Aug 082023
 


Claude Monet Ships in harbor 1873

 

The Great Unravelling: ‘For All That Is Ours, We Must Fight’ (Alastair Crooke)
Trump Demands Supreme Court ‘Intercede’ In Legal Battles (ZH)
Can Trump Get an “Impartial Jury” in DC? (Dershowitz)
DOJ Slapped By Judge In Trump Documents Case (ZH)
Trump Pushes Back On Proposed Gag Order (RT)
Trump May Face Racketeering Charges in Fulton County Election Case (Sp.)
Ukraine’s Counteroffensive May ‘Run Its Course in the Next Few Weeks’ (Sp.)
‘No Compromise’ With Moscow, Kiev Vows (RT)
The West Really Believes Russia Is On The Verge Of ‘Collapse’ (Andrey Sushentsov)
Normies Awake! (Kunstler)
The EU Is A ‘Failed Project’ – Right-wing “Alternative For Germany” Party (RT)
Ukraine Leader in Black Market of Human Organ Trafficking – Zakharova (Sp.)
UK’s NHS Raises Age For Government-Funded Transgender Treatments To Seven (ZH)
Museum Bans JK Rowling From Harry Potter Exhibit (RT)

 

 

 

 

RFK

 

 

Ramaswamy

 

 

 

 

Satire
https://twitter.com/i/status/1688611582639546368

 

 

Ritter Aug 6

 

 

 

 

The idea is to drown Trump in litigation. And then at some point, make up something that puts him in jail. No more campaigning.

“This indictment is a naked threat and act of intimidation by the Democratic Party against any and all of their political opponents’”

The Great Unravelling: ‘For All That Is Ours, We Must Fight’ (Alastair Crooke)

“[The DoJ indictment] “is ‘a declaration of war’ against American voters. It is not about Trump per se. It’s about criminalising dissent and punishing the millions who voted for him. [This week the Justice Department] took the unprecedented step of indicting former President Donald Trump — Biden’s chief rival in the upcoming 2024 election — for repeatedly expressing his opinion that the last election was stolen, rigged, and unfair”. It’s an opinion millions of Americans share, and to which they are unquestionably entitled thanks to the First Amendment. And that includes Trump, who has said repeatedly (and recently) that the 2020 election was stolen. He will probably keep saying it until his dying day, and he has every right to do so. The idea that our Justice Department can indict someone, especially the sitting president’s main political rival, over speech that’s protected by the First Amendment is simply insane … Simply put, this indictment is nothing more than a declaration of war against American voters and their constitutional right to free speech.

“Consider what is alleged and what isn’t: The charges against Trump do not include ‘incitement to violence’ on Jan. 6, 2021. Critically, The indictment simply presupposes that there was no election fraud. It then characterizes Trump’s contrary assertions from November 14, 2020 through January 20, 2021 as “false” – as though this were self-evident. “Trump’s claims were false and that he knew they were false”. On this basis, the indictment claims that 6th Jan was a ‘conspiracy’ – based in deceit – to prevent Electors’ votes from being appropriately counted”. Tom Fitton, president of the Conservative legal and election watchdog group, Judicial Watch, believes: “This indictment is a naked threat and act of intimidation by the Democratic Party against any and all of their political opponents’”.

And The Federalist warns: “If the prosecution of Trump succeeds, it means the First Amendment is a dead letter in America. It means you’re not allowed to have opinions that contradict the Justice Department’s official narrative”. For the sake of clarity, what is being expressed here is that this indictment is part and parcel of the ongoing western ‘culture war’ – just as scientists were cancelled, dismissed from their professions and ostracised for expressing a view about mRNA science; just as views on human biology are subject now to official negation; just as ‘misgendering’ has become a potential criminal offence (hate speech), so ideological and institutional capture is being extended to the political sphere. This is the issue, amongst others, that is set to unravel America – and, in unravelling the U.S., will unravel Europe too.

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SCOTUS wants to remain neutral. But with, what is it, 10 indictments and 42 charges(?!) vs Trump, that neutrality is long gone. Better act while Trump is still a free man.

Trump Demands Supreme Court ‘Intercede’ In Legal Battles (ZH)

Former President Donald J. Trump has called on the Supreme Court to step in and ‘intercede’ in his various legal battles.” “My political opponent has hit me with a barrage of weak lawsuits, including D.A., A.G., and others, which require massive amounts of my time & money to adjudicate,” Trump said in a Friday post to Truth Social. “I am leading in all Polls, including against Crooked Joe, but this is not a level playing field,” he continued “It is Election Interference, & the Supreme Court must intercede. MAGA!” The former president is currently President Joe Biden’s #1 political opponent, and has been charged by Biden’s DOJ with conspiracy to defraud the United States, conspiracy to obstruct an official proceeding, obstruction of and attempting to obstruct an official proceeding and conspiracy against rights.

He was arraigned on Thursday in a Washington DC courtroom, where he entered a ‘not guilty’ plea on the four charges above. The indictment is the third filed against the former president in the past few months – as opposed to the entire time he’s been out of office. Trump is already facing charges linked to porn-star payoffs and keeping classified documents at his Mar-a-Lago property in Florida, in a locked safe, as opposed to a garage where his crackhead son doing business with the Chinese and the Ukrainians had full access to them. Trump has pleaded not guilty to all charges and maintained that he is being prosecuted for political purposes because of position as the front-runner for the GOP nomination for president in 2024.

All three of Trump’s criminal cases remain in early stages. Although the disputes could eventually end up at the Supreme Court, such an appeal would not take place until further down the road. In his hush money case, Trump has begun the appeal process over a ruling that denied Trump’s attempt to move the case to federal court. That dispute is now in the hands of the 2nd U.S. Circuit Court of Appeals. -The Hill Meanwhile, President Biden – who lied about his level of knowledge and involvement in Hunter Biden’s business dealings – says his DOJ is apolitical and makes its own decisions.

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No.

Can Trump Get an “Impartial Jury” in DC? (Dershowitz)

What should happen… when it is virtually impossible for the defendant to get an impartial jury in that state or district? The prosecution of Donald Trump for the events around January 6, 2021 would seem to call for a change of venue. The District of Columbia is the most extreme Democratic district in the country. Approximately 95% of the potential jurors register and vote Democrat. Whereas approximately 5% voted for Trump. Furthermore, the anger against Trump is understandable in light of the fact that the events of January 6th directly involved many citizens of the district. Moreover, the judge randomly selected to preside over this case has a long history of bias against Trump and his supporters, and her law firm has a long history of conflicts and corruption.

It is imperative, therefore, that in a case where the incumbent president has urged his Attorney General to pursue his political opponent aggressively, that all efforts must be made to ensure fairness. Prosecutors must lean over backwards to persuade the public that partisan considerations played absolutely no role in the decision to indict. Agreeing to a change of venue and judge would go a long way toward seeing that justice is done. Change of venue motions are only rarely granted, as are motions to recuse a selected judge. But this is a case where justice demands that these motions be granted, both in the interests of the defendants and in the interests of justice. The government should not oppose such motions, though they generally do if it gives them a tactical advantage.

It is likely therefore that these defense requests will be denied by the trial judge. If an unfair trial results in a conviction, the impact will already be felt, even if it is reversed on appeal after the election, as the prosecution likely anticipates. If the prosecution case is strong, it should have no fear of a jury and judge outside of DC. As the Supreme Court has repeatedly said: the job of a prosecutor is not merely to maximize the chances of winning, but to assure that he wins fairly and justly. In order to achieve that goal, the prosecutors in this case should not oppose defense motions for a change of venue and judge. Nor should it oppose an appeal if the trial judge denies these well-founded defense motions.

In all likelihood, prosecutors will vigorously fight all efforts by the defense to assure an impartial jury and judge, because they want every advantage that will help them secure a victory. They will point to defense efforts to secure advantages for their client and argue that the adversary system of justice requires them to do the same. But that is not the law. The Supreme Court clearly delineated a different role for prosecutors who represent the government: “The United States Attorney is the representative not of an ordinary party to a controversy, but of a sovereignty whose obligation to govern impartially is as compelling as its obligation to govern at all, and whose interest, therefore, in a criminal prosecution is not that it shall win a case, but that justice shall be done.” The prosecutors in the January 6th case should study this opinion before they deny Trump an impartial jury.

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Yeah, he can get a Pyrrhic victory in Florida.

DOJ Slapped By Judge In Trump Documents Case (ZH)

The judge overseeing former President Trump’s classified documents case, Florida District Judge Aileen Cannon, rebuked federal prosecutors on Monday while striking down two of their filings. DOJ special counsel Jack Smith has been directed by the court to unseal two filings and to provide a comprehensive legal rationale for a Washington, D.C. grand jury’s involvement in the investigation. Specifically, Cannon, a Trump appointee, has ordered Smith to explain “the legal propriety” of using a DC Grand Jury in a Florida matter. “The Special Counsel states in conclusory terms that the supplement should be sealed from public view ‘to comport with grand jury secrecy,’ but the motion for leave and the supplement plainly fail to satisfy the burden of establishing a sufficient legal or factual basis to warrant sealing the motion and supplement,” the order reads.

“Among other topics as raised in the Motion, the response shall address the legal propriety of using an out-of-district grand jury proceeding to continue to investigate and/or to seek post-indictment hearings on matters pertinent to the instant indicted matter in this district,” the order adds. Canon was responding to the special counsel’s motion for a “Garcia” hearing, where Smith’s team addressed a potential conflict of interest posed by Stanley Woodward representing defendant Walt Nauta and individuals who could be called to testify in the classified documents case, the Daily Caller reports.

“Trump and Nauta are scheduled to be arraigned Aug. 10 for the classified documents case. Smith issued a superseding indictment July 27 with additional charges for Trump and new charges for Mar-a-Lago employee Carlos De Oliveira who allegedly moved boxes around Trump’s Florida estate. Smith indicted Trump Tuesday for allegedly contesting the 2020 presidential election results and for his alleged role in the Jan. 6, 2021 Capitol riot. The former president pleaded not guilty at an arraignment in Washington, D.C. Thursday and accused Smith of “persecution” for his latest charges.” -Daily Caller. Separately, a grand jury in Washington DC indicted Trump last week on four counts over alleged efforts to overturn the 2020 election.

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A gag order on a campaignig presidential candidate. What’s next? That’s right: jailtime.

Trump Pushes Back On Proposed Gag Order (RT)

Lawyers for former US President Donald Trump have challenged a protective order requested by prosecutors on his election interference case, insisting that only “genuinely sensitive” material should be kept from the public eye. Trump’s legal team responded to the proposed order in a court filing on Monday night, saying that any attempt to prohibit the defense from publicly discussing material obtained from the government, including “exculpatory documents,” would violate Trump’s constitutional rights. “In a trial about First Amendment rights, the government seeks to restrict First Amendment rights,” the attorneys said.

“Worse, it does so against its administration’s primary political opponent, during an election season in which the administration, prominent party members, and media allies have campaigned on the indictment and proliferated its false allegations.” The filing went on to accuse special counsel Jack Smith, who is leading the election interference case against Trump, of seeking to use the court as a “censor” to impose “content-based regulations” on the former commander in chief, instead calling for a “more measured approach.”The defense lawyers suggested an amended protective order that would “shield only genuinely sensitive materials,” rather than “all documents produced by the government, regardless of sensitivity,” as proposed by the prosecution.

Though the attorneys noted they had reached a deal with prosecutors on a “small number” of revisions to the order, they said the government would be unlikely to agree to their full proposal, citing communications with Smith’s team. That leaves the matter to Judge Tanya Chutkan, who will decide on the order sometime before the next hearing scheduled on August 28. Trump was indicted last week on multiple criminal charges linked to alleged interference in the 2020 election, to which he has pleaded not guilty. The ex-president has slammed the case as politically motivated, claiming he was unfairly targeted to remove him as a contender in the 2024 presidential race.

“How can my corrupt political opponent put me on trial(s) during a campaign that I am winning (by a lot!),” Trump said in an all-caps social media post on Monday, apparently referring to President Joe Biden. He added that the legal proceedings are “forcing me to spend time and money away from the ‘campaign trial’ in order to fight bogus accusations.” In addition to the latest case, Trump also faces two other criminal lawsuits launched earlier this year, including dozens of felony charges related to his alleged mishandling of classified documents after leaving office, as well as another linked to alleged hush-money payments made to porn actress Stormy Daniels during his 2016 campaign. He has pleaded not guilty in those cases as well, insisting the charges are part of a “witch hunt” against him.

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Yes, they love him in Georgia, too.

Trump May Face Racketeering Charges in Fulton County Election Case (Sp.)

To date, former US President Donald Trump has faced down three indictments tied to dealings that took place while in his official capacity as commander-in-chief. The trio of cases are currently linked to hush money payments, the mishandling of classified documents and alleged election interference efforts. A looming fourth indictment against former US President Donald Trump may see Fulton County District Attorney Fani Willis invoke Georgia’s RICO Act and hit Trump with racketeering charges over his alleged efforts to interfere in the state’s 2020 election results. The state-level act echos much of the federal Racketeer Influenced and Corrupt Organizations Act of 1970, which has largely been used to take down organized crime entities involving mob connections and cartel groups.

Legal scholars noted Willis may utilize the state’s RICO Act as she has a proven success rate in such cases, and because it would allow her to connect various instances in which Trump associates across the US attempted to keep the one-time president in office. Additionally, officials pointed out that Willis early on in her investigation retained John Floyd, who is known as a leading expert on racketeering offenses. “It [invoking Georgia’s RICO Act] gives prosecutors lots of choices as far as venue goes, and it leads to very long complicated trials that wear down defense attorneys,” said Andrew Fleischman, a defense lawyer in Atlanta, to a US media.

The impending grand jury proceedings, scheduled to convene within the next two weeks, will decide whether criminal charges are warranted against Trump and his GOP allies. Already facing federal charges, the election interference case in Georgia proves the second such investigation into the Trump case over the 2020 presidential election. To date, Trump’s legal battles span multiple states, including New York and Florida, where he pleaded not guilty to all charges.

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“The Russians are now fighting with weapons they didn’t have 18 months ago because they didn’t exist 18 months ago.

And that to me is the most impressive thing..”

Ukraine’s Counteroffensive May ‘Run Its Course in the Next Few Weeks’ (Sp.)

Kremlin spokesman Dmitry Peskov earlier said that Kiev’s counteroffensive, which was launched on June 4, has been unsuccessful on all fronts as Russia continues its special military operation in Ukraine. The next few weeks will see the Ukrainian counteroffensive “run its course”, former International Monetary Fund (IMF) economist and Bank of America strategist David Woo has told the Russian media. Woo said that he was “really impressed” with the fact that that “the Russian military technology has literally been going through a revolution every three months” and “the Russians are constantly learning from their mistakes.” “The Russians are now fighting with weapons they didn’t have 18 months ago because they didn’t exist 18 months ago.

And that to me is the most impressive thing, […] whereas the West is still walking around in the same circle, Russia’s getting better and better, and this war is gonna [sic] be won by technology in the end,” the former IMF economist argued. He suggested that even though “the Ukrainians are good fighters,” Russia will eventually “crush them”. According to Woo, “if Russia crushes Ukraine, that will be the end of American hegemony, as we know.” Ukraine’s much-hyped counteroffensive kicked off on June 4 after months of delays over a lack of military supplies from Western donors. Russian President Vladimir Putin underscored last month that Ukraine’s counteroffensive, which he said claimed the lives of “tens of thousands” of Ukrainian servicemen, had yielded no results.

“Neither the colossal resources that were pumped into the Kiev regime, nor the supply of Western weapons, tanks, artillery, armored vehicles and missiles helped. The delivery of thousands of foreign mercenaries and advisers who were most actively used in attempts to break through the front of our army did not help either,” Putin told a Russian Security Council meeting at the time. Kremlin spokesman Dmitry Peskov, for his part, said that “the Kiev regime has no successes” and “is in a very difficult situation.” “The special military operation continues. It is obvious that the counteroffensive is not working out the way it was intended in Kiev,” Peskov told reporters. He was echoed by the Russian Defense Ministry, which in turn, said that Ukrainian troops kept trying, but were failing to advance as they continue to suffer heavy losses in men and materiel. A number of Western media outlets also pointed to the unimpressive results of Kiev’s counteroffensive, admitting that its progress was “slower than desired.”

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‘No Compromise’ = ‘No Ukraine’.

‘No Compromise’ With Moscow, Kiev Vows (RT)

The government in Kiev has not given up on its “peace formula” and rejects all compromise positions, Ukrainian President Vladimir Zelensky’s adviser Mikhail Podoliak announced on Monday. His comments came after the Wall Street Journal suggested Ukraine had softened its stance during the peace conference in Saudi Arabia. “The only basic ‘foundation for negotiations’ is President Zelensky’s Peace Formula,” Podoliak tweeted. “There can be no compromise positions such as ‘immediate ceasefires’ and ‘negotiations here and now’ that give Russia time to stay in the occupied territories. Only the withdrawal of Russian troops to the 1991 border.”

Ukraine accuses Russia of “occupying” not just Donetsk, Lugansk, Zaporozhye and Kherson – four regions that chose to join Moscow last year – but also Crimea, which voted overwhelmingly to rejoin Russia after the 2014 US-backed coup in Kiev. “Any scenario of a ceasefire and freezing of the war in Ukraine in the current disposition will mean only one thing – Russia’s actual victory and [President Vladimir] Putin’s personal triumph,” Podoliak added several hours later. “This would be a great defeat for the Western world and the end of the current global security order.”

He also claimed that Moscow would use a “Minsk 3” to rearm and prepare for the “next round” of war, which would return “bigger, bloodier, and better prepared” as soon as “political leaders in key Western countries change.” Minsk 1 and Minsk 2 were ceasefires mediated by Paris and Berlin in 2014 and 2015, after Kiev failed to crush the rebellion in Donetsk and Lugansk by force. The German and French leaders involved in the talks admitted last year that they were buying time so NATO could arm Ukraine for a war against Russia. Podoliak did not specify what prompted his tweets. However, a Wall Street Journal article about the weekend’s talks in Jeddah – which suggested Ukraine had given up on its hardline position – circulated widely on Russian-language social media on Monday.

The talks, to which Russia was not invited, did not appear to accomplish anything. However, the Journal quoted “a senior European official” and two diplomats to report that Ukraine “didn’t push again for its peace plan to be accepted” and “didn’t press the point” about the demand for Russian withdrawal. Moscow has rejected Zelensky’s “peace formula,” a set of ten demands amounting to Russia’s unconditional surrender, as “a useless ultimatum” that only serves to prolong the hostilities. “There can be no negotiation process in the current disposition. The status quo must be changed on the battlefield. This means… more weapons, missiles and aircraft,” Podoliak demanded on Monday afternoon. The US and its allies have already supplied Ukraine with over $100 billion worth of weapons, ammunition and equipment, arguing that Russia “must lose” while insisting they are not actually involved in the conflict.

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Hard to believe, but probably true. It’s what you get when all you see is propaganda.

The West Really Believes Russia Is On The Verge Of ‘Collapse’ (Andrey Sushentsov)

The ongoing Western narrative that Russia is constantly on the verge of imminent collapse stems from the persistent perception that the state is vulnerable to internal combustion because of its perceived fragility, vast territory and critical imbalances. The current crisis serves as a serious stress test for Russia. However, in reality, it has already revealed the country’s remarkable adaptability. Moscow’s current strategic foreign-policy objectives have remained unchanged since they were formulated in November-December 2021. Originally intended to be solved through diplomatic channels, they encompass not only Ukraine but also Russia’s broader relations with the US and the West. An agreement could have been reached through negotiations but, unfortunately, the West did not take this route. As a result, Russia has resorted to military means to achieve its vital interests.

Russia’s plans revolve primarily around ensuring the demilitarization of Ukraine and preventing any formal alliance between Kiev and Washington, as well as countering potential military links with the NATO military bloc. Moscow’s determination to get what it wants remains unwavering, and it is prepared to use all available means. If negotiations resume in the future, it is likely that the issues that figured prominently in the November-December 2021 diplomatic contacts will be revisited. Unfortunately, the dominant narrative in Western countries often focuses on Russia’s supposed imminent collapse, ignoring its will to overcome the crisis. This narrative appears to be fueled by Western politicians’ belief in the country’s perceived weaknesses, which encourages the Western establishment not to seek an end to the conflict.

Based on long-term observations of the situation on the ground, especially after the infamous ‘Prigozhin revolt,’ one can conclude that there are still no clear signs of an impending crisis in Russia. On the contrary, the current state of the country has exceeded expectations in many areas – economic, social, demographic and military, given Russia’s ability to stand up to NATO’s formidable military machine. The current crisis situation serves as a serious stress test, assessing Moscow’s ability to make informed decisions, demonstrate social resilience, use resources effectively, adapt its economic model, sustain its political system, manage information strategies and overcome foreign-policy challenges. Undoubtedly, Russia is under enormous pressure and, like any nation state, is subject to factors that reveal both strengths and weaknesses.

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“Businesses that can’t sell anything stop being businesses..”

Normies Awake! (Kunstler)

What news is suppressed? That the USA is worse than dead broke. That the people were poisoned, apparently on-purpose. That the spectral “Joe Biden” sold out our country. That the war we started in Ukraine, on purpose, for no good reason, is about to be lost, and with it our standing around world. That there actually is such a criminal organism as the Blob at large in our government, responsible for the astounding abnormality immersing us. But never mind all that… for now, just go see Barbie. Have a clam roll, a dip in the ocean, another margarita…. September will be here soon enough.

Eventually, the official perversion of money — especially of borrowing an awesome lot of it with no intention of ever repaying — leads to the unhappy circumstance of money disappearing until nobody has any money. And by such, the broke-ness of the government transmogrifies to a whole land full of broke people. Many banks go broke as well. Even the high-fliers who hoarded things that purport to represent money go broke. Then, nobody has the means to buy anything. Businesses that can’t sell anything stop being businesses. After a while, no activity is meaningful except grubbing in the soil to grow some food, or stealing it from those who grubbed and grew it. By then, you can barely even call it a society.

By September, we’ll have some idea where all that is heading. The bond market is wobbling because the government can’t stop increasing its spending. America issues more and more bonds to borrow ever more money, but to the world’s bond-buyers (a.k.a. lenders), what used to be considered virtually risk-free now looks like a bad bet. So, the enticement to buy, which is called the interest rate, has to go up. But as it goes up, the cash value of existing bonds goes down (who wants the older bonds when the newer ones pay more?)

The holders of bonds are mainly big institutions: banks, pension funds, insurance companies, sovereign wealth funds (other countries). They put their large holdings into bonds because in normal times they are safe and dependable investments. But these are abnormal times. When the value of their bonds goes down a lot, the value of their reserves goes down. And when those reserves get reduced too much in relation to the institutions’ liabilities (what they owe), the institutions go bankrupt. When that happens, the people who are vested in those institutions lose their money, too, and end up having to sell stocks and other property to meet their obligations. This ends up looking like what we call “a crash.” It will get Normies’ attention.

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On their way to becoming the no. 1 party.

The EU Is A ‘Failed Project’ – Right-wing “Alternative For Germany” Party (RT)

The European Union’s migration, climate, and monetary policies have “completely failed,” according to a policy document adopted by the right-wing Alternative for Germany (AfD) party on Sunday. However, the party aims to change the EU from within rather than withdraw from the bloc. AfD delegates adopted the document at a party conference in the eastern city of Magdeburg on Sunday. The paper describes the EU as a “failed project,” and calls for the bloc to be reformed as a “federation of European nations,” with significant sovereignty ceded back to its member states. “The EU and the globalist elites that support it have strayed from the original idea of the founding fathers of a European community adopted many years ago,” the document states, citing the 2007 Lisbon Treaty – which gave the EU the power to act as a single legal entity and made EU law supersede national law – as the moment when the bloc became “an EU super state.”

Among a lengthy list of reforms, the AfD is proposing that the EU strengthen its external borders, lessen its military reliance on the US by following a policy of “strategic autonomy,” and protect the “diversity of cultures and traditions of the peoples of Europe” from immigration. While a draft version of the document released in June called for the “orderly dissolution of the EU,” this language is absent from the final version. The party also chose 35 candidates to contest next year’s European Parliament elections at the Magdeburg conference. The list is led by Maximilian Krah, who has been an MEP since 2019. The AfD currently holds nine seats in the parliament, and is the third-largest German party in the EU legislature.

At home, the AfD is currently polling at a record high of 21%, according to Politico. This figure puts the party ahead of Chancellor Olaf Scholz’s Social Democrats (SPD) and behind only former chancellor Angela Merkel’s Christian Democratic Union (CDU). However, Germany’s mainstream parties have repeatedly ruled out entering into coalition with AfD, and a government-funded watchdog group recently called for the party to be banned for its “racist and nationalist” positions. The latest polling figures suggest a doubling in the AfD’s support since 2021, when it garnered 10.3% of votes in the parliamentary elections. This surge in popularity comes as Germany’s economy reels in the wake of Berlin’s decision to impose sanctions on Russia, which was formerly the country’s leading energy supplier. At a rally last year, AfD co-leader Tino Chrupalla accused Scholz’s government of waging an “economic war” on the German people by cutting the country off from Russian energy imports.

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“This is conclusive evidence that the Ukrainian state is covering up and encouraging this bloody business,” Zakharova stated..”

Ukraine Leader in Black Market of Human Organ Trafficking – Zakharova (Sp.)

Rampant corruption and lawlessness in Ukraine have effectively turned the country into a veritable paradise for organ traffickers eager to take advantage of cheap and abundant supply of human tissue. While reports about organs being illegally removed from the bodies of the deceased in Ukraine started emerging as early as in the late 1990s amid the decline of the Ukrainian economy , the illicit organ harvesting and trade in the country started becoming more widespread during the 2000s, noted Russian Foreign Ministry spokeswoman Maria Zakharova. In her op-ed in one of the Russian newspapers, Zakharova pointed out that the 2014 coup in Kiev and the armed conflict in Donbass that followed further exacerbated the problem, with OSCE confirming the discovery of the bodies with removed internal organs in mass graves located in the conflict zone.

Things have taken a turn for the worse since the escalation of the Ukrainian conflict in February 2022, while the laws passed by Ukrainian legislators in recent years greatly simplify the work of black market transplant specialists. For example, Zakharova points out, the Law No. 5831 passed by the Ukrainian parliament on December 16, 2021, effectively waives the requirement for a written consent of a living donor or their relatives for organ donation. “There is no need to authenticate signatures, either. In effect, even the removal of organs from children is permitted. The procedure for removing organs from the deceased who did not consent to donation while living has been significantly simplified,” Zakharova surmised.

She added that, under the Ukrainian legislation, the person responsible for the burial of a deceased, such as a head doctor at a hospital or a military unit’s commander, could grant permission for the removal of tissues from the corpse. Furthermore, private clinics in the country have also been granted the right to perform transplantation, while the Law No. 5610 adopted by Ukraine’s parliament on April 14, 2022, made transplantation exempt from VAT. Posthumous organ donations and the sale of human organs abroad have also been legalized in Ukraine. Massive casualties taken by Ukraine’s Armed Forces amid the escalation of the Ukrainian conflict resulted in a steady supply of fresh corpses that could be harvested for organs, leading to the emergence of hearts, livers, kidneys and other body parts of slain Ukrainian soldiers on the darknet marketplaces, Zakharova noted citing media reports.

One black market dealer reportedly claimed that a heart could be procured quickly for €25,000 while kidneys may be obtained for €12,000. The delivery, limited to the EU countries, would be made in a medical box within 48 to 60 hours, either to a predetermined location or directly to the recipient. Zakharova also claimed that people related to the infamous Kosovo Liberation Army – a militant group whose members faced allegations of illegal organ harvesting in the past – may own this illicit organ marketplace or at least have dealings with it. Aside from Ukrainian soldiers, the children of Ukraine also risk falling prey to illicit organ traffickers. For example, in June 2023 a member of a certain charity was detained on the border between Ukraine and Slovakia.

According to Zakharova, the detainee was involved in the trafficking of Ukrainian children abroad, with some of these children trafficked for the purpose of organ transplantation. Despite the severity of the accusations against him, the suspect was released on a 1 million hryvnias (about $27,000) bail and promptly disappeared. “This is conclusive evidence that the Ukrainian state is covering up and encouraging this bloody business,” Zakharova stated, adding that people close to Ukrainian President Volodymyr Zelensky may be involved in this sordid trade.

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Sickos.

UK’s NHS Raises Age For Government-Funded Transgender Treatments To Seven (ZH)

Children covered by the services will be offered psychological support and therapy to focus on issues that may have led to feelings concerning their gender, however health experts warn that the new rule could still put children with mental health struggles on a “pathway to medical transition.” The concerns are amplified by the potential consequences of labeling a child’s difficulties as gender-related, potentially pushing them towards a predetermined path of treatment. The decision to implement these changes stems from the NHS’ decision to shutter the Tavistock transgender clinic. Dr. Hilary Cass’ review deemed the clinic as unsafe, raising concerns that young individuals were being rapidly pushed into a medical framework without adequate consideration of alternative factors such as autism and mental health.

“The clinic is being replaced by a set of regional centres that will be led by medical doctors, rather than therapists, and consider the impact of other conditions such as autism and mental health issues. The move came amid growing concern about the impact of gender ideology on children, including in schools where some were being socially transitioned without their parents’ consent. NHS England said that a new service was needed because there was “scarce and inconclusive evidence to support clinical decision-making” at the Tavistock clinic.” -Telegraph

The shift in approach reflects the growing unease around the impact of gender ideology on children. Reports of children undergoing social transitions without parental consent in schools have fueled concerns over the potential consequences of premature interventions. While the move toward evidence-based decision-making is welcomed by many, questions linger about the potential long-term effects of early intervention. Critics argue that more research is needed to fully understand the ramifications of puberty blockers, especially for young patients whose bodies and minds are still developing.

Under the new plans, “Children under seven years of age may not be expected to have sufficiently developed their intellectual understanding of, and comprehension of, sex and gender to be able to understand the reasons for, and potential consequences of, a referral to a specialist gender incongruence service.”” But, according to the UK, by the age of seven, children will “be more established within school, and education professionals and school nurses will be able to contribute to a general observational view as to the appropriateness of a referral.” Right. Previously, children as young as three were being treated by Tavistock, with an average of three children under the age of seven having been referred each month.

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“..scared at times for my safety and, overwhelmingly, for my family’s safety.”

For saying a woman is a woman. Why not try to ban her work outright?

Museum Bans JK Rowling From Harry Potter Exhibit (RT)

The Museum of Pop Culture in Seattle has removed any references to Harry Potter author JK Rowling from an exhibition celebrating the fictional wizard, due to her “super hateful and divisive” comments about the transgender community. “There’s a certain cold, heartless, joy-sucking entity in the world of Harry Potter and, this time, it is not actually a Dementor,” the exhibit’s project manager Chris Moore, who is transgender, wrote in a blog explaining the decision to axe Rowling from the museum. Moore added: “This certain person is a bit too vocal with her super hateful and divisive views to be ignored.” The blog post also explained that the series creator’s absence is a short-term measure to “reduce her impact” while the museum determines its “long-term practices.”

According to the Daily Mail newspaper, the Harry Potter exhibit remains on display but without any mention whatsoever about the creator of the series, which has sold over 500 million books globally since 1997. JK Rowling was inducted into the museum’s hall of fame in 2018. In a statement, the museum said that it is “proud to support our employees and unequivocally stands with the nonbinary and transgender communities.” Rowling initially courted controversy in 2019 when she issued a message on social media in support of a British woman who’d lost her job after she herself tweeted that a woman could not change her biological sex. “I absolutely knew that if I spoke out, many people who love my books would be deeply unhappy with me,” the author said in a podcast interview earlier this year. She added that the backlash against her views has led to her being “scared at times for my safety and, overwhelmingly, for my family’s safety.”

Rowling was absent last year at events to celebrate the 25th anniversary of the release of the first Harry Potter book – with each of the film series’ three stars having expressed their opposition to her statements about transgender people. Daniel Radcliffe, the actor who played Harry Potter in the eight movies that have taken in more than $7.7 billion at the box office globally, said that he was “hurt” by Rowling’s comments. Rupert Grint, who played Ron Weasley, also said, “Trans women are women, trans men are men,” while Emma Watson announced a donation to a transgender charity in the wake of Rowling’s comments. Rowling is one of the world’s most successful authors. In 2008, nine years after the release of the first Harry Potter book, she was named by Forbes magazine as the world’s highest-paid author.

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koi

 

 

Eat bugs

 

 

Hey Joe

 

 

 

 

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Aug 172016
 
 August 17, 2016  Posted by at 9:15 am Finance Tagged with: , , , , , , , , , ,  1 Response »


Harris&Ewing Buying Army surplus food sold at fish market 1919

Global Central Banks Dump US Debt At Record Pace (CNN)
The $6 Trillion US Public Pension Sinkhole (MW)
UK Dividends at Risk as Pension Holes Deepen (BBG)
Japan Official Threatens Action If Yen Rises Too Sharply (WSJ)
Bank Of Japan Buying Sends Nikkei 225 To Highest In 18 Years (ZH)
The “Housing Crisis” in San Francisco Strangles Demand (WS)
Chinese Investors Are Largest International Buyers Of US Real Estate (Forbes)
Australia Central Bank Governor In Complete Bubble Denial (BI)
“Racketeering Is Ruining Us” (Kunstler)
Iceland Prepares To End Currency Controls (Tel.)
‘I Want You Back,’ Cries East Europe as Emigrant Tide Erodes GDP (BBG)
Tsipras Revives Greek Bid To Seek Wartime Reparations From Berlin (Kath.)
Turkey To Free 38,000 From Prisons To Make Space For Alleged Coup Plotters (AP)
German Officials Say Erdogan Supports Militants (DW)

 

 

Concerted effort to relieve the USD?

Global Central Banks Dump US Debt At Record Pace (CNN)

Global central banks are unloading America’s debt. In the first six months of this year, foreign central banks sold a net $192 billion of U.S. Treasury bonds, more than double the pace in the same period last year, when they sold $83 billion. China, Japan, France, Brazil and Colombia led the pack of countries dumping U.S. debt. It’s the largest selloff of U.S. debt since at least 1978, according to Treasury Department data. “Net selling of U.S. notes and bonds year to date thru June is historic,” says Peter Boockvar, chief market analyst at the Lindsey Group, an investing firm in Virginia. U.S. Treasurys are considered one of the safest assets in the world. A lot of countries keep their cash holdings in U.S. government bonds.

Many countries have been selling their holdings of U.S. Treasuries so they can get cash to help prop up their currencies if they’re losing value. The selloff is a sign of pockets of weakness in the global economy. Low oil prices, China’s economic slowdown and currencies losing value are all weighing down global growth, which the IMF described as “fragile” earlier in the year. Despite all the selling by these countries, private demand for the bonds has sky rocketed. Demand is so high that the U.S. can afford to pay historically low interest rates. The 10-year U.S. Treasury hit a record low of 1.34% earlier this year, before bouncing back to about 1.58%, currently.

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Nice try, but I’m not so sure a different way of accounting would make the hole itself any smaller.

The $6 Trillion US Public Pension Sinkhole (MW)

U.S. state and local employee pension plans are in trouble — and much of it is because of flaws in the actuarial science used to manage their finances. Making it worse, standard actuarial practice masks the true extent of the problem by ignoring the best financial science — which shows the plans are even more underfunded than taxpayers and plan beneficiaries have been told. The bad news is we are facing a gap of $6 trillion in benefits already earned and not yet paid for, several times more than the official tally. Pension actuaries estimate the cost, accumulating liabilities and required funding for pension plans based on longevity and numerous other factors that will affect benefit payments owed decades into the future.

But today’s actuarial model for calculating what a pension plan owes its current and future pensioners is ignoring the long-term market risk of investments (such as stocks, junk bonds, hedge funds and private equity). Rather, it counts “expected” (hoped for) returns on risky assets before they are earned and before their risk has been borne. Since market risk has a price — one that investors must pay to avoid and are paid to accept — failure to include it means official public pension liabilities and costs are understated. The current approach calculates liabilities by discounting pension funds cash flows using expected returns on risky plan assets. But Finance 101 says that liability discounting should be based on the riskiness of the liabilities, not on the riskiness of the assets.

With pension promises intended to be paid in full, the science calls for discounting at default-free rates, such as those offered by Treasurys. Here’s the problem: 10-year and 30-year Treasurys now yield 1.5% and 2.25%, respectively. Pension funds on average assume a 7.5% return on their investments – and that’s not just for stocks. To do that, they have to take on a lot more risk – and risk falling short. Much debate focuses on whether 7.5% is too optimistic and should be replaced by a lower estimate of returns on risky assets, such as 6%. This amounts to arguing about how accurate is the measuring stick. But financial economists widely agree that the riskiness of most public pension plans liabilities requires a different measuring stick, and that is default-free rates.

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“It’s happening to pension schemes but will feel like it’s happening to the whole company.”

If these companies cut dividends, investors will sell their shares. But they also will if and when true pensions deficits become public. Can’t win.

UK Dividends at Risk as Pension Holes Deepen (BBG)

Workers have long fretted about funding gaps in U.K. companies’ retirement plans. Now investors are starting to join them. Since the U.K.’s June 23 vote to leave the European Union, pension deficits have swelled as record-low U.K. government bond yields have reduced returns on fund investments. That has added to pressure on companies facing gaps in their retirement funding, including telecommunications provider BT, grocer Tesco and military contractor BAE. With little prospect of higher returns after the Bank of England cut interest rates this month, companies may have to reduce dividend payments to raise pension contributions and close funding gaps. That means investors, who have been insulated from the U.K.’s pension crisis, could feel the effects.

“There is no doubt that shareholders of companies with major pension deficits will be concerned,” said Raj Mody, who heads PricewaterhouseCoopers’ pension consulting group. “It’s happening to pension schemes but will feel like it’s happening to the whole company.” Companies in the FTSE 100 paid around five times as much in dividends as they provided in contributions to defined-benefit pension plans last year, a report published Tuesday by consultant Lane Clark & Peacock showed. Through July 31 the FTSE 100 companies’ combined pension deficits – the amount by which liabilities outstrip assets – increased to £46 billion ($59.7 billion) from £25 billion a year earlier, Lane Clark said. Total pension liabilities of the 350 largest U.K. companies as a percentage of market capitalization rose to 40% in June, the highest level in the last 10 years except during the global financial crisis, according to Citigroup.

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Like what? QE?

Japan Official Threatens Action If Yen Rises Too Sharply (WSJ)

Japan’s top currency bureaucrat issued a fresh warning Wednesday over the soaring yen, saying the government would have to act should it rise too sharply. “If there are excessively sharp movements, we will have to take action,” Vice Finance Minister for International Affairs Masatsugu Asakawa told reporters at the ministry’s headquarters. The comment was likely a veiled threat of direct intervention in the currency market to force lower the yen — a step increasingly seen as undesirable manipulation among wealthy economies. The remark followed the yen’s surge Tuesday beyond the 100 mark against the dollar. A higher yen reduces Japanese manufacturers’ repatriated profits and undermines a positive growth cycle sought by Prime Minister Shinzo Abe. The dollar rose against the yen following Asakawa’s remark. Japan last intervened to undercut the yen in 2011.

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Abe and Kuroda are a success story.

Bank Of Japan Buying Sends Nikkei 225 To Highest In 18 Years (ZH)

Having noted the farcical share ownership of The Bank of Japan (biggest shareholder in 55 companies) as Kuroda's ETF-buying goes to '11', we thought it interesting that the distortion caused by these "pick a winner" purchases has sent Japan's Nikkei 225 to its richest relative to Japan's Topix index in 17 years. As Bloomberg notes, Japan’s two major equity benchmarks have moved mostly together over the years. That changed this month following the latest meeting by the Bank of Japan, which boosted its purchases of exchange-traded funds as part of its easing program.

The BOJ’s heavier allocation to ETFs tracking the Nikkei 225 has helped push the gauge to its highest level versus the Topix index in 18 years.

 

Which – as we noted previously – leaves one big question… just how will the BOJ ever unwind its unprecedented holdings of not only bonds, which are now roughly 100% of Japan's GDP, but also of stocks, without crashing both the bond and the stock market. And then we remember, that the BOJ will simply never unwind any of its "emergency" opertions just because nobody actually thought that far, plus the whole point of the exercise is hyperinflation or bust, as the sheer lunacy of Japan's authorities is exposed for the entire world to see, leading to the terminal collapse of faith in the local currency. With every passing day, we get that much closer to said terminal moment.

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Time for a hole new approach to housing. It should be a basic right, not some financial bet.

The “Housing Crisis” in San Francisco Strangles Demand (WS)

Here’s the other side of central-bank engineered asset price inflation, or “healing the housing market,” as it’s called in a more politically correct manner: San Francisco Unified school district, which employs about 3,300 teachers, has been hobbled by a teacher shortage. Despite intense efforts this year – including a signing bonus – to bring in 619 new teachers to fill the gaps left behind by those who’d retired or resigned, the district is short 38 teachers as of Monday, when the school year started. Others school districts in the Bay Area have similar problems. For teachers, the math doesn’t work out. Average teacher pay for the 2014-15 school year was $65,000. And less after taxes. But the median annual rent was $42,000 for something close to a one-bedroom apartment.

After taxes and utilities, there’s hardly any money left for anything else. A teacher who has lived in the same rent-controlled apartment for umpteen years may still be OK. But teachers who need to find a place, such as new teachers or those who’ve been subject of a no-fault eviction, are having trouble finding anything they can afford in the city. So they pack up and leave in the middle of the school year, leaving classes without teachers. It has gotten so bad that the Board of Supervisors decided in April to ban no-fault evictions of teachers during the school year. Yet renting, as expensive as it is in San Francisco, is the cheaper option. Teachers trying to buy a home in San Francisco are in even more trouble at current prices. And it’s not just teachers!

This aspect of Ben Bernanke’s and now Janet Yellen’s asset price inflation – and consumer price inflation for those who have to pay for housing – is what everyone here calls “The Housing Crisis.” As if to drive home the point, so to speak, the California Association of Realtors just released its Housing Affordability Index (HAI) for the second quarter. It is based on the median house price (only houses, not condos), prevailing mortgage interest rate, household income, and a 20% down payment. In San Francisco, the median house price – half sell for more, half sell for less – is $1.37 million. According to Paragon Real Estate, if condos were included, the median price would drop to $1.2 million.

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Wonder what Trump thinks about this.

Chinese Investors Are Largest International Buyers Of US Real Estate (Forbes)

Over the past five years, Chinese buyers spent about $17 billion on U.S. commercial real estate while spending roughly $93 billion on homes in the U.S. over the same period. Last year they paid about $832,000 per U.S. home in high profile cities like New York, Chicago, Miami, Los Angeles, Las Vegas and San Francisco. The Society indicated that Chinese purchase of residential property is primarily motivated by a desire for second homes; primary residences for those moving to the U.S. on EB-5 investor visas or as rental or resale investments. Concerns about the stability of the renminbi exchange rate have accelerated the pace of Chinese commercial investment abroad since the middle of 2015.

Motivations aside, China’s interest in investing in the U.S. has legs that carry implications for our enterprises and communities alike. When coupled with the 100 million mainland Chinese travelers expected to visit the U.S. annually by 2020 it’s clear the U.S. travel and hospitality industry and business community at large need to prepare for a changing landscape. For the travel and hospitality industry, it won’t be long before we see mainland Chinese hoteliers exporting their national lodging brands to the U.S. and other countries to complement the high-profile global brands in which they’ve invested. As their countrymen increasingly travel the world, just like generations of Americans and Europeans before them, they will want to stay in hotels with which they’re familiar back home.

Soon, it will be commonplace to find hotel brands developed by hoteliers like Jinling Hotels & Resorts or Jin Jiang International Holdings sitting side by side U.S. brands like Hilton, Sheraton, Hyatt or Marriott in cities throughout the U.S. Across the country, already more than 100,000 Americans get their weekly paychecks from a company based in China. That number will grow exponentially in coming years. As mainland Chinese investors continue to buy U.S. companies and brands and establish their own enterprises here, they will be eager to become members and leaders of the local chamber of commerce, to join the neighborhood PTA, represent their companies on area social and charitable boards and so on—just as our nationals who work and live abroad do in the countries in which they reside.

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And so is the author of this piece. Stunning. The heading is mine.

Australia Central Bank Governor In Complete Bubble Denial (BI)

The surge in property prices, especially in Sydney and Melbourne has made home owners extremely wealthy but cruelled the prospect of home ownership for many who aren’t already in the market. That’s especially true for younger Australians. That is causing some intergenerational issues in housing, which is a bigger question than “is there a housing bubble or not” according to RBA governor Glenn Stevens in the full transcript of his interview with the Australian and Wall Street Journal. Stevens acknowledged “it’s always been hard to be that cohort that’s trying to enter the market. There’s always been a hurdle. It may be getting worse, though part of this is – I mean, there’s a lot of things happening here”.

One of things that’s happening, Stevens believes, is that a chunk of the wealth home owners think they are sitting on in their house will prove ephemeral. That’s because if they want their children to own a home then they are going to have to give them some of that cash to do so. Here’s Stevens: “I think that a lot of people of my generation are actually going to find themselves, if they haven’t already, helping their children into the housing market because that may be almost the only way that their children can enter the Sydney market, anyway, and be not too far from mum and dad. And I suspect that will happen a lot, and that, of course, means that for people of my age, that the wealth we think we have in our house, actually, we don’t have quite as much as we thought because we’re going to have to give some of it to the next generation.”

He acknowledged that for renters locked out of the property market this could mean the issue perpetuates into the next generation. But his point about the shared wealth of families is also an important one for the future. It suggests for many children of those with property, who feel locked out of the market, the problem of home ownership can be self-curing. That’s because, as Stevens notes, older Australians can share their wealth now. [..] With the nuclear family shrinking, and the number of children and grandchildren on average reduced from a generation or two ago, there is likely to be a large number of younger Australians coming into some serious wealth when their parents or grandparents pass on. It could take a decade or two, but ultimately younger Australians could end up the longest living and richest generation in the nation’s history.

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“..oil priced at over $75 a barrel in today’s dollars tends to crush economies, and oil priced under $75 a barrel in today’s dollars tends to crush oil companies.”

“Racketeering Is Ruining Us” (Kunstler)

The disorders in politics that we’re seeing now are really expressions of the larger disorders in our economic life and our financial life. That just happens to be the avenue that the expression is coming out of. Another point I’d like to make is that the reason that people are against Hillary or dumping on Hillary or don’t like her, is because she’s a poster child for racketeering. I encourage people who are talking about our circumstances and people who are interested in the news and election, to use the word racketeering to describe what’s going on in this country. You really need the right vocabulary to understand exactly what’s going on.

Racketeering is just pervasive in all of our activities. Not just in politics but in things even like medicine and education. Obviously the college loan scheme is an example of racketeering. Anybody who has to go to an emergency room with a child whose broken their finger or something, is going to end up with a bill for $20,000. You know why? Because of medical racketeering. And so, these are really efforts to money-grub by any means necessary, often in ways that are unethical and probably illegal. Let’s use that word racketeering to describe our national situation. And let’s remember by the way, the activities of the central banks is just another form of racketeering. Using debt issuance and attempting to control interest rates in order to conceal our inability to generate the kind of real wealth that we need to continue as a techno-industrial society.

Societies have a really hard time understanding what they’re doing, articulating the problems that they face and coming up with a coherent consensus about what’s happening, and coming up with a coherent consensus about what to do about it. Combine that with another quandary, the relationships between energy and the dead racket for concealing real capital formation. I like to reduce it to one particular formula that is pretty easy for people to understand. It’s a classic quandary: that oil priced at over $75 a barrel in today’s dollars tends to crush economies, and oil priced under $75 a barrel in today’s dollars tends to crush oil companies. There is no real sweet spot between those two places. We’re ratcheting between them and each one of them entails a lot of destruction. That’s a terrible quandary that we’re in and it’s being expressed in banking and finance…and the people in charge of those things don’t really know what else to do except continue the deformation of institutions and instruments.

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Strong.

Iceland Prepares To End Currency Controls (Tel.)

Iceland plans to significantly ease capital controls for individuals and companies, marking the end of a regime that was described as the crutch for the Icelandic economy following the 2008 crisis. The Finance Ministry plans to put forward legislation on Wednesday to pave the way for the removal of capital controls for Icelanders who have been living with the restriction for eight years. The recommendations will mean that outward foreign direct investment will be unrestricted, but still subject to confirmation by the central bank.

Investment in foreign currency financial instruments will also be allowed and individuals will be authorised to buy one piece of property abroad each calendar year, irrespective of purchase price. Requirements, under penalty of law, to repatriate any foreign currency obtained abroad will also be eased and individual households will be given authorisation to buy foreign currency for travel. Iceland’s finance ministry said that next January the current ceiling on foreign investments will be raised. It is estimated that the changes in the bill will lead to a reduction of about 50-65pc in the number of requests for exemptions from the Foreign Exchange Act, which will speed up the processing time.

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The flipside of Soros.

‘I Want You Back,’ Cries East Europe as Emigrant Tide Erodes GDP (BBG)

Eastern Europe is borrowing a line from the Jackson 5 as it bids to turn a tide of emigration that’s eroding its economic prospects and compounding an already-gloomy demographic outlook. “I want you back” is the slogan Latvia has chosen to lure home citizens who’ve upped sticks to Europe’s west in search of more job opportunities and higher salaries. Poland’s Return program offers tips on jobs, housing and health care, while Romania is teaming up with private business, offering scholarships and hosting employment fairs to tempt back talented citizens. The campaigns have gained fresh impetus after the Brexit vote threw into doubt the future status of foreign workers in the U.K.

“The diaspora living abroad represent a huge untapped potential for their countries of origin,” said Rokas Grajauskas, an economist at Danske Bank who’s based in the Lithuanian capital of Vilnius. Stints abroad can be beneficial, instilling new skills and ways of thinking, he said. The hunt for greener pastures isn’t new. The Soviet collapse prompted an unprecedented outflow of eastern Europeans to the wealthier west, with EU membership and the 2008 financial crisis triggering further waves. The Baltic region suffered most over the past decade, the latest Eurostat data show. Making matters worse, much of the continent is grappling with low birth rates and aging populations.

Losing workers to other countries has already cost 21 central and eastern Europe nations an average of about 7 percentage points of GDP, according to the IMF, which predicts a hit of as much as 9 percentage points over the next 14 years should current trends continue. It recommends the EU maintain funding to ease migration pressures, and that countries improve labor-market conditions and engage with their diaspora abroad. As governments belatedly heed that last piece of advice, they may well recall other lines from the Jackson 5’s 1969 hit song. “I was blind to let you go,” the group sang. “I need one more chance.”

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Report due in 3 weeks.

Tsipras Revives Greek Bid To Seek Wartime Reparations From Berlin (Kath.)

Greece’s leftwing Prime Minister Alexis Tsipras on Tuesday revived the country’s bid to seek war reparations over Nazi atrocities in Greece. “We will go all the way, first diplomatically and then legally, if necessary,” Tsipras said during events marking the World War II massacre in the village of Kommeno, in Arta, northwestern Greece. More than 300 people were executed on August 16, 1943 at the village which was then torched by German forces. The findings of an intra-party committee which was set up to look into Greek claims for German war reparations are expected to be submitted to Parliament in early September. The committee wrapped up its probe on July 27.

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I bet you there are coup plotters among those 38,000.

Turkey To Free 38,000 From Prisons To Make Space For Alleged Coup Plotters (AP)

Turkey has issued a decree paving the way for the conditional release of 38,000 prisoners in an apparent move to make jail space for thousands of people who have been arrested after last month’s failed coup. The decree allows the release of inmates who have two years or less to serve of their prison terms and makes convicts who have served half of their term eligible for parole. Some prisoners are excluded: people convicted of murder, domestic violence, sexual abuse or terrorism and other crimes against the state. The measures would not apply for crimes committed after 1 July.

The justice minister, Bekir Bozdag, said the move would lead to the release of 38,000 people, adding it was not a pardon or an amnesty but a conditional release of prisoners. The government says the coup attempt on 15 July, which led to at least 270 deaths, was carried out by followers of the movement led by the US-based Muslim cleric Fethullah Gülen who have infiltrated the military and other state institutions. Gülen has denied any prior knowledge or involvement in the coup but Turkey is demanding that the US extradite him.

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Greece lives in fear. Because Merkel can’t give Turkey visa-free travel amid reports like this.

German Officials Say Erdogan Supports Militants (DW)

Citing a classified document from the Interior Ministry to representatives of the Left party on Tuesday the German public broadcaster ARD reported, that members of the government consider Turkey’s regime a supporter of militant groups in the Middle East. German officials appear to have publicly acknowledged, if in a classified document, President Recep Tayyip Erdogan’s weapons support for militants fighting the regime of Bashar al-Assad in Syria, which Turkish journalists have reported in the past. “Especially since the year 2011 as a result of its incrementally Islamized internal and foreign policy, Turkey has become a central platform for action for Islamist groups in the Middle East,” the German officials said, according to ARD.

German security officials also said Erdogan had an “ideological affinity” with Egypt’s Muslim Brotherhood, ARD reported. Suppressed under Hosni Mubarak’s dictatorship, the movement went on to produce Egypt’s first democratically elected president, Mohammed Morsi. Despite the “affinity,” Erdogan has been publicly at odds with the Muslim Brotherhood in the past though he has since also criticized current Egyptian President Abdel-Fattah el-Sissi, who overthrew Morsi in a 2013 coup. Neither the United States nor the EU considers the Muslim Brotherhood a terror organization. The German officials also said Erdogan supported Hamas, the democratically elected governing party in the Gaza Strip.

Turkey’s president has said as much in the past, having told the US news host Charlie Rose, that “I don’t see Hamas as a terror organization.” Though the United States and EU do list Hamas as a prohibited group, nations such as Norway, Switzerland and Brazil do not. “It is a resistance movement trying to protect its country under occupation,” Erdogan added in the 2011 interview, referring to the Israeli state, with which Turkey also enjoys diplomatic ties.

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