Jul 302022
 
 July 30, 2022  Posted by at 8:27 am Finance Tagged with: , , , , , , , , , ,  54 Responses »


Claude Monet Impression, sunrise 1872

 

Europe Hypnotized Into War Economy (Vilches)
Russia Claims Ukraine Had A Reason To Kill Its Own POWs (RT)
Russia and Ukraine Trade Blame Over Prison Blast (BBC)
Ukraine and Russia Trade Blame For Attack Killing Mariupol Prisoners (WaPo)
Ukraine Is ‘Shooting Blind’ – Top Official (RT)
A Panicking Biden Administration Seeks Talks With Russia (MoA)
West Prepares To Plunder Post-war Ukraine (MP)
Gazprom Explains Gas Flow Reduction To EU (RT)
American Diplomacy as a Tragic Drama (Michael Hudson)
Playing Chicken with the Fates (Kunstler)
David Lynch Tells ‘Zelensky’ To Have A Beer With Putin (RT)
Trump Warns Something Worse Than Recession Is Coming (ET)
Health Care Workers Settle COVID Shot Mandate for $10.3 Million (Bridle)
Triathlete, 27, Becomes 5th Toronto Area Doctor To Die In July (TSun)
Meta from 5th Most Valuable Stock to 11th In 10 Months. $647 Billion Lost (WS)

 

 

Read at least twice.

 

 

Winter is coming
https://twitter.com/i/status/1552787710187917312

 

 

Share of countries with 6%+ CPI

 

 

Bro Bridle
https://twitter.com/i/status/1552918465312342017

 

 

CannoneerMarine thread

 

 

 

 

 

 

Jorge Vilches has it exactly right. Europe is shedding infrastructure and deals for which they have zero replacement: “without which Europe as we know it will cease to exist.”

Europe Hypnotized Into War Economy (Vilches)

Thirty two years ago Germans enthusiastically took down the Berlin wall. Now, captured by cunning Anglo-Saxon global elites, Germans are helping other European “useful idiots” to erect a much higher and thicker wall to cut themselves off from Russia leading them into a war economy. But as Hungarian Prime Minister Viktor Orbán has warned… “the approach has clearly failed — sanctions have backfired — and our car now has 4 four flat tires” … Question: vehicles don´t carry more than 2 spare tires on them, do they? So, one quick and innocent way to explain such unfathomable European miscalculation is to assume the EU leadership is immersed in a deep hypnotic trance and just blindly following US-UK instructions under Stoltenberg-Johnson war-mongering policies.

The supply lines that up to 2022 successfully linked Europe and Russia took decades of very hard work to develop. This now means that almost all of such over-abundant contracts necessarily have no effective substitute because (a) no other vendors have such high quality at low price plus decades of vetting and proven experience + (b) the un-replaceable short freight distance and shipping time from nearby Russia. So, by definition, both (a) + (b) mean that today no equivalent supply lines could ever be found no matter how much Europe tried simply because it would be either too soon or too far …and always too hard and too pricey. So short cuts will be taken and corners rounded-off…. Been there, done that, got the T-shirt.

The impact of the above cannot be overstated though as the now-broken Euro-Russian supply lines were essential for the Just-In-Time strategy that Europe and world markets still require and cannot wait years to develop and iron out. Logistics 101: proven experience and performance with excellent price plus quick delivery from nearby sources cannot be substituted fast enough, or possibly ever. On purpose, Europe´s worst enemies couldn´t have inflicted worse harm than what a US-UK mesmerized Europe (what else ?) is doing to itself. So EU sanctions are now cutting off dozens of key and highly varied Russian produce without which Europe as we know it will cease to exist. This involves foodstuffs, minerals of every sort, energy re oil & gas & coal & refined products thereof, etc., etc., plus key technologies and products from space rocket engines to nuclear fuels.

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It’s quite simple. If the attack was done with HIMARS, it’s the Ukraine. WaPo fantasizes that Russians transported HIMARS pieces from elsewhere to the crime scene, but Ukraine was shelling this site for months. Only now, they have the HIMARS to do it with.

• Elena Evdokimova @elenaevdokimov7· May 17!!
Ukrainian artillery has been shelling the DPR village of Elenovka with BM-21 Grad. It is the settlement, where the prisoners have been transported from Azovstal. Looks like the deliberate attempt to destroy their own surrendered units.

• Azov POWs are extremely high value assets to Kremlin propagandists. Capturing Azov neo-Nazis & putting them on trial to justify Russia’s invasion has been a top propaganda priority from start. It’d be bizarre for RU to bomb & eliminate their prized pr assets before show trials.

• So they’re really going with the theory that Russia shelled a prison on DPR territory to kill Azov militants whom they could have just as easily publicly hanged to the thunderous applause of virtually everyone in Russia & half of Ukraine?!

Russia Claims Ukraine Had A Reason To Kill Its Own POWs (RT)

Kiev’s forces shelled a detention center holding Ukrainian POWs early Friday morning to “threaten” their own troops who may want to surrender, the Russian Defense Ministry has claimed. “A large number of Ukrainian servicemen are voluntarily laying down their arms, and know about the humane treatment of prisoners by the Russian side,” the ministry said, calling the attack “outrageous.” Authorities in the Donetsk People’s Republic (DPR) said that the death toll in the missile strike has grown to 53, while 75 were wounded. DPR Deputy Information Minister Daniil Bezsonov posted a graphic video on his Telegram channel, which shows multiple mutilated and charred bodies inside the destroyed building. According to Russia’s Defense Ministry and local authorities, Ukrainian troops used US-supplied HIMARS multiple rocket launchers to strike the detention center near the village of Yelenovka.


The ministry said the facility held members of Ukraine’s Azov Battalion, whose fighters surrendered to Russian and Donbass forces during the siege of the Azovstal steel mill in Mariupol. The battalion is notorious because it includes fighters with nationalist and neo-Nazi views. Speaking to Russia’s TV Channel One, DPR head Denis Pushilin claimed that the Ukrainians “deliberately” targeted the detention center in order to kill Azov members who had been providing testimonies about possible war crimes by their commanders. The Ukrainian military released a statement on Friday, accusing Russian troops of shelling Yelenovka. Moscow destroyed the prison in order to pin the blame on Kiev, as well as to “hide the torture of prisoners and executions,”the statement alleged.

HIMARS
https://twitter.com/i/status/1552948606214225920

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“Russia accuses Ukraine of being willing to massacre its own prisoners of war, saying Kyiv insisted that prisoners from the Azov Battalion be housed in this particular warehouse.

Russia and Ukraine Trade Blame Over Prison Blast (BBC)

Russia and Ukraine have blamed each other for a rocket attack that killed dozens of Ukrainian prisoners of war in the occupied part of Donetsk region. Ukraine says the prison was targeted by Russia in an effort to destroy evidence of torture and killing. For its part, Russia said the prison camp in Olenivka was hit by Ukrainian precision rockets. Unverified Russian video footage of the aftermath shows a tangle of wrecked bunk beds and badly charred bodies. An adviser to President Volodymyr Zelensky said the scene looked like arson, and that a missile strike would have scattered the bodies. Those detained are said to have included members of the Azov battalion, who were the last defenders of Mariupol and whom Russia has sought to depict as neo-Nazis and war criminals.


Ukraine’s new Prosecutor-General Andriy Kostin said he had opened a war crimes investigation into the blast. His office added that it believed about 40 people were killed in the strike and 130 were injured. Daniil Bezsonov, a spokesperson for the Russian-backed separatist Donetsk People’s Republic, said the strike had been a “direct hit on a barracks holding prisoners” and the number killed might increase. Russia’s defence ministry said the strike had been carried out with US-made Himars artillery and it accused Ukraine of a “deliberately perpetrated” provocation. The ministry produced fragments of what it said were rockets fired by the Himars system.

HIMARS
https://twitter.com/i/status/1552992046402658311

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I include the BBC and WaPo takes mostly to illustrate how they have manipulated the perceived views.

The neo-nazis are now “the famed Azov Regiment”“whom Russia has sought to depict as neo-Nazis and war criminals.” , and the HIMARS systems “are helping shift the tide of the war in Ukraine’s favor”.

Ukraine and Russia Trade Blame For Attack Killing Mariupol Prisoners (WaPo)

Dozens of Ukrainian prisoners of war from the famed Azov Regiment were killed Friday in a strike against their detention center in the Russian-occupied eastern region of Donbas, but it was unclear how the attack happened or who carried it out. At least 53 POWs were killed and 75 injured in the strike, according to Darya Morozova, an official for the Donetsk People’s Republic, the pro-Russian breakaway region where the prison is located. Ukraine and Russia traded blame for the strike, with each saying the other had carried it out to silence the prisoners. All or most of the POWs were members of the Azov Regiment who had surrendered when Russian troops captured the city of Mariupol in May after a two-month siege. Their fate had been the focus of fraught prisoner-exchange negotiations between Moscow and Kyiv.

Russia’s Defense Ministry accused Ukraine of carrying out the attack using U.S.-supplied HIMARS — High Mobility Artillery Rocket System — launchers, which are helping shift the tide of the war in Ukraine’s favor. The ministry framed the incident as “a bloody provocation” intended to discourage Ukrainian soldiers from surrendering. Russian media commentators suggested that Ukraine hit the detention center to stop the prisoners from providing testimony to interrogators about war crimes committed by Ukrainian forces. Ukraine denied any involvement and accused Russian forces of carrying out the attack, which it called a war crime. Ukraine did not conduct any shelling or artillery strikes Friday in the vicinity of Olenivka, the town where the detention center is located, the General Staff of the Armed Forces of Ukraine said in a post on its Facebook page.

Rather, the General Staff said, it was Russia that staged the attack and used it “to accuse Ukraine of committing war crimes as well as to cover up the torture and execution of prisoners.” Ukrainian Foreign Minister Dmytro Kuleba, in a posting on his Twitter account, called on the world to condemn what he called a “petrifying war crime” and a “brutal violation of international humanitarian law.” Ukrainian officials also questioned whether the incident had been caused by an artillery strike at all. Oleksiy Arestovych, an adviser to Ukrainian President Volodymyr Zelensky, tweeted that explosives specialists who had examined images of the burned-out detention center believe that the destruction may have been caused by an explosion or fire “inside the building itself, rather than the result of shelling.”

Videos of the aftermath of the blast broadcast by Russian media outlets show a tangle of twisted, burned metal bunks inside a blackened warehouse-like structure with a large hole in its roof. Charred bodies and body parts are strewn around the wreckage Russian media outlets also posted photos showing what they claimed were fragments of HIMARS rockets found at the scene. It wasn’t immediately possible to verify that the shards had been fired by HIMARS launchers, but a senior Defense Department official in Washington pointed out that Russia could have gathered them from attacks elsewhere. “The Russians have a lot of pieces of HIMARS. The Ukrainians have been sending a lot of HIMARS their way,” said the official, speaking on the condition of anonymity to brief the media. He cautioned against reaching any conclusions on the limited information available.

Yelenovka

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“..Kiev needed about 50 HIMARS for effective defense, and a least 100 for “an effective counteroffensive.”

Ukraine Is ‘Shooting Blind’ – Top Official (RT)

US-made HIMARS are “a good first step,” but Kiev needs the means to take accurate shots, a senior Ukrainian official has said The deliveries of US-made HIMARS rocket systems are “a good first step”, but the West did not provide Kiev with the necessary technologies to accurately hit targets, a high-ranking Ukrainian official complained in an interview published on Thursday. “HIMARS and heavy artillery are a good first step, but if we do not have the technology to find and correct targets for artillery strikes, then we’re just shooting blind,” Anton Gerashchenko, an adviser at the Ukrainian Ministry of Internal Affairs, told Newsweek magazine.

Earlier this month, Vadim Skibitskiy, a spokesman for Ukraine’s Directorate of Intelligence at the Ministry of Defense, claimed that Kiev views the Crimean Peninsula as a legitimate target for long-range weaponry, including US-made M142 HIMARS and M270 MLRS, supplied by Western powers. His words were echoed by Alexey Arestovich, a top aide to President Vladimir Zelensky, who said that the Ukrainian military would target the Crimean Bridge as soon as Kiev obtains the capability to carry out such a strike. Russia pushed back on these threats, with Mikhail Sheremet, an MP who represents the region in the Russian parliament, warning Kiev that retaliation will be so harsh that Ukraine will never be able to recover from it. In his telling, the would-be strike will be followed by “a crushing blow to decision-making centers in Kiev, military infrastructure and arms-supply logistics channels.”

[..] On Friday, Russia’s Ministry of Defense and DPR authorities accused Kiev of having used HIMARS to target a prison holding POWs, killing 53 and wounding scores more. Ukraine rejected the claim and pinned the blame on Russian troops. According to the Pentagon, as of July 22, the US has provided Ukraine with 16 M142 HIMARS systems, while the UK has provided another three launchers capable of firing the same munitions. Earlier this month, Ukrainian Defense Minister Alexey Reznikov said that Kiev needed about 50 HIMARS for effective defense, and a least 100 for “an effective counteroffensive.”

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“..Foreign Minister Sergey V. Lavrov was too busy to talk with Mr. Blinken now.”

They did talk yesterday. But Blinken is not very important.

A Panicking Biden Administration Seeks Talks With Russia (MoA)

The New York Times reports of a potential prisoner swap between the U.S. and Russia: “[T]he Biden administration has proposed trading the merchant of death for the imprisoned basketball player as well as a former marine held in Russia on what are considered trumped-up espionage charges. In the harsh and cynical world of international diplomacy, prisoner exchanges are rarely pretty, but unpalatable choices are often the only choices on the table. Whether the swap would go through remained unclear. Secretary of State Antony J. Blinken made the offer public in part to reassure the families of Brittney Griner, the basketball player, and Paul N. Whelan, the former marine, that the administration is doing all it can to free them. Russian officials, who have long sought the release of the arms trafficker Viktor Bout, confirmed the discussion on Thursday but said Foreign Minister Sergey V. Lavrov was too busy to talk with Mr. Blinken now.”

Typically prisoner swaps are not talked about publicly before they happen: “Some veteran hostage negotiators were perplexed that Mr. Blinken made the offer public. “It is baffling why the U.S. would announce this proposal in the midst of the negotiations,” said Rob Saale, the former head of the F.B.I.-led Hostage Recovery Fusion Cell. “If you’re in sensitive negotiations why would you want to air this out publicly? It makes me wonder if the Russians haven’t already declined the deal.” Mr. Saale suspicion was justified as the Washington Post now reports:

“The Biden administration disclosed publicly that the United States had made “a substantial offer” to Russia to secure the release of two American prisoners because closed-door negotiations had stalled, an administration official said Thursday. The administration hopes public pressure will lead Moscow to engage in negotiations resulting in basketball star Brittney Griner and security consultant Paul Whelan being released from Russian prison, the official said, speaking on the condition of anonymity to discuss sensitive deliberations. U.S. officials say they have tried for weeks to broker the releases of Griner and Whelan. But the lack of progress, and the prospect of Griner soon facing conviction and sentencing on drug charges, prompted the administration this week to make the negotiations public.”

I do not understand why the administration had started such negotiations even before the Griner court case has been closed. In general such prisoners will only be pardoned and released to the other side after they have been sentenced. Anything else would raise accusations of executive interference in the judicial process. The Brittney Griner case, over admitted smuggling of cannabis oil, is still in court. The Russian government will obviously refrain from doing anything about her before the judicial process has ended. One suspects that the prisoner exchange is much more about Paul Whelan, who likely is a CIA asset.

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They’ll have to settle for what Russia leaves them. And that’s not what they counted on.

West Prepares To Plunder Post-war Ukraine (MP)

While the United States and Europe flood Ukraine with tens of billions of dollars of weapons, using it as an anti-Russian proxy and pouring fuel on the fire of a brutal war that is devastating the country, they are also making plans to essentially plunder its post-war economy. Representatives of Western governments and corporations met in Switzerland this July to plan a series of harsh neoliberal policies to impose on post-war Ukraine, calling to cut labor laws, “open markets,” drop tariffs, deregulate industries, and “sell state-owned enterprises to private investors.” Ukraine has been destabilized by violence since 2014, when a US-sponsored coup d’etat overthrew its democratically elected government, setting off a civil war. That conflict dragged on until February 24, 2022, when Russia invaded the country, escalating into a new, even deadlier phase of the war.

The United States and European Union have sought to erase the history of foreign-sponsored civil war in Ukraine from 2014 to early 2022, acting as though the conflict began on February 24. But Washington had sent large sums of weapons to Ukraine and provided extensive military training and support over several years before Russia invaded. Meanwhile, starting in 2017, representatives of Western governments and corporations quietly held annual conferences in which they discussed ways to profit from the civil war they were fueling in Ukraine. In these meetings, Western political and business leaders outlined a series of aggressive right-wing reforms they hoped to impose on Ukraine, including widespread privatization of state-owned industries and deregulation of the economy.

On July 4 and 5, 2022, top officials from the US, EU, Britain, Japan, and South Korea met in Switzerland for a so-called “Ukraine Recovery Conference.” There, they planned Ukraine’s post-war reconstruction and performatively announced aid commitments – while salivating over a bonanza of potential contracts. New NATO candidates Finland and Sweden committed to assure reconstruction in Lugansk, roughly 48 hours after Russia and separatist forces announced the region had fallen fully under their control. But the Ukraine Recovery Conference was not new. It had been renamed to save the expense of a new acronym. In the previous five years, the group and its annual meetings were instead referred to as the “Ukraine Reform Conference” (URC).

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Siemens has eliminated no more than a quarter of the identified malfunctions at the Nord Stream turbines. Correspondence regarding the repair of engines will be made public via media.
– Deputy Chairman of Gazprom Markelov

Gazprom Explains Gas Flow Reduction To EU (RT)

Gazprom has published some of its correspondence with Siemens as it blames the German company for a reduction in gas flow Russia had to reduce its gas flow to Europe through the Nord Stream 1 pipeline due to turbine malfunctions, Gazprom Deputy Chief Executive Vitaly Markelov said on Friday. The issues are due to Germany’s Siemens company – which produces the turbines – failing to fulfill its commitments, he told the Rossiya 24 TV Channel.
Siemens has so far eliminated only one-fourth of the total number of discovered malfunctions affecting its turbines, Markelov said. On Wednesday, the Nord Stream 1 operator Gascade reported that gas flow through the pipeline had been reduced to one-fifth of its maximum capacity. A day before that, Gazprom warned that it would have to stop the operation of its second Siemens turbine for an overhaul.

After the switch-off, gas flow through Nord Stream 1 was not expected to exceed 33 million cubic meters per day. The move came as the energy giant was still waiting for another turbine for the pipeline that was due to arrive from Germany after undergoing maintenance in Canada. “Our European partners accuse us of reducing gas supply to Europe without sufficient reasons. Yet, nothing can be further from the truth,”Markelov said, adding that it was the company’s Western partners who “fail to fulfill their obligations – contractual obligations – for the compressor station maintenance.” According to an earlier report by business daily Kommersant, several turbines at the Portovaya compressor station located on Russia’s Baltic coast are in need of servicing.

The current licensing agreement allows Siemens Energy to accept five more turbines for maintenance work before the end of 2024. “We call on our partners to resolve their own issues as soon as possible,” the deputy CEO said, adding that the gas supply to Europe would then “go back to normal in no time.”Markelov added that his company planned to release part of its correspondence with its Western partners to the public. Some documents were published hours later. The reduction of supply from Russia has led to a spike in gas prices in Europe, which rose by more than 20% to over $2,500 per thousand cubic meters on Wednesday. European leaders then blamed Russia for the gas price hikes.

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“What is euphemized as U.S.-style democracy is a financial oligarchy privatizing basic infrastructure, health and education.”

American Diplomacy as a Tragic Drama (Michael Hudson)

As in a Greek tragedy whose protagonist brings about precisely the fate that he has sought to avoid, the US/NATO confrontation with Russia in Ukraine is achieving just the opposite of America’s aim of preventing China, Russia and their allies from acting independently of U.S. control over their trade and investment policy. Naming China as America’s main long-term adversary, the Biden Administration’s plan was to split Russia away from China and then cripple China’s own military and economic viability. But the effect of American diplomacy has been to drive Russia and China together, joining with Iran, India and other allies. For the first time since the Bandung Conference of Non-Aligned Nations in 1955, a critical mass is able to be mutually self-sufficient to start the process of achieving independence from Dollar Diplomacy.

Confronted with China’s industrial prosperity based on self-financed public investment in socialized markets, U.S. officials acknowledge that resolving this fight will take a number of decades to play out. Arming a proxy Ukrainian regime is merely an opening move in turning Cold War 2 (and potentially/or indeed World War III) into a fight to divide the world into allies and enemies with regard to whether governments or the financial sector will plan the world economy and society. What is euphemized as U.S.-style democracy is a financial oligarchy privatizing basic infrastructure, health and education. The alternative is what President Biden calls autocracy, a hostile label for governments strong enough to block a global rent-seeking oligarchy from taking control. China is deemed autocratic for providing basic needs at subsidized prices instead of charging whatever the market can bear.

Making its mixed economy lower-cost is called “market manipulation,” as if that is a bad thing that was not done by the United States, Germany and every other industrial nation during their economic takeoff in the 19th and early 20th century. Clausewitz popularized the axiom that war is an extension of national interests – mainly economic. The United States views its economic interest to lie in seeking to spread its neoliberal ideology globally. The evangelistic aim is to financialize and privatize economies by shifting planning away from national governments to a cosmopolitan financial sector. There would be little need for politics in such a world. Economic planning would shift from political capitals to financial centers, from Washington to Wall Street, with satellites in the City of London, the Paris Bourse, Frankfurt and Tokyo.

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“Turns out that Agent Brian Auten was also involved in favorably vetting the Steele Dossier when it was used to justify FISA court warrant..”

Playing Chicken with the Fates (Kunstler)

How is it that the Hunter Biden laptop, stuffed with incriminating memoranda of bribery, treason, and diverse felonies, and in the FBI’s possession for two-and-a-half years now, just sat gathering dust in some sub-sub-basement cubby-hole — while “Joe Biden,” the putative president (or, more likely, the enigmatic claque behind him) was allowed to carry out a demolition of America’s economy and culture? The answer is one Brian Auten, FBI Senior Analyst, who engineered a scheme to label Hunter’s laptop “Russian disinformation,” which allowed FBI Director Christopher Wray to throw a switch that turned off any further inquiry in the matter beginning in August before the 2020 presidential election.


In turn, other senior FBI officials had all the documents pertaining to the decision process on that matter locked up in a special file that would never see the light of day. Auten’s action led to the release of a letter signed by “fifty former intelligence officials” labeling the laptop as a Russian disinfo op — which became the basis for social media to conspire to censor any discussion of the laptop and its contents. And so it was that a political puppet deeply in the pay of foreign interests got shoehorned into the White House. Well, that and widespread election fraud. Turns out that Agent Brian Auten was also involved in favorably vetting the Steele Dossier when it was used to justify FISA court warrants against figures in Mr. Trump’s 2016 campaign, part of the RussiaGate operation that disordered and disabled President Trump’s entire four-year term. Well now you know. Perhaps Special Counsel John Durham knows this, too. (If he didn’t before, he must now.)

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Lynch is not as crazy as Stephen King.

David Lynch Tells ‘Zelensky’ To Have A Beer With Putin (RT)

Ukrainian president Vladimir Zelensky should have a beer with his Russian counterpart Putin and talk peace, American filmmaker David Lynch insisted in an “interview” with Russian pranksters Vovan and Lexus. The first fragment of the interview was published on the Russian video hosting website RuTube on Thursday, while the full-length version is expected to be released in the coming days.= Speaking to whom he thought was the Ukrainian leader, the Twin Peaks director insisted that the only way to end the ongoing military conflict between Russia and Ukraine was through peace. Lynch said it was his “job”to inform Zelensky about “technologies” that exist for achieving a lasting peace and that these methods were far more effective than “war and murder,” referring to letters he had previously sent to the Ukrainian president.

“Now is the time for peace, and the technology to achieve true peace exists. You need to use them and form such groups of experts on a peaceful settlement in the interests of Ukraine,”he noted. Vovan and Lexus, posing as Zelensky, asked the filmmaker whether he thought there should be direct talks with Putin in the interest of reaching peace, to which Lynch emphatically replied “Yes!”, stressing that there were a number of ways to do so, such as an ordinary telephone call or a virtual dinner with a couple of beers. Lynch insisted that during the conversation over beer and dinner the two presidents could come to a mutual realization that they are both human beings and would be able to discuss the problems between their countries.

“Think peace, think friendship” urged the filmmaker, calling on Zelensky to “stop” the current crisis, talk to Putin, and think about how to get along and help each other. The conversation with Lynch comes a week after the duo’s prank with American horror writer Stephen King, whom they also tricked into believing he was talking with Zelensky. During the call, King praised WWII-era Nazi collaborator and war criminal Stepan Bandera as a “great man” and compared him to US founding fathers Washington and Jefferson. The writer later admitted that he was pranked and claimed that he didn’t actually know who Bandera was or what he had done.

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Depression.

Trump Warns Something Worse Than Recession Is Coming (ET)

Former President Donald Trump has warned that America’s economy is on track for a bigger disaster than a recession, with his remarks coming shortly before government statistics showed GDP printing negative for the second consecutive quarter, which is a rule-of-thumb definition for a recession. “Where we’re going now could be a very bad place,” Trump said at a rally in Arizona last week. “We got to get this act in order, we have to get this country going, or we’re going to have a serious problem.” The former president singled out the collapse in Americans’ real wages, a historically depressed labor force participation rate, and the Democrat push for the Green New Deal that he said would crush economic growth.

“Not recession. Recession’s a nice word. We’re going to have a much bigger problem than recession. We’ll have a depression,” the former president said. Trump’s remarks came several days before the Bureau of Economic Analysis (BEA) released data showing that real U.S. GDP fell by an annualized 0.9 percent in the second quarter after contracting 1.6 percent in the first quarter. Two consecutive quarters of negative GDP growth are a common rule-of-thumb definition for a recession, although recessions in the United States are officially declared by a committee of economists at the National Bureau of Economic Research (NBER) using a broader definition than the two-quarter rule.

[..] In his remarks, Trump also took aim at President Joe Biden’s handling of the economy, blaming him for soaring inflation. “Biden created the worst inflation in 47 years. We’re at 9.1 percent, but the actual number is much, much higher than that,” Trump said. While the former president didn’t provide his own estimate for the true rate of inflation, an alternative CPI inflation gauge developed by economist John Williams, calculated according to the same methodology used by the U.S. government in the 1980s, puts the figure at 17.3 percent, a 75-year high. Trump also said that persistently high inflation combined with an economic slowdown has put the country “on the verge of a devastating” spell of stagflation, which is a combination of accelerating prices and slowing economic growth.

Inflation is “going higher and higher all the time,” Trump said, adding that it’s “costing families nearly $6,000 a year, bigger than any tax increase ever proposed other than the tax increase that they want to propose right now.” In Trump’s first full month in office in February 2017, the headline Consumer Price Index (CPI) inflation gauge came in at 2.8 percent in annual terms. While the CPI measure fluctuated during his tenure, the highest it ever reached was 2.9 percent in July 2018, while in his final month in office, January 2021, inflation clocked in at 1.4 percent. Under Biden, inflation has climbed steadily, soaring 9.1 percent year-over-year in June 2022, a figure not seen in more than 40 years.

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$25,000 each. Hmm. Still, this may spread like wildfirre.

Health Care Workers Settle COVID Shot Mandate for $10.3 Million (Bridle)

Today, Liberty Counsel settled the nation’s first classwide lawsuit for health care workers over a COVID shot mandate, for more than $10.3 million. The class action settlement against NorthShore University HealthSystem is on behalf of more than 500 current and former health care workers who were unlawfully discriminated against and denied religious exemptions from the COVID shot mandate. The agreed upon settlement was filed today in the federal Northern District Court of Illinois. As a result of the settlement, NorthShore will pay $10,337,500 to compensate these health care employees who were victims of religious discrimination, and who were punished for their religious beliefs against taking an injection associated with aborted fetal cells.

This is a historic, first-of-its-kind class action settlement against a private employer who unlawfully denied hundreds of religious exemption requests to COVID-19 shots. The settlement must be approved by the federal District Court. Employees of NorthShore who were denied religious exemptions will receive notice of the settlement, and will have an opportunity to comment, object, request to opt out, or submit a claim form for payment out of the settlement fund, all in accordance with deadlines that will be set by the court. As part of the settlement agreement, NorthShore will also change its unlawful “no religious accommodations” policy to make it consistent with the law, and to provide religious accommodations in every position across its numerous facilities. No position in any NorthShore facility will be considered off limits to unvaccinated employees with approved religious exemptions.

In addition, employees who were terminated because of their religious refusal of the COVID shots will be eligible for rehire if they apply within 90 days of final settlement approval by the court, and they will retain their previous seniority level. The amount of individual payments from the settlement fund will depend on how many valid and timely claim forms are submitted during the claims process. If the settlement is approved by the court and all or nearly all of the affected employees file valid and timely claims, it is estimated that employees who were terminated or resigned because of their religious refusal of a COVID shot will receive approximately $25,000 each, and employees to were forced to accept a COVID shot against their religious beliefs to keep their jobs will receive approximately $3,000 each.

The 13 health care workers who are lead plaintiffs in the lawsuit will receive an additional approximate payment of $20,000 each for their important role in bringing this lawsuit and representing the class of NorthShore health care workers. Liberty Counsel will receive 20 percent of the settlement sum, which equals $2,061,500, as payment for the significant attorney’s fees and costs it has required to undertake to sue NorthShore and hold it accountable for its actions. This amount is far less than the typical 33 percent usually requested by attorneys in class action litigation.

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Not sure if No. 6 is also from Toronto.

“In all four cases, their hospitals made it clear their deaths “were not related to the COVID-19 vaccine.” Made it clear how? Where are the autopsies?

Triathlete, 27, Becomes 5th Toronto Area Doctor To Die In July (TSun)

The fifth GTA doctor to die in July “radiated positivity” and “lived a vibrant and active life.” But what the world lost in the sudden and tragic death of Dr. Candace Nayman was a woman who had dedicated her life to the health of children. The 27-year-old, who was a resident doctor at McMaster Children Hospital in Hamilton, collapsed while swimming as she competed in a triathlon on Sunday. She subsequently died on Thursday. Friends kept an around-the-clock prayer vigil for the much-loved Nayman who lost her fight and, at her request, had her organs donated to help others.She was “the loving daughter of Nicole and Gary, and the sister of Lauren, her twin, and Maurice, as well as partner to Seth Kadish,” reads an obituary on the Benjamin’s Park Memorial Chapel.

A triathlete, Dr. Nayman routinely commented on social media about her love of training and racing. “Candace Brooke Nayman passed away Thursday, July 28, 2022 competing and doing what she loved,” her obituary states. Family, friends and peers gathered Thursday for her funeral, which has not only shaken her family but rocked the already shaken medicine fraternity. “Everyone in the pediatrics department here at McMaster University and McMaster Children’s Hospital is devastated by the loss of Dr. Candace Nayman.” said Dr. Angelo Mikrogianakis, the chief of pediatrics at Hamilton Health Sciences’ McMaster Children’s Hospital and St. Joseph’s Healthcare Hamilton. “Candace was an aspiring pediatrician who exemplified hard work, radiated positivity, lived a vibrant and active life, and had a positive impact on her fellow residents, colleagues, faculty and patients.”


[..] Four other local doctors have died this summer. Trillium Partners staff physicians Dr. Jakub Sawicki, Dr. Stephen McKenzie and Dr. Lorne Segall died last week, just days after the tragic death of North York General Hospital’s Dr. Paul Hannam, an Olympian who died during a run at 50 years old. In all four cases, their hospitals made it clear their deaths “were not related to the COVID-19 vaccine.”

6 Canadian doctors

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Zuckerbucks.

Meta from 5th Most Valuable Stock to 11th In 10 Months. $647 Billion Lost (WS)

Despite the rally on Friday, the shares of Meta Platforms lost more ground, falling 1.0% to $159.10 at the close, and more after-hours, same price where the shares had first been on July 13, 2017. Five years of nothing, with an exciting roller-coaster-ride in between. Four years and two months up, 10 months down. Since the peak in September 2021, the shares have plunged 59%. Meta still doesn’t qualify for my growing list of Imploded Stocks, for which the minimum requirement is a 70% plunge from the peak, but it’s working hard to get there (data via YCharts):

The market value plunged from $1.077 trillion in September to $431 billion today. So, $647 billion have vanished in 10 months. This is no biggie obviously because people who bought the shares at the IPO for $38, and thereby participated in the biggest tech IPO in US history at the time, still made 318% at today’s price, and the shares could fall another 50%, and they’d still make a ton of money. Those who bought in 2021, OK, win some, lose some. And this dump in market cap caused something else to happen over the past two days: While other stocks surged, Meta fell out of the top 10 most valuable companies in the US, into 11th place, behind Visa (data via YCharts):

Back in September 2021, Meta, with a market cap of $1.077 trillion, was the fifth most valuable stock by market cap in the US. Easy come, easy go (data via YCharts):

Despite the summer rally, the Nasdaq composite is still down 23.6% from the peak in November, and lots of stocks slid, skidded, and plunged, and this re-arranged the deck a little among the top 11, but left the top four in the same position. There are a host of reasons for Meta’s plunge, including that the shares should have never shot up in this crazy manner in the first place. But hey, this was the pandemic, the Fed was printing money hand over fist, the Fed’s interest rates were near 0% even as inflation had begun to rage, and nothing mattered, everything shot higher. To the moon!

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Tamara Lich

 

 

Dutch farmer

 

 

Holland

 

 

It would be good if the farmers, or someone else, can keep the WEF forum out of Holland.

 

 

 

 

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

 

 

 

Sep 212019
 
 September 21, 2019  Posted by at 9:03 am Finance Tagged with: , , , , , , , , , , , ,  9 Responses »


Paul Gauguin The Seine in Paris 1875

 

United States Sending Troops To Bolster Saudi Defenses After Attack (R.)
Trump Says He’s Sanctioning Iran’s National Bank (Hill)
Trump Derides MSM Over Biden-Ukraine Story: You’re Gonna Look Really Bad (ZH)
In Call, Trump Urged Ukraine President 8x To Investigate Biden’s Son (CNBC)
WaPo Reports No “Quid Pro Quo” Offered During Phone Call (ZH)
Missing Piece to the Ukraine Puzzle (Solomon)
Is WeWork a Fraud? (Hawksberry)
‘The Men Who Plundered Europe’: Bankers On Trial For Siphoning €60bn (G.)
Desperate Central Bankers Grab for More Power (Brown)
Hopes For Trade Breakthrough Fade As China Cancels US Farm Visits (R.)
President of the Selfies (Kunstler)
France Rejects Edward Snowden’s Asylum Request, Fears Major Fallout With US (ZH)
Julian Assange: Justice Denied (Sagir)

 

 

This Reuters journalist unexpectedly gets it just right: “The Pentagon’s late Friday announcement appeared to close the door to any imminent decision to wage retaliatory strikes against Iran following the attack..”

United States Sending Troops To Bolster Saudi Defenses After Attack (R.)

U.S. President Donald Trump on Friday approved sending American troops to bolster Saudi Arabia’s air and missile defenses after the largest-ever attack on the kingdom’s oil facilities, which Washington has squarely blamed on Iran. The Pentagon said the deployment would involve a moderate number of troops – not numbering thousands – and would be primarily defensive in nature. It also detailed plans to expedite delivery of military equipment to both Saudi Arabia and the United Arab Emirates. Reuters has previously reported that the Pentagon was considering sending anti-missile batteries, drones and more fighter jets. The United States is also considering keeping an aircraft carrier in the region indefinitely.

“In response to the kingdom’s request, the president has approved the deployment of U.S. forces, which will be defensive in nature and primarily focused on air and missile defense,” U.S. Defense Secretary Mark Esper said at a news briefing. “We will also work to accelerate the delivery of military equipment to the kingdom of Saudi Arabia and the UAE to enhance their ability to defend themselves.” The Pentagon’s late Friday announcement appeared to close the door to any imminent decision to wage retaliatory strikes against Iran following the attack, which rattled global markets and exposed major gaps in Saudi Arabia’s air defenses.

Trump said earlier on Friday that he believed his military restraint so far showed “strength,” as he instead imposed another round of economic sanctions on Tehran. “Because the easiest thing I could do, ‘Okay, go ahead. Knock out 15 different major things in Iran.’ … But I’m not looking to do that if I can,” Trump told reporters at the White House.

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Jim Rickards’s comment on Twitter: “Trump just sanctioned the central bank of Iran (Bank Markazi). If you’re not a banking expert and want to understand the impact, it’s like turning off the oxygen of a patient in intensive care. The result is predictable.”

Trump Says He’s Sanctioning Iran’s National Bank (Hill)

President Trump announced Friday that he had sanctioned Iran’s national bank, calling them the “highest sanctions ever imposed on a country.” Trump made the comments to reporters during an Oval Office meeting with Australian Prime Minister Scott Morrison. The announcement comes two days after Trump said he had instructed the Treasury Department to increase sanctions on Iran following attacks on two oil facilities in Saudi Arabia. The Trump administration has blamed Iran in the attacks, which took out roughly 5 percent of the global oil supply on Saturday. “These are the highest sanctions ever imposed on a country, we’ve never done it to this level. It’s too bad what’s happening with Iran, it’s going to hell,” Trump told reporters, saying Tehran is “practically broke.”


The Treasury Department said in a statement that it was sanctioning Iran’s central bank, Iran’s national development fund and Etemad Tejarate Pars Co., an Iran-based firm that U.S. officials said is used to conceal financial transfers for purchases by Iran’s defense ministry. Treasury Secretary Steven Mnuchin joined Trump briefly in the Oval Office to announce the new sanctions on Friday. “We are continuing the maximum pressure campaign,” Mnuchin said. “This will mean no more funds going to the [Islamic Revolutionary Guards Corps] or to fund terror, and this is on top of our oil sanctions and our financial institution sanctions.” “The easiest thing I can do, OK go ahead, knock down 15 major things in Iran,” Trump told reporters in the Oval Office. “I could do that and it’s all set to go. But I’m not looking at doing that if I can.”

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“So keep playing it out because you’re gonna look really bad when it falls, and I guess I’m about 22 and 0 and I’ll keep it that way… ”

Trump Derides MSM Over Biden-Ukraine Story: You’re Gonna Look Really Bad (ZH)

A very smug President Trump brushed aside questions over a whistleblower complaint which reportedly involves promises made to Ukraine in exchange for an investigation into former Vice President Joe Biden. Calling the story “ridiculous” and describing the whistleblower as partisan, Trump said that it “doesn’t matter what I discussed,” adding “but I’ll tell you this, somebody ought to look into Joe Biden’s statement where He talked about billions of dollars that he’s not giving to a certain country unless a certain prosecutor is taken off the case. So, somebody ought to look into that and you wouldn’t because he’s a Democrat. And the fake news doesn’t look into things like that, it’s a disgrace.”

Trump was of course referring to a 2018 incident where Biden openly bragged about strongarming Ukraine into firing their top prosecutor, who was leading a wide-ranging corruption investigation into a natural gas firm whose board Hunter Biden sat on. Continuing on, Trump told reporters: “It was a totally appropriate conversation – it was actually a beautiful conversation.” Trump then warned the press they’re barking up the wrong tree after a “very bad week” in which the New York Times was forced to issue a major correction to an article about alleged sexual misconduct by Supreme Court Justice Brett Kavanaugh, after the two journalists who wrote it failed to include evidence from their own anti-Kavanaugh book which significantly undercut their argument.

“You know the press has had a very bad week with Justice Kavanaugh and all those ridiculous charges, and all of the mistakes made at the New York Times and other places,” said Trum, adding: “You’ve had a very bad week, and this will be better than all of ’em, this is another one. So keep playing it out because you’re gonna look really bad when it falls, and I guess I’m about 22 and 0 and I’ll keep it that way. “…keep asking questions and building it up as big as possible so you can have a bigger downfall.”

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A top Ukrainne offical makes really silly statements: “Clearly, Trump is now looking for kompromat to discredit his opponent Biden, to take revenge for his friend Paul Manafort”..

In Call, Trump Urged Ukraine President 8x To Investigate Biden’s Son (CNBC)

President Donald Trump repeatedly urged Ukraine’s president during a telephone call in July to investigate former Vice President Joe Biden’s son Hunter and his involvement with a Ukraine natural gas company, a new report says. The Wall Street Journal reported that Trump encouraged Ukraine President Volodymyr Zelensky “about eight times to work with Rudy Giuliani, his personal lawyer, on a probe, according to people familiar with the matter.” Biden is the current front-runner in the race to win the Democratic presidential nomination and face the Republican nominee, expected to be Trump, in the 2020 election.

Biden on Friday, when asked about Trump’s claims about him and his son, said, “Not one single credible outlet has given any credibility to his assertions. Not one single one. So I have no comment except the president should start to … be president.” [..] The Journal’s new report came as a top Ukraine official reportedly said that Trump “is looking” for Ukraine officials to investigate business dealings of Biden’s son in that country in an effort “to discredit” Biden as he seeks the Democratic presidential nomination.

The official, Anton Geraschenko, told The Daily Beast that Ukraine is ready to investigate Hunter Biden’s relationship with the Ukraine gas company “as soon as there is an official request.” But, he added, “Currently there is no open investigation.” Geraschenko is a senior advisor to Ukraine’s interior minister, who would be in charge of any investigation of Hunter Biden. “Clearly, Trump is now looking for kompromat to discredit his opponent Biden, to take revenge for his friend Paul Manafort, who is serving seven years in prison,” Geraschenko told The Daily Beast.

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Does this settle the ‘dispute’?

WaPo Reports No “Quid Pro Quo” Offered During Phone Call (ZH)

The latest ‘smoking gun’ Democrats have been clinging to in search of that ever-elusive Trump impeachment may have just imploded – after the Washington Post quietly reported on Friday evening that a July 25 phone call between President Trump and Ukrainian President Volodymyr Zelensky did not contain an explicit quid pro quo if Ukraine launched an investigation into former Vice President Joe Biden’s son as initially reported. While President Trump did reportedly “pressure the recently elected leader to more aggressively pursue” the investigation, “Trump did not raise the issue of American military and intelligence aid that had been pledged to Ukraine, indicating there was not an explicit quid pro quo in that call.”

Of course, it has been reported that there were multiple calls – however one might think that the Washington Post’s super high-level anonymous government source would have access to the others as well, and ostensibly would have leaked the most damaging information available. [..] “The revelation that Trump pushed Zelensky to pursue the Biden probe, which was first reported by the Wall Street Journal, represents the most detailed account so far of the president’s conduct that prompted a U.S. intelligence official to file a whistleblower action against the president.” -Washington Post

So – the current US president asked Ukraine to conduct a legal investigation into the former US Vice President, who openly bragged about withholding $1 billion in US loan guarantees unless they fired the guy investigating his son and his son’s company – and there was no quid pro quo offered in exchange for that investigation – at least not on that phone call.

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Giuliani didn’t go looking, the Ukraine did.

Missing Piece to the Ukraine Puzzle (Solomon)

The coverage suggests Giuliani reached out to new Ukrainian President Volodymyr Zelensky’s team this summer solely because he wanted to get dirt on possible Trump 2020 challenger Joe Biden and his son Hunter’s business dealings in that country. Politics or law could have been part of Giuliani’s motive, and neither would be illegal. But there is a missing part of the story that the American public needs in order to assess what really happened: Giuliani’s contact with Zelensky adviser and attorney Andrei Yermak this summer was encouraged and facilitated by the U.S. State Department. Giuliani didn’t initiate it. A senior U.S. diplomat contacted him in July and asked for permission to connect Yermak with him.

[..] Why would Ukraine want to talk to Giuliani, and why would the State Department be involved in facilitating it? According to interviews with more than a dozen Ukrainian and U.S. officials, Ukraine’s government under recently departed President Petro Poroshenko and, now, Zelensky has been trying since summer 2018 to hand over evidence about the conduct of Americans they believe might be involved in violations of U.S. law during the Obama years . The Ukrainians say their efforts to get their allegations to U.S. authorities were thwarted first by the U.S. embassy in Kiev, which failed to issue timely visas allowing them to visit America. Then the Ukrainians hired a former U.S. attorney — not Giuliani — to hand-deliver the evidence of wrongdoing to the U.S. Attorney’s Office in New York, but the federal prosecutors never responded.

The U.S. attorney, a respected American, confirmed the Ukrainians’ story to me. The allegations that Ukrainian officials wanted to pass on involved both efforts by the Democratic National Committee to pressure Ukraine to meddle in the 2016 U.S. election as well as Joe Biden’s son’s effort to make money in Ukraine while the former vice president managed U.S.-Ukraine relations, the retired U.S. attorney told me. Eventually, Giuliani in November 2018 got wind of the Ukrainian allegations and started to investigate. [..] Ukrainian officials also are discussing privately the possibility of creating a parliamentary committee to assemble the evidence and formally send it to the U.S. Congress, after failed attempts to get the Department of Justice’s attention, my sources say.

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Now, THIS is a take-down. Read the whole thing.

Is WeWork a Fraud? (Hawksberry)

WeWork will never ever, in its short history, generate a profit, let alone the tens of billions in revenues necessary to generate anywhere near the $3 billion in earnings required to (even then generously) value the company at £47 billion. A lot of people could have done what Adam Nuemann & Miguel McKelvey did, they don’t because they’re not prepared to engage in a fraud. They can play dumb all they like but when you fiddle with your financials, invent accounting principles, secretly acquire IP and double deal it for millions of dollars back to your own company, market yourselves misleadingly as a ‘technology’ play, cash out close to $1 billion and use that to acquire buildings to lease back to WeWork, employ half your family etc, etc, etc…please for heavens sake don’t try and convince me that they are unaware of what they are doing.

They know exactly what they’re doing. Adam and Miguel purposefully choose to hide those costs under ‘Community-Adjusted EBITA’s’. Why are they still parading WeWork as a technology company, does anybody believe as cunningly intelligent as they are, that they genuinely think WeWork is a ‘technology’ company? Why have they cashed out, and not just a few million dollars as a deposit on a big mortgage but hundreds of millions to buy buildings that they used to further bleed their own ponzi scheme with?. They have cashed out $1 billion whilst posting losses of $1.9 billion. Since their S1 release, Adam & Miguel have slashed their proposed post-IPO valuation by 86% in 4 re-valuations. The price started at $67 billion, then they quickly dropped it to $30/$40bn before again looking down at their calculator and punching buttons quicker than you can blink and coming back with $15/20bn.

As you’re about to click, it plunges 40% to $10bn. From $67 billion to $10 billion in 7 days. It’s pathetic seeing this kind of desperation. I don’t want to be in the room when he realises it’s not even close to being worth anywhere near $1 billion. Within the last 10 days or so, his wife Rebekah has also removed from her extraordinarily unnecessary position, they’ve hastily elected their first female to their Board, halved Adam’s voting power, lost a Chief Communications Officer, their bonds are crashing, two landlords have begun legal proceedings, their principle investor Masayoshi has publicly called for Adam to delay the IPO, even Alexandria Ocasio-Cortez weighed in and warned vulnerable investors Goldman Sachs & JP Morgan are now targeting… ‘you’re getting fleeced!’.

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“Estimated losses include €31.8bn in Germany, at least €17bn for France, €4.5bn in Italy, €1.7bn in Denmark and €201m for Belgium.”

‘The Men Who Plundered Europe’: Bankers On Trial For Siphoning €60bn (G.)

They have been called “the men who plundered Europe”: a group of cowboy traders, seasoned tax lawyers and mathematical whizz kids who are alleged to have conspired in the heart of the City of London to siphon at least €60bn in taxpayers’ money from the state coffers of several EU countries. In Britain, the so-called “cum-ex” scandal, named after the complex derivatives juggling act employed, gained little attention amid the frenzied debate around the UK’s departure from the European Union when the fraud scheme was discovered in 2017. But in continental Europe what Le Monde has described as the “robbery of the century” has done almost as much to shape the view of Britain as Brexit itself.

Dutch media has called it “organised crime in pinstripe suits” and one of the original German whistleblowers saying he now welcomes Britain’s exit from the EU in the hope it could weaken the influence of London investment banking on European financial institutions. This week, a British former investment banker involved in developing the scheme for the first time gave the public an insight into how the scheme worked and what spurred on its architects. Speaking at a regional court in Bonn, Martin Shields, one of two former bankers on trial for 34 instances of serious tax fraud between 2006 and 2011, painted a picture of a London banking scene which lured in the brightest scientists from the country’s top universities and used them to boost their profit margins – without teaching them about the moral and legal consequences of their actions in return.

“This was the environment at that time: a financial industry that – at least as far as I could see – was geared towards maximum profit optimisation,” the 41-year-old told a packed courtroom on Wednesday. “One tool to achieve this goal was tax optimisation: avoiding taxation as far as possible – and taking advantage of any opportunities that could be found or created. This was not the clandestine approach of a few. Rather, I saw it as the clear and openly communicated expectation of most major banks and their customers.” [..] Estimated losses include €31.8bn in Germany, at least €17bn for France, €4.5bn in Italy, €1.7bn in Denmark and €201m for Belgium.

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Is it too late to stop them?

Desperate Central Bankers Grab for More Power (Brown)

Central bankers are acknowledging that they are out of ammunition. Mark Carney, the soon-to-be-retiring head of the Bank of England, said in a speech at the annual meeting of central bankers in August in Jackson Hole, Wyoming, “In the longer-term, we need to change the game.” The same point was made by Philipp Hildebrand, former head of the Swiss National Bank, in an August 2019 interview with Bloomberg. “Really there is little if any ammunition left,” he said. “More of the same in terms of monetary policy is unlikely to be an appropriate response if we get into a recession or sharp downturn.” “More of the same” meant further lowering interest rates, the central bankers’ stock tool for maintaining their targeted inflation rate in a downturn.

Bargain-basement interest rates are supposed to stimulate the economy by encouraging borrowers to borrow (since rates are so low) and savers to spend (since they aren’t making any interest on their deposits and may have to pay to store them). But over $15 trillion in bonds are now trading globally at negative interest rates, yet this radical maneuver has not been shown to measurably improve economic performance. In fact new research shows that negative interest rates from central banks, rather than increasing spending, stopping deflation, and stimulating the economy as they were expected to do, may be having the opposite effects. They are being blamed for squeezing banks, punishing savers, keeping dying companies on life support, and fueling a potentially unsustainable surge in asset prices.

So what is a central banker to do? Hildebrand’s proposed solution was presented in a paper he wrote with three of his colleagues at BlackRock, the world’s largest asset manager, where he is now vice chairman. Released in August to coincide with the annual Jackson Hole meeting of central bankers, the paper was co-authored by Stanley Fischer, former governor of the Bank of Israel and former vice chairman of the U.S. Federal Reserve; Jean Boivin, former deputy governor of the Bank of Canada; and BlackRock economist Elga Bartsch. Their proposal calls for “more explicit coordination between central banks and governments when economies are in a recession so that monetary and fiscal policy can better work in synergy.” The goal, according to Hildebrand, is to go “direct with money to consumers and companies in order to enliven consumption,” putting spending money directly into consumers’ pockets.

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“The United States had removed tariffs overnight from over 400 Chinese products in response to requests from U.S. companies.”

Hopes For Trade Breakthrough Fade As China Cancels US Farm Visits (R.)

A U.S.-China trade deal appeared elusive on Friday after Chinese officials unexpectedly canceled a visit to farms in Montana and Nebraska as deputy trade negotiators wrapped up two days of negotiations in Washington. Chinese officials were expected to visit U.S. farmers next week as a goodwill gesture, but canceled to return to China sooner than originally scheduled, agriculture organizations from Montana and Nebraska said. The United States had removed tariffs overnight from over 400 Chinese products in response to requests from U.S. companies. The Chinese Embassy and the U.S. Department of Agriculture did not immediately respond to requests for comment.


The U.S. Trade Representative’s office issued a brief statement characterizing the two days as “productive” and that a principal-level trade meeting in Washington would take place in October as previously planned. China’s Commerce Ministry, in a brief statement, described the talks as “constructive”, and said they had also had a good discussion on “detailed arrangements” for the high-level talks in October. [..] Trade experts, executives and government officials in both countries say that even if the September and October talks produced an interim deal, the U.S.-China trade war has hardened into a political and ideological battle that runs far deeper than tariffs and could take years to resolve.

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“(Claiming to be a Cherokee was a forgivable way of sharing — sharing useful identities for career advancement.)”

President of the Selfies (Kunstler)

Unlike the 2016 Democratic presidential candidate, Elizabeth Warren doesn’t radiate contempt, loathing, and horror at the task of mingling with the hoi polloi. Rather, she has become famous for staging lengthy sessions after campaign speeches to pose for selfies with her fans. The selfie-seekers, you will notice, are all women. It’s heartwarming as all get out. This is at the center of Senator Warren’s strategy for winning the next election: to cadge all of the women’s vote and become the President of all the women of the United States. It’s a shrewd strategy, to turn the election into a gender-bonding contest, but elections have turned on equally fatuous premises, probably more often than not.

Paradoxically, the lumbering President Trump, with his bay window belly, mystifying bouffant, fourth-grade vocabulary, and grab-them-by-the-pussy approach to romance, scored 53 percent of women’s votes last time around. Perhaps that was more a reflection of his opponent’s titanic loathsomeness than of Mr. Trump’s charms. But it only underscores Ms. Warren’s gambit: all she has to do is swing a generous majority of American women over to her side.

She is, in many ways, an exemplar of her sex. She’s made the best of her corn-fed Oklahoma looks. At 69, she capers energetically around the hustings in spanx and Nina McLemore jewel-toned, popped-collar jackets as though she were America’s yoga instructor, an appealing addition to her previous career as a distinguished Harvard law professor. She scores well on the feelings and sharing index, qualities that most men can only caricature. (Claiming to be a Cherokee was a forgivable way of sharing — sharing useful identities for career advancement.) And she has a palpable edge of anger about all the swindles and injustices in American life today, especially those spawned on Wall Street by the financial patriarchy — hey, who can argue with that one? If she has a husband (she has, Harvard law prof Bruce H. Mann) he might as well be hiding under a rock.

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Cowards. What, they’re French?

France Rejects Edward Snowden’s Asylum Request, Fears Major Fallout With US (ZH)

France’s foreign minister has indicated the country has dismissed former US National Security Agency contractor and leaker Edward Snowden’s asylum request because “it is not the time”. Snowden called on French President and former Rothschild banker Emmanuel Macron to grant him political asylum from the United States, after he’s been living in Russia since the 2013 bombshell leaks were released, having first fled from Hong Kong. “He asked for asylum in France, but also elsewhere, in 2013. At that time, France thought that it was not appropriate, I do not see anything that has changed Thursday, either from a political or a legal point of view,” French Foreign Minister Jean-Yves Le Drian told French TV station CNews on Thursday.

Paris is skittish over the whole issue due to US pressure and what such a move would do to its close relationship with Washington. “An adviser to French President Emmanuel Macron hinted earlier this week that welcoming Snowden to France would lead to a major diplomatic fallout with the U.S.,” Politico Europe reported. The whistleblower, who this week published his memoir, has escaped US prosecution as a guest of Putin’s Russia. He previously said he would “love to see” Macron allow him to live in France. Snowden made a first asylum appeal to France in 2013, which was rejected, and another last week. “I am not asking for a parade. I’m not asking for a pardon,” he said in a recent interview. “What I’m asking for is a fair trial.”

Speaking with France’s Inter radio on Monday as part of a press junket to promote his new memoir, the former NSA contractor said “Protecting whistleblowers is not a hostile act,” adding “Welcoming someone like me is not an attack on the United States.” “I would like to return to the United States. That is the ultimate goal. But if I’m gonna spend the rest of my life in prison, the one bottom line demand that we have to agree to is that at least I get a fair trial. And that is the one thing the government has refused to guarantee because they won’t provide access to what’s called a public interest defense,” Snowden told CBS This Morning.

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Melzer says here: ““Trying to win any aspect of this case in the judicial arena has been a losing game for almost a decade..”

But that goes both ways. Governments haven’t been able to any more than those who are on Julian’s side. Obama was advised he had no chance in court. It took a highly partial and corrupt UK court to get the job done.

Julian Assange: Justice Denied (Sagir)

Technically, Julian Assange is supposed to be released from his prison cell at HMP Belmarsh on Sunday. Yet a British court ruled last week that he has to remain in prison after the custody period of his current jail term ends due to his “history of absconding.” Assange is no longer a serving prisoner but someone facing extradition. Why is Assange actually being held prisoner? Well, the UN Special Rapporteur on Torture Nils Melzer tells me that Assange’s case is not about law, but rather politics. He says: “Trying to win any aspect of this case in the judicial arena has been a losing game for almost a decade because, from the outset, this case has been decided politically. His right to a fair trial has been systematically violated by all involved states.

“If this were about applying the law, he would have never been convicted of bail violation simply for seeking — and receiving — diplomatic asylum in the Ecuadorian embassy. “If this were about applying the law, he would not be in extradition detention under a US indictment of espionage simply for doing investigative journalism.” It seems that the only thing Assange is on trial for is the publication of the Chelsea Manning leaks. Melzer says: “The only other charge against him is for allegedly trying to help Manning to decode a password, albeit unsuccessfully and without causing any harm whatsoever. “Clearly, that is not a serious crime by any standards, and certainly not an offence any prosecutor would spend substantial resources on.”

[..] after 100 days and counting, the UK has not even responded to my official letter yet and Assange’s state of health is reportedly deteriorating as we speak,” Melzer says. Melzer says he is “appalled” at how Britain is “simply ignoring” his report. He was mandated by the UN human rights council, which includes Britain, to report to states on their compliance with the prohibition of torture and ill-treatment. Once Melzer investigates a case and makes an official finding that an act of torture has been committed, then they have to at least conduct an impartial and transparent investigation into the case, even if they come to different conclusions.

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Front page NY Post today. Brilliant.

 

 

 

 

 

Aug 042019
 


Julie Edgley Immature white tailed eagle.

 

An Economy Based on Plunder (PCR)
Economics Is A Failing Discipline Doing Great Harm (Simms)
Joe Biden To Millennials: Stop Complaining (HPo)
Dominic Cummings: UK Lawmakers Can’t Stop No-Deal Brexit (R.)
Justice Dept Bill Comes Due For Russiagate Costs (RT)
Celebrities, Royals, Politicians Fear Release Of Jeffrey Epstein Files (Tel.)
California Scrubs Controversial Kamala Harris-Era Arrest Reports
America’s Elites: Fractured and At Odds with Each Other (Crooke)
We Must Change Food Production To Save The World (G.)
The Sea Eagle Has Landed – Centuries After It Disappeared (G.)

 

 

Two mass shootings in the US, Iran seizes another tanker and police in France and Hogn Kong chase protesters. Must be Sunday.

Well, yes, it’s been about plunder for as long as our ‘civilization’ exists. We prefer to use other terms, that’s all.

An Economy Based on Plunder (PCR)

Capitalists have claimed responsibility for America’s past economic success. Let’s begin by setting the record straight. American success had little to do with capitalism. This is not to say that the US would have had more success with something like Soviet central planning. Prior to 1900 when the frontier was closed, America’s success was a multi-century long success based on the plunder of a pristine environment and abundant natural resources. Individuals and companies were capitalized simply by occupying the land and using the resources present. As the population grew and resources were depleted, the per capita resource endowment declined.

America got a second wind from World War I, which devastated European powers and permitted the emergence of the US as a budding world power. World War II finished off Europe and put economic and financial supremacy in Washington’s hands. The US dollar seized the world reserve currency role from the British pound, enabling the US to pay its bills by printing money. The world currency role of the dollar, more than nuclear weapons, has been the source of American power. Russia has equal or greater nuclear weapons power, but it is the dollar not the ruble that is the currency in which international payments are settled. The world currency role made the US the financial hegemon.

This power together with the IMF and World Bank enabled the US to plunder foreign resources the way vanishing American resources had been plundered. We can conclude that plunder of natural resources and the ability to externalize much of the cost have been major contributors right through the present day to the success of American capitalism. [..] Essentially, capitalism is a plunder mechanism that generates short-run profits by externalizing long-run costs. It exhausts natural resources, including air, land, and water, for temporary profits while imposing most of its costs, such as pollution, on the environment.

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And economics is designed to justify the plunder.

Economics Is A Failing Discipline Doing Great Harm (Simms)

[..] neoclassical economics has so deeply entrenched the notion that markets are better than all other ways of organising life, that decisions escape rational scrutiny. Academic economists will tell you that their discipline offers a far more complex picture of the world. But, at the policy level, what tilts a spending decision one way or the other is the simple power of the seeming “folk wisdom” that markets are best. It becomes the rule of thumb. They might look less good if the assumptions on which the equilibrium models that got us here were more widely known. The idea of perfect markets under perfect competition, for example, asks us to believe in a world where everybody knows everything, there are an infinite number of companies, no barriers to setting up a business, where any product can stand in for any other (say, a banana for a tractor) and, crucially, there are no “externalities” (economic speak for “consequences”) from production or consumption.


All models use a few simplifying assumptions, but those underpinning mainstream economics more often distort and detach from reality. It’s one of the reasons why students have rebelled, forming groups to demand that universities take a more pluralistic approach to teaching economics. Katie Kedward left a banking job in the City for ethical reasons and sought a degree that would make sense of economics. Despairing at the unreality of mainstream courses, she found a rare exception: a master’s in ecological economics at the University of Leeds. The course, though, isn’t even taught in the economics department but the School of Earth and Environment. That’s why new groups are emerging to promote heterodox economics, which draws on the insights of the study of complexity, neuro and behavioural science, ecology, feminism and the core economy of family, mutualism and community.

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Yeah, don’t just sit there, do something instead. Like seize Joe’s wealth.

Joe Biden To Millennials: Stop Complaining (HPo)

Former Vice President Joe Biden has a message for the millennial generation: Stop complaining if you aren’t going to engage with politics. The 2020 Democratic presidential contender stood by the skepticism he expressed last year when asked about young adults’ belief that they face outsize hurdles to secure housing and pay off debt. “I have no empathy for it. Give me a break,” Biden said in January 2018. Asked to explain what he meant, Biden began talking about his personal experience growing up with “very modest means” and how he felt upon learning about a study that found relatively few young people today would consider running for political office.

“We have an obligation to get engaged,” Biden said at Saturday’s AFSCME forum, co-moderated by HuffPost. “You all have an obligation to get engaged.” “Don’t tell me how bad it is. Change it. Change it. Change it,” he said. He added: “My generation did it.” = Biden drew some criticism the first time he went after millennials, more than a year before he announced his candidacy. Conservative New York Times opinion writer and climate denier Bret Stephens later sided with Biden in a column criticizing the millennial generation, which Stephens said specializes in “histrionic self-pity and moral self-righteousness.”

As HuffPost’s Michael Hobbes reported in 2017, there is a large amount of research and data that paints a bleak financial future for young people, many of whom are already reporting that they’re finding themselves priced out of the housing market. Although Biden has consistently polled highest among the wide field of 2020 Democratic presidential contenders, his supporters skew older and more moderate. At the forum, he went on to say, “I just don’t want people telling me on a college campus, ‘Oh, woe is me, I’ve got it so bad.’ … Come on.”

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Checkmate?

Dominic Cummings: UK Lawmakers Can’t Stop No-Deal Brexit (R.)

Lawmakers will be unable to stop a no-deal Brexit on Oct. 31 by bringing down Britain’s government in a vote of no confidence next month, Prime Minister Boris Johnson’s top aide has advised, according to the Sunday Telegraph. Dominic Cummings, one of architects of the 2016 campaign to leave the European Union, told ministers that Johnson could schedule a general election after the Oct. 31 Brexit deadline if he loses a vote of no confidence in parliament, the newspaper said, citing sources. Johnson has promised to lead Britain out of the EU on Oct. 31 with or without a deal but has a working majority of just one after his Conservative Party lost a parliamentary seat on Friday.


Some of his lawmakers have hinted they would vote against him to prevent a no-deal Brexit — a rising prospect that has sent the pound tumbling to 30-month lows against the dollar over the last few days. Lawmakers are unable to table a motion of no confidence before next month because the House of Commons is in recess until Sept. 3. “(Lawmakers) don’t realise that if there is a no-confidence vote in September or October, we’ll call an election for after the 31st and leave anyway,” Cummings was quoted by one of the Sunday Telegraph’s sources as saying. Johnson has said he would prefer to the leave the EU with a deal but has rejected the Irish backstop — an insurance policy to prevent the return of a hard border between the Irish Republic and Northern Ireland — which the EU says is key to any agreement.

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“..the special counsel’s office spent $25 million digging for Russian infiltrators in the White House.”

Justice Dept Bill Comes Due For Russiagate Costs (RT)

Nearly two years of fruitlessly hunting for collusion between US President Donald Trump’s campaign and the Russian government cost the country $31.7 million, the Justice Department has revealed. The cost of special counsel Robert Mueller’s 22-month probe was released in a Justice Department accounting report on Friday. While the last six months of the investigation, which concluded in May with Mueller’s resignation, cost “only” $6.5 million as he began sending prosecutors home and writing up the 448-page report, turning the full force of the country’s investigative apparatus against a president and his campaign isn’t cheap. From May 2017 to September 2018, the special counsel’s office spent $25 million digging for Russian infiltrators in the White House.

Some $2.4 million of the last phase’s expenses would have been spent anyway on Department salaries, according to the report, but the itemized breakdown provides an interesting window into the bureaucratic swamp that produced the pricey nothingburger. “Transportation of Things” may have cost just $229, but Justice Department employees billed the government for $235,812 to work out of the special counsel’s office instead of their own offices (filed under “Travel and Transportation of Persons”). While the special counsel investigation infamously turned up no proof of the promised Russian collusion, that did not stop Trump’s political opponents from attempting to reframe the expensive endeavor as a victory – based on the handful of process crimes levied against Trump associates – or a “roadmap to impeachment,” since Mueller did not explicitly say Trump should not be prosecuted and outlined 10 potential scenarios of obstruction of justice.

Adding insult to injury, several key “facts” in the report have already been proven wrong or misleading, such as the identity of Konstantin Kilimnik, who Mueller described as having links to Russian intelligence but who was actually a US State Department asset. And last month, a federal judge found that Mueller had utterly failed to prove that the company running the “troll farm” that supposedly committed “sweeping and systematic” interference in US elections on behalf of the Russian government had any government connections at all.

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Who’s powerful enough to remain hidden?

Celebrities, Royals, Politicians Fear Release Of Jeffrey Epstein Files (Tel.)

In Room 270, the records management unit, on the second floor of an imposing granite and marble courthouse in lower Manhattan, 167 documents totaling more than 2,000 pages are being kept under lock and key. But they are about to be unsealed and made public – making a host of important people around the world, including celebrities, politicians and royals, very nervous. The files contain explosive allegations in the case of Giuffre v Maxwell, in which Virginia Giuffre, a woman who claims to have been Jeffrey Epstein’s teenage “sex slave”, sued Ghislaine Maxwell, a British socialite and the billionaire’s former girlfriend, for defamation.

The case was settled in May 2017 on the eve of the trial but the details were not disclosed and the final judgment and supporting documents were sealed, with the court noting the “highly sensitive nature of the underlying allegations.” According to other court documents that have been published, Ms Giuffre has made allegations of sexual abuse against “numerous prominent American politicians, powerful business executives, foreign presidents, a well known Prime Minister, and other world leaders.” An appeal to unseal the rest of the documents was launched by the Miami Herald newspaper, which has spearheaded media investigations into Epstein. It was rejected three times. But last month the US Court of Appeals for the Second Circuit ordered their release, ruling that the public’s right to know outweighed the privacy rights of the high-profile individuals named.

It what may be an indication of the fame of those individuals, the judges made a striking plea to the media to “exercise restraint” in reporting the allegations about to come to light. They also allowed parties involved to apply for minor redactions, delaying the release. Another delay is possible as Miss Maxwell has launched an appeal to keep the documents sealed, her lawyers arguing that a full release would trigger a “furious feeding frenzy.” They wrote: “Plaintiff Giuffre made numerous allegations of sexual, if not criminal, conduct against a wide range of third parties. Because of the media no reference to anyone in this case is benign: a reference to any person is toxic and lethal to that person’s reputation. Facts and truth are all but irrelevant.”


Prince Andrew, Virginia Roberts Giuffre and Ghislaine Maxwell in 2001

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Have you no shame?

California Scrubs Controversial Kamala Harris-Era Arrest Reports (ZH)

The California Department of Corrections and Rehabilitation has scrubbed arrest records from Sen. Kamala Harris’s controversial tenure as the state’s top law enforcement official, according to the Washington Free Beacon. The purge was conducted during a ‘routine website redesign,’ removing public access to several key incarceration reports. Twice a year, the CDCR releases information about the number of new individuals incarcerated in the California prison system as part of its “Offender Data Points” series. These reports provide important information on demographics, sentence length, offense type, and other figures relevant to criminal justice and incarceration.

Until recently, these reports were publicly available at the CDCR’s website. A search using archive.org’s Wayback Machine reveals that as of April 25, 2019—the most recent indexed date—ODP reports were available dating back to the spring of 2009. As of August 2019, the same web page now serves only a single ODP report, the one for Spring 2019. The pre-2019 reports have been removed. -Washington Free Beacon During the Democratic debates on Wednesday night, Rep. Tulsi Gabbard (D-HI) excoriated Harris’s record as California Attorney General, rattling off a laundry list of ‘inconvenient’ facts – such as the 1,500-plus Californians Harris sent to prison for marijuana-related offenses, blocking evidence that would have freed an innocent man from death row until forced to do so by the courts, and using prison inmates as cheap labor. Harris did not refute any of Gabbard’s statements.

The now-scrubbed records were used by the Free Beacon in prior reporting – “specifically the finding that more than 120,000 black and Latino Californians were sent to prison while she was in the State A.G.’s office.” A CDCR employee claims that the changes have nothing to do with Harris’s campaign, and were instead prompted by California law AB 434 which ‘sets standards for web accessibility.’

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Reeks too much of fear-mongering to me. Alastair Crooke can theorize all he wants.

America’s Elites: Fractured and At Odds with Each Other (Crooke)

Something is ‘up’. When two Financial Times columnists – pillars of the western Establishment – raise a warning flag, we must take note: Martin Wolf was first off, with a piece dramatically headlined: The looming 100-year, US-China Conflict. No ‘mere’ trade war, he implied, but a full-spectrum struggle. Then his FT colleague Edward Luce, pointed out that Wolf’s “argument is more nuanced than the headline. Having spent part of this week among leading policymakers and thinkers at the annual Aspen Security Forum in Colorado,” Luce writes, “I am inclined to think Martin was not exaggerating. The speed with which US political leaders of all stripes have united behind the idea of a ‘new cold war’ is something that takes my breath away. Eighteen months ago the phrase was dismissed as fringe scaremongering. Today it is consensus.”

A significant shift is underway in US policy circles, it seems. Luce’s final ‘take’ is that “it is very hard to see what, or who, is going to prevent this great power rivalry from dominating the 21st century”. It is clear that there is indeed now a clear bi-partisan consensus in the US on China. Luce is surely right. But that is far from being the end of it. A collective psychology of belligerence seems to be taking shape, and, as one commentator noted, it has become not just a great-power rivalry, but a rivalry amongst ‘Beltway’ policy wonks to show “who has the bigger dick”.

And quick to demonstrate this, at Aspen (after others had unveiled their masculinity on China and Iran), was the US envoy for Syria (and deputy US National Security Adviser), James Jeffrey: A US policy boiled down to one overriding component: ‘hammering Russia’. “Hammering Russia” (he insisted repeatedly), will continue until President Putin understands there is no military solution in Syria (he said with heightened verbal emphasis). Russia falsely assumes that Assad has ‘won’ war: “He hasn’t”, Jeffrey said. And the US is committed to demonstrating this fundamental ‘truth’.

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We must change it to preserve our own mental health.

We Must Change Food Production To Save The World (G.)

Attempts to solve the climate crisis by cutting carbon emissions from only cars, factories and power plants are doomed to failure, scientists will warn this week. A leaked draft of a report on climate change and land use, which is now being debated in Geneva by the Intergovernmental Panel on Climate Change (IPCC), states that it will be impossible to keep global temperatures at safe levels unless there is also a transformation in the way the world produces food and manages land. Humans now exploit 72% of the planet’s ice-free surface to feed, clothe and support Earth’s growing population, the report warns. At the same time, agriculture, forestry and other land use produces almost a quarter of greenhouse gas emissions.

In addition, about half of all emissions of methane, one of the most potent greenhouse gases, come from cattle and rice fields, while deforestation and the removal of peat lands cause further significant levels of carbon emissions. The impact of intensive agriculture – which has helped the world’s population soar from 1.9 billion a century ago to 7.7 billion – has also increased soil erosion and reduced amounts of organic material in the ground. In future these problems are likely to get worse. “Climate change exacerbates land degradation through increases in rainfall intensity, flooding, drought frequency and severity, heat stress, wind, sea-level rise and wave action,” the report states. It is a bleak analysis of the dangers ahead and comes when rising greenhouse gas emissions have made news after triggering a range of severe meteorological events.

[..] The new IPCC report emphasises that land will have to be managed more sustainably so that it releases much less carbon than at present. Peat lands will need to be restored by halting drainage schemes; meat consumption will have to be cut to reduce methane production; while food waste will have to be reduced. Among the measures put forward by the report is the proposal of a major shift towards vegetarian and vegan diets. “The consumption of healthy and sustainable diets, such as those based on coarse grains, pulses and vegetables, and nuts and seeds … presents major opportunities for reducing greenhouse gas emissions,” the report states.

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First since 1780.

The Sea Eagle Has Landed – Centuries After It Disappeared (G.)

Sea eagles have returned to the Isle of Wight 239 years after they were last seen there. Six chicks brought from Scotland were taken to the island last month as part of a programme to reintroduce the birds to England’s south coast. Also known as white-tailed eagles, the birds will be released into the wild in the next few weeks. Over the next five years 60 young sea eagles – which grow to have a wingspan of up to 2.4 metres (8ft) and are Britain’s largest bird of prey – will be released on the island in a programme approved by Nature England. It is hoped the birds will begin breeding there by 2024.


“Sea eagles were once a common sight in England and southern Europe but were lost centuries ago,” said Roy Dennis, who has pioneered the reintroduction of the birds to Britain. “This project aims to reverse that situation by restoring them to their ancestral nesting places.” Dennis added that the last pair of sea eagles in England bred on Culver Cliff on the Isle of Wight in 1780. A spokesperson for Forestry England said the new chicks had been doing well since their arrival and that once their health had been checked they would be released into the wild at several different locations in the next few weeks.


White tailed eagle. Photo:Arturo de Frias Marques

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Assange: The persecution

 

 

 

 

 

Jan 292018
 
 January 29, 2018  Posted by at 8:02 pm Finance Tagged with: , , , , , , , , , , ,  5 Responses »


Lucien Hervé The Accuser, Delhi, India 1955

 

Tomorrow we have the State of the Union. Donald Trump will be gloating from ear to ear, but he’ll be subdued – by his standards. Expect perhaps $1 or even $1.5 trillion in infrastructure spending to be announced, plus an immigration plan that gives Democrats much of what they want in exchange for some of the things Trump wants, as well as more on trade surpluses and deficits. The Democrats will attempt to turn it into a circus of sorts by bringing guests, and they will fail.

What America needs right now is dialogue, but it’s only moving further away from it. Anything that’s wrong with anything or anyone gets blamed on Trump. By half the population. That’s nice and easy and convenient, but it doesn’t lead anywhere.

This pic, even though it features a very dumb question, says a lot about where the country stands, and it’s not standing pretty. Everybody’s just busy confirming their own opinions 24/7, egged on by networks, newspapers and social media. It’s like Moses split the nation.

 

 

Watched the Trump speech in Davos last week. He made all the points you would expect him to. No scandals, nothing anyone could blame him for. In fact, it’s true that the US economy is doing well, in Trump terms. They’re not my terms, because they laud stock markets that quit being actual markets the moment the Fed and it global brethren killed off price discovery. But in Trump terms a record S&P 500 is all you need to know, alongside low unemployment numbers, even if the latter have everything to do with underpaid shit jobs robbed of all benefits American workers once fought so hard for.

In Trump’s view, that’s a good thing. In mine, it’s a recipe for mayhem. I was watching CNN in the build-up to the speech, and Trump’s denial of the NYT report that he had intended to fire Special Counsel Robert Mueller was completely ignored. Like he never said it. At CNN, anonymous sources have -way- more credibility than the president. That’s a bit of a problem.

After the speech, all sorts of people were interviewed, and Joe Stiglitz of Nobel Memorial fame was one of them. He couldn’t muster anything better than that Trump is a bigot, a misogynist and a racist. That’s a terribly poor reaction to a speech like the one we saw and heard -which included not one word that would make any sane person think of these ‘topics’-, certainly from an economist.

 

The 1-year-old Donald Trump presidency has brought us a lot of new things, but none more significant than that Trump has been under investigation since day 1 (and even before that). This sets a dangerous precedent that will resound through US politics for a very long time to come, not least of all because today, one year into the presidency, none of the investigations has resulted in anything tangible, while they continue without a finish line in sight.

The problem with that is that if you can do it with one president, someone will do it with the next one and the next one after that as well. Which does great damage not to Trump, but to the entire US political system, and the Office of the President of the United States in particular. If the office cannot command sufficient respect on Capitol Hill to limit any such investigation to an absolute minimum, in deference to what it represents, why would anyone else, domestically or abroad, show such respect?

Obviously, some people may claim that the situation is unique, simply because it concerns Trump, but that argument doesn’t fly very far, because he was elected president, the culmination of a process that, given the powers endowed upon the office, should be close to sacred in the country. And if the very people (s)he must most closely work with, in the Senate and the House, are willing to subject a newly elected president to endless investigations without producing any results for a whole year, where and what are the limits?

It is at present of course all based on opaque accusations of the Trump campaign working with Russian intelligence to swing America’s election process in favor of the president. But to date, four different committees on Capitol Hill, plus Special Counsel Robert Mueller, have made nothing public that proves any such ‘collusion’. And Mueller’s investigation is not only unlimited in time, it’s also unlimited, in practical terms, in scope: whatever is deemed even possibly, perhaps, linked to collusion with Russia, goes.

 

The American empire was built, once it had acquired enough geopolitical, financial and military power, on invading countries and turning them into shithouses. It wasn’t and original idea, America wasn’t the first country to do it, but it’s certainly been no. 1 in applying the ‘tactic’ over the past 100 years and change. Which makes it curious that when its own elected president calls some countries shithouses, that is treated like the worst thing anybody could have said anytime in history. And racist too, allegedly.

The entire country was built on racism, and it’s still to his day almost exclusively run by white males. Much of the racism may be hidden by now, but it’s still very much there. Go look at Baltimore, Chicago, Milwaukee, and the long list of black kids killed by white cops. It’s not much use trying to claim that America is over its past. But Trump is singled out as a racist, though it’s unclear what would make him worse than others.

And on Martin Luther King Day, all Democrats and many Republicans fell over each other once again claiming they knew exactly what Dr. King stood for in his days, and what he would have said if he were alive today (the same they thermselves say). They don’t have a clue. The only way to honor MLK is to assume he would have been lightyears ahead of you. To assume he would have condemned all US foreign as well as domestic policy, and the likes of Bill Clinton, both George Bushes, Trump, and even Obama, wouldn’t even have had a remote chance of becoming president.

 

Allegedly Trump never said “shithole countries”, but instead talked about “shithouse countries”. Which would explain why he could say he never used the language he was quoted as having used (“Why are we having all these people from shithole countries come here?”) That a private conversation with lawmakers held in the Oval Office was leaked again within no time will not only frustrate Trump to no end, it also paints a dangerous picture of the future of US politics.

What used to be the exclusive domain of police officers and TV series, the catchy line “anything you say can and will be used against you”, no longer applies only to suspected criminals, from here on in it should be read to American presidents too. Trump and his successors will no longer be able to discuss policy in the White House, they must assume everything they say will be in the press within hours if not minutes. That is dangerous.

But let’s dig some more. And ask ourselves what is worse, let alone more racist: turning nations into shithouses or calling them that after the fact. Half the planet was encouraged to speak out in indignation at the use of the term, but where were all those Americans when the bombs and drones were unleashed upon Syria, Libya, Iraq? Where were the media?

Trump singled out Haiti and El Salvador. Two completely different ‘cases’. But also too complete basket cases (another word for shithouse) , compared to their potential. Haiti was the first slave colony to liberate itself, under black rule. That was in 1804, and if you know what Americans’ view of slaves and black people in general was back then, you can imagine how the former no. 1 global sugar producer was treated. By France, the country that had ruled it, but also by America. And you want to claim Haiti is not a shithouse country today? Go to Port-au-Prince and ask people living in the poor part of town how they feel about that.

As for African countries, the Congo is always a good example. The richest nation on the planet when it comes to natural resources, and one of the poorest when it comes to living standards. Long governed by a regime under Belgium’s King Leopold, matched in cruelty only perhaps by Germany in WWII, the Congo is still maintained as a hellhole to this day. So American and European conglomerates can dig up the metals and minerals almost for free. Not a shithole, a hellhole.

No, Trump is not going to solve that, but he didn’t make it what it is either. Generations of Americans did that. Yeah, we understand why they don’t want it named the way Trump has.

Perhaps the best illustration of how convoluted the entire issue quickly became after Trump said shithouse, which then became shithole, is this LA Times article, which starts out with the headline that Americans with African roots ‘should’ all be insulted, but then rapidly devolves into something else altogether, that insults them a lot more: the history of American involvement in their countries. Slavery, occupation, warfare, plunder.

 

For Black Americans, Trump’s ‘Shithole’ Comment Was An Insult To Their Histories

Kimberly Atkins, the Washington bureau chief of the Boston Herald, recently did a DNA test “that pretty much confirmed my heritage is 100% the result of the slave trade,” she wrote in a private message on Twitter. “Eighty-seven percent from western coastal African countries and 13% European, all migrated by way of the American South.”

She traced part of her heritage to an ancestor who fought in the Union during the Civil War to guarantee his freedom and the abolition of the U.S. slave trade. “My ancestors did not come from shithole countries,” she tweeted. “They were neither tired nor poor. They were forcibly brought here to live in a shithole created for them.”

Trump’s singling out of Haiti was particularly frustrating for descendants from the Caribbean nation, coming as the nation mourned the eighth anniversary of an earthquake that killed hundreds of thousands of residents.

“Haiti is not unacquainted with racists or white supremacists. We defeated our share of them in 1804 when we became the world’s first black republic,” Haitian American author Edwidge Danticat wrote in a post on Facebook, expressing her frustration that Haitians’ mourning was being diverted by an insult from Trump.

Danticat’s father came to Brooklyn, N.Y., to drive a taxicab “sometimes sixteen hours a day, so that my three brothers (two teachers and an IT specialist) and I could have a better life,” Danticat wrote.

Danticat added: “We are also the country that the United States has invaded several times, preventing us from consistently ruling ourselves. If we are a poor country, then our poverty comes in part from pillage and plunder.”

Clint Smith, a writer and PhD candidate at Harvard University specializing in sociology and education, said that he hoped that at least the president’s remarks would prompt a fuller conversation about past U.S. and European involvement with the countries Trump mentioned — countries still troubled by the legacy of colonial rule and military interventions.

“You can’t understand the economic conditions in which Haiti exists now without understanding the centuries and centuries of direct imperialism and violence and economic exploitation that the country experienced after the Haitian revolution of 1804,” Smith said. “We can’t have a real conversation about what is happening, why Salvadorans are coming here, without discussing how the U.S. contributed to the civil unrest in that country.”

The larger conversation, Smith said, “is not often enough taking into account the way that U.S. policy directly contributed to the condition in which so many of these so-called shitholes are currently existing.”

 

The woman who says “My ancestors did not come from shithole countries” says it best. Before the slave traders came to ship their ancestors to Brazil and later America, their countries were not shithouses. But they did become just that after, and many if not most still are now.

From a less echo chamber-confined point of view, this little thingy is priceless:

 

 

That points to an aspect of all this that we can not ignore: the media. There has a been a profound shirt in that field, and it happened fast, it turned on a dime. The first signs were already there before the Trump presidency, but it’s all been going going gone out of the park since. Media organizations (for lack of a better term) like the New York Times, the Washington Post, MSNBC and CNN were anti-Trump from the get-go, but it was when they found out their attitude was commercially very interesting that they really went for it.

And in a way, that made sense; they all had big problems trying to adapt their business models to the internet age. Then they found that publishing one after another anti-Trump piece brought them tons of new subscribers and advertisement revenue. Also for their internet presence. One stone, two birds.

The problem is that all that revenue and readership comes from one half of America, and excludes the other half. You know beforehand that anything these firms publish about Trump will be biased, and not a little bit. Much of it is based on anonymous sources, not exactly a sign of solid journalism. But it sells. And they have a business to run. We get it.

For those outside of the echo chamber, however, they have become largely unreadable and unwatchable. It’s obvious by now that someone like me, who asks a few questions and doesn’t feel comfortable in an echo chamber, will almost of necessity be ‘accused’ of being a Trump supporter. Absolute nonsense, but that’s echo chambers for you. They’re deafening and they lead to brain damage in case of long term occupancy.

Perhaps even worse are social media, where untold numbers of people revel in the notion that many others think like them, and let that carry them away to ‘heights’ they would never have thought possible. In the case of Trump, many allow themselves to call him names -in writing- they never would have dared use before, but they see echoed back to them on Twitter and Facebook et al.

That their often insults of Trump in effect show their disrespect for America’s political system would never occur to them. It’s an us against them battle, and they feel greatly emboldened by the 24/7 presence of those that are like-minded. It’s entirely unclear where this is going in the future, but it should be obvious it won’t be anywhere pretty.

Neither Bob Mueller nor those 4 committees on Capitol Hill have presented anything of substance as of now, but it’s crystal clear that Donald Trump is not being considered innocent until proven guilty. Which not only goes straight against, and into the heart of, American values and principles of justice, it also doesn’t even begin to address the real problem.

The real problem, and it’s not new at all, is that both US political parties might as well be run by Tony Soprano. The presence inside party leadership of people like Steve Wynn is ridiculous, but so is that of John Podesta. That is undoubtedly blindingly obvious for a vast majority of Americans, but it’s not what they focus on. They focus on Trump instead, on the still contagious obsession with impeaching him, even though many understand that wouldn’t solve any of the underlying issues.

 

And then Trump gets to present great economic numbers tomorrow. The numbers are mostly fake, but they’re the same ones that the echo chamber media also use, so they’ll have to tackle him somewhere else. They’ll come up with something, don’t worry. Their audience will just wait to be fed the usual pre-chewed bite-size fare anyway.

America needs a dialogue. But all it has left is loud, echoing, deafening, monologues. And plenty shithouse counties and cities and neighborhoods within its own borders as well. For which, too, it’s useless to blame Trump. He’s just the logical conclusion of years of blindness, ignorance, greed, stupidity and neglect. All of which, as long as everyone focuses on him, are guaranteed to continue.

Trump is not what’s wrong with America. Rather, what is wrong with America is what has given it Trump. Someone asked God for a sign and He said: here you are.

 

 


Little shithouses for you and me