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Debt Rattle July 10 2023

Jul 102023
 
 July 10, 2023  Posted by at 9:06 am Finance Tagged with: , , , , , , , , , , ,  58 Responses »


John Atkinson Grimshaw Liverpool from Wapping 1875

 

• Hunter Biden’s Decadent Lifestyle Is A Metaphor For US Society (Robert Bridge)
• Unlikely Trump-RFK Ticket Remains a Hot Topic (ET)
• How To Avoid The Worst Battlefield Defeat The US Has Suffered (Helmer)
• Ukrainian Counteroffensive Headed for ‘Disaster’ – Ex-US Marine (Sp.)
• Ukraine Reportedly Pulls Leopard 2s From Front, Low on Armor, Ammo (Sp.)
• Ukraine Pessimistic About Outcome Of NATO Summit In Vilnius (TASS)
• NATO Powers Race To Finish Security Pledges For Ukraine (RT)
• Paul Keating: NATO Chief A ‘Supreme Fool’, ‘Accident On Its Way To Happen’ (G.)
• White House Admits To Committing War Crimes In Ukraine – Russian Embassy (TASS)
• US Can End Ukraine Conflict In 5 Minutes By Ceding Territory – Zelensky (TASS)
• The Era of Nukes and No Diplomacy: ‘Crossing a Rubicon to Armageddon’ (SP)
• Biden Believes China Wants to ‘Replace US as Leading Power’ (Sp.)
• Peru Declares Health Emergency Due To Spike In Guillain-Barre Cases (Az.)
• Journalists Abandoned Julian Assange and Slit Their Own Throats (Chris Hedges)

 

 

 

 

Mel Gibson

 

 

Ballard 2014, 2023

 

 

 

 

RFK full

 

 

 

 

Dollar and oil

 

 

RFK seizures

 

 

Luft

 

 

Levin
https://twitter.com/i/status/1678251441012502528

 

 

 

 

 

 

“..isn’t Hunter simply keeping up with the trends? If anything, all this makes the Bidens more relatable for their ultra-liberal fan base.”

• Hunter Biden’s Decadent Lifestyle Is A Metaphor For US Society (Robert Bridge)

On July 2, just as the nation was preparing to celebrate Independence Day, the Biden White House got far more fireworks than they had bargained for as news spread rapidly that a bag of cocaine had been discovered inside the White House. Two days later, Hunter Biden, currently America’s most infamous drug abuser, appeared on the White House balcony, looking sweaty and nervous, instantly reminding many viewers of the Hunter Biden we know from the folksy home-made videos and photos found on his “laptop from hell” – a story that the consolidated efforts of social media censorship and mainstream media memory-holing had failed to suppress. Hunter has been caught on camera (or even made the pictures himself) doing all kinds of seedy things, from apparently breaking the ground-speed record while smoking from a crack pipe to having sex with prostitutes. So naturally, it should come as no surprise that many people, primarily of the Fox News variety, took the cocaine evacuation scare to mean that Hunter was wreaking havoc once again, this time right at the heart of the nation.

Say what you will about former President Donald Trump – and much has been said – it is hard to imagine his own privileged children caught behaving in such an unhinged way, either in public or in private. And while America’s most controversial leader of all time may have had sticky fingers when it comes to classified and unclassified documents, at least we can say he was trying to keep abreast of international and domestic issues, while the entire establishment and deep state was working 24/7 to destroy him, as they are stilling doing now. Hunter Biden’s drug problems are well documented, including by the man himself. He talks about it in his memoir (which some sycophantic reviewers describe as a “story of redemption”) and in one of the most cringe interviews of all time.

“I spent more time on my hands and knees picking through rugs, smoking anything that remotely resembled crack cocaine,” Hunter freely admitted to CBS interviewer Tracy Smith. “I probably smoked more Parmesan cheese than anyone you know, Tracy.” Tracy Smith was so visibly stunned by the remark that she never bothered to ask the obvious question as to why there would be so much cheese on anybody’s carpet. But that’s neither here nor there. Given the above admission, one would be excused for picturing a mental image of Hunter hoovering up traces of cocaine-laced dust from Oval Office carpets with his nose. In fact, plenty of memes to the tune have been posted online since the White House drug scare, taken with various degrees of seriousness.

Yet the fact that one of the most powerful (but certainly not the most popular, as the Democratic Kennedy clan was, for example) American political dynasties could not keep in check Hunter’s deep-seated drug problems speaks volumes about the Biden administration and the fate of the nation at large. In due fairness to the Biden family, they did succeed in raising a successful and morally upstanding man, Hunter’s older brother, Beau, a politician, lawyer, and officer who had a very promising political career ahead of him, until he succumbed to brain cancer at the age of 46.

By comparison, to a large part of the conservative American public, Hunter has become a sinful, sweaty, hyperventilating metaphor for everything wrong with America today: crime, overindulgence, and degradation of the norms of morality in the same vein that sees young children exposed to sexualized drag shows as some sort of “inclusivity.” One would think that a wayward son such as Hunter and a bag of drugs discovered at the very seat of power (whether the two are linked in reality, or just in the public eye) should prove fatal to the president’s reputation. But in the current decadent-empire state of the US, with drug use less and less frowned upon and the boundaries of sexual depravity being pushed ever farther away, isn’t Hunter simply keeping up with the trends? If anything, all this makes the Bidens more relatable for their ultra-liberal fan base.

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“MAGA Democrat.” To beat the Hillary-Obama-Biden machine, this could be the only ticket.

• Unlikely Trump-RFK Ticket Remains a Hot Topic (ET)

On July 6, Mr. Kennedy told NewsMax he wouldn’t consider being a running mate for either Trump or [Joe] Biden, but the prospect of a Kennedy/Trump ticket remains a hot topic on social media and also among high-profile politicians and could reveal how America will vote next November. Former Trump adviser Steve Bannon suggested a Trump/Kennedy ticket back in April. Early in July, on the Christian Broadcasting Network (CBN), former Arizona gubernatorial candidate Kari Lake, who considered herself a vice-presidential prospect for Trump, was asked about what she thought of the idea. While she didn’t directly answer the question, Mrs. Lake called Mr. Kennedy a good man who has done amazing and criticized people who have been referring to Mr. Kennedy as a “MAGA Democrat.”

“They just don’t want outsiders in the political machine, they don’t want outsiders coming into the swamp draining the swamp,” said Mrs. Lake, “They just want just the pre-approved, controllably, easily blackmailed and easily bribed people like Biden and the whole swamp system down there.” Mr. Bannon said Mrs. Lake is his favored choice for Trump’s vice president, but said on his War Room show that if she wasn’t available “Kennedy would be an excellent choice.” Others like Connecticut resident Libby DePiero, who has attended 41 Trump rallies since his first run for president in 2016, told The Epoch Times it would be a “dream come true” if Kennedy and Trump ran together. “Between Kennedy’s fight for medical freedom against the COVID tyrannists [sic], and Trump’s proven record to make Americans first in their own country, it would be an even better presidency than Trump’s first time in office,” she said.

Several who like the idea have run polls on social media posing the question. According to a Twitter poll of 1,629 users, 73.8 percent said they would support a Trump/Kennedy Ticket. The poll was based on 1,629 voters. Participants like New York Times bestselling author and founder of ACT for America Brigitte Gabriel said a “Trump-Kennedy 2024 unity ticket would end Biden’s chances of re-election!” Ms. Gericke said that while Kennedy does come from a political dynasty, she sees him as an outsider like Trump who knows that this world is such dire straits that the presidency is beyond party loyalty.

Mrs. Psenick Hope said while she and her husband were vacationing in Colorado, they broached the idea of a Kennedy/Trump ticket with locals in the left-leaning state. “They said they would support Trump if Kennedy was on the ticket with him, she said, “just like Republicans say they would support Kennedy if he was on the ticket with Trump.” Mrs. Lake told CBN anchor Gary Lane that the swell of support for a Kennedy/Trump ticket shows “we are almost beyond Democrat versus Republican. We are now Communism and Globalism versus Americanism,” she said. She said while like herself, Trump has political differences with Kennedy, she suspects “he also respects” RFK Jr.

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“There is no other way than a total win and to get rid of Putin…We have to take all risks for that. No compromise is possible, no compromise.”

• How To Avoid The Worst Battlefield Defeat The US Has Suffered (Helmer)

There’s no American anti-war movement in the Vietnam War, Syrian War or Afghan War sense of the term. That’s because there is a genuine US strategic interest at stake in fighting Russia to the last Ukrainian, and further. No comparable strategic stake existed in the earlier wars. The stake in the war against Russia is the preservation of the US occupation of Germany and the empire in Europe and the UK, together with the credibility of US weapons which must be sold worldwide at prices to match their reputations in combat. Losing the war on the Ukrainian battlefield and in the sanctions war against Russia means a worldwide defeat for the US, its military power, its commercial and financial dominance, along with its command-and-control systems, subsidiaries, and retainers.

The substitute for an anti-war movement in Washington is faction-fighting over what means, what terms can be devised to get the US out of the Ukraine before the Ukrainian army capitulates, Vladimir Zelensky flees for his life and fortune, and with them the collapse of the US alliance called NATO. The apprehension of the allies in Europe was revealed a few days ago when Jacques Attali answered a telephone call he thought was from former Ukrainian president Petro Poroshenko, but which came instead from the Russian pranksters Vovan and Lexus. Attali, French presidential adviser, US retainer, and ex-head of the European Bank for Reconstruction and Development, said he knew French President Emmanuel Macron well and that Macron was afraid the US would abandon the Ukrainians to save itself.

There was the same fear among the Germans and British, Attali added. “The weak point is what happens in Washington.” “[This is] a nightmare scenario. That would be the US saying, well, enough is enough. We are not going to help Ukraine more. You have to go to negotiations, to the negotiating table. And that’s it. … Neither France, Germany or the UK can do that. But the US could arm-twist your [Poroshenko’s] government and your country [Ukraine] to say we want a ceasefire whatever it costs and stop [the war]. The most important thing is to avoid that.” “There is no other way than a total win and to get rid of Putin…We have to take all risks for that. No compromise is possible, no compromise.” This is the European allies’ last stand, their backs to the wall at the Dnieper River. It is the rationale for desperate measures on the battlefield, and at the NATO summit on July 11.

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“They’re handing them equipment that they then have to learn to use, which usually takes six months to a year to actually effectively learn how to use. And they’re doing this in a training session compressed into just a few weeks..”

• Ukrainian Counteroffensive Headed for ‘Disaster’ – Ex-US Marine (Sp.)

The White House rushed into preemptive damage control mode on Friday amid backlash over President Joe Biden’s controversial decision to send cluster munitions to Ukraine. “The Ukrainians are running out of ammunition,” Biden said in a media interview. “This is a war related to munitions, and they’re running out of that ammunition and we’re low on it,” he added. Under Secretary of Defense Colin Kahl confirmed to reporters that the US would try to get the cluster munitions to Ukraine “in a timeframe that is relevant for the counteroffensive.”

But the latest news from the front suggests otherwise, with Ukrainian frontline commanders and grunts telling Western media that they’re running low on everything from vehicles and ammunition to man portable air defense missiles, while the much-advertised NATO main battle tanks once expected to turn the tide have actually been pulled back from the front after taking losses. Still, over a month into the offensive, Ukrainian and NATO officials and most media continue to assure that the battles have been “probing attacks,” and that, in Kahl’s words, the “majority of [Kiev’s] combat power for this fight has not yet been brought to bear.” “You don’t do probing actions with your best tanks, your best infantry fighting vehicles,” Brian Berletic told Sputnik’s New Rules podcast.

“You do that with forces that are in a certain way ‘expendable.’ And then you follow that up with your best forces to exploit any gains that they might make. They have not been making gains. They’ve been mired in these minefields. And I think what we’re actually watching is a failure to plan for and properly breach these minefields. And it’s being passed off as merely probing actions ahead of the main offensive,” the former Marine said. According to Russian Defense Ministry figures, between the beginning of June and July 9, Ukraine has lost close to 1,250 armored vehicles (including tanks), nearly 950 other military vehicles, 29 rocket artillery launchers, 425 pieces of artillery and mortars, two air defense systems, over 500 drones, 22 airplanes, and six helicopters.

It was “extremely unrealistic” from the start on Kiev’s part to imagine that going into the counteroffensive with NATO-trained troops and NATO equipment would somehow transform their forces into an invincible army, Berletic said. “We have to remember that even though NATO trained Ukrainian troops ahead of this offensive, they did so in a very abbreviated manner. They’re handing them equipment that they then have to learn to use, which usually takes six months to a year to actually effectively learn how to use. And they’re doing this in a training session compressed into just a few weeks. You cannot accelerate something like this. If you rush training, it’s going to play out disastrously on the battlefield,” the former Marine explained.

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“We had to evacuate the evacuation team..”

• Ukraine Reportedly Pulls Leopard 2s From Front, Low on Armor, Ammo (Sp.)

The US announced Friday that it would be rushing controversial cluster munitions to Ukraine to help shore up Kiev’s flagging counteroffensive, which began a month ago but has run up against stiff resistance from Russian forces backed by heavy artillery and air support. The Ukrainian military doesn’t have enough tanks, armored vehicles or ammo to overrun heavily entrenched Russian positions, has pulled its vaunted Leopard 2s from the frontline, and is looking to ramp up domestic tank production – a process that will take up to 6 months, US business media have reported, citing senior Ukrainian officials and frontline commanders.

“It’s impossible to completely destroy such a well-prepared position before advancing,” a unit commander from Ukraine’s 108th Brigade said of Russian entrenchments, telling US media that Ukrainian forces are suffering a shortage of armored vehicles, with infantry forced to advance on foot, which makes them vulnerable to flanking maneuvers. “If we had more vehicles, we could have brought more infantry to the flanks,” the commander said, admitting that a month after the counteroffensive began, he had yet to take part in an operation that successfully captured and held a defended Russian position. Instead, Ukrainian forces have so far only be able to capture a “handful” of villages in Zaporozhye and Donetsk regions, at the cost of thousands killed and hundreds of tanks and armored vehicles destroyed.

Last week, the Russian military reported that in a month of battle, Ukraine had lost 920 armored vehicles, including 16 Leopard tanks, and 18 aircraft. Another major problem is the lack of artillery and air superiority, with Kiev’s small arsenal of Soviet-era fighters and helicopters facing up against a superior force of Russian Sukhoi fighter jets and Ka-52 Alligator gunships. Kiev has been loath to use its NATO-provided Leopard 2 tanks, with the 68 ton behemoths apparently getting stuck in minefields in the first phase of the offensive in early June, and Leopard 2s not “seen on the battlefield” since then. Western military analysts suggest Kiev may be saving them for use in a breakthrough amid probing for weak spots in Russian positions, but the task is said to be complicated significantly by the region’s mostly flat, open fields, which offer scant protection or places to hide.

Grunts offered candid appraisals of Ukrainian forces’ horrific losses, with soldiers from the southern front, presumably in Zaporozhye, saying they could lose “dozens of men” in a single assault. “We had to evacuate the evacuation team,” a 19-year-old combat medic said, recalling an instance where a mortar hit his vehicle during an evacuation of wounded.

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What is pessimistic about not starting WWIII?

• Ukraine Pessimistic About Outcome Of NATO Summit In Vilnius (TASS)

Ukrainian authorities are not optimistic on the eve of the July 11-12 NATO summit in Vilnius, according to The Guardian newspaper. According to it, “Ukraine is increasingly pessimistic about taking a significant step forward in joining Nato as leaders of the western military alliance are set to assemble on Tuesday in the Lithuanian capital, Vilnius.” The newspaper says that the Kiev regime “is expected to be offered a package of last-minute ‘enabling security guarantees’ at the two day summit – an assurance from countries such as the US, UK, France and Germany that military aid and training will continue in the long term,” while Kiev believes that “Nato membership, carrying with it the defensive prospect of the western nuclear umbrella, is the only realistic long-term guarantee of its security.”


The Financial Times reported on Sunday, citing its sources, that the US and Germany were not going to guarantee Ukraine automatic NATO membership without profound reforms. At the April 2008 Bucharest summit, the alliance approved a political statement that Ukraine and Georgia would become NATO members with time, but refused to present the Membership Action Plan (MAP) to either country, given that this is a first step in the legal procedure on joining the organization. In February 2019, Ukraine’s Verkhovna Rada approved constitutional amendments enshrining Kiev’s aspiration to join NATO. Ukrainian President Vladimir Zelensky repeatedly stated that Kiev needed a specific timeframe of joining the military bloc.

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There will be some convoluted wording.

• NATO Powers Race To Finish Security Pledges For Ukraine (RT)

A small group of Western allies are engaged in “advanced” and “frantic, last-minute” negotiations to finalize a security assurance declaration for Ukraine ahead of this week’s NATO summit in Lithuania, according to four officials familiar with the talks, Report informs, citing POLITICO. For weeks, the United States, the United Kingdom, France, and Germany have been discussing the issue with Kyiv, and have also reached out to other allies in NATO, the EU, and the G7. The idea is to create an “umbrella” for all countries willing to provide Ukraine with ongoing military aid, even if the details vary from country to country. A senior NATO diplomat said it would be up to each interested country to bilaterally determine with Ukraine “what your commitment will be. And it could be anything, from air defense to tanks to whatever.”


The initiative may ultimately amount to promises to continue much of the aid allies are already providing: arms, equipment, training, financing, and intelligence. But the intent is to offer a more-permanent signal of unity for Ukraine, especially as Kyiv is unlikely to get the firm pledge on NATO membership it wants at this week’s summit. “It is basically a guarantee towards Ukraine that we will, for a very long time to come, we will equip their armed forces, we will finance them, we will advise them, we will train them in order for them to have a deterrent force against any future aggression,” the senior NATO diplomat said.

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“NATO was confined to the North Atlantic by the treaty that defines it..”

• Paul Keating: NATO Chief A ‘Supreme Fool’, ‘Accident On Its Way To Happen’ (G.)

Australia’s former prime minister Paul Keating has labelled the head of Nato a “supreme fool” for his push to increase the alliance’s ties with Asia in an attempt to contain China. Keating made the comments about secretary general Jens Stoltenberg in a statement released as Australia’s prime minister, Anthony Albanese, travels to Germany and the Nato leaders’ summit in Lithuania to discuss greater support for Ukraine. Keating is a strident critic of the acquisition of nuclear submarines through the Aukus alliance to guard against possible aggression from China, which Labor supported in opposition and has continued in government. In a statement, Keating praised French president Emmanuel Macron for warning Nato “away from any expansion into Asia, reminding all and sundry of Nato’s Atlantic design and focus”.

Paris has opposed Nato plans to open a liaison office in Japan, which would be the alliance’s first outpost in the region. The Vilnius summit was also reportedly to see the announcement of a new partnership between Nato and Japan which could see more joint military drills and interoperability. Keating said that Asia’s “promise” after its recent development “would be compromised by having anything to do with the militarism of Europe – and militarism egged on by the United States”. “Of all the people on the international stage the supreme fool among them is Jens Stoltenberg, the current secretary-general of Nato. “Stoltenberg by instinct and by policy, is simply an accident on its way to happen.”

Keating cited parallels Stoltenberg drew in February between Russia’s invasion of Ukraine and China in remarks that “we should not make the same mistake with China”. He said Stoltenberg’s position was “that China should be superintended by the West and strategically circumscribed”. “Stoltenberg, in his jaundiced view, overlooks the fact that China represents twenty per cent of humanity and now possesses the largest economy in the world … and has no record of attacking other states, unlike the United States, whose bidding Stoltenberg is happy to do,” Keating said. A Macron official told reporters last Friday the French were not in favour of an expansion into Asia “as a matter of principle”, saying NATO was confined to the North Atlantic by the treaty that defines it. Macron has previously resisted a Nato focus on China saying the country “has little to do with the North Atlantic”.

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“If there is any logic behind the Administration’s decision to transfer cluster munitions, it boils down to ‘it won’t get any worse.’”

• White House Admits To Committing War Crimes In Ukraine – Russian Embassy (TASS)

The US administration has essentially admitted to committing war crimes in Ukraine, the Russian Embassy in Washington said reacting to a statement by US White House National Security Council spokesman John Kirby with regard to supplying the Kiev regime with cluster munitions. “We have taken note of the Director for Strategic Communications of the NSC John Kirby’s statements about the provision of cluster munitions to Ukraine. The official de facto confessed to the United States committing war crimes during the Ukrainian conflict. He overtly stated that civilians would fall victim to [the US’] cluster-type weapons. According to the perverted view of the White House representative, this does less harm than the actions of Russia,” the Russian diplomatic mission noted. “If there is any logic behind the Administration’s decision to transfer cluster munitions, it boils down to ‘it won’t get any worse.’

The United States is ready to destroy life far from its own borders with the hands of Ukrainians,” the embassy added. According to the Russian diplomats, the US administration is involved in this “only for the sake of an unattainable dream of the strategic defeat of the Russian Federation, which defends its people and its land. We fight Kiev criminals who embrace the Azov (a nationalist battalion outlawed in Russia – TASS) terrorists, while the United States is helping Ukrainian Nazis commit inhuman acts.” In an interview, broadcast on Sunday, Kirby insisted that Washington was supplying cluster ordnance to the Kiev regime in order to replenish the conventional artillery shells the Ukrainian armed forces are running out of quickly. “We are trying to ramp up our production of the kind of artillery shells that they’re using most. But that production is still not where we wanted it to be,” the White House official said. “So, we’re going to see these additional artillery shells that have cluster bomblets in them to help bridge the gap as we ramp up production of normal 155 artillery shells,” he added.

Farhan Haq, deputy spokesman for UN Secretary General Antonio Guterres, earlier said that the UN chief supported the Convention on Cluster Munitions and opposed the use of this type of weapons on the battlefield. When detonated in the air, cluster munitions scatter dozens of small bomblets over an area of dozens of square meters. If unexploded immediately, these bomblets pose a threat to civilians long after the end of any conflict. The Convention on Cluster Munitions was signed in 2008. By now, 111 countries have joined it, while another 12 nations have signed the document, but have yet to ratify it. According to Human Rights Watch, the dud rate of cluster munitions is usually much higher than the declared level, which leads to civilian casualties.

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But their president would rather keep wasting their lives.

• US Can End Ukraine Conflict In 5 Minutes By Ceding Territory – Zelensky (TASS)

Ukrainian President Vladimir Zelensky has said that his US counterpart Joe Biden could end the Ukrainian conflict in five minutes by giving up Ukrainian territory but Kiev disagrees. “If we are talking about ending the war at the cost of Ukraine, in other words, to make us give up our territories, well, I think, in this way, Biden could have brought it to an end even in five minutes. But we would not agree,” he said in an interview with ABC News. He also commented on remarks by ex-US President Donald Trump who vowed to stop combat within 24 hours. Zelensky reiterated that Trump had already had that chance while he was in office.


“The sole desire to bring the war to an end is beautiful. But this desire should be based on some real-life experience. Well, it looks as if Donald Trump had already these 24 hours once in his time. We were at war, not a full-scale war, but we were at war and as I assume he had that time at his disposal, but he must have had some other priorities,” the Ukrainian leader insisted. That said, he mentioned some “dangerous signals” with regard to reducing aid to Ukraine “coming from particular politicians” in the US.

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“..that common ground no longer exists between the U.S. and Russia, and there is no interest in diplomacy at all..”

Well, in Russia, there is.

• The Era of Nukes and No Diplomacy: ‘Crossing a Rubicon to Armageddon’ (SP)

The Doomsday Clock continues to tick toward nuclear war, but at its fastest pace ever. Professor Jackson Lears, a former naval officer serving on a U.S cruiser carrying tactical nuclear weapons, considers the current moment more frightening than at any time during the Cold War. Then, there was intense alarm for the fate of the earth and the survival of the human race. Today, rather than diplomacy or negotiation, talk revolves around new weapons shipments, disappointment in Ukraine’s counteroffensive failures, and even drone strikes in Moscow. But far less attention has been paid to the prospect of nuclear war between Russia and the U.S that threatens to end all life on this planet as we know it. That is the alarm sounded by cultural historian and author Jackson Lears who joins host Robert Scheer to discuss Lears’s essay for Harper’s Magazine, “Behind the Veil of Indifference.”

Lears’s piece warns that despite the public indifference, a “winnable nuclear war” has entered the minds of American strategists and politicians once again, undermining years of work towards nuclear disarmament. Lears tells Scheer that it is similar to the attitudes from the Cold War, yet this time, there is an eerie disinterest from the American side about even talking to someone like Vladimir Putin. “[T]his is, in a sense, a return to the worst kind of confrontations of the early 1960s but there’s a big difference because even Kennedy and even Reagan, cold warriors that they were, were eager to create common ground ultimately between the U.S. and the Soviet Union. And that common ground no longer exists between the U.S. and Russia, and there is no interest in diplomacy at all,” Lears said.

Scheer and Lears highlight a critical factor in shaping public perception: the Russiagate controversy and the media’s role in complying with government demands for secrecy, beginning in the late 1970s, while also promoting narratives that fostered consent for war with Russia. Scheer said, “if you even dare suggest there’s some complexity to this issue, or that the other side might have a point of view, or there’s something even worth negotiating about, you’re now considered unpatriotic.” Lears agreed: “We have former directors of the CIA who have perjured themselves before Congress, now posing as professional wise men and professional truth tellers on MSNBC and CNN.”

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Biden’s too old to see the changes.

• Biden Believes China Wants to ‘Replace US as Leading Power’ (Sp.)

US President Joe Biden expressed belief on Sunday that the United States and China could establish working relationship that would benefit both sides. “I think there is a way to resolve, to establish a working relationship with China that benefits them and us,” Biden said. At the same time, he expressed the opinion that Chinese leader Xi Jinping wanted China to replace the United States as the leading power. “I’m confident he wants to have the largest economy in the world and have the largest military capacity in the world,” Biden said. He added that Xi also wanted to rewrite certain rules of the international order, but “not all of them.”

“I think so. Not all of them. But he pointed out to me and said we weren’t there when those rules were written … But I don’t think he wants, he’s looking for a war conflict, expansion of territory,” Biden said. The US President made these statements as he was leaving for Great Britain on Sunday to meet with King Charles III before continuing to Lithuania for a NATO summit on July 11-12 and then have a final stop in Finland. Biden’s comments on China came amid increased economic and financial contradictions between the two nations. US-China relations are strained by the growing restrictions on exports of US goods and services, the persistence of import duties on Chinese goods, Washington’s threats against Beijing over the latter’s cooperation with Moscow, the growth of world trade in yuan and the decreased influence of the US dollar across the globe.

The US President also touched upon the matter of cooperation with Saudi Arabia, saying that the the United States was a “long way from” providing Riyadh with defense treaty and civilian nuclear capacity. “We’re a long way from there,” Biden said, when asked whether the US was ready to provide Saudi Arabia with a defense treaty and civilian nuclear capacity to gain recognition of Israel on the part of Riyadh. In June, The New York Times reported that the Biden administration was making active attempts to normalize Israeli-Saudi relations. Riyadh, for its part, demands that Washington provide it with civilian nuclear capacity, sign a defense agreement on security guarantees with the country and remove some restrictions on the supply of US weapons to Saudi Arabia, the report said.

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Guillain-Barre WAS rare.

• Peru Declares Health Emergency Due To Spike In Guillain-Barre Cases (Az.)

The Peruvian government declared a 90-day national health emergency Saturday due to an “unusual increase” of cases of Guillain-Barre syndrome, which total 165 with four deaths, Report informs via Xinhua. The decree, published in the official gazette El Peruano, details an action plan which has been drawn up with a budget of 12.12 million soles ($3.3 million) with an aim to improve patient care in health facilities, reinforce case control and prepare informative material for the population and health personnel. Among the measures were the acquisition of intravenous immunoglobulin and human albumin, as well as specialized diagnosis of the biological agents associated with the syndrome and assisted air transport for patients in emergency or critical condition.


Guillain-Barre syndrome is a rare disorder where the body’s immune system attacks part of the peripheral nervous system. So far this year, at least 18 of the country’s 24 departments have reported at least one case of the syndrome. The unusual spike in cases of a rare disease in a short period of time “negatively affects the continuity of health services, as there are not enough strategic resources to respond to the volume and complexity of the cases in health facilities,” warned the decree.

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“They were struggling for a financial model to survive. They hadn’t really adapted to the age of the internet. You had Julian coming in with a completely new model of journalism.”

• Journalists Abandoned Julian Assange and Slit Their Own Throats (Chris Hedges)

When Julian and WikiLeaks released the secret diplomatic cables and Iraq War logs, which exposed numerous U.S. war crimes, including torture and the murder of civilians, corruption, diplomatic scandals, lies and spying by the U.S. government, the commercial media had no choice but to report the information. Julian and WikiLeaks shamed them into doing their job. But, even as they worked with Julian, organizations such as The New York Times and The Guardian were determined to destroy him. He threatened their journalistic model and exposed their accommodation with the centers of power.


“They hated him,” Matt said of the mainstream media reporters and editors. “They went to war with him immediately after those releases. I was working for The Financial Times in Washington in late 2010 when those releases happened. The reaction of the office at The Financial Times was one of the major reasons I got disillusioned with the mainstream media.” Julian went from being a journalistic colleague to a pariah as soon as the information he provided to these news organizations was published. He endured, in the words of Nils Melzer, at the time the U.N. Special Rapporteur on Torture, “a relentless and unrestrained campaign of public mobbing, intimidation and defamation.” These attacks included “collective ridicule, insults and humiliation, to open instigation of violence and even repeated calls for his assassination.”

Julian was branded a hacker, although all the information he published was leaked to him by others. He was smeared as a sexual predator and a Russian spy, called a narcissist and accused of being unhygienic and slovenly. The ceaseless character assassination, amplified by a hostile media, saw him abandoned by many who had regarded him a hero. “Once he had been dehumanized through isolation, ridicule and shame, just like the witches we used to burn at the stake, it was easy to deprive him of his most fundamental rights without provoking public outrage worldwide,” Melzer concluded. The New York Times, The Guardian, Le Monde, El Pais and Der Spiegel, all of which published WikiLeaks documents provided by Julian, published a joint open letter on Nov. 28, 2022 calling on the U.S. government “to end its prosecution of Julian Assange for publishing secrets.”


But the demonization of Julian, which these publications helped to foster, had already been accomplished. “It was pretty much an immediate shift,” Stella recalled. “While the media partners knew that Julian still had explosive material that still had to be released, they were partners. As soon as they had what they thought they wanted from him, they turned around and attacked him. You have to put yourself in the moment where the press was in 2010 when these stories broke. They were struggling for a financial model to survive. They hadn’t really adapted to the age of the internet. You had Julian coming in with a completely new model of journalism.”

Read more …

 

 

 

 


Primitive man believed the weather was determined by his good or bad actions. Today this belief takes the form of believing climate is determined by man, rather than by the Sun’s irregular orbit & activity: Milankovitch Cycles, Solar Inertial Motion, Solar Flares.

 

 

Vet

 

 


The photographer Leonardo Sens, waited 3 long years to take this fantastic shot in Rio de Janeiro, Brazil.

 

 

Chicken

 

 


A baby blue marlin in the larvae stage. The eye to body ratio is quite high. This marlin might weigh up to 800 kg or 1800 pounds at maturity

 

 

 

 

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

 

 

 

 

 

Debt Rattle June 1 2021

Jun 012021
 
 June 1, 2021  Posted by at 8:47 am Finance Tagged with: , , , , , , , , ,  30 Responses »


Pablo Picasso La lecture 1932

 

• 3 Leaks that Sink the Covid Narrative (OffG)
• Thanks For The Labels (Denninger)
• After COVID-19 Successes, Push For mRNA Vaccines For Other Diseases (Nature)
• Former National Security Advisor: ‘I Think We Can’ Find Covid-19 Origin (Hill)
• Peru Surges To Highest Covid Death Toll Per Capita (Axios)
• EU Plans To Lift Covid Quarantine Rules For Vaccinated From 1 July (G.)
• The Three Rivers of Angst (Kunstler)
• US Caught Spying On EU ‘Allies’ Again…What Is Europe Going To Do About It? (RT)
• Russia May Be Cut Off From SWIFT Banking Payment System (RT)
• EU Set To Unveil Plans For Bloc-Wide Digital Wallet (R.)
• Just 7% of UK Shop Payments Predicted To Be In Cash By 2024 (G.)

 

 

 

 

German department of the interior report: “The danger is obviously no greater than that of many other viruses.”

• 3 Leaks that Sink the Covid Narrative (OffG)

The science of the coronavirus is not disputed. It is well documented and openly admitted: Most people won’t get the virus. Most of the people who get it won’t display symptoms. Most of the people who display symptoms will only be mildly sick. Most of the people with severe symptoms will never be critically ill. And most of the people who get critically ill will survive. This is borne out by the numerous serological studies which show, again and again, that the infection fatality ratio is on par with flu. There is no science – and increasingly little rational discussion – to justify the lockdown measures and overall sense of global panic. Nevertheless, it’s always good to get official acknowledgement of the truth, even if it has to be leaked. Here are three leaks showing that those in power know that the coronavirus poses no threat, and in no way justifies the lockdown that is going to destroy the livelihoods of so many.

1. “IT’S ALL BULLSHIT!” On May 26th Dr Alexander Myasnikov, Russia’s head of coronavirus information, gave an interview to former-Presidential candidate Ksenia Sobchak in which he apparently let slip his true feelings. Believing the interview over, and the camera turned off, Myasnikov said: “It’s all bullshit […] It’s all exaggerated. It’s an acute respiratory disease with minimal mortality […] Why has the whole world been destroyed? That I don’t know,”

2. “COVID-19 CANNOT BE DESCRIBED AS A GENERALLY DANGEROUS DISEASE” According to an e-mail leaked to Danish newspaper Politiken, the Danish Health Authority disagree with their government’s approach to the coronavirus. They cover it in two articles. There’s a lot of interesting information there, not least of which is the clear implication that politicians appear to be pressing the scientific advisors to overstate the danger (they did the same thing in the UK), along with the decision of some civil servants to withhold data from the public until after the lockdown had been extended. But by far the most important quote is from a March 15th e-mail: The Danish Health Authority continues to consider that covid-19 cannot be described as a generally dangerous disease, as it does not have either a usually serious course or a high mortality rate,” On March 12th the Danish parliament passed an emergency law which – among many other things – decreased the power of the Danish Health Authority, demoting it from a “regulatory authority” to just an “advisory” one.

3. “A GLOBAL FALSE ALARM” Earlier this month, on May 9th, a report was leaked to the German alternate media magazine Tichys Einblick titled “Analysis of the Crisis Management”. The report was commissioned by the German department of the interior, but then its findings were ignored, prompting one of the authors to release it through non-official channels. The fall out of that, including attacks on the authors and minimising of the report’s findings, is all very fascinating and we highly recommend this detailed report on Strategic Culture. We’re going to focus on just the reports conclusions, including [our emphasis]:

The dangerousness of Covid-19 was overestimated: probably at no point did the danger posed by the new virus go beyond the normal level. The danger is obviously no greater than that of many other viruses. There is no evidence that this was more than a false alarm. During the Corona crisis the State has proved itself as one of the biggest producers of Fake News. After being attacked in the press, and suspended from his job, the leaker and other authors of the report released a joint statement, calling on the government to respond to their findings.

Read more …

“Took the stab? You’re off the marriage-potential list permanently. Why? Potential life-long medical complications, that’s why.”

• Thanks For The Labels (Denninger)

One of the latest bits of insanity: Dating apps are allegedly asking if you’ve taken the Covid stab and displaying a “badge” if you have. I haven’t verified this personally since I have no use for such things, but it’s allegedly either there or being rolled out. To which, if I was single and younger, especially of potential child-siring age, I’d say “thanks for the warning.” Indeed, the malicious (or shall we say, “predatory”) men out there just got fair warning of who is a **** ’em and leave “fun” date. Took the stab? You’re off the marriage-potential list permanently. Why? Potential life-long medical complications, that’s why. Do I want to marry someone who may have given themselves an auto-immune disease three or five years down the road? Oh Hell No. But if she’s cute, well, the bed awaits — for now.

When Lupus or similar “screw you” lifetime medical issues make their appearance she can enjoy the company of her cats — that wasn’t a random chance thing we all are forced to face as adults and is always part of the deal it was self-inflicted stupidity and her other half didn’t get a vote. Never mind the rather clear problem that is presented to anyone (of either sex) contemplating a permanent relationship with someone who is willing to stab themselves with an experimental drug. There’s a legitimate reason to do it, by the way: You already know you’re at very high risk of a respiratory virus killing you, so despite the unknowns the math pencils out. Ok, thanks for the warning again; you aren’t in good health and don’t expect to remain that way. Is that person marriage and child-raising material? Naw, but a **** is all good.

Then there’s those who can be bribed cheap — you know, with a donut, or a lottery ticket? That’s great marriage material too, right? I mean, let’s face facts: A healthy 20-something person has a statistical zero risk of being killed by Covid and half of them probably already had it and may not even know so they didn’t take the shot to protect their own health after careful deliberation and an antibody test first, right? How does this relate to long-term relationships? Simple: There’s always some ******* who is richer, no matter how much you have and she just branded herself as willing to sell her future cheap. VERY cheap. Thanks for the warning; it’s a hell of a lot better for a guy to conclusively find this out before he needs a divorce lawyer! Make sure the rubbers stay in your wallet so she can’t “pin” them before use and for the love of God flush the damn thing after you’re done so she can’t fish it out of the trash can!

It’s even worse from the male future family evaluation side. Some guys do want families. Was there permanent damage done to that capability in terms of bearing kids? We know that those nice mRNA shots show up in the ovaries. Oh, chick-a-dee didn’t know that before rolling up her sleeve? Well, that’s what haste gets you — not bothering to wait for the science to figure it out. I have no idea and neither does she if that’s a problem but she took the stab voluntarily. So about that willingness to have said family and put your relationship in front of preening around virtue-signaling on Instabitch and Facesucker, eh? Maybe that will all work out ok, but it seems to me that by the time we will know with reasonable certainty the window will be closed on the baby factory as only high-risk (for both woman and child) and maybe even IVF, if any, pregnancies will be possible. Again: No thanks; I’ll take the woman who didn’t deliberately risk permanent compromise of her reproductive capacity so she could get into Lollapalooza.

Read more …

21st century Frankenstein?

• After COVID-19 Successes, Push For mRNA Vaccines For Other Diseases (Nature)

When the broad range of vaccines against COVID-19 were being tested in clinical trials, only a few experts expected the unproven technology of mRNA to be the star. Within 10 months, mRNA vaccines were both the first to be approved and the most effective. Although these are the first mRNA vaccines to be approved, the story of mRNA vaccines starts more than 30 years ago, with many bumps in the road along the way. In 1990, the late physician-scientist Jon Wolff and his University of Wisconsin colleagues injected mRNA into mice, which caused cells in the mice to produce the encoded proteins. In many ways, that work served as the first step toward making a vaccine from mRNA, but there was a long way to go—and there still is, for many applications.

Traditional vaccines use a weak or inactive form of a microorganism to turn the immune system against the disease. After a person is given injection of an mRNA vaccine, their cells make part or all of a protein that causes an immune response, including the production of antibodies. Although the most widely known examples are the mRNA-based vaccines from BioNTech–Pfizer and Moderna directed against the SARS-CoV-2 coronavirus that causes COVID-19, that is just one small part of this field—and those vaccines were not the first efforts that used mRNA. Despite the many benefits of using this molecule as the basis of a vaccine, it comes with fundamental challenges: it is not very stable inside cells, and mRNA is not efficiently translated into proteins when used as a gene-delivery tool. Today, mRNA can be engineered to battle many diseases, but it will not work with all of them.

German biotechnology company BioNTech’s chief medical officer Özlem Türeci—physician, immunologist and entrepreneur—says that “mRNA has a couple of interesting features that make it attractive for vaccines.” Adaptability serves as this molecule’s key feature in this application and beyond. mRNA can be engineered not only to make antigens for vaccines but also to encode antibodies, cytokines and other proteins related to the immune system. “The versatility of mRNA creates a huge design space,” she explains. The scientists at BioNTech spent years researching and developing techniques to get full command over mRNA, including optimizing its non-coding parts, designing specific sequences, developing manufacturing processes and more.

Türeci describes the results of those efforts by saying, “We have a diversified toolbox and by mixing and matching the modules in this toolbox, we can design mRNA with the features that we need for a particular purpose.” She adds that “it is a bit like writing code—by mastering a programming language [that] is rich in terms, one can give any instruction one wants.” With the BioNTech toolbox, the scientists can control how much protein is produced and for how long, the route of administration of the mRNA, which cells express the protein and if the mRNA creates a precise activation or suppression of the immune system.

Read more …

Does Biden really want to find out?

• Former National Security Advisor: ‘I Think We Can’ Find Covid-19 Origin (Hill)

Former Deputy National Security Advisor Matthew Pottinger said that he believes it is possible to ascertain the origins of COVID-19 during a discussion of the Wuhan lab origin theory on Sunday. “I think there’s a lot that can be learned in 90 days,” Pottinger told “Meet the Press” host Chuck Todd on NBC, referring to President Biden’s recent call for a 90-day report on the origins of COVID-19 from the U.S. intelligence community. “It’s conceivable that we’ll have an answer and even if we come up short with a definitive answer, what we’re gonna have is a foundation for additional revelations to come out from scientists around the world who are now going to be emboldened because they know that this is a priority of the United States,” Pottinger added.


Todd asked Pottinger if he believed a “definitive answer” about the origins of COVID-19 could be found even if the Chinese government is uncooperative. “I think we can. It might take more than 90 days, but look, … China has incredible and ethical scientists, many of whom in the early stages of the pandemic came out to say that they suspected that this was a lab leak,” Pottinger said. “So those people have been systematically silenced by their government,” he added, saying a U.S.-led global effort to find the origins of COVID-19 may embolden these scientists to come forward.

Read more …

With or from Covid?

• Peru Surges To Highest Covid Death Toll Per Capita (Axios)

Peru officials revised the country’s COVID-19 death toll Monday from 69,342 to 180,764 after a review. The almost tripling of the number listed Sunday means the country has the worst pandemic death rate per capita, according to Johns Hopkins University data. Per Johns Hopkins, Hungary previously had the highest coronavirus death toll per capita —about 300 per 100,000 people. With its revised toll, Peru stands at over 500 COVID-19 deaths per 100,000 people. Officials said that the undercounting was partially down to “a lack of testing that made it difficult to confirm whether a person had died due to the virus or some other cause,” Reuters reports. Experts had long raised concerns that the official death toll had been undercounted, as hospitals packed out with coronavirus patients and oxygen ran short, the news agency notes.

Read more …

It will get dangerous once they claim enough people have bee jabbed. We’re not there yet.

• EU Plans To Lift Covid Quarantine Rules For Vaccinated From 1 July (G.)

The starting pistol has been fired on a “relaxing” summer holiday season for people living in the EU from 1 July, as Brussels proposed lifting all quarantine obligations on those who are fully vaccinated against Covid-19. From Tuesday, a system will be ready to allow member states to issue a digital Covid passport to citizens proving their status and freeing them up to travel. With infection rates on a downward trajectory across the bloc, a deadline has been set for 1 July for all 27 EU countries to accept the documentation as sufficient proof of vaccination for restrictions to be lifted. A negative test or proof of having recovered from infection will confer the same rights on the holder of a certificate.

The European Commission has proposed a standard validity period for tests: 72 hours before travel for PCR tests and 48 hours for rapid antigen tests. The children of those who are fully vaccinated will also be exempt from quarantine under the proposal and as a minimum no one under six years of age will need to take a test. Many countries are likely to set a higher age threshold for the testing of minors. The intention is that fully vaccinated UK travellers will benefit from the Covid passport system but, in light of the emerging variant first identified in India, EU governments may still impose restrictions on people arriving from the UK including testing and quarantine obligations.

From Monday, entry to France has been limited to EU nationals, French residents, and those travelling for essential purposes. People arriving from the UK must have tested negative and quarantine for seven days. While a sudden deterioration in the Covid infection rates in the EU could lead to the use of an “emergency brake” on the lifting of restrictions within the bloc, the intention is to reintroduce free movement as the summer tourism season begins.

Read more …

“..the whole sorry episode looks like an act-of-war but carried out with America’s foolish willing collaboration..”

• The Three Rivers of Angst (Kunstler)

Three rivers of angst flow out of Memorial Day 2021, and it is possible to imagine how they will meet later this year and join in a mighty flood of woe over the country. The first is the toxic stream of Wokery saturating just about every institution in the USA from the armed services, to the DOJ, to education both public and private, to organized sports, to the corporate C suites and, of course, to the transmission of current events in news and social media. Despite the torrents of mendacious narratives and fogs of gaslight deployed in this campaign, a substantial chunk of the public resists suffocation and has finally begun to fight back, especially at the grass roots local level against the dogma-driven school boards out to cancel Western Civ.

Expect this to ramp up as the spring semester closes out and the schools must set the terms for resuming classes in the fall. The kids themselves are bucking the mask mandates while the parents tangle with the more vexing problems of Woke racist curricula and insane sexual propaganda. It’s going to get ugly. Another stream of angst is the River of Covid-19. The tide has just turned on the question of where it came from, namely, the Wuhan Lab, but it’s hard to game-out both what we might do about that concerning the CCP’s role in it – plus, the roles of Dr. Fauci and our own National Institutes of Health – and whether the depraved administration of China Joe Biden can even acknowledge the facts. That is to say: the whole sorry episode looks like an act-of-war but carried out with America’s foolish willing collaboration.

But then a whole raft of really deadly additional questions overrides even the quandary of who’s responsible, and I refer to the future course of the disease itself, whether another wave comes back, what new variants might emerge, and the extremely spooky issue of what the long-term effects of the experimental vaccines might be. Since the news media is so untrustworthy, and these are such troubling threats, it will be very hard to locate the truth about the medical concerns.

Read more …

They’ll throw some big words at it, that’s it.

• US Caught Spying On EU ‘Allies’ Again…What Is Europe Going To Do About It? (RT)

The espionage dynamic ultimately ties into the same mindset: The United States sees the European Union more as an economic competitor than as a friend and does not in any respect want it to get ahead of them or gain “advantage” in any specific area. The F-16 story above reveals how US intelligence in fact serves the interests of the military industrial complex, seeking out the secrets of Europe’s own defence industry and ensuring America always has the competitive edge, even to the point of making national intelligence agencies betray their own countries. As Edward Snowden stated in an interview in 2014, the US engages in constant industrial espionage against big German companies such as Siemens, stating: “If there’s information at Siemens that’s beneficial to US national interests – even if it doesn’t have anything to do with national security – then they’ll take that information nevertheless.”

In line with this, Angela Merkel, as a very Eurocentric leader who has a maverick approach to foreign policy and Germany’s place in the world, is unsurprisingly a frequent target of American intelligence activities. Washington is constantly wondering what she is thinking, intending and doing, not least regarding China and Russia where they do not see eye to eye. She is perhaps a “frenemy” to the US, a de facto ally and enemy simultaneously. But this all boils down to the big question as stated above, what is Europe going to do about it? Or can they do anything about it? The EU’s response to such unending controversies seems to be to make a small protest in the heat of the moment, but otherwise forget it and do nothing, passively tolerating American infiltration designed to undermine European interests and competitiveness across the board.

If Europe is serious about upholding its own “strategic clout” it has to be prepared to take bigger risks and stop being pressed into line under the obligation of “transatlaticism” and get tougher on the “American problem.” The bloc should take a leaf out of its rhetoric toward China and demand “reciprocity” in its relations with the United States, that it ceases espionage against them, seeks to curtail excessive “American influence” operations undermining their foreign policy and strategic independence and that it treats the continent as an equal and fair partner. Surely one would think ‘enough is enough’ but of course there is little reason to think anything will change. In a world where US surveillance is intrusive and rampant, America still surprisingly gets away with accusing everyone else of “spying.”

Read more …

By now, Russia is well prepared.

• Russia May Be Cut Off From SWIFT Banking Payment System (RT)

Russian banks may be blocked from using SWIFT, a payment system that enables reliable and secure financial transactions, as part of restrictions against Moscow, in what one official has called a potential “spiral of sanctions.” “It’s no secret that there are threats, primarily from the United States, to disconnect Russia from the SWIFT system,” said Dmitry Birichevsky, director of the Economic Cooperation Department of the Russian Foreign Ministry. Speaking on RIA Novosti on Monday, the diplomat noted that Russia has concerns that SWIFT could get caught up in a “spiral of sanctions,” led by Washington. However, the senior official doesn’t think America will act on this threat any time soon.

“I’m actually confident that we won’t be disconnected from SWIFT anytime soon, and maybe never,” he said, noting that Russia would be able to come to payment agreements with their trading partners anyway. “Since 2014, Russia has been working on its own payment system. This system already exists,” he explained. “We all use the MIR card. It is also accepted in a number of neighboring countries and in Turkey. Negotiations are also underway with other partners.” Last month, politicians from the European Parliament voted in favor of a resolution to condemn what they called Russia’s “military posturing close to the country’s border with Ukraine.” The MEPs agreed that, “should military build-up lead to an invasion,” Moscow should be excluded from SWIFT, along with other economic measures.

Proposals to cut Moscow off from the world’s leading international payment system are not new. After seven years of threats, Russia is now in a position where losing access to SWIFT would no longer be a disastrous blow. The country has created its own alternative, called SPFS, which works domestically, and Moscow is looking to expand the system internationally.

Read more …

Scary.

• EU Set To Unveil Plans For Bloc-Wide Digital Wallet (R.)

The European Union (EU) is set to unveil plans for a bloc-wide digital wallet on Wednesday, following requests from member states to find a safe way for citizens to access public and private services online, the Financial Times reported. The app will allow citizens across the EU to securely access a range of private and public services with a single online ID, according to the FT report on Tuesday. The digital wallet will securely store payment details and passwords and allow citizens from all 27 countries to log onto local government websites or pay utility bills using a single recognized identity, the newspaper said, citing people with direct knowledge of the plans.


The EU-wide app can be accessed via fingerprint or retina scanning among other methods, and will also serve as a vault where users can store official documents like the driver’s licence, the newspaper reported. EU officials will enforce a structural separation to prevent companies that access user data from using the wallet for any other commercial activity such as marketing new products. Brussels is engaged in talks with member states to provide guidelines on technical standards for rollout of the digital wallet, which is expected to be fully operational in about a year, according to the newspaper.

Read more …

Cash is freedom.

• Just 7% of UK Shop Payments Predicted To Be In Cash By 2024 (G.)

Just 7% of in-store purchases in the UK could be made in cash by 2024, a report has forecast, after the coronavirus pandemic fuelled the switch to cards and mobile payments. While cash accounted for 27% of in-store transactions in 2019, the latest global payments report from processing company Worldpay found that had fallen to 13% last year. The report predicts usage will continue to drop over the next three years. International figures showed that in several other countries, including Sweden, Canada and Australia, already less than one in 10 shop payments are made in cash. It predicted Sweden would be “almost cashless” by 2024, with 0.4% of transactions paid for with money, down from 15.2% in 2019 and 8.8% last year.


Consumers and businesses were already moving away from cash payments before the pandemic hit, but early concerns that Covid-19 could spread via surfaces led some companies to switch to contactless methods. The increase in the contactless limit on cards, and mobile payment services with no cap on spending have accelerated the switch away from cash. Worldpay said that by 2024 it expected mobile to make up a third of payments. Pete Wickes of Worldpay said: “This research shows the speed and scale of the transformation in consumer behaviour in just 12 months. “The decline in the use of cash in the UK has accelerated, and while this opens up new opportunities for businesses to optimise and drive efficiencies, we need to be mindful that important parts of the economy continue to rely on cash, such as charity donations and restaurant tip jars, while there are many in society who remain underbanked.”

Read more …

 

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Debt Rattle May 23 2020

May 232020
 
 May 23, 2020  Posted by at 11:20 am Finance Tagged with: , , , , , , , , , , , , , ,  8 Responses »


Adam Zyglis The son of man May 19 2020

 

• US Grants Tentative OK For 15 Air Carriers To Cut Service To 75 Airports (R.)
• UK Confirms 14-Day Quarantine Post-Travel (Y!)
• Remdesivir Study Finds Mortality Too High For Standalone Treatment (ZH)
• NIH Trial: Redesivir Works Best In COVID Patients On Oxygen (R.)
• US Veterans Agency Has Given HCQ To 1,300 Coronavirus Patients (R.)
• COVID19 ‘Taking Different Path In Africa’, Says WHO (G.)
• Peruvian President Extends Nationwide Lockdown Through June 30 (CNN)
• Chileans Rediscover Community Kitchens As Coronavirus and Hunger Bite (R.)
• Car Rental Giant Hertz Files For Bankruptcy (Solomon)
• This Sucker Is Going Down (Kunstler)
• Argentina Set For Default As Bondholders Reject New Terms (G.)
• FBI Launches Internal Investigation Into Its Handling Of Flynn Case (JTN)
• FBI Opened Russia Probe On Third-Hand ‘Suggestion’ Of Collusion (JTN)

 

 

Global new cases in past 24 hours: 107,743

New cases in:
• US + 23,591
• Russia + 9,434
• Brazil + 21.461
• India + 6,568
• Chile + 4,726

New deaths in past 24 hours:
• US + 1,260 (total deaths 97,655)
• Russia + 139
• Brazil + 1,034
• Spain + 688
• UK +351
• Mexico + 337

 

 

https://twitter.com/SteveGuest/status/1263901535462928386

 

 

 

• Cases 5,326,230 (+ 107,743 from yesterday’s 5,218,496)

• Deaths 340,383 (+ 5,314 from yesterday’s 335,069)

 

 

 

From Worldometer yesterday evening -before their day’s close-

 

 

From Worldometer

 

 

From SCMP:

 

 

From COVID19Info.live:

 

 

 

 

Now that their lockdowns end, the US and UK take measures they should have when they started. The cart and the horse.

How is this not insane? During the lockdowns, US airlines have kept flying everywhere, and people have entered the UK without even being checked (an official policy).

Now that the virus is solidly embedded in the home population, they start acting to prevent it from embedding itself in the population.

• US Grants Tentative OK For 15 Air Carriers To Cut Service To 75 Airports (R.)

The U.S. Transportation Department said late on Friday it had granted tentative approval to 15 airlines to temporarily halt service to 75 U.S. airports because of the coronavirus pandemic. Airlines must maintain minimum service levels in order to receive government assistance but many have petitioned to stop service to airports with low passenger demand. Both United Airlines and Delta Air Lines won tentative approval to halt flights to 11 airports, while JetBlue Airways, Alaska Airlines and Frontier Airlines were approved to stop flights to five airports each. The department said all airports would continue to be served by at least one air carrier.


The Transportation Department said objections to the order can be filed until May 28. U.S. air carriers are collectively burning through more than $10 billion in cash a month as travel demand remains a fraction of prior levels, even though it has rebounded slightly in recent weeks. They have parked more than half of their planes and cut thousands of flights. The department has previously granted airlines waivers to cancel some additional flights and denied others. On May 12, the department said it would allow carriers to halt flights to up to 5% of required destinations.


Getty

Read more …

Millions of travelers since January, and 100,000 air passengers alone from April 1-26, have entered the UK unhindered. No More! We have all the virus we need!

• UK Confirms 14-Day Quarantine Post-Travel (Y!)

The UK government confirmed in a statement that it will put in place a 14-day period of quarantine for anyone that lands on British soil in a bid to prevent the spread of coronavirus. The move, which was announced at the government’s daily press briefing, will be a huge blow for the airline industry that is predicted to lose $314bn this year, according to the latest prediction from the International Air Transport Association (IATA). That number is still 25% more than previously forecasted. This is also due to a 55% drop in 2020 passenger revenue compared with last year.


Home secretary Priti Patel confirmed at the daily coronavirus briefing from Downing Street on Friday that alongside the 14-day quarantine, those under that lockdown could be contacted regularly throughout this period to ensure compliance. “As the world begins to emerge from what we hope is the worst of the coronavirus pandemic, we must look to the future and protect the British public by reducing the risk of cases crossing our border,” she said in a statement. “We are introducing these new measures now to keep the transmission rate down and prevent a devastating second wave. “I fully expect the majority of people will do the right thing and abide by these measures. But we will take enforcement action against the minority of people who endanger the safety of others.”

Read more …

When a ‘pivotal’ study is released on a Friday at 6pm, you know something’s wrong. But we still see headlines today like:

“Gilead’s drug works best in COVID patients on oxygen” and “Anti-viral drug ‘remdesivir’ effective against coronavirus, study finds”.

Remdesivir doesn’t work. It may have a little effect on people who already get oxygen, but that’s it. It doesn’t cure a thing.

There’s a Chinese study out on a drug with the great plus that it hasn’t killed anyone in phase 1 testing.

That is the new standard. All investors should move in! This could be the one!

• Remdesivir Study Finds Mortality Too High For Standalone Treatment (ZH)

… According to a pivotal study published in the New England Journal of Medicine late on Friday, Remdesivir, which was authorized to treat Covid-19 in a group of 1063 adults and children (split into two groups, one receiving placebo instead of remdesivir) who need i) supplemental oxygen, ii) a ventilator or iii) extracorporeal membrane oxygenation (ECMO), only significantly helped those on supplemental oxygen. Meanwhile, and explaining the 6pm release on a Friday, the study also found no marked benefit from remdesivir for those who were healthier and didn’t need oxygen or those who were sicker, requiring a ventilator or a heart-lung bypass machine.

The NEJM, almost apologetically, stated that “the lack of benefit seen in the other groups might have stemmed from a smaller number of patients in each group.” Still, as a result of the partial benefit for patients in the supplemental oxygen group, the study from the National Institute of Allergy and Infectious Diseases was evaluated early and led to the authorization of remdesivir before the full trial was completed. Our findings highlight the need to identify Covid-19 cases and start antiviral treatment before the pulmonary disease progresses to require mechanical ventilation.

A visual representation of the outcomes is below; it shows that whereas there was a modest benefit only to patients who were receiving oxygen, the results were statistically insignificant vs placebo for patients not receiving oxygen, while in a surprising twist patients on high-flow oxygen or mechanical ventilator/ECMO did modestly better in the placebo group than those taking remdesivir. Also, the overall results showed a very modest, but not statistically significant improvement in the remdesivir group vs placebo. [..] Another disappointment: the study found that overall “mortality was numerically lower in the remdesivir group than in the placebo group, but the difference was not significant”, in other words the alleged “miracle drug” has largely the same effect as a placebo in terms of overall disease mortality.

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It looks like advertizing gone wrong.

• NIH Trial: Redesivir Works Best In COVID Patients On Oxygen (R.)

The U.S. National Institutes of Health (NIH) on Friday said that data from its trial of Gilead Sciences Inc’s (GILD.O) remdesivir show that the drug offers the most benefit for COVID-19 patients who need extra oxygen but do not require mechanical ventilation. The peer-reviewed data was published in the New England Journal of Medicine. The trial, for which final results are still trickling in, showed that recovery time for patients given remdesivir was shortened by four days, or 31%, compared to placebo patients. The biggest benefit was seen in patients who were sick enough to need supplemental oxygen, but were not on a ventilator. The data detailed in the journal is similar to early results that the NIH released last month from the study, which began in February with 1,063 participants in 10 countries.


Researchers now calculate that after follow up, 7% of patients given remdesivir will have died, compared with 12% in the placebo group, but they said the difference in the death rate was not significant. “Our findings highlight the need to identify COVID-19 cases and start antiviral treatment before the pulmonary disease progresses to require mechanical ventilation,” the researchers wrote. They noted that “given high mortality despite the use of remdesivir,” it is likely that the antiviral drug would be more effective in combination with other treatments for COVID-19, the respiratory illness caused by the novel coronavirus. Gilead said it expects results from its own study of remdesivir in patients with moderate COVID-19 at the end of this month.

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Chuck Schumer is only interested because he can smear Trump. That the VA employs thousands of doctors makes no difference. They are all wrong.

• US Veterans Agency Has Given HCQ To 1,300 Coronavirus Patients (R.)

The U.S. Department of Veterans Affairs (VA) has treated 1,300 coronavirus patients with the malaria drug hydroxychloroquine, which a study has tied to an increased risk of death, according to a document released by a Senate Democrat on Friday. Senate Democratic Leader Chuck Schumer, who received the information from the VA in response to questions he submitted on the issue, said he was “deeply troubled” by the data. President Donald Trump has long urged use of hydroxychloroquine against coronavirus and recently said he has been taking it himself, despite evidence that the treatment could be harmful.

A study published on Friday in the medical journal Lancet tied the drug to an increased risk of death in hospitalized patients with COVID-19, the disease caused by the novel coronavirus. In April, doctors at VA itself also said hydroxychloroquine did not help COVID-19 patients and might pose a higher risk of death. The VA, which provides care to 9 million veterans, said that about 1,300 coronavirus patients who received the drug are among more than 10,000 COVID-19 patients it has treated.

It has also dispensed hydroxychloroquine to about 7,500 patients with other conditions including rheumatoid arthritis and lupus. The VA said it will continue to dispense the drug under the guidelines of the Food and Drug Administration. In answer to a question from Schumer, the VA said it was not pressured into using hydroxychloroquine by the White House, the Department of Health and Human Services or any other federal agency. “VA, like so many medical facilities across this nation, is in a race to keep patients alive during this pandemic, and we are using as many tools as we can,” the VA told Schumer.

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Sure, younger population. But more than that, no health care systems, no ways to keep track of infected or dead, let alone with what.

Different path alright.

• COVID19 ‘Taking Different Path In Africa’, Says WHO (G.)

There had been apocalyptic forecasts for the potential impact of the coronavirus pandemic in Africa. On Friday evening, after the 100,000th case was reached, the World Health Organization’s Africa office circulated a note saying that it now seemed clear that the pandemic “appears to be taking a different pathway in Africa.” The note continued: Case numbers have not grown at the same exponential rate as in other regions and so far Africa has not experienced the high mortality seen in some parts of the world. Today, there are 3,100 confirmed deaths on the continent. By comparison, when cases reached 100,000 in the WHO European region, deaths stood at more than 4,900.

Early analysis by WHO suggests that Africa’s lower mortality rate may be the result of demography and other possible factors. Africa is the youngest continent demographically with more than 60% of the population under the age of 25. Older adults have a significantly increased risk of developing a severe illness. In Europe nearly 95% of deaths occurred in those older than 60 years. WHO also noted that African governments swiftly imposed restrictive measures on their populations in an attempt to contain the spread of the disease. However, it also said that despite “significant progress in testing”, rates of testing remain low in comparison to other regions.

It insisted that, despite the relatively low number of cases, “the pandemic remains a major threat to the continent’s health systems”. Now that countries are starting to ease their confinement measures, there is a possibility that cases could increase significantly, and it is critical that governments remain vigilant and ready to adjust measures in line with epidemiological data and proper risk assessment.

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Peru has it bad.

• Peruvian President Extends Nationwide Lockdown Through June 30 (CNN)

Peruvian President Martin Vizcarra announced Friday that a national state of emergency, which includes mandatory social isolation measures, will be extended through June 30. He announced that “a national state of emergency is being declared from Monday, May 25 until June 30, including obligatory social isolation, quarantine, due to the grave circumstances that affect the life of the nation due to Covid-19,” according to state news agency Andina. Vizcarra first declared a nationwide state of emergency, which included mandatory self-quarantine and closed the country’s borders, on March 15. With the current extension, Peru will be under a state of emergency for at least three and a half months.

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“On the first night, the word “hunger” was projected onto one of Santiago’s tallest buildings.”

• Chileans Rediscover Community Kitchens As Coronavirus and Hunger Bite (R.)

Poor neighbourhoods in the Chilean capital Santiago have seen a resurgence in the use of community kitchens once prevalent in the darkest days of dictatorship, as coronavirus shutdowns put pressure on jobs and send thousands into poverty. With winter approaching and temperatures chilling, canteen-style operations provide plates of hot food to those with dwindling incomes or nothing at all. They are organized by neighbors, local leaders and councils, who donate money or food. “My people are getting desperate, they have nothing to eat so we asked for help and as always, the people answered,” Sandra Cariz, the president of a community association, told Reuters in the Puente Alto suburb of Santiago on Friday.


The kitchens come alongside a growing number of drives circulating on social media for food, money and clothing donations. Chile has about 62,000 coronavirus cases and 600 deaths. Its economy has taken a hit unlike anything since the 1980s, government officials have said, when almost half of Chileans lived below the poverty line and the country was rocked by protests against Augusto Pinochet’s regime. When the coronavirus hit in March, Chile was just recovering from intense social protests over inequality which included arson attacks and looting. Protests restarted this week, with skirmishes between police and people denouncing the highest job losses in a decade. On the first night, the word “hunger” was projected onto one of Santiago’s tallest buildings.

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Uber.

• Car Rental Giant Hertz Files For Bankruptcy (Solomon)

Hertz Global Holdings on Friday eveing filed for Chapter 11 bankruptcy protection as large debts and 700,000 vehicles mostly idled by the pandemic brought the car rental giant to its knees. The Florida-based company, which listed more than $24 billion in debt, took the action in a Delaware bankruptcy court in an effort to avoid permanent closure and a liquidation of its fleet. The company said it had $1 billion in cash to keep operating on a limited basis while it negotiated with its lenders and vendors. Its financial problems became apparent last month when it missed a round of payments. Hertz is the nation’s second largest car rental agency and boasts the brands Hertz, Dollar, Thrifty, and Firefly.

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“As in any extinction event, it will be the smaller organisms that survive and eventually thrive and that’s how it will go in the next edition of America..”

• This Sucker Is Going Down (Kunstler)

It was only a few decades ago that Walmart entered the pantheon of American icons, joining motherhood, apple pie, and baseball on the highest tier of the altar. The people were entranced by this behemoth cornucopia of unbelievably cheap stuff packaged in gargantuan quantities. It was something like their participation trophy for the sheer luck of being born in this exceptional land, or having valiantly clawed their way in from wretched places near and far – where, increasingly, the mighty stream of magically cheap stuff was manufactured. The evolving psychology of Walmart-ism had a strangely self-destructive aura about it. Like cargo cultists waiting on a jungle mountaintop, small town Americans prayed and importuned the gods of commerce to bring them a Walmart.

Historians of the future, pan-frying ‘possum cutlets over their campfires, will marvel at the potency of their ancestors’ prayers. Every little burg in the USA eventually saw a Walmart UFO land in the cornfield or cow-pasture on the edge of town. Like the space invaders of sci-fi filmdom, Walmart quickly killed off everything else of economic worth around it, and eventually the towns themselves. And that was where things stood as the long emergency commenced in the winter of early 2020, along with the Covid-19 corona virus riding shotgun on the hearse-wagon it rolled in on. We’re in a liminal, transitional moment of history, like beach-goers gawking at the glassy-green curve of a great wave in the throes of breaking. Such mesmerizing beauty!

Alas, most people can’t surf. It looks easy on TV, but you’d be surprised at the conditioning it takes, and Americans are way, way out of condition. (All those tattoos don’t give you an ounce of extra mojo.) And so, in this liminal moment, the people still trudge dutifully to the Walmarts with their dwindling reserves of cash money to get stuff, going through all the devotions that we took for granted before the wave welled up and threatened to break over us. Which is happening. Despite all the fake-heroic blather from the Federal Reserve, from Nancy Pelosi, from Mr. Trump and Mr. Mnuchin – from everybody in charge, to be really fair – and in the immortal words of another recent president — this sucker is going down. Specifically, what’s going down is the aggregate of transactions we call “the economy.”

[..] As in any extinction event, it will be the smaller organisms that survive and eventually thrive and that’s how it will go in the next edition of America, whether we remain states united or find ourselves organized differently. Accordingly, the giants must fall. When the communities of America rebuild, it will be the thousands of small activities that matter, because they will entail the rebuilding of social capital as well as exchanges that amount to business. Social capital is exactly what Walmart and things like it killed in every community from sea to shining sea. People stopped doing business with their neighbors. It took a cataclysm for them to finally notice.

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On average once every decade?!

• Argentina Set For Default As Bondholders Reject New Terms (G.)

Argentina is on course for a technical default on its government borrowing on Friday as the country continues to hold talks with international investors over plans to restructure its debts. Financial investors said they expected the country to miss $500m (£410m) in interest payments on its borrowing, according to the Reuters news agency, as the government tries to renegotiate its borrowing before a 2 June deadline. With the economy in recession even before the coronavirus outbreak and spiralling inflation, Argentina has about $65bn in debt owned by overseas investors, which both the state and its creditors believe is unsustainable. The government has asked bondholders to accept significantly lower interest payments on its debts and to defer payments until 2024. Investors had thus far rejected the terms proposed by president Alberto Fernández’s centre-left government, which came to power late last year.


This month, a group of leading economists including Thomas Piketty and the Nobel prize-winner Joseph Stiglitz urged bondholders to take a constructive approach to restructuring Argentina’s debts. They argued debt relief for the country would be “the only way to combat the pandemic and set the economy on a sustainable path”. A group of international investors – including Ashmore, BlackRock and AllianceBernstein – that hold about $16.7bn of Argentinian bonds said on Friday that they recognised the country was seeking a comprehensive deal, even though failure to pay would trigger a default, Reuters reported. Sarah-Jayne Clifton, director of Jubilee Debt Campaign, said that Argentina was right to demand a deep debt restructuring and to default if lenders did not accept a deal. “Reckless lending at high interest rates helped to create the current crisis, so lenders and speculators should share in the costs,” she said.

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Oh, get serious.

• FBI Launches Internal Investigation Into Its Handling Of Flynn Case (JTN)

FBI Director Christopher Wray on Friday ordered an internal investigation into the bureau’s handling of the Michael Flynn case, just two weeks after the Justice Department declared that it was dropping the case against him and that federal investigators had no standing to interview the general in early 2017. Wray “today ordered the Bureau’s Inspection Division to conduct an after-action review of the Michael Flynn investigation,” the FBI announced on Friday. The Inspection Division essentially functions similarly to an internal affairs office found in lower law enforcement agencies. Fox News reported on Friday that the bureau will seek to identify whether any current FBI officials “engaged in misconduct” during the investigation, as well as whether or not the agency can improve its investigation process moving forward.


The bureau “does not have the ability to take any disciplinary action” against former employees, the FBI’s statement said. Flynn’s plight has received new attention in recent weeks, starting with the stunning Justice Department announcement at the beginning of the month. Following the department’s decision, the judge overseeing the Flynn case, Emmet Sullivan, declined to immediately dismiss it per the recommendation from Justice, instead inviting an amicus curiae brief from retired Judge John Gleeson in support of continuing the case against the general.

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Boy what a sh*tshow.

• FBI Opened Russia Probe On Third-Hand ‘Suggestion’ Of Collusion (JTN)

The FBI’s probe into whether the Trump campaign colluded with Russia was opened on a third-hand “suggestion” of wrongdoing and the thinnest of suspicions that illegal foreign lobbying had occurred, according to a declassified memo released Friday that shows agents immediately flagged the strong limitations of their evidence. The July 31, 2016 electronic communication that officially open the counterintelligence investigation codenamed Crossfire Hurricane was obtained by the conservative watchdog group Judicial Watch. It shows the criminal basis for opening the probe was suspected violations of the Foreign Agent Registration Act, but it did not identify a single episode that it said violated the law.

Rather it focused on a “suggestion” passed on by Australian ambassador Alexander Downer that Trump campaign adviser George Papadopoulos might be coordinating with Russia the release of damaging information about Hillary Clinton. Downer had heard the information about the Russians during a bar conversation in May 2016 from Papadopoulos, who had heard it two months earlier from a European professor who had heard it from Russians allegedly. The memo shows the case agent, Peter Strzok, expressed some doubts and reservations about the limitations of the evidence even as he opened the probe. The memo cited concerns about “suggestions from the Russians that they (the Russians) could assist the Trump campaign with the anonymous release of information during the campaign that would be damaging to Hillary Clinton.”

Papadopoulos “suggested the Trump team had received some kind of suggestion from Russia” that it had damaging information, the memo said. But Strzok’s memo immediately noted the limitations of the allegations forwarded from the Australians. “It was unclear whether he or the Russians were referring to material acquired publicly of through other means. It was also unclear how Mr. Trump’s team reacted to the offer,” the memo stated. Kevin Brock, the former chief of intelligence for the FBI, said the electronic communication did not meet the bureau’s rigorous standards for predicating the opening of a criminal or counterintelligence case. [..] Asked whether as an FBI assistant director he would have approved opening Crossfire Hurricane based on what was in the memo, Brock said: “Not in a millions years. I wouldn’t have approved it as a squad supervisor either. This would have set off alarm bells in any FBI field for not meeting our standards for a predicate.”

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