is populated by robots. We have vertical farms of leafy salads, fruit and vegetables, and livestock is protected by virtual fencing. Changing diets have seen a decline in meat consumption while new biotech production techniques not only help preserve crops but also make them more nutritious. This is the picture painted in a report from the National Farmers Union which attempts to sketch out what British food and farming will look like in 20 years’ time. “The Future of Food 2040 report is a catalyst to encourage us all to start the debate about our food and our future so we can plan ahead,” said Andrea Graham, NFU’s head of policy services and author of the report, who interviewed 50 experts across Britain’s food chain to gauge their views.

“It is also a reminder for government, at a critical time in British history, to make domestic food production a strategic priority in all policy making.” While some of the predictions may seem a long way off, others are already in their infancy. “Even now, there are technologies being developed that can care for crops on a plant-by-plant basis or control the grazing of cattle without physical fences, and by 2040 this technology will be commonplace in farming,” Graham said. The British farming sector will need to be more efficient if it is to meet a key NFU goal of producing net zero greenhouse gas emissions by 2040. “Over the next 20 years we will face potentially seismic changes in all aspects of society,” Graham added. “An increase in the global population and the need to mitigate climate change will provide opportunities for British food and farming to increase productivity and reduce its impact on the environment.”

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Food must come from sterile enviroments. No life allowed.

Return Of Wolves To Germany Pits Farmers Against Environmentalists (G.)

More than a century ago, wolves were hunted to extinction in Germany. These days, they’re back – and their presence is a source of political strife. Wolf attacks on livestock increased drastically in 2017, according to government statistics released at the weekend: they carried out 472 attacks, an increase of 66% over the previous year. The number of killed, injured or missing livestock – mostly sheep and goats – rose 55%, to 1,667. The issue of how to deal with wolves is pitting farmers who want to protect their livestock against environmentalists who prioritise the protection of vulnerable species. Julia Klöckner, the agriculture minister, said the latest figures proved the government needed to act.

Germany should shift its regulations to make it legal to remove individual wolves from a pack, she told the Neue Osnabrücker Zeitung. For more than a century, wolves were extinct in Germany. In recent years, however, especially since the country’s reunification in 1990, the animals have been reintroduced and are slowly making a comeback. They are especially prevalent in the former East German states, since many have crossed the border with Poland. Though environmentalists have lauded the return of the wolf, not everyone is happy that they are back – or that they have been awarded protected status. EU regulations outlaw the killing of wolves, allowing exceptions only when there is “no satisfactory alternative” or if people are in danger.

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Instead of simply saying don’t make the stuff anymore. London must think Brits are incredibly stupid people.

UK Plans To Make Plastic Packaging Producers Pay For Waste Disposal (R.)

Britain is to set out plans to overhaul its recycling system on Monday, including making plastic packaging producers pay the full cost of dealing with their waste and introducing a deposit return scheme for cans and bottles. The plans, which also aim to make household rubbish collections more consistent around the country, will be introduced by Environment Secretary Michael Gove and go out for consultation for three months. “We will introduce a world-leading tax to boost recycled content in plastic packaging, make producers foot the bill for handling their packaging waste, and end the confusion over household recycling,” Gove said in a statement. The tax will be payable by producers who fail to use enough recycled material.

At present, producers pay only around 10 percent of the cost of dealing with plastic packaging waste, the environment ministry said. Under an Extended Producer Responsibility (EPR) system, the industry will pay higher fees if its packaging is harder to reuse or recycle. EPR for packaging will raise between 800 million and one billion pounds a year for recycling and disposal, the ministry said. Government will seek views on two options for how a deposit return scheme might work for cans and glass or plastic bottles, it added. The first would target a large amount of drinks on the market, irrespective of container size. The second, known as the “on-the-go” model, would concern smaller container sizes – those most often sold for consumption outside the home.

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These birds spend most of their lives feeding at sea, returning to their nests only to breed.

Plastic Chemicals Discovered Inside Bird Eggs From Remote Arctic (Ind.)

Chemicals from plastics have been found inside the eggs of seabirds living in remote Arctic colonies, in the latest sign of pollution contaminating the furthest reaches of the planet. Scientists were concerned by the traces of phthalates, hormone-disrupting chemicals that have been banned from children’s toys due to their potential “gender-bending” effects. These substances are routinely applied to many plastic products, and probably came from the bottle tops and cigarette butts these seabirds often eat after mistaking them for food. The eggs were taken from northern fulmars living on an island in Lancaster Sound, more than 100 miles away from the nearest human settlement.

In a preliminary study, Dr Jennifer Provencher of the Canadian Wildlife Service tested the eggs of five fulmars and found phthalates in one, but warned the problem is likely to be far more pervasive. “These are some of the birds who have the lowest levels of accumulated plastic,” explained Dr Provencher. If fulmar colonies were tested in the North Sea, where levels of plastic consumption are far higher, she said the results could be far more dramatic. “Now the thing is to look at other populations and to see if they have the same chemicals, or other chemicals,” she said. In another study, Dr Provencher and her colleagues examined the eggs of both fulmars and black-legged kittiwakes, and found traces of more chemicals known as UV stabilisers and antioxidants. “We are finding multiple plastic-derived contaminants that are maternally transferred to the egg,” she said. “It’s really tragic.”


Scientists studied the eggs of northern fulmars from an Arctic island in Canada’s Lancaster Sound (Getty/iStock)

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Feb 082019
 


Salvador Dali They were there 1931

 

AOC, The Little Socialist That Could (Strassel)
Green New Deal Takes Its First Congressional Baby Step (IC)
Are Billionaires The American Dream? (NYMag)
China Is Unlikely To Become The World’s Largest Economy Anytime Soon (Colombo)
European Economy Raises Fresh Global Growth Fears (MW)
US Consumer Credit Hits $4 Trillion; Student, Auto Loans Hit All Time High (ZH)
Corbyn Sparks Labour Civil War Over Referendum (Ind.)
Brexit Deal May Not Be Put To MPs Until Late March (G.)
France Recalls Rome Envoy Over Worst Verbal Onslaught ‘Since The War’ (G.)
Rome’s War Of Words With Macron May Prove Self-Defeating (G.)
Fiat Chrysler Shares Plummet 12% On Weak Outlook (CNBC)
‘Globish’: Why France Has A Love-Hate Relationship With Global English (G.)
Trump’s Absurd Claim that Americans Are Free from Government Coercion (Bovard)
Albert Edwards: Negative Rates, 15% Budget Deficits And Helicopter Money (ZH)
Fed’s Powell On The Biggest Challenge Over The Next Decade (CNBC)

 

 

AOC is a step too far for Kimberley Strassel- and many others. She tweets: “The Republican Party has a secret weapon for 2020. It’s especially effective because it’s stealthy: The Democrats seem oblivious to its power. And the GOP needn’t lift a finger for it to work. All Republicans have to do is sit back and watch 29-year-old Rep. Alexandria Ocasio-Cortez . . . exist.”

That reminds me a lot of what many people said about Trump a few years ago, and that is no coincidence. AOC shakes up things like the Donald did, things in desperate need of shaking up.

She unveiled her Green New Deal, and got tons of ridicule. But 9 senators and 64 congressmen already sponsor her resolution. Perhaps her biggest danger is that they, the old guard, line up with her, and she becomes one of them. Or no, her biggest risk is in criticizing Trump and falling into the old guard that way. While her biggest danger is calling herself a socialist, which is a death sentence in the US.

And there’s her limited knowledge of energy issues, which apparently leads her to think present systems can be replaced 1-on-1 by renewable ones, while the no. 1 energy plan should be to use much less.

But she got something to say, this piece is pretty solid, and it will appeal to many disgruntelds:

AOC, The Little Socialist That Could (Strassel)

AOC, as she’s better known, today exists largely in front of the cameras. In a few months she’s gone from an unknown New York bartender to the democratic socialist darling of the left and its media hordes. Her megaphone is so loud that she rivals Speaker Nancy Pelosi as the face of the Democratic Party. Republicans don’t know whether to applaud or laugh. Most do both. For them, what’s not to love? She’s set off a fratricidal war on the left, with her chief of staff, Saikat Chakrabarti, this week slamming the “radical conservatives” among the Democrats holding the party “hostage.” She’s made friends with Jeremy Corbyn, leader of Britain’s Labour Party, who has been accused of anti-Semitism.

She’s called the American system of wealth creation “immoral” and believes government has a duty to provide “economic security” to people who are “unwilling to work.” As a representative of New York, she’s making California look sensible. On Thursday Ms. Ocasio-Cortez unveiled her vaunted Green New Deal, complete with the details of how Democrats plan to reach climate nirvana in a mere 10 years. It came in the form of a resolution, sponsored in the Senate by Massachusetts’ Edward Markey, on which AOC is determined to force a full House vote. That means every Democrat in Washington will get to go on the record in favor of abolishing air travel, outlawing steaks, forcing all American homeowners to retrofit their houses, putting every miner, oil rigger, livestock rancher and gas-station attendant out of a job, and spending trillions and trillions more tax money.

Oh, also for government-run health care, which is somehow a prerequisite for a clean economy. It’s a GOP dream, especially because the media presented her plan with a straight face – as a legitimate proposal from a legitimate leader in the Democratic Party. Republicans are thrilled to treat it that way in the march to 2020, as their set-piece example of what Democrats would do to the economy and average Americans if given control. The Green New Deal encapsulates everything Americans fear from government, all in one bonkers resolution.

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AOC already has 9 senators and 64 congressmen sponsoring her resolution. Look for them distancing themselves as soon as it hurts them in the polls.

Green New Deal Takes Its First Congressional Baby Step (IC)

Over the last few months, support for the Green New Deal has become a litmus test for 2020 Democratic hopefuls, and the resolution serves dual purposes: to unite lawmakers around the idea of a Green New Deal, and to offer a basic definition of what that means. For 2020 contenders who have conceptually supported the Green New Deal, the resolution makes clear that the phrase isn’t just a talking point, but connected to a specific set of policy priorities. Confirmed and rumored presidential hopefuls Elizabeth Warren, Kamala Harris, Kirsten Gillibrand, Cory Booker, and Bernie Sanders will be among the nine senators co-sponsoring the resolution. Sixty-four House Democrats will also be co-sponsoring the legislation, including Reps. Ro Khanna, D-Calif., Pramila Jayapal, D-Wash., and Joe Neguse, D-Colo.

“We’re going to be pressuring all of the 2020 contenders to back this resolution,” said Stephen O’Hanlon, a spokesperson for the Sunrise Movement, which helped launched the Green New Deal into the national spotlight with its sit-in at Pelosi’s office last November. “That’ll make it clear who’s using the Green New Deal as a buzzword and who’s actually serious about what it entails. For our generation, the difference between the Green New Deal as a buzzword and substantive policy is life and death.” [..] On Tuesday, the Sunrise Movement hosted some 500 watch parties around the country for a livestream laying out its next steps to support the resolution. As of Wednesday, the group was in the process of organizing visits to 600 congressional offices nationwide, for constituents to demand that their representatives co-sponsor Ocasio-Cortez and Markey’s measure. Supported by Justice Democrats — the group that backed Ocasio-Cortez’s primary run — Sunrise will also be launching a 15-city campaign tour through early primary states.

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2 weeks old but relevant.

Are Billionaires The American Dream? (NYMag)

In 1835, Alexis de Tocqueville produced one of the earliest accounts of the American dream. In his famous study of the Jacksonian U.S., the Frenchman wrote that Americans possessed “the charm of anticipated success” — a ubiquitous optimism that he attributed to our country’s democratic character, and to the “general equality of condition” that prevailed among its “people.” On Wednesday night, Sean Hannity took de Tocqueville to task. In the Fox News’ host’s telling, general economic equality is not a precondition for the American dream, but rather, an insurmountable obstacle to it — because the American dream is (apparently) to earn more than $10 million year without having to pay a top marginal tax rate higher than 37 percent.

Of course, Hannity did not actually frame his argument as a rebuke of de Tocqueville. His true target was Alexandria Ocasio-Cortez. After popularizing the idea of a 70 percent top marginal tax rate earlier this month, the freshman congresswoman recently suggested that the mere existence of billionaires was both immoral, and a threat to American democracy. “I do think that a system that allows billionaires to exist when there are parts of Alabama where people are still getting ringworm because they don’t have access to public health is wrong,” Ocasio-Cortez told the writer Ta-Nehisi Coates, during an interview on Martin Luther King Day.

One day later, the congresswoman approvingly quoted an op-ed by the economists Gabriel Zucman and Emmanuel Saez, which argued that the purpose of high taxes on the wealthy wasn’t merely to generate revenue, but rather, to safeguard “democracy against oligarchy.” Hannity’s not buying it. The Fox News host informed his audience Wednesday that Ocasio-Cortez had “called the American dream immoral,” and that she wants to “empower the government to confiscate” said dream. “Better hide your nice things,” Hannity advised his audience (whom he ostensibly believes to be composed primarily of billionaires), “because here come the excess police.”

[..] “Power and property may be seperated for a time, by force or fraud — but divorced never, ” Benjamin Leigh, a conservative legislator in Virginia’s House of Delegates, argued at that state’s Constitutional Convention in 1830. “For, so soon as the pang of separation is felt … property will purchase power, or power will take property.”

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Good to see my longtime friend Jesse Colombo slowly moves to my position on markets, now spelling them “markets”. And we see China largely the same too.

China Is Unlikely To Become The World’s Largest Economy Anytime Soon (Colombo)

As I have been warning for several years, China is experiencing a credit and asset bubble like Japan was in the 1980s. China’s powerful credit expansion in the past decade (as the chart below shows) is one of the main reasons why the global economy recovered from the Great Recession. China’s credit bubble of the past decade will prove to be a one-shot deal – in the next global economic downturn, there won’t be another large economy like China to binge on debt and create a temporary growth party that bails everyone else out.

An economic stagnation or slowdown in China is the least of our worries, I’m afraid. I am worried about a full-blown popping of their credit and asset bubble (like Japan in the early-1990s), which would reverberate around the world. In that scenario, Western exports to China would plunge, commodity-exporting economies from Australia to emerging markets would suffer, and the global economy would experience another severe recession if not an outright depression. The world has played with fire over the past decade and it’s just a matter of time before we all pay the price.

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Caught on Twitter: “Asked at a presser if he wakes up each morning regretting that he’s the @bankofengland governor in the age of Brexit, @markcarney1 replies: “I don’t wake up in the morning any more … I wake up in the middle of the night.”

European Economy Raises Fresh Global Growth Fears (MW)

The Bank of England and the European Commission both offered downbeat outlooks on Thursday, reaffirming growing fears about the health of Europe’s economy. Although, the BOE left interest rates unchanged, as expected, it cut its forecast for 2019 GDP to 1.2% versus its previous estimate of 1.7%, with its current level representing the weakest growth since 2009 when a crisis sparked by complex mortgage bonds cast a pall over the global financial system. “Naturally, the uncertainty over Brexit means considerable uncertainty over the U.K. macro outlook, and therefore monetary policy,” said Bill Diviney, senior economist at ABN Amro.

Both the BOE and Diviney still see a soft Brexit — where Britain leaves the European Union with a trade agreement in place — as the most likely scenario, but the U.K. economy seems destined to slow, notwithstanding any expectations of a trade resolution. [..] And it doesn’t look rosy on either side of the English Channel. On Thursday, the European Commission cut its forecast for 2019 eurozone growth to 1.3% in 2019, compared with the 1.9% expected in November. Underlining its forecast was weaker-than-expected industrial and manufacturing data for the eurozone’s biggest economy Germany. “We think there are a number of important take-aways,” said Diviney. “First of all, despite the large downgrade in economic growth forecasts, they probably do not go far enough, and further revisions are likely.”

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From revolving into non-revolving credit. Progess in America 2019.

US Consumer Credit Hits $4 Trillion; Student, Auto Loans Hit All Time High (ZH)

After a few months of wild swings, in December US consumer credit normalized rising by $16.6 billion, just below the $17 billion expected, after November’s whopping $22.5 billion. The surge in borrowing in November brought the total to just above $4 trillion for the first time ever on the back of a America’s ongoing love affair with auto and student loans. Revolving credit increased by $1.7 billion to $1.045 trillion, a modest slowdown since November’s $4.8 billion.

[..] while the slowdown in December credit card use may prompt fresh questions about the strength of the US consumer during the all-important holiday spending season, the recent dramatic upward revision to personal savings notwithstanding, one place where there were no surprises, was in the total amount of student and auto loans: here as expected, both numbers hit fresh all time highs, with a record $1.593 trillion in student loans outstanding, an impressive increase of $10.3 billion in the quarter, while auto debt also hit a new all time high of $1.155 trillion, an increase of $9.5 billion in the quarter. In short, whether they want to or not, Americans continue to drown even deeper in debt, and enjoying every minute of it.

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Is it too late for Corbyn to take control of the conversation? is he even capable?

Corbyn Sparks Labour Civil War Over Referendum (Ind.)

Jeremy Corbyn is battling to calm a growing Labour civil war over his refusal to support a fresh Brexit referendum, as some of his MPs threatened to quit the party in protest. The Labour leader was forced to justify his intentions after his new offer to help Theresa May deliver Brexit triggered accusations that he had torpedoed his party’s policy of keeping a public vote on the table. Amid growing tensions, Mr Corbyn wrote to party members to insist that party backing for a Final Say referendum remained an option – hours after furious Labour MPs accused their leader of helping enable Brexit.

The backlash was triggered when Mr Corbyn wrote to Ms May on Wednesday evening offering continued discussions in “constructive manner” with the aim of “securing a sensible agreement that can win the support of parliament and bring the country together”. Labour would support an exit deal if five conditions were met, he said, including a customs union with the EU and guarantees on workers’ rights. The move infuriated anti-Brexit MPs pushing for Labour to back giving the public the final say on Brexit, with two suggesting they were considering quitting the party over the issue. Owen Smith, who stood against Mr Corbyn for the party leadership in 2016, said Labour should be opposing the “disaster” that is Brexit.

Asked if Mr Corbyn’s letter paved the way for Labour MPs to support a Brexit deal put forward by Ms May, he told BBC 5Live: “I think that’s probably right. My fear is that this is the leadership rolling the pitch for accepting a version of Theresa May’s deal, and I think that will be at odds with our values and damaging to our country and damaging to the politics that we’ve traditionally believed it. “Brexit is a right-wing ideological project and we should be opposing it on those terms.”

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And by then, why bother?

Brexit Deal May Not Be Put To MPs Until Late March (G.)

The Brexit negotiations are being pushed to the brink by Theresa May and the EU, with any last-minute offer by Brussels on the Irish backstop expected to be put to MPs just days before the UK is due to leave. In strained talks on Thursday, during which Donald Tusk suggested that Jeremy Corbyn’s plan could help resolve the Brexit crisis, Theresa May and the European commission president, Jean-Claude Juncker, agreed to hold the next face-to-face talks by the end of February. That move cuts deep into the remaining time, piling pressure on the British parliament to then accept what emerges or face a no-deal scenario.

It is understood that EU officials are looking at offering May a detailed plan of what a potential technological solution to the Irish border might look like, which could be included in the legally non-binding political declaration on the future trade deal. The blueprint would pinpoint the problem areas and commit to breaching the technical gaps where possible to offer an alternative to the customs union envisaged in the withdrawal agreement’s Irish backstop. But officials believe it is increasingly likely that any renegotiated deal will only be put to the Commons at the end of March, necessitating even then an extension of the article 50 negotiating period to get legislation through parliament.

On Thursday the German finance commissioner, Günther Hermann Oettinger, suggested the chance of a no-deal Brexit was now as high as 60%. “If the British side asks for an extension of two or three months and there are reasons for that, I think there’s a good chance that the member states would accept that unanimously,” he said. “But in the eight or 12 weeks there needs to be the possibility of achieving progress and that there must be a withdrawal agreement at the end of that.”

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Old paradigms are dying everywhere. Given the state we find ourselves in, how bad can that be?

France Recalls Rome Envoy Over Worst Verbal Onslaught ‘Since The War’ (G.)

Paris has taken the extraordinary step of recalling its ambassador from Rome, in the worst crisis between the two neighbouring countries since the second world war. France blamed what it called baseless verbal attacks from Italy’s political leaders, which it said were “without precedent since world war two”. Italy’s two deputy prime ministers, the far-right Matteo Salvini and Luigi Di Maio of the populist, anti-establishment Five Star Movement, have in recent months criticised the French president, Emmanuel Macron, on a host of inflammatory issues, from immigration to the gilets jaunes (yellow vest) anti-government demonstrations.

Di Maio this week met leaders of the gilets jaunes seeking to run in May’s European parliament elections as he declared the “wind of change has crossed the Alps” and a “new Europe is being born of the yellow vests”. France said the comments were an unacceptable “provocation”. Announcing the immediate return to Paris of its ambassador for talks, the French foreign office said in a statement: “For several months, France has been the target of repeated, baseless attacks and outrageous statements. Having disagreements is one thing but manipulating the relationship for electoral aims is another. “All of these actions are creating a serious situation which is raising questions about the Italian government’s intentions towards France.”

Salvini responded by saying the Italian government did not want to fall out with France and suggested a meeting with Macron to fix the relationship. “I don’t want to row with anyone, I’m prepared to go to Paris, even by foot, to discuss the many issues we have,” he said. But, in a further dig at Macron, he said France must first address three issues: French police must stop pushing migrants back into Italy, end lengthy border checks blocking traffic and hand over around 15 Italian leftist militants who have taken refuge in France in recent decades.

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Macron with his sub-30% approval rating is not a threat.

Rome’s War Of Words With Macron May Prove Self-Defeating (G.)

Diplomatic etiquette would normally classify the recall of an ambassador for “consultations” as a middle-order symbol of displeasure. During the cold war, the summoning, or withdrawal, of an ambassador was mundane. More recently, Hungary pulled its ambassador from the Netherlands in 2017, in response to criticism by the outgoing Dutch ambassador in Hungary. But for France to withdraw its ambassador to Rome for the first time since the second world war represents a genuine diplomatic shock. For two European powers to fall out to this extent shows how far European populists are prepared to break the rules. Only a fortnight ago, faced by persistent insults from Rome, the Elysée chose to take the high road, saying it would not enter a stupidity contest.

President Emmanuel Macron had also promised not answer back, saying that is what the Italian populists wanted. But faced by Italian deputy prime minister Luigi Di Maio’s repeated courting of leaders of the gilet jaunes (yellow vests) protests that have repeatedly sparked violence in Paris, French patience snapped. It marks an extraordinary collapse in Franco-Italian relations since the recent high water mark of January 2018 when Macron signed a bilateral treaty of friendship alongside Italy’s previous prime minister, Paolo Gentiloni. That was only two months before the Italian elections in May. Macron had signed the treaty partly to reassure the Italians that Paris would not only face toward Berlin after Brexit.

But perhaps the seeds of the collapse were sown the day the treaty was signed. In Rome, Macron could not resist saying he hoped the Italians in their elections would make a pro-European choice – advice that Italians, fixated by migration from Libya, totally ignored by bringing a populist coalition government to power. [..] Italy, in recession and heading for only 0.2% growth this year, will need some allies in Europe and in Brussels. Its banking system remains undercapitalised. The Five Star Movement is determined to show it is on the side of the people, and not the bankers, but translating that emotion into practical budgetary policy is proving difficult. Insults by contrast come easier, and cheaper.

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Oh, well, it’s just cars.

Fiat Chrysler Shares Plummet 12% On Weak Outlook (CNBC)

Fiat Chrysler shares crashed by nearly 12 percent Thursday after the Italian-American automaker forecast a weak outlook for 2019. The automaker said it expects results in the first half of the year to be down over last year, in part because the company will not be selling two generations of the Jeep Wrangler side-by-side, as it did in 2018. It is also planning some Wrangler production downtime to retool factories for launch of the plug-in hybrid version of the iconic off-road machine in early 2020. The company also said continued actions to manage dealer inventories will hit its finances in the first half of the year. It is also facing higher-than-expected capital expenditures, shelling out roughly €500 million in connection with U.S. diesel emissions cases. It’s also paying an effective tax rate that’s about 25% higher than it was in 2018, mostly due to changes in the US.

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Best English must be Jamaican. Shows that languages are alive.

‘Globish’: Why France Has A Love-Hate Relationship With Global English (G.)

French writers were up in arms this week after the Salon du Livre book fair in Paris announced a celebration of young adult books that would feature a “Bookroom”, a “Photobooth”, and even a “Bookquizz”, a prospect so exciting it needs two zs. Such anglicisms, critics wrote, were an “unconscionable act of cultural vandalism”, employing the “sub-English known as Globish”. It is a lamentable irony, then, that Globish has been so energetically popularised by a Frenchman. In 2004, the former IBM executive Jean-Paul Nerrière began selling his system of simplified English (only 1,500 words) to students around the world. (Globish is a portmanteau of “globe” and “English”.)

The earliest attested use of the term, however, described in 1997 a more natural linguistic hybridisation of various “non-western forms of English” that had become just as “creative and lively” as the standard tongue. “Globish” is therefore both a trademark for one man’s singular vision of international communication, and a way of describing the branching of English into multiple exotic planetary species. But the literary Parisians see it simply as yet more Anglo-Saxon cultural imperialism. Well, as the French do sometimes say, c’est la life.

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A widespread idea, singling out Trump is not very useful.

Trump’s Absurd Claim that Americans Are Free from Government Coercion (Bovard)

In his State of the Union address Tuesday night, President Trump received rapturous applause from Republicans for his declaration: “America was founded on liberty and independence — not government coercion, domination, and control. We are born free, and we will stay free.” But this uplifting sentiment cannot survive even a brief glance at the federal statute book or the heavy-handed enforcement tactics by federal, state, and local bureaucracies across the nation. In reality, the threat of government punishment permeates Americans’ daily lives more than ever before: The number of federal crimes has increased from 3 in 1789 to more than 4000 today.

Congress has criminalized “transporting alligator grass across a state line; unauthorized use of the slogan ‘Give a hoot, don’t pollute’; and pretending to be a 4-H club member with intent to defraud,” as the Buffalo Criminal Law Review noted. Law enforcement agencies arrested over 10 million people in 2017— roughly three percent of the population. Trump momentarily noticed the existence of government coercion last month when he complained about the FBI using “29 people” and “armored vehicles” for the arrest of Roger Stone. But SWAT teams conduct up to 80,000 raids a year, according to the ACLU, mostly for drug arrests or search warrants. Many innocent people have been killed in such raids.

Trump on Tuesday highlighted the case of Alice Johnson, unjustly sentenced to life in prison for a nonviolent drug offense. Trump’s commutation of her sentence is no consolation to the targets of 1.6 million drug arrests in 2017 – and it is not like those individuals showed up voluntarily at police stations asking to be “cuffed-and-stuffed.” More people are arrested for marijuana offenses than for all violent crimes combined, according to FBI statistics. No coercion? Tell that to the scores of thousands of victims of asset forfeiture laws, which entitle law enforcement to confiscate people’s cash, cars, and other property based on the flimsiest accusation.

Federal law-enforcement agencies seized more property via asset forfeiture provisions in 2014 year than all the burglars stole from homeowners and businesses nationwide. Since 1970, the number of people confined in American prisons has increased by over 500 percent. Almost 10 percent of all American males will end up in prison at some point in their lives, according to an a 1997 Justice Department report. More than 10 percent of black males aged 20 to 34 were behind bars as of 2006, according to the Journal of American History.

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Jay Powell flew over the cuckoo’s nest.

Albert Edwards: Negative Rates, 15% Budget Deficits And Helicopter Money (ZH)

Earlier this week, when the San Fran Fed published a paper that suggested that the recovery would have been stronger if only the Fed had cut rates to negative, we proposed that this is nothing more than a trial balloon for the next recession/depression, one in which the Federal Reserve will seek affirmative “empirical evidence” that greenlights this unprecedented NIRPy step (in addition to QE of course). Today, in his latest note to clients after returning from a 2 week vacation in Jamaica, SocGen’s Albert Edwards picks up on this point and cranks it up to 11 writing that “as central banks thrash around for new tools, I have long thought the next recession would trigger the adoption of helicopter money and deeply negative Fed Funds. Clients have been sceptical of the latter because of the negative impact on bank margins, but now I am more convinced than ever that we will see negative Fed Funds.”

Predictably, Edwards takes aim at the SF Fed “analysis”, writing that “just because the San Fran Fed has published this paper doesn’t mean the Washington Fed will adopt the policy in the next recession, but with this economic cycle clearly now in its final act, one can sense that a number of trial balloons are being floated on what the Fed might do in the next recession. This is just one of them.” More to the point, Edwards also focuses on the recent resurgence of interest in Modern-Money Theory, i.e., MMT, or government-mandated helicopter money, which is predictably a “theory” espoused by socialists everywhere most notably Bernie Sanders and his economic advisors…

… and writes that “many of the more radical Democrats in the US seem to be adopting the idea and since I expect the US budget deficit to soar to 15% of GDP in the next recession, the ideas of MMT will surely become even more popular.” Edwards is convinced that “the Fed and other central banks will be desperate enough to adopt outright monetisation (aka helicopter money, that is to say the direct central bank financing of public sector deficits) in the next recession. And as that will coincide with public sector deficits in the mid teens, we will be conducting a live MMT experiment. Welcome to a brave new world!”

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If there’s anything that typifies how today’s institutions view the world, it must be that they see themselves in the frontline fighting against the problems they first caused.

Fed’s Powell On The Biggest Challenge Over The Next Decade (CNBC)

Sluggish productivity and widening wealth gap are the biggest challenges facing the U.S. over the next decade, Federal Reserve Chairman Jerome Powell said Wednesday. Speaking at a town hall in Washington D.C. to a group of educators, the central bank leader said his greatest economic fears lie outside the Fed’s purview. Specifically, he called for more aggressive policies to address income inequality. Wages at the middle and lower levels have “grown much more slowly” than those at the higher end, he said. “We want prosperity to be widely shared. We need policies to make that happen,” Powell added.

For the chairman, the forum was a chance to take some lighter questions — he revealed that to relax he plays guitar and rides his bicycle — but he also turned serious when addressing the issues of the future. Powell stressed the importance of increasing labor force participation and improving mobility between income classes, which is an area where he said the U.S. has lagged in recent years. “That’s not our self-image as a country, nor is it where we want to be,” he said. “There are policies that we need to do that everyone should be able to agree on that will change mobility, improve people’s chances and enable people to better take part in the workforce of the future,” Powell added.

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Feb 062019
 


Pablo Picasso Portrait de femme au col d’hermine (Olga) 1923

 

Trump Calls For End To ‘Politics Of Revenge,’ Touts ‘Hottest Economy’ (AP)
Trump, Kim To Hold Second Summit In Vietnam At End Of February (AP)
Too Fast, Too Furious (Roberts)
Elizabeth Warren Apologizes For Identifying As Native American (MW)
May Rules Out Brexit Delay And Hard Border With Ireland (G.)
Ireland And EU Discuss Emergency Funding For No-Deal Brexit (G.)
China: Expansion, Stagnation and Decline (CHSmith)
French Lawmakers Approve Controversial ‘Anti-Riot’ Bill (F24)
Judge Pauses Lawsuits Against Cryptocurrency Company Quadriga (R.)
5G Wireless: A “Massive Health Experiment” (SHTF)
18% Of Young People In UK Do Not Think Life Is Worth Living (G.)
50,000 Elderly In UK -77 Per Day- Die Waiting For Social Care (G.)

 

 

At least they all agree on Venezuela.

Trump Calls For End To ‘Politics Of Revenge,’ Touts ‘Hottest Economy’ (AP)

Facing a divided Congress for the first time, President Donald Trump on Tuesday called on Washington to reject “the politics of revenge, resistance and retribution.” He warned emboldened Democrats that “ridiculous partisan investigations” into his administration and businesses could hamper a surging American economy. Trump’s appeals for bipartisanship in his State of the Union address clashed with the rancorous atmosphere he has helped cultivate in the nation’s capital — as well as the desire of most Democrats to block his agenda during his next two years in office. Their opposition was on vivid display as Democratic congresswomen in the audience formed a sea of white in a nod to early 20th-century suffragettes.

Trump spoke at a critical moment in his presidency, staring down a two-year stretch that will determine whether he is re-elected or leaves office in defeat. His speech sought to shore up Republican support that had eroded slightly during the recent government shutdown and previewed a fresh defense against Democrats as they ready a round of investigations into every aspect of his administration. “If there is going to be peace and legislation, there cannot be war and investigation,” he declared. Lawmakers in the cavernous House chamber sat largely silent.

[..] One bright spot for the president has been the economy, which has added jobs for 100 straight months. He said the U.S. has “the hottest economy anywhere in the world.” He said, “The only thing that can stop it are foolish wars, politics or ridiculous partisan investigations” an apparent swipe at the special counsel investigation into ties between Russia and Trump’s 2016 campaign, as well as the upcoming congressional investigations. The diverse Democratic caucus, which includes a bevy of women, sat silently for much of Trump’s speech. But they leapt to their feet when he noted there are “more women in the workforce than ever before.”

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Haven’t heard Moon for a while. There’s talk of a NoKor industrial area reopening.

Trump, Kim To Hold Second Summit In Vietnam At End Of February (AP)

President Donald Trump said Tuesday that he will hold a two-day summit with North Korea leader Kim Jong Un Feb. 27-28 in Vietnam to continue his efforts to persuade Kim to give up his nuclear weapons. Trump has said his outreach to Kim and their first meeting last June in Singapore opened a path to peace. But there is not yet a concrete plan for how denuclearization could be implemented. Denuclearizing North Korea is something that has eluded the U.S. for more than two decades, since it was first learned that North Korea was close to acquiring the means for nuclear weapons. “As part of a bold new diplomacy, we continue our historic push for peace on the Korean Peninsula,” Trump said in his State of the Union address.

Director of National Intelligence Dan Coats told Congress last week that U.S. intelligence officials do not believe Kim will eliminate his nuclear weapons or the capacity to build more because he believes they are key to the survival of the regime. [..] At the second Trump-Kim summit, some experts say North Korea is likely to seek to trade the destruction of its main Yongbyon nuclear complex for a U.S. promise to formally declare the end of the 1950-53 Korean War, open a liaison office in Pyongyang and allow the North to resume some lucrative economic projects with South Korea. “Our hostages have come home, nuclear testing has stopped, and there has not been a missile launch in 15 months,” Trump said. “If I had not been elected President of the United States, we would right now, in my opinion, be in a major war with North Korea.

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Interesting, good graph. It’s just that referring to ‘markets’ means you’re guaranteed to get so many things wrong. There are no markets when the Fed decides prices insead of allowing markets to do so.

Too Fast, Too Furious (Roberts)

As noted by Deutsche Bank’s Parag Thatte noted recently: “While the S&P 500 rallied +15% since late December, equity funds have continued to see large outflows. As Thatte elaborates, “US equity funds in particular have continued to see large outflows (-$40bn) since then, following massive outflows (-$77bn) through the sell-off from October to December.” This confirms our concern the recent rally has primarily been a function of short-covering and repositioning in the markets rather than an “all-out” buying spree based on a “conviction” the “bull market” remains intact.

David Rosenberg recently confirmed the same: “Let’s go back to December for a minute. This was the worst December since 1931, mind you, followed by the best January since 1987. This is nothing more than market that has gone completely manic. To suggest that there is anything fundamental about this dead-cat bounce in equities is laughable. This is an economy, and a market, that couldn’t even sustain a 3% yield on the 10-year T-note. It sputtered at the thought of the Fed taking the funds rate marginally above zero on a ‘real’ basis, even as it feasted on unprecedented stimulus for a such a late-cycle economy. Yes, Powell et al. helped trigger this latest up-leg, not just at last week’s meeting, but in the lead-up to the confab as well. The Fed has been crying uncle for weeks now.”

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Too many attempts at covering lies with other ones. What was she thinking?

Elizabeth Warren Apologizes For Identifying As Native American (MW)

Sen. Elizabeth Warren apologized Tuesday for previously identifying herself as a Native American. In an interview with the Washington Post, the Massachusetts Democrat expanded on an apology issued last week to the Cherokee Nation. “I can’t go back,” she told the Post. “But I am sorry for furthering confusion on tribal sovereignty and tribal citizenship and harm that resulted.” As a presidential candidate, Warren has been trying to fight accusations that she identified as Native American to advance her career as a professor at Harvard and Penn law schools. In the same report, the Post published Warren’s previously undisclosed 1986 registration card to the State Bar of Texas, in which she handwrote her ethnicity as “American Indian.”

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Thought she might flee into an Article 50 extension. But it wouldn’t bring anything. She’s close to checkmate.

May Rules Out Brexit Delay And Hard Border With Ireland (G.)

Theresa May fired a warning shot at Brexit supporters on Tuesday, insisting there was “no suggestion” Britain would leave the EU without an insurance provision to protect against a hard border in Northern Ireland. At a speech in Belfast, May would only accept that technology could “play a part” in any alternative arrangements and that she would not countenance anything that would disrupt the lives of border communities. Brexit supporters immediately expressed their alarm at some of May’s language, which they fear could be read as a step back from previous assurances. “She knows what she promised us,” one ERG source said. “Even if she didn’t mean what she said, we do.”

The comments came as May prepared to meet EU leaders in Brussels for the first time since the historic defeat of her Brexit deal, where she is expected to formally request the reopening of the withdrawal agreement in order to address concerns about the backstop. The prime minister will travel to the Belgian capital on Thursday, meeting the European commission president, Jean-Claude Juncker, the EU parliament president Antonio Tajani, and the European council president. Donald Tusk. Both Tusk and Juncker have been adamant that the withdrawal agreement will not be reopened.

Number 10 sources suggested they did not expect a warm reception, but that it would signal the start of a new diplomatic process, involving proposals on the backstop worked on by MPs and ministers. Earlier on Tuesday, May told her cabinet she would not countenance any delay to the UK’s exit on 29 March, a message to ministers such as Jeremy Hunt and Sajid Javid who have suggested at least some delay might now be inevitable. Ministers who are more pessimistic about the prospects of the UK leaving on time with a deal held their tongues in the meeting after May’s warning. “She was pretty clear she had no time for anyone calling for it to be extended,” one cabinet source said.

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“He has previously said Ireland would seek “mega-money” from the EU.”

Ireland And EU Discuss Emergency Funding For No-Deal Brexit (G.)

Ireland is in talks with the EU over a substantial Brexit emergency fund to offset the damage caused to the country’s €4.5bn (£3.96bn) food exports to Britain if the UK crashes out of the bloc with no deal next month. As Theresa May prepares for a crunch meeting in Brussels on Thursday, officials at the European commission are already looking at continuous compensatory measures for Ireland as part of an ongoing arrangement that could last years. Contingency funds to compensate farmers have already been discussed at the highest levels and are expected to arise in talks with the taoiseach, Leo Varadkar, during a round of meetings in Brussels on Wednesday.

Sources say Ireland will be looking for a “long-term fix” in EU budget talks in April rather than a lump sum Brexit bailout. Politicians have cited the ongoing assistance given to the Baltic states after Russia banned certain food exports from the EU as an example of financial solidarity it hopes to win in a no-deal Brexit. Ireland exports €4.5bn worth of food and drink a year to the UK, ranging from beef to cheddar cheese. Calculations by the Department of Agriculture put the cost of tariffs under World Trade Organization rules at €1.7bn. Michael Creed, Ireland’s minister for agriculture, food and the marine, has said this would be an “existential challenge” for the food and drink sector. He has previously said Ireland would seek “mega-money” from the EU.

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“China entered 2008 with $8 billion in officially counted debt; 10 years later that debt is $40 trillion..”

China: Expansion, Stagnation and Decline (CHSmith)

China entered 2008 with $8 billion in officially counted debt; 10 years later that debt is $40 trillion, plus unknown trillions more in the shadow banking system which expanded the options for risky speculation and massive expansions of credit. Like all the other stagnating economies, China’s “solution” to stagnation was to expand debt-funded speculation and “investments” with little to no actual return. The high water mark of China’s financialization orgy was 2018. From now on, adding debt simply adds more drag on the underlying economy, as income is diverted to service speculative debt and defaults start hollowing out both the official banking system and the shadow banking system.

All the policies that worked in the Boost Phase no longer work. the policy tool chest is empty, and so China’s leadership is doing more of what’s failed: burying bad debt off the visible balance sheets, re-issuing new loans to pay off defaulted debt, and all the usual tricks of a failed banking/credit system. Japan has papered over its systemic rot and decline for 30 years by using a financial Perpetual Motion Machine: the state borrows and spends trillions by selling bonds to the central bank, which in effect prints “free money” for the state to burn propping up a sclerotic, corrupt, failed status quo.

If that’s policy makers’ idea of success, they are delusional. Credit/asset bubbles all deflate, and central bank buying of assets only gives the lie to the illusion of stability and market liquidity. Simply put, there is no indication China’s leadership has any plan to manage the inevitable stagnation and decline of China’s economy that is now painfully obvious to anyone with the slightest willingness to look beneath the flimsy propaganda of official statistics. They are not alone, of course; every other major economy is equally bereft of policies and equally dependent on bogus statistics and debt to paper over the decline.

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Macron support slips further. “50 MPs from Macron’s own party abstained from voting”.. but “The main thing is that there were no votes against..”, says the party.

French Lawmakers Approve Controversial ‘Anti-Riot’ Bill (F24)

French MPs on Tuesday approved an anti-rioting bill giving security forces the power to ban suspected hooligans from demonstrating, in a controversial bid to crack down on violence that has marred Yellow Vest protests over the last three months. Opponents say the bill, approved by the lower house of parliament by 387 votes to 92, contravenes the constitutional right to demonstrate. Under its most contentious provision, government officials would be able to ban people suspected of being hooligans from taking part in demonstrations – without oversight from a judge. Inspired by legislation used to crack down on football hooligans, the new law calls for a six-month prison sentence and a €7,500 ($8,500) fine for violators.

The legislation, if passed by the upper house and approved by the constitutional council, would also allow fines of €15,000 ($17,000) and a one-year prison term for demonstrators covering or masking their faces to escape identification. It would also hand French police greater powers to search would-be demonstrators for weapons. [..] Unusually, some 50 MPs from Macron’s own party, the Republic on the Move (LREM), abstained from voting in favour of the legislation on Tuesday in a sign of divisions within the group. [..] “The main thing is that there were no votes against,” Gilles Le Gendre, who heads LREM’s parliamentary group, told reporters after the vote on Tuesday.

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A very curious case. We’ll hear much more of it.

Judge Pauses Lawsuits Against Cryptocurrency Company Quadriga (R.)

A cryptocurrency platform that lost access to millions of dollars when its founder died with sole knowledge of company passwords has been granted a temporary reprieve from creditor lawsuits. Halifax judge Michael Wood on Tuesday ordered a 30-day stay that precludes filing of claims against Quadriga, a Canadian cryptocurrency exchange that has left thousands of investors without their money after the death of founder Gerald Cotten. Customers have threatened lawsuits. Ernst & Young has been appointed the company’s third-party monitor, to help manage Quadriga’s finances during the process.

Cotten, who died in December of complications from Crohn’s disease while in India, was the only person who had passwords to digital wallets containing C$180 million ($137.13 million) in cryptocurrencies, according to court filings. He was 30 years old. “Despite repeated and diligent searches, I have not been able to find (the passwords) written down anywhere,” his widow Jennifer Robertson said in an affidavit. A court file indicates Quadriga owes 115,000 users the equivalent of C$250 million ($190.46 million). The document showed Quadriga has $30 million in bank drafts, many of which it has had trouble depositing. Lawyer Maurice Chiasson told the court the company wants time to find the C$250 million it owes users. According to court filings the company is considering selling its platforms to cover its debts.

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The riches of smartphones.

5G Wireless: A “Massive Health Experiment” (SHTF)

Experts are warning that superfast broadband known as 5G could cause cancer in humans, and the usage of 5G is nothing more than a “massive health experiment.” 5G could very well be a global catastrophe that kills wildlife, gives people terminal diseases, and causes the Earth’s magnetic field to change, according to shocking claims by a technology expert. Arthur Robert Firstenberg is an American author and an activist for electromagnetic radiation and health. In his 1997 book Microwaving Our Planet: The Environmental Impact of the Wireless Revolution, he claimed: “The telecommunications industry has suppressed damaging evidence about its technology since at least 1927.”

Firstenberg has also founded the independent campaign group the Celluar Phone Task Force and since 1996 he has argued in numerous publications that wireless technology is dangerous. According to a report by the Daily Star, Firstenberg has also recently started an online petition calling on world organizations, such as the United Nations, World Health Organisation (WHO), and European Union to “urgently halt the development of 5G,” which is due to be rolled out this year. In fact, Verizon has activated the world’s first 5G networks in four cities in the United States: Houston, Indianapolis, Los Angeles, and Sacramento. According to the Firstenberg, wireless networks are “harmful for humans” and the development of the next generation is “defined as a crime” under international law, as he states it in the online petition.

When speaking to The Daily Star Online, Firstenberg said this 5G rollout is deadly. “There is about to be as many as 20,000 satellites in the atmosphere. The FCC approved Elon Musk’s project for 12,000 satellites on November 15th and he’s going to launch his in mid-2019. I’m getting reports from various parts of the world that 5G antennas are being erected all over and people are already getting sick from what’s there now and the insect population is getting affected,” Firstenberg stated.

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More riches of smartphones. Someone soon will propose a better term than ‘smart’-phones.

18% Of Young People In UK Do Not Think Life Is Worth Living (G.)

The number of young people in the UK who say they do not believe that life is worth living has doubled in the last decade, amid a sense of overwhelming pressure from social media which is driving feelings of inadequacy, new research suggests. In 2009, only 9% of 16-25-year-olds disagreed with the statement that “life is really worth living”, but that has now risen to 18%. More than a quarter also disagree that that their life has a sense of purpose, according to a YouGov survey of 2,162 people for the Prince’s Trust, a charity that helps 11 to 30-year-olds into education, training and work. Youth happiness levels have fallen most sharply over the last decade in respect of relationships with friends and emotional health, the survey found, while satisfaction with issues like money and accommodation have remained steady.

The Prince’s Trust has been gauging youth opinion for 10 years and found that just under half of young people who use social media now feel more anxious about their future when they compare themselves to others on sites and apps such as Instagram, Twitter and Facebook. A similar amount agree that social media makes them feel “inadequate”. More than half (57%) think social media creates “overwhelming pressure” to succeed. The gloomy view on life being taken by a growing minority of young people comes amid reports of an increased rate of teenage suicide. It was reported on Sunday that official statistics due later this year will show that suicides now occur at more than five in 100,000 teenagers in England. That contrasts with a figure of just over three in 100,000 in 2010.

“Social media has become omnipresent in the lives of young people and this research suggests it is exacerbating what is already an uncertain and emotionally turbulent time,” said Nick Stace, UK chief executive of The Prince’s Trust. “Young people are critical to the future success of this country, but they’ll only realise their full potential if they believe in themselves and define success in their own terms. It is therefore a moral and economic imperative that employers, government, charities and wider communities put the needs of young people centre stage.”

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Britain gets rid of its old and its young. And presumably other ‘weaker’ groups.

50,000 Elderly In UK -77 Per Day- Die Waiting For Social Care (G.)

More than 50,000 people have died waiting for care while ministers dither over long-awaited plans to overhaul the funding of social care, a charity has claimed. Age UK estimated that 54,000 people – or 77 a day – have died while waiting for a care package in the 700 days since the government first said in March 2017 it would publish its social care green paper, which has since been delayed several times. The claim came as a cross-party group of MPs warned that the government was “in denial” about the perilous state of English local authority finances – a crisis driven by a growing demand for the care of vulnerable adults and children.

The Commons public accounts committee (PAC) said that after eight years in which central government funding had halved, councils were under “enormous pressure” just to maintain essential services. MPs accused ministers of having no meaningful plan to ensure local authority finances were sustainable in the future. Overall spending by local authorities on services fell by 19.2% in real terms between 2010-11 and 2016-17, according to the report. Meg Hillier, the committee chair said: “Government needs to get real, listen fully to the concerns of local government and take a hard look at the real impact funding reductions have on local services.”

The chancellor, Philip Hammond, announced a funding boost for councils at last autumn’s budget, amounting to £1.4 bn in 2018-19 and 2019-20. But the PAC said such short-term fixes failed to deal with the underlying challenges facing councils. It urged the government to focus on assuring the long-term sustainability of local authority finances, and be more ambitious than simply allowing them to “cope”.

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