Apr 282021
 


Juan de la Corte (1597–1660) Lot And His Daughters Escaping From The Destruction Of Sodom And Gomorrah

 

COVID Pill That Cures Body At First Signs Of Infection May Come This Year (JTN)
Single Dose Of Covid Vaccine Can Nearly Halve Transmission Of Virus (G.)
The BBC & Bloomberg on India: B Stands For Bullshit. (Slog)
Oxford Jab ‘Could Be Banned For Under-40s’ After Blood Clot Reports Double (Metro)
A New World Order Brought To You By COVID-19 (Whitehead)
Scientists “Debunking” The Wuhan Lab Leak Theory Linked to CCP (NP)
Don’t Look Now (Jim Kunstler)
Supply Chains Implode As “Price Doesn’t Even Matter Anymore”
Gundlach Rejects The Fed’s “Inflation Is Transitory” Narrative (ZH)
CNN’s New “Reporter,” Natasha Bertrand, is a Deranged Conspiracy Theorist (Greenwald)
The Deep State Targets Matt Gaetz (AG)
Apple iOS 14.5 Update Includes ‘App Tracking Transparency’ Feature (G.)
Google Ad Surge Drives Up Profits For Parent Firm Alphabet (Y!)
Hunter Biden To Guest Teach A Class On “Fake News” This Fall (DM)

 

 

I forget who drew my attention to this UK government report, Covid-19 Response Spring 2021, but it paints a very stark and completely ignored reality: only 66% of people can ever be successfully vaccinated and may be protected.

34% either can’t be jabbed for medical reasons, or the vaccines don’t catch on. And that’s assuming full uptake, which of course you’ll never ever get. So the number of not successfully vaccinated will be higher than 34%, perhaps quite a bit, no matter the PR campaigns and threats.

This should put the entire Covid response on its head, but for some reason it doesn’t. Those 34+% would appear to be ineligible for a “vaccine passport” as well, depriving them of basic human rights.

 

 

 

 

Lemme guess: Pfizer waits until everyone has been vaccinated, and then introduces this pill?

COVID Pill That Cures Body At First Signs Of Infection May Come This Year (JTN)

The Pfizer pharmaceutical company is conducting trials on an antiviral drug could be ready for public use later this year that is intended to attack the spine of the SARS-CoV-2 virus and result in a cure to the sickness. The oral drug would stop the virus from mutating in the nose, throat and lungs, according to The Telegraph newspaper, ultimately causing the virus to dissipate. The possible home cure is being tested on 60 volunteers ages 18 and 60 at Pfizer facilities in the U.S. and Belgium. “We have designed PF-07321332 as a potential oral therapy that could be prescribed at the first sign of infection, without requiring that patients are hospitalized or in critical care,” said Mikael Dolsten, who leads the company’s worldwide research, development and medical division.


The first phase of the trial looks at the tolerance to the drug including “significant side effects, and how people feel after taking it,” according to documents. The second phase studies the response to several doses, and the third phase looks at food consumption while taking the pill. More trials would be needed to determine how the drug reacts with people who are infected with the virus. Pfizer says if the trials are successful the drug could be available for public use later this year.

Read more …

VItamin D can do that too. Ivermectin can do more.

Single Dose Of Covid Vaccine Can Nearly Halve Transmission Of Virus (G.)

A single dose of a Covid-19 vaccine can slash transmission of the virus by up to half, according to a Public Health England study. The PHE finding offers further hope that the pandemic can be brought under control as it indicates that vaccinated people are far less likely to pass the virus on to others. The study found that people given a single dose of either the Pfizer/BioNTech or Oxford/AstraZeneca vaccines – and who became infected at least three weeks later – were between 38% and 49% less likely to pass the virus on to people living in their homes, compared with those who were unvaccinated. Protection was seen from about 14 days after vaccination, with similar levels regardless of a person’s age. Other studies have already shown that both vaccines are highly effective at stopping people getting sick and ending up in hospital.

Experts will now assess whether two doses of vaccine can cut transmission of the virus even further, and more work is being carried out on transmission in the general population. PHE said similar results could be expected in places where the risk of transmission is like in the home, such as shared accommodation and prisons. The health secretary, Matt Hancock, said: “This is terrific news – we already know vaccines save lives and this study is the most comprehensive real-world data showing they also cut transmission of this deadly virus. “It further reinforces that vaccines are the best way out of this pandemic as they protect you and they may prevent you from unknowingly infecting someone in your household.

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I’m guessing the truth is somewhere in the middle. India is not doing great right now, but it’s also not collapsing.

The BBC & Bloomberg on India: B Stands For Bullshit. (Slog)

Unless you made an early getaway to Planet Drongo before the lockdown, you will have read pretty much everywhere that “India sees world’s highest daily cases amid oxygen shortage”. In fact, the BBC tells us that “some people” have died waiting for oxygen, the Indian health service is “completely overwhelmed” and the country now has “sixteen million cases”. So it’s a disaster, right? Well actually, no – it isn’t. The Indian health ministry has already made it clear that the Covid19 variant they’re dealing with this year has “a considerably lower death rate than the previous version”. Go to the Worldometer site, and you’ll see that India’s deaths per million is a minute 134: that’s 7% of the US and French figures, 6% of the UK and Italy’s and the lowest by far of any country in the Top 30 for cases.

Virtually no vaccination has been undertaken in India (only 1.3% are fully vaccinated) and the country is not using lockdowns. The Times of India has just denied the BBC’s ‘deaths from oxygen shortage’ fakery. What India IS doing, however, is employing the anti-inflammatory drugs tocilizumab and itolizumab and the antivirals favipiravir and hydroxychloroquine on a very wide scale. Go to Pharma site/accolyte spaces, and you’ll see all four drugs being rubbished: the Pharmafia and their bureaucratic whores don’t want any signs of a success to get out. But the Truth already is out there: India is doing spectacularly well without either vaccines or lockdown. You won’t find that reality expressed anywhere in the Western MSM, but the facts show that its infection management drugs have delivered one of the lowest case to death rates on the planet.

Not that you’d notice, reading Bloomberg: “India saw the world’s biggest one-day jump in coronavirus cases ever as a ferocious new wave grips the country, overwhelming hospitals and crematoriums and prompting frantic cries for help on social media. The South Asian nation reported 314,835 new infections Thursday, topping a peak of 314,312 recorded in the U.S. on Dec. 21. People took to Twitter and Instagram to call for everything from hospital beds to medicine and doorstep Covid-19 tests. The grim milestone shows how the pandemic crisis has shifted firmly to the developing world, where variants and complacency are threatening containment measures and there’s a lack of vaccines, with supplies dominated by richer nations.”

It’s a pack of lies from end to end. India has a population of 1.4 billion people – so overcrowding is almost generic – and being four times more people than the US, the comparison with America is completely ludicrous. Hospitals do not get overwhelmed when 134 folks out of a million get ill. India’s water purity and basic hygiene measures are very Third World. Yet despite all that, it is doing phenomenally well against Covid….by having and doing respectively none of the advantages and policies of the West.

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“..the total number of people in the UK who developed blood clots after getting one dose has gone from 79 to 168 in a fortnight..”

Oxford Jab ‘Could Be Banned For Under-40s’ After Blood Clot Reports Double (Metro)

Under-40s may be offered an alternative to the Oxford-AstraZeneca vaccine after blood clot reports doubled, reports claim. The chance of dying from a blood clot after having the jab is about one in one million – with 19 fatalities from around 20 million vaccinations. However, the total number of people in the UK who developed blood clots after getting one dose has gone from 79 to 168 in a fortnight, Medical Healthcare Products and Regulatory Agency (MHRA) data suggests. These new cases have taken the odds of experiencing a blood clot up from one in 250,000 to one in 126,000. The MHRA has reiterated that the benefits of the Oxford-AstraZeneca jab outweigh the risks for most people – but is considering offering under-40s the Pfizer or Moderna vaccine given that younger people are more likely to be affected by blood clots, The Telegraph claims.


It comes after the Joint Committee on Vaccination and Immunisation (JCVI) decided that under-30s should be offered an alternative to the Oxford jab. Currently, anyone over the age of 45 can get a jab in England. Over-50s in Scotland and Wales are being offered their doses, while Northern Ireland has already started vaccinating over-35s. Deputy chief medical officer Jonathan Van-Tam said on April 7 that 0.8 per 100,000 30 to 39-year-olds suffered serious blood clots after getting their Oxford/AstraZeneca jab. This was compared to 2.7 in 100,000 who would be kept out of intensive care by taking the vaccine. But these figures were based on fewer cases and the MHRA is yet to release what these odds are now 168 people have had blood clots.

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“The new platinum card of the Covid age is the vaccine certificate.”

A New World Order Brought To You By COVID-19 (Whitehead)

The COVID-19 pandemic has propelled us into a whole new global frontier. Those hoping to navigate this interconnected and highly technological world of contact tracing, vaccine passports and digital passes will find themselves grappling with issues that touch on deep-seated moral, political, religious and personal questions for which there may be no clear-cut answers. We are about to find our ability to access, engage and move about in the world dependent on which camp we fall into: those who have been vaccinated against COVID-19 and those who have not. “It is the latest status symbol. Flash it at the people, and you can get access to concerts, sports arenas or long-forbidden restaurant tables. Some day, it may even help you cross a border without having to quarantine,” writes Heather Murphy for the New York Times.


“The new platinum card of the Covid age is the vaccine certificate.” This is what M.I.T. professor Ramesh Raskar refers to as the new “currency for health,” an apt moniker given the potentially lucrative role that Big Business (Big Pharma and Big Tech, especially) will play in establishing this pay-to-play marketplace. The airline industry has been working on a Travel Pass. IBM is developing a Digital Health Pass. And the U.S. government has been all-too-happy to allow the corporate sector to take the lead. Spearheaded by the National Security Agency (NSA), which has shown itself to care little for constitutional limits or privacy, the surveillance state has come to dominate our government and our lives. Yet the government does not operate alone. It cannot. It requires an accomplice. Thus, the increasingly complex security needs of our massive federal government, especially in the areas of defense, surveillance and data management, have been met within the corporate sector, which has shown itself to be a powerful ally that both depends on and feeds the growth of governmental bureaucracy.

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I’m not much into CCP bashing, but also not into too many coincidences.

Scientists “Debunking” The Wuhan Lab Leak Theory Linked to CCP (NP)

Several researchers used by leading corporate media outlets to debunk claims that COVID-19 originated at the Wuhan Institute of Virology have previously attended events or accepted awards from the controversial lab, The National Pulse can reveal. The researchers’ Chinese Communist Party ties – which present a clear conflict of interest – are omitted from the media reports, which instead present the scientists as unbiased adjudicators of COVID-19’s origins. In March 2020, NBC Science Contributor Dr. Joseph Fair called for the Trump administration to “stop blaming China” for the outbreak of the virus, despite mounting evidence – even at the time – that China was hiding information and data, and silencing whistleblowers. Dr. Fair equated called the lab leak theory – now increasingly mainstream – as a “conspiracy.”

Fair spoke at the Wuhan Institute of Virology (WIV) in 2013, The National Pulse can reveal. “During the visit, he attended “Ge Hong Elite Forum” and gave an excellent academic report named “Biosafety Level 4 Containment Research and Recombinant Biology: How advances in molecular biology can advance in-vitro product design”. Many teachers and students, including Director Chen Xinwen and researchers such as Hu Zhihong and Wei Hongping, listened to the report,” a summary notes. “Dr. Joseph Fair is now engaged in the rapid diagnosis work of virulent viruses for GVFI and looks forward to cooperating with the Institute in the relevant research field in future,” the description adds. Fair’s Twitter account also contains posts describing WIV researchers as “collaborators,” “colleagues” and friends,” adding “I’ve very much enjoyed working with them over the years.”

Fair has praised the labs “openness with regards to sharing data” despite the institute erasing 16,000 virus samples in late 2019 and continuing to do so throughout the pandemic. Dr. Ian Lipkin, who’s seen his claims that there is “no evidence to suggest that [COVID-19] was created in a lab” amplified by outlets such as CBS and USA Today, also spoke at the WIV, in 2015. “He had given an excellent report on “Small game hunting”, which was presided by Professor Zhengli Shi, to the teachers and students in our institute,” a WIV summary revealed. The unearthed visit follows National Pulse reports highlighting Lipkin receiving awards from the Chinese Communist Party and describing himself as a “consultant” for the communist regime.

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“..the supernatural victory on Super Tuesday that rescued his pitiful old ass from the glue factory of broken-down political war-horses.”:

Don’t Look Now (Jim Kunstler)

This was only one of countless mysteries orbiting around the dimming star that is Joe Biden. The biggest one, the planet Jupiter of all puzzlements, is how the guy managed to get elected occupant of the oval office. Or, more to the point, how did others manage to get him elected? I mean, considering those few embarrassing campaign forays from the basement to a bunch of empty parking lots back in the fall of 2020, not to mention the supernatural victory on Super Tuesday that rescued his pitiful old ass from the glue factory of broken-down political war-horses. We may be about to find out as Arizona’s State Senate finally got around to approving a full audit of the November 3rd vote in Maricopa County, comprising Phoenix and its asteroid belt of suburbs, which amounts to more than two-thirds of the state’s population.

The Democratic Party tried pretty hard to stop the durned thing, sending its gnarliest Lawfare warrior, one Marc Elias from the Clinton-indentured DC firm of Perkins Coie, and a posse of 70 other attorneys, to bury the proceedings in court orders. But all they got was a weekend pause from an Arizona judge who imposed a $1-million-dollar bond payment on the Democrats to cover expenses for the interruption — which would then be forfeited if the audit went forward. The Dems declined to pay up, so the pause was lifted and the audit goes forward today. The usual suspects in the mainstream media attempted to bury the Arizona vote audit story or denigrate it — for instance the The New York Times, which characterized the inquiry in its Saturday lede as “false claims of a stolen election,” and then “a snipe hunt for skullduggery,” before asserting the boilerplate “baseless theories of election theft” to seal the deal with its avidly credulous readership.

Rachel Maddow of MSNBC practically jumped up and down going woo-woo-woo to discredit the audit. What do you suppose they’re afraid of? I’ll tell you: For one thing, if the vote turns out to have been compromised by fraud, Arizona is liable to lose a Democratic senator elected on Mr. Biden’s (possibly) phantom coattails — Mark Kelly (D) who defeated incumbent Martha McSally (R) — which would cancel the Democrats’ current one-vote majority grip on the body. The result of that would be the end of the party’s effort to jam various new laws down America’s craw: DC statehood, the HR-1 voter fraud act, the Supreme Court-packing bill, and, actually, anything else on the party’s Satanic wish-list for disassembling the republic.

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“.. it will almost feel like trade is coming to a halt.”

Supply Chains Implode As “Price Doesn’t Even Matter Anymore”

The number of container ships stuck at anchor off Los Angeles and Long Beach is down to around 20 per day, from 30 a few months ago. Does this mean the capacity crunch in the trans-Pacific market is finally easing? Absolutely not, warned Nerijus Poskus, vice president of global ocean at freight forwarder Flexport. “It’s not getting better. It’s getting worse,” he told American Shipper in an interview on Monday. “What I’m seeing is unprecedented. We are seeing a tsunami of freight,” he reported. “For the month of May, everything on the trans-Pacific is basically sold out. We had one client who needed something loaded in May that was extremely urgent and who was ready to pay $15,000 per container. I couldn’t get it loaded — and we are a growing company that ships a lot of TEUs [twenty-foot equivalent units]. Price doesn’t always even matter anymore.”

Poskus said that trans-Pacific import volumes are still rising. He noted that January trans-Pacific imports were up 10% versus 2019 (comparisons to 2020 numbers are skewed by COVID) and 13.5% in February, then jumped 51% in March. “So, we’re now at 1.5 times pre-pandemic levels.” With imports far outpacing retail sales growth, he attributed volumes to inventory restocking. “The restocking is actually affecting the trade even more than growth in demand. That tells me that this will last even longer. Let’s say U.S. consumer demand slows down in Q3 and Q4. That’s not expected, but even if it does, [capacity availability and rates] shouldn’t improve quickly, simply because of the huge restocking demand.”

Poskus also believes there is a growing export backlog piling up each day in Asia, awaiting available ship slots. If that backlog grows too big, he said, “I honestly don’t know what’s going to happen.” As a result of the backlog and restocking demand, he thinks “prices will remain high and shipping will probably remain difficult for the rest of this year. And then after that, you have the peak for Chinese New Year in 2022.” He said that the situation today is the worst he’s witnessed — and he believes it’s about to get even more severe. “Buckle up. The month of May will be the worst people have ever seen,” he predicted. Because some shippers will have to wait in line behind the growing backlog in Asia, he expects “what’s going to happen soon is that some importers won’t even be able to get on the boat. For them, it will almost feel like trade is coming to a halt.”

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“.. it really depends on just how much manipulation the authorities are willing to do.”

Gundlach Rejects The Fed’s “Inflation Is Transitory” Narrative (ZH)

Don’t believe your lying eyes, will be the message tomorrow from The Fed’s Jay Powell as he hypnotizes investors to believe that “inflation is transitory” and they have “the tools” to manage it. ‘Bond King’ Jeff Gundlach is not buying that line and told BNN Bloomberg in an interview this morning. “…more importantly, I’m not sure why they think they know it’s transitory… how do they know that?” “…there’s plenty of money-printing that’s been going on, and we’ve seen commodity prices going up massively… home prices in the US are inflating very substantially… so there’s a lot of inflation that’s already baked in to input prices.” Gundlach does admit that Powell has a point in the very near term as the prints were about to see “which could be as high as 4% [for CPI]” are off of year-ago, very depressed levels.

“…what he means by transitory is that the base effect will lead to problems in the next few months but then the base effect will become less problematic.” But, Gundlach adds, “it’s not clear to me that inflation is going to go back down to around 2 to 2.5%… we don’t know, nobody knows… but we’re most concerned with the fact that The Fed thinks they know.” This is worrisome because The Fed’s track record is anything but inspiring… “when I go back to the global financial crisis, when we almost had a complete meltdown of the financial system, Ben Bernanke completely missed all of the problems that led to the crisis.” Bernanke’s infamous “contained to subprime… and subprime is only a sliver of the market” comments could be about to be trumped by Powell’s “inflation is transitory” comments as Gundlach warns “there’s plenty of indicators that suggest inflation is going to go higher and not just on a transitory basis.”

The Fed is “trying to paint the picture” of control, but Gundlach tries to make clear: “they’re guessing.” So, what does that mean for markets? While some fear “we ain’t seen nothing yet” in terms of yields rising (and multiple contraction), Gundlach notes that “it really depends on just how much manipulation the authorities are willing to do.” The billionaire fund manager notes that yields are “still very low… well below the current inflation rate… so we have negative yields everywhere on the yield curve.” It’s also “hard to figure out who’s going to buy the bonds,” he notes, “as we are about to see issuance like we have never seen before.” Foreigners have been selling bonds for years and domestically there is little demand, so Gundlach notes the only one left to soak up all this extra supply is The Federal Reserve, which has already expanded its balance sheet massively in the last 12 months.

“Who’s going to buy all these many trillions of dollars of bonds? Foreigners have been selling for years and they’ve accelerated their selling in the last several quarters, domestic buyers are not exactly selling, but they’re not adding to their holdings. So what’s left to absorb all of the spawn supply is the Federal Reserve.“ “Left to true, free markets, bond yields at the long-end would obviously be higher than they are now.”

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“Each month, Bertrand produced dozens of Russiagate articles for the site that were so unhinged that they made Rachel Maddow look sober, cautious and reliable.”

CNN’s New “Reporter,” Natasha Bertrand, is a Deranged Conspiracy Theorist (Greenwald)

The most important axiom for understanding how the U.S. corporate media functions is that there is never accountability for those who serve as propagandists for the U.S. security state. The opposite is true: the more aggressively and recklessly you spread CIA narratives or pro-war manipulation, the more rewarded you will be in that world. [..] On Monday, CNN made clear that this dynamic still drives the corporate media world. The network proudly announced that it had hired Natasha Bertrand away from Politico. In doing so, they added to their stable of former CIA operatives, NSA spies, Pentagon Generals and FBI agents a reporter who has done as much as anyone, if not more so, to advance the scripts of those agencies.

Bertrand’s career began taking off when, while at Business Insider, she abandoned her obsession with Russia’s role in Syria in 2016 in order to monomaniacally fixate on every last conspiracy theory and gossip item that drove the Russiagate fraud during the 2016 campaign and then into the Trump presidency. Each month, Bertrand produced dozens of Russiagate articles for the site that were so unhinged that they made Rachel Maddow look sober, cautious and reliable. In 2018, it was Jeffrey Goldberg himself — knowing a star CIA propagandist when he sees one — who gave Bertrand her first big break by hiring her away from Business Insider to cover Russiagate for The Atlantic. Shortly thereafter, she joined the Queen of Russiagate conspiracies herself by becoming a national security analyst for MSNBC and NBC News.

From there, it was onto Politico and now CNN: the ideal, rapid career climb that is the dream of every liberal security state servant calling themselves a journalist. Her final conspiratorial article for The Atlantic before moving to Politico is the perfect illustration of who and what she is. CNN’s new national security star was no ordinary Russiagate fanatic. There was no conspiracy theory too unhinged or evidence-free for her to promote. As The Washington Post’s media reporter Erik Wemple documented once the Steele Dossier was debunked, there was arguably nobody in media other than Rachel Maddow who promoted and ratified that hoax as aggressively, uncritically and persistently as Bertrand. She defended it even after the Mueller Report corroborated virtually none of its key claims.

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Smear sells.

The Deep State Targets Matt Gaetz (AG)

It’s now been over three weeks since a torrent of sensational headlines about U.S. Representative Matt Gaetz (R-Fla.) blared from corporate media newsrooms. It sounded about as bad as it could get for the representative from Florida’s 1st Congressional District; breathless claims that he was “under investigation for underage sex trafficking” touched off a media frenzy. No stranger to controversy, Gaetz’s initial instinct was to confront the allegations live on Fox News with Tucker Carlson. While many saw it as a bizarre interview, it may at least have been the right move in terms of staring down a bloodthirsty establishment. As several weeks have passed, though, the controversy seems to have generated more heat than light. Indeed, this might be the longest running “sex scandal” in the nation’s history without an accuser.

But the media has been busy. Since the original story broke, there’s been a drip of follow-on stories at outlets like the Daily Beast, Politico, the Washington Post, and CNN—all using a shady collection of off-the-record and dubious government sources. Unsurprisingly, given that sourcing, none of the stories have contained anything close to serious detail or evidence. Reporters keep dropping tidbits of evidence likely to be emanating from within the Justice Department, yet none of which confirms any of the headline-grabbing allegations. Few of these articles even attempt to deal with the wild allegations first made about the congressman. Writing in Politico on Tuesday, Betsy Woodruff Swan stated: “[Gaetz] has not been charged with a crime, and no women have publicly accused him of sexual misconduct in the three weeks since the New York Times first reported on the investigation. He has denied any wrongdoing.”

Note how—after making a sensational media splash for maximum public relations damage—the accusations against Gaetz have shifted, from shocking and unsupported claims of underage sex trafficking and pedophilia to the less scurrilous (and still unsupported) accusation that Gaetz had sex at parties. Crucially, there has not been any evidence of payments, prostitution, or underage girls. As Scott Adams recently said, while some may first cringe at hearing too much about the sex life of a politician, deep down, they’re more likely to be indifferent. CNN even had to note in a recent report: “One of the women who spoke to CNN said she did so in part because the picture of Gaetz as potentially connected to sex trafficking that has emerged in recent days does not align with what she saw. Both women said that they never saw anyone at the parties who appeared to be underage.”

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Seems hard to argue against, but sure enough many are trying.

Apple iOS 14.5 Update Includes ‘App Tracking Transparency’ Feature (G.)

Users of iPhones can now prevent advertisers tracking them across their apps, after the release of the latest software update from Apple introduced the controversial feature despite the protests of Facebook and the advertising industry. The update, iOS 14.5, includes a setting called “app tracking transparency”, which for the first time requires applications to ask for users’ consent before they are able to track their activity across other apps and websites. If users decline, then applications will not be able to access the unique user ID that they need to follow individuals as they live their digital lives. The prompt, which will say “Allow [app game] to track your activity across other companies’ apps and websites?” will show up for apps that request access to the ID number.

They may be able to use other methods, known as “fingerprinting”, to achieve the same goal, but Apple says that doing so could cause them to be expelled from the App Store. First announced last summer, app tracking transparency led to immediate pushback from the wider advertising industry. Initially slated for release in the autumn, Apple delayed its implementation for six months in order to give the industry time to prepare. But the delay wasn’t enough for some, and in December, Facebook launched an all-out assault on Apple, with the company’s head of ads and business products, Dan Levy, claiming that the setting was actually “about control of the entire internet”. “This is about a long-term view that is anti-personalised advertising and we think is trying to take the world back 10 or 20 years,” he added.

Facebook launched a glossy advertising campaign arguing that the real victim of the changes are “your neighbourhood coffee brewery, your friend who owns their own retail business, your cousin who started an event planning service and the game developers who build the apps you use for free”. Those small businesses, the company said, would lose out if they were no longer able to target customers with personalised adverts. The social network is not alone in its opposition: a group of Germany’s biggest media, tech and advertising companies, led by digital publishing house Axel Springer, have filed a complaint with the German competition regulator arguing that the new rules could lead to a 60% fall in advertising revenues for app developers.

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Looking at ad reveue here, I can assure you they’re keeping it all for themselves.

Google Ad Surge Drives Up Profits For Parent Firm Alphabet (Y!)

Google parent Alphabet on Tuesday reported that quarterly profit more than doubled as digital advertising surged with more people relying on the internet during the coronavirus pandemic. Profit in the first quarter leapt to $17.9 billion from $6.8 billion in the same period a year ago while revenues jumped 34 percent to $55.3 billion, led by gains in advertising and cloud computing services. “Over the last year, people have turned to Google Search and many online services to stay informed, connected and entertained,” said Alphabet and Google chief executive Sundar Pichai. The surge in Alphabet’s earnings comes as the tech giant faces increased scrutiny from regulators regarding its power.

“Google essentially manufactures money; they are almost entirely ads,” said analyst Rob Enderle of Enderle Group. “There is not a risk of downturn in revenue, it is that regulatory action strips the revenue from them.” Facebook and Google are the “short list” when it comes to scrutiny by regulators in Europe and the United States because of “their broad impact on the political process and almost complete dominance of ad revenues,” the analyst maintained. Google is among internet giants in the crosshairs of regulators and critics concerned about whether it unfairly wields its power to dominate markets and fend off competition.

[..] Alphabet shares were up nearly five percent in after-market trades that followed release of the earnings figures. “Google had an absolute monster quarter with ads leading the way,” said analyst Patrick Moorhead of Moor Insights and Strategy. “YouTube grew an eye-watering 49 percent year-over-year, which I attribute to increased YouTube viewing and increased YouTube TV subscribers.”

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I must admit I didn’t see this coming. Hunter, that is. That fake news producers would teach on fake news is all too predictable.

Hunter Biden To Guest Teach A Class On “Fake News” This Fall (DM)

Hunter Biden is helping teach a class on fake news at Tulane University in New Orleans, Louisiana this fall. The course titled ‘Media Polarization and Public Policy Impacts’ will include several guest speakers throughout its 10 weeks, including the president’s son. The course description, according to a copy of the syllabus obtained by DailyMail.com, says: ‘America’s rapidly advancing partisan divide is fueled substantially by the growing political polarization increasingly evident in our news media.’ ‘This course will explore the current state of the media landscape in the United States and how media polarization, fake news, and the economics of the news business impact public policymaking in Washington, D.C,’ it continues. Hunter, 51, is a Yale-educated lawyer and has never, in any capacities, worked as a journalist, reporter or in the media world.


‘Hunter Biden has no background in media,’ conservative filmmaker Phelim McAleer said. ‘He has never worked for a newspaper or a media outlet.’ ‘Hunter Biden lecturing a class on fake news is like Harvey Weinstein teaching a course to prevent sexual harassment. It shouldn’t be happening. Period.’ the ‘My Son Hunter’ producer continued. Tulane University confirmed the course in a statement to DailyMail.com and confirmed the list of speaker, including:
Hunter Biden
Dr. Deborah Birx, White House Coronavirus Response Coordinator under President Donald Trump
Juan Williams, political analyst for Fox News Channel
Susan Glasser, columnist for The New Yorker
Margaret Sullivan, Washington Post columnist; Kylie Atwood, national security correspondent for CNN
Margaret Brennan, Face the Nation moderator
Bret Stephens, New York Times columnist
Dr. Michael Fauntroy, a professor in the Political Science Department at Howard University.

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Sep 152019
 
 September 15, 2019  Posted by at 2:17 pm Finance Tagged with: , , , , , , , , , , ,  5 Responses »


Pavel Filonov The Kolkhoznik (Member of a Collective Farm) 1931

 

Those winds just keep on shifting, no matter that the western press either doesn’t see them shift, doesn’t recognize them for what they are, or chooses to ignore them. But these winds bring tidings of a tectonic plate-shaking shift in the global political climate.

The fires in Saudi oil installations, whether they were caused by drones or missiles, and whoever fired those, are a major story, and rightly so, because they could shake up economies in drastic ways. But they may still, not be the biggest story after all.

Last Tuesday, Israeli Prime Minister Benjamin Netanyahu announced his intention to annex the Jordan Valley (already occupied territory, 65,000 Palestinians and 11,000 Israeli settlers live there). He did that to steal votes from the far right in next Tuesday’s (Sep. 17) Knesset election. “Bibi” also called Donald Trump his “friend” every second word for that same purpose. Trump responded in kind. He may come to regret that. Choose your friends wisely. Bit of background from RT:

 

US, Israel Talk About Mutual Defense Treaty – Trump

The US and Israel are discussing a mutual defense treaty that would further cement the already “tremendous” alliance between the two countries, President Donald Trump has revealed. “I had a call today with Prime Minister Netanyahu to discuss the possibility of moving forward with a Mutual Defense Treaty, between the United States and Israel, that would further anchor the tremendous alliance between our two countries,” Trump tweeted.

Trump voiced not-that-veiled support for Benjamin Netanyahu ahead of the upcoming parliamentary elections in Israel. “I look forward to continuing those discussions after the Israeli Elections when we meet at the United Nations later this month!” Trump wrote. The support surely comes in handy, as Netanyahu’s backing appears to be quite shaky. The September 17 polls are the second snap legislative elections this year after Netanyahu failed to form the government back in April.

The outcome of the upcoming vote is hard to predict, as Netanyahu’s party, Likud, has almost equal support as their main opponent the Blue and White led by Benny Gantz, opinion polls show. Netanyahu was quick to respond to Trump’s announcement, lauding the prospects of the alliance and managing to call the US president a “friend” twice in a single tweet.

[..] Israel was one of the first major non-Nato ally (MNNA), a designation that goes with a whole set of benefits, such as generous loans, a priority in delivery of various military surplus, possession of war reserve stocks of Pentagon-owned hardware outside US military bases (Israel is said to have at least six sites) and others.

Yet in 2014 the US enshrined Israel into a new class of ally – a major strategic partner. The new designation, which is a step above MNNA, was basically established specifically for Israel. It greatly expanded the US wartime stockpiles in Israel from $200 million in value to a whopping $1.8 billion. Under the Trump administration, the trend has continued, and in 2017, the US established its first permanent military base – an air defense facility – in Israel.

A second thing Bibi is trying to do to win Tuesday’s elections is intimidating the prosecutors who are on his tail for three different cases or fraud. He has a grand plan to become immune from this prosecution (basically, become King Bibi), but he must win the election to execute it. Haaretz is Israel’s oldest newspaper, but it’s not Bibi’s biggest fan(club):

 

Netanyahu’s Plan to Escape Trial, in His Own Words: ‘Time for Them to Be Frightened’

Immediately after the last election, Prime Minister Benjamin Netanyahu outlined to members of his inner circle a plan to extract him from facing trial. The plan was based on obtaining immunity from the Knesset and passing legislation to prevent the High Court of Justice from removing that immunity. If his bloc wins 61 Knesset seats next week, Netanyahu will presumably resort to this rescue plan. For him it will be the Day of Judgment.

“Stop being frightened. It’s time for them to be frightened,” Netanyahu told his confidants, referring to justice officials, headed by Attorney General Avichai Mendelblit and State Prosecutor Shai Nitzan, who have decided to indict him in three cases, subject to a hearing. Netanyahu told his confidants why he insisted on his destructive plan, telling them he had lost all confidence in the legal system on all levels – the attorney general’s office, the state prosecutor and the court system.

“They want me in prison,” he told one of his cronies, noting that if he were indicted that would indeed be the result – not because he had crossed a red line, but merely due to the jurists’ collective hostility toward him and his ideology. Netanyahu appears to wholeheartedly believe himself to be a victim, framed by prosecutors and that Mendelblit, who is weak, doesn’t believe in them at all, but couldn’t withstand the pressure.

In his interviews with the police Netanyahu acted like a hunted man. “It’s a wacky conception,” he told national fraud squad chief Koresh Bar-Nur in January 2017. Bar-Nur came to Netanyahu’s residence with a team of investigators to question him under caution on Case 2000, involving a bribery deal Netanyahu allegedly negotiated with Yedioth Ahronoth publisher Arnon “Noni” Mozes.

 

And that wasn’t all. To court the right wing vote, Bibi also planned to bomb locations in Syria controlled by “Iran-backed” Assad troops, right about right now. And he needed permission from Vladimir Putin to do that. So he flew to Moscow, did a bunch of photo-ops with Putin to show Israeli voters he’s an important statesman, but all he got was a big load of coal in his stocking. Putin said: we’l shoot you out of the skies if you dare. And do note: this is not the first time.

In other words, Bibi was deeply humiliated one week before the election he so deperately needs to him to stay out of jail. Now tell me, which western paper or TV channel did you read or watch the news about this in/on? Remember, this happened before Trump announced his Mutual Defense Treaty with Bibi. By the way, what does that “Mutual” mean anyway, that Israel will save America? This is from Zero Hedge:

 

Israeli Attacks On Syria Halted After Russian Threat To Shoot Down Jets

According to reports in both Israeli and Arabic regional media, Israel this past week was preparing to expand major airstrikes against “Iran-backed” targets in Syria, but Moscow imposed its red line. The Independent has published a story describing that Russia’s military in Syria threatened to shoot down any invading Israeli warplanes using fighter jets or their S-400 system.

The Jerusalem Post, citing sources in the UK Independent (Arabia), writes just after the latest meeting in Sochi between Prime Minister Benjamin Netanyahu and Russian President Vladimir Putin: “According to the report, Moscow has prevented three Israeli airstrikes on three Syrian outposts recently, and even threatened that any jets attempting such a thing would be shot down, either by Russian jets or by the S400 Anti-aircraft missiles.

The source cited in the report claims a similar situation has happened twice, and that during August, Moscow stopped an airstrike on a Syrian outpost in Qasioun, where a S300 missile battery is placed.” Netanyahu’s hasty trip to meet with Putin on Thursday – even in the final days before Tuesday’s key election – was reportedly with a goal to press the Russian president on essentially ignoring Israel’s attacks in Syria.

Citing further sources in the British-Arabic Independent Arabia, The Jerusalem Post continues: According to the Russian source, Putin let Netanyahu know that his country will not allow any damage to be done to the Syrian regime’s army, or any of the weapons being given to it… Israel sources cited by the Arabic newspaper described Netanyahu’s attempts to persuade Putin as “a failure”. This in spite of Netanyahu telling reporters after the meeting that his relations with Moscow were stronger than ever.

[..] The Russian source said: “Putin has expressed his dissatisfaction from Israel’s latest actions in Lebanon” and even emphasized to Netanyahu that he “Rejects the aggression towards Lebanon’s sovereignty”, something which has never been heard from him.

Putin further stated that someone is cheating him in regards to Syria and Lebanon and that he will not let it go without a response. According to him, Netanyahu was warned not to strike such targets in the future.

 

 

This is where and how the winds -and with them the tectonic plates- have shifted. And don’t underestimate it. Bibi can presumably count on Trump more than any other US President in his time, and the US is supposedly this almighty force, also in the Middle East, but today Putin just tells him “don’t you dare!” Putin refuses to let him touch Assad’s territory and -Russian- weapons.

The clincher is those weapons have become so sophisticated that Bibi, Trump support or not, puts his tail between his legs and flies back, hoping nobody notices what shape he’s in. And in that humiliation, Lebanon is the cherry that Putin puts on top of the pie. “Now that you’re here, I want you to stop harassing Lebanon too. Yes, now you may go.” Lebanon must have stunned Bibi.

What these shifting winds tell us is that the shots in that part of the world, Syria, Lebanon, Israel, (I wouldn’t go as far as including Iran and Saudi Arabia just yet) are no longer called by Bibi or the US. The main reason, as we’ve mentioned often before, is that Russian weapons have become so powerful.

Because as also previously discussed, Russian arms may well be -far- superior to American ones, which in turn in due to the US arms industry developing weapons for profit, vs Russia producing them to defend itself. Putin outright humiliating Bibi Netanyahu may be the first real obvious consequence of that.

This is something that will play out over a long time, but it may change the global political climate dramatically very rapidly. Mike Pompeo can try to blame Iran for whatever it is that happened to Saudi oil facilities, but for the US to attack Iran, which may be the reason for that blame game, it would need to ask Putin for permission, just like Netanyahu did.

And why would Putin give that permission? That’s a real good question. Mind you, Netanyahu may on Tuesday get the Knesset seats he needs to stifle the investigations against him, and to annex the Jordan Valley, but he will still have to ask permission if he has big dreams. And neither Trump nor Jared Kushner nor anyone else can help him there.

The US neocons have been talking about a New World Order for decades. Well, now they got one.

 

 

 

 

Aug 232018
 
 August 23, 2018  Posted by at 9:28 am Finance Tagged with: , , , , , , , , , ,  6 Responses »


Pablo Picasso Seated woman 1903

 

 

 

The Weaponization of the Dollar (Lebowitz)
Turkey’s Lira Crisis Was Written In Istanbul’s Skyline (G.)
U.S.-China Trade War Escalates As New Tariffs Kick In (R.)
Shooting War With China More Likely Than You Think (Rickards)
Wall Street Marks Longest-Ever ‘Bull Market’ (AFP)
Saudi Energy Minister Denies Aramco IPO Will Be Called Off (R.)
Australia In Crisis As Prime Minister Faces Down Political Coup Attempt (G.)
Trump Says He’s Considering Pardon For Manafort (R.)
Making Plans For A New World Order (Heiko Maas)
Italian Prosecutors Investigate Salvini’s Bar On Ship Arrivals (G.)

 

 

“..the true all-in cost of borrowing was not 5% but 54%.”

The Weaponization of the Dollar (Lebowitz)

China, Turkey, and Iran are all classified as emerging markets. While the classification is broad and includes a diverse group of countries, these countries have many things in common. One is that their currencies, for the most part, are not liquid or highly valued. Thus, they heavily rely on the world’s reserve currency, the U.S. dollar, to conduct international trade. As an example, when Pakistan buys oil from Qatar, they transact in U.S. dollars, not rupees or riyals. To facilitate trade efficiently, these countries must hold excess dollars in reserve. In almost all cases, emerging market nations rely on U.S. dollar-denominated debt for their transactional needs.

Dollar-denominated debt is currently the cause of much economic pain for Turkey. To understand why, we present a simplified example. Suppose on January 1, 2018, a Turkish corporation borrowed $100 million U.S. dollars with an agreement to pay it back with interest of 5% on August 15th, 2018. The company, as is typical, converts the loaned dollars to Turkish Lira. On August 15, 2018, the company will convert the Lira back to dollars in order to pay the principal and interest due on the loan. The following graph charts the Turkish Lira versus the Dollar over the life of the loan.

On January 1, 2018, one U.S. Dollar was worth 3.79 Lira. Over the next eight months, the U.S dollar appreciated significantly versus the Lira such that one U.S. dollar was worth approximately 5.81 Lira. As such, the company will now need 5.81 Lira to purchase each dollar it needs to repay the loan. Due to the strengthening of the U.S. dollar versus the Lira over the time period of the outstanding loan, the company would need 584,282,000 Lira to pay back what was originally a 378,750,000 Lira loan. In other words, the true all-in cost of borrowing was not 5% but 54%.

Read more …

“90% of the credit in Turkish real estate companies came from loans in foreign currencies.”

Turkey’s Lira Crisis Was Written In Istanbul’s Skyline (G.)

From a distance, Esenyurt, a newly built up neighbourhood on the edges of Istanbul, looks a bit like Hong Kong or Dubai, with a bustling downtown of shiny skyscrapers. Upon closer examination, however, you notice that tower after tower stands incomplete, lacking windows or furnishings; others are only half-occupied, their windows dark after nightfall. “In the residential areas, 100% of the construction has stopped,” says Mohamed Karman, a local estate agent, from his small office in the central square of Esenyurt. “Do you know why? The materials. Everything is in dollars, you pay in dollars.” The crash of the Turkish lira last week after two years of steady decline spooked global markets – but anyone looking at Istanbul’s skyline would have been far from surprised.

Everywhere you look in the city, evidence of a debt-fuelled construction boom abounds: new skyscrapers frame the horizon, huge shopping malls dot the streets and among several megaprojects is a new airport, set to be the world’s largest. Funding for this construction frenzy has been at the heart of Turkey’s economy, accounting for up to 20% of the country’s GDP growth in recent years, and employing around two million people. In a parallel to the 2008 financial crash, the boom was funded by low-interest loans and ballooning debt. Property developers funded their buildings with cheap loans in foreign currencies – and will be struck particularly hard by the lira’s collapse, as those loans grow harder to repay every day. According to government statistics, at the end of 2016 nearly 90% of the credit in Turkish real estate companies came from loans in foreign currencies.

[..] The Istanbul Sapphire – one of the tallest buildings in Europe when completed in 2011 – was financed through loans worth 164m lira in 2013, 154m of which was in US dollars. That loan would now cost around 539m lira.

Read more …

Is this the best they can do?

U.S.-China Trade War Escalates As New Tariffs Kick In (R.)

The United States and China escalated their acrimonious trade war on Thursday, implementing punitive 25 percent tariffs on $16 billion worth of each other’s goods, even as mid-level officials from both sides resumed talks in Washington. The world’s two largest economies have now slapped tit-for-tat tariffs on a combined $100 billion of products since early July, with more in the pipeline, adding to risks to global economic growth. China’s Commerce Ministry said Washington was “remaining obstinate” by implementing the latest tariffs, which kicked-in on both sides as scheduled at 12:01 p.m. in Beijing (0401 GMT). “China resolutely opposes this, and will continue to take necessary countermeasures,” it said in a brief statement.

“At the same time, to safeguard free trade and multilateral systems, and defend its own lawful interests, China will file suit regarding these tariff measures under the WTO dispute resolution mechanism,” it said. President Donald Trump has threatened to put duties on almost all of the more than $500 billion of Chinese goods exported to the United States annually unless Beijing agrees to sweeping changes to its intellectual property practices, industrial subsidy programs and tariff structures, and buys more U.S. goods. That figure would be far more than China imports from the United States, raising concerns that Beijing could consider other forms of retaliation, such as making life more difficult for American firms in China or allowing its yuan currency to weaken further to support its exporters.

Read more …

“The U.S. will win this trade war because Xi does not want to lose his throne.”

Shooting War With China More Likely Than You Think (Rickards)

The mainstream media narrative about the U.S.-China trade war implies that Trump is on a highly damaging ego trip and China holds all the cards. The exact opposite is true. Trump has ample financial warfare weapons including tariffs, penalties, bans on direct investment, improved cybersecurity, forced divestiture and freezing of assets. Meanwhile, China has almost run out of room to impose tariffs. Further, they will invite retribution if they try to devalue their currency further. China’s vulnerabilities run deeper than that. The U.S.-China trade war comes in the aftermath of a Chinese Communist Party conference that made Xi Jinping dictator for life and enshrined his doctrines on the same level as Mao Zedong.

Once Xi got these powers, he proceeded on a disastrous policy course that has resulted in a slowdown of the Chinese economy, higher debt defaults, lost investment opportunities in the U.S. and declining hard currency reserves. The knives are now out in Beijing. Reports are circulating that Xi’s opponents are questioning his judgment and the wisdom of expanding his powers at such a critical time. Many are starting to blame Xi for the trade war almost as much as they blame Trump. Xi still has torture, firing squads and concentration camps at his disposal, but the notion of a unified, coherent leadership structure in Beijing is now seen to be a myth. Trump will keep up the pressure; he never backs off and always doubles down.

It will be up to Xi to blink and acquiesce in many U.S. demands. The U.S. will win this trade war because Xi does not want to lose his throne. Yet there will still be material damage to the global economy and lasting animosity between Xi and Trump.

Read more …

Party.

Wall Street Marks Longest-Ever ‘Bull Market’ (AFP)

Wall Street graduated to the longest-ever “bull market” Wednesday, a run that began amid extraordinary crisis-era monetary policy and which experts think could persist at least a while longer. US President Donald Trump cheered the news after the S&P 500 closed for the 3,453rd straight time without a drop of 20 percent over the more than nine-year stretch. “Longest bull run in the history of the stock market. congratulations America!” Trump said on Twitter shortly after the closing bell. The marathon run comes amid signs the US economy has accelerated this year after a long period of slow but steady growth. Experts say trade wars and higher interest rates are among potential threats to the persistence of the bull run.

Market watchers liken the landmark to other stock market records, such as when the Dow hit 25,000 points for the first time. Investing in stocks remains concentrated among the wealthiest, with many Americans still hesitant to buy stocks following the 2008 financial crisis. While financial experts are well aware of the durability of the current stock market cycle, the record is “news more to Main Street than to Wall Street,” according to Art Hogan, chief market strategist at B. Riley FBR. The S&P 500 finished the day down less than 0.1 percent at 2,861.82. When stocks fall at least 20 percent below their previous record, they enter a “bear market.”

Read more …

But several people insist it is. it’s just that it can’t be announced right now.

Saudi Energy Minister Denies Aramco IPO Will Be Called Off (R.)

Saudi Arabia’s energy minister denied a Reuters report that state oil giant Aramco’s initial public offering will be called off, in a statement issued early on Thursday. “The government remains committed to the initial public offering of Saudi Aramco, in accordance with the appropriate circumstances and appropriate time chosen by the Government,” Energy Minister Khalid al-Falih said in a statement released on Saudi Press Agency. Reuters reported on Wednesday that four senior industry sources said Saudi Arabia has called off both the domestic and international stock listing of Aramco.

Read more …

Oz politics is so bad it’s not even funny.

Australia In Crisis As Prime Minister Faces Down Political Coup Attempt (G.)

Australia is on the brink of having its sixth prime minister in a decade after a chaotic, internecine coup attempted, but failed, to topple the incumbent Malcolm Turnbull on Thursday. In a media conference during which he refused to resign, Turnbull called on his challengers to prove he had lost the confidence of his own party, and made a thinly veiled swipe at influences “outside the parliament”. The reference was widely interpreted as an attack on the power of Rupert Murdoch’s News Corporation newspapers and TV channels, which have consistently campaigned against him. “The reality is that a minority in the party room supported by others outside the parliament have sought to bully, intimidate others into making this change of leadership that they’re seeking,” Turnbull said.

The leadership brawl stalled political business on Thursday morning when the government voted to shut down the House of Representatives until 10 September, unsure it would be able to command a majority on the floor of the House, and unwilling to face questions from the opposition after at least 13 ministers tendered their resignations. Since 2007, no Australian prime minister has served a full term in office, with four cut down by their own parties while in office, earning Canberra the title of “coup capital of the Pacific”. Turnbull survived Thursday, but appears almost certain to lose the prime ministership to a party room vote, likely as soon as Friday.

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But not today, for sure.

Trump Says He’s Considering Pardon For Manafort (R.)

U.S. President Donald Trump said he would consider pardoning his former campaign chairman Paul Manafort, who was convicted on Tuesday of bank and tax fraud, according to a Fox News reporter who interviewed Trump. Fox News reporter Ainsley Earhardt said Trump told her in an interview on Wednesday that “he would consider” pardoning Manafort.“I think he feels bad for Manafort. They were friends,” Earhardt said in an appearance on Fox News’ “Hannity” program on Wednesday night.

Fox News has been airing excerpts of the interview with Trump, which is scheduled to be shown in its entirety on Thursday morning. The excerpts have not included a clip of Trump saying he would consider pardoning Manafort. Manafort was convicted on Tuesday of two counts of bank fraud, five counts of tax fraud and one charge of failing to disclose foreign bank accounts. In a tweet on Wednesday about the verdict, Trump called Manafort a “brave man” and said, “I feel very badly for Paul Manafort and his wonderful family.”

Read more …

Maas is the new German foreign minister. His proposal for an alternative SWIFT system launched a debate. But really, “new world order”?

Making Plans For A New World Order (Heiko Maas)

It starts with us exposing fake news. Like this: If the current account balance of Europe and the US includes more than just trade in goods, then it is not the US that has a deficit, it’s Europe. One reason is the billions in profits that European subsidiaries of Internet giants such as Apple, Facebook and Google transfer to the US every year. So when we talk about fair rules, we must also talk about the fair taxation of profits like that. It is also important to correct fake news because it can quickly result in the wrong policies. As Europeans, we have made it clear to the Americans that we consider the withdrawal from the nuclear agreement with Iran to be a mistake. Meanwhile, the first US sanctions have come back into force.

In this situation, it is of strategic importance that we make it clear to Washington that we want to work together. But also: That we will not allow you to go over our heads, and at our expense. That is why it was right to protect European companies legally from sanctions. It is therefore essential that we strengthen European autonomy by establishing payment channels independent of the US, a European monetary fund and an independent SWIFT [payments] system. The devil is in thousands of details. But every day that the Iran agreement lasts, is better than the potentially explosive crisis that threatens the Middle East otherwise.

Read more …

Let the courts decide.

Italian Prosecutors Investigate Salvini’s Bar On Ship Arrivals (G.)

Italian prosecutors have opened an investigation into the illegal detention of 177 migrants onboard a coastguard vessel that the minister of the interior, Matteo Salvini, refuses to allow to land. The Ubaldo Diciotti has been docked for 48 hours at the port of Catania, Sicily, but the migrants have not been allowed to disembark without having certainties from Brussels on their distribution to other countries. The investigation, conducted by the prosecutor of the city of Agrigento, was launched against “unknowns” but it is clear that if the magistrates were to go ahead with a judicial proceeding, Salvini would end up under investigation, being the only one responsible for the landing ban.

“I heard that the prosecutor’s office in Agrigento has opened an investigation,” said Salvini in a recent video on Facebook Live. “I also heard that the suspects are ‘unknown’ at the moment. But I’m not unknown. My name is Matteo Salvini, I’m the minister of the interior. Come on, try me too, I’m here.” The Ubaldo Diciotti docked on Monday night in the port of Catania but the migrants, including 29 unaccompanied minors, were refused authorisation to disembark. The ship picked up 190 people on 15 August from an overcrowded boat about 17 nautical miles from the Italian island of Lampedusa. Thirteen of them were evacuated for emergency medical treatment.

Read more …